Welcome to another episode of our AMA series. Today we are glad to tell you about the AMA session with our friends from GamyFi.
GamyFi is a Gaming and E-Sports Platform Powered by Elrond. The AMA took place on March 28 and our guests were @SPJ_GamyFi and @rbhrd. 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 COMMUNITY QUESTIONS
Mary | Satoshi Club: Hello Satoshi Club! We are happy to announce our AMA session with GamyFi! Welcome to Satoshi Club.
D. | Satoshi Club: our today’s guests – @rbhrd and @SPJ_GamyFi! hello guys, welcome to Satoshi Club! how is it going?
SPJ | GamyFi: Hello Guys
Mary | Satoshi Club: If everyone is great let’s start our journey to the Gamyfi world! Could you please introduce yourself and tell us more how did you start with GamyFi?
SPJ | GamyFi: I’m Satya Prakash Jena. I’m one of the co-founders and Head of Operations at GamyFi. I have multiple years of experience in Blockchain technology and Fintech. @rbhrd is my colleague Rahul Sharma. He’s also a co-founder and Head of technology. He has 7 years of experience in software development and management.
We like cricket, football and other sports very much. Fantasy sports allows you to be a part of the sports, get in the seat of the captain. But there are multiple problems with the current applications providing such services. They are bound to County restrictions and also use fiat payments making them slow and highly taxable (up to 50%).
We were aware of blockchain technology and also the good uses. Therefore, we decided to build a fantasy sports Platform where anyone from any country can play with any person on earth. Without County restrictions and smooth payments while also being able to withdraw earnings within a minute.
Mary | Satoshi Club: How many members are in your team?
SPJ | GamyFi: 8 developers
3 management staff. We’re just team of two at start, but now we’re a strong team
Mary | Satoshi Club: And how many time passed from idea till creation? Are you a young project?
SPJ | GamyFi: It’s been 5+ months. We have been developing since November.
Q1 from Telegram user @MihaiPisica
I saw on your medium some details about rules to join IDO on GUMPad, but anyway I’m a bit confused. It is written you will have there 3 pools. But I don’t quite understand why there are different formats for each, what’s the idea? in the 1 pool, there will be 50 slots, but it’s not clear how they will be allocated. In the second there is a whitelist, but the format is “first come, first serve”. Does it mean the firsts one who fills the whitelist? Ok, but how many slots are there (there are not indicated)? The 3rd’s one format is a “Lottery” – but again, no slots indicated, not the mechanism of lottery, and so on. In order to all this, can you give us details? And another question regarding GamiFy IDO – will we need ETH or USDT in order to participate in IDO on GUMPad?
SPJ | GamyFi: you can confirm whitelist details from GUMpad, this is a whitelist FCFS, you need to reach certain criterias to get whitelisted. The IDO will be with USDT. If you can’t get whitelisted.
No worries. You can try BakerySwap or DODO.
They don’t need whitelisting. DODO is open for all while BakerySwap requires BAKE holding. More details here https://link.medium.com/eBZi3HPyXeb.
D. | Satoshi Club: so BakerySwap and DODO will be your first exchanges?
SPJ | GamyFi: Uniswap and BakerySwap.
Mary | Satoshi Club: Nice details! Thank you! Hope everyone who want will be able to buy.
SPJ | GamyFi: Moreover, listing price is 1$.
Q2 from Telegram user @yellowchamp
One of the attractive core feature of Gamyfi is having a Community incentive in which 51% of the Company Profits go to the GFX token holders. Hold GFX on the platform to receive Quarterly Incentives. Is there a minimum amount of $GFX to hold to be eligible for the incentive? Why do you decide it to be quarterly but not monthly? So aside from this incentive given to GFX holders, do you plan to add other incentives for the Community especially to early adopters and the loyal supporter of Gamyfi? Thank you.
SPJ | GamyFi: There is no minimum limit. We considered Quarterly distribution better to Reward the long term holders and to bring more stability. There will be more benefits of holding GFX. GFX holders get certain amount of free entries to pools and also power-ups, fee discounts.
Mary | Satoshi Club: Users will need to claim this quarterly incentive or you will send them directly to their wallets?
SPJ | GamyFi: Directly to app wallet.
Mary | Satoshi Club: As I understand you will have erc20 token from the beginning, right?
SPJ | GamyFi: Our token is a cross-chain token, ERC20 and BEP20.
Mary | Satoshi Club: You will distribute both for erc and bsc holders, right? I mean that eth gas fees are huge now, so distribution will cost money, even if it’s done quarterly.
