Thank you to the Infinity Chain for participating in Ask Me Anything (AMA) with EFT Fan Token 30 March, 2022. This guest star,

  • David JCOO
  • KrishProject Head

Introduction

Crypto MK,
I am Krish, Project head of EFF , EFF stands for EFT Fan Token. I am a Tech Entho and inspired by BTC and ETH a lot, which forced me to be in Crypto.

David J,
My name is David the Chief Communications Officer at EFT Fan Token. We really appreciate being on the Infinity Chain AMA today. We look forward to your questions and the opportunity to provide more details about our project.

EFT Fan started after being inspired by the great work of the project ETH Fan Ecosystem and we wanted to create something to further support that project.

I got started in crypto as a casual investor in 2014. I have stayed very active in the space and most recently was introduced to the project team at EFF and had the opportunity to join their team.

QUESTIONS MODERATOR

What kind of income model and profit mechanisms do you have for Investor in the EFT Fan Token? Can you talk about EFT Fan Token ecosystem, do you have the features that can attract users and invest, can you talk about your differences that allow you to stay in this market for a long time?

David J,
EFT Fan Token income model is in the form of a 4% dividend. We allocate 4% from our buy and sell transactions to reward our holders with a dividend. This dividend is currently set to pay out to our holders in the form of ETH Fan Token. This was the token that was our inspiration for establishing EFT Fan Token. This dividend is paid out in proportion to the number of EFT Fan tokens in a holder’s wallet. ETH Fan Token then rewards its holders with Binance Pegged Ethereum.

We also introduced a burn mechanism as part of our smart contract that will burn EFT Fan Token. By allocating 1% of every buy and sell transaction to the burning of EFT Fan Token, we are making the product deflationary, which also means that a holders % of the dividend allocation will go up over time as fewer and fewer tokens are in circulation.

What is the EFT Fan Token? What are the use cases in your ecosystem? What are the benefits of holding your token as long term investment? Also share with us about your tokenomics?

David J,
EFT Fan Token is available on the Binance Smart Chain and is a dividend paying token. As a ‘fan’ of the ETH Fan Token Ecosystem, we also contribute to their success by allocating 1% of our buy and sell transactions to the burning of EFT Ecosystem.

We have many use cases under development, but by far our most exciting is the ETH Lottery! This is already implemented and our first lottery drawing is Friday April 1st. This lottery will have a max payout of $5,000 on a weekly basis.

To be eligible one must own 10 million EFT Fan Token for a minimum of 5 days preceding the lottery drawing. The lottery is funded using taxes from our transactions fees. 1% of all transactions is contributed to the lottery pool.

By investing in EFT Fan Token, long term holders are rewarded through passive income in the form of another token, currently set to pay holders in ETH Fan Token Ecosystem. Holders are also rewarded on a weely basis with the chance to win the ETH Lottery and our deflationary tokenomics support a price floor.

Our full tokenomics include a 12% buy and sell transaction tax — this is comprised of 4% holder dividends; 1% Buy/Burn of ETH Fan Token Ecosystem; 1% EFT Fan Token Burn; 3% Marketing/Promotion/Dev; 2% Auto Liquidity; 1% ETH Lottery Pool.

What actions has EFT Fan Token taken to keep investors secure? How to convince investors that EFT Fan Token is safe? Has the EFT Fan Token been audited?

David J,
EFT Fan Token puts investor safety and the forefront of all that we do. This started with bringing in a highly respected Contract Development Consultant that assisted us in the development and launch of our smart contract. Our consultant guided our development efforts to ensure all critical functions were developed in a safe and secure manner. This guidance assisted us in our audit as well, we completed our audit with no issues found.

Can you shared EFT Fan Token roadmap? What are some major milestones achieved EFT Fan Token so far?

David J,
We completed a very successful launch this past Saturday. Our first lottery was announced this week, just two days after launching our token we introduced our first utility. This first drawing will be held on Friday April 1st and every Friday after that. We have many more exciting use cases are part of our roadmap, we have a SECOND lottery offering, staking, P2E games, and a NFT Marketplace.

QUESTIONS TWITTER

You at EFT Fan Token have burned over 700 million EFF tokens since its launch less than 48 hours ago. Do you plan to maintain such a high burn volume consistently on your platform? What are you pursuing with this strategy?

David J,
Thank you for that question, we currently allocate 1% of our buy and sell transactions to the burning of EFT Fan Token, making it deflationary and reducing the overall supply.

The great thing about EFT Fan Token, is that our smart contract is designed with incredible flexibility. We can redistribute any of our tax allocations to other portions of the smart contract. This allows us to raise or lower components of our taxes depending on demand from the community. We also have two tax categories currently set to zero for gaming and staking — again our contract was developed with flexibility and future utility in mind.

So while we have the $EFF burn in place today, it may not always stay this way and our smart contract would allow us to reallocate that tax to another tax category such as additional dividends to our holders or future lottery offerings.

Crypto MK,
Basically, EFF contract is all in one contract.

