Date :- 26 April , At 11 am UTC
Hosted by : Sherlin
Speaker : Simon Lau
Sherlin :
Good afternoon everyone , I am pleasured to have TrustFi Network team to join our AMA today.
Simon Lau :
Glad to be here and share our project TrustFi to all of you
Sherlin :
Hello @simonlau02 So nice to have you with us for AMA Session today.
Sherlin :
Shall we start AMA?
Simon Lau :
Yes please
Sherlin :
Let’s start with some introduction Questions
Sherlin :
And Please type done after completion of an answer
Simon Lau :
Sure
Sherlin :
Q1) Could you please introduce yourselves to the community and tell us about your background?
Simon Lau :
My name is Simon Lau and I’m in charge of the product and developement of TrustFi. I have 5 years of experience in full-stack development and early miner in the space of crypto assets. I used to work for MSRA（Microsoft Research Asia）in charge of distributed database.
Aryan Soni | Crypto Royals
[In reply to Simon Lau] :
I also want to be a full stack developer 💖
Simon Lau :
Our team is seasoned professionals with rich experiences across blockchain, finance and business, and committed to building DeFi infrastructures of Web 3.0.
Sherlin :
That’s great
Sherlin :
Q2) Can you please tell us about TrustFi Network in detail?
Simon Lau :
TrustFi Network is a decentralized BaaS solution for DeFi market based on multichain environment. A complete set of product portfolios developed by TrustFi, including IDO General Protocol (Which named TrustFi Alpha), Decentralized Staking Contract (Which named TrustFi Beta) and Providing Liquidity Mining model (“PLM”), which is an important supplement to the DeFi infrastructure built on Web 3.0.
TrustFi Network is committed to establishing a decentralized platform, centering on the liquidity of on-chain assets, and based on PLM model, effectively linking DeFi community governors, on-chain liquidity suppliers and investors, crypto startups, and infrastructure operators, to unlock the potential of DeFi market liquidity. By unlocking the potential of on-chain DAO, TrustFi Network will stimulate the vitality of on-chain transactions, which aims to build an equal DeFi ecosystem. Activity on TrustFi Network is governed by TFI, the network’s native token.
Simon Lau :
In short, TrustFi is BaaS solutions = IDO protocols+staking contract+PLM model
Simon Lau :
This is the work principle about TrustFi BaaS we did
Simon Lau :
Which will serve full DeFi market
Sherlin :
Thankyou for answering our questions
Sherlin :
The project seems really interesting
Simon Lau :
I would like to add one point. Blockchain-cryptocurrency startups need to bootstrap liquidity, in order to ensure profitable trading prices on DEXs and other AMM-based platforms. In this context, there is a rising demand for decentralized, integrated, cross-chain ecosystems that enable Project Owners to easily and securely conduct pre-listing liquidity auctions. At the same time, with the decline of market enthusiasm, newly issued crypto assets will inevitably face the gradual decline of liquidity, and the vitality of token value will be difficult to sustain after listing. There is a lack of simple and easy-to-use liquidity management tools to help startups lock and release liquidity, and unlock the potential of on-chain DAO to build an equal DeFi ecosystem.
Simon Lau :
We are trying to solve this problem
Sherlin :
Shall we move to the Twitter questions ??
Simon Lau : Yes please
Sherlin :
First question from Twitter :
without proper marketing and capital infusion, project dies, how do you convince us you have adequate marketing power and capital to push this project to the top project?
From : @mcgiangtien
Simon Lau :
In fact, TrustFi has already got some funds and many influencers reach us to provide support. They are willing to help us not because of the idea of TrustFi or the story, but they believe that TrustFi will truely help DeFi get better
Simon Lau :
In addition, TrustFi is also a project that can continue to generate revenue
Our staking product will launch in mid-May for the first version
Our development progress will also be open source in GitHub
What really makes us win is our product development ability
Not money or marketing
Simon Lau :
Actually, we haven’t started marketing yet, except today’s AMA
Sherlin :
That says a lot about the project
Sherlin :
Second question from Twitter :
As a community driven me a developer am interested in contributing to the project,do you have such DeFi, Staking & Yield Farming are hot topics right now. Did you make $TrustFi only for the short term because of these hot topics? Do you have a long term plan for this project?
