Defi 11 x Satoshi Club AMA Recap from 21st of May

Hello, Satoshi clubbers! Another AMA took place in Satoshi Club and we would like to introduce to you the AMA session with our friends from Defi 11 and our guests were @guptaritam and @tushant77. The AMA took place on 21 May.

The AMA session was divided into 3 parts with a total crypto reward pool of 500$

In this AMA Recap, we will try to summarise the most interesting points for you.

Part 1 — introduction and questions from the Telegram community

Mary | Satoshi Club: Hello Satoshi Club! We are happy to announce our AMA session with Defi 11! Welcome to Satoshi Club😀

Mihai Pisica: Hello Satoshiers and DeFiers! Another sunny day outside and indeed in Satoshi Club! Welcome everyone to our AMA with our friends from DEFI11!

Our today guest will be @guptaritam and @tushant77

Welcome in Satoshi Club guys

@guptaritam is Ritam Gupta, the CEO & Co-Founder of DeFi11

Ritam Gupta: Hi Everyone,

Glad to be here 🙂

Mary | Satoshi Club: Welcome here 👍

How are you today?😉

Ritam Gupta: Absolutely good!

How are you?

Mary | Satoshi Club: I am fine thanks!

Let’s start our AMA?🚀

Ritam Gupta: Sure, excited 🙂

Mary | Satoshi Club: Could you please introduce yourself and tell us more about Defi 11?

Ritam Gupta: Sure

So, I am the founder and CEO of DeFi11.

Just to give you a quick brief about myself, I come from a software dev background, being working in the BC domain for almost 7 years now.

Started as a blockchain developer, went into consulting and then eventually landed into business! Worked with few blockchain tech giants as well in past – Deloitte EMEA Blockchain Lab, Bharti Airtel, etc.

Some fellows call me Blockchain and Bun 😀

Mary | Satoshi Club: Awesome experience 👍

How old is Defi 11? What is main concept behind it?

Ritam Gupta: While just to define DeFi11 in the most precise way, I will say that it is a defi powered Gaming Ecosystem involving various different modules like fantasy sports, NFT Hybrid World simulation, P2P predictions, Betting, etc

Well the idea conceptualisation almost longs back to 6 months, but the full force action began this February!

Mary | Satoshi Club: Very interesting! Gaming is very popular now, it’s really on fire in crypto!

Mihai Pisica: From where “Bun” does it come? 😁

Ritam Gupta:

Here comes the Bun 😀

That’s me :0

Mihai Pisica: i like this concept. Do you want to go deeper into presenting your project?

Ritam Gupta: Sure

Mihai Pisica: Ok, let’s start the Party here )

Q1 from Telegram User @Highpee

Your project is Defi 11 and I read that you intend to release 11 different sets of games. I can see that you already have Indian Cricket Series (IPL2021) as part of the games that are currently onboarded onto the platform. What does the 11 in your project name represent and why will the games that you will be projecting only limited to 11? What are the consideration you look at when adding games onto the platform and will it be possible for community to have a say on the type of sport that should feature? How are your contents designed to provide an immersive user experience for both passionate gamers and reward seekers?

Ritam Gupta: Oh well, that’s a detailed research about the project. I am impressed.

To answer this

We will bring in 11 unique games all together in the ecosystem.

Regarding the sports, we keep this decision with the community – they choose and vote.

DeFi 11 is the world’s first completely decentralised gaming ecosystem that is totally community owned. Governed by the community and operated by the community

Right now we are operating with Cricket and Football, while eventually we will let the community decide what new sports to add in

using their governance tokens

done

Mary | Satoshi Club: What is you interest in developing this platform?😉

Mihai Pisica: Do you have a vote system? I mean is there a mechanism that influence the vote on the base of how many tokens the Hodlers have in his propriety?

Mary | Satoshi Club: I mean if you will fully give it in governance to the community?

Ritam Gupta: Yes, there will soon be an addition of a governance token in the system. and the entire ecosystem will be working as a decentralised network. So, governance token holders will be able to vote for the system.

These governance token distribution will be based on many strategies

who holds the most tokens, who lives longest in the ecosystem, etc

Mary | Satoshi Club: Sure, you will make it as honest as it is possible!

Mihai Pisica: And fairness as possible )

Ritam Gupta: YES, indeed!

Mary | Satoshi Club: Thank you for your answers, Ritam!

Q2 from Telegram User @meml97

It caught my attention that while taking a look at your roadmap, I saw that you have plans of releasing “Virtual World Beta”, could you tell us more about this? On what will this virtual world be based on and what will it’s main function be? What will it offer to users that will make it appealing to them?

