AMA TRANSCRIPT — SPYKEFAST x ZENFUSE
Date : 13 OCT 2020
Host : HunterX , GemFlair & Groot
Guest : Yuriy , CEO & Founder of Zenfuse
Hello! Spykefastians & Blockchain Enthusiastic!
We recently hosted an AMA with Zenfuse , on 13 OCT at 7:30 AM 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.
Brief Introduction to Zenfuse : Zenfuse is the ultimate solution for cryptocurrency trading with built-in connectivity to major exchanges, a next-gen toolset, analytics, portfolio management, news aggregation, set within an ecosystem extensible by developers.
Round 1 — Introduction Questions Asked By Spykefast
Gem Flair — Hii @nightcoder , lets start by introducing yourselves. Your experience in crypto and what led you to start #zenfuse project?
Yuriy— I have a web-dev background, was building websites since I was 13 years old, I love to work with code and with UI/UX.
I came to crypto in 2017, bought my first bitcoin at $1200 and sold at $4500 few months later, thought that I’m a great trader 😀
Then I started to read books about technical analysis, tried different ideas, had good moments and bad moments until I found the right strategy for myself.
After all those sleepless nights I decided to create a platform that will make my trading easier, more efficient and safe, that’s how Zenfuse idea was born.
Before Zenfuse I worked in F2Pool.com and stake.fish as Creative Director 👨🎨
HunterX — What is Zenfuse? and where is it based at and how many team members?
Yuriy — Zenfuse is the swiss-knife for every trader.
Features like Analytics, Panic-sell, Drag'n'Drop Rebalancing, OCO Orders, Trailing stops, Portfolio Groups, Shareable Portfolio, Goals & Achievements, News Center, Events Calendar and others, accessible from one place can significantly boost your efficiency and profits.
***
Our team members are located in Europe, Russia, and Asia (Thailand and Korea). 9 team members for now 🙂
HunterX — What makes Zenfuse different from the rest and who are your main competitors of Zenfuse ?
Yuriy — We’ve made a comprehensive research, we have many competitors, but it’s actually a good sign. It means that the market is full of opportunities. I would say that our main competitors are analytic tools like Blockfolio, Delta, CoinTracking, trading terminals like 3commas, Coinigy and TabTrader.
Our approach is to provide a super easy to use UI, and I think we can aquire a good percentage of the crypto users by doing so.
Gem Flair — What exchanges will Zenfuse initially integrate upon launch ?
Yuriy— Binance, Bibox, Bitfinex, Poloniex, Bithumb, Huobi, Kucoin, OKEX, Bitstamp and probably a few more
We’re planning to cover all exchanges that have API’s, so expect 50+ more in a long-term.
HunterX — What are the usecases of $ZEFU token in your ecosystem ?
Yuriy — The Zenfuse (ZEFU) token is the unit of exchange within the Zenfuse ecosystem. The primary use case of the ZEFU token is to gain access to the platform and enable all features. There are other use cases which are listed below:
Use Case 1 - Accessing the Zenfuse Platform
Use Case 2 - Purchase items from the Zenfuse App Store
Use Case 2 - Purchase items from the Zenfuse App Store
Use Case 3 - Reward other users for their contributions
Use Case 4 - Zenfuse Secure Gateway API usage
Use Case 5 - Zenfuse Staking
HunterX — Could you please explain the Drag’n’Drop Rebalancing in simple words ?
Yuriy — Rebalancing allows to sell well-performing coins to more more low-performing coins.
https://t.me/spykefastofficial/55747
By doing so you’re increasing your revenue in a long run.
HunterX — How is $ZEFU rebalance different from what we usually notice with index funds? There are projects specialized in this area, is this a functionality of zenfuse big on itself?
Yuriy — In Zenfuse you’ll have both manual drag-n-drop rebalancing + also auto-rebalancing, which works more like index funds.
HunterX — What types of benefits Zenfuse offers to Early Tester ? How can someone become an early tester ?
Yuriy — Please type your email on zenfuse.io and click Subscribe.
Early users will have a lifetime discount, early access to our beta versions and also they’ll recive a special “Early supporter” badge + a unique dashboard theme ;).
