Thank you to the Infinity Chain Club for participating in Ask Me Anything (AMA) with ETFx on November 27, 2020. This guest star,
Jacob — CEO Financial Specialist
Here’s our 14th AMA recap!
We are glad to meet here :
Jacob — CEO Financial Specialist
Introduction
Jacob | Financial specialist,
My name is Jacob, I’m 29 years old, I come from Western Europe.
By profession I am a senior investment specialist at the Bank and the CEO of the ETFx project.
I have been dealing with cryptocurrencies since 2015, I have helped many companies implement them into their systems.
This year, together with my team, we decided to create our own project.
Q1. Can you please describe what is ETFx Finance to our Community?
Jacob | Financial specialist,
We explained this in detail in our first medium article.
However, I will try to present it in a few simple words.
ETFx Finance is totally new idea on cryptocurrencies market.
Our main point is to bring classic ETFs to the DeFi world.
ETF is simply baskets with many cryptocurrencies, with their average value.
Such sets allow to increase the investment income and minimize the possible loss.
Because you don’t need to buy each cryptocurrency separately and their price is averaged.
Q2. What sets ETFx Finance apart from other platforms that makes it stand ahead? what is unique about ETFx Finance?
Jacob | Financial specialist,
As i said earlier.
What distinguishes us mainly is the whole idea of ETFs. ETF token holders will be able to purchase on our platform these ‘cryptocurrency baskets’ that I wrote about earlier.
ETFs will have the average price of the tokens in them. This allows us to minimize the risk of loss after the investment, and ultimately increase the profit on this investment, especially during the bullmarket.
It is also very useful for new members of the crypto world who do not know exactly what to invest their money in. By buying one ETF, they invest in 4 assets.
Also after Governance token release, holders will be able to chose the composition of the ETF(which cryptos will be included.)
Q3. Can you describe private sale and the public sale ETFx?
Jacob | Financial specialist,
Our presale is simple. It will be held in two phases:
1) Private sale.
Private sale starts 28.11.2020 at 10:00 GMT+1.
Private sale will have place on our telegram group thru smart contract, only for 24 hours or reaching priv sale hardcap(400eth).
2) Public sale.
Public sale will start just after Private sale finish, at the latest 29.11.2020 10:00 GMT+1
Public sale will have place on our website https://etfx.finance
It will last a maximum of 7 days or or until ‘hardcap’ is achieved.
Jacob | Financial specialist,
All Unsold tokens will BURN 🔥🔥🔥
Jacob | Financial specialist,
Our hardcap for Public Sale is 1500 ETH, to be clear.
Q4. What are the major utilities $ETFx token, how does it capture value and appreciate over the long term? how much supply is available?
Jacob | Financial specialist,
I will answer the first part of the question briefly
ETFx utilites:
-Farming
-Possibility to buy ETFs
-Possibility to exchange for governance token (soon)
Jacob | Financial specialist,
When it comes to value in the long run, it’s simple. The entire supply of tokens is 1 million pcs.
We plan to cyclically burn tokens, which will result in their lower availability, it is logical.
Remember, however, that the main product ETFs will be available for purchase only for ETFx.
So if someone wants to use our main product, he will have to have an ETFx, in addition, we are now entering the bull market, so having at least one packet of ETFs can give you a cosmic profit.
Q5. What is target that ETFx Finance wants to achieve by end of this year?
Jacob | Financial specialist,
Our main point is to fully finish our platform for ETFx exchange. Im sure we will achieve that before end of the year. We are also in contact with two CEX exchanges, and we hope that listing will have place in this year ;)
Jacob | Financial specialist,
As for the beginning of the new year, we want to release the governance token. And make a plan for the future with the holders.
TWITTER QUESTIONS
Q1. ETFX public sale is scheduled to last 7 days or there are 2 pharses until HARDCAP is reached, what will happen if it is not reached in 7 days, will it affect participants to reduce the token price? How do you solve this problem?
Jacob | Financial specialist,
Its really simple but good question.
If we wont reach Hardcap for public sale we will burn tokens which have left.
This will be good news for participants as the availability of the token for purchase will decrease at the very beginning, making it more unique.
Jacob | Financial specialist,
If you are asking for a listing, it will not be affected.
Q2. ETFx pre-sale will start on November 28, 2020. It explained that unsold token will be burned, does token burning require a certain number or all unsold tokens?
Jacob | Financial specialist,
There is totally no requirements for tokens burning.
We can burn every amount of tokens.
If there is 5 left, we will burn 5. If there is more, better for us 🔥🔥🔥
Jacob | Financial specialist,
The only thing we have to decide on together with our community is how many tokens and how much time we burn.
Jacob | Financial specialist,
If community prefers burning 1% of burn pool every week, we will do it :) no problem
Q3. “The project we are working on is a response to the modern monetary ecosystem that is currently under construction in front of our eyes.
