Recapitulation of Flourishing Capital AMA event held at AMA LOVERS CLUB
Venue: https://t.me/amaloversclub
Date: Sunday, 22nd November, 2020
Time: 15:00 UTC
The Flourishing Capital team was represented by @Tsaishen and @GhaleonCDX. They both 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 Flourishing Capital
Ans : Nice to meet everyone here and thanks for giving us the opportunity to do this AMA
@GhaleonCDX is a serial entrepreneur, digital entertainment, and fintech industry veteran as well as a crypto enthusiast. He taught himself to program games at age of eleven, After working for famed entrepreneur Sam Altman, he was inspired to start his first company, Andrograde Arcade in 2008. While at Andrograde, he developed a currency and microtransactions platform to support Andrograde freemium games, leading him to spinoff a company for the microtransaction economy platform later acquired by PayPal in 2010. Will moved into leadership roles at successful online game developers Gree and Kixeye before moving on to co-found a 3rd development studio company in 2013 named Wicked Fun. Most recently applying his development experience for Nvidia, Will became increasingly interested in the crypto coin space.
He began day trading in 2017, developing a high frequency trading solution for his own needs. Seeing a gap in the crypto space for an easily accessible, crypto advisory and high frequency trading platform for new investors, he launched his own crypto startup in 201
As for me, @Tsaishen, I’m a serial entrepreneur, sales leader, internet technology veteran, and crypto enthusiast. I began programming at the University of Texas, pioneering online student testing prior to widespread software as a service adoption in the late 1990’s. He moved on to technology sales leadership roles at fast growth silicon valley startups such as Oracle-NetSuite and Aria between 2001 and 2010, leading both to market leading positions, and eventually IPO. Seeing a gap in microtransaction platforms for digital media properties, he launched Doubloon, a virtual economy, billing, and microtransaction platform for digital properties. I became interested in crypto during my work with Oracle, JP Morgan, and Google as a consultant.
Q2 : Can you introduce the Flourishing Capital project, what critical problems does it solve that existing solutions are not solving and what’s the competitve advantage
Ans : I’m involved because Rekt Noobs is bad for us all. It doesn’t grow the community. But there’s a lot of hype out there, So new comers don’t know where to start. If they succeed, the community grows. Your holdings grow. And our crypto community is more stable. That’s the dream. And that’s why we’re not keeping this to ourselves - we want a healthy community so we can all succeed. And that’s the critical challenge Flourishing AI addresses
This is the factor that gets us excited every day we wake up. Crypto holders often have band information, and hype out there. Not great information to make decision
Now there are some bots out there which are "do it yourself" and other managed bots. They all work the same way: technical analysis. That is ,they try to find resistance bands and try to buy the dips and sell into the highs. But Technical analysis is limited, and flawed. Flourishing AI is different.
Flourishing AI does look at TA, but more importantly, it runs deep analysis of the blockchain itself. That is a large amount of data the platform analyzes, and then reacts to that in fractions of a second in some cases. With technical analysis you end up overfitting to historical data without getting an understanding of what actually drives markets and what is going on under the hood.
One of the first things I did when developing our trading bot was actually to run every combination of technical indicator with every setting and run it on the historical data of every coin. It took quite a long time to run even optimized for multicore/multiserver. The end result was that there is no combination of indicators that ultimately fits historical data and also has predictive value in a general way.
At that point I did a lot of research into blockchain, exchanges, how market makers work, signal analysis etc etc etc reading not only existing books but also PhD research on it and uncovered a series of analysis methods which work in a generalized way because they track the actual money flow through the crypo space. The money flow is sampled via exchanges, orderbooks, blockchain wallets and transfers
Via my experience at NVidia I learned quite a lot about deep learning AI and was able to combine that together with this information in a way where we have a system which gathers all this data and learns as it goes
Of course we also built in all the modern portfolio management techniques out there to manage risk. This is miles ahead of existing trading bots and even robo advisors in traditional financial markets available today
Q3: Can you briefly describe the Top milestones you have achieved and your target milestones with timelines, also share your roadmap
Ans : We think the biggest milestone we’ve achieved is full launch, where both new and pro crypto holders have access to data they would never get before, and the ability to have the AI transact for them. I know that is high level, but let’s talk specifics
First, the platform went live early this year and has paying customers on it right now. This is not a whitepaper or idea, this is a profitable platform.
