DeFi Bulletin: Recapping the AMA with Yubo Ruan, CEO, and DeFi Summit

If you missed out on Yubo’s AMA with the DAO, here is a timestamped guide of the highlights.

Product Strategy and Tech

Yubo opened the conversation with an overview of Parallel’s new product strategy for building on Polkadot, Kusama and Ethereum.

0:00 Presentation of Parallel Finance
1:21 Description of Parallel’s target market
2:25 Video demo of product

What Makes Parallel Unique?

Then, Yubo described why Parallel is the most interesting project on Polkadot and Kusama. In short, Parallel is driven to find smart solutions for concepts that other projects may have taken for granted.

6:15 Parallel’s interest rate curve
6:55 Current road map
8:11 Staking problems and solutions
10:06 Staking/Lending equilibrium
10:21 Validator selection strategy

Questions from the DAO

Next, Yubo answered some of the DAOs questions about Parallel, and what makes Parallel an interesting project to watch.

12:21 What happens if the price of KSM goes down? Will I get liquidated?
13:11 What is the relationship/conversion rate between KSM and xKSM?
14:30 How does slashing work? What happens if someone gets slashed?
16:03 Can you explain the interest rate curve?
19:20 What percentage reserve will you keep?
19:45 Will you be bridging liquidity between Kusama and Polkadot?
25:21 Would you see Parallel doing better in a bear market?

The Backstory

Here, Yubo tells us about how he decided to make Parallel, and what made Polkadot the best blockchain to build on first.

Wrapping up

Lastly, Yubo talked with Michael Huynh of DeFi Summit, who helped describe some of the ways that DeFi might be better than traditional finance, and how DeFi potentially improves on traditional finance.

22:28 Sidebar: High interest yield in DeFi vs Banks
23:53 Sidebar: Competition among projects creates better experience for users
26:47 What oracle service are you using?
30:40 What are the backgrounds of the people on the team?