Our first-time community live show wonderful review

PIZZA team, Starteos, Token Pocket and IMEOS held a live sharing event on 10th September at 20:00pm. As the first live show, the lecturer from PIZZA team shared a lot of important information and ideas about this project, which makes the co-host Starteos can’t wait to share the wonderful moments with you.

Lecturer info.

Guan: Majored in Actuarial Science, a leader and start-up member of PIZZA project. Main responsibility is model building, products coordinating and marketing operation.

Shi Xiu: Product manager.

Event review

Hello everyone, I’m Guan from PIZZA team. It’s my great pleasure to introduce PIZZA to you before the live show starts. PIZZA is a decentralized financial project based on EOS platform. So far, the main product of this porjetc is USDE, an on-chain over-collateralized stable coin.

You can visit www.pizza.live and log in with Scatter, or log in Starteos wallet App and find PIZZA-USDE in its DApp section.

Now let’s start the Q & A process.

Q1. Why are there so many similar stable coin projects, do we really need it and what does it mean to the market?

In the first place, we need stable coin, no doubt. On the other hand, users and project founders who reside in different countries and areas or hold different believes and ideas, could definitely create various definitions and demands to a stable coin project. There are population and there will be variations. We are in a position that no one knows what the real answer is. We do need more stable coin projects to discover different possibilities in their own niches. It could be marketing efforts or general education to average users, or it also be an effort to establish a more comprehensive compliance framework. The compliance framework will not only improve the acceptance of block chain by the general public, but also provide experiences for future block chain projects and reduce the trial-and-error cost for future research.

A good analogy will be that we are in a war and there is solid defensive line in front of us. So what we need to do here is to breach the line at different points, and we need much more attackers to follow the team that breach the line, so we can crash it eventually. It is no doubt that Bitcoin was the very first attacker from the blockchain world that successfully created a breach point for all the followers, and then we have BitShare that created the idea of on-chain over-collateralized stable coin, and we have MakerDAO that follows BitShare, and now we have all the other over collateralized stable coins and DEFI projects. Actually, rather than consider all those stable coin projects as independent competitors that fight for the scarce resources, it’s more proper to see them as comrade — in — arms that share the same combat will.

Q2. What are the differences between PIZZA project and other on-chain collateralized stable coin projects?

If we compare PIZZA with MakerDAO, we will see that the main differences are derived from the differences between ETH and EOS. From users’ point of view, EOS is faster. MakerDAO has made great improvements such as xDai to increase transfer speed and lower the fee rate, however, EOS is still more smooth and user friendly. And in EOS we have things like REX. Most people consider REX as a DEFI paradigm on EOS, but I personally prefer to see it a tool provided by Blockone to help all the EOS DEFI projects to create positive cash flow on EOS collateral, smooth the delegated voting process, etc. And that is why we launched the REX Progressive Deposit Plan. At last, they have different community bases. The projects based on Ethereum already had a broad community and user base, while there is still a long way to go for EOS-based projects, we see an event greater responsibility for PIZZA to pick up with. And talking from the team’s perspective, what we can do now is to continuously observe, adjust, and then provide more updates and iterations on the products. Currently, the PIZZA team is developing several functional modules simultaneously, mainly focusing on improving customers engagement and token liquidity, and these modules will be gradually put into operation in the next 6 months.

Actually, there is no big differences between other EOS-based stable coins at the moment. However, it is worth mentioning that we airdropped 1% of the total amount of PIZZA to the whole EOS community on 1st June, and additionally we set a PIZZA collateralization rewards for early participants. Later we will make more attempts to increase the value flow within the system.

Q3. Why is the PIZZA Reward switched from collateral based to USDE based?

