On 14 October 2020, Unifi Defi conducted an AMA in the Cryptoscreen Indonesia Community. Our guest is Unifi DeFi Team
Lots of questions as usual from the Community about Unifi DeFi progress. The Unifi DeFi team took part in a very interesting AMA session which included introductions, questions from twitter, and a live AMA session with the Cryptoscreen Indonesia community. If you missed the AMA in person, read this recap for a deeper insight into Unifi DeFi.
Let’s take a look at the most interesting points of our conversation.
Segment 1: Introduction
Samuel Yabes: Hello guys welcome to our Community
Amakua: Happy to be here today and share our project with this great community
Gator Z: So pumped to be here and share our UNIFI DeFi vision with you all ❤️
S for Satoshi: Hello everyone glad to be here 😁👋
Phoenix Jones of the five: Excited to be here!
Samuel Yabes: before we start the first session. We want to know little about your backgrounds guys
Amakua: ok well im the ceo of Unifi deFi i have an extensive background in blockchain project development and have been in the blockchain space for over 7 years. worked on multiple top 100 projects. Im a crypto lifer the only thing i truly love to do for work!
Gator Z: I’m a journalist in my normal job, so I naturally fell into the crypto world by covering some of the projects these past few years, especially since the 2017 boom and the most recent 2020 action.
With COVID-19 and more world issues making journalism harder to do, especially in my field, it was an easy choice to make by going into crypto. I then connected with the awesome UNIFI DeFi team here, and used my services as a journalistic writer to help them create awesome written, community-facing content and managing the community/ social media!
It’s been the best choice of my life 🔥🔥🔥
S for Satoshi: I’m the COO of UNIFI DeFi and I first got involved in crypto when a friend of mine asked me to help setup a mining rig, after that I was down hill from there. We are excited to bring UNIFI DeFi to the space as we believe in decentralization and community driven projects.
Samuel Yabes: Can you introduce UNIFI DEFI to our community?
Gator Z: UNIFI DeFi is working to solve some of the biggest problems present in DeFi at the moment, from high gas costs and long transaction times, to a lack of a consistent place to have all of your widgets, graphs and data sets all in one place, as well as services such as governance, lending, staking and SO SO much more!
UNIFI DeFi is solving this — from our nitrous Layer to tackle high gas fees and transaction times, to our Nitrex Platform, while also offering STAKING, LENDING, BORROWING, GOVERNANCE and so, so much more! You can see our full vision at our website HERE: Https://unifidefi.com
Recently we launched our first round of staking to record appeal and participation, and our Lending Platform is coming in just a few weeks (alongside a few special surprises in the works…)
An added bonus is we have one of the most engaged, awesome communities behind us, a developer team with bundles of experience, and one of the most active and responsive admin teams in crypto and DeFi — period! (not that we’re blowing our own trumpet, hehe)
Shinta Zuan: How many users participate in the staking program?
Gator Z: Our first round of staking led to a WHOPPING 15% of our total circulating supply being staked.
Amakua: the staking round had over 500 users. the staking pool filled up in the first day all three tiers.
Shinta Zuan: What does Unifi DeFi offer to users?
S for Satoshi: We will offer an extensive suite of tools and defi products all in the same place. We plan on having a very robust platform which will be user friendly and easy for any level of crypto advocates from novice to expert
Samuel Yabes: Can you explain the use of the UNIFI token?
Gator Z: This includes:
- And so much more, including an analytics suite
- And something pretty cool coming very soon that we can’t wait to announce….
You can see everything at https://unifidefi.com
Amakua: well the biggest thing people will care abnout is the fact our market cap is 400k with 13 million supply and 15% locked for staking thats called permabull tokenomics.
Gator Z: But yes, we have a bunch of uses listed above, and continue to develop and evolve more use-cases in response to community demand
In a couple weeks we’ll be announcing a major new feature that has never been done in crypto or DeFi the way we’re gonna do it — it will be massive for UNIFI DeFi and our investors/ supporters
Samuel Yabes: Are there any tokens will your team hold?
Amakua: we burned and locked a huge ammount of coins i think there is a medium article about this
Shinta Zuan: What difficulties are facing Unifi DeFi right now? And how did the Unifi DeFi team solve this problem?
Amakua: well the only thing i would say is were quite young. like most long term projects you need to grow into your shoes but were looking to have some nice development releases very soon like an early christmas present for our supporters
Shinta Zuan: What achievements have Unifi DeFi achieved in 2020? And what to expect for 2021?
Gator Z: This is what we achieved just LAST MONTH ^
As well as THIS MONTH:
⁃ Launching our first round of staking with record success and demand
⁃ Staking 15% of our total circulating supply
⁃ Reaching the launch of our Lending Platform
⁃ Beginning development of a crypto/ DeFi feature never before seen or implemented in the way we’re working on (more on this in the coming weeks…!)(it’s going to be MASSIVE!)
⁃ A neat, new rebrand of our logo
⁃ Reached more wallet holders than ever before
⁃ Launched our new detailed version of our Whitepaper: https://unifidefi.com/assets/whitepaper.pdf (https://unifidefi.com/assets/whitepaper.pdf)
⁃ Held a hugely successful meme and sticker competition
⁃ Began the launch of our UNIFI DeFi ‘Educational Initiative’
⁃ Introduced an AMA GAUNTLET
⁃ And much, much more…
Segment 2: Questions from the Twitter
Question 1: Unifi Defi performs token burning and locking. Total token burn of 28 million, why is the allocation for burn so large. What does Unifi Defi expect when doing the burn program? Is this really a good strategy to increase its value?
