AMA Recap Crypto Library with DEIP

                                          

On 02th November 2021, DEIP conducted an AMA in the Crypto Library Community. Our guest is Alexey Kulik. Lots of questions as usual from the Community about DEIP progress. The DEIP 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 DEIP.

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?

Alexey (DEIP) : My name is Alexey Kulik, I am co-founder and Chief Architect at DEIP. Our core team also includes Alex Shkor, who is our CEO, Yahor Tsaryk in the role of CTO, Dr. Dimitry Sidorovitch as our Chief of Innovation, and last but not east Nick Sysko, DEIP CMO.
FIRST SEGMENT (HOST)
Crypto Library Team : What is DEIP? and how your team begin the process of creating this project?

Alexey (DEIP) : At DEIP we are building an infrastructure for the decentralized creator economy. It includes multiple protocols, network, Web3 applications and various tools for the whole creator economy. Core parts of the DEIP are:
  • Creator Economy Protocol
A multi-chain protocol for tokenization and governance of creator economy assets. It enables on-chain discovery, evaluation, exchange, and licensing of intangible assets.
  • DEIP network
A domain-specific Substrate 3.0 based blockchain that implements the Creator Economy Protocol and provides interoperability with multiple other blockchains 
  • Web3 constructor
A modular, open-source no-code/low-code platform for building Web3 applications on top of the DEIP network.
  • DEIP token
We started DEIP in the end of 2017 as a very specific protocol and platform for scientific activities. The idea was (and still is but on a larger scale) to create an infrastructure where all scientists could get fairly rewarded for their contributions. As we developed this idea, we realized that there are actually many more use-cases, and what industry is really lacks is an infrastructure. Thus, we started working on the infrastructure for the creator economy, which includes all creators, starting from musicians and artists to scientists and inventors. This is how DEIP evolved over time and came to a state we have now.

Crypto Library Team : Could you give us some reason why should we believe in DEIP project?

Alexey (DEIP) : Sure. First, and this is very important, DEIP is built by creators for creators. Our team, being creators by the nature, clearly understands what challenges and problems we should address. Next, we have a truly amazing team, which includes talent from various industries and with very broad expertise: myself, Alex Shkor and Yahor Tsaryk are tech guys, who has been working on a distributed systems architectures for the last 10 years. Dimitry Sidorovitch has more than 20 years of experience in public traded enterprise giants, and he was CTO at Nokia Siemens Networks and he surely knows how to talk to our enterprise customers and partners. Nick Sysko has a lot of experience in marketing in various markets, starting from gaming and ending with blockchain. And also very important, we are now going of the stealth mode only after we became sure that our big idea is feasible to implement and run successfully. After multiple pilots during all the years, we see that it is indeed feasible, even though we have very ambitious plans. And now we starting to talk to communities as we are sure we won't disappoint anyone. 

Crypto Library Team : Please tell us about $DEIP token! What are the token use case, distribution, and how to join the pre-sale?

Alexey (DEIP) : DEIP token, or Creator Economy Currency as we call it, serves multiple roles in the DEIP infrastructure and ecosystem. 
  • Utility
DEIP token serves as a native cryptocurrency used in all kinds of financial transactions happening in the network (such as fees, rewards, smart-contracts etc.)
  • Governance
As a governance token, it provides holders with voting rights to determine the direction of the development of the protocol and ecosystem via  the election of validators and council members, and for the adjustment of the key network parameters through referendums.
  • Staking and yield farming
It allows all token holders to stake DEIP tokens on a specific N-FNT segment (industry) or specific portal in order to get additional revenue from transactions involving the underlying intangible assets in this segment.

We are currently running the presale, you can find all the information and guidelines regarding it here: 
The link for the presale registration is also available in a blog post, but I will share it here as well: 
Crypto Library Team : Could you give us some information about your roadmap, your milestones, and also your future plans?

Alexey (DEIP) : Sure. We have multiple shorter term milestones as well as a more long term roadmap. So, for the nearest future we are planning several important activities: 

1) We will start an IDO till the end of the year (December)
2) Launch of our canary network (an experimental network with live economy, which differs it from the test-net)
3) We are preparing the launch of our Portal Builders Program and also other supporting activities to help developers, creators and all community members to participate and help DEIP
4) Launching several use-cases we have been incubating internally to show off the capabilities of the network, protocol and Web3 constructor
5) Launch a public testing of the Web3 constructor

As for the long term goals and milestones, we are planning to release the yield farming (Q2 2022), Dynamic Liquidity Protocol (Q3 2022), and DEIP Council (Q4 2022). Launching mainnet is scheduled during the next 1.5 years once all previous steps are completed.
SECOND SEGMENT (TWITTER)
Crypto Library Team : I read an interesting program here, Deip has a Loan system for students and education. Can you explain in detail about this program? Specifically, how can a student apply for a loan and what criteria do they need to be approved?

