Recapitulation of DEFI SCALE PROJECT AMA event held at AMA LOVERS CLUB.
Venue: https://t.me/amaloversclub
Date: Thursday, 20th May, 2021
Time: 14:00 UTC
The DEFI SCALE PROJECT team was represented by @Defiscale_team who judiciously shared with us detailed knowledge and information about DEFI SCALE PROJECT.
1st Segment: INTRODUCTION
Q1: Can you please introduce yourself and your background, also introduce the team working on DEFI SCALE?
ANS: My name is Slawomir, I am from Poland and I am one of the founders at DeFiScale. My background comes mostly from financial markets and gambling, but I was always involved with IT there. Here, at DeFiScale I focus mostly on business side of things such as:
-ensuring profitability oif our portfolio
-picking and launching new portfolio projects (projects within our pool)
Just a few more words about DeFiScale itself: we work in a model similar to venture capital firms. We focus on setting up or we invest in new blockchain projects with global reach and real business to be done, we help them grow and profit from it. We pick our portfolio very carefully, so currently we focus our portfolio on 2 market sectors: financial markets and gambling - this is where expertise of our team lies.
Our first few projects are already picked and these are projects that have already proven successful and profitable and we simply move it from non-crypto world into blockchain. To give you a bit more details: in the coming weeks we are launching FinBet - the first licensed financial betting platform, in the coming months we launch ShadowBit - a crypto online casino based on leading technology and with the best games in online market.
Our team is European and among key members we have:
1. Financial markets experts with around 20 years experience in Forex businesses, asset management, institutional trading etc. They come from leading brokerage houses, exchange and payment services, etc.
2. Gambling and entertainment experts - also with over 10 years of experience and previously involved with online casinos, betting houses and other gaming companies.
The team's structure and our "collective knowledge" is tailored to benefit from our business idea and to lead our first portfolio projects (such as FinBet or ShadowBit).
Essentially the innovation that we bring here is our expertise in financial and gambling markets that is used in crypto based venture capital focusing on seed projects.
Q2: Can you introduce DEFI SCALE, what critical problems does it solve that existing solutions are not solving and what's the competitive advantage?
ANS: Our mission is not to solve technical problems in the blockchain industry, but to introduce a model that has solid business fundaments. In our case, it is applying the expertise of our team and our partners to establish a strong market presence of DefiScale portfolio projects crypto gambling and financial services. So the problem, in my opinion, inherent in the blockchain industry, that we are solving is defining a clear path from establishing a project to its monetization. Especially monetization, via growing capitalization, for our token holders.
And of course, as this model is quite clear to people that come from financial markets, but not necessarily familiar with blockchain, so we solve the problem of bringing new people to the blockchain community.
Q3: Can you briefly describe the top milestones you have achieved and your target milestones with timelines, also share your roadmap?
ANS: The milestones that we have achieved:
First of all, we have begun our project in July 2020, so all we have achieved happened in quite short time. First of all, we have defined a unique model placing us within blockchain and yet quite near all of our non-crypto investors. We have named our model Venture Pad.
-We have identified and prepared our first portfolio projects and made them ready for investment and setup
-Then, we have successfuly closed 2 private sales of tokens for DeFiScale and then sale of tokens for our first portfolio projects - FinBet and ShadowBit
-We have launched DeFiScale staking platform
-We are at the finish line with FinBet as a platform (and it will launch still in May)
-We have prepared all the necessary steps to set up ShadowBit and we have signed the tech provider agreement with SoftSwiss - the leader in this field
Regarding the roadmap for the future, we focus on the nearest tasks at this stage and we work on multiple projects, so at the moment there is no fixed roadmap. But this is also something that we are working on and we shall publish our roadmap within a few weeks.
Q4: Can you briefly describe your PARTNERSHIPS so far?
ANS: Our approach to partnership is based on the strategy of DeFiScale as a Venture Pad. We initiate new projects with persons and entities that have a proven record of developing and managing successful gambling and financial projects in online and brick&mortar environments. Then we jointly develop and implement the model in DeFI. Such was the sequence for FinBet, ShadowBit (launches coming soon) and such it is for new financial projects creating bridges between FIAT and crypto. Details coming soon.
In terms of partnerships with the blockchain community, we are taking it slowly as defiscale, but rest assured that our portfolio projects will not all have the same approach.
Q5: Can you give an overview of your Tokenomics, and the UTILITY of the $DEFISCALE Token?
ANS: Total number of tokens to be minted: 2,1B. There were two sales of DFC tokens in the first one: 100M DFC to founders, 50M to investors, in the second round 50M to investors. Both completed in the Q1 2021. The rewards for staking on our platform as well as affilates' remunaration are paid out in DFC. The profits of DefiScale will be used to burn DFC.
In terms of utility, at present DFC grants better APR when staking at DeFiScale. All of our portfolio projects will however grant special utility to DFC tokens. This will be separate per project and each project will announce the utility or bonuses that having or using DFC grants for their users. The only thing that all of our coins are going to have in common in terms of utility is that there will appear airdrops that will be cross-tokens (i.e. DFC holders will be able to get some FinBet tokens or ShadowBit tokens and vice versa) - but I am not at liberty to share more details just yet.
