tele.me: the front page of Telegram communities

Chat record

Anonymouse joined the group
Lakisha Keith
15:47:37

13

Hi i have made a new channel for aion price talk ...can I post the link here for every body who wants to join ?

Anonymouse joined the group
Yashnik - Aion Pool | Founder
16:40:49

no need for more then 1 trading channel...

Anonymouse joined the group
Anonymouse joined the group
Shakur
17:13:31

Wallets 👛

Shakur
17:13:36

Go Back

Shakur
17:13:56

Unity Hybrid Consensus 🤝

Shakur
17:14:8

👍

Shakur
17:14:27

9

Eid Mubarak to you all

Hi

Jeremy
18:14:8

Any word on how Moves is doing in Ontario?

Anonymouse joined the group
HyperTrader
18:20:37

Everyone gets banned from the other one

Joseph
18:20:42

Hey@satran004, what happened to the aion stake bot twitter account? I'm curious to see some of the big movements that have been happening the last few days.app.flipsidecrypto.com/cooperative/oangive a nice overview but it's not as contextual

Joseph
18:23:8

I imagine they're still collecting data. No sense in releasing numbers so early, particularly before any of the loans come to maturity. They're also making adjustments to the product offering based on user feedback to achieve the best product-market fit.

Jeremy
18:24:26

You bet, interesting concept. Im always impressed with Matt on how he presents things.

Joseph
18:28:35

Their first offering was the $2500 one with no repayment for 12 weeks (there wouldn't be any default rate data available yet), now they're offering a $500 one, and seems like the next one will be a variable amount. Zeroing in on what works best over time, basically. And given the lending industry is such a competitive market, they may not release much info before they're ready to release a final product, just to avoid others copying their "secret sauce" so to speak

Jeremy
18:30:39

You bet, i'll be following closely.

HyperTrader
18:31:25

Who will be evaluating credit worthiness?

Joseph
18:35:4

The Moves team. Since they don't look at conventional credit scores, instead they look at the bank account info they pull through Plaid. So if you have a lot of non-sufficient fund transactions, or don't carry a sufficient day-to-day balance to cover the eventual repayments, they would consider it a bad risk and not make the loan in the first place

Joseph
18:35:53

I think they're also considering data from the gig platforms, like number of rides/deliveries, customer rating, etc

Joseph
18:36:57

And presumably as the loans come to maturity, they can correlate the bank info to default rates to further refine their risk algorithm

Joseph
18:40:20

In other words, when some of these loans reach maturity, they can look back and say "these folks defaulted, and here's what's they have in common so we can avoid lending to folks with these characteristics in the future" or "these folks paid everything back on time, and here's what they had in common, so we can allow tools with these patterns to take out larger loans"

Joseph
18:43:38

It meets a need for gig workers, but it's also not a charity. They want as few people defaulting as possible so they get as much revenue from interest as possible. And a big part of that is collecting data and having a fine-tuned risk algorithm

HyperTrader
18:43:56

Seems fairly similar to the traditional system

HyperTrader
18:45:4

Nothing wrong with that though

Joseph
18:47:42

The biggest difference is they're taking a fresh look at it, particularly with gig workers who have multiple income sources and more fluctuating income, rather than relying on the existing credit rating system which has a number of factors that aren't as relevant

Joseph
18:48:35

Rather than relying on what other creditors report second-hand, they're looking directly at the bank account

Joseph
18:50:21

So someone who hasn't had as much of an opportunity to establish a credit history, who is underserved by the existing system, but has the financial ability to take on debt and repay it now has an option

HyperTrader
18:51:1

A fairly new bank account would be out of luck in this scenario

Joseph
18:51:40

This is true. I think the requirement is the account has to be at least 6 months old

HyperTrader
18:53:2

Where does the crypto come into play?

Joseph
18:57:13

A couple ways

Joseph
19:0:0

First, is putting a number to the risk via smart contracts. This not only allows them to track loan events (disbursement date, amount, terms, on-time payments, late payments, and defaults), and have a custom-designed number to look at to make lending decisions, but since it will be hosted on a public blockchain other lenders and other products can take advantage of the data

Joseph
19:0:46

Second, they're looking at was to collateralize these loans with AION in the future, similar to MakerDAO

Mitja
19:1:52

Hey@bigb4everthe rewards page does not refresh or something...it doesn't show correctly

BigB - SmartStake.io
19:3:5

Hi Mitja. Is the issue still present? There was an issue till few mins ago.

