We are pleased to announce our next AMA on December 12th 2020 at 02:00 PM UTC Time: Satoshi Club x DeFiBench
⚠️Click to see the hour
⚠️Total Reward pool: $700
⚠️Requirements:
👉 Join Satoshi Club Telegram group
👉 Join DeFiBench Telegram group
We will have the following structure:
Part 1: 150$ /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$/10 users – Open chat for 100 seconds. You can post Max 3 questions. DeFiBench Team will select 10 questions and answer them.
Part 3: 400$ – A quiz about DeFiBench
For more details:
DeFiBench – @DeFiBench
Satoshi Club – @satoshi_club
Russian – @satoshi_club_ru
Spanish – @satoshi_club_spanish
Currently, EDDA Public Sale is live. Liquidity providers have provided liquidity to the EDDA / ETH pair on Uniswap can stake their LP Tokens in the EDDA LP Vault, to earn additional EDDA Tokens. Will you plan to add another pair(DAI, USUD…) in the future?
Why was DefiBench decided to develop NFTs related to the world of digital currency and what is the interest on it? Also, why not develop NTF for other aspect like blockchain game platform?
The NFT platform plays a very important role of the DeFiBench ecosystem. However, many current projects do not bring real value to their NFT, so how will the NFT change with DeFiBench? Will they be real-world assets or their encrypted version?
According to your roadmap, in Q2 2021, DeFiBench will be launched. Can you explain moreabout EDDAswap and Decentralized launchpad? How Decentralized launchpad is different from traditional launchpad?
As far as i know, ETF allows investors to diversify their investments without focusing on just one asset or commodity . So what are differences between EDDASwap and other Swap Projects based on ETF? Any new feature, benefits,..?
What types of NFT DeFiBench do you manage in your catalog, can you show us how they develop in this regard?
Law on your website that you have a Vault, what function does it have, does it have an estimated time to withdraw my tokens if I save them, how are the interests if I keep my assets there, do they protect me from the market downturns?
Assets are automatically allocated to lending protocols and Aave, and there is no lock in period, but some lending projects have lock in periods, how then do you reconcile that if your smart contract distribute your crypto to such protocols?
A lot of incentives is offered to EDDA token holders. Where can we buy EDDA token? Giving EDDA token holders this much power to vote on projects to be accepted on the platform, wouldn’t that delay the process of projects operating on your platform? Aren’t you worried about that drawback?
With all this incentives offered to EDDA token hodlers is a system in place to prevent whales from accumulating the token and perverting your platform? Is governance voting on a ratio 1 EDDA: 1 VOTE? How does the governance vote work?
What are the requirements that must be met to list token onto EDDASwap? and how do you ensure the quality of the tokens listed on EDDASwap are good ones?
You were previously known as Yggdrasil. Can you tell us what the reason is for rebranding to DeFiBench?
You developed a platform called “Gain” as an alternative service to DeFiBench for novice users, how simple is this performance optimizer and what are the allocation strategies that Gain has built in for new users?
DeFiBench has partnered with leading artists, designers and producers worldwide, what is the objective of these associations in the art area and how does this relate to EDDA tokens?
The creation of your EDDASWAP is curious because it is more focused on security but does not charge exorbitant fees. How do you maintain a balance in terms of service and cost without losing profit on your DEX?
DeFiBench has developed a very interesting vault system but I don’t understand how this helps generate high levels of performance, what is the function of these vaults within DeFiBench and how is an automated performance optimization generated?
Vault systems like DeFiBench generally use long lockout periods, is it possible to withdraw my crypto assets when necessary or do I have to wait for a lockdown period on certain occasions? What is the withdrawal fee?
I saw a couple previews of your NFTs on Youtube and called my attention the spacial thematics. What’s that all about and how is related to the concept and vision of DeFiBench?
The crypto assets that deposited into DeFiBench’s Vaults are allocated across different DeFi protocols by the smart contracts powering the Vaults to maximize the yield for users. How many DeFi Protocols are included on this program and how is the distribution of assets will be done? Are they evenly distributed to different defi protocols.
DeFi protocols allow users to participate in activities such as loans and interest generation. How does DeFiBench help users avoid obtaining pockets of worthless assets and maximize their income from loan services?
I’ve been reading about your governance model through the EDDA token and I have some doubts … What level of responsibility do users who store large amounts of EDDA tokens have and what are the new phases of DeFiBench?
I have a hard time familiarizing myself with the applications and deciphering the DeFi jargon, how do you intend to create a comprehensive DeFi ecosystem in which each platform can build in a simple and intuitive way to use without great technical knowledge?
