Bictory had an engaging and stimulating AMA with @CryptoRevolution, an expansive Crypto community of traders, investors, and educators of more than 29000 members, on Friday 16 July 2021, 2 PM UTC. Danny from Crypto Revolution hosted the event with Kelvin and Agbona, representing Bictory Finance.
Find below the entire discourse that transpired at the AMA.
Danny: Welcome @kemmra
Happy to have you with us today.
Kelvin: Thanks, @dani_unss
Hello everyone, my pleasure to be here as well.
Agbona: Hello everyone, It’s a pleasure to be here.
Danny: Could you please introduce yourselves, your Positions at the Team and tell us how you got involved in Crypto? 😁
Kelvin: Sure thing. Hi 👋 Everyone, my name is Kelvin Emmra, the Community Marketing Manager. I am from Ghana in West Africa, a nurse by profession, and happened to storm across this industry just before I graduated from school six years ago. I got so hooked on the benefits and features of Blockchain technology and how it can impact our lives. I started as a content creator for some projects, social media manager, I’ve done sales and also marketing for reputable marketing firms and worked as a moderator for a couple of projects in this space till I decided to join Bictory Finance Project. I happen to be part of the early members of Concordium Blockchain during its testnet stages together with the Project Lead of Bictory Finance.
We saw the huge potential in Concordium once it goes live, and we’re happy building on it as one of the very first movers. It’s been an interesting journey so far 🥳
Danny: Wow…Impressive background 🙂
Kelvin: Thanks for the compliment, Sir 😉
Agbona: Hey everyone, my name is Agbona. I am the Operations Lead at Bictory Finance. I got involved in Crypto in 2017/2018 via a project on the Steem blockchain known as Steemit. I’ve worked with several projects such as Beam Privacy, Kylin Network, UnipoolDAO, MetaMUI. Before Crypto, I was a tech entrepreneur, worked at a few startups, and founded a startup as well.
Danny: Nice. 😁 Could you, please introduce Bictory Finance in layman’s terms to the community?
Kelvin: I would do my best to keep it simple.
Danny: Okay, cool. 😀
Kelvin: Bictory Finance is developing a suite of financial products (a CEX, DEX, and crowdfunding platforms) for projects, building on the Concordium network. We’ll bridge in the nearest future to other popular blockchains such as Solana, Polkadot, Avalanche. You name it, the very big ones already on main nets. We believe cross-chain is the way to go if we are considering mass adoption of Crypto.
Danny: When is the TGE, where and how much will be the Initial Marketcap?
Kelvin: TGE is scheduled to go live in Q4. Currently, we are waiting on Concordium to release details about their Smart Contracts in order to start working on this.
Danny: Got it.
Kelvin: We are currently in private sales, and early investors can join in at @bictoryfinance in order to ask more questions about it. The initial marketcap at TGE is $6,850,000, which I believe it’s quite small considering how big this ecosystem is.
Danny: Do you have any Video showing the Platform?
Kelvin: Not at the moment, but our early investors would have the opportunity to see the alpha version of our CEX very soon ☺️
Danny: Nice. Do you have any Partnerships you can mention at the moment?
Kelvin: Oh yes, there are a lot, @agbona, our operations lead, would you fill in on that?
Agbona: My team, may not be happy with me, but I’ll like to share a link to the prototype of the CEX:
Created with Figma.
So, our current approach is to work with partners who also invest in our project. This way we’re fostering an ecosystem supported by strong partners/investors. This will benefit future projects that build on Concordium.
Kelvin: Oh, the very first community to have a sneak peek of it!
Yes, even before commencing our private sales, we have been actively working on what we want to build, and we are proud of the developmental process so far.
Danny: Any words on the Tokenomics?
Agbona: Snapshot of our tokenomics.
Kelvin: Talk of Utility, and you can have a look at what we are planning.
