In today’s AMA, VRM Chairman of Fly – Mr. Vladimir Demin warmly greeted the community and provided detailed information about the project and its key features, as well as some exciting news and hot events will be taking place in the near future.
Time: 8:00 PM (UTC + 7) on Friday, March 26th, 2021
Airdrop 200 USDT for the best questions in the AMA.
PART I: OVERVIEW QUESTIONS
1. First, please make a brief introduction about VRM or BlackOcean.
A: Yes. This is a very easy question.
Let me, first, inroduce myself. I am Vladimir, I am from Russia and I have got a big and long experience working with finance and IT. As long as most of my work was to find innovative ways of solving problems of traditional business I just could not miss this unique opportunity of crypto.
Thus, we created VRM – a high-frequency trading company. VRM idea is totally based on developing sophisticated, AI-algorithms to execute thousands transactions per sec. So we started in 2018 with just pocket money on trading account and now we run the business of around 20 bn. USDT a day. In addition, we extended the operations onto
• VRM Research – we are looking for and invest into young trading teams and our newest project
• Black Ocean – liquidity and dark pool platform for institutionals. Here, it is worth mentioning that Black Ocean is a game changer project as long as starting from the last year a lot of ordinary companies, funds and banks decided to invest into crypto. Thus, we created a platform where it can be done the best way.
Today VRM is one of the most known crypto trading company and now we are expanding onto other areas where we can inroduce some more value.
2. Could you please tell me where the idea of Black Ocean came from?
A: The idea is not somewhat new. As long as the whole team of VRM are traditional finance world specialists we know how big amounts of assets are moved. There is a big niche to operate with large chunks of crypto just among whales. They also do not want to do it in shadow and do not move the price on the market. That is why Black Ocean has been born.
So crypto world should welcome traditional world of finance with the tools they have got used to and comfortable with.
3. What are the four keywords you would use to summarize VRM’s performance in 2020?
A: Wow! Let me think a bit. Lets put it this way – Scale. We extended operations onto all venues with good liquidity
– Diversify. We significantly extended the number of trading strategies, market products
– Profit. We keep on a very profitable trading
– Research. We started incubating and accelerating young trading teams and invets into best of them.
You know that life in crypto runs very fast. So one month in crypto equals one year in ordinary world.
One more focus for us on the last year was to initiate the investment fund to accelerate trading teams and create the whole eco-system of traders
4. We know that VRM is a top-flight quant team. So Vladimir, what makes the VRM team so exceptional?
A: Good question! You know, we are the team with quite different background. This, we have got a very strong CTO – the guy with 25+ years experience of developing matching engine of WS exchanges, our quant traders are just genius (we have 5 PhDs of leading Universities), CEO is a serial enterpreneur and we also have people with very strong financial background. I was the CEO of large state-owned fund investing into innovations. So all together we have all knowledge and passion needed for success.
PART 2: PRE-COLLECTED QUESTIONS FROM TWITTER
1. What is the tokenomics of Fly and how can Fly token help to connect all parties of VRM ecosystem? @Hothaihaaaa
A: FLy is token to support and make easier settlemnts within the different parties of Black Ocean and other services. Thus, Black Ocean pays rebates for order flow. This rebate is based on the best price of the order flow. Lets make an example: the rebate of 1 BIP or more will be paid if someone holds some FLy tokens and give the best market price (calculated on automated logics). Other ways of settlements also motivate participants to use the platform more actively. The token is used to obtain other services and investments provided by VRM or other player of the eco-system.
2. The Fly token whitepaper mentioned that one of the roles of the $Fly token is to provide traders with rebates. What rebates are you referring to and to what extent/volume of trades must a person make to fully avail these rebates? @thong65989838
A: Looks like the question is similar to the previos one but let me extend the answer. Another example. As long as Black Ocean is the platform for whales only, no retail is allowed on it. In order to let retail to work on this market too Black Ocean will provide DEFI add-on enabling retail people to stake some funds on it and pool them together to be able to work with large orders. This staking will be only possible with Fly tokens. this is not a rebate but another usage of the token.
3. What are VRM’s priorities in 2021? As we are in the bullish phase of the crypto market, are there any exciting initiatives that you’re planning in the pipeline that you can share with us? @radom42992010
A: Well, this is important. The current priorities are
– Make an IEO and complete following listing plan for Fly. This will be done very soon, on this month
– Than to launch Black Ocean platform. This is the top priority.
– After that we will launch DEFI extension for Black Ocean that allow retail people to work with whales
– We also have a few very surprising developments on the way and I would prefer to tell about them later on.
4. Do you have any strategy to expand globally in the coming time? If yes, please share some of your promotional plans in other countries. @nhan11396724
A: Yes, we are global from the day one. Our team is fully international and we spread in Asia, Europe, Russia and US. In many countries we have got society supporting the project and we will open this activities in other countries soon. The plans are very wide: we are looking for promotional partners, we do a lot of parnerships, we do plenty of AMAs and other events, etc.
5. As far as we know, you are not the only one dark pool project out there in the crypto market. I’m curious what differs BlackOcean from its rivals? @buudo5
A: The difference is very easy to understand. As long as we came to crypto from traditional finance we know all needs of these market. Briefly speaking the needs are:
– Big liquidity (able to execute large transactions without touching the market)
– Safety (we use in-built custody to keep the money of our customers safe)
– Easy to use (technological solution is the thing we proud of)
Another big difference is Black Ocean has no public order book. This allows Black Ocean to execute transactions without touching the price. All competitors platform are missing one or another key part of what is needed for institutional.
I suppose that the time for Black Ocean is now. Last or previous years were too early for it as institutional came only now.
PART 3: LIVE QUESTIONS IN THE COMMUNITY
1. FLy token has got burning mechanism. Some parts of profit from VRM, Black Ocean and other ventures will be spent on burning the tokens. So we did it once in February even before the token is listed.
2. We tightly follow all regulation requrements so all legal opinions, smart contract audits, compliance check are done already. We have got a team of crypto-experienced lawyers who follow all newest changes in legislation to comply with it.
3. The info about the team, and all documents and information you can find on our websites: vrm.trade, bo.market, tokenfly.co
4. NFT is a big area and we simply could not omit it. However I would better tell more about it when we have this ready to use. Just a bit patience. You will be surprised. I promise.
5. The biggest differenciation of our motivation is that we launched the token NOT because we need fundrising but just to make life traders easier. We do not have financial problems and developed the technical solution before we started pre-seed round for Fly. By the way. now the test-net is available on bo.market. So the main goal is to develop a community token and use it together. That is why we need your help to promote it and bring more value to ut.