It’s because we are moving forward to next development stage of the system, and that creates different demands. At the very beginning, we hope to attract more users and EOS collateral to this system, so the PIZZA rewards was simply based on the amount of collateralized EOS from users. Later, we completed the airdrop, optimized the reward system and the liquidation system, and users already build up a basic understanding on how the system works, we we decide to move to next stage, try to create some more realistic collateralization entertainments. Actually, it is one way to educate users when the PIZZA rewards changed to be basing on the USDE issued. Because when users hope to use limited EOS to generate more USDE, they need to care about the expected gains, to find out what’s the best collateralization ratio and how to manage their positions. This process of user education is essential for the future expansion of the system.

Q4. The functions of PIZZA and USDE?

As the governance and utility token in the system, the integration and promotion of various modules in this system depend more or less on PIZZA token to create the flow of value. And USDE is a stable coin that 1:1 pegged to US dollar, the main reasons for most users to generate USDE in the past few months are:

1. To obtain the PIZZA reward.

2. Participate the financial product released by Starteos to get the 12% APR.

3. Participate in the force liquidation auction and buy EOS collateral at a lower price.

Collateral generation: https://pizza.live/generate

USDE financial project: Starteos wallet

Force Auction link: https://pizza.live/bid

Force Liquidation Mechanism: https://pizza.live/about/liquidation

In the future, USDE will continue to focus on store of value and media of exchange, the main topic is how to enhance the EOS to USDE trading pair. For example, there may be EOS/USDE flash exchange integrated on the PIZZA website, or directly associated with the decentralized exchange, or improve the fiat money entrance of USDE. The system is running smoothly at the moment, it’s a good timing to move things to next level.

Q5. What makes you think that now is a good timing? What’s your visions to the direction and future of the industry?

Timing, on one hand, refers to the way the system is running well, the development of the team, etc. On the other hand, refers to our confidence about the general environment. When the overall sentiment of the industry is low, it’s really hard to promise a good profit for the 3rd party participants such as market makers. However, with the fact that Bitcoin halving is coming next year, and more and more central banks are forced to choose negative interest rate, also technology advances are causing greater gaps between different groups of people globally, now we are more convinced that Bitcoin and cryptocurrency world will embrace a more bright future than it was in 2017. PIZZA project is so small that barely could be noticed just now, but we believe this is a chance that we can make the world a better place. When Mr. Li Ang, the founder of Starteos, decided to incubate this project, he said, “we all know that it will be difficult, but remember we are the constructor of this industry, not just average participants.” That’s it.

Q6. PIZZA did not open source, what do you think about decentralization and open source? How do you make users believe that their assets are safe?

It’s in part of our plan to build and operate an active open source community, but now for now. Our priority is to make sure the project has a nice foundation. The foundation has to be efficient enough for the future expansion. There has to be basic governance model. The good news is we already have a nice plan on this, let’s expect to see it in the beginning of next year. Talking about security and credibility, first of all, there are PIZZA token contract, USDE token contract, system collateralization contract, force liquidation contract and some other EOS addresses working as the middle account during transactions. We made system verification flow chart for these contracts and account addresses, all the on-chain information could be checked from the flow chart, as it’s directly connected to blockchain explorer. Besides, the core decisions such as contract upgrades, fund transactions in important addresses are managed with multisig by core members in different cities. Last but not the least, we also cooperate with third-party security teams to ensure the security and credibility of the system. Such as Slowmist Technology, EOSAuthority, etc.

Q7. Will you moon the token?

It depends on how you define moon the token.

If you mean hit and run, we don’t think it’s going to be profitable enough and it’s too embarrassing to do such thing.

And if you mean hype the price with marketing skills and market operations, technically we are not experts on that.

So, here is what we plan to do, there are several modules that we are developing to create positive cash flow for the system. Most of the profits of the system will be returned to the community in the form of PIZZA buybacks.

So, when you ask when will we moon the token, it depends on the actual growth of the system profit surplus.

The team itself has high expectations for the profitability and self-functioning of the system in the future, but to develop a sizable user group will still rely on the overall environment.

