Recapitulation of ShoeFy PROJECT AMA event held at AMA LOVERS CLUB.
Date: Wednesday, 22nd September, 2021
Time: 12:00 PM UTC
The ShoeFy PROJECT team was represented by @Catenavc who judiciously shared with us detailed knowledge and information about ShoeFy PROJECT.
1st Segment: INTRODUCTION
Q1: Can you please introduce yourself and your background, also introduce the team working on SHOEFY?
ANS: I am in the crypto space ever since late 2016, so I assume you can call me a crypto OG since I have already been around for two bull markets. In March 2017 Ive held my first ever Ted talk about distributed ledger technology and blockchain, realizing the benefits of such a technology.
In march this year, I have started my own blockchain venture capital firm called Catena Venture Capital, and thats how I came across some great talented people, one of them being the founder of ShoeFy. 👍😉
In regards to ShoeFy, The project is led by a team of experienced blockchain venture capitalists, creative NFT developers, and top-tier marketing experts spanning from Europe to Canada and onto South Korea & Thailand in SE Asia. Our team members share common goals and foresee a huge opportunity in the NFT and DeFi market space. In terms of their backgrounds, some of them are founders of creditable VC firms and also marketing experts. Other members have experience in reputable crypto projects and exchanges. Also, we have boarded a tech team of superior talent building our platform. 🚀🚀
Q2: Can you introduce SHOEFY, what critical problems does it solve that existing solutions are not solving and what's the competitive advantage?
ANS: Shoefy is one of the early adopters realizing that the NFT and FT combination will provide greater utility and innovation. There are very limited platforms in the market as of now. Shoefy has a vast potential to scale and expand, integration to metaverse, and gamification. Its innovative and contemporary approach of combining the NFT and FT, provides the opportunity to earn passive income whilst enjoying the collections. Like play to earn is taking the storm, collecting NFT and earning will be the next thing. And shoefy will be pioneering in this space.
$SHOE token will be utilized as the native token to add Utility to NFT via staking, farming and LP which generates the passive income.
$SHOE token will be used for the Governance, DAO.
$SHOE will also be used as the entry ticket to the ShoeVerse (metaverse of shoefy platform) and at the later stage for incentivizing in the play to earn game such as shoe battles, shoe contests and shoe fashion show.
$SHOE will be used as the SWAP fee for the NFT SWAP.
$SHOE token is required to be paid for minting/farming new shoe NFT in the shoeFy platform.
ShoeFy will have two tokens namely, $SHOE(ERC-20), the native Fungible Token and sNFTs (ERC-721) which are randomly generated on-chain. Each NFT is an algorithmically programmed unique digital pair of shoes on the platform.
Q3: Can you briefly describe the top milestones you have achieved and your target milestones with timelines, also share your roadmap?
We are in the phase one stage of development where early staking of fungible tokens is completed, NFT staking pools are being implemented and the NFT randomization , algorithm generations are in progress. Beta test net is expected to be ready in the next 3 week.
So far we have partnered with very reputable names like DuckDao, ExNetwork, BMW Capital, Gains Associates, OxBull and many more to be announced over the coming weeks. These firms have invested in ShoeFy and are also contributing to ShoeFy’s marketing and exposure to wider audiences across the world. With the amazing product we are developing and these big names backing the project, we are confident that ShoeFy can penetrate the market real hard.
Q4: Can you briefly describe your PARTNERSHIPS so far?
ANS: 🚀 We have officially partnered with some big names like Duck Dao, Gains Associates, Ex Network and many more. We have more partnership announcements in the pipeline. 📈
These partnerships are so invaluable for ShoeFy. Each of our partners are very reputable investors with years of experience and knowledge in the field. They have diverse sets of resources and skills that can boost ShoeFy’s trajectory in the Marketplace. Their vast network and connections will be a big advantage interms of marketing and reaching out to communities. The advantages are numerous.
Q5: Can you give an overview of the Tokenomics, and UTILITY of $SHOE?
ANS: ⚙️The Utility of the $SHOE Token is mainly focused on three parts; ⚙️
🖼Stake sNFTs to Earn $SHOE
Gone are the days of useless NFT’s that have no utility! Put your sNFTs from the ShoeFy Elemental Collection to work for you on the ShoeFy platform and you can earn $SHOE tokens. The shoe NFTs or sNFTs created by ShoeFy are more than just collectible art. These whimsical shoes powered by fire, water, earth, or air also earn you passive income. Find the one you love, and put it to work, and that’s not the only way to earn $SHOE tokens.
💰Stake $SHOE to Earn $SHOE
The $SHOE tokens can be staked in the $SHOE pool, and the rewards will be paid in $SHOE tokens. This is a lower-risk DeFi product as it is not subject to impermanent loss, and is ideal for those wanting to get into DeFi to experience how your assets can begin generating your passive income, by gaining interest on your investment.
🚜 Become a Liquidity Provider to Earn $SHOE
In addition to staking, users can also become liquidity providers to generate passive income by unique liquidity rewards. Provide liquidity to the $SHOE/sNFT pair and receive sLP tokens, and then in turn stake those sLP tokens on the ShoeFy platform and earn $SHOE tokens. For maximum rewards use a boosterNFT (bNFT) which holds the ability to increase your yield by 1.1x,1.5x, 2x, and 3x.
The $SHOE tokens have numerous utility functions, but it doesn’t stop there. The sNFTs created by ShoeFy have some additional functionality and one that will debut shortly on the ShoeFy platform.