We want to be part of it and with our knowledge we decided to create ETFX”. Who is the project AIMED at?
Jacob | Financial specialist,
The project is made for literally everyone, which I think makes it special.
Everyone will find something for themselves here. Investors running classic businesses, forex traders, crypto traders and most importantly — the average person.
Jacob | Financial specialist,
You do not need specialist knowledge, together with our community, we will create the best ‘cryptocurrency packages’ in our opinion. This will allow you to invest easily, and the number of properly selected assets in one ‘bundle’ will minimize the risk.
Q4. Can you describe the voting model on the ETFx Platform? How transparent is this process?
Jacob | Financial specialist,
The voting model on our platform will be a classic governance token.
Everything will be fully transparent as voting will be done ‘in a smart contract’.
Of course, we will add a suitable voting platform to our website, where everyone will be able to check the results on a regular basis without consulting a smart contract.
Jacob | Financial specialist,
Each token holder will have their ‘voting power’ depending on the number of tokens they have.
Jacob | Financial specialist,
And to be clear, you will not have to buy governance token, after deploying it will be automatically transfered to our biggest holders.
Q5.What benefits would come if I held $ETFX instead of buying and selling immediately when it came to profiting for my own gain? Will the price decrease significantly as long as I hold it and burn all that $ETFX?
Jacob | Financial specialist,
In our project, the ETFx token is the ‘entry’ to all our products.
ETFx token holders will be able to participate in farming, and in the future they will decide on the direction of the project development.
And as I mentioned several times they will be able to buy ETFs which will be the most profitable product, especially during bullrunning.
Jacob | Financial specialist,
In addition, we have planned funds for cyclical repurchases of cryptocurrencies from the market. This, combined with burning tokens, will help us keep the price at the right level in the event of unexpected market movements.
Jacob | Financial specialist,
Selling etfx at the beginning is like selling a golden key, which for many is worth only because it is golden, and actually opens all the locks of the world.
TELEGRAM QUESTIONS
Q1. From Bit Token
What’s you mean , As for the beginning of the new year, we want to release the governance token. And make a plan for the future with the holders.
Jacob | Financial specialist
What do you mean “by your biggest holder” And to be clear, you will not have to buy governance token, after deploying it will be automatically transfered to our biggest holders.
These are two questions about our Governance token, so i will reply in one.
Governance token is still in preparation stage, thats why we dont have specific numbers.
I believe after presale ends we can discuss this with our community, and decide how much tokens will be enough to take part in governance voting.
Q2. From Abdullah
“ETF is simply baskets with many cryptocurrencies, with their average value.
Such sets allow to increase the investment income and minimize the possible loss.”
How would ETFx finance increase the investment income and minimize the possible loss?
Jacob | Financial specialist
Its simple math.
For example, we have 4 tokens in one ETF.
-A token with price 5$
-B token with price 5$
-C token with price 5$
-D token with price 5$
So our ETF price will be average of those = 5$
Then if two first tokens will dump to 4$, but another two will bump to 6$, we are not losing any money. — because price of ETF is average of those 4
Its great at bullrun, because when all tokens are pumping, we are earning average growth, which almost always will be bigger than separated grow of each asset
Q3. From Forte
What exactly motivated you to create the ETFx Finance project ?
Jacob | Financial specialist
We are a very experienced team, we have been working for years in classic financial systems. We have learned about the possibilities offered by cryptocurrencies and blockchain. We felt we needed to combine the best of these two industries and give them to you.
We believe that the combination of ETFs with DeFi markets will allow for easy and effective investments.
Q4. From Jade
⭕️10 % of the total supply is destined to something called “ outsorcing” I am not a expert to what do you mean with that? And How this help you ?
Jacob | Financial specialist
Outsourcing are additional tokens for various events. Airdorps, promotions, burns, rebuys etc.
Q5. From Mr X
What is your strategy for building a strong community? Does ETFxFinance agree that the power of the community will lead your project to grow globally? What services do you provide to the community?
Jacob | Financial specialist
Yes, we agree with that in 100%.
Thats why we will not decide about anything in this project alone in future.
Thats why we will deploy governance token in future.
We are building this project for people, so we want them to help us and tell what they need ;)
Q6. From Yona ™️®️©️ VBk
partnerships are essential for Adoption and popularity, as well as project progress, so can you tell us what partners ETfx Finance has now and in the future?
@etfxjacob
Jacob | Financial specialist
Our biggest partner atm is Dextools.
I can only reveal that now we are talking to two big exchanges.
Jacob | Financial specialist
One of them is big Asian exchange :) probably you will know which one. Cant tell more
- Telegram : https://t.me/etfxfinance
- Twitter : https://twitter.com/ETFxFinance
- Medium : https://etfxfinance.medium.com/
- Website : https://etfx.finance/
Thank you for trusting Infinity Chain Club as the organizer of the event today, hopefully everyone can understand about ETFx.
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