Thank you to the Infinity Chain for participating in Ask Me Anything (AMA) with NeoNomad Finance 2 April, 2022. This guest star,
- Hanres Beukes — Co-Founder & CEO
- Ernest Jordaan — Co-Founder & Director
- Wesley Kadou — Co-Founder & Lead Developer
As a founding team we have all been investing in crypto since 2015. The three of us (JAB_NeoNomad , n4p and I) had different projects and motivations to work more closely with the blockchain and its disruptive applications since back then.
JAB_NeoNomad came from the trading, hedge fund and investment space and knew the gaps and pitfalls with traditional finance.
n4p is from the cyber security and white hacking space and I have been working on SaaS applications and alternative asset classes in agriculture for the last 7 years.
With their trading and security experience N4p and JAB_NeoNomad have been developing and building the exchange for the last 2 years and I came along in 2021 to help solve the problem of asset backed NFTs.
This is how NeoNomad evolved , from a DEX and 3 nomads with different backgrounds and experience into a ridiculously ambitious goal of bringing DeFi and new investments to the globe.
What kind of income model and profit mechanisms do you have for Investor in the NeoNomad? Can you talk about NeoNomad 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?
In the short term, NeoNomad will generate an income from exchange fees, farming fees, NomadPay, CeFi banking transaction fees, and our launchpad business model fees. These fees will enable NeoNomad to keep developing, innovating, and bringing the community new opportunities.
Our short-term focus as a team will be releasing our staking, yield farming, and liquidity pools in early April. After the launch of our DeFi products, we will be marketing NomadPad and continuing the development of our NFT marketplace where users will be able to purchase our MinDeFi and AgDeFi NFTs.
Dynamic asset-backed NFTs are the real long term differentiator. Not a lot of companies have cracked this but we are bringing an investment basket to the market where investors can spread their risk.
Imagine being able to invest in gold, silver, crypto, a cow or blueberry bush all in one place. A lot of these investments are long term (10+ years) with lower risk and volatility.
The image below is a great illustration of where a lot of these dynamic NFT assets will come into — the low risk and high reward quadrant.
What is the NeoNomad token? What are the utility in your ecosystem? What are the benefits of holding your token as long term investment?
We aim to develop a high-trust parallel ecosystem where Nomads can manage their finances without being bound by borders and restrictions. We envision a world where everyone can access the financial services they need, and we have built our ecosystem with this goal in mind — a token to be used everywhere and anywhere.
Our goal with our token and the utility for it is a follows.
The existing Dapps and DeFi tools:
Decentralized crypto exchange where users can buy, sell, invest and trade cryptocurrencies; stake and farm their token.
For the long term HODLrs the benefit is a payments service that enables fund transfers and payments at the point of sale with an integrated VISA card; and an NFT marketplace providing NFTs that are backed by agricultural, gold and silver real-world assets.
Oh and don’t forgot our NomadPad launchpad where we will bring new asset backed crypto projects to the market
What actions has NeoNomad taken to keep users/investors secure? How to convince investors that NeoNomad is safe? Has the NeoNomad been audited?
We have security experts on our Dev team who have extensive experience in white hacking, which equips them with the security skills required in the DeFi space.
In addition, we are following the advised route of getting everything audited (code as well as smart contracts) with a reputable company like Certik and Slowmist. We also have a bug bounty program that will incentivize users to report any bugs to us.
For our IDO participants we have a buy-back mechanism in place.
In short, NeoNomad has well respected partners and advisors to assure we maintain the most thorough security measures and systems possible.
Please inform NeoNomad roadmap and also what phase is currently taking place? What will happen in the near future ?
We recently finished developing NomadPad, and we are excited to be launching our IDO on our own launchpad!
We will also be launching several services directly after the IDO to give our Nomad community as much value as possible right from the start — swapping, staking and yield farming will therefore launch only a few days after we list on NeoNomad Xchange and Xt.com on 8 April 2022!
We’re also looking forward to launching NomadPay in the next couple months.
And one of our biggest feature launches for 2022 will be our asset-backed NFTs! We plan to launch our AgDeFi and MinDeFi NFT projects in June/July. We’ll also be launching our CeFi dashboard which will provide a one-stop-shop where you can monitor all your investments.
You can find more details on our roadmap at this link :
NeoNomad is a decentralized exchange based on Solana. Why did you choose to base your platform on Solana instead of some of the other good options on the market, such as BSC?
Solana is the fastest blochchain currently out there with 65,000 tps (transactions per second) and fees as low as $ 0.01. It’s the fastest growing blockchain and ecosystem in crypto, with over 420 projects spanning DeFi, NFTs, Web3 and more. With 400 millisecond block times, as hardware gets faster, so does the network. This enable NeoNomad to scale into our ambitious EcoSystem, knowing that our base is covered in terms of infrastructure.
In addition to we believe that SolanaPay will fast track more innovation, development and adoption for our NomadPay solution.
According to this Cointelegraph article:
“Solana Pay for easy transactions, just as traditional retailers can implement it if they have a Solana wallet. That accessibility is why many compare Solana to PayPal, stating that Solana can do for crypto payments what PayPal did for traditional online payments.”
Here is the link for reference > https://cointelegraph.com/news/what-is-solana-sol-pay-and-how-does-it-work
NeoNomad is a decentralized exchange. However, most decentralized exchanges have a number of common problems including; low volume, low liquidity levels and poor user experience. What did NeoNomad do with these problems? How does NeoNomad plan to address the listed issues?
