We were delighted to welcome our guest from Defi11. The AMA took place on September 19th, 2021 and our guest was @guptaritam.<\/p>\n\n\n\n
The total reward pool was 500$ and\nwas divided into three parts. In this AMA Recap we will try to summarize some\nof the most interesting points for you.<\/p>\n\n\n\n
Gold\nRocket | Satoshi Club: <\/strong>Hello again, dear Satoshi Club community! We\nare pleased to announce AMA with Defi11. Today our guest is @guptaritam .<\/p>\n\n\n\n Jonah <\/strong>🏅🎹<\/strong>: <\/strong>@guptaritam welcome\nonce again to Satoshi club we are glad to have you here… 😊<\/p>\n\n\n\n Jonah <\/strong>🏅🎹<\/strong>: <\/strong>It’s about 4 months\nyou were last here.. 😁<\/p>\n\n\n\n Gold\nRocket | Satoshi Club: <\/strong>Hello and welcome to Satoshi Club, @guptaritam\nand @DeFi_11<\/p>\n\n\n\n Ritam\nGupta: <\/strong>Hey All, <\/p>\n\n\n\n Glad to be here \ud83d\ude42<\/p>\n\n\n\n Gold\nRocket | Satoshi Club: <\/strong>nice to e-meet you😁<\/p>\n\n\n\n Gold\nRocket | Satoshi Club: <\/strong>I see 2 more of your colleagues are being\nadded to us😁<\/p>\n\n\n\n Jonah <\/strong>🏅🎹<\/strong>: <\/strong>We are excited to\nhave you Here again 😁<\/p>\n\n\n\n Tushant\nSuneja: <\/strong>Hello guys. Glad to be here. Hope you all are doing great!<\/p>\n\n\n\n Jonah <\/strong>🏅🎹<\/strong>: <\/strong>We are doing fine..\nwelcome..<\/p>\n\n\n\n How are you doing today?<\/p>\n\n\n\n Gold\nRocket | Satoshi Club: <\/strong>@tushant77 @DeFi_11 nice to e-meet you 😊❤️<\/p>\n\n\n\n Gold\nRocket | Satoshi Club: <\/strong>Welcome to Satoshi Club ❤️<\/p>\n\n\n\n Tushant\nSuneja: <\/strong>I am doing great. Happy to be here!🔥<\/p>\n\n\n\n Gold\nRocket | Satoshi Club: <\/strong>@guptaritam @tushant77 @DeFi_11 Let’s start!\nIntroduce yourself please. How did you get to be involved in crypto &\nDefi11<\/p>\n\n\n\n Tell us please about your position in \nDefi11<\/p>\n\n\n\n Tushant\nSuneja: <\/strong>Sure!<\/p>\n\n\n\n Tushant\nSuneja: <\/strong>Hi everyone Tushant Suneja this side ,I am Operations Manager at @DeFi_11\n. I came from a software background then got myself into analytics . Then got a\noverall idea of the process while working with the big tech giants like\nCitibank and Newgen . Go knowledge of domain and all the operations . Then was offered a post as Operation\nManager at DeFi11<\/p>\n\n\n\n Jonah <\/strong>🏅🎹<\/strong>: <\/strong>Great Experience 👏<\/p>\n\n\n\n Gold\nRocket | Satoshi Club: <\/strong>Give us a brief introduction to the project.\nWhat is the essence of Defi11<\/p>\n\n\n\n Tushant\nSuneja: <\/strong>Problem with Centralized Fantasy Gaming Applications<\/p>\n\n\n\n Centralized Fantasy Sports Applications have always been in news for the\nproblems that they have been posing to theirs users and stakeholders. Some of\nthe problems with conventional centralized Fantasy Sports applications include:<\/p>\n\n\n\n Problem #1<\/p>\n\n\n\n Creation of Dummy or Fake Winners<\/p>\n\n\n\n Creation of dummy or fake winners during a contest and no possible way of\nauditing the winner’s actual existence.<\/p>\n\n\n\n Problem #2<\/p>\n\n\n\n Manipulation of Data & Reward Pool Amounts<\/p>\n\n\n\n The centralised approach followed by the conventional fantasy sports apps\nresults in easy manipulation of databases and unaccountability of reward pool\namounts.