On December 2, our CEO attended to an AMA hosted by Crypto Revolution. For those who missed this great AMA, you will find the full transcript below. Don’t wait any longer to read it out and share it as much as possible!
INTRODUCTION AND TWITTER QUESTIONS
Danny | Crypto Revolution: Defhold AMA is starting. Welcome Artega. Glad to have you with us today. Chat is muted.
Artega: Hi Danny, nice to meet you all for this AMA.
Danny | Crypto Revolution: Could you please introduce yourself and tell us how did you get involved into Crypto?
Artega: Well, my colleague Pisa (COO) and myself (CEO) know each other since many years having worked together in some well-known asset management companies. Since 2016, we’ve been involved in the Crypto space as more and more of our customers were willing to get an exposure to crypto projects.
Danny | Crypto Revolution: You think BTC will have new ATH this year? Reminding us the crazy 2017.
Artega: Can’t forget that one. I think the biggest question is to know if it’ll be before or just after the year end.
Danny | Crypto Revolution: Haha. Yeah. Nobody can’t. Could you please describe what is Defhold in few simple sentences?
Artega: To keep it simple, DefHold aims to become a one-stop-shop platform where from traditional financial products are converted into new and innovative DeFi products. In addition to providing new DeFi products, the main problem we want to solve is to avoid providing any inflationary products that can’t be sustainable in the long run.
In the course of the next year, we truly expect to offer a wide range of diversified investment strategies and become a reference platform for DeFi products.
Danny | Crypto Revolution: So many Defi Projects out there. How you guys different from them and why people have to choose you?
Artega: As mentioned above, by the inception of DefHold our main purpose was to offer to crypto investors new products, all generating yields in non-inflationary ways. We’re convinced that there are still so many products out there which can be converted into crypto products.
As of today, most DeFi platforms follow a business model based on inflationary tokens leading to catastrophic failure from multiple threats by continuously minting new tokens to enhance their yields. So to summarize, I’d say our real added value is to propose non-inflationary products and brand new products.
Danny | Crypto Revolution: Where people can buy Defhold? And could you please mention few words for the Tokenomics?
Artega: Currently, DefHold is listed on Uniswap (see below link) and Bilaxy: https://info.uniswap.org/pair/0x0b316150f91dbd9a234b870cc75aaf57def1be43
Regarding the tokenomics, the current circulating supply amounts to 6,516 DEFO. The remaining tokens are allocated as follows:
- Team: 1,200 DEFO
- Marketing: 1,164 DEFO
- Airdrop: 3,000 DEFO
- LID: 120 DEFO
All these tokens are time-locked for 10 months.
Danny | Crypto Revolution: Airdrop?
Artega: Yes we’ve created this airdrop fund to reward presale investors who didn’t sell their tokens. Thanks to this fund they will get monthly rewards for their early investment and trust.
Danny | Crypto Revolution: Oh nice. Never heard anyone else who did that. Your Contract is audited?
Artega: The token contract has been audited internally by LID to be able to launch our presale on their platform. Moreover, the contracts of our 2 futures products will be finalized this weekend and their audit will start next week.
Danny | Crypto Revolution: Thank you. What about the team? Is it anonymous or public?
Artega: We’re an anonymous team. It is why we really wanted to partner with LID for our presale to offer a good guarantee to every investors.
Danny | Crypto Revolution: Thanks for the Introduction man. Jumping straight to Twitter questions now.
Q1 from @cengizhantekin
You have 5 Staking pools in your system with different EWF. As time pass you transfer the stakers to an upper pool which has lower EWF. What about the staking income? Is the ROI same for all pools, if so why would an investor stake for longer period?
Artega: You’re right. Each time a pool reaches the lock-up period of a faster pool, investors funds will be automatically transferred into the faster pool (in this case the EWF and rewards will automatically change to match those of the pool in which the tokens are transferred). Therefore, as most of the revenues will come from the EWF, decreasing its rate will also decrease the ROI of funds being transferred into an upper pool.
Danny | Crypto Revolution: This is pretty impressive.
Artega: Thanks! Hope to see you staking there.
Q2 from @thanhhoai91
Defhold claims to be the future of finance, I’ve heard of many DeFi projects lately with the same goal, what does Defhold have different than them?
Danny | Crypto Revolution: You answered part already. If you can add something.
Artega: Yeah almost.
Danny | Crypto Revolution: Something to add? Lol.
Artega: We’re not going to claim that we’re the future of finance (at least for the moment). First we’ll have to already become a significant project in the DeFi industry. What I can say and guarantee is that we’ll always try to develop and offer new investment products to every crypto investor, not just copies of other projects/products. Think that’s already a huge difference compared to many other projects.
As you might have noticed, the features offered by our 2 products (EWF pools + Whale Club to be released on the 24th) will be truly innovative and propose diversified strategies to earn revenues. Moreover for 2021, we already have a lot of ideas to deliver products extending the DefHold ecosystem.
Danny | Crypto Revolution: More insights for the Whale Club? Will be only for Whales?
