Dear Community, for those who missed our last AMA with NanoNews few hours ago, take a look at the recap below. Some hints about the second product have been mentioned! ;)
1st Segment: PROJECT INTRODUCTION
Q1: Can you introduce yourself to the community? What is your background and how did you join Defhold?
Ans: 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.
Further to the DeFi hype of the past months, it appeared to us that there was still quite a lack in terms of products variety, especially as a lot of the products out there are generating their revenues through inflationary mechanisms. This is exactly what has brought us to the launch of the DefHold project!
Q2: Can you briefly describe what is Defhold?
Ans: DefHold aims to be one-stop-shop platform where traditional financial products will be 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.
Q3: What companies/projects do you see as competitors, and how does Defhold stand out compared to them?
Ans: As far as our transfer fee is concerned, various projects such as Core or even LID protocol (our presale partner) make use of this mechanism. However, in the DefHold ecosystem, it is only a means of guaranteeing minimum income to the stakers and farmers.
What really sets us apart from other DeFi projects is the EWF function, which aims to reward crypto holders in the long term for their accurate portfolio management.
Moreover, I’d like to point out that all our income streams will be non-inflationary, which is already a great competitive advantage compared to many other DeFi projects.
Q4: What is the use-case of the Defhold Token?
Ans: In addition to being the first product, DEFO will be the native token of the DefHold ecosystem.
As a product it will offer to stakers and farmers non-inflationary revenues generated by 2 streams: Transfer fees + EWF.
As a native token, it will enable holders to take part into the future fully decentralized governance platform. Thanks this governance platform, users will be able to vote for the launch of new pools (new tokens, different lock-up periods, etc.), changing the rate or the allocation of the transfer fee or vote for many proposals related to future developments within the DefHold ecosystem. Moreover, to be able to benefit of the future DefHold products people will always have to hold a certain amount of DEFO thus continuously maintaining the DEFO buying pressure.
Q5: What are the major milestones Defhold achieved so far & what are in future pipeline?
Ans: As of today, the top milestones which have been achieved were finding a top dev able to develop our first product but also willing to stay with us in the long run to implement all the future developments of our project. With Shehzad, our lead dev, I think we’ve found a top guy who has already worked and developed a lot of successful projects in the past.
Another major milestone was to grant the highest possible guarantee to our investors during the presale to avoid any exit scam. By being approved by LID and holding our presale on their platform, I think we’ve found the best way to offer a great deal to all the DefHold investors as their smart contracts will automatically lock 75% of the ETH raised and also time-lock our Team, Marketing 2 and airdrop funds for 10 months.
Our next milestones will be to offer a secure and reliable platform to the DefHold investors. To achieve this, a bug bounty program and thereafter a full audit of our smart contracts and platform will take place. We hope to finalize these 2 stages by mid-December. In the meantime, we’ll be also working on the fully decentralized governance platform to allow investors to fully take part to the DefHold project. Moreover, the second product of the DefHold ecosystem will also be a priority as we want to launch its Public beta version by the end of 2020 at latest.
Definitely an exciting year-end!
2nd Segment: TWITTER QUESTIONS
Q1: You named your staking withdrawal methods is Early Withdrawal Fee (EWF); what is the advantage this methods compared than other? What’s the criteria to joined on DefHold staking program?
Ans: I’d mention 3 major advantages this method offers compared to other existing DeFi projects:
– Non-inflationary income stream;
– EWF will incentivize stakers/farmers not to withdraw their assets before the end of the lock-up period thus reducing the circulating supply and increasing the buying pressure;
– Investors with accurate portfolio’s management will be incentivized and rewarded especially during market volatility.
Regarding the criteria to join any staking pool, the only one will be to hold DEFO but there won’t be any minimum amount except once additional token pools will be launched. These other pools will require to stake the amount corresponding to the EWF in DEFO.
Q2: DefHold goal is to secure assets during a market dump. Does that mean we get incentives when the market dumps? Can you please explain in detail regarding the purpose of DefHold.
Ans: Yes, DEFO is designed to reward investors who stick to their plan even in times of market volatility.
