AMA with Black Ocean, building a crypto asset liquidity protocol in DeFi

4 min readMay 11, 2021


At 18:00 on May 7th, 7 O’Clock Community welcomed its 84th guest, Andrei Grachev, VRM CEO

7 O’Clock Community is one of the largest DeFi Communities in the world. It is initiated originally by 7 O’Clock Capital founding members, blockchain industry experts and enthusiasts to share knowledge of DeFi, and accelerate the implementation of blockchain technology in the real world. The community now enjoys 1,000+ subgroups, and covers 20k + active members, with the spread and report of 150 blockchain industry media.

Q1: BlackOcean is one of the hot stars in the crypto dark pool field, but dark pools are a little strange to common investors. What are the application scenarios of dark pools in crypto asset trading?

Dark pool is not somewhat new or revolutionary. It is a trading platform without public order book. The main goal is to hide very big transaction from the market and do not show influence on the price of an asset. The demand for dark pool services is quite new in crypto as whales started being active only at the end of the last year.

In fact, dark pool is an indicator of the matured market. As long as the market is not interesting for big players it stays on the very unprofessional level. Whales bring to the market volume, stability, new tools, new customers, new services. Thus, the whole market enters into the totally new life. Dark pool as a service was not on big demand till the end of the last year.

Q2: BlackOcean recently released the DeFi product roadmap. Please introduce it to our community members.

DeFi is primarily focused on retail and individual investors. This is the main difference. This add-on will bring the liquidity of many individual investors onto a new level allowing them to execute more profitable transactions for whales.

Let me give you example. Imagine that some bank, fund or corporation aim to buy 1000 BTC. They are ready to pay bigger transaction fee for this, especially if the price is stable. But there are just a few holders with such a big amount of BTC on account and the transaction like this are very rare. Black Ocean will give you an opportunity to pool thousands small funds into one and execute the transaction without market touch. The commission will be split among the pool holders.

Q3: What are the similarities and differences between the DeFi version of BlackOcean and Ren?

Our DeFi functionality is designed to serve FLY token holders properly and to offer them opportunities to make money with hottest activities on the market:

  1. Launchpad — we are aiming to provide token holder with private allocations from mainstream projects
  2. Decentralized dark pool — whales are able to manage transactions, users can provide them with loans and liquidity, and make APY from it
  3. NFT market — like an auction for for FLY token holders, they can buy expensive masterpieces and then sell it to whales
  4. Of course staking and liquidity mining for Fly token, current APY is 350% for liquidity mining and ±40% for staking

Q4: Which public chain will BlackOcean’s DeFi product be developed on? Why?

Black Ocean was developed on Ethereum, because this is a most powerful chain and when your token is ERC20, it’s much more easier for exchanges to list you. But we are going to open a swap solution, which will support token swap to BSC, Tron and Solana.

BSC will be availible next week considering DeFi functionality, BlackOcean will be moved to Polkadot following few months.

Q5: BlackOcean’s token FLY has opened two rounds of liquidity mining in Uniswap. When will it be available for BlackOcean’s own DeFi product Farming?

It is availible for now =)

If you provide Uniswap FLY-ETH or FLY-USDT with liquidity, you can farm additional FLY tokens here

But if you only want to stake FLY to earn FLY— you can join

Q6: After the first round of unlocking on April 30, FLY’s tokens bucked the trend and hit a new high. Is this magic operation the result of VRM’s market making or the natural game of the market?

This is a game of the market. Just for your information — VRM doesn’t boost or dumps a price, we just provide the market with liquidity and stay with market neutral position. Btw, there are not ony VRM, there are also 2 MMs , because of this fact it’s a really really proper, natural traders driven market.

Q7: Since BlackOcean is aimed at institutions and professional traders, the Chinese community has positioned FLY as the institutional version of BNB. Do you agree?

BNB coin is the closest token to compare FLY with. However there are big differences too. FLY is used to support trading eco-system so this means that all benefits are not limited with one exchange. We are aiming to serve a lot of exhanges and c2 trading venues + of course, institutional. It’s going to be like a token for the market.

Well, answering to your question, yes, it’s like an institutional version of BNB with DeFi functions.

Q8: Market sentiment has always hovered between FOMO and FUD. Because of the sideways market in the past two days, our community members are looking forward to new positive news. May I ask what plans will empower FLy in the near future?

Yeahhhh)) there a lot — next week open BSC swap and pair on Pancake swap, then we will launch our own Launchpad and DeFi dark pool.

Please remember — every week FLY is going to be listed at least on one new exchange =)

Risk Warning: all articles of 7 O’Clock are not to be adopted as investment advice or reference. Investment has risks. So please be cautious.




7 O'Clock Capital, A Crypto Asset Venture Fund Focused on DeFi