Mercurial Finance AMA Recap
Mercurial Finance is a dynamic vault for stable assets on Solana, focused on low slippage swaps and maximizing capital utilization.
Today we have Ming Ng as Co-Lead of Mercurial Finance joining us to answer our questions for the next hour.
I am Ming Ng. I am the Co-Lead of Mercurial Finance
I have been in crypto for quite a few years by now.
Over the last few years, i worked as a strategic adviser to projects like Kyber, Instadapp, Blockfolio.
Question from the CryptoRank team
#1. Could you please tell us more about yourself and your experiences?
Ming Ng : – Yeah sure. I was on the founding team of WBTC and Handshake. So have had quite a broad range of experiences across DeFi and Crypto in general.
#2. Can you tell us about Mercurial Finance? What problems do you solve, both in the space and for the community?
Ming Ng : – Yeah. So for mercurial finance, our goal is to become the liquidity infrastructure for stable assets on Solana, and help to maximize the utilization of capital, particularly with stable assets. So the first system we are designing to achieve this aim is what we call dynamic vaults for stable swaps. As we all know, in most swap systems, capital is just parked there, fees are constant, and slippage is high. We think capital utilization is very low, and we are designing dynamic vaults with 3 key innovations:
1) Dynamic fees that leverage market conditions to improve LP profits (unlike static fees)
2) Flexible allocation to external platforms like lending protocols to earn additional interest and yield (like unused capital)
3) Pricing curves that cater not only to pegged token sets, but also token sets with high correlation, like forex pairs
It is in the key design plans laid out in our litepaper. It will take time to be fully completed, but we have a great team!
#3. Could you shortly describe the milestones Mercurial Finance have achieved, and about your upcoming plans?
Ming Ng : – So far we have:
– Completed the litepaper and key architecture
– DId a highly successful IEOs on FTX and Gate
– Internal devnet with Solana’s first mutli token pool system completed
– IDO/Listing on a few major exchanges
– testnet up next week
– mainnet and liquidity mining starting in June
– build out the fully vision of dynamic vaults along with the growth of the Solana ecosystem
– look to implement some key features to help us become the key stable infra for Solana, for example, dedicated stable assets
Long-term vision is a different story! :))
Questions from Telegram
#1. Without proper marketing and capital infusion, the project dies, how do you convince us Mercurial have adequate marketing power and capital to push this project to the top project?
DeFi is great. But for DeFi, the gas fee is crazy high on Ethereum. So, any plan to move on BSC or other layer-2 solution?
Ming Ng : – Mercurial is a Solana project, gas fees, and txn costs are extremely low 🙂
#2. Many projects gets abandoned due to low fund and weak experienced team , what are the strengths and weakness of your project?
Ming Ng : – We are sufficiently well funded for many years, and I believe that together, we have one of the best teams in DeFi.
#3. Can you share about your token utility? What is the use of your token in your ecosystem? Do u have farm or stake feature?
Ming Ng : – Mercurial Protocol is designed to have a wide range of mechanisms for accruing value to MER holders.
– Fees from swap
– Commission from yield farms
– Collateral for synthetic stables
The DAO will decide key decisions and parameters for the vaults. These include:
– Base fees and commissions: From the swap and vault operations
– Usage of the fees: Whether the fees will be burnt or distributed
– Deployment destinations: Where capital can be deployed to
– Approve yield programs: Approve the yield programs that can access vault capital
– Max loan to liquidity ratio: The maximum amount of capital that can be externally deployed per vault
#4. Currently, most investors are just looking for more gains, but ignore the long-term benefits of crypto. So what would you tell them about why they should buy and hold your token/coin over the long term?
Ming Ng : – Long term cause 3Ss ->
– Solana is here to stay
– stables are forever
– sharp team (not me, the others)