SPJ | GamyFi: Yes Any GFX token deposited to the app is eligible for Incentives
Q3 from Telegram user @Korryl
I think Partnership is a good way if a project wants to spread and growing fast. Actually I already check that GamyFi just make agreement with Crust Network, can you tell us what are the great result that both GamyFi and Crust get from this collaboration? Also do you have plan to increase your partner in nearly future, if you don’t mind can you share which project is it?
SPJ | GamyFi: Partnerships are not only good for spreading the word but also for better product. We are always looking for features we can integrate to our platform for the benefit of users. We have partnered with Crust Network to bring IPFS storage security for our user’s data and NFT marketplace. We have also partnered with Elrond to build the fantasy sports with a team and action explorer. Users can scan their selected teams, wins without any centralized control. We are also working with multiple other partners to deliver cool games and products for our community. More will be announced soon.
Mary | Satoshi Club: Are you looking for partnerships only in the cryptoworld?
SPJ | GamyFi: No, also in real world. Our Fantasy Sports app requires data from real world (sports matches). It requires updating every minute which no crypto world project can provide.
Mary | Satoshi Club: Gotcha! You already have great partners and we’re expecting even more news from you about partnerships!
Q4 from Telegram user @h1drX
GamyFi has an “NFT Gaming and Marketplace” space, which consists of users being able to exchange NFT in the market and play with them. What types of NFT’s are there in GamyFi? Are they useful in a certain game? Can a user create their own NFT’s? Does E-Sport provide NFT’s to the platform?
SPJ | GamyFi: We are Launching our own NFT marketplace in Q2. GamyFi and multiple other BEP721 NFT’s can be traded on the Platform. GamyFi Platform brings more usecases to NFT’s. On GamyFi Platform, users earn NFT’s for reaching certain achievements and winning leagues. These NFT’s can be used to get power-ups on the platform, get discounts on fees and also can be sold out in marketplace. User’s will be able to create own NFT’s on GamyFi in Q3.
D. | Satoshi: Club: so your NFTs won’t be available on ethereum?
Mary | Satoshi Club: You were first.
SPJ | GamyFi: Not for now at least. Who is willing to play with 10$ by paying 20$ gas?
Anyone?
D. | Satoshi Club: haha yeah, makes sense.
Mary | Satoshi Club: It’s not me definitely.
Q5 from Telegram user @sofiaisla
You mention that GamyFi is the first Hybrid Fantasy gaming platform that will allow even non-crypto users to join the platform. Can you explain why they are called “Hybrid Fantasy” if they only have sports-type games? Do you plan to include this type of Hybrid Fantasy game later? Also, how does this protocol work to ensure that non-cryptographic users can join? What will happen to the rewards or the handling of crypto in GamyFi? Do you have any strategy for new users to learn about cryptocurrencies?
SPJ | GamyFi: Hybrid Fantasy Sports means combination of Blockchain and off-chain technology to bring the best. We use traditional strategies with the help of Blockchain (Elrond) to bring up an easy to use, secure and scalable Platform. Users don’t need to learn uniswap, Ethereum, Blockchain etc……. We will do that for you. You just need an e-mail to sign up. But a blockchain wallet is required if you are interested in NFT’s.
Mary | Satoshi Club: Do you have any video or articles about this? Visualization always woks good!
SPJ | GamyFi: No other Platforms has this kind of services and also no Platform provides features as much we do. That’s why we are the first Blockchain Fantasy Sports application. Users can understand that when they use the platform.
We are working on a guide for the platform. The beta will be live in a few weeks.
Mary | Satoshi Club: Everyone will be able to participate in beta?
SPJ | GamyFi: Yes, Private beta will run for a week for the winners of our beta contest and then we’ll open it for everyone.
Mary | Satoshi Club: Awesome! Sure, we will try it we like betas.
D. | Satoshi Club: are there any possibilities that you will integrate bank card paying function in the future? for non-crypto users, who could pay with fiat?
SPJ | GamyFi: We’ll Integrate transak to grab some GFX/USDT on the platform.
Q6 from Telegram user @RosemaryBianco
In your roadmap exactly in the third quarter (Q3), you plan to integrate the iOS mobile APP launch. Could you explain me how this app will work? Will it only be available for iOS and not for Android? Will users be able to play and trade GFX tokens through your APP?
SPJ | GamyFi: The Fantasy Sports Android app will be Launched in Q2 and then we’ll Launch the iOS version in Q3 or end of Q2 if possible. Users can play with GFX tokens on the app and swap GFX – USDT.
