RECAP AMA EPID COMMUNITY X BICTORY FINANCE
🕖AMA Timing : 1st September 4 PM UTC | 11 PM (GMT +7)
🏚Venue For AMA: @EPID_Community_VN
💰Reward Pool : 100$
➡️Part 1: Project Introduction.
Q1: Can you give a brief introduction of what Bictory Finance is? What is it aiming to do, and what it intends to solve in this industry?
Bictory Finance is a complete ecosystem built on a foundation of security, tech, and a vision of what a regulation compliant cryptocurrency world looks like. This ecosystem includes a CEX, DEX, Crowdfunding platform, and also an NFT project which we will have more details on soon. We want to remove barriers to new users getting into crypto through our CEX, but we also want to appeal to builders and DeFi users through our DEX.
We plan to bring in users and investors by building a secure trio of products.
I guess Quad of prodcuts would be 4? 😛
A quad is something we have in stealth i guess 😉
Q2: Can you share some of your background and experience? How did you know and get involved in cryptocurrency? What made you/your team decide to found Bictory Finance?
I guess the best way to sum it up is a quote from our litepaper:
The mission is simple: "Develop a slew of products that enable developers and liquidity providers, creators and traders on Concordium to raise capital, trade crypto, and provide liquidity.
We have dozens of members in Bicory finance team present, we have Joha who is the Project Lead, Agbona - Operations Lead, Ben - Marketing lead and Kelvin who works as our Community Marketing Manager. Vast majority of the Bictory team have been in the crypto space since mtgox exchange times, and have worked with projects such as Beam Privacy, Concordium, Avalanche, Kylin Network, CoinMargin, Unipool DAO, SWN GLOBAL, Korea Bitcoin Center and several other blockchain projects.
Joha and Agbona saw a need in the market for security, speed, and reliability when it comes to exchanges. They saw an opportunity in Concordium to build something different than what we have seen before. On top of that, they saw the coming regulations and wanted to build something that was prepared for this.
Personally, I got involved with cryptocurrency because a friend showed me how to mine using my video card about 6 years ago.
Q3: Currently, there are many scam projects that cause investors to lose. So, Why we should choose and trust Bictory Finance?
Because our entire focus is on security. We are building our products in a way that will attract serious investors and projects. We will comply with all current and future regulations. We will be using the Concordium’s ID layer, as well as their 2 layer consensus approach. Our goal is to build something secure so that investors can rest assured that they are in good hands.
We chose Concordium specifically with security in mind.
Our in-house developers never compromise on security and are taking the necessary precautions to put in the state of the art security systems in place. Every product of ours will be audited by our auditing partners and run through rigorous testing for better use.
➡️Part 2: Question From Twitter (5 best questions).
Why does Bictory use DEX and CEX together to create a high-performance, market-ready product? How is the security of Bictory's CEX and DEX maintained?
That's interesting and this is one of the very few tools being used in this space. That's called Proactive Market Making
This is done to boost liquidity across our Decentralized exchanges.
Day in and day out you do hear cries of pains from crypto traders on uniswap, pancakeswap and quickswap complaining of high price impact.
With the use of the Proactive Market Maker protocol we are able to route trades through the DEX and CEX in order to boost the liqudity and reduce the price impact
hence saving traders their funds and giving them more in the tokens they receive
Call it killing two birds with one stone aye 😎
We are excited at what we are doing at @bictoryfinance 🥳
In regards to security, like I've mentioned before we will not only be putting safeguards in place, but we will be building our code from the ground up with security in mind. This is a requirement for us, as we plan to build something that will attract retail and institutional investors who need a secure product. We also want to prepare for upcoming regulations which will certainly come.
Awesome and we have some of the experienced developers in this space who are helping us achieve this. Soon the entire team will be revealed on our homepage at bictory.io
-What is the Main FOCUS of your project???
b) Partnerships and Collaborations?
I believe this question wounds around all the options mentioned. Our main focus is our Customers but before we can deliver any solid project to satisfy the need of our community at @bictoryfinance and the crypto space at large we need to form formidable and strategic partnerships in this space for mutual benefits involved.
