On 5th MAY , we had AMA with PROJECT INVERSE.
GUEST :
HOST :
So are you ready to start the ama with the usual custom of introductory questions :)
1) Could you please introduce yourself guys and tell us how did you get involved in crypto?
Ans :
Thank you again for having is, my name is Emeka I am a the co-founder of TLG and the CEO of First-Kudi and SEFA. I’ve been in the space for the last 4 years as an investor, VC and product Designer. TLG helped incubate Ferrum which we brought to Market. In 2019, we designed and launched First-Kudi, a crypto-fiat platform for the African Market. My background is in pharmaceuticals. I have always been an entrepreneur by trade and I have always tried to stay at the cutting edge of technological innovations.
My Name is Ikay Enu, I’m a co-founder of TLG and Project Inverse. I’ve been in the space for the last 4 years as an investor, VC and product Designer. TLG helped incubate Ferrum which we brought to Market. I’m a physician by trade and I have always tried to stay at the cutting edge of technological innovations.
2) What is project inverse and what does it have to offer to the crypto space ? how is $XIV token
going to revolutionize the crypto industry
Ans :
INVERSE is a DeFI protocol that allows users to stake out utility token XIV for a short duration of time (3 days, and 7days) within tracking vaults that track the movements of select DeFi coins and DeFi index. INVERSE allows users to earn gains from the downward moves of the coins or index being followed in the tracking vaults in the form of additional XIV tokens.
Project Inverse is a counter-volatility DeFi platform that allows users to speculate on the movement of other coins using the XIV token. Users place XIV in tracking vaults and earn gains either from the upward or downward moves of the coins they are tracking!
Also our Platform is live. You can start earning gains today.
Users can earn up to 3 x the XIV they stake in tracking vaults
By the way how much time did it take for you to build in such a project because it seems like it is heavily coded but ui looks amazing and simple to use for beginners even so how much time you devoted in building this project ??
That's some great news coming in guys follow them on their twitter handle join their telegram channel and never miss an update
If you bet 100USD of XIV tokens you can gain 300USD of XIV tokens. Simple and easy😀
We raised far less funds than projects that have nothing but a white paper. All funds we raised are public and have gone into building and promoting the platform!
[Forwarded from PROJECT INVERSE Alerts]
(https://attach.fahares.com/rmatNTLupUp++PicLaoVbQ==) 🔥 INVERSE 🔥
🔵 The crypto and DeFi space is fast moving and highly volatile. These assets are often subject to frequent and rapid dips in price which can result in profound losses for market participants.
To help solve this problem, we have created a protocol that offers users the opportunity to stake against the frequent dips in price of select DeFi coins without having to hold those assets.
With the INVERSE protocol and its native XIV token, non-traders are offered the ability to speculate on the volatility of select assets dur- ing selloffs, dips, or downward turns in the crypto markets
🔵 INVERSE (https://projectinverse.com/) is a DeFi platform that provides an array of smart-contract features with integrated time-based options. Users have the opportunity to speculate on the drop in value of a suite of DeFi coins by utilizing the multiple tracking vaults on the platform. XIV, the protocol’s native token, is used to unlock these vaults, and then staked within these vaults for no more than 7 days.
As their name implies, these vaults track the real-time price movements of select DeFi tokens (i.e. COMP, AAVE, UNI, YFI). After 7 days, if the value of the DeFi asset being tracked has dropped by a certain percentage, the user will gain a significant percentage yield on the amount of XIV held within the tracking vault.
If the price of the DeFi asset does not drop in value beyond the pre- determined percentage by the end of the 7-day staking period, the user will forfeit a portion of their staked XIV. Rewards will be automatically disbursed to the user’s web3 browser wallet at the end of the 7-day staking period. Ultimately, INVERSE offers users the option to hedge against the volatility of select crypto assets.
🔵 XIV Token:
Required token to be used for staking against DeFi coins and swapping on the INVERSE platform.