<\/p>\n\n\n\n Problem #3<\/p>\n\n\n\n No Auditing and Internal Controls<\/p>\n\n\n\n The lack of Auditabilty in the centralised sports industry makes it hard\nto track internal frauds or false reporting of daily volumes.<\/p>\n\n\n\n Problem #4<\/p>\n\n\n\n No User Privacy and Regulation<\/p>\n\n\n\n Users can never get to have their identity protected and secured in a\ncentralised system.<\/p>\n\n\n\n Tushant\nSuneja: <\/strong>DeFi11’s Solutions:<\/p>\n\n\n\n DeFi11 is the world’s first defi powered gaming ecosystem for Fantasy\nSports, NFT Virtual Hybrid World and sports Predictions. It runs as a chain\nagnostic decentralised mobile application with an in-built smart wallet. The\nadvantages include:<\/p>\n\n\n\n Our Solutions<\/p>\n\n\n\n -Complete Decentralization<\/p>\n\n\n\n -Maintain User Anonymity<\/p>\n\n\n\n -No market manipulation<\/p>\n\n\n\n – P2P transactions<\/p>\n\n\n\n Tushant\nSuneja: <\/strong>Apart from it DeFi11 isn’t just an Application it’s a complete Ecosystem\nwith Fantasy Sport being just a single feature in it.<\/p>\n\n\n\n Gold\nRocket | Satoshi Club: <\/strong>very detailed information👏<\/p>\n\n\n\n Gold\nRocket | Satoshi Club: <\/strong>How long does it take to develop a project?\nWhat plans do you have for the future? And what can we expect from Defi11<\/p>\n\n\n\n Gold\nRocket | Satoshi Club: <\/strong>And what has happened to you in the three\nmonths since our last meeting?<\/p>\n\n\n\n Tushant\nSuneja: <\/strong>The thought process took around 2 years of Planning and one year of\nimplementation . And now we are at a crucial step that will totally define the\nfuture . We are ready and prepared for it.<\/p>\n\n\n\n Tushant\nSuneja: <\/strong>Last time we were prepared to launch but then suddenly the market\ncrashed. Now we are 200% ready and coming back with even more preperations than\never . We will be looking out to take $D11 to next heights where it will be\ncompared as the next blockbuster of 2021.<\/p>\n\n\n\n Gold\nRocket | Satoshi Club: <\/strong>Flexibility in a volatile crypto space is a\ngreat quality for a project.<\/p>\n\n\n\n Gold\nRocket | Satoshi Club: <\/strong>Thanks for great introduction, we have several\nquestions which were selected for the 1st part. Ready to start?<\/p>\n\n\n\n Q1 from Telegram User @Jmagsss<\/em><\/strong><\/p>\n\n\n\n I have read in whitepaper that conceptually, the D11\ntokens were built to have similar structures of one of the biggest\ncryptocurrency, the Binance Coin or BNB. The token are used for settling fees\nand offers additional discounts to users. Given the fact that D11 token will\nmirror BNB features, will you also conduct and perform token destructions and\nburnings just like what Binance popularized and does every quarter to their\ntokens? What other features does your token inherits from BNB?<\/em><\/p>\n\n\n\n Tushant\nSuneja: <\/strong>DeFi11 has surprises planned for it’s community from time to time and\nwill always keep the choices of it’s community over everyone else.As we have\nCommunity reserve of 23% in our Tokenomics! <\/p>\n\n\n\n The company also puts 20% of its revenue in buying back the tokens and\nburning them and hence \u2018decreased supply and increased demand\u2019 which in turn\npumps up the token price.<\/p>\n\n\n\n So YOU NEVER LOSE HERE. With every game being played on the platform, the\nprice of the token is pumped up, completely sustainable and scalable.