Shaping the Future of E-Commerce: Insights from UQUID and Venus Protocol’s AMA Session
On December 28th, 2023, the Twitter Spaces AMA session, organized by UQUID, featured discussions on “Crypto Shopping Trends and $VAI’s Role in 2024”.
The AMA session, hosted by Diego from the UQUID team, focused on integrating Web3 and DeFi in e-commerce. Deborah from the Venus Protocol team shared insights about the protocol’s community and developments. Lola from the UQUID team highlighted the platform’s broad product selection and global reach.
The session delved into the partnership between UQUID and Venus Protocol, emphasizing the Christmas Unlock Rewards campaign and the integration of VAI tokens as a payment method on UQUID. The discussion also covered Venus Protocol’s achievements, the utility of VAI stablecoins in addressing market issues, and UQUID’s strategic partnership with Venus, underscoring the campaign’s role in fostering community and enhancing the e-commerce experience.
For those unable to attend the event, we’ve created a recap of the AMA here. Please note we’ve made slight grammatical adjustments to the content for easier comprehension and smoother reading.
Diego (host): So, welcome all of you coming to this AMA today. Firstly, let me introduce myself.
My name is Diego from the UQUID team, and I am your host today. I’m using the Alpha Mobile Top-up. So, let’s kick off a quick introduction to Alpha Mobile top-up.
It’s the B2B solution by Uquid. We provide top-ups and data services for businesses in the Web3 area. So, for the AMA today, our focus is on innovating the future crypto shopping trends and going viral in 2024 with the speaker from Uquid and Venus team.
So, you may know stablecoins are a big deal in DeFi, especially when used for shopping. It’s like hitting the checkout; customers keep their access safe, earn profits, and enjoy seamless transactions. Today, we will delve into stablecoins with VAI tokens for Venus protocol for taking the spotlight and learn how UQUID and Venus are teaming up to emulate the shopping and earning experience, especially the dynamic world e-commerce platform.
So, stick around for the whole AMA because we got exciting info from the UQUID and Venus partnership, especially for the Christmas Unlocked reward campaign. So, now, let’s hear from our speaker. So, could you please introduce yourself? Deborah is a speaker from Venus Protocol. So, please unmute your mic and introduce yourself to our listener today.
Deborah (Venus team): Hello, everyone. Thanks for having me. I’m excited to be here. So, my name is Deborah. I’m Venus Protocol’s Community Ambassador. And I’m happy to share my knowledge about Venus and VIVE and its community.
Diego: Yeah, thank you so much for the welcoming introduction. Now, it’s time for a UQUID representative to let you know more about the leading Web3 e-commerce platform. Welcome and turn your mic, Lola.
Lola (UQUID Team): Hi, guys. My name is Lola from the marketing team of UQUID.
And if you’ve been a part of our previous AMAs, you’re probably familiar with UQUID and what we are all about. But for those of you who are new here, let me give you a quick rundown. So, UQUID, launched in 2016, is a major player in Web3, and we focus on maximizing the shop-to-earn experience.
We’re also pioneers in planting the defined Web3 into e-commerce. We also aim to provide customers with the ultimate shopping experience. We also have the most extensive selections with over 160 million products, including physical items, digital goods, and the NFT. And now, our shipping services cover more than 200 countries worldwide. Yeah, so that’s a little bit about UQUID and myself. Thank you.
Diego: Okay. Okay, thank you, Lola and Deborah, for the welcoming introduction. So now we will delve into the heart of our conversation today.
We are exploring the partnership between UQUID and Venus Protocol, focusing on the Christmas Unlock Reward campaign featuring the VIVE tokens as the payment method on UQUID. This promises to be an exciting and informative journey, so stay tuned. So, I will move forward to the first question for new users in our partnership today.
So, the first question goes to the Venus Protocol. Since its inception, what is Venus Protocol’s key milestone and achievement?
Deborah: Okay, thank you for the question. Venus has actually accomplished a lot since its inception. This particular year, 2023, has been exceptional for the Venus community.
And for those of us who don’t know what Venus is, Venus Protocol is an algorithmic money market, or you could say a decentralized financial platform that allows users to borrow from a variety of crypto assets by supplying an overcollateralized asset. Venus Protocol was launched in 2020. And if we want to go deep into its major achievements or milestones since its inception, the time we have at hand, we will not get enough to discuss it.
