GamefiProtocol x Satoshi Club AMA Recap from the 9th of September

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 GamefiProtocol and our guest, @Alex_GameFi. The AMA took place on the 9th of September.

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&WebSite

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

Gold Rocket | Satoshi Club: Hello again, dear Satoshi Club! Today our guest is @Alex_GameFi.

Alex: Hello everyone.

Gold Rocket | Satoshi Club: Hello and welcome to Satoshi Club, @Alex_GameFi! Nice to e-meet you😊

Alex: Nice to e-meet you😗

Mary | Satoshi Club: Welcome to Satoshi Club👏

Gold Rocket | Satoshi Club: How are you doing?

Alex: I am doing well!

Mary | Satoshi Club: That’s great😻 so, let’s start our AMA🚀 Could you please introduce yourself and tell us more about Gamefi?🚀

Alex: Hello everyone!
I’m Alex. Doctor of economics, former investment director of asset management company and senior executive of listed company. I’ve rich experience in blockchain, financial investment and project management.

We started Gamefi Protocol project in March 2021. I‘m CAO (Chief Architecture Officer) of Gamefi Protocol.

Mary | Satoshi Club: How did you get involved into the crypto space?

Alex: I bought Bitcoin for the first time in 2017.

Gold Rocket | Satoshi Club: Wow😁 And when did you sell it?😅

Alex: I am holding BTC.

Mary | Satoshi Club: 2017😀 This year brought us a lot of amazing people!

Alex: We found that the Metaverse has a huge opportunity.

Mary | Satoshi Club: Yes, Metaverses are on fire now🔥

Gold Rocket | Satoshi Club: Yes, you are in a great market period👍

Alex: From March 2021 to June 2021, GameFi ushered in an explosive period. The number of daily active wallets for blockchain games increased from 51,000 to 375,000, an increase of more than 600%, and the number is still expanding.

Mary | Satoshi Club: Oh, I feel mass adoption is near😀 The main thing is to make sure that the industry is ready for this.

Gold Rocket | Satoshi Club: Also we would like to know more about your team. Who is on the project team core?

Alex: Our team has rich experience in game development and project operation, with strong execution.

Mary | Satoshi Club: Where we can find more information about team members?😀 Is your team public?

Gold Rocket | Satoshi Club: Is your team anonymous?

Alex: Our team is open to investment institutions and exchanges, but is currently partially open to the public.

Mary | Satoshi Club: Gotcha!😀

Alex: As a Gamfi aggregation platform, we will authorize many high-quality games to launch (IGO) on the platform. So the games launched (IGO) on our platform are not only reward based games, but also games with high playability. At present, the track is still in the blue ocean.

We have received strong support from several listed game companies and will jointly launch the popular Gamefi.
Investment institutions and industrial capital provide sufficient funds for project development.

Mary | Satoshi Club: Wow, can you tell us their names?😀

Alex:

  • Jess CEO
  • Ying CTO
  • Alex CAO
  • Jeb CPO

Mary | Satoshi Club: Which blockchains will support your platform?

Alex: Initially it will be on BSC, and then it will support other chain later.

Gold Rocket | Satoshi Club: Thanks for great introduction, we will have several questions selected for the Part 1. Ready to start?

Alex: Ok!

Q1 from Telegram user @Olu_Makanaky:

You place deflation mechanisms on GFI token by making deflation through repurchase and burning where GMiner fund’s participation in the income of Game/De-Fi projects will be 10%, GSWAP Tx fees 30%, Lottery/Grab bag revenue 80% and Game List (IGO) income 80%. If burning of 80% of the repurchased fund pool occurs and 20% is used to purchase Forth and permanently lock the position for the first time and after some years the process will be repeated, where 20% will be locked all the time, don’t you think this will typically weakening the value of GFI token? Is there no tendency that the value of GFI will fall in price, which will lead to lower users investing? What actually do you want to achieve from this process of your deflation?

Alex: GFI is the driving force behind the GameFi Protocol ecosystem:

  • GFI can be staked in GSWAP to get GFI token rewards;
  • GFI can be used to purchase NFT products as well as GPST or MPST in GSWAP, and participate in trading, farming, and launchpools;
  • Users can invest GFI, Forth, ETH, USDT or other tokens in different pools within GMiner to obtain GFI and Game/DeFi tokens;
  • Users can use GFI to buy Lottery/Grab bag, and get bonus after winning;
  • GFI will also be used to reward Gamefi explorers, Gamefi game guilds, code contributors, and bug bounty providers;
  • Users who participate in NFT transactions will receive GFI rewards.

Of course, GFI is also an important tool for Gamefi Protocol community governance.