<\/p>\n\n\n\n Tushant\nSuneja: <\/strong>Also the $D11 token is built as a unique gaming utility token on top of\nD11 Protocol which you <\/p>\n\n\n\n can use to pay contest fees, buy assets, redeem game rewards, etc into\nD11 token for <\/p>\n\n\n\n fiat swap or redemption.<\/p>\n\n\n\n Tushant\nSuneja: <\/strong>That create more use case of the $D11 token in DeFi11 Ecosystem!<\/p>\n\n\n\n Tushant\nSuneja: <\/strong>Done!<\/p>\n\n\n\n Gold\nRocket | Satoshi Club: <\/strong>Thanks for your answers<\/p>\n\n\n\n Gold\nRocket | Satoshi Club: <\/strong>\u0421ould you tell us please about your tokenomics\nbtw<\/p>\n\n\n\n Tushant\nSuneja: <\/strong>Here is a detailed section about our tokenomics!<\/p>\n\n\n\n Gold\nRocket | Satoshi Club: <\/strong>Thanks for sharing 😊<\/p>\n\n\n\n Tushant\nSuneja: <\/strong>🤑 DeFi11 Tokenomics: an overview of $D11<\/p>\n\n\n\n As we are gearing up for the most anticipated DeFi11 IDO on Polystarter\nand Red Kite, we thought it would be the best time to catch up on all the\ndetails and explain the tokenomics behind $D11, the native token of DeFi11.<\/p>\n\n\n\n D11 Tokenomics<\/p>\n\n\n\n \u2022 Token Symbol: $D11<\/p>\n\n\n\n \u2022 Total Supply: 275,000,000<\/p>\n\n\n\n \u2022 $D11 Price (USD) Public Sale: $0.15<\/p>\n\n\n\n \u2022 Initial Market Cap on TGE: $62.5k<\/p>\n\n\n\n \u2022 IDO on Red Kite at 11 AM UTC and on Polystarter at 1 PM UTC on 20th\nSeptember.<\/p>\n\n\n\n \u2022 $D11 listing on AscendEX and QuickSwap: 20th September at 1 PM UTC.<\/p>\n\n\n\n Read more:\nhttps:\/\/medium.com\/defi11\/defi11-tokenomics-an-overview-of-d11-token-82626a47793d<\/p>\n\n\n\n Spread the word: https:\/\/twitter.com\/defi_11\/status\/1439538134451048448<\/p>\n\n\n\n DeFi11 is a DeFi powered decentralized gaming ecosystem built on top of\nMatic Blockchain with Ethereum as the base layer. The platform aims to\nestablish ethical standards in gaming by making the system transparent,\nauditable and incentivizing. In this way, we are trying to bring more\nindividuals to an already ripe gaming market, which has been stifled due to\nlack of innovation.<\/p>\n\n\n\n Re-imagine the Blockchain Gaming Experience 🤝<\/p>\n\n\n\n 👥 Our Social Media Links :<\/p>\n\n\n\n Website (https:\/\/www.defieleven.com\/) | TG Announcement (https:\/\/t.me\/defi11announcements)| LinkedIn\n(https:\/\/www.linkedin.com\/company\/defi11\/) | Instagram (https:\/\/www.instagram.com\/defieleven\/)\n| Twitter (https:\/\/twitter.com\/defi_11) | Medium (https:\/\/medium.com\/defi11)<\/p>\n\n\n\n Jonah <\/strong>🏅🎹<\/strong>: <\/strong>I see an allocation\nfor treasury what will that be for?<\/p>\n\n\n\n Tushant\nSuneja: <\/strong>Here’s a detailed article on it!<\/p>\n\n\n\n Tushant\nSuneja: <\/strong>That will be used for any future resources that DeFi11 needs for the\nbetterment of the company<\/p>\n\n\n\n Tushant\nSuneja: <\/strong>For example : It can be new offices , new IT equipment , bonus , team\nactivities etc<\/p>\n\n\n\n Gold\nRocket | Satoshi Club: <\/strong>Thanks for your answers! Ready to proceed to\nthe next question?