Let’s say, flowers in 2020 and fruits in 2021.

Q8. Will USDE be in other public chains in the future? Or will USDE be a full ecological stable coin?

We have these kinds of expectations and USDE itself has various possibilities; the diversification of collateral is definitely essential for the system. But currently, we are focusing on EOS related exploration and development. Focus is the key at the current stage.

Q9. Will USDE fluctuate like USDT in the future?

In fact, in terms of historical price data alone, USDT is very successful as a stable coin. The good liquidity of USDT does a good job of covering the potential risks of opacity and effectively helping the USDT to peg to its target. Although all the USDE is transparent, and the credibility will increase as the development of system and especially after opening the sources, however, there is still a long way to go for USDE. Improve models, liquidity, etc. But will USDE fluctuate as much as the USDT, the answer is simple:

Yes, it will. The price of a stable coin doesn’t have to be fixed.

Q10. It seems the logic of USDT and USDE are reversed, do you have some ideas about this?

So there is the thing. There are professional market makers that will collateralize EOS and generate USDE. Average users can just buy USDE from them or any other markets. In this way, there don’t seem to have too many differences between USDT and USDE.

Our first-time community live show ended at 21:00.

The high-energy output from the lecturer within one short hour not only let us deeply understand the PIZZA-SUDE project, but also made us understood the situation of the whole industry comprehensively and profoundly. Meanwhile, during this event we have also learned something about the development of the PIZZA team, including improvement of users’ engagement, token liquidity, focusing more on value storage and community governance, etc.

Looking forward the following development of PIZZA-USDE project, and also wish the project can develop as what Guan said: 2020 we start, and in 2021, we created a bright future.

2019年9月10日20:00，PIZZA团队联合Starteos、Token Pocket以及IMEOS共同举办了一期线上直播分享活动。作为线上直播首秀，PIZZA团队嘉宾主讲人的持续高能输出，让作为联合举办方之一的Starteos迫不及待的想要跟你分享昨天的精彩瞬间。

分 享 嘉 宾

官某： 精算专业，PIZZA项目初创成员与产品负责人，负责模型搭建，协调产品与市场运营进度。

时休： 产品负责人

精 彩 瞬 间 回 顾

大家好，我是来自PIZZA团队的官某，很高兴能够在直播开始之前为大家介绍PIZZA。PIZZA是EOS上的一个去中心化金融项目，目前的主要产品是一款链上超额质押型稳定币USDE。

想要了解更多，可以直接戳下方文章：
“Starteos”钱包App重磅首发PIZZA - USDE稳定币

下面让我正式进入直播问答环节。

Q1：那么多同质的稳定币，对市场有什么意义？

我认为诸多稳定币项目的出现，有效推进了整个产业的规范化发展。所以更多的项目实际上也意味着更全面的合规框架的建立。这大大提高了大众对区块链的接受度，也为以后的区块链项目提供宝贵经验，降低试错成本。我们说两军打仗，最重要的是打开一个突破口，这样后续部队才能从这个突破口鱼贯而入。比特币是区块链世界里的第一个突破者，然后有了像BITSHARE这样的项目。随着时间发展， BITSHARE又为MakerDAO打开了突破口，再后来MakerDAO又为其他质押型稳定币以及形形色色的DEFI项目打开突破口。所以与其把这批“同质的稳定币项目”看作竞争者，不如看成有着相同革命意志、共克时艰的战友。

Q2：PIZZA项目有哪些区别于其他链上质押型稳定币项目的地方？

与MakerDAO相比较，两者的区别很大程度上源自于ETH和EOS两条公链的差异。首先，EOS更快。虽然MakerDAO也通过xDai等方式优化转账速度和费率，但在整体流畅性上，EOS依旧更有优势。其次，关于REX。很多人把REX看成EOS上DEFI的典范，但我认为REX更像是Block.one提供的、服务于EOS上DEFI产品的一个工具。这也是我们前段时间集合开启REX渐进存入计划的原因。最后，社区基础不同。以太坊上的项目已经有了广泛的社区基础，而EOS上的稳定币项目面对的可能会是一个更严酷的寒冬。以团队角度上来说，现在我们能做的是持续地观察、调整，然后更多地在产品上做更新和迭代。目前PIZZA团队里正在同步进行数个功能模块的开发，主要都是集中在提高用户参与度和代币流动性上，这些模块在未来约半年的时间内会逐渐投入运行。

