Crypto Revolution AMA Recap with Our Head of Product Patrick Kim
Shadows is a hub for issuing, trading, lending and borrowing synthetic assets. Crypto Revolution is a successful cryptocurrency and blockchain Telegram channel made up of a group of enthusiasts, investors and traders. Besides sharing knowledge and discussing what is going on in the cryptocurrency industry, the channel, which has almost 10 000 members to date, hosts AMA sessions with many respected and upcoming blockchain projects to raise their awareness.
Here is our AMA session today,
1. Online interview.
2. Free Q&A session by Patrick and Community members. Patrick will pick some good questions
Danny | Crypto Revolution: Shadows Network AMA is starting，Welcome Happy to have you with us today.
Patrick: Hi Danny .Thanks for having me on, happy to connect here with your community.
Danny | Crypto Revolution: Could you please introduce yourself and tell us how did you get involved into Crypto?
Patrick: Sure, most of my crypto story starts this year as the market peaked my interest from a trading standpoint. Having 18 years of experience working in the financial services industry and technology, I was initially intrigued by smart contract technology and then DeFi.
That was when I discovered Shadows, an extraordinary DeFi project aimed at bringing more financial investment options to the crypto community.
Danny | Crypto Revolution: That’s great. How do you compare traditional Finances and Crypto?
Patrick: First of all you have to learn to speak different hahah，there’s so many fun lingo in crypto，then you have to learn how the markets are much more impacted by retail investors and community, which you see also now in traditional equities but obviously with less impact than crypto…
Danny | Crypto Revolution: True
Patrick: From a trading ROI perspective, there’s no comparison. Crypto has so much more opportunity and momentum
Furthermore, it’s just starting and there’s so much innovation to be made in this space, quite exciting for someone like me that builds products and very blessed to work with a great team, Shadows are connected with good people like you brother!
Danny | Crypto Revolution: Thank you
Danny | Crypto Revolution: We see this year more and more Institutions are getting involved in Crypto. You think the nice Bull Run we have will continue for a long time
Patrick: Personally, I think this year changes the crypto industry completely. The institutional interest is on another level and asset managers are all eyeing crypto if not already building a bag.
From my point of view, Defi is what changes the crypto game and so I’m super bullish on defi projects
Starting with yield and lending, it’s a matter of time before giant asset managers start seeing what’s possible in Defi and take advantage of the yields.
Danny | Crypto Revolution: As well as me
Patrick: I believe that in itself will bring massive AUM/TVL into DEFI and will strengthen the bull momentum but also help with the months and years to follow.I think we all are HOPEFUL for this outcome haha
Danny | Crypto Revolution: Perfect. Thank you for sharing your personal opinion mate
Could you please introduce Shadows Network in Layman’s term to the Community and also share your Progress with us. This is Shadows 2nd AMA in our Community. First one was prior Listing
What have you guys established so far?
Patrick: Sure I’ll start with what Shadows is.
Danny | Crypto Revolution: Let’s go!
Patrick: We are a Defi project that brings financial derivative products to market. In the traditional finance world, the derivatives market is estimated at $1.4 quadrillion globally which lends itself to massive potential.
Second, a derivative is a financial instrument that allows investors to hedge or speculate against a real asset without actually holding it. The most common products you may have heard of are futures, options, and commodities.
Shadows will be trading platform that allows our community to trade on these assets against others in the pool to generate ROIs based on these underlying products
Danny | Crypto Revolution: Awesome
Patrick: Next, I can share where we are today.
Danny | Crypto Revolution: Let’s see.
Patrick: Earlier this month, we launched our bep20 token on Binance Smart Chain. DOWS, our token, can now be traded on Pancake swap, and we have staking benefits for our users with attractive yields
both in LP and single token
Danny | Crypto Revolution: Could you please share them? Staking benefits
Patrick: Sure, we have LP mining staking for those providing liquidity on Pancake swap with DOWS/BNB
Danny | Crypto Revolution: Nice!
Patrick: Additionally DOWS holders can stake their DOWS as a single token on our app to also get attractive yields in DOWS
Danny | Crypto Revolution: Your app?
Patrick: Yes that is correct on our app link ->
Additionally our dev team has been aggressively working towards a product beta to introduce our trading platform.
Danny | Crypto Revolution: Nice. What’s the expected APY on staking btw?
Patrick: Currently LP staking on Pancake Swap is 1,000% APY, and DOWS yield is 276% APY
Danny | Crypto Revolution: Wow. That’s really good man!
Patrick: Yea, pretty nice at this point!
Danny | Crypto Revolution: What kind of challenges you faced in last 2 months?
