Vivi Lin on XCarnival’s synthetic assets and DeFi integration

0:02i am ashton addison from block west capital for investment pitch media and the crypto coin show and today on blockchain interviews we have vivi lin the cmo of x carnival vivi welcome to the show and thank you for taking the time to come on today hi ashton thank you for having me you're very welcome i'm excited to dive into the world of synthetics assets d

0:21phi and x carnival i would love for you to kick it off uh with an overview from what i understand you're combining synthetic assets in d5 if you can elaborate on that a little bit more and how that benefits the ecosystem that would be great to start that's right um would love to so ex-carnival is a defined synthetic asset aggregator but before i go any further on the

0:44project i would like to take a step back and just explain a little bit what synthetics are and how they work now to put it in a simple way synthetic assets are designed to mimic the values of other assets now in the traditional financial markets which we are familiar with this assets could be derivatives like futures options swaps with underlying assets include stocks

1:08commodities uh currencies etc now in the crypto space things could get even more interesting because investors could use cryptosynthetics to get exposure to a wide variety of assets without having to hold them so that includes traditional financial products like we mentioned but also all the other digital assets crypto assets included of course now that just

1:32opens um the door for so many possibilities if you think about it so the fact that we are doing this in the defined space means the synthetics have open access to investors worldwide so basically anyone with a smartphone and internet could really have access to it you don't really need to have a bank account now on the other hand cryptosynthetics really give investors access to a much

1:58bigger pool of products from traditional financial products to crypto and also to non-financial products so the applications are really endless and that is how in a bigger sense we as a synthetic project could benefit the defined ecosystem that's really interesting vv and thanks for the background there on synthetic assets i was looking into it a little

2:22bit before our show and i saw that you know synthetic assets and derivatives are such a huge market in compared to cryptocurrency you know we just passed two trillion dollars uh in cryptocurrency this week once again and i was reading that derivatives and synthetic assets are in the quadrillions of size in comparison which is crazy um so from from what i understand

2:46this is not just with crypto assets this is allowing you to have non-crypto assets and put them into a crypto sphere and more specifically in d5 is that correct yes definitely exactly like you said you know like the potentials for the market is huge as we can see from the uh wall street you know the traditional um synthetics uh you know derivatives so we can we can see

3:12that in the defined space you know the um the potential is even bigger so that's really the beauty of it with the right tools you can basically make a synthetic assets from anything crypto non-crypto financial or even non-financial products so really the potential is huge definitely and with the size of cryptocurrency being a lot smaller uh than traditional derivatives which have

3:38been around for a long time there's obviously going to be a difference in liquidity as well can you can you talk about how you and your team are are creating and dealing with the liquidity in these newer markets yeah definitely i think you um you pinpoint a really important issue which is liquidity and that is really you know one of the key elements in the device

3:59phase now especially when nft came into the picture now we have nft and and you know in in defined really um collaborate so much so in fact the nft marketplace have suffered from a lack of liquidity especially in the secondary markets so at x carnival we really created um like a product called x broker that is the peer-to-peer platform to allow people to pledge their nfts

4:27without having to sell them if they need the money and on the other hand other users could lend the money to them with an interest so if you think about it it's a win-win situation because owners of the nfts now could get the liquidity they want instead of just sitting on assets now uh while the system would keep the nfts for the time being and allow the lenders to make a profit so by

4:52doing this we're really solving the liquidity issue in the space now um one more thing i would like to join your attention to which is the uh the price discovery of nfts now this is this has been a very tricky issue because it's really difficult to pin down exactly the right price for an nft so we also have a unique design to address this issue so with our

5:16peer-to-peer mechanism um together with the clearing design so the prices of the nfts now are decided by the pledgers and lenders through negotiations so in other words ex-carnival really provides the tools and marketplace a little bit like a decentralized ebay so um if you look at the process even if the pledges could not pay back the money um so under the rules of clearing like