Round 2 — Open Telegram Chat questions
Q1: By Smirnov — Given that through your platform customers will be able to control several of their accounts through various exchanges, it gives definitely requires an additional layer of security on Zenfuse. How do you provide it? Which security mechanisms do you have against hackers?
Yuriy — The Zenfuse system will be additionally secured on a hardware layer. Hardware Security Module (HSM) is a physical or cloud device that manages keys. HSM provides secure storage and generation of master keys. It provides both logical and physical protection of the data by keeping it inaccessible to destructive forces and unauthorized users.
This layer depreciates social engineering attacks by requiring physical access to HSM. The master key will be managed by the Zenfuse team and stored in the HSM.
While we are confident in our team’s talents, part of our budget is assigned to performing prudent additional security audits before each major release.
Q2: By Bullen — What is the utility of your native token? Also, what special features do you have or plan to implement that keeps you ahead of your competitors?
Yuriy — Use Case 1 - Accessing the Zenfuse Platform
The user has to stake a certain amount of token to access the platform for the time period the tokens are staked. To unlock advanced features a certain amount of tokens need to be “settled”, “settled” tokens will be burned once a month and lead to a deflationary token ecosystem.
Use Case 2 - Purchase items from the Zenfuse App Store
Third-party developers can develop Zenfuse and API widgets which can be sold in the Zenfuse App Store. Developers may choose from a number of pricing models (such as free, one-time fee, subscription fee), set a price for their widgets, and receive payment in the form of ZEFU tokens.
Use Case 3 - Reward other users for their contributions
Zenfuse users can share trading strategies and produce content for other traders and investors. Users can ‘tip’ others by sending an amount of ZEFU tokens to thank them for their work.
Use Case 4 - Zenfuse Secure Gateway API usage
Third-party developers can create standalone cryptocurrency apps with the Zenfuse Secure Gateway public API. Users of these developed apps may be charged ZEFU tokens for premium features, subscription or in-app purchases.
Use Case 5 - Zenfuse Staking
Approximately twelve month after the launch of the platform, staking will become possible for users who used the platform at least three months in a row. To reward them for their loyalty, the tokens which they stake to access generate revenue. Staking as a means of loyalty not for speculation.
Our ecosystem is going to bring a lot of usecase for our token, developers will be able to create applications among our platform.
Our recent partnership with Blockpit is one more usecase for ZEFU btw 🙂
https://medium.com/@zenfuse/blockpit-zenfuse-partnership-announcement-2c5374820b99
Q3: By Hieu — What is your core product? What is your development vision and direction for the future?
Yuriy — Our core vision is the trading terminal, but we’re thinking about making our own exchange, and issuing a crypto card, it will allow you to spend your profits instantly right after you made them
Q4: 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?
Yuriy — Yes, we’re hiring more team members to be able to reach as many markets as possible.
Q5: By SP Piyush — Which area are you focusing on at the moment? (DeFi, Stake,Dapps..) and what is your goals in this year ?
Yuriy — Our goal is to make a CEXy DEXy terminal with the most important features for a trader
Q6: By Yuriy — If anybody thinks your project really likes a scam project, and they can’t trust this project. How do you make them believe in your project?
Yuriy — We’re working as hard as possible and delivering as much as possible.
Btw, last time I slept was Sunday 😄
Q7: By Artist — No project can survive on its own. Can you tell us some of your partners and who you plan to collaborate with, in the nearest future?
Yuriy — We already partnered with Firm9Zero to reach Japanese and Korean markets (we got more than 3k fans there already), and with Blockpit – the largest European Crypto RegTech provider, to eliminate legal uncertainty when trading crypto assets and keep traders safe when confronted with tax authorities.
Our next partnership is Chainlink, other will be announced in our channel.
Q8: By Sun — What is the uniqueness of your project that cannot be found in other project. that’s been released so far? And how the demand of the token will increase in the future? or what steps would you take to increase the demand?
Yuriy — We’re super obsessed with design and user experience.
Q9: By Octail — In the bad situation of the Covid-19 epidemic, every industry was heavily affected
Does it affect on the growth of your project team and its ??
What are your plans to turn challenges into opportunities for #project DEVELOPMENTS.
Yuriy — Covid actually made us more productive than ever.
