AMA Recap Crypto Library with Hodlnaut


On 28th October 2021, Hodlnaut conducted an AMA in the Crypto Library Community. Our guest is Chang Teck. Lots of questions as usual from the Community about Hodlnaut progress. The Hodlnaut 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 Hodlnaut.

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

Crypto Library Team : So, before we start the AMA could you please introduce yourself to our community?
Chang Teck (Hodlnaut) : Hello! My name is Chang Teck, or you can call me CT, and I am the Social Media Manager of Hodlnaut. I manage all the social media platforms of the company like Facebook, Twitter, Telegram, and Reddit so if you do come across any funny posts or memes, that's all me!

Being the most front-facing employee of the company, I am responsible for portraying the company in the best possible light as I can! So if you have any other questions or concerns on the platform, don't be shy, feel free to DM me, or join our channel and talk to our members there!

Being into crypto wasn't something I envisioned in the past. Having worked at this company for close to a year, I have learnt and experienced so much more than what education has taught me over the past 20 years!

Crypto Library Team : What is Hodlnaut? and how your team begin the process of creating this project??

Chang Teck (Hodlnaut) : Hodlnaut is a Singapore-based fintech startup that provides financial services to individual investors and crypto enthusiasts. Started in April 2019, Hodlnaut is quickly rising to become one of the most promising crypto lending platforms in Asia.

Our founders, Juntao Zhu and Simon Lee were Bitcoin maximalists who wanted to make it easier for individual investors like yourself to earn high interest rates on your crypto!
We also wanted to beat the rates of traditional banks and bring financial freedom to everybody!

Our team found out that there was a high demand to earn on your crypto besides capital gains. Through the platform, the founders aim to offer an alternative solution for hodlers where they can grow the productivity of their digital assets. 

Hodlnaut is able to offer attractive interest rates to users through Interest Account by lending the asset to vigorously vetted margin traders in the form of crypto loans.
Crypto Library Team : What are the features and advantages does Hodlnaut want to offer?
Chang Teck (Hodlnaut) : The features that Hodlnaut wants to offer are the following:
- Preferred Interest Payout feature. This feature is a unique feature and a standout versus our competitors because we allow you to earn in your favourite asset, by just depositing one asset. How does this work? You can simply deposit USDC to earn interest in Bitcoin, and then start earning interest on that Bitcoin as well. It's a very innovative way for users to DCA their way into the 'blue-chip' crypto with stablecoins.

- Hodlnaut Affiliate Partner Program. Are you a content creator? We offer very lucrative bonuses of up to USD14,500, and also an opportunity to stack this bonus on top of any ongoing promotions or bonuses just by you creating insightful content for us and referring users to join Hodlnaut!

- Token Swap feature. You can easily swap your tokens seamlessly on our platform, at no fees! We offer a comparatively tight spread as compared to exchanges out there and you can also secure your Token Swap price with our 'Lock Price' feature in very volatile situations.

- Nexus Mutual Insurance. Optional Insurance on your crypto! Afraid of losing your crypto due to hacks or halt in withdrawals? Individuals can choose to pay a low premium to insure their crypto, and the advantages of this is that you can continue earning with peace of mind!
Crypto Library Team : Could you provide some information about your Roadmap, And what milestones that you have reached so far?
Chang Teck (Hodlnaut) : Our roadmap can easily be found on our website here. But for the purpose of this AMA, I will make it convenient for everybody!
We have actually come a long way since we started 2 years ago in 2019!

In 2021 alone, there were several milestones like:
- Crossing $100m Assets Under Management in January
- The launch of an innovative feature, Token Swap, in March
- Our second Financial Attestation of $234m Assets Under Management in April
- Reaching 5,000 active users in May
- Adding support for Wrapped Bitcoin in July
- Introducing Preferred Interest Payout in July
- Reducing withdrawal fees, launch of iOS app and introducing higher interest rates in a tiered structure in August.

We have just launched our Android App today, and are also doing a big giveaway where you can win up to 2,000 USDC in prizes!
Join our social media channel to find out more!
Additionally, we are introducing a promotional referral program for you to earn up to 1,000 USDC simply by referring users to join Hodlnaut!

In the near future, we are looking at the following features:
- Portfolio Management
- Automated Swaps
- A debit card for crypto cashback
- New networks and assets on the platform
Crypto Library Team : What are the upcoming plans, and future goals of Hodlnaut?

Chang Teck (Hodlnaut) : Upcoming plans of Hodlnaut would be to expand our team as the company grows! If you are interested to join our team, check out the link here.

We are also aiming to expand our reach to the rest of the world, and have even more active users. the current goal we are aiming for now is more than 10k users at the end of the year, so we are hoping you can help us achieve it!

We have just released our Android App and are doing a giveaway to celebrate!
Crypto Library Team : In my opinion, Hodlnaut is a promising project and it is possible for hackers to monitor this project. What can you make sure investors feel safe? Can you explain the security system adopted by this project?
Chang Teck (Hodlnaut) : At Hodlnaut, we take a security-first approach, and we do not use hot wallets (which are vulnerable to online attacks). Instead, we use Fireblocks' multi-party computation wallet infrastructure where each user will be assigned a unique address generated by Fireblocks. When cryptocurrencies are deposited with Hodlnaut via the unique address given to our users, they are received through the Fireblocks' secure wallet infrastructure.

On the backend, Hodlnaut will either transfer the cryptocurrencies to our self-custodied cold wallets or lend them to borrowers.

