TELEGRAM AMA: Im Community & BITLOCUS 🐋
⏰ AMA Timing : 20 January 2022 l 01:00 PM UTC
Venue For AMA : https://t.me/imcommunityitw

🎁 Reward Pool 100 USDT

➡️ The reward pool for the best 5 questions from Telegram is $50($10 Each) 💸
➡️ The reward pool for the best 5 questions from Twitter is $50 ($10 Each) 💸
Bà Tân | :
Welcome @artb01 from BITLOCUS

Bà Tân | : Welcome everyone. Today Im Community will host AMA with BITLOCUS

Bà Tân | : Today our guest is: @artb01 from BITLOCUS

Ahrix : Welcome @artb01 to the IM community.

Bà Tân | : Please introduce yourself a bit @artb01 ���

Arturas (Never DM you first) : Me — Arturas Bobinas (CBDO) I have over 15 years of experience in sales, marketing, e-commerce and project management. Joined crypto space back in 2017.

Arturas (Never DM you first) : And I’ve been with Bitlocus since the begining of it in 2018

Arturas (Never DM you first) : DONE

Bà Tân | : Thanks for the introduction.

Bà Tân | : Today’s AMA will have 2 session

Session 1: Project Introduction

Session 2: Free Asking (will choose 10 question)

Bà Tân | : Start session 1 AMA.

Bà Tân | : Q1. Can you briefly describe what is Bitlocus ? We would like to know more about it and how it works. @artb01

Arturas (Never DM you first) : Originally Bitlocus started as crypto-to-fiat CEX which has been established back in 2018 and features all main processes we will conveniently utilize for our CeDeFi platform as well: crm, cms, kyc/kyb, aml, crypto and fiat payments processing (in sepa and swift).

What we have fundraised for is our CeDeFi project or the “DeFi investments platform for fiat-based users” will be built on top of Bitlocus CEX as a service layer basically.

All interactions for the end user (fiat-based client) are in fiat and only over our platform. That mitigates quite a few risks and makes investments into DeFi both compliant and really easy even for the non-crypto savvy users.

DONE

Bà Tân | : Q2.What services does the Bitlocus platform provide to users?

Arturas (Never DM you first) : CEX is up and running since 2018. Under CEX we also have some products too (https://bitlocus.com/products)

But the main product now is our CeDeFi platform: “DeFi investments platform for fiat-based users” which will actually allow crypto investors too :)

The main idea is to help people easily earn DeFi yield in a simple, compliant and risk mitigated way

DONE

Bà Tân | : Q3.What are the economic benefits of the $BTL Token?

Arturas (Never DM you first) : Main utilities are:

⁃ attend and earn rewards on liquidity mining and guarantee fund staking programs. More info here: bitlocus.com/earn

⁃ get reduced rates for our CEX’s fees

⁃ (new to Bitlocus roadmap) stake-to-access utility where clients will be able to qualify for one of a few tier levels that will open up an access to some specific products. It is bascially the same to what IDO platforms do with their tokens.

Additional long-term pros for holding BTL:

- early addoptance at better price for stake-to-access and liquidity mining utilities.

- our buyback program. We will use part of those before mentioned fiat fees to buy our tokens back at market price and will burn them on a quarterly basis until 30% of total supply is burned. This makes our token deflationary and it in itself brings additional value for the holder in the long term.

- pure speculation

Important note: in the long run reward programs will be fueled by fees earned from fiat users. Since those fees are paid in fiat, this means that we will buy BTL token for rewards distribution and thus ,as a platform, will also generate some buying pressure.

Most of other project deplete their allocated funds for those kind of incentives and as a result the programs get closed eventually. Not in our case: Bitlocus’ reward programs will remian live for as long as the project lives, ’cause incentives are build into our economy model.

DONE

Bà Tân | : Q4.Can Bitlocus team please update some Bitlocus latest news or major events to attract more users ?

Arturas (Never DM you first) : Năm nay thực sự được lên kế hoạch cung cấp toàn bộ phạm vi sản phẩm sẽ chỉ bao gồm tiền xu chính và tiền ổn định (để đảm bảo an toàn)

* Các gói DeFi (một vài giao thức DeFi với một vài nội dung khác nhau được kết hợp)

* Gói tùy chỉnh — khách hàng sẽ có thể tạo gói của riêng họ với nhiều nội dung và giao thức dựa trên ý muốn của họ

* Đặt cọc

* Nông nghiệp

* Cho vay

* Thị trường NFT. Điều này sẽ bắt đầu một thị trường được nhân bản (ví dụ: của OpenSea), nhưng với sự trợ giúp của các đối tác của chúng tôi từ bitsCrunch, chúng sẽ được lọc ra để tìm kiếm các trò gian lận và các NFT bị rửa trôi.

