Hi everyone, thank you for joining us in Torizai Mai. Welcome to the anime between Aurora, Insider and Corra.
My name is Kaka. I'm really honored to be the host of this play today. So to begin with, I would like to introduce and welcome Asian Arlekar.
co-founder of Coral. Welcome. Hey hi, yeah, thank you so much. Thank you for having me. Yes, thank you so much. And so to begin with, I would like to introduce some short information about our
and Kora for you to have some very first page information about us. So, the inside is a middle Aurora inside is a middle trainer in the near ecosystem we always update the latest
it is hot and fast rate news. We also provide in-depth analysis and a valuation at the cost to help users have a multi-dimensional view of the ecosystem to info graphite. And to give you the opportunity to interact with the project
We will regularly organize a list of this one so you can ask and ask a question directly with the purchase. And our next slide today is Kora. Please, SN&Kora introduce some of the project
Yes, absolutely. So I don't know if everyone is aware, but Korra essentially is a lending protocol where borrowers can borrow stable coins without the risk of being liquidated. And if you're familiar with
traditional lending protocols and you might be aware that you need to log a certain collateral, the U-Boro capital and then you get the capital but if the price of your collateral goes down you basically
get liquidated and you lose your collateral. So, Kora solves the liquidation problem by allowing borrowers to basically don't be stressed anymore about any liquidation for a fixed period of time.
Sorry, please check your mind. I think your mind has some problems.
or apologies, can you hear me okay?
no I think it got a little bit
Okay, I'm gonna join with another account.
Please weigh a little bit. We got some technical problem. Thank you for your payday.
Hey, can you hear me now?
Hello, yes, I can hear you okay, right. Yeah, so I was telling that If you are familiar with DeFi there are traditional lending protocols where you basically can go lock your collateral and then you can borrow
a certain token. However, the mechanisms of these traditional lending protocols are that if the price of your collateral goes down, you get liquidated, which means that you are going to lose your collateral. And we think this experience is quite stressful.
So we designed a better way or what we think is a better way where basically you go to Korra and you become borrow a stable coins for a fixed period of time and then during all this time you
Even if the price of the collateral that you are locking in the Corra protocol falls in price, you are not worried about being liquidated. So we are basically removing the full risk from the borrower.
Thank you very much for your information that you share. So we are here in this part today so there will be a lot of information to share. I got some questions to ask you about your color.
The first one, I think we show many errors on the file. What did you decide to build a landing protocol in which problem are you addressing?
just to be totally pure in the strict sense of what Cora is. Actually, Cora is what is called in the traditional finance world as structure product. And this structure product is basically combining lending plus protection. So you have lending
plus protection within one single product. However, we think that structure products are very, very complex and we understood that, or what we have seen in the traditional, in the defile landscape is that everyone understands lending.
we basically package this structure product in a very easy to use user interface and you know we put it as a lending platform that everyone understands and is solving what we think and according to our research what is a big thing
for borrowers. I mean I actually suffer these type of situations in the past like being liquidated is horrible and you might remember when gas prices in other networks like Ethereum were super high so you basically had to pay in you need to add more
collateral to your position and that point you were paying a lot of gas and that was very, very bad experience. So we are just basically building a better way of borrowing capital, removing all the risk from the borrowers.
Yes, thank you very much. In what the security measures do you have for access on your platform?
Yes, so I mean my co-founder and I we are to be quiet Frank a smart contract better I would say yeah, we've been a smart contract developers in 2017 but obviously we are humans and we could be prone to errors
However, we are developing the core protocol following what we think are the best practices to develop SMR contracts and we are really putting a lot of attention to everything we are doing like coverage, following the best SMR contracts
development practices and we have already engaged with two security firms to basically quote what's going to be the cause for the audit once we freeze the code. So that's like to things like development practices
then auditing but also another aspect of the protocol is that the protocol is immutable. So there is no or gradability and basically what is written in code is what the protocol should do. So all the rules are written in code.
code and I think having non-obgirdable contracts is also a security team and finally we are working basically writing what would that be like security actions like let's say
something but can happen. Of course we hope no and we are trying to do everything we can but still it's always good to have a plan so we are working also writing what would be a plan what would be the actions in case something wrong happens.
And, yeah, I mean, to be honest, we are very confident, but at the same time, we are very, very careful with what we are doing because we know that these contracts are going to handle people's money and it's super important for us as a
we know it is important for them.
