CrossFi x Im Community AMA Recap
đ TELEGRAM AMA: Im Community & CrossFi đ
â° AMA Timing : 15 September 2021 l 12:00 PM UTC l 19:00 GMT +7
Venue For AMA : https://t.me/imcommunityitw
đ Reward Pool 100$ in CRFI
Bà Tân | : Welcome @amy_crossfii from CrossFi.
Bà Tân | : Welcome everyone. Today Im Community will host AMA with CrossFi.
Bà Tân | : Today our guest is: @amy_crossfi from CrossFi.
Amy : Hello @RoisePM
Ahrix : Welcome @amy_crossfii to the IM community
Bà Tân | : Can you introduce yourself to our Im Community?
Amy : Good evening! My name is Amy Kim. Currently, as CBO of CrossFi, Iâm responsible for brand strategy development, management and the service division. Itâs really nice to meet the community users like this today ^^
Bà Tân | : Thanks for the introduction.
BĂ Tân | : Todayâs AMA will have 3 sessions
Sessions 1: The chat will be muted & the team will introduce themselves then we will ask some introduction questions to the team CrossFi
Sessions 2: We will pick 5 Best Question from our members on Our Tweet (https://twitter.com/IM_Communityitw/status/1437770566249947145).
Sessions 3: The conversation will open to the community questions and the 5 best questions will be selected.
Bà Tân | : Requirements:
đŁIm Community (https://t.me/imcommunityitw)
đŁCrossFi_ Official_En_ CRFI/Filecoin/IPFS/Filmining (https://t.me/crossfimain_en)
đŁTwitter CrossFi (https://twitter.com/globalcrossfi)
đMore information about CrossFi :
đŁWebsite (https://www.crossfimain.com/)
đŁGithub (https://github.com/crossfidao)
đŁMedium (https://medium.com/@globalcrossfi)
đŁDocs (https://docs.crossfimain.com/)
Bà Tân | : Start session 1 AMA @amy_crossfi
Amy : OK
Amy : Letâs get started
Bà Tân | : Question1. Can you briefly describe what is CrossFi? We would like to know more about it and how it works. @amy_crossfi
Amy : CrossFi is a cross-chain liquidity sharing protocol characterized by multi-chain lending and synthetic assets. It aims to connect and release all isolated liquidity of existing public chains. CrossFi is committed to breaking technical barriers of all mainstream public chain assets through leading interoperability technologies.
CrossFi aims to solve:
¡ The immaturity of cross-chain technology.
¡ Insufficient liquidity of assets.
¡ The problem of incomplete supporting infrastructure.
Done.
Bà Tân | : Question2. What products does the CrossFi Team offer to users? How can users make money on your platform? @amy_crossfi
Amy : This is an interesting question
CorssFi currently has a DApp with staking and flashloan (borrow) features. Users can easily support liquidity to the CrossFi ecosystem and generate profits by staking their synthesized Filecoin (cFIL) or CrossFi token (CRFI).
CrossFi provides the below products:
¡ DApp with DeFi features; Flashloan and liquidity pool (staking) for Filecoin and CrossFi.
¡ Cross-chain liquidity protocol for Filecoin and other public chains.
Done.
Bà Tân | : Question3. What role does the $CRFI token play in your ecosystem? What are the benefits of long-term holding? @amy_crossfi
Amy : CrossFi (CRFI) is a governance token for the CrossFi ecosystem. CRFI holders will be able to claim rewards if they stake their tokens, provide liquidity, and participate in key governance votes. CRFI is utilized as gas for executing on-chain operations and for paying services.
Our goal with CRFI is to align the incentives between the participants of the CrossFi ecosystem and the liquidity providers. The token mechanisms described above have two main goals:
¡ To connect isolated liquidity of existing public chains.
¡ To democratize decentralized finance.
Done.
Bà Tân | : Question4. What are the achievements that CrossFi has achieved so far? @amy_crossfi
Amy : â CrossFi has a community of 20,000+ total users
- We just has a very successful first CSO event and monthly CSOs are now planned
- CrossFi is listed on major exchanges such as Bittrex
- Trading volume statistics on the DApp:
+ Active users: 800+
+ Wallets: 2,000+
+ 129,617 cFILs (synthetic Filecoins) staked
+ 83,000 cFILs loaned
+ 46,381,970 CRFIs (CrossFi tokens) staked
Done.
Bà Tân | : Question5. What is the development roadmap of CrossFi this year? @amy_crossfi
Amy : 2021.Q2
Launching one-stop Lending platform.
⢠2021.Q3
Test docking modules on the mainstream public chain.
Launch of the CrossFi Swap Opportunity (CSO) plan.
⢠2021.Q4
Launching multi-asset network switching protocol & the L2 integrations.
Synth-based markets DEX development.
⢠2022
Expand the application ecosystem of CrossFi.
DEX is online.
Done.
Bà Tân | : End of session 1
Bà Tân | : We will move on to session 2
Bà Tân | : Sessions 2: We will pick 5 Best Question from our members on Our Tweet (https://twitter.com/IM_Communityitw/status/1437770566249947145).
Bà Tân | : Question1. Do you have AUDIT certificates, or are