AMA RECAP : CRYPTOSTALKERS x PARASSET.

6 min readAug 4, 2021

🗓 DATE : 27 July 2021

⏰ TIME : 11 AM UTC

Guests : PARASSET Team(Cathy — Technical Director).

INTRODUCTION

Navi:
So, First of all, our community will love to know more about you and your team & how long you’ve been planning and building “Parasset”?

Cathy:

My name is Cathy, and I am the technical director of the Parasset community. Today, I am thrilled to be the guest here to share the concepts and product details of Parasset.

I have been working in the roles of blockchain smart-contract development and project operations for 4years.

We admire and agree with their belief in decentralization, and NEST is the only decentralized oracle globally.

When they were discussing Parasset, we agreed with their ideas, so that’s why I joined the tech community later.

Navi:
2: Please enlight the main concept behind “Parasset”, what are some features of Parasset?”

Cathy:

Parasset is a lending and synthetic asset protocol that integrates the fully decentralized NEST oracle. Users can mint p-assets, such as pETH, pUSD, etc. on Parasset by pledging NEST/ETH.

Parasset not only meets the demand for stablecoin lending but also serves as a synthetic asset to meet the real demand of miners within the NEST ecosystem so that the demand does not overflow while increasing calls to oracle and keeping the value in the system. Parasset solves the problem of price quotation and asset inventory.

Miners could create parallel assets simply by holding the “collateral asset”. By quoting through parallel assets, mining and holding coins are mutually unaffected.

Navi:

Impressive! How about impermanent loss of NEST/ETH pair?

Cathy:

Parasset is lending protocol

so there is no risk of impermanent loss

but do have risks of liquidation

Navi:
3: Share tokenomics and tokens vesting Schedule, shoot us links where we can buy your token?

Cathy:

Token Name: ASET

Total Supply: 100Million

Liquidity Providers: 70%

Private Round: 15%

Public Sale with IDO: 5%

Team: 10%

So based on the chart we can see that the release is liner and will be distruibuted in 4years.

Navi:
4: Can we have more details about “Parasset Insurance Pool” and how it works?

Cathy:

Parasset’s insurance pool is an important part of systematic risk control. The presence of an insurance fund keeps the parallel assets and the underlying assets in a 1:1 equivalence relationship. The increase in the size of the pool reinforces the anchoring of the value of the parallel assets to the underlying assets.

Navi:
5: Community is strength of any project, What measures Parasset team have taken to BOOST community efforts?

Cathy:

We already get connected to many partners in the field, and we are constantly looking for all kinds of talents to join the Parasset community. There will be an announcement related to this soon, you can follow our Twitter and join our group to get the latest information.

Navi:
6: Which company is the auditor of Parasset?

Cathy:

We chose Certik. So far, CertiK has provided quality services to more than 500 corporate users and has protected more than 3million USD of digital assets and software systems from loss.

Navi:
7: How does pUSD secure price stability?

Cathy:

The mechanism of pUSD combines hard anchoring + soft anchoring. Fast-minting allows returning of the p-asset price to the anchor and the stabilization fee works as a soft anchor.

When pUSD> $1, through fast minting (deposit USDT in the insurance pool to get pUSD), the supply of PUSD will rise and the price will fall.

When pUSD <$1, through fast minting (deposit pUSD in the insurance pool to get USDT), the supply of PUSD will decrease and the price will increase.

TWITTER QUESTIONS.

Navi:
8: Please could you explain a little more about the PARASSET INSURANCE POOL? also, what would be the reward for participating in the INSURANCE POOL?

Cathy:

Insurance Pool play as a 2nd layer of the risk control system. The Insurance Fund LP Earns 4 Types of Returns: Transaction fee of 0.2%, Stabilization fee, Liquidation residual value, and ASET token.

Navi:
9: I found Parasset has three tokens namely, $PUSD, $PETH, & $PBTC . Can you explain the difference and USE CASE of these three tokens in your ecosystem? why did you create three different tokens?

Cathy:

All these tokens are p-asset, which are pegged to the underlying assets. All of them can be used in the Insurance Pool, and can also be used in the Nest price quotation mining, there are many other use cases too. (Note, there are only PUSD and PETH at the moment)

Navi:
10: Parassets are lending assets. May I know what conditions will apply to this program: minimum and maximum loan size, terms, interest and collateral?

Cathy:

Parasset is an overcollateralized protocol, so right now there is no minimum and maximum loan size for individuals. The protocol supports ETH and NEST as collaterals at the moment but will support tons of other assets in the future. There are Stability Fees which you can consider as “interest rate”, and it is dynamic will be constantly changed based on many factors.

LIVE AMA QUESTIONS.

Mary:
How can I buy this token? Is it available on any exchange?@Cathy_para

Cathy:

ASET is not available on any exchanges yet, you can follow our Twitter to get the latest information.

Premis:
Which one of these aspects is important for you?
1-Increasing Token Price & Value
2-Empowering Platform Development
3-Building Community Trust
4-Expanding Partnership Globally
In what order?

Cathy:

All of these aspects are very important for Parasset. If I have to put them in order then it will be 2341

Murtagh Ima:
Are you planning to promote your project in countries / regions where English is not good? Do you have a local community for them to better understand your project?

Cathy:

Parasset is a global project, we will try to make it accessible for the users from different regions. We already hosted an AMA in a Korean-based community, and we will continue to do more AMA and other events for non- English speakers in the future.

Mary:
Almost 80% investors have just focused on price of token in short term instead of understanding the real value of the project. Can you tell us on motivations and benefits for investors to hold your token in long term?@Cathy_para

Cathy:

Parasset is backed by many top-tier investors, and it is audited by Certik. One of the visions of Parasset is to become the Uniswap in the lending category. So we work hard and aim for the long-term goal.

Obuj Bisti:
I want to invest in your project. But I have a little doubt. Can you please assure us that like other scam projects, there is no possibility of cheating?

AMA RECAP : CRYPTOSTALKERS x PARASSET.

INTRODUCTION

TWITTER QUESTIONS.

LIVE AMA QUESTIONS.

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Written by SB