Another of the biggest milestones is integration with Binance, BarterTrade, and Bittrex exchanges. For example, with BarterTrade, a trader signing up will (upon December release) be able to use a brand new interfact to interact with the AI
It looks like this:
Yes, they are all live right now (Binance and Bittrex). But Bartertrade is the first to have AI controls built right into the exchange, so we’re super excited about that
Now let’s talk future milestones. This is where it gets really interesting.
So we built this portfolio management system and we could have stopped there and been fine. But as you know me and @Tsaishen are serial entrepreneurs and this is our nth startup. Honestly we are both at the point of our careers to where we want to do something more than just make money. And this is a common question we get: why not just make the bot and make money and keep it for yourselves? It’s because at this point in our lives/careers we are wanting to make a real impact on society. And this is a big difference between older/more experienced entrepreneurs and young ones
So where are we going? We see today there is this split in crypto between defi sphere and centralized exchanges. We believe these ecosystems really should be complementary to each other, so we are building a bridge between them — a bridge service which we have already partially built just by having built what we needed to for our trading bot. This bridge service will have DApps and exchanges as our customers and will allow exchanges to take on features that DEXes have like the ability to do liquidity mining via user hardwallets and DEXes to have abilities like centralized exchanges like the ability to do complex orders.
There’s more details in our whitepaper.
2nd Segment: TWITTER QUESTIONS
Q1 : Thank you FAI for the automated trading initiative for especially new crypto investors to navigate their ways through a volatile market system could you throw more light on the profit sharing formula for both the company and the investor?
Ans : profit sharing formula is multifaceted
By using the bot, investors profit over time. We have deals with exchanges that pay us for adding liquidity to their exchanges by getting accounts that would otherwise just hodl to actively trade. We also profit by charging the subscription fee for the bot service.
We also are working on market making deals with other coin projects to bring liquidity for their coin into circulation
this this goes into our liquidity mining stuff explained in our whitepaper
I can get into more details but I think we should move along
Q2 : How $FAI complements and contributes to the ecosystem? What special characteristics does it have? What benefits does it bring to the owners?
Ans : Thanks for the question. First, FAI is used for subscriptions to the platform.
So it’s backed by real economic activity, happening right now
FAI also allows us to have certain conversations with exchanges
as well as build in our DeFi yield farming stuff
Think of how comp tokens work
so they are a yield farming payout, will be used as collateral for certain things, also a governance token etc
These are all things that are upcoming, the subscription fee will be happening immediately
but there are staking tiers too
oh yea the staking tiers I forgot, they are in our whitepaper of course also
Benefits depend on stake tiers as follows. Upcoming features’ (next section) usage of FAI yet to be determined.
Tier 1 (Free): Real time notifications of crypto market activity, including large transactions.
Tier 2: HFT portfolio management, including market analysis multi-exchange blockchain, orderbook, and technical analysis indicating market sentiment and probability for bull or bear run on individual currencies as well as the total market. Advanced order management and auto trade capabilities. Capabilities include Risk adjusted buy ladder and sell ladder orders with dynamic trailing stops and trigger prices. Market opportunity driven order bundling not available directly through exchanges
Tier 3:
1. Access to VIP trading community and High Frequency Trading portfolio management usage for large and mid cap coins. Convert any existing coin holding into an AI managed trade.
2. Liquidity Mining and DeFi market making.
3. HFT portfolio management with futures, margin trading and leveraged ETPs.
Q3 : The hot new term in crypto is "YIELD FARMING". So Do you have a plan to develop the Yeild Farming system?
Ans : We have big plans around yield farming from having built our bridge service
we are working on a way to automate yield farming in a generalized way with risk management built in
this will be presented via a simple to use interface
This will be combined into our portfolio management system. Since Flourishing AI will have a DeFi / CEX Bridge service, it will holistically understand the user’s entire portfolio across different platforms and be able to take all of it into account when assessing the appropriate investment allocation for yield farming in context to their other investments. Keep in mind the AI trading is live now, this will be an additional benefit which we think is a huge value add
we will know about a user’s portfolio and risk appetite so we can just do the yield farming for them automatically even
Q4 : You say This is not a basic one size fits all trading bot. It actively adapts trading strategy to profit in bull markets and preserve capital in bear markets, but how it actively adapts trading strategy to profit in beat markets?