5:44the pawn shop the nfts will go into a bidding process so that means lenders might be able to get back even more than they they land or in the worst case they will get to keep the nfts so just like that you know we help to increase the liquidity in the divide and nft space very cool thanks for that explanation vivi and yeah especially in nfts uh i've

6:08seen throughout 2021 the valuations of them have just exploded and it's crazy to see some of them going for hundreds of thousands of dollars and how they evaluate them and to be able to have extra liquidity on that uh to be able to uh lend them out and have d5 functionality i think is a great bonus as well and i'm curious with with this marketplace and ex broker

6:32and and the whole platform all altogether are you targeting institutionals uh retail investors or those who are new to d5 or is it a combination of all of those well you know like that's very interesting question so our mission has always been to help more people to get access to um to and more exposure to the defined space so from providing more synthetic

6:57access to them like i mentioned or solving the liquidity issues in the space it serves the same purpose so um to answer your question we are definitely a 2c platform we're targeting the masses retail investors like people with or without crypto experience so we really hope that our products um are easy enough for the ordinary people to enter the space and really benefit from

7:19it and we also want to make it fun so just like our name x carnival so that means like a carnival where everyone could really have fun while bringing home some rewards definitely and yeah you need to have fun uh while you're doing that i agree with that um yes and in the platform as well i know you're you're saying that you're targeting those who are

7:42new and trying to target the masses and there's also the xcv x carnival token that's built into the platform and i wanted to touch on that for for the new users who are getting involved can you talk about uh the value of the token inside the platform what are the main purposes that it serves and how does it create a sustainable ecosystem for ex-carnival

8:04yeah definitely you know the xdv the token is called sdv is very important it's a very important puzzle of the whole ecosystem is the governance token for ex-carnival so first of all it serves the community community like holders of suv can participate and vote for the major decisions that matter for the community so as we speak we have more than 120 000

8:30people in our telegram community and and then the number is growing so we're really very devoted um to serving the benefits of the community and then the token is really an effective tool for that and then of course it comes with the financial benefits uh which is also a lot with a lot of people are interested in on that front so holders of xdv could

8:52use tokens for liquidity mining or use them as collaterals for landing as you know we mentioned when when if they want to land or pledge and you know like so the token is a currency in the ecosystem and also later on when users want to create their own synthetic assets on our platform with um our product as arena which is still being developed the tokens will be needed to

9:16do so as well so in this case we believe that um with the both community governance and financial functions the ecosystem will grow sustained sustainably great thanks for that explanation and i also saw that you actually have a two token or multi-token system where there's also a stable coin involved which stable coins are always nice if you're dealing with uh defy assets to

9:43avoid impermanent loss or just to have more stable and understood volatility and exposure and risk and that's the usd xc stablecoin as well can you talk about why the need for a stablecoin in the platform and what are the functions that it serves yeah definitely you're absolutely right we do have our own token and then the stable coin so exactly like you said you

10:06know in general stable coil is very important because of the high volatility in the space now for x carnival the us usd xc is the crypto collateralized stable stablecoin with its value packed to the u.s dollar uh is necessary because it really prevents volatility when users conduct various activities on the platform as you can imagine um you know like when

10:30you were doing for example when you apply general lending making synthetics etcetera you really don't want the prices to fructory too much while you're in the process so it's really a must to have a stable coin uh but compared to other stable coins such as usdt usdc mccadel you know you name it one of the most unique offerings we have is that usdc um

10:52usdxc not only does it you know have the key function functionalities of stabilizing the prices it also allows users to mint usdsc with a large fold of tokens including mainstream coins and also alcoins so that is part of the beauty of the synthetics so again you know that means more liquidity for the whole ecosystem and of course you know we we we have a comprehensive system in in

11:20place for risk management because we are aware of the risk behind that so for example we have different collateral rates for different cryptocurrencies and we also have emergency mechanism in case of hacking and we also have plans to deal with bad debts etc that's good to know and with all the talk prior about nfts as well i'm curious uh recently in the news you know it was all

