In a recent AMA event hosted by DigiFinex, the spotlight shone on Sakai Vault, a project poised to reshape the landscape of decentralized finance. With innovative features and a forward-looking approach, the Sakai Vault team shared insights into their platform's potential to revolutionize the world of crypto trading and investment. Join us in this recap as we delve into the dynamic discussion from the AMA, exploring how Sakai Vault is set to make its mark in the ever-evolving realm of decentralized finance.
DigiFinex: Can you provide an overview of The Vault project in Sakai and its primary objectives?
Sakai Vault: The Sakai Vault project entails a decentralized perpetual futures trading platform designed to facilitate the trading of perpetual futures contracts within a decentralized framework. Alongside this core functionality, the platform incorporates additional features such as a trading and staking mechanism, a functional graphical interface, a bridge function for cross-chain operations, and an upcoming advanced AI system. Notably, the Vault function enables users to invest and generate higher returns compared to traditional staking methods.
Furthermore, the platform incorporates AI-powered chatbot capabilities in its roadmap. To succinctly put it, Sakai Vault serves as a decentralized exchange that replicates the attributes of centralized exchanges while being entirely constructed within a decentralized ecosystem. By way of comparison, platforms like centralized exchange offer spot trading for exchanging tokens and futures trading for derivative-based profits.
Sakai Vault stands out as a decentralized exchange encompassing all the facets of a centralized counterpart. Notably, the platform operates without requiring users to undergo KYC procedures or share personal information such as email or name. Through the utilization of decentralized wallets like MetaMask or Trust Wallet, users can seamlessly connect to the platform, trade, and engage without compromising their privacy or divulging personal data.
In essence, Sakai Vault provides the full spectrum of centralized exchange features within a decentralized framework. This accommodates users interested in futures trading with leverage. The platform's perpetual futures trading function, scheduled to launch shortly, allows traders to utilize leverage of up to 25x, thereby enabling profit generation across diverse market assets.
For users inclined towards spot trading, involving the purchase of coins using other coins, the Spot trading function caters to such needs. Additionally, the platform offers a swap function to transition between different coins. Should users seek to establish connections between different blockchain networks, the functional bridge mechanism permits such interoperability. As an example, users can seamlessly bridge assets between Ethereum Mainnet and Binance Smart Chain.
Moreover, Sakai Vault addresses the interests of non-traders and investors who aim to earn profits from their assets. By participating in the Staking platform and staking the native Sakai token, individuals can garner profits. It's worth highlighting that our Staking platform distinguishes itself through unique features.
In summary, Sakai Vault represents a paradigm shift in the perception of exchanges. The overarching objective revolves around enticing a substantial user base into the realm of decentralization, thereby affording enhanced privacy, security, and autonomous control over their assets. The platform strives to offer comprehensive features within a decentralized framework to cater to these aspirations. This encapsulates the essence of Sakai Vault, and we now turn our focus to delve into the platform's upcoming key developments.
DigiFinex: How many trading pairs are currently supported?
Given that the fully operational app is not yet available, during the initial phase of launching the Future Trading Platform and the Spot Trading Platform, prominent coins or substantial assets with integrated liquidity will be prominently featured. For instance, when examining key pairs like Bitcoin to USDT or Ethereum to USDT, one can observe global trading engagement with abundant liquidity spanning a wide spectrum of price ranges, even down to minute fractional values such as three or four decimal points. The pervasive trading activity, akin to the non-stop nature of the cryptocurrency market, sustains this liquidity 24/7, 365 days a year.
In the initial phase of Sakai Vault's rollout, our emphasis will be on incorporating major currency pairs. This entails coin pairings like Bitcoin to USDT, Ethereum to USDT, and select pairs such as BNB to USDT or AVAX to USDT. This strategic approach aims to leverage the substantial liquidity generated from across the globe, thereby fostering heightened demand for our trading offerings. Subsequently, as our platform secures a foundation of liquidity, our focus will shift to introducing lesser-known or moderately established coin pairs. Examples could encompass pairings like CHR to USDT or CHP to Chili's, representing coins of this nature.
In summary, the preliminary stage of our endeavor will entail the listing of internationally recognized major coins like Bitcoin, Ethereum, AVAX, Mattek, and the like. This serves as a crucial step in capitalizing on widespread familiarity and liquidity. As our platform matures, we will progressively introduce a wider range of coin pairs, extending our offerings to encompass lesser-known assets, thereby enriching the diversity and depth of trading options available to users.