Ans : This has been live trading multiple accounts for a while now, through bull AND bear markets
including large sums of my and @Tsaishen own money
one of the key things we built was the ability to rebase an alcoin trade between usdt and btc in real time in the middle of a trade at any time
this was key to profiting in a bear market
so you can buy btc at bottom price, then trade that to an alt then sell the alt to usdt in the top of a btc bull run
it also makes risk management way more streamlined
of course when we added binance it also allowed us to start trading leveraged inverse ETFs
we also have controls to adjust your risk setting built
if you think you may need cash short term you can set the bot to be more conservative etc
it automatically will also do things like arbitrage stabelcoins
Q5 : FlourishingAI is currently going well and is receiving positive attention. What will you do to get more exposure and adoption? What is the FlourishingAI message for the Community today?
Ans : Thanks for the question - good one!
First, we’re not focused on having large marketing hype. We prefer conversations between our team and you! Our community at https://t.me/flourishingcapital is a pretty lively place
And that discussion is focused on market trends, what the AI sees, and long term strategy. No hype, no fluff.
Our best way to ge the word out is our members, who have really driven positive recommendations, especially over the last few weeks
Our other strategy is to work with trusted partners. We already spoke about Binance, Bittrex, and BarterTrade. The last one therei s worth highlighting - the feeling on the BarterTrade team was that this AI is so different, that it’s worth promoting as a key part of the platform.
Same with the other platforms. The feeling is this is different, so it’s worth a deeper integration.
Several other exchanges have approached us wanting the same (we’ll have updates on that soon!)
So that is our plan. No overhype, just solid results, transparency with the community, and great trusted partners who believe in what we are doing for the long term health of the crypto community. It’s simple, but that’s how you earn the community’s trust. Deliver, have conversations, work with great partners.
Honesty is big for us
even when the bot makes a mistake or has issues we are very transparent about it
unlike other bots
as much as we can be. We are ahead of the competition, and don’t want to teach them too much :)
3rd Segment: LIVE QUESTIONS
Q1 : What are the request invite functions available on the Flourishing Capital website?
Ans : Please join the community at https://t.me/flourishingcapital, we will get you into the invite system. You can start right from telegram!!
Q2 : Partnerships are crucial for Adoption, so can you tell us what partners you have currently and future partnerships?
Ans : We agree! The three exchanges we mentioned, plus we will announce new advisors and other DEX’s and exchanges very soon (when we are done with agreements!)
Q3 : 1. Where are your project Name from?
2.What is the main reason for create your FAI project sir?
Ans : "Flourishing" is the word for "profiting in a large way" . We though it was appropriate name since that is our hope for all our community members :)
Q4 : I’m not a full time crypto investor,
Can FLOURISHING Capital AL help to create, rebalance and monitor my investments ?
How will you curb high level of risk using FLOURISHING CAPITAL AL ?
Ans : Yes! F AI rebalances your portfolio, based on your strategy. you can set a move conservative mode which holds some BTC and arbitrages stable coins, or go more aggressive strategically and include quality alt coins. The AI filters out low quality alts for you a s well based on strength of the project, volume, and other things. All of this based on blockchain analysis and minor TA. That’s why we think you’ll have the same level of information as the whales - because you would :)
Q5 : Does FLOURISHING CAPITAL have a solution /provision to bridge centralization and decentralization, and how exactly do you plane to achieve this?
How much supply of $FAI token will be placed in circulation and describe the purchasing power of $FAI token?
Ans : Yes we have built integrations into exchanges and deep relationships that allow us to get access to their backend systems as well as direct blockchain integration. This is the key to the bridge service.
For the FAI token info please check out our whitepaper.
Q6 : "Honesty is big for us" Can I ask you how honest you guys are?
Ans : I’m not sure how to answer, but I can say if you want to join our community and just talk to us, youll get an understanding of how we inteact with the community, and you can decide :)
I’ve been straight up with people when there are bugs and when the bot has lost money and even when it’s lost my own money. That’s way more than other bot systems will do. We don’t just post rosy hype stuff all the time, we talk about the reality good and bad.
Thanks for thee question. It’s fair to ask, and we are not perfect. For example, a month ago or so we tweaked the AI algo because it was less aggressive in buying BTC than we thought made sense. But the key is to be open about the thinking and to react quickly. You can see our history in our community for examples of this. The good news is these things don’t happen often for us, but when they do, we over communicate!
Absolutely! We’re planning on introducing liquidity mining, Defi crypto scores ( like a credit score) and more. Eventually, we would love to turn this into a platform that understand each member and can provide credit to buy homes or invest in businesses all in FAI and other crypto. That’s the long term vision. Many people have a vision, but not many have the depth to build a deep platform. WE already did :)
We are also transparent enough that you can actually look us up and add us on LinkedIn, that’s more than most crypto startup founders.
