Are you ready to scale the heights of @FujiFinance?

Fuji Climb: @FantomFDN Expedition has just commenced

Find out more about the expedition in their AMA with @CRE8RDAO here πŸ‘‡


πŸ—» In the aerospace industry for 9 years
πŸ—» Switched career in the post-pandemic world
πŸ—» Did not become a crypto believer until he found DeFi
πŸ—» Started learning Solidity and have been building ever since


πŸ—» Have been in crypto for 6 years
πŸ—» Deep into DeFi
πŸ—» Manages communications with external partners and community

πŸ—» Is a full stack developer
πŸ—» Before Fuji, he was in Web2 and Finance

Their team

πŸ—» Consists of 8 people
πŸ—» @unb0rn__ joined them as their artistic director
πŸ—» @0xtiagofneto is their Solidity dev
πŸ—» @guill__om is their frontend dev

How did they meet?

πŸ—» The three of them met during ETHGlobal MarketMake 2021 Hackathon
πŸ—» They met online and have been working online
πŸ—» Try to attend conferences and meet each other in real life
πŸ—» Last time they met was at a hackathon in Amsterdam a few weeks ago


πŸ—» A borrowing aggregator
πŸ—» Save user’s time by always routing to the lowest borrowing APR
πŸ—» They optimize long-term loan costs by refinancing using flash loans

β€œAn analogy is everybody jumps on a train and they share the cost of the gas for the train to move from one city to another. So the more users pool themselves, they share the cost of moving this train, refinancing from one place to another.”

– Daigaro Cota

Which chains are they on?

πŸ—» Their alpha version is live on Ethereum Mainnet. The amount of collateral that users could provide is capped
πŸ—» They have a beta version on Fantom, where there’s no cap

Fuji Climb: Fantom Expedition

πŸ—» Their newest campaign where they are trying to gamify lending and borrowing
πŸ—» The more you borrow, the higher you climb and the larger the share of future governance you have

πŸ—» Whenever you take out a loan from Fuji on Fantom, you accumulate meter points
πŸ—» Meter points will be transformed into pre-token bonds β€” a way to distribute project ownership in a time-vested form

πŸ—» The idea is to attract people who want to try out your product and have a longer-term commitment rather than mercenary capital
πŸ—» The pre-token bonds are inspired by the vesting vouchers of @SolvProtocol

Pre-Token Bonds

πŸ—» Pre-token bonds have 3 vesting schedules:
πŸ”Ή 3 months
πŸ”Ή 6 months
πŸ”Ή 12 months
πŸ—» The longer the vesting period, the more entitlement you will get for Fuji tokens
πŸ—» The bonds are implemented using a new standard/ERC-3525 developed by Solv Finance


πŸ—» This goes back to the first expedition they did for their Ethereum Mainnet alpha version
πŸ—» Wanted to incentivize people to use the protocol without having to issue any tokens

πŸ—» FujiFlops is part of their merch
πŸ—» FujiFlops will give holders a head start in the Fuji Climb Expedition

Items to collect in the expedition

πŸ—» The expedition will start with 5 different items:
πŸ”Ή Fuji Gloves
πŸ”Ή Fuji Pistol
πŸ”Ή Fuji Pickaxe
πŸ”Ή Fuji Capsule
πŸ”Ή Fuji Oxygen Kit

πŸ—» Meter points can be used to buy crates with different rarities
πŸ—» Each crate has a chance to contain a climbing gear
πŸ—» Having climbing gear NFTs in your inventory boosts your meter points each day
πŸ—» The more you collect these items, the higher your final score will be

Strategy to get the most points πŸ‘€

πŸ—» Have to find an equilibrium point for borrowing
πŸ—» If you are overleveraged, you could get liquidated
πŸ—» If your positions get liquidated, they will not be able to yield meter points

How long will the expedition be?

πŸ—» The expedition will have several phases
πŸ—» The gameplay will last for 2 months
πŸ—» After each phase, there will be a locking ceremony where people throw their gear into the lava of Mt. Fuji

πŸ—» In return, they will get a souvenir NFT that allows them to enter the next phase where they exchange their meter points for pre-token bonds
πŸ—» The next phase will last for another month

Fuji Token

πŸ—» Have been thinking a lot about their tokenomics and how it could be incorporated into their protocol
πŸ—» Do not want to rush it and blindly follow whatever tokenomics is popular at the moment
πŸ—» Want to design it in a sustainable manner

Ensuring that moving collateral would not change the rate itself

πŸ—» Once they reach a certain size, moving collateral around can change the rate itself, so how do they circumvent this?
πŸ—» Can think of money markets as cups of water that flow and distribute funds equally

πŸ—» Currently, Fuji has not gotten to the point where they have this problem
πŸ—» On Ethereum Mainnet, they are integrated with @compoundfinance, @AaveAave, and Iron Bank

πŸ—» On Fantom, they are integrated with @GeistFinance, Iron Bank, and @HundredFinance
πŸ—» Other yield aggregators have already experienced this problem. They split the orders through to multiple providers

Deciding which protocols to integrate with

πŸ—» There has to be enough liquidity to aggregate it with another lending protocol
πŸ—» Will look into parameters like LTV
πŸ—» If the parameters are compatible, they can be added as a provider in Fuji

πŸ—» Only consider protocols that have been audited 🧐
πŸ—» In the future, these decisions will be made through community governance

APY for depositors in Fuji

πŸ—» The collateral that users deposit would accrue yield
πŸ—» They would be updating their UI to display this info to users

Their cross-chain plans

πŸ—» Has been part of their vision
πŸ—» During their recent hackathon in Amsterdam, they built a floan β€” flying + loan / cross-chain loan teleporter. This enables the moving of your collateral from one chain to another

πŸ—» Partnering with @ConnextNetwork to create some products
πŸ—» Deployment on @0xPolygon will be available soon

Their community

πŸ—» Call themselves Climbers
πŸ—» Their community is mainly on Discord

β€œClimbers are DeFi users or crypto enthusiasts that want to learn so they climb along the learning curve.”

– Edgar Moreau

What security measures have they employed?

πŸ—» Security is their biggest concern
πŸ—» Have gone through audits with @trailofbits and @ConsenSysAudits

Favourite projects

πŸ—» Projects that have done innovative things β€” @compoundfinance, @Uniswap, @iearnfinance

πŸ—» @HegicOptions
πŸ—» Started his Solidity journey by building on top of Hegic

πŸ—» @SushiSwap and their development cycle
πŸ—» @iearnfinance for how they organize themselves and ship products
πŸ—» @Uniswap V3

Their hobbies

πŸ—» Reading books. Currently reading Psycho-Cybernetics
πŸ—» Making songs and skateboarding

πŸ—» Reading books on history and sociology
πŸ—» Preparing for an addition to his family

πŸ—» He and his wife are foodies
πŸ—» Going for hikes and bike-riding

How can people get involved?

πŸ—» Depositing and borrowing on Fuji
πŸ—» Provide feedback, suggestions, and bug reports on Discord
πŸ—» They are looking to expand the team and they currently need a web designer

Story behind Edgar's moustache

πŸ—» His girlfriend left him and he started to grow a moustache



Thanks to @EthFugu for hosting the AMA


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