Recapitulation of Blaze DeFi AMA event held at AMA LOVERS CLUB
Date: Wednesday, 16th December, 2020
Time: 16:00 UTC
The Blaze DeFi team was represented by @Amaword and @CrypticGirl. They judiciously shared with us detailed knowledge and information about the project.
1st Segment: INTRODUCTION
Q1 : Can you please introduce yourself and your background, also introduce the Team working on Blaze DeFi
Ans : I'm Anna from Blaze Network. I'm into Crypto since 2017.
I'm learning crypto, blockchains and many other things. And now I'm into DeFi space!
Team Blaze Network got me into this project. We come up with a good project concept since their main network goes DeFi!
And now, I'm here to share and spread the word for better understanding about Blaze DeFi and it's ecosystem.
- Team Blaze Network
I’m Amanda, A Crypto Enthusiastic, Professional Marketing Manager. With over 8 years of Crypto and BlockChain industry Experience. Behind the team, we have our Great Leader Mr Tony with Bag of experience as well as Bradley , Another Great hero, with me on the Event today Code. She has more to say
Q2 : Can you define what Blaze Defi is about?
Ans : Blaze DeFi is a feature of Blaze Network.
1. Multi staking (staking v1 is live, and staking V2 in Q1 2021).
2. Decentralized Gaming App
3. Exchange widgets
It’s a decentralized Finance Protocol of Blaze Network.
The Blaze Network in its self, is the solution provision for a new, Modernized Casino Industry. The project aim to revolutionize different industry along with online casino and betting industry. The Blaze Network has also Developed an all-in-one Erc20 wallet with a built in marketplace for buying and selling of goods and also including e-commerce like betting games in online casino. Currently development is ongoing on various area of the project, this includes
1. Blaze Wallet
2. Blaze (BLZN) tokens for betting in online casino (on-works)
3. Marketplace (on-works)
4. Blaze DeFi - Blaze DeFi (BNFi) is part of the ecosystem project of the Blaze Network that grew out of the bear market. It is aim to Empower and Support the BLZN Token, But work in Different ways and different Methods. obviously Online gaming community has become the new trend of world empire with countless number of Challenges being faced everyday. The bridging of this gap, is what Blaze Network is here for. and together with your support as well as others communities and members, I’m sure we’ll hit the Zenith of the world and achieve those great fist. As things are being done in an orderly manners.
Q3 : Can you introduce the Blaze Defi project, what critical problems does it solve that existing solutions are not solving and what’s the competitve advantage?
Ans : We are up into supporting DeFi first.
Then we come up to a yield farming concept, where numerous numbers of Rugpulls and hack exploit were reported.
So, we promote deflationary assets, means burns on every transactions.
Most of projects have minting problems, that is very known. That’s why, we gonna promote that not all yield farming can not result to rugpull.
Next, we have an actual and working product which makes, yield farming with product can really supports DeFi.
And we use third party platform like, Uniswap, Balancer, Unicrypt and Team Finance which is common and widely used in DeFi space.
And lastly, our main asset can be used as betting token in gambling, which makes our project is not just any listed shitcoins but with a difference.
Blaze App Wallet is available on Google Play Store. @BlazeDeFi
Yes the version is an Android version for now, But the IOS will commerce soon
It's very safe to use, has its own Dapps. One of the product release by Blaze Network.
Features will be added in Q1 2021 as per roadmap.
Q4 : Can you briefly describe the Top milestones you have achieved and your target milestones with timelines, also share your roadmap?
Ans : All our achievement so far are milestone, The Blaze Wallet is up and running which services as our working product currently. There’s a lot of exciting news coming up as well in 2021. So I urge you all to stay tune
Staking v1 is also live! https://t.me/BlazeNetworkAnn/321
Which makes Blaze network ecosystem supports each other.
2nd Segment: LIVE QUESTIONS
Q1 : As I see BlazeDefi already burn 17% from Total Supply, thats a big burn! Could you pls explain about BlazeDefi burn system? Did you burn every time user do transaction?
Ans : Yes 17% has been burned already, for every transaction made, 5% of the total is burned, So far this strategy of burning mechanism has worked so greatly well that the value of the asset and token are always been elevated
Q2 : Why you choose the deflationary mechanism? Blaze Network has a %2 of burn rate per transaction, but this always gonna be like that? Will this burning rate last for forever? Or it will change over time?
Ans : Blaze Network (BLZN) and Blaze DeFi (BNFI) have both deflationary assets.
1. BLZN got 2% burn rate
2. BNFI got 5% burn rate
We've launched BNFI just days ago! CMC and Coingecko listed.
The burning stops when 10,000 BNFI left.
BNFI total supply is 81,400. The burning will stop at 10,000 BNFI.
Q3 : Despite the problems/issues associated with the Ethereum, why did you still decided to build your network on Ethereum rather than other blockchains? And how compatible will Blaze DeFi be with ETH2.0?
Ans : It runs on the ethereum network. Our token assets were both deflationaries which the network really useful to the project.
We use deflation so the price value of each tokens will increase more!
Ethereum network is very complex and widely used in DeFi space is uniswap and Balancer which is really coincide to our project Blaze DeFi as DeFi itself.
Aside from yield farming, we have usecase also.
Q4 : With Blaze Wallet having a special and unique market, I wonder, how is it different from Uniswap or some other Swap?
Ans : Uniswap Is an Exchange, Swap also. Blaze Wallet isn’t just focusing on one aim, It goes beyond the Exchange that’s being developed, also reaches to the Marketplace where you can sell goods and other various project, This wallet will also being connected to the betting and Casino Platform, Along with the gaming built in System
Hello, our Blaze Wallet App is an erc20 compatible wallet.