Danny: Thanks for sharing 👍
Kelvin: BT Tokens is the native token that would power all activities in Bictory Finance Ecosystem. BT Token will be deployed on Concordium Network. The utility of BT tokens are as follows:
-Discount for trades on the CEX for users who choose to pay in BT token. Liquidity Providers on our DEX would share a significant portion of the fees generated.
-Access to Bictory Crowdfunding for BT Token holders/ stakers. In addition, Crypto startups willing to raise funds on our platform would pay a fee of $BT Tokens.
-There will be a good discount on projects, who pay listing fees in $BT Tokens
-Community members must hodl/stake a designated amount of BT Tokens to participate in our Crowdfunding
You are welcome to join @bictoryfinance and know more about it))
Danny: How is the Private Sale ongoing so far?
Agbona: We’re currently in Private Sale C, having completed Seed round, Private Sale A and B, and raising $3.15M so far.
Kelvin: Our community is very supportive, and we welcome everyone to support as well. A community member designed this 😊
Danny: Nice. Congrats on the great Achievement. Marketing plans for the upcoming weeks/months?
Kelvin: Our marketing gear has been in a very low mode as it’s not too effective to push hard on the reins of marketing without a product.
Danny: That’s true.
Kelvin: However, we haven’t stayed idle…else we wouldn’t be here.
Danny: What do you plan to do in Q3 since TGE is planned in Q4?
Kelvin: We plan to go very wild on marketing in terms of pushing our announcements on big press platforms, youtube, Twitter as well, as soon as we have the alpha version of our CEX released.
Danny: Got it.
Agbona: Bictory is a centralized and decentralized exchange and crowdfunding platform designed for projects building on Concordium.
We’re working on releasing the Alpha version of the CEX in a week or two to BT purchasers and early community supporters. Ensure to join our announcement channel to stay abreast with what is going on with the project.
And like my colleague said, we’re focused on releasing products than just marketing. So, we’re committed to delivering on our promise of building a CEX, DEX, and crowdfunding for projects building on Concordium.
Danny | Crypto Revolution: Thanks for covering my questions guys. Ready to get some from the Community?
Agbona: Bring it on!
Kelvin Emmra: Send the flood
Agbona: What better validation do you need when the CMO of Concordium made this tweet about us? https://twitter.com/beniissembert/status/1415565940230660098
Telegram user: My question is about Bictory marketing. As we know, every crypto project needs to be used for growth. So What are the plans for mass use in the future?
Agbona: On the marketing front, we are well prepared, as we have a solid marketing roadmap, with our amazing marketing team. We have several initiatives planned that will foster the mass adoption and utility of our native token $BT token.
We have several partnerships in the pipeline with reputable projects, and we also have plans to launch Bictory Academy, #BictoryEdu with the sole purpose of educating crypto noobs about crypto and Bictory Finance.
Telegram user: Developing a project, of course, requires a very large amount of funds. Is your team financially able to carry out this project? and Do you have sufficient funds for its development? Can you tell us how your project is profitable? And also for us investors? Is there any technical issue or challenge you have faced before, can you tell us how you solve or overcome it?
Kelvin Emmra: Project running out of funds is one of the challenges most crypto startups face. However, we are glad to have a project lead who has a degree in Finance and has had experience in managing several companies even before Bictory Finance. In addition, we have also raised $3.15M exclusive of the grant that Concordium is going to issue to us once they open up to receive proposals.
We have experienced team members onboarded. in terms of development, marketing, and advisory board. We are still recruiting the very best in this space in order to build this project. We are also supported by reputable VCs in this space if you would care to take a quick look at our website at bictory.io or perhaps join our group @bictoryfinance for more information. Happy to explain more further
Telegram user: Do you have any plans to implement NFT into your project?
Agbona: Yes we do! You’ll just have to stick to our community to find out more about this, as we’ll have a major update around the TGE in Q4 this year.
Telegram user: What makes your project different from others and What are some of the practical use cases? What are some of the efficiency you are facing right now?
