DeFi DAO x The Block Circle AMA Recap

On 7th Sep, our founder, Brenden Keller, participated in an AMA hosted by blockchain community The Block Circle. The following is a recap of the key content of the event.

BK: Brenden Keller@DeFi DAO

CM: Crypto Mount@The Block Circle


Hey everyone, it’s my pleasure to spend time to share our beliefs with the crypto community members from all over the world!

I’m Brenden Keller, founder of DeFi DAO.

Just a quick intro of my background – I was one of those who showed an enormous level of passion in Blockchain technology way back then.

I hold a two Master degrees – Master in Science in Applied Economics, and Master in Science in Digital Currency. Driven by the enthusiasm over blockchain technology and digital assets, I have worked as business development associate. for a Crypto/IOT startup specialized in next-generation supply-chains and also as a digital asset investment advisor in a blockchain solution provider company.

In my earlier years, I have made several attempts at launching two different start-ups in Berlin.


Moving onto project introduction. Our project is called DeFi DAO, which aims to build up an open financial network based on blockchain technology.


Now tell us something about defi dao in brief .

We believe everyone should be able to enjoy equal access to the. DeFi. market in the most simple and practical way, meaning everyone can enjoy safe, diversified borderless financial services, and also benefit from the convenience brought by digital currency, anytime and anywhere.

DeFi DAO is a parachain, and a DAO Chain, built on Polkadot, that issued the governance token DeFi DAO Token, which is referred to as DDAO.

DeFi DAO enables users to invest in nearly 30 DeFi protocols, in a one-stop manner. Users could mine, vote to govern a basket of DeFi protocols with just a few clicks. Think YFI vaults in Polkadot.

Currently, interoperable platforms include but are not limited to Compound, Maker CDP, TokenSets, Uniswap, dYdX, Synthetix, Fulcrum (Lending), Augur, PoolTogether, RealT, Maker MCD, Aave, Curve, Chai, Idle, yearn finance and 0X Staking.

That’s a quick intro about us. Excited to answer some questions from The Block Circle Community!


Now we will take 5 Questions from Twitter.

And here comes the first question.

DeFi is one of the hottest topic in the blockchain space right now. Can you share your opinion about DeFi with us? Do you think that DeFi will disrupt the existing financial system? What is DEFI DAO. approach towards the DeFi sector?


We can all feel the enormous changes brought by DeFi. For instance, Traders are beginning to move away from over-the-counter desks and middlemen in favor of emerging DeFi platforms like Makerdao, Aave, and Uniswap.

While DeFi is still in an experimental phase, I have already witnessed a great deal of interest from traditional financial institutions. It used to take months or years to deploy a new financial derivative on a centralized platform – now it takes less than a week.

DeFi is unstoppable and irreversible. However, at the end of the day, DeFi protocols need to compete against traditional financial services when it comes to. user friendliness and simplicity. It could be troublesome for newcomers to bring their asset across different platforms or keep track of the total asset. That’s why DeFi DAO is here, aiming to reduce the threshold and empower DeFi through governance.

For a century, our financial system has been constantly updated and iterated, so I don’t for a second think DeFi will destroy or completely replace the existing financial system. On the contrary, DeFi can push the financial system to make essential new changes :)


Can you list 1–3 killer features of DeFi Dao that makes it ahead of its competitors? What is the competitive advantage your platform has that you feel most confident about?

Ok, I will share our 3 killer features. 3 is a magical number, isn’t it?

Brenden Keller @DeFi DAO | I will never PM you first, [06.09.20 16:14]

1st killer feature: AGGREGATOR

DeFi DAO itself is a DeFi aggregator, opposite to many single, chaotic DeFi protocols.

DeFi DAO does not only act as a bridge to safe and reliable DeFi protocols, but it also makes revolutionary changes to user friendliness. Think a decentralized financial investment solutions supermarket in which you could buy pre-selected high quality goods

2nd killer feature: DAO

Defi has attracted and locked a huge amount of funds.

Today’s total TVL in USD is 7.49 BILLION, from DefiPulse stats. These funds are in huge demand of governance.

Unfortunately, most of the DeFi aggregators only provide solutions to the protocols, but do not bring any value to other important roles in the ecosystem, such as investors and community members, technical members, and project teams.

By building a platform for communication and governance function, DeFi DAO offers a valuable solution to this problem.

3rd killer feature: PARACHAIN

A large number of DeFi projects choose to develop on Ethereum, and the popularity of DeFI applications has caused extreme congestion on Ethereum. The cost of miner fees is also very high, which is difficult for general users to accept.

If the current situation persists and cannot be resolved, it will inevitably cause a crowding-out effect on the applications on the chain and become survivable, or the rest are high-value applications, and it is easy to make some small and micro transactions After being completely squeezed out, it gradually becomes a privilege that seems to be the rich.

