AMA Recap: Current Status and Planning of Master Protocol

May 15, 2024

This past Sunday, our CEO David was invited by CRYPTO ASTRONAUT to attend an AMA, where he detailed the current status and product planning of MasterProtocol. Here is the recap of the AMA.

Time: May 12, 12PM UTC

Platform: Binance live



Q1: Can you introduce yourself to our community? Tell us more about your experiences and background in crypto!

David: I entered crypto in 2016 and I was one of the members of NEO’s founding team, focused on marketing. In 2021, I started mining ETH and BTC in China and North America.

Q2: Can you give us an overview as to what Master Protocol is all about? What is being offered on your platform?

David: Master Protocol is the One-stop LSDFi in the BTC Ecosystem.

Restaking on ETH is one of the biggest trends. On the other hand, launching derivatives on Bitcoin is possible now, with a great potential for restaking. We are trying to bring the most advanced innovation of DeFi to Bitcoin.

We will provide Lido-like LST protocol with Botanix, and a Pendle & Athena-like LSDFi platform where you can trade different assets. We will also introduce a point market with other yield generative products. All these are set to be launched gradually this year, synchronizing with the deployment of BTC L2 like Babylon, BounceBit, etc.

Q3: Can you tell us some of the key features and advantages of Master Protocol? What differentiates Master Protocol among any other?

David: Master Protocol is providing everything: Lido, Pendle, Athena. What they do on Ethereum will be immigrated to Bitcoin.

We will start with LST protocol on Botanix. They will provide a LST BTC that users can use to do all sorts of things, such as providing liquidity in our pool, to earn yield.

For LSDFi product, we are going to launch the Beta version maybe next month. We will also connect to other LSD BTC. There will an APY market where people can trade yields. We have the automatic optimized strategy tool, allowing users to choose the best yield by just 1-click. We will be the first one to deliver real restaking yield in Bitcoin.

In the future, we will consider launching LRT when we have enough liquidity and credibility.

The most important difference is that we are providing products vertically in every ecological position on the whole value chain, with an all-in-one LSD experience. The other plus is that we are agnostic to the underlying infra we are building on, rather than hard bound with a certain one. The ecosystem is shifting rapidly, and it is not possible to pick the best option.

Q4: What is the main innovation that Master Protocol is contributing to the LSDFi space? What is the main drive of the Master Protocol for innovation?

David: The main innovation is our go-to-market approach.

The first thing is a smooth and friendly user experience: we will let users onboard easily, understand everything without any study or effort.

Secondly, there will be a lot of campaigns that our community can engage to win rewards. Early community members will benefit a lot from the growth of the project.

5. Can you name some of your partners and backers in the space?

David: We are supported by esteemed investors like Cogitent Ventures, Token Metrics, FounderHeads, Trendsetter Ventures, as well as other angels from leading funds.

We also have Mr.block as our advisor, who will provide valuable experience on building LSDFi products.

For BTC L2 projects, we will have Botanix supporting us at the beginning.

6. One great news we’ve seen is that the Genesis Master Pass has already been minted out. Can you tell us more about this? And how do the rewards look like for the holders?

David: There are 6500 NFTs, comprising 3 different levels: SSR, SR, R. The passes serve as a crucial credential for participation in the Master Premine Campaign, enabling participants to earn points and win airdrops. The highest level, SSR, possesses exclusive mining attributes, allowing participants to earn points for token airdrops through staking. The token airdrop to these NFT stakers with points will be significant! A lot of perks will be added in the future.

7. Also, about the Genesis MasterPass. We’ve read that there is an upgrade mechanism for this as well. Can you talk to us more about this? How does the upgrade work?

David: The mechanism is simple: 3 R can be combined to 1 SR, and 3 SR can be combined to 1 SSR. You can check the Daily Point Output Ratio: SSR:SR:R=150:40:10. We encourage you to upgrade and get an SSR to maximize your earnings.

8. For the community members who missed out the Early Bird Campaign, is there still any way that they can participate as early as now?

David: Yes, sure. The pass was minted out but you can buy on Opensea now:

We will buy back and giveaway Passes to the community, so stay tuned with us! Genesis Pass is just the beginning, there will be more NFT Pass series in the future for different BTC L2!

9. How important is the community for Master Protocol? Are there any ongoing community events as of the moment?

David: We always prioritize the benefit of our community. By building the loyalty system by the Genesis Pass, profits will be shared with the early adopters. In summer time, there will be a big campaign where everyone can participate and earn rewards. Stay tuned for it.

10. To wrap up, can you tell us more about the future plans of Master Protocol? What are the next roadmap priorities? Beyond that, could you share some insights about the BTC ecosystem & Defi on BTC?

David: For me, these 3 questions have a common answer. We will gradually prepare the products mentioned above, and once other BTC L2 products are launched, we will quickly introduce their LSD assets to provide users with genuine yield. The current market sentiment is not high, but we remain bullish and believe that there will be a surge in the BTC ecosystem this summer.