Gate.io AMA with BrightPool Finance-Trade Smarter with AI Rewards

Time: Mar 29th, 2024, 09:30 AM UTC
Gate.io hosted an AMA (Ask-Me-Anything) session with Lucas Kobus,Pool Master of BrightPool Finance in the Gate.io Exchange Community.
Official Website: https://brightpool.finance/
Twitter: https://twitter.com/BrightpoolX
Follow BrightPool Finance on Telegram and Twitter

Q1: Can you please introduce yourself to community members?

Lucas: Of course. I am a Pool Master at Brightpool Finance. A few words about myself. I have been in the space since 2018. I came across blockchain technology while working at the Chartered Institute of Management Accountants. I was responsible for promoting blockchain to CFOs of global corporations. Later, I was head of business development at BTC mining company. In our top moment, we had 10EX mining power. In 2021 I met Tom Piwonski. He explained to me the vision of Brightpool and it hooked me totally.
At BP I am responsible for business development and business models.

Q2: Please tell us a little bit more about your platform and its unique selling point?

Lucas: Brightpool Finance (BP) is a decentralized trading platform that pays users for placing orders. We’ve done limit orders with yield and onboarded AI to calculate orders’ rewards with the use of the Black-Scholes model.

What is really great is that you have 0% fees for limit orders and in the future, swaps without liquidity providers and the lowest fee (<0.1%).

We give traders new possibilities and take their experience with trading to a new level.

Q3: What is a key differentiator of your product and other competitors in Web3?

Lucas: At Brightpool you can place orders that are almost like limit orders - the only difference is that you lock your tokens for some time, like 1 hour, 1 day, 1 week - you choose and after locking it you get paid with BRIX tokens as a reward for placing an order.

Let me give you an example. ETH trades at Gate.io at 3524 USD, you want to sell 1 ETH for 3600 USD and you want your order to be settled tomorrow (1 day time frame). You place that order and immediately after locking 1 ETH to Brightpool, you get paid with BRIX tokens that can be worth around 20-30 USD. It is an upfront payment,then you wait 1 day. And next day there are two scenarios:

1. ETH price is lower than 3600 USD - in that case you receive your 1 ETH and that’s it
2. ETH price is higher than 3600 USD. For example, 3630 USD
   In that case your order is settled and you receive what you requested - 3600 USD.
   That 30 USD difference is Brightpool’s revenue (that will later be used for buybacks).
   So you sold 1 ETH at your price and you received BRIX tokens as well.

You did double profit!

Moreover, Brightpool doesn’t need liquidity providers. We use external liquidity from other DEXes,and the token has support from revenue and buyback - we will come back to that later.

Q4: Please tell us a little bit about your token. Its utility, tokenomics and why should we hold it?

Lucas: Let me start from the fact that BRI was listed on Gate.io yesterday and right now it is trading on humble x4 from listing price, that imho looks like a good entry point. But,coming back to its utilities. First of all, BRI is a governance token of Brightpool Finance - this is very important as there will be a lot to govern. Community will be able to decide which tokens should be listed. Brightpool will do BRI buyback from platform’s revenue,BRI total supply is 67M and we are going to do buybacks and burn heading to the total amount of BRI at 1024. So the token is DEFLATIONARY.

Q5: How does your platform and token lead to revenue generation for you?

Lucas: The revenue is generated from order settlement. Orders are settled when the sell price is lower than the current spot price and when the buy price is higher than the current spot price.

In other words. You sell the 1 ETH for 3600 USD and during settlement, the price is 3650 USD. The 50 USD difference is Brightpool’s revenue.

You buy 1 ETH at 3500 USD and during settlement, the price is 3450 USD. The 50 USD difference is Brightpool’s revenue.

Please remember that you receive an additional reward for placing the order that compensates you for the price difference.

Q6: Can you share more about your plans and roadmap?

Lucas: There is a lot going on. Let me list it point by point:

1. Right now, users can still join our demo competition, take part in the Zealy campaign and get airdrops. It will be live until Brightpool is launched.
2. Next week, we will have another CEX listing. Which? Surprise;stay tuned
3. Brightpool’s launch will happen in April. It will be massive. First traders will receive the highest rewards. So stay tuned.
4. With the launch of the platform trading competitions will start, so you will have an opportunity to get fantastic rewards.
5. We will list new trading pairs. The next listed token will be… I will give you a little clue. One of the most famous coins in the world;
6. Partnerships. Just yesterday we announced partnerships with PAAL AI and new ones are coming soon.
7. Community integrations. New trading communities will join Brightpool very soon.
8. New pools and new chains - that will happen in 2024.