DefiScale x Satoshi Club AMA Recap from 13th 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 DFC and our guest was @defiscale_team. The AMA took place on 13 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 DFC! Welcome to Satoshi Club😀

@defiscale_team welcome to Satoshi Club 🎉

Gold Rocket | Satoshi Club: We are very glad to conducting AMA with DFC!

DeFiScale Team: Hello, it is a pleasure to be here

Gold Rocket | Satoshi Club: Hello and welcome to Satoshi Club, @defiscale_team!

How are you doing?☺️

Mary | Satoshi Club: How are you today?😀

You were first 🤣

DeFiScale Team: I am very well, thank you, how are you? 🙂

Gold Rocket | Satoshi Club: we are very excited about the upcoming AMA😁

DeFiScale Team: Well, I can feel that I will be in crosshairs with questions from both of you 🙂

Mary | Satoshi Club: Fantastic! 🚀

Gold Rocket | Satoshi Club: No doubt😉

Mary | Satoshi Club: So, let’s start 👍

Could you please introduce yourself and tell us more about DFC?😉

Gold Rocket | Satoshi Club: Tell us please about yourself and your position in DFC.

DeFiScale Team: My name is Slawomir, I am from Poland and I am one of the founders of this project. I focus mostly on business side of things such as ensuring profitability of our portfolio or picking up and launching new projects within our pool

Gold Rocket | Satoshi Club: What is the essence of DFC?

By the way, a very beautiful name Slawomir – glory and peace😍

DeFiScale Team: DeFiScale is a bit similar to a venture capital firm. So, we allow staking of stable coins and DFC (as a token) on our platform and we used this pool to invest in other blockchain ventures. At first we have quite specific portfolio in mind – focusing on gambling and financial projects, which are the areas of expertise of our team.

These projects are real businesses with proven profitability that we move from non-crypto to blockchain world.

Thank you 🙂 I am glad you checked ethymology 🙂 Let’s focus on the glory today 😛

Mary | Satoshi Club: Crypto ventures 😉

How old is DFC?

Gold Rocket | Satoshi Club: Your word is law! 👌

DeFiScale Team: We started the project in July 2020. It took us a few months to open up with our platform, but we have started then. If you take our portfolio into account, however, our business and experience dates back to the 90-ties 😉

Mary | Satoshi Club: Can you give us a link, i think those, who heard about your project today will find a lot if interesting info there 😉

Gold Rocket | Satoshi Club: Great background 👍

DeFiScale Team: DeFiScale.io – all of the basic info including our investment plans can be found there 🙂

Mary | Satoshi Club: Thank you!

Gold Rocket | Satoshi Club: What plans do you have for the future? And what can we expect from DFC?

DeFiScale Team: Well, it is a long list 😉

In the nearest future, our first portfolio project will be launching commercially this month. It is a financial betting platform holding the only gambling license for such activity. We are working hard with industry leading platform provider to start crypto online casino in the coming months.

From DeFiScale itself, we shall open up for new staking stable coins shortly and we are looking into other blockchains. I mean, other than ERC20.

Gold Rocket | Satoshi Club: thanks for the answer! one more standard question and I suggest to proceed to the questions from community🚀😉

DeFiScale Team: In the longer run – new projects from our list (you can find it here: https://defiscale.io/investment-pool/ ) as well as adding more project to this list

fire away 🙂

Gold Rocket | Satoshi Club: Sounds very good 👍

Also we would like to know about your team. Who is on the project team?

DeFiScale Team: Our team is European and among key members we have:

1. Financial markets experts with around 20 years experience in Forex businesses, asset management, institutional trading etc. They come from leading brokerage houses, exchange and payment services, etc.

2. Gembling and entertainment experts – also with over 10 years of experience and previously involved with online casinos, betting houses and other gaming companies.

The team’s structure and our “collective knowledge” is tailored to benefit from our business idea and to lead our first portfolio projects (such as FinBet or ShadowBit).

Essentially the innovation that we bring here is our expertise in financial and gambling markets that is used in crypto based venture capital focusing on seed projects.

Mary | Satoshi Club: Are your team members public?

DeFiScale Team: No, not at this stage. But we will announce leaders of our projects shortly.

Gold Rocket | Satoshi Club: Thank you very much Slawomir for the great intro! 👏👏👏

Mary | Satoshi Club: Gotcha! Thank you for your answers!

Ready to go to the questions from our community?😉

DeFiScale Team: Always ready 🙂

Q1 from Telegram User @ngonguyenkhang

What are the highlights of your project and products that you believe will help you succeed? How revenue is generated to sustain the project, and what plans do you have to attract more users in the future?