Since it nothing to do in a lockdown besides playing games and working, we decided to dedicate 99% of our time to work 🙂
Q10: By Narendra — What your plans in place for global expansion, are you focusing on only market at this time? Or focus on building and developing or getting customers and users, or partnerships?
Yuriy — Zenfuse is the product needed for everyone involved in crypto and it’s very viral. We got a lot of attention from all countries around the world at once!
Our team is growing very fast, we’re speaking 7 languages already, the website and the platform will be translated to major languages like Chinese, Japanese, Thai, Vietnamese, Korean, Spanish, Italian, German and French. It takes a lot of effort to translate everything and to create a local community, but we’re definitely looking forward to it. Our goal is to make Zenfuse a #1 trading platform worldwide.
Q11: By TK Iam — For API connectivity execution with exchanges, is there a clear responsbility who is responsible for what? Just concerned of a situation of failure / loss of funds but none of exchange and zefu is accountable for.
Yuriy — Our goal is to have our servers close to servers of exchanges to reduce the lag up to 90%, this totally doable.
I’ve spoken to a few big exchanges, they gave us a green light already, we can store our servers in the same datacenter with them.
We’re doing our best to protect our users from such situations.
Q12: By AJ — When chainlink partnership will be announced 🤭🤭🤭
Yuriy — Soon, we’re working on the technical side together.
Q13: By prettyboy — Can you list killer features of ZENFUSE that makes it ahead of its competitors? What is the competitive advantage your platform has that you feel most confident about ?
Yuriy — Most wanted features are:
Panic sell, Global stop-loss, Drag-n-drop rebalancing and Shareable Portfolio
I guess that our competitor advantage is the team full of super experienced people, we’re well connected, we work very hard and we always listen to the community.
Q14: NAFISH — Vast majority of Crypto projects are built just for the sole purpose of amassing wealth for themselves. So, I want to know the value you aim to add to crypto industry that will bring greater abundance to the industry?
Yuriy — One of the reasons why we decided to raise only 1M, despite the huge demand (x30 overpledged) is to show everyone that it’s possible to build a solid platform, which is so needed to the crypto community, which will make our trading easier and more secure.
Our #1 mission is to give, not to take. And that’s what we stick to. We’re working hard to deliver real results.
Please subscribe to our news channel @zenfuse to follow our development.
Q15: By Flying — As you are integrating so many exchanges on your platform. Will it not affect revenue of those exchanges if Zenfuse become succesful in future.? Or how will other exchanges get benefits from Zenfuse integration?
Yuriy — Great question.
Did you know that exchanges are super excited about zenfuse because we’re increasing their trading volume, so they can make more on fees?
For example, one simple feature like rebalancing creates 10-20 buy/sell orders at once, imagine how happy Binance will be? 😄
Q16: By Aleksandr — Do the ZEFU token holders have right to participate in governance of Zenfuse and about what kind of things can we vote on?
Yuriy — ZEFU token holders have the right to vote for the future of the company, and it’s our duty to listen to you guys. Company that ignores their users is doomed.
Q17 : By Muhammad Abdul — which types of Industries & userbase your project is mainly focusing on? Do you plan to establish partnerships with local cryptocurrency developers in each country to make the use of the token more global?
Yuriy — We’re thinking about scaling globally by having something similar to franchise model. We’ll have our trusted partners in each country/region.
Spykefast team was overwhelmed with the response of Community Members.
Closing Remarks :
Gem Flair — Great.. I guess you have convincingly replied to each and every question here. 🙂
Thanks @nightcoder for taking time out and enlightened us in detail about Zenfuse.
HunterX — Thanks @nightcoder, all the best for dual listing today. 🙂👍
Yuriy — It was a super professional AMA, such a pleasure being here 🙂
All the best, guys!
Important Links :
- Zenfuse Website : https://zenfuse.io/
- Telegram Channel: http://t.me/zenfuse
- Telegram Chat: http://t.me/zenfuse_en
- Twitter: https://twitter.com/zenfuse_io
- Spykefast Chat: http://t.me/spykefastofficial
Contact Spykefast Group (TG Members — @realsch & @Gem_Flair) for promotions and AMA!!
