Here’s our 86th AMA recap!

Thank you to the Infinity Chain for participating in Ask Me Anything (AMA) with CFL365 June 16, 2021. This guest star,

  • Mohammed Abbas Kazmi — COO & Co-Founder

INTRODUCTION

Mohammed Abbas Kazmi :
I am Mohammed Abbas Kazmi, the founder and COO of CFL 365 Finance

Could you please provide us with a simple description of CFL365?

Mohammed Abbas Kazmi :
CFL365.Finance is Decentralized Virtual Marketplace for Stocks and Crypto Trading, where users will be able to participate in skill based trading contests by paying with $CFL tokens and increase their portfolio based on the performace of the selected stoks and crypto in real time conditions.

May we know, why you choose numbers 365 in your project name, any history about that?

Mohammed Abbas Kazmi :
Unlike the Legacy Finance Markets that operate 5 days a week, the Crypto and DeFi ecosyetm never sleeps and is active 24/7 for 365 days a year. This also further signifies that anyone from anywhere will be able to access our project
Hence the number 365.

What makes CFL365 different? what are the highlight of CFL365?

Mohammed Abbas Kazmi :
As compared to different projects around the world, CFL 365 Finance is quite unique in the way that we have been bringing together the best elements from both the Legacy Finance and Crypto ecosystem.

Once the Users enter the contests on CFL 365 Finance with $CFL Tokens they would be getting Virtual League Balances which they could use to build their virtual portfolio (crypto and stocks) and depending on their portfolio gains and rankings they would be distributed with the rewards !

Coming to features, users on the platform will be able to make at least 100x in every leagye they participate in and there won’t be any limit on number of leagues that a user can participate at any given point of time.
Additionally, users will also be getting an opportunity to wrap their tokens into NFTs as well via our NFT partner projects.

Can you tell us about CFL365 tokenomics?

Mohammed Abbas Kazmi :
Regarding the CFL 365 Tokenomics, we have distributed the Tokens in such a manner that the commuity and the users are incentivised and rewarded for participation,
we also have allocated a portion for pre-sale for early stage backers and for the team operations.
A portion of the Tokens have been allocated for the future product development that will be incongruence with the community feedback that we will be receiving via the DAO mechanism on our platform.

What security CFL365F have taken to keep the investors and users funds secure?

Mohammed Abbas Kazmi :
Users and Investors are what constitute the lifeline of any project and their funds, security, and data privacy is of utmost priority for us.
Our dev team comprises of people who workes on Blockchain solutions for some of the top notch indtitutions in the world like JP Morgan Chase, IBM, EY etc.
In fact, we are taking every measure possible to ensure the safety so that there are no loopholes in our application and smart contracts and safe from any malicious attacks.
Additionally, we would be getting our smart contracts audited by the benchmark instituions from the blockchain space and would be testing our systems at regular intervals.

About the Roadmap, what can we expect from CFL365 in the near future, are there any new events coming up and what is being planned in the future?

Mohammed Abbas Kazmi :
So, for this quarter we are pretty much on track and our objective is to launch the First Version of the product and then conduct the IDO as soon as possible. Ideally in a week’s proximity after launch!

First version of our product will be going live in the next 2–3 weeks and it would have both stock and crypto leagues!
Despite the current market conditions, our investors are quite hyped up and intrugued by our project.
In fact, we have already closed 90% of pre public sale rounds and have onboarded some of the Top VCs and advisors from the DeFi Ecosystem.

For the Next Quarter we will be adding features such as Custom League Creation and Governance Model along with key functionalities such as the inter operability for Polygon (MATIC) and Polka Dot.

Additionally, we’ll also launch native apps for IOS and Android by the end of this year.

QUESTIONS TWITTER

As the first hybrid Stocks and Crypto marketplace, would we find pairs that mix a stock and a crypto asset?

Mohammed Abbas Kazmi :
Yes, on the CFL 365 Platform’s leagues you will find Crypto Assets, Stock Assets and a Combination as well to choose from separately.

Can you tell us how does your platform generate revenue to sustain the healthy competition in the market? For users and investors,how can we earn revenue in CFL365? Thank you

Mohammed Abbas Kazmi :
Broadly there are different ways that will not only sustain but also grow the CFL 365 Ecosystem.
- There will be League Participation fees for the users who would like to enter and participate on our platform
- League Creation fees that will be charged from those users who would like to host their own crypto competitions and inter community leagues
- The users and investors will also have the chance to NFTfy their CFL Tokens via our partner NFT platforms.

In your white paper you mention that your initial launch will be in the form of a Webapp where users select their W3 wallet at the top of metamast and initially purchase their tokens on pancakeswsp, do you plan to move to other blockchains in the future?

