On Tuesday, 4th April 2023, Venkatesh Karanalu, CEO & Co-Founder joined the Pontoon Official Chat for an Ask Me Anything session with the community members.
The primary focus of this discussion was around Roadmap, tech details and the new website. We also discussed the governance token along with listing on exchanges.
For those who missed the LIVE AMA, we’ve created a recap of it here.
For your convenience, we’ve gathered all questions and answers given during this event below.
Hello Everyone, Greetings from Pontoon.
We are very excited to have the community with Venkatesh Karanalu, CEO and Co-Founder of Pontoon.
Welcome to AMA session sir.
Good day Pontoon community. Happy to be a part of this AMA session.
Thank you @Rishi0201.
Before we proceed ahead, a brief introduction about youself to the community.
It's been close to 16 years now into the IT sector serving major multiple clients like Wipro, EMC, CTS and CapGemini. With the innovative things happening in the blockchain industry, was very keen to get inside. The year 2017 had multiple roller coster rides and ended myself into blockhain technology Post where understood lot of things that are in place and what can be added.
And today, after multiple discussions and hackathons, we are delivering Pontoon.
Wow, that’s truly amazing and a lot of experience in-house and more to learn from you sir.
Community, Are you ready? let’s kick start today’s AMA session with Twitter questions.
Q1 — From https://twitter.com/nacha_mayy
How does Pontoon plans to solve centralized exchange dependency, liquidity fragmentation? Can you give us details about your features in order to achieve this goal?
Before we move further with AMA session, wanted to highlight about the protocol review thats happening with Pontoon and multiple changes are in place. Few things to list are.
1) Moving away from exisiting CEX’s
2) Lisitng on new CEX’s and new DEX’s
3) Staking programmes
4) Website review — New UI/UX
5) Launch of META Aggregator app
Pontoon will be moving away from the existing protocol to a new DAPP which is META aggregator and we shall resume the liquidity mirror protocol as we movew further. Thank you for your extended support.
Thank you for the details on the protocol review and believe the community had these questions in place about the protocol review part.
Pontoon is one click liquidity mirror solution meaning we incentivise users and communities who provide LP to the pools along with a portion of protocol fees dedicated towards the LP with APY/APR depending on the asset or token.
Fragmentation in crypto is the spread of tokens or assets through multiple protocols that might serve a portion of the actual purpose. In short, tokens are spread across which need to be combined to serve the need. With Pontoon, we are establishing multiple pools where a user can participate along with rewards.
Use case with Pontoon and TOON tokens ranges from relayers to governance and in the future there will be an add-on to the structure of composability when we launch cross-chain composability engine.
That’s very descriptive sir.
Can you delve into the technical aspects of Pontoon’s META Aggregator solution and explain how it bridges assets between different blockchains, while also ensuring complete security and transparency for users?
Security checks are always an ongoing process and especially when it comes to cross-chain bridges with numerous attacks happening frequently and the total value lost is huge.
With this concern, the Pontoon tech team is working with conditions like CGP, CTP and fault tolerance mechanisms in place to ensure the highest standards of safety shall be maintained. More technical details will be out through our educational series.
Yes, agree with you sir on the educational series and it’s one of the best methods to acquire the user base for web3.
What is different about this platform that I do to become an option among the others?
We discussed above the concern of fragmentation and composability structure, with Pontoon we aim to deliver the best innovative features something similar to one-stop solution for all your crypto needs which is our road map for the future.
Thank you, sir, is there a way to get the new roadmap to the community?
Yes, the new roadmap is a part of the website review and sooner all the information will be made public.
What specific measures does the META Aggregator take to ensure low transaction costs and fast transaction speeds, particularly when executing transfers across EVM and non-EVM chains?
There are many protocols that are providing the gasless options to the users who perform some actions through those applications but to understand more on this “ Is it really gasless? “ and this criterion introduced many side-chains along with applications that can implement something closer to gasless by introducing batch transactions which can reduce the fee to the user and it community.
Pontoon META aggregator provides a range of options to the user to complete the transaction and there is always a window to understanding the cost involved for the entire transaction. A practical understanding on this can be achieved sooner once we are live on Mainnet.
Excited for the mainnet launch.
Q5 — @Baskey987
You point out that Pontoon’s educational series is mainly focused on users who are new to DEFi and who can relate things, but could you really give us a bit of detail on the points to be covered in those series? And it will also be completely free to participate in it?
To be honest, we at Pontoon believe that content, blogs and medium articles are a kind of strategy to get involved or get mixed up with its community and to deliver the right knowledge.
Continious support and feedback is what we are looking to understand the sentiments and deliver accordingly. For now we do not have an option of participation and in future we shall announce through our official channel on same.
Educational series plays a vital role. Kudos.
They mentioned something about composition capabilities with Plug and Play configurations. Can you tell us about this compositional capability? How does this configuration benefit the ecosystem?
Innovation is consistent everyday around the globe but building an application from the scratch is always time consuming.
To eliminate the need to build an application from first has to be eliminated.
With Pontoon composability structure, we are delivering close to anything possible through its plug and play configuration with no or lesser tweak to the applications that can integrate with exchanges, blockchain and even side chains as well with humungous protocols integration.
Nice to see the innovation around Pontoon.
Pontoon is designed to address the issue of cross-chain liquidity fragmentation; how will the platform manage and resolve this issue, and which blockchain will users retain their assets on?
Cross-chains does not have any dedicated chains to retain the assets as it is purely dependent on the Transaction performed.
Addressing the fragmentation issue been discussed in our earlier questions. Thanks.
What is the structure of this project , is it decentralised or a open sourced protocol where everybody can contribute? If so, how does the governance plan on being handled??
At this time, we are centralised and contribution is restricted. As we progress further on the launches of our main-net, we shall move completely to a stage where all can contribute with many bounty programmes involved.
Governance is handled through our decentralised validators on main net.
To the world of DeFi
Are there any existing standards or conventions for interoperability and composability in the blockchain ecosystem that Pontoon plans to build upon, and to what extent will it need to create entirely new standards from scratch?
Blockchain ecosystem has evolved so much and still it is evolving to the new standards and innovation. Most protocols make their code to be open-sourced which eases the action needed.
Pontoon has completely new set of codes written and as mentioned earlier, we aim to provide a composability engine which should be game changer in the present day.
Strong Tech Team 💪💪
Q10 — @Toxxitlx
I saw that many projects were unstable for a short period of time. At first, they started with hard work & good attention, after a few months later they didn’t pay attention to this project. Then it ended there. how do plan to survive in the market?
Anything new to the market is always an eye-popping, Pontoon’s R&D has pioneered in this graph and we deliver the things which can provide a healthy case study.
To add on, marketing strategy along with keeping the community engaged has supported us to overcome the black areas.
It’s time to end the AMA session.
Thank you sir for being very detailed in answering and also about the roadmap along with tech aspects.
About Pontoon: Pontoon is one click liquidity mirror cross-chain solution that aims to solve the concern of fragmentation and composability in a completely trustless way. Pontoon does not MINT or BURN any assets or tokens which is the solution to a decentralized transactions.