We had a thrilling time with Crypto Daku Robinhooders Community on 26 July 2021 in an AMA session. It was a productive time with a passionate community of Crypto investors.
Our host was Daku Saurabh from Crypto Daku Robinhooders, and Bictory Finance was represented by Benjamin Marchant, our Marketing Lead, and Kelvin Emmra, Community Marketing Manager.
Below is the entire discussion that ensued at the session:
At the start of the AMA, we will mute the channel for the team members to introduce themselves.
Ben : 👋 Happy to be here @saurabhblr!!
My name is Ben and I am the Marketing Lead for Bictory Finance. I manage the marketing team and do everything from project planning, strategy, research, AMAs, and I manage the day-to-day marketing operations. 😄
Kelvin Emmra: Hello Everyone, and thanks for the invite @saurabhblr.
Kelvin Emmra: Hello 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 have been in this space for about five years and over. I started as a content creator for some marketing firms, business development role for DAO Maker. 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.
Daku Saurabh: :) Curious for both of you: how you started in crypto and what were your worst and best bags!!
Kelvin Emmra: Ahh, well…everyone has a starting point. Ser, don’t remind me of those days, but I would share so crypto starters can take a lesson. My greatest bag was Shivom from Amazix, and my worst is MiracleTele. Unfortunately, I happen to have my friend Ben Marchant in this same project, so yeah, we both lost in that one. However, it’s been great going forth, and the lessons have been worth it.
Ben : A few years back, a coworker introduced me to crypto, and I started mining it with my graphics card. I’ve been hooked ever since. I have worked on marketing for cryptocurrencies with Kelvin, and he introduced me to Bictory. I’m really excited about what they have in store. It is going to be a lot of fun! Worst bags…too many rugs to count. I got down in the mud investing in shit coins… 😂 Best bags have been 1inch, ETH, and a couple of others I can’t think of off the top of my head.
Kelvin Emmra: Oh, 1icnh was a good one when they airdropped those tokens 😌
Questions From Admin
Boomer: Can you tell us more about the project, the idea, how it started, and especially why it’s needed or how is it disrupting?
Ben: Taking a close look at Decentralized Finance, we noticed there are quite a number of obstacles that crypto investors are facing, such as inadequate liquidity on DEXes, difficulty in raising funds, delayed and cumbersome whitelisting process, high price impact on DEX as a result of low liquidity. We believe that these are major issues that the DeFi space is battling at the moment, and we find the Concordium Network very suitable to build upon to achieve our goals.
As far as the Centralized Exchange goes, we saw an opportunity to utilize Concordium’s ID layer technology. This process allows anyone who has completed the KYC process on Concordium to utilize our CEX or even our other platforms without KYC with us directly. It also provides a more secure way of operating as we are not storing personal information.
Also, from the DEX perspective, our trades would be routed through a Proactive Market Maker instead of a simple AMM like most DEXes have, which sometimes brings about a high impact due to the slippage implied. The Proactive Market Maker that will be used would help us boost liquidity on our DEX to reduce price impact on the DEX.
Kelvin Emmra-Our founder Joha happens to be one of the early members of the Concordium Community. He saw the potential of the Concordium network and the advantages it would bring to the crypto community at large and made plans of building solutions to this.
Daku Saurabh: Joha is nice person. One of the oldest members of this group when we started :)
Ben : Joha is a great guy. I’ve really enjoyed working with him.
Boomer: That sounds great. Can you tell us about the market pie you are trying to conquer, your competitors, and your SWOT analysis for your offerings?
Kelvin Emmra: This image shows clearly our SWOT analysis.
Daku Saurabh: Well written one!!
Boomer: Looks good.
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 like 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: 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.
Kelvin Emmra: Yeah, our researchers did a great job
Boomer: Moving on to the next question. Who are your advisors and backers? And can you tell bit more about team members?
Ben: We have many great investors, as well as advisors. We have Dylan Dewdney as an Advisor/Investor, he is the CEO of Klyin. We have Kristjan Kosic from Protokol, and Lars Resnig also from Protokol as investors. As far as investors go, this is a portion of them, with more to be announced in the future. As advisors, I mean, for Lars and Kristijan.
Kelvin Emmra: We get that a lot :D
Ben : We also work very closely with Concordium since we will be the first DEX on Concordium, and we will also be applying for their grant.
Boomer: Sweeet. Let’s move on to the next ques and a very important one
Kelvin Emmra: Uh-huh…when there is support from the parent network then you sure know we’re going wild.
Boomer: Can you tell the community about tokenomics, token utility, and TGE?
Boomer: Can you tell the community about tokenomics, token utility, and TGE?
Kelvin Emmra: Oh indeed! A very important one haha.
Kelvin Emmra: The part where the community gets excited and asks when this? When moon? lol
Kelvin Emmra: Well, Bictory Finance has a very unique Token Model, and the supply compared to how large the ecosystem is going to be, is incredible. Just take a look at the image.
Kelvin Emmra: With regards to Token Utility, we got our content creators to dive deep into the Tokenomics of bictory and expand it as best as they can. So folks can hold unto their 💎. Here is a detailed write-up of our tokenomics and how it would function within our Ecosystem
I can equally give you some bulletins of it.
$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.
TGE, however, is just around the corner as we wait for Concordium to release their Smart Contracts.
Boomer: Looks interesting!!