Alexey (DEIP) : Ok, here I will cover two things that are related to this question. First, in DEIP and Collective Inteligence Labs (who is building DEIP) we are incubating several use-cases. One of such use case is VEDAI, which is a solution for tokenization of human capital via tokenization of Income Share Agreements. VEDAI itself is building a platform that will allow any education organization (such as bootcamps and universities) to get funding for the education programs upfront to finance the  Income Share Agreements (ISA) programs. Investors, on the other hand, will be able to invest in those organizations and will get a share of the tokenized ISAs (and all returns from these ISAs).  Second, VEDAI (https://vedai.org )serves as a service provider for Web3 bootcamp we are launching with our partners - Web3 Warsztat (https://web3warsztat.pl/) which will launch in Poland in the next months and then will be implemented in other countries as well. As part of this bootcamp we (and our partners) will cover education costs for students who will get a job at our partners. All other students will have to pay the loans according to the ISA , which is significanty safer and cheaper than usual loans and credits.

Crypto Library Team : Creator Economy Protocol is the base protocol for several specialized protocols including "DLP (Dynamic liquidity protocol) & CIP (Collective intelligent protocol)". Can you explain how these two protocols work and roles? What can both of them offer in this ecosystem?

Alexey (DEIP) : This is a good question. Let me start with Collective Intelligence Protocol. This is one of the most important (and difficult) things we are working on, and this is actually where DEIP basically started. Intangible assets are the assets of the future and crucial components of the creative economy. Some of these assets are of a very high value and some of them are not. Due to the nature of intangible assets, it is quite difficult to evaluate such assets. However it is possible, and in most cases evaluation depends on the opinion of domain experts. When it comes to the evaluation of intangible assets, trust is important to properly judge the quality of evaluation from domain experts. At DEIP we designed and developed a protocol that can potentially solve the trust problem in a radical way, by using our implementation of a proof-of-reputation class of protocols - DEIP Collective Intelligence Protocol. The Collective Intelligence Protocol is a part of the Decentralized Assessment System - a set of tools, frameworks, protocols, and agent-based simulation to build multidimensional proof-of-reputation systems and combine them with crowdsourcing mechanisms. Dynamic Liquidity Protocol (or as we call it a Decentralized Bank for Creators) is a way to provide creators access to the funds without any middlemen. In short, it is a continuous loan mechanism, which allows for the minting/loaning of dX stablecoins (e.g. dUSD, dEUR, etc.) in exchange for assets locked as collateral.
Those protocols are very important parts of the whole ecosystem, as they will enable creators to access funds for future creations and developments in a fully open environment, without middlemen, and with a fair evaluation of the price of their assets.Basically, all protocols working together will enable transition to the creator economy.

Crypto Library Team : It came to my attention that Deip plans to launch a portal building program in December. So, can you explain more about this program? What impact or benefits will it bring to the platform and users?

Alexey (DEIP) : Sure. Portal Builders Program is one of our top priority milestones now. This program is intended to boost the adoption of the DEIP , and will drive the growth of the ecosystem. Portal Builders Program is a program to finance the creation of portals (an industry specific gateways to the DEIP network) and will include not only financial support (part of all DEIP token supply will go to this program, as well as part of the funds  that will be raised during the IDO), but also a technical and business support from our team and partners.

Crypto Library Team : Can you tell us, has this project been audited? As we know, smart contacts are vulnerable to hacks, and to carry out an audit costs a lot of money. So can you tell us a little about that, because investors need to know?

Alexey (DEIP) : We are doing our best to make sure that all investors and users in DEIP are safe. This is why we are working with the leading auditors in the Web3 space - Certik. Currently, all our smart contracts that will be used for IDO are being audited by them. Furthermore, they will help us to make sure our Substrate-based chain is secure, so we will work on auditing it with them too. As well, we will go through an audit within Octopus  (https://oct.network/) appchain registration process where we are registering our canary network. Currently we are being audited in the Octopus Testnet (and will do in Octopus Mainnet right after it).

Crypto Library Team :  I read that DEIP made a tool called Web3 Constructor and it has two modes; no code and low code. Can you explain how this tool actually works? What are the features and differences of the 2 modes? And what benefits does this tool bring to your ecosystem?

