Q: Could you elaborate on Verso’s validator roles?
Verso validators perform product validation tasks in terms of legitimacy, functionality, usability, etc.
They will be rewarded in a $ amount, paid out in VSO tokens and there is a set number of validators for each product. These validator rewards accumulate for every single conversion, e.g. users purchase protection for travel interruption through their custodial or non-custodial wallet, the validators of that product will earn a reward. The minimum requirement to become eligible as a product validator is to stake 10k VSO (subject to change).
We’re moving passive income opportunities to an entirely different level with the way we designed these validator roles. Both individuals and corporations can be validators. The requirements and process differ from an onboarding perspective and whether they will act as a compliance validator or as a product validator.
(Compliance validators perform tasks with reputational impact for the ecosystem and as such need to stake a much larger amount of VSO [currently 1 mil VSO]).
Q: Why does your roadmap not contain a specific timeline?
We do not view our roadmap as our release schedule. The reality is, we do not want to constrain ourselves to an estimated set date.
We do not wish to sacrifice product quality and priority queues do change. We are building a product for real-world global use and while the crypto space moves incredibly fast, the regulated financial space does not. We believe the roadmap should convey the product strategy and where we’re going.
Q: What are your plans for 2022 and when will the new roadmap be released?
This is going to be a huge year for Verso. We have launched our first product and will be adding additional products on a continuous basis.
With the launch of the Verso Dapp, users will also be able to purchase products directly through their Metamask. This includes products from both DeFi providers and TradFi providers. This includes working with validators and aggressive onboarding of partners.
Our focus is on exposure in key markets. We’ll be building to accommodate additional product categories beyond insurance (i.e. yield products, unsecured loans) and will also establish cross-chain partnerships and tap into communities beyond Avalanche. This goes in sync with an overall increase in marketing efforts. We’re still fleshing out the details and will release a comprehensive roadmap in the coming weeks.
Q: What is your main message to Verso HODLERs?
Verso is an infrastructure project that is 8 months old. Building infrastructure takes time and value increases progressively as things take shape and become obvious.
Early-stage projects are great for Hodlers given the magnitude of the upside versus the amount invested. This is even more so the case for projects offering staking opportunities, allowing to compound from early on.
As a distribution gateway for financial products, Verso extends far beyond the crypto scene. Everyone who has witnessed what superapps have achieved, how microfinance has evolved in emerging markets, how crypto and TradFi converge, will realise the value of what we’re building here. This is the time to help us build and HODL. Patience is key here.
Q: Will you be at Avalanche’s Barcelona summit?
Yes! Some of our team members will definitely be there, and assuming travel is not too difficult, even more members could potentially join.
We are also planning a launch event around that time and the possibility of leveraging the summit is on the table. We are very much looking forward to connecting with community members who’ll be there!!
Q: Will you be listed on any new exchanges any time soon?
Specifics about potential new listings on a CEX are something we cannot comment on for a number of reasons: first, there are processes we cannot control and it wouldn’t be genuine of us to share details while variables remain out of our control.
But as we have stated before, we do have plans to list on CEXs and we are currently in discussions with some.
Q: Do you take into account community feedback and demands?
Our Community is our biggest pride and joy. We could not thank it enough for all the support and participation.
We do take into account constructive feedback on product and project execution.
Many of you do reach out with great ideas, some of you even offer your help, and we are genuinely thankful for this type of involvement.
We plan on including our community members in a more formal way in the coming weeks.
Q: You’ve grown your product and marketing team. Can you give information about marketing activities?
We purposely refrained from big marketing initiatives in the past; now that we have the first product on the platform we are ramping up a series of initiatives.
This includes thought leadership across industry events, a brand upgrade, and much more content for a tailored audience group. In addition to marketing and PR efforts, we are also focusing on community development which includes cross-chain communities.
Q: Are you looking to make the project more knowledgeable for investors and companies in Europe, America, and the Middle East?
We do look at specific geographies for TradFi partners. We started off with Singapore and are now discussing with insurance and other financial service providers in the Philippines and Indonesia.
The Middle East and Latam are of high interest as well, but we do need to prioritise given the resources available.
We are always open to discussing new partnership opportunities and we welcome potential partners to reach us at [email protected]