Kelvin Emmra: At the moment, we would not say we have head-on competitors as we are one of the first movers on Concordium Blockchain who has set out to build something like this. Through our research and as potential investors in this space we realized that the time has come for DeFi to meet some level of compliance if we are looking at increasing its adoption and wider use by traditional investors. At the moment, no network provides such a suitable substrate as what Concordium has developed and launched just about 3 weeks ago. To other Launchpads out there, we have features like crowd pooling, an easy whitelisting process using Concordium’s protocol identity layer, enabling cross-chain pools, instant listing on both our CEX and DEX.
One more thing, that I need to emphasize with the use of our CEX, we are not building to compete with any of the known CEXes but rather we would use our CEX in order to boost liquidity on our DEX through the use of a Proactive Market Maker
Agbona: Q1: Yes yes yes and hell yes!
Q2: Do find attached!
Danny | Crypto Revolution: Lol
Telegram user: Security is at the forefront of all old and new projects, attacks are frequent and even with the best-known blockchains, how does your project prevent this from happening? Do you plan to expand your business in the region?
Kelvin Emmra: This is the part that I would like to expand most upon and bring some awareness to what our parent network Concordium is working on
Decentralized Finance is being crippled in my opinion in terms of expansion due to all the security breaches taking place almost every day. Sorry for all the Anyswap members in here, same as Bondly
Telegram user: What is the competitive advantage of your project? Can you point out the strengths of your project that other projects do not have to attract investors?
Agbona: Here is our SWOT analysis.
Kelvin Emmra: I believe we have gotten to the point in time where we need to have a thin line between privacy and compliance and that’s the substrate that Concordium Network has provided us with.
We are taking a very keen interest in all the cases happening to build a very robust platform for all Concordium users and any project that would use Bictory Finance products. We have partnered with a couple of auditing firms hence be sure every product would come out after intense auditing and testing has been done background. Regardless, in any case of a security breach, the identity layer of Concordium makes it possible for privacy to be revoked in order to reveal the identity of the perpetrators.
Telegram user: Too many projects promise magic but never release any working product or prove any revenue, Within a short/long time of release. Is it like this? If not can u tell us, What makes it different from other projects?
Kelvin Emmra: That’s right and I have been a victim several times with these flash in pan projects. They come very fast and leave the very same way! Bictory Finance is a doxxed team, who have their reputation on the line to deliver this product. Don’t forget also, we started building even before raising any funds. We are almost close to launching the alpha version of the CEX and we would be happy to see you join us at @bictoryfinance so you don’t miss this awesome announcement when it goes live
Telegram user: Liquidity is the challenge of DeFi, how does Your Project solve this problem?
Kelvin Emmra: This is so true Edward and that’s one of the unique selling points of Bictory Finance on our DEX in particular! While most DEXes are using AMM we would utilize a Proactive Market Maker and this allows us to route trades through the CEX and DEX in order to reduce the price impact.
Telegram user: Is there any private sale? Woow if yes, how to participate? I am excited to know about your private sale. Please share all details about “Private sale?”
Kelvin Emmra: Hey Lee, Private sales are still ongoing and you can write to us via email@example.com to be part of our early contributors in funding and also get the chance to have a sneak peek of the alpha version when it goes live. Not only a view but to test it actually))
Kelvin Emmra: okay guys, this is the best we can take for now
Danny | Crypto Revolution: Perfect. Thanks, guys. Final Words for the Community, please?
Agbona: We appreciate this opportunity to listen to us talk about what we’re building at Bicory Finance, thanks for the insightful questions, and I hope you can be part of our journey as we build a slew of financial products for Concordium and the rest of the blockchain space. Thank you for your time, and stay safe everyone.
Telegram Announcement channel: https://t.me/BictoryNews
Medium Blog: https://bictory-finance.medium.com
One Pager: https://bictory.io/one_pager.pdf