BlockTalks x Vox Finance AMA Transcript!
Hello! BlockTalkers & Blockchain Enthusiastic!
We recently hosted an AMA with Vox Finance, on October 22nd, at 01.00 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 Luka, Blockchain Engineer & Co-Founder & Jure, Software Engineer & Co-Founder at Vox Finance 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
Luka — My name is Luka and I’m the lead blockchain engineer at Vox Finance. We started this project together with @walkeraki and have mode some nice progress since our launch. I have a background in finance, where I’ve been active for several years and I’ve always been a programmer by heart. I started doing business with crypto in 2016 when we created our first mining farm. 4 years later and a lot of experience after, we’re ready to launch our own project!
Jure — My name is Jure and I am co-founder and software engineer at Vox Finance. I have been working in my line of field for my whole life in some of the most respected companies in Europe. Also a long time crypto enthusiast hoping to bring some innovation to this amazing community!
Introduction Questions Asked By Team BlockTalks
Q1. Could you please introduce Vox Finance to our community in layman’s term?
Ans — Vox Finance is a new DeFi project developed by us that’s trying to bring a novel approach to the typical decentralized finance platform. We’re already live with yield-farming and staking on our platform, but soon we want to integrate even more services. We’ve got a governance model planned out for launch in two weeks, we’re going to enable self-generating interest vaults and later on we want to build a full stablecoin swap, lending and borrowing platform. All under one roof, completely governed by the community.
Vox Populi — voice of the people :) By the community for the community
Q2. What are the advantages of Vox Finance to the other alternatives in the Blockchain field?
Ans — Compared to other competitors in the same field, we’re trying to bring a professional and clean approach to the topic. Our website is not connected with any fruit, vegetable or food in general — while we’re not implying that the other projects are not brilliant ideas, we’re just targeting a slightly different approach. Our other main advantage is our transparent approach to the community. We’re always listening and answering to the people.
Also, we’re working on a much more strict tokenomics model. We also started with a small and fair launch. We’re growing slowly but organically. We like to believe that we started out in a unique way.
Q3. What are the major milestones Vox Finance achieved so far & what are in the future pipeline?
Ans — As mentioned, we’re still a very, very young project. We started on last Saturday, 17th October with the launch of our yield-farming and staking platform. Already now it’s creating a nice way for our investors to profit. We’ve also established several communities across the world to share our vision — in Europe, Asia, Africa and the US.
We’re currently working on our first CEX listing along with the first release of the full governance system — our voting and discussion forum. Next we’ll have the launch of our private staking pools, then the vaults and finally we’ll continue with the stablecoin platform and towards the end of the year or full focus will be on bringing the platform on a mobile application.
Questions Asked on Twitter For Vox Finance Team!
Q1. With the governance token Populi, which we will collect when depositing VOX to the VOX staking pool, what privileges will we benefit from the ecosystem and does having Populi bring additional staking rewards?
Ans — So, to explain it to new users.. staking VOX on our platform will grant users our governance token POPULI, which will grant them several benefits:
1. You will be able to deposit your POPULI tokens in exclusive staking pools that will pay out tokens from other projects. We’re also discussing the idea of certain locking periods so that you are rewarded if you stake your coins for a longer period.
2. Access to the voting platform. POPULI holders will be able to vote on governance proposals. We’ll employ a special voting power function, so that even small users will be able to share their voice.
3. Access to the governance forum, where all POPULI stakeholders will be able to talk, discuss, share and propose ideas.
Q2. From your Vox Finance website , we can submit problem, suggestion, idea or bug report and get reward, where we can submit that?
Ans — We’re rewarding all community members to help us with the project. Everyone can suggest ideas, locate bugs, become a community manager and so on. We’ll gladly reward each contributor with a small reward for their help! After all it’s all about the community that we’re trying to build.
Q3. With a very low supply and a 2% every transaction burn,
What other factors in the RealVoxFinance Project that will bring DEMAND to its $VOX token?
Ans — As mentioned before, we have a special tokenomics model. We’ve only initially deployed 1250 tokens, 500 of which were deposited into Uniswap. Only about 50 % of the current supply is circulating. We’re also only minting 75 tokens per day, the rate of which will be lowered by 45,0 % every 2 weeks. Add a 2,0 % burn rate on all transfers to that and you have an interesting economy.