EFT Fan Token win Ethereum in the weekly lottery offer. What tool allows them to show transparency in this lottery? How much Ethereum do they distribute? How many winners do you select weekly?

David J,
Our lottery has an incredible dashboard which will show full transparency. The dashboard allows holders to check their eligibility for the lottery, and see which wallets were the winners. The drawing will be done live each week to further show transparency to the community.

Currently our smart contract allocates 1% of all buy and sell transactions to our lottery pool. The weekly maximum prize amount is $5,000 in ETH and 15 winners will be chosen…but again, just like our tokenomics, our smart contract is flexible so that we can increase the total prize amount or the number of winners.

I saw on your roadmap that EFT Fan Token will be developing its own NFT marketplace and NFT staking products. By this, will EFT Fan Token be introducing soon its own NFT series/collections? If so, when shall we expect your NFT to drop/mint?

David J,
NFTs certainly are an exciting opportunity and the EFT Fan Token team has some big plans to introduce them into our token. At this time, I can’t comment on any additional details but we are a very transparent team and will communicate updates as they are available with regards to NFTs.

Partnerships are some of the most important cornerstones to help increase adoption. Can you tell us about EFT Fan Token current partners or any planned partnerships? What kind of ideal partner do you need?

David J,
Partnerships have been a critical success factor from day one for EFT Fan Token. Our team was inspired to create this product and contribute to the success of ETH Fan Token Ecosystem. They were gracious enough from Day 1 to offer their founding developer as a consultant to make sure our smart contract development was done in a safe and secure manner. This partnership also helped ensure we had an incredibly successful launch.

Ideal partners are those that drive value to the communities in which they support. We have many wonderful utilities planned and are open to partnerships that will return value to not only our holders but those of our partners to. This was the foundation of our partnership with ETH Fan Token and we have seen some incredible results. Our smart contract has already rewarded our holders with close to 2 Trillion ETH Fan Token dividends…which in turn reward them in ETH dividends.

In addition we have helped burn over 400 billion ETH Fan Token as a show of our support for the partnership.

So many projects just like to speak about the “long term vision and mission” but what are your short terms objectives? What are you focusing right now?I am interested to invest in Your project. Where & When can I buy Your Tokens? Is it already listed exchanges?

David J,
We are just 4 days olds, so we have a lot of focus on marketing and spreading the word about our amazing project. We greatly appreciate opportunities like we have today, to share our project details with Infinity Chain.

We are available for trading today, on Pancake Swap. You can find all of our contract details on the website EFTFan.club, Twitter or visit us on our Telegram channel.

While we love the idea of an exchange listing, it is too early in our project to begin discussing. We first want to develop out our roadmap and utilities which will return value to our investors.

QUESTIONS TELEGRAM

Can you list 1–3 killer features of your Project that makes it ahead of its competitors? What is the competitive advantage your platform has that you feel most confident about?

David J,
The first great feature is the contract itself. It was designed with investor safety in mind but also extreme flexibility and growth. It allows us to adapt to the market by introducing new utilities and making updates to existing offerings. The lottery pool is the second great feature which enters holders into a weekly drawing for up to $5,000 on ETH rewards. Finally our well thought out roadmap provides a clear picture of where this project is going and the flexibility of the smart contract allows us to bring a multitude of utilities online.

Do you allow suggestions and feedback from the community? Are we allowed in decision making, do you put community into consideration ?

David J,
Yes we always welcome community engagement and hold regular AMAs to keep a clear and transparent line of communication open with our investor community.

Is your project only for elite investors, what about others with small funds, is it open to everyone??

David J,
This project is for everyone! Since we trade on the Binance Smart Chain our investors avoid expensive gas fees. We also offer a dividend that is a great way to earn passive rewards that can be used to reinvest in our token, compounding your investment to grow further.

1. Are you competing with EFT or promoting it?
2. What’s the difference between EFF and EFT?

David J,
No we are not competing with EFT, we formed EFF to support the ETH Fan project. Our tokenomics support that project by buying and rewarding EFF holders in EFT. We also allocate a portion of our buy and sell fees to buying and burning EFT. This is a fantastic way to further diversify your holdings while earning passive Ethereum and having a chance to win a share of up to $5,000 in our weekly lottery just by holding.

How strong is your team? Many projects starts with good impression and later abandoned the project. What makes your project different than others? Sir Places Tell me

David J,
We have a dedicated and professional team that has been in the crypto space for many years. This team was formed to create a new and exciting offering in the market and grow everything we do around our one central token EFF. We are not introducing new tokens, only new utility that will further drive value to our holders. We have a well defined roadmap that we are excited to execute on.

Telegram Chat | Telegram Channel | Twitter | Website | Reddit | PCS

Thank you for trusting Infinity Chain as the organizer of the event today, hopefully everyone can understand about EFT FAN TOKEN.

Join our Telegram Group and you can talk directly with other Communities and enjoy some of the events that we created. We are always here to support.

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