Yes, so I think with the current blockchain landscape being multi-chain is not more optional. You need to definitely try to go to multiple blockchains and the core of protocol is
a very, very lightweight protocol is very, very compact, very, very simple and we love that simplicity because that also makes super easy to deploy the protocol to different blockchains and for instance we don't
have many dependencies of other blockchain infrastructure apart for an Oracle that we use. We only use actually one Oracle call when the borrower is asking for a loan and this is to validate that
what the borrower is asking is within the limits of the lending pool. So we only have one single contract called, but that means in order to go to a blockchain, we just need to have one Oracle and that's pretty much all. So we
We believe that we've been following near for many years and we believe that the New York system, in particular Aurora 2, they have great community. We really love the community. We also have a lot of friends in the New York ecosystem.
So I don't think there is another blockchain where we want to be here also, we want to deploy this within the Aurora community. We will benefit a lot of this protocol.
And what was the last part about the audit?
What's the question if, how we don't know it?
Yeah, so no, we haven't audit the protocol. We are finalizing right now what is the beta version. So you we expect to at the end of this month, we are going to release the beta version.
version of the corral protocol and this is going to be deployed in multiple blockchains. So we're going to have one better version deploy in Mumbai in Aurora and possibly in Garley. So yeah, that's the plan. I think
If everything goes well, we expect to freeze the code and then we can proceed to the audit. So yeah, we are getting there, but we haven't freeze the version one of the protocol.
Thank you very much and have you ready? Are planning on raising funds for the protest governing?
So that's something that we are very very very happy about in some way because actually the coroprotocol there is no bc money in the coroprotocol up until now we have been a self-puff strapped the team that we have they believe in
the core Abyssal, we have like very ambitious plans and I think the flexibility of the core Abratocode is pretty cool because you basically one of the main benefits of the core architecture for a technical point of view is that we have modular pricing models.
And then we had this lending pool where we call it the liquidity machine. Basically, it can handle very well, you know, you supply any token and it will always calculate properly the shares that each liquidity provider
or lender is providing. So the protocol is really very flexible. So up until now, as I was saying, we haven't received any BC funding. In fact, we were awarded a grant from the near foundation. So we're also very grateful
for that. So we are waiting to deploy the better version and the plan after that is to basically work with the community to see what would be the next steps in some way. We want to book
strap at Dow and we hope that the community get involved more to support us. And from that point I think we are going to take decisions together and so yeah that's the plan. But yeah no busy money we are police and bootstrapped this is going to be a community owner project.
So the plans are basically to release at the end of the month.
I mean, that's our goal and hopefully everything goes as we expect. We are very, very confident, I would say, that we are going to finalize the better version at the end of January and to release to these multiple blockchains, then the idea is to freeze the code.
we can do the audit and we also want to bootstrap the corradal. So that's something if you want to support the protocol, if you want to get involved, please join us. We need people who want to contribute, who want to have
post we are very open. So yeah, I think that's like the next two months plan and after that we want to to focus especially because we are seeing the market and the
with the core market conditions, we are in a better market. We are seeing that there is a lot of demand and the liquidity stake in the river tips are growing. So the cool thing about Core is that basically we could accept any type of collateral.
And I think we want to focus in this liquid estating the ribatips as collateral, for instance, you estimate it and it could be something very very interesting. So yeah, we want to become this liquidity
the year for liquidity stake in the river tips and to work in what we call multi collateral pools. And I think that's going to be huge because basically just with one single pool pool of liquidity, you can offer loans for
any collateral type in this case any liquid is taking the derivative. So yeah, I think we think that should be our next step. But yeah, once we form the Dow, we will see what everyone thinks.
Thank you so much. Thank you for the information that you share. I play that. Everyone in this play today has now more about Coral in different best of the both chat as well. So we have learned a Q&A from Cindy Innersman
of this spy, there were five questions from the community at SPC, the winners with said the rewards of 50 yet with this token from Koran. Let me introduce the third session of this spy today. Community questions, are you ready for it?
Let's do it, bring it. Yes, let's go. The first question I have chosen from a member of the community. Please explain landing and parrowing mechanism of color.
Yes, so in core, what happened is that liquidity providers or lenders, you could be, you could call the lender or suppliers, they deposit a stable coins into, you might in a box of capital, which is the lender.
in PULOV CORA. So, we create the providers only the Posit stable-consuming to this PULOV capital and then borrowers, sorry, before that when they, when they lend their deposits in this PULOV capital
He chooses which collateral he's willing to accept. So let's say I deposit a stable coin, um, USDC, and I want to accept near as collateral. So then your capital goes into that pool.
