8. FAQ

1.What is Pilot? Pilot is a smart over lending protocol based Heco chain released by Pilot Lab, it is the first over lending product on the Heco chain. It supports users participating in liquidity farming through over lending plus leverage to get more revenue. When the user who has insufficient funds but want to participate in DeFi liquidity farming, Pilot can provide up to 3X the leverage to help users obtain the maximum return per unit time, and at the same time provide a borrowing pool for users who prefer stable returns to earn profits.

2. What are the differences and advantages of PTD and other lending projects?

Pilot innovatively using a lending protocol with up to 3 multiples leverage, Pilot is the first over lending protocol on the Heco chain. For users who have DeFi mining needs but have insufficient funds, Pilot can help users obtain greater returns per unit of time.

3.How about the background of the Pilt team？

Ziye，former OKCoin engineer Michael，Internet serial entrepreneur Kousan，former IBM senior developer The core technology team are generally from the top blockchain companies

4.How to farm? What is the farming logic?

You could check the 2. "Farming" part of this document

5. How to lend？

At this stage, you may not be able to feel the core charm of Pilot. We need to gradually experience our product Pilot as we gradually open up various functions. Simply put, when users want to farm, we provide tools with up to three times leverage to help users leverage greater returns, and the source of leverage is our synthetic asset pool.

6. How to get the liquidation rewards？

When the risk value of a user's loan position reaches our limit threshold, we will allow otrs to actively liquidate this position. The reason is that we want to protect the rights and interests of some users of Synthetic Assets to avoid the occurrence of the event of position wear. At the same time, after the liquidation is successful, the liquidator will receive 1% of the liquidation position as a reward for active liquidation.

7. What happens to the liquidated users？

When a user is liquidated, the user's position will be given priority to reward the liquidator, then the loan will be repaid, and finally, if there is any remaining part, it will be returned to the user's wallet.

8. How to reduce the risk value below 100%？

In the process of using leverage, when the user finds that the risk value of his leveraged position is too high, he can cover the position, or reduce the position to reduce a part of the position, which will reduce the risk value of his position to a certain extent and avoid being liquidated.

9. Recently, the heco chain is in an eventful season. Some projects have misoperations that have caused the currency price to fall, and even the project volume has run away. Everyone has a serious lack of confidence in the heco chain. What are the project's vision and ideas for the project?

The Heco chain currently lacks confidence in the Heco chain due to some reasons, but the development of things always has ups and downs, just like Bitcoin has experienced several mining disasters and was declared dead, but Bitcoin is still tenacious. Came over, and kept breaking new highs. We think the same is true for the Heco chain. After this round of adjustments, there will definitely be another prosperity in the future, which is why we insist on doing projects on the Heco chain. At present, we are focusing on products. Only by doing a good job first can the external value of Pilot products reflect PTD better.

10. What is the current progress of the project development? Are there any big moves that can be revealed?

In fact, the overall development is nearing completion, and now what we are intensively doing is the internal audit of the contract itself, as well as high-intensity testing, in order to ensure the financial security of users. Each feature will get through many tests before put online; in addition, the big moves are also in our planning. At this stage, we want to do what we need to do to the extreme, and then we will wait for the market feedback about the product.

11. What is the governance token for Pilot Lab?

PTD, as the governance token of Pilot, will act as the core utility token of the entire portfolio, including through the sharing of liquidity incentives through the provision of protocol and community dao governance. As Pilot continues to innovate and develop more features in the DeFi area, PTD token holders will be able to advise and vote on key protocol parameters and how products interoperate for all Pilot products. PTD tokens will continue to be the main tool for adjusting incentives for community builders and supporters, creating a strong DeFi community, and jointly helping to promote the development of Pilot.

