BTSE AMA Highlights: A Conversation with 0x_nodes on September 16, 2021
On September 16, 2021, the BTSE Telegram Community invited 0x_nodes Founder Owl for an AMA.
0x_Nodes is a modularized cross-chain yield aggregation protocol. 0x_nodes is a cross-chain protocol that allows synthetic asset movements between blockchains — enabling broader yield aggregation strategies.
As a pre-Stage 1 release, the engineering team has released a BIOS Emitter which enables these holders to deposit their Xiotri v.1 assets and receive BIOS so they’re able to fully participate in the new 0x_nodes protocol which will be released soon.
Here are the consolidated and edited highlights of the AMA.
• • •
Introduction
BTSE Moderator:
Hello and welcome everyone to another one of our AMAs at BTSE! Our guest today is Owl from 0x_nodes. Would you mind introducing yourself and your team?
Owl:
I’m Owl, a humble servant to 0x_nodes, and I’ve been working on this since Q1 of this year.
Our core team comprises an operations officer, a marketing officer, a product officer, and most recently, an engineering officer. We have each section broken off into multiple subsets of teams for optimization.
• • •
Overview of 0x_nodes
BTSE Moderator:
Now let’s talk about 0x_nodes. Can you introduce what your project does?
Owl:
We’re an interoperable yield aggregation system. We have built interconnects between EVMs and allow remote yield aggregation to be brought back to local networks.
BTSE Moderator:
What is the main problem that the core team is targeting to solve?
Owl:
We want to simplify the ‘yield farming’ experience and the overall organization of crypto assets for the end-user to ensure maximum productivity of assets with opportunities that match their risk appetite.
• • •
0x_nodes’ Solutions
BTSE Moderator:
So, how is the team going about solving the problem?
Owl:
We’ve spent a lot of time going through the design of the flow assets in DeFi and attempted at all costs to remove the onus being on the end-user for heavy transaction lifting. In addition to that, we’ve got a really good mapping of how we want to structure the liquidity between chains to increase the flow of assets.
• • •
0x_nodes’ Partners & Investors
BTSE Moderator:
Do you have a public list of investors and partners that are supporting you with this vision?
Owl:
We published some of our more notable investors — Skyvision Cap, Techemy Cap, Magnus; and John Lilic, JJ Pootz, Dustin Byington, and Karbonbased make up our advisory council.
• • •
0x_nodes Deep Dive
BTSE Moderator:
Since 0x_nodes is a cross-chain yield aggregator, what chains will 0x_nodes be deployed on?
Owl:
Our protocol is designed with the interconnects to be deployed in rapid succession. We’re looking at all the EVMs because so little code needs to get changed in between deployments, specifically Polygon, FTM, AVAX, HECO, OKexchain, KCS, and BSC, and we’ve begun talking with non-EVM chains for interconnects
BTSE Moderator:
What are some examples of yield protocols that will be aggregated into 0x_nodes?
Owl:
On ETH, we’ve built integrations with AAVE, YEARN, SUSHI, and UNIv2/3. As we deploy the kernels to the rest of the chains, we’re looking at the largest volume DEX with the most opportunity, but to the open-source design of the system, we should be able to assimilate with any protocol on local networks that a kernel is deployed (Poly, BSC, FTM, etc.). Building into our protocol should be a joyful experience, not a tedious task.
• • •
How Users Can Use 0x_nodes
BTSE Moderator:
In simple steps, can you explain how a regular user can make use of 0x_nodes?
Owl:
The platform will be intuitive to use. We take a lot of the heavy transactions on ourselves, as a platform, to make it as simple as “one deposit, one button.” For example, we redesigned the system to accept deposits into a fractional reserve, where the platform is actually doing the transactions from the reserves to the protocols. So instead of you spending money to deploy your assets to multiple protocols (that you want to deploy assets or funds), the system will pay for those transactions for asset deployment.
BTSE Moderator:
Is the 0x_nodes product already live? And if so, how much TVL is on the platform already?
Owl:
We have three different stakepads running right now while we fine-tune the platform. Combined between them, we have anywhere between $15 and $20 million in TVL.
• • •
$BIOS Overview
BTSE Moderator:
Tell us more about your token, $BIOS. What does it do?
Owl:
$BIOS is used as liquidity for the protocol, but the most interesting thing is the PFA (protocol fee accrual) system. When $BIOS is inserted into a 0x_nodes kernel, it results in a shared yield distribution from the harvesting operations in the form of native settlement layer assets (ETH, MATIC, FTM).
BTSE Moderator:
What are the benefits of holding $BIOS tokens?
Owl:
Right now, you can earn passively from utilizing the $BIOS token in the stakepads (0xnodes.io or $SUSHI onsen 2x pools) — but holding $BIOS in your wallet is unproductive.
BTSE Moderator:
Will users be able to farm? How does that work?
Owl:
There’s a farming mechanism built into the local networks’ kernel deployment — stablecoins, liquidity mining, and a plethora of other options depending on which network you’re using. We’re constantly researching the best yields that we can assimilate into our protocol.