GFI mainly achieves deflation through repurchase and burning, which have the following sources:

  • GMiner fund’s participation in the income of Game/DeFi projects;
  • GSWAP Tx fees;
  • Lottery/Grab bag revenue;
  • Game List (IGO) income;

Therefore, the value of GFI lies in the continuous increase in platform revenue while the number of GFIs continues to decrease.

Gold Rocket | Satoshi Club: Wide use case!

Mary | Satoshi Club: Will users need to hold GFI to participate in IGO?

Alex: Yes, the platform will expect users to hold a certain amount of GFI to be eligible to participate in the IGO in the Gamelist, which is also one of the rewards for GFI holders.

Mary | Satoshi Club: Can you tell us how many GFI we will need to hold to participate?

Alex: Just a little, may be 1GFI or 2GFI.

Mary | Satoshi Club: Btw, there is one more project with GameFi name on the market😀 Do you have any relationship with it?

Alex: Unrelated. We‘re Gamefi Protocol.

Mary | Satoshi Club: Oh, got it😀

Gold Rocket | Satoshi Club: Thanks for the clarification!

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

Alex: OK.

Q2 from Telegram user @Jamesxmen:

GameFi intends to increase their community by an unique referral program. Can you give a brief introduction about your referral program? I noticed, GameFi referral program implement in two ways: in GSwap & GMiner features. What is the return rate per invitee on both features? How much should a invitee invest in order to receive referral rewards from both features? Is there any kind of limitation for referral system like minimum number of referral to withdraw rewards? What are the rules & conditions you promulgate in referral program?

Alex: The platform has a simple and fair referral program.
The platform provides an opportunity of referral to maximize brokerage, by which the referrer can invite friends to register through the referral link and get rewards from the referral program.

Referral rewards can be obtained from GSwap Farming and GMiner:

  1. GSwap Farming Referral System. The referrer can get up to 5% return from the invitee’s GFI income. When the invitee withdraws the GFI tokens obtained by GSwap Farming into the wallet, the referrer’s reward will be visible and can be withdrawn from the referral account.
  2. GMiner Referral System. The referrer can get up to 10% return from the invitee’s GFI income. When the invitee withdraws the GFI tokens and Game/De-Fi tokens obtained by GMiner to the wallet, the referrer’s rewards will be visible and can be withdrawn from the referral account.

Gold Rocket | Satoshi Club: Not bad👍

Mary | Satoshi Club: So, they will get rewards in GFI, right?

Alex: Of course, and if the referrer has a large number of customers, the rewards will be substantial.

Mary | Satoshi Club: Also, which currencies will the users be able to use when they will participate in your future IGO?

Alex: GFI/BNB/BUSD/USDT

Mary | Satoshi Club: Good choice😀 Thank you for your answers! Ready to go to the next question?

Alex: OK.

Q3 from Telegram user @yellowchamp:

I found out that Gminer and NFT is coming soon in Gamfi Network. So can you share an overview about the Gminer that you are going to launch? How does Gminer work? What are the pros and cons of Gminer? As we know NFT is so popular in the market, what special characteristics or entity will Gamefi NFT bring to the market? What kind of NFT will you be focusing on? As NFT is popular, what kind of marketing strategy will you deploy to attract some investors or collectors of your NFT? Do you plan to collaborate with some established NFT marketplace to help you market your NFT items? Thank you.

Alex: Gminer: The Gamefi Protocol can help most ordinary player users who lack professionalism and limited time, as well as users who are interested in Gamefi, through GMiner to efficiently configure users’ digital assets into different Gamefi, and cooperate with professional players to obtain maximum benefits.

NFT: Users can freely trade the Game NFT assets.

Our business strategy pays more attention to the layout of game NFT assets. The platform will rely on the highly playable games successfully released by Gamelist, jointly issue game NFT assets, and allow users to participate in game NFT mining, game NFT transaction-mining, and participate in the fun and wealth brought by the game itself.

Now you can see the demo. Some functions of the platform will be officially launched in October, and all functions will be gradually launched in phases.

Gold Rocket | Satoshi Club: Thank you for the answer!

Mary | Satoshi Club: When will your platform go live?

Alex:

Website: https://gamefi.ai/
Gitbook: https://gamefi-protocol.gitbook.io/gamefi-protocol/
Twitter: https://twitter.com/GamefiProtocol
Medium: https://medium.com/@gamefiprotocol1
Facebook: https://www.facebook.com/GamefiProtocol/
TG Channel: https://t.me/GamefiProtocol_Announcement
TG Global Group: https://t.me/GamefiProtocol
Github: https://github.com/gamefiProtocol/gamefiProtocol-contract

Mary | Satoshi Club: Thank you! It’s clear now👍 Ready to jump to the next question?

