RAZOR NETWORK AMA WITH ROUTER PROTOCOL— MARCH 12 2021
Razor network had an AMA with Router Protocol on the 12th of March 2021.
Ramani Ramachandran and Priyeshu Garg from Router Protocol joined the Razor Network telegram community for the eventful AMA. They gave an overview about the Router Protocol and also talked extensively on the Galaxy Farm initiative.
Details below :
AMA
Divij
Goodevening Razor Network Community. Lets Welcome @Rsquare007 and @priyeshu from Router Protocol for todays AMA.
P
Hi Razor community, glad to be here today!
Ramani Ram
Good evening @divij33 and the Razor community
Divij
Glad to have you guys here. To begin with can you share a brief background about yourself and how you got into crypto ?
Ramani Ram
Indeed — I got into crypto few years ago while making markets for private securities such as Airbnb, Uber etc. I created a technology on a bitcoin sidechain (pre Ethereum) where these could be traded. Previously I was in Finance and Product Management, across the US, Europe and SE Asia
Divij
That’s a pretty impressive background.
Ramani Ram
Since then have been building and learning in the ocean that is crypto! We have built a range of products on the research, exchange, asset management, derivatives side of things..
Ramani Ram
Thank you
Divij
Amazing. Can you briefly describe how does Router Protocol work ?
Ramani Ram
(waiting for Priyeshu profile)
P
Hi I’m Priyeshu Garg. I handle content and strategy at Router Protocol. My journey to crypto started in 2012 where I was introduced to Bitcoin when it was at almost 50$, at that time I didn’t focus much on it and then later it came back into my life again in the cryptography class at university. Thereon I started writing articles for Bitcoin (mind you, even Vitalik Buterin started as a Bitcoin writer!), further I began writing for reputed magazines in crypto industry and then I pivoted to fundraising for projects. After that I became a giga farmer once the YFI journey started and then I envisioned the future problems there will be due to liquidity fragmentation and hence the Router was born since Ram also faced such problems and we decided to join hands together..
Divij
[In reply to P]
Dang 2012 . You’re one of the Crypto OGs
Ramani Ram
Currently, the liquidity is fragmented across different Blockchains and there is no chain that acts as a superhighway to allow transition from one chain to another. Router fixes this by offering a superhighway to distributed liquidity islands.
Ramani Ram
Clearly it is going to be a multiblockchain universe, and platforms and infrastructures will expand in scope and nature and complexity, like a nation growing fast, in to various cities and towns on the chain. Router is building the infra that connects these chains
Divij
This problem definitely needs a solution and glad you guys are working on it. I’m tiered of changing between ETH, Matic and BSC as well
Ramani Ram
indeed!
The final solution will be a sort of a seamless 1inch across blockchains
Divij
Looks like you got a user in me 😉
Ramani Ram
also letting other use cases build on top of this infra
[In reply to Divij]
👌🏽
Divij
Let’s move on to the next question.
Ramani Ram
yes
Divij
We’ve been hearing about Dfyn Exchange a lot since the launch of GalaxyFarm. Can you explain what Dfyn is and how does it work ?
P
We started off with a layer-2 Matic Based exchange on Matic Network which offers a gasless AMM experience. The exchange is live and has over $2 million worth of liquidity at https://www.dfyn.network/ . Dfyn’s Galaxy farm offers a unique Stake-1 Farm-Many approach where users can stake Razor and farm Razor, Route, Matic, Easy, OM.
It just so happens that our team built Dfyn first, but we are not really competing with any venue on any chain. What we are focused on is ultimately building the bridges and the highways between the venues
Ramani Ram
Dfyn is a venue, a city. Router is the connecting infra. Dfyn provides trading and swapping like traditional exchange and in the future like lending venues. There will be a node of Dfyns as well as other third party venues that Router will plug into. A bit like the hub and spoke model
P
Here’s an insider scoop for those who are reading this AMA : In near future, we are going to launch a Dfyn token.
Ramani Ram
(retrospective airdrops etc etc)
P
[ 🎩 Sticker ]
Divij
[In reply to Ramani Ram]
Now this sounds exciting.
Divij
Jokes aside. Really like the concept of a dex on Matic Network.
