Date: Thursday, 5th November, 2020
Time: 08:00 UTC
The DefHold team was represented by @cryptoartega. He judiciously shared with us detailed knowledge and information about the project.
1st Segment: INTRODUCTION
Q1 : Can you please introduce yourself and your background, also if you have a team introduce them
Good Morning everyone, first of all we’d like to thank you for hosting this AMA and give us a chance to let people learn more about our project!
Basically, we’re 2 founders; Pisa, acting as COO managing the day to day workflow of the project and myself, Artega, acting as CEO of the project. We know each other since more than 15 years now and have been working together in some well-known asset management firms. Since 2016, we’ve been involved in the Crypto space especially by bringing many of our investors into 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 : So you have introduced yourself, so we will now expect you to introduce the Defhold Project, what critical problems does it solve that existing solutions are not solving and what’s the competitve advantage in this DeFi season
Ans : As mentioned above, by inception of DefHold our main purpose was to offer to crypto investors new products, all generating yields in non-inflationary ways. As former traditional finance guys, we believe that there are still so many products out there which can be converted/adapted into crypto products.
As of today, most DeFi platforms follow a business model that depends on inflationary tokens leading to catastrophic failure from multiple threats by continuously minting new tokens to enhance their yields.
The first product of the DefHold ecosystem will be the native token DEFO which will offer 2 non-inflationary revenues’ streams to stakers and farmers. Indeed, the revenues will be generated by a transfer fee applied on the DEFO transactions and by pools with different lock-up periods which will retain an early withdrawal fee in case the stakers/farmers withdraw their funds before the term of the selected period.
In addition to being non-inflationary, these mechanisms are designed to reward people who will have the best portfolio’s and own liquidity’s management and increase the number of long-term holders.
Q3 : Can you briefly describe the Top milestones you want to achieve with timelines, also share your roadmap
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 which has already worked and developed a lot of successful projects in the past.
Another milestone which was important to us was to grant the highest possible insurance to our investors during the presale to avoid any exit scam, occurring on a daily basis in the DeFi space. 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 also be 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 : If the EWF isn’t applied, what happens to the stakers assets? If additional $DEFO token are not minted, what will enhance the stability of the market price of $DEFO during demand and supply?
Ans : You’ve mentioned quite a good point regarding the future minting’s concern. There will never be any additional DEFO minted in the future. The max supply is and will always be 12,000 tokens. This capped supply will offer an additional buying pressure on DEFO.
Moreover, regarding the EWF, they will always be applied as it is one of the 2 mechanisms enabling DEFO stakers and farmers to benefit of non-inflationary revenues.
Q2 : What is the transfer fee that will be applied on every DEFO tokens’ transfers which will be redistributed to stakers and farmers?
Ans : The transfer fee will amount to 2% and will be applied on every DEFO transfers. To earn a share of these revenues, people holding DEFO will have to stake of farm them into one of the available pools. Initially, the transfer fee revenues’ allocation will be as follows:
- 5% to developer fund
- 40% to stakers (equally shared between all the staking pools)
- 55% to farmers (equally shared between all the farming pools)
In the future, the decentralized governance platform will enable DEFO holders to change the rate or the allocation of the transfer fee.
3rd Segment: LIVE QUESTIONS
Q1 : One of the major concern of DefHold during the inception of the project is to increase the number of long-term holders. What mechanisms are in place to achieve this?
Ans : As a product, DEFO will have two mechanisms to increase the number of long-term holders.
The first one is the DEFO product itself which aims to incentivize people holding their tokens over long periods thanks the EWF mechanism.
The second one relates to our 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!
As an ecosystem DefHold aims to be a one stop shop platform for innovative DeFi products. The second product is expected to be launched by the 2020 year-end at latest and we’ll continuously seek for implementation of new innovative and non-inflationary investments’ products.
Q2 : What mechanisms does DefHold use to continue generating income for DEFO stakeholders and farmers?