DigiFinex: What inspired the development of The Vault, and what specific challenges does it aim to address within the Sakai platform?
Our inspiration for creating a more advanced platform, such as Sakai Vault, stems from observing platforms like dYdX and GMX. While these existing platforms, such as dYdX and EMX, have a presence, they do not offer the comprehensive feature set synonymous with centralized exchanges. A case in point is the disparity observed in futures trading platforms on centralized exchanges compared to these decentralized counterparts. In this context, the multifaceted requirements of futures traders, including stop loss orders, buy and sell orders, and take profit orders, are not fully met by the available decentralized platforms. Additionally, more intricate features like ladder stop loss, trailing stop loss, ladder take profit, and smart stop sell limits, which are essential for professional traders, are noticeably absent from these decentralized options.
Drawing inspiration from platforms like dYdX and GMX, while acknowledging their significance, we aim to surpass their capabilities. Our intention is not to merely replicate what these platforms offer, as our aspirations transcend those boundaries. While platforms like dYdX and GMX predominantly focus on the perpetual trading aspect, we seek to differentiate ourselves by providing an array of features that include staking functions and functionalities akin to those of centralized exchanges. Our ultimate goal is to provide users with a holistic solution within the decentralized realm, addressing a range of needs.
The inspiration behind Sakai Vault emerges from a critical examination of the challenges faced by traders, particularly highlighted by recent events like the sudden collapse of FTX, which resulted in investors losing their savings overnight. One significant factor that contributed to such incidents was the notion that, when funds are deposited into centralized exchanges, they become part of the exchange's pool. Conversely, in the decentralized space, funds remain in users' personal wallets, affording them full control and autonomy without limitations or constraints.
Observing the trend of individuals migrating from centralized exchanges to decentralized platforms, driven by the desire for privacy and freedom from KYC procedures and transaction limits, we recognized an opportunity. Our response was to create a decentralized exchange that seamlessly integrates the comprehensive features of a centralized exchange. This includes catering to those who desire the functionalities of centralized exchanges without compromising on anonymity and financial sovereignty.
In summary, our mission is to revolutionize the space by providing a decentralized platform that addresses the shortcomings of existing decentralized exchanges and bridges the gap between centralized and decentralized offerings. This approach is geared towards solving the key challenge of providing centralized exchange-level features, privacy, and financial control within the decentralized landscape.
DigiFinex: Could you elaborate on the key features and functionalities that The Vault brings to Sakai users?
Certainly, in this section, I'll walk you through the key features of the Sakai Vault platform. Our initial functionalities encompass the Swap and Bridge functions. The Swap function allows users to seamlessly exchange one token for another by selecting the desired coins. We've introduced a convenient Smart Search feature, enabling users to input their desired swap directly. For instance, if someone wants to swap one BNB to USDT, they can simply type the instruction, and our Smart Search will automate the process, streamlining the experience. Notably, the Swap function offers two distinct options to assist users. One option maximizes token acquisition, albeit with a slightly higher fee, while the other minimizes fees but may result in fewer tokens acquired. These options are designed to enhance user flexibility and convenience.
Additionally, the Bridge function facilitates the transfer of tokens across different blockchain networks. Whether transitioning from Ethereum Mainnet to Binance Smart Chain or vice versa, users can effortlessly bridge their assets. Our future plans include expanding the Bridge function to cover other chains like Arbitrum.
Contrasting centralized exchanges, where deposits and withdrawals can occur seamlessly across multiple chains, we introduced the Bridge function to achieve the same convenience within the decentralized space. This approach is aimed at enabling users to engage with multiple chains and coins without the need for separate bridging processes.
Furthermore, the standout feature of our platform is the Staking function, which has seen remarkable success. Unlike traditional staking platforms that often provide rewards in the form of tokens, we offer rewards based on the USDT value of the reward. For instance, an investment of $1,000 with a 0.8% daily interest would result in a daily reward of $8. The unique aspect here is that our platform calculates the value of your reward in USDT terms, adjusting the token reward based on the current value of Sakai token. This ensures that the value remains consistent regardless of token price fluctuations. This groundbreaking technology fosters a balanced and stable reward system, alleviating concerns about volatility. In essence, the Staking function provides a risk-free and hassle-free approach, setting us apart from traditional staking platforms.