DeFiScale Team: Thank you for your questions

In short, as I have written before, we operate similarily to venture capital firms. We invest in early stage crypto projects that focus on real business. And what will help us succeed is that we are very open about what we invest in and how we earn profits to reward your staking.

This means that getting involved with us and having DFC as a token is similar to being among founders of a series of new tokens. Tokens that are based on real business.

We pick the portfolio carefully, so that we ensure the profitability of our portfolio projects – and therefore profitability of DeFiScale.

Profits from DeFiScale are planned to be used to buy back and burn DFC – creating our own demand for tokens. And this demand originates from real profits. So in the long run the plan to bring more users is based on being profitable – plain and simple.

Mary | Satoshi Club: You told that you pick your portfolio carefully, can you explain the process? As i understand you will choose for your investments not only old and well-known projects, but also new😀

DeFiScale Team: So essentially, the first projects are picked based on non-crypto proven projects. But all of them are start-ups. From our vast portfolio of gambling and financial projects, we have picked some that meet our criteria:

-probable very high profitability

-our expertise in the field

-the advantage that we get from getting these projects into crypto world

This is why we start with gambling projects now – more and more strict regulations and payment providers troubles give the players even more incentive to join crypto platforms. And we have picked 2 special gems as the first projects that we launch

Gold Rocket | Satoshi Club: Thank you very much for your answers! ready for the next question?🚀

DeFiScale Team: sure

Q2 from Telegram user @giovannialc

As many of us know today, what is most common in the world is theft and therefore the users of any project seek to inquire a lot about security before investing. Would you like to know if any type of audit has been carried out on your contract? Have corrections been applied to the errors found? Who was in charge of conducting the audit? Is the security of the DeFiScale platform continually tested?

DeFiScale Team: So first of all, we have been audited by Certik with a 93 score. Security of our platfor is tested on an ongoing basis by external IT teams (so not our developers obviously). And of course we work continously on improving both our product and our security. After all IT project is not something that is done. It’s something that is being done 😉

Gold Rocket | Satoshi Club: Safety first! Thank you for taking care of this! Could you share?😊

Mary | Satoshi Club: Do you want to continue audits? May be one more? Hackers are always around, it’s our current pain

DeFiScale Team: We will do it periodically. But to be honest, our smart contract is very straightforward, so we focus on continous security monitoring of the platform. This is where any potential vunerability can be found. DFC as a token is safer than businesses that focus on technology innovation. And of course this does not mean that we do not aim to keep track of this security

https://www.certik.org/projects/defiscale

Mary | Satoshi Club: Thank you for your answers! Ready to proceed?😀

Gold Rocket | Satoshi Club: Thanks for sharing👏

DeFiScale Team: As always 🙂

Q3 from Telegram user @Jonahapagu

Defiscale claims to provide the highest profit rate in the market, yet has a fixed return for it’s users with an APR of 25%. It is no longer news that alot of projects offer returns that are higher than this, this only means that your claim may not be valid, so apart from the fixed returns user’s get on your platform, what other forms of profit will they get for investing in your platform that makes your claim of being the provider of the highest profit rate in the market valid. Apart from investing the deposits of users, what other ways will Defiscale generate profit for it’s users that they can’t do on their own..

DeFiScale Team: You are correct. There are now a lot of projects with more attractive APR. At this moment. Our main advantage is that our profits – and your APR – is a result of real business. And what we offer is based on real business calculations. So short term, other projects may offer higher APR, but we are here to stay for good. And even if you are not convinced now, you will be able to see in time.

Also:

Mary | Satoshi Club: What are your plans for bear market? As you understand it will come one day

DeFiScale Team: do not forget that as reward of staking you receive DFC, that is related to profits of the business (we use the profits to buy DFC and burn)

The advantage of our project is that nothing changes for us in the bear market. Look at it this way:

1. significant part of our portfolio is and will be gambling projects.

2. people turn to crypto gambling because of regulations and PSP troubles with non-crypto online gambling

3. during the bull market now more and more people join crypto and this way learn how to become our customers

4. for people that just want to enjoy slots or financial betting it does not matter if BTC is at 50k, 60k or 10k. They just want to use it for deposit and play. And this is what we offer and this is how we want to profit

Mary | Satoshi Club: It has sense 😀

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

DeFiScale Team: yes, please 🙂

Q4 from Telegram user @h1drX

I was reading about DeFiScale but couldn’t find the platform creation date, I would like to know how long you have been in the DeFi realm and what are the feats and milestones of DeFiScale from its inception to today. Also, there are many platforms that have the same function as DeFiScale, why did you decide to launch DeFiScale and what is different and unique?

DeFiScale Team: Well, I believe you have already asked similar question. As DeFiScale, we have started in July 2020. But, as said before, the environment of our operation and portfolio projects is quite seasoned.