Ramani Ram
In fact galaxyfarm.routerprotocol.com, the group farming on Dfyn has been a great success. We are closing in on 2.5m liquidity in under 24 hours of launch, and this is a great way to farm multiple tokens simultaneously on L2, while providing liqudity on any one pair
Divij
[In reply to Ramani Ram]
Hahhaha. You stole a major part of my next question
Ramani Ram
More broadly we will be expanding on these initatives with partners such as Polygon and Razor etc to get more people to L2
😅
Divij
Lets jump to that now
Ramani Ram
[In reply to Divij]
no-brainer, and there will be multiple differentiated venues, like with Eth
Divij
Firstly Congratulations on Launching GalaxyFarm and achieving 2.5 Million TVL within a day of launch. What was the idea behind GalaxyFarm and how does it work?
Ramani Ram
The idea was to get a few different projects to port over to an L2 Dex at the same time, and let each community benefit from all the other communities. Given the nature of blockchain where the sum of 1+1 is greater than 2, this has been a grand success.
Some key advantages here for users
- gasless farming, arb between pools based on TVL etc, slick, smooth farming experience
P
Galaxy Farm is a Layer-2 yield farm based on Dfyn.network, i.e. the projects and participants will have to add liquidity on the Dfyn.network to be able to participate in the L2 GalaxyFarm which will introduce gasless farming for this ecosystem.
Projects from the Polygon and Ethereum ecosystem will be participating in GalaxyFarm to reward their communities in the cross-project farming experiment.
The project will run in cohorts and there will be a minimum of 3 cohorts. A project can be part of 1 or many cohorts. Assuming, there will be 6 projects in each cohort. Router and Polygon will be participating in each cohort, which leaves space for 4 projects in each cohort.
The special thing about these farms is that users will be able to stake just 1 LP pair and earn rewards of 6 different tokens at the same time. For example the user staking ROUTE will earn tokens of ROUTE, POLYGON and 4 other cohort participant projects at the same time. The rewards will be distributed in equal ratio. For example 60$ rewards will mean 10$ of ROUTE and 10$ of POLYGON and so on.
Ramani Ram
that captures it nicely
one interesting thing is, when you are farming a basket of tokens, it is like owning an ETF
for instance, folks that have been farming have also had a bit of Matic being yielded, which has been nice
the price risk is non binary in our volatile markets
Divij
Multiple benefits to everyone. Who doesn’t like it.
This brings me to my next question.
Ramani Ram
and given no gas costs, you can switch to another pool seamlessly if it has a better APY and still get the same basket
yes please
Divij
How is GalaxyFarm different from any other LP Staking and Farming?
Ramani Ram
To our knowledge, there is nothing quite like Galaxy farm on Dfyn that brings it all together — L2 on a snappy, seamless UI, no lock-ins, liquidity also earning fees through liquidity provision on the AMM DEX Dfyn. Also these are great projects we are talking about, all top teams. Lastly, there is the upside of plugging into the emerging Router liquidity aggregation infra across chains — imagine being able to seamlessly port between BSC and Matic for instance, we are not too far away from that. Also, there is the impending Dfyn token around the corner, which as you can expect from the current market for exchange tokens, is widely anticipated
Divij
[In reply to Ramani Ram]
Can’t wait for all these developments to go live.
Ramani Ram
Indeed
Excited to be partnering with Razor on the Oracle side of things as we expand across chains as well
Divij
[In reply to Ramani Ram]
We are excited to partner with Router Protocol as well.
[ 😄 Sticker ]
Divij
Before we move on to the Community Round. Can you share some sneak peak of features being added in the next Cohort ? 😉
Ramani Ram
More interesting projects for sure, and some competitions to incentivize various communities to increase participation and liquidity on Dfyn. Most of the dev work is around the crosschain bridge which we hope to have by Cohort 3 or 4, at which point it will get really interesting
Divij
[In reply to Ramani Ram]
These incentives will surely excite the communities and expand the whole ecosystem.
Ramani Ram
btw there are some amazing APYs for Razor — USDC pair on Galaxyfarm. 62% APY across 5 tokens
currently
Divij
[In reply to Ramani Ram]
👏🏼👏🏼👏🏼
Are you guys ready for the Community Round ?
Ramani Ram
yes please
Divij
AMA Phase 2: Community Round
❗️The Group will be unmuted for the community to ask questions for a few minutes.
❗️Each person can write only 2 questions per round.
❗️Questions copied from previous AMA’s will be disqualified.
Chat will be unmuted shortly.
AMA Phase 2: Community Round
Lonely Day
Most DeFi projects especially those ones offering yield farming are driven up by hype and scarcity, so when the hype dies the project dies. What’s the key to sustaining Your Project yield farming ?