While DeFi DAO is a parachain of Polkadot, these problems will be solved.

What believe what DeFi needs is a Web 3.0 architecture of buzzing public blockchains, private consortium ledgers, anonymous zero knowledge proof chains and all the countless applications running on top of each of them. NO ONE SINGLE CHAIN TO RULE THEM ALL, but a world of diversity where individual chains serve specific use cases and specifications.


Polka has more scalability than ETH as well with fee as low as like 0


Yeah when you think about it, everyone complains abt ETH high gas fee but no one is making actual changes…

Well someone is gonna do the job and it’s us, DeFi DAO


So now we will move to 3rd Question .

Why do you choose to build on Polkadot over other chains like Ethereum which is the mother of DeFi and TRX which is also upcoming in DeFi. What advantage does POLKADOT give you?


Sure, that’s a good question

I’ve just mentioned the painpoints of Ethereum. Although trx has been solved in terms of performance and handling fees, the problem of cross-chain and cross-chain collaboration of assets is Polkadot’s unique advantage.

There are four key reasons why we chose Polkadot.

  1. Polkadot’s cross-chain collaboration helps DeFi DAO to collaborate with DeFi protocols that are migrating from public chains such as Ethereum.

2. Polkadot’s cross-chain assets will help DeFi DAO capture more cross-chain assets, such as BTC, EOS, ADA and future FIL

3. Polkadot’s ecosystem is already mature, which will help DeFi DAO find more partners easily

4. DeFi DAO is applying for the Polkadot Fund. Abundant funds will help us acquire users and talents.


Could you give us an overview of DDAO tokenomics? Is the token designed to rise and fall with the success of the platform, and does it include any scarcity paths such as stake, store, or burn?


In our design concept, DDAO functions are not limited to governance and payment of interest fees.

DDAO will be used for: transaction, interest payment, governance voting, liquidity incentives, investment and mining, market cooperation, mortgage dividends, mortgage synthetic assets, etc.

By integrating a suite of DeFi protocols, DeFi DAO will create a strong network effect in FinTech, and DDAO will continue to grow with DeFi protocols.

As more utility dimensions appear on our platform, the value of DDAO will continue to rise and become increasingly scarce.

I encourage everyone to check out our website and whitepaper to understand more about our design concept and tokenomics.

And I actually wanna go back to your last question regarding whether we are on-chain or off-chain.

DeFi DAO implements a hybrid model – the identity system is built on a centralised server, whereas the smart contracts, transactions and voting will happen on chain.


Now we have come to our last question from Twitter.

How would users benefit from the DeFi yield farming trend when they join Defi DAO?


With DeFi DAO, users can benefit from two types of mining.

1st type of mining:

Invest in any DeFi protocol on DeFi DAO, inject liquidity into the platform and protocol, and then participate in liquidity mining.

Of the 61.05% portion of DDAO reserved for users, 80% is linearly released through the protocol mining algorithm in DeFI DAO to support the project’s future development.

This means that any DeFi protocol that users participate in or invest in DeFi DAO (including but not limited to loans, transactions, stablecoins, etc.) as long as the amount is greater than 1 DOT, they will receive DDAO incentives with different weights, and the token incentive release cycle is 4 years. Specific release rules will be determined in the form of DeFi DAO community voting governance.

61.05% of DDAO is reserved for users, 20% is used for liquid mining in uniswap

2nd type of mining:

DeFi DAO has designed an investment vault for users, which can help users mine from a basket mainstream DeFi pools, and the mining income is subject to a proprietary algorithm.


Getting back to the last question, are you gonna use your own protocol?

As I mentioned before, DeFi DAO acts like an aggregator, think a supermarket with all kinds of pre-screened high quality goods inside

We aggregate and provide GOVERANCE for the mainstream protocols, you name it, and there’s a high chance that we have that in store

We got a native protocol with a native token that supports modularised financial primitives and provides INTEROPERABILITY amongst protocols


Got it. So let’s move to open Questions?

I mean live. We will open the group now for community to ask their questions


I’m ready. Let’s do this!

[The group was unmuted after a 5-second countdown and over 30 questions from the community flooded in before the group was open again]

Below are the selected live questions with answers.

1st selected live question:

Currently,there are so many yield mining products on the market with like 100–1000% returns, can you tell us why should we invest on DeFi DAO?


We joked about the sushi effect before this AMA, thinking if that was why the group was a bit quiet lol (not anymore!)

Last week we could easily find mining products with 300% returns or something but in the last few days, we also witnessed many dramatic price dropping and fluctuation moments.

We firmly believe that investing in yield mining products and investing in DeFi DAO are two completely different tracks.

