On 15th January 2021, Katalyo conducted an AMA in the Whale Blockchain Enthusiast. Our guest is Ivica Ljubicic, Co-founder and CEO of Katalyo
Lots of questions as usual from the Community about Katalyo progress. The Katalyo team took part in a very interesting AMA session which included Project introduction, Questions from twitter, and a live AMA session with the Whale Blockchain Enthusiast community. If you missed the AMA in person, read this recap for a deeper insight into Katalyo.
Let’s take a look at the most interesting points of our conversation.
🐳 Segment 1: Project introduction
can you introduce yourself to our community?
Ivica Ljubicic: I’m Ivica the co-founder and CEO of Katalyo. I have 20+ years of experience in various roles from dev to management roles.
I first gained interest in blockchain in late 2010 when I first heard about this new system called Bitcoin. I wanted to try it out and for a while I ran a BTC node.
Yes, I’ve managed to lose a smaller amount of BTC I mined at that time. To be honest I didn’t recognize the full potential and how groundbreaking and disruptive blockchain technology really is so I turned to other things after a couple of months.
Moving forward to late 2016. as blockchain and BTC started to gain more and more traction I turned my focus to it once again. At the time the tech was really not accessible to the average people and there was a huge barrier to entry and in my mind this was a huge problem for adoption of the blockchain technology.
Things obviously changed dramatically especially on the consumer side however it’s still extremely difficult to build blockchain powered applications. This is where no-code comes into the picture and how idea for Katalyo was born. During 2019 I’ve assembled a team of people that shared my vision and we started working.
Can you share a little about Katalyo as well as What products or services does Katalyo offer to investors or users?
Ivica Ljubicic: Katalyo is a cross-chain no-code protocol and a platform for building applications. We’re building the tools that will empower people and organisations to build blockchain powered applications without writing any code.
Katalyo is a hybrid platform, meaning it has features for building both centralized and decentralized features which enables building of end-to-end solutions.
For example you’ll be able to create token (both fungible and non fungible), execute different smart contracts as a part of workflow but also build a web based front end like forms for data capturing, etc.
In a nutshell a fully functional web application can be built from scratch.
Can you explain Tokenomics Katalyo (KTLYO)? And are there any long-term holder benefits?
Ivica Ljubicic: KTLYO token is a utility token and it’s purpose is to provide access to the platform services and drive platform adoption.
The true value of the token will come from demand for the services available on the platform. If there’s a demand for the services there will be a demand for the token as well.
We’re constantly looking at different options for making KTLYO more attractive like staking for example but there are pros and cons. Down the line we want people to use and spend KTLYO because this will mean that there’s a demand for using the platform services.
What sets Katalyo apart from other DeFi projects?
Ivica Ljubicic: First and foremost Katalyo is not only a DeFi project and that’s the first thing that sets us apart. Katalyo is not a simple fork like many of the DeFi projects out there. Katalyo is tool for building DeFi solutions and down the line we hope to see solutions built on Katalyo that we haven’t even envisaged.
With that being said a true differentiator is our no-code approach where we level the playing field and provide the tools for building blockchain powered applications to a dramatically larger group of people.
What achievements has Katalyo made so far? And what big plans will be done in the future?
Ivica Ljubicic: We’re building our platform for over a year now. We’re a revenue generating business and in December 2020 after a successful sale the KTLYO token is listed on several exchanges including Uniswap and Big.One with more listing coming soon. I can say that we’re well positioned to realize the vision we have for Katalyo during 2021 and beyond.
🐳Segment 2: Questions from the Twitter
Question from @Dhea930
Katalyo already working with some of the clients who are using your no-code product. But on the road map, you have stated that your public beta is in Q3 of 2021. If some of your clients are already using your product then why are you going to launch the beta after a long gap?
Ivica Ljubicic: We’re working with corporate clients which utilize our technology but not in a self-service mode. The platform is still not ready to operate fully in a public access self-service mode and there’s still some plumbing needed to make it ready.
For example one of our biggest use cases is a real estate tokenisation platform that we’re building for one our customers. A release schedule for this use case depends more on the customer then us.
With that being said the Q3 2021 is related to our cross-chain features i.e. Katalyo bridge.
