AMA Satoshi Club x Cyberfi, August 27th
We were delighted to welcome our guest from Cyberfi. The AMA took place on August 27th, 2021 and our guests were @TesterBott @xync00!
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 questions from the Telegram&Bitcointalk community
Gold Rocket | Satoshi Club: Hello, dear Satoshi Club community! We are pleased to announce AMA with CyberFi.
Alex (Appi): Hey guys
Paul Mont | Satoshi Club: Today’s guests are @TesterBott @xync00! Welcome! Great to have you here!
Gold Rocket | Satoshi Club: Today our guests are @TesterBott @xync00
Alex (Appi): Thanks for Hosting this AMA, pleasure to be here
Gold Rocket | Satoshi Club: Hello and welcome to Satoshi Club
Paul Mont | Satoshi Club: The pleasure is ours Alex! How are you doing today?
Alex (Appi): Great day , sunshine , coming for a nice AMA. how about you ?
Gold Rocket | Satoshi Club: we are very excited about the upcoming AMA and have great memories of the previous AMA last year
Paul Mont | Satoshi Club: Haha, hyper fine, “cyber” excited to know anything about CyberFi and anything new that you have in store for Satoshi Club
Alex (Appi): Yes Geralt gave a good show
Paul Mont | Satoshi Club: Hope you brought us some surprises
Gold Rocket | Satoshi Club: Remind us a little about yourself and the project. Make a little intro
Alex (Appi): Will do my best not to disappoint ^^
Gold Rocket | Satoshi Club: We are waiting for a wonderful show from you
Gold Rocket | Satoshi Club: Tell us please about your position in CyberFi?
Alex (Appi): Sure. So CyberFi is composed currently of two product, the mainproduct that is for now called V2, which is our Asset management Platform . And our Launchpad and Stakepad called Samurai
Alex (Appi): As for Myself, i am currently the Head of Samurai, and directly mainly the Launchpad and stakepad Activity for CyberFi
Gold Rocket | Satoshi Club: What is the essence of CyberFi?
Alex (Appi): What we are mainly trying to do at CyberFi is to bring ease of use for DeFi products
Gold Rocket | Satoshi Club: you are a big boss
Gold Rocket | Satoshi Club: This is very timely. Currently, the user lacks good tools
Alex (Appi): currently we can see the market being really segmented and the average non-crypto geek having trouble to find their way into the DeFi ocean. We are trying to built our platform so that the average person can use and understand easily DeFi
Paul Mont | Satoshi Club: We definitely need ease of use to drive adoption in cryptoland
Alex (Appi): You know where to invite your friends over
Paul Mont | Satoshi Club: Haha yes, and you definitely have my praise for what you’re trying to do guys
Gold Rocket | Satoshi Club: Without a doubt
Gold Rocket | Satoshi Club: Tell us about the benefits of CyberFi. How is it different from others?
Gold Rocket | Satoshi Club: What are you proud of today?
Alex (Appi): I can give you a brief explanation of what you will be able to do on our platform in 1–2 weeks time frame.
Alex (Appi): Use uniswap but without being in front of your computer
Paul Mont | Satoshi Club: Via mobile then?
Alex (Appi): you will be able to trade 24/7 with trading tools, place your orders, go to sleep and enjoy seing your bag growing day by day
Paul Mont | Satoshi Club: Or you mean being able to schedule the trading?
Alex (Appi): Sure, when metamask decides to work
Paul Mont | Satoshi Club: Haha, yeah that would be truly a glorious day
Gold Rocket | Satoshi Club: Of course! Thanks for clarifying. By the way, you have incomparably beautiful Ava
Gold Rocket | Satoshi Club: yes, sometimes there are surprises like today
Alex (Appi): Our platform let you automate your strategy instead of being in front of your computer swaping in the middle of the night
Paul Mont | Satoshi Club: Now this is going to be a pic of “days gone” in the very near future with CyberFi
Paul Mont | Satoshi Club: Great concept!
