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Community is at the heart of web3 especially given governance structures. DeFi and NFT communities are the best out there. Web2 doesn't empower communities in the same way and as a result, doesn't inspire the same passion.

MaticNews x 0VIX AMA Recap and Transcript

MaticNews: Let’s kick start with an introduction of you and your team, which are your past experiences and roles?
0VIX: Sure, first of all thanks for having us on today!
My name is Garry. I am a serial Fintech entrepreneur, and former trader/banker in a bigger asset management company.
Before I went into Crypto, I have been working in FinTech and helped build N26 - one of the largest mobile banks in the world, after which I co-founded Cookies App (the Venmo of Europe) which has been sold to Swedish Fintech Klarna. I also founded VAI Trade which was an AI driven online lender for Shopify stores that was sold to the German bank Volksbank just before Covid hit. I got involved in DeFi during DeFi summer of 2020 and saw clearly that this was the future of Finance.
We have a world class team at 0VIX team that consists of 35+ professionals, spread across 3 continents, with deep crypto/DeFi expertise and with roots in banking, finance, tech as well as more than 10 years of experience in building multi-billion dollar tech companies such as, Consensys, Binance, Deutsche Bank and Sovryn to name a few.
MaticNews: This is an amazing introduction! Especially about your past experiences, a key point of success for the future of the protocol.
0VIX: Thank you for having us, we are big fans of what you do! 💜
MaticNews: Please give us a brief introduction on http://0vix.com !
0VIX: Yeh sure, 0VIX is the first veTokenomics lending market with dynamic interest rates on Polygon. So in short it’s a DeFi money market where assets can be used as collateral to borrow other assets.
The protocol provides novel and battle-tested solutions for retaining liquidity, ensuring the health of the protocol and fostering the growth of the Polygon ecosystem. 0VIX’s game-changing dynamic interest rate model has been designed to seek the lowest borrow rate volatility in DeFi.
The protocol has been stress-tested in detail in 0VIX and Polygon’s market risk assessment research paper( https://0vixprotocol.medium.com/0vix-the-money-lending-protocol-of-polygon-6d1608e353dc ), and by leveraging a veTokenomics formula for sustainable DeFi yields, 0VIX has created a solid and secure foundation to build on Polygon’s ecosystem of more than 19,000+ apps and Polygon Edge (Blockchain-as-a-service). With Polygon, 0VIX benefits from impressive liquidity as well as low transaction fees and fast confirmation times on a decentralized, safe and secure network. Polygon's EVM also allows 0VIX users to benefit from well-known and user-friendly on-ramps, wallet technology, and interfaces.
MaticNews: I confirm that it’s the first protocol on the chain and could really become a top 5 TVL protocol on Polygon in the next months.
Out of curiosity why did you choose this name? Is there any background history?
0VIX: The name 0VIX comes from zero volatility as we aim to reduce volatility (VIX is also known as the volatility index) .
Our innovative dynamic interest rate model will have the least volatile interest rates in DeFi, therefore, ensuring the health of the protocol.
Also, 0VIX is the zeroth layer of the DeFi stack. Our goal is to become the most integrated DeFi protocol on Polygon and power fintech as well as enterprise via Polygon Edge. The 19,000+ apps on Polyon ca utilize 0VIX as a foundational layer and create complex financial products that help the entire ecosystem grow.
MaticNews: I think that this is the best market moment as possible to develop a protocol with the aim to reduce volatility. Incredible room to grow and looking forward to see 0VIX integrated with many Dapps on Polygon!
Which are the issues that 0VIX aim to resolve?
0VIX: 0VIX solves some of DeFi Lendings’ biggest issues, such as unsustainable and high-volatility yields during Black Swan events. We’ve built a robust quantitative in-house framework to assess the risks DeFi users get exposed. 0VIX has been stress tested to the max to ensure the health of the protocol.  Also as proven by Curve Finance, utilizing veTokenomics creates a positive feedback loop for sustainable yields and fosters community engagement.