11:49over coin telegraph and in cryptocurrency news as well uh mark zuckerberg is focusing facebook and its parent group of companies on the metaverse you know all this talk about virtual uh reality and nfts involved with that i'm curious if ex-carnival is also diving into metaverses as you continue to expand yes definitely for sure you know like mark zuckerberg is really everywhere and

12:16we just saw the news like and nvidia is also you know saying that they are into that they're looking into uh metaphors as well so as at as carnival we followed the metaverse face very closely um you know i just want to you know talk to you a little bit about um metalworks that's so interesting right so if you read neil stefan steffensen's um sci-fi snow crash

12:40you know that metaverse actually simply means a share online space so it could be really think virtual but when i think when metaverse meets crypto it really makes more sense because blockchain could really offer so much for this share space so basically it's from web 2.0 to web 3.0 because we have data sovereignty we have privacy just to name 102 right so with nfts in the

13:06picture it's even more interesting because it could verify the ownership and provenance of the virtual properties so for ex-carnival we are you know we are aiming to empower the space with our unique offerings so for example with x broker we are providing liquidity for nfts in the metalwork space and we also allow users to make synthetic assets out of matterwords

13:30assets for example like to to provide more exposure to the metaverse assets and help with liquidity on that front it could be anything from in the in the metal space it could be you know in the gaming space it could be the lens it could be the you know the um the clothes the skin in the games and everything so we allowed users to to make synthetic assets out of anything from the matter

13:56space and we are also you know like so on that front we're really seeing a lot of synergies between ex-carnival and metalworks and and we are devoted to making metaverse a really a better place with our contribution very cool and that's really exciting to be able to combine synthetic assets into the metaverse as well so it sounds like your team has a lot of ambitious plans

14:20you know with x broker x arena all the other functionalities coming out in the platform maybe you can give a high level snapshot of some of these main uh releases that you're looking to bring out uh out of the platform from now until the end of the year or in the next six months what are the major things that your team is coming out with sure okay i would like to share with you

14:44some of the milestones and uh but before before that let me give you just like a very short overview about what we've come through you know what what we come through um you know like we from the past several months um you know we come a long way we won the finance smart chain hackathon as champion for southeast asia and we've also listed on coin market cap growing our com uh

15:09commodity community to over 120 000 people in less than two months so now fast forward to now um in terms of milestones we're really aiming to build um a solid platform and also um building our community with consensus so we have already developed our first product x broker um this is like you mentioned this is a platform to provide nft pledging and landing services to

15:35users so it's fully developed um ready to launch and now is it's been tested um so and also it already passed the security audit by certain so um so this product will be launched probably in the next uh next month we're still because we're still collecting feedbacks from our users so we'll launch it when we are fully ready to launch and our second product um megabox which is a

16:01lending and pledging platform for long tail assets um especially for all coins so this product is also developed now queuing for security audit so um i think in a in the in the next six months we would um definitely launch one or two of those products and and so you know like the major ongoing milestones will be to really improve the user interface and

16:26user experience based on the tests and feedback from our users uh because again our aim is really to serve our users and community with the best products we could build definitely i completely agree thanks for those updates and it's great to be in constant communication and receive feedback from your community as generally you want to have a community

16:49governed platform uh so that they you know the customers receive what they want um so that's great vivi thank you for that we don't have a lot of time left so i would like to know for those who are looking to join the community and get involved and and follow along with these updates as they come out as well what's the best way for them to start using ex carnival and get

17:11involved with the community oh thank you so much ashton for the questions so for the viewers out there if you're interested in our project you could check out our website at x carnival dot f y i f y f i like x carnival dot f i or reach out to our telegram or twitter or this discord um so our um telegram you can just search x carnival and also twitter

17:38x carnival slash lab to join our community and then we have a lot of campaigns and we have a lot of activities going on so uh really welcome to to join us and to to check us out thanks phoebe i will leave those links in the description box below as well all the best with ex carnival moving forward and let's follow up in the near future thank you so much aston