For instance, during a market dump (and more generally during market volatility) many stakers/farmers who haven’t properly planned their portfolio allocation may be forced to withdraw their assets even if the lock-up period is not over. This way, they will pay the EWF and remunerate other investors or long-term holders who managed to stay calm and not move their assets.
Q3: Defhold will launched a new product before the end of 2020 but it seems to be confidential. So what is the reason of confidentiality? Can you give us a little hint about the product and what maybe the impacts that it will bring to Defhold?
Ans: We’ve decided to keep it confidential in order to avoid it being copied by copycats especially as in the Crypto space every new innovation can be copied extremely fast if you aren’t cautious enough.
As a hint, I could already summarize it as follows :
– fully decentralized product;
– trendy product of traditional finance;
– can somehow be compared to a special purpose vehicle (SPV).
Q4: 75% of the raised ETH and 19.5% of DEFO will be allocated to Uniswap’s liquidity and will be locked by the smart contract LID. So how long will this lock take place and will this increase Defo’s liquidity in the future?
Ans: The initial liquidity will be permanently locked by LID smart contracts thus immediately and definitively reducing the DEFO circulating supply.
In the future, it is planned to further increase the liquidity by distributing EWF and transfer fee revenues more widely to farmers to increase their income and incentivize them to provide liquidity to the DefHold ecosystem.
Q5: Can you explain the distribution of DefHold? How many tokens will be minted? How many tokens will the team lock?
The total supply of DEFO will be capped at 12’000 tokens.
The distribution will be as follows:
– Presale: 29.8%
– Airdrop: 25%
– Liquidity: 19.5%
– Team: 10%
– Marketing 2: 9.70%
– Marketing 1: 5%
– LID: 1%
Regarding tokens’ lock, the Marketing 2, Team, Airdrop and LID tokens will be time-locked and released at a monthly 10% rate over 10 months by LID smart contracts.
3rd Segment: LIVE QUESTIONS
Q1: Why did you choose your presale to be hosted by Liquidity Dividends or LID? What is advantage that it brings?
Ans: We wanted to host our presale on their platform as it provides an additional guarantee to the investors especially as the team stays anon.
Q2.Does DefHold currently have an airdrop or bounty event ??? And where can I get more information about this project ??
Ans: Yes, we have an airdrop fund which will be released at a monthly 10% rate over 10 months. Each monthly release will be distributed to investors who are holding DEFO more than 1 month. For example, presale investors who are still holding DEFO 1 month after presale will receive the first one. This will significantly reduce any listing’s and further dumps!
Q3: COMMUNITIES gives a project a strong base, what are your plans on ” Global expansion and adoption ” with DefHold project ? Will ” $ DEFO ” holders be allowed to partake in the governance of this project ?
Ans: Community is the most important matter for us as DefHold will exist thanks the community and for the community! Currently, our community should help us spread our project as much as possible.
In the long run, we also want to get community involved in the project and get them skin in the game once the fully decentralized governance platform will be live. You will be able to vote for many proposals related to future developments within the DefHold ecosystem.
Q4: Alternatively, if you don’t think there are direct competitors, what sort of trends or obstacles do you think need to be overcome in order for DefHold to capture more market share?
Ans: As of today, we’ve not encountered much obstacles as the project in still in its early stage. However, we’ll of course have to face threats as time goes over especially once the project will go live. So far, we expect two major threats being Security and Copycats. Regarding security we plan to launch a bug bounty program and thereafter a full audit of our smart contracts and platform.
Regarding Copycats, the sole solution is unfortunately to keep the future products confidential until they’ll be ready to be launched.
Q5: Do u plan to burn any token supply? If so how do u plan to do so?
Ans: There is no burning process planned yet. Rather, our major objective is to increase the TVL thus reducing the circulating supply and increasing the buying pressure.
Q6: DeFi is booming. Defi is becoming a trend. It’s become a popular issue lately. Is DefHold just following that trend? Or are you well prepared to enter this space?
Ans: You’re right it became a trendy topic over the last months. Rather than following that trend, we want to bring new products into the DeFi space. Creating one more copy of an existing product is what we really want to avoid.
I think we’re done with this session. Unfortunately, we can’t answer all your interesting questions but we’ll remain at your disposal in our main group https://t.me/DefHold
Enjoyed being here today and let you know a bit more about our project!
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