AMA TRANSCRIPT — SPYKEFAST x DEFICLIQ

Date : 10 OCT 2020

Host : HunterX , GemFlair & Groot

Guest : Shantanu , CEO & Founder of Deficliq

Hello! Spykefastians & Blockchain Enthusiastic!

We recently hosted an AMA with Deficliq , on 10 OCT at 4:30 PM UTC . So here we are up with AMA transcript, for those who missed the live session, this post will be saver & feeder of knowledge for them.

Round 1 — Introduction Questions Asked By Spykefast

Gem Flair — lets start by introducing yourselves. Your experience in crypto and what led you to start #deficliq project?

Shantanu — So I am the CEO and founder of deficliq and as a ceo of a startup I basically handle and monitor most department of the project but my main expertise is Marketing and team management .

Regarding the generation of idea , I came to know about blockchain and cryptocurrency by one of my friend. Initially I used to see it from trading and technical point of views as I was not aware about much about the financial system then and as the time grew I got fascinated by the idea of how it can change the existing centralised financial system and from there I thought of being a part of this change.

So with deficliq I am trying to do that !Regarding my experience in crypto,I have been trading, investing, researching a lot about projects since 2017 .

I have invested in more than 30-40 projects till now 👍

So deficliq is the first company to provide both collateralized and uncollateralized loans in both p2p and traditional ways with more features like DAO, staking, Token Burn ,interoperability in one place on polkadot.

HunterX — What can Deficliq do that no other projects can do in the Defi Space ?What are the key features of Deficliq ?

Shantanu — No project is offering Everything what we are offering whether it’s p2p + traditional or it’s collateral+uncollateral .That too using polkadot.

So basically we even value people who have less funds like 30-50$.

If they want to lend or borrow on other protocols on ethereum then transaction fee will b more than their transaction amount.

HunterX — What are the usecases of $CLIQ token in your ecosystem ? What is your strategy to make the $Cliq token more valuable in future ?

Shantanu — Token utility 💥

Regarding value,we have enough utility for $cliq so we just need to focus on bringing people to our platform 👍.

HunterX — Can you please give us an overview of your tokenomics? Does it include any scarcity paths such as staking, token burning program etc. ?

Shantanu — We have staking + burn as

well 🔥.

https://medium.com/@deficliq/cliq-tokens-and-economics-428edc9cb711

HunterX — Can you please tell us about Deficliq and Ferrum partnership? Which kinds of benefit will Ferrum serve to Deficliq & vice versa?

Shantanu — U will get staking reward for just Staking on the ferry staking platforms .

Partnership will not only help us in just making the staking possible on their platform but it also gives exposure to both the projects which is highly necessary in every market.

https://medium.com/@deficliq/deficliq-partners-with-ferrum-network-to-integrate-proprietary-liquidity-options-6da5c2473c0b

Gem Flair — What’s progressive plan Deficliq have to ensure that the project remains relevant & valuable in terms of adoption and use cases in the next 1 year ?

Shantanu — We are not only having plans for next 1 year but we have the complete strategy as how to keep it relevant .

Our major plan is to bring users to our platform for which are targeting many major countries through the main crypto Group in those countries .

We have big Marketing and business allocation which will be used to make sure we bring people to our platforms .

We are also talking with various business developers and projects with which we can collaborate .

Charlie shrem on its boards as a Stregatic advisor https://t.co/XjFfoGVJGB

HunterX — Is there any ETA on listing?

Shantanu — Stay Tuned ,any reply to this will raise lots of speculations 😉

Round 2 — Questions Asked on Twitter & Telegram For Deficliq

Q1: By @Tsheljabinsk - What happens in case a loan is undercollateralized and the borrower ultimately decides not to pay it up. Who takes the risk in this case? Which tokens do you plan to offer to be collateralized and which tokens can be loaned?

Shantanu — We will publish the article and more info on how u collateral loan will work but one thing is for sure ,lender will not loose any money in the process .

Q2: By @spectrej - You recently acquired Charlie Shrem as a Strategic Advisor for Deficliq. He surely has a lot of expertise from i.e. being a core member at the Bitcoin Foundation but how exactly does Deficliq intend to utilize his expertises within the highly competitive DeFi space? Most of the projects he worked with before are not DeFi related after all.

Shantanu — Yes so first of all we have to wait few weeks to get Charlie appointment .

In that conversation we told him about our idea ,what we have done till and what's our long term plan with full strategy to accomplish the plan and many other things as well .

He had also some questions from us which we got him answered and that was the part which got him really excited .

So basically it's the idea and our vision which he wants to be part of .

So as we all know he is a core member of BITCOIN Foundation and has been in the crypto space since beginning so as he says there is no company in this space which he doesn't know or which he doesn't have access to .

He is helping us to connect with some great people in the space who matches our vision ,we also have few calls from time to time to discuss stuffs and how things are going and how we can make it better.

Q3: By @MrEnvyme- What plans do you have to implement in the lending market that has not already been deployed in other projects?
There has been google form made available for potential investors to get your token, How fair will the allocation of token be?

Shantanu — 1. We are implementing p2p+traditional ways of lending in both collateral and uncollateral option which no other protocol is doing .

2. Token sale will b completely fair and there won't be any bonding curve where bots can only buy neither there will b only allocation made to influencers.

As said earlier we value investors with low fund 👍

Q4: By @CvalultF - What kind of limits do you have for individuals willing to take undercollateralized loans? Can a user take multiple loans from different lenders?

Shantanu — As said earlier we will reveal uncollateral loan info later .

Limit depends on users history and many more things .

If anyone is thinking to take big loan initially and run away then that won’t b possible.