HyperTrader
19:4:49

Ahh I see. Thank you

HyperTrader
19:6:53

They should expand the loans beyond gig workers

HyperTrader
19:7:10

Expand into a greater market

Joseph
19:9:44

It's possible. The gig/freelance economy is probably an ideal place to start though. There are statistics out there that suggest that 35% of workers make money through gig/freelance work already, and that number is expected to grow in the coming years. Given the fact that this group is underserved by the current banking/finance system as well, they're an ideal target audience

Joseph
19:11:48

They will want to get to know this audience and the platforms they work through intimately to perfect product market fit

HyperTrader
19:14:36

Good place to start, agreed

HyperTrader
19:19:7

So moves is s proprietary firm building on top of AION, right?@a_toad_a_so

Anonymouse joined the group
Ziyad Al-Agla
19:21:21

12

Ziyad Al-Agla
19:21:28

14

Ziyad Al-Agla
19:21:52

hello, is there a comparison between aion and cosmos-ibc somewhere?

Joseph
19:22:10

Not sure what you mean by proprietary firm. They're a registered Canadian company. But yes, their final design will depend on The OAN main net for the security of the data and transactions. In particular, the Java smart contracts, metatransactions, and hybrid POW/POS security you can't find elsewhere.

Joseph
19:23:35

AFAIK there's been several EIPs for meta transactions pending for Ethereum for months, but it's still not implemented and seemingly hasn't been prioritized. Also unclear when they will introduce staking. And of course, they don't have a Java VM

Joseph
19:24:53

In my mind they're very different protocols, not much sense in comparing them. Apples and oranges.

Joseph
19:25:38

But a great place to learn more about The OAN is the Reddit wiki:reddit.com/r/AionNetwork/Wiki

HyperTrader
19:47:36

Gotcha, that clears it up. Thank you

Ziyad Al-Agla
19:54:48

the whitepaper is describing a consensus mechanism and says nothing about cross chain cmmunication

Joseph
19:56:0

The white paper is from almost 3 years ago. I'd recommend the wiki for more current info. Cross-chain communication is not a priority right now.

Ziyad Al-Agla
20:3:33

is there a description/documentation on how it's going to be accomplished?

Joseph
20:3:59

How what's going to be accomplished?

Ziyad Al-Agla
20:6:18

cross chain communication

Anonymouse joined the group
Guillaume
20:6:43

6

Joseph
20:11:6

I believe I just said that's not a current priority and not in active development. The OAN's focus right now is on mainstream adoption.
If you're interested in what they've accomplished in the past, they used a token bride to facilitate their token swap from Ethereum to The OAN mainnet a couple years ago:github.com/aionnetwork/token_bridgeAnd they also published code for two-way arbitrary data transfer:github.com/aionnetwork/transwarp_conduitBut they have been focused on other oriorities since then. Namely, implementing a Java-compliant virtual machine (aion.theoan.com/blog/aion-virtual-machine-avm-why-java-and-the-jvm), hybrid POW/POS consensus (aion.theoan.com/blog/unity-consensus-zero-to-hero), and now building a blockchain-based application for non-crypto consumer users (getMovesApp.com)

Joseph
20:13:18

They've moved past tech for the sake of tech to a more problem-focused mindset

And how do you see things work out with other development by third-partys...Vivopago, "infamous Apollo

Joseph
20:20:31

I'm optimistic. Matt said Velocia, VivoPago, and BulletID are still in active development in the last AMA:youtu.be/wDA9Ee8rg_Y?t=1189But you also have to realize that all of them are third-party entities that have their own funding, resources, and timelines independent of what's going on internally with The OAN. The blockchain infrastructure is there to be used, but it's up to each of them to build a successful business on top of it. It's not a storefront landowner's responsibility to ensure that a business that leases space there has a good business model.

Joseph
20:22:50

He acknowledged that hasn't heard from MetaMe and Metalyfe in a while, I personally don't know what they're up to.

I agree completely. I just hope that some good projects do come through...And some so called open app

Mitja
20:26:0

I would imagine that some examples will be developed

Joseph
20:29:10

Sure. They're about 40 days in from what I understand

Chinedu Paul
20:31:42

5

Joseph
20:50:57

/help

Joseph
20:51:43

/viewConfig@shieldy_bot

Joseph
20:53:51

/config

Joseph
20:54:46

/settings

Anonymouse joined the group
Joseph
21:14:55

/start@MissRose_bot

Joseph
21:15:58

/addblacklist“*.exe”

Joseph
21:17:3

/welcomeoff

Joseph
21:17:19

/goodbyeoff

Arirlle | WAX.io
22:23:36

14

Joseph
22:23:59

/reportson

Joseph
22:24:44

/admincache

Anonymouse joined the group
Damian 🔥
23:49:47

guys does anyone have Aion? I buy them privately at a higher price than the market because I am a minor and my exchange does not make me buy them and I believe in the potential of this currency!

Anonymouse joined the group
Nic V
2:36:7

11

Satya
3:31:42

Joseph, aion stake bot is not maintained by me. I am not sure who is the owner.

Joseph
3:35:6

My mistake, thanks