We are pleased to announce our next AMA on December 13th 2020 at 04:00 PM UTC Time: Satoshi Club x SCIFI Finance
⚠️Click to see the hour
⚠️Total Reward pool: $800
⚠️Requirements:
👉 Join Satoshi Club Telegram group
👉 Join SCIFI Finance Telegram group
We will have the following structure:
Part 1: 150$ /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: 150$/10 users – Open chat for 100 seconds. You can post Max 3 questions. SCIFI Finance Team will select 10 questions and answer them.
Part 3: 500$ – A quiz about SCIFI Finance
For more details:
SCIFI Finance – @sci_finance_trading
Satoshi Club – @satoshi_club
Russian – @satoshi_club_ru
Spanish – @satoshi_club_spanish
The document that projects normally call “whitepaper” is called “darkpaper” on your website. Does the name have anything to do with the good vs evil dichotomy or you just thought to stand out with this?
Other than being a governance token, do you have any other use for $SPICE? Can you tell us why the team believes it’s necessary to create $SCIFI and $SPICE, when $SCIFI might be SUFFICIENT alone? Isn’t it preferable to make it that the volume of $SCIFI accumulated by a holder is sufficient for governance, instead of relying on a second token($PICE) to govern the first ($SCIFI)?
$SCIFI is free and always will beWhat exactly is meant by this statement? What is free about $SCIFI?
Can you share with us the function of mission control? Who are those in mission control? Do Galactic Council acts as the advisors of Mission Control? What happens when a member of the Galactic Council opts out? Is a new member selected by Mission Control or is the option left open for voting?
The governance of SCIFI is driven by the Galactic Council, but when will the time come that the governance of SCIFI will be fully controlled by the community? What kinds of decisions will users be able to make? Can they be part of the development and objectives of SCIFI?
The SCIFI token is based on ERC20 technology. How is it possible that they offer zero fees forever? Doesn’t high ETH fees affect you? What strategies do you use to combat this problem?
How is the SPICE token different from the SCIFI token? What are the uses of each? Which of the tokens will be used for governance?
Who makes up the Galactic Council and what are its main functions? Could I have the opportunity to be part of this Council? What will be the privileges What will native token owners have?
I have read SCIFI using the term senator several times, but I don’t really understand it yet. What are the functions of senators in the SCIFI ecosystem and who might be part of the senators?
The website says SCIFI does not charge any management fees. Is this true? Do you charge fees other than management fees?
Would you mind to explain me about the ‘Galactic Council’? What’s that ?
” Security and privacy ” are very important. How secured is SCIFI for its users ?
Currently a lot of crypto investors use phones to work, so does SCIFI FINANCE have a plan to develop a platform on IOS or ANDROID?
I have friends who are lovers of gems and I am more in favor of ERC20 tokens, what advantages are there in merging the potential of gems with the characteristics of an ERC20 token and how could this capture the market?
You have developed multiple subdivisions within SCIFI Finance and I don’t know which is the function of each one, what is the difference between SSPICE and SPICE DAO and how do they relate to the galactic council?
There are investors who seek to expose themselves to future projects but through representative investment rules and indices. What is the design of the SSCIFI index and how do they guarantee transparency to investors?
SCIFI will be tradable on Uniswap and other DEXs but you didn’t mention slightly less decentralized exchanges, have you considered trading your token on platforms a bit different from UNISWAP like Binance, Kucoin or Huobi?
I have read in your Darkpaper that SCIFI is represented by an ERC-20 token that can be exchanged on Uniswap, what are your plans regarding DEXS and how do you handle token farming for your own benefit and that of the community?
I like the concept that SCIFI uses to refer to market capitalization but I have a question, what has SCIFI Finance done to generate diversification in capitalization and offer a better service to investors?
Currently, the Scifi Finance project is in beta, can you tell us about your roadmap? Do you feel DeFi adoption is currently hindered due to lack of UI / UX? How would you improve this?
With ZERO FEES, what are the benefits and incentives for users? Is it effective in new users? And where does SCIFI’s main revenue come from?
Platforms like SCIFI commonly reward those who generate liquidity, what rewards do those who participate in the SCIFI ecosystem get through the cultivation of a token or through other interactions?
How does the SCIFI basket work according to the selected ERC20 tokens and what levels of capitalization do these tokens receive?
I like your governance token but I don’t understand how its generation process works, what is the relationship between the provision of liquidity in the cultivation of SCIFI and how do I earn more SPICE tokens?
In your technical document it says that you will develop a system of individual baskets in the future, what is the function of these baskets as opposed to the ones that are already established and how do they connect with SPICE?