Ritam Gupta: NFT Virtual World is the next thing coming in soon. Its literally huge and never seen before!

It is a complete hybrid world combining virtuality and reality!

Precisely it is a playground for gamers using thier NFTs

Everyone gets to own the NFTs for their favourite athletes and play different sports using the NFTs and obviously other NFT advantages linked to it as well like they can trade, stake, etc

So, entire meta verse

of NFTs

Mihai Pisica: Who is designer of your NFTs? Can you show some with our Community?

Mary | Satoshi Club: Will your NFTs be upgradeable?

Ritam Gupta: The first exclusive set of our NFTs will be out soon

we will choose to keep few surprises for the users

and disclose them as when the time comes

till then stay tuned to our TG @defi_11

🙂

Mihai Pisica: Please share them with us asap, we would like to be the first who see them 🤩

Ritam Gupta: We will do some exclusive NFT drops to your group, My words 🙂

Mihai Pisica: We have your word here, no way to escape 😀

Ritam Gupta: Haha, not escaping for sure!

Q3 from Telegram user @cryptofollower

I see you are launching your Beta App on 9 June 2021, 01:00 PM IST. May I suggest you to launch it at 11 June, to be catchy and not forgettable? What will be the features on your beta application? Also there are a version on your website for android uploaded to google drive. Why does it say copy and save your private key before updating the App? Are there a bug that’s resetting the wallet?

Ritam Gupta: I might also need to jump onto a different call, so important that I cannot really defer that.

I have @tushant77 taking it forward from here

I would convey my extreme regards to the entire community here, however small, but I enjoyed the interaction here. Happy to answer any questions anytime, here are my personal social links, feel free to drop in a Hi to me 😛

Twitter (https://twitter.com/ritamg123) | LinkedIn (https://www.linkedin.com/in/ritamgupta)

Mihai Pisica: Ok Ritam. Have a nice day, wish you succes!

Welcome to our Ama @tushant77

Mary | Satoshi Club: It was a pleasure to e-meet you 👍

Ritam Gupta: Likewise 🙂

Btw, I feel I can answer this question before leaving

Mary | Satoshi Club: Sure!

Ritam Gupta: Let me take it then

Mihai Pisica: No problem Ritam, take your time )

Tushant Suneja: Hi All. Hope you all liked it with Ritam!

I will be continuing from here on behalf of @defi_11

Ritam Gupta: Pretty creative suggestion, we will make it 11th June then upon your suggestion 🙂

See the website, we just changed it now !

Mary | Satoshi Club: Yes, we enjoyed our conversation 👍

Mihai Pisica:🚀

Tushant Suneja:To give you all a brief introduction . I am Tushant Suneja, Operations Manager @defi_11

Mihai Pisica: Great! Nice to see that our community can influence projects ideas 🙃

Mary | Satoshi Club: Are you with Defi 11 from the very beginning?

Tushant Suneja: Yes!

Who would miss such an opportunity 😁

Mary | Satoshi Club: Ahaha, we definitely wouldn’t 😉

Tushant Suneja: I am myself a gaming maniac and with Decentralization. It’s even more fun!

Mary | Satoshi Club: Than you are in the right place! Crypto all is about decentralisation!

Thank you for your answers! 😉 Ready to go to the next question?

Tushant Suneja: Yes

Mihai Pisica: I think there are something to be answered here 😁

Tushant Suneja: Yes , please!

Mihai Pisica: “What will be the features on your beta application? Also there are a version on your website for android uploaded to google drive. Why does it say copy and save your private key before updating the App? Are there a bug that’s resetting the wallet?”

This is our user’s question here )

Tushant Suneja: Features of Beta Version would consist of :

1.) Referral System

2.) Bounty program

3.) Reward System

4.) Wallet integration

5.) Some Major UI changes.

And some more features that are in testing phase.

As being a Decentralized Application we dont take any of the users data and being non custodial we don’t even keep the private key of users with us . Plus all our transactions are public. So everyone can view it.

So saving Private key is like saving your unique identity . So that you can login into your wallet in any case something happens with your app or phone.

With your private key you can login back into your account

Mihai Pisica: Can you share with us some of Bounty program and Referral System details? Maybe shortly

Mary | Satoshi Club: To be honest i used a lot of dapps and no one of them asked me to save pk

Tushant Suneja: It’s important or how would you login back into your account when your device is broken or anything happens with your ap😀

Bounty program would be rewarding users who could find bugs in our app . We are planning to make our GitHub public so that even more bugs could be found .

