AMA RECAP — ORCHAI’S Q1 RECAP & VISION FOR 2024
On March 27, Orchai held an AMA on Telegram in which we talked about Orchai’s achievements in the first quarter, OCH listing event & 2024 Roadmap
We held an AMA: Orchai’s Q1 Recap & Vision For 2024 on Oraichain’s official Telegram channel on March 27 with the participation of Ms. Chewy & Mr. Tenas. They shared and discussed with the community the following topics:
👉 Orchai’s OCH listing event and the activities that took place around it.
👉 The milestones we have achieved in Q1 — statistics and products.
👉 Next direction with 2024 Roadmap, and Smart Wallet as the center.
Introduction Session
Ms. Chewy:
I think we should start this session by reintroducing Orchai, as there might be a lot of new members joining after the listing event, right?
Mr. Tenas:
Yeah, sure. Thanks for your reminder Chewy.
Orchai is a low-code Defi platform that provides multiple AI-powered protocols and features. We aim at the 2 ultimate goals:
Firstly, improving the management and investing strategy. With the key is Smart Wallet and its related functionalities: AI Combinator, Alert Hub, and Auto Trader
Secondly, to support users easier to access DeFi ecosystem, we provide Liquid staking — a restaking application and Money market that supports user lending and borrowing tokens.
Ms. Chewy:
Thanks Tenas, extremely easy to understand even for new users!
We also just listed our token not too long ago, right? I remember that we organized a lot of events in preparation, then congratulations for that. From pre-sale to bonding, as well as Airdrops and Giveaways.
Mr. Tenas:
Yes. The listing ran on 22nd last month. OCH was listed on OraiDEX & Uniswap — Two big dexes on Ethereum and Oraichain where orchai support for our application.
OCH token has for main utility: Co-Harvest, Reward, Payment and DAO governance.
Co-Harvest function started the first session, with 30% of revenue.
We have just released OCH staking, the first step for DAO Governance to make Orchai decentralized in the futures.
Also, reward and payment will be developed soon, to support our smart wallet in the future.
Ms. Chewy:
Those aren’t the only impressive numbers of Orchai’s first quarter this year, are they?
Mr. Tenas:
You know, it has been an explosive period for us. For instant, the TVL of Liquid staking and Money Market passed the marks of $4.2M and $1.3M respectively. We can not imagine this number at this time of last year.
Also, our airdrop program ran well, 800k xOCH has been claimed by about 30K Users. Very impressive number. By the way, the remaining tokens will be burned.
Ms. Chewy:
Besides listing, Orchai also does not forget to introduce new releases to enhance user experience in DeFi. Can you share with everyone what was announced in the first quarter of 2024?
Mr. Tenas:
Yeah, we had a lot of features this quarter. Firstly, in January, we improved the products that were previously released. Like Cross Liquid Staking ORAI was introduced to Ethereum alongside the existing BNB Chain.
Also, we introduced AI-powered Combinator’s Premade Recipes.
Secondly, we have also launched some products related to our tokens to build up utility for OCH. For example, we have co-harvest and OCH staking functions.
All of our information are available on our social channel and blog. For example, you can check the information of co-harvest functions, buy-back and burn OCH here.
Ms. Chewy:
But we can’t forget the core nature of Orchai — a DeFi Orchestrator powered by AI that offers solutions to increase user experience, can’t we? So can you share with our community Orchai’s development plan and strategic vision for 2024?
Mr. Tenas:
Yeah, for sure. The goal of Orchai is low-code defi platform where users can easily interact with multiple dApps on multiple chains in just one place, one transaction. Orchai aims to reduce time-consuming on apps, save gas fees and optimize ROI for Users.
This amazing thing is based on our Smart wallet — AI-based Account abstraction. In 2024, our target is to complete the ecosystem around Smart Wallet.
We had AI-Combinator on our app, but we will expand this feature to more dApps and more chains. Firstly, the Cosmos ecosystem is our target market.
Also, the other amazing feature: Auto trader. A function powered by AI, that supports user automatically interacting with dApps to save them from the fluctuation of the market, and the risk of their position.
Finally, to make things better, I think the personalization of these features is really important. Based on users’ portfolios, their taste of investment, … we can optimize the process for any user. Let’s see what will come to our Users this year.
Twitter session
Ms. Chewy:
Question 01 from @Hutchinson2Drew
“What are the anticipated benefits of having the Smart Wallet at the core of Orchai’s ecosystem, both for the project and its users? How does Orchai envision the integration of the Smart Wallet into its existing ecosystem, and what benefits will it bring to users?”
Mr. Tenas:
That’s a great question. Let me answer the benefits of Smart Wallet first.