So, I’ll just speak to the few of its fuels and sole products that have greatly impacted the general DeFi ecosystem. I believe one of our major milestones this year was the launch of our isolated pool. As you know, crypto lending has prioritized large liquid assets due to their perceived safety and risk management.
And because we see that less liquid assets will pose greater risks or threats in DeFi lending, Venus decided to launch an isolated market to help address this particular issue. Now, even less liquid assets can participate in DeFi lending, all thanks to the Venus Protocol. Our second major milestone this year was the launch of our Soulbound Token, which is also known as the Venus Prime.
For those of us who don’t know what Venus Prime is, it is an incentive initiative that is designed to strengthen user participation in DeFi and also to increase growth within our protocol. Venus Prime is actually one of the key components of the Venus Tokenomics v3 and seeks to improve incentives and encourage the stating of XVS (token) with a specific focus on markets such as USDC, BTC, and ETH. So, with a minimum stake of 1000 XVS for a period of 90 days, you’ll be able to enjoy respected APIs on BTC, ETH, USDC, and USDC markets.
Also, we should note that in Venus, security is paramount, which leads us to our next milestone. I’m talking about the deployment of the Resilience Price Feed. I don’t know if you are aware of this. Still, the Venus Protocol is actually the first protocol to implement a Resilience Price Feed system and mitigate risks associated with single points of failure. And lastly, one of our major milestones this year that I would love to talk about is the implementation of the PEG Stability Module.
The Peg Stability Module or you can call it PSM, serves as one of the integral elements within the Venus Protocol, and it is strategically designed to peg the VAI stablecoins value at $1. The PSM mechanisms on Venus actually function similarly to the one used by WiccaDAO for its DAI stablecoin. I think I should pause here; I feel like I’m talking too much.
Diego: So those are some of the key milestones Venus has achieved so far. Thank you very much.
Thank you for the detailed information, and congratulations on your development in 2023. We all know that this year is kind of a tough year for cryptocurrencies, and it’s so great to see the Venus team keep building during this time. So, let’s move on to the main section today. So you may know that VAI is the Venus Protocol’s stablecoin and has been integrated into the UQUID’s platform. So, I think that many people don’t know about VAI tokens and VAI stablecoins. So, could you please help us understand the market issues that stablecoins VAI has to address? Thank you.
Deborah: Thank you for your question. Yes, VAI is the primary stablecoin of the Venus Protocol, and it has been designed with several stability mechanisms to maintain its stability at one US dollar. Now, let’s look at some of the different market issues that VAI addresses.
So firstly, Venus VAI is an innovative solution to the volatility issue. As an algorithmic stablecoin, it aims to provide users with a stable store of value by pegging its worth to the US dollar, mitigating the price swings associated with other cryptocurrencies. Secondly, the Venus VAI offers a reliable medium of exchange within the DeFi ecosystem.
One good example is the UQUID and Web3 shopping platform. Users can engage in various financial activities without fearing exposure to the price fluctuations that often accompany their other digital assets. So, VAI is also a good risk management tool for traders and a vital liquidity provider in DeFi.
The Venus VAI enables access to decentralized financial services and streamlined cross-border transactions and increases financial inclusion. So, I’m trying to say it’s a comprehensive solution that addresses key challenges in DeFi, including stability, efficiency, and inclusivity. Thank you.
Diego: Yeah, thank you for the answer. I think our listeners better understand VAI, its utility, and the mechanism behind the token.
So now let’s move on to our speaker from UQUID, Lona. So, in the roadmap of the expansion in 2023 and the upcoming year, UQUID has joined with several strategic partners, and Venus is among them. Could you guide us through the noteworthy achievements in collaboration between UQUID and Venus? In addition, what features contribute to making light integration in UQUID an attractive choice for shoppers?
Lona: Okay, thank you for your questions. So, as you know, we partnered with Venus early last month, and in cooperation with the VAI, the Venus protocol brings a bunch of perks for users. So now I will break down some of the key advantages.
The first one is that I want to talk about the priority of digital products. So Venus protocol users now have access to a vast selection of, you know, over 170,000 digital products within the UQUID ecosystem. This includes gaming gift cards, top-up services, prepaid credit cards, and a wide range of items from, you know, more than 200 countries.