Gold Rocket | Satoshi Club: Thanks for great introduction, we will have several questions selected for the Part 1. Ready to start?
Alex (Appi): Particularly in these days of volatility. Stop loss order will help metigate the risk of waking up -40 %
Alex (Appi): Sure let’s go
Paul Mont | Satoshi Club: Yes, our community wants to cover several topics about CyberFi and you can definitely help us with it!
Paul Mont | Satoshi Club: Tell me about it, the bear interlude of the past months has been awful… I’ll definitely bring my friends over to check out CyberFi
Paul Mont | Satoshi Club: Okay, here’s the first question for you
Q1 from Telegram User @Jamesxmen
CyberFi platform is engaging on Beta V1 currently. So can user Stake, Trade & Farm $CFI with Beta Version 1? Is it secure? The issue is ,Most projects launch a Beta Versions to grab small fundraise & abondoned the community after that. In this case, How will you convince that CyberFi Beta V1 is a well securable Testnet version? Also along with Beta versions, Project host bug bounty competitions among the community to certify the security. Will you hope to host a bug bounty program or already did you make it?
Alex (Appi): Currently the CyberFi platform that was on Beta V1 has been renamed in V2.
Alex (Appi): We have been testing everyfeatures we wanted to introduce and to stress test as much as possible the last 8 month
Alex (Appi): A lot of sweat, a lot of sleepless night but we are finally seing the light
Alex (Appi): And the next 1–2 weeks will see the final product being live. We go from Private Beta 2 ( that was for our stakers and some whitelisted professional traders) to see a release of the V2 to more people.
Alex (Appi): On the bug side, we spent so long trying to isolated every problem that could occur that we are confident most of them have been identified but as you may imagine, building such a technology is quite an adventure.
Gold Rocket | Satoshi Club: Oh! this is great news! thank you very much for sharing
Paul Mont | Satoshi Club: As you’ve mentioned it, safety is a very felt concern in the cryptoverse. Can we assume that you’ve gone throught audits already (or that audits are bound to come soon) ?
Gold Rocket | Satoshi Club: This is a really fun and challenging adventure.
Alex (Appi): yes we are currently partnering with halborn
Alex (Appi): https://medium.com/cyberfi/partnership-announcement-cyberfi-x-halborn-df979014a6a4
Alex (Appi): We are working together on auditing our products before release to the market, in order to bring trust to our investors and be sure than nothing is shady
Gold Rocket | Satoshi Club: Orakuru is also your strategic partner.
Paul Mont | Satoshi Club: It always feels great when a uber promising project like CyberFi takes the necessary steps to address any potential security issues! Wonderful!
Gold Rocket | Satoshi Club: This is a really very good strategy.
Alex (Appi): Yes we have partner today with Orakuru in order to insure that all our products that needs some accurate data such as price feeds for limit orders, are accurate
Alex (Appi): we don’t want people to place a limit order and buy or sell 1k higher
Paul Mont | Satoshi Club: Haha nono, we don’t want that
Gold Rocket | Satoshi Club: Thanks a lot for the answers
Paul Mont | Satoshi Club: Great answers!
Gold Rocket | Satoshi Club: Do you want to add something or we can proceed to the next question?
Alex (Appi): we can proceed i think it was pretty comprehensive
Q2 from Telegram User @NataliyaKil
While looking for information, I came across SAMURAI by CyberFi, is a full suite decentralized cross-chain crowdfunding platform built for the evolution of DeFi. Could you tell us more about your creation, what set of features is there for the development of DeFi? And what are these levels BUSTA Tier 0, BUSTA Tier 1, BUSTA Tier 3, BUSTA Tier 4, BUSTA Tier 5 and BUSTA Tier 6?
Alex (Appi): oh cool our IDO platform
Alex (Appi): So our launchpad and stakepad platform Samurai was built with the intention to bring additional utility to $CFi and to bring our investors and community some extra $$
Alex (Appi): We built it in order to be cross-chain. Which means we are going to integrate as main chain as possible both on the staking side and the IDO side.
