In case you missed our AMA on 29 June 2022 at the Impossible Finance Official Telegram, we have you covered. Here’s the full summary of Aura Network and Impossible Finance AMA. Let’s deep dive into insightful details about Aura Network with our Founder.
Kim | Impossible: First question, can you tell us more about the vision and goals of Aura Network?
Giang Tran | Aura Network: Yeah, Aura Network is a layer 1 blockchain with the vision of Building the Internet of NFTs thus everyone from the 7B population will be Aura users. One of our most important goals is to drive the users from the traditional market, the users of brands and businesses to the industry of NFTs by optimizing NFT use cases and utilities toward a simplified, effortless experience.
We strongly believe in the NFT potential, which will be the key to the Metaverse. So we aim to build a comprehensive ecosystem to accelerate global NFTs adoption. In order to do that, we have been creating several built-in features on other platforms and ecosystems - with high security for sure.
On the other hand, Aura Network aims to be friendly, easy-to-use, powerful blockchain for any BUILDer. We want to create a seamless NFT journey for users, a better experience as a whole.
Kim | Impossible: Why did the team decide to name itself “Aura Network”?
Giang Tran | Aura Network: The name 'Aura' refers to the halo of people, galaxies, and energies around everything. We want to highlight the interconnection between the Aura's positive energies, which means our product features and ecosystem. It goes along with our vision, Building the Internet or Galaxy of NFTs.
You can see that networks Aura releases are called Serenity, Halo, Euphoria, and Extaxy (Ecstasy), representing different kinds of positive energies. This is also what inspires our branding colors. That is the reason we pick "Aura Network"
Kim | Impossible: Let's keep driving this positive Aura. Next question, we would love to know more about your team members and their backgrounds. Can you share it with us?
Giang Tran | Aura Network: I am Giang Tran, Founder and CEO of Aura Network. Currently, I am a member of the Forbes Technology Council and co-founder of several blockchain startups. Among them is Akachain, a blockchain solution platform (top 10 HFS) for international businesses founded in 2017. I had at least 6 years of running a business for blockchain and knowledge about this technology. We can connect with each other via my Twitter: https://twitter.com/Giangaura
We also have 2 teams in Vietnam and Japan. Aura's product development team is very experienced in Blockchain. The team now has 50 developers, and is still rapidly growing, the business team is working globally and based in Japan and Vietnam.
In addition, we are very fortunate to have a team of advisory and dedicated backers, helping Aura firmly on the road to conquer essential development milestones.
Especially Coin98. They have always accompanied Aura and placed the first bricks on building products and the development orientation of the project. The additional point is that Coin98 is also Aura Network official wallet.
Kim | Impossible: Moving onto the next question: We're so excited about what's coming. Can you tell us what we can expect down the road?
Giang Tran | Aura Network: We recently launched our Testnets: Serenity and Halo. Serenity for user testing and Halo for Node validators. The next milestone is to launch the Euphoria - Staging network next month. Euphoria will be the closest version to the Mainnet, and we want to work with the most reputable validators to secure the network. We just announced our official validators invitation recently. By the way, Aura Network also provides an incentive program for node validators who join Euphoria.
But before the Mainnet, we will go public listing on both centralized exchanges and decentralized exchanges. Hope you guys can follow and support Aura Network!
Kim | Impossible: You guys can learn more about Euphoria Staging Network here: https://insight.aura.network/invitation-to-join-euphoria-staging-network/. I have one last question for you, Giang How do you plan to attract non-crypto natives?
Giang Tran | Aura Network: Yes, attracting Non-crypto natives is one of the most important strategies for us. Regarding non-crypto natives, Aura wants to support newcomers and brands to adopt NFT, enabling new ways of user engagement for brands, more brand values, and competitive advantages for them. However, we found 3 main challenges to this, and this is what Aura is trying to solve:
1/ The barrier to participation of the newcomers, the NFT experience is currently fragmented. The user has to go through a lot of complicated processes and DAPPs, from creating a wallet, minting NFT, and placing it in a marketplace. etc. Aura will develop a built-in ecosystem for users, so they can easily enter the NFT world.
2/ Another obstacle is that NFT lives in different ecosystems, and Aura wants to enable the swapping between different ecosystems. In order to create more liquidity for the community and the market.
And lastly, the NFT use cases are currently limited. They are mainly games and collectibles. We want to create more utility and use cases for NFTs, and make it easier to access and obtain by the general users.
Kim | Impossible: It's great to learn that Aura Network is working hard to solve the challenges you've mentioned! We are definitely looking forward to it. We appreciate your comprehensive answer! That awesome last answer wraps up the first section of the AMA!
Question 1: Can you explain the difference between Aura token and Aura coin, and why there are two types of Aura?
Answer: This is a kind of FAQ; before releasing Aura mainnet, we do launch by Aura Token (BSC Token). Aura coin is Aura native coin, will be released when Aura mainnet launch, after that Aura token can be swapped to Aura coin, and AUra coin is the main coin being used on Aura Network.
Question 2: Almost 80% investors have just focused on price of token in short term instead of understanding the real value of the project. Can you tell us on motivations and benefits for investors to hold your token in long term?
Answer: Interesting question, we can think this way in the bull market; everyone just looks for the green candle and invest. The way we started Aura is a bit different, we launched in the bear market, and we gained trust from the investors through the quality of products. When you take a look at Aura, you can see that we do not build a short-term token; we aim to build a huge ecosystem; the more grow by Aura ecosystem the more benefits investors can get.
Question 3: ETH chain has a huge gas fee but still, people use ETH chain for NFT although there are a lot of alternatives like Solana. What's your best strength do u think, to bring ETH people to Aura?
Answer: Yes, ETH is the biggest place for NFTs. Currently, ETH is facing some problems with the gas fee, speed,... Aura can solve those problems; however, the way we convert ETH users to Aura is the cross-chain protocol, so we will be the hub for every chain that can do cross-chain NFT. Aura does not compete with any chains; we will be the blockchain connect multi-chain for NFTs.
Question 4: It seems to me that an important part of the development is strong marketing, so you can increase recognition in the world of cryptography. What strategies are you developing to promote your project to more communities and reach more users? Perhaps partnerships with popular exchanges, bloggers, wallets?
Answer: I think the best way to do marketing is project quality; we focus on building the best things for users and BUIDLER. We are also very active in our GitHub to provide as many as possible tools, docs, and templates for our community.
Aura also built good utilities for builders to help them quickly approach Aura.
Lastly, Aura tries to bring our blockchain to universities to train and educate students.
Question 5: Will there be any development of an NFT project or collection with Impossible Finance directly on the Aura Network? Would love to see what Calvin and the Team could make.
Answer: I think this is a very cool idea, I had well noted and can do some discussion for this. Yes, in the future, some collections like this can happen. Thanks Impossible team as well.