The platform runs on a secure cloud infrastructure on AWS, and all traffic is encrypted with SSL encryption. We encrypt and anonymise as much data as possible on our servers. Additionally, we use industry-standard algorithms for password hashing and procedures. We also require Two-Factor Authentication (2FA) when users log in to their account or make crypto withdrawals. Rate-limiting and Captcha security measures are implemented on certain account operations, such as your login attempts.

These are some of the measures we implement to secure our IT infrastructure:
1) Using secure AWS cloud infrastructure and encrypting all traffic with SSL encryption. We no longer support legacy encryption methods with known vulnerabilities.
2) Ensuring servers and services are continuously monitored and run the latest security updates.
3) Making sure that internal-facing applications have separate access controls and are not exposed to the public internet.
4) Ensuring that our engineers get real-time alerts to solve any issues immediately.
5) Designing our infrastructure and features to be reliable and scalable.
6) Usage of firewalls to keep our network secure Additionally, we have IT security tools such as intrusion detection to detect unauthorised access to our systems and data. Our domains are protected with DNSSEC to prevent certain types of man-in-the-middle attacks. All server connections are logged and require multi-factor authentication. Direct password authentication, as well as public connections, is not possible.

We also conduct periodic Vulnerability Assessment and Vulnerability Testing (VAPT) on our infrastructure to strengthen our security position.
Crypto Library Team : Competition makes many startup projects suddenly abandoned because they don't get enough revenue. How do you convince us that this project will continue even though your initial income is low?
Chang Teck (Hodlnaut) : With regards to this, we have actually done Financial Attestations with an auditing firm, Crowe Singapore who are one of the Top 8 Auditing firms in the world.

You can find our attestations below:

We are also actually growing more than 10% month on month! Users are streaming in to HODL their crypto on our platform because it is one of the easiest and most convenient ways to earn interest on their crypto.

Additionally, we are currently applying for a Major Payment Institution License with the authorities in Singapore and are currently granted an exemption to operate under the regulations set by the government - so this gives users an assurance that we are doing everything we can to comply as best as possible to government regulations and make user funds safe, and that we are growing!

Crypto Library Team : Referral / affiliate program  is important to expand the community, and as i see HodlNaut have this features for its community,,,, may you tell us about affiliate program by  HodlNaut, who is eligible to join? and the tier level of it, how it works? and whats the rewards?
Chang Teck (Hodlnaut) : Yes, we have an affiliate program where any user can join! The affiliate program allows you to earn a 10% commission of your referred user interest earned, weekly.
For example, if your referred user earns $100 interest a week, you will earn 10% of that, which is $10!
The commission is forever until we change the promotion.

You also earn interest on the commission!
Besides that, if you are a content creator, we have a Partner Program where you can earn up to USD14,500.
You can check out the link here, and contact us to see if you are eligible.
Also, we have a current promotion on our Android now where you can easily earn up to 1000 USDC! Check out the promotion here
Crypto Library Team : Do you have AUDIT certificate or are you working to AUDIT your project, so that the security of the project becomes more secure and reliable?
Chang Teck (Hodlnaut) : With regards to this, as we comply very strictly to the rules and regulations set out by the Singapore Government, we need to conduct an audit every year.
In application for the Major Payment Institution License in Singapore, there are very strict requirements we must meet.
You can read them here.

We have so far been granted an exemption to operate in Singapore, so that means we are doing things right!
You can check out our name in this list here.

With regards to assets under management, I have answered the question in Segment 2, where we have links to our Financial Attestations.

Crypto Library Team : How important is the community to Your project? and How can we collaborate or help share token for the development of the project?
Chang Teck (Hodlnaut) : Our community is very very important to us!
If there are any questions or help you need, 
contact us immediately at 
or chat with us in our telegram channel at

Without our community, we cannot be where we are today. We need you to continuously share about the benefits of our platform, like having the highest interest rates on Bitcoin and Ethereum so that we will one day be on the moon!

Also, follow our social media channels, remember to like and comment on our posts as this gives our employees a lot of love and support!

Crypto Library Team : You mentioned no fees when swapping in Hodlnaut. but how will you maintain the platform if you provide free services? Can we know the Hodlnaut revenue model?
Chang Teck (Hodlnaut) : Yes, Token Swap on our platform has no fees at all!
We are able to provide a no-fee system as we keep our spreads on the swap very tight.

Our users have even mentioned that our Token Swap is one of the best services as compared to our competitors!

For revenue wise, we are not able to disclose how exactly we make money as this is private and confidential.

However, we can say the following:
Interest rates are evaluated based on market demand and our earnings from the previous month. While Hodlnaut aims to keep interest rate stable, it is subject to change.
Our interest rates will be updated once a month based on the prevailing market conditions. Historically, we have only changed our interest rates twice. We will definitely inform our users beforehand if we are planning to adjust our rates in the future!
We lend out funds to vetted corporate institutions and they put a collateral with us. So far, none has been liquidated so far because of our strong vetting process!

Crypto Library Team : let me ask, as far as i know SINGAPORE is banned and strictly forbids crypto. what if you don't get a license from the SINGAPORE government? what about customer funds in it? please respond
Chang Teck (Hodlnaut) : You must be mistaking Singapore with China. Singapore is not in China, and Singapore is a country by itself.
Crypto is not banned in Singapore, in fact, the government in Singapore is trying to support it!

As mentioned in previous questions, they have legal frameworks and a structure in place for institutions like ours to comply to and get a license for.
We are in the midst of applying for the license and we are hoping to get it real soon.

However, if we do not get the license in the end, we have several contingency plans in place to make sure the business continues running!

Rest assured that users always will have the final say in what they can do with their funds.
If the government in Singapore suddenly changes their minds, we will find other ways to make sure to offer a very good service to you.