Moving ahead, we have ambitious plans for the platform's expansion. In Q4 of 2024, we intend to launch our Future Trading Platform, enhancing trading opportunities for users. Additionally, in Q3 of the same year, we're set to unveil an AI-powered chatbot that aids users with their queries. Moreover, we're developing an AI tool capable of predicting market trends by analyzing data from various centralized exchanges and order books. This tool will offer valuable insights into market activities, helping users make informed decisions.
Looking further into the future, we're introducing the Vault concept, where users can invest as little as $10 to participate. The Vault concept features random prize selections, with the top winner receiving 30% of the pool, and additional rewards allocated to other participants. As the platform evolves, we'll continue to introduce new features and enhancements to meet user needs.
So, these are the primary functions that define the Sakai Vault platform, providing users with a comprehensive and user-friendly experience. We remain dedicated to advancing and expanding our offerings to provide even more value to our community.
DigiFinex: How does The Vault enhance collaboration and content management for educators and learners using the Sakai platform?
Absolutely, I believe our platform presents a learning curve for users. To simplify this process, we acknowledge that while you can find a comprehensive overview of the Sakai Vault platform's functions and features at https://docs.sakaivault.io/, sometimes videos offer clearer explanations. To address basic concepts like purchasing Sakai tokens or engaging in staking, we have created YouTube videos that walk you through these processes and how our application operates. However, I do recognize that for newcomers who are exploring the world of DeFi (Decentralized Finance) and related topics on our platform, there might be some initial complexity to navigate.
To bridge this gap, Sakai Vault is preparing to introduce the Sakai Vault Academy, a dedicated learning platform. Here, users can start from scratch, learning the fundamentals of DeFi, decentralized finance, the ins and outs of staking, the significance of Occival, how to leverage survival features, the principles of futures trading, and even practical aspects like utilizing stop-limit orders. Our educational platform aims to comprehensively cover these concepts, offering a solid foundation for users.
Admittedly, we understand that video resources catering to beginners might be lacking at the moment. However, rest assured that our documentation provides step-by-step guidance on our website, outlining how to use our features and navigate through the platform effectively. We are committed to ensuring that users, regardless of their familiarity with DeFi, can confidently and successfully engage with Sakai Vault.
DigiFinex: What sets The Vault apart from other similar tools or features available in the educational technology landscape?
What sets us apart are the distinctive features we offer. While some might argue that many decentralized platforms provide staking, bridge, or swap functionalities, our uniqueness lies in the meticulous attention to detail we've infused into these functions. Allow me to elaborate.
Take the swap function, for instance. Our introduction of the smart search feature adds a layer of convenience. Rather than the conventional method, where one would manually select tokens for swapping, our smart search enables users to type in their desired swap, press enter, and execute the swap effortlessly. This seemingly small enhancement significantly improves user interaction and ease of use, catering even to those who prefer keyboard over mouse navigation.
Another example is our staking function. Unlike most platforms that offer stable points like USDT or other stablecoins for staking, we've extended this stability to staking volatile tokens like Sakai. When staking Sakai tokens, users receive a consistent income, unaffected by price fluctuations. For instance, staking $1,000 in Sakai Vault yields $8 daily, regardless of token price variations. This offers a sense of reliability that's truly unique in the market.
Our forthcoming futures trading platform will distinguish itself through advanced features, outshining platforms like dYdX and GMX. Moreover, our market prediction AI stands as an innovative offering not seen in other decentralized exchanges. While platforms like Pioneer employ grid trading bots, our AI provides precise insights into market dynamics, enhancing user decision-making capabilities.
In the realm of staking, we're introducing a random yet rewarding Wallet function, offering users a unique income stream. By marrying randomness with opportunity, we create a distinctive space for investors.
By amalgamating these distinctive features, we position ourselves as a vibrant and unparalleled exchange in contrast to platforms that merely echo traditional offerings. While others claim feature-centricity, our commitment to innovation shines through, catering to the evolving preferences of users. I hope this clarifies our unique standing in the space.
DigiFinex: Looking ahead, what are the future plans and potential developments for The Vault, and how do you envision it evolving in the Sakai ecosystem?