Q5:- By @Bunny0786123 - Security is most important in DEFI project because many defi projects hacked recently like BZRX , Balanacer , dforce etc. What technology you applied to make Deficliq more secure ?

Shantanu — We have technical paper coming which will be based on all these technical questions .

But as everyone says nothing is 100% secure .. NOTHING but we are trying to make this the most secure so that no one can loose even their penny.

Round 3 — Open Telegram Chat questions

Q1: By L Valerievna — Why has Deficliq opted for an off-chain governance, considering thet on-chain governance in general has more advantages over off-chain? How does it benefit your ecosystem?

Shantanu — Given the high costs of on chain voting ,we have designed an off chain governance voting mechanism for our community .

As we have said we believe in the true power of decentralization so we feel it right not to have some centralised governance body and instead the community can participate in product building decisions.

Q2: By Aleksandr — You’re having a public sale whitelist on the 13th but we still haven’t received much information regarding the amounts to be sold, at which price and what kind of limits are there for individuals to participate with. Could you enlighten us further about this matter? Are we required to do KYC to participate?

Shantanu — Sale details will be Announced soon .

Yes,kyc will b mandatory as we want to follow regulations as well .

Q3: By Cao — Are you planning to promote your project in different countries, where English is not good? Do you have a local community for them to better understand your project?

Shantanu — Ofc ,we are doing AMA and Promotion in many regional Groups.

U will see us doing ama and Promotion in many groups in 2-3 days

Q4: By El padre — I read that your tokenomics are deflationary and a portion of the tokens will be burnt with each transaction while part will be given to stakers. Could you please tell more about the percentages of the burns / transaction and what other kinds of value drivers are there for the CLIQ tokens?

Shantanu — So basically we will burn a major part of transaction fee that will be generated in the deficliq ecosystem.

Q5: By m bars — One of the goals that Deficliq is trying to achieve is to offer undercollateralized P2P loans. Would I therefore as a lender take a huge risk of a possible non-payment of the loaned amount, considering that you’re also endorsing for anonymity, or how does the undercollaterization work in P2P loans?

Shantanu — Uncollateral loans don't work like that.

It's not like u can take a big amount of money from the platform and run away giving a huge loss to the lender .

Q6: By Basta — What kind of factors made you build the Deficliq ecosystem on the Polkadot blockchain? After all, it’s not yet so widely adopted within cryptocurrencies. Will your P2P lending platforms be cross-chain compatible to for example ERC-20 tokens or just Polkadot tokens?

Shantanu — So basically just few months back people who was not part of 2017 would not have idea about this crazy gas fee on ethereum .

But now people can see how it's difficult for people who wants to make smaller transaction .

So using polkadot we will make it easier for small investors who wants to deal in few $ as a person won't pay 50$ gas fee to take 50$ loan .

With polkadot people can also interact with different defi platforms and use liquidity available there .

As always said we value small investors.

Q7: By pretty boy — When countries start accepting cryptocurrencies, which direction will #Deficliq develop? What is the target that #Deficliq will aim for in 2020 and long term ?

Shantanu — Please check our roadmap

https://www.deficliq.com/Deficliqpitchdeck.pdf

Q8: By Cao — What is your strongest advantage that you think will make your team leading the market? In contrast, what is your weakness? How do you plan to overcome it?

Shantanu — Our strength is that we are making things easier for our users by saving their time .

Once an user has visited and used our platform they won't be required to go to other platform as we provide all the defi options in better and easier way .

Long term of a company is decided by whether they can see what user will want in the future and we know that everyone wants and will want to save their time and do things in quicker time .

Also companies which are providing certain things in defi right now will start adding more features and we will have those features before them .

If we have known our weakness then we would have already worked on it .

So we haven’t found that yet 😄.

Q9 : By Basta — Earlier today you released sneak peaks of your P2P lending & borrowing platform. They look rather identical to Mantra DAO’s one with similar buttons & colors. You could be considered rather as competitors to each other but do you have some link to them besides being Polkadot -based projects or what is this copy UI about?

Shantanu — Thanks for asking this .

Just fyi we have no idea as how their platform looks like and it's nothing more than a coincidence that both looks same though I haven't seen theirs yet .

Regarding color and UI is concerned ,the whole platform and each design on the platform is designed keeping in mind the color of logo .

From logo ,website color is decided and whitepaper as well...u can see we have used the similar colors in all part like website, whitepaper,pitch deck .

This is how UI works and again I am saying it's nothing more than a coincidence .

We could not have used any other color than that as our remaining other things have same color patterns so changing platform color will look bad designing .

Hope it's clear for everyone

Closing Remarks -

HunterX — We really thanks you for this..

Gem Flair — Thanks @shancliq for giving us an opportunity to interact with you 🙂

Shantanu — Thank You Guys. Please join our tg Group @deficliq for more info

Important Links -

1) Deficliq Website : https://deficliq.com

2) Twitter : https://twitter.com/deficliq

3) Telegram : t.me/deficliq

4) TG ANN : https://t.me/deficliqann

5) Spykefast TG : https://t.me/spykefastofficial

Contact Spykefast Group (TG Members — @realsch & @Gem_Flair) for promotions and AMA!!

Thanks again. Stay safe and Keep Printing BTC/ETH/USDT (whatever you like) !

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SpykeFast is a Telegram group operated by two well-known #Crypto Twitter personalities @Gem_Flair and @realsch1. TG group link: t.me/Spykefastofficial

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Spykefast

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SpykeFast is a Telegram group operated by two well-known #Crypto Twitter personalities @Gem_Flair and @realsch1. TG group link: t.me/Spykefastofficial

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