And then there is a person coming at the borrower with let's say the near and then because the pull accepts near he can borrow those stable coins from the capital and that's pretty much how it works. But then when
the borrower is locking his collateral and taking stable coins he needs to choose a period of time. So this is a bit different with traditional lending protocols where there is basically no time frame but here you have a time
and this is obviously because during that time that you are borrowing your capital is protected so you are not under any risk so you just log your collateral get stable coins and
And that's it. You are safe for the period of time that you choose and you can enjoy non-equitable long. Even if the price of the codatta goes to zero, actually you could still recover. But here there is an important mechanism because
If the collateral falls below what you borrow, basically, it doesn't make sense for you to come back to the protocol to recover a collateral. But here, you might ask, OK, how is possible who's taking the risk?
In this case, the liquidity providers are taking the risk of the loan. Because they are, basically they are obviously Cora is helping these liquidity providers by obviously running this simulation engine
where we choose a proper loan to value, which is the limit of a amount of capital that you can borrow for each unit of collateral, and then the pricing model. So we have liquidity providers or lenders to avoid going bankrupt and losing capital.
Yes, thank you very much. So security is one of the most important to consider before using a DR. So can you tell us what security measures Coro-Hel has and how you don't audit?
Yeah, I can already answer that. Yeah, good development, good software development practices, doing a proper, doing an external audit, defining a
framework, a kind of disaster recovery, what to do in case something works wrong. And actually, we also need to do a big bounty program, so a book bounty program. Yeah.
What happened if my collateral significantly dropped in price?
Nothing I mean you are safe you because remember when you borrow you got a stable coin. So let's do an example. Let's say you want to borrow using your
near and today near is two dollars. So you go to Koram and you borrow using these two dollars. So let's say you borrow one dollar and then
the near price goes to let's say zero. So you basically in this situation you already got one dollar right and you look one collateral that now is worth zero obviously I don't expect that to happen
but I think this is just an example. So now when the loan expires, you have two options. Either I come back to repay the loan and recover my collateral
or I don't repay. So because the price went to zero, you don't have any economic incentive to come back to recover your collateral. So actually in that case, you are profiting.
Now you are earning $1. As a borrower, as you see, we remove all the risk and you can even profit. Whereas for the LP, the liquidity provider is the one taking
in the loss and he is assuming the risk or in other words on the writing there is. So yeah we are moving all the risk from the borrower and they move into the LP but helping the LP.
Yes, thank you very much and could you name some competitive advantage of Coran that must is comparable to other landing protocol?
Yes, what was the question? Let's let me repeat the questions. Could you name some comparatively advanced app core that must is comparable
to order landing protocol. Yes, so first obviously we are removing the full risk from the borrower. Number two is that with Gora you have a full picture really of your position with others
traditional ending protocols, you basically sometimes the interest rate can fluctuate according to the utilization and you really don't know exactly how much you're going to pay. So with Korra you have a full view of your position. What is your downside
the potential upside which is unlimited, how much you need to pay when you need to do it. So everything is super clear. The other part is that Kora is super capital efficient. As I was saying our goal is to create multi-coloured
So instead of having pools with liquidity fragmented, we hope that these table pools could serve to accept multiple collateral with one single pool liquidity and we think that's going to be super super capital.
So, I think those are one of the competitive advantage. The model are pricing models, that's another part. All the pricing models are also decentralized. And yeah, I think that's pretty much.
Thank you very much in the next one. Everyone know that maybe maybe popper that dog will take in place.
during the PMHK and what it you decide to choose to loan your test net during this season and what value will you print to us
Well, for us, we really don't mind. Obviously, it kind of affects the market, but to be totally honest, we are not seeing the prices. We are just building and yeah, for us, that's the important part. Putting the
the product shipping a test net is for us very good because we are starting feedback and for us that's important part. We believe crypto is going to stay here and we are for the long term so we believe
You know, the market conditions can change. We know nobody knows. But yeah, we are builders, we are shipping. So that's what we are really worried about. And we expect to release one of the best products out there. Yes.
Thank you so much. And that's also the last question of this spider rain. I hope that everyone in this spider has understood more about Coria's squareness. It's us doing features.
So, as in uncolor, did you have any last words for the audience of this play today?
No, thank you so much for having the opportunity to talk to you and to speak with the community. This has been Ray and thank you so much.
Yes, thank you so much. I hope that everyone in this place enjoys this place in Fokora with you more and more success in the future as a community member.
I really appreciate the work you are doing and that is the end of this play. Thank you so much. Thank you everyone for spending time zoning this play today. Have a good day.