BlockTalks x GameFi Protocol AMA Transcript!
We recently hosted an AMA with GameFi Protocol, on September 16th at 12.00 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 Alex, Chief Architecture Officer at GameFi Protocol. 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.
Q1. Could you please introduce GameFi Protocol to our community in layman’s term?
Ans — We believe that Gamefi, as the entrance to the Metaverse, is an important carrier for humans’ future social, entertainment and even work, and a new digital world in which everyone will participate.
We’ll become a Metaverse aggregate platform and trading platform that everyone can play and earn.
Q2. What are the advantages of GameFi Protocol to other alternatives in the Blockchain field?
Ans — Our team has rich experience in game development and project operation, with strong execution. As a Gamfei aggregation platform, we will authorize many high-quality games to launch(IGO) on the platform. So the games launched(IGO) on our platform are not only reward based games, but also games with high playability.At present, the track is still in the blue ocean.
We have received strong support from several listed game companies and will jointly launch the popular gamefi.
Investment institutions and industrial capital provide sufficient funds for project development.
Q3. What are the major milestones GameFi Protocol achieved so far & what are in the future pipeline?
Ans — We are happy to share with you that we have already launched Pancakewap, the number of users continues to grow, and farming will also be launched soon.
Of course the most importance of users, we have received equity financing from 7road-which is a top developer and an international distributor of web games and mobile games, as well as Forth Ecological Foundation, IPFS Ecological Foundation, Evolution, as well as cryptocurrency financing from institutions such as Waterdrip, Bitrise, ChainVC, K24, Gamma, Bitwhale, R8 BLOCK, etc.
Questions Asked on Twitter For GameFi Protocol Team!
Q1. You mention that GameFi Protocol in addition to the basic services of the game guilds, also has a variety of innovative revenue models, could you give us more details on what these models are? What is their innovation and how do they work?
Ans — GameFi Protocol is the first GameFi mining pool protocol. It aims to build a GameFi aggregation platform to provide users with a low-threshold way to invest in GameFi. In addition to the basic services of game guilds, GameFi Protocol also has a variety of innovative revenue models such as Machine gun pool,farming (liquidity mining), and Gamelist(IGO),which provide users with a wealth of value capture methods.
Gamelist: The GameFi Protocol encourages outstanding GameFi teams to launch projects on Gamelist.
NFT(Game NFT): Users can freely trade game NFT assets and get rewards.
Gswap: The GameFi Protocol can help GFI holders to obtain free GFI token rewards through stake GFI or Forth in GSwap; users can also conduct trading, farming (liquidity mining), and launchpools（Free launch of GameFi project)in GSwap.
Of course, we have already cooperated with listed game companies to launch high-quality games on the platform and jointly issue game NFTs. Any player who purchases game NFT assets will receive GFI rewards when playing the game.
Q2. The GFI token holders are part of the DAO so could you explain to me how the community governance of the Gamefi protocol works or takes place? How much is the minimum GFI token needed to participate in the governance?
Ans — Our community will be composed of Rewards developers who participate in the GameFi Protocol ecosystem-GameFi explorers, GameFi professional players, code contributors, bug diggers, etc. Of course, they need to hold a little GFI.
The GameFi Protocol supports GFI holders to form DAO spontaneously in order to carry out the community governance of the GameFi Protocol. The DAO implements a democratic system of 1 vote/1 GFI. The DAO can be decided by voting on:
①The rule setting of each function of Gamelist, NFT, GSwap, GMiner.
②GMiner project’s admittance into/rejection from the pool.
③Whether the Gamelist project should be online.
④Whether the new gameplay of Lottery/Grab bag should be online.
⑤Revision and improvement of GFI certificate economics.
⑥The strategic planning of the GameFi Protocol.
⑦More modifications and improvements of rules.
Q3. As a GameFi aggregation platform, I read that they authorize the launch of many high quality games (IGO) on the platform. What kind of games can we expect in such an exploited market in RPG games? Will it just be reward-based games or also high playability games?
Ans — Our team has rich experience in game development and project operation, with strong execution. As a Gamfei aggregation platform, we will authorize many high-quality games to launch(IGO) on the platform.
So the games launched(IGO) on our platform are not only reward based games, but also games with high playability.At present, the track is still in the blue ocean.
Q4. Lots of gaming platform use Play to Earn (P2E) mode but GameFi use Everyone to Earn (E2E) Concept. So What is this E2E Cocept? How will it implement in GameFi ecosystem? How Do players & Game developers get benefits by this Concept?
Ans — As a Gamfi aggregation platform, we will authorize many high-quality games to launch(IGO) on the platform. So the games launched(IGO) on our platform are not only reward based games, but also games with high playability.
Therefore, anyone who has no time and professional skills can play and earn, that is”Everyone-to-Earn” (E2E).
Q5. You have 3 types of fees mechanism, called trading fees, Acceleration Fees and Yield Fees. So, I would to know more about the different between each fees on your
GameFi Protocol platform? What’s advantages provide by each fees mechanism?
