We are pleased to announce our next AMA on November 21st 2020 at 04:00 PM UTC Time: Satoshi Club x Defiance
⚠️Click to see the hour
⚠️Total Reward pool: $600
⚠️Requirements:
👉 Join Satoshi Club Telegram group
👉 Join Defiance Telegram group
We will have the following structure:
Part 1: 100$ /6 users – We’ll select 6 questions from the community. A user can post maximum 3 questions. 6 Questions will be selected from our website – please submit your questions in the comments section of this post.
Part 2: 100$/10 users – Open chat for 100 seconds. You can post Max 3 questions. Defiance Team will select 10 questions and answer them.
Part 3: 400$ – A quiz about Defiance
For more details:
Defiance – @def_finance
Satoshi Club – @satoshi_club
Russian – @satoshi_club_ru
Spanish – @satoshi_club_spanish
The 5% charged for $DEF transactions is on the high side, most deflationary tokens charge between 1% – 2%. Is this number fixed or it can be reduced in the future?
DeFiance describes itself as Polkadot’s first deflationary token. So, why did you choose to launch on Ethereum first? Will both the Ethereum and Polkadot tokens coexist together?
In your private sale report, it’s mentioned that 118,000 $DEF out of the 750,000 $DEF up for sale in the private round is currently reserved to be sold to investors who were skeptical of investing in the private round. Would this sale be done at the presale rate? If yes, what’s to stop them from dumping immediately they get the tokens since they didn’t really believe in the project right from the start?
Defiance is built on the Polkadot blockchain, but you first released staking on the ethereum network first, can you explain how that works? And how your token staking works? What is the APY and penalty for leaving pool early?
In your token distribution, I observed 7.5% for marketing funds, which also list exchange listing as one of it’s marketing funds, can you share with us what exchange platforms you are looking to list on beyond Uniswap? And I noticed the absence of airdrop on your token distribution, does that imply the project has no intention of doing an airdrop or it has already been done?
Of recent we’ve seen a lot of projects come under attack by hackers, what security measures has been taken to prevent such from happening to your project?
Why polkadot? many projects feel great on Ethereum. What advantages do you see in this network?
In case the hard cap is not reached, ~48% of the ETH collected from the sale will be added as liquidity to the Uniswap Pool. In any case, the funds in the pool will be locked.
What happens if Hard cap is reached, how much precents is going to be added as liquidity on Uniswap? In case of not reaching Hard cap what will happen to unsold tokens? What is your progress with presale for now?
Defiance partners with Bitbrain, a Swiss based company at the heart of Technopark in Zurich, which enables companies to develop a better understanding of innovations and technology trends.
How is Bitbrain enabling Defiance to make better understanding of innovations and technology, what Bitbrain exactly, how it has changed Defiance and developed understanding about these things?
What would be the circulation supply of DEF tokens on release?
Can you give us more details about on tokeneconomics?
Recently there was a problem in connecting wallet on your site and your address http://sale.def.finance was not working properly. What were the reasons for this problem occured and with this how can we have a trust on your project ?
At the early stages of Your Public presale your were already experiencing Heavy DDOS attack which created problems for your website..Did this in any way affect the running of your presale.. was any of your process tampered with by this attacks.. and how were you able to deal with the panic responses from your community during the brief periods of this attack
DEF uses a combination of built-in deflation and staking features as its main DeFi function. Each address-to-address transaction reduces the number of tokens involved in that transaction by a rate of 5%. With a living ecosystem,
if every transaction is discounted that much, then your supply of coins will decrease, what is your goal in doing that and will this be done forever?
Each DEF holder will be able to stake and earn passive income through the Defiance Staking Portal at https://def.finance
Due to the deflationary nature of the DEF token, 2.5% of the tokens in each transaction are burned, while the remaining 2.5% of the tokens are distributed among the shareholders.
So we stake will only get 2.5% even if we stake a lot?
Are you graduates of Bitbrain Academy? Or how did you become partners? Or is it a strategic move to make it easier to find young developers in the future?
Defiance and Bitbrain parnership was annnounced. What will be the purpose of this alliance and why Defiance needs other companies to search applications, solutions and implementation of the said process when you already have your own team of developers?
Investing in DeFi projects is highly risky and short-lived, how can your team provide reassurances to potential investors that you’re trustworthy and dedicated to the project?
I read about the steps you took to convince investors to boldly invest in Defiance. Of course, you will now voice them for all of us. But I would like you to add some information about who had pre-sale privileges.Who was allowed to buy more than 10 ETH of your tokens in October?Are there currently blocked accounts or have investors of all categories already received their tokens?
What are your backgrounds? How many people are apart of the team? What do you guys specifically bring to the table that separates your self from competition?
If the team plans to lock tokens for one year, how will that change with the DOT migration early next year? Would new team tokens under the DOT network have to be minted then locked again?
Staking launch – Q2 2021.DAO launch – Q3 2021 That is, for at least 4-5 months, the token will simply be speculative on Uniswap and will only be of value to the first investors, because the money has already been spent?How do you plan to incentivize holders and keep the token price?