You said that NFT’s are integral part of DeFiBench ecosystem. What will be the importance of collecting / buying NFTs on your community? Are you going to develop a platform that will cater the needs of the NFT enthusiasts and your NFT holders.
EDDA token derives its name from an ancient collection of mythological Norse poems. How do you got this inspiration? And will this influence the art selection of your NFTs?
Lately there are many scams with opportunistic developers releasing questionable products to earn quick money, how evolving do DeFiBench products have to adapt to the constant evolution of DeFi?
Most of today’s DeFi applications are difficult to use for inexperienced users, how do they facilitate the experience of interacting with smart contracts or transacting on blockchain through DeFiBench?
Currently the market capitalization of all DeFi-related tokens does not even reach 5%. What solutions has DeFiBench developed to correct this capitalization problem and offer a less complex DeFi environment?
With many DeFi projects struggling to make their project into a successful one and others have result to rugpull, what security do DeFiBench provide to assure their investors that the project will not result into one of these defi projects. Do you think the DeFi industry can still continue its hype and still attract investors this coming 2021?
The total supply of EDDA token is 5000. Will there be an increase in supply if community demands and also will there be any token burning program is for EDDA token?
Considering that DeFi applications are difficult for users with no experience to interact with smart contracts or trade on the blockchain, what innovations will DefiBench bring to the financial ecosystem, how will it ensure accessibility and ease of use?
How will EDDA token holders enable the growth of the DeFiBench ecosystem through established mechanisms and what rights will EDDA token holders have in decentralized governance?
How should EDDA Token holders determine the best strategy and best rate of profit on the Vault platform, and what is the role of bids in creating or improving yield optimization strategies?
In comparison to many projects doing token sales, yours is a low allocation. Why is the allocation so low? And how long is the team tokens going to be locked for?
What is the reason that you rebranded from yggdrasil .finance in a short term and became DeFiBench? Did the rebranding, in particular, affect the composition of the team? Have any goals or deadlines changed?
Upon listing the EDDA tokens, what features will be live from the first day of listing? Can you please explain the benefits that comes with being a liquidity provider on EDDASWAP?
No auctions, bonding curves, or other complexities. Every participant will be able to buy the tokens at the same price.
There will be no discounted private sales, pre-sales, or exclusive access to institutional investors at lower valuations. Every interested investor will be required to buy the tokens through the public sale, at the same price and on the same terms as everyone else. – this are statements from DeFi Bench Tokenomics.
At the same time i found in your Telegram group that everyone that bought $EDDA before rebrand will recieve a bonus airdrop. It seems to me that I see some contradictions between tokenomics and this event. Please explain why this happened, how many bonuses have been/will be distributed among users and whether this will not affect the price of $ EDDA in the future.
I saw something about the yggdrasil. What is the meaning of yggdrasil and what is its relationship with DeFi Bench? If I purchase the EDDA tokens, what will be my benefits as an early adopter of the token?
DeFiBench is introducing a Decentralized Launchpad where Any crypto project that wishes to raise capital through this Decentralized Launchpad will be required to create a prospectus, containing all necessary information about the project… This for sure will also see scammers wanting to take advantage of this opportunity to scam people I am aware that EDDA Token holders will have to vote before a project is accepted into the platform apart from this what other measures will you be putting in place to ensure that only genuine projects make it to your Launchpad so as to keep the integrity of your platform among investors intact..
In your Token allocation, 65% of your Tokens were allocated for Token sales, while the allocations reserved as incentives for liquidity providers and Vault rewards were 10% each, which will both be available for two months from the launch of Defibench.. what I don’t understand is that after this two months has elapsed, does this mean there will no longer be rewards for vaults and incentives for liquidity providers, if yes which I assume it is, what other ways will EDDA token holders be able to earn from your platform.. and don’t you think that the allocation for Vault rewards and incentives for liquidity providers is way too small in comparison with your allocation for token sale
The fundamental vision of the DeFiBench ecosystem is to bridge together the excitement and innovation of decentralized finance with the accessibility and familiarity of traditional finance. According to popular views at the moment Defi still remains complex to navigate for new users and even those who are familiar with traditional finance models.. So In line with your aim of bringing in the familiarity of traditional finance into Defi.. what will you be adopting from the traditional finance industry into your own model of Defi, without compromising your stand of being a Defi platform… considering that you already partnered with AutheneQ for verification of your token sale participants which is not a very common feature of Defi platforms are you planning to bring in a kind of mix of both traditional finance and Defi into your platform
– Within DeFiBench Asset Management there are Vault and Gain, with both I can get yield from my cryptos. My question is, what is the difference between placing my cryptos on one platform or another? Do I earn the same APY?
