Questions and Answers from our February AMA
At our latest Ask-Me-Anything Twitter Spaces, we discussed a wide range of topics related to Fringe Finance and responded to some of your most pressing questions.
In this post, we’ll transcribe some of our answers for those of you who weren’t present live.
#1. What’s the Fringe Finance team’s take on current market conditions?
In today’s rapidly changing crypto market, it’s necessary to keep in mind that no one can predict the future. There are bigger macroeconomic trends at play that will continue to influence the crypto ecosystem, such as the ongoing interest rate adjustments by the Federal Reserve of the United States.
Multiple factors are in play. Although the crypto market is displaying signs of improvement, we don’t believe that it is fully recovered or entirely healthy. Right now, our take is to continue to examine the market and wait.
#2 — When will we start the first phase of bootstrapping? Uniswap needs immediate liquidity improvement.
As we have mentioned before, bootstrapping will be directly linked to a market recovery and to positive signs that it will result in greater adoption of the Fringe Finance platform. We’re currently working on improving different aspects of the platform, therefore, bootstrapping can only happen once the latest stack of releases has successfully concluded. This means that we need to complete the new interest rate model, make sure multi-chain is working properly, and release the Amplify platform, among other things. This is to make the most out of these programs that will certainly have an impact on our own economy and will dramatically change how the market perceives Fringe Finance.
#3 — zkSync is still a few months away from launching. Can we port to Arbitrum before that?
The short answer is that we are considering both. If zkSync has any delays in their launch, we will consider Arbitrum first, but, as for now, our plan is to release first on zkSync.
#4 — Will the $FRIN token be available at zkSync as the Fringe Finance platform goes live there?
Yes, that is the plan. Although, with these kinds of roll-ups, anyone can bridge whatever token they need using a public bridge. So this is not necessarily something that falls within the responsibility of the team, but is something the community can take into their own hands.
#5 — Any plans for Twitter activity growth?
Right now, we are assessing a change in the strategies that we implement marketing-wise. We are rolling out complex financial products that are built for professionals and with professionals in mind. As such, we are considering shifting our marketing strategies to reflect that. You can expect more in-depth content, more building-in-public content, and for our general social media presence to become more geared towards technical users, developers and finance professionals.
This doesn’t mean that we will abandon our current user base. It’s just apparent to us that there is a disconnect between our community and the users of these platforms. As such, we want to get as close as possible to building a presence that can onboard new users into the Fringe Finance platform.
#6 — How will the team fund the development now that Paul has an empty wallet? Are they going to use the Treasury wallet?
This affirmation does not have any basis to it. There is nothing compromising the development and deployment of Fringe Finance or its funding.
#7 — After $FRIN is deployed on zkSync, we need liquidity for liquidity providers and liquidity pools. Are there going to be some incentives for liquidity providers?
Yes, that is contemplated within the bootstrapping program, although the specifics of it are yet to be seen.
#8 — You say that there are going to be marketing activities as the market changes to a bullish sentiment. So my question is; when marketing? Because we got bullish sentiment for weeks.
It’s funny how, just a couple of weeks ago, the narrative on crypto Twitter was “this is the biggest bull trap I’ve ever seen.” And suddenly, one or two weeks after that, the narrative has changed to “we’re in full bull market mode.” The reality is that a slight uptick in the prices of some tokens does not necessarily mean we’re in a bull market. As such, we have to play our cards carefully.
No one will be hurt by waiting too long to ride a wave but you can definitely get hurt from trying to ride a wave that does not exist yet.. This is a topic that we care very deeply about, but we do not have any disposition towards rushing to try and catch the wave at its very beginning. In fact, we think that this kind of risk-taking would be irresponsible from our side.
Many things are going on at once and there are bigger macroeconomic trends that are going to continue to influence the crypto ecosystem. We do not necessarily believe that the crypto market is healthy and fully recovered, although it’s showing promising signs. Right now, our take is to continue to examine the market and wait.
#9 — Why have we chosen zkSync and not Arbitrum?
zkSync was chosen because of a combination of factors.
One of them is that their developers have been very nice and helpful in assisting the Fringe Finance team understand how to best port the platform into their ecosystem. Second of all, this decision follows a competitive focus. While there is a lot of hype surrounding it, zkSync is currently unreleased. As such, there are no lending platforms deployed on their ecosystem yet. This presents a unique opportunity for Fringe Finance to start on a level playing field and compete with the big players.
We are in favor of porting our platform to as many Layer-2s and other blockchains as possible. However, we also understand the need to take a thoughtful and strategic approach. Our priority right now is to carefully balance our time and resources to build the key features we have in mind for Fringe Finance.
#10 — What is our current TVL?
To see up-to-date information on Fringe’s TVL , check our DeFiLlama page. It’s currently around $69,300.
#11 — Are there any plans for advertisements to bring up TVL and make the platform buzzing?
We do believe that there are certain factors that will influence TVL. But we do not necessarily believe that advertising will be one of them.
Our focus is currently on creating content for professionals and existing DeFi users, increasing our exposure to external communities, and surviving any threats through censorship resistance.
We are also finishing up the developments that will allow Fringe to be a more competitive offer economically, such as the upcoming new interest rate model, and continuing to take advantage of opportunities like porting the platform to the zkSync ecosystem.
We believe that our plan is solid and will not deviate from it unless it’s proven wrong, or there is a significant opportunity, otherwise. In the meantime, we are prepared for a great year as all of these factors tie in together.
#12 — Are CEX listings something we’re looking at?
This is currently outside of our focus. Our current focus is on the factors that we’ve previously described. CEX listings are often expensive, difficult to maintain, and, in general, not worth as much as exchanges charge. As such, we believe that these initiatives should happen along with the growth in interest in our token, and not simply as marketing activations.
About Fringe Finance
Fringe Finance is a decentralized money market designed to unlock the capital spread in crypto assets regardless of their capitalization and supported network. With a next-generation DeFi lending & borrowing ecosystem, Fringe aims to unlock the dormant capital from traditional financial markets and all-tier cryptocurrencies.
For more information on Fringe Finance, visit our website.