Alexey (DEIP) : Ok, so let me first briefly describe what Web3 constructor is and why we need it. You can think of Web3 Constructor as Wordpress for Web3, as it is the simplest explanation. Basically, it is a modular constructor that allows building portals in DEIP ecosystem without deep knowledge of software development. How we came to that idea? We looked back in history to see what drove the adoption of Web2.0 and it was Wordpress, which allowed basically anyone to build websites (portals to Web2.0) and we adopted this idea, even though it is obvious that building such tool for Web3 is much more difficult. This is why we build construtor for our own protocol. Web3 Construtor works in two modes: low-code mode and no-code mode. Low code mode requires some understanding and skills in software development and blockchain, but allows to customize modules to better suit specific needs. No-code mode is what you can see in Web2.0 website builders - an editor with drag and drop functionality, where you construct portals using pre-built modules. Web3 constructor is already used  by us and our partners every day internally. No-code mode will be available for testing in a public beta in the upcoming couple of months. The main benefit for the ecosystem is that using Web3 Constructor more users will be able to create fully functional web3 applications in days, not months, and without specific skills or training.
THIRD SEGMENT (LIVE QUESTIONS) 
Crypto Library Team : DEIP achieves what many projects have not been able to achieve, the tokenization of assets of creators, whether inventions, art, music, movie scripts and much more, my question is how is the governance of these assets and the responsibilities of the project distributed? Is it possible to participate in the decisions before the launch of the network? do I only have to have its native token for the governance?

Alexey (DEIP) : First, regarding the governance of the protocol. We believe that all token holders should have a possibility to decide how protocol and ecosystem evolve. This is why we allow all token holders to participate in the governance and even dispute decisions made by Council. We are not speaking only about validators elections here, but also about, for example, decision on what relay chain providers to use for the mainnet. It is indeed possible to participate in decision making after the IDO (using the specific DAO we will have for these purposes). Second, governance of assets. As we are implementing a concept of Fractionalized NFT, all holders of fractions of specific NFT will be able to participate in governance of these assets (for example decide whom to license this asset to, or whether or not to sell the asset to someone). There will be multiple models for governance via DAOs or individual accounts.

Crypto Library Team : I want to know something about your partnerships.Have you connected with any partners or collaboraters now???If connected , can you introduce them to us?Do you have any plans for partnership in future $DEIP?

Alexey (DEIP) : Sure, we are working on partnerships as it is a crucial part for the development of any protocol. Furthermore, we believe that in Web3 space we should collaborate, not compete. From business side, we partner with multiple organizations in scientific space (Blockchain for Science and European Open Science Cloud, for example) who help us to pilot and validate our ideas in real environment in one of the most challenging industries producing intangible assets - scientific research. We also partner with software development companies, one of the brightest examples of which is Paralect (https://paralect.com) - a venture  studio who built unicorn companies for their customers. And we definitely working on partnerships in the Web3 space apart of those we already have (for example Reef Finance, who will help us to bring additional liquidity to intangible assets). We are also speaking with multiple largest players on the market. 

Crypto Library Team : What advantage do you think the your platform has over its competitors? Why should we choose you?

Alexey (DEIP) : Lets start with the idea that we completely believe in collaboration. Indeed, there are multiple protocols on the market who we directly or indirectly compete with. But at DEIP we have a very strong advantages -  we are building an application-specific protocol, tools and applications. We are not trying to cover all use-cases ourself and involve community in various industries to build portals helping us to grow ecosystem. And what is also important, DEIP is built by creators for creators.

Crypto Library Team : All projects are run towards the development of the community, because the key to the strong development of the community project. So do you have a Global Ambassador Program or Referral Prize System or your community bonus for new?

Alexey (DEIP) : Community is one of the most important things for any Web3 company. We believe that our community is the best, and there are a lot of talented people who can help us. We are open to any proposals to become an Ambassador of DEIP if you have access to your local communities in your city or region. We will ensure you get full support from our side. Stay tuned for the news, and we will definitely let you know how you can participate and help. Thank you

Crypto Library Team : 

Alexey (DEIP) : As I already mentioned we have a concept of Fractionalized NFT. It provides multiple benefits, and Liquidity is among them. Let's go through all of them one by one:
  • Liquidity
Asset owners achieve better exit liquidity  than in case they own NFT themself. This is achieved through on-chain exchanges and liquidity protocols.
  • Price discovery
Every time a fraction of an NFT is sold, it effectively sets the actual price of the whole asset.
  • Governance
Distributing control over the NFT between a number of stakeholders enables various governance models. So, as you can see there are solutions to boost the liquidity of NFT.

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