We have exciting future plans on the horizon, and I'll break them down step by step for you. Firstly, let's start with our upcoming Vault feature, which is not just a name, but a genuinely unique offering. Users will be able to invest in the Vault and winners will be chosen through a randomized algorithm, determining varying payouts. You can explore this further by visiting the platform and examining the illustrative diagram that explains its workings.
Moving on, we're thrilled to announce the successful launch of our application, with an even more enhanced UI version set to arrive on the Apple App Store shortly. Additionally, our chatbot, designed specifically for Sakai Vault, will be rolled out soon. Unlike typical chatbots, this AI is optimized for assisting with various platform-related queries, providing efficient guidance on topics like long and short trades, stop-loss orders, and more. If the AI isn't able to assist, only then will human resources be utilized. Studies indicate that the AI can answer around 70% of daily queries, which reduces the demand for human assistance by a significant margin, freeing up resources for more impactful endeavors.
Now, onto the eagerly awaited Farming feature. Similar to PancakeSwap's liquidity pools, we're introducing yield farming protocols within Sakai Vault. This innovative farming concept enables users to diversify their portfolios by investing in multiple yield farming options, fostering exposure and potential profit optimization. Moreover, participating in yield farming grants users voting rights in these platforms, enhancing community engagement and opportunities for profit or loss balancing.
As we proceed, a major development is the forthcoming Leverage Trading feature, anticipated to be launched by Q2 of 2024. This functionality will enable users to leverage their positions up to 25 times, offering potential for increased profits or losses. However, it's essential to remember that trading with leverage carries inherent risks.
To mitigate these risks, we're introducing our Market Prediction AI, a crucial update that enhances your market insights. This AI provides detailed real-time market information, helping users make informed decisions by analyzing intricate market data.
Lastly, the most thrilling announcement is the imminent launch of Sakai Vault's private blockchain, expected by the end of Q3 2024. This blockchain is designed to prioritize scalability, privacy, safety, and security for developers and users. By focusing on Sakai's native token and leveraging its power, the blockchain aims to offer quicker, safer, and more secure transactions compared to other existing blockchains.
These upcoming updates showcase our dedication to innovation and enhancing the user experience across various facets of the Sakai Vault platform.
DigiFinex: What’s the defamatory mechanism that you intend to use to control the price inflation rate with time, most especially during this beer market. That most crypto investors are quite skeptical to invest into projects because of the fear of the beer markets.
So the first thing is that our token, our native token sakai is even when we started the private sales section, back then, we had private investors. We still have private investors and fundraising partners who back our tokens up. These are people who I don't want to brag about, but these are the people who will back up survival privately and securely without any public fundraising. After that, we did our presale where public fundraising was then normalized, where people could invest and raise funds for our project. We could raise funds for our project. So after that, we have our listing on decentralized exchange. We still run a successful project and.
The one thing that I would like to say is that instead of holding our token, when you stake on our platform, it's much more stable and secure and much less volatile. You get the same amount of profits every single day. The next thing is that our platform itself, even from the SSL certificate that we have to the private servers that our websites are hosted on, ensures security and enhanced safety for our users. There won't be any kind of exposure in our safety or people exploiting our system, nothing like that. Our wallets that hold these funds are secured offline within our owners safety and they are completely safe and secure from any kind of exposure to the next thing. Is that our token?
I know that it's a bear market, there aren't too many funds entering the market, but still at this time we hold our own floor and at the end it's the investors who decide. But we are having constant marketing activities, including a centralized exchange listing every two months to ensure that we have enough investors to back our funds up, to back our tokens up. So I know that prevention is better than cure. So we are trying to prevent such an activity by doing these marketing tactics that can help our further growth in our token. And I think that's much better than actually letting the token be volatile than curing that from the root.
So these are the features that I would like to explain to you guys on why our token is much better compared to the volatility of different tokens out there that are dying out. So we have marketing activities that are happening both offline and online, including social media marketing, email marketing, SMS marketing, something like that in the one end. And then we have banner ad marketing, we have Flex Board, these large printboard marketings, billboard marketing is coming. Then we have offline fundraising, offline investing, and we have cryptocurrency meetings out there happening. We have private investors who have meetings out there. So with all these, I can assure you that we have a steady marketing plan that can ensure the growth and safety of our token over the long term.
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