As for the second part of the question – our innovation is not with what we offer to the users. It is with how we earn to pay out your staking rewards.

Mary | Satoshi Club: Do you have competitors in crypto space?😀

DeFiScale Team: We are proud to be quite unique ;). But obviously, there is always competition – at least indirect. For sure we have a lot of competition as a staking platform – and during the bull market we may not be very attractive when you look at APR only. And there are a few launchpads that seek startup projects – some of them quite big actually.

But what makes us stand out is our focus on creating our portfolio according to our areas of expertise. And I strongly believe that it will be seen and appreciated in time. I am sure that profit mark will appreciate this approach 🙂

Gold Rocket | Satoshi Club:[13.05.21 21:44]

Thank you very much for your answers Slawomir! Ready for the next question? 🚀

Mary | Satoshi Club: It sound attractive!

DeFiScale Team: Sure

Thanks for your appreciation 🙂 And for your in-depth questions 🙂

Q5 from Telegram user @lzamg

It seems very easy to earn profits investing in DeFiScale, but that means that we have to trust that our funds are being used wisely. So can you explain what kind of investments does DeFiScale do to ensure that the users get their profits? What is the DeFiScale strategy to invest or what criteria do you based on to choose projects for investing?

DeFiScale Team: I am very happy that so many questions are in the are of how we generate our profits or how we invest staked funds. But the answer has been seen among the other questions. So:

1. First of all we are very open about how we invest and you can find it on our website.

2. Every project that we invest in is backed by our expertise in this field

3. Our criteria of selection – I believe Mary already asked about it 🙂

Mary | Satoshi Club: And now you’re focusing only on gambling projects?

DeFiScale Team: The first projects that we launch is FinBet (financial betting platform) and ShadowBit (crypto online casino). So currently – yes, we focus on gambling. But among next projects that we announce launch dates there will be financial projects as well. And there will be a few that aim to launch this year.

Mary | Satoshi Club: Ok, let’s imagine you find a good project what do you check first? I always wonder, how ventures choose their investments.

In which case you will reject to invest?

DeFiScale Team: Well, a wise man told me once:

Every early stage investment can result in loss of entire investment. But what you invest in can drop only to 0. And it can rise 10,20, 100 times.

So the first thing to check is the potential.

The second – team. Not who they are, but how they think and if the scope of the entire business and what is ahead is well thought through.

Gold Rocket | Satoshi Club: gold words👏👏👏

Thank you very much for your answers and clarifications! Ready for the last question of this part?

Mary | Satoshi Club: Yes, this are really wise words😀

DeFiScale Team: sure

Q6 from Telegram user @Jonahapagu

Defiscale has some financial products coming soon to it’s platform, these are BitAlerts, Roboadvisor, Dex, Algotrader, and BitFX. These are quite interesting products…. can you explain how some of this products will work especially your blockchain based forex platform Bit, how will this platform work. At the moment there are no timeline or roadmap for the launch of these products, so what is your roadmap for the launch of this products.

DeFiScale Team: There is a lof of projects in our pipeline. And as I mentioned before, we focus now on 2 sectors: gambling and financial markets. We have a lot of experience in both fields. And we have team members with massive experience in Forex and let me say – very successful experience. But we have a few gambling projects that will be launched before, so our Forex is a bit down the road. This means that we shall precise the launch dates of this and other projects in a few months. But – again as said before – rest assured that there will be financial project launch before end of this year

Gold Rocket | Satoshi Club: Well… this is a wonderful answer! Want to share your roadmap by the way?

DeFiScale Team: Well, I have shared what I could. We will announce more shortly, but just to highlight the most important nearest events:

1. Launch of FinBet – still in May, so within 2 weeks

2. Launch of ShadowBit – within 2-3 months. The plaftorm is being configured for us as we speak

We have our internal timeline, but we work a bit more agile to speed things up, so we announce our progress weekly for everyone registered with our platform or people that join our Telegram group

Gold Rocket | Satoshi Club: great plans for the future🚀🚀🚀

I also suggest before live part you share useful links with Satoshi Clubbers

DeFiScale Team: Thank you 🙂

So please find below our Telegram group:

https://t.me/dfcofficialgroup

And for anyone that wants to be more involved with us, we launch bounty campaign so that you can win some rewards and have fun on the way 😉 https://defiscale.medium.com/defiscale-meme-bounty-campaign-ec1081f33a

Part 2 — live questions from the Telegram community

Q1 from telegram username @highpee

DeFiScale is similar to a venture capital firm and gives users the ability to become early founders of project. How do you select projects to found or invest in? Will it always be limited to gambling projects and are there any plans for users in case an investments rug or fail?