There is an inconsistency in the management fees of SCIFI and SPICE, why does SCIFI have a completely zero management fee and SPICE maintains a 2.5% fee? What is the strategy of these fees according to the type of token?
Your galactic council will always need new members for the next decisions and as a means of reward for SPICE holders, how often do you recruit new members for the Council and what is the minimum of SPICE tokens that holders must have for this?
Your GitHub account has 1 repository and no activity at all. Do you intend to use it or you made it only to check a mark that people are usually looking for?
We know that the Galactic Council was initially set up by Mission Control and SPICE DAO can select new members for the Council every 6 months or extend its existing seats for another 6 months. Can you give us detailed information about Mission Control about Spice DAO?
We see that you have produced two tokens named $ SPICE and $ SCIFI. What are the similarities and differences of these two tokens and why did you generate 2 tokens?
Your website design is very different i am not able to study your website can you fixt it?
Scifi Finance announce three more additions to Scifi Finance lineup of influential figures and experts in the space,can you explain that? What is the benefits?
$SCIFI Represents a basket of crypto gems, selected based on Fundamental Analysis, market potential and more…. do you have a limit to the number of assets in this basket, and after the assets to be added to this basket have been selected how does the individual price performance of this assets go on to affect the value of $SCIFI.. will it be a situation where most of the assets making up the basket have to perform well before the value of $SCIFI Improves?.. in other words how does $SCIFI respond to the performance of the Assets that make up this basket..
Your hand-curated basket of gems $SCIFI will be automatically rebalanced on a monthly basis…. what does this rebalancing do… does it have to do with adding or removing assets from this basket which I suppose should be through your galactic council or DAO platform… in other words what happens after rebalancing has been done and why does this have to happen on a Monthly basis…
Despite the fact that Assets with low Cap have big potential for growth they are also Known to possess very high risks of incurring Loss for investors due to their very volatile nature.. Why did you decide that your baskets will be made of Low CaP assets.. don’t your see the inclusion of low Cap assets as being too risky for your users… do you have mechanisms in place that will help in mitigating risks that comes with this low cap assets…
“$SCIFI is free and always will be” Can you give us a brief explanation of the logic and facts behind your politics of zero fees? How do you make it work?
You have recently introduced part of your Galactic Council in twitter, among them are Crypto Dog, Lilmoonlambo, Pentoshi, StackingUSD and Wolf of all Streets. What is the purpose of this Council? And how can benefit both senators and SPICE community about all this?
Volatility and Liquidity have become a major issue for crypto assets. How can volatility be reduced with SCIFI and how can liquidity be higher?
Why does SCIFI aim to provide a truly decentralized index for small cap token projects? And why do you guys want to make yourselves unnecessary?
Sure. SCIFI is an index token while SPICE is a governance token. Of these two tokens, which one has more demand and impact on the token economics? And I read that SPICE is supported by the senators. Whao are these senators?
You suggested that the community independently choose one of the tokens that will be added to the $SCIFI index. At this stage, this is just a vote on Twitter, but apparently this is the first step to DAO? Tell us how the vote is going, can we take part in it?How will the selection of tokens take place in the future? DAO SCIFI is waiting for us?
I searched for your roadmap but couldn’t find it.
Where is the $SCIFI road map now? Are all targets in accordance with the current road map? and what are the next steps that will be taken in the future?
– What is the Galactic Council and what is needed to be part of it? Can Satoshi Club be part of the Galactic Council?
– Both $SPICE and $SCIFI will be available through Uniswap? What other ways are there to get $SCIFI?
– How does $SPICE influence $SCIFI? Is there a close relationship between the two tokens?
What is “Big Bang” in Scifi Galaxy? When will it happen and the most important what will happen after the explosion?
Have you already set a date for the Big Bang? We are all waiting for the promised announcement of the constituents SCIFI.In what format will the Public Sale (Big Bang) of $SPICE tokens take place? What price levels have been set and what are your expectations from the sale?
What are some of the characteristics or qualities that you look for when electing the galactic council of SCIFI finance?
What is the behind story of the brand identity of SCIFI Finance? Who came with such a unique concept and what inspires you to present a branding image so diferent and appealing to the younger generations?
