AMA Recap Crypto Library with Shuttle One

                                          

On 26th November 2021, ShuttleOne conducted an AMA in the Crypto Library Community. Our guest is MinhTam Nguyen. Lots of questions as usual from the Community about ShuttleOne progress. The ShuttleOne 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 ShuttleOne.

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?

MinhTam (ShuttleOne) : I’m MinhTam – ShuttleOne Marketing Director and I’m excited to share with everyone about us. ShuttleOne attracts me to join as a member, because of their vigorous way in innovations and bringing blockchain to mass adoption. I started in crypto in 2018, back when ETH was 80$. But it never got serious into it until 2020 and so on after hosting several blockchain startups through my podcast! I would say i'm pretty good at explain complex stuffs in blockchain in a simpler manner. So ask away anything you would like to know!
FIRST SEGMENT (HOST)
Crypto Library Team : What is ShuttleOne? and why does ShuttleOne choose to build it's platform on 3 Networks?

MinhTam (ShuttleOne) : ShuttleOne is a blockchain company that work vigorously to bring blockchain and DeFi to real-world adoption, specially we build the infrastructure so that any unicorn or platform startup can build their native fintech arm with Decentralized Finance. Think of how Google or Samsung building their financial products like GooglePay or SamsungPay, but now companies can build their financial products with ease and global liquidity from crypto. We work closely with government-linked institutions, traditional banks or even fintech companies who are looking to build and tap in blockchain innovations. Our Plug N Play DeFi products are integrable to these multi- millions ecosystems in B2B, B2C or B2G and service to real-world users who do not need to understand blockchain to use it. From our experiences working with real-world industries who want to adopt blockchain, we come to realize that not many companies have the resources to build on blockchain due to its complexity and scarce talents. ShuttleOne is now on its way to develop a non-code, metaverse of blockchain networks that allow any blockchain projects to build on multiple blockchain networks at the same time. This is product is Metachain. Plug N Play DeFi will be the first application built as a multi-chain product, but we hope to see Metachain evolve into an App store for multichain. Here's a quick photo of what we have done so far. 

Crypto Library Team : What services and features are/would be available on ShuttleOne?

MinhTam (ShuttleOne) : Simply put: The infrastructure you need to build on blockchain. This mean:
  • The gateway to bring users in blockchain (simple UI, crypto wallet)
  • The infrastructure and connectivity to public blockchain (we have 3 so far)
  • The compliance
As operating system for finance, we offer the infrastructure for any businesses to build on crypto networks seamlessly and easily. Metachain is a non-code, single API aggregators that unlock these 3 elements and allows Dapps and Web 3 to build on Tezos, Binance Smart Chain and Ethereum at the same time. Metachain remove the hassle and complexity whenever developers need to build on a new chain. Instead, the aggregator will help applications choose the best performance network at time of transaction. You won’t need to choose blockchain network that you would like to use anymore, instead, the aggregator will help you select based on security, cost, speed and decentralization. This open a universe of multichain products that can be used across chains, from multi-chain tokens, multi-chain wallets to multi-chain bridge. Here is a good summary of Metachain utilities:

Whenever crypto projects decide to build on a blockchain network, demand, adoption rate or performance are criterias they need to consider. Why not remove these network-related factors out of your product adoption, remove friction and capture the usage demand on all networks. That’s Metachain.

Crypto Library Team : Please tell us about $SZO token! What are the token use-case, distribution, and how to buy/get it?

MinhTam (ShuttleOne) : $SZO – ShuttleOne will be used as the universal network currency in the Metachain. I don’t know about you guys, but I treat my purchase on network tokens as investment assets. And it hurts me a little bit to see my investment get used to conduct other transactions. Through Metachain, you will only need to spend $SZO as network fee. Any purchase for $ETH, $BNB or $XTZ are kept and hold their value as investment. $SZO will be mint whenever there is real-world transactions through Plug N Play DeFi which are being used by real-world businesses. Because of this, the circulation supply is only at 8%. $SZO will be burnt when users using our Plug N Play DeFi products. This mean every transactions happen on Metachain, SZO will be burnt. With the listing on Tezos network coming, $SZO will be the first multichain token where liquidity flow between one network to another. If you are familiar with exchange arbitrage, where token price is different on exchanges due to its liquidity Then $SZO liquidity will move on a network scale, and theoretically will have different price impact on different network! We have built a decentralized, multi-chain bridge that will allow you to send SZO across networks with ease. There are no duplicate tokens between networks, when you move token from one network to another, the original token is held in smart contract, and only you have access to it. Here is a sneak peak of Metachain bridge.