With JAB_NeoNomad’s trading experience NeoNomad has a professional end experienced Market Making team. We are bringing in liquidity providers and community rewards to incentivize users to to stake tokens in our liquidity pools and yield farming. By doing this, liquidity levels are kept high, which in turn increases trading volume and improves user experience.
And of course by bringing great projects to the table and having the right marketing partners we will continue to drive the value of our coin and onboard a bigger community.
I want to know more about NOMADPAY. So what is the use of this NOMADPAY? How can we access NOMADPAY? What can be purchased with NOMADPAY?
There is a bit more to NomadPay than meets the eye..
NomadPay enables users to make both crypto and fiat payments in a variety of ways.
- Make effortless crypto payments using NomadPay powered by Solana Pay.
- Spend the crypto in your DEX wallet at the point of sale in the real world with the NomadPayX card. The NomadPay card will work with most merchants that accept a Visa/Mastercard.
- NomadPay VAULT is NomadPay’s eBank, which enables users to spend and receive both crypto and fiat currencies. With NomadPay VAULT, users can also request SEPA/SWIFT payments.
I was intrigued from NeoNomad Finance’s “Asset Backed NFTs” because it will include precious metals like gold, silver into its structure. Can you please explain to us how does your precious metal NFTs work? How would you be able to determine the valauation of these NFTs?
We have a couple of mechanisms in place. For the actual price of the value of the gold or silver we are using Chainlink price feeds to determine the minimum asset backed value of the NFT.
Furthermore collaborating with artists to create unique NFTs around these gold/silver NFTs will drive a further evaluation.
The rest of the mechanisms in place for how such an NFT will work, are as follow:
The South African Gold Exchange will issue a certificate that will be linked to each NFT. Daily vault audits of the gold and silver holdings will be conducted by integrating with Chainlink to provide a daily “proof-of-reserve” feed.
You can also request physical deliver of your gold and silver bars globally; by requesting the physical delivery the NFT will be burned..
Your IDO will be held on April 6th. So can we join IDO, do we need to be whitelisted first? Tell us what are the requirements to join IDO? Is there a min/max purchase limit at IDO later? And when will the tokens be distributed after the IDO is over?
You heard right! 🤩 Our IDO will be held on 6 April 2022.
1. NomadPad > https://app.neonomad.exchange/launchpad/
6 April @ 21:00 (UTC+8) — 7 April @ 21:00 (UTC+8)
Allocation: Min 100 USDC, max 1000 USDC
Here’s our whitelisting guide >https://docs.neonomad.finance/neonomad-documentation/general-guides-and-announcements/nomadpad-a-whitelisting-and-ido-guide
You can always join our TG community if you have any further questions for whitelisting.
plz sir, Do you have any..
1- Telegram Group
3- Tiktok Channel
For this project? What Social media Can I follow to get the latest Your Project information? Thaks sir
Hi, here are all our social links 😊
Twitter — https://twitter.com/NeoNomadFinance
Telegram chat — https://t.me/neonomadfinance
Telegram announcements — https://t.me/neonomadannouncements
Discord — https://discord.com/invite/Fj77EYcTNH
LinkedIn — https://www.linkedin.com/company/neonomad-finance
Facebook — https://www.facebook.com/NeoNomad-Xchange-107804888484297
Instagram — https://www.instagram.com/neonomad.exchange/
Reddit — https://www.reddit.com/r/NeoNomadFinance/
Medium — https://medium.com/@NeoNomadFinance
Youtube channel: https://www.youtube.com/channel/UC_xQFH_TCyBH-Miy76VaWDQhttps://www.youtube.com/channel/UC_xQFH_TCyBH-Miy76VaWDQ
Are you afraid some day there will be another project with more innovative technology can replace your project ?
The team at NeoNomad believes that competition is good, it always helpes us to attact the “white space” in the market that competitors sometimes miss. We also believe that a culture of persistance and curiosity will help us constantly innovate and evolve to keep us ahead. We also look at certain core values regarding our culture when we recruite.
Do you have AUDIT certificates??
are you working to AUDIT your project, to make it moe secure and reliable ?
We have security experts on our Dev team who have extensive experience in white hacking, which equips them with the security skills required in the DeFi space. In addition, we are following the advised route of getting everything audited (code as well as smart contracts) with a reputable company like Certik and Slowmist. Our contracts will be audited in the next few weeks as our development team are adding a few new products. We also have a bug bounty program that will incentivize users to report any bugs to us.
What are your plans in the future so that your project will continue to exist with the times?
It provides “true productive farming” by providing unique NFTs linked to physical agricultural assets on your site, it says. What are physically mentioned agricultural assets? How can real farmers benefit from this project?
First of all the agricultural assets we have in the pipeline are:
🌾Pecan nut trees,
🐮 Dairy cows & beef cattle
Real farmers can benefit from this by having a direct marketplace where they can sell their assets without the need to go through 3rd parties like banks and brokers. This will safe them fees and cut the time to market for selling these assets.
Additionally incentives like carbon and regenerative farming will benefit both the farmer and investor to provide this new asset class to the crypto community.
Thank you for trusting Infinity Chain as the organizer of the event today, hopefully everyone can understand about NeoNomad Finance.
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.