And I also want to talk about the diverse physical products. So UQUID shops now open up a world of physical items for users, allowing secure purchases from globally recognized brands with 24–7 customer service support from us. And the third one is reliable payment options.
So, the VAI, being the Venus protocol’s primary stable coins, ensures stability with a one-on-one payment to the USD. I think this reliability makes the VAI a trusted choice for transactions, especially on UQUID, where the prices of the products are displayed in USD. And finally, there is enhanced security and shopping confidence.
So, at the UQUID shop, we prioritize product authenticity, and we want to offer secure shopping backed by Venus’s robust protective measures. So we, UQUID’s shop and Venus protocol, aim to introduce innovative features, improve existing services, and promote the widespread adoption of decentralized applications. Yeah, that’s it.
Diego: Yeah, thank you for your information. I agree with you that this integration is set to offer online shoppers an even more secure and enriched shopping experience. Now, we move to the next section in our AMA today.
We will discuss the Christmas Unlock Rewards campaign, which runs from December 22 to January. So the question for Lona is, what specific benefits do VAI users gain by participating in the Christmas Unlock Rewards campaign? And how does this enhance their experience within the VAI ecosystem?
Lona: Okay, so in this campaign, the participants will be part of an exclusive event with a magical prize pool of 10,000 VAI waiting to be unlocked. But it doesn’t stop there. Of course, throughout the campaign, we will randomly select 50 lucky winners.
Each user will receive $10 and a special treat. And the point of this campaign isn’t just about the reward. You know, it’s about creating a joyful community. So, just join us in making this holiday season unforgettable.
Diego: Yeah. Yeah, certainly. So, at that point, I want to ask Venus one question.
As the partner joining this campaign, what are the priority goals and purpose behind the Christmas Unlock campaign? And how does this align with the broader objectives of the Venus Protocol and UQID? Could you please answer that, Deborah?
Deborah: Sure. As we all know, this festive period is all about giving. UQID has collaborated with Venus to host this amazing campaign to help its users and show amazing rewards to make their Christmas celebration merrier.
So, the primary purpose of this Christmas Unlock campaign is to reward users for their active participation. There is a prize pool of 10,000 VAI and an additional $10 for 50 lucky winners, among other incentives. And one of the primary purposes of this campaign is to make this holiday season more than just shopping.
It’s about creating a festive blast for everyone. The goal is to make your Christmas festivities a lot merrier by encouraging active involvement and interaction from all the users. I personally believe this will enable a sense of belonging among community members.
Also, the campaign aims to boost media awareness and adoption of the Venus Protocol and UQID. Using VAI for UQID shop purchases actually demonstrates a practical application for Venus Protocol’s stablecoin, which will attract new users to their files. This campaign is also aimed at showcasing the utility of VAI.
By showcasing the practical use of VAI for holiday shopping, this campaign supports Venus Protocol’s goal of establishing stablecoins as reliable and widely adopted assets within the DeFi space. Thank you.
Diego: Yeah, I agree with you that this Christmas Unlock Rewards campaign is also a fantastic event to kickstart our long-term relationship, bring more benefits to our users, and enhance the shopping experience. So, if I were an audience member joining the AMA today, I would be curious about how to participate in this exciting Christmas Unlock Rewards campaign. So my question for Lona is, in terms of guidance for potential users, are there specific tips you can share to ensure that they have the most sensual experience participating in the Christmas Rewards Unlock Campaign?
Lona: Yeah, of course. So, to ensure you don’t have to wait any longer, I will share how you can easily join this campaign with just a few simple steps. So, first thing first, create your UQUID shop account.
So, the first step to unlock the magic is to create UQUID’s shop account during the campaign period. And trust me, it only takes a few seconds to complete, and it’s your golden ticket to a world of rewards. In the second step, I want to mention the Holiday Harmony products of UQUID featuring Venus Protocol.
So the user can experience shopping with the VAI on the UQUID shop with the symbolic Holiday Harmony UQUIDxVENUS Protocol festive fusions and the products priced at just about 2 cents. And this exclusive SKU is not for sale but serves as your passport to the heart of our festive campaign. And every purchase of the special SKU will bring you closer to unlocking your share of the prize pool.
Last but not least, fill out the form. So there’s a form, and you have to complete it with your UQUID account code, telegram, and Twitter account. And you have to make sure that you like and share our campaign post with UQUID and the Venus Protocol hashtag for, you know, an extra dash of the holiday spirit.