As for the referral programme , it would be similar as to the most of the Referral’s where you could earn D11 tokens as reward points

Mihai Pisica: Cool that! A nice incentivize for the community to get into the project efficiency

Mary | Satoshi Club: Do you have to add something @MihaiPisica @tushant77 or we can go to the next question?

Mihai Pisica: Everything’s clear for me. Would you want to proceed to the next question?

Tushant Suneja: Yes, we can!

Q4 from Telegram user @Arisabela

DEFI11 will definitely enter the world of NFTs with its own Marketplace, my question is will it be possible to access the market through the same App? Will it be a feature that we will see in your beta app that will be released soon?

Tushant Suneja:

Here’s our Roadmap for all the users who are inquisitive about the addition of new features to our App. Currently we have completed all the items of our Q2,2021 and even trying to take one item of the next quarter and doing it in this quarter!

Plus each quarter there will be Community voting to check what our community needs us to do. So that we could plan that also .

Maybe if we complete our Q3 targets on time NFT marketplace would be released a bit earlier than planned!

Let’s see will put this question in the community voting for the next quarter

Mary | Satoshi Club: So, with your App we will get access to NFT marketplace through the same app?

Tushant Suneja: All features would be integrated within the same Move Application and everything would be so easy jand controlled in a super easy way via a click

Yes

Mary | Satoshi Club: I think your community will be happy to see your marketplace done earlier! But my next question will be about your app security

What about it?

Tushant Suneja:

All these features would be included !

So it would be Fantasy Gaming Ecosystem !!

Mary | Satoshi Club: Looks good!👍

Tushant Suneja: Where the use cases of $D11 token would be unlimited!!!

Mary | Satoshi Club: Awesome!

So, what about security?😉

Tushant Suneja: As for security we have a QA team working on the code and finding loopholes. Apart from that Third party audits are being Performed with various renowned companies that have prior experience in this domain.

Plus Bounty Hunter programme would help us even more.

The Alpha version of the App just closed a few days back and list of all the feedbacks were evaluated accordingly.

Proper testing procedures are followed. So that our customers would get a product that they can rely on!

Mary | Satoshi Club: Can you share your third party audit reports with us? our users like to read them!😀

Tushant Suneja: Sure. They will be live soon along with our beta Application .

Mary | Satoshi Club: Gotcha!

Thank you for your answers!

Mihai Pisica: Got you! For me are clear all this aspect ) Are there anything you want to add for our community regardind these points or we able to move further?

Tushant Suneja: For that you can stay tuned to our channels

Telegram Channel: @defi_11

Twitter:www.twitter.com/defi_11

Mihai Pisica: We will do it 👍

Tushant Suneja: Also, our new website would be up in withing a week or so

Stay tuned many big surprises and rewards coming soon

www.defieleven.com

Mihai Pisica: Feel free to share all these news here with us )

Tushant Suneja: For all those who wanna know what are our Social media handles:

https://linktr.ee/DeFi11

I wanna it’s just I wanna make it official and then forward it to you guys

That would be the ideal way to do it!

Mihai Pisica: Sure! We will do like this

Ready for the next one?

Tushant Suneja: Yes

Q5 from Telegram user @antoni_azx

There is something that I had not seen before in another DeFi platform and is that the fees for joining contests or taking part in prediction contracts on the D11 platform can be settled either in FIAT or D11 token, how do you expect to create a fiat gateway on your platform? I mean, can I pay with a debit or credit card using USD or EUR?

Tushant Suneja: We won’t be charging any fee from the users for any transactions.Matches will be played in D11 tokens and stable coins

Mary | Satoshi Club: So, no fiat, right?

Tushant Suneja: Stable coins mean fiat only

Mary | Satoshi Club: Oh, got it😀

Tushant Suneja: Just converting to D11 coins would give you more options

Mary | Satoshi Club: D11 will be gateway to everything 😀

Thank you for your answers!

Q6 from Telegram user @surendra040

Defi 11 has done a recent collaboration with Tdefi . What benefits are expected from this tie-up and as I know Tdefi pledges a strategic investment too ? Can you tell us more about the investment type done by Tdefi?

Tushant Suneja: Yes TDeFi as a partnership will boost innovations, exposure and networking in the DeFi and blockchain space. It will be a watershed moment for DeFi 11 since TDeFi has a very strong community consisting of a token advisory team, mentors and investors who could be useful for providing valuable insights to help the DeFi 11 project reach to the next level.

