Mr Bụt
@guptaritam hello sir :D
Ritam Gupta
Hi @Mrbut88
Glad to be here :)
Mr Bụt
How are you today? @guptaritam
Ritam Gupta
I am absolutely good, how are you?
Mr Bụt
we will start AMA now, are you ready? @guptaritam
Ritam Gupta
YES, please
Mr Bụt
💥 Dear community, VIC GROUP will host an AMA with DEFI11 team
Today’s AMA we have 4 parts
👉Part 1 : Basic Introduction of DEFI11 and Guests RITAM GUPTA is CEO and Co-Founder of DEFI11
👉Part 2: Guests RITAM GUPTA is CEO and Co-Founder of DEFI11 will answer community questions from to form
👉Part 3: All members can ask anything directly about DEFI11
👉Part 4 : Quiz with on DEFI11 (https://t.me/kyrosInsights_Chat)
The group will be muted for the AMA to take place now
we will start with 👉Part 1 : Basic Introduction of DEFI11 and Guests RITAM GUPTA is CEO and Co-Founder of DEFI11
Please introduce briefly about DEFI 11 project and about yourself ? @guptaritam
Ritam Gupta
Sure
I come from a software dev background, being working in the BC domain for almost 7 years now.
Started as a blockchain developer, went into consulting and then eventually landed into business! Worked with few blockchain tech giants as well in past — Deloitte EMEA Blockchain Lab, Bharti Airtel, etc. Some fellows call me Blockchain and Bun :P
Talking about DeFi11 now
DeFi 11 is the world’s first completely decentralised gaming ecosystem that is totally community owned. Governed by the community and operated by the community.
It was last year when the pandemic hit the world and we were under lockdown. The two industries that got a good boost because of it were obviously DEFI (Decentralised Finance) and Gaming. That’s when DeFi11 was born. DeFi powered gaming ecosystem, including Fantasy sports, NFT virtual hybrid world, predictions, betting, etc. completely transforming the world of e-sports and bringing in decentralisation was what we dreamt of.
done
Mr Bụt
Thank you for the guest introductions
Today we have a new guest to join the AMA @tushant77
Can you briefly introduce yourself? @tushant77
Tushant Suneja
Hi All . Tushant this side . I am Operations Manager @defi_11.
As you all can see @guptaritam is here
our CEO &Co-Founder @defi_11.
He is mostly out there getting surprises for the community and also some of our big announcements are coming soon
I would suggest all of you to ask him about the big surprises . He is the one who can provide you with a tease.
Mr Bụt
Wow, thank you
We will have 2 small questions before moving on to part II
Question : Why choose the name “ DEFi11 “ what does it mean ? @guptaritam
Ritam Gupta
Sure
DeFi signifies obvious stuff Decentralised Finance
While 11 depicts the gaming ecosystem
11 games to come under the umbrella. All games unique in themselves. All our games are completely DeFi powered and decentralised.
done
Mr Bụt
Yes thanks for the reply from the guest and this is the final question for part I
Question : Currently the situation of covid-19 is complicated, how does it affect the development of the project or slow down the set progress? @guptaritam
Ritam Gupta, [17.05.21 19:30]
The Covid condition is unfortunately very bad currently.
However, we are currently coping up with the conditions and trying our best to make this perfectly aligned.
Best thing about our team and project is we are already running ahead in time and hopefully our beta product will be launched by next month.
So, we are quite good with the timelines currently.
done
Mr Bụt
Yes, thank you for the brief overview of the project’s completion
We will continue with part II of AMA
👉Part 2: Guests RITAM GUPTA is CEO and Co-Founder of DEFI11 will answer community questions from to form
Question1: Acceptance and awareness of the Platform is very important to any Creator as well as User! So, what are your plans to attract More Users as well as Creators with non-cryptocurrency users? @guptaritam
Ritam Gupta
The fact that our target audience is not only limited to crypto users, we are much more than that. We are equally targeting non-crypto users as well.
We have a well laid plan for these users including the sustainable revenue and rewards model and also the beautiful non-complex gaming structure of the application where the user doesn’t even need to care about any of the complexities of blockchain and just use the application as a normal game.
Done
Mr.Bụt
Thanks for the answer from the guest, we will move on to the second question : Nearly 80% of investors only focus on the short-term token price instead of understanding the real value of the project. Can you tell us the motivation and benefits for investors to hold your tokens for the long term? @guptaritam
Ritam Gupta
Sure
we have a well thought off model to make sure the investors hold the tokens for long term.
