Comment on page
At Tashi, we are deeply committed to our community, and addressing your inquiries is our top priority. Your questions, our answers – fostering a strong connection.
Tashi is a unique non-custodial liquidity market tailored for Evmos, aiming to provide easy access to lending and borrowing opportunities for a diverse range of users, from experienced DeFi enthusiasts to newcomers in the crypto world. Our mission is to empower individuals with financial control and holistic well-being while offering perks like loan and liquidation rebates to reward our staked users and foster market stability. Tashi stands out with its Evmos-native lending protocol, audited smart contracts, well-informed risk parameters, and transparent, professional team. We are dedicated to contributing actively to the growth and prosperity of our community.
Tashi stands apart from other lending protocols, embracing competitive advantages that emphasize long-term stability, utility, and value. Our integrated tokenomics prioritize the community, offering staking rewards and rebates. We place utmost importance on the security of user funds, conducting third-party audits and market surveillance with Watchpug and Chaos Labs. To comply with regulations, Tashi restricts access for US users through geoblocking and implements a KYC process to access the Tashi Advantage. Our commitment to transparency and accountability sets us apart, fostering trust and personal connections with our users.
Tashi leverages Rome Blockchain's innovative technology and previous experience in deploying lending protocols, integrating concepts from various platforms to create a distinctive protocol specifically catered to EVMOS and COSMOS users. The underlying contracts were modeled off Compound, but have been through multiple iterations since that time.
Each contract (EVMOS or ATOM) will be funded with a specific amount of TASHI tokens, totaling up to 2.5% of the token supply. The block rewards in the Genesis Pools will be exclusively in esTASHI tokens, providing participants with an opportunity to earn rewards in the form of the protocol's native token.
Which parameters are you going to include on Genesis deposits/borrows? (max LTV, liquidations LTV, liquidations discounts, and interest rate parameters)
Genesis Pools have no borrows, so Tashi is not concerned about liquidations, discounts, or interest rates. We will adjust emissions to keep the genesis pool yield attractive but not be too inflationary if we do not see the expected support. Max LTV, borrow caps, liquidations, and associated modeling and decisions are led by chaos labs and are something that we do on a block-by-block oversight basis, and adjustments are made weekly.
Yes, there will be three Tashi tokens:
- 1.$TASHI is the liquid version, exchangeable on DEX’s and CEX’s.
- 2.esTASHI (escrowed Tashi), will be used for rewards and rebates participation and distribution, and for future governance.
- 3.xTASHI carries the same function as esTASHI, but further allows participation in the Tashi Advantage, the rewards generation mechanism within the Tashi Protocol.
Completing the KYC process through Quadrata enables users to be eligible for the Tashi Advantage. The Tashi Advantage is built for xTASHI, allowing them to earn rewards associated with the protocol. Also, please follow our discord and telegram channels for Snapshot updates.
How does Tashi ensure user privacy and compliance with regulations when implementing the optional KYC process for converting esTASHI to xTASHI?
Tashi geo-blocks certain jurisdictions and implements the optional KYC process to avoid sanctioned countries and mitigate potential risks due to regulatory uncertainties. To protect the community and protocol from government fines, Tashi partners with Quadrata, a GDPR-compliant company that encrypts user data. No personal data is stored on-chain. Quadrata provides an NFT with NPII during the KYC process, which is checked by Tashi smart contracts to determine eligibility for accessing the Tashi Advantage. Other features of Tashi, such as depositing, taking a loan, or accessing the Tashi Staking Program discounts, do not require KYC checks.
Quadrata passports are issued per blockchain, therefore completing the KYC through Tashi would provide you with a passport valid for Evmos. These will be available to mint at https://www.orbitmarket.io/ . Quadrata NFTs are nontransferable, as they are associated with the wallet used to create them. They are issued as a representation of the KYC information. It is to be noted that specific information is not shared with the protocols using Quadrata to query eligibility. Quadrata implements a points system based on each answer, and the protocol sets a parameter of how many points one must have to be eligible for use, simply allowing or disallowing the user to participate.
What is the TASHI collaboration with Chaos Labs and how does this partnership help to manage risk in the ecosystem?
Tashi places great emphasis on risk management, fostering a collaborative relationship with the Chaos Labs team to deliver one of the most cutting-edge risk management solutions available in the market. Employing extensive data analysis, Tashi assesses a wide range of quantitative and qualitative data points. These valuable inputs play a crucial role in determining collateral factors, borrowing caps, and reserve factors for each market on Tashi's platform. Furthermore, Tashi conducts thorough evaluations of high liquidation scenarios under different market conditions, ensuring the Evmos ecosystem maintains sufficient liquidity.