Artega: Tbh, I already love it! For further details, the best way is to have a look at our latest medium post: https://defhold.medium.com/defhold-whale-club-a37ba8ec242b. The detailed figures and working process will be announced this weekend.
Danny | Crypto Revolution: Great.
Q3 from @Ontortk
Many projects rug pulled and exit scam recently. Why should investors trust your project not to do the same. and In your opinion, which is more important for the DefHold and why? Community, Investors, Market or Exchange.
Artega: I’d say Community, Investors and Market are the most important things for any project as they are the ones bringing the real value to a project and the ones you have to satisfy. Exchanges are of course also important but, in our opinion, they are mainly an additional “marketing” tool as they allow you to attract new investors through their users database.
As regards to rug pull, you’re unfortunately right that this is a major issue currently. It is exactly for that reason we’ve partnered with LID for our presale. To protect our investors from any exit scam, LID guaranteed a «rug-free» presale as 75% of the ETH raised have been allocated permanently to Uniswap liquidity. To date, it represents $700,000+ definitively locked as liquidity. Moreover, they also guarantee 45% of the token supply (team, marketing and airdrop funds) being time-locked for 10 months by their smart contracts.
Danny | Crypto Revolution: Thanks for the great answers man. Ready for Quiz Part?
Artega: Yes ready to go.
Question: How will the Whale Club benefit to DEFO stakers/farmers?
Best answer: Whale Club will generate additional revenues for stakers/farmers also.
Question: When are the 2 DefHold products expected to be launched?
Answer: 24th Dec.
Question: In how many transactions will the Whale Club funds be divided while buying underlying assets?
Question: What is the highest early withdrawal fee in the EWF staking pools?
Answer: 33.3% of staked DEFO.
What is your background and how did you come to the idea to create your project?
Artega: As mentioned, we’re both asset managers so we have a financial background. The idea to launch this project came from the fact that we’re convinced that there are still so many products, strategies which can be converted into DeFi products.
What mechanism will DefHold use to attract investors? What factors enable later investors to actively join in and believe in a long-term project, thereby further promoting ecological development?
Artega: I think the mechanism which will organically grow DEFO adoption is our plan to offer an ability to invest into other projects thus attracting also investors from other tokens. For the 2 first products, the plan is:
- For the EWF pools: add EWF pools for other tokens and people just have to pay the penalty fee in DEFO.
- For the Whale club: people will be able to invest in underlying assets and secure profits through other projects they belove.
What pools will be available at the launch of DefHold for Farming? Will it be only with ETH? Will it be possible to farm with other currencies such as USDT?
Artega: Initially, farming pools will enable DEFO/ETH and DEFO/USDT pairs. As regards to the Whale Club, the investment will have to be made in USDT or USDC and entrance fee paid in DEFO.
What would you consider as your main market globally at the moment? What are your plans regarding the global expansion of DefHold?
Artega: Currently, our targets are the US and EU markets as it is where we have the most experience. Once we’ll have a good position in these markets, Asia will of course also follow but we’ll need to secure partnerships/connections there to be able to reach enough investors.
What are the ways that generates profits/revenue to maintain your project and what is its revenue model? How can it make benefit win-win to both invester and your project?
Artega: Investors benefits are generated through tokens buybacks and distribution of fees & profits of future products. Project sustainability is ensured through an allocation (5%) of the fees, profits, etc. generated by the products to the developer fund.
“Token burn” is beneficial for any project, in being able to control the number of token circulation and to provide greater incentives to investors. Does your great project have a plan about token burn?
Artega: You’re right that it offers price support to investors. However, as our total supply is capped and no further tokens will be minted, it isn’t our objective to burn tokens. We’ve prefer implementing solutions which will decrease the circulating supply due to an increased amount of tokens staked.
Our objective is to offer interesting rewards to incentivize people to stake their tokens thus increasing the DEFO scarcity
While you build your project, do you take into account community feedbacks and demands?
Artega: Initially, we’ll launch the products with the figures and features we have decided on our own. However, community feedbacks are of course a priority for us. Therefore, we plan to launch the decentralized governance platform after the 2 products to allow people propose any changes/improvements to the project.
Does the price of the token matter to you from an operational perspective, if the token price is $1 or $100?
Artega: Price is, of course, a matter to which we must pay attention especially as it will reflect the performance of the project and also increase our investors’ satisfaction.
What is the business model of your project? How it works for users? and Who are your potential customers and which markets are you targeting on?
Artega: The business model is to launch a wide range of investment products (generating fees and profits) which will increase the DEFO demand and increase the rewards for stakers and farmers contributing to the DefHold ecosystem enhancement.
Bankless can be understood as de-banking (de-banklized), people think DeFi works in this way, do you agree?
Artega: I’m a 100% bankless guy. Unfortunately, in the very near future we won’t be able to deal without banks. I think that DeFi has a great potential as it allows people to manage their assets without custody. However, to increase the adoption of this industry, there will be a lot of efforts to be performed for education and most importantly for security.
Danny | Crypto Revolution: Lol. I’m back man. You are Hero. Final Words for Community please.
Artega: Hope that most important questions have been answered. In case you’d have any further questions don’t hesitate to join our community to ask us.