Apart from it TDeFi will help DeFi11

In expansion of NFT space

Few days back we conducted a live youtube AMA with them

Mary | Satoshi Club: Awesome!

Btw, will be your tokens available for staking/farming?

Tushant Suneja: Yes soon!

Staking would be available . Will disclose special dates for your community so that they can be the first ones to claim the reward

Part 2 — live questions from the Telegram community

Q1 from telegram username @KhaleesiTheCryptoLady

How can the community participate in adding new sports to Defi11? What are really the main benefits of holding the governance token?

Tushant Suneja: Community can suggest or can participate in the voting process each quarter which will help the decision maker in getting the needs of the community.

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.

Q2 from telegram username @captainprice111

Phone applications attract more attention from users. Does your app have both Android and iOS versions?

Tushant Suneja: Yes our iOS version is under review .But our beta version is already under testing process so we are thinking to launch our Beta Application for Android and iOS at the same time now. It would be grand launch so will need users from both Platforms

Q3 from telegram username @cryptonation2

Project adoption and awareness will be important for growth of project so what are your plans to educate beginner and who dont speak english?

Tushant Suneja: For English and languages there will be soon conversion available .

As for the crypto and non crypto users.

As for those who aren’t familiar with Crypto. We will be bringing up updates where you could transfer from your exchange’ s and then enjoy fantasy games along with other features in DeFi11 app.

Also we have some documents along with video available that would be in a laymen terms so they could get the idea of how to use it and be a part of the revolution!

Q4 from telegram username @Aqillaa

According to the roadmap, what are your most important next priorities? Does your team have enough funds and strong community to achieve those milestones?

Tushant Suneja:

Here are the list of our latest investor & partners

Or fundraising article would be out in a day or so!

Q5 from telegram username @MCBTrade

Is DeFi 11 just targeting the Crypto industry or Could it be cooperation with global companies in the future?

Tushant Suneja: DeFi11 is a combination of the two most grossing industries in the last two years i.e the Gaming and the Crypto world. Bring together both DeFi11 plans to revolutionize the world and give users a product they would have only imagined earlier!!

Q6 from telegram username @cryptofollower

One of the features of Defi 11 is solving the problem about manipulation of data and false reporting of daily volumes. About Fantasy Sports how can you prevent manipulation? How do you get real world updates and values? Did you create your own Oracle?

Tushant Suneja: We are non custodial so we don’t keep any data from the users. Plus everything is stored on blockchain and is public so that users can govern and evaluate everything!

Q7 from telegram username @Robotliker1

What is your bug bounty programme , can you tell me more in detail whom should I contact for submission and what is the pool?

Tushant Suneja: It will be live on our website. The pool hasn’t been decided yet but soon all the details would be available at

www.defieleven.com

Q8 from telegram username @CryptoBaby_007

Is #Defi11 a blockchain version of DREAM11? As I can see a lot of similarities concept wise. Is there any connection between the two?

Tushant Suneja: On fantasy gaming part maybe. But apart from it Dream11 is nothing compared to all the features we will provide in our Ecosystem. Plus you for yourself would be able to judge once you lay hands on our product .

Q9 from telegram username @ERMD18

In addition to a great team and experience, marketing or promotion systems are no less important in a project, so that the project is successful not many users. How is your marketing method? Is it focused only through social media? Or is there another way to introduce your product or your platform to the crowd?

Tushant Suneja: For marketing we have various strategies and are already a part of the global communities. Social media is the right way to promote as of now. Events are lined up but due to Covid they were delayed . Yet few conducted online and there are many to come because from time to time we need to create awareness for the launch of major parts of our application!

Q10 from telegram username @Shaa93

DeFi11 – a decentralized gaming ecosystem. What is the advantage of DeFi11 over other Fantasy Gaming Application??

Tushant Suneja: Some exclusive feature of DEFI11

● A big no to dummy winners or fake winners

● Safe P2P transactions and no third party involvement

● Auditing is taken care of, ensuring no market manipulation.

● There will never be changing of users prediction mid-contest

● Equal opportunity for all, no undue advantage to company’s employees

● No false reporting as users’ anatomy is maintained entirely.

● It is completely decentralized. With Defi 11 there is no fear of fraud and data mishandling.

Q11 from telegram username @ysasoma

I read that DEFI11 will not burn a single percentage of its D11 tokens, so how can you guarantee to users that the token they have designed will have a good value over time, what elements guarantee that it will generate profits and that it will not lose value after the first few months of its life on the market?

Tushant Suneja: 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.