We were delighted to welcome our guest from Defi11. The AMA took place on September 19th, 2021 and our guest was @guptaritam.
The total reward pool was 500$ and was divided into three parts. In this AMA Recap we will try to summarize some of the most interesting points for you.
Part 1 — introduction and questions from the Telegram&Bitcointalk community
Gold Rocket | Satoshi Club: Hello again, dear Satoshi Club community! We are pleased to announce AMA with Defi11. Today our guest is @guptaritam .
Jonah 🏅🎹: @guptaritam welcome once again to Satoshi club we are glad to have you here… 😊
Jonah 🏅🎹: It’s about 4 months you were last here.. 😁
Gold Rocket | Satoshi Club: Hello and welcome to Satoshi Club, @guptaritam and @DeFi_11
Ritam Gupta: Hey All,
Glad to be here 🙂
Gold Rocket | Satoshi Club: nice to e-meet you😁
Gold Rocket | Satoshi Club: I see 2 more of your colleagues are being added to us😁
Jonah 🏅🎹: We are excited to have you Here again 😁
Tushant Suneja: Hello guys. Glad to be here. Hope you all are doing great!
Jonah 🏅🎹: We are doing fine.. welcome..
How are you doing today?
Gold Rocket | Satoshi Club: @tushant77 @DeFi_11 nice to e-meet you 😊❤️
Gold Rocket | Satoshi Club: Welcome to Satoshi Club ❤️
Tushant Suneja: I am doing great. Happy to be here!🔥
Gold Rocket | Satoshi Club: @guptaritam @tushant77 @DeFi_11 Let’s start! Introduce yourself please. How did you get to be involved in crypto & Defi11
Tell us please about your position in Defi11
Tushant Suneja: Sure!
Tushant Suneja: Hi everyone Tushant Suneja this side ,I am Operations Manager at @DeFi_11 . I came from a software background then got myself into analytics . Then got a overall idea of the process while working with the big tech giants like Citibank and Newgen . Go knowledge of domain and all the operations . Then was offered a post as Operation Manager at DeFi11
Jonah 🏅🎹: Great Experience 👏
Gold Rocket | Satoshi Club: Give us a brief introduction to the project. What is the essence of Defi11
Tushant Suneja: Problem with Centralized Fantasy Gaming Applications
Centralized Fantasy Sports Applications have always been in news for the problems that they have been posing to theirs users and stakeholders. Some of the problems with conventional centralized Fantasy Sports applications include:
Problem #1
Creation of Dummy or Fake Winners
Creation of dummy or fake winners during a contest and no possible way of auditing the winner’s actual existence.
Problem #2
Manipulation of Data & Reward Pool Amounts
The centralised approach followed by the conventional fantasy sports apps results in easy manipulation of databases and unaccountability of reward pool amounts.
Problem #3
No Auditing and Internal Controls
The lack of Auditabilty in the centralised sports industry makes it hard to track internal frauds or false reporting of daily volumes.
Problem #4
No User Privacy and Regulation
Users can never get to have their identity protected and secured in a centralised system.
Tushant Suneja: DeFi11’s Solutions:
DeFi11 is the world’s first defi powered gaming ecosystem for Fantasy Sports, NFT Virtual Hybrid World and sports Predictions. It runs as a chain agnostic decentralised mobile application with an in-built smart wallet. The advantages include:
Our Solutions
-Complete Decentralization
-Maintain User Anonymity
-No market manipulation
– P2P transactions
Tushant Suneja: Apart from it DeFi11 isn’t just an Application it’s a complete Ecosystem with Fantasy Sport being just a single feature in it.
Gold Rocket | Satoshi Club: very detailed information👏
Gold Rocket | Satoshi Club: How long does it take to develop a project? What plans do you have for the future? And what can we expect from Defi11
Gold Rocket | Satoshi Club: And what has happened to you in the three months since our last meeting?
Tushant Suneja: The thought process took around 2 years of Planning and one year of implementation . And now we are at a crucial step that will totally define the future . We are ready and prepared for it.
Tushant Suneja: Last time we were prepared to launch but then suddenly the market crashed. Now we are 200% ready and coming back with even more preperations than ever . We will be looking out to take $D11 to next heights where it will be compared as the next blockbuster of 2021.
Gold Rocket | Satoshi Club: Flexibility in a volatile crypto space is a great quality for a project.
Gold Rocket | Satoshi Club: Thanks for great introduction, we have several questions which were selected for the 1st part. Ready to start?
