Hello! BlockTalkers & Blockchain Enthusiastic!
We recently hosted an AMA with DefHold, on November 12th at 4.00 PM UTC. Many of you might have participated or many of not. But we make sure no one missed out from the knowledge shared by Artega, CEO at DefHold so here we are up with the AMA transcript, for those who missed the live session, this blog post will be a saver & feeder of knowledge for them.
Artega ~ I’m Artega, CEO of DefHold, and in collaboration with my colleague Pisa (COO) we’ve incepted the DefHold project aiming to bring traditional finance tools into the Crypto World.
Basically, since 2016, we’ve been involved in the Crypto space especially by bringing many of our investors into crypto projects by working in well-known asset management companies.
Introduction Questions Asked By Team BlockTalks
Q1. Could you please introduce DEFHOLD to our community in layman’s term?
Ans — Basically, DefHold aims to become a one-stop-shop platform where traditional financial products are converted into new and innovative DeFi products. In addition to providing new DeFi products, the main problem we want to solve is to avoid providing any inflationary products that can’t be sustainable in the long run.
Q2. What are the advantages of DEFHOLD to the other alternatives in the Blockchain field?
Ans — As mentioned above, by the inception of DefHold our main purpose was to offer to crypto investors new products, all generating yields in non-inflationary ways. We’re convinced that there are still so many products out there which can be converted into DeFi products.
As of today, most DeFi platforms are following a business model based on inflationary tokens leading to catastrophic failure from multiple threats by continuously minting new tokens to enhance their yields.
The first product of the DefHold ecosystem will be the native token DEFO which will offer 2 non-inflationary revenues’ streams to stakers and farmers. Indeed, the revenues will be generated by a transfer fee applied on the DEFO transactions and by pools with different lock-up periods which will apply an early withdrawal fee in case the stakers/farmers withdraw their funds before the term of the selected period.
In addition to being non-inflationary, these mechanisms are designed to reward people who will have the best portfolio’s and own liquidity’s management and increase the number of long-term holders.
Q3. What are the major milestones DEFHOLD achieved so far & what are in the future pipeline?
Ans — As of today, one of the top milestones having been achieved was to grant the highest possible guarantee to our investors during the presale to avoid any exit scam. By being approved by LID and holding our presale on their platform, I think we’ve found the best way to offer a great deal to all the DefHold investors as their smart contracts will automatically lock 75% of the ETH raised and also time-lock our Team, Marketing 2 and airdrop funds for 10 months.
The second milestone we’ve recently achieved (announced yesterday) was the conclusion of our partnership with Ferrum Network allowing us to offer awesome rewards to presale investors. To learn more about it, you should definitely have a look at our latest medium post
AIRDROP FUND TO TACKLE PRICE CRASHES: THE NEW WAY TO REWARD LONG-TERM INVESTORS
Announcing DEFHOLD — FERRUM NETWORK partnership
Our next milestones will be to offer a secure and reliable platform to the DefHold investors. To achieve this, a bug bounty program and thereafter a full audit of our smart contracts and platform will take place. We hope to finalize these 2 steps by mid-December. In the meantime, we’ll be also working on the fully decentralized governance platform to allow investors to fully take part to the DefHold project.
Questions Asked on Twitter For DefHold Team!
Q1. DefHold goal is to secure assets during a market dump. Does that mean we get incentives when the market dumps? Can you please explain in detail regarding the purpose of DefHold.
Ans — Well, DefHold objective is to reward long-term holders not only during market dumps but also during market pumps. In fact, the objective of the DEFO token as a product is to reward its holders for their accurate portfolio’s management.
Indeed, investors who’ll have planned correctly their lock-up period won’t have to withdraw their assets before this period is over. This way, they’ll get rewarded by the EWF paid by investors who did not managed to plan market evolution correctly and will withdraw their funds as soon as the market turns to volatility.
Q2. Just a few hours ago DefHold announced its partnership with Ferrum Network. Could you mention some of the benefits that working with this renowned staking services firm will bring to you and your users?
