BlockTalks x DEFIT AMA Transcript!
Hello! BlockTalkers & Blockchain Enthusiastic!
We recently hosted an AMA with DEFIT, on April 5th at 1.00 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 Denis, CDO at DEFIT & Kevin, CEO at DEFIT. 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.
Introduction Questions Asked By Team BlockTalks!
Q1. Could you please introduce DEFIT to our community in layman’s term?
Ans — Digital Fitness is a groundbreaking decentralized Fitness and Wellness platform connecting people with professionals all over the world with upcoming loyalty rewards for staying fit and healthy. DEFIT is the upcoming cryptocurrency that will be fully integrated into our ecosystem as a credible alternative to fiat currencies for consuming health and fitness services and products.
What we have built so far is an integrated wellness app where you can connect and join trainers for live virtual classes to stay fit and healthy from your home. But we didn’t stop there. We built a revolutionary Lifestyle tracker where you can monitor how well you train, feel, eat and sleep all in one app.
Making everyone’s journey meaningful and differentiating us from all other online fitness apps out there that only offer events without making sense of what it means for each and everyone towards their personal goal completions.
We truly believe it is a game changer and by incorporating the benefits of the blockchain in the app with gamification we will have a platform like no other and a serious competitive advantage over everyone else.
Q2. What are the advantages of DEFIT to other alternatives in the Blockchain field?
Ans — Many actually. There are a few fitness apps that tried to go that direction. I won’t mention them here. But most offer very basic coin for challenges kinda of system. And then eventually getting vouchers or being able to withdraw them.
The way we’ve built our app as fully marketplace oriented, bringing health and fitness professionals, sport apparel brands etc give a real use case for DEFIT.
Let me explain the Wellness tracker a bit more.
360Wellness innovative wellness tracker allows users to track how well they train, feel, eat and sleep all in one place. It delivers a daily update to each user with a unique WLNS™ score along with personalized insights and recommendations to lead a better and healthier life.
It has been developed in close collaboration with wellness industry experts and sport scientists. This is a unique offering because it can be applied to any individual and anyone can use it to track their overall wellness.
Q3. What are the major milestones DEFIT achieved so far & what are in the future pipeline?
Since our mobile application soft launch last October, It has already been downloaded from 172 countries around the world. It is so humbling and truly exciting as we did no marketing push but achieved this through word of mouth only.
In Q2 we will bring in the Connected Wearables for everyone with a Fitbit, Sunto or Garmin watch to track their fitness activity in the app automatically
After the public sale today we plan to do the TGE and listing not too long after with YFDAI + Ferrum. Then in Q3 we plan to have the DEFIT coin integration with our mobile app towards the end of the year we will roll out our special NFTs which will be a journey NFT of how much a user has grown in their fitness and wellness with 360Wellness + DEFIT.
So we’ve got a lot going on right now and then more to come down the road all throughout the year!
Questions Asked on Twitter For DEFIT Team!
Q1. If I want to join 360wellness app but as a professional coach or trainer, would that be possible? If so, how is the process for doing so and what are the requirements you ask in order to be able to join you? Also, how do you verify a coach is really qualify for the job?
Ans — So as you can see if you downloaded the app, so far we have only operated with a selected number of early adopter trainers. Debugging the app, conducting user interviews etc…
But what’s most important is that over the last 5 months we have been building our web-app. A powerful suite of features to allow any professional to create his profile in minutes, publish it via 360Wellness marketplace and user our client growth module to bring over all his clients and start operating his coaching business online collecting payments etc.
The web-app is currently in QA testing and will be launched within April. Directly accessible to everyone via our website
Once you create your company and instructor profile, our team will run some background checks before approving and publishing the profile.
Q2. In Defit,users can benefit from loyalty rewards for staying fit and healthy.Can you explain more about the Loyalty rewards program that will be given to loyal adopters and users of your application? How about to new users in your application,what welcoming bonus is open for them?
Ans — User Benefits
1. Referral Rewards given to users for onboarding friends and family onto the mobile application 🔥
2. Achievement Rewards based off Fitness, Nutrition, Recovery and Sleep on the 360Wellness Tracker 💰
3. Top users featured in the App 🚀
Top Wellness User Trending
Top Coin User Featured
So these will all help with the loyal adopters, referral rewards will help for new users
Instructor/Coach Benefits
Welcome Gift driving acquisition 💰
Based on their most popular media channel (E.g. Facebook, Instagram, Twitter). % based Token granted once company and instructor profile successfully set-up.
- The revenue of the coach needs to be 10x of the coin value at when it was received. (E.g. 11 cents per token would mean a coach receiving 500 welcome tokens comes to 55$ and would have to do 550$ worth of revenue to unlock the welcome token gift.)