So back to the question, why should one choose DeFi DAO over other farming products?

First of all, in DeFi DAO, you can use DDAO, USDT or DOT to invest in a whole suite of safe and pre-selected high-quality DeFi projects, or in the vaults, to obtain mining income.

Secondly, DDAO has so much more investment value and other use cases. For example, DeFi DAO itself is also a mining project. More than 60% of DDAO will be released to liquid mining.

Let’s put it this way, guys – Investing in DDAO is equivalent to investing in a future WEB3.0 super DeFi ecosystem.

So, we are not just any single yield farming product – rmb the supermarket analogy I used before.

I hope this explains the differences and our competitive edges

2nd selected live question:

I saw in the group saying that DDAO will be listed on Uniswap one week after the public offering. So when will the public sale end?


We believe that good projects will ALWAYS be supported by “smart money” no matter when they are publicly funded or launched.

We decided to launch the first round of public sale on the 8 Sep, in a Dutch auction method.

We will then start the second round of public sale immediately after the successful completion of the fundraising. I believe it will not take too long from now to end of the third round public sale.

3rd selected live question:

What is your long-term Vision of the industry where the DeFi DAO works? Are you afraid that one day there will be another project with more innovative technology that can replace DeFi DAO ?


We firmly believe in the future of DeFi – as I mentioned before, this is not a fad, but a unstoppable and irreversible trend

Projects has no choice to beat it but to join it – adopting the latest DeFi technologies and incorporating the most innovative and user friendly protocols, acting like a HUB

Therefore, unlike most blockchain based projects, DeFi DAO will be upgraded and constantly making progress and improvements in order to facilitate mass adoption in DeFi.

4th selected live question:

How do you plan to prevent oracles from providing false data? How do you verify the received data at DeFi DAO?


There’s NO 100% sure-proof way to prevent false data providers, we are not living in utopia.

However, we can penalise them and use the solution provided by band and chainlink.

At our project rollout stage, we will use third-party oracles for accuracy and speed – these are what we couldn’t sacrifice for.

However, as we grow, these third party oracles will be replaced with an upgraded and modified Oracle built specifically for our DeFi DAO functions and use cases.

5th selected live question:

DeFi and DAO are two different mechanisms and protocols in the blockchain ecosystem.

Is it necessary to combine them? What are the advantages to do that?

First advantage,

the blockchain community does not just care about exchanges and speculation (though we do sometimes lol, but it’s not everything)

We have learned that a considerably high number of users have a growing demand in “Goverance” after investing in DeFi projects, but often these users don’t know where “governance” could take place, or where they could find the like-minds

That’s where DeFi DAO comes in, we are here to build a governance platform that fulfil the need to “stick together” and exchange in an in-depth manner.

Second advantage, at DeFi DAO, users no longer need to transfer funds across different platforms that are so cumbersome.

For example, you can be a miner of a certain project within the DeFi DAO mining channel, and you can directly use the governance tokens generated to create proposals, initiate topic discussions in DAO’s DAO channel.

We are proud to say that, we are the PIONEER to combine DeFi and DAO, and also the very first one to have it built on Polkadot, which parachain system suits the innate needs for DeFi applications. So yeah, there’s a reason why we are named DeFi DAO.

6th selected live question:

As a DAO project, how can we participate in governance specifically? What are the entry barriers and benefits?


In the future, we will open the first batch of 8 DeFi projects that support governance functions. Users who hold these DeFi project tokens can initiate proposals and votes for these projects at DeFi DAO.

Our goal is to become an open DeFi aggregation governance platform.

All users and and DeFi projects can create DAO organizations at DeFi DAO and initiate proposals, vote, and communicate.

7th selected question:

Can you share the details of the pre-sale round? Can residents from China participate?



Before we move on to that, I’d like to share with your our belief

Now is the time we see DeFi 1.0 era gone through the whole process of traditional finance in a small-scale experiment, DeFi DAO is one of the pioneers of Defi 2.0 era, in which we need a more complete digital asset selection, higher platform performance, stronger governance, safer audits AND a more user-friendly experience.f

We as the early ones in the blockchain community feel the urge and responsibility to make critical changes to accelerate the world’s transition to DeFi 2.0, which means opening up a whole new financial network that is accessible to everyone with our technological strengths.

And, we sincerely hope everyone with this same belief to join us

Back to the question on whitelist pre-sale,

Our whitelist pre-sale opens at 13:00 UTC, TODAY

Citizens of US and Mainland China are not allowed to participate.

If anyone is interested in joining our DeFi 2.0 quest at an early stage, come to our Telegram group to learn how.

Join the official Telegram group to see how you can participate »



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DeFi DAO, the first DeFi governance system built on Polkadot, is leading the world to transit to DeFi 2.0.