▪️Ticker: $XIV ( ERC20 )
▪️Token Supply: 90,000,000
▪️Etherscan (https://etherscan.io/token/0x44f262622248027f8e2a8fb1090c4cf85072392c)
▪️CMC (https://coinmarketcap.com/currencies/project-inverse/)
🔵 Exchange’s:
▪️Hotbit (https://www.hotbit.io/exchange?symbol=XIV_USDT)
▪️Bidesk (https://www.bidesk.com/exchange/XIV/USDT)
▪️UniSwap (https://info.uniswap.org/token/0x44f262622248027f8E2a8Fb1090c4Cf85072392C)
▪️Dextools (https://www.dextools.io/app/uniswap/pair-explorer/0xdaef1026b0c63eed3b2b86af396d724ddb9dcd18)
🔗 USEFUL LINKS 🔗
🌐 Website (https://projectinverse.com/)
📑 Whitepaper (https://docsend.com/view/avgpqxphp3xb7g6f)
📧 Group (https://t.me/ProjectInverse)
🔊 Channel (https://t.me/Project_Inverse)
🕊 Twitter (https://twitter.com/inverseproject?s=11)
👥 Team (https://projectinverse.com/team/)
📖 Github (https://github.com/Project-Inverse)
🧮 Medium (https://projectinverse.medium.com/)
🧧 Reddit (https://www.reddit.com/u/Projectinverse/?utm_source=share&utm_medium=ios_app&utm_name=iossmf)
🎦 YouTube (https://youtube.com/channel/UCltw6qnghctr268bQJgizSw)
3) Can you tell more about fixed and flexible vaults and what are the risks involved in this?
Ans :
The Fixed vaults are vaults that allow you to stake XIV against the movement of coins and earn gains based parameters fixed by the protocol
With flexible vaults, the user sets the parameters and the possible gains they can earn from the tracking vaults.
With fixed vaults, if a coins (I.e. uni) being tracked falls by 10% or greater in a 24hr period, users can earn up to 3x the amount of XIV they have in the tracking vaults
In flexible vaults, the user sets the potential risk and reward!
4) When would staking with ferrum network be opening and what would be the advantages
offered through it
Ans :
Ferrum staking is currently closed. Staking with Ferrum network May reopen later this year after the initial round of staking is ended. With Ferrum staking, users may earn 100% to 170% APY.
5) Can you describe your roadmap and shed some lights on updates planned by the team for 2021?
Ans :
Later this year, we plan to unveil more coins and categories of coins in our tracking vaults beyond Defi coins. We plan to unveil popular chain coins and NFT coins that can be tracked by XIV.
We also plan to introduce peer-to-peer staking that allows two different users to set bets and stake against each other.
I have attached the white Paper for your convenience . We are ahead of schedule. We Launched earlier than we mentioned in our road map. We will be adding more Coins like Ikay said and we will add a Peer to Peer function in the coming months. We are also looking at Binance Chain.
Gas fees are an issue with ethereum so BSC is on the horizon
All this should be achieved by the end of Q3 or beginning of Q4 at the latest.
Yes...We believe Inverse is going to be a game changer in this space of crypto.
It cost 3000USD to own 1 ETH. A lot people may not be able to afford that. But what if you can triple your money if you believe eth will go down or up by 15% in the next 3 days or 7 days? That is a game changer correct! Well with the Inverse Platform you can.😀
TWITTER QUESTIONS .
1) How does the swapping work on your platform and what are the swapping options available at
present also could you mention the fees charged during the process apart from gas fee and the
distribution of fees? @Abc97341745
Ans :
Actually, swapping is only available through Uniswap. There is no swapping feature on the platform.
2) Could you explain to us why you decided to name your token $XIV because in roman numerals
XIV=14 does this have any relation tob you ? and on your website it says that we can get
significant rewards of $XIV, what should we do to get those rewards @shadyaboabdo
Ans :
XIV is a opposite of the VIX which is an indicator of volatility in the traditional stock markets.
Sahil Seth:
Oh alright quite creative I must say :)
Emeka Enu:
You can earn XIV right now
Ikay:
Traders can earn when the VIX goes up or down. We want XIV to represent volatility whether up or down of cryptocurrencies using the tracking vaults.
3) The XIV token is an ERC-20 combatible coin that powers the staking vaults in the inverse
decentralized protocol. So can share your tokenomics distribution and its utilities? And what are
the functions will $XIV tokens serve @Wormz29
Ans :
https://docsend.com/view/7e2udtrjrbup7sai
The document I posted shows you our tokenomics. I think we have covered the utility of the XIV token
Sahil Seth:
Indeed by the way could share some famous investors or companies in your project if any who participated in private sale??
