Recapitulation of iBG FINANCE PROJECT AMA event held at AMA LOVERS CLUB.
Date: Thursday, 29th April, 2021
Time: 10:00 UTC
The iBG FINANCE PROJECT team was represented by @Prakashsomo, @Vmenonsg and @MissKate2010 who judiciously shared with us detailed knowledge and information about iBG FINANCE PROJECT.
1st Segment: INTRODUCTION
Q1: Can you please introduce yourselves and your background, also introduce the team working on iBG Finance?
ANS: My name is Dr. Vin Menon and I am the Co-Founder & Strategic Advisor at iBG.
A little bit about my background.... I am what they call a ‘serial entrepreneur.’ I have overseen many successful launches in Tech, FinTech and MedTech space, with the most celebrated being sold to NRI in 2015 at multiple X valuation. I also represented in the UN Assembly for Blockchain for Impact – Leveraging on Blockchain to provide free healthcare for all.
Our other core team members are: Aneesha Reihana - Chief Product Strategist Don Asok - Head of IT & RD
Kate Alippa - Head of Marketing
James Paul - Head of Operations
Dr Shailesh - Head of AI & Analytics Pranjali More - Head of Sales
Prakash, Somosundram - Advisor
Hey guys !
I’m Prakash and proud to be part of the team . I have been working with Dr Vin for more than 5 years now and we go a long way back through the journey of crypto from bull to bear and now riding the bull market.
Q2: Can you introduce iBG Finance, what critical problems does it solve that existing solutions are not solving and what's the competitive advantage?
ANS: iBG is a Decentralized Finance (DeFi) wealth management app. It is designed to bring simplicity to users interested in entering the cryptocurrency and the DeFi market.
iBG is equipped with the latest Robo Advisory technology to offer algorithm-driven investment recommendations. Through an intuitive user experience, iBG makes it easy for all users to benefit from their digital tokens/cryptocurrencies.
The iBG app is now available for download for Android and iOS users, here:
The iBG app is at Phase 1 of development, and now you can:
1. Join an exclusive community sale
2. Stake iBG token
3. Join a referral program
In terms of the critical problems we are solving with iBG:
1. Defi investing is still too technical for most users - so we make it simple through a user-friendly app.
2. Creating a diversified portfolio of DeFi & crypto assets and cryptocurrencies is a highly complex procedure. Creating one from scratch on your own requires technical know-how to use and navigate through the different DeFi apps and conversion of initial capital into various cryptocurrencies - the iBG smart app uses robo advisory and AI to provide you with investment recommendations that suit you best.
3. The DeFi space is still designed for Siloed Trading, where you can mainly purchase one DeFi token or participate in one DeFi protocol at a time rather than create a diversified portfolio. We make portfolio building and investment easy, and the work is done for you.
4. Exposure to cyber vulnerabilities. There are risks when you purchase DeFi tokens and participate in DeFI protocols without a suitable secure ecosystem - and we provide that with iBG.
The app is not fully functional yet?
We are 7 days old since we launched our welcome wallet. The next version is our robo advisory - phase 1 which is expected within next couple of months.
@vmenonsg the "Welcome wallet" is different from the main iBG app?
Welcome wallet is designed to build a strong decentralised community with basic yield staking for users to begin the iBG experience. This will also help to create a referral network for community growth and community retention.
Q3: Can you briefly describe the top milestones you have achieved and your target milestones with timelines, also share your roadmap?
ANS: During the last 6 months our main focus has been on building the iBG product and tokenomics, and also includes other key milestones:
- iBG protocol was conceived & viability was conducted.
- Strategic partnership with a digital asset custodian for token issuance was established.
- Partnership with a BGBF (Southeast Asia’s First Insured and Regulated Bitcoin Fund) was established.
- iBG token minting began.
- Private token sale took place, selling 3.8M out of 45M tokens
- iBG Welcome Wallet was launched
- Community sale just started
Launch of Referral Marketing for iBG Ecosystem products began
In Q2-Q4 2021 we plan to:
- iBG app enhancement for V2 & smart engine development -Integration with popular DeFi protocols & networks
-The iBG treasury and liquidity setup
-iBG Token goes live on DEXES
-The iBG airdrop
-The iBG AI model back testing begins.
- The iBG app V2 trials on testnet
-Strengthening strategic partnerships with institutional players. -Roll out of iBG Wallet V2 on mainnet
-Trial release of iBF Wallet V3 on testnet
Just to add , We are the only insured Defi token under POSI ( Public Offerring Security Insurance) by Lloyds of London Syndicate - minimum A- rated to protect all the offerring we have mentioned in the white paper for investor risks.
* reinsured by Lloyds of London syndicates.
Q4: Can you briefly describe further your PARTNERSHIPS?