DeFiScale Team: Hello Johnny, thank you for your question. The first projects are already selected based on the criteria that I shared in the previous part. And we look for projects that have proven successful in the non-crypto world. Therefore we look very optimistic at our portfolio. And you will be able to prove it very quickly – FinBet will be profitable very, very fast.

As for market sectors – we start with gambling, but we aim to move very fast to financial markets and then we open up for other projects. But we want at first to build a strong core in gambling and financial markets.

Q2 from telegram username @messilolz

Have your team got any plan to list on BSC DEX pancakeswap, bakeryswap?

DeFiScale Team: Yes. Now we are working on allowing staking in other stable coins, but the next step in our IT development is multichain. And then, BSC DEX is on the list

Q3 from telegram username @h1drX

I was researching your sources of income to generate profits for users and I found that DeFiScale invests only in reliable and safe projects operating for several years, with a real business behind and with an established position in the market. But haven’t you thought about investing in the stock market? Many projects like you use these types of markets to generate income, do you plan to enter this market in the future?

DeFiScale Team: Ok, I will share something that is not on our website – one of the projects that is going to show up on our portfolio list is an investment fund (a real, licensed investment fund) that is going to invest in the stock market or automated trading on crypto etc. But this will be one of our portfolio projects.

To make a successful venture, you need some kind of investment strategy. And ours is to pick up crypto startups within our areas of expertise that have a lot of potential 😉

Q4 from telegram username @h1drX

I was struck by two things about your project, the first is regarding partnerships with other important projects for DeFiScale, I have not been able to find DeFiScale partnerships, you have no strategic partnerships with any other project? If not, why? And the second thing is regarding governance, does the DFC token possess governance? If not, do you plan to implement this function in the future?

DeFiScale Team: Well, I think I picked another question by the same user ;). But they are so good ;).

We will announce a few partnerships shortly, especially after launch of FinBet. Not everything can be done at once.

Regarding governance, we aim to introduce it later this year and one of the things that tokenholders will be able to influence are next projects that we launch

Q5 from telegram username @ngohuynh

I believe that DFC is really Great and has very big Potential to Thrive in the future. Can you please Tell me how I can do Investment with DFC? Do you have any ICO or maybe presale now?

DeFiScale Team: I am glad that you are interested. You can get our tokens as a reward of staking or purchase on an exchange – we are currently listed on HitBTC and CoinDeal. But we do not plan any other sales of tokens.

Q6 from telegram username @victorogb

How will DFC be impactful in the long-range, what barriers will it eliminate?

DeFiScale Team: Well, we are essentially the first blockchain venture. We wish that we are only the beginning of really introducing new crypto projects in an easy way also to people that are not very experienced in picking new projects for investment themselves. And actually in the first sale of tokens we got a lot of investors that bought crypto for the first time in their lives

Q7 from telegram username @cryptofollower

I see something on your website saying; the other reason that you may have issues with access to your account is that your account could be temporarily blocked. So isn’t it the reason why people move to decentralized finance and get rid of banks where they can freeze and block the account. What are the reasons you can block users’s accounts? What happens if you block them, can’t they use their assets or they can’t use your services with their external wallets like metamask wallet?

DeFiScale Team: Basically only security reasons – multiple password input failure, request from the email that the user registered with to block the account (when the user suspects security failure on their side) etc. Or attempt to hack into our system using the fact that the user is logged in.

Q8 from telegram username @KhaleesiTheCryptoLady

What new protocol does DeFiScale team plans to build out?

DeFiScale Team: I am not sure if this is what you asked but if the question was about building new protocol as a technology, then the answer is: none. We believe that crypto is meant not only to be used to build crypto, but also for everyone to build business on it, or to use it to pay etc. And we aim to be on the business side of things.

Q9 from telegram username @belkysgonzalez

You define the DFC token as a multipurpose token, so can you explain what are the main utilities of this token, apart from using it to reward users? And I read that the supply of DFC is limited to 2 100 000 000 tokens, so can you explain how is it distributed and how do you regulate the mining?

DeFiScale Team: Hi, thank you for the question.

We aim the token to be used to reward for staking, but we also buy back the token to utilize our profits. As well, there will be a series of bonuses in our portfolio projects for having or using DFC (every project will announce it separately and they will not be the same among projects). And we will announce governance model for our tokenholders shortly. So it is multipurpose.

As to distribution – the basics you can find here https://defiscale.io/our-token/ . As for minting – new tokens appear as a result of staking. They are minted according to market value of DFC. If the cap is reached, then the rewards will be paid out in stable coins.

Q10 from telegram username @boradam

Are there any plans on your end for margin, lending or yield farming in the future?

DeFiScale Team: DeFiScale will remain Venture Pad. But we aim to launch a series of financial projects down the line, and what I can tell you now is that margin trading will appear within 12 months.