The way you designed the site and the overall concept related to space just forces me to ask about NFT. Now this topic is becoming more and more hype and it seems to me you should not be left out of the NFT hype. Have you already thought about cards with the image of Darth Vader? NFTs are now used as regular tokens for farming and staking.Although the style of the site tells me that the first image should be Sheldon Cooper from The Big Bang Theory!Bazinga))))
As far as I can tell, $ SPICE is an administration token that grants administrative control over the SCIFI coin, the Galactic Council, and the Galaxy Treasury of $ SPICE holders. Spice will always be expressed in $ SCIFI with a fixed distribution of 2.5%. So what will I need to store tokens in the Milky Way? And what is the minimum or maximum amount to make a profit? If 100 $ SPICE, in 1 month of stake, how many SCIFI tokens will I receive?
Scifi Smart Contract has been audited by Chainsulting. How are the results? Do you need to fix anything? Will you also counduct a bug bounty?
Is there a difference between SPICE and SCIFI tokens? Will one of those tokens supplement the other? And if I stake $ SPICE with a quantity of $ 1000, what will come to me, is it the SCIFI coins along with how much is the amount received? Is SPICE just a portal and SCIFI is really the co-potential and the hub of both SCIFI Finance?
Part of your Senators functions is educate the community and carry a good message of $SCIFI and $SPICE. This is a big responsibilty, what is the criteria to choose one of them? and what happens if someone of the chosen ones can’t make a good perfomance?
SCIFI Finance aims to combine the highest yields in the known universe into $SCIFI and farm $SPACE. That’s a huge mission! What will you say is the biggest barrier you have to beat in DeFi world since there’s a lot of projects ERC-20 based protocol that offers similar things and most of them doesn’t succeed?
$SCIFI is a curated index of ERC20 tokens, which is 100% collateralised by the tokens it represents.How to understand this phrase? I go through the options in my head what this might mean, but I do not find a convincing version
“ZERO FEES
$SCIFI DOES NOT ACCRUE ANY MANAGEMENT FEES. THIS PRODUCT IS DESIGNED TO MAXIMISE PARTICIPATION BY THE COMMUNITY.
$SCIFI IS FREE OF FEES AND ALWAYS WILL BE.”
I don’t understand this very well. Can you share more about “ZERO FEES”?
If SCI Finance has ZERO FEES, where will your profits come from?
$SCIFI is a community driven project that will be fully governed by the holders of the $SPICE governance token after the initial kick off phase of 6 months. So for the first 6 months the community would be governed by? And is that the only use of $SPICE token? Governance? Or are there other uses?
On a marketing level, what strategies has been employed to ensure the early adoption and subsequent purchase of your project?
What privileges does the SCIFI provide over the Galactic Council and Galactic Treasury to SPICE token holders, and what role does it play in governance?
How does the Galactic Council provide Mission Control for the $SCIFI mission and how are new members selected for the council?
How are liquidity pools created for SCIFI and how will users mediate raising funds to provide liquidity and print SCIFI?
According to your medium article that One of the tokens in $SCIFI will be chosen by the community. Vote for your favorite token to be included. The winner will be added to the $SCIFI index through an investment in that token. Can you explain more about the process in token voting by the community in Sci-fi Finance network? Can you also describe more about the Scifi index? How does the voted token be invested?
What is an index token? How is it possible to combine assets with different volatilities into one token? Perhaps a stupid question from the point of view of a specialist, but I would like to know what it is on the example of your token. And most importantly, why is it needed
Scifi offers zero or free fees, can you tell us what are the transactions that can be done with Scifi that offers zero fees? If you offer zero fees, is there any hidden charges we can expect with the transaction? Scifi is an ERC-20 token,how can you offer free fee?
I read the information and know that $SCIFI Finance built on DAO Governance structure but I know that in the future will have a BIG PROBLEM that DAO Voting usually manipulated by Whales/Sharks, many of them DOMINATING the VOTING process, provide unfairness/disadvantage for many small investors. Because of more token = more power so it’s VERY EASY for Whales/Sharks so WHAT SOLUTION $SCIFI will how to do in this SITUATION as DAO PROJECT?
Will I be able to form a basket myself based on my own preferences and willingness to take risks? Will there be top coins? Or will you only work with ERC-20 and ETH tokens? Is there a minimum barrier to entry and management fee?
Community can vote for their favorite token to be included on the $SCIFI index. What if the Erc20 token that was selected is not giving the desired outcome and not performing well? Do $SCIFI just add it because of popular vote or you will have criteria to be followed to add the token on the $SCIFI index?
To ensure the quality and security of the $SCIFI and $SPICE smart contracts by an independent third party, a contract audit was executed. As a result, both the $SCIFI and $SPICE contracts passed the audit in all categories. But i still worried about the security of user data and privacy because many project said that their security technology is really good and the result was hacked like KuCoin and some big exchanges. So my questions is : Does SCIFI Finance really ensure the security of user data and What solutions will you have if an unexpected problem occurs?
