Thank you to the NanoNews Community for participating in Ask Me Anything (AMA) with DeFi Wizard February 16, 2021. This guest star Ananad Kamath, Founder of DeFi Wizard. If you were unable to join the live AMA, no worries, here comes our 106th AMA recap!
We are glad to meet here:
Ananad Kamath, Founder of DeFi Wizard
For taking your time out from busy schedule for the AMA!
Host: How are you feel today sir?
Anand: I’m doing great. Glad to be here.
Host: Our community hopes to talk and learn more about DeFi Wizard. Thank you for being here while busy preparing something big for the DeFi Wizard
Q1. Could you give an introduction of yourself And how you can play an important role in DeFi Wizard?
Hey guys, My background has been programming. I used to work as Front end developer.
I have been developing web for last 10 years. I started building smart contracts 3 years back. Have helped lots of ICO/IEO teams for creating token contracts
Host: That’s great, you have a lot of experience to develop the product in the Blockchain industry.
Q2. What is DeFi Wizard? And how is the story behind the DeFi Wizard Creation?
DeFiWizard is platform which provides 1-click wizard to create Token Conract, Yeild Farming, Staking, ETH to BEP20 bridge etc. The reason why we created DeFiWizard, there have been lots of recurring work to create the token for crypto projects.
I wanted to reduce that recurring work.
Host: So is DeFi Wizard currently using the Ethereum protocol?
Anand: It’s developed for both ETH and BSC
Q3. What is so exciting about DeFi Wizard, which might make DeFi Wizard different from all other projects out there?
We have the working product with 5 projects already using us. https://defiwizard.xyz/projects , We have 10 more projects lined.
Host: Great, there are several projects that have been featured there which means that DeFi Wizard has several partnerships with big projects such as Nord Finance
Q4. Please provide some information about your Roadmap, How DeFi Wizard is progressing so far? And what DeFi Wizard is currently focused on?
Here is the rough roadmap: https://defiwizard.xyz/roadmap, We are ready to launch our platform right after the TGE.
Currently we are focusing more on ETH and BSC, We will explore Elrond and Polkadot.
Host: Its great plan to expand the ecosystem for Project
Q5. Please tell us more about $DWZ (DeFi Wizard) Whaten! What utilities does the token have, and what benefits will tokens holders get?
$DWZ is used as payment token to use DeFiWizard Service. https://defiwizard.xyz/token, We have governance and liquidity mining as other utilities
Q6. What are some achievement that DeFi Wizard has achieved so far? And what are DeFi Wizard upcoming plans, Especially in 2021?
So far we have launched 5 projects on our platform and 10 more already on-line. In next 6 months we need to establish to do 100 projects
Host: So are you providing services for the DeFi Dapps ecosystem? I see there is a page for pricing
Anand: Yes. That’s the whole idea of DeFiWizard.
Q1. Defi Wizard allows you to create smart contracts for ERC20/ BEP20/EDST. Do you plan to include other blockchains like Polkadot or Tron for the same purposes? For those with little experience in the area, is there a technical support program to help create these smart contracts?
We would definitley explore Polkadot. Not sure about the demand for TRON. Technical Support will be provided for sure.
Q2. There are many risks in the DeFi industry, for example there are many projects that have been well shot, exploited or hacked.Then how is DeFi Wizard secured?And How does the DeFi Wizard Team address these DeFi risks?
We will get our base contracts audited from the best audit firm. We will create the subsequent projects using the base contracts.
Host: Great, it is the foundation to make the project even more secure and reliable
Q3. In DeFi wizard users can generate audited smart contracts for tokens in few clicks, how is the audited part done? Who does the audit, how complete is it?
Auditing is done for the base contracts. We just change the parameters related to project. For example SYMBOL, NAME SUPPLY, So just by chaging above params won’t create any big issues.
Q4. When a creator wants to start a project, what kind of documentation will they need to provide? Will it really be possible to crowdfund from any country when the platform goes live? Or will there still be some restrictions?
It would be st-forward form and download button to download it. If they want to deploy they can directly deploy it.
Q5. High fees are a big disadvantage among DeFi projects these days, specially by using Ethereum protocol, since it’s not the only supported chain on DeFi Wizard, what solutions have you made to guarantee accesible prices on fees?
Binance Smart Chain has been really really promisning in terms of very less fee. It also has got 5b volume recently, Lots of crypto teams will start using them
Host: Yes, Binance is currently the best for that matter. Is it possible that when there is an increase in users the fee will increase like uniswap, yeah let’s see soon!
Q1. DeFi Wizard reduces the time to create smart contracts, what is the minimum period of time these smart contracts get done?
Less than 10 mins if you have allthe requirements ready
Q2. Your project offers an impressive facility to create projects, it seems to do it with magic hehe however, for whom is it focused? For private users, for programmers? What is your market niche?
It’s focused on upcoming and exisiting crypto teams.
Q3. In the next quarter, this project will be having a lock liquidity support, what this consists of? Why should people use this tools and not from your competitors?
This is to build a similar thing for Unicrypt
Q4. As a community driven project; how can I contribute my quota to your success? Do you have a Global ambassadorial Program or Referral Reward System?
We will have an Ambossodor program
Q5. Defi is the trending, Yield farming is the top traffic, Decentralized Finance is the future so DeFi Wizard is confident enough to lead to fulfill its goals and mission?
Defnitely we are on the track to do this.
Q6. As You know, Many people judge a Project By the Token price, What do you have to Say to investors? What’s the plan to increase the Token Demand?
DeFi Wizard Social Media:
- Website: https://defiwizard.xyz/
- Twitter: https://twitter.com/defi_wizard
- Telegram: https://t.me/defi_wizard
- Medium: https://defi-wizard.medium.com/
- Github: https://github.com/DefiWizard
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