Chúng tôi cũng sẽ có thẻ ghi nợ tiền điện tử (quý 2 22) và hiện đang làm việc trên việc đặt cọc BTL sẽ cho phép người dùng đạt được các cấp Bậc nhất định và truy cập một số dịch vụ và ưu điểm nhất định.

Thông tin chi tiết về lộ trình của bạn tại đây: https://bitlocus.gitbook.io/bitlocus/roadmap

Bà Tân | : Q5.What is the development roadmap of the Bitlocus project at the present time and in the future?

Arturas (Never DM you first) : that’s actually answered in Q4.

But I’ll elaborate on the Q4 a bit more then

- so, we are currently implementing Fireblocks for custodial security + opting in for their $30M insurance option.

- Secondly, we are already in progress to deliver our MVP with Anchor’s staking (almost 20% yield with stablecoin!) next month.

- Right after it we should deliver new utility (which is new to our whitepaper)

- Plus, we are also working on 2 diff staking options in a gamified way. I bet you gonna like and get hooked on that.

- also, we already have 3 ongoing earning programs: https://bitlocus.com/earn

DONE

Bà Tân | : Alright, Session 1 has finished perfectly. Appreciate your detailed responses @artb01 ���

Bà Tân | : End of session 1

Bà Tân | : We’ll move on to session 2

Bà Tân | : Session 2: Free Asking (will choose 10 question)

Bà Tân | : Don’t forget to join the group https://t.me/bitlocus_official

Bà Tân | : Group will unmute now so everyone can ask questions.

Bà Tân | : Thanks for the questions from the community.

Bà Tân | : Now let’s give our dear guest @artb01 some time to go through them.

Arturas (Never DM you first) : spam and bots all over.. boooring.

Arturas (Never DM you first) : okkwil ltry to find smth interesting

Bà Tân | : Please choose the best 10 questions and answer it for session 2, Thank you.

Q1. Almost 4/5 of investors are focused purely on the price of token in short term instead of understanding the real value and health of the project. Could you tell us on motivations and benefits for investors to hold your token in long term?

Arturas (Never DM you first) : For us our business is acutally focused and built on platform fees, token being a nice addition.

The price for it is actually mostly based on demand, so if we do it all right — deliver and market our product, all we need is YOU to join as as real/supportive community and use BTL’s utilities.

Main utilities are:

⁃ attend and earn rewards on liquidity mining and guarantee fund staking programs. More info here: bitlocus.com/earn

⁃ get reduced rates for our CEX’s fees

⁃ (new to Bitlocus roadmap) stake-to-access utility where clients will be able to qualify for one of a few tier levels that will open up an access to some specific products. It is bascially the same to what IDO platforms do with their tokens.

Important note: in the long run reward programs will be fueled by fees earned from fiat users. Since those fees are paid in fiat, this means that we will buy BTL token for rewards distribution and thus ,as a platform, will also generate some buying pressure.

Most of other project deplete their allocated funds for those kind of incentives and as a result the programs get closed eventually. Not in our case: Bitlocus’ reward programs will remian live for as long as the project lives, ’cause incentives are build into our economy model.

Additional long-term pros for holding BTL:

- early addoptance at better price for stake-to-access and liquidity mining utilities.

- our buyback program. We will use part of those before mentioned fiat fees to buy our tokens back at market price and will burn them on a quarterly basis until 30% of total supply is burned. This makes our token deflationary and it in itself brings additional value for the holder in the long term.

- pure speculation

Q2. What is the tokenomics of you project? how can I buy your token and what are the benefits?

Arturas (Never DM you first) : Tokenomics can be found here: https://bitlocus.gitbook.io/bitlocus/tokenomics

Main info:

⁃ 500M total supply,

⁃ CW20 token (on Terra blockchain; will be bridged to other chains too. To BSC — immediatelly after TGE),

⁃ defliationary (all in all 30% of total supply will be burned on quarterly events. We will buy BTL tokens back on a daily basis though).

- over $300k of deals is made with KOLs/infuencers for project promotion

- 30% of total supply goes to liquidity

Utilities:

⁃ attend and earn rewards on liquidity mining and guarantee fund staking programs. Plus we are adding new utility of upgrading your account status based on internal staking mechism too (after the MVP). https://bitlocus.com/earn

⁃ get reduced rates for our CEX’s fees

Q3. Which market, partners and community are you presently focusing on collaborating with at the moment?

Arturas (Never DM you first) : Our main partners are:

⁃ Again — Payrico EMI/European banking service

⁃ Dao Maker — our lead and strategic BTL investor. Other VCs include GBV, LD Capital, Evangelion, DWeb3, Double Peak, AU21, Basics Capital and a few more. Good, strong and beneficial investors

- marketing agency

Then we are currenlty working on new partnerships that will be beneficial for the project in the future. The already announced ones are with Coin98, GBV (our VC too), Angel Protocol, bitsCrunch. A few interesting ones are still in progress. <<<<<<< that is our current focus.