$SCIFI is a DAO-governed crypto index as such, the DAO should be involved from the very start. Besides that,SCIFI also delegate the decision for one of the tokens in the first set of $SCIFI constituents to the larger DeFi community. So what if DAO-governed crypto index and community make the different decisions, how do your team handled with it?
This question I want to send to the web designer. When I first visited the project website, I was very interested in the project’s design language. It is sophisticated and highly experiential with a unique galaxy storyline. But with that is not high visualization, the main color of the web makes me quite eyesore and difficult to find information. I think many people also felling in the same way. What do you think if you change the main color tone of the web with deep colors and do not lose the mystique of the universe that comes with displaying information will be more accessible to users? I hope my ideas will help SCIFI more develop.
Why do You think that The world of finance is on the brink of disruption? Understanding this is very Important to me, as I will make a decision about investing in SCIFI based on how much honest explanation You give to the above words. In other words, if these serious words about the destruction of the financial system are just for the sake of big words (hype), then there is a lot of hype in the project, and not a financially verified strategy.
Galactic Council Senators
1. The Crypto Dog
2. GAINS Associates
3. Lilmoonlambo
4. Pentoshi
5. StackingUSD
6. That Martini Guy
7. The Wolf of all Streets
8. Young and Investing
The first round of Senators in the Galactic Council of $SCIFI is already selected. Some of them I know courtesy of Twitter, how are they selected to be Senators. Did they invested on $SCIFI, and approved via voting by the community to be Senators?
$SCIFI is a curated index of ERC20 tokens, which is 100% collateralised by the tokens it represents. Do you have plans to include other more cryptocurrencies in the future? Why did you concentrated on building your $SCIFI index around Erc20 tokens?
How can i become a validator on $SCIFI? what are the requirements to become a validator on $SCIFI? What are the benefits of becoming a validator ?
How will the migration of Ethereum from PoW to PoS will affect the $SCIFI?
Many projects launch campaigns to interact with users. Does $SCIFI have any specific plans to attract and grow the community or improve user experience?
In the galaxy of centralized Finance, collateralized means — The act where a borrower pledges an asset as return to the lender in the event that the borrower defaults on the initial loan. Security is subject to seizure by default. A pledge is a form of security. What does SCIFI is 100% collateralized in your galaxy mean?
– The token is secured with blocked funds and if some conditions are not met, your security may be seized by the smart contract? If so, how Much of your funds have you blocked to secure SCIFI?
Actually safety and security are the most important thing that i check before invest to their project. Only a few error can be dangerous for the asset. Have you do audit for your smart contract? If yes please share the result in here and if not, when will you do audit for SCIFI project?
It looks like the SCIFI team has chosen to stay anonymous for the purpose of privacy and decentralization. Don’t you think this can scare off potential investors ? because any anonymity of team members significantly increases the scam case?
After read in your telegram, SCIFI team will do public sale Soon. What will you do with the fund that SCIFI team get from public sale? What date exactly that your public sale will open?
Im just curious about SCIFI project, did you get an idea for create this project from Star Wars Or another SCIFI movie? Because I see a lot of similarity with star wars movie like you have ‘Galactic Council’ or your telegram admin which use username as ‘Dark Helmet’ and his PP using dark vader helm
Although DeFi has grown a lot and promises great things, they have a big barrier that cannot be ignored: “THEIR COMPLIANCE”. In CeFi people deposit their money in the bank and there is no more, but if they dare to bet on DeFi they will realize the great amount of strange terms that will make most of them go back. Does SCIFI Finance pay attention to this? How do you make DeFi more accessible? Or will you limit yourself to the finite population that knows about the subject?
What is really the function of the Galactic Council? As experts, do they have more weight than the community in the decisions that will be made within the project? Or what will the dynamics be like? How much power will they have?
In a publication you comment that one of the ways we can coin $SCIFI Token is by “sending the constituent baskets as collateral for the $SCIFI smart contract” however we don’t know what the constituents are yet. When will we know? Why does Mission Control still have it private?
“A total of 42 million $SPICE exists. All $SPICE will be distributed over a period of a maximum of 5 years for A) the creators and infrastructure providers of the project, B) active participation through promotion or liquidity farming and C) for passive support (hodling) of the SCIFI mission and its partner tokens.”
What will the plan after 5 years ? what will keep the user to keep staking after this timeline? Thank you
The Galactic Council even though it is elected by the community makes the idea of SCIFI Finance being a Decentralized project a bit blurry. Is this necessary? What is the idea behind all this?