Q7 : For a project development first of all main priority is having enough fund. Does your team financially capable to run this project? Do you have enough fund for it’s developement Can you tell us that how your project generate the profit?
Ans : Yes, we have enough to sustain for a while, but also the project is profitable right now based on subscription fees from users of the platform. So we’re not losing money, no need for financing. Any additional financing we would consider would be to speed up outreach to the community, and spread awareness. We’re in a good spot right now :)
Q8 : We have a lot of Defi projects hacked recently. Tell me about your security and talk me for three points about it:
1 - smart contract audited
2 - programs like hackaton and bug bounty
3 - code open source in github or other website
Ans : We do have a plan for a 3rd party auditor of our smartcontract, will likely use the same people BarterTrade used. We are using the openzeppelin stuff which already was audited many times over and is used by many projects.
Q9 : Can Flourishing Capital AI automatically create, monitor and rebalance our investments? At this point, how do you make this diversification according to the different risk levels of each user?
How does Flourishing Capital AI help set targets for those new to crypto investment and build a crypto portfolio based on risk tolerance?
Ans : Yes. It by default runs on a moderate risk level we call 'neutral' risk which aims to grow long term porfolio blending btc/usdt growth.
The AI is working for our members right now. You can sign up today!
Q10 : Can you expantiate further on the security of your trading platform? Why should we trust the expertise of it creators?
Ans : I’ve been programming for 30 years, have started 2 previous finance startups. My previous startup RubyCoins was online enterprise billing and was acquired by PayPal. This is the same PayPal that just announced their crypto adoption.
My other startups were in the game industry, one was funded by TenCent $4mil and $1mil angel round
Q11 : How did the thought of creating such a unique Platform came to your mind. And what’s help you most to create this?
Ans : Great question! Mostly because we needed something like this too. We looked for this as crypto holders and didn’t find it. @GhaleonCDX has been in crypto for almost a decade, but me just the past few years. I found no platform really helps new people the way this does, because it’s not a simple bot. When I realized he was working on this for his own needs, we joined forces and flourishing AI was born.
Q12 : Where Can I Check Out Flourishing Capital Recap?
Ans : We’ll post on our twitter: twitter.com/FlourishingAI or at our community, https://t.me/flourishingcapital
Q13 : Like many current projects, does the Team plan to burn / repurchase tokens to increase the value of the token? And what the team will do to keep the token value stable?
Ans : Yes! 10% of returns will be used to cancel tokens until supply in circulation reaches 50% of total supply created.
Q14 : " USDI " is a stable token on FLOURISHING CAPITAL pegged to inflation I.e its value is adjusted in proportion to the inflation rate,
Now what is the concept behind this USDI ; a stable coin that increases as the inflation price increases, what problem will you solve with this concept ?
Ans : Great question - because they don’t adjust for inflation! USDI will
We are solving the problem that with USD and current stablecoins your purchasing power decreases over time due to inflation. We are creating a stablecoin where your actual purchasing power will stay the same over time. Example: think about what $10 could by in 1980 vs $10 today.
I’m optimisitic, yes because this is so far ahead of anything like it. No one is analyzing the blockchain the way Flourishing AI does, which is why it found the March crash early and protected our holds. During this BTC moon, it slid us into BTC gracefully to benefit from it early. The key is spotting trends really early.
Combined with yield farming/staking our USDI coin will become very attractive
Q15 : What is the real goal of Flourishing Capital? Will you change this logo in the future?
Ans : If you have ideas on logo improvement, we are happy to listen :) The goal is to provide a stable, reliable source of information for DeFi services long term
At this point, do you think you need exchanges as a binance to keep growing? Or is it better to forget those things and focus on other activities.
I think it helps, and honestly it benefits them also. Think about it this way: if you are a new crypto holder, would you choose an exchange or DEX platform which helps guide you with deep analysis? We think so. :) Many of our relationships in fact started because our members asked the exchanges to integrate us! We’re very lucky to have such a great community supporting us, and really grateful.
We have a server cluster that allows us to deploy certain boxes in the closest route we can find to exchange servers that then collect and process exchange data and send back to other servers which do account related things. We leverage fast/in-memory dbs like redis wherever possible.
Q16 : What sparked the creation of your project and was it hard to actually start it? Which companies do you view them as potential partners and that they are somewhat also benefitial for both userbase and the project itself?
Ans : I started this initially to manage my own crypto investments and to this day it still manages my own crypto holdings which has become quite substantial.
