Welcome everyone. Here I prepared Community AMA #4 recap from 2023.05.17 for everyone who missed that call. Enjoy reading.
Sean- Marketing
Ximena- Marketing
Anderson- CTO
Ximena | Diamond Protocol: We passed our AMAs with Evie, Sean, me (Ximena), so we wanted you little by little know more bout our team. Today we want to introduce you our tech & product guy - Andreson. He’s also one of the founders of the ETHTaipei event.
Anderson | Diamond Protocol: Hello everyone, I’ve been working in crypto space for more than 8-9 years. I studied my master degree in National Taiwan University, I’m the Founder & CEO of the Dapp Pocket (crypto wallet). Now I’m working on Diamond Protocol as CTO (chief technology officer).
Ximena | Diamond Protocol: Before we start tech discussion, I want to remind u about our latest campaigns that we have:
First of all is our trading competition, that will be over very soon
Also, after our today’s AMA you will be able to claim special OAT
Trading Competition Top Contenders (for members who have Unibot trader role)
We extended the time for Unibot ARB campaign
We would like to hear some feedbacks about our referral feature later, that we added couple of weeks ago. You guys, can share with us if it’s working fine, if the percentage of the fees you received is correct.
Anderson | Diamond Protocol: So yeah, with referral feature, everyone is able to create refer code on our website. Everyone can use it, and after every transaction it send some commission % to referee. You will be also able to check the total funding you bring to our product.
Sean | Diamond Protocol: By the way, If you guys have some extra question about this feature, you can head to our FAQ channel on the Discord and check it out in full details. Our referral program can help you to earn stable fees every week, and the person you refer to can also enjoy some discount on the Unibot (discount Rate is 15% and rebate rate is 15%). Win-win.
Ximena | Diamond Protocol: Anderson, question to you. Can you share with us about the things that will come up in the future on Unibot?
Anderson | Diamond Protocol: The biggest thing right now will be integrations with other protocols - Decentralized Exchanges. Currently we are working with Uniswap. So technically we can also use Unibot with our DEXs, the exchanges that have the same interface like Uniswap.
There’re few that we are working on right now. One of them with the similar interface is PancakeSwap on BSC.
Sean | Diamond Protocol: Question from the audience: Why did we create the Diamond? Anderson did you reveal why did we create Diamond on the first place. How it came to be, thought process.
Anderson | Diamond Protocol: We created Diamond 1 year ago. At that time we looking for DeFi product to provide stable Yield/Vault. That’s why we started to work on that product. We had some experiments by assembling the Vault. Then we also build another one Vault with different strategies with Perp Protocol.
After we realized that the Vault with the strategies we build doesn’t work, because market’s changing very fast. And then we started to consider about more sustainable product, like Uniswap V3. And it’s working for different types of strategy. After that came Unibot Factory, where u are using one type of the asset to work with. By using one type of the asset, user able to borrow another type from the pool and open position with 2 types of the asset. And starting to provide liquidity.
Ximena | Diamond Protocol: We also have a question about liquidation. Where does the liquidation engine get the price feeds from? On-Chain or Off-Chain?
Anderson | Diamond Protocol: So process is coming from the Uniswap oracle. We are monitoring the statement of the positions and we are off-chain keepers, means EOA - Externally Owned Account.
Question from achh357a#7067 : Will there be scenarios where any forms of integration between the off-chains system and smart contract execution is gonna running the scenario where triggering of the liquidation of the position. I’ve seen kinda scenarios where the smart contract suppose to be executed by specific address and the its causes do not be liquidated of the correct price or even didn’t liquidate at all. So any possibility if this can happen?
Anderson | Diamond Protocol: There’s EOA address that we use to figure smart contract to trigger liquidate or stop loss. So when we call like liquidate and it’s true, then the keeper will ask the liquidator to pay the gas fees. Answer is yes.
Sometimes it can be more issues on the address, so we need to make sure if it can perform correctly or not. Right now there’s an address in a call list and perform stop loss for liquidation. We will open it in the future, so everyone can delay the liquidate using the stop loss and it’ll help to make the system more secure.