Defiance (DEF) is a deflationary ERC20 token but afterwards it will be implemented too in the Polkadot Network. When are you going to implement this and have you considered Cosmos too for your DEF token? What is polkadot’s advantage over cosmos that you think it is much better fit in the Defiance system,.
Defiance wants to archive a deflationary token by having a 5% burning mechanism with address-to-address transaction. Will this burn rate stops when it drops to a certain amount of token ? can you describe about your staking program as this is not explained in the website.
“Leaderless structure – Defiance is a community-focused project, where each team member equally endeavors to make this initiative successful and beneficial for the community.” , who will drive the project if there’s no leader ? What can be voted by the DAO ? do you think that being the pioneer in deflationary token on polkadot has it’s advantage ?
The 2 Million DEF tokens allocated for the Defiance team will be locked for one year. After a year, will all this tokens be unlocked simultaneously or it will be a gradual release? When did you locked the teams token.
During or after the private sale, you have reserved about 118.000 DEF tokens for a special reason, why? Which part of the token allocation is it taken from? When will you release them? Who will be able to purchase them in what ways?
You have partnered with Switzerland-based Bitbrain, which aims to help companies better understand innovations and technology trends. How will Bitbrain support Defiance in determining the application areas and managing the implementation processes and how do you evaluate the partnership?
Can you give me the current price of $ DEF and the pre-sale price? So I can compare and compare and decide to buy more or less? Can $ DEF be used to hold or burn?
Defiance partners with Bitbrain. An educational institution called Bitbrain Academy has been established where Defiance team members will be trained and certified by Bitbrain Academy professionals. Do you plan to further transfer the experience to your users through some kind of training videos or articles? What other experience has Defiance gained with Bitbrain?
According to the chart you put on your web, 50% of your DEF tokens are in this pre-sale, do you think that when you sell all that $DEF, people will start selling your tokens. to serve their current monetary interests? And then will your $DEF price be drastically reduced? Maybe you have some calculation about this, so you made such a decision?
You have decided to implement Defiance (DEF) as a deflationary ERC20 token in the Polkadot network for now. How do you see the advantages of joining the industry with the Polkadot network, and can we say that the Polkadot network is the best choice for the potential to work across different networks?
How will it affect the scarcity and value of the token by reducing the amount of token in that transaction by 5 percent with the transactions made from address to address and how will it encourage people to give up the courage to sell?
DEF is Another Deflationary token we are coming across again here in Satoshi Club.. Arguably (Some may not agree) one of the downsides of deflationary Tokens/currencies is that they Basically encourage people to Not sell their Tokens/currencies they basically do so by implementing certain transaction fees that are higher than what is obtainable in other tokens… as we all know Real utility is hard to engineer, even some popular crypto currencies are still struggling to deal with the issue of providing real utility. Investors and merchants may not want to buy or accept these tokens in the far-flung future… Asides the transaction fee charge and Burns, What strategy is Defiance taking to Bring in Real Uitility to it’s Token and Ecosystem as this is what will bring in the real Demand needed for the organic growth Of DEF and the defiance Ecosystem while still maintaining the Discouraging side of high transactions fees..
Each address-to-address transaction reduces the number of tokens involved in that transaction by 5%. Almost all projects presenting us with a deflation token have this feature.
And what is the advantage of DEF specifically and what benefit can I get so that I choose you and not another project?
Collaborations are always make a step ahead in a project, Recently “Defiance” had made a collaboration with “Bitbrain”,how these collaboration are going to take over the project to a next level?
To be quite honest Deflationary tokens Have been on the increase we’ve Seen the likes of BOOM, NUKE, DKING, e.t.c in fact Almost every token/coin Now one way or the other wants to bring in Deflationary features which is indeed a much needed recipe for today’s Economy especially within the crypto space but there has been some concerns that the market does not seem to believe that deflation automatically equates to an increased price This is due to the price performances of some of this so called Deflationary tokens some of which have actually fizzled into thin air..With Bitcoin still being King as we all Know and still remaining the most sought after Coin with deflationary features in this space.. do you really think there is a Place for Defiance To thrive in this space Is there anything defiance will be doing this time short term or long term to win the trust of investors and be that light at the end of the tunnel among Deflationary Tokens.. as it is beloved that token burn may not be the real solution here
I’m interested in Defiance presale but the team is seems to be anonymous. Is the anonymity is your choice? What is the reason of being anonymous despite the presale is coming? Why would investors will choose to risk their money in your platform which has anonymous team?
Why does Defiance will be switched to Polkadot network? With this migration, what good effects that it will bring to your network? Thank you
Defiance is basically a deflationary token with a staking feature. So beside from having a staking feature, do you plan to attach other features in the future with this deflationary token like burning, lending and mining? What else in the box to make this token shine, boom and follow the trend in this overcrowded market?
Your website is looks very nice , i have seen many Governance models have been failed , whats different techniq you offer that its gonna work and win over ?