At the moment, Smart Wallet is integrated to our AI Combinator, where our engine analyzes portfolio, and market sentiment to recommend actions for Users.
Now, with Smart Wallet, you can combine multiple transactions on multiple dApps in just one transaction. It’s more convenient and saves time and gas fees for you.
Also, in terms of applications, Smart Wallet can help them interact with users more easily. Besides, there are some other advantages of account abstraction when compare with normal wallet like safer, signature abstraction, fee abstraction, …
About the second question, atm, all of our applications are integrated into our smart wallet, and users can easily join it. There are about 20 premade recipes that are usually used by users. and these 20 recipes are available now. You can check here: https://app.orchai.io/ai/combinator/premade-recipe
Joining Liquid staking, Oraidex and borrowing USDT in just 1 transaction is an example.
Information about action, APY, and step-by-step guide for Users on our interface. Let’s join it.
Ms. Chewy:
Question 02 from @SarahJo67647802
“Could you provide an overview of Orchai’s OCH listing event and the significance it holds for the project? What were some of the key activities and initiatives that accompanied Orchai’s OCH listing event?”
Mr. Tenas:
I think Listing Event is one of our milestones, to support our long-term vision.
In our mind, we think the completeness and success of our product is more important. Only bringing good benefits, good experiences and positive value to users will make the successful for our platform
In the future, the key activities of Orchai should be: making new functionality for the platform, also bringing utility to the OCH token.
Also, marketing is a very important part of any projects. Attract more users, more partners are also our goals.
Ms. Chewy:
Question 03 from @AnnaSkryd
“What are some of the key benefits users can expect from utilizing Orchai’s Combinator in terms of efficiency, cost-effectiveness, and risk management within the DeFi space?”
Mr. Tenas:
Yeah, there are a lot of benefits of our Combinator:
1. Lower time consuming. You dont have to access multiple pages on your browser, or make and wait many transactions to be success on chains. You just need to visit one place and make one transaction.
2. Save gas fees. By combining multiple transactions in one, you will save gas fees for making many transactions.
3. By applying AI, we can recommend to you which recipe is good for your portfolio, in terms of both ROI and risk. These are very important in DeFi space.
AMA Live Question-asking Session
Ms. Chewy:
Question 01 is from @RosaleeProsser: “How does Oraichain plan to pioneer low-code DeFi management integration, and what strategic expansions to other blockchain networks does orchai_protocol envision in its roadmap?”
Mr. Tenas:
Yeah, that’s a great question. Atm, most of the DeFi apps on the Oraichain ecosystem are available on our combinator. Try swapping at OraiDEX, stake on liquid staking, and lend/borrow on the money market. In the future, EVM-based and Cosmos ecosystems are our target. Some functions are being implemented, please wait for our next integration.
Ms. Chewy:
Question 02 is from @Erick_hutcherson: “How does Orchai’s Cross-chain feature and AI assistance unleash the potential of DeFi, and what benefits does it provide to users?”
Mr. Tenas:
Yeah, another amazing question from our community. We see the problem of multiple chains and dapps in defi space. In our vision, we aim to abstract chains and dApps layer for our users. Also with the support of AI, we can choose the best dApps with the highest ROI and low risk for users. With cross-chain and AI functions, users just need to choose recipes, the interaction to dApps is not a problem.
Rewards
Thank you all for joining and for those who asked the questions, each will receive a reward of $20 in OCH = 10.75268 OCH (3PM UTC March 31).
If your name is in the WINNER LIST below, please send your OWallet Address to us before 8th March! The rewards will be distributed within 10 DAYS!
- For Telegram’s winners, please DM https://t.me/chewyOrchai
- For Twitter’s winners, please DM @orchai_protocol on Twitter
1. Twitter Questions
- Question 1: @Hutchinson2Drew
- Question 2: @SarahJo67647802
- Question 3: @AnnaSkryd
2. Telegram Questions:
- Question 1: @RosaleeProsser
- Question 2: @Erick_hutcherson
Congratulations to the chosen ones! Thank you for participating in this AMA with Orchai, your support is our great motivation to create more events in the future. Join the Orchai community to not miss out on any updates and stay tuned for interesting releases!
About ORCHAI.IO
Orchai is a low-code DeFi platform providing multiple protocols and features powered by AI. With a diversified ecosystem of different products, Orchai aims at 2 ultimate goals:
- Improving the management & investing strategy (With the low-code DeFi features powered by AI)
- Optimize asset flow (With the 2 protocols: Liquid Staking & Money Market)
The power of Orchai lies in the Cross-chain feature and AI assistance, unleashing the potential of DeFi with AI algorithms.
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