AMA with Collateral

Nebo: Welcome Chris to our community! It’s great to have you here :)

Chris: Hi guys — sorry for the delay in joining. We have just finished off another AMA which went over time.

Great to be here!!

Nebo: Awesome! I’m sure you must be very busy so we won’t take much of your time.

Chris: Thanks for having you as part of the Collateral team.

Nebo: My pleasure :) Let’s start!

Can you introduce yourself and explain your role within Collateral?

Chris: Of course. I am Chris Longden the CEO and founder of Collateral

Nebo: Excellent, can you briefly explain what is Collateral and how it started?

Chris: Collateral is a new generation payment gateway built on the Polkadot network.

Collateral as a business has been developing over sometime now. I first got into the Crypto space back in 2017, however the majority of my working life has been on CEFI based payment systems and banking.

We founded Collateral following assisting a friend with a car purchase and from there the concept and business was born.

Nebo: Impressive. What are the products or services offered by Collateral?

Chris: The products are Collateral Pay, where you can use your Crypto as collateral to pay for goods and services, collateral loan — where you stake your stable coins to receive an attractive APY.

Collateral Govern- where Collatera governance token will be used to shape and form the direction of the Collateral Protocol.

Also on the day of the TGE you will be able too stake your collateral token to earn collateral governance tokens.

Additionally you will be provide liquidity through Uniswap and be rewarded with Collateral tokens.

Finally Collateral Merchants — where merchants and payment service providers can integrate the Collateral Protocol to offer our services worldwide.

I hope that covers your question.

Nebo: Interesting, I’m sure many will be willing to stake their tokens — can you share what will the APY be approximately?

Chris: The APY has not been confirmed exactly — however this will be confirmed and released before the TGE.

The new lightpaper will be released along with the rebrand at the same time.

Nebo: I see, do you also have any kind of Insurance (on funds) regarding the Loan service?

Chris: All collateral is secured in smart contracts by Moonbeam that have been three security audit firms.

Your funds are very safe, also as your community may have seen we have some of the biggest VCs onboard in the space so the due diligence and attention to detail has been second to none.

Nebo: Perfect!

Do you have competitors building something similar at the moment? And how do you differentiate from them?

Chris: There is no current competitor in the market. Nexo you users or subscribers may have seen. However the main point of difference as that Coll Pay our flagship offering offers point of sale transaction ability for both users and merchants alike.

Also the ability the leverage the Polkadot network will also bring speed and efficiency — which must be noted.

Nebo: Fully agreed.

Is TGE around the corner? What can we expect from Collateral in the near future? What are your plans?

Chris: TGE is very close by- please look out at the Collateral announcement channel and follow us on twitter to hear news first.

We are launching on Duckstarter and in final negotiations with another platform.

Nebo: Hype is building up very quickly!

Chris: Yes it is indeed — you were on the pulse!!

You did a great job in supporting us early. Not publicly known… but we are over 50 times over subscribed at the moment!!

Nebo: We’ve been following Collateral very closely. 😊 Wow!

Chris: Yep we have been blown away — I think its because people can relate to this and it solves a real world problem.

Nebo: Exactly! It feels like the best is yet to come! I’m sure the community has a lot of questions to ask so let’s have them!

Member 1: Hi. What is different from They have Almost the same products.

Chris: What product do have that you think we have that is similar ?

Member 2: How u find the future of Colla pay since mega companies like AMEX visa master cards adding crypto?

Chris: With COLL PAY you do not sell your crypto. AMEX and VISA if they enter the market with crypto payments you would have to sell your crypto and lose out on the future rise in crypto prices.

Member 3: Collateral is a sensational project, you know well that you will compete with the big names !! my question is why should I choose collateral to pay? do you have an ace up your sleeve? will you provide cashback? what can incentivize people to say “today I’ll use collateral to pay” ? thanks for your attention !! and good luck ! And sorry for my English.

