We are pleased to announce our next AMA on October 24th 2021 at 11:00 AM UTC Time: Satoshi Club x NiftyPays
⚠️Click to see the hour
⚠️Total Reward pool: $500
⚠️Requirements:
👉 Join Satoshi Club Telegram group
👉 Join NiftyPays Telegram group
We will have the following structure:
Part 1: 100$ /6 users – We’ll select 6 questions from the community. A user can post maximum 3 questions.
Part 2: 100$/10 users – Open chat for 120 seconds. You can post Max 3 questions. NiftyPays Team will select 10 questions and answer them.
Part 3: 300$ – A quiz about NiftyPays
For more details:
NiftyPays Website – niftypays.com
NiftyPays Telegram – @NiftyPays_com
Satoshi Club – @satoshi_club
Russian – @satoshi_club_ru
Spanish – @satoshi_club_spanish
A few days ago you announced in your Telegram group that the IDO of the NIFTY token will take place on November 18, 2021. How much is the allocation of tokens for the IDO? Do you already know on which platform it will happen? How much is the minimum amount that a user can buy? Is there a maximum limit of tokens that we can buy in this IDO? Do we have to do KYC to participate?
I read on your telegram page that with NiftyPays, Users will be able to receive loans against their NFTs. If I get this right, you mean users who stake their NFT as collaterals on your platform will receive loans equivalent to the NFT staked? How is this loan structured and how is it calculated for the amount of NFT staked? Is there a limit to the amount of NFTs required as collateral in order to receive the loan? On top of that, Users who stake their NFTs on the platform will receive airdrops from partners on the platform. Who are your partners and what are the measures you’ve taken to ensure that these partners remain for long term?
Hello NiftyPays team. I had read that the launch of the token would happen on October 27, however, days later you announced that the launch was postponed to November 18, this caused some confusion in the community. For what reasons did you decide to change the launch date of the NIFTY token? Can you share with us more details about this? Thank you!
In your whitepaper, one of the unique features of the $NIFTY token is that it does not represent or confer on the token holder any right of any form with respect to the Company, the Distributor (or any of their respective affiliates), or its revenues or assets, including without limitation any right to receive future dividends, revenue, shares, ownership right or stake, share or security, any voting, distribution, redemption, liquidation, proprietary (including all forms of intellectual property or licence rights), right to receive accounts, financial statements or other financial data, the right to requisition or participate in shareholder meetings, the right to nominate a director, or other financial or legal rights or equivalent rights, or intellectual property rights or any other form of participation in or relating to the NiftyPays platform, the Company, the Distributor and/or their service providers. Does this entails that $NIFTY holders cannot participate in the governance system of NiftyPays? What are the usecases of the $NIFTY token?
Can you tell me exactly what NiftyPays platform wants to do with NFTs and who is the target audience in the market? Is NiftyPays an NFT marketplace or an NFT creation platform that will allow artists or NFT creators to create NFTs? Security to prevent the NFTs you will host in your project from being copied or stolen what is your level?
For me, the real-world benefits of projects before their promises are important. What conveniences does the NiftyPays platform provide to users in the current NFT market and DeFi market? Does it provide a helpful bridge or gain between NFT and DeFi that can be useful to people in the real world? Why should people choose the NiftyPays project, what are your competitive advantages that will make your project different from your competitors?
There were terms that caught my attention in the NiftyPays project and these are “NiftyPawn Shop, Spot Loans, Reinsurance pool. Price discovery protocols and Collateral settlement. Can you give us detailed information about these programs in simple sentences? What kind of convenience or profit do you aim to provide NiftyPays users with these programs?
NFTs and NFT projects have achieved tremendous booms in the market. However, NFT artifacts cannot be sold at value, they are sold at low prices. And it is written that it is used in illegal (money laundering, tax evasion, etc.) transactions. What is the prediction of NFYPAYS in preventing the devaluation of NFT artifacts? and what are the measures of not being an intermediary in new areas of use (illegal use)?
The NIFTYPAYs ecosystem revolves around $ NIFTY, a utility token that introduces an incentive mechanism to allow NFT holders to conduct peer-to-peer transactions for various useful functions. What is the usefulness of the $ NIFTY token? What are the incentive mechanisms offered by $ NIFTY for NFT holders? What are those useful functions? Benefits?
