We are pleased to announce our next AMA on April 8th 2021 at 12:00 PM UTC Time: Satoshi Club x Amplify
⚠️Click to see the hour
⚠️Total Reward pool: $500
⚠️Requirements:
👉 Join Satoshi Club Telegram group
👉 Join Amplify Telegram group
We will have the following structure:
Part 1: 100$ /6 users – We’ll select 6 questions from the community. A user can post maximum 3 questions.
Part 2: 100$/10 users – Open chat for 120 seconds. You can post Max 3 questions. Amplify Team will select 10 questions and answer them.
Part 3: 300$ – A quiz about Amplify
For more details:
Amplify Website – ampt.tech
Amplify Telegram – @ampttoken
Satoshi Club – @satoshi_club
Russian – @satoshi_club_ru
Spanish – @satoshi_club_spanish
What is Amplify? what solution is Amplify providing, Your goal, Your plan? This is really a new but promising project, Briefly tell us more about the project? What is the uniqueness of this project?
Amplify is a decentralized supply chain financial B2B2C infrastructure that runs on Ethereum. You plan to combine the benefits of networked protocols (governance, liquidity, traceability) with off-chain stakeholders (law and accounting firms, financial institutions …). But what about the huge commissions? How does your team want to achieve this and what steps are being taken towards achieving this goal?
We often hear that some cryptocurrency platforms experience data theft and abuse by hackers, talking about the security quality of the ampt.tech platform. How secure is ampt.tech to solve this problem?
On your site, I drew attention to the location of your partners on the geographic map of the world. Flovtec Switzerland, Wizkey Italy, Emirex Estonia, Holdex Hong Kong, Xlog Singapore and X10-Academy Moscow. They are all centered on one continent. Do you plan to conquer other continents? Are these your only partners? Have you already achieved an off-chain and on-chain partnership with them and what are the goals of partnering with each of these companies?
Your project is a financial B2B2C(business to business to consumer) infrastructure. How was your project designed to facilitate this while putting decentralization into consideration? Is your project fully decentralized, Who’ll be handed to the decision making? In what way would this project be different from centralized models and how will it help the users?
I understand that the total supply of $ AMPT tokens is 100 million, can you then explain the distribution of this amount? Of all this supply, when will they release for the community how much will be blocked for the team?
Amplify helps individuals and SMEs gain liquidity and makes supply chain financing more inclusive and democratic. What is the technology used by amplify? What is the funding based on? Can different categories of users transact via financial encryption?
As we all know, changes in the blockchain industry will not happen overnight. Amplify believes that proper analysis of specific businesses with legal procedures can help companies get used to and recognize the governance model blockchain more quickly. Will AMPLIFY gradually complete the migration chain of the entire supply chain financial system? How do you prepare for the financial market? Will they introduce providers into the financial blockchain market?
I understand that to join Amplify there are a number of steps I must follow; Once Step 1 is completed, startups, whether they be credit-granting institutions, core companies, or corporate supply chains, all need to chain their digital identities. Can you expand the sequence of steps to give faithful compliance to the process? Will transactions and settlements in AMPLIFY be unique? In what digital identity?
AMPLIFY maintains that current developments in DeFi highlight the benefits of on-chain financial transactions. What schemes apply to meet the challenge of background checks? How many schemes apply to guarantee the authenticity of background checks?
The traditional financial service model is limited by the centralization Commercial production ratio. Both the granting and compensation of credit and settlement are inefficient due to the backward multi-party system of cooperation and review system. In these systems, control of the volume of capital is particularly important. How does Amplify intend to improve clearing and settlement efficiency? In the case of fund liquidity and its risks, how will it be improved? In the case of central business credit, and how will the credit system be established?
WHAT DOES AMPLIFY PROPOSE TO SOLVE THE CONSTANT AND INEVITABLE PROBLEMS Of THE MARKET, WHAT STRATEGIES WILL IT IMPLEMENT FOR THIS?