Ans — To be precise, the main fees of our platform are transaction fees. For example, we will charge for each game NFT transaction, and while charge transaction fees, we will also reward users GFI who participate in game NFT transactions.
Questions Asked by our BlockTalks Community Members during live Session to GameFi Protocol Team!!
Q1. I noticed that about 80% of the repurchase fund pool is used for the repurchase activity of GFI tokens, so how often do you carry out this repurchase? Is it daily, weekly, monthly or annually and who determine it, is it the project team or through community voting?
Ans — The repurchase frequency is determined by community voting, and the repurchase rules will also be determined by community voting.
Q2. You say that the GameFi Protocol encourages featured GameFi teams to launch projects on Gamelist, but does it really, in addition to “animate”, also provide them with any facility to develop these games? but what really benefits them that GameFi encourages them?
Ans — The platform will empower game developers from all aspects of products, blockchain technology, economic models, community operations, etc., so that they can easily make “ChainGames”. And we will help more game developers to jointly sell game NFTs with us.
Q3. Something about GameFi Protocol Global Ambassador Programs catches my attention. Could you give us more details and information about this? How could we apply to be part of these GameFi Ambassador and what benefits would it give us?
Ans — Community is very important to us. We welcome anyone with rich blockchain experience and gaming experience to join our community, and welcome everyone to recommend excellent projects via telegram or official email.
We will build DAO to judge projects based different public chains, wallets, single or multiple token systems, game rules, and token economic models (Tokenomics), etc.
We have gradually established a global community, including Southeast Asia, Japan,South Korea, Russia, North America, South America, the Middle East, Europe, etc. Ambassadors and volunteers are welcome to join.
Q4. What does the holding capacity of GFI lies on technically?? Can I as a player receive any game reward when I buy NFT assets??
Ans — GFI is the driving force behind the GameFi Protocol ecosystem;
1.GFI can be staked in GSWAP to get GFI token rewards;
2.GFI can be used to purchase NFT products as well as GPST or MPST in GSWAP, and participate in trading, farming, and launchpools;
3.Users can invest GFI, Forth, ETH, USDT or other tokens in different pools within GMiner to obtain GFI and Game/DeFi tokens;
4.Users can use GFI to buy Lottery/Grab bag, and get bonus after winning;
5.GFI will also be used to reward GameFi explorers, GameFi game guilds, code contributors, and bug bounty providers;
6.Users who participate in NFT transactions will receive GFI rewards.
Of course, GFI is also an important tool for GameFi Protocol community governance.
GFI mainly achieves deflation through repurchase and burning, which have the following sources:
GMiner fund’s participation in the income of Game/DeFi projects
GSWAP Tx fees
Lottery/Grab bag revenue
In general, the holding value of GFI lies in the fixed amount, continuous repurchase and a wide range of application scenarios.
Q4. You have two referral systems, GSwap Farming Referral System and GMiner Referral System . Are these systems inter-connected? Do we get rewards seperately or do you calculate and distribute both rewards at once to our referral account? Can’t we identify whether they are GSwap rewards or GMiner rewards?
Ans — The two Referral Systems are independent of each other, and the rewards for referraler are also calculated independently.
Q5. You say on your website that there will be an explosion in the GameFi Metaverse, so much so that you will provide 1000%, but are you really sure if this “explosion” will happen? If so, when will it really happen?
Ans — This is a “head-mining effect”, which is determined by the Tokenonomics. The currency-based APY will gradually decrease with the increase of TVL and the passage of time.
Q6. Currently there is a lot of competition, because there are a lot of Metaverses that allow users to generate very attractive profits. What are GameFi’s strategies to attract new investors and increase the number of players?
Ans — We will launch a highly playable ChainGame, and will increase the GameNFT mining, transaction mining, synthetic assets, blind box and so on. I believe users will like it.
Q7. They mention that the GameFi Protocol, as a gateway to the Metaverse, is an important carrier for the social future. But, how can it directly influence the social sphere as it is a gamification protocol for professional players? How do they facilitate entertainment and even human work?
Ans — This is a long-term view and a big topic.
In fact, the reason why we have reached in-depth cooperation with well-known listed game companies is also due to this, that is, in the near future, not only entertainment, but even work and life will occur in the virtual world-Metaverse. Therefore, we will dig deep into this track and create excellent products for users.
Q8. Do you plan to partner with local cryptocurrency developers or game developers in other countries to make GameFi Protocol global?
Ans — This is affirmative and necessary. We have deep cooperation with 7road-a top web game and mobile game developer and international distributor,which was also invested in us. We will focus on co-publishing game NFTs and co-publishing games with different game listed companies.
Q9. How do you check the projects and content of games that you implement on your platform? How do you ensure that they do not include any harmful content?
Ans — We have a strict screening mechanism for the Game launch on the Gamelist, and it will be decided by the final vote of the DAO.