AMA With EPID Community
Building a robust community is at the center of the Bictory Finance project, as witnessed with the various community engagements like AMA we undertake. We had another classic AMA with the EPID_Community_VN that was so delightful and fruitful.
From our side, Ben Marchant, Marketing Manager, and Community Marketing Manager, Kelvin Emmra, were our representatives. With a $100 Reward Pool at stake, we expose the community to what the Bictory economy has for the entire space.
Divided into two sessions, part one delved into our ecosystem, with the moderator asking pertinent questions about the project. The remaining session was a question and answer period for the community to remove every cobweb in their minds.
Part 1: Project Introduction
Question 1: Can you give a brief introduction of what Bictory Finance is? What is it aiming to do, and what it intends to solve in this industry?
Answer: Bictory Finance is a complete ecosystem built on a foundation of Security, tech, and a vision of a regulation-compliant cryptocurrency world. This ecosystem includes a CEX, DEX, Crowdfunding platform, and also an NFT project which we will have more details on soon. We want to remove barriers to new users getting into crypto through our CEX, but we also want to appeal to builders and DeFi users through our DEX.
We plan to bring in users and investors by building a secure trio of products.
Question 2: Can you share some of your background and experience? How did you know and get involved in cryptocurrency? What made you/your team decide to found Bictory Finance?
Answer: I guess the best way to sum it up is a quote from our Litepaper:
The mission is simple: “Develop a slew of products that enable developers and liquidity providers, creators and traders on Concordium to raise capital, trade crypto, and provide liquidity. We have dozens of members in the Bictory finance team present; Joha, the Project Lead. Agbona — Operations Lead; Ben — The marketing lead; and Kelvin, who works as our Community Marketing Manager. A vast majority of the Bictory team have been in the crypto space since MTGox exchange times and have worked with Beam Privacy, Concordium, Avalanche, Kylin Network, CoinMargin, Unipool DAO, SWN GLOBAL, Korea Bitcoin Center, and several other Blockchain projects. Joha and Agbona saw a need in the market for Security, speed, and reliability in exchanges. They saw an opportunity in Concordium to build something different than what we have seen before. On top of that, they saw the coming regulations and wanted to create something well prepared for this. I got involved with cryptocurrency because a friend showed me how to mine using my video card about six years ago.
Question 3: Currently, many scam projects cost investors a lot of money. So, Why should we choose and trust Bictory Finance?
Answer: Because our entire focus is on Security. We are building our products in a way that will attract serious investors and projects. The project will comply with all current and future regulations. It will utilize the Concordium’s ID layer and their layer 2 consensus approach. Our goal is to build something secure so that investors can rest assured that they are in good hands.
We chose Concordium specifically with Security in mind.
Our in-house developers never compromise on Security and take the necessary precautions to put the state-of-the-art security systems in place. Every product of ours will be audited by our auditing partners and run through rigorous testing for better use.
Part 2: Question From Twitter (5 best questions)
Answers: That’s interesting, and this is one of the very few tools being used in this space. That’s called Proactive Market Making. It is set to boost liquidity across our Decentralized exchanges. Day in and day out, you hear cries of pain from crypto traders on Uniswap, Pancakeswap, and Quickswap complaining of high price impact. Using the Proactive Market Maker protocol, we can route trades through the DEX and CEX to boost liquidity and reduce the price impact, saving traders their funds and giving them more in the tokens they receive. Call it killing two birds with one stone, aye. 😎 We are excited about what we are doing at @bictoryfinance. 🥳 In regards to Security, as I’ve mentioned before, we will not only be putting safeguards in place, but we will be building our code from the ground up with Security in mind. This is a requirement for us, as we plan to build something that will attract retail and institutional investors who need secure products. We also want to prepare for upcoming regulations, which will undoubtedly come. Fantastic, and we have some of the experienced developers in this space who are helping us achieve this. Soon the entire team will be revealed on our homepage at bictory.io.
-What is the Main FOCUS of your project???
b) Partnerships and Collaborations?
Answer: I believe this question wounds around all the options mentioned. Our primary focus is our customers, but before we can deliver any solid project to satisfy our community’s need at @bictoryfinance and the crypto space at large, we need to form formidable and strategic partnerships in this space for mutual benefits involved. Still focusing on our customers, our community @bictoryfinance will only feel content with our products and services if they are secured to the maximum. Security is a significant concern to us as Ben has already stressed that. We note all the security breaches occurring in this space to deliver our community’s best products. We will also leverage Concordium’s ID layer to provide maximum Security with all the building products.