• • •
What Sets 0x_nodes Apart?
BTSE Moderator:
There are quite a few cross-chain yield aggregators out there; how is 0x_nodes placed amongst them?
Owl:
We’re not worried about competition right now, as we see this as a growth market rather than a winner takes all market. Because the design is such that we can easily incorporate external protocols into our local systems, we welcome the exploration of the best yields by other protocols so that we all may reap the rewards.
• • •
Questions From Community
Lucinda — Instadox (@wellonzk):
Nearly 80% of investors only focus on short-term token prices instead of understanding the real value of the project. Can you tell us the motivations and benefits for investors to hold your tokens in the long term?
Owl:
We fully recognize this, and so we actually set an accelerated vesting schedule for our private/strategic investors so that we can re-evaluate their contributions to a quicker than normal timeline. If one of our investors doesn’t want to be in — they don’t need to stay in. With that being said, our private round vesting is coming to a close next month, and our strategic investments are fully invested in November.
• • •
I am Back (@Explar):
I know that partnering with some elite names is the key to the progress of every project, so does the project have a partnership with some elite names that are believed to be mutually beneficial projects? If so, can you tell me who the project is partnering with?
Owl:
I’m not entirely sure that I’m sold on this. End users come to projects that provide value for their money. Yes, partnering with the right projects can get your foot in the door to some circles that can provide answers — but just because a protocol partners with another one doesn’t mean that a mutually beneficial relationship is just born. With that being said, and with regards to 0x_nodes — again, we are prepared to integrate with protocols that exist on the market in their current form without modification on the remote side. Assimilation is not optional.
• • •
Potessiumxthree (@potassiumxthree):
NFTs are trending now. Do you have a play to have NFTs in your platform? If so, can you tell us the plans of your project in NFTs?
Owl:
We love the art and have curated an amazing design team (and marketing team) and would love to see some entry into the NFT space.
• • •
PewNaraka (@Pewnara):
Do you have any plan to expand your project to other chains like BSC or Polkadot in the future?
Owl:
Yes, probably more EVM and non-EVM-based chains. We are extremely interested in creating an interoperability layer between all chains, not just EVM chains.
• • •
Shanita (@ShanitaRoach):
As crypto users, we want to avoid losing our assets to some scam projects that run away and disappear with our money, so why should we invest in your project as a long-term investment?
Owl:
We have a proven track record. I appreciate your hesitancy and encourage you all to do your own research.
• • •
Bbrooks (@bbrooks066):
How strong is your team? Many projects start with a good impression and are later abandoned. What makes your project different from others?
Owl:
The team behind 0x_nodes is an 11/10. I’ve never seen such a devoted, loyal, and courageous group of talented individuals come together united in a common goal like this. In addition, we have an extremely strong and dedicated community.
• • •
Questions From Twitter
BTSE Moderator:
From Orborne — Does your project support a staking program? If yes, how does your stake system work? What are the requirements for users if they want to stake in your platform??
Owl:
We have three stakepads live right now to earn $USDT, $BIOS, or $BIOS+$SUSHI. The protocol itself will accept many different assets depending on what is required to operate at capacity.
• • •
BTSE Moderator:
From Fernando Gonz — I noticed you’ve done a lot of AMAs. My question is, what do you hope to gain from doing so many AMAs, and what are your community goals? Do you think the community plays an important part in the project?
Owl:
We are hoping to grow our already amazing community and spread the joy of what we are building to everyone willing to come along on this journey with us. My goal as ambassador to 0x_nodes is to spread the message of what we are building as far as what’s possible in the amount of time we have, and I have nothing except the utmost respect for everyone that joins our community.
• • •
BTSE Moderator:
From Join Hiddleston — Safety and security are always the most important issues. How will the team resolve if there is an unfortunate security problem? Has the team thought of a workaround for this problem?
Owl:
We have an amazing relationship with Halborn, who is doing our security auditing. We’ve recently expanded that relationship even further to ensure the safety and security of our user base.
• • •
BTSE Moderator:
From Alexa Martinez — In researching the project, I could see that your platform has not yet audited its smart contracts, so I would like to know when this will occur and if the community will be able to vote on which top-tier organization does this?
Owl:
This is happening right now. We are in the process with an amazing team to get the audits done as quickly as possible.
• • •
BTSE Moderator:
From refargotohp2532 — In every project, the Ambassador plays an important role. Do you already have an Ambassador program? Can I have a chance to be one of them?
Owl:
We agree with this — community ambassadors, engineering ambassadors — we need ambassadors to help us spread the message of what we are building. We are building out a development fund to encourage active development on our protocol from 3rd party developers. So yes, of course, we are open to people applying for roles within our organization.
• • •
0x_nodes Social Media
To keep up with the latest developments, follow 0x_nodes on social media:
Website: https://www.0xnodes.io/
Telegram: https://t.me/XND_chat
Twitter: https://twitter.com/0x_nodes
Discord: https://discord.com/invite/usjHQVpaES
Medium: https://0xnodes.medium.com/