Q1 from Telegram User @Jmagsss
I have read in whitepaper that conceptually, the D11 tokens were built to have similar structures of one of the biggest cryptocurrency, the Binance Coin or BNB. The token are used for settling fees and offers additional discounts to users. Given the fact that D11 token will mirror BNB features, will you also conduct and perform token destructions and burnings just like what Binance popularized and does every quarter to their tokens? What other features does your token inherits from BNB?
Tushant Suneja: DeFi11 has surprises planned for it’s community from time to time and will always keep the choices of it’s community over everyone else.As we have Community reserve of 23% in our Tokenomics!
The company also puts 20% of its revenue in buying back the tokens and burning them and hence ‘decreased supply and increased demand’ which in turn pumps up the token price.
So YOU NEVER LOSE HERE. With every game being played on the platform, the price of the token is pumped up, completely sustainable and scalable.
Tushant Suneja: Also the $D11 token is built as a unique gaming utility token on top of D11 Protocol which you
can use to pay contest fees, buy assets, redeem game rewards, etc into D11 token for
fiat swap or redemption.
Tushant Suneja: That create more use case of the $D11 token in DeFi11 Ecosystem!
Tushant Suneja: Done!
Gold Rocket | Satoshi Club: Thanks for your answers
Gold Rocket | Satoshi Club: Сould you tell us please about your tokenomics btw
Tushant Suneja: Here is a detailed section about our tokenomics!
Gold Rocket | Satoshi Club: Thanks for sharing 😊
Tushant Suneja: 🤑 DeFi11 Tokenomics: an overview of $D11
As we are gearing up for the most anticipated DeFi11 IDO on Polystarter and Red Kite, we thought it would be the best time to catch up on all the details and explain the tokenomics behind $D11, the native token of DeFi11.
D11 Tokenomics
• Token Symbol: $D11
• Total Supply: 275,000,000
• $D11 Price (USD) Public Sale: $0.15
• Initial Market Cap on TGE: $62.5k
• IDO on Red Kite at 11 AM UTC and on Polystarter at 1 PM UTC on 20th September.
• $D11 listing on AscendEX and QuickSwap: 20th September at 1 PM UTC.
Read more: https://medium.com/defi11/defi11-tokenomics-an-overview-of-d11-token-82626a47793d
Spread the word: https://twitter.com/defi_11/status/1439538134451048448
DeFi11 is a DeFi powered decentralized gaming ecosystem built on top of Matic Blockchain with Ethereum as the base layer. The platform aims to establish ethical standards in gaming by making the system transparent, auditable and incentivizing. In this way, we are trying to bring more individuals to an already ripe gaming market, which has been stifled due to lack of innovation.
Re-imagine the Blockchain Gaming Experience 🤝
👥 Our Social Media Links :
Website (https://www.defieleven.com/) | TG Announcement (https://t.me/defi11announcements)| LinkedIn (https://www.linkedin.com/company/defi11/) | Instagram (https://www.instagram.com/defieleven/) | Twitter (https://twitter.com/defi_11) | Medium (https://medium.com/defi11)
Jonah 🏅🎹: I see an allocation for treasury what will that be for?
Tushant Suneja: Here’s a detailed article on it!
Tushant Suneja: That will be used for any future resources that DeFi11 needs for the betterment of the company
Tushant Suneja: For example : It can be new offices , new IT equipment , bonus , team activities etc
Gold Rocket | Satoshi Club: Thanks for your answers! Ready to proceed to the next question?😊
Tushant Suneja: Yes
Q2 From Telegram User @victorogb
Defi11 will look to incorporate an NFT marketplace, Virtual World Alpha and Staking rewards programme in Q4 2021. As these products help to further improve the DeFi services of your project as offered, can you briefly talk about these products, what would be some of the proprietary features of your NFT marketplace, what sort of transactions and activities would be permitted in the Marketplace, also what are the features of your Virtual World Alpha, and can you give us a hint on your staking rewards programme, what are the benefits available to investors?
Tushant Suneja: NFT marketplace is the next thing coming in soon. Its literally huge and never seen before!
It is a complete hybrid world combining virtuality and reality!
First and foremost, we are completely decentralised, i.e, we hold no access or control over users account. All their private keys and wallets are with them.
And it is all just at the convenience of their hands and their mobile phones.
Everything is just controlled seamlessly via mobile phone.
As for the future and revenue we all know crypto is the future . We all live in an adaptive world so we need to pick up the pace .
With DeFi11 mobile app you live in a world where all the options are right in front of you .
Gold Rocket | Satoshi Club: absolutely agree with you!
Jonah 🏅🎹: Right..
What will be the unique features of your NFT marketplace?