One thing you have to take note of is the prize pool distribution is on, you know, a first-come-first-serve basis because we want to add an element of excitement to your festive celebrations. So, the prize pool unlock is based on the total number of UQUID shop accounts created during the campaign. Yeah, I hope you’re clear about that.
Diego: Yeah, awesome. These are some steps of how to participate in this campaign. For more information, you can visit our Twitter or our blog to see more details about this.
So now we will move on to the last question today. And I would like to hear the answer from both sides. Do you have any plans to strengthen the partnership between both organizations in the near future? So Venus can go first.
Deborah: Yes, of course we do. We recognize the significant utility that UQUID has brought to our stablecoin day. And it has contributed substantially to enhancing liquidity for our token. We are actively exploring additional innovative algorithms for UQUID to integrate with Venus Protocol. And together, we will achieve great milestones. So yes, thank you.
Diego: Yeah, thank you for your answer. Okay, Lona. Do you have any comments on this?
Lona: Yeah, of course. So, we have a lineup of exciting events planned for the end of this year and the next year. These events are not just about raising awareness; we want to build trust and confidence in shopping on the UQIID platform, especially when using the VAI token as your preferred payment method.
So, just stay tuned and connect with us through our social media channels to ensure that you are always aware of the latest updates and all the information you need. And it’s going to be an exciting adventure. And, of course, we want you to be a part of it. Yeah, thank you.
Diego: Yeah, thank you for the answers from you guys. And I want to thank everyone for being a part of today’s session. As we concluded, we want to emphasize the incredible opportunity available during the Christmas Unlocked Rewards campaign on the UQUID platform.
Take advantage of this. Head to the campaign page, discover the exclusive offer and see the discount and reward. And, okay, I think this is the end of the session today. Deborah, do you want to say goodbye to our audience before we end this AMA today? Feel free to share your thoughts.
Deborah: Of course. Thank you so much for having me today. It was very lovely to connect with the team. I honestly can’t wait for us to do this again soon, I hope. But it was lovely talking to you.
Diego: Yeah, thank you so much for sharing with us today. Very happy to have you here. And Lona, do you want to say goodbye to our community before we end this?
Lona: Yeah, of course. Thank you. Thank you guys so much for joining us today. And I’m so happy to be here sharing such a lovely session with you guys. And of course, I hope you have a great time shopping with us, especially in this festive time. Yes.
Diego: Yeah, thank you so much. So stay tuned with us and our partner across social media for the latest on upcoming AMAs and events. So, your active participation is valued, and we eagerly anticipate more enriching conversations in the times ahead. Okay, the last thing I want to say is that I wish you all very well and happy shopping. Goodbye.
Deborah: Bye
Lona: Goodbye.
So this is the end of the AMA Recap between VENUS and UQUID on the topic “Crypto Shopping Trends and $VAI’s Role in 2024”. Don’t forget to subscribe, follow us on our social media channels, and stay tuned for more information!
About Uquid
Launched in 2016, Uquid pioneers in applying DeFi and Web 3.0 to E-commerce that aims to bring the best Shop to Earn experience to customers with verified merchants, exclusive deals, cashback, and Payin3 with Crypto.
Throughout the years, Uquid still keeps its fantastic performance with continuous growth and the best effort to upgrade its store following the official Roadmap. With the largest selections of over 160 million physical, digital, and NFTs products listed and comprehensive shipping services to over 200 countries and territories around the world, Uquid is confident in serving any demand of customers in the Metaverse.
Users shopping at Uquid are offered flexible and convenient payment methods including cryptocurrency, fiat, or wallets. Uquid’s ambition is to dominate the crypto marketplace by offering the Buy Now Pay Later option to customers. Uquid Payin3 is all about protecting crypto futures value, by delaying the payment in three installments for 90 days, interest-free. With many years of building an infrastructure for E-commerce in Metaverse, Uquid has found the easiest and safest way for customers to access their money and shop online.
Telegram: https://t.me/uquidcoinofficial
Twitter: https://twitter.com/uquidcard
Facebook: https://facebook.com/uquidcard
Medium: https://medium.com/@uquidcoin
Blog: https://shop.uquid.com/blog
Website (Digital product): https://shop.uquid.com
Website (Physical product): https://uquid.com
Website (General): https://uquidcoin.com
Website (NFT): https://nft.uquid.com