S for Satoshi: The reason for the large amount of tokens burned is because we had a surplus of tokens and felt that we didnt need that many tokens out in circulation. We wanted to make sure our community and token had plenty of room for growth by locking up tokens and burning the remainder.
Question 2: Product is important for a successful project. The better and more useful the product is, then it will have an impact on its success. Does Unifi DeFi already have a product? If so, can you tell us what products Unifi DeFi has.
S for Satoshi: Besides staking, our lending will be out in a couple of weeks, we have gorvernace coming as well as a big surprise
Question 3: We know sometime ago there was a platform that was hacked. Do you think your system is secure enough? How safe is your system in securing funds and user data?
Amakua: We are having a 3rd party audit conducted as we speak so all code will be verified and secure
Question 4: First, I learned that Unifi DeFi is partnering with Ferrum Network. It is one of those extraordinary things. In the future, what kind of partnership does Unifi DeFi expect? Will Unifi Defi have a bigger partnership in the near future?
Amakua: We’re constantly working on partnerships but we also need to focus on our own project to make sure that we take care of home base first
Question 5: is currently listed on Uniswap and hotbit. But the effect of hotbit exchange is not that big, it is very low even the volume on the exchange. Does the Unifi DeFi Team have a plan to list on the exchange that is bigger than now? so as to attract new investors.
S for Satoshi: At our current state we are not looking for other centralized exchanges, DEX’s is more of a possibility but we are working on our growth as we are only a couple months old. But there are definite plans of expansion in other trading markets.
Segment 3: Free/Live Questions
Telegram User: I find that Unifi Protocol use 2 token in it’s ecosystem : $UP and $UNIFI. Can you tell us the difference between these tokens? And what is the uses case of these tokens?
Gator Z: Wrong project my friend, not ours! Yo can find our token on Uniswap here: https://app.uniswap.org/#/swap?outputCurrency=0x0ef3b2024ae079e6dbc2b37435ce30d2731f0101
Telegram User: Why should I invest in your token? do you guarantee I’ll be profitable?
Amakua: Because we’re the coolest anonymous superhero vigilante team in defi. I can’t speculate on anything as far as gains but i can guarantee you we will do everything in our power to make UNIFI GROW
Telegram User: What are you presently focusing on in UNIFIDeFi ?Is it building and developing or getting customers and users, or partnerships?
Gator Z: A combination! Our primary focus is developing our core services like staking, Lending and more, as well as providing confidence to new investors and members along the way!
Telegram User: With so much another defi project, whats your premium offer can you give to your user that cannot given by the others ? And for your personal @defilord what is your biggest wish for this project ?
Amakua: Experience, accountability, execution, and really awesome memes
Telegram User: What is the most ambitious goal of your project? I would appreciate it if you could share with us any Upcoming Updates?
Gator Z: Our Nitrous Layer is pretty awesome and ambitious — when implemented and fully developed, it will allow many times more transactions to be processed, slashing transaction times and fees (those Uniswap gas fees a month ago were sky high!)
Telegram User: Experts have warned of the dangers of ‘Smart Contract Risk’ in the DeFi protocol. How about the security of ? How often will you perform security audit updates to keep UNIFIDEFI safe?
Amakua: We have an audit being conducted right now for our lending platform.this will be published at launch
Telegram User: The number of scams in projects has increased, therefore the lack of trust in travel reservation platforms is a common problem among users. How does UNIFI intend to solve this problem?
Gator Z: We’re as transparent as the cleanest piece of glass! Our team have been communicative and responsive almost 24/7, we love chatting with our community, and we’re open with our Unifamily about what we’re developing, how it’s implemented, and so much more!
Eventually with governance we’ll have a community-led aspect to further this reassurance.
Telegram User: Are you planning to promote your project in different countries, where even English is not good? Do you have a local community for them to better understand your project?
Amakua: Yes we plan on full global expansion into localized communities moving forward. We are actually doing this right now by participating in an ama I’m a Indonesian community.
Telegram User: What is Unifi made of? What is your market really based on?
Gator Z: UNIFI is made of melted cheese, warm cookies and fresh pizza
Haha! You can find out specifics about the token and tokenomics at:
Telegram User: Many new projects made a good impression at first but were suddenly abandoned. My question is, how will you manage the project and token to gain a place in the market and become a best token in the blockchain world?
Gator Z: We’ve released a detailed and ambitious roadmap and Whitepaper at our website, check it out! We’re in this for the long run, and our hearts and souls are too!
Telegram User: Where did the word “Unifi” come from? can you explain why you chose the name “UniFi”. I hope I can give lambo
S for Satoshi: When we were creating this project we wanted a word that would say unity of all decentralized finance, so we simply named the project UNIFI DeFi and lambo will come soon 😉
Telegram User: Tell us about your plans for 2020, what are you currently working on, and are you going to expand the list of big exchanges?
S for Satoshi: For the rest of 2020 we will bring more staking pools with great rewards, lending and borrowing which will be out soon, a gorvernance token to help the protocol as well as a suprising new product.
Telegram User: If I want to invest in a Unifi Defi project, what would be the risk? Would it be at my own risk or does Unifi Defi offer a system to protect investors’ assets?
Amakua: We’re on the ethereum blockchain and we have locked liquidity on unicrypt so there’s no risk with our security
Shinta Zuan: Thank you for answering questions from our community. Before ending the AMA, do you have anything to say to our Community? Before I open Chat again.
Gator Z: Thanks for being awesome, guys! ❤️
Amakua: It was Lovely to share our project with you all. Please join is on any one of our socials and come say hello! Our community is a very passionate and exciting place! Cheers 🥂 until next time! Peace ✌🏼