I’m sure you have people complaining about Price. Lol
Patrick: First major challenge was making a strategic move towards BSC
When I had joined the team, the dev work for our platform was originally done on erc20 and I proposed that we strongly consider going towards BSC
Danny | Crypto Revolution: Smart move.
Patrick: It just didn’t make sense for users to pay these high gas fees for trading on our platform, it would have been unusable literally.
These changes in our roadmap, got some people concerned and impacted our price as they wanted to see our product
However it was essential for our team to build on a framework that allows our community to use our platform in an easy to use, and cost effective way.
BSC allows for that, and we see a huge growth in the past few months for usage on BSC
So at this point, our team is very confident in our approach
Danny | Crypto Revolution: Great progress
Patrick: Time will tell, but we have a strong team and have a lot to deliver this year.
Danny | Crypto Revolution: Where are you at your Road Map now and what can we expect in the next few months?
Patrick:Very exciting for us at this point, as we work to launch our product on the BSC network
We plan to first roll out to testnet and then do a public release in the next 4–6 weeks
It could come sooner but at this point that is a conservative target date
Danny | Crypto Revolution: What Marketing plans do you guys have for the upcoming weeks/months?
Patrick: Many, we have very strong support from dozens of very influential KOLs in this space. I know our community has been disappointed in not seeing so much activity but that is because we are focused on our product launch, which is what our KOLs want to see.
When we get closer to our product demo & launch, we shall see much momentum with our partners and network and of course our awesome community
Danny | Crypto Revolution: Awesome man. Oh well you will always have my Support around
Patrick: Awesome, we are so blessed to have support from you and others
Danny | Crypto Revolution: Thanks for covering all my Questions. Ready to get some from Community?
Danny | Crypto Revolution: Okay Chat. Slow Mode is ON. 30 seconds for your Questions
Jani Na:What is the structure of Shadows Network , is it decentralized or an open sourced protocol where everybody can contribute? If so, how does the governance plan on being handled?
Patrick: Fully decentralized and open. We plan to have governance voting for future features from our DOWS holders
Lovely_DC: On Twitter I saw ShadowsNetwork “$ DOWS #staking will take place on May 3 and the first period will run for 30 days” So, How do I enjoy it? How can I join there? If I am late, is there a solution? Then, what are your plans after this? Are you going to a listing exchange? Then, where will SHADOW register?
Patrick: Yes you can stake Pancake LP or DOWS directly on our app -> http://app.shadows.link
ERMD18: How safe is Shadows for users? And does Shadows guarantee complete security for users?
Patrick: We have been fully certified by Certik. Please see for reference: https://certik.org/projects/shadows
Ash Ketchum: Lending, Borrowing and other DeFi services are so much repeated in many DeFi projects, so what is the real innovation that Shadows Network is bringing to DeFi? What are you able to do that other cannot?
Patrick: Yes lending and farming is huge in DeFi. Shadows will be focusing on being a derivatives leader in DeFi, as there is a lot of room for innovation and growth.
Infoplus: NFT is emerging as a new trend, so Shadows Network has plans to integrate more NFT into the ecosystem?
Patrick: Not at this time, no plans for NFTs.
Kathyallvin: What is the top priority at this moment? What is your plan ahead to boost the value of $DOWS in the market and many traders or investors will buy $DOWS?
Patrick: As mentioned earlier, our next step of releasing our product V1 will be a huge milestone for our DOWS holders!
CRYPTO || SUDI JAYA: Nowadays Many projects rug pulled and exit scam. Why should investors trust this project not to do the same?
Patrick: We are here to stay for the long run. I have an 18 year track record of building some of the most exciting financial platforms. I intend to do the same here with our awesome team.
Lah: How do I buy $DOWS tokens? is there a minimum purchase and when will $DOWS list on major exchanges such as binance, Coinbase and any other exchanges?
Patrick: Right now, you can get DOWS on Uniswap and Pancake Swap. I recommend Pancake Swap because it’s much easier and cost effective to trade on BSC
Sarath: During the build of Shadows project, do you take into account any of the community feedback or demands to further expand the new ideas for the project?
Patrick: Yes, we are always talking to our community and value their opinions as they will be ultimately the users of our platform
Danny | Crypto Revolution: Btw you guys plan any Tier 1 CEX Listing soon?
Patrick: We are definitely in the talks and going towards this direction
Danny | Crypto Revolution: Great ❤️
Danny | Crypto Revolution: Thank you for your Valuable time. It was great to have Shadows again.Final Words for Community please.And please select the Winning question
Patrick: Thank you again for having me on, it was a pleasure talking to you and your community! I look forward to seeing you all again when we roll out our product which is coming very soon. Super excited to bring this to the market.
Patrick: For any questions, you can reach out to Shadows Network via:
Website | Telegram | Twitter| Github | Weibo