Still focusing on our customers, our community @bictoryfinance will only feel content with our products and services if they are secured to the maximum. Security is a major concern to us as Ben has already stressed on that and we take note of all the security breaches occurring in this space to deliver the best of products to our community.
We will also leverage on the concordium's ID layer to provide the maximum security with all the products we are building
Bictory finance had the choice to build on the Concordium network, this because in addition to the robust technology, it is due to the identification layer at the protocol level. What does this layer of identification mean at the protocol level for both your platform and users?
With the ID layer we will be utitilizing from Concordium, it makes it easier and more secure to login/logout, without having to share your personal information. The ID layer represents your real world ID, but it uses Zero Knowledge Proof so that you aren’t sharing your information with Bictory Finance. Concordium also has a 2 layer consensus approach. With this 2 layer consensus, if there is an attack on the network it doesn’t slow down or stop. These things are paramount to security. Through Concordium’s ID Layer we will have an easy whitelisting and registration process. Anybody who registers on Concordium’s network can have full access to our platform without going through any form of strenuous KYC process.
Currently, there are many decentralized exchanges. Do you offer more options than your competitors? Why should I choose Bictory protocol over the other platforms? What are your unique features in terms of fees and security?
That's true and these exchanges are mostly developed based on new blockchain networks.
Bictory DEX is first and foremost being built for the Concordium Community. We will however, go crosschain with this and offer services to top blockchain networks like Ethereum, Avalanche, Polkadot and luckily for us we have a well connected team with good network reach to secure all these for us
Talking about Security and fees.
Concordium Network offers very cheap fees for its transaction. Actually less than a half a $1. We are building on a very scalable and fast network that confirms transactions in less than 3 seconds!
Cool huh? and it's at an affordable gas price as compared to other blockchain networks
Our DEX once full developed will undergo several phases of auditing and testing to ensure that security is at its maximum 🔓
Do you have any Coin Burn / BuyBack systems or any $Token Burn plans to increase the value of Token & attract Investors to invest?
Buybacks are healthy for the growth of any token on the crypto market and this is something we will look into the future considering the short supply of our tokens within Trio Ecosystem. That being said, we also plan to increase our value and attract investors by building a secure and user friendly product.
Without a secure product and something that is easy to use, value will surely not follow. At Bictory Finance we are builders. 🙂
➡️Part 3: Free asking (5 best questions)
Can you briefly describe your PARTNERSHIP so far and upcoming partnerships?
We are currently in our Private Sale Round C and we have had many investors and partnerships up to this point. Chateau Crypto, Market Making Pro, Legion Ventures, Avalon Wealth Club, Black Dragon, OIG, HiLabel, EC Ventures, and MANY that have not yet been announced. If you are an investor and are interested, please send an email through email@example.com with your interest and our team would reach out to you within 24 hours to get you into the waiting list.
While you build your project, do you take into account community feedbacks and demands?While you build your project, do you take into account community feedbacks and demands?
Hello Lucy, we at @bictoryfinance really take feedback and suggestions from our community. We have one of the friendliest community in this space and we welcome each one of you to join and be part of us. In view of this we have plans to launch our Ambassadorship programme as soon as we launch the CEX fully. Participants will be treated with all sorts of specks and rewards which will be discussed in the coming days.
Do you have Whitepaper if yes please share it with us and secondly do you have plans for pre-sale? Where can we join it?😇🙂
We have a litepaper which you can view here: https://bictory.io/b_litepaper.pdf
We have completed our seed sale and Private Sale rounds A and B, and we are currently in Private Sale Round C. We will have a public sale after the TGE in Q4.
COVID 19 has slowed many economies around the world but as a crypto business has it affected you negatively or positively? Secondly, are you still on track to achieve your targets as the road map says??
We are constantly evaluating our roadmap and updating things as necessary. That being said we are raising enough funds so that we can stay running for 3+ years without worrying about market conditions.
As far as I can see, NFT and BSC are the next trend of new projects. As I know there are a lot of very good development projects on this platform, What do you think about this development?
Well, NFTs and Gaming are the new trend. Bictory Finance has already started researching and laying out plans of building an NFT marketplace for the concordium Ecosystem. Concordium Network offers several advantageous features that major blockchain networks don't have. Scalability, Privacy and Legally Compliant Network, Cheap fees and fast transactions tool