Creed Finance with Michael Aum at t.me/amaroom

6 min readSep 26, 2020

Eric: Welcome @michael_creed! Thanks for taking the time out of your busy schedule.

Michael: You are welcome :)

Eric: Please introduce yourself to the AMA room community.

Michael: Well..I am an idealist — someone who believes that AI and blockchain can fundamentally change our way of life if we are all willing to accept it. I know a thing or two about AI, but I do not think I am nowhere near a world-class expert in blockchain. But I really do enjoy learning more about it as we dive more into dev process.

Eric: Nice. so what is creed.finance?

Michael: Lending + DEX + Yield Aggregator, supercharged with AI to endow users with higher return and less risk.

With a whole host of farming and staking apps, what makes Creed standout?

Although we are only testing it in-house as of now, (really)merging AI into defi is what we are aiming for.

Eric: Can you tell us, how does the AI work? Do you train yield models for it? any insight would be much appreciated.

Michael: Oh so traditional machine learning is really computationally heavy. we are training all sorts of things on the side, but the main objective now is to come up with a learning algorithm light enough to be implemented in a smart contract and still be effective.

Once it works, then we plan to incorporate off-chain computational nodes and bring heavy AI models together.

Eric: Very interesting. Will this beat any manually managed fund?

Michael: It is certainly beating me for sure lol.

Eric: haha. humans = rekt. Who do you target as the main customers for creed.finance?

Michael: Someone who wants a one-stop defi shop that works better than the rest.

Eric: How do you think CREED will work in a bear market?

Michael: We plan to expand our platform to handle crypto derivatives also in order to hedge against bear market.

It will get really tricky though.

Eric: Woah. that would be killer.

One thing that made me perk up about Creed, are the advisors.

Can you tell us how they came onboard the project?

Michael: All of the advisors are my friends, some with decades of history. I have never really thought of having any kind of formal business-like things with them before, so frankly I’m a bit nervous about the current operation. I hope we can all enjoy this journey together so that we may grow even closer.

We all enjoy meditation, by the way.

Eric: I am sure everyone will have a great adventure!

So tell us about the token, what does it do?

Michael: Well the token is mainly created for governance, so we need to roll out the rest of the features fast to not keep the community waiting. We are trying our best.

Eric: Ok.. i will open up the floor for community questions.

Community AMA

Q: Most Defi projects have rug-pulled on Uniswap. Any plans to implement time lock contracts and what amount of ETH, USDT will be locked? What are the team plans to get listed on a centralized exchange?

A: Timelock is in place. By the way, there are no specific plans for listing. We would like to focus on development first. However, we would like to discuss listing if the exchanges reach out to us.

Q: Can you explain to us how governance is made effective? Where are the discussions on CREED held and how are the votes carried out?

A: To be honest, I’m tinkering with the idea of Artificial Intelligence-assisted governance. We have a quadratic voting idea to impose some degree of fairness quickly, but an advance vote weighting mechanism will be needed to achieve better governance.

Q: How can I farm $CREED token on Uniswap? I read that you can earn up to 12,000% APR on CREED/ETH which is insane! How sustainable is this?

A: You can swap your ETH to CREED in Uniswap, then provide liquidity to Uniswap ETH-CREED pool. Once you get LP token from Uniswap, you can connect your wallet to app.creed.finance, select EARN, stake your LP tokens to farm more CREED. APY depends on how much people are staking in the pool, price of creed, and token minting per block. It is therefore subject to change quickly. Make sure you find the correct CREED token from here (https://uniswap.info/pair/0xac11dbed5e2520216f427c39994334b7c4c10b65 ) we’ve seen some scams with the same name.

Q: I have a small amount of capital but I want to be able to take advantage of the tools offered by CREED, is it feasible for me?

A: Yes, you can. However, you would need enough to pay for the gas fees.

Q: Creed is synonymous with Faith, so can you tell me the story behind the name? Why did you choose “CREED”?

A: We would like everyone to keep faith in decentralized finance to keep the stream of innovations alive, hence the word “CREED”.

Q: Some DeFi projects often use Chainlink’s price reference feeds to support their users. Are you planning on integrating Chainlink’s tools? Can you share with us about your strategic partners?

A: We are definitely going to use Oracle for a later stage of AI integration. There isn’t any specific plan on partnerships, but if it helps the project proceed quicker, and if the community demands it, we may consider it.

Q: We want to know the road map for the Creed Finance so far, how far has the road map been? what will Creed Finance realize at this time? and what will be realized in the future?

A: Our main objective as of now is to finish the governance page for voting and proposals by next Monday.

Q: Creed provides automatic rebalancing over various cryptocurrency assets, can users choose where to place the funds? Or is it done by the AI?

A: The typical “max APY chasing” strategy can be significantly improved even if we only take into consideration of the first order and the second order derivative of the APY fluctuation data. We will roll out services in 3 stages. The first stage is to implement a very simple online learning algorithm to minimize the computational burden. The second stage is to utilize both the algorithm on smart contract and the computational result from off-chain node with heavy AI algorithm. The third state will automate an efficient algorithm search for both the algorithm implemented on the smart contract and the off-chain computational node, therefore eliminating the need for human algorithm developers and open up a way for true decentralization based on AI.

Q: What are your plans for the nearest year in terms of marketing and business development? How do you plan to expand the network, community, partnerships, etc?

A: Our sincere wish is that all of us observe a real decentralized defi project, so we hope the community to take charge of the marketing process(any means you’d like) and business development(through a proposal, etc.).

Q: Creed Finance offers various products including yield aggregator, lending, DEX (Swap), etc. Are you focusing heavily on user experience in everything you build, Are your products easy to use and accessible or users have to pay to access your products?

A: 1) We really believe UX and usability is important. When we open up Github page, please shoot pull requests for entirely new features. There are so much we wish to do, but dev resource is scarce, so we would need your help.
2) I sincerely hope there will never be closed access by the payment wall. But it would be necessary to provide a fair incentive to the community members who bring extra value to CREED. As for how to implement such, we would like to ask all of your opinions.

Sadly, the very nature of human desire may lead a perfectly promising Defi project into an ugly scam. DAO is not a perfect solution, but it is imperative to have some measures to at least make such sad behavior difficult. As I have briefly mentioned earlier, perhaps introducing AI into the governance structure may be the solution to the dark side of Defi innovation.