I saw a tweet about your Association with one of the world’s leading blockchain ecosystems – Crypto Valley. What innovations do you collaborate on and what successes have you already achieved?
I saw a tweet about ETH Polkadot Bridge. When I started studying the project, I thought it is another stacking pool. This ETH Polkadot Bridge intrigued me a lot. Please expand the information about the use of this bridge within the project.
As i see, there is only one source of stakers income, it is 2.5% of each transaction. That means more number of transactions would bring more of the total income, right? But on the other hand, staking is a single usecase of your token, there is no any other. That means people are interested to buy tokens once and then hold them continuously to get staking returns instead of to transact numerously. Obviously this could reduce the total staking returns, even down to zero. Have you any plan how to push token holders to transact much more often and thus increase staking returns?
Which Defi aggregator protocol does Definance make use of to be able to combine top Defi performing assets? As a farmer, how will your yield farming pool maximise my yields?
Your PolkaBridge GitHub is empty so far and i don’t see erc20 tokens allocated to support work of ERC20 Polkadot Bridge, to provide it’s liquidity, etc. Could you disclosure this step of your roadmap more detailed? Will you migrate completely to Polkadot with 1:1 swap? Or, will you create additional assets in Polkadot ecosystem to provide the liquidity for the bridge? Or, will you reallocate some qty of erc20, by reducing Uniswap pool for instance? Or,which other way?
Let’s imagine that you succeed with public sale, get the hardcap and all 5k tokens allocated for sale would sold successfully. The next logical step of each holder is to hold tokens and wait for the staking income or for a price growing due to tokens burn, because there is no any other usecase. But staking&burn fully depend from number of transactions, that is against holder’s logic. How will you generate an income if everybody (or almost all) just hold? Do you have in plans any other usecase of the token, those could push people to sell/buy it much more frequently?
When I went to DEFIANCE website I was blown away by beautiful color balls and no less good plans for the future. But as a person who went through the ICO boom, I closed my eyes and mentally wiped away everything that is not yet in reality, leaving only what we really have. In fact, we have a Live Flash Public Sale. And from the finished product that is all so far. I didn’t find anything I could try or test. Please tell me why you decided not to start with product development, but fundraising? Convince the old skeptic to open his eyes, connect in his Metamask and buy DEF tokens!
It looks like the team has chosen to stay anonymous for the purpose of privacy and decentralization. Do you think that this can scare off potential investors, because any anonymity of team members significantly increases the rugpull and scam case?
-) As a trader, I put the safety of my funds first when choosing a platform for trading and investing. How secure is $Defiance? What technology and programmable security did your team develop to build such a reliable platform?
pls tag winners
-) What programming language is clarity based on? How affective is it for building protocols?
-) What are the $Defiance plans to educate and raise awareness and adoption among the community to make more people understand about the project easily ?
Yesterday I try to access Defiance website but there is an error in there. What happen to Defiance website? It is safe to do invest with Defiance ?
Why did you choose to undergo both public and private sale? What benefits does this bring to the users…
I discovered def_finance is in partnership with bitbrain, a Swiss based technology company. Can you shed more light on how this partnership will be of benefit to the def_finance community? Thanks
Do you have plans to bring in more partners to def_finance. What major partnership are we looking forward to witnessing in the future?
For staking in Defiance, Do all wallet applicable with your pool? what wallet did you recommended to use if we want to farm in there?
In the paragraph: Partners prepared 2 free places! Have you already decided who will be there or are you looking for?
What makes this unique from other deflationary tokens around now? New ones such as Pria and Sav3 promise the same game, how is Defiance different?
According to the literature, Defiance rewards holders for holding. Is there a penalty (expressed or not) if one decides to liquidate besides the tax described in the same literature?
Other projects like this have locked liquidity to curry trust for investors. The documentation says tokens will be locked after all of the pre-sales, what assurances do investors have that this will really happen and the project won’t just evaporate as so many other promising to change the world?
What are the aspects of the project that you think will stand out and make you different?
Which markets will be your first target?
What is the budget you have allocated for advertising and how will you not be able to use this budget?
Why Polkadot, it is not yet a time-tested network and launching financial products can be dangerous. What are the advantages of a Polkadot token in General?
Will DEF will be listed on known centralized exchanges ?
When do you think to move to the Polkadot environment?
Woukd you think to try moving to Avalanche network which supports Ethereum virtual machine ?
Few days back, during your Public Sale your website was having problems due to heavy DDOS attacks. Security is one of the vital issues that have been raised in crypto-world. How did you handle such situation, what encouragement you’ve done to your investors to make them feel relief, that funds are safe and secure? What programmable technology have you added to your system so that such attacks won’t repeat anymore?
Q::Where does the project name come from? What does it mean for you and why did you choose that name for your project?
Q: How $DEFIANCE maintains and controls flexibility, cost and security which three important things on blockchain?
What are the current target markets that #DEFIANCE Network is targeting? & What do you have a Plan to Grow rapidly in terms of users, global market and partners?