Alex: OK.

Q4 from Telegram user @kimzyemma:

Recently, you announced your first airdrop worth of $2000 in GFI token to be distributed to the eligible participants using your Telegram Bot to participate. How many winners will be selected and how will you consider the winners? Are you going to make use of first-come-first serve or winners will be selected randomly? If 1% of maximum supply is allocated for Airdrop (2,287,058) and just 2000 GFI will be given out for the first airdrop, how often will airdrop be occurring in your project before reaching the maximum allocation?

Alex: We will implement the airdrop plan strictly in accordance with the plan announced on Twitter, and the specific algorithm of the airdrop is fair and random. The maximum number of airdrop is 1% of the total GFI.

Gold Rocket | Satoshi Club: Sounds good!

Mary | Satoshi Club: Can you share your plan with us? How often you will have such kind of airdrops? Will they be regular or random?

Alex: We will post all airdrop plans on Twitter, thank you for your attention.
Twitter: https://twitter.com/GamefiProtocol

Mary | Satoshi Club: We will stay tuned 😊 Thank you for your answers! Ready for the next question?

Alex: OK.

Q5 from Telegram user @Cheriemike:

The GFP protocol supports GFI holders to form GFP-DAO spontaneously to conduct community governance of Gamefi Pool. My question is, what is the minimum/maximum amount a user needs to hold to participate in a GFP-DAO? Will governance be open to all or those who hold higher amount of $GFI? Will there be any user’s incentives to those who participated in the voting, and will each one receive same rewards or rewards will be distributed differently depending on the amount each users hold?

Alex: The Gamefi Protocol supports GFI holders to form GFP-DAO spontaneously in order to carry out the community governance of the GameFi Protocol. GFP-DAO implements a democratic system of 1 vote/1 GFI.

GFP-DAO can be decided by voting on:

  1. The rule setting of each function of GSwap;
  2. GMiner project’s admittance into/rejection from the pool;
  3. Whether the Gamelist project should be online;
  4. Whether the new gameplay of Lottery/Grab bag should be online;
  5. Revision and improvement of GFI certificate economics;
  6. The strategic planning of the GameFi Protocol;
  7. More modifications and improvements of rules.

And users who hold GFI that participate in staking can get rewards, so the more GFI they hold, the more rewards for staking.

Mary | Satoshi Club: What is the minimum amount and what is your governance system? 1 token=1 vote?😊

Alex: Anyone holding GFI is eligible to vote.
Specific voting rules, such as 1/2 or 2/3, will be negotiated based on community opinions. 1 vote/1 GFI.

Mary | Satoshi Club: Gotcha😀

Gold Rocket | Satoshi Club: Thanks for your answers! Ready to proceed to the next question?

Alex: OK!

Gold Rocket | Satoshi Club: Btw last of this part😊

Q6 from Telegram user @Jmagsss:

Gamefi Explorers are the so-called “Investment and Research Team” within the Gamefi Protocol ecosystem. They provide research for high-quality and promising Play-2-Earn project that are built under the Eth, BSC and HECO networks. The best part about this group is that, anyone can be part of it. Anyone can send their suggested project to be featured on Gamefi Protocol. Each selected project will compensate that sender with a whooping 1000 up to 10,000 USD reward. It would be a shame if I won’t participate. So can you tell me how to join this program? Where can I send my suggestions of prospect projects? Also, what will be your criteria for determining the winning project to be featured on Gamefi Protocol?

Alex: We welcome anyone with rich blockchain experience and gaming experience to join our community, and welcome everyone to recommend excellent projects via Telegram or official email.

We will build DAO to judge projects based on different public chains, wallets, single or multiple token systems, game rules, and token economic models (Tokenomics), etc.

Gold Rocket | Satoshi Club: Thanks for your answers!

Alex: Thanks all.

Mary | Satoshi Club: Rewards will be payed in USDT or which currency? Did you already get some projects submitted?

Alex: Rewards will be payed in USDT or GFI.

We have received strong support from several listed game companies and will jointly launch the popular Gamefi.

Gold Rocket | Satoshi Club: Now get ready for the most impressive part of our AMA.

Mary | Satoshi Club: And live part is almost here😃 Ready?🚀

Alex: Ready.

Mary | Satoshi Club: Let’s go🚀

Part 2 — live questions from the Telegram community

Q1 from Telegram user @captainprice111:

What is the creation story of the Gamefi project? Secondly, what kind of shortcomings did you see in the market or what did you want to fix that attracted you to create the Gamefi project? Thirdly, what are the most lethal and favorite features of Gamefi that can distinguish it from other projects?

