AMA Recap Crypto Library with MoonSoon

                                       

On 30th September 2021, MoonSoon conducted an AMA in the Crypto Library Community. Our guest is Jhon. Lots of questions as usual from the Community about MoonSoon progress. The MoonSoon 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 MoonSoon.

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?

Jhon (MoonSoon) : My name is John and I'm the lead developer of Monsoon Finance (monsoon.finance). Monsoon Finance is a multi-chain privacy protocol. We are building a suite of privacy tools that can be used by every DeFi user of every smart contracts blockchain.
FIRST SEGMENT (HOST)
Crypto Library Team : What is Monsoon Finance? and how does it work?

Jhon (MoonSoon) : Suite of privacy tools that can be used by every DeFi user of every smart contracts blockchain. Monsoon uses zk-SNARKs to break the link between wallets in cross-chain and wallet-to-wallet transactions. When cryptocurrencies are inevitably used as forms of payment for every day goods and services, privacy is paramount, otherwise anybody you pay can instantly know your net worth. For example, if you go to the grocery store now to buy some food, the grocery store cannot ask your bank for your net worth or transaction history. However, all this data is public with blockchains. Therefore businesses can make judgments about you, or worse, adjust their pricing, based on your net worth. Monsoon solves this problem by allowing users to move assets from one address to another and from one chain to another in a private and decentralized way.

Crypto Library Team : What networks does Monsoon Finance support?

Jhon (MoonSoon) : We want to bring privacy to every smart contracts blockchain that can support it. This includes Polygon, BSC, Avalanche, Moonbeam, Acala, Cardano, Solana, Near Protocol, etc. We have already deployed an instance of Monsoon on Binance Smart Chain mainnet: bsc.monsoon.finance and Polygon testnet: matic.monsoon.finance.

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

Jhon (MoonSoon) : MCASH is first and foremost a governance token. That means that users stake MCASH to vote on proposals for the project, such as changing the protocol fee and choosing which blockchains should be supported and deployed to. In addition, the token is revenue-generating, meaning all fees generated by users using Monsoon services will be used to buy back and burn MCASH tokens. A protocol fee is taken on every private transaction, so the token price will have a floor supported by the utility of the protocol.

Crypto Library Team : Could you give us some information about your roadmap, your milestones, and also your future plans?

Jhon (MoonSoon) : We are building a multi-chain privacy bridge that we expect to release in alpha stage by January 2022. This privacy tool will be huge, allowing users to move assets across any blockchain in a completely private and decentralized way. Other than that we are working on deploying the Monsoon privacy service to many different blockchains. Our next deployment will likely be Avalanche testnet.
SECOND SEGMENT (TWITTER)
Crypto Library Team : Monsoon Finance is building a suite of privacy tools for every DeFi user of every smart contract blockchain. Currently, Smart contracts are still prone to bugs. could it be your smart contract? what is your solution to make your smart contract totally secure?

Jhon (MoonSoon) : Our wallet-to-wallet privacy tool is a fork of Tornado Cash, an audited and battle-tested privacy tool for Ethereum. However, we understand the importance of audits, and will ensure that any modified code is audited as well. Our privacy bridge, when completed, will also be audited. In addition, our token was audited by Armors and passed with flying colors.

Crypto Library Team : My question down pointing backhand index. Monsoon explains that the more deposits are entered into the contract, the greater the privacy of the user will be preserved. What relationship does the privacy of a user have with the amount of deposits registered in the Mosoon contract?

Jhon (MoonSoon) : The more deposits and withdrawals, the greater the privacy set, meaning the better the privacy. Think of it like a mixing service, where your coins can be anyone else's, so the more coins in the mixing pool, the harder it becomes to argue that any of the coins are linked to you deposit.
THIRD SEGMENT (LIVE QUESTIONS) 
Crypto Library Team : When making a withdrawal, Monsoon users must provide zero knowledge proof of how to deposit their funds into the Monsoon contract. In the event that an error occurs and these tests have not been submitted, what would happen to these funds? If lost, does Monsoon make it easy to get this deposit back?

Jhon (MoonSoon) : If your funds are in the smart contract, a zk-SNARK of the deposit transaction will always work, there is no case in which it won't work. Sometimes getting the data necessary for constructing the zk-SNARK can be difficult, but that's what the website is for.

Crypto Library Team : Does your project support staking program? if yes. how is your stake system work, what is the requirement for user if they want to stake in your platform? Do you have a Token Burning plan to increase Token value and attract Investors to invest?

Jhon (MoonSoon) : Yes, we are going to launch staking on Quickswap, that will be announced soon!

Crypto Library Team :  Are you working on any partnerships or marketing initiatives to help build awareness for your platform?
 

Jhon (MoonSoon) : Yes, we have a very big partnership being announced soon, please stay tuned to @monsoonann for this.

Crypto Library Team : The project is building a multi-chain privacy bridge but I would like to know how big this privacy tool will be to allow users to move assets across any blockchain? Will the gas commissions be low?

Jhon (MoonSoon) : Using our privacy bridge you'll be able to move assets cross-chain in a completely private and decentralized way. Gas costs will be low, as most of the supported blockchains will have low fees anyways.

Crypto Library Team : Where can i buy your token sir? Do u plan to listing in famous exchange near future?

Jhon (MoonSoon) : You can buy the MCASH token on Quickswap, MXC, or Gate.io.
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