Pontoon Community AMA Recap
On July 5th, we held an informative Ask me Anything session with our CEO Venkatesh Karanalu in our Public Telegram Discussions Group.
Pontoon Finance is a cross-chain liquidity mirror protocol addressing issues related to centralized exchange dependency, composability, and liquidity fragmentation. With innovative features it aims to provide one-click liquidity mirroring across various chains levelling up the DeFi infrastructure to drive utility.
Give us more info about yourself?
My background is tech with an experience of 14+ years into IT industry majorly worked for DataCentre operations. In my previous role I performed duties as DataCentre architect. Entered Crypto at the end of 2017 as a part time trader and progressed into an investor for multiple firms.
Q1. What is Pontoon? Can you share with us more in detail?
Pontoon is a cross chain liquidity mirror protocol that aims to solve 2 major concerns like CEX involvement and composability.
At Pontoon we are completely 100% trustless when an end user uses Pontoon bridge — This is achieved by LP’s provided.
Secondly, composability means utilizing the required details of SC which can be deployed in other platforms. So Pontoon SC’s are written in such a way that it acts like plug and play config.
Q2. What triggers you to launch Pontoon? What are some of the real-world problems/ pain points that Pontoon aims to solve?
Liquidity is fragmented across platforms and Pontoon solves this issue. That’s the trigger for this in a completely trustless way.
2) CEX involvement
3) Composability issue
Q3. What makes Pontoon better than its competitors?
Rewards program — We have 35% dedicated to rewards with an incentivized model in place.
Composability — Plug and play config
Fragmentation and Trustless — Fragmentation issue is solved where the user provides a single LP token for a pool and then the swap mechanism works with the LP pool. This mitigates the need for CEX involvement and achieves 100%. Initially we would require CEX but as we progress we will be trustless with the help of validator nodes addition.
Gasless — With the introduction of Relayer networks as per roadmap, we also achieve complete gasless transactions across chains.
Q4. Are there any exciting news or updates with regards to Pontoon that you would like to share with the community?
We are testnet ready with Polygon, Eth and BSC, awaiting for audit reports. Once we are ready with audit reports, we plan for a launch.
Post launch, we have planned for incentivized testnet to users.
Q5. Please give us a sneak peek of your Roadmap?
We are little delayed from the current roadmap for now awaiting audit reports, once we are good, will fast track and keep the road map as put across on our website.
Community Round (Top 5 questions)
Typically, investors buy tokens that are likely to increase in price in the future. I saw that, total supply of the token is huge.
So, do you have any plan for burning tokens in the future to reduce the supply of the token and increase its investment attractiveness?
No plans to burn
Collaboration and partnerships are one of the cornerstones to making DeFi more widespread. Can you share some of the partnerships you have formed with existing blockchain foundations recently??
We closed our partnership with Polygon and we are testnet ready.
First round discussion been completed with Ava, Elrond and Solana
Rest is NDA for now.
🍀🌸Sajun Anh Ngoc~~🍀
Any small coding error can permanently damage the entire assets of the LPs. This is the biggest risk of Yield Farming . How will you deal with this problem? Has your smart contract been audited by any blockchain system ?
We have started with auditing since our initial code was developed and we are progressing in a good way. Yes, we also working with multiple audit firms for the end result which is expected sooner
What are the plans to educate and raise awareness and adoption among the community to make more people understand about the project easily?
We have educational videos that shall be announced post of launch through our official channel, along with some community events like bug bounty, themes being planned for future. Some are pre-launch and some are post launch
Pontoon means bridge and that’s the name for a cross chain that is required in the current ecosystem.
Q.How do you handle some of the market’s challenges and challenges to meet the market’s Supply-Demand when building a project?
We have a very good incentivization model which is dedicated to overall 35% of the tokenomics and that’s how we meet supply demand.
About Pontoon Protocol
Pontoon offers users One-click liquidity mirroring across ETH, BSC, HECO Chain, xDAI, POLYGON, OPTIMISM with incentivised Relayer Network and Liquidity Mining for Liquidity Providers across the chains. We solve the prevalent fragmented liquidity problems across chains employing a decentralised and trustless approach.