2nd Segment: LIVE Questions
Q1: From your MEDIUM, the most exciting innovative features Premiering on the ShoeFy platform is the revolutionary introduction of providing liquidity for fungible tokens and non fungible tokens ? Can you briefly describe this feature ? In your ways to generate passive income on the ShoeFy platform, you described the old-fashioned liquidity providing that comes with a 1.2x, 1.5x, 2x, & 3x
boost. What are these boosts and how can they be attained?
ANS: To answer both of the parts to your question, I would like to start with elaborating on our sLP pool, which in essence is the one your are talking about where the user is able to stake both the FT & NFT hence $Shoe/sNFT in order to provide instantaneous liquidity to the sNFTS. Therefore any user is able to sell or buy a sNFT at the perfect market price. (Which I do except to perform a 10x from the mint price, but still gives the users a very good chance to enhance liquidity.
Secondly the LP boosters sLPs act as tickets to enhance the profits a person can yield from the ShoeFy ecosystem. Therefore these are like the rare ticket to the riches, sBoosters will be auctioned off on our website once they are ready. However it’s important to note that these will be very scarce. Only around 50or so for each tier.
Q2: From where I can buy sNFTs and which token do I need to buy the sNFTs $SHOE OR $sNFT token?
What is FT that mentioned in website and what is the actual meaning of this (FT + NFT) ??
ANS: There will be 10,000 unique sNFTs and a total of 100,000,000 $SHOE tokens. We will mint first batch of 3000 sNFTs as a genesis sNFTs. Rest will be reserved for farming and rewards. The sNFTs can either be minted in our platform or in the Secondary Market.
The FT token $SHOE is setting up for IDO soon. We are expecting to launch early Oct. For now we have raised over 1.75 M in seed and private sales round 1. We are running our private sale round 2 as of now.
You can participate in it by reaching out to email@example.com or via our website https://www.shoefy.io/ .
ShoeFy have a scheme where, the first user to mint the sNFT and if he sells it in the secondary market, the user will be rewarded with royalties every time the sNFT is being traded in the future. ShoeFy appreciates its early supporters.
Also we have the LP boosters called bNFTs. So if you purchase these LP boosters, it will multiply your staking rewards by 1.2x, 1.5x or 2x and more depending on the type of boosters you purchased.If we talk about all our innovative plans, they all deserve to be mentioned here as a unique advantage but for now lets keep it to these basics.
We would have a very simple and user friendly platform where even the beginners can easily use the DeFi tools of staking the sNFTs. We will have the tutorials and instructions of how to stake the sNFTs when we release our product. Stay tuned!
Q3: It's really amazing to see that Shoefy has put in place a scheme that allows first user to mint the sNFT and if he sells it in the secondary market, the user will be rewarded with royalties everytime the sNFT is being traded in the future. Is there a time limit where the user royalties will expire or he will continue to earn the royalty income even if the sNFT is being traded in 100 years time? Also, will the royalty income be the same for every sale or it varies depending on the amount of revenue generated from each sale?
ANS: 🔝The above answer also perfectly answers your question, what I have just posted now.
Q4: Shoefy says it ultimate vision is to upgrade the current status of NFT market with different innovative ideas and also by bringing the power of NFT and DeFi together to give users the best ROI in the cryptocurrency market. So how can new users tap into these opportunities and benefits that shoefy is bringing into the space? What's required of them? How do you intend to simplify the platform for non-crypto savvy users? Are there tutorial videos and other guides to help people navigate through your platform with ease?
ANS: Since we have the vision of introducing new people to blockchain, crypto and the NFT space as part of our non-crypto marketing campaign I myself will actually be recording tutorials for new beginners on how they can get started with MetaMask and opensea, minting of NFTs in order to provide a solid on ramp for new users who might perhaps appreciate the technical capabilities of the blockchain and the wonderful aspect of NFTS however they lack the required skill set in order to be able to interact with these protocols.
So there will be official ShoeFy tutorials targeted at new crypto users to teach them everything abouts NFTs and the blockchain.
Q5: Hai 🌹, Let us know Together that ShoeFy has just closed a private saTogetherle 1 and will be running a private sale 2, How can we participate in your private sale 2? What is the total increase and price of $SHOE tokens during this private sale 2, is there a min/max purchase of $SHOE tokens? And if I can not buy it in private sale 2? Where are your public sales?
Currently we have private round 2 open for participation. Please follow the link on our website here : http://www.ShoeFy.io and click the private sale now open tab.
The price for the Private Round 2 is $0.25 and anybody can apply to participate. We will then be exclusively contacting the people who seem to be the right fit for our list of investors and especially people who can provide us with great value in the long run.
I guess that’s the limit for the amount of questions I can answer🚀
Therefore I would like to invite everybody to our telegram chat where we will 1,000% answer all of your questions! 🙏🏻📈
Follow Us On Our Various Social Media Communities For More Update;
Please follow all of our links here, we are looking forward to welcoming the true yield,nft, digital fashion enthusiasts into our community 💙
Also, we would just like to re-emphasize that you can join our discord community to become updated in the loop, aswell subscribe to your private sale round 2 to get a chance for a allocation!
🚀 Website: https://www.shoefy.io/
🚀 Twitter: https://twitter.com/ShoeFyio
🚀 Telegram Official group: https://t.me/ShoeFy_Official
🚀 Telegram Official Announcement Channel: https://t.me/ShoeFy_Official_Announcements
🚀 Medium: https://medium.com/@ShoeFy
🚀 Reddit: https://www.reddit.com/r/ShoeFy/
🚀 Media contact: firstname.lastname@example.org
🚀 Discord: https://discord.com/invite/n3zbkzC4
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Telegram Group: https://t.me/amaloversclub
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