HOW THEY DETAIL THE VISION OF THE FUTURE OF THE MARKET, DO THEY BELIEVE THAT IT WILL CONTINUE TO BE THE SAME OR BLOCKCHAIN TECHNOLOGY AND OTHER FACTORS WILL CONTRIBUTE SO THAT IT BECOMES SOMETHING COMPLETELY DIFFERENT IN THE NEAR FUTURE, IF SO, HOW DO THEY HOPE TO CONTRIBUTE TO ACHIEVE THIS MARKET CHANGE AND ACTUALLY BE PART OF IT?
I read that Amplify’s goal is to provide contract credit or asset mortgage credit to companies that normally are left out of the traditional credit granting system. Can you tell us more about this? How is the process this companies need to go through in Amplify to receive contract credit or asset mortgage credit? How will you know that these companies are qualify for that?
While reading your whitepaper I saw that In order to solve the supplier finance-related problems, you have created an innovative decentralized network architecture based on blockchain for B2B2C. Can you tell us more about this? How will this solution work and what makes it so innovative? What advantages does Amplify have thanks to this architecture if we compare it with other projects that are similar to Amplify?
I read on your whitepaper that later on the AMPLIFY Governance Association will begin to plan and build multiple related agreements from off-chain asset credit, enterprise on-chain, off-chain asset digitization, and on-chain supplier financial transactions. Can you tell us more about this? What is this Governance Association and how will it work? Will users be able to be part of it or they won’t be able to participate in governance issues? If so, how would be possible for them to be part of it?
WHAT ARE THE MAIN ADVANTAGES THAT AMPLIFY PROVIDES THAT MAKE IT ONE STEP AHEAD OF THE OTHER CRYPTO PROJECTS, HOW DO THEY ACHIEVE THESE FACTS?
I found out on the tweet there is a FAKE twitter account with similar name and logo. How do you spread the awareness of this fake account to community? Is this often happen to AMPLIFY?
I saw on your twitter account an event for Community Testing, how do you collect all this information and feedback from the testers? Is there any reward for participating in the develop of your platform?
Amplify aims to provide contract credit or asset mortgaged credit to companies that normally are left out of the traditional credit granting system, what limitations of the traditional financial model is Amplify solving and what are your core features to achieve it?
Can you tell us what problems of the market that AMPLIFY has solve and ease? What do you think upcoming obstacles that will come?
SME lending is one crucial aspect of traditional finance that needs to change and many small business owners struggle to acquire financing more often than not. So what makes decentralized finance different from traditional finance and explain how can DeFi do better than a traditional Financial Institutions?
Amplify enables quick and affordable lending while rewarding the entire community. So aside from this, may we know why you have decided to launch your project Amplify and what problems of the market you are going to solve? Also make us understand how decentralized SME lending will actually works in the real world & how can Amplify provide on-chain financing for any business owner around the world?
$AMPT is the native token of AMPLIFY and similar to other Defi platforms, it serves multiple functions. So can you tell us what are these functions and what makes it different from other tokens we’ve seen out there? Also where does it currently available to purchase?
I understand that you as a project help others to obtain liquidity, but how do you obtain your own liquidity and confidence to call more and more investors?
As a decentralized supply chain financial B2B2C infrastructure providing contract credit or asset mortgaged credit to companies that normally are left out of the traditional credit granting system. What is the edge of Amplify compare to the the traditional credit? How will Amplify gives opportunity to companies to get a credit in Amplify? What terms and conditions being applied to creditors and company? Thank you
The Amplify platform allows fast and affordable loans, what is the reward for the community that participates in these operations?
Amplify makes it easier for SMEs to obtain more liquidity with inclusive financing, what strategies will it use to attract more users in the short and medium term?
I read white paper;AMPLIFY token runs on Ethereum.Wow very interesting,Can you tell us more or less why you decided to launch an Ethereum token at a time when Ethereum was facing a huge cost problem? How do you plan on not being affected by this situation? Also, do you plan on owning other types of tokens?