Ans — You’re right, can see that you’re a true DEFO fellow 😉 In our opinion it is a huge partnership and great news for presale investors as this partnership will enable us:
1) to offer a secure and reliable staking solution to provide an investment tool as soon as DEFO will be listed
2) to remunerate presale investors by offering them VIP pools with awesome revenues and rewarding them for their trust and early investment in our project
All the details about these VIP pools will be released few days before the presale begins.
Q3. What is DefiHold plan to ensure sufficient liquidity on the exchange to fulfill market orders, especially as adoption increases and clients begin to multiply year after year for your project?
Ans — Guarantee sufficient liquidity to investors is crucial for offering them smooth trading and minimize slippage. To offer this to our investors, we decided to proceed as follows:
Presale will be held by Liquidity Dividends Protocol (LID). 75% of the raised ETH will be allocated to Uniswap liquidity and definitively locked by their smart contracts. This process will allow us to offer a great guarantee against exit scam.
EWF and transfer fee revenues will be distributed more importantly to farmers to increase their revenues and incentivize them providing liquidity to the DefHold ecosystem.
Q4. Are you mainly looking for bigger investors or is your platform friendly also for the smaller investors ? Is there any whitelist to participate in presale?
Ans — Everyone is welcome! We’ve done our best to ensure that small investors can also participate in our project.
Indeed, it won’t be required to put oneself on a whitelist to invest in presale and the minimum contribution will be 0.1 ETH. Moreover, all the future pools won’t require any minimal amount to be able to stake. This way everyone can definitely take part to the project if they see its potential!
Q5. One of your major concern during the inception of the project is to increase the number of long-term holders. What mechanisms are in place to achieve this?
Ans — To increase the number of long-term holders, we’ve implemented 2 mechanisms.
The first one is the DEFO product itself which aims to incentivize people holding their tokens over long periods thanks the EWF mechanism.
The second one relates to our airdrop fund which will be released at a monthly 10% rate over 10 months and be distributed only to presale investors who don’t sell their tokens. Thanks the partnership concluded yesterday with Ferrum Network, VIP staking pools will be implemented and be only accessible to presale investors. Given the APY which will be offered in these pools, I am convinced they’ll be filled very quickly and reward presale investors in the long run for their trust in the project.
Q1. DeFi on Fire,,, Can you share $DEFO opinion on DeFi ? What steps are already being taken towards the future progress of $DEFO?
Ans — Agree with you! It has been a really trending topic over the last few months. I think DeFi won’t overtake traditional finance (at least short term wise 😉 ) but they will certainly be complementary and offer diversified investments’ strategies. The latter is exactly the main purpose of DefHold, convert traditional financial tools into new DeFi products.
Q2. In your opinion, which is more important for the DefHold and why ? Community, Investors, Market or Exchange.
Ans — I’d say Community, Investors, Market are the most important thing for any project. However, exchanges don’t really bring long term value to a project unless maybe Binance and Coinbase.
Other exchanges create most of the time a pump by the announcement but are then destroying the project in the long run as listing fees are paid and those funds can no more be used for project development, marketing, etc…
Q3. Many projects rug pulled and exit scam recently. Why should investors trust your project not to do the same?
Ans — Fully agree with you and that’s exactly why we decided to run our presale over LID protocol. As 75% of the ETH raised will be allocated to uniswap liquidity and 65% of the token supply will by time-locked for 10 months, I think you’ll agree that the chances of seeing a rug pull here are low.
Q4. Tell us some speciality of DEFHOLD that makes it unique?
Ans — To summarize, I’d say:
1) Non-inflationary revenues
2) Long-term holders rewarded by airdrop and the DEFO mechanisms
3) Increased buying pressure as it’ll be mandatory to hold DEFO tokens to be able to use the future products and as the circulating supply will be only 4,176 DEFO by listing
(most of them probably going to be staked in the VIP pools)
Q5. No one can achieve anything valuable by their own. So, can you tell us more about your partnership which will lead you to success?
Ans — You’re right and it’s exactly the reasons why we decided to partner with LID (for presale) and Ferrum Network (for VIP pools).
Every product, pool, feature or future development we’ll implement have to meet the highest possible security levels. Thus partnering with well-known and reliable projects will allow us to offer the guarantees making the investors confident about our products.