It has it own Dapps that can connect to any web3 or like Uniswap.
The difference from it, it is a non-custodial wallet. Very safe to use, update of wallet app will be on 22.
More features will be added in Q2 2021 which makes it convenient to use.
Q5 : Where can I buy $BNFI and What will its initial price be? Will there be several rounds of sales of this token?
Ans : We’re listed on Uniswap, live at CMC and Coingecko, Pre sales is already done.
Q6 : Now, many DeFi projects pop up every day, and investors have adapted to DeFi projects. What is Blaze’s opinion on this, and how does $BNFI deal with it to maintain its leading position?
Ans : Hello, our project concept is to go DeFi that will support it's ecosystem.
Blaze Network launched Blaze DeFi perfectly.
As staking v1 is live! Both BLZN and BNFI have the chance to join the Liquidity staking and earn multiple rewards.
It level up the pools in Uniswap, and also our staking pool in Balancer.
BLZN and BNFi also is compatible to store in Blaze Wallet App which makes the project great, safe, and very useful especially in crypto users who avail it's services.
More features to happen in 2021.
Q7 : Im interesting to invest in your project, could u please share website or link about BlazeDefi token sale? how much minimum to buy your token?
Ans : Pre sales has already be done, And we’re listed on Uniswap, so you can make the purchase right now. Since its available
Q8 : What is the advantage of designing the BLZN infrastructure in a deflationary fashion and how is the part of each transaction to be burned determined and reflected in the token shortage?
Ans : The good thing about Deflationary assets are the tokens supply becomes much lower.
It is to lower the total circulation making each token precious in various ways.
As per staking or yield farming, it is very profitable since it leaves more ETH in the pool.
As demand increases, more burns happen, lowering supply, this increasing price.
Q9 : How many supply does Blaze have?
Ans : Blaze BNFI have 81,000 BNFI left, that’s 19,000 BNFI permanently burned, making circulation much thinner.
Q10 : Why did you decide to choose the erc20 ETHEREUM network for your token with the current high gas congestion? What benefits can this congested network offer them?
Ans : It services to our best interest and also the most popular BlockChain
Q11 : Can you please elaborate on how long term investors will benefit from the deflationary model of $BNFI coin?
Ans : As long as you stake your assets, your burned assets will be replaced by eth aside from the eth earnings in interests and rewards.
It's burns very fast resulting to low supply, leaving more ETH in the pool.
You actually selling tokens from it. It will avoid market crash.
Q12 : "Blaze Wallet" Available now on Google Playstore. What are the future uses for the Blaze wallet? Is it only to hold assets or can other things be used?
Ans : Blaze App Wallet is an erc20 compatible wallet.
1. You can store and send tokens.
2. It has its own Dapps, meaning you can connect it to another web3
3. You can connect it to uniswap.
More features will be added.
2. P2P lending/borrowing
Q13 : NFTs have been predicted to be the future of DeFi.Does Blaze currently have NFTs or have plans to incorporate NFTs in the nearest future?
Ans : This is currently being discuss. and we’ll have a community consultation on this, but for now, We ain’t thinking of NFTs but we’re likely to incorporate this in the nearest future, but for now we’re focusing on delivery our major target and product to the Globe
Q14 : I am an EXPERIENCED DEVELOPER AND ETHICAL HACKER, do you have plans for HACKATHON so as to check the security of $Blaze Defi ecosytem periodically and also invite developers to build?
Ans : We’re constantly upgrading and monitoring our Website, so trust me our security system is very much highly and well rated
Q15 : How you ensure us about security of your project $BLAZE what if your project will hack
What responsibility you will take..?
Ans : First, our Blaze App Wallet is very safe and secure. That even us didn't know you use it, we usually track it on number of downloads.
Second about token issue. There is no mint function, no hack exploit and no contract abuse. There is no problem.
Third, We use Uniswap, Balancer, Unicrypt and Team Finance which is widely used in DeFi space.
Fourth, Staking v1 yield farming. We use Uniswap and Balancer, very safe, no problem to use. You can stake and unstake anytime.
I'm looking for some negatives, but I found out. There is none, no problem my friend.
Q16 : Until now, BNFI has listed on Uniswap and Balancer Exchange. According to Q2,2021 in your roadmap, BlazeNetwork will impulse to develop partnership, so which partner will you associate with to promote your product and list on other exchanges in the future?
Ans : As times Goes on, this will be share for all to see, So I will advice you joined up with our community @BlazeDefi so as not to missed out on any information. For now I can not say because we don’t like speculations
Q17 : Where can I buy $BNFI and What will its initial price be? Will there be several rounds of sales of this token?
Ans : BNFI is live in Uniswap and Balancer exchange.
Let's hit BNFI #1 on Dextools.
Q18 : For investors $BNFI is listed on Uniswap exchange,so what makes them to buy and hold it for long term?Also which are the other exchanges that $BNFI is targeting to be listed?Does $BNFI have any burning program?
Ans : BNFI is live in Uniswap and Balancer exchange.
Let's hit BNFI #1 on Dextools.
The BNFI burns very fast, making circulation much thinner. Price will increase in due time, just give it time.
Can share where can buy tokens all social media?
Ans : Welcome to Blaze DeFi!
A decentralized Finance Protocol of Blaze Network!
BNFI Officially live on Uniswap!
Liquidity locked 🔐 1 year
Team Tokens Locked 🔐 for 2 years. Staking reserves were locked 🔐. It can only be unlocked per month for new staking tiers.
STAKING IS OFFICIALLY LIVE! YIELD FARMING (LIQUIDITY STAKING)
BNFI smart contract
Understanding Blaze DeFi
Blaze App Wallet is available on Google Play Store
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