ANS: So the regulated insured bitcoin fund - BGBF-I ( bgbf1.com) helps to provide 65% of the profit generated monthly from the fund operations will buy into IBG tokens from open market to make sure enough recurring sustainable liquidity is provided.
2) Partnership with leading insurance provider helping to protect investor funds in terms of any kind of risks arising out of company commitments to community
3) The community referral network provides again sustainable demand creation via ibg welcome wallet to provide another level of demand creation for tokens in open market..
Q5: Can you give an overview of your Tokenomics, and the UTILITY of the $IBG Token?
ANS: iBG Tokenomics:
Token ticker: iBG
Token type: ERC-20 (utility token)
Blockchain: Ethereum with interoperability with Polkadot Total supply: 45,000,000.
In terms of the Utility of $iBG:
1. Portfolio strategies - use a single IBG token to participate in Defi and crypto portfolio
2. Yield Farming - Earn yield in the form of iBG tokens by providing liquidity to the iBG
3. Success Fees - Pay success (transaction) fees using the iBG token for the value of
yield earned only.
4. Compensation - If you’re a developer, you’ll receive iBG tokens for contributing to the
5. Governance - Vote for iBG product development, protocol integrations & token burn
6. Referral Program - Get rewarded for introducing new users to iBG through an
extensive referral program
For more information on tech details of tokenomics , please visit https://ibg.finance/the-token/
2nd Segment: LIVE Questions
Q1: The opportunities of DeFi are limitless, however due to the complexity nature of most DeFi projects, only blockchain experts benefits from these juicy opportunities, while the non-blockchain experts are left behind. How will iBG come to investors rescue of simplify this complexities and make DeFi investments accessible to everyone?
ANS: Thanks for the question . This is exactly we are solving as a pain point ans our robo advisor and execution is as simple as 1-2-3 for investors to work with iBG.
Yes, 1) this communicates between most of the selected Defi protocols - we will do all the hard work for you 2) this is simply following the successful traditional wealth management robo advisory model and catagorising users into Low, medium , high risk using AI and provide options for them.
Q2: It's known that there's no pure success without hard-work and diligence, is really a commendable project, have you faced any critical problem so far and how did you overcome it, where do I get IBG app, can it be used by every one in different part of the world?
ANS: You can download from App Store , play store at www.ibg.finance
Q3: As a investor mainly i faced 4 problem for DEFI investment. They are..
1)Technical & Complex Analysis
2)Designed for Siloed Trading
3)Time-Consuming & Timid
4)Exposure to Cyber Vulnerabilities
How IBG gonna solve this problems? And how the solutions of IBG is better than other project solution?
ANS: Wow ...you spot on! This is exactly we are helping to solve.
Q4: I see that iBG plans to release 3 versions of iBG App namely Version 1 (V1), Version 2 (V2) and Version 3 (V3). Why are there different release versions of iBG App? And what does each version of the app represents?
ANS: V1- welcome wallet V2- Robo advisory with rule based V3- robo advisory with self learning AI and ML
Q5: For me, the most striking feature of the iBG is that it promises a smooth walk-through for non-tech savvy users. In line with this, can you briefly outline the steps involved in order to get myself started on iBG?
ANS: You may visit ibg.finance and download our apps
Q6: Why are there different release versions of iBG App?
What are the different V1 vs V2 vs V3? What are unique feature for those version?
ANS: Let me help to answer this question. Rome was not built over overnight. Likewise it will be a journey for us to build the full ecosystem we have in our vision. The idea that we have to launch the platform progressively so that we can build the platform together with our community.
Q7: While researching your website i found from IBG app I can Get investment suggestions or complete portfolio allocation based on what suits me. That's really attractive features. But to get proper advise what kind of information i have to give to the app? And how you can ensure me that our information will be safe and secure?
ANS: This will be a feature that would be available once the Robo Adviser is launched. It will be based on your risk appetite and you can specify what you need.
Q8: How do you create a diversified portfolio of DeFi & Crypto assets and cryptocurrencies in a highly complex producer?
ANS: This is purely based on the risk profile of the investors based on the basic questions we gather from the user. Each product is categorised to different levels of risks and we cover that accordingly.
This is purely managed by our robo advisor using multiple forecasting and recommendation engine used by our back testing data and the trending on Defi and the upcoming trends.
Q9: Are iBG project limited area? Only for asia region or other region ? Or Global / worldwide ? What is Global Community Launch?
ANS: We are Global ! Our team is global and we are looking to build a global community!
Follow Us On Our Various Social Media Communities For More Update;
Hi again guys!
Get DeFi’s most valuable token - iBG - now and jumpstart your earnings! 💰🤑💹
Download iBG’s official App and start earning today. ⬇️
For IOS users: https://testflight.apple.com/join/UWHRHnVT
For ANDROID users:
By invitation only.
Use this referral code:
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