FFF Podcast Episode 1 Ft. Hundred Finance
Primer: Acidbird and TerraBellus are part of the Hundred Finance team. In this FFF Podcast episode, they share their background, what they have experienced in their crypto journey, their thoughts on crypto, and Hundred Finance, the project they are working on.
Pre-Crypto Background
Acidbird
Was in management in different companies
His general background is in operations
Has experience in marketing and PR as well
Heard about Bitcoin in 2009 but never invested in it
Had a designer in his company telling him about crypto in 2017. Decided to try it and got deeper into the tech
When he joined the crypto space, he loved building communities
TerraBellus
His first profession was in engineering. This gave him a grounding in technical knowledge
After that, he switched to academic research
Had a long period of doing dry academic research in 2017. Came across crypto and became more involved with it
Finally switched over to do full-time crypto
How Did Hundred Finance Get Started?
Around a year ago, there was another project called Percent Finance
Percent Finance was a fork of Compound Finance
Percent Finance had to shut down because something went wrong
Hundred Finance launched in August 2021. The code was rewritten and new team members joined
They gave the Percent Finance community to come on board Hundred Finance. 20% of HND supply is dedicated to PCT token holders
PCT token holders could get 10% of HND immediately, with the remaining 90% vested over a year
Where Do They Think That Hundred Finance Will Be In The Future?
Planning to introduce cross-chain lending this year
Will be one of the first projects to introduce multi-chain lending and multi-chain governance
Expects the project to grow exponentially from there
Goal is to launch on as many chains as possible
As they only use Chainlink Oracle price feeds, their launches are limited to chains that are integrated with Chainlink
What Chains Are They On?
Already on Arbitrum, Fantom, Moonriver, and Harmony
Planning to launch on Gnosis (formerly xDai) and Optimism very soon
Why Does DeFi Need Lending/Borrowing? Why Does It Need Cross-Chain Borrowing?
Lending and borrowing is a very basic function of crypto
It allows people to hedge their positions
With Hundred Finance taking a multi-chain approach, this enables users to pursue yield farms across chains
They could supply an asset on one chain and borrow another asset on another chain. Users do not need to engage in the complexity of bridging from one chain to another to capture returns from yield farms
What Is The Hardest Challenge That Hundred Finance Is Facing?
There is no tech to allow cross-chain lending and borrowing
They are pioneering the tech and searching for ways to do it in the most secure and efficient way
What Worries Them The Most About Crypto? Is It Regulation?
Acidbird
Thinks that regulation is not particularly a bad thing
“The problem I see is when countries start banning something they don't understand.”
- Acidbird
TerraBellus
Always found tribalism as something that is quite difficult to deal with
Tribalism has put people off from the space
Hundred Finance is trying to unite various ecosystems and communities together
Thoughts On Farming As A Service
There’s lots of complexity to using crypto currently
Farming as a Service will reduce the overhead in terms of time and energy needed
It has to be secure
Their Favourite Play In Their Personal Portfolio In 2022
Acidbird
Has a big NFT collection
Likes LooksRare, the competitor to OpenSea
Stargaze, an NFT marketplace on Cosmos
TerraBellus
Synapse and Multichain (previously AnySwap)
Tends to buy anything that he uses regularly
What Was Their Biggest Crypto Loss?
Acidbird
Started investing in 2018 and had a large bag of many different tokens
Many of them vanished
Was heavily involved in the Neo ecosystem back then
Main Narratives In 2022
Acidbird
Thinks that it will be cross-chain technology and NFTs integrated into DeFi
DeFi will become more established and there will be fewer scams
TerraBellus
Curious to see how gaming develops and the kind of impact it has
What Would They Like To Share With Listeners
They have a great Discord community. They welcome people to hop on board and ask questions
They have a great set of docs created by TerraBellus
Already testing veHND on Kovan testnet. Will be launching very soon on Ethereum Mainnet
Users will be able to use their veHND across all chains
All information presented above is for educational purposes only and should not be taken as investment advice. Summaries are prepared by The Reading Ape. While reasonable efforts are made to provide accurate content, any errors in interpreting and summarizing the source material are ours alone. We disclaim any liability associated with the use of our content.