Tushant Suneja: Will announce it soon. Don’t want it to steal the hype of our IDO🔥
Jonah 🏅🎹: Alright.. 😊 don’t forget to share it with Us
Gold Rocket | Satoshi Club: Understandably😁
Tushant Suneja: Sure. You will be the first one!
Gold Rocket | Satoshi Club: Thanks for great answers
Gold Rocket | Satoshi Club: Let’s proceed to the next question😁
Q3 from Telegram User @Highpee
From your whitepaper, you have said that instead of burning, $D11 will have a staking function which users must have to undergo upon registration. How many tokens are users expected to stake upon registration? Does it mean that staked tokens will be forever locked in order to keep them completely out of circulation? Why don’t you want to manually or automatically buy back some of your token and burn them? How effective is your staking design as it has to do with maintaining token deflationary status and is it going provide a better deflation strategy than burning?
Tushant Suneja: Staking Program will be announced in October with much lucrative APRs.
The complete details will be mentioned in the community soon
Gold Rocket | Satoshi Club: I feel October will be hot for you🔥
Tushant Suneja: As of now you can simply log in and start playing in DeFi11 mobile application which will be live soon
Tushant Suneja: Yes . Post launch big announcements are on their way from DeFi11 .
Get ready!!
Jonah 🏅🎹: We all can’t wait for this 😊
Tushant Suneja: 🔥🚀🔥🚀
Jonah 🏅🎹: Lets proceed
Gold Rocket | Satoshi Club: Thanks for your clarification 😊
Q4 from Telegram User Yomcy01
DeFi11 is a defi powered gaming ecosystem for fantasy sports, NFT virtual world, Marketplace and P2P predictions. The entire platform runs as a chain agnostic solution with a decentralised mobile application with an in-built smart wallet. Our main motto with Defi 11 is to make gaming platform safe from Frauds and Lack of Transparency in Centralized Fantasy Sports Applications. How do you plan on accomplishing these as it seems to be the major problem facing blockchain technology gaming project?
Tushant Suneja: I shared it in the Beginning only with the problems and solutions
Tushant Suneja: Here you can refer to this!
Gold Rocket | Satoshi Club: thank you very much for the answer. do you want to add something or can you jump to the next question?
Tushant Suneja: I think we can move to the next question . Everything already there!
Q5 from Telegram User @Cheriemike
DeFi11 launches Olympics 2021 NFT collection on Vulcan Forged Marketplace,limited to ten Olympians.Auction started on 13th of September 2021 and it ended on the 18th of September.Since we all missed it,Can you tell why you did auction of the Olympian NFT?How did it go,can you share your experience with us?You also made mention of your whitelisting lottery tickets for your upcoming IDO to be launch on Polystarter.Can you tell us the day of your IDOW and what is the cost of each ticket?What are the procedures to participate in it,can you please share were interested users can get whitelisted? THANK
Tushant Suneja: It was a part of the exclusive Partnership between Vulcan and DeFi11 . And whitelisting tickets was being put at stake for NFT holders. The programme went really well.Users were hyped and interested about it. There were many builds on the 10 unique NFTs. Both the communities had a competitive hype and that made us feel even more engaging than ever.
It was a part of creating a hype for IDO contest. More such contest will also be a available for users at time to time!
Tushant Suneja: Each ticket cost of whitelisting was 400$
Gold Rocket | Satoshi Club: Great results 👍
Jonah 🏅🎹: Great Job I must say.. can you share us details of your IDO
Tushant Suneja: Yes!
Gold Rocket | Satoshi Club: Thanks for your answer. Ready for the last question of this part?
Tushant Suneja: 🥳 A HUGE milestone as we inch closer to the $D11 IDO on Polystarter & RedKite
1 Day To Go for the IDO to start!!
We are overwhelmed by the community support as we transition into the next phase of our journey.
📌 Important:
🔸$D11 IDO on RedKite commences at 11 AM UTC on 20th September.
🔸$D11 IDO on Polystarter commences at 1 PM UTC on 20th September.
🔸 $D11 Smart Contract address:
✅ Ethereum :
✅ Polygon :
Spread the word: https://twitter.com/defi_11/status/1439518235846529033
Re-imagine the Blockchain Gaming Experience 🤝
👥 Our Social Media Links :
Website (https://www.defieleven.com/) | TG Announcement (https://t.me/defi11announcements)| LinkedIn (https://www.linkedin.com/company/defi11/) | Instagram (https://www.instagram.com/defieleven/) | Twitter (https://twitter.com/defi_11) | Medium (https://medium.com/defi11)
Tushant Suneja: 🔊 BIG ANNOUNCEMENT
We are thrilled to announce that DeFi11(D11) is listing on AscendEX under the trading pair of D11/USDT . Details are as follows:
Deposit & Withdrawal: Sept. 17, 1:00 p.m. UTC
Trading: Sept. 20, 1:00 p.m. UTC
Read more: https://asdx.zendesk.com/hc/en-us/articles/4407117737363
Interested in learning where to start on AscendEX? We are here to help!
