Trace Network AMA With Crypto24official.
Trace Network 2nd community event with crypto24official telegram community and Trace Network Co-founder and CEO Lokesh Rao.
Host: Can you please introduce yourself to the community?
Lokesh Rao: I am Lokesh Rao, Co-Founder of Trace Network. I have been working for over 12 years in enterprise technology space helping companies acquire and implement technology across more than 20+ countries. I have been actively building solutions for enterprises using DLT and Blockchain technology since 2017. Have worked with various global brands and fortune 500 companies in the past in luxury, lifestyle and fashion domain.
Host: Lets dive straight to twitter questions.
Question 1: Can you tell us how $Trace token holders benefit in the ecosystem and what power within the governance model individuals have? Why is it so attractive and what are the basic requirements to participate?
Lokesh Rao: Trace token holders will be able to get various incentives from the brands onboarding trace network including trace project itself. In fact this community project is going to be the first module going LIVE, right after the token launch. Further, as we go along there are many stand alone products of trace network which will require trace to be locked for minting various NFTs at consumer level. Further, imagine trace holders funding the financial needs of global brands and participating in the manufacturing of some international products. as a result being rewarded with real returns or brand specific programs
Question 2: Most users only care about immediate benefits rather than the real value of the project in the long-term. How can Your Project convince users invest to your platform in the long-term?
Lokesh Rao: I think we already covered this question above, however to re-explain it in more simpler manner, trace network will bring you closer to the global brands as per of trace ecosystem.
Question 3: Many new projects develop well at first, but then fail to achieve good results. How will you manage and develop your project to gain a position in the market and become a good project in the blockchain industry?
Lokesh Rao: We are having a minimum avg experience of more than 15 years individually in the team members, not to mention we have worked for more than 18 years with 50+ global businesses and have experience in enabling businesses to adopt new technologies. This is not the first time we are bringing new tech to the businesses.. Infact this is the fourth time, after being very successful in last 3 eras of Cloud, AI, IOT/AR/VR etc
Question 4: Can you tell me some features that you like best about TRACE so that it can compete with other competitors? What are you most confident about for your platform?
Lokesh Rao: Actually, there are no ONE shoe fit for all, but to mention TRACE Network offering solutions for end to end process chain of the brands from community building to enabling blazing fast working capital financing. In fact trace is all about 3 components, Merchandise NFT + Integrated data exchange + Enterprise Defi. We are passionate about all the three components.
Question 5: What are the highlights of trace’s technology and products that you believe will help you succeed? How revenue does trace generate to sustain the project, and what plans do you have to attract more users in the future?
Lokesh Rao: I think i elaborated about the the products above. About the revenue, we get paid from the enterprise companies we onboard for using the services we will be building on top of protocol for them. However, using protocol will be completely decentralized and can be used to any company at their will. And will have revenue streams built in, which will also benefit trace token holder. Details are covered in white paper to be released very very soon
Question 6: As a popular NFT platform, are you planning a few community engagement programs? What is the importance of NFTs and communities to projects? Please explain how Trace Network is encouraging and motivating the community?
Lokesh Rao: Absolutely, we are planning a very innovative community incentivization program especially for the trace holder. These incentives are linked to the real life utilities as TRACE is. Details of the incentive programs are being worked upon and will be released soon. All we can assure is we will give TRACE community to engage with aspired global retail brands in a very very innovative and never before manner. We request you to just stay tuned at trace official community.
Mulika, [30.03.21 15:36]
💔What is the future trend of DeFi, in your opinion? What is the biggest flaw DeFi is facing today? And is Your Project looking to solve the problem?
Lokesh Rao, [30.03.21 15:41]
[In reply to Mulika]
defi in future is going to work on more real world usage. Biggest flaw in Defi today is over supply of capital, Trace is going to enable more practical and efficient avenues for its deployment.
Kana T, [30.03.21 15:37]
Do the token holders have right to participate in the governance of the project? On what kind of decisions can they vote on about the project?
Lokesh Rao, [30.03.21 15:43]
[In reply to Kana T]
Yes token holders will be able to participate in the governance of protocol. In this project, there are many governance parameters for example collateralization ratio, burn rate, company onboarding for credit rating and many more of those types.
Chaina, [30.03.21 15:37]
Your project has great features. There must be an experienced team behind. Can you tell some about your team and their experiences in the market?
Lokesh Rao, [30.03.21 15:43]
[In reply to Chaina]
We are two co-founders and have an able team of professionals as part of the main teams with experience in Blockchain, enterprise tech and global Solution foot print. You know, building consumer tech product and building enterprise tech product these two are completely different ball game altogether.
Mulika, [30.03.21 15:37]
What is the plan to ensure sufficient liquidity on exchanges to fill market orders, especially as adoption increases and clients begin multiplying year-over-year for your project ?
Lokesh Rao, [30.03.21 15:46]
[In reply to Mulika]
There are dedicated liquidity provision fund created in the tokenomics. Same is going to be used in long term. details of the same are going to be announced after the whitepaper in coming weeks
S A N U, [30.03.21 15:36]
Why it’s name is TRACE ?
Lokesh Rao, [30.03.21 15:49]
[In reply to S A N U]
Very Interesting question, TRACE is a name identified to stand out for its mission to enable traceability into supply chains along with information backed into an NFT for stronger traceability of the products. Further, defi financing is also going to be linked with the traceable proof of business, which going to be enabled by decentralized data exchange. Hence TRACE exists in every component of Trace Network
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Trace Network is an enterprise grade decentralized finance protocol harnessing the capabilities of composable smart contracts, permission-less financing options powered by DeFi and NFT based unique merchandise identification solutions to unlock the billions of dollars’ worth of business potential otherwise undermined due to poor merchandise inventory & ownership management, costlier trade financing & banking options, and perennial inefficiencies in par diem business transactions.
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