It was an exciting experience holding an AMA with one of the potential investor group in the crypto space @tehmoonwalkeR The event took place on 6 July 2021, 4 PM UTC. The session was hosted by Bobby the host from tehMoonwalkeR and guest by Joha, Agbona and Kelvin from Bictory Finance.
Below is the full transcript of the AMA.
Bobby: Please be so kind as to introduce yourself to the community members.
Joha: I’m a project lead at Bictory Finance. Ready to answer all the questions.
My name is Agbona. I am the Operations Lead at Bictory Finance, glad to be here.
Kelvin: Kelvin Emmra is the name, and I’m the Community Marketer at Bictory Finance.
Nice meeting you all.
Bobby: Let’s start with the questions 😉
Tell us what #BictoryFinance is and what are you guys trying to showcase?
The community is eager to know.
Joha: 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.
Bobby: Why did you choose Concordium network over others?
What special advantage did it provide you?
Agbona: I’ll take this one.
The choice to build on the Concordium Network, apart from the robust tech, is because of the protocol-level ID layer.
This simply means that any person, company or entity with an identity can get an account on Concordium, which invariably gets access to the slew of financial products on Bictory Finance.
Bobby: How many members are the core team of Bictory Finance made of?
Please tell us something about your core team.
Kelvin: We have about 15 individuals working with us full time, and we are still recruiting potential team members to join us. If you look carefully on our website, bictory.io, you will notice that we have onboarded quite a number of potential advisors as well.
The vast majority of the Bictory team have been in the crypto space since mtgox exchange times and have worked with projects such as Beam Privacy, Concordium, Avalanche, Kylin Network, CoinMargin, Unipool DAO, SWN GLOBAL, Korea Bitcoin Center and several other blockchain projects.
Bobby: Who are the partners strategically helping the growth of Bictory Finance?
Kelvin: Our current model is to partner up with strategic investors; this way, we both work towards the long term sustainability of the project, hence growing a healthy working relationship that future projects that will be building on Concordium can leverage on the development of their project and community. Here is a snapshot of projects Bictory Finance has partnered up with, and we have a number of others still in the pipeline.
Bobby: Who are the major Audiences of Bictory Finance?
Is there any focus on non-Crypto users, who don’t have any knowledge about NFT and DeFi?
Agbona: Ideally, we target the traditional crypto users, as they are the ones to actively utilize our platform, especially if you’re building a CEX, DEX and crowdfunding platform.
We also have plans for audiences that lack a robust understanding of crypto. That is why we have a presence on Instagram and Tiktok in a bid to reach the wider non-crypto audience.
Bobby: Great idea.
To approach through social media platforms.
Kelvin: In addition to this, by deploying our products on Concordium using their identity layer, folks would have it way easier using our products than the complex KYC process that we are facing with 😅
Joha: This is our Instagram Link. https://www.instagram.com/bictoryfinance
We have recently started an educational Bictory Instagram account and want t7o educate and onboard non-crypto people with no DEX/NFT/CEX/COIN/TOKEN knowledge.
Agbona: Absolutely. We also have an aggressive referral program that we intend to integrate into our marketing effort for the CEX, with the goal of onboarding both the crypto and non-crypto audience.
Bobby: Community members.
Go give a follow on their social media handles.
Bobby: Do you have any plans to implement NFT into your project?
Joha: We are developing a platform for physical NFT products and a market to exchange them. We will reveal it in Q4. So far, we have not mentioned it anywhere.
Bobby: It’s time to share some infographic.
Joha: We have purchased dozens of domains for every Bictory product. 🤓
Kelvin: This is quite a privilege, and we thought it nice to share with this awesome community!
This is the competitive analysis we made as we don’t have any head-on competitors on Concordium at the moment.
For those who are wondering about the use case of $BT tokens. This is something to chew on. A very limited supply of only 100M for such a large Ecosystem like Bictory Finance (DEX, CEX and Crowdfunding Platform!).
Bobby: So you have planned to grow mutually with Concordium?
Kelvin: Again, this community is privileged to have a sneak peek of the awesome team behind Bictory Finance. We would update this with our new hires)).
Kelvin: Absolutely! They are our parent network. Our founder, @johaslm has been with them since the very start of their community and throughout their testnets. Myself included.
Joha: Note that it’s part of the team. We will release all the team members and project backers close to the Public Alpha launch of CEX.
Bobby: Let’s talk about the token,
What is the tokenomics of your token, and how will you stimulate the users to hold your token in the long run?
Abona: Here is the moonsheet.
Kelvin: Sure thing, haha… The part that everyone is actually sitting at the edge of their seat for
Bobby: Yeah definitely. 😊
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. The exact collateral amount will be made available close/post platform launch.
Kelvin: what excites me most is the release schedule after TGE!
Bobby: Nice design. By the way👍👍 (regarding the moon sheet)
Kelvin: I would surely let our designer know of this compliment. 🤓
Kelvin: After TGE we are going for a long lock up of 3 months without any further release yet with such a growing and expanding ecosystem.
Bobby: Users are typically concerned about safety when they participate in any Crypto project, so what has Bictory Finance done to ensure asset security for its users？
Kelvin: oh man, after Cryptopia, and all these flash loan losses, you can be sure we have our belts tight with regards to security
Bobby: Yeah, that’s what users are concerned about
Kelvin: We have onboarded an experienced developer in the field of security and also deploying every product of Concordium based on the latest advances in security software. We have a relationship with an auditing firm that would also ensure that every product is thoroughly audited and refined to meet the state of the art security practices.
On the centralized exchange, crowdfunding platform, dex we would have additional security addons like 2FA, SMS Authentication for withdrawals and logins to ensure that the account of users are kept to maximum security. Not forgetting new IP logins too.
Kelvin: Right, We can’t compromise with security in this space. There is so much stake on the line.
Bobby: How will Bictory Finance be different and more beneficial than other CEX in the market? What is your USP?
Agbona: We don’t aim to compete with established CEX; instead, we intend to focus on areas and niches where we feel there’s a business opportunity to explore.
Joha: We plan to be the hub of DeFi and NFT projects as well as partner up with existing blockchain projects to list every project built on top of those networks.
Bobby: And lastly, can you tell us a bit more about late 2021?
What plans does Bictory Finance have for the near future?
Joha: Launch of all Bictory projects. To have BT public sale on Bictory Crowdfunding platform then list BT in Bictory CEX/DEX and other global exchanges. Create more utility for BT tokens.
We plan to offer our Platforms for any projects who are willing to build on top of Concordium. They can have their public/private sale on our Crowdfunding platform and then list in CEX/DEX
We have great things planned ahead.
Bobby: That’s all I had to ask.
If you have anything else to mention, Feel free to do so.
Please drop all important links for the community members to follow up.
Agbona: There you go!
Telegram News: https://t.me/BictoryNews
Medium Blog: https://bictory-finance.medium.com
One Pager: https://bictory.io/one_pager.pdf
Bobby: Thanks, everyone, for your time.
It was a pleasure to host you guys.
Kelvin: Pleasure is ours Bobby. 🙏
Bobby: All the best for your project’s future.
Agbona: The pleasure is all ours.
Agbona: Lastly, our Private Sale C is still ongoing. Feel free to reach out to any of the admin in the Bictory Finance Telegram channel if you’re interested.
Bobby: If you have any questions, you can contact them in their TG
The AMA has ended.
Kelvin: Sure thing, we would be happy to answer any questions they may have!
Joha: Thank you guys for having us.