I read in your vision and goals that “the loan program is based on merits a mortgage model can solve a lot of problems “can you explain what is meant by” mortgage model “does this model really solve the problem? If so? Where can we see it?
Thank you
You also want to notice that AMPLIFY provides decentralized money market loans, but can any project / investor really enjoy this loan? Or do they have to be a project with some unique tools or products?
Amplify team promise that if the project isn’t listed in 6 months, Amplify will buy back the tokens at a 20% higher price. How can you backup this promise to investors? Are you going to create a wallet with the corresponding amount for buy backs that will be lock up for 6 months? Where did the budget for buyback will come from?
Amplify says Connect Off-Chain and On-Chain to Support the Global Economy. But to support the global economy they would have to have a great community and great efficiency, so how will they do it? and they mention that they will provide a B2B2C network where users will be able to carry out transactions through encryption and decentralized financial products. So the B2B2C network will be of great help to the global economy? What will be the rates that will be handled within that network? Is it convenient for users?
Amplify mentions that it uses multiple technologies instead of one, which I find interesting. Could you tell me about the technologies that Amplifi handles? What do they have in common and how do they relate to each other? Do these decentralized technologies provide better control on the Amplify platform?
In their roadmap in the second quarter (2Q) of 2021 they plan to integrate an Increase in the depth of liquidity, but considering that Amplify is a relatively new project, how will they do it? And why did they decide to increase liquidity? Could Amplify Make a Big Difference in Helping Individuals and SMEs Get Cash?
What features does Amplify has to offer to core enterprisers, SMEs and credit granting institutions, in that order?
Why is decentralization and on chain governance protocol a solution for all the credit transmission problems of the conventional credit models?
I could see Amplify is mainly adding it’s solutions to Small Medium Sized Enterprisers, specially regarding process of production and trading, how do you reduce the operational risks and unnecessary losses of capital for them? Why focus on SMEs?
As a project who work in section supply chain financial, could you explain what contribution do Amplify already give in the cryptocurrency world, and also what problems from the market that you are going to solve?
Amplify is not about the technology but it is about the business case and a vision of financial inclusion for businesses. So you Amplify will not gonna develop some kind of new technology for your platform but will utilize what is already available and build a bussiness plan or create a bridge to make transactions of banks, cryptocurrency and bussiness effecient and more inclusive to SMEs?
You said that Amplify guarantee the price of $AMPT token will be great through your new burn and Buyback program. Can u please explain how does that program work? Do you have schedule about when you will doing burn or buyback for token?
AMPLIFY hopes to become a combination of the traditional financial market B2B platform and the blockchain financial B2C platform, and assume the role of bridging. To be effective at this role, a considerable part of AMPLIFY business model and deals has to be concentrated within the traditional financial ecosystem. How will AMPLIFY source for ready and reputable suppliers around the globe who aren’t afraid of opening up their businesses to a lucrative new market and technology, and how will the team carefully handle the introduction of off chain assets in the blockchain industry?
As read in your whitepaper, AMPLIFY is said to be well connected to traditional financial resources. What does this really mean? and amplify also talked about rich practical experience than other financial blockchain in the DeFi ecosystem, how many years of these practical experience does your team possess and can you tell us more about these experience relative to financial lending.
AMPLIFY uses a curved auction based on Ethereum Smart Contracts to produce the AMPT which is basically an auction algorithm that determines the price of the AMPT token during an auctioning round as against the number of tokens sold. How viable is this process, and how will it guarantee true liquidity and stability to the AMPT token?
Amplify already released an AMP LEND MVP. What services are available right now? And do you have any restricted countries? How is the MVP’s performance so far?
Your first B2B user was xlog, they had a nice rating about your project which is really good. In what way did Amplify improve their services? How many more users have joined? How have you been able to improve your project to suite and draw more users? Who are your major partners?
