On Friday, Feb 5, we were honored to have Roseon Finance’s representative join the LuaSwap community for a special AMA discussing our cooperation and other related DeFi stuff. Roseon Wallet - a crypto finance app supporting DeFi and high liquidity tokens such as ETH, BTC and stablecoins as the object is for people to come in and invest at high yield, has a plan to integrate LuaSwap into their app. The guest did answer questions from the community and shed light on some of the Defi aspects of the project.
Below is a summary of the AMA.
Host: Welcome Mr.NT Yield Manager from Roseon Finance app. It’s our pleasure for having you today. So could you introduce a little bit about yourself and Roseon Finance for the LuaSwap community?
Mr.NT: Ok, sure. I am a Yield Manager of Roseon Finance which mainly focuses on how to maximize the yield of our investment strategy. I used to be a supporter of Blockchain communities including but not limited to COCOS, NEAR, CONFLUX. I also worked with Huobi Cloud as a partner. With more than 5 years in the Blockchain industry, I believe my experiences can help users to solve the maze of DeFi and find a better yield. That is all about me.
Let’s talk about Roseon Finance now. Roseon Finance App is a yield management app. So please don’t consider us as a wallet. Wallets uphold a great many tokens, we just support significant tokens (BTC, ETH, Stablecoins,…). Clients store their assets into our application, they can decide to put into our Savings products or Investment products (which comprises of Farming and Index Fund).
Host: It’s very interesting to hear that, everyone knows that yield farming is going bigger in the DeFi world and LuaSwap is an example. Pretty sure that LuaSwap and Roseon will have more collaboration in the future.
So basically users can use Roseon Finance to store token, maximize their profit via farming, staking, lending, etc?
Mr.NT: In fact, we support 2 main functions: Savings & Invests including Farms and Index Funds.
Users just need to deposit to our App and we will come up with a strategy to maximize their yield. For Savings we give a fixed pace of return. For Investments, we offer administration expenses, as it requires our bot and yield administrators to effectively monitor the investments.
Please note that Roseon App is temporarily only available for Android. We are updating our store page company registration. We apologize for the inconvenience. It will be available again shortly.
Host: Simple and easy to go for mainstream users you guys can download the app via website https://roseon.finance/. No need to wait longer, we will move to the questions from Twitter.
Host: The first question from mosjimo (@mosjimo) is:1, What role do you think Roseon Finance will play in making blockchain highly adaptable for the worldwide stage?
Mr.NT: I’m sure that recently when DeFi exploded, many people started to learn about it. But first of all to understand DeFi, you must understand Blockchain. Many people want to learn and invest in this field, but it is time consuming and quite complicated.
Our job is to make complicated things simpler. Therefore, with Roseon App, Blockchain will become closer and more present in everyone’s daily life. Just an App and you can see how Blockchain can bring benefit to your life
Host: Agree with your points about that, simple UX is critical with blockchain and crypto applications, and Roseon will help users to get familiar with these experiences.
The second question from MesulKada (@MesumKadal) 2. Do you have plan to list lots of different cryptocurrencies in Roseon Finance App or only the most famous and useful ones cryptocurrencies?
Mr.NT: As I mentioned above our goal is not to be a wallet. Instead, we aim to be an investment app. The essence of the wallet is to support as many currencies as possible. And we only choose the main currencies and stable coins to help users increase profits.
For example, LUA is a potential coin with good profitability, benefiting users. So we cooperate with LuaSwap to open up a good investment channel for users.
Specifically, we currently have an incentive program for users, staking stable coins to receive interest on the associated LUA bonus. You guys can check it here: High Yield USDT Savings with LUA Incentive - Roseon Finance - Medium
And please follow our Twitter to get updated about new pool: https://twitter.com/RoseonFinance
Host: Awesome, so with Roseon we can track our assets in real time as well as having the incentive for more revenue from staking tokens.
Mr.NT: Yes, sure. USDT Savings Pool with LUA Incentive
Fixed APY Return: 25%
You will earn $5 in LUA for every $100 USDT deposited
Term: 15 days
Start Date: Feb 14th— Feb 28th
Pool Limit: 10,000 USD
First come first serve Join in with us
Host: Thank you for that info LUA’s holder would love to hear that and the next question is about segmentation and competitor of Roseon app
3 (@hoavouuy) Many projects are already offering similar solutions with you, what’s your recipe for success and plan to outplay possible competitors and remain relevant in the foreseeable future?