Other functionality will be released continuously. For the first release we’re aiming at end of January but you can never be sure with SW development projects so we want commit to a date just yet. However we’re confident that during Q1 we’ll have a good number of features released.
Question from @semogaberkahXD
So far there are not many details about Katalyo. What additional services will you offer with this new DeFi model? Will I have to pay any kind of subscription to enjoy the new services? Will you be able to tell us more about it? Thank you!
Ivica Ljubicic: As mentioned in some of the prior questions to access the platform and consume the services of the platform KTLYO token will be required.
In Q1 and Q2 we’re focused on delivering the functionalities for creating tokens and NFTs, building workflows with smart contract integrations and managing immutable datasets and documents.
The beauty of it is that over time as people build different applications new and emerging business models will emerge that we’re not even aware of yet.
Question from @y1sus_afp
What are the tools provided by the platform for smooth transfers across the Katalyo Bridge? How do you solve interoperability and sliding problems within your project to avoid delays and frozen or denied transactions?
Ivica Ljubicic: Katalyo bridge is still in design phase but it’s based on a Hash Timelock Contracts technology similar to Atomic Swaps but in our case we don’t have transfers of tokens between two wallets on two chains but burn and mint functions.
Katalyo bridge is a component that will orchestrate these activities on both chains making sure that tokens are successfully burned on one chain and minted on another.
Question from @ClubClub27
NFT for this year is growing rapidly and Katalyo has an NFT Marketplace. But does Katalyo plan to build his own NFT?
Ivica Ljubicic: We see a huge potential in NFTs in areas like gaming, collectibles, etc. But that is just tip of the iceberg. In our view NFTs will be used in many different scenarios. For example in real estate tokenization project we’re working on real estates are minted into NFTs.
The way we see it a lot of real world assets will migrate to blockchain in the form of NFTs. Adding NFTs that exist only in digital form there are no limits to how big NFTs can become.
As is the case with all other features on the platform people will be using Katalyo no-code tools to define, deploy and mint NFTs without coding the smart contracts directly.
🐳Segment 3 : Free Asking / Live Questions
Telegram User: Where does the project name come from? What does it mean for you and why did you choose that name for your project?
Ivica Ljubicic: It comes from greek and it’s a root of a word catalyst. We want to be the catalys for blockchain adoption
Telegram User: Stacking, Liquidity mining, Yield agriculture has become a very popular concept and a strategy for DeFi projects these days, does $KTLYO have a similar plan to encourage #KTLYO adoption?
Ivica Ljubicic: Katalyo is a platform for building applications so we do plan to provide various features to create such solutions. We’ll be starting with staking
Telegram User: Totally understandable and a great innovative way for building these platforms. What is the reason Katalyo decided to launch a coin?
Ivica Ljubicic: The main reason is our cross-chain approach where it would be very difficult make it work by depending on a native token of each chain
Telegram User: Can you tell me the ways to earn NTFs (erc-721 tokens? In Kalayo?
Ivica Ljubicic: Katalyo is for building NFTs not earning
Telegram User: How does KATALYO solve the problem of high network fees like those of the Ethereum network?
Ivica Ljubicic: This where cross-chain approach comes in. There are much cheaper chains out there. That’s one of the reasons we support Telos where you can move around one satoshi all day long almost fo free
Telegram User: Token burning is beneficial for any project, as it controls the amount of token circulation and provides greater incentives to investors. Does your $KTLYO Great you project have plans for burning tokens in the future?
Ivica Ljubicic: 85% of tokens are locked for up to 4 years. We’ll see if burning will be useful for the project and if we together with our community come to this conclusion we’ll burn tokens in the future
Thank you for answering all questions and thank you also for introducing the Katalyo to our community. Before ending AMA, is there anything to say to the Whale Blockchain Enthusiast community. Before I opened the chat again. 🐳
Ivica Ljubicic: It was my pleasure to be here. Some great questions were asked. If you have any other questions feel free to ask in our group and if we know we’ll be happy to answer it. Thanks again to the WBE community! Stay safe!
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🐳 More information on Katalyo:
🔸Telegram ANN: https://t.me/katalyo_ann
🔸Lite paper: https://defi.katalyo.com/litepaper