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AMA Recap: Chat with SMART FINANCE
2023-03-10 11:110206
Global Bitgetters,
We were very excited to have James, the community lead of Smart Finance, to join our community and talk about their project and vision for space.
Time: March 8, 1PM UTC 2023
Guest: James, Smart Finance Community Lead
Location: https://t.me/BitgetENOfficial/582 (Bitget Telegram)
Enter the Community Campaign Now to Share 130 SMART Now: HERE
Carley: Hello everyone! I'm Carley, the host of AMA today. I will be your host for today’s AMA. We are holding an AMA in the Bitget English Telegram Community to guide you guys to participate in the
SMART Listing event. And might as well encourage you to join the said event!
Carley: Hello James! How’s your day going?
James: Hey guys, I am James from smart finance, so far so good mate.
Carley: Alright! Please tell us more about yourself.
James: Hello, my name is James, I’m one of the community members of Smart Finance. My background in professional crypto started in 2017. Before that, I was working in the stock exchange. I have been managing private hedge funds of some industrial families plus doing marketing for them. I completed an MBA in 34fcca8d-79a4-43b4-a46b-64f4b294f681ing finance . After that, I started professional trading.
Carley: Now let’s move to the most important segment: Introduction QA to help you learn more about “SMART”. What are the objectives of the project?
James: Smart Finance is an automatic strategy protocol focusing on games and NFT products, also known as GameFi and NFTFi vaults. That is, Smart Finance compares the real-time mining benefits of blockchain games and NFT projects using the same algorithm. It then switches the hash to products with higher yielding in an automated way for mining. In this way, it can create a higher return for users who focus on a single product. Being a type of vault, Smart Finance operates very quickly: it constantly switches among different products to find the highest mining revenue.
Carley: Wow that's very interesting! I'm sure our audience's curiosity is piqued. Can you tell us the unique selling points of your project?
James: We have four different products in Smart Finance, let me introduce them to you one by one. First, S swap is very simple because most of us are familiar with uniswap and pancakeswap and this is where we can do trading, staking, mining, and farming. And the main purpose of S-SWap is to provide
liquidity. Our second product is gamelist and it’s where we list all our top-performing gamefi projects. It’s similar to coinlist, where early adopters invest in and trade the best digital assets.
Carley: Nice! But how can Gamefi or NFT projects attract more potential players? How are you planning to maintain the existing players?
James: If no one is willing to pay for the real game experience, then the economic ecosystem is very difficult. That will make the gamefi industry difficult to achieve sustainable prosperity, and eventually will perish. So Gamefi needs a sustainable ecosystem, and this is one of the major missions for the Gamefi industry today.
James: We believe that GameFi and NFT will have a more powerful and sustainable ecosystem. The over-financialization of Gamefi, the lack of game value, the over-issue of NFT, and the depreciation of revenue tokens are the core problems that plague Gamefi industries. In the future, I think the Gamefi industry will make a breakthrough on this issue and create a complete, highly innovative sustainable ecosystem. At present, "Play to Earn" is a good idea and way to attract users, but it is not the cornerstone of the game's long-term development. Perhaps when GameFi has real game value, the utopia belonging to GameFi will appear.
Carley: Can you share some information about Smart Finance’s NFT? If we buy it, what can we have?
James: Smart Royal NFT is the team badge of Smart Finance, which symbolizes the power and interests of the Smart Community. Smart Royal NFT is also the most important NFT of Smart Finance. Smart Finance distributes 3000 points of Smart Club NFT for the whole community, and the floor price of each NFT is 1
Ethereum now. Owning Smart Club NFT will also enjoy a lot of power and benefits.
James: Holding Smart Royal NFT, you will enjoy a 30% weighted dividend of Smart Finance profits; at the same time, you will be directly upgraded to a secondary agent, and you will also enjoy special benefits for each transaction; when you purchase our Gamefi cooperation projects party NFTs, you can also get a discount exclusive to you, and you will also be eligible to participate in governance mining
James: Smart Royal NFT will be repurchased by the Smart Finance project if it is lower than the reserve price one month after it goes online; and it has now been launched on major trading
markets such as Opensea, which has the largest NFT trading volume in the world; each NFT avatar is unique, guaranteed scarcity. And you also have unique rights, you will be able to participate in community governance decisions and benefit distribution.
Carley: At this point, we're now stoked to know about your plans for the future. What is the next step of the project's development plan?
James: In the development plan, we have the community genesis phase then we have the fission hash unit. This means that the user invitees can obtain higher computing power to serve the mining capacity, which can affect 10 levels, and the coefficients of different levels will be different. You can check our white paper to find out how the fission hash unit works in Smart Finance.
A smart network is similar to the Ethereum network. In the Ethereum network you stake the NFT in the mining pool, but in the Smart network it’s a different little bit in that u need to stake the smart tokens and then u will get the node, and after that, the revenue will be increased, that means the more users who buy the nodes or stake the smart token in the smart network the early community members will have a higher income.
The most important part here is becoming a node requires 10,000 SMART tokens and each validation node will gain benefits from the vault. Meaning that you will get benefits from the smart network when users are doing transactions or withdraw from the vault or the whole platform, and all the nodes will benefit from all the transactions. And this is very important, we are encouraging our community to become a node as early as they can. Because later, you will need to stake a lot of tokens. Once you become a node, you have to stake the tokens, and you will not get them because they will be locked for 90 days. After that you can choose whether you want to be a node again or not. For every 50 validation node codes generated, users need to stake 0.1% more tokens to get a new node. And that's why we encourage our community and we tell them that the earlier the better for them.
The SDAO is not that different from other DAOS, the same here in Smart DAO you can also use your SMART to vote and submit proposals. Users will have one SMART for one vote. We can see here that you can be part of modifications and improvements of rules the same as other DAOs. I want to focus here on one important point which is voting for the launch of the game IGO in Slaunch ( An IGO is a method to raise capital for new
blockchain gaming projects) and if you still remember that many people before have used Ethereum to raise funds for blockchain projects, but now you can just use our SMART tokens to raise funds for the projects.
The last one is to provide application scenarios of
Web3 guaranteed value.
For all the GameFi projects when we play we get our revenue from the project, but here in Smart Finance it’s autoplay, just playing by programs rather than us playing by ourselves so all that we have to do is toHere we have three main points as an introduction before we dive in. Our aim, as I have mentioned before, is to be at the top. The First point is to establish a complete Web3 application interface, Smart Network is an integral part of Web3 and the metaverse. It improves the underlying operating framework based on the Smart Finance system. The second point is to enable the next phase of DeFi, Lowering or completely eliminating collateral requirements in the future is key to introducing DeFi to large-scale applications. Having a strong data network layer can provide users with contribution-based revenue opportunities. deposit our funds and they will run by themselves using AI systems, and we will get our revenue from this GameFi pool.
Carley: Thank you so much for that knowledgeable talk about Smart Finance today, James!
Thank you for tuning into our community chat with Smart Finance!
We have a community campaign on-going for the event and you still have some time to join in!
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