On Oct.27th, Slope Finance was pleased to invite the Francium Community Manager Icy to Slope Discord Community to share how Francium waded in the Crypto market.
Q1: Please first introduce your team and why you built Francium?
A: We started writing our first line of code in May when the Solana Seasonal hackathon began, and Francium participated in that Hackathon. We won the first runner-up of the Asia and kin prize. Before we engaged with Francium, we were all practitioners in Blockchain & Internet Finance. DeFi is a highly innovative field. Some people gained high yields through DeFi, but tons of capital were not used efficiently or wisely. At that time, we thought, maybe it’s time for us to build something, something that can enhance capital efficiency and bring users sustainable yield. That’s how Francium was born.
Q2: Well, these are really some of the issues that DeFi users are facing, so what kind of product is Francium going to offer to help users solve these issues?
A: Francium is a yield strategy aggregator on Solana. Our vision is to let DeFi users apply any strategies on any targets, and bring various high-yield opportunities to DeFi users.
In the DeFi world, there are a lot of yield opportunities, such as lending, liquidity mining, staking, subjective trading, arbitrage etc. However, users may not make full use of these opportunities to gain profits due to reasons like lack of funds, lack of effective strategies, inability to find opportunities in time, etc. At the same time, the fund utilization of most DeFi protocols is still at a low level.
Francium Protocol is aimed to provide diverse yield targets and strategies with leverage allowing users to open leverage positions on multiple strategies such as portfolio management, leveraged yield farming, algorithmic trading strategies, etc.
Leverage is the core part of finance. Francium has established its own liquidity provision protocol and is also actively expanding protocols and inter protocol lending to provide a margin for strategies. Francium integrates a variety of financial instruments (such as option and future) to help users create and implement various strategies. Moreover, Francium’s strategy bot will provide a host of functions like off-chain calculations and data input, Automatic Trading Strategy, Debt Refinance, LP Position Management, Stop — profit, Stop-loss, and Yield Collection & Compounding.
The last and far most concern, obviously is trust, trust in terms of security. Considering this, Francium team agreed with first things first. We designed a series of special protection mechanisms, including Oracle protection, active liquidation pools, strategy whitelisting, etc., to protect our users’ assets.
Francium’s various strategies and protection mechanisms will bring sustainable high-yield and stable yield opportunities to users.
Q3: What’s the current progress of the protocol?
A: The beta version of Francium has been launched on Solana Main-net at the end of July, and there are tens of millions of dollars earning yield with Francium.
Lending Pool, Leveraged Yield Farming, Contribution Incentive System and Preview of Strategy DevTools are included in the current version of Francium.
Now on https://francium.io/app, you can farm more than 30K% APY with 3 times leverage. You can also set a low stop-loss threshold to reduce the risk brought by leverage. We are the only one that allows you to set up a stop-loss position.
Francium is also very easy to use. For example, if you want to farm a pool, all you need to do is deposit a token, such as USDC. Francium’s on-chain smart contract will automatically convert half of the deposited USDC into another token (e.g. SOL), then add these tokens to the relevant Dex to get the LP, and then stake the LP to the mining pool. In addition, the compound is an important way to generate high profits. Francium helps users automatically take out their earnings and reinvest them into the relevant positions. This allows profits to be generated quickly, thus maximizing earnings.
Users can deposit tokens into lending pools on Francium to get interested. The APR of lending pools on Francium is higher than most of the lending protocols because utilization of funds in these pools is high most of the time.
Francium has a contribution system. Users are able to get CPs by participating in various activities, such as Early bird activity, lending, sharing, and etc. Francium will give continuous rewards to users based on CP points.
Q4: What plans do you have for the future? What more does Francium have in store for us?
A: The goal of Francium is to bring various high APR strategies to DeFi Users. Leveraged Yield Farming is just one part of this.
Francium is cooperating with TOP traders and trading platforms to create professional strategies for users.
By the way, all users can use the tools provided by Francium to create strategies visually. Strategies Dev Tools will promote the establishment of a prosperous strategic community.
Strategies, Dev Tools, and incubation DAO will be gradually present in the future. Welcome, everyone to come and experience.
Q5: We’d also like to get to know your team. Who are the core members of the project team? And what makes you guys special?
A: Members of Team Francium are all from TOP blockchain and Internet companies.
Before building Francium Protocol, we have accumulated a wealth of blockchain algorithm research and implementation experience. We’re also very early users of DeFi.
Based on these experiences, a lot of innovative work is being done.
Q6: How are you different from and better than other leveraged yield farming aggregators? Alpha Finance or Alpaca Finance?
A: A lot of people asked about that. The interesting part is, we are not a leveraged yield farming aggregator.
Surely our main feature at the current stage is LYF, but it’s only a small part of the story. Our final goal is to build a DeFi strategy aggregator, bringing high yield with different strategies to DeFi users.
LYF is only one of the strategies you can choose from.
Even if we only talk about LYF, we have our advantages. Francium allows our users to set up a stop-loss position, which can greatly reduce the risks. We’ll continue to launch excellent mining strategies next.
Q7: Francium, why this name? Wen token?
A: Francium is the most active metal element. This name can perfectly show our features, like, what we are doing is to bring innovation to Solana, to DeFi. We are going to be one of the most active projects to bring high yield to our users continuously.
As for the token, we’ll make an announcement when everything is ready. Stay tuned.
Q8: Francium launched a yield farming calculator recently, could you introduce it briefly? If users have more suggestions for the calculator, what will you do?
A: Thanks for the question. A few days ago, Francium launched a visual yield farming calculator on Solana, which can help calculate the change in asset value and the liquidation risk under different leverage and different borrowed assets with the change in price.
DeFi users in the community have been suffering from the inconvenience of calculating the profits and risks of leveraged farming, and that’s why the calculator was born.
We are open to suggestions on our yield farming calculator, and we’ll adopt these effective ones and make continuous improvements!
Experience our yield farming calculator here: https://francium.io/app/calculator
Community Live Questions:
1.How does Francium expand the global market? Do you have any ideas for recruitment? How will you grow local communities such as Vietnam, India, and Indonesia as well as the US?
A: Our Global Ambassador Program is underway, please check this out and you can also apply if you meet the requirements https://twitter.com/Francium_Defi/status/1451178301796413446
2. Audit, will Francium undergo auditing soon, or when?
A: Auditing is in progress, reports will be released at the end of this month
3. Does the team have a blockchain background？
A: Yes sure! Members of Team Francium are all from TOP blockchain and Internet companies.
4. Great Ama Will francium consider diving into NFTs in the future?
A: Yes, of course, we’re also preparing our NFTs. Stay tuned!
5. Will Francium have an IDO soon?
A: Please keep following us and we’ll make announcements!
6. Francium is a leverage income platform, and I am very sure of his algorithm. Will Francium consider taking the leverage trading route of DYDX later?
A: Francium is a DeFi Strategy Platform. It will not take the leverage trading route of DYDX. But will integrate such platforms to serve strategy building. For example Mango, Psy Option.