Thank you to the Infinity Chain for participating in Ask Me Anything (AMA) with Venice Finance 12 January , 2022. This guest star,

  • Alex Park — Head of Marketing

Introduction

Alex Park :
Hi Everyone, this is Alex Park, Head of Marketing at Venice Finance At Venice Finance, I am leading the marketing and growth team to pioneer and innovate the blockchain ecosystem.

After graduating from USC in 2013, I have spent almost 7 years in the Fintech industry and got involved in the Blockchain field in 2019. Before joining Venice, I was the Chief Marketing Officer for a cross-border payment company based in Asia, where I gained valuable insights on the friction & pain points of the legacy payment system. I certainly understand the need to revolutionize every block in the #TradFi system and how blockchain helps transform it with more decentralization and transparency; also, after so many years of experience dealing with kyc providers and capricious regulations, I also understand the importance of privacy preservation to build a real, open, decentralized financial system.

QUESTIONS MODERATOR

Why Venice? What are some of the problems that Venice aims to solve? What solutions are offered?

Alex Park :
Front-running has always been a problem for DEX and AMMs. Front running is When a trader sticks with the deal, watching the price accumulation, and figuring out when to slip past the other traders at the final possible moment to make a profit, since blockchain transactions are broadcast publicly, people on the lookout can spot large deals about to take place and submit their own trades to profit from the scenario. Good news is the Bulletproofs functionality can solve this problem and it is now live on Findora’s privacy-preserving UTXO ledger. Venice supports trades/swaps wherein the asset type and amount are masked, effectively removing any chance of malicious users exploiting the system. It also provides an elegant mechanism to prevent front-running while maintaining the ideology behind a completely decentralized and transparent system.

Choose Venice Finance for the best trading experience, most economical trading cost and safest trading.

Could you tell us about $VENI tokenomics and use-cases?

Alex Park :
Venice is well-positioned for community-led growth with the introduction of VENI (FRC-20 standard) to guarantee such sustainability, led by a dedicated governance mechanism and shared community ownership.

A total of 1 billion VENI tokens will be minted at genesis. Venice features a unique deflationary economy design in which — at the VENI token issuance master smart contract level — a per-transfer 0.2% tax policy will be enforced and sent to a blackhole address. Effectively, VENI is a DEX platform token which incorporates a tax that creates clear deflation for every on-chain movement. A 5% average movement per day creates an effective deflation of 4% annually.

The majority of VENI tokens will be distributed via Community Incentives and Liquidity Mining to achieve a balance of high market utilization and a wide distribution of governance participants. VENI holders can propose improvements (e.g. adjusting pool parameters, integrating new ecosystems) and collectively decide on the optimum solution for the protocol.

Community Mining Allocation Breakdown:
20%-VENI token incentive mining
2% each month for TGE+5mon, 0.5% each month for TGE+5mon onwards until finish

17%-FRA incentive mining
1% each month for TGE~TGE+5mon, 0.5% each month for TGE+6mon~TGE+12mon, 0.25% each month for TGE+12mon onwards until finish

6%-Mining across all LP tokens

0.5% — each month from TGE onwards
We also have a burning mechanism for transaction fees etc toi make sure the VENI supply is deflationary and scarce.

Who are Venice current partners and backers? How can Venice partners help in the development of the Venice ecosystem?

Alex Park :
Right now we are partnering with Tokensoft and several Layer 1 chains. We have already received commitments of $60 million + worth of liquidity from various layer 1 foundations and undisclosed liquidity partners towards the Venice launch. We also have a partnership with Polygon and will deploy on Polygon soon. Polkadot and Web3 Foundation is our infrastructure partner as well. In the near future, Cosmos and Near and Avalanche will be announced soon! We have a number of private investors.

Please inform Venice roadmap? What is the strategic plan of Venice in the future?

Alex Park :
For Venice being so young and new, we’re currently focusing on gaining as much publicity as we can before our launch in January 2022. We are working in partnership with some industry leading blockchain companies, including Tokensoft, Polygon and Findora and many more to come.

Per our roadmap here are what Venice plan to tackle in the year of 2022:
At Q1 2022, we will 1) drop our V1 Mainnet launch, 2) Bridge integration to BTC and Arbitrum, deploy on ETH and BSC, 3) we will make governance & VENI community DAO w/ $10 million liquidity support from Findora Foundation
Q2 2022: we plan to 1) Drop V2 launch w/ front-running resistance utilizing Bulletproofs, 2) Bridge integration to Polygon, Terra and Avalanche, deployment on Avalanche, Polygon and Arbitrum, and 3) Limit order & customizable liquidity positions will become available to users
Q3 2022: 1) Drop V3 launch w/ full anonymity utilizing Turbo-PLONK and Multi-Party Computation, 2) Single-sided liquidity provision, staking rewards auto-compounding, stablecoin swap support
Q4 2022: 1) Drop V4 launch with customized private money market, 2) Leveraged lending and NFT assets collateralization, 3) launchpad for new project incubation

Venice is designed to function as the first front-running resistant, privacy-preserving AMA DEX offering unique functionalities such as advanced cryptography algorithms including Bulletproofs, Turbo-PLONK, MPC, etc. to encrypt smart contract inputs. Venice will launch different versions on Testnet and Mainnet, and integrate bridge to Ethereum and BSC, Bitcoin, Harmony and Arbitrum, and Polygon. We will receive $10 million liquidity in Governance & VENI community DAO provided by Findora Foundation. We plan to and roll out single-sided liquidity provision, staking rewards auto-compounding, stablecoin swap , and the launchpad for new project incubation next year. Going forwards, we expect community members to participate.

QUESTIONS TWITTER

I notice that #Venice is focused on privacy and liquidity aggregation across the chain. So, what tools will allow VeniceFinance to defend itself based on usability and privacy? How will it succeed in providing the basis for an open and accessible financial system in the future?