Q4. Regarding the safety and security of your platform what are the security measures adopted and have you done any audit of smart contracts?

Arturas (Never DM you first) : Acutally, security in number 1 priority for us. So:

• for custody — we are implementing Fireblocks and their MPC algorithm (plus, we have opted in for $30M asset insurance too)

• for DeFi smart contract safety — we do audits

• for platform itself — we are in the middle of performing a security audit of the website’s public surface by a third party audit company, that will evaluate the endpoints and configuration of our infrastructure for any vulnerabilities.

• user data — above mentioned security audit also evaluates possible data leaks, thus preventing any unauthorised access of customer data. Regarding the access to user accounts themselves we employ a broad scope of security tools and heuristic procedures like 2FA checking, and monitoring of sessions/IPs/browsers to detect any malicious activity not intended to be performed by account holders and prevent incidents before they happen. We still ask you to keep your passwords and 2FA safe, and don’t enter them anywhere outside of https://app.bitlocus.com (https://app.bitlocus.com/)

Q5. Advertising for the project is very important, so do you have any ideas to bring the project to more people?

Arturas (Never DM you first) : ⁃ first of all there will be two kinds of users:

⁃ a) fiat or end-users for the DeFi platform

⁃ b) BTL token hodlers

⁃ both ot them require diff marketing approach. Plus, fiat users alone will also feature like two of its kind — small institutions and retail users. Again, diff marketing approach.

⁃ But shortly, most of marketing apprach to institution will actually be through a network of country managers/biz devs available for for meetings, conferences, etc. Plus some marketign of course. Retail — will mostly be handles via digital marketing.

⁃ Crypto users/BTL hodlers will be mostly aquired via our extensive network of KOLs (crypto influencers basically; over $300k deal with them are done and alrady being promoted) + AMAs like this one will be stopped next week actually (sadly pretty much useless, spam and bot stuff with like 12 question variations… Sorry. We’ll focus on doing AMA on our own TG group now)

Q6. Do you have any plan for burning tokens in the future to reduce the supply of the token and increase its investment attractiveness?

Arturas (Never DM you first) : Yes, our token is defliationary (all in all 30% of total supply will be burned on quarterly events. We will buy BTL tokens back on a daily basis though).

Q7. What are the ways for your project to generate revenue in the long run? What is the progress of business development and what are some of your commercial partnerships?

Arturas (Never DM you first) : business model is mostly based on platform fees, but we will also introduce so other stuff in between, that wil help boost our token + indtroduce our of NFT too ;)

Q8. Community is a key element for any project if you want to be successful, how can you ensure that the community is shared in governance? Do we need to place bets to get votes or do we need to run nodes?

Arturas (Never DM you first) : governance it not bult into our token due to legal reasons of not to become a security token. But we care about our community’s opinion, so we’ll find other ways to consult them once in need. Like Telegram questionaires, twitter pols, etc

Q9. I know at this moment, the most Necessary for your project is Community. what is your plan to set a solid and strong community? Where can people reach about you and be part of your community?

Arturas (Never DM you first) : that is the isse. We have 80k community in size. Almost no real supporters sadly, so we will rewamp ir all quite drasticlly soon

Q10. What strategy will you implement to bring non-crypto-natives into your ecosystem? How do you keep a balance between developing the technology and also improving the value of your token?

Arturas (Never DM you first) : honestly, i dont believe crypto will go mainstream if project liek ours wont step in. Crypto is too complicated for non savvy users. And that is what we deliver as a product that will eventually benefit the crypto ecosystem by creating easy to use gatewy in between crypto and ffiat. This means NEW USERS to crypto space and NEW MONEY. Remember — 99% of money is still in fiat. We are gona try to change that :)

Bà Tân | : Thanks for the useful information from @artb01

Bà Tân | : End of session 2

Bà Tân | : For questions that have not been answered today, you can send them to @bitlocus_official for answers.

Bà Tân | : IM Community, if you would like to know more about BITLOCUS ! here are some useful links for you:

Official Website: https://btl.bitlocus.com

Twitter: https://twitter.com/bitlocus

Telegram: https://t.me/bitlocus_official

Medium: https://medium.com/@bitlocus

Arturas (Never DM you first) : thanks for having me here

Bà Tân | : Allright, I declare the Im Community AMA with BITLOCUS has ended.

Thanks to @artb01 | BITLOCUS joined us and provided us with BITLOCUS information, we hope that this knowledge makes us understand more about https://btl.bitlocus.com (https://btl.bitlocus.com/)

To the members, thank you for following this event to the end. winners will be announced soon.

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IM is a PR group — Marketing support for Airdrop, advertising, AMA, Services … in Vietnam Flag of Vietnam. — — — — — — — - TG: https://t.me/imcommunityitw

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