和其他 EOS上的稳定币上的区别的话，大家其实区别并不大，值得一提的可能就是我们6月1日时向EOS全网空投了PIZZA总量的1%，另外还设置了一个 PIZZA质押奖励作为对早期参与者的回馈。之后我们也会针对系统内的价值流动做更多的尝试。

Q3：PIZZA奖励从基于用户质押的EOS数量到基于USDE发行数量，为什么会有这样的改变呢？

这样的改变主要是由于对系统不同阶段的定义。最开始的时候我们希望吸引更多的用户和资金，因此PIZZA奖励基于用户质押的EOS数量。后来，我们完成了空投、优化了奖励系统和平仓系统，用户对整体运作也有了基础的认知，这给了我们开始下一阶段的尝试信心。将PIZZA奖励基于USDE发行量是一个教育用户的过程。因为用户会希望利用有限的EOS质押生成更多的USDE。这其中就包含了对预期收益的估算，对质押率的选择，对仓位的管理。这个自我学习的过程对未来真正地扩展USDE的用例是至关重要的。

Q4：USDE和PIZZA币的用处?

PIZZA币作为系统里的治理币和功能币，系统里的各种模块的整合和推进都多少依靠它来实现价值的流动。USDE是锚定美元的稳定币。过去几个月大部分用户生成USDE的动机有这么几个：

1、质押生成USDE获得PIZZA奖励；

2、将USDE存入由Starteos主理的USDE理财项目，获得12%的年化收益；

3、参与强平拍卖，以折扣价格买入强平的EOS质押物。

质押生成：https://pizza.live/generate

USDE理财：“Starteos”钱包App

强平拍卖入口：https://pizza.live/bid

强平机制：https://pizza.live/about/liquidation

下一步，USDE的功能会更多地涉及价值储藏和流通媒介的功能。为此，系统接下来的一个重要方向就是加强USDE和EOS之间的交易深度：未来可能会在官网接入EOS/USDE闪兑功能，可能关联去中心化交易所，也可能改良/拓宽USDE法币入口…这些我们都有在思考。现在系统已经运行得相当平稳了，就环境而言各方面的时机也在逐渐成熟。

Q5：“时机在逐渐成熟”的具体含义是什么？或者说你们眼里的行业方向和前景是怎么样的呢？

这个时机，一方面是指系统本身的运行流畅程度、团队的开发路径等，另一方面指的是我们对整体市场情况的信心。项目发展至今，刚好是经历了币价的至暗时刻，在这种环境下其实很难许诺市场一个好的利润空间。但随着明年是比特币减半的到来、全球经济的负利化的持续加深以及大数据环境下不同共识群体的认知割裂的加深，我们更确信比特币和加密货币世界会迎来一个远大于2017年的蓬勃空间。不知道大家有没有看《长安十二时辰》，PIZZA项目很像徐宾口中的造纸厂，乍一看似乎毫无新意。但就像Stareos的创始人李昂先生在决定孵化这个项目的时候就说的那样：“路肯定不好走，但要记得我们是这个行业的建造者，不是单纯的参与者。”大风起于青萍之末，我们相信它身后有一个大世界，一个我们正在建造的大世界。