To maintain the ecosystem's stability, Tashi remains agile, adjusting borrow amounts when necessary. Notably, every asset pool under consideration must pass the ultimate approval of Chaos Labs. Beyond the partnership with Chaos Labs, Tashi is bolstered by several other alliances dedicated to protecting its users and platform integrity. Watchpug conducts audits to ensure robust security measures, while an internal RBL auditor diligently scrutinizes the platform's operations. Moreover, Tashi reinforces its defenses through an extensive bug bounty program in collaboration with Immunefi. These combined efforts underscore Tashi's unwavering commitment to providing a secure and reliable ecosystem for its users.
How are you planning to mitigate risks for shortfall events and illiquid events? Is there any plan for a “safety fund”?
Safety modules tend not to be effective as they only provide insurance when the native protocol token's value reaches a specific threshold, typically above 1B. Past attempts in other ecosystems have shown this approach to be impractical. To manage risks, we rely on top-notch risk vendors who hold the final authority in assessing and making risk-related decisions. Even though this can be expensive, it remains the best practice we currently follow.
Chaos Labs meticulously evaluates the introduction of any new tokens proposed for implementation on Tashi, exercising their full discretion in the process. They are known for their support of various other platforms such as Venus, AAVE, Liquity, DYDX, and Uniswap. To ensure a safe and robust Defi ecosystem, they emphasize the importance of sufficient liquidity and high trading volumes on decentralized exchanges (DEX) and centralized exchanges (CEX), going beyond the usual risk mitigation measures. However, they refrain from supporting lesser-known assets in the short term, and if they choose to do so eventually, strict limitations will be imposed on collateralization and borrowing capacities. Tashi's primary principle is prioritizing safety when nurturing the Evmos DeFi ecosystem.
Tashi fully embraces diversity and envisions launching in multiple languages in the near future. Presently, we offer comprehensive protocol videos in Turkish, Hindi, Japanese, and Portuguese, effectively explaining Tashi's functionalities.
“Evmos is a Proof-of-stake blockchain that is scalable, has a high throughput, and is fully compatible and interoperable with Ethereum. It was built with the Cosmos SDK, which runs on top of the Tendermint Core consensus engine.” More information here.
Tashi Finance has chosen to be a part of the Evmos ecosystem because it offers a scalable and high-performance blockchain solution that is fully compatible and interoperable with Ethereum, while also serving as the EVM gateway to the Cosmos ecosystem. The platform is built using the Cosmos SDK and runs on the Tendermint Core consensus engine, allowing for quick and secure transactions with fast finality. Evmos provides the ability to run Ethereum as a Cosmos application-specific blockchain, enabling developers to take advantage of the robust features of Ethereum while benefiting from Tendermint's Proof-of-Stake implementation. In addition, Evmos offers horizontal scalability through Inter-Blockchain Communication Protocol (IBC), ensuring a seamless exchange of value within the Cosmos ecosystem. Tashi Finance has leveraged the best of both worlds, as Evmos implements Tendermint Core's Application Blockchain Interface and utilizes existing Ethereum ecosystem tooling and software, making it easy for developers to deploy smart contracts and interact with the rest of the Cosmos ecosystem. With its fast transaction speeds, high-throughput, and strong security measures, Tashi Finance is confident in the power and potential of the Evmos ecosystem.
The addition of borrowing and lending functionalities to Evmos can have several significant impacts on the DeFi ecosystem. Firstly, it can attract more liquidity to the DeFi space as users can lend their assets and earn interest, while others can borrow these assets for various purposes. This diversification of services leads to a broader range of financial products, enhancing capital efficiency and optimizing the utilization of assets. It offers opportunities for greater interoperability and financial inclusion, empowering users to participate in global financial markets.
Rome Blockchain Labs is a renowned private blockchain development firm with a global presence. Their expertise lies in successfully launching and managing cutting-edge DeFi and blockchain protocols. RBL has been instrumental in developing the technology powering various industry-leading platforms like BENQI, Moonwell, and the sAVAX Liquid Staking system. RBL Co-Founder, JD Gagnon, is actively supporting and advising Tashi during its launch and go-to-market strategy. For detailed information about RBL and its services, please visit their official website at https://romeblockchain.com/.
