Recapitulation of CraftingFinance PROJECT AMA event held at AMA LOVERS CLUB.
Venue: https://t.me/amaloversclub
Date: Tuesday, 14 September, 2021
Time: 14:00 UTC
The CraftingFinance PROJECT team was represented by @Tionyobed who judiciously shared with us detailed knowledge and information about CraftingFinance PROJECT.
1st Segment: INTRODUCTION
Q1: Can you please introduce yourself and your background, also introduce the team working on CRAFTING FINANCE?
ANS: Ok . I can’t say we have a very big team rather a medium size experts working on Crafting Finance project. I would be pleased to introduce the few of us who are :
Myself am called Obed Tiony , the Core contributor of Crafting Finance , a heavy Defi User and a Crypto early adopter.I got involved in Blockchain more than 4 years ago,thought Defi would be a really promising aspect of the whole crypto world and that’s why I got into this industry.
Milan Dzogan-Rich experience in operation and marketing in blockchain projects since 2018, Familiar with the media and community, also a geek in blockchain world.
ANRAY Z-Ambassador of Polkadot, Author of the Book “Introduce to Rust programming”. Master of Science in software engineering. More than 10 years’ program development experience. Familiar with blockchain product design, on-chain data processing and smart contract.
Dr. Owen-Ph.D. in Economics from University of Kentucky. Researcher in Cryptocurrency, Macroeconomics, International Finance, Monetary Economics. Expert in synthetic assets and token economics.
Q2: Can you introduce CRAFTING FINANCE, what critical problems does it solve that existing solutions are not solving and what's the competitive advantage?
ANS: Crafting Finance it’s a synthetic asset project, that provides the issuance and transaction capabilities of various synthetic assets, which can support the issuance and transaction of almost all types of cryptocurrency assets and real assets. The important modules of the product include MintR, Kingsman, and various synthetic assets (Raft, RaftStable, UnivRaft, BondRaft). MintR supports a variety of collaterals to generate various synthetic assets and even user-defined assets. The debt pool (SDP) model DEX used by Kingsman does not require counterparties, which solves the problem of DEX trading depth. Moreover , we are excited to announce that we add and support NFT fragmentation function.Crafting’s NFT fragmentation will be dedicated to solving NFT liquidity and trading issues, providing a huge impetus for the development of the industry.
The potential market cap for tokenized stock/debt/derivatives is thousands times over current crypto market, and Crafting Finance Estimated Synthetic Assets.
Potential Market would be more than 200 Billion USD.
Flexible Collateral - we will allow use of different kinds of Collateral in the Forge for example BTC , ETH,NFT,CRF,DOT, KSM,etc the collateral rate is different for each kinds of the tokens
Universal Raft-Raft will support almost all kinds of potential synthetic assets.
Optional Crafting-User could choose whether entering the SDP, which will allow flexible position choice.
NFT fractions-Crafting finance will support the NFT synthetic fraction rafts.
Low Slippage-Due to the sharing of the whole SDP’s liquidity, the price slippage of trading in Kingsman is significantly lower than existing exchanges.
Q3: Can you briefly describe the top milestones you have achieved and your target milestones with timelines, also share your roadmap?
ANS: I think the most important things currently are launching the platform, starting the liquidity and reaching a market cap of our RAFT. And we will focus on listing more kinds of synthetic assets and improve the TVL and market cap of the RAFTS. We will also launch our DAO system, which means Crafting finance will become a distributed project.
On our road map we have different stages of the whole project.Since we need to focus on the most important aspect and features, hence the need that we have to roll out these different features in stages.
Columbus is the First Version of Crafting Finance, we will launch Raft/RaftStable issuance, build SDP and Kingsman, and allow users to choose whether join the SDP
Zhangqian will enable the NFT Fraction, and the RaftBond will be online for issuance and trading.
Thorvaldsson-UnivRaft will be online for universal synthetic assets, user could use it to issuance smart assets.
Vasco da Gama -Will launch the brand-new oracle system which could feed every asset‘s price all over the world.
Q4: Can you briefly describe your PARTNERSHIPS so far?
ANS: Crafting Finance is backed by plenty of Institutional investors, The names are Signum Capital, CMS Holdings, NGC Ventures, Continue Capital, LD Capital, Longhash Ventures, Northbund Capital, PAKA Capital, SNZ Holdings, Spark Digital Capital, Titans Ventures, AU21 Capital, Magnus Capital, etc.
Q5: Can you give an overview of YOUR Tokenomics, and the UTILITY of the $CRF Tokens?
ANS: Yeah , i can see we coudln't miss to talk about Tokenomics of CRF .
Max Supply: 2,000,000,000
The Crafting Finance (CF) token is $CRF, with a hard cap of 2 billion
TOKEN DISTRIBUTION.
40% for liquidity Incentive
19% for offering and sale
1% for initial liquidity
14% for ecosystem partners
6% for project marketing
5% for advisors
15% for team
$CRF is the project token as well as the governance token. the parameters involved in CF, including the increase or decrease of the types of collateral, the adjustment of the collateralization ratio, the types of synthetic assets, etc., can be determined by voting by CRF holders.
