June AMA Session and Latest Features Demo Video: Transcript and Q&A

We’ve transcribed our latest AMA session and features demo with CEO Kiran Pingali into a written format for your convenience. Check out all the questions and answers from our June session below.

 

Part 1: Q&A with CEO Kiran Pingali

 

Question 1: What is the recent progress at FluidAI, can you share what’s been achieved year to date, and specifically over the last month?

 

Kiran: We have achieved a lot this year and below is what has been completed on the product year-to-date in a closed beta mode.

 

  • We have integrated with a set of DEX aggregators and DEXs directly to access 95% of the DEX liquidity and bring it to our users.
  • We now provide cross-chain swaps across EVM and non-EVM networks.
  • We have liquidity integration and partnerships with the likes of 1inch, Paraswap, Unizen and Jupiter DEX on Solana chain.
  • On the centralized exchanges front, we have integration with Bybit, OKX and HTX (formerly Huobi), and we are continuously adding more centralized exchanges. All of this is in a non-custodial format. We’re integrating with both EVM and non-EVM wallets. We also have Moonpay integration for anyone to be able to buy crypto directly using a credit card and then make a transaction on our platform.

 

The progress specifically in May:

 

  • We were able to integrate Solana as a chain on our platform and add Jupiter DEX, the ability to trade on Jupiter DEX. We’ve done a lot of different trades internally and we’ve seen that the prices on JupiterDEX have been much better than on centralized exchanges. 
  • We’ve released the ability to paste any custom token and get quotes on that as long as there is a liquidity pool for that token.

 

And also we have spent a considerable part of May on:

  • The design and architecture for our AI-based predictive models.
  • On our centralized exchanges strategy and integration.
  • On our AI-based smart order router, to provide optimal execution across both centralized and decentralized exchanges. So definitely a lot of progress year to date and specifically a lot of progress in May. The next two months are again going to be crucial, which I can shed more light on.

 

Question 2: Could you please share the current roadmap and outline the features that need to be completed before launching the app?

 

Kiran: If you could please show the slide on our Roadmap.

 

  • For Q2, Q3, we have advanced AI-based model development in the pipeline to predict market movement, whether it is price, whether it is liquidity, whether it is volatility or whether it is volume.
  • We have AI-integrated smart order router to provide optimal execution across centralized and decentralized exchanges.

 

Then apart from the set of exchanges that we have already integrated, our goal is to access and bring 90% of the centralized exchanges liquidity. All of this in a self-custodial format. So self-custody using smart contract wallets is the way we want to go to bring this centralized exchange liquidity as well to our users.

 

We also have plans for integrating additional EVM and non-EVM chains and bringing the liquidity on those and then unifying liquidity across all centralized exchanges, decentralized exchanges and prime brokerage platforms.

 

The features that need to be completed before launching the product for a wider audience:

 

  • Number one is AI. We cannot emphasize enough the importance of AI in our product because we started on this journey to use AI as a technology to bring better prices and faster execution to our users using AI.
  • More liquidity access across the centralized exchanges.
  • The ability to trade centralized exchanges in a self-custodial way.

 

Once we achieve these three things, we believe we will have a truly unique and differentiated product. And that’s what we are aiming for over the next few months.

 

Question 3: What are some of the product launch dates that our community members should be aware of?

 

Kiran: The key dates that our community members should be aware of:

  • Mid to end of July for the launch of the MVP in a public beta mode.
  • Mid to end of August where we will be enhancing our MVP to add more bells and whistles, add more features to the product, and bring it to a broader audience.

 

So again, as I mentioned, from a product build-out perspective, this month is going to be very crucial. And then from a product launch perspective, the next couple of months are going to be very, very crucial. These are the few dates that our community members should be aware of.

 

Question 4: In one of the previous AMAs you said that we were aiming for TGE in June. Is June off the table now?

 

Kiran: In the spirit of clear, honest, and direct communication, let me be very direct and say that June TGE is just not possible. We don’t have a product yet to have a stellar TGE. And a stellar TGE is what all of us are aiming for. There is nothing differentiated about the product as it currently stands. With the product as it currently stands, if you add centralized exchange aggregation on top of it, then we have something different. And then if you add AI-based predictive modeling to provide better prices and faster execution, then you have a truly differentiated product. And this is exactly what we are aiming for and building towards. And all of this is going to take time, which is over the next few months.

 

So as of now, TGE in June is off the table and everything depends on:

 

  • Product build-out
  • Product launch
  • Building a community around the product.

 

We can talk about TGE post some of these milestones or as we are achieving these milestones. So we’ll keep the community informed as we reach these milestones, and we will continue to inform them on a continuous basis of the TGE date. But again, all I can say right now is we are all working hard towards product build-out and product launch, and the TGE will be based on that.

 

Question 5: Some of our community members suggest that we should launch the token first, and then build the hype before launching the product, and that some other projects do this. Can you elaborate on why we are not choosing this path, and want to launch a successful product first, and then launch our $FLD token?

 

Kiran: There are two schools of thoughts here. One school of thought is to launch the token first and then the product. I know some projects have been successful this way.

 

The second school of thought is basically launch the product first, get a critical mass of users to adopt that product, ensure that the product is bringing something truly differentiated and truly of value to the community, ensure that the token has certain utility in the product, and then launch the token. We fall under this category. We truly believe in this school of thought because especially when we look at projects that are similar to us, this line of reasoning, we believe is going to be more successful.

 

And I’ve said this before in a previous AMA – the TGE that we want is basically a stellar TGE of half a billion, one billion dollars market cap. So we believe that if we follow this path, this tried and tested path of launching the product first, ensuring there’s a wider and massive adoption of the product, ensuring that the token has utility on the product, and then bring the token to a broader audience, we believe that the overall TGE will be very successful.

 

This will result in all of our community members, all of our investors, everyone coming out  happier, and we believe this is the cleaner way.

 

Question 6: Some of our community members are also worried if we are running out of money. Could you please tell us if our marketing efforts are not scaled up yet because we ran out of money, or because we don’t want to overspend them at the early stage, and use them more efficiently when the right time comes, which means when the product is lanched?

 

Kiran: Let me assure everyone again and be very direct –  we are not running out of money. We have enough runway for product build-out and we have enough runway to even do a TGE on the back of the product build-out. The only reason we are raising capital is to increase our spend on marketing and ensuring that we have a massive TGE, which includes listing at tier-one centralized exchanges. Anyone who’s familiar with the TGE process knows that, especially to centralized exchanges, that spend is a decent amount.

 

So to answer the question, we are not running out of funds. We have enough funds to build the product and even do a TGE, and the only reason we are raising is to increase the marketing spends. And the proof that we are not running out of funds, as I mentioned in a previous question, is we are not launching the token before the product. That would really be putting the cart before the horse. So we are going in a very systematic way, spending on product development, spending on AI, spending on product launch, and then we will massively increase our spend on marketing to ensure a very successful TGE. So that’s the direction that we are following.

 

Thank you, everyone, and looking forward to connecting with you guys soon. Looking forward to answering any further questions over Telegram.

 

Part 2: Demo of the Latest Features

 

But that’s not all! Be sure to watch the entire video as we also demonstrate live transactions, including:

 

  • SOL to USDC transaction on Solana
  • Custom token Cross-chain Swap between EVM networks

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