Mary | Satoshi Club: So, Android app will be even faster. Btw, usually swaps in apps are expensive, what about your app?
SPJ | GamyFi: It will be feeless.
Mary | Satoshi Club: Fantastic then I will be your user.
PART 2, TELEGRAM COMMUNITY LIVE QUESTIONS
The chat was open for 120 seconds; a lot of questions were posted by Satoshi Club community. Our guest chose some of them.
Q1 from Telegram User @atillayeni
Why don’t you have a whitepaper on your website? Is it not published because of the security?
SPJ | GamyFi: We haven’t yet published a whitepaper. We believe on real products rather than long meaningless text. And moreover due to the value of the idea and project. We have been copied twice. We don’t want anymore copies before we Launch.
Q2 from Telegram User @Wormz28}
BETTING and LOTTERY are one of the features of GamyFi aside from its Fantasy Sports. So can you tell us what are the specific events your users can bet on your betting platform? Also how about the lottery, can you tell us too how it actually works and how’s the process in choosing your lottery winners and how do you manage the fairness for all?
RS | GamyFi: So we will start with the prediction market for Sports and then move to economy, entertainment, real events. And for lottery fairness we will use randomness using Chainlink
Q3 from Telegram User @Dahyor4
From your site it says Gamyfi is community driven, which means users can make proposals to improve the protocol. What is the minimum token requirement a user must hold before he can make proposals? Will each proposal taken into consideration go through a voting process by the community for final acceptance or rejection?
SPJ | GamyFi: Yes, GamyFi is Community driven project. A minimum of 10,000 GFX (0.1% of max supply) is required to make a Proposal on governance Platform. Any proposal with more than 500,000 GFX in support will be taken in consideration and implemented as long as it doesn’t hurt the project
Q4 from Telegram User @mctrho
Can you tell us a bit about the Quad IDO that GamyFi will be holding on March 29 at 12:00 PM UTC on BakerySwap Launchpad, Zendit Launchpad, DODO DVM and GUM-pad? How can users participate?
SPJ | GamyFi: Users require to be whitelisted in Zendit and GUMpad which is now closed. But BakerySwap and DODO is open for all. You need to have certain amount of BAKE to take part of in BakerySwap IDO. DODO is open for all and no rules apply. But it’s a bonding Curve and price increases with each purchase. Learn more about it here
https://link.medium.com/eBZi3HPyXeb
Q5 from Telegram User @smelekin
What is the use case of GamyFi Token? Can I earn $GFX token from a prediction game and spend it on another game or can I stake the token I earn from games?
RS | GamyFi: Yes there will be couple of games from where you can earn GFX tokens.
Q6 from Telegram User @cindy_crypto
How do you plan to mix NFTs, gaming and blockchain together and working game right now?
SPJ | GamyFi: Our platform Rewards NFT’s to users for reaching certain milestones and finishing tasks. The NFT’s can be used in game to get power-ups and get fee discounts. The game will be launching in Q2 with NFT marketplace.
Q7 from Telegram User @csgonub
You know, gaming industry is really huge and more than tens of billion-dollar industry. What is the speed of your system? Do you think blockchain technology is fast enough to keep up with this speed?
RS | GamyFi: Yes, you are correct solely blockchain cannot provide the good user experience when it comes to the games with sports segment we will be combining multiple tech work to provide the best user experience
Q8 from Telegram User @lzamg
I’m sure that many users will be attracted to GamyFi because they are fans of sports or gaming, but probably a lot of them won’t have much knowledge about crypto, so how inclusive is your platform in this matter? Are GamyFi and its products easy to comprehend and use? Or do users need to have at least a basic understanding of blockchain?
SPJ | GamyFi: Users don’t need understanding of blockchain. We do the Blockchain work for our users. You can sit back and enjoy the game without drawbacks. GamyFi uses hybrid Blockchain technology for that. And you can also buy GFX with fiat soon.
Q9 from Telegram User @mobilejii
Could you please give us $GFX metrics and token distribution plan and explain about its utility and usecases?
SPJ | GamyFi: Please refer to this post for that https://t.me/GamyFi_HQ/17409
Q10 from Telegram User @K2ice
Are the incentives the same for all GFX holders irrespective of the amount of GFX hold by a user or the higher the GFX held, the higher the incentives?
RS | GamyFiIt will be based on your holding the as per users.
PART 3, QUIZ AND INFO
As usual, for the third part, Satoshi Club Team asked the chat 4 questions about GamyFi. A link to a Quiz form was sent into the chat. Participants had 10 minutes to answer. 300$ were distributed between the winners.
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