Recapitulation of KYCDefi.io AMA event held at AMA LOVERS CLUB
Date: Wednesday, 16th December, 2020
Time: 17:30 UTC
The KYCDefi.io team was represented by @StephenHayes. 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 introduce the Team working on KYCDefi.io project
Ans : Alright.My name is Stephen Hayes.I’m a Computer Scientist with a leaning on computer systems and innovation.I have a huge passion for Blockchain and Cryptocurrency that’s why the team and I decided to do this project KYCDefi.I will be in today on behalf of the other team members
Q2 : Can you explain what is KYCDefi.io?
Ans : KYCDefi is a platform that helps projects presale.In the recent past we have experienced rug pulls and scam exits which has left an intially good idea on the rocks.Investors have lost money and FUDed Defi projects while Defi projects teams have been left with no gains from their hard work.To bring sanity to the Defi sector in matters presale,we decided to create a platform that will help both the investors and the project teams benefit form Defi.We secure investors funds and ensure Defi projects deliver what they promised to investors.From the above we pride ourselves as 'THE ORDER MASTERS OF DEFI PROJECTS'
Q3 : Can you introduce the KYCDefi.io project, what critical problems does it solve that existing solutions are not solving and what’s the competitve advantage
Ans : Thank you for the question
We not only secure investor funds by depositing liquidity on Uniswap, we hold team tokens locked,we lock developement funds and release them in phases as the project development is going on.We also give a chance to good projects to presale on KYCDefi without discrimiation.If you look at existing platforms,ou will discover there is alot of discrimination there.They presale their projects and their friends.We at KYCDefi we give an opportunity to everyone who has a good project.This two are the major difference with another competitor in the market besides other numerous benefits such as KYCing teams..Staking on the KYCDefi platform.We will also give an opportunity for the community to reap big - ÁLL THE INVESTORS OF KYCDEFI TOKEN PRESALE WILL FOREVER BE SHARING 5% OF TOTAL SUPPLY OF TOKEN DISTRIBUTION OF ALL THE PROJECTS THAT SALE THROUGH KYCDEFI PLATFORM!
Q4 : Can you briefly describe the Top milestones you have achieved and your target milestones with timelines, also share your roadmap
Ans : Alright.We have already developed the sale app and we are currently using it to do the KYCDefi Token Presale.The staking platform is under development as we talk.The voting section of the featured projects on the sale app is almost ready.These two will be released immediately after presale.
Featured sale app part
Q5 :Basically there are many Token Sale Hosting Platforms today, what makes KYCDEFI unique and different
Ans : Thank you for the question
The fact that we KYC project team members.We give a chance to every project in transparency to sale on the KYCDefi sale app,we move with the projects from presale right to completion of the project makes us unique.The sky is not the limit for us.WE MUST LAND ON THE SUN!
Q6 : Your Presale is Live, can you detail what has been raised, what percentage of funds would be used for listing and locking of liquidity
Ans : Great.We have raised 3.47% of 700 ETH hard cap which translates to 24.46 ETH.We have lowered the softcap to 100 ETH therefore our listing must take place on Wednesday 23rd Dec 5pm UTC without fail.We are asking all the investors to hurry and get tokens from https://sale.kycdefi.io/KYCDefi before time runs out.We will lock 70% of the ETH raised from Presale for 1 year
All unsold tokens will be burned before listing
2nd Segment: LIVE QUESTIONS
Q1 : Presale Price: 1 $KYCD = $0.8343
Uniswap Price: 1 $KYCD = $1.1620
Considering the fact that Uniswap listing will be on 23rd Dec,2020 at 5PM UTC, will the projected Uniswap price still be at the rate forecasted? And will this rate continue to pump or dump after the Uniswap listing?
Ans : The Presale Price is dependent on the price of ETH.If the price of ETH goes up,the price of Presale and Uniswap listing goes up.But we keep the prices at 1 ETH = 700 KYCD Tokens for Presale and 1 = 500 KYCD Tokens for Uniswap price.So at any time to know the price of 1 KYCD token take price of ETH/Number of tokens.The rate will continue to pump.Remember we have a buy back and burn programme where part of the commission raised when projects presale through our platform will be used to buy and burn KYCD tokens.Actually by the end of 2020 the price will be X4 up from Uniswap listing Price
Q2 : KYCDefi is a platform that helps projects presale. Is the platform you have the same as the selling platform for LID Protocol, Zoom Protocol, Bounce and etc. So what makes the KYFDefi platform different from other platforms?
Ans : The Only major competitor we have is LID.Bounce is completely decentralized.Alot od Scam pulls have come from Bounce.We KYC team members,we keep the project development funds and release them in phases,we ensure team token are locked as per the information provide by the team.We have no discrimination like some platform that closed down and another one that is currently presaling their projects and their friends in disguise.We are very unique!
Q3 : Where we can get all the latest news about your project? Do you have Twitter/Telegram community? If yes can you share the link here because there is a lot of fake telegram/twitter groups?
Q4 : What will the minimum presale price of $KYCD and Bow much liquidity will be locked for What period When you list in uniswap?
Ans : Minimum Presale price is 1 ETH = 700 Tokens.
Minimum buy: 1ETH
Maximum buy: No Limit
We will lock 70% of liquidity for 1 year
All unsold tokens will be burned after presale
Q5 : The 2 biggest hurdles for adoption is ease of access and transparent communication, which builds trust. What the KYCDEFI’s strategy to address these 2 challenges and really deliver a quality experience to its users?
Ans : Our official platforms will always be available all the time and our team will forever be available to answer your queries and sort out any eventualities.We will always make official and transparent communication from our channels.
Q6 : What if you not reach softcap? Do you refund?
Ans : We will list even if we don’t reach soft cap.One of the things we seek to solve for other projects that will sell from the KYCDefi platform is to give the team a chance to decide what to do with funds if projects don’t hit soft caps.They can choose to refund,extend the sale or list with the amount raise.We have to ensure the projects teams also don’t get nothing out of the projects they build which takes so much resources.That’s the fairest way to do life.So for us we have decided we will be listing with the amount of liquidity that will be raised!
Q7 : What are the features that makes you different from LID Protocol? What are the benefits of a project is they run their token sale through your platform? Will they get extra benefits if they choose you (like free audit)?
Ans : We have numerous benefits.You can find them on the website kycdefi.io .I already explained a lot of them in the questions the moderator was asking during the first segment of the AMA.Yes we are building an audit system that we will use to audit projects.One of the thing we will do is ensure projects are audited and pass audit standards before Presaling on KYCDefi App.
Q8 : How reliable, safe and secure is it to use your platform, how transparent are you guys?
Ans : It is very secure.It is a new system so we keep monitoring it all the time.As we talk our Engineer is currently sorting out a DDOS attack that we have just experienced before this AMA.Other investors have used the app to buy tokens so everything is working fine.We however will keep improving the appearance and features as time goes by.WE MUST LAND ON THE MOON!
Q9 : Suppose I want to do a token sale on the KYCDefi Platform. Is KYC mandatory for projects that do that and do you have to buy KYCD tokens to start selling on your platform?
Ans : KYC is mandatory but you don’t need to hold any KYCD tokens to Presale with us!
And before you leaving can share link for presale tokens and all social media.
Ans : Kindly use a PC to buy tokens from https://sale.kycdefi.io/KYCDefi or simply send ETH to the Presale smart contract 👉👉 0xd85242fdce118843d494bcefc94d0a590c99477e .
You will get equivalent amount of tokens back.
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