Multichain decentralized structured market Skyrim Finance creates powerful asset management tools based on customizable products
With the continuous development of crypto infrastructure, the upper layer containing the DeFi protocols is also seeing unceasing iteration through financial activities such as lending and borrowing, providing liquidity to AMMs, or minting synthetic assets. Therefore, the users are having the opportunity to receive returns under different asset deployments.
As a combination of financial derivatives, Structured Products (SP) is normally derived from a series of derivatives in order to achieve certain revenue.
The multichain decentralized structured market Skyrim Finance is planning to cover the shortage existing in the market of investment tools, package different derivatives and create the products accessible for everyone without worrying about the underlying complexity of the structure. In a broad sense, Skyrim Finance aims to develop financial products customized for all clients.
Question 1: First of all, let’s welcome Johnny Lee to join our community for the first time. Please do a brief introduction to Skyrim Finance including its emerging background as well as the vision and the problems it is supposed to solve.
Johnny Lee: Hi there guys. Thanks for having me here.
So we position Skyrim Finance as the First Multichain Decentralized Structured Finance Marketplace. If you take a look at our website, it says Skyrim Finance aims to build the Robo-Advisor of DeFi ecosystem.
The objective of Skyrim Finance is to help investors of different profiles have risk-adjusted returns through fixed-rate and leveraged-yield DeFi products.
I think this is a very interesting narrative.
Humans aren’t emotionless beings even if we try, and it certainly can be a problem when it comes to managing our portfolio. Read an article on Trading Psychology, and it always says the same thing: that being hot-headed (fear, greed, lack of discipline, etc) is very costly.
So we might appreciate an automated entity to help us leverage the best yield mixture for BSC, Polkadot, and Ethereum-based assets. That’s where Skyrim will be the solution!
According to our market research, Robo-advisors currently manages around $460 billion, and this industry is expected to grow to $1.2 trillion by 2024.
Question 2: We know that Skyrim Finance team has extensive experience in financial mathematics, computer science, and cryptography. Shall we invite Johnny to do a brief introduction to the core team members? How did you get to know each other and in turn create the project Skyrim Finance？
Johnny Lee: Sure thing.
I am currently responsible for Skyrim Finance’s marketing and community growth.
Just a short intro about my background. I have been in this space since early 2018. I think I have been witnessing the boom of cryptocurrency. After some time working for people in several decentralized projects and CEXs as well. I decided to launch my own career in this space.
I like to think of myself as a guy who worked on almost all positions in crypto.
My partner Peter, the Co-founder of Skyrim Finance, has extensive experience in investment, project development, investor relations, and financial product design. Over his experience, he has invested in a decent number of crypto startups and also led derivative products design for leading financial institutions, including Citigroup, J.P. Morgan, and HSBC.
Question 3: Skyrim Finance obtained comprehensive attention from the market in its process of growth, which we believe can’t be achieved so fast without the support of your partners. Could you share with us the current financial status and cooperation progress?
Johnny Lee: Yeah sure.
In May, we officially kicked off Skyrim Finance operation with a deep dive article on why we embarked on this journey and what value we can bring to this space.
Decentralized Finance, But Structured — A Deep Dive Into Skyrim Finance
Since that, we have been bestowed with so much support and love from crypto communities. And just a week later, we closed our $2.1 Million private round fundraising.
Skyrim Finance Closed $2.1 Million Private Sale I Round Fundraising
With a series of Bounty Programs and community events, we believe we have generated enough momentum to set $SKYRIM to the right orbit.
And we already partnered with Kylin Network, Thorstarter (our IDO partner), and already secured seven more partnerships, which will be rolled out after our TGE event.
Question 4: Skyrim Finance is planning to create an entire DeFi product ecosystem with risk-adjusted returns. The products mainly focus on structured finance. So what exactly is structured finance? What structured financial products does Skyrim Finance plan to adopt?
Johnny Lee: We build this project because we think there is a massive void our team can fill in this market. The DeFi market consists of at least two general types of DeFi investors. We aim to create a blended product that fits between these two target markets so that participants can have a single touch hedged approach to DeFi.
And with the flexibility and customizability of Structured Finance and DeFi, we will be able to execute the strategic planning adequately.
Structure Finance can be considered as a combination of financial derivatives. It is usually a structured product that derives from a series of derivatives, with a purpose to achieve a certain return.
We now know that being hot-headed (fear, greed, lack of discipline, etc) is very costly. I think that is why we want to use different approaches to systematize everything.
Question 5: With the developing process of DeFi market, now we’ve already had multiple types of financial activities, such as lending, trading, liquidity mining, and synthetic assets. How do you see the current developing status of DeFi market? What is the position of Skyrim Finance in this market? And what do you think will be the future developing trend of this domain?
