AMA Recap: Gem Chasers & Meliora Finance
Alberto:
Welcome to another AMA series at @gemchasers. Today we have with us Meliora Finance. @TheoMeliora and @adhoc_meliora, welcome to our community. How are you doing today?
Theo — Meliora:
Hi Alberto! Great to be here!
I’m lost in PMs about Early Supporter round :)
adHoc (Won’t DM you first):
Hi Alberto, pretty good. thanks for having us here!
Theo — Meliora:
How are you doing?
Alberto:
I am doing fine, we are glad to have you here. Could we please start with an introduction about yourself, and your past experience with crypto?
Theo — Meliora:
Sure, let me introduce our team
I’m the project lead of Meliora. I have been into crypto since 2015. I have been an ambassador for 2 different projects for more than 2 years. I organized and ran regional campaigns for the projects. I have experienced a lot about crypto space in those 2 years. Apart from crypto, I have been teaching adults for more than 12 years. That’s all about me for now :)
AdHoc is the lead developer of the project. He is employed by a private blockchain solutions company. He is a web and smart contract developer. He’s proficient in Python, Solidity, Rust, performance optimization.
James is another dev and competent in Web3 and Dapps and HTLC. He has written his thesis on Atomic swaps and currently working at a University as an IT engineer.
Alberto:
Thank you, very nice resume and skillset
So, could you please talk to us about Meliora Finance, and an introduction about it?
Theo — Meliora:
Meliora is trying to build a swap platform where no one needs anything but a wallet in these times when issues such as tax, regulation are on the agenda. Meliora will utilize atomic swaps in Meli-Wallet through Hashed TimeLock Contracts.
This is a brief introduction of our project.
Alberto:
Thanks a lot, Theo. Since this is a fully dex solution. Could you please tell me what would be the use cases of using your platform, and which advantages would it provide?
Theo — Meliora:
Let me explain this in SWOT analysis:
Strength — interoperable, decentralized, and trustless secure platform
Weakness — Since on-chain transactions can be tracked with analysis software, this causes privacy concerns. We hope to solve this by adding a privacy layer to our own system.
Opportunities — current risks and problems with Dexs and Cexs and tax regulation issues.
Threat — emerging technologies, user base and, we are planning referral system and volume based tiers to eliminate this
Our use case is pretty straightforward, cross-chain swaps :)
Alberto:
Indeed, if we want to swap between chains we usually need to do it through cexes, but not anymore with Meliora
Could you please tell us about the tokenomics?
Alberto:
Thank you. What are your security measures about the project, have you been audited by any security company?
Theo — Meliora:
We care about security and security will be one of the biggest expenses for us.
So far, we have our token and staking contracts audited. Audit is done by Solidity Finance. Here is the report but it will be updated by them and once done they will tweet about the audit. https://solidity.finance/audits/Mora/ Furthermore, our all-future products will be audited as well.
Alberto:
Nice to know you have audited your token and staking contracts prior to launch.
Ok so we have 2 questions preselected from our community that we would like to ask you know
@ferannoo asks: Hashed Timelock Agreement (HTLC) requires that the counterparty agree to pay within a certain time frame in order for the time-dependent transactions to run smoothly. How is this time frame determined and is there a time lock mechanism in this model?
adHoc (Won’t DM you first):
This is a nice question.
Yes, we will utilize HTLC. The lock time required for transactions will be determined by those who place orders into the orderbook. If there is a match on the orderbook within the specified time, trancastion is executed, otherwise it is canceled. To eliminate this risk, we will offer LP incentives, which will be covered in detailes in our White paper 2.0
Alberto:
Thank you for the clear explanation. This is the next question
@masteryi1976 asks: Many projects rug pulled and exit scam recently. Why should investors trust your project not to do the same?
Theo — Meliora:
He is totally right about his concern, there has been many such issues lately, even in pulic team projects.
Our token contract is audited, it can clearly be seen that there is no mint function in it. As stated in our tokenomics, excluding Marketing and Token Sale, all others will be vested which will be shared before public sale.
Public sale will be on a decentralized launch platform, once hardcap is reached smart contract will add and lock the liquidity automatically.
Which means rugpulling is out of a question here.
Code is law :)
Alberto:
Thank you for clearing that out. Scams and rugpulls are very common nowadays, and we need to take measures to prevent them
Theo — Meliora:
Sure, crypto investment always involves risks and we all suffered from such issues once. We will always be transparent and honest.
Alberto:
Indeed
To wrap up, could we have your socials for Meliora Finance? Is there anything else you would like to add?
adHoc (Won’t DM you first):
It was pleasure for us to introduce ourselves and our project here, thank for this opportunity.
