CryptoFury x Alga Finance
⏰ Time: Nov 16th , 12:00 PM UTC
💰 Reward Pool : 100$
💎 Place : https://t.me/CryptoFury_Chat
Question for Part 1- Project overview:
- 1/ Can you briefly introduce yourself as well as ALGA? And from where you get the project name? What does it mean to you? And why you choose this name for your project? What is your mission and vision to build this project? What you want to achieve Through your project in future?
Vinicius Vendetta : My name is Vinicius and I represent marketing department of Alga Finance. Nice to meet you
It is the on chain ecosystem which contains 3 huge blocks:
1) index derivatives trading platform
2) educational platform for traders
3) social network for traders
Regarding the naming — quite an interesting project, our team is based in Dubai. As well as the legal entity
Alga means “forward” from Tatar language, because our founders have Tatar ancestors, So our plans is only to go forward, that’s why it is Alga Finance
Our mission is simple, we see how young the market is and that majority of people still don’t understand how to save their money and earn on crypto, we want to bring them a useful and simple tool to avoid the majority of the risks and this is indexes because from our point of view
it’s the simplest tool to enter the market when:
1) you don’t have time to follow your positions 24/7
2) you want to start from small things and move to bigger ones after you reach some knowledge from there we can correlate to the second huge block on the platrorm — trading education, as far as person become comfortable with indexes, he can move to education to start trading by himself
BTW, one of the Founders of Alga Finance is quite famous trader — Rast Pentagon. He just finished his first educational course called DYOR with 1200 people on board and they already achieve significant results in their performance. This will be the basis for the educational block, third — social network people achieve greater results when they are communicating a lot of time with same-minded people, so the social network will be very useful for that purpose
- 2/ Is ALGA a safe and reliable platform for investors? What value does ALGA bring to investors and the blockchain community?
Vinicius Vendetta : Value is very simple: Alga is an ecosystem which will allow you to save and earn in every market conditions: no matter bullish or bearish. After allowing to do that with the help of the index derivatives trading platform, the ecosystem has a possibility to teach anyone how to do it by himself.
- 3/ Who are ALGA strategic investors? And what is ALGA roadmap to 2023? What is your ultimate goal for this year?
Vinicius Vendetta : well, to be honest, we are going to launch the platform in production very soon and we did all the developments without any fundraising or smth, but we have a goal to launch our own token in order for our ecosystem to be completed, and now we are in ongoing conversation with some strategic investors, which I can not disclosure right now because of NDA
Our roadmap for 2023 — polish all the processes on the platform, we are starting only with index derivatives trading functionality. So in 2023 we will finish the educational and social blocks, among with conductins several partnerships, primarily with the leading CEX. Ultimate goal is to build good and active comminity of like minded people around our product 🙂
If you want to dive deeper to our roadmap, feel free to visit https://alga.finance/
Part 2: Pre-selected questions from our community
- 1/ What are the competitive advantages of your project? What advantages do you have that other competitors don’t have? What would be your project secure most similar contender in the market today in terms of scalability, security, features & adaptability?
Vinicius Vendetta : Our competitive advantage is simplicity.
From the beginning we have 5 base indexes on the platform, made by out top traders, who are really professional on what they do. Even if the market is a bloodbath, index will decrease dependance of your portfolio from that.
There are only one competitor in the market, but it is 100% DeFi solution, with all following risks:
Anyone can launch and list the index, and after that simply dissapear with the liquidity or can be hacked through smart contract vulnerabilities, the most vital solution on the market, how we can see from experience is a mix between CeFi and DeFi, such as BNB Chain for example. Remember exploit 2 month ago, when they simply stopped the chain and made nano fork — they protected huge ecosystem, as well as protected their users funds
Almost all 100% decentralized solutions existing on the market can’t solve such issues, and when it happens — they simply sink
That’s our vision
- 2/ Which market are you focusing on? How do you rate the Vietnam market? Do you have any plans to develop in the Vietnam market?
Vinicius Vendetta : I’m pretty sure that you aware that crypto hasn’t strong geographical tie.
But mainly we are focusing on arabic markets and Asia because we see a lot of potential there, a lot of crypto users and growing economics
Sure Vietnam is also one of the priorities
- 3/ What is the token’s role in the ecosystem? Where can people buy right now? What will it do? Is your platform suitable for Crypto beginners? Or is it limited to professional users only?
Vinicius Vendetta : It will be used for unlocking several features:
1) To form and vote for the new indexes implementation
2) To pay for educational materials
3) Unlock different features in social network
There is no place to by it yet, so stay tuned for updates and follow our socials
During this AMA I already answered to the last part of the question. Yes our platform is the most suitable for crypto beginners 🙂
- 4/ Almost 80% investors have just focused on price of token in short term instead of understanding the real value of the project. Can you tell us on motivations and benefits for investors to hold your token in long term?
Vinicius Vendetta : It’s true. We are not in force to change the speculative nature of people. There are investors and there are speculants. Just look at our team background and this question will be answered by themselves 🙂
- 5/ Users often care less about technology, but rather the value of the token. How do you manage to strike a balance between developing the technology and also improving the value of the token?
Vinicius Vendetta : As for technology — it is fully on the side of platform and integrations which is already almost done 🙂 Regarding the token — we have a team of trading professionals and implement mechanisms of buyback and burn as soon as platform will start to become profitable 🙂
Question for Part 3: Guests will choose 5 live questions from members and answer directly in CryptoFury Community
1/ TOTENHAM HOTSPAR : Ambassadors play a very important role in every project, Do you have an ambassador program? If yes, how can I be one ?
Vinicius Vendetta : Yes we are making ambassador program in order to enforce community building process, we will share details sooner. Thanks for your question
2/ 𝗠𝘂𝘀𝘁𝗮𝗳𝗶𝘇𝘂𝗿 𝗥𝗮𝗵𝗺𝗮𝗻 : Do you have AUDIT certificates? Or are you working to AUDIT your project, To make it more secure and reliable ? Please this question answer?
Vinicius Vendetta : Hello, the security audit is in progress 🙂 thanks for you question
3/ 𝐇𝐞𝐚𝐝 𝐋𝐨𝐜𝐚𝐭𝐢𝐨𝐧 : What do you have?
1️- Telegram Group
2️- YouTube Channel
FOR this project , where can I get the latest information and what is the latest plan for your project?
4/ 🌷𝙍𝙖𝙞𝙨𝙖 𝙇𝙖𝙢𝙞𝙡𝙖🌷: Do you allow suggestions and feedback from the community? Are we allowed in decision making, do you put community into consideration?
Vinicius Vendetta : Sure, community opition is our first priority 🙂 thanks
5/ 🌷𝙍𝙖𝙞𝙨𝙖 𝙇𝙖𝙢𝙞𝙡𝙖🌷 : Do you have tutorial videos so we can get to know your project more clearly or do you have a YouTube channel or something? can you share it with us?
Vinicius Vendetta : We were focusing on the platform completion, now we are smoothly moving to this tasks too in order to guide people how to use Alga Finance
- ❗️Seems like there’re many things to exchange, but I’m afraid the time is up now. For all of the questions that have not been answered yet, guys feel free to search for more information on the links provided below: