Gate.io x Phuture — AMA Recap from 9th of July
Gate.io — Mariela Tanchez, business development manager
Phuture — Oliver Mehr, head of product
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Mariela Tanchez:
So to learn more about Phuture we have Oliver their head of product! Welcome Oliver!
Oliver Mehr — Phuture:
Hello glad to be here, you have Oliver today from Phuture. I will be running point! thank you for having me.
Mariela Tanchez:
Thanks for being here!
So first let’s get to know you a bit. Tell us about how you entered the crypto space and how your background contributed to your early successes.
Oliver Mehr — Phuture:
I started investing into crypto in 2016. I worked for a family office fund investing into liquid tokens. We really caught the beginning of the ICO boom and invested into a lot of great projects such as Quantstamp, Havven (now SNX) and Bluzelle.
From there we were approached by Block.one to join the EOSVC program.
I worked at the venture fund as an investment analyst deploying capital into early stage blockchain enabled companies.
After that fund was fully deployed we started Phuture, a decentralised platform for the creation and investment of passive index strategies.
A lot of the learnings that have been garnered from working with these early stage companies have been implemented in Phuture. The companies I worked with at SVK Crypto had a traditional user base and so it was important to abstract the complexities of blockchain away from the end user.
Phuture inherits this design philosophy.
Mariela Tanchez:
What is your project exactly and can you tell us more about your vision?
Oliver Mehr — Phuture:
Phuture is a decentralised platform for the creation and investment of passive index strategies. We allow our users to create indices in a permission-less manner. Through our index creator tool users can build their own custom indices
Once they create and mint the index, its completely set and forget. The user doesnt need to do anything else.
Rebalancing and reweighting is done by the protocol
Once an index has been created, other users can invest into it.
We believe we have created the most advanced index creator tool in the web3 indexing sector. Users can choose specific sectors to invest into, they can choose a weighting methodology including fixed or dynamic weighting such as marketcap weights.
In addition, users can choose to track a top ranking of assets in a sector.
So imagine, you are brand new to cryypto. How do you know which assets to invest into?
Do you have the time to do the research?
With Phuture, you can an index that programmatically follows the top 3 assets in defi. Therefore, without any special knowledge your investment will grow as the defi market grows.
Simple, diversified exposure.
Mariela Tanchez:
That is definitely very exciting and seems pretty simple…. which is great!
So how about your business model…Can you tell us more about your business model
Oliver Mehr — Phuture:
Phuture generates revenue through fees taken on the platform
Fees are taken in 4 ways:
- Minting
- Yield
- AUM
- Redemption
The only fee that may not be self explanatory is the yield fee. Since we push assets from our vault to yearn, to optimise yield, we take a fee from the profits generated here.
All fees are used to buy back PHTR
15% of PHTR bought back is burnt
85% is redistributed to ongoing initiatives such as liquidity mining and rewards for ePHTR holders.
Solvers execute core platform functions must bond PHTR to the platform in order to be whitelisted to execute these functions. That is our business model in its simplest form
Mariela Tanchez:
Seems like very well structured, specially to avoid inflation.
And it also seems like there has been a lot of work on your end… What are some of the major milestones you guys have hit so far and why are they important?
Oliver Mehr — Phuture:
- Raised 2.6mm in seed funding from prominent investors in crypto
- Raised 250k on Polkastarter IDO platform in 120 seconds.
- Had over 60mm staked on Gate’s IEO platform
- Launched our PHTR token
- Launched ePHTR — our yield bearing variant of PHTR that allows users to vote.
- Launched PHTR staking
- Have over 25% of total supply staked.
These milestones lay the foundations for the Phuture protocol. Ensuring we have enough capital to complete our ongoing roadmap.
Mariela Tanchez:
Congratulations…pretty good achievements there.
And speaking of your roadmap…..Where are you heading in the next few years and what are the next major updates for you ?
Oliver Mehr — Phuture:
Here is what is coming up in our roadmap!
- Testnet launch event
- Public testnet release in the next two weeks
- Contract audit end of AUG
- Mainnet live SEPT
New Features:
- FIAT to crypto and Crypto to fiat
- on ramps/ off ramps
- new dynamic datasets
- meta governance for index holders
- gas minimised index investing
- parallel instances of Phuture deployed on multiple chains
- L2 deployment
- cross chain indices and a lot more!
Mariela Tanchez:
This seems pretty exciting!!! Guys definitely stay pending on this!
So now we will open the floor for questions of our audience!
Question 1:
While you build your project, do you take into account community feedbacks and demands?While you build your project, do you take into account community feedbacks and demands?
Oliver Mehr — Phuture:
Absolutely, community feedback is so important to us. On the 12th we will be announcing a paid contributors program that allows community members to submit what they have done for the community and we will reward the best submissions.
Question 2:
Your project plans to operate in a public and transparent way, which is good, but how involved will the community be within the project to make the best decisions and thus strengthen the ecosystem…..?
Oliver Mehr — Phuture:
Very involved! We have launched our forum page to provide a singular location for community discussion.
We have a snapshot voting page for gasless voting. Phuture Labs and the community will work in harmony to realise Phuture’s max potential.
Question 3:
Every project innovators are always on the edge of giving the positive and good features of their project, but can you kindly give few killer features of your project to investors?
Oliver Mehr — Phuture:
- Permissionless index creation
- Scalable architecture for managing and rebalancing indices
- Simultaneous rebalancing of multiple indices in one transaction
- Improved index returns via our smart rebalancing logic which includes rebalancing bands and rebalancing surfaces.
Check out docs.phuture.finance to learn more.
Question 4:
Partnerships are essential for every project today, My question is which partnerships you have now? and which partnerships in the Future you will be Heading to ? Please share with us
Oliver Mehr — Phuture:
Phuture deeply integrates with a number of defi applications including:
- chainlink
- keep3r network
- 0x protocol
- Yearn
We are not interested in promoting fake partnerships. But you can expect to see more news about the protocols we are partnering with in the not to distant future.
Question 4:
Are you working to AUDIT YOUR PROJECT to make it more secure and reliable?
Oliver Mehr — Phuture:
Absolutely, our project is being audited by Quantstamp, the best of the best when it comes to smart contract security. They also happen to be an investor too!