2nd Segment: LIVE Questions
Q1: If anybody thinks your project really likes a scam project, and they can't trust this project. How do you make them believe in your project?
https://twitter.com/Clay_Jhansan790/status/1395341880557137922?s=19
ANS: We will just go on with our business. First of all, it is not just one project. It is a project that invests in other projects. Out of these projects, many will be regulated, so you will be able to see the licenses that allow these projects to operate. And then, you will be able to see that they are earning profits and paying them back to their investors - DeFiScale among others.
And, since our projects have closed initial token sales, we do not depend on new money flowing in to survive.
So, there is a number of reasons why we are NOT a scam. But the most important ones are time and profits. And you will see us here in years to come and you will see our profits year after year.
Q2: To be able to give out high profit rates of up to 25% steadily, what kinds of investments will you delve into with our deposits and how certain are you that these investments will always yield profits?? Also, is this the first project your team is working on together?
https://twitter.com/kerzy_f/status/1395381242863001607?s=19
ANS: Hi, thank you for your question. Please bear in mind that all of our projects are startups, so the potential profit is extremely high. We work in the most profitable legal sectors in the world - gambling and finance. And both drift towards crypto - mostly due to more and more regulatory requirements that are inconvenient to the customer.
Out of all of these projects, we have hand-picked a number that have proven successful in non-crypto world and according to our research and our customers will be even more successful in crypto world.
Q3: DeFiScale is similar to a venture capital company, enabling users to become the early founders of the project. How do you choose the project you want to create or invest in? Will it be limited to gambling forever? If the investment fails or fails, is there a plan for users?
https://twitter.com/future_is_btc/status/1395387871951945739?s=19
ANS: There are a few major criteria that we use to pick the projects. First of all - the potential. Please remember that even the best picked startup project (not just in crypto, anywhere in the economy) can loose all of investors money. So this is what we risk as the investors. But if it has potential to be global and earn 1000 times that much - then it is worth the risk.
The other thing that we look at is experience and dedication of the team of such project and our own expertise to guide this project as a venture pad.
Lastly, we look at the benefit of such project being in crypto.
The last criteria is the reason that we have picked gambling and financial markets as the first markets that we invest in. This does not mean that it will be limited to it forever. But this limitation stand until we have a firm profit base for further expansion.
Regarding potential failure of one of the projects - we do all we can to pick the gems of the market. As any seasoned venture capitalist, we are, however, aware that there will not be 100% success. This is why we build a portfolio of projects with massive potential. And even with 25% APR, the portfolio on average will profit much higher.
Q4: Currently, Defi scale only has USDT and DFC staking services. So in the near future, do you have any plans to expand more long-term Staking tokens? For each type of investment or staking, what is the Min and Max limit for each investment?
https://mobile.twitter.com/danielwat12/status/1395125648167817217
ANS: We are now working on adding more stable coins available for staking. Shortly after this, also our portfolio projects tokens will be available for staking at DeFiScale. We are not going to accept any other coins apart from our projects and stable coins though. On the other hand, deposits in various blockchains will be available shortly.
Q5: Q. Not every crypto user understands technical issues well enough. Has Your project prepared any informative material that could facilitate the use of inexperienced users?
https://twitter.com/MarkWei6699/status/1395388086599786496?s=19
ANS: This is why our project focuses on business side of things. And frankly, we have a lot of investors in the initial stage that purchased DFC as the first crypto in their lives - so in this area we are doing quite well.
Apart from this, we are working on preparing even more educational materials for the clients. And we aim to focus on such people - people that would like to enter crypto market but are not very tech savvy. I respect all the projects that focus on technical side, but please remember that crypto is an environment that can be used for business, not only for developing crypto. This is where we are.
And in fact, we are working on a project that will bring crypto even closer to non-crypto world.
Q6: Do you have plans to expand your platform at global level like Europe, South America, the continent of Africa, any plan to attract more users to their community who do not speak English so that they can understand DefiScale?
https://twitter.com/DVDH67322141/status/1395384087930605570?s=20
ANS: Yes, we do. Obviously, English is a good starter for global projects, but we look very enthusiastic at Asia and Latin America. With AMAs like this one, we are, however, still building our way of connecting with the community and communicating what DeFiScale is about in a way that everyone understands. Once we do the basics here, we will feel ready to move on to other languages.
Q7: KYC is very important for security....If not a KYC, we face a lot of security problems...without KYC how can you provide us more security advantage???and how can we login without KYC?? How can we benefit from having DFC?
https://twitter.com/Gamer10001865/status/1395377733606121476?s=19
ANS: KYC is an important issue to all of us. But there is a lot of places that focus on KYC - the exchanges where you buy crypto, most of the payment providers etc. We do not need to invade your privacy to allow you to stake your funds with us and join us on this great journey of being a serial crypto founder ;)
Follow Us On Our Various Social Media Communities For More Update;
Website: https://defiscale.io/
Telegram: https://t.me/dfcofficialgroup
Facebook: https://www.facebook.com/DeFiScale1
Twitter: https://twitter.com/DeFiScale1
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