Q6：PIZZA目前并没有开源，你们怎么看待代码开源与去中心化之间的关系？又怎么让用户相信他们的资金安全？

第一个问题，建立和运营一个活跃有效的开源技术社区虽然在我们的计划之内，但对于现阶段的PIZZA团队的效率与生产力来说还略显“奢侈”。我们必须先高效率的把基础打好，才有未来进一步拓展的可能性。更何况，在开源之前，初步的治理模型更需要建立。我们参考了几个EOS社区治理方案，最快会在明年初进行引入。针对安全问题，首先，系统主要有PIZZA代币合约、USDE代币合约、系统质押合约、质押物强平合约以及若干个EOS账户作为中转。这些合约和账户地址在官网有明细的关系图与链上信息跳转链接，系统内的每一笔转账都可以很高效率地查验。其次，系统的合约升级以及关键资产账户的转账权限由数个位处不同城市的核心成员共同多签管理。最后，我们也通过与第三方安全团队的合作来确保系统的安全可信，比如慢雾科技、EOSAuthority等。整体来说我们对安全方案的认真程度是在行业领先位置的。

Q7：你们会不会拉盘？

这要看怎么定义拉盘了。

我们不会一顿猛拉后拔腿就跑，一是这么做收益并不大；二是也丢不起那个人。

我们也不会持续拉盘，靠运营手段把币价拉出气势、拉出共识，这难度太大了，我们也没那个本事。

关于“拉盘”，系统更倾向于让币价的正向反馈推动系统的价值流动，因此系统的大部分利润在未来都将以PIZZA回购的方式回到社区。

所以要说什么时候拉盘，视系统利润盈余账户的实际增长情况而定。

团队本身对系统的盈利和自运转肯定是抱有很大期许的，但用户群体的培养还是要寄希望于整体环境。
放个卫星，2020拨云见日，2021大展宏图。

Q8：USDE有计划将来拓展到其它公链上去吗，有没有将USDE做为全生态稳定币的计划？

有这个展望和若干可能性的猜想，未来质押物的多样化也是一个必须的开发模块。
但就当前计划而言，我们还是重点围绕EOS进行相关开发和拓展。目前这个阶段专注是一件很重要的事情。

Q9：USDE以后会不会像USDT那样出现较大的波动？还是说稳定对应美元价值？

其实单就历史价格数据而言，USDT作为一个稳定币是很成功的。USDT的流动性很好地掩盖了不透明所带来的潜在风险，也有效地帮助USDT对美元进行正常的锚定。USDE虽然一切数据都在链上，未来随着项目发展还会进一步开源让可信度进一步提高，但相对于USDT优异的流动性，整个去中心化稳定币圈子在这方面还是有很长的路要去尝试。当然，单就“USDE以后会不会像USDT那样出现较大的波动？”这个问题而言，是很好回答的：
会。在波动中求平稳才是真平稳。

Q10：USDT与USDE逻辑好像是反过来的，这个有没有什么见解？

这个要分成两个层面。

关于质押EOS生成USDE未来更多的是面向职业的做市商或者资深参与者，普通用户可以单纯地通过币币交易或者法币交易来获得 USDE。

用法上不会和USDT有太大差别。

21:00，PIZZA团队首次社群直播活动圆满结束。

在这短暂的一小时中，PIZZA团队主讲人官某的持续高能输出，不仅让我们对PIZZA - USDE项目有了更深了解，也对整个行业态势建立了更全面深刻的认知。

与此同时，在互动过程中，我们也知道PIZZA团队未来的努力方向，包括提高用户参与度和代币流动性、USDE的功能会更多地涉及价值储藏和流通媒介的功能以及社区治理模型等等。

期待PIZZA - USDE项目的后续发展，也祝愿PIZZA - USDE项目能像今天的嘉宾官某所言：2020 拨云见日，2021 大展宏图。

Generate your USDE here: https://pizza.live/generate

Website: https://pizza.live/

E-mail: team@pizza.live

Telegram: https://t.me/PizzaUSDE

Twitter: https://twitter.com/usdeos

Medium: https://medium.com/@PIZZA.USDE