😊<\/p>\n\n\n\n Tushant\nSuneja: <\/strong>Yes<\/p>\n\n\n\n Q2 From Telegram User @victorogb<\/em><\/strong><\/p>\n\n\n\n Defi11 will look to incorporate an NFT marketplace,\nVirtual World Alpha and Staking rewards programme in Q4 2021. As these products\nhelp to further improve the DeFi services of your project as offered, can you\nbriefly talk about these products, what would be some of the proprietary\nfeatures of your NFT marketplace, what sort of transactions and activities\nwould be permitted in the Marketplace, also what are the features of your\nVirtual World Alpha, and can you give us a hint on your staking rewards programme,\nwhat are the benefits available to investors?<\/em><\/p>\n\n\n\n Tushant\nSuneja: <\/strong>NFT marketplace is the next thing coming in soon. Its literally huge and\nnever seen before!<\/p>\n\n\n\n It is a complete hybrid world combining virtuality and reality!<\/p>\n\n\n\n First and foremost, we are completely decentralised, i.e, we hold no\naccess or control over users account. All their private keys and wallets are\nwith them.<\/p>\n\n\n\n And it is all just at the convenience of their hands and their mobile\nphones.<\/p>\n\n\n\n Everything is just controlled seamlessly via mobile phone.<\/p>\n\n\n\n As for the future and revenue we all know crypto is the future . We all\nlive in an adaptive world so we need to pick up the pace .<\/p>\n\n\n\n With DeFi11 mobile app you live in a world where all the options are\nright in front of you .<\/p>\n\n\n\n Gold\nRocket | Satoshi Club: <\/strong>absolutely agree with you!<\/p>\n\n\n\n Jonah <\/strong>🏅🎹<\/strong>: <\/strong>Right.. <\/p>\n\n\n\n What will be the unique features of your NFT marketplace?<\/p>\n\n\n\n Tushant\nSuneja: <\/strong>Will announce it soon. Don’t want it to steal the hype of our IDO🔥<\/p>\n\n\n\n Jonah <\/strong>🏅🎹<\/strong>: <\/strong>Alright.. 😊 don’t\nforget to share it with Us<\/p>\n\n\n\n Gold\nRocket | Satoshi Club: <\/strong>Understandably😁<\/p>\n\n\n\n Tushant\nSuneja: <\/strong>Sure. You will be the first one!<\/p>\n\n\n\n Gold\nRocket | Satoshi Club: <\/strong>Thanks for great answers<\/p>\n\n\n\n Gold\nRocket | Satoshi Club: <\/strong>Let’s proceed to the next question😁<\/p>\n\n\n\n Q3 from Telegram User @Highpee<\/em><\/strong><\/p>\n\n\n\n From your whitepaper, you have said that instead of\nburning, $D11 will have a staking function which users must have to undergo\nupon registration. How many tokens are users expected to stake upon\nregistration? Does it mean that staked tokens will be forever locked in order\nto keep them completely out of circulation? Why don\u2019t you want to manually or\nautomatically buy back some of your token and burn them? How effective is your\nstaking design as it has to do with maintaining token deflationary status and\nis it going provide a better deflation strategy than burning?<\/em><\/p>\n\n\n\n Tushant\nSuneja: <\/strong>Staking Program will be announced in October with much lucrative APRs.<\/p>\n\n\n\n The complete details will be mentioned in the community soon<\/p>\n\n\n\n Gold\nRocket | Satoshi Club: <\/strong>I feel October will be hot for you🔥<\/p>\n\n\n\n Tushant\nSuneja: <\/strong>As of now you can simply log in and start playing in DeFi11 mobile\napplication which will be live soon<\/p>\n\n\n\n Tushant\nSuneja: <\/strong>Yes . Post launch big announcements are on their way from DeFi11 . <\/p>\n\n\n\n Get ready!!