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title: Nyan AMA Recap 19-2-21

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# Nyan AMA Recap 19-2-21

We had a fantastic conversation with Black Zero, the lead developer of Nyan.Finance which has come up with a fantastic new cryptoeconomic primitive that allows anyone to create their own descentralized hedge fund. This is, believe it or not, a scaling solution for uniswap traders who dont want to miss on the action by pooling their funds together and thus reducing their average transaction cost.

Products that bring people together have a special place in my heart, and the nerds will be exploring many interesting ways to create the best and most degen hedge fund ever. Read the full transcript below!



<center><iframe src="https://giphy.com/embed/U5ec4WU3d8ZIQ" width="480" height="420" frameBorder="0" class="giphy-embed" allowFullScreen></iframe><p><a href="https://giphy.com/gifs/cat-kawaii-pusheen-U5ec4WU3d8ZIQ">via GIPHY</a></p></center>





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Ataxia,
Black Zero i sumon thee you lurker

Black Zero,
[In reply to Ataxia]
[ 👋 Sticker ]

Ataxia,
hi bro!

Black Zero, 
Whats up man!

Ataxia,
BZ is the first dev that joined the nerd chat i think

Ataxia,
the OGest

Black Zero,
There are a ton of crazy smart people in here. Beyond just development.

Ataxia,
You among them my friend! You've made your own nyan ecosystem without anybody knowing lmao

Ataxia,
Can you tell us "your vision" for the thing?

Black Zero,
Nyan is a Decentralized Fund Creator that allows individuals to create custom pools that others can put liquidity in.

The ecosystem also has a staking mechanism for liquidity providers as well.

You can actually view more info on the updated site now:
nyan.finance

Black Zero,
We're currently on the ETH chain and BSC with plans to move to DOT

Ataxia,
Thats awesome! i love how the concept evolved from a centalized fund to a bunch of funds

Ataxia,
why did you make that switch

Ataxia,
Also, can I register a fund right now? the button is greyed out

Ataxia,
nvm it works

Black Zero, 
The switch primarily came from a prominent community member/mod when he pointed out that the ecosystem would have more versatility if it took on the role of being a 'Uniswap of Hedge funds'

Ataxia, 
i agree 100%

Black Zero, 
Most people in crypto tend to follow influencers that shill them early picks

Ataxia,
This puts you in a very unique spot

Black Zero,
If they had an opportunity to give that shiller liquidity to invest for them, I think they'd do it

Ataxia,
100%

Also in the context of what we do here this is fantastic

Ataxia,
I see ourselves as a community of traders, and have been looking at ways to invest together since we all have the same things at the end of the day

Ataxia,
https://etherscan.io/tx/0x45abbcbcbea1ea74f8ebbd23b3552e01d4ee38653f193126475e46029d827cb2

Ataxia,
How hard would be to deploy on XDAI and matic?

Black Zero,
[In reply to Ataxia]
It would be as simple as deploying on BSC. Most sidechains, if not all, support solidity and the ERC20 formats.

The key part is in creating the bridge for an atomic swap

Ataxia,
well at least xdai has an omni erc bridge

Black Zero,
[In reply to Ataxia]
With the speeds that BSC introduced, It completely sold me on getting Nyan on as many chains as possible in order to increase its market exposure.

Ataxia,
I deployed both on BSC and eth just now, how long until the Nerd funds show up in the UI?

Black Zero,
Also, if you use the Nyan Fund at the moment, I recommend using it on BSC instead of ETH

Ataxia,
also, is there a way to deploy from a multisig like gnosis? so its a comittee of traders instead of 1

Black Zero,
[In reply to Ataxia]
Yeah, a system could easily be implemented where movements required an approval of multiple addresses.

Black Zero,
It would simply be an extension of our Pancakeswap/Uniswap contract interfaces

Ataxia,
I'd love to work together to create some cool pools for the nerds in order to feature the funds being used

Black Zero,
[In reply to Ataxia]
Absolutely! As the Defi market grows, I think there will be larger demand for focused groups like this one that can actively manage funds for people that may not have the time

Black Zero,
The key aspect that Nyan offers is that the management is kept onchain.

Ataxia,
indeed, it would also do alot for the smaller guys who cant afford much gas

Ataxia,
all transparent

Black Zero,
Yep, transparent and helps address regulations around money transmission

Ataxia,
can people enter and exit whenever they please?

Black Zero,
[In reply to Ataxia]
A pool liquidity holder can exit a pool at any time for a proportion of any uninvested funds.

For example:

If a pool manager has 100 BNB in their pool and they place 30 towards a token investment, the user that wants to exit would only receive 70% of what they put in. That is, unless they waited for the pool manager to liquidate the investment.

However, I will be adding a feature where pool liquidity holders will be able to vote to cancel an investment

Ataxia,
thats awesome

Ataxia,
and in an enviroment with much more flexibility for gas it makes so much sense

Ataxia,
it also makes uniswap viable enough if you are having big money movements

Ataxia,
the manager pays for the gas out of pocked i assume right?