This is the first multichain bridge between these 3 networks, and we will bring more tokens on this in the coming months. At the moment, you can get $SZO through BSC exchange such as Dodo and Pancakeswap. On ERC network, Uniswap listing is coming next week. On Tezos, $SZO will IDO in mid December. If you prefer farm/ earn $SZO over buying it, you can do that by contribute stablecoins to our liquidity pools at: https://shuttleone.network/2020/mainnet/home2.html. This is the liquidity pool use to power Plug N Play DeFi transactions,

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

MinhTam (ShuttleOne) : In november, ShuttleOne won the ASEAN Fintech Award 2021 by Central Bank of Singapore. This is the biggest award for the region. We won as the only crypto company against the biggest name in the industry. This is due to our Plug N Play Defi product that has served over 4000 businesses across the region, especially during Covid. you can read more about it here: 
With Metachain as a multichain aggregator, a universe of multi-chain products will be born. As users, you will gain access to these multichain products through our Smart Metachain Wallet, Metachain Bridge and even Fiat-crypto swap to your bank account. $SZO token during our first IDO listing on Dodo exchange attract over $40 millions in value. But biggest and foremost, we are proud to serve thousands of SMEs businesses during Covid time, where border less money transactions is critical to support themselves during restrictions. For the future, we are looking to build Metachain accessability to all applications out there. We will become the app store for multichain products. Stay tuned for the release of the detailed roadmap next month!
SECOND SEGMENT (TWITTER)
Crypto Library Team : As the only crypto company to have won the 2021 ASEAN Fintech Award, can you tell me what factors made ShuttleOne win this award? is there a big role for society in this? and what do you think the role of the community is in your opinion?

MinhTam (ShuttleOne) : Let me quote a part from our announcement:

"During the pandemic where medical supplies are critical products, ShuttleOne helped businesses secure critical orders and cross-border payments withins hours, using fiat-crypto infrastructure. With 72 hours of credit and loans from ShuttleOne, SMEs are relieved from cashflow burden and increased their inventory for the rising demand of online shopping."

"During the pandemic, tech-driven companies such as Happy Fresh and Global eTrade Services, have implemented ShuttleOne to empower their ecosystems of delivery drivers or SMEs to earn more, and find better opportunities."

"Through our partners, ShuttleOne has serviced over 4,000 merchants and 10,000 drivers across ASEAN to survive and thrive through the pandemic."

"The pandemic accelerated digital transformation in every industry, where businesses needed to become more resilient, adopt changes and new technologies faster. More businesses are looking into ways to transform their businesses into digital, resilience businesses, and ShuttleOne is here to help."

Of course, these are couldn't been done without the help of our Shuttlenauts community and liquidity providers. In return, we offer a stable earning assets for those would like to manage their capital during bull and bear market. In the coming months, $SZO staking solution will come, as well as ambassador program to incentivize our long-term support community.

Crypto Library Team : ShuttleOne has 3 very interesting features on its platform, namely: Visage Protocol, ShuttleOne Network and ShuttleOne Analytics. What are Visage Protocol, ShuttleOne Network, and ShuttleOne Analytics? How do they work? Benefit?

MinhTam (ShuttleOne) : Visage Protocol, ShuttleOne Network and Analytics are all part of Plug N Play DeFi. These are AI and Blockchain enable products, that allow any ecosystems to plug them into their existing system and benefit from it. here's a photo that describe their utilities:
When a business apply for loan with ShuttleOne
1. They will upload their data and proof of assets through Visage Protocol (OCT Computer Vision tool)
2. S1 Analytics will measure risk and provide a credit scoring
3. Once the loan is approve, ShuttleOne Network provide liquidity to the borrowers and return high APY for liquidity providers.
THIRD SEGMENT (LIVE QUESTIONS) 
Crypto Library Team : Shuttleone Generates a return on stablecoins by lending them to real-world companies. How does non-payment occur on the part of real world companies? In case of non-payment, how does Shuttleone protect its users?