Mr.T: I believe we have special features that other projects do not have:
We support mobile while many other projects are still using the web
We are a centralized app so you don’t have to worry about Ethereum network fees or loss of passphrase, etc… Your job is to deposit money and we will take care of it all.
We support NFTs. I believe there aren’t many apps that support this. You can watch and project your NFT and that of your friends on the app. In the future we will also support NFTs purchases on the app.
By the way, we have also created a collection. You can see it here: Rarible - create and sell digital collectibles secured with blockchain
One of them is a picture of Thuy Pham - BD of Tomochain: https://twitter.com/RoseonFinance/status/1355319985900580865
We have both a safe investment product with fixed interest rate (Savings) and a more risky investment product with variable interest rate (Farms)
In addition, we will also have the Index Fund. “Index Funds” are ideal for the everyday investors and long term holders. The indexes are rebalanced automatically for you
Host: The next question comes from @thanhhoai91: 4. What really MOTIVATED you to bring such a great PROJECT into existence?
Mr.NT: There are two things that we think are our motivations:
First, we feel that many people want to invest in DeFi but do not have the time and the resources. That’s why we created Roseon. With the Roseon App, everything becomes easier. That’s our duty.
Second, we want to become an effective assistant for users in finance, helping them to have financial autonomy and control their own lives, especially women.
Host: Thank you for your answer and hope to see Roseon could help more and more user join the crypto world for financial freedom. And the last question from Twitter about NFT: 5 (@elvie3193) Do Roseon Finance token have burn system? As I know burn can increase value from your token and also do Roseon Finance get revenue from $NFT token?
Mr.NT: We’ve just started. We haven’t had our token yet. But in the near future we will put it in our roadmap. NFT is a great improvement of ERC tokens. It not only helps to preserve art, but also helps to store the great moments of life on the blockchain platform. I believe that NFT will soon develop rapidly and combine with DeFi to produce better products.
In the upcoming Index Fund feature, we will also include tokens relating to NFT such as RARI, MEME, … So, stay tuned and keep updating from us
And don’t forget to try to invest and choose for yourself an NFT today. It can be worth in someday
Host: yeah, I personally believe that NFT will become much more valuable. And we are done with the question from Twitter
Live Q&A Section
Mr.NT: Now our TA is the new user who just get into DeFi and women who want to be control their financial lives. We’ve just started. We take step by step. We try to expanse our ecosystem, build the app and promote at the same time
Here are some our partners: Ephimera, NFT marketplace, Gene Finance, Tomochain & Luawswap; Communities: Viewfin Learn, Super Crypto News, Crypto Art Collectors; RMIT University
Q2: (@Greatfulblockchainn) A big problem for a lot of Defi projects seems to be that when farming starts, the price goes down because people unload to put liquidity into the farm. Will there be an incentive to hold and not just farm and dump?
Mr.NT: That is why we have 2 products: Savings and Invests. One is safe and one is more risky
However we always want the best for our Roseon users so we will try to have a good strategy which only needs stable coin or main coin so you don’t have to worry about impermanent loss. We will handle it all.
Q3: (@catbitcoin) What is the structure of this project , is it decentralised or an open sourced protocol where everybody can contribute? If so, how does the governance plan on being handled?
Mr.NT: To be clear, we are a centralized app to help users to access Decentralized Finance. This is the good way to lower risk and save the cost for both. You can install our app right here and test: https://roseon.finance/
In the near future maybe we will have a token in our ecosystem. Thanks.
Q4: (@bpetridiss) what are the ways that generates profits/revenue to maintain your project and what is its revenue model ? How can it benefit win-win to both investors and your project ?
Mr.NT: We will come up with the strategy to maximize the yield and share it with users.
We charge 5-10% any gains you make farming, as well as a flat fee equivalent to 1 USDT for joining the farming pool.
When we release our Index Fund we also take management fees on it. That is our win-win strategy.
Note: We do not charge fees on Fixed Savings.
Q5: (@joy19x) Does RoseonFinance intend to create a fund to develop Dapp applications to attract more mobile app developers? Besides, with the products launched, will you have more bug bounty programs to attract developers?
Mr.NT: To be clear, we are a centralized app. Now we support BTC and ERC-20 tokens (ETH, USDT, USDC and LUA). We haven’t built our own blockchain yet.
So what we focus on is users who want to make money from DeFi and those who are new to crypto first.
In the next few months we will have big news. Stay tuned we will announce soon.
Here is our Twitter: https://twitter.com/RoseonFinance.