How to register:
📹 https://bit.ly/3fP5POo https://bit.ly/37Yu4p0
How to deposit:
📹 https://bit.ly/3AudJ7L https://bit.ly/3y9lrTu
How to cash trade:
📹 https://bit.ly/3D494eW https://bit.ly/2Wn0oQe
Get ready for $D11 IDO on September 20 on Polystarter and Red Kite!
Re-imagine the Blockchain Gaming Experience 🤝
👥 Our Social Media Links :
Website (https://www.defieleven.com/) | TG Announcement (https://t.me/defi11announcements)| LinkedIn (https://www.linkedin.com/company/defi11/) | Instagram (https://www.instagram.com/defieleven/) | Twitter (https://twitter.com/defi_11) | Medium (https://medium.com/defi11)
Tushant Suneja: 🎉 We are thrilled to announce that DeFi11 $D11 is listing on your favourite DEX, Quickswap
🗓️ Trading commences on 20th Sept. at 1 PM UTC.
Stay tuned for more details and get ready for the much awaited $D11 IDO on Polystarter & Red Kite by PolkaFoundry on 20th Sept.
RT: https://twitter.com/defi_11/status/1439180218166497284
DeFi11 is a DeFi powered decentralized gaming ecosystem built on top of Matic Blockchain with Ethereum as the base layer. The platform aims to establish ethical standards in gaming by making the system transparent, auditable and incentivizing. In this way, we are trying to bring more individuals to an already ripe gaming market which has been stifled due to lack of innovation.
Re-imagine the Blockchain Gaming Experience
👥 Our Social Media Links :
Website (https://www.defieleven.com/) | TG Announcement (https://t.me/defi11announcements)| LinkedIn (https://www.linkedin.com/company/defi11/) | Instagram (https://www.instagram.com/defieleven/) | Twitter (https://twitter.com/defi_11) | Medium (https://medium.com/defi11)
Jonah 🏅🎹: Thank you for sharing 😉
Tushant Suneja: The TGE is on 20th September ,2021. i.e 2 days from today.
It’s a DUAL IDO . We are having IDO on Polystarter , Polygon’s Native Launchpad and Redkite by PolkaFoundry .
Just 1 hour after the IDO we will be getting listed on Quickswap and AscendEX.
Timings for IDO would be 11:00AM UTC and
Timings for AscendEX and QuickSwap would be : 1:00 pm UTC
Tushant Suneja: Here you can refer to this in short
Gold Rocket | Satoshi Club: this is really the most detailed information. thanks a lot! pay attention, Satoshi Club🚀
Jonah 🏅🎹: lets proceed to the last question for this part
Q6 from Telegram User @Pavel_Jarosh
Talking about Defi11 roadmap, we see a Token Exchange listing planned for Q3 2021. If you mean IDO please provide more info if the process is already closed, customers whitelisted and funds withdrawn. Do you plan an additional IDO for those who missed this one or is still analysing the project?
Tushant Suneja:
As of now we don’t have any such plans. But there will be a community voting each quarter and we would let the community decide if there would be some major votes. Then we can surely look upto it!
Jonah 🏅🎹: Awesome. How will the community voting be done?
Tushant Suneja: In the community itself and also on DeFi11 social media handles.
Tushant Suneja: For a particular timeline!
Gold Rocket | Satoshi Club: Great!
Tushant Suneja: If there is a major demand we can also run it on our website!
Jonah 🏅🎹: That’s great
Part 2 — live questions from the Telegram community
Q1 from Telegram User @SHELBYWINAMA
Can beginners understand the DEFI11 gaming platform? If so how can beginners learn the DeFi11 platform? Does DeFi11 provide a special guide for beginners so that beginners can understand the DeFi 11 project?
Tushant Suneja:
🚀DeFi11 is the World’s First Decentralized Fantasy Gaming Ecosystem.🔥 Imagine it as an Fantasy Gaming Application where you don’t need to do any KYC from your account to add funds and play. You just come play & win . Without any details or questions asked Guides will be available on the App itself. Also if the users have any questions they can ask it directly in the community!
Q2 from Telegram User @isabella_blackk
You have stated that you attach great importance to security in your project, so why should people trust Defi11? What is your security level, do you have security partners, if any, who are they? Have you passed a third party AUDIT, do you have a report?