Rome Blockchain Lab is the technical team and launch partner behind other leading protocols such as BENQI, Moonwell, and the sAVAX liquid staking system. They also produced Rome Terminal, a DeFi dashboard for the most efficient personal trading, investment, and analysis. https://romeblockchain.com/rome-terminal
The testnet serves a crucial role in active participation and fostering growth. As an incentive for all users, Testnet tokens are distributed, encouraging them to explore the dApp before its official launch. This approach facilitates a deeper comprehension of Tashi's functionalities. The extent of your involvement with the Testnet directly correlates with the potential rewards and personal financial growth you can achieve. Moreover, the testnet also plays a crucial role in identifying and addressing any potential discomforts or shortcomings within the protocol before its full launch. By subjecting the system to real-world usage and user feedback, we can detect and rectify any issues that may arise, ensuring a smoother and more robust experience for all users once the protocol is officially deployed. This iterative process of testing and refining helps us create a stable and reliable platform that meets the needs and expectations of our community, fostering confidence in Tashi's capabilities and enhancing its overall success in the long run.
In the testnet environment, users have the opportunity to safely explore and understand the process of supplying and borrowing assets with no actual risk involved. They can also familiarize themselves with enabling their assets as collateral, grasp the calculation of the collateral factor, and learn how to repay their borrowed assets. After successfully supplying assets on the testnet, users can access the claims page to observe how their supplied assets are generating interest.
Liquidations encompass the process of selling a borrower's collateral assets if their value falls below a predetermined threshold. This safeguards lenders, ensuring they are fully repaid and protected against losses arising from borrower defaults. The funds obtained through the liquidation auction are utilized to settle the outstanding debt, with any surplus being returned to the borrower.
Initially, RBL will be in charge of managing liquidations due to the inherent risk associated with a low liquidity ecosystem. As we gain confidence in the protection and long-term viability of the program, we will gradually onboard and whitelist additional liquidators, before completely decentralizing the process.
In DeFi, a DAO stands for a Decentralized Autonomous Organization. It is a type of organization that operates without a central authority and is governed by a set of smart contracts and rules implemented on a blockchain. The decision-making processes and governance of a DAO are controlled by its members or token holders, who participate in voting and propose changes or actions within the organization.
Tashi recognizes the importance of maintaining a stable and reliable protocol, and therefore the team has prioritized balancing the needs of the platform while ensuring it is in impeccable working order before becoming a DAO. Addressing any vulnerabilities, fine-tuning the governance mechanisms, and enhancing the security measures to foster trust and confidence within the community, are top priorities. Only after these critical steps are completed will Tashi pass the protocol's control over to the DAO.
Which partnerships is Tashi currently engaged in, and how do these collaborations contribute to its ecosystem and growth?
As a united community on the Evmos blockchain, our primary focus is to establish the safest environment for users to participate in Defi. We are grateful for the opportunity to leverage our existing relationships to forge a promising future on Evmos, where we can confidently construct a space we can be proud of.
- Rome Blockchain Labs (RBL) is a renowned private blockchain development firm with a global presence. Their expertise lies in successfully launching and managing cutting-edge DeFi and blockchain protocols. RBL has been instrumental in developing the technology powering various industry-leading platforms like BENQI, Moonwell, and the sAVAX Liquid Staking system. RBL Co-Founder, JD Gagnon, is actively supporting and advising Tashi during its launch and go-to-market strategy. For detailed information about RBL and its services, please visit their official website at https://romeblockchain.com/.
- Wormhole is a cross-chain messaging platform that covers a wide range of use cases that makes going cross-chain simple for tokens, NFTs, apps, and other messaging applications. Harnessing the power of generic messaging and a single SDK, the Wormhole interoperability protocol makes cross-chain movement more feature-rich than ever.https://wormhole.com/
- Pyth is a prominent oracle that disseminates financial market data across various blockchains. Their extensive range of market data is sourced from over 80 reputable first-party publishers, encompassing major exchanges and market-making firms globally. Pyth delivers price feeds for diverse asset classes, including US equities, commodities, and cryptocurrencies. Each price feed provides a resilient aggregate of publisher prices that updates multiple times per second. To access additional details, please visit their official website at https://pyth.network/.
- WatchPug is an accomplished team specializing in the meticulous auditing of smart contracts, driven by a mission to enhance the security, privacy, and usability of the existing DeFi landscape. Their expertise contributes to building a safer and more reliable ecosystem for decentralized finance. To explore further details, please visit their official website at https://www.watchpug.org/.
- Swing is the unified crypto solution for cross-chain liquidity and bridge aggregation. Connect your dApp to Swing and instantly access cross-chain liquidity from blockchains, bridges, and liquidity aggregators. Perform non-custodial token swaps and bridging for a wide range of crypto assets, any token to any token, irrespective of the underlying blockchain. https://swing.xyz/
- C14 builds next-generation payment ramps for Web3 businesses. The C14 widget allows any user in our coverage areas to easily KYC, store payment methods, and transact across partner blockchain ecosystems with a seamless, e-commerce-like payment flow. https://www.c14.money