Being a trader, you would love our sustainable ‘token deflation’ model.
The company puts 20% of its revenue in buying back the tokens and burning them and hence ‘decreased supply and increased demand’ which in turn pumps up the token price.
So YOU NEVER LOSE HERE. With every game being played on the platform, the price of the token is pumped up, completely sustainable and scalable.
Done
MrBut
Yes, thanks for sharing from the guests, we will continue with the 3rd question: The goal of the DeFi application is to create a new financial system that eliminates subjectivity, bias, and inefficiencies by being based on programmable terms. Does the DEFI11 network support this vision and how does it join the DEFI space? @guptaritam
Ritam Gupta
Yes, we support the DEFI vision totally. The idea is to create a defi powered gaming ecosystem, that means you keep playing the games but on the same time you leverage all the benefits of the defi concept too.
The app in itself provides users with a lot of defi concepts to be benefitted from including staking, swapping, Liquidity poools, LP staking, etc.
So, concluding the answer, YES we respect and believe in the vision of DEFI as a whole.
done
Mr Bụt
Yes thank you for the answer we will move on to the 4th question : The Asian market is quite developed and projects always want to focus on expanding and developing here, how will DEFI11 plan and what are the goals for 2021? @guptaritam
Ritam Gupta
Our idea is to go big and expand global. Starting from the asian markets, we are making strong grips in the other markets including european markets as well.
Already started partnering up with a lot of different companies and ecosystems from europe. You should soon be seeing official announcements. Stay tuned to our TG — @defi_11
Mr Bụt
Yes thanks for the guest update , we continue with the final question ending part II of the AMA
Last question: Security is always a headache for old and new projects DEFi11 will update users with what layers of protection so that everyone involved can trust long-term investment? @guptaritam
Ritam Gupta
We are completely Non Custodial. We don’t store user’s private key or any information with us. The User has the complete control over the platform and hence it is totally secured.
Everything is transparent in our application. Anyone in the world can audit or check the authenticity of every txn and each move. We are nowhere involved in the app, it is completely community owned and hence we don’t provide misleading information to anyone!
done
Mr Bụt
Yes thanks for sharing and great replies from guests we will continue with part III of AMA
👉Part 3: All members can ask anything directly about DEFI11
The group will be unmuted within minutes for anyone to ask questions!!!
Question : Truly, you’ve done AMA in many telegram groups, so what next, what other way will you make your project more popular??
Currently we have promoted our launch event photos that we were the first crypto companies to be going up on Burj khalifa
For further promotions were coming up against brands and planning live YouTube AMA’s soon . Along with that we will have our community vote and decide what our next event would be
Question : Explain a bit more how DEFI11 token will work in the ecosystem?
The D11 token is a fee settlement, staking and loyalty token for the
DeFi11 ecosystem and all its associated games to come in future. The token facilitates
additional functions as both deterrent to bad actors (via its staking function) and as a
payment option, offering additional discounts to its users. List of token functions:
● Fee settlement
● Staking upon registration
● Reward claiming
● Game Dev Financing and Loyalty payments (for Game Players/ D11 Users)
● Get users Attention and Financing(for Game Devs).
Question : Your project is really great and unique project, could you told us how if we want to purchase your token? Any IDO or private sale?
Yes , we have our IDO next month . Just so that you stay tuned follow us on our social media handles and be among the first ones to get early incentives .
Also the app users will get rewarded too for being with us in our testing Alpha launch phase.
New updates and Announcements coming soon!!!
Question : What are the ways for your project to generate revenue in the long run? What is the progress of business development and what are some of your commercial partnerships?
These are all the new features that would be implemented each quarters for users so that people can stay excited and tuned for a fun while play App.
Everything would be controlled via a single click through App only
Question: What innovations has DEFI11 brought to the DEFI space? How is DEFI11 changing the new DeFi ecosystem and what are the plans for next 100 days?
The changes DeFi11 bought for the gaming universe and the Crypto universe is that it bring along both the universe’s that were the top grossing in the last 2 years . Seeing the boost in both the industries DeFi11 saw the chance and stood up against the world and combined these industries so that the people who love gaming and crypto would be super happy to spend what they earn!!
MrBut
Thank you to all the guests and everyone who attended the AMA today. AMA END