Mohammed Abbas Kazmi :
Yes, we do plan to be interoperable and provide access to all the users in the DeFi ecosystem.
Our platform will be built on Binance Smart Chain and will be interoperable with Polygon (Matic) an L2 Ethereum platform and Polkadot, so that we cover the majority of the DeFi and CeFi users on our platform and our tokens will be available on Pancakeswap, Uniswap and other major Dexs and Centralized Exchange Platforms.

The Tokenomics of the $CFL reflects that approximately 22.5 % of the tokens are going to “Reserves” so can you tell us under Which scenarios or cases this fund will be found? Also are you a deflationary token?

Mohammed Abbas Kazmi :
The tokens in the Reserve Portion will be utilised for the future product development of the platform as per the community feedback via the DAO mechanism. It will be upto the community to decide on how to optimise and what features to add on the platform.

Many projects burn their tokens once they reach a certain supply in order to keep the demand and buy pressure high.
We on the other hand provide CFL 365 platform users to NFTfy their tokens at regular intervals like quarterly, and at important occasions like new year, christmas etc.

CFL fund utilization says that 3 % of the funds will be used to “legal”, so can you tell us which legal application will have CFL? Licenses?

Mohammed Abbas Kazmi :
There are quite a few aspects involved while registering and operating the project, that’s were the legal fees come into play to ensure that the project and the token holding and issuance company is registered in the right jurisdiction and the investors and users get the best experience out of our platform.

QUESTIONS TELEGRAM

@shanto0091What is the current development status of your project and when is the feature expected to go live? Is there a public code or something similar, so investors can be sure there is work going on in the background and everything is legit?

Mohammed Abbas Kazmi :
For users convenience we have prepraed a detailed roadmap and have divided our Project’s developments into Quaterly Milestones:

- For this quarter our goal is to launch the first version of the product and the do the IDO in a week’s proximity after launch!
- We have already closed 90% of pre public sale rounds have onboarded top VCs and advisors from the ecosystem.
- We would be launching the product on Binance Smart Chain and in the coming quarter we are also going to launch interoperability for multiple chains like Polygon (Matic), Polka Dot etc.
- Additionally, we’d also be launching the native mobile applications for both Android and iOS by end of this year.
- We’d also be launching lottery system, where users on completing certain milestones on the platform would be unlocking some lotteries which would contain guaranteed rewards (tokens, NFTs etc).

@saddam7895How do you guarantee us the safety of our funds and data, many project despite promising utmost security, still get hacked and rugpull, how will you prevent such?

Mohammed Abbas Kazmi :
Users are what constitute the lifeline of any project and their funds, security, and data privacy is of utmost priority for us.
Our dev team comprises of people who workes on Blockchain solutions for some of the top notch indtitutions in the world like JP Morgan Chase, IBM, EY etc.
In fact, we are taking every measure possible to ensure the safety so that there are no loopholes in our application and smart contracts and safe from any malicious attacks.
Additionally, we would be getting our smart contracts audited by the benchmark instituions from the blockchain space and would be testing our systems at regular intervals.

@Loversss10What’s the uniqueness of your project that can not be found in other project that’s been released so far? give me 3 reasons why I should choose your project ?

Mohammed Abbas Kazmi :
One of the ways in which our project is unique is that our Token Holders are rewarded in multiple ways that would not only encourage them to buy more but also get rewarded in multiple ways while engaging in different leagues on our platform.
A few of the broad advantages are
– Game Mining
– Referral Mining
– Getting High APYs for holding CFL Tokens in your wallet (without any lock in period*)
– Option to Convert CFL Tokens to exclusive NFTs via our Partner Platforms and regular intervals.
We are bridging the gap between legacy finance and Crypto Ecosystem wherein users Learn, Simulate and Earn simultaneously!

@luckyboy0305Which one of these aspects is important for you?1-Increasing Token Price & Value
2-Empowering Platform Development
3-Building Community Trust
4-Expanding Partnership Globally

In what order?

Mohammed Abbas Kazmi :
All of the above aspects have an important role to play in the success of CFL 365 Finance.
Increament in the Token Price, builds the confidence and trust level of the community in the project. The platfomr development and improvement depends upon the feedback of the community. We have currently been expanding the partnerships with different Trading, Gaming and NFT Platforms.

For more new and exciting updates, stay tuned on our following links:
- Telegram : https://t.me/cfl365finance
- Telegram Announcements: https://t.me/cfl365
- Twitter : https://twitter.com/cfl365_finance
- Reddit : https://www.reddit.com/r/CFL365 (https://www.reddit.com/r/CFL365?utm_medium=android_app&utm_source=share)
- Website : https://www.cfl365.finance/

Thank you for trusting Infinity Chain as the organizer of the event today, hopefully everyone can understand about CFL365.

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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