Bobi
Assets on matic network now — but when i go over to dfyn exchange to swap out eth for matic (to stake router/matic), the price impact is showing 9%
any ideas?
Tahira Siddiqui
What are the objectives and goals that you plan to achieve in the forthcoming future? Can you please tell us the motivation and benefits for investors to hold $Route in long term? #AskRouterProtocol
RisanBabu
A big problem for many Defi projects seems to be that when you start farming, the price goes down because people are emptying to put liquidity into the farm. Will there be an incentive to retain and not just farm and dump?
Reinhard Van Astrea
Do you have any Coin Burn / BuyBack systems or any Token Burn plans to increase the value of Token & attract Investors to invest?
Bobi
What are the other upcoming initiatives that are being worked on by the team behind OpenDefi?
Modhur Ma
Is there any other benefit for those who will participate in your pre sales?
RisanBabu
With all the yield farming hype, a lot of tokens are offering rIdiculously high APY on liquidity staking. How does Galaxy compare, and why would an investor choose it over other yield farming opportunities?
Asia Carrera Dipangkas tak tersisa
Are you is a global project or local project? Can anybody anywhere use Your project without any restrictions?
John
DeFi, Staking and Yield Farming are hot topics right now in our Crypto Space, My question is, did you make this project only for the short term because of these hot topics? Do you have a long term plan for this project?
ANSWERS
Ramani Ram
[In reply to Tahira Siddiqui]
We believe Router liquidity aggregation will be an important component of the emerging multichain ecosystem. To that end, definitely a lot of the value created will aggregate at the token, which is Route
P
[In reply to Asia Carrera Dipangkas tak tersisa]
It’s a global project like rest of DeFi ! No boundry
Ramani Ram
[In reply to John]
We have been in crypto for a long time now, in fact we built the world’s first stablecoin DEX called Fordex, in collabortion with 0x, way back in 2018–19. However, we were a bit ahead of our times. So Defi is not something we stumbled into recently
In fact I also occasionally blog at satoshiandco.substack.com and as you can see we have been talking about DeFi from late 2018 or so!
P
[In reply to RisanBabu]
We will have single asset staking for our native token with better yields
P
[In reply to Lonely Day]
We are partnering with new projects which agree to distribute their tokens to dfyn stakers. It’s a win win for everyone and this way we can do yield farming without emptying our wallets.
Ramani Ram
[In reply to RisanBabu]
L2 experience, ability to get into an emerging exchange on the ground floor, pedigree and experience of team and partners
Ramani Ram
[In reply to Modhur Ma]
Router is done. Dfyn private sale is done, we will be announcing some public sales on a couple of platforms shortly
Ramani Ram
[In reply to Reinhard Van Astrea]
Yes definitely, this will be part of the future..
Ramani Ram
[In reply to Bobi]
This might be a question for the OpenDeFi team ; ). However from a ROuter + Dfyn perspective, we have our hands full with just growing out the Dfyn nodes and connecting them with ROuter infra, and also adding additional nodes and other exchange venues on to this infra!
Ramani Ram
[In reply to Bobi]
ROUTER/MATIC liquidity is still growing, try the Router USDC and Matic USDC pools, there will be less slippage
Ramani Ram
alternatively you can try to execute in smaller quantities. Easy enough given no gas costs and instant execution
Ramani Ram
in fact you can even arb with other matic venues and even Uniswap sometimes
Ramani Ram
OK
Divij
That’s all Folks!! We would like to thank the Router Protocol team for an amazing AMA and wish them the very best for their future developments.
Ramani Ram
Thank you @divij33
Ramani Ram
much appreciated
Divij
Anything you’d like to share with our community ?
P
Thanks all, make sure you follow our socials :
Website: http://routerprotocol.com/
GalaxyFarm URL : https://galaxyfarm.routerprotocol.com/
Dfyn Exchange: https://www.dfyn.network/
Telegram: https://t.me/routerprotocol
Telegram announcements: https://t.me/router_ann
Dfyn Telegram : @dfyn_hq
Ramani Ram
It has been a pleasure engaging with the Razor community and getting to know Divij and Hrishikesh and the team. Hopefully we will be working more closely as communities to build out what is surely an exciting time in decentralization
Divij
[In reply to Ramani Ram]
Indeed. Definitely looking forward to working more closely with you guys.
Ramani Ram
also the galaxyfarm is at galaxyfarm.routerprotocol.com
Ramani Ram
do check it out
Ramani Ram
Thank you and good night, folks
Divij
Thank You once again.