– NFTs are tokens that do not have a value on their own, but rather depend on their rarity and users’ desire to purchase them. What will DeFiBench NFTs have that will set them apart from the rest and make them a good investment?
– 65% of the $EDDA tokens are intended for pre-sale, in case they are not sold out, what will happen to those tokens? Will they be burned or distributed in the future as rewards?
Eddaswap will facilitate the list without permission and trade in cryptographic assets in block chains using the Liquidity Lock security option, but that it certifies me that Defibench or I have the control of those cryptoactive?
Launchpad will provide the holders of Tokens Edda the opportunity to buy tokens in initial valuations or in initial stages. This option is not a bit risky? In case the project is pirate defibench answers me?
You will allow the holders of the EDDA token to prohibit or allow the placement of projects on the platform. Does it seem to you that this contradicts the philosophy of decentralization and leaves room for manipulation? Will the management of the platform pass into the hands of whales who will only lobby their own interests, which may hinder the development of the platform?
DeFiBench has partnered with leading motion graphic designers and 3D artists to create a specially curated collection of digital art . So, What breakthroughs it will bring to your project? And how will users benefit from this step?
DefiBench has reserved a 10% of total supply for “EDDA Vault”. You specified that, token holders can stake in the vault within the first 2 months. What about afterwards, will it be locked for a period of time, when will you distribute the rewards, what will the criteria be for distribution? Will you distribute the reserve all at once, or will there be multiple rounds of staking?
You say that part of the trading fees collected on EDDASwap will be distributed among the holders of EDDA tokens. I want to understand the usefulness of the token. How much interest do you plan to give? Payments will be in Ethereum? Or EDDASwap will have an order book and you will create a general percent pool? And payments will be in all major coins or are you making another Uniswap clone?
As you said on your website “Users can deposit their crypto assets into DeFiBench’s Vaults for automated yield optimization.” Like many DeFi products, vault is always a special mechanism. So,What are the advantages of the vault provided by DefiBench compared to other Defi projects?
In order for the project more and more develop, it needs a strong community, to do that, what should DefiBench do?
How will you focus on marketing your product in the future And What are the incentives that team brings to the community?
What economic strategies does DefiBench apply so that its currency does not depreciate and always maintains its value? When Defi world grow up rapidly, how do you achieve this and provide stability to your users?
You have some impressive teaser videos for 3D NFTs. What is your overall plan for NFTs? Do you have any innovations for NFT world or will it be just like the others?
DefiBench recently associated with HackControl. What does it mean for the development of Defibench? What will HackControl help your project achieve and develop in the future?
Most of the projects that work with NFT are done with important characters or heroes from the games they are developing. DeFi Bench is not developing any games, so what will the NFT you will be developing represent? What will it allude to?
Referring to the Decentralized Launchpad you comment that “the platform will use a decentralized verification process, by which any project that seeks to raise capital must create a prospectus with all the necessary information” Can you detail what kind of information you will ask? How can you be sure that with a serious project?
DeFi has had exponential growth, but its complexity is the big barrier for the average user. Does DeFi Bench intend to make this whole experience a little easier or more intuitive for these people, or is its focus only on large experienced investors?
I found there is an old project that you have done named YGGDRASIL, are this Yggdrasil and Defibench still have same team and vision? How about people who already invest to Yggdrasil, do they also get something from Defibench?
I must confess that my eyes shone when I read the phrase “automated performance optimization” in the DeFiBench Vault as I am still new to the DeFi protocols. Can you tell me a little more about this? How automated is the process really? Is it still profitable to be automated? How much minimum capital would you recommend me to start with?
For novice DeFi users, what would be your best recommendation to start investing in DeFi Bench? The automated performance optimization vaults or the Gain platform? Which is simpler? Which is more profitable?
how DeFiBench is different from traditional banks? How do You plan to expand un order to Attract even non-crypto users? is Your platform userfriendly ?
This may be a simple question but if EDDA Token holders will be the primary beneficiaries of the success of DeFiBench. How do you ensure that the project is on track for success? what marketing strategy do you have? and what are the key long-term goals?
DeFiBench focuses on usability and accessibility for the novice user, however the DEX platform and the simple term are totally opposite, how did you design EDDASwap to make this simple?
About DeFiBench’s Vaults. How can users access to your automated yield optimisation? Is there a requirements? What is the main benefit of this product?
What are the uses of the EDDA token? Are you listed on any exchanges? How do You deal with the Liquidity issues?