Alex (Appi): We have already ETH and BSC working for launching project, and will have BSC staking ready next week with Polygon integration in a very close future
Gold Rocket | Satoshi Club: I am absolutely sure that today in crypto the winner is the one with the best cross-chain solutions.
Alex (Appi): On the Launchpad Side, we provide allocation to IDO’s for our CFi Stakers.
the process is quite simple, you stake CFi ( the more you stake the bigger your allocation), and you can buy allocation into IDOs
Paul Mont | Satoshi Club: Nice, especially given that ETH gas fees are over the top during this period
Alex (Appi): Right now our current IDO is Busta. A BSC game. Very addictive.
Alex (Appi): https://www.busta.gg/
Alex (Appi): you can test it here
Alex (Appi): tell me about it
Paul Mont | Satoshi Club: I’m kinda addicted to addictive games lol. Will probably check it out at my own risk. Very curious on what it means to “be the house” as well
Alex (Appi): You can either be the house (casino always win) and get some profit from the losers. Or just gamble and see a X 150
Alex (Appi): at your own risk
Paul Mont | Satoshi Club: Thanks for taking care of this!
Paul Mont | Satoshi Club: Ready for the next question?
Alex (Appi): i will leave some information first for people interested in the IDO
Paul Mont | Satoshi Club: Please, this is a great moment (and place) for making announcements
Alex (Appi): Join the Samurai launchpad power by CyberFi.
1/ Stake your CFi to the Samurai Platform (minimum 50). https://samurai.cyberfi.tech)
2/ Contribute to your tier. The more CFi you stake the more you can contribute to the IDO.
3/ Fasten your seat belt and prepare for the moon mission
Website Launchpad/Stakepad: https://samurai.cyberfi.tech/
Telegram: https://t.me/cyberfi_tech
Twitter: https://twitter.com/cyberfi_tech
Buy CFi:
https://app.uniswap.org/#/swap?inputCurrency=0x63b4f3e3fa4e438698CE330e365E831F7cCD1eF4
Alex (Appi): all info here above
Alex (Appi): Ready for the next one
Paul Mont | Satoshi Club: Thank you very much for sharing! Satoshi Club, don’t miss out!
Gold Rocket | Satoshi Club: so I’m in business
Paul Mont | Satoshi Club: Ok, next question in the quiver, now armed and ready to shoot
Gold Rocket | Satoshi Club: Satoshi Club! Pay attention! Great opportunity
Q3 from Telegram User @Cheriemike
In your website I notice that 50,000 $CFI was allocated for a “Transaction Mining Program”.Can you tell us what this program is all about and how $CFI Transaction are mined?For users to participate in the program,is KYC required?Will there be any users incentives to those who participate in the “Transaction Mining Program”?
Alex (Appi): Oh thats a short question
Alex (Appi): This Transaction Mining Program was orginally planned as a form of airdrop for people beta testing our V2 platform at the beginning. We were thinking to launch a public testing around February and to rewards people with a bunch of CFi for the risk they take to lose their fund
Alex (Appi): we changed direction and decided to instead go for a private beta for stakers and professional traders. Inviting over people with years of trading experience and DeFi masters
Alex (Appi): and see how we could together improve the platform before a release to the public in a form or another
Alex (Appi): The idea was to first build the automation and trading tools properly on Uniswap before starting the cross chain integration
Alex (Appi): Cross-chain integration coming in Q4 by the way
Alex (Appi): trading on different dex and chain ? Yes CyberFi
Paul Mont | Satoshi Club: That’s an important milestone coming!