12. How users deposit?

For example, user A deposits one of the supported assets (such as HT) into the protocol for the first time. Once the funds are deposited, the deposited HT will be added to the synthetic asset, the platform will give a pHT as the deposit certificate, and the pHT will be the synthetic asset. As the pHT will be affected by the price volatility of HT itself, the final interest earned is not fixed. Assuming that the user finally gets the interest of 0.1HT, the platform will eventually exchange 1pHT for 1.1HT to the lending users. The pToken, obtained by user A, such as pHT, represents the HT share of the total circulation she has deposited in HT. pToken is the tokenization of the user's loan position, and it is a token on the Heco chain of interest-bearing methods.

13. How the borrower farm with leverage?

Pilot provides a maximum of three times the leverage that only one HT is involved in farming, but now using three times the leverage, you can borrow two HT, or three HT to farm, its income is higher than one HT farming, but you have to pay a certain amount of interest. Take MDEX/USDT as an example, under normal circumstances, the borrower can get a 50% return, that is 1+0.5=1.5. If the borrower uses three times the leverage in Pilot, the borrower will eventually get 150% return, that is, (excluding interest) 1+1.5=2.5HT.

14.When the liquidation could be triggered?

When the total value of the borrowed assets of the user exceeds the borrowing limit, the position risk of the borrower will be under the risk of liquidation. Due to the volatility of asset prices, the risk value of the user's position may be too high. It is suggested that the user should control the risk value of the position in the subsequent process of farming with leverage to avoid being liquidated.

15. Can you give a comprehensive introduction to the overall situation of Pilot over-lending?

Pilot is an over-lending protocol based on Huobi Eco Chain. Users can earn interest by depositing supported assets in the protocol. We call these users who deposit assets lenders. The assets deposited by the lender will be transferred to a smart contract, which aggregates the total liquidity of each asset into a fund pool for borrowing by the borrower. The loan is not matched separately between the lender and the borrower but is drawn from the fund pool. The lender receives interest income from the interest paid by the borrower and distributes its proportion to the liquidity it provides. Once the assets are provided in the loan protocol, these assets will be used as collateral so that the lender can also borrow any assets that reach a certain limit. This means that any borrower must first provide assets as collateral to the protocol before withdrawing any loan.

16. Why don't you briefly summarize the advantages of PTD over other similar products?

First of all, compared with current common loans, what we Pilot offers is an over-lending protocol, in which others can only use $100 as collateral to lend assets of less than $100, while in Pilot, users can mortgage $100 and lend assets of more than $100.

17. What are the plans for the offline acquisition of PTD in the future?

The only way to get PTD is airdrop and farming, or trade on exchanges, later, we will activate DAO governance, which also provides PTD acquisition.

18. How will PTD guide people to use and grow?

At present, we take the product as the core, constantly testing and optimizing the follow-up functions, in order to bring users a better product experience, products are the top priority of Pilot, only excellent products can better drainage. In addition, in the follow-up, we will also activate Dao governance, we are open to listening to the opinions and suggestions of community members, and constantly improve and optimize products.

19. Why do I deposit 200 thousand USDT to farm, if I redeem immediately, it shows 196 thousand in balance, so does the fee charges me 2%?

When users inject liquidity into farming, if the invested asset + loan value does not meet the value of 1:1, (swap) will first be replaced with two currencies with a value of 1:1. And then inject liquidity.

When the user is in redemption, the system takes back the currency in which the user injected liquidity, gives priority to repaying the borrowed currency, and returns the rest to the user.

For example, if the current HT/USDT price is 15, the user invests in 1HT 3x leverage and borrows 2HT for a total of 3HT. Before injecting liquidity, replace it with 1.5HT + 22.5 USDT, and then inject liquidity. At the time of redemption: the contract takes the 1.5HT + 22.5 USDT injected by the user, gives priority to the repayment 2HT (without considering interest for the time being), the asset is-0.5HT + 22.5 USDT, and then replaces the negative assets of-0.5HT, and the user asset becomes 0HT+15USDT. In order to prevent the loss of users caused by transaction slippage and handling fees, we will no longer convert 15USDT to USDT and return it directly to the user.