AMA Recap Crypto Library with Raze Network

                                         

On 25th June 2021, Raze Network conducted an AMA in the Crypto Library Community. Our guest is Justin Kellison. Lots of questions as usual from the Community about Raze Network progress. The Raze Network team took part in a very interesting AMA session which included introductions, questions from twitter, and a live AMA session with the Crypto Library community. If you missed the AMA in person, read this recap for a deeper insight into Raze Network.

Let’s take a look at the most interesting points of our conversation.

INTRODUCTION
Crypto Library Team : So, before we start the AMA could you please introduce yourself to our community?

Justin Kellison (Raze Network) : I am Justin Kellison. I have been a contributor in the crypto industry for around 4 years now, and have worked with few multi-million dollar DeFi projects. I have mostly worked on the marketing front and have created exposure and content for the projects I have managed. I came into crypto in late 2017 and stayed throughout the bear market, learning and growing my network meanwhile. Through my network I came in touch with the Raze team and joined them in this beautiful journey! My focus here will be on growing and strengthening the RAZE community, and create ELI5 content for them. The one most asked for.
FIRST SEGMENT (HOST)
Crypto Library Team : What is Raze Network? and what features and products does Raze Network want to offer us?

Justin Kellison (Raze Network) : Raze Network is a second-layer protocol that will provide cross-chain payment privacy for the entire DeFi stack of the Polkadot ecosystem. Since the Zether framework we use was designed to support the Ethereum account model, the Raze contract will support both tokens issued in the Polkadot ecosystem such as DOT & Kusama as well as ERC-20 cross-chain private payment. Through our RAZEVM integration, we will be able to connect to any DeFi or Web3.0 product, and then mint privacy tokens in 1:1 ratio. By using zero-knowledge algorithms, the identities of involved parties, balance and transaction amount will be anonymised, thus protecting privacy to the fullest extent. Our targeted market is really huge, as we can connect to any chain which supports smart contracts. Ethereum, Polkadot, Binance Smart Chain, Harmony, Polygon and IOST will be amongst the first ones!

Crypto Library Team : Could you give us some reason why we have to choose Raze Network than other projects out there?

Justin Kellison (Raze Network) : You can't have true crypto adoption if every transaction you do is public on blockchain ledger. This is not good for both professional and personal life. This increases security and safety risks, and potential FUD/FOMO/Leakage of info in the business side. This is the field we are targeting, providing privacy to transactions which are meant to be private. Other privacy projects usually focus on just one service, while Raze Network can connect to any DeFi or Web 3.0 product out there and use the services provided by them in a completely anonymised manner. This is something unique we are offering. Plus we are also not limited to one chain or ecosystem. Raze Network can connect to any chain which supports smart contracts (Eg: Ethereum, Polkadot, Binance Smart Chain, Tron etc). Thus we can cover almost all of the DeFi ecosystem!!

Crypto Library Team : Please tell us about $RAZE token! What are the token use-case, distribution, and where we can buy it?

Justin Kellison (Raze Network) : $RAZE token will be required for all transactions on Raze Network, as a gas token. This is one of the biggest utility for $RAZE token.
  • $RAZE is a privacy-preserving token, and will also act as a Governance-token. Community will be able to propose changes in the protocol, and then vote on it to implement the changes.
  • $RAZE token will also be used to provide liquidity reward, to incentivise the liquidity in the decentralised ecosystem.
  • Also a small portion of the transaction fee will be burned, thus $RAZE supply will be deflationary.
  • Also covered in our Docs: https://docs.raze.network/getting-started/token-economics
Atm, Raze is listed on Uniswap, Pancakeswap, Gate io, and few other exchanges: 
Crypto Library Team : Could you give us some information about your roadmap, your milestones, and also your future plans?

Justin Kellison (Raze Network) : Currently we are working on our substrate-based smart contract, which is using zkSNARKs algorithms. Our roadmap consists of various privacy-focused products which will include Raze Swap (AMM), Raze Lending and Raze Bridge. All these services will be available on our layer-2 privacy-preserving network. This means we will be building our own privacy-focused ecosystem on our own layer-2 network!

We have partnered with 30+ projects since our launch, and are excited for our Testnet (coming in July). Mainnet will be our biggest milestone as you can predict
SECOND SEGMENT (TWITTER)
Crypto Library Team : Raze Network is considering enabling a cross-chain trading and payment system that maintains privacy, and has the ability to move seamlessly between the app and the blockchain, so what measures does it use to control risk?

Justin Kellison (Raze Network) : The asset is actually minted on our own chain, and our code is open-source for anyone to cross-check. Plus it is audited by Certik, which is a well-known Audit firm. We can also collaborate with insurance protocols to give additional sense of security to our users!

Crypto Library Team : The security system is very important to avoid hackers. How do you do for project security? Do you have a specific security system for your project? And do you also provide special security guarantees for users/investors?

Justin Kellison (Raze Network) : As said above, no bug was found by Certik when they did their audit for the Raze Network. We also actively promote people to contribute by finding bugs, improving protocol. Security and privacy is top priority of Raze Network, and we will take all necessary steps to enhance it as much as possible.
THIRD SEGMENT (LIVE QUESTIONS) 
Crypto Library Team : Reading about the project, I noticed that they have a partnership with Phantasma Chain to provide privacy at the NFT level. But, with Raze Network's technology how can you create an anonymous version of an NFT that is supposed to be immutable?

Justin Kellison (Raze Network) : NFTs are also created at smart contract levels, so this is possible for all NFTs too. NFT is an emerging sector, and we will be able to provide privacy to them.

Crypto Library Team : In the next quarter of 2021 ,Raze Network will launch its Protocol and Product. So,can you tell us what will be the product that is going to launch in Raze ecosystem?How does this products helps the the innovation and development of Raze?What kind of protocol will be run in Raze?

Justin Kellison (Raze Network) : Mainnet will be launch in next quarter. Then users will be able mint private tokens directly from their preferred platform. We have partnered with 30+ defi projects, and we are eager to integrate our product with their protocol.

Crypto Library Team : Can you tell us the advantages of mining RAZE in a totally private way? And how do you make it totally anonymous? Is it in your plans to incorporate other cryptos to this type of mining or will it only be limited to RAZE?

Justin Kellison (Raze Network) : If you know about "liquidity mining", then just imagine the same process on a private layer. All transactions done on Raze chain will be totally anonymised, thus no one will be able to track it. That's why we call it "anonymised mining".

Crypto Library Team : From what I understand Raze Network can connect to a variety of networks as long as they meet one basic feature, being VM compatible. But, can you give details of which are these chains that meet this basic feature?

Justin Kellison (Raze Network) : Any chain which can support smart contracts. We have already partnered with IOST, Harmony and Polygon on this front. Plus various projects on ETH, Polkadot and BSC. Cosmos/tendermint ecosystem is also something which is in our reach.

Crypto Library Team : What strategic advantage does Polkadot give your model? Why did you choose it as the basis for your project?

Justin Kellison (Raze Network) : Raze Network is built using the susbtrate framework. Polkadot is an emerging ecosystem. You can build and upgrade your infrastructure without forking it. You will also not face congestion and high transaction fees on Polkadot. Plus you can build your own application-specific chain, which can connect to other application specific chains seamlessly. Such interoperability will open new paths for Decentralised Finance. We will also use the NPoS consensus mechanism like used by Polkadot network.
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