Paul Mont | Satoshi Club: Crystal clear asnwer, thank you
Gold Rocket | Satoshi Club: Indeed CyberFi
Gold Rocket | Satoshi Club: Thanks for your great answers
Alex (Appi):
Paul Mont | Satoshi Club: Moving on to the next question
Alex (Appi): Let’s go
Q4 from Telegram User @andrey_seleznov
Hi CyberFi!I want to ask about the CyberFi unique multichain approach. I read you will enable users to create cross- chain automated complex event scenarios. Venture into BSC, TRON, POLKADOT and other blockchains for a quick event and return back to ETH automatically. This sounds novel and very interesting! Does this mean there will not be permanent CyberFi staking/farming opportunities on other chains? Could you give some examples of the events that will be worthwhile for users to bridge their funds over to other chains and back to ETH afterwards, I assume bridging fees will not be cheap.
Thank you!
Alex (Appi): Talking about cross-chain solutions haha
Paul Mont | Satoshi Club: That is a nice segue
Alex (Appi): Well this is some thing we always wanted to implement. As we want to be the Alibaba of DeFi
Alex (Appi): basically the idea is that we are not really direct competitor to Uniswap, Pancake or other Dexes, but enabler
Alex (Appi): When you will talk to your grand mother and ask her to send you 1k in usdt that she has to buy on pancakeswap and send them to you in erc20
Alex (Appi): she will probably not really get what you say
Alex (Appi): The reason why CyberFi exist in the first place is to really make it easy for the average person to daily trade on all these dexes and cross-chain without having to get a headache optimizing their bridge fee/ swap fee and moving from one platform to another at different time of the day
Alex (Appi): You click 2 button, go to sleep and you are rewarded.
Gold Rocket | Satoshi Club: just killed me by comparing to grandma
Alex (Appi): Purpose is really to bring more people into DeFi
Alex (Appi): on the example side for farming
Paul Mont | Satoshi Club: So Cyberfi basically complements Uniswap, PancakeSwap, QuickSwap and the various AMMs allowing to use the same services in an intuitive yet simple manner, right?
Gold Rocket | Satoshi Club: Mass adoption
Paul Mont | Satoshi Club: Haha yeah, that was a very evocative example
Alex (Appi): we are trying to think on products we will implement into our V2 and eventually benefit from it. As many of you there is some nice farming oppotunity on new chain generally that we are planning to leverage
Alex (Appi): yes we enable these platform to be more understandable for the general public
Alex (Appi): and try to bring mass-adoption through it
Gold Rocket | Satoshi Club: This is a very grateful and necessary undertaking.
Gold Rocket | Satoshi Club: Thank you very much for your answers and clarifications.
Alex (Appi): thanks for these detailled questions
Gold Rocket | Satoshi Club: Ready to proceed to the next question
Paul Mont | Satoshi Club: We have more for you
Alex (Appi): of course
Q5 from Telegram User @yellowchamp
CyberFi had their first AMA here in Satoshi Club last November 10,2020 and you talked about the Alpha version and the alpha testers program and also CyberFi just launches“Alpha Testers Event” but since that AMA was nearly 1 year from now, I supposed that Alpha Testers Event was already finished. I found out in your website that your tokenomics has an allocation for Alpha and Cyber Round . So,can you tell us more about the “Cyber Round” of your platform? How does this Cyber Round works and what positive impacts it brings to CyberFi network? Since your AMA here last year,can you tell us some of the progress and development of CyberFi? What is the latest update on your platform at this moment?
Alex (Appi): Sure.
Alex (Appi): So last AMA if i remember was between the Alpha round and the cyber round.
Alex (Appi): These two round were basically what you could see as a seed round and private round for people to participate in the Launch of our project
Alex (Appi): the Cyber-round was $0.6 per token for a raise of $270,000
Alex (Appi): Since the launch we have been working a lot in the background
Alex (Appi): we have been trying to optimize the asset management platform with most of our devs working on this
Alex (Appi): and trying to bring more value to the $CFi token by building our launchpad and stakepad as previously mentionned
Alex (Appi): it was a year of development basically. We are getting ready for more cross-chain integration and more marketing
Alex (Appi): since we haven’t really touch this too too much yet
Paul Mont | Satoshi Club: Seems quite a comprehensive answer to me, thank you
Gold Rocket | Satoshi Club: by the way, share your roadmap. which milestones have already been completed and what is on the horizon?