Investor Benefits 🚀
Staking — Details to be announced after TGE. Being a FAS incubated company we will use their staking technology which we believe is one of the best!
Burning Mechanism of Staking fees will be in effect once it begins 🔥
Buyback of coins with 10% of Profits coming from the mobile application 💰
Q3. Is KYC needed to enjoy all the features on your platform? What security systems does Digital Fitness use to protect the security of user data and assets?
Ans — There is no KYC to join our platform. It is very easy to use and we don’t ask for any details at all if the user doesn’t want to. The only thing we ask for is payment when they take a live class
Many other applications ask for your height, weight and so many other parameters when you join which throws you off using it because it takes quite a long time to put it all in.
Q4. 360wellness features live virtual classes with coaches of various fitness options such as HIIT, Muay Thai, Kpopx, dance, and Facial Fitness. Can it be accessed in all regions? And what benefits will we receive if we attend the class?
Ans — If you’re taking a lot of these classes and the new ones we are bringing on board such as yoga, meditation and some healing classes we know it will be beneficial for your overall wellness!
That is our mission to make wellness easy and accessible to everyone across the world at an affordable price!
Q5. The platform has three main components, one of them is the Points that are a secondary ERC-20 token. How can users access this token and how can it be obtained? How does token benefit its most loyal and loyal users?
Ans — So you’ve be able to access the token not only on the mobile app when it is integrated but on the upcoming exchanges such as Uniswap and we are already looking at other Dex to be listed on
I believe we answered the loyal benefits before but we can share a bit more in some visuals
User tier benefits give the users more promotions and discounts with the brands we have on board and we’ve started onboarding a couple already.
This Australian swimwear brand is used by Aussie Olympians and the owner is a fantastic and inspiring lady!
She does triathlon too that’s how we know each other.
On top of all this in the short term future we will allow coaches to put their own products on the app to sell to their clients such as ebooks or other healthy products they wish to market to their audience.
Use 360wellness when checking out to enjoy a 30% promo code. Let me tell you a bit more about why we do this.
Our first visual of our merchandise!
Questions Asked by our BlockTalks Community Members during live Session to DEFIT Team!!
Q1. Contract security is a big issue in DeFi. Has your smart contract been audited? How do you ensure the protection of users’ money so that users feel safe?
Ans — Yes our project has been audited which was mandatory for joining the YFDAI platform. YFDAI are ensuring your investment into their projects is rug proof with as many security parameters in place. All our core team was KYC’d by them to have this security.
Download the audit at the following Blockchain Consilium URL:
https://www.blockchainconsilium.com/verification?contract-address=0x84cffa78b2fbbeec8c37391d2b12a04d2030845e
Q2. Southeast Asia is a very vibrant market and many project developed here so with KANGAL what do you think about Southeast Asia and do you have any plan to develop here?
Ans — Not sure what KANGAL is (I’ll look it up), but totally agree that SEA is an extremely vibrant market. Lean in audience, mobile first and early adopters of new technologies. It is also called the rising wave as we speak here about a 670M people market about to become the largest middle class population worldwide and count over 21M Fitness and Yoga enthusiasts.
We plan on establishing ourselves as the leading online fitness company in SEA this year but also are planning our expansion plans. I am currently in France and about to open our very office here with support of a local incubator, the Chamber of Commerce, FrenchTech etc…
I am invited Wednesday by our city mayor who is very glad to have our company coming in here with a lot of job creations in coming months 🙂 We will attach the EU market as well from the French Business Unit.
Q3. One of the biggest issues for dapps is onboarding. What solutions have Digital Fitness team found to try to resolve this problem?
Ans — Yes we understand this is a big issue however we have an awesome plan to scale up our business with the coaches.
Imagine bringing on only a few hundred coaches onto our pay as you go platform and the growth they can have with only 10–20 users on each of their live classes. You’re looking at 6000 users for only those coaches. We have a plan to get up to 7000 coaches by 2022 so we truly believe we can create awesome demand for our mobile application with live online fitness classes.
The main revenue generation will be for more users to join the live classes which we plan to bring on up to 1 million users by 2022, the more the token is used with the extra discounts the more we will be able to buyback and burn the token. This will increase the demand and scarcity of the DEFIT token.
Q4. An ambassador help projects towards mass adoption. So, do you have an ambassador program too? If yes can you share the details with us?
Ans — We got lot of amazing crypto ambassadors and influencers already onboard as you can see on twitter and YouTube. Lot of things in the making right now
But we will kickstart our Fitness Influencer campaign next month. Bringing the Fitness World onto the Blockchain.
Here are some important links of DEFIT 👇
🌎 Website: 360wellness.io/defit
📱Twitter: twitter.com/360wellnessapp
📢 Telegram: t.me/app360wellness
📚 Medium: 360wellness.medium.com