Bictory finance had the choice to build on the Concordium network because of the robust technology, and it is due to the identification layer at the protocol level. What does this layer of identification mean at the protocol level for both your platform and users?
Answer: The ID layer we will be utilizing from Concordium makes it easier and more secure to login/logout, without having to share your personal information. The ID layer represents your real-world ID, but it uses Zero-Knowledge Proof to avoid sharing your information with Bictory Finance. Concordium also has a layer 2 consensus approach. This two-layer consensus doesn’t slow down or stop if there is an attack on the network. These things are paramount to Security. Through Concordium’s ID Layer, we will have an easy whitelisting and registration process. Anybody who registers on Concordium’s network can have full access to our platform without going through any form of the strenuous KYC process.
Currently, there are many decentralized exchanges. Do you offer more options than your competitors? Why should I choose the Bictory protocol over the other platforms? What are your unique features in terms of fees and Security?
A: That’s true, and these exchanges are mainly developed based on new Blockchain networks. Bictory DEX is first and foremost built for the Concordium Community. We will, however, go cross-chain with this and offer services to top Blockchain networks like Ethereum, Avalanche, Polkadot, and luckily for us, we have a well-connected team with good network reach to secure all these for us. Talking about Security and fees,
Concordium Network offers very cheap fees for its transaction. Actually, less than half a $1. We are building on a very scalable and fast network that confirms transactions in less than three seconds! Cool, huh? and it’s at an affordable gas price as compared to other blockchain networks.
Our DEX, once fully developed, will undergo several phases of auditing and testing to ensure that Security is at its maximum 🔓.
Do you have any Coin Burn / BuyBack systems or any $Token Burn plans to increase the value of Token & attract Investors to invest?
Answer: Buybacks are healthy for the growth of any token on the Crypto market. We will look into this in the future, considering the short supply of our tokens within the Trio Ecosystem. That being said, we also plan to increase our value and attract investors by building secure and user-friendly products. Without a defensible product and something easy to use, the value will surely not follow. At Bictory Finance, we are builders. 🙂
Part 3: Free Asking (5 best questions)
Can you briefly describe your PARTNERSHIP so far and upcoming partnerships?
Answer: We are currently in our Private Sale Round C, and we have had many investors and partnerships up to this point. Chateau Crypto, Market Making Pro, Legion Ventures, Avalon Wealth Club, Black Dragon, OIG, HiLabel, EC Ventures, and MANY have not yet been announced. If you are an investor and are interested, please send an email through email@example.com with your interest, and our team will reach out to you within 24 hours to get you on the waiting list.
While you build your project, do you take into account community feedback and demands?
Answer: Hello Lucy, we at @bictoryfinance really take feedback and suggestions from our community. We have one of the friendliest communities in this space, and we welcome each of you to join and be part of us. Because of this, we have plans to launch our Ambassadorship program as soon as we launch the CEX fully. Participants will be treated with all sorts of perks and rewards, which will be discussed in the coming days.
Do you have Whitepaper? If yes, please share it with us, and secondly, do you have plans for pre-sale? Where can we join it?😇🙂
Answer: We have a Litepaper which you can view here: https://bictory.io/b_litepaper.pdf. We have completed our seed sale, and Private Sale rounds A and B, and we are currently in Private Sale Round C. We will have a public sale after the TGE in Q4.
COVID 19 has slowed many economies worldwide, but has it affected you negatively or positively as a Crypto business? Secondly, are you still on track to achieve your targets, as the road map says??
Answer: We are constantly evaluating our roadmap and updating things as necessary. That said, we are raising enough funds to stay running for 3+ years without worrying about market conditions.
As far as I can see, NFT and BSC are the next trends of new projects. As I know, there are many outstanding development projects on this platform. What do you think about this development?
Answer: Well, NFTs and Gaming are the new trends. Bictory Finance has already started researching and laying out plans of building an NFT marketplace for the concordium ecosystem. Concordium Network offers several advantageous features that major blockchain networks don’t have. Scalability, Privacy and Legally Compliant Network, Cheap fees, and fast transactions tool.
Bictory’s mission is to contribute futuristic products and services never experienced in the market. Our focus includes administering a global Crypto community as we provide the most reliable ecosystem and endeavor to give instinctive and savvy products.
Kindly examine the Bictory Litepaper to understand more about what we are busily building and presenting to the world of digital assets. Read about all of the issues concerning Bictory Finance and ask all the questions on your mind.
Don’t forget to follow us on our social media channels for current updates about the project. Continuously stay safe in these intricate and unpredictable times!