Thank you to the NanoNews Community for participating in Ask Me Anything (AMA) with Phase.Finance on October 14, 2020. This guest star Adam, Founder Phase.Finance & Garalt Co-Founder Phase.Finance . If you were unable to join the live AMA, no worries, here comes our 77th AMA recap!
We are glad to meet here:
Adam, Founder Phase.Finance
Garalt, Co-Founder Phase.Finance
For taking your time out from busy schedule for the AMA!
Introduction Session
Q1: Can you introduce yourself to the community? What is your background and how did you join Phase Finance ?
Geralt: I’m Geralt Michaelson, from Nevada. A graduate of Computer technology at the University of Nevada, Reno. I always had an interest in new advancements and found out about blockchain. That was back in 2013. Since then I had the time to learn blockchain development skills.
I met Adam at a conference and then we became friends.
The idea of Phase came to us when we started trading on Uniswap. On several occasions, I tried making quick transactions at a particular point but I either missed the big pump or the quick dump quite sad right?
This is what gave us the thought of doing something. Something that could carry transactions at a point in time and be a convenience for the user in a decentralized world.
This is what gave birth to the main focus of Phase, which is the Phase Dex.
Adam: Hi there!
I’m Adam, the CEO and Founder of Phase. Around 2015, I found the world of crypto and felt fascinated by it. I met Geralt at a blockchain conference and we just connected instantly.The idea and birth of Phase is explained by Geralt here.
Q2: Can you briefly describe what is Phase Finance ?
Phase is built to support a plethora of features facilitated by the integration of a blockchain-based decentralized economy. Some of these features include Phase Dex, Phase Store, and Yield Farming.
Phase Dex offers a unique peer-to-peer, decentralized solution for trading with Automated Market Maker (AMM) built to modify the existence of most decentralized trading platforms.
Q3: What companies/projects do you see as competitors, and how does phase.finance stand out compared to them?
Since phase works as an integration, there is not much competition for now since the ideas are almost not in existence, our services to be offered are integrated to the existing Dex and therefore we might attract competitors shortly with the same idea but we will stand out in every possible way. We aim to offer a comfortable and minimal experience for our users while eliminating the flaws of our future competitors. Phase Dex works on a two-layer scaling solution primarily built on Uniswap further extendable to modify orders on other DeFi platforms like Mooniswap, Kyber, Balancer, etc. We solve the issues of high transaction fees, buying and selling limits, faster transactions, and more.
Q4. What is the use-case of the Phase Finance Token?
The primary use case of Phase is its Phase Dex followed by the Yield farming platform and Phase Store.
We recommend having a look at our litepaper for more information https://docdro.id/XXzk9U7
Q5: When will the token sale take place and how many phases are there?
Our token sale is ongoing, we raised approximately 50 ETH in private sales.
Our pre-sale is currently going on so it’s a good chance to get in early.
As of now, we are finalizing exchanges to list PHY on. Our pre-sale price is 0.05 ETH per PHY while the listing price would be 0.1 ETH per PHY.
There are only two phases, the private sale and the pre-sale.
Visit https://forms.gle/TZ7xsaVehqKq5Wxy6 It includes all the instructions and information required to participate in the pre-sale.
Twitter Session
Q1.How is Phase DEX able to solve the issue of high transaction fees if it is built on UniSwap? Is it neccesary to pay the double fee (approve and swap) to use Phase DEX?
We are working on an aggregative system that piles up transactions and sends them as one transaction. This thus reduces the heavy charges on the Ethereum blockchain.
To approve a token is very necessary for any decentralized platform therefore you need to pay both approve and swap fees.
Q2.Phase Finance is similar to Uniswap in appearance. How will you differ from this platform? How will the pools and liquidity funds be managed within your platform?
Yes, the appearance is quite resembling. Phase Dex is a two-layer scaling solution integrated on the Uniswap platform.
The pools and liquidity will be managed like any other decentralized trading platform.
Q3.Could you please elaborate more about your tokenomics? What’s the total supply and what kind of plans do you have regarding the token unlocks in the future?
Our total supply is 30k.
More about the tokenomics can be found on our website phase.finance
Team and advisor funds will be locked for 6 months.
Q4.Right now the Pre-sale is live, so can you tell us what are the minimum requirements to purshare your tokens right now? Also there is necessary pass any KYC?
There are no specific requirements to participate. The minimum purchase is 0.1 ETH and and max of 30 ETH.
No, there are no KYC requirements to participate in our pre-sale.
Yes! 0.1 ETH or more is the only requirement.
Q5.What are the advantages of Phase as a Yield Farming platform among the other options avaliable? Yield farming has been gaining popularity lately, what are your thoughts of it?
On our yield farming launch, we’ll partner with more projects and create pools with larger APY to attract farmers across the decentralized ecosystem.
Live AMA
Q1.How does your Token staking work out
A staking system will surely be implemented and it will be a pool and aside from the pool APY, 80% of transactions fees on phase dex will be awarded to stakers
Q2.Community support is one of the biggest aspects of a project’s success. Most projects have programs that interact with their users. Does you have any special plans to attract and expand the community and improve the user experience?
We plan on big marketing to gain audience once our project sets on its path and as we provide features wanted by many, the phase will attract mass adoption.
Q3.Why should I invest in your token? do you guarantee I’ll be profitable?
You should invest in our project because we offer a strong use case unlike a lot of other DeFi projects. We cannot guarantee a profit but anyone who has enough knowledge of trading and blockchain would know what a 30k supply token could do with a use case like ours.
Q4.💫In your roadmap for October 2020 you have planned the Uniswap & CEX Listing of the PHY token. Have you already been in contact with that CEX? What can you tell us in advance about it?
Yes, we are in talks with Hotbit, Hoo, ProBit, and some more. We will be finalizing the listing this week.
Q5.As a trader, I prefer to choose CEX for trading because of using DEX is more complicated. What can you tell to bring us using Phase DEX rather than any CEX? Why must we use Phase DEX while there were more popular DEX, let’s say Uniswap?
Centralized exchanges has a bad issue of censorship unlike decentralize exchanges. Also, the features we provide is really what everyone wished for in a decentralize exchange. Phase will provide a real reason for adoption.
Q6.How many wallets that can support $ Phase Finance until now? And do you have any plan to build your own wallet?
Phase is on the Ethereum chain and can be stored in any erc20 compatible wallet..
The plan to build own own wallet is not in consideration for now
Also we will be providing a bonus of 10% for users who participate in our pre-sale through Nano News. To get this bonus simply enter NANO NEWS in the referral column on our form.
https://forms.gle/TZ7xsaVehqKq5Wxy6
Keep in mind this will only be valid for 24 hours starting now.
📝Don’t forget join and follow social media from Phase.Finance 👇🏻
• Join:
✅Telegram:
https://t.me/phase_yield
✅Telegram announcements :
https://t.me/phaseyieldannouncements
✅Twitter:
https://twitter.com/phaseyield
✅Medium:
https://medium.com/phaseyield
✅Github:
https://github.com/PhaseYield
✅Website:
https://www.phase.finance/
Thank you for trusting NanoNews as the organizer of the event today, hopefully everyone can understand about phase.finance
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