Johnny Lee: Personally, I am very happy to work with some of the smartest people I met in the business. And in the past few years, all of us in the crypto space have been in the front seats bearing witness to an extraordinary wave of DeFi innovations and the explosive growth that comes with them, especially in the sectors of decentralized trading, lending/borrowing, options, fixed-rate return, algorithmic stable coins, synthetic assets, and more
The objective of Skyrim Finance will never change. It is to help investors of different profiles have risk-adjusted returns through fixed-rate and leveraged-yield DeFi products.
I am absolutely bullish about the future of decentralized finance. Do you guys know that DeFi TVL just reached its All-Time High. It bounced back right away after the market correction.
And I am equally bullish about Skyrim Finance because DeFi is bound to take off and Fixed-Rated products will have their place in the decentralized market.
Question 6: Skyrim Finance is expected to establish two major DeFi products, Fixed-rate APY and Leveraged APY. Can you do a brief introduction to them? What role do they play among the product set of Skyrim Finance? And what are their running mechanism and product features?
Johnny Lee: The objective of Skyrim Finance is to help investors of different profiles have risk-adjusted returns. Fixed-rate and leveraged-yield DeFi products are the categories we are going to build for the users in our marketplace.
These two products are all trying to achieve one goal and one goal only, which is to bring risk-adjusted returns to our DeFi users. The unique features of our DeFi products are based on Structured Finance. We want to design it in a way that can be customized for different DeFi users.
Question 7: Skyrim Finance is planning to launch on different public chains such as ETH, BSC, and Polkadot. So what are the protocols supported by Skyrim Finance on these public chains? Will there be any differences for products on these chains? Will you consider other public chains such as Solana, and Near in the future?
Johnny Lee: At this moment, we plan to launch on ETH. Then we will tap into the Binance Smart Chain communities and finally integrate ourselves into Polkadot when the technical roadmap is clear.
Launching on ETH is an obvious choice because this is how we can drive as much adoption as possible. Of course, we are not ruling out any other public chains or ecosystems because we aim to be inclusive. Being multi-chain is our mission.
I personally don’t think there will be much difference in Polkadot because at the end of the day, it is all about creating a great user experience. We definitely want our marketplace users to enjoy using our product. And we will do everything to offer them a seamless experience.
Question 8: Skyrim Finance is also planning to achieve interoperability through NFT, so on which NFT protocols does Skyrim Finance plan to support the assets? Will you consider launch structured NFT products as well in the future?
Johnny Lee: Oh we love the trend. We firmly believe diversity makes this space better.
As you can see here that we are built with the vision to be interoperable with NFT
But at this moment we are not jumping on the bandwagon to issue our NFTs because after all the first priority of Skyrim Finance is to bring risk-adjusted returns to DeFi users.
Question 9: Skyrim Finance designed a dual token economy, with the two crypto-native assets being $SKYRIM and $TRANCHE. So how is the tokenomics designed? How do you incentivize the users to hold the tokens in the long term? What are the application scenarios of the token?
Johnny Lee: We are structured with a dual token model.
SKYRIM being the utility token and TRANCHE is the governance token.
There are a total of 100 million $SKYRIM tokens
And TRANCHE tokens can be staked and used for liquidity reward
$SKYRIM is the utility token in the protocol. It plays the role of protocol fees and system incentives. It is also used as future innovative products grants and solution rewards.
$TRANCHE is the governance token of the protocol. Token holders can create and vote for proposals. The project will be governed by communities completely using Quadratic Voting.
Question 10: Talking about the token, we know that Skyrim Finance will launch IDO on Thorstarter soon. Can you share with us the regulations of the token sale? Any KYC or whitelisting process needed?
Johnny Lee: Yes. We have planned a lot for this token launch.
Anyone interested might want to visit our Twitter or telegram. Just to share a few announcements to get you guys up to speed.
Token launch details & timeline: https://twitter.com/SkyrimFinance/status/1428689580190928901
$SKYRIM Genesis Round:
Please follow us for more updates including IDO instruction, IEO listing, etc.
Question 11: What are some other plans Skyrim Finance has after the IDO? Will you launch new DeFi financial products? Will you be compatible with more protocols? Can you share with us the roadmap of your project?
2021-Q2 Official Website Launch
2021-Q2 Product Wiki Release
2021-Q3 Development of Fixed-rate Yield
2021-Q3 Token Generation Event
2021-Q3 Deploy the Smart Contract on Ethereum and BSC
2021-Q4 Launch Testnet of Fixed-rate Yield Vaults
2022-Q1 Liquidity Mining Program Launch
2022-Q1 Release Roadmap V2.0
Our products and marketplace will be rolled out gradually after SKYRIM TGE. Actually, some of you already knew that we had our prototype and demo video ready a while ago.
But with the recent DeFi hacks, we decided to take a pause and started to review everything all over again. As for the safety measures, we will do it in a very scrupulous way. So before we launch anything we always conduct code audits with our partners.