Question from achh357a#7067 : During the early days of using Unibot, I ended up the scenario where my position wasn’t liquidated at the correct price. I recall that some of the off-chain systems depend on messages queues I believe you are running them on cloud services. Is that smth that still remains in the architecture and have you guys scaled up the overall cloud infrastructure to ensure that some of these scenarios or whether it’s on the message queue side, whether on the execution side and call back into rpcs of the blockchain itself don’t happen. Would be good to know how will u solve the problem by scaling it up, prove it or etc.
Anderson | Diamond Protocol: Yes, we are using the message queue. At the beginning we were using one service one queue. Now we are using the system that more scalable, and now we are able to handle more liquidations/stop losses. When the amount of the opened positions gonna increase, then we gonna keep on scaling our system to handle with it.
Question from achh357a#7067 : Have you guys reached a circle benchmarking to test on how many users can you accommodate at various prices from a performance perceptive?
Anderson | Diamond Protocol: We are doing kinda benchmarking and some calculation of course. Yeah.
Question from Night47#7908: Any plans on TGE on Q2 or Q3?
Anderson | Diamond Protocol: We will definitely have TGE, but we don’t have very clear time right now.
Sean | Diamond Protocol: Two AMAs ago Evie said that we’ll have TGE for sure, but timeline wasn’t fully decided yet. We still have many things to handle.
Question from Rekt5236#5962: Any possibility of expanding to ZkSync Era
Anderson | Diamond Protocol: The answer will be definitely YES. We know that Uniswap has proposal for implementing zkSync, so yeah.
Question from the user: How do you ensure the security and robustness of the DMO.finance platform against potential threats such as hacking attempts or protocol vulnerabilities?
Anderson | Diamond Protocol: So first of all. It’s kinda complicated question. Because there’s no platform that can guarantee 100% safe, but from our side we can do our BEST to ensure this won’t happen. Staff on the development stage where we follow the best patterns and we do many reviews, writing what kinda of chases can happen, doing many statements announce for our code etc. On easy language we are testing and checking our code. There’re many things that we actually do to secure the smart contract.
Question from 0xBoru#0279: Any more thinking around the Unibot university, teaching and stuff?
Sean | Diamond Protocol: Actually, if you redirect to dmo.finance you will find whole user demo. It’s actually my brainchild. We always trying to improve user experience of using our product. We have plenty of articles/videos etc.
We are also in a process to add/implement some tradingview tools to the chart/timeframes.
For our traders who has some difficulties or doesn’t fully understand on how to trade, we have DEMO version of Unibot. You can try and test it out with test USDC.
Question from 0xBoru#0279: When will beta finish up?
Sean | Diamond Protocol: Hm, It’s actually not my decision. It’s Up to our CEO. But will be definitely sometime this year.
Question from 0xBoru#0279: Do you run any metrics on how many traders are bullish/bearish etc. be a cool sentiment indicator for the dashboard.
Sean | Diamond Protocol: It’s actually good idea. We can put it out there. We actually have this dashboard. But for now it’s like data to check. But need to discuss with the team together. But anyway will be good feature. Maybe we can try to release for our VIPs first, but we’ll clear it up.
Question from 0xBoru#0279: Imagine as Unibot traders we could create our own trading bots as such, and user could provide LP to those bots.
Sean | Diamond Protocol: Oh, that was an original conception of our product, like everyone can create own vaults, launch strategy and marketize LP. When the users who were liquidated they can check who created that Vault and liquidate those vault who aren’t performing good, would be great Diamond ecosystem. So this is definitely smth that under consideration.
UniBot is the first Leveraged Liquidity Provision (LLP) Platform for Uniswap V3, where users can create positions to provide liquidity in Uniswap V3 with leverage, hedging, and automation on Layer 2 blockchain. It is the latest product launched by Diamond, a DeFi protocol specializing in building on-chain structured products.
💎 Website: dmo.finance
🐦 Twitter: twitter.com/diamondprotocol
🗃 Crew3: crew3.xyz/diamondprotocol
👾 Discord: https://discord.gg/diamond
✍ Blog: medium.com/@diamondprotocol
🔮 Galxe: galxe.com/diamondprotocol
AMA Recap made by Diamond Protocol’s Head Mod - 一川drive#4181
AMA Record 👉 Community AMA #4 - Deep Dive