Welcome back to the sixth episode of Inside Aleph Zero where we aim to bring you closer to the people and projects in the Aleph Zero ecosystem!
This time, we would like to introduce you to a project, that will definitely become a key pillar and important infrastructure piece for the whole ecosystem. Yes, we are speaking with ABAX, community-driven, non-custodial lending protocol, built on the Aleph Zero network.
AZERO.ID: For the start, please give us a description of what ABAX does!
ABAX: Abax Protocol is a decentralized non-custodial lending protocol powered by smart contracts and blockchain technology. It offers individuals and other smart contracts the opportunity to earn a reliable passive income by depositing cryptocurrencies, which are then securely lent to borrowers against their collateral or through the innovative flash loan mechanism.
Abax DAO is a forward-thinking Decentralized Autonomous Organization dedicated to aligning the interests of its members. With this alignment, we aim to soar to new heights and create exceptional products. Abax DAO’s primary objective is to deliver and govern the Abax Lending Protocol.
AZERO.ID: What makes your product special?
ABAX: Abax Protocol stands out due to its unwavering commitment to efficiency. In the Abax Community, we firmly believe that in today’s fiercely competitive market, the key to success lies in offering a superior product, particularly in terms of potential profitability. Abax Protocol has been meticulously designed and developed with this core principle in mind — to provide users with an efficient and high-yield solution. This focus on optimizing efficiency sets Abax Protocol apart, making it a remarkable and exceptional offering in the cryptocurrency and blockchain space.
Our distinctiveness in the world of DAOs lies in our innovative governance model, which draws inspiration from Proof of Stake (PoS) principles. Unlike traditional approaches, our governance model aligns the interests of our community members, setting us apart from other decentralized organizations. This PoS-inspired design not only fosters cooperation but also positions us as pioneers in redefining the future of decentralized governance.
AZERO.ID: What was the reason to choose Aleph Zero as the underlying Blockchain?
ABAX: Absolutely. There are several key reasons driving our choice of Aleph Zero:
- We foresee a heightened interest due to Aleph Zero’s robust privacy features.
- Aleph Zero’s transaction speed is truly impressive, offering us a competitive edge.
- We believe in harnessing the latest innovations, and Aleph Zero’s integration with the Polkadot ecosystem aligns perfectly with our goals.
AZERO.ID: What are the biggest challenges for you right now?
ABAX: One of our primary challenges is the absence of a robust on-chain price oracle akin to the functionality that Uniswap offers. We’re also facing a challenge concerning the absence of a rapid oracle system. This lack of a well-established and swift oracle infrastructure within Aleph Zero poses a significant obstacle in achieving certain functionalities and transactional efficiencies that are pivotal for our project’s objectives and seamless operations.
AZERO.ID: What major milestones or developments can we anticipate in the project’s roadmap for the first quarter of 2024?
ABAX: In February, our primary focus revolves around refining tokenomics within the community and preparing smart contracts. Concurrently, we plan to initiate audits for the Governor, Governance Token, and Token Generation Contracts. Additionally, our aim is to audit the Abax Lending Protocol. Upon successful completion of these audits, we are gearing up for the project launch.
AZERO.ID: How can our readers join the ABAX community?
ABAX: Our Linktree has all the links to join our community. Everybody is welcome: https://linktr.ee/abaxfinance
AZERO.ID: Thanks a lot! We are excited to continue watching your path in the Aleph Zero ecosystem.
The ‘Inside Aleph Zero’ interview series aims to introduce you to key individuals and projects in the Aleph Zero ecosystem. All participants in this format have their domains officially reserved for the mainnet launch according to our methodology.
Keep posted and follow this series to get to know exciting projects and individuals in the Aleph Zero ecosystem!
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