DefiBench is a good project at first glance. But what actions can you take to show your customers your unique traits? What are your next fresh plans?
On your telegram it said Defibench have an Airdrop about NFT to celebrate their rebrand name from YGGDRASIL, is this true? How to participate or what requirement to do if i want join in airdrop ?
Its a little shock for me to know that Yggdrasil project do rebrand their project into Defibench in the middle of Yggdrasil’s token Presale, is there any reason that you do this action? Because this will affect investor from Yggdrasil, they don’t trust you anymore and i believe it will also affect to new investor of Defibench. How will Defibench solved this trust matter?
Currently there are many environmental protection campaigns of many blockchain projects, whether DeFiBench has an intention or environmental protection plan?
DeFiBench has developed a very interesting vault system, but I do not understand how this helps to generate high levels of performance, what is the function of these vaults within DeFiBench and how is an automated performance optimization generated?
I read and you say “Crypto assets are automatically allocated between loan protocols like Compound and Aave” My question is what is meant by (Compound and Aave) please explain. Thank you
There is an announcement from Defibench that you already make a new partnership and agreement with Hackcontrol. What kind of agreement that Hackcontrol will give to you? And how this partnership can make mutually beneficial to both of Defibench and Hackcontrol?
In my opinion, the NFT platform is occupying such a large number that every generation has and that includes our DeFiBench. But it seems there are too many projects currently that cannot give real value to their NFT except for a few people who make up Project Defi from different types of games. What will NFT look like in the hands of DeFiBench, will they be real-world assets or their encrypted version? And can you please give me the values back of your NFTs so I know?
How did you build an ecosystem of users, partners, and content creators, bringing best-in-class digital services to emerging markets?
What do you think if Ethereum starts to choke, DeFi will move to a new platform? And what is DeFiBench strategy if that happens?
DeFi is undoubtedly the biggest hot spot this year. How does DeFiBench integrate to the ecosystem and empower it?
Can you describe more about EDDA swap? What is the best features of EDDA swap?
EDDA Total Supply is 5000 tokens. And your team spend 5% for Development and Ecosystem Fund. So what exactly are you going to develop? Can you reveal a little bit about the news, features or so on…?
Can you explain what is the connection of DefiBench to Yggdrasil? Why it is being mentioned in Defibench website?
Can you explain more about the role of your EDDA in DefiBench ecosystem? Do you believe that all of your features will meet the user expectation? And why should we invest in your project for the long term?
Hi, I saw that Founder and CEO of DefiBench also a founder of another exchange called IXMI so I have a question that will DefiBench Launchpad and EDDA tokens will integrated to IXMI exchange too ? Or just running in it’s own Decentralized Exchange? And another question that what will NFTs for exclusive holders on DefiBench platforms used for?
I know that you want to facilitate the representation of unique, real world assets through tokenization on the blockchain but people nowadays just want to take advantage from it (like use it to Mining, Staking,…) and don’t care about the real arts, the unique of it so how will you solve this problem and to educate people what is the real world assets, the representation of unique of it ?
Theres a 10% of EDDA destined to Vault Rewards. I see there’s a 5% perfomance fee from the yield generated that will be distributed to EDDA Token holders. Beyond that, what features has the Vaults of DeFiBench that makes it worthy of your users time?
I was researching your website and I think it has a very nice design, also very informative. But didn’t find a technical document to read about the security details. Can you tell us more about it?
What is about your DECENTRALIZED LAUNCHPAD? In this Launchpad what will be the main advantages for EDDA holders? Can they get rewards for holding EDDA or can they vote for token to get listed for the Launchpad?
You have mentioned about NFT and Digital Art and according to your roadmap you will launch NFT platform in Q4 2020.Now what is the status of NFT and Digital Art? What will be the killer features on these platforms?
EDDA total supply is only 5000 token. Do you have any plan on allocating some of them for liquidity? And are you going to lock them? Or do you have another plans to make believe investors on DefiBench?
Do you have any plans on building a mobile app for DEFIBENCH? Most of the new projects are launching a mobile App with so many new features and rewarding opportunities recently. What are the plans on launching a mobile App for DEFIBENCH?
You have mentioned about your partners “authenteq, HackControl,LXMI”, what kind of partners are they for DEFIBENCH? Have they invested on your project or any other relationship with these partners? And what are the plans on building new partnerships in future? Great Partnerships always give a great potential to the project
Can you explain about your tokenomics? One of the main important topic of the project. How much will be allocated for liquidity fund and Liquidity provider incentives? Because according to your website total supply is only 5000.