Alex (Appi): Sure give me a second
Alex (Appi): Hey, everyone we are starting the AMA now.
I’m sharing our new Roadmap for the next 4m covering most of Q4.
We have big plans for CyberFi and Samurai, check it out and happy to answer your questions!
Alex (Appi): this is what we are planning for the close future. with 1 week or 2 delay or early release
Paul Mont | Satoshi Club: Great to see Covalent integration coming as well
Alex (Appi): Working hard but no time to play hard
Gold Rocket | Satoshi Club: Thanks for sharing
you have an amazing goals
Paul Mont | Satoshi Club: Yes, great! Thank you very much!
Paul Mont | Satoshi Club: This is the last question for this very first part of the AMA, then we’re heading into the LIVE part of the session.
Alex (Appi): yes let’s go
Q6 from Telegram User @highpee
CyberFi is an Intelligent Automation Platform (ITAP) and one of such Intelligent innovation is DeFi Automation Standardisation (DeFiAS). Some DeFi growing projects are forks or each others and some of their contracts are unaudited. How will this intelligent application be deployed to address the chaotic proliferation of DeFi projects yield system and how will it be provide standardised automation of DeFi products that can offer most positive benefits to users? Also you said DeFiAS can run through smart contract and generate brief audits and security checks. How is DeFiAS able to perform audit tool function? How is it able to run automated tests through fork protocols and provide a safe event map for CyberFi?
Alex (Appi): Sure another great question
Paul Mont | Satoshi Club: I concur, Mister @highpee is a master researcher
Alex (Appi): Basically the CyberFi team reviews projects before they are getting integrated. if the project is unaudited or the team is shady we don’t add them to our strategies. Each project we plan to list is reviewed thoroughly by our team. The safety of our users and investors is our main priority.
Alex (Appi): The DeFiAS is able to perform quick audits by searching for specific functions in the smart contracts. I.E: If we find a mint function we review if the minting works as intended.
Alex (Appi): This is not a definitive way to review every protocol, it’s just a first filter to then choose between selected protocols and review them with our engineering team and then add them to our pools/ DeFi strategies.
Paul Mont | Satoshi Club: Definitely easing the review process I reckon
Alex (Appi): We are trying our best to avoid any problem in the future
Paul Mont | Satoshi Club: By the way, do teams that submit their application have to undergo KYC when it comes to the manual review of the process?
Alex (Appi): Oh yes.
Alex (Appi): Everytime we want to onboard project or any add-on, or if we want to run an IDO or open a stakepool as well.
Paul Mont | Satoshi Club: I mean they can be anonymous to the general public by are still identified by you? Or do they have to be public on every front?
Alex (Appi): Every project who wants to collaborate with you needs to KYC to some extent.
Alex (Appi): We collect documents and proceed to personal identification on our side and have some partnership with third party that offer a second protection layer.
Alex (Appi): We do track them on linkedin too
Gold Rocket | Satoshi Club: by the way, is your team anonymous now?
Gold Rocket | Satoshi Club: You guys are dangerous. Just don’t follow my grandmother’s Facebook. She will send me pancakes
Alex (Appi): Right now our team is mainly composed of non-anonymous people, except for Geralt our CEO which remain for the time being anonymous to the public but not on the b2b side
Gold Rocket | Satoshi Club: To be honest, it inspires confidence
Paul Mont | Satoshi Club: Gotcha!
Alex (Appi): maybe a reveal one day
Gold Rocket | Satoshi Club: Now get ready for the most impressive part of our AMA!
Alex (Appi): Community Question i feel are going to be tough
Alex (Appi): be nice everyone
Part 2 — live questions from the Telegram community
Q1 from Telegram User @alamins005
NFT is not just a trend! It is going to rule this decade and innovation has just started. So, with NFT what is CYBERFI future plan?