Alex: Our team has rich experience in game development and project operation, with strong execution. As a Gamfi aggregation platform, we will authorize many high-quality games to launch (IGO) on the platform. So the games launched (IGO) on our platform are not only reward based games, but also games with high playability. At present, the track is still in the blue ocean.

We have received strong support from several listed game companies and will jointly launch the popular Gamefi.
Investment institutions and industrial capital provide sufficient funds for project development.

Q2 from Telegram user @Zohaya:

Is an Ambassador Program in the works for you? If that’s the case, how do we go about submitting an application?

Alex: Our community will be composed of Rewards developers who participate in the Gamefi Protocol ecosystem- Gamefi explorers, Gamefi professional players, code contributors, bug diggers, etc. Of course, they need to hold a little GFI.

Everyone can see that our incentive mechanism encourages people with specific blockchain knowledge to join the community as much as possible.

Q3 from Telegram user @victorogb:

Gamefi token GFI utilizes deflationary mechanisms of Repurchase and Burning. How is this process efficiently done, since Gamefi has a repurchase fund pool? What percentage of this pool is used for the repurchase activity of GFI tokens,? And how often will Gamefi carry out these token burn operations?

Alex: About 80% of repurchase fund pool is used for the repurchase activity of GFI tokens. The frequency of repurchase will be determined by community voting.

Q4 from Telegram user @JoanaZ:

The amazing thing about games is that they are able to attract any type of user (with or without experience in Crypto). So Gamefi has considered this possibility and you built your project user friendly for beginners?

Alex: This is an important feature of our platform. The games launched on our platform are not only chain games, but also have high playable performance to allow most real gamers to participate.

Q5 from Telegram user @alberto_vzla:

I liked that you said “Gminer: Gamefi protocol can help most ordinary gamers users who lack professionalism and have limited time”. Do I have to pay for Gamefi if I want to receive this training to be a professional? How much should I pay?

Alex: Becoming a professional player and joining us does not need to pay, but professional skills are required.

Q6 from Telegram user @Sourava12:

There are many NFT gaming platforms in the market which adopt “Free to Play and “Play to Earn model”. In Gamefi I read about Everyone to Earn (E2E) model . Can you tell us more about this new model?

Alex: Gamefi Protocol is the first Gamefi mining pool protocol. It aims to build a Gamefi aggregation platform to provide users with a low-threshold way to invest in Gamefi. In addition to the basic services of game guilds, Gamefi Protocol also has a variety of innovative revenue models such as Machine gun pool, farming (liquidity mining), and Gamelist (IGO),which provide users with a wealth of value capture methods.

We believe that Gamefi, as the entrance to the Metaverse, is an important carrier for humans’ future social, entertainment and even work, and a new digital world in which everyone will participate.
We’ll become a Metaverse aggregate platform and trading platform that everyone can play and earn.

Q7 from Telegram user @JaviSuBs:

Gamefi I don’t have GFI tokens, where can I buy them and what would be the benefit and use that I can give the token, what is the function of the token within Gamefi?

Alex: Our project has passed Certik’s audit. We will also establish a Risk Protection Fund to respond to emergencies.

Q8 from Telegram user @centoscu:

I’m wondering if there is any Referral System on Gamefi Protocol for people to invite friends and family to join it?

Alex: We will launch a project recommendation system to facilitate recommenders to recommend high-quality projects and get rewards.

Q9 from Telegram user @sweetdoge:

Will it be possible to get GFI token rewards while playing the games and also can I earn more GFI token rewards by staking?

Alex: Of course, we have cooperated with listed game companies and will launch high-quality games on the platform. Any player who purchases game NFT assets will receive GFI rewards while playing the game.

Q10 from Telegram user @Shadnan31:

Hello sir, can you please tell me, how old is your project? What are the major plans ahead? Could you show to us an image of your roadmap?

Alex:

Q2 2021:

  • Build a core team
  • Set the project positioning
  • Determine the economic model

Q3 2021:

  • The official website
  • White paper
  • GSWAP Farming
  • GSwap Stake
  • GMiner
  • Game List (IGO)
  • Referral System

Q4 2021:

  • GSwap trading
  • GSwap Launchpools
  • Lottery/Grab bag
  • Launch Bug Bounty

Q1 2022:

  • GFP-DAO
  • Expand GameFi Explorer
  • Expand GameFi Game Guild

Our plan is to launch on PancakeSwap on September 15th.
Investment institutions will be disclosed in the next few days.

Part 3 – Quiz Results

As usual, for the third part, Satoshi Club Team asked the chat 4 questions about the crypto project. A link to a Quiz form was sent into the chat.

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