Emeka Enu:
Ferrum, X21, some members of CMT, of course TLG
4) Is there any minimum amount of staking DEFI assets in the form of $XIV and do have plans to list
in major exchanges and even though XIV is used for staking is it good to hold XIV for long Term?
@Jaikejoll447
Ans :
Users can stake between 500 to 10,000 XIV in the tracking vaults.
Emeka Enu:
10,000 XIV in LP liquidity to receive 36% APY
Ikay:
There are definitely plans to list XIV on major exchanges( CEXs) in the near term. We are in talks with several of them as we speak.
Users who add 10,000 XIV to the LP will receive 36% APY.
Sahil Seth:
Any lock in period??
Ikay:
For the tracking vaults, lock periods vary for 24hrs, 3days, 7days
For the LP, lock up is 30days
Emeka Enu:
I hope we have answered most of your questions?
Sahil Seth:
Yes and very nicely now last but not the least question of this segment coming up
5) To be a great platform for both investors and for its users transparency and security is important
how inverse project manages to provide transparency to gain users their trust. And how strong
is your audit @arjunkrishnan
Ans :
Ikay,
Great question, our code is public for transparency and we have an entire security protocol listed on our WHITEPAPER.
Emeka Enu,
We were audited by Certik, however before the platform was launched. We had another audit from an independent company. We take security seriously..
Sahil Seth
It is our pleasure now are you ready for the Last segment to begin where you could interact with our community and address their questions :)
It’s community segment are you up for it :)
LIVE AMA QUESTIONS .
Q1.What are the ways for your project to generate revenue in the long run? What is the progress of business development and what are some of your commercial partnerships?
Ans :
Our project will generate revenue from the rise in token price (XIV is a finite coin) and from losses from the tracking vaults.
Q2.During the 2020 I got scammed a few times, rugs, exit scams etc. — how can we investors be sure that this will not be similar, are your contracts public & somewhere to be seen?
Ans :
We are for long term. We have been in this space for many years and are not going anywhere. We are not interested in short term gains from scams and rig pulls. Our integrity will not allow it.
Q3.) Are you a global project or local project? Can anybody anywhere use Your project without any restrictions??
Ans :
Our project is DeFi. Anyone, anywhere with a Web3 wallet can take part in it.
Q4.Once the product is developed, one of the main challenges seems to be adoption. What are some of the plans to stimulate adoption and build out the ecosystem around INVERSE?
Ans :
Good questions. We will continue promotion through AMAs and videos interviews. We have also significantly increased our rewards to draw more user interest. We hope users who earn gains will continue to spread the word.
Q5.In what ways do you think INVERSE contributes so that financial institutions can benefit from the advantages that DeFi offers?
Ans :
Hi Mickey, What is great about Inverse is you do not need to acquire the coin you betting against. This decreases risk and user can take advantage of the volatility of the market.
Q6.Can you share your fundraising situation and how your private and public offering tokens are distributed? And what must we prepare if we want to participate?
Ans :
This will give you more insight on our token metrics
CONCLUSION .
from Emeka Enu
Thank you for hosting us. All of you are professionals and asked great questions. Join our channel, use our platform. We know this is not a sprint so we continue to improve the platform everyday. We appreciate all your feedback. You can build the greatest platform in the world but if a user does not utilize it, then its hopeless. So send feedback, it helps us…😀
from Ikay
The problem we are solving a how users can earn gains from the movement of other crypto assets without having to hold those assets. It’s a profound problem with a very simple solution.
FOLLOW US :
🔗 USEFUL LINKS 🔗
🌐 Website (https://projectinverse.com/)
📑 Whitepaper (https://docsend.com/view/avgpqxphp3xb7g6f)
📧 Group (https://t.me/ProjectInverse)
🔊 Channel (https://t.me/Project_Inverse)
🕊 Twitter (https://twitter.com/inverseproject?s=11)
👥 Team (https://projectinverse.com/team/)
📖 Github (https://github.com/Project-Inverse)
🧮 Medium (https://projectinverse.medium.com/)
🧧 Reddit (https://www.reddit.com/u/Projectinverse/?utm_source=share&utm_medium=ios_app&utm_name=iossmf)
🎦 YouTube (https://youtube.com/channel/UCltw6qnghctr268bQJgizSw)
TELEGRAM : (http://t.me/CRYPT0SCAPE)