2nd Segment: LIVE Questions
Q1: Good day sir💐
Will the NFT be worth a few million dollars soon? Do you plan to add NFT ecosystem to your project?
https://twitter.com/Miirzay/status/1437779726534389767?s=19
ANS: As i had said above when i was introducing our Project ,It's Yes , Crafting Finance will support NFT fragmentation function. Crafting’s NFT fragmentation will be dedicated to solving NFT liquidity and trading issues, providing a huge impetus for the development of the industry .
Q2: In Kingsman exchange, how will you address the issue of trading depth? In addition, what's the difference between Raft and UnivRaft on http://crafting.finance? Finally, what are the demerits for users that fail to join the SDP?
https://twitter.com/Lalaofafrica/status/1437767993287712775?s=19
ANS: Kingsman An exchange based on SDP , which provides conversion of different synthetic assets and contract trading. Due to the design characteristics of CF, this DEX does not require a counterparty, and there is no issue of transaction depth.However , Raft Simple synthetic assets , can be cryptocurrencies such as rBTC and rETH, stocks such as rAAPL, gold such as rXAU and any real-world assets and UnivRaft Custom synthetic assets means that users can issue any
kind of a financial contract through this system. By this way, we can stimulate any financial derivatives and include the whole world’s assets.
Q3: What is your plan for Global on Crafting Finance. Based in Nigeria where adoption of Cryptocurrency is raving through the country like wildfire, a lot of Crypto group have worked with us to promote their platform in the country. Would you be interested in increasing users of your platform by 1000 folds in a country of about 50 million active Crypto users ? Also, NFT is a hot spot in the crypto market recently, and its momentum could only be compared with DeFi’s at this time last year... What form of support is Crafting Finance offering to NFT Synthetic Fractionalized Assets
https://twitter.com/talk2fatty01/status/1437783166325043203?s=19
ANS: First and foremost thanks for reaching out i think its a good idea since we have to make our project global and as you that retail investors plays the vital role in any kind of a project, but especially ours since we believe that a certain times, retail investors are primed. With an appropriately timed and executed retail investor program, a company can benefit from a strong and powerful wave. There is always additional rewards for mining and attending the community at different region . About NFT , Crafting Finance will support NFT fragmentation function.which will be dedicated to solving NFT liquidity and trading issues, providing a huge impetus for the development of the industry.
Q4: Hi! 💹, RAFTs have 4 different class which are RaftStable, Raft, UnivRaft, and BondRaft. Can you please explain each? What are the main differences and why did you need to create them?
https://twitter.com/baykusbirligi/status/1437785922981007361
ANS: Actually , since we will be supporting NFT then we will be having another additional raft called NFTRaft.
NFTRaft The fractions of NFT assets, could be minted by any
one who has NFTs, support ERC721 and ERC1155 ,Raft Simple synthetic assets , can be cryptocurrencies such as rBTC and rETH, stocks such as rAAPL, gold such as rXAU and any real-world assets,RaftStable Stablecoins such as rUSD and rEuro,BondRaft Synthetic bonds are synthetic assets paying interest issued by the system,UnivRaft Custom synthetic assets means that users can issue any kind of a financial contract through this system. By this way, we can stimulate any financial derivatives and include the whole world’s assets.
Q5: For the weekly activity task, on what social media platform does it take place, how can we participate, and how many winners are chosen per week?
https://twitter.com/Zino76438566/status/1437768364647124993?s=20
ANS: We have several activities being done every week , please follow our social media and you will always be updated Crafting Finance Offical Channel
🌐 website: http://crafting.finance/
Twitter: https://twitter.com/craftingfinance
Telegram group: https://t.me/craftingfinanceofficialgroup
⛴ Discord: https://discord.gg/89upsrRUNY
Medium: https://medium.com/@craftingfinance
Q6: How does crafting Finance synthesizes any cryptocurrencies or stocks, bonds, gold or any other off-chain assets?
Can your users convert minted assets into other assets through the trading platform?
https://twitter.com/FemiOyinloye8/status/1437784467381362696?s=19
ANS: Forge Synthetic Assets Forge to produce Rafts, and that's why we have different kind of rafts and yes you can convert minted assets into other assets in our platform .
Q7: There are a lot and known projects and platforms that offers synthetic assets for its users like Synthetix and UMA. What can you say would be Crafting Finance's advantages against these synthetic assets giants and to its other competitors?
https://twitter.com/0JeanWayne/status/1437650042421059585
ANS: Crafting Finance come to solve the current market problem and this are our advantages NFT fractions-Crafting finance will support the NFT synthetic fraction rafts
Universal Raft-Raft will support almost all kinds of potential synthetic assets
Flexible Collateral-Different kinds of Collateral could be used in the Forge, the collateral rate is different for each kinds of the tokens
Optional Crafting-User could choose whether entering the SDP, which will allow flexible position choice
Low Slippage-Due to the sharing of the whole SDP’s liquidity, the price slippage of trading in Kingsman is significantly lower than existing
exchanges.
Follow Us On Our Various Social Media Communities For More Update;
Crafting Finance Offical Channel
🌐 website: http://crafting.finance/
Twitter: https://twitter.com/craftingfinance
Telegram group: https://t.me/craftingfinanceofficialgroup
⛴ Discord: https://discord.gg/89upsrRUNY
Medium: https://medium.com/@craftingfinance
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