Ataxia,
BTW, the performance fee will be passed to the nerd DAO treasury, is there an easy way to reroute the performance fee?

Black Zero,
[In reply to Ataxia]
Correct, the manager would have to pay for any associated gas fees. Thats why I highly recommend using the BSC version over the ETH version.

Black Zero,
[In reply to Ataxia]
Thats an interesting feature that I didn't think about. I'll add a contract update that allows the pool creator to specify where the pool fees are sent

Black Zero,
For reference, the Nyan contracts are built on the EIP-1822 standard.

Black Zero,
This means that the Nyan contracts are easily upgradable. Nyan managers will be able to update the contracts over time without the need for a central developer

Ataxia,
oh so i can customize my fund

Ataxia,
dude

Ataxia,
hahah

Ataxia,
This is solid gold

Ataxia,
i've got a tokenlist deployer on list.nerd.finance maybe we could work on a system that auto updates the funds holding list for users to import

Ataxia,
your system is highly composable, im sure the yearn people would love to run a vault off of this too perhaps

Black Zero,
[In reply to Ataxia]
That would be amazing. Im open to collaborating to add more features to the ecosystem.

Black Zero,
[In reply to Ataxia]
I think once we see a few funds hit some degen pumps, people will be convinced

Ataxia,
Totally, this space is ripe for recruiting good talent and working off of each other's protocols.

Ataxia,
[In reply to Black Zero]
I hope we're the first ones

Ataxia,
So the pools i deployed should show up in the UI at some point right?

Black Zero,
[In reply to Ataxia]
Correct, Im finishing up a general pools page now that will show all pools along with quick stats about them.

Ataxia,
is there a way for people to interface with them already? or should we just wait, im kinda really excited about this rn

Black Zero,
[In reply to Ataxia]
Yeah, people can already add liquidity to pools and get pool tokens in return.

If you made a pool, you can see it on your pool page. Here's an example of someone's pool page:

https://nyan.finance/pool/0x3fb03a65f00c51c815cbdb54de843992332c5131

Thats on BSC btw.

Ataxia,
https://etherscan.io/address/0x868f7622f57b62330db8b282044d7eaf067facfe

Ataxia,
so this would be my pool?

Black Zero,
To see it, you can go to:

nyan.finance/pool/your-address

Ataxia,
aha

Ataxia,
good

Ataxia,
https://nyan.finance/pool/0x69eF61AFc3AA356e1ac97347119d75cBdAbEF534

Black Zero,
BOOM

Ataxia,
nice!

Ataxia,
[ Photo ]

Ataxia,
lfg!

Ataxia,
hahaa this is going to be so fun

Ataxia,
BZ im honestly super pumped to just try this

Ataxia,
is there anything else you want to tell us?

Señor,
May I ask a question?

Ataxia,
sure

Black Zero,
[In reply to Ataxia]
Im always open to critiques and changes so feel free to recommend anything :)

Señor,
I know you guys were talking about becoming regulatory compliant. As that is my field, I'm just interested in the process and how it has been going?

Black Zero,
[In reply to Señor]
The path to compliance is still fairly rough. Primarily due to the unclear path for the plethora of new financial platforms popping up.

The path for Nyan as a Decentralized entity will be to follow the path of Uniswap and log all activity and report it to the appropriate financial regulators.

Black Zero,
Apart from that, the impact of decentralized funds management will have different regulatory implications in across different regions

Señor,
[In reply to Black Zero]
I agree. Hopefully the new regime will be as crypto/defi friendly as possible. Difficult to know until the new ones roll out.  I'm not sure when exactly you guys launched, but there is a chance you will be in the clear anyway if they move forward with a safe harbor they have been discussing.

If anything you all should be acknowledged as ahead of the curve for even considering it.

Señor,
So kudos to you for that

Ataxia,
Yeah the problem is that i dont see how they can regulate it other than looking at the txs and going, huh nice

Ataxia,
but thats for them to figure out

Señor,
and for me to help people wiggle their way out of

Señor,
[ 🙋 Sticker ]

Ataxia,
hahahhaa 100%

Black Zero,
[In reply to Señor]
Hopefully, this XRP case offers some good clarity around the status of decentralized crypto tokens.

Black Zero,
[In reply to Señor]
[ 🍻 Sticker ]

Black Zero,
[In reply to Ataxia]
The biggest part to think about are the tax implications.

Señor,
[In reply to Black Zero]
You guys are already in a much better spot than they are. XRP has been begging for this by acting as if they are above everything. Wouldn't worry too much

Black Zero,
[In reply to Señor]
Agreed.

Ataxia,
Ok BZ i'm going to let the chat free thanks for joining man and i'll slide onto your dms for some tips

Black Zero,
[In reply to Ataxia]
Sounds good!