MinhTam (ShuttleOne) : ShuttleOne offers loans to real-world businesses, where they use the money for their operation, to scale, to pay vendors, to trade etc. Most businesses loans we offer are trade financing loans, meaning we lend to companies that is in a cross-border trade deal. We could either lend to the buyers so they can buy more. Or we can lend to sellers to have resources to manufacture and complete their contract. Because of the nature of trade financing, where assets are being move between borders. We work with Port of Authority of Singapore - who operate 60 ports worldwide as our Collaterals Manager. Because of the nature of trade financing, where assets are being move between borders. We work with Port of Authority of Singapore - who operate 60 ports worldwide as our Collaterals Manager. When there is a default, PSA will act on our behalf to secure the assets and liquidate if needed. Beside real-world measurement, we also build credit scoring algorithm to predict the chance an entity couldn't repay their loan. So far, our default rate is below 1%, so the algorithm is doing a great job. We are also going to implement $SZO Staking as part of the insurance protocol to protect investors money. More to come in the coming roadmap!

Crypto Library Team : I understand that with the ShuttleWallet app we will soon be able to pay in shops, to carry out this we will have to pay a commission at the time of payment? This may vary according to the businesses with which you have alliances?

MinhTam (ShuttleOne) : Yes, ShuttleWallet is our multi-chain wallet that allows you to deposit and cash out to fiat in 80 countries. When you open ShuttleWallet, you will can store any token and crypto in ERC, BSC and Tezos. And even more when we develop more chain in Metachain. ShuttleWallet includes an utility called ShuttleSwap, where you can easily convert between fiat and crypto. To pay for businesses, we are thinking of 2 possible ways:
  1. You convert crypto out to the business's bank account
  2. Enable payment method via email/ phone number where you can easily pay to anyone that activate the wallet under our network
Just like our digital wallet works, where you can easily pay anyone that is using the same digital wallet:
  1. Is universal. you can pay to any business, no restriction
  2. Is depend on how we grow our network
Crypto Library Team :  About the meta Chain, so are the developer project just need to build on metachain first and all the rest metachain will do the networks things from them? are this will works like oracle?

MinhTam (ShuttleOne) : Yes, you get the gist of Metachain! Basically developers will connect through Metachain, and they are automatically connect to all the blockchain networks we will connect to. Right now, it's Ethereum, Binance Smart chain and Tezos. But we will plan to build on more networks (like Solana, Algorand, Avax). Fun fact, not all developers can build on multiple chains. Most apps stay within one network, because it is difficult to build on another one, with different code language. It takes time and skills to build on multi networks. Metachain will help you save those time, instead of worrying about which network to build on, you will able to build on all of them. Metachain will act as aggregator, where it helps to select the best performance network at time of transaction. Right now, there are multiple version of one product, for each network they build on. With Metachain, devs will able to consolidate their app within one interface. While still use multiple chains. Metachain will decide the network to go with, based on cost, speed, security and decentralization. We think Multichain products will be the future. Nowaday, apps have to decide and debate which network to build on. ERC is the biggest market but the most expensive. Other chain are less expensive, but not as big ecosystem. Why not remove all that, and capture all demand from all networks. On users stand point, you will also able to enjoy the best product, without worrying about which network to choose on your wallet. That's metachain. You can read more about Metachain from our website: 

Crypto Library Team : Where will be the IDO ? any private sale round?

MinhTam (ShuttleOne) : IDO on Tezos network will be on our partner Instaraise. The aiming date at the moment is 15th December. There are private sales. If you interested in private sales, join our TG and let us know.

Crypto Library Team : Shuttleone's Plug N Play DeFi has created an impact in the region, especially during Covid. During urgent cases in Asia, where countries need to buy Covid-related products to fight Covid. What is ShuttleOne Plug N Play DeFi? What has been the impact of Plug N Play DeFi on the Covid19 pandemic?

MinhTam (ShuttleOne) : Because this is exactly what we did: Help businesses and countries to secure covid 19 related products fast and efficient. Covid 19 medical products are time sensitive, you need to buy it fast to protect your community. But you also need to pay out money immediately to secure the contract. This is due to the fact that it was high demand products, that sellers require you to deposit money immediately. In Asia, cross border payments could take 5 days to 2 weeks to complete. If you need loans from bank, you need 2 weeks or more to get approval. Time is sensitive! And it is the perfect time for borderless, digital money to shine. Through Plug N Play DeFi, we helped businesses to access loans within 72 Hours, and same day disbursement to their oversea vendor. When you get a loans through Plug N Play DeFi, you can direct us to pay directly to China, Thailand or anywhere in 80 countries. This remove the banks, the paperwork and the complication of bank transfers (it is much difficult to move money cross border as an entity, than a retail users). Not only for Covid related products, we also helped many businesses that deal with time sensitive product in the same manner.

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