Date : 10 May 2021
Host : HunterX & GemFlair
Guest: Defi 11 Team ( Tushant Suneja — Operation Manager )
Hello! Spykefastians & Blockchain Enthusiastic!
We recently hosted an AMA with Defi 11, on 10 May at 4 PM UTC. So here we are up with the AMA transcript, for those who missed the live session, this post will be a saver & a feeder of knowledge for them.
Round 1 — Introduction Questions Asked By Spykefast
HunterX — Q1. Kindly give brief introduction about yourself, Crypto experience and your role at #Defi11?
Tushant Suneja — Hi everyone! Tushant Suneja this side , I am Operation Manager @DeFi_11
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.
DeFi 11 is the world’s first completely decentralised gaming ecosystem .
Gem Flair — Good to know about you.
Yeah we have seen so many Gaming + Defi projects in the past 5–6 months
Gem Flair — Q2. Let’s talk in detail about #Defi11 project. What are the main features of the project?
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.
We are completely Non Custodial. We don’t store user’s private key or any information with us. The User has complete control over the platform and hence it is totally secured
Gem Flair — Q3. What are the major utilities of holding the #D11 token? How does team plan to enhance it value so as to attract users onboard?
Tushant Suneja — Firstly, talking about the D11 staking module, we have 2 different staking mechanisms for our community users, they can directly stake their D11 tokens on the application and earn huge rewards in the form of additional D11 tokens and some initial drops of DeFi11 governance tokens as well!
While we will soon be launching a LP staking program too for the users where they can stake their Defi11 LP tokens to earn huge rewards.
And the best part is, this is just possible via your mobile devices only inside the app. No need of hefty Web Interfaces. Being lazy is okay here :P
Now, taking about the sustainable token revenue model — 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.
Sorry it’s takes a lot of time to answer such good questions!
HunterX — Some excellent use case of the D11 tokens.
Tushant Suneja — Yes it’s would be the Supporting system for maintaining perfect Harmony in the app
HunterX — Q4. I find Defi11 is one of the few projects with a live app before the start of trading. Since when the project development has started? How has the response been so far?
Tushant Suneja — The reaction so far was really overwhelming !! We had 1500+ downloads in less than 10 mins.
We were completely stunned and taken aback by the response . Like it was insane honestly, just launched the alpha for the application and had a real good response from community. Still sitting on over 7000+ downloads in just 36 hours. And it is just the alpha that we did, the complete application is yet to come.
HunterX — Super stuff.. Unfortunately IPL had be to postponed midway
Tushant Suneja — In terms of milestones, we are literally running ahead of our panned roadmap. All credit to our hardworking team, working day in and out.
We successfully closed our Seed and Private fundraising rounds with some great investor backers.
Also, launched our alpha application for android users and got a real good response with that.
Next is our Dual IDO that is scheduled for end of May, official announcements for the dates and launchpads will be coming soon!
HunterX — Otherwise huge user and fanbase..
Tushant Suneja — Yeah and you won’t believe all the good leagues in football are also getting over soon😂
HunterX — Amazing work team. 👌🚀🚀
Yes.. We are towards the end of all major leagues. 😅😅
But sport is an unending event.
HunterX — Q5. How is #Defi11 different from other competitors? Would the project limit itself to Cricket only?
Tushant Suneja — We don’t have any straight competition . We do have some in stalking and other features. But there is no one who has Ecosystem like ours.
That is why DeFi11 is the World’s First Decentralized Fantasy Gaming Ecosystem.
We weren’t limiting ourselves to crickets. It’s just it was an Alpha version of our App and we wanted to test what’s the response of our app
We are pretty amazed that the users liked it pretty much!!
HunterX — Congrats to the team for building such a great product.
Tushant Suneja — Soon our Beta version will be out. And then users would be getting access to limitless opportunities just in a single click
HunterX — Q6. What major events can we expect in the 2021 #Defi11 Development Roadmap? Any details related to Public sale?
Tushant Suneja — I can’t disclose anything as of now. If the CEO was around. Maybe he would have given you a tease😂
HunterX — 🤣🤣
Tushant Suneja — But I can’t tell you we are doing great on our roadmap and all the achievements are coming in advance
HunterX — Ohk. We will leave this one for now. Maybe we can ask in the official group itself.. 💯
Tushant Suneja — But the one thing I can let you know is
Stay with us till the end of this month
Big surprises are coming soon!!!
DeFi11 is for the community and by the community. Special prizes for all the loyal app users and those who joining us now . Get a early bird benefit!!! So it’s like Onboarding till we reach the moon.
HunterX — Sure.
Round 2 — Questions Asked on Twitter & Telegram
Sun — I noticed that Defi11 is focusing on NFT features, as we know NFTs have special utility as collectibles and game bonuses. So I would like to ask Where Defi11 see future evolution of NFT features and capabiIities in the next few years?
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 .
We are completely Non Custodial. We don’t store user’s private key or any information with us. The User has the complete control over the platform and hence it is totally secured
Charles Jordan — Currently there are many Blockchain that are growing rapidly such as BSC, Polkadot, Polygon, Eth etc. Why did you choose to build ArGo on the Arweave blockchain? What benefits do you get?
complete?
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.
Hector Bell — 🪐 How the demand of your token will increase in the future? or what steps would you take to increase the demand?
Tushant Suneja — 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.
CLOSING REMARKS:
HunterX — Thanks @tushant77… For your time and efforts
It was pleasure having you here.
Vad Tycker Du? — Interesting project. Let’s see how they manage to deliver! And also when they announce the time for launch
Gem Flair — Thanks @tushant77 for AMA.
On behalf of all Spykefast members, I wish you and your team all the best for timely achievement of all milestones as per the roadmap.
Tushant Suneja — Thanks to all of you for being such good listeners and thanks all the SpykeFast members for being such a good host for tonight
Important Links
1) Defi11 Website : https://www.defieleven.com/
2) Telegram : https://t.me/joinchat/I3tuTErAaD26rD17
3) Twitter : https://twitter.com/defi_11
4) Spykefast TG : https://t.me/spykefastofficial
Contact Spykefast Group (TG Members — @realsch & @Gem_Flair) for promotions and AMA!!