Chris: We do not have any incentives, as they are unsustainable in the real world. There are no other products that you can use at point of sale that allow you to use your crypto as collateral and redeem back when you want.

Member 4: There seem to be a lot of contract interactions to conclude a payment with Collateral pay (locking, fund transfer, unlocking). How do you deal with the tx fees, are small transactions suitable for this type of payment?

Chris: This is why we use the Polkadot network with its low transaction fees and high tps allowing for smooth interaction for customers, that is quick and cheap.

Member 5: You put your crypto as collateral and you don't need to sell your crypto.

Chris: Correct.

Member 6: Could you briefly describe the top achievements and goals that you want to achieve in 2021 and what you want to do for the future?

Chris: We want to have a physical global base of Collateral merchants by the end of 2021 alongside all of the online merchants.

Chris: The future is to be as biggest crypto payment service provider.

Member 7: How do you plan to dominate the CeFi and DeFi using Polkadot ecosystem? With what additional features compared to competitors?

Chris: We are unaware of any competitors in the market with the same offering as ours.

Member 8: I didn’t see much about governance in your litepaper. Can you give some examples of what governance decisions COLLG token holders can make collectively?

Chris: You can put forward motions, decide on altcoins to be added to wallet to be used as collateral etc

Member 9: Aren’t CashTech providing the same digital token payment system, staking, lending and borrowing just like Collateral? I apologize if I’m wrong here

Chris: The CashTech system you have to spend your crypto, so effectively you do not have it anymore.

Member 10: Why are you eventually switching from ethereum to polkadot?

Chris: The Ethereum network charges are too high and too slow to be used in the real world environment.

Member 11: Can you elaborate on how the up to 60% APY is achieved?

Chris: It is achieved through mixed APY including native COLL token.

Member 12: I love the idea of collateral it is really amazing what you guys plan to achieve but may I know how will you guys plan to organise it with the government as we all know that the government/banks are against projects such as collateral and you guys will be taking away their business. How can investors like us be sure that this will be a project that will keep growing and not have any problem with the authorities ?

Chris: We make payments to merchants in FIAT and is legal in all jurisdictions.

Member 13: Is it mostly from farming?

Chris: We will be launching a product at TGE where you can stake your COLL tokens from day 1

Member 14: Is it possible to lose my money when using collateral save?

Chris: No as all loans are over collateralized and monitored by our price oracle.

Member 15: Will you also offer bigger loans, like for buying a house? What will be the amount of collateral in such case?

Chris: We will offer bigger loans, as long as you hold enough crypto as collateral you can borrow as much as you like.

Member 16: Will this be an all in one solution? So you can hold fiat in your wallet as well?

Chris: This is not a plan, you can hold tether

Member 17: Will collateral be competitive? I think Celsius wants 2x collateral for loan.

Chris: Collateral will be competitive. The more COLL tokens you hold the less you have to over collateralize your loan.

Member 18: Do you plan to rebrand your website and hire some of those NFT gurus designers. it will create way bigger exposure to new investors and users?

Chris: We are currently going through a rebrand

Member 19: Would be necessary for international use

Chris: Yes

Member 20: Also, are there plans on introducing credit/debit cards for everyday use?

also it is mentioned that — Revenue generated from merchants are distributed back to token holders.

so in other words, there will be a some sort of a cash back. How will it be split among holders? Will there be a ratio % for spend money with certain merchants and owned tokens? If I never spend anything ever, but hold tokens, will I still be receiving these extra tokens as a holder?

Chris: All token holders will receive rewards regardless of if they spend

Nebo: Alright that’s a wrap! Thanks to everyone who participated and special thanks to Chris from Collateral for answering our questions and being with us today.

Learn more about Collateral:

Also very important! Make sure you follow Collateral on Twitter and Announcement channel to stay updated with the rebrand + lightpaper + IDO dates:

Announcement channel:

We’ve had interesting questions today, the winners will be announced soon! 🎁


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