Thank you to the NanoNews Community for participating in Ask Me Anything (AMA) with Team Finance on September 24, 2020. This guest Team Developer , Ceo Founder Of Team Finance . If you were unable to join the live AMA, no worries, here comes our 70th AMA recap!
We are glad to meet here:
Team Developer , Ceo Founder Of Team Finance
For taking your time out from busy schedule for the AMA!
Introduction sessions
Q1: Can you introduce yourself to the community? What is your background and how did you join Team Finance ?
Yes. My background is in full stack software development and smart contract development. I have 5 years of software development experience.
My co-founder has many years of experience in digital marketing and cryptocurrency also.
After experiencing several scam projects in the De-Fi space, we understood that the solution to preventing founders from running away with investors funds is to lock their liquidity tokens and lock their founder tokens.
So we created that solution, “TEAM”
Q2: Can you briefly describe what is Team Finance?
Team finance is a platform that allows cryptocurrency creators to “lock” their tokens in a secure smart contract that is time-restrictive.
For example, is you created “Nano” coin, and made 100 Coins, you would probably sell 40 and keep 60 for yourself or the platform.
We help you lock those 60 coins for 1 year or 6 months, however long you wish.
After the time passes, the coins will be “unlocked” and returned back to you.
This makes the community trust you more, because they now know you don’t intend to take investors money and sell all your coins for a quick profit
Q3: What companies/projects do you see as competitors, and how does Team Finance stand out compared to them?
We have several competitors, TrustSwap and UniCrypt being the main ones.
However, we have several important features that separate us from them.
UniCrypt does not offer token locking, only liquidity locking. TrustSwap has a different token model than us also.
We believe our design is a differentiating factor when it comes to ease of use and trustworthiness.
We hope we can continue to grow at this pace in the future.
Q4. What is the use-case of the Team Finance Token?
Our token will be used as an alternative form of payment for the listing on our platform for project owners. They have the option to pay us in their tokens, or pay us in TEAM tokens for a reduced price.
As a holder of TEAM, you will receive the tokens that we charge as a fee to project developers via an airdrop.Our token will be used as an alternative form of payment for the listing on our platform for project owners. They have the option to pay us in their tokens, or pay us in TEAM tokens for a reduced price.
As a holder of TEAM, you will receive the tokens that we charge as a fee to project developers via an airdrop.
Q5. What are the major milestones Team Finance achieved so far & what are in future pipeline?
So far, we have successfully locked over $900k worth of value in tokens using our smart contract, and we are adding new projects to lock with us over the next week or so.
We plan on fully launching our platform October 15, 2020
Twitter Session
Q1. I don’t plan to create my own token, so what are the advantages of having $TEAM? Is it intended only for those people who will create their own project?
No, actually the main benefit comes from simply holding TEAM. As a holder in TEAM, you will receive a portion of the fees we collect from each project.
Example, if a coin lists on our platform and we collect 1,000 coins from them as a fee, we airdrop those 1,000 coins to our coin holders.
Over time you can accumulate a variety of different coins which are all listed on our platform
Q2. Can you explain more about the Public Facing Profile features for the locked tokens of users in your platform? Is it necessary to show users profile for proof? What is the advantage and disadvantages of this feature in your platfom
Great question. The answer is yes, the public profile is a must, and is required to show potential buyers the safety score and lockup details of a project. This is important for establishing trust in the community.
It will show liquidity locked, founder tokens locked, circulating supply, locked supply, the value of the locked supply, and more
Q3. Every member on Team Vesting must be investing with different amount of token. So what about the interest rate shared? How was the calculating of interest rate work?
We charge a flat fee to list tokens onto our platform for time-locking. We believe that will be around 0.5% as a fee paid in their tokens or ETH to list
Q4 . platforms often arise that complicate the movements of liquidity or acquisition….
what guarantees do Team Finance users have in terms of easy liquidity blocking and an accessible token acquisition system?
We aim to stand apart from our competitors because of our simplicity. We make it extremely simple and painless to lock your tokens, and we make it very clear to both founders and the public how to use and navigate our platform
Q5. I like that platforms offer full custody or control to their users over their tokens
who is in charge of transferring the tokens within Team Finance and how much custody does this platform offer its users over the tokens?
We do not offer full custody of the tokens for many reasons. The best way in our opinion is to offer the facilitation of the creation of smart contracts (with the code being reviewed and audited) and then the token founders lock their tokens directly into their own smart contract, and also withdraw the same.
Live AMA
Q1. ⭐ Regarding the distribution of the $TEAM token 10% will be used for marketing and promotion. What are your current marketing strategies to reach more people?
We are using these tokens for giveaways, paying sponsors and doing AMAs like this event here! 🙂
Q2. Yeild farming is a new trending so do you have any plan to yeild farming system development?
Yes for liquidity providers we do plan on implementing an incentivization mechanism very soon
Q3. Adoption & Awareness about Platform is very important for any Creator as well as Users! So, What are your plans to attract More users as well as Creators with Non-crypto users too ?
Our product only applies to team founders and potential coin buyers, that is our market demographic. However, as more and more individuals enter the DeFi space, I believe our solution will become increasingly relevant
Q4.Does the TEAM have a plan to increase or decrease the supply in future?
No, neither decrease or increase. The supply will stay at 1,000,000
Q5. How do you plan to spreads your understanding of the project. ” Finance ” in different country where spoken English is not goods like me?
By doing AMAs in different communities such as this
Thank you for trusting NanoNews as the organizer of the event today, hopefully everyone can understand about Team Finance
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