Ans : There’ll be 2 revenues’ streams for stakers and farmers. The first one will be generated by a transfer fee applied on the tokens’ transfer. The second one will come from the EWF applied on withdrawals performed before the end of a lock-up period. Most important thing to keep in mind is that both will generate revenues in a non-inflationary way!
Q3 : Q1-Regarding the allocation of DEFO token, it will be allocated to marketing 1 and marketing 2, what is the difference between both marketing?
Q2-Can You please tell Us about $DEFO staking? What’s the reward like? What’s the minimum amount I can stake? Where can I stake presently?
Ans : Q1:
Correct, 5% will be allocated to Marketing 1 and 9.7% to marketing 2 fund. The main difference between them is that the Marketing 1 fund will be available immediately after Uniswap listing, unlike the marketing 2 fund which will be will be time-locked and released at a monthly 10% rate over 10 months by LID smart contracts
Q4 : The supply of DefHold is very low in comparasion with projects with similar ideas, so do you have plans to increase or reduce the supply in the near future?
Ans : In my opinion, supply can only be assessed by linking it with token price.
Regarding future increase/decrease of the supply, there won’t be any as the supply will always be 12,000 DEFO.
Q5 : It’s will presale on lid but How soon will the presale on lid start?
Ans : Presale will start on November 18th at 9.00 AM PST
Q6 : 1. 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?
2.What role does DEFO play in the Defhold platform, is it different from native tokens of other platforms?
Ans : 1.
The liquidity allocated to Uniswap’s pools by LID will be permanently locked by themselves.
Moreover, as you’ll see on our website https://defhold.com/ EWF and transfer fee revenues are distributed more importantly to farmers to increase their revenues and incentivize them providing liquidity to the DefHold ecosystem
Q7 : Whatare ur project advantage over other project
Ans : I’d say that the main advantage over other projects are the non-inflationary generated revenues. Moreover, the features are also designed to reward long-term holders by other ways than just waiting price to pump.
Q8 : 9.70% of all your tokens will be used for marketing. Besides the AMAs, what other advertising strategies have you designed to make Defhold known in the world of cryptocurrencies? have you established any association in that sense?
Ans : 14.7% will be used for marketing in total ;)
We’ve also scheduled a lot of press releases and articles in the coming days and weeks to gather attention of many investors and hopefully also attract non-crypto investors once our products will be launched. We’re also continuously seeking for influencers and AMAs like this one helping us promote our project and getting as known as possible.
Q9 : I am a crypto investor and I only care about prospect of a crypto that I chose, give me 3 reason why I should choose $Defhold token over the existing one ? What is your token advantage that can convince me to change from my favorite token ?
Ans : To summarize, I’d say:
1) Non-inflationary revenues
2) Long-term holders rewarded by airdrop and the DEFO mechanisms
3) Increased buying pressure as it’ll be mandatory to hold DEFO tokens to be able to use the future products
Q10 : What makes DEFO unique that might attract investors to save $DEFO in the long term?
Ans : The DEFO mechanism itself is an incentive to reward holders in the long run. Moreover, the 25% airdrop fund to be released over 10 months will only be distributed to people holding DEFO more than 1 month.
Q11 : - After the staking period is over, the funds are automatically redirected to the next smaller pool, but I get lower APY. Can I withdraw those funds and put them back into a longer pool with higher APY?
- 25% of DefHold's total supply is destined for Airdrops. Will this amount be released at the beginning of the project or will these Airdrops be made over the years? How will you avoid a sudden drop in price due to these tokens?
Ans : Q2:
The 25% airdrop fund will be time-locked by LID smart contracts for 10 months. It will be released at a monthly 10% rate over 10 months
I think we’re done. There were quite a lot of very interesting questions. Sad to not being able to answer them all!
However, we’ll still be available in our main chat https://t.me/DefHold to answer your future questions.
The presale will be hosted by LID protocol on their website. A dedicated page will be created few days before the presale start.
As soon as it'll be ready we will share the link on all our social medias.
So don’t forget to join our community!
🔹 Telegram: https://t.me/DefHold
🔹Announcement channel: https://t.me/defholdnews
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