Alex Park :
Advanced cryptography algorithms including Bulletproofs, Turbo-PLONK, MPC, etc. to encrypt smart contract inputs. Venice enjoys a function of front-running resistance and full anonymity to protect users from value extracting players.

These are the newest cutting edge zero knowledge primitives. We are working on enhancing the cryptography support inside the EVM to make these privacy preserving transactions work well. For example, Bulletproofs are very efficient in hiding asset amounts and asset types. Plonk is jack-for-all-trades that can effectively form a “DARK POOL” dex. We also have KYC friendly address recreator that will help anonymize the user’s identity. well, just a lot of new features in the pipeline. We ultimately make Venice good for people free of censorship, MEV and front-running.

Folks, our team has more than 100 years of combined expertise in zero knowledge cryptography, smart contracts, marketing, financial engineering and community building. We have developed rich APIs and SDKs along with the Layer 1 protocol’s devs to take advantage of the cryptographic primitives.

Venice Finance hopes to encourage mass adoption of PriFi by creating frictionless user interfaces and EVM-compatible smart contracts, though, what are the reasons why Venice Finance is devoted to the expansion of PriFi in the entire blockchain sector? Why must PriFi be protected?

Alex Park :
PriFi is Privacy Finance. Comparing to DeFi, the most important change is that we value user’s on-chain privacy. Since traditional blockchain Dapps are all transparent and all data, transactions are available to everyone.

Privacy is the most important feature for traditional financial sector. In order to expand the whole blockchain industry, PriFi is the goal that we must pursuit.

I read that the beta implementation of Venice supports Onion Transfer. What are the main features that Onion Transfer has that makes it so compatible with Venice? What are the main contributions that Onion Transfer will bring to the platform?

Alex Park :
With cryptography algorithms, our function of Onion Transfer enables a “decontamination” process which helps users to establish privacy-preserving on-chain identities by breaking the on-chain link between sources and destination addresses: it automates the transfer of user assets from a traceable account, linked to an identity KYC’ed on CEX, to an untraceable address; users can migrate and trade their assets from a “contaminated” accounts on the many ecosystems supported by Venice for privacy protection.

According to the website Venice Q1 2022 roadmap will launch the V1 Mainnet. Can you share about this? When V1 Mainnet will it be launched? Can we make bridge integration to BTC & deployment on Ethereum / BSC via your mainnet?

Alex Park :
Thanks for you question, and yes — we are expecting the V1 Mainet launch at late Feburary. Venice will launch different versions on Testnet and Mainnet, and integrate bridge to Ethereum and BSC, Bitcoin, Harmony and Arbitrum, and Polygon.

What is the most ambitious goal of your project? What is the ultimate vision that Your project is trying to achieve within the cryptocurrencies market?

Alex Park :
Our ultimate goal is to become the most important infrastructure of PriFi, just Uniswap to DeFi. At that time, the privacy issue won’t bother any investor anymore, thus attracting the traditional financial sector to deploy on blockchain. And I think this is also the goal for the whole blockchain industry.

QUESTIONS TELEGRAM

The cryptocurrency market is increasingly competitive, especially Defi. What is venice unique “selling point”? and how will you take advantage of it? ??

Alex Park :
Well, as the first front-running resistant, privacy-preserving AMM DEX, Venice stands out because of three strength as follows:
First, advanced cryptography algorithms including Bulletproofs, Turbo-PLONK, MPC, etc. to encrypt smart contract inputs. Venice enjoys a function of front-running resistance and full anonymity to protect users from value extracting players.
Second, community-Oriented Governance as VENI’s innovative deflationary tokenomics design and game-theoretic-inspired mining mechanism guarantees long-term sustainability of Venice protocol. We let venetians collectively decide on the optimum solution for the protocol through farming, staking and voting.
Third, chain-agnostic liquidity hub. Venice allows users to frictionlessly and trustlessly move the liquidity inter-ecosystem without revealing their position or identity. Findora Foundation has committed $10 million worth of liquidity from its $100MM+ Ecosystem Fund towards the Venice launch.

Audit is important for both trust and security. Have you done any audit of smart contract?

Alex Park :
Venice is partnering with top auditing firms including Certik to guarantee the security of users’ money. Besides, the codes are drawn with strict security auditing and through tests and bounty programs. I would encourage everyone to go try it out at: testnet.venice.finance

sorry for my bad english , is venice community only English speak or for users not other languages? ??

Alex Park :
We are a global project with global team and global communities. In addition to the English communities, we also develop communities in other languages such as Chinese, Spanish, Russian, French and Vietnamese, etc.

How can users stay updated with this project? Are there channels, including local communities where users can get the latest updates?

Alex Park :
Please visit us at Venice Finance for official site updates
Join our telegram channel at: https://t.me/venicefinance
Join our telegram Announcement: https://t.me/venice_finance
Join Our discord at: https://discord.gg/CbCDJvk3
We will post daily updates about our product, roadmap and also we have various different campaigns coming up! So stay tuned for more information 🙂

Ambassadors play a very important role in every project, Do you have an ambassador program? If yes, How can I be one ?

Alex Park :
Yes, please stay tuned for our upcoming Global Ambassador program, we will have more non-English local community coming up.

Telegram Chat | Telegram Channel | Twitter | Website | Discord | Medium | Github

Thank you for trusting Infinity Chain as the organizer of the event today, hopefully everyone can understand about Venice Finance.

Join our Telegram Group and you can talk directly with other Communities and enjoy some of the events that we created. We are always here to support.

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Telegram Chat : @InfinityChains Telegram ANN : @InfinityChain_News Twitter : twitter.com/Infinity_Chains Website : Infinitychain.news

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