MaticNews: Talking about the security side, the clichè question that we ask in all AMAs:  are there any audits or KYC done?
0VIX: We have already been audited by Peckshield and WatchPug, and got a number of audits in the works. You can see our twitter announcement below
https://twitter.com/0vixProtocol/status/1531316889737216005 To access the DeFi protocol you don’t require to provide a KYC.
MaticNews: Thanks for the further confirmation, I suggest that everyone reads the audit reports. Quite importantly most of the team is doxxed, positive sign of long term commitment.
What are the oTokens?
0VIX: oTokens are  ERC-20 receipt tokens that are minted and burnt upon supply and withdraw of assets to an 0VIX market.
When a user supplies an asset to a lending pool on 0VIX, the corresponding oToken will be issued to track the funds that they lent out and also the interest they’ve earned. Each asset has its own oToken, for example, If I deposit USDC, I will receive oUSDC, if it’s DAI, then I will receive oDAI and so on.
MaticNews: Simple and clear, potentially each token could become oToken, is it correct to assume?
0VIX: Well every token on the 0VIX platform that can be used to deposit or borrow has a corresponding receipt token aka oToken.
MaticNews: Why did you choose to focus on the Polygon ecosystem?
0VIX: Well having been personally a Polygon Advocate for almost a year now, I have been very closely experiencing the growth of the ecosystem and all those 19,000 dApps.
We believe Polygon is the best scaling solution out there and has a shot at being a top 3 chain after BTC and ETH. I see them as leaders in tech such as with ZK rollups and Polygon Hermes. We feel very lucky to get support from Polygon and we are very bullish on the ecosystem.
Furthermore, we see Polygon Edge as the best option for 0VIX to be multichain as we see the next $100b coming to Defi will come from Fintech and Enterprise.
MaticNews: We see you have a dedicated community and a strong ambassador program. How do you see the role of community in web3?
0VIX: Community is at the heart of web3 especially given governance structures. DeFi and NFT communities are the best out there. Web2 doesn't empower communities in the same way and as a result, doesn't inspire the same passion.
The goal of the 0VIX Chad Ambassador program is to onboard creative Web3 enthusiasts passionate about DeFi and Blockchain technology to support the growth of the 0VIX protocol worldwide by engaging our community of Alphas, Degen's, Learners and Problem-solvers in outreach activities aimed at creating meaningful impact for 0vix. Currently, we have almost 200 Chads supporting us. 0VIX Chads earn a base bounty for the work plus performance bounties.
Check out our pinned post on Twitter and the 0VIX Chad Twitter and join the family on discord.
To become Chad:
Learn about 0VIX: [https://buff.ly/3sG5KmK]
Apply to be a Chad: [https://buff.ly/3sjhFGZ]
Check out the bounties: [https://buff.ly/3G0AAvW]
Join the discord: (https://t.co/hKM8aKbzzj)
MaticNews: I hear you have a big airdrop incoming, can you share some alpha?
0VIX: Yes! If you become a beta tester and use 0VIX.com plus give us valuable feedback via the discord feedback channel https://discord.gg/0vix  you will be entitled to an airdrop! Also if you make it into the 0VIX Chad ambassador family you can also get a juicy airdrop 😉
Without sharing too much alpha all I can say is that the total value of the airdrop will be in the 7-digits most likely...
MaticNews: You are really building a Polygon “Community Protocol”, would you like to add something else?
0VIX: Yes, please go and check out our links:

Website: [http://www.0vix.com/]
Twitter: [https://twitter.com/0vixProtocol]
0VIX Chad Twitter: [https://twitter.com/0vix_chads]
Telegram: [https://t.me/OVIXProtocol]

Discord: [https://discord.gg/0vix]

Medium: [https://medium.com/@0vixprotocol]
Gitbook: [https://docs.0vix.com/]
MaticNews: Thank you for joining our MaticNews community for the AMA!
0VIX: Thanks for hosting us, it was a great time!















Written By

Petrache Ionut

Jun 7, 2022