As I can see DEFIBENCH is not listed on CMC or Coingecko. Have you applied to get listed on CMC or Coingecko? Because recently most of the new projects were scam and investors always believe on CMC and coingecko
As a defi + NFT project what is DEFIBENCH’s main product you are going to launch. And what are the plans to get that product famous in worldwide. Because If it is a good product,Even non crypto investors will look in to the project.
What is Aave project? Is it a combined project with DEFIBENCH or a separate project. What is the relationship between DEFIBENCh and Aave ?
Cryptocurrency markets are inherently highly volatile, what mechanisms does your asset management platform use to minimize the impact of such adverse market movements?
How will farm exclusive NFT work on DefiBench Gain platform? What other unique yield and lending features will be available to EDDA token holders?
DeFiBench recently announced a partnership with HackControl. What security aspects did Hackcontrol provide you with? What do you expect from this collaboration in the future?
When withdrawing cryptocurrency from Vaults or DeFiBench Gain, we pay a management fee of 0.5% and an execution fee of 5%, which are distributed among the holders of EDDA tokens. And if I am also an EDDA holder, then in this case I also receive some part of my commission back?
Whаt strategies dо you use to optimize performаnce autоmаticаlly. Hоw dоes an autоmatеd systеm dеal with high volatility and can guаrantee the safety of funds?
DeFiBench is also developing the NFT niche. What genres of digital is DeFiBench targeting today? Do you provide support to developers and creators of digital items?
You said that you are exploring the possibility of tokenizing real assets on your DEFI platform. Can you tell us in more detail what assets you plan to tokenize and what benefits the holders of EDDA tokens will receive?
Today, many projects pre-selling to the public, this is a smart product introduction strategy, so does Defibench open a public pre-sale? What is the minimum nominal to participate on Defibench?
Why did the team choose such a low allocation for themselves, only 5% …. compared to other projects? Is the team motivated enough to create a large-scale DEFI project?
Why is DeFiBench Management Systеm unique? Whаt will be the management rеstrictions? Will usеrs with а smаll amоunt оf cоins be аble tо pаrticipate in manаgement?
The crypto assets I have contributed to the DeFiBench Gain platform will be distributed among the lending protocols, which will allow me to receive interest. How much can I earn and are there any conditions for me?
Building a cоmprehensive ecоsystem of DeFi apps requires significant skills frоm team members and financial resources. Do you have enоugh peоple with the right skills on yоur team? Fоunders, Developers, Advisоrs, R&D Manager? Has the prоject received support from large funds or investors?
One of the main problems for the mass adoption of modern DEFI is poor design and poor user experience. How does DeFiBench address UI / UX limitations and challenges? Is DeFiBench easy to use?
In addition to being able to participate in governance, what benefits will EDDA token holders receive? Can I have some numbers on staking, liquidity provision?
Is there an option for users or graphic artists to create their own NFTs on the DeFiBench platform? What tools does DeFiBench offer for digital art creation?
What is the DefiBench project primarily focused on: Vaults, DeFiBench’s Gain, EDDASwap, Launchpad? Which development vector has a higher priority over the rest?
The total EDDA supply is very small at 5,000 tokens. Does this not threaten centralization? How do you ensure that the whales and the big player don’t buy most of the tokens? How do you ensure fair distribution of tokens among users?
December 2020 – Launch of the NFT platform. Different projects create NFT for different purposes: someone as a means of payment, someone as an asset for sale and purchase, and someone just for art and they cannot be sold. What is your goal of creating an NFT for EDDA token holders?
EDDASwap will simplify thе listing оf cryptоаssеts, which will аttrаct the аttention of attаckеrs. How do you plan to prevent listing of fаkе prоjects?
I have a question for Head-Communications. I apologize for the awkward question and at first glance having no reason to ask it. But reveal the secret of why such a young-looking girl took the nickname CryptoBabushka.
Tell us about the text from the promo video.- In Pow wow we trust, Thos who know, know. What this about? Are you saying that the belief in proof of work is knowledge or is it encrypted deeper thought?
We are expected to see your DEX in the first quarter of the 2021, tell us about its future functions. Will it be fork of Uniswap, or you aim to create a newly DEX out of scratch, which new features we can see there and how you will intend to prevent “rug pulls” on your DEX?
How do I generate returns on my investment in EDDA tokens? Do you conduct any financial operations to make a profit or invest in the creation of production? After all , if I just buy a token, and the funds you received for this token will lie on the address of the contract, then the profit will not grow by itself. Please explain to me as an investor what is the yield and how it is generated?
10% of tokens will be added as liquidity. That is good. How about ETH? How much of the funds you get will be added as liquidity and for how long?