AMPLIFY is well connected to traditional financial resources by connecting large numbers of SMEs to loan and Credit. How did you work this out? To get a Credit, you need a collateral, what solution do you have for this? Will off-chain assest be used as a collateral or an on-chain or maybe a mixed? There is also the issue of verification, how would you verify users?
Hi Amplify
Bridging off-chain and on-chain finances is a great idea! Interested to learn how do you achieve this? What fiat currencies will you support and do you limit users from certain geographic locations from supplying fiat?
Hi Amplify
Since you bridge off-chain and on-chain finances I wonder if users will be able to deposit crypto and collect earnings in fiat form? If this is possible, high crypto yields should put boring old banks out of business 🙂
Hi Amplify
Vision of bridging off-chain and on-chain finances will only work if amplify becomes a global cross chain player. Do you have plans to expand to other networks other than ETH? I am sure much lower fees will bring more adopters onboard.
Amplify are said to help companies that are left out of the traditional credit granting system. Basically in traditional credit granting system, the credit analyst tries to access the credit worthiness of the applicants, when that is removed then which strategy does amplify use to access the credit worthiness of their applicants.
In a credit granting system, we have the issue when a company or user fails to repay their loan after a given amount of time, I will like to know the timeframe you give before you start taking legal procedure or how do you amicably solve such situations.
Transparency in supply chain finance refers to the disclosure of information to trading partners, shareholders, customers, consumers, and regulatory bodies. How do you plan to improve transparency as a decentralized supply chain finance company.
As a major decentralized supply chain financial infrastructure, how do you solve the major problem of verifying the business flow, logistics and capital flow (basically i can say this is one of the main problems of supply chain finance) when trying to approve a credit asset mortgage to a company or a users.
You mentioned one of your crypto technology benefit as lower cost but looking at the facts you run on the ethereum server which of recent have higher cost fees, what are you plans against these higher cost fees or do you plan to make some amendments to it later in the future.
In your token economy model, you planned to keep 30% of the tokens for risk reserve so as to ensure the safety of the users assets but furthermore you explained how the token will be destroyed at semi annual rate of 5% until all of them are destroyed finally, i did like to know the reason why these tokens are to be destroyed later if they are at first kept for users safety.
As a financial B2B2C lending platform, who sets the lending limit, interest rate, payback time, e.t.c. How will your project work to satisfy both parties – the lender paying on time and the lender getting loan with low interest rate. Is there a reward for both parties in a way that would encourage them? And for those that just want to hold and or farm the AMPT token, what is their reward?
“Liquidity mining achieves negative interest rate lending through token incentives and gets higher deposit rates”. From this statement, do you mean that Interest rate would be very low and deposit fees would be higher? Can you just tell us about the fee structure and what “negative interest rate” meant?
The transformation of the traditional finance into defi is not an easy job. As Amplify focusing on small and medium businesses for lending mostly, what kind of difficulties are you dealing right now on borrowing and lending processes for SMEs and business to business financial resources?
Please explain what the concept of “off-chain” means in relation to your platform. And how the interaction between “on-chain” and “off-chain” clients will be ensured. If you can give an example of an interaction operation not only in the field of lending, but also in trade. I know that you have far-reaching beyond lending
Most recently, in an article by Bloomberg, AMPLIFY advisor Nizam Ismail (founder of Singapore-based Ethikom Consultancy) spoke about the world’s regulators’ changing approach towards cryptocurrency. Can you elaborate on what kind of interview it was and what your advisor is concerned about?
When I read your whitepaper I see that, AMPLIFY credits to companies that normally are left out of the traditional credit granting system. Why AMPLIFY is only aiming for SMEs which are left out of banking system and maybe has low credit score?
Why are u chose ERC chain,Eth gas fee is very high now. there are low gas fee chains like BSC,Trc personally i like to BSC chain and so many new projects chose BSC chain,have u any special reason for chose ERC chain?i think investers dont like to deal with high gas fee and low speed
Amplify is a high tech project in a high demand field, you also said that you want attract new partner to expand your project, could you share who already join partner with Amplify for now? And which project do you aim to make into your partner?