From : @Hk25801
Simon Lau :
We have always insist in the long-term principle. We believe that DeFi is still very promising and energetic, which may be the theme for as long as many years. We try the innovation of DeFi as if we were building LEGO blocks. With the money effect, this topic will continue. We choose to start TrustFi in this direction, but also in the long-term optimistic about DeFi.
Simon Lau :
As for the plans for long term, you guys could find the roadmap in the website and I will also Open source in GitHub
Sherlin :
Third question from Twitter :
As I can see, TrustFi is busy breaking into the DeFi Space. What applications can TrustFi offer in the NFT sector? Does the you provide support for NFT developments? If so, are there already developers working on NFT projects?
From : @Monisona10
Simon Lau :
We added NFT to the staking contract, which will play a very important role in TrustFi ecological development. I won’t disclose any more here to keep it superice cuz you guys will see it next month
Simon Lau :
We are currently working with a technical team that is very good at NFT development, and they have provided us with a lot of support
Simon Lau :
We are very optimistic about the use and value of NFT in DeFi so let’s see what TrustFi will do
Sherlin :
Great
Sherlin :
Fourth question from Twitter :
Collaboration is one of the important aspect of a project to it’s huge success. So do you have plans to work with multiple projects in the near future? If so, can you tell us your future plans regarding with this matter?
From : @DavidGa6969
Simon Lau :
At present, we have received strong support from Polkadot Ecology. Polkadot Eco’s projects will be our partners and we have joined Polkadot Korea now which is built by standard protocol
Simon Lau :
Besides, BSC is another ecology that we are very concerned about. We also obtained BSC Grant at hackerlink by launching the general IDO protocol deployed on BSC
Simon Lau :
Don’t forget that TrustFi supports multi-chain environment
Sherlin :
Moving to the last question from Twitter
Sherlin
Fifth question from Twitter :
Q. It’s heard that the next phase of adoption of blockchain technology will come from Gaming, DeFi & NFT. What’s your views on this & what will be your prime focus for mass adoption TrustFi Network?
From : @hasan28d
Simon Lau :
I think it is a combination. Yes NFT Got a lot of attention but in the end, it is necessary to have suitable use cases such as games. As for DeFi, the current mature infrastructure will make DeFi stronger and stronger
Simon Lau :
Speaking of TrustFi, We will activate the whole BaaS ecology under the design of NFT, which will engage the mass in TrustFi
Sherlin :
The initiative is great
Sherlin :
Shall we move to the live session
Simon Lau :
Yes please
1) Sponsor .com :
NFT is really trending topic now in the market. So, how do Your project plan to onboard the development of NFTs and how do Your project plan to combine it with DeFi?
Simon Lau :
This topic can be talked about all day. We will integrate NFT into TrustFi BaaS in many ways. In the staking contract that will launch next month, you guys will see the first application about NFT
2) Dada5 :
Do you have a Token Burning plan to increase Token value and attract Investors to invest?
Simon Lau :
We designed repurchase and destruction. The initial ratio is determined by the core team, and then this right will be handed over to the TFI token holders
3)Mawar merah :
Does $TrustFi have a link we can use to find the latest information on your project. Is there a channel, or maybe a local community where users can get the latest information especially from the media you mention?
Simon Lau :
trustfi.org
I am mainly responsible for technology, so you could pay attention to GitHub
4 ) Dada5 :
Can you explain how is your Tokenomics Distribution? How many tokens Will be minted ? And How many tokens Will be locked by the team??
Simon Lau :
I will send a picture to explain it
Aryan Soni | Crypto Royals :
Sure please 😄
Simon Lau :
Simon Lau :
I hope it would be clear
Aryan Soni | Crypto Royals :
Exactly
5) 7 ibrahim :
Many Defi Project are vulnerable to bugs and hacking. Which Cost Investors or Stakers A Lot. How Frequent Do You Audit Your Smart Contracts?
Simon Lau :
Our open source code has completed the internal audit. After that, we will regularly issue audit reports to the code with third-party audit institutions
Simon Lau :
In fact, there is no absolutely safe contract. Therefore, when we participate in DeFi, please use some of the funds that we could bear the losses
Sherlin :
Well that was really informative
Sherlin :
We are looking forward for the success of your project
Simon Lau :
thanks
Simon Lau :
thank you for your organization
Simon Lau :
And thanks for following TrustFi
Sherlin :
Thank you so much everyone for joining us for todays session with TrustFi Network .😊
Sherlin :
[In reply to Simon Lau]
Pleasure sir