Alex (Appi): We have some plan to integrate NFT into our platform, you will discover soon that we are really targeting to be one of the Hub for technology and innovation and we will soon come with some nice partnership / IDO and technology integration on the NFT side
Q2 from Telegram User @Silica432
Can you talk about the participation steps of the IDOs ?
Alex (Appi): Sure the steps are as described: 1/ Stake your CFi to the Samurai Platform (minimum 50). https://samurai.cyberfi.tech)
2/ Contribute to your tier. The more CFi you stake the more you can contribute to the IDO.
3/ Fasten your seat belt and prepare for the moon mission
Q3 from Telegram User @Shaa93
How many projects have launched IDO on Samurai Launchpad currently? And what is the advantage of Samurai Launchpad over other LaunchPads?
TesterBot: We have successfully launched over 10 projects. The main advantages over other IDOs are our events like Omiyage (gifts depending on the tiers) and our Stakepad, which brings more utility to our platform.
Q4 from Telegram User @hmdtadel
I wanted to find info about your team and past experiences but I couldn’t find it, where can I find it ?
Alex (Appi): Sure, Geralt is mainly an Entrepreneur with a lot of experience in Hackaton and other crypto related company.
Austin our COO is from the VC side. And have a large experience in incubating new project.
On my side i have a PhD in Economics and have organized multiple event around Asia for Blockchain , such as the Korea blokchain week
Q5 from Telegram User @DF3295
quick question, is CyberFi multichain or with a similar perspective, or not yet?
Alex (Appi): We are currently multichain as we integrated already ETH and BSC, we plan to keep the integration to more chain soon
Q6 from Telegram User @highpee
I read that $CFI grants access to GOVERNANCE function and your GOVERNANCE system will incorporate two mechanisms which are Automation Solution Decision Making and Integration voting. Can you explain how $CFI will be used for governance and how it fit into each of these decision making process? What does Integration voting involves and how is it done?
TesterBot: Hey! Great question! Right now governance isn’t live. But will be soon. With governance you’ll be able to choose what protocols should we add to the automation platform, the reward distribution and more. Also you’ll get to vote on other things like new tiers and such.
Q7 from Telegram User @centoscu
I don’t do buy and sell and trading but I do investing for long term so why should I invest long term on Cyberfi?
Alex (Appi): You should because other people trade, buy and sell. which bring more volume. We also have great utility for CFi that will help you benefit from gains. Staking brings you 17% APY and the possibility to participate to great IDOs too
Q8 from Telegram User @coinresearcher
I’m wondering if Cyberfi has any buyback events planning for the future to increase token price?
Alex (Appi): This is something we are considering and may or may not happen. Time will tell. please stay tuned
Q9 from Telegram User @KASG95
You say “CyberFi will allow users to create complex automated cross-chain event scenarios”, but what kind of “event scenarios” do you really mean? Will they refer to operating in any way or participating in some of their products? If so, what would they be?
TesterBot: Well right now you can trigger buy/sell order depending on the price action of isolated pairs. For example: Let’s say Chainlink pumped from $24 to $30 but BAND (main competitor) hasn’t pumped. One would think that BAND will pump so you make this move: You sell Chainlink at $30 in the Eth Mainnet and buy BAND at $15 on BSC.
Q10 from Telegram User @JoanaZ
What are your marketing or expansion plans to fix this? CyberFi is a solid concept that needs to be extended throughout the DeFi area to be successful, so what are your marketing or expansion plans to solve this?
Alex (Appi): We try to target every people around the worl without discrimination. This is something that is quite diffecult at times but i think we should as well try to touch a bit the Asian market later on.
Part 3 — Quiz Results
In the final part we tested your knowledge in terms of Cyberfi. They’ve prepared 4 questions for this part. The total reward pool for quiz was 300$.
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