<\/p>\n\n\n\n Jonah <\/strong>🏅🎹<\/strong>: <\/strong>We all can’t wait for\nthis 😊<\/p>\n\n\n\n Tushant\nSuneja: <\/strong>🔥🚀🔥🚀<\/p>\n\n\n\n Jonah <\/strong>🏅🎹<\/strong>: <\/strong>Lets proceed<\/p>\n\n\n\n Gold Rocket\n| Satoshi Club: <\/strong>Thanks for your clarification 😊<\/p>\n\n\n\n Q4 from Telegram User Yomcy01<\/em><\/strong><\/p>\n\n\n\n DeFi11 is a defi powered gaming ecosystem for\nfantasy sports, NFT virtual world, Marketplace and P2P predictions. The entire\nplatform runs as a chain agnostic solution with a decentralised mobile\napplication with an in-built smart wallet. Our main motto with Defi 11 is to\nmake gaming platform safe from Frauds and Lack of Transparency in Centralized\nFantasy Sports Applications. How do you plan on accomplishing these as it seems\nto be the major problem facing blockchain technology gaming project?<\/em><\/p>\n\n\n\n Tushant\nSuneja: <\/strong>I shared it in the Beginning only with the problems and solutions<\/p>\n\n\n\n Tushant\nSuneja: <\/strong>Here you can refer to this!<\/p>\n\n\n\n Gold\nRocket | Satoshi Club: <\/strong>thank you very much for the answer. do you\nwant to add something or can you jump to the next question?<\/p>\n\n\n\n Tushant\nSuneja: <\/strong>I think we can move to the next question . Everything already there!<\/p>\n\n\n\n Q5 from Telegram User @Cheriemike<\/em><\/strong><\/p>\n\n\n\n DeFi11 launches Olympics 2021 NFT collection on\nVulcan Forged Marketplace,limited to ten Olympians.Auction started on 13th of\nSeptember 2021 and it ended on the 18th of September.Since we all missed it,Can\nyou tell why you did auction of the Olympian NFT?How did it go,can you share\nyour experience with us?You also made mention of your whitelisting lottery\ntickets for your upcoming IDO to be launch on Polystarter.Can you tell us the\nday of your IDOW and what is the cost of each ticket?What are the procedures to\nparticipate in it,can you please share were interested users can get\nwhitelisted? THANK<\/em><\/p>\n\n\n\n Tushant\nSuneja: <\/strong>It was a part of the exclusive Partnership between Vulcan and DeFi11 .\nAnd whitelisting tickets was being put at stake for NFT holders. The programme\nwent really well.Users were hyped and interested about it. There were many\nbuilds on the 10 unique NFTs. Both the communities had a competitive hype and\nthat made us feel even more engaging than ever. <\/p>\n\n\n\n It was a part of creating a hype for IDO contest. More such contest will\nalso be a available for users at time to time!<\/p>\n\n\n\n Tushant\nSuneja: <\/strong>Each ticket cost of whitelisting was 400$<\/p>\n\n\n\n Gold\nRocket | Satoshi Club: <\/strong>Great results 👍<\/p>\n\n\n\n Jonah <\/strong>🏅🎹<\/strong>: <\/strong>Great Job I must\nsay.. can you share us details of your IDO<\/p>\n\n\n\n Tushant\nSuneja: <\/strong>Yes!<\/p>\n\n\n\n Gold\nRocket | Satoshi Club: <\/strong>Thanks for your answer. Ready for the last\nquestion of this part?<\/p>\n\n\n\n Tushant\nSuneja: <\/strong>🥳 A HUGE milestone as we inch closer to the $D11 IDO\non Polystarter & RedKite<\/p>\n\n\n\n 1 Day To Go for the IDO to start!! <\/p>\n\n\n\n We are overwhelmed by the community support as we transition into the\nnext phase of our journey.<\/p>\n\n\n\n 📌 Important:<\/p>\n\n\n\n 🔸$D11 IDO on RedKite commences at 11 AM UTC on 20th\nSeptember.<\/p>\n\n\n\n 🔸$D11 IDO on Polystarter commences at 1 PM UTC on\n20th September. <\/p>\n\n\n\n 🔸 $D11 Smart Contract address:<\/p>\n\n\n\n ✅ Ethereum :<\/p>\n\n\n\n