The NiftyPays loan solution follows a sophisticated NFT price discovery model, which is dependent on the history and predictability of the collateral price. NFTs that can be assigned a security are traded as standard digital assets, while those without valuation follow a P2P model. How does NiftPays’ innovative lending model work? What are the advantages of this loan model? What are its benefits? Requirements to access loans from NiftPays?
NiftyPays users will be able to receive loans against their wagered NFTs as collateral. Depending on the history and predictability of the collateral price, there will be two loan options available: P2P loans, Loans through a pool. You can explain the two available loan options P2P loans, Loans through a pool? How are these two options different? Benefits of each one? requirements to access these two loan options P2P loans, Loans through a pool?
NFT’s price discovery methods are in their infancy. There are several protocols that attempt to solve this, however they have major shortcomings such as user-based grouping and link curve pricing. That is why NiftyPays adopts a different and more sophisticated pricing model. How does the innovative NiftyPays pricing model work? What are the advantages of this pricing model?
I think nowadays the NFT market is not as strong as it used to be so it is slowing down and my guess is that it is slowing down because of the low priced NFT sales. Does NiftyPays have a plan to stop these low priced NFT sales and sell the idle or pending NFTs to show their true value and sell them for higher fees? Does NiftyPays have any plans to expand NFTs to more different domains, specifically associating them with dormant real-world assets?
Today, the main factor in the growth of projects is communities. How important are communities to the NiftyPays platform? Is NiftyPays local or global, do you have communities created in different regions? Do you have any plans to integrate non-English speaking users into NiftyPays?
NiftyPays is planning to create the NIFTY reinsurance pool that can be used to compensate lenders in case an NFT collateral cannot be sold to fully repay a loan. However the participation in this pool is voluntary. What measures have you foreseen to attract users interest to deposit in reisurance pool? How the compensation will take place in case the pool is not enough or the demand is high? Thank you!
Will I be able to offer my idle or active NFTs as collateral for credit use on the NiftyPays platform? How do you provide the collateral pricing on your platform, for example, how will you determine the value of an NFT? What does NiftyPays accept as collateral, what will NiftyPays do if the value of a collateral increases or decreases,will you follow?
One of the platform actors are listing partners. These are third party content creators (i.e. listing partners) who may list their NFT projects on the NiftyPays platform to gain exposure, and gain access to $NIFTY liquidity by distributing their native project tokens. Please advise if their participation is free or there’s a fee for listing their NFTs or a tax to pay once the NFT is sold? What advantages are expected for them for participation and interaction?
I read that NiftyPays is a staking ecosystem that will allow NFT hodlers to use their NFTs as collateral or stake their idle NFTs for a desired amount of time and earn rewards from different ecosystem projects listed on the platform. Which algorithm does NiftyPays use to calculate the amount of rewards that each user can earn within the platform? How can we increase the rewards we receive?
Hello NiftyPays
I noticed you allocated $250 USD worth $NIFTY token to your LP community.Can you tell us your reason for that?And during your Allocation Mining Events you place restrictions on some users from countries like,United States of America,Canada etc.Your IDO is around the corner,is this restrictions still valid to users from the said countries that where excluded from your AME?Can you share with us your experience during the events?And why accessing your website I couldn’t find your Tokenomics, can you please tell us the supply of $NIFTY tokens,at what price can users get it and how it’s allocated/distributed within your platform? Thanks
The NFT market has been highly overpriced and most investors want to enter the market but the ticket size of popular NFTs is too high.And it is stated that NiftyPays Fractionalization of NFTs are possible for investors to own a part of an NFT. But my questions are,what rights will an F-NFT investor gets, and with benefits?What minimal fee is being charged for a Fractionalized NFT on your platform?The possible problems of owning a Fractionalized NFT include issue with intellectual property,legal and regulatory guidelines.So how will NiftyPays deal with this issue?Thanks
Some investors are a bit hesitant to enter the NFT niche due to liquidity issues.So how do NiftyPays plan to provide instant and seamless liquidity?Will you create an ecosystem consisting of a vast NFT marketplace where sufficient liquidity is available at all times to enable better price discovery, all in an environmentally-friendly fashion? Thanks
Since the ecosystem plays around the $NIFTY which it to accumulate utility tokens for transactions purpose from end to end users,how then will the staking help partners to be exposed through the blockchain ?and why are non digital asset not interchangeable? And What gain will the NFT holder have regarding NIFTY system?