Kelvin Emmra: Currently, we are targeting the early days of Q4 or even late Q3 depending on when the smart contract is released.
Daku Saurabh: What will be Marketcap on launch.
Kelvin Emmra: The marketcap at TGE would be $6,850,000, and this is relatively small if you consider a fully operating CEX, DEX, and a Crowdfunding platform all within one ecosystem.
Boomer: Sounds good 👍
Daku Saurabh: Looking forward to TGE!!
Kelvin Emmra: Well it’s coming soon and luckily we are still in our private sales you know.
Kelvin Emmra: Anyone willing to participate in our Private Sales can send us an email at firstname.lastname@example.org. Ready when you are Ser.
Boomer: Moving on to the next question.
Boomer: Here it comes. What is the next 100 days’ plan? Tech-wise,
business development-wise and user acquisition-wise.
Ben: Tech-wise, we have a team of developers working hard to prepare our Alpha launch of the CEX. It is coming soon, and those early investors who have participated in our private sales will be the first to try it. The CEX is nearly ready for the Alpha launch, so that is our focus. That being said, we also have developers working on building the DEX. 🙂
Boomer: Nice :)
Ben : Business Development is in full swing. We are meeting with advisors and investors regularly to plan the best strategy for Alpha launch, then Beta, then public, plus on top of that, we are planning for the launch of the BT token once the Smart Contracts are ready. So in short, we have LOTS of meetings 😉 For user acquisition, we are mostly trying to build up our community at this point, since we aren’t ready to start signing the public up for the CEX. That being said, we have weekly social media competitions for our community and are rewarding the winners in USDT. Our second competition just ended, and we have another coming soon.
Ben : For the Alpha, the initial user base will be our investors, then we will seek to bring more of the public into our platform.
Daku Saurabh: Before opening for community: tl/dr: about bictory and why one should keep an eye on it. :)
Ben : As mentioned before, Bictory Finance will be a project with multiple platforms, all unique in their own way. We will have a CEX, DEX, Crowdfunding platform, and an NFT project yet to be announced. We will build on top of Concordium and use their ID layer, which will make our platforms, easy to use, and very secure. We have great advisors and will be working closely with Concordium to ensure our project’s success.
Daku Saurabh: Let’s open the chat for questions from the community.
Channel UNMUTED for NON ADMINS
Channel muted for team to answer!!
Ben — Bictory Marketing Lead: We will not be based on ETH, but Ethereum certainly paved the way for smart contracts. Now, other projects such as Concordium will be building their own smart contracts which is what we will use. That being said, in the future, we will also want to open our CEX to many of the major networks such as Ethereum, Solana, Avalanche, etc. The future possibilities are endless.
Kelvin Emmra: That’s true. We are currently in our Private Sale C after raising about $3.15M from our seed rounds to Private Sale B. We are still in the funding process, and you can join @bictoryfinance and also send an email to participate via email@example.com That’s right, and our roadmap is in the works of getting updated as we speak to show forth our long-term plans and how we are going to roll them out.
Absolutely hence why one of our Go to market strategy is to have Ambassadorship roles who would focus to developing and exposing Bictory Finance in their locals. Everyone is always welcome to join @bictoryfinance
Ben: Concordium’s ID layer what will keep users identity private, but on top of that because Concordium will be a regulated project they will meet all security standards required by law and more. Because we are using Concordium. We will be required to abide by these same security standards. We will work with a cryptographer to ensure this is done, properly.
Kelvin Emmra: Our SWOT analysis sums it all up…however, as we have stated clearly, we don’t have head-on competitors on on the Concordium Network neither it’s community. We are one of the first movers. Lots of exciting things to come forth!
Ben: We will definitely be releasing an ambassador program in the future. This is not yet in place, but the best way to become one in the future is to join our Telegram channel and start getting to know the community and the team. When the time is right we will want people that have a solid grasp on our project and a relationship with the community.
Kelvin Emmra: I share your frustration, having been in the crazy ICO days with all the non-existent projects right now. However, this is a project that is spearheaded by a passionate team of experienced people. They are doxxed, as you can see, and we have a group of experienced advisors backing as well. Venture Capitals would have not opted to invest with us if they did not do their due diligence and know that this is a formidable team that can bring this project to success. Bictory is here to stay and happy to have you join along @bictoryfinance anytime!
Ben : There will always be innovative projects, but we are at the forefront of this. Concordium has scientists and researchers who are world-renowned to make sure they will be a well-regulated project. Bictory Finance, on the other hand, has done our research as well and has many plans for the future to innovate and provide top-notch platforms that people will enjoy using.
Kelvin Emmra: Absolutely, P2P and fiat gateways with the use of fiat on-ramp services are one of the ways to go if we are looking to have within our ecosystem traditional investors. Our tokens are very limited in supply. Though we don’t plan on burning any at the moment token buybacks are one of the things the team would put in place to support the token value across the market. In addition, we also have a Market Maker onboarded as one of our partners.
Ben : Thank you for having us @bigshort08 and @saurabhblr!
Kelvin Emmra: Thank you folks
Ben : And thank you to the community! Your questions are all amazing, wish we had time to answer all of them!
Kelvin Emmra: you can follow our official handles in here))
Telegram News: https://t.me/BictoryNews
Medium Blog: https://bictory-finance.medium.com
One Pager: https://bictory.io/one_pager.pdf
Daku Saurabh: Thanks, team for joining us for this AMA, it was a pleasure to host you.