Partnerships: exchanges and coin projects and other DApps (we are having convos with a few of them)
Q17 : When you stake FAI tokens you open the possibility to obtain unique benefits, so can you please explain the benefits of the Flourishing AI tiers?
Ans : Certainly: Tier 1 (Free): Real time notifications of crypto market activity, including large transactions.
Tier 2: HFT portfolio management, including market analysis multi-exchange blockchain, orderbook, and technical analysis indicating market sentiment and probability for bull or bear run on individual currencies as well as the total market. Advanced order management and auto trade capabilities. Capabilities include Risk adjusted buy ladder and sell ladder orders with dynamic trailing stops and trigger prices. Market opportunity driven order bundling not available directly through exchanges
Tier 3:
1. Access to VIP trading community and High Frequency Trading portfolio management usage for large and mid cap coins. Convert any existing coin holding into an AI managed trade.
2. Liquidity Mining and DeFi market making.
3. HFT portfolio management with futures, margin trading and leveraged ETPs.
1 Provide a DeFi / Centralized Exchange Bridge Service
2 DeFi Market Making and Liquidity Mining for Exchanges
3 Automated DeFi Yield Farming
4 Crypto Credit Score
5 Undercollateralized DeFi Loans
Q18 : The FAI in the Main token of flourishing capital, so what are Tokenomics associated to It?
Ans : How Much Supply Will be Placed in Circulation?
Total Supply: 100,000,000 FAI
Team allocation: 20,000,000
Company reserve allocation: 50,000,000
What is Initial Circulating Supply and Purchase Price?
Initial Circulating Supply: 30,000,000
Pre-sale circulating supply: 14,000,000 at 0.035 USD each
Public-sale circulating supply 16,000,000 at 0.05 USD each (500 Sats)
10% of returns will be used to cancel tokens until supply in circulation reaches 50% of total supply created.
Strategic sale: 4% (4m) (100k) (Locked with a vesting period of 12 months (1 year), Initial unlock after 2 months of public-sale ended, release 8.33% every months)
Pre-sale allocation: 14% (14m) (490k) (Cap per person 10 eth)
Public sale: 16% (16m) (800k) (Cap per person 10 eth)
Q19 : What will be the FAI token supply? I could not find it, And also please give a brief discussion on tokenomics of FAI. How much funds will be in liquidity? Are you going to lock that?
Ans : Total Supply: 100,000,000 FAI
Team allocation: 20,000,000
Q20 : Where can I get flourishing token? Is it listed on any exchange? Or you are planning for a pre-sale/public sale?
Ans : We will be releasing FAI on bounce shortly. We’ll be announcing on twitter and our telegram community here https://t.me/flourishingcapital
Q21 : How does Flourishing Capital plan to dominate the DeFi market?
Ans : Thanks for this question! We plan to extend our lead in AI based trading to create bridging, liquidity mining, and eventually crypto credit scores and lending. For a true bankless / DeFi world, you need a deep platform which analyzes the blockchain, and that is what we have already built. We will be building on top of that amazing platform to provide all kinds of services, but it starts with the core data mining that is hard to do, but we can thanks to @GhaleonCDX 's background in AI at Nvidia :)
CONCLUSION
Thanks for the answers you can share where we can buy the Token and all your social networks
Ans : Absolutely! PLease see our whitepaper for what we’re completed, and what we plan to work on in 2021 at flourishingcapital.io!
PLease see our whitepaper for what we’re completed, and what we plan to work on in 2021 at flourishingcapital.io! We’re working on yield farming, bridging, and a platform for crypto credit scores. This is on top of what we have built already which is live right now!
The total supply is locked, so our holders will not get burned by new minting
Our public sale is THIS TUESDAY at 9 AM EST / 14:00UTC. The direct link to the sale will be announced on our chat at https://t.me/flourishingcapital
The token is NOT mintable
I’m optimisitic, yes because this is so far ahead of anything like it. No one is analyzing the blockchain the way Flourishing AI does, which is why it found the March crash early and protected our holds. During this BTC moon, it slid us into BTC gracefully to benefit from it early. The key is spotting trends really early.
We’re not even close to the full potential, we are just getting started!
yea we had to first build a whole big data system to data mine the amount of stuff we needed for this
Follow Flourishing Capital on their platforms:
... Website: https://flourishingcapital.io
... Telegram: https://t.me/flourishingcapital
... Twitter: https://twitter.com/FlourishingAI
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