Q4. Your token supply is currently low. 75 VOX is minted per day and price is increasing in steps. This seems like an experiment to me. What is VOX trying to achieve with this experiment? And can it develop over time?
Ans — We’re trying to build a token economy where we can achieve a nice distribution at the start to attract holders, but then we want to make the token much less inflationary. That’s why we’re cutting the mint rate. As time goes on, the mint rate will become so low, that it should be able to be in equilibrium with the burn rate. This means that staking and yield-farming will still be active but with no additional supply created.
Q5. Regarding the idea of having a forum, where all the ideas of the users are expressed, what benefits will I get as a user by contributing to the development and growth of your project?
Ans — Participants in the forum will first have the major role of deciding on the next steps of the platform. You will be able to request new features, make changes to the protocol and so on. This will already give you a big responsibility. Along with that, top community contributors and most active members will be tracked on a leaderboard. Top spots on the board will be awarded with complimentary rewards of VOX at the end of each month.
Questions Asked by our BlockTalks Community Members during live Session to Vox Finance Team!!
Q1. Projects that are not traded on major exchanges remain unnoticed. What do you think about listing the token on the leading exchanges?
Ans — Listings on big exchanges cost money — money that a microcap coin can not possibly afford. That’s why we’re focused on Uniswap so far. However, in a very short time we will be able to announce a CEX listing to our followers.
After that we hope that we can continue with new listings on bigger exchanges, but we’ll need your help!
Q2. Where does the project name come from? What does it mean for you and why did you choose that name for your project?
Ans — Token names form “Vox Populi” which is Latin for Voice of the people. We chose that name because it fits our mission — giving community token that they can shape!
Q3. You started with a small presale so your current token distribution is actually quite fair compared to other DeFi projects. But do you have any limitations? Is there a $VOX limit that I can buy from Uniswap?
Ans — Yes, as you’ve mentioned we started very small and fair. However, because the current circulating supply is so low, we can not limit any purchases on Uniswap — nor do we want to. If you’re trading on Uniswap just be careful because the current slippage can be high. Buy the tokens smartly!
Q4. When will the world stop being afraid to use DeFi? What is Vox Finance doing for the mass adoption of DeFi technology?
Ans — Our timetable includes releasing mobile application somewhere in Q1 of 2021. Current usage of mobile phones for DeFi project is lacking and we think with our vision and experience could be the next step in mass adoption of DeFi technology.
Q5. What really motivated you to create this project ? And When was it created ?
Ans — Our biggest motivation for the project was the lack of professionalism and transparency from other projects. We’ve communicated every step to the community — from the start, which was 5 days ago — to the steps taken yesterday. We’re really focusing on being connected with our users and we hope that we’ll be able to bring our vision to the DeFi sphere.
Q6. Does the price of the token matter to you from an operational perspective, if the token price is $1 or $100?
Ans — For ourselves of course a higher token price does lead to a higher monetary compensation for our efforts. But we’re not focused on the coin being worth more today or tomorrow. We know we are still a long way away from our goal. So no, from an operation perspective, it does not make a difference.
Q7. One of the keys to a large user base of Ethereum is that their yield farming can bring more benefits. What are the differences and advantages of yield farming from Vox Finance?
Ans — The difference we’ve focused on immediately from the start was to not bring you fake and false calculations of APY/APR/ROI percentages. That’s why the ROI % on our website might be a little bit lower than some other new projects — they’re real. Now, while price and bigger participation may impact the final result — at least we’re not inflating the numbers.
Q8. How easy is it to use Vox Finance? How does Vox Finance plan to dominate the DeFi market?
Ans —It’s actually quite easy to use our platform. Everything you need is a compatible wallet and to read our guide on the website. The interface is clean and you should have a pleasant experience to deposit/withdraw assets and collect your rewards!
Q9. What is your plans for global expansion, on building and developing or getting customers and users, or partnerships?
Ans — We think that our professionalism and having great platform will bring steady and healthy growth of users and investors. We are working on marketing campaigns everyday and this is just the beginning. Some big news follow in next days so stay tuned.
Here are some important links of Vox Finance👇
Official Website — https://vox.finance/
Twitter — https://twitter.com/RealVoxFinance
Uniswap — https://info.uniswap.org/pair/0x3d3ee86a2127f4d20b1c533e2c1abd8040da1dd9
Telegram Chat — https://t.me/VoxFinance
Discord — https://discord.com/invite/c32KurP