Is it possible to import assets acquired on other platforms to NiftyPays, or will only assets acquired within a specific Nifties marketplace be compatible?
My question is, if the value of an NFT asset is highly variable, what determines its price within NiftyPays, when making loans, stake or provide liquidity with it?
I understand that the NIFTY token will work natively on the polygon network, so when can we access it and on which exchanges can we acquire NIFTY?
Do you have integration or bridge plans between more popular networks such as BSC, ADA or ETH, seeing that in principle they will only be supported by polygon?
Currently your Medium is suspended, where can we get more information about your project, in addition to your twitter?
NiftyPays allocated $ 250 USD worth $ NIFTY How many $ NIFTY tokens are allocated for IDO and How many NIFTY tokens must we have to be able to be within the platform? How much is the minimum that a user can buy of tokens and how much should we have in play to be able to participate for benefits and rewards? Will the rewards we receive increase as our interactions increase?
NiftyPays is a betting ecosystem that will allow NFT hodlers to use their NFTs as collateral or to bet their inactive NFTs for a desired period of time and earn rewards from different ecosystem projects listed on the platform. What would be the requirements for users to can they store their assets? How could you make them more competitive in the community? What would be some of the tips or advice you need to know when entering this platform or provide tools for easy access for new users? Will your benefits be long or short term?
From your document, I discovered that NiftyPays governance model was proposed to undergo a three phased transition as project development quickens. These were; early days, semi decentralisation and full decentralisation. For the purpose of better user understanding, what is the current governance phase of the project? Is NiftyPays still under complete control of the Dev team? Finally, during the periods of complete project decentralisation, how would your governance structure be modeled, what sort of privileges and entitlement will members enjoy, and what basic requirement would confer governance rights on NiftyPays community members?
I read on your website that in Nifty pay, people can use their NFTs as collaterals without giving up their ownership of them, that sounds very convenient for any owner, what are the conditions for this feature? How is the price of the NFT determined under these terms?
While staking any NFT in NiftyPays, users get to receive airdrops of several NFTs from the farming program, how does the platform prevent this system to lead a decrease in the price of the airdropped assets due to excess of offering?
On your INITIAL NIFTY OFFERINGS, you did said for potential new projects you people offers to launch holders NFT offering via your platform. And each consecutive sale incentivize the entire buyer chain. My question now is, this each consecutive sale that incentivize the entire buyer chain, does this incentive acrue upon holder selling of his NIFTYpays token or upon every other individual holder sell on Niftypay?
As stated from your document, in the event that a borrower fails to repay loans made on collateralized NFTs, such agreement would undergo a process known as “collateral liquidation”. Can you thoroughly elaborate on this process, how does NiftyPays initiate such measure, and what are the step by step processes to liquidating such NFT collateral? There is also an option of direct compensation to lenders from the NIFTY reinsurance pool during the collaterization phase. Can you let us know when such measure can be employed, and what are the underlining functions of your reinsurance pool?
I noticed that your three features, NFT staking farm, Fractional ownership and NIFTY Finance offer rewards for staked NFTs. Can we receive rewards from all these options by staking same NFTs? In other words, when our NFTs are staked, do we have three reward sources? If not, what will be the best option among these three features in terms of financial benefits and the security? What are the points we have to consider when choosing an option? In addition to traditional staking, do you offer any other passive income opportunities for NFT holders on Niftypays?
When researching for this AMA, I saw that you charge several fees including 0.5% for unstaking, 0.5% for fractionalization and 5% for liquidation of collateral. Although these fees are common for almost every platforms, you are charging a fee for weekly promotions/lotteries too. Why did you impose a fee to collect funds for these features instead of allocating seperate portions from the total supply? Moreover, you have not indicated the percentage of the fee for weekly promotions/lotteries and when it will be deducted. How do you calculate this fee? Although a user does not wish to participate in promotions and lotteries, should he pay the fee?
I am interested to know more details on your feature of NFT Renting. You have indicated that the rent will be paid in $NIFTY based on an agreement between two parties. What will heppen if the borrower breaches the agreement? Do you intervene to the process and help to get the rented NFTs back? What will happen to $NIFTY payments? Are you liable to pay them on behalf of the borrower if he stops paying? Please explain the legal background of this feature of NFT Renting.
I observed that Niftypays is an innovative and revolutionary concept, deeply and strategically brainstormed to benefit the exponentially increasing holders of Nifties (Non-Fungible Tokens). It will further fuel the wave of buying and holding NFTs, making them lucrative to investors looking for short-term gains apart from the increased value of NFTs over time and the pride of owning them.