Tushant Suneja:
For security we have performed audits we the top in Blockchain Security auditing firms which includes Quillhash ,Certik and NonceAudits. Apart from that our R&D team constantly works around the product to discover any future vulnerabilities!
Q3 from Telegram User @cenkkargin0666
Why should people choose the Defi11 platform? What are the conveniences that Defi11 can offer us that are not found in other projects today? Can you talk about the Defi11 ecosystem, what can you offer us?
Tushant Suneja:
DeFi11 isn’t just a Fantasy Gaming Mobile Application . It’s a complete Ecosystem . That is governed by community and ruled by the community. As of now we don’t have any direct competition but yeah maybe in a feature or so we might have but not Directly.
As DeFi11 is made up of two words DeFi that is Decentralized Finance and 11 means 11 unique features under one umbrella.
Some of the unique DeFi11 Features are- Fantasy Gaming
– Staking
– Swapping
-Predictions
– NFT Gaming
Etc
Q4 from Telegram User @hansoyeon
Phone applications attract more attention from all walks of life. Are there both Android and iOS versions of DEFI11?
Tushant Suneja:
DeFi11 will be live soon probably after launch. Yes there will be both version available for the users . So they can enjoy the Decentralized Fantasy Gaming Experience!
Q5 from Telegram User
Tushant Suneja:
I would say these are in a order that needs to be sort … I wanna build community trust by empowering my platform development and then I wanna expand our partnership globally . DEFI11 has surprises planned for it’s community from time to time and will always keep the choices of it’s community over everyone else. Rest about the token pricing and all we will have to go in deep about the tokenomics. As for starters I would like to tell you that: The company puts 20% of its revenue in buying back the tokens and burning them and hence ‘decreased supply and increased demand’ which in turn pumps up the token price. So YOU NEVER LOSE HERE. With every game being played on the platform, the price of the token is pumped up, completely sustainable and scalable.
Q6 from Telegram User @satishgmr
You said that Defi11 Was born in between the Covid Lockdown, In that worst Time, How did Whole team met & decided to start this project?
Tushant Suneja:
As for DeFi11,It was last year when the pandemic hit the world and we were under lockdown. The two industries that got a good boost because of it were obviously DEFI (Decentralised Finance) and Gaming. That’s when DeFi11 was born. DeFi powered gaming ecosystem, including Fantasy sports, NFT virtual hybrid world, predictions, betting, etc. completely transforming the world of e-sports and bringing in decentralisation was what we dreamt of.
Q7 from Telegram User @BJosefina61
In which blockchains are you planning to launch your product? Do you believe in the multichain vision of the future?
Tushant Suneja:
We are not dependent on any particular blockchain platform, rather we can run on literally any platform smoothly. Currently we are running on Polygon(Matic) obviously because of the fast transactions speed and low transaction cost there. But eventually, the plan is to make the application cross chain operable.
So we will be supporting all the major blockchains – Matic, BSC, ETH, Polka, etc.
Q8 from Telegram User @Kathdm
The DeFi11 team recently announced the IDO date for the launch on Polystarter! It will be on September 20! Why did you choose Polystarter for the IDO? Can we participate in this IDO from any country? Are there any rules to be able to participate? Is it a requirement to be registered in a whitelist? Will your IDO be carried out only on Polystarter or will you also carry out an IDO on another platform?
Tushant Suneja:
Polystarter is the official launchpad for polygon and just starting. It’s always better to be the part of official projects. After due consideration, we found polystarter as one of the best options for us. For details regarding countries and everything. Please read the guide at Polystarter ‘s Website!
Q9 from Telegram User @surendra040
Dream 11 is popular in India however are you same project with similar characterstics ? The name of your project is quite similar.
Tushant Suneja:
I would say it’s completely different and has a different meaning!
Our DeFi11 means
DeFi signifies obvious stuff Decentralised Finance. While 11 depicts the gaming ecosystem 11 games to come under the umbrella. All games unique in themselves. All our games are completely DeFi powered and decentralised.
Q10 from Telegram User @TarJan208
Defi11 is from India & You know People loves “Cricket” here, Will this game be there on the platform?
How will you ensure that All the Non-Defi & Crypto users would not feel hassle in using the platform?
Tushant Suneja:
By giving them the product and earning their trust by making more users aware about it. First test it out and then believe after using it!
Part 3 – Quiz Results
In the final part we tested your knowledge in terms of Defi11. They’ve prepared 4 questions for this part. The total reward pool for quiz was 300$.
For more information and
future AMAs, join our Social Media channels:
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Twitter: https://twitter.com/realsatoshiclub
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