What’s the essence of this niffypays ?
What are the reasons we should be involved in this Niftypays?
And what ever that has advantages also has adismerit….. please can you tell us the dismerit and effect of Niftypays? And how are we sure to benefit from it?
I have a question about the NFT collateral?
1 sometimes a very expensive NFT may not sell for a long time and it is easier to pawn it, knowing that the price may drop soon.
So, I collateralize you a well-known NFT at the peak of its popularity, at what price do you get it?
1 Question
At what price do you get it? OpenSea market price or at yours own price?
2 Question
if the price goes down and i will not return loan, do yoг рфму Lender protection from this situation?
Talking about NFT’s,how do we stake our idle nifty? From my observation ,Users will be able to receive loans against their NFTs from our automated lending pool depending on the history and price predictability of their collateral. What if the user that money is been loaned to wasn’t able to meet,what’s the criteria ?
It caught my attention that users can receive loans against their NFTs from your automated lending pool. How do you calculate the value that should be kept as a collateral? Please explain whether you offer under-collateralized loans or over-collateralized loans. Further, if a borrower is unable to repay the amount, what is your policy regarding his collateral? Can he add more NFTs and extend the repayment period? You have mentioned that this facility depends on the history and price predictability of the collateral. Since a first time borrower does not have any records, how can he increase the possibility of getting the loan accepted?
When I try to access your private sale, it asks my name, email address and nationality. Generally, a private sale is limited to initial investors and close contacts. Is your private sale open to everyone? After providing aforesaid details and submit the form, what is the procedure of shortlisting applicants? Further, I noticed that you have asked about the nationality. Are some local communities prohibited from participating in the sale? If yes, please explain what are those communities and what is the reason for the ban.
I noticed that there are three categories of users on NiFtyPays, NFT holders, DeFi lenders and Listing partners. Could you please explain what will be the most suitable category for an investor? Further, please deeply explain about these three types and their differences. At the same time, can a single user be a NFT holder, DeFi lender and a Listing partner? If yes, does he receive his $NIFTY incentives separately or do you calculate them together?
For your lending service, users will be able to obtain loans while using NFTs as collateral. And these NFTs are NFTs with history and NFTs without history. The NFTs without history makes use of a P2P model, where NFT holders and lenders would agree on a valuation of the NFT and the platform will allow certain LTV for the deal. Now that you are allowing NFTs holders and lenders to determine NFT value and subsequently LTV, what plans do you have in situations where NFT holders and lenders couldn’t come to agreement on valuation. Will the transaction breakdown or NiftyPays will step in?
I also want to know the exact role of $NIFTY in LTV?
Your platform will charge fees for activities such as unstaking, interest on all loans, liquidation of collateral, fractionalization. How will these fees be distributed?
McLaren Racing team, Rima Kallingal the malayalam actor & The NFT artist Eric Haze have been associated with NiftyPays platform in order to launch their unique art works through the NiftyPays platform. Can you give a detailed information about these guys & their NFT programs which will be sold through NiftyPays? How much will be the cost of “The Insurgent Bloom” NFT which was done by Rima Kallingal? Because I love malayalam cinema. In What way will you gain a efficient revenue system in to the NiftyPays ecosystem by these artists with various fields?
According to your whitepaper, I noticed that NiftyPays have integrated a fractionalized NFTs within their ecosystem & NFT marketplace. Firstly, I need to know How are you going to evaluate a fraction of a NFT? In which manner will the ownership regulations be implemented for a fractionalized NFT? How will this feature be impacted not only on Artists but also on buyers? Can we use fractionalized NFTs for the lending & borrowing purposes within NiftyPays ecosystem?
One of NiftyPays features is NFT staking Farm. As I understood that we can stake our NFTs & On return we can claim our rewards in the form of $NIFTY. Can you explain the core mechanism of NFT staking farm? Will you allow to stake NFTs as much as we want, I mean is there a maximum limit to stake? And also tell us how about the Reward system works in NFT Staking farm?
Hi, From your website I came to know that the users are abled to stake their idle NFT’s for a specific time and earn rewards from different projects ecosystem on the platform. So, will the stakeholders or stakers receive $NIFTY tokens and other tokens as staking reward? If so, could you please list out the other tokens which the stakeholders can benefit from your staking? And, you have also mentioned that, the one who spends more time in your ecosystem will receive more rewards which is MORE TIME, BETTER REWARD. So, what type of activities do you expect from your users to get better reward? Will this more time, better reward mechanism calculated by their shilling activities or the more they are active in the community or how? Lastly, will the stakeholders also receive any kind of NFT’s for staking their idle NFT’s in your ecosystem?!
Thank you.
In your Q2, 2022 you have declared the launch of $NIFTY pawnshop and DEFI INTEGRATION. So, could you please elaborate us about the pawnshop? Will it be a virtual shop or traditional shop? And, before the DEFI INTEGRATION willyou be just as a NFT collection project? After your DEFI INTEGRATION will there be again a marketing campaign to show up the world, that your project has implemented defi features? Lastly, what are your preferences after the launch of $NIFTY pawnshop?
Thank you.
Hi Niftypays you make mention that the ecosystem has an intelligent gamification algorithm that calculates rewards based on the time spent by the user in the ecosystem, in other words it means more time spend better rewards.
What is the maximum or minimum time one can spend, and what reward is issued on that time frame..
Q2 I saw where it is stated that Niftypays is only lucrative for investors that is looking for only short term gains, why is it limited to only such investors.does it mean investors with long term gains or goals ain’t reliable to Niftypays
Q3 I want to know in what ways has Niftypays tripled in 2020
It is stated in your website that with Nifty yield farming,you rewards the hodler with $NIFTY Tokens and reward token must be claimed before it run out. As mentioned that reward token must be claimed before it run out,so does claiming of rewards is First come ,First serve basis? In this regard,does the rewards for token holders in your yield farming is only limited and not all holders are being allocated? Could you explain the conditions and mechanism of claiming of rewards for yield farming holder in your platform? How does rewards can be claimed or will be distributed to holders? Thank you
Did you conduct an audit for NiftyPays smart contract before your launch? Because I couldn’t discover your audit report. Please if you have done with an audit, Share with us to clarify the security doubts on NiftyPays project. If you have not conducted an audit yet, When will you do a audit on NiftyPays smart contract? How many audits do you intend to make throughout your roadmap & tell us the names of audit institutions that you will deal with in future?
You stated that NiftyPays project will imitate a governance system like Compound project at stage 3. Please calrify about the government model? I really don’t know about Compound governance system. So can you introduce it for us, Do compound project have a unique governance model? How will the NiftyPays users take decisions & propose new suggestions through your governance model?
In this Quarter, NiftyPays will schedule to launch their main fundraise events whic are the private sale & public sale. Can you tell me what percentages will you allocate for private sale & public sale? Tell more about your private sale event? How many early investors & partners of NiftyPays will be participated in Private sale?
I like to participate in your public sale event. How Will users be whitelisted, Are there any applications & forums to register for participating in Public sale event? How much is the maximum allocation for one user? What will be the initial prices of $NIFTY token in Private sale & public sale respectively? What will you do with these funds for the growth of NiftyPays ecosystem?
@Nifty Amm pool you said users can only receive loans depending on the history and price predictability of collateral, please can you shed more light on the this..thank you
In what ways is DEFI contributing or has contributed to the sustainable growth of Niftypays
How can NIFTY pay users be able to take collateral from NFT? what is the functions of the K-means clustering in getting signals? What is the value of the of the nfts when it is sold out in the general market? And what are the liquidation interest rate when it is given to the borrower? And how much does the individual has to pay in return of the tokens given?.
Can you please help me to know the difference between NFT and DeFi markets? Why should the NIFTY pay platforms be even consider as to getting tokens and how durable is it so as to be referred to friends and other traders in view?
I noticed that Nifty has so many media partners and as I count it,you almost have 30 media partners as of the moment including Bloomberg,Bitcoin Insider ,Yahoo Finance and many more. So far for having many media partners,what great impacts did it brings to your platform? What are the advantages that those media partners contribute into Nifty network? Does those media partners helps you to attract more investors and users to try and explore Nifty? Generally,how do you negotiate some media platforms to be your partner? Do you have contract and any deals with them? Thank you
Will NIFTYPAYS occasionally drop their own NFT’s? Or are you strictly providing a service to be used with outside NFT’s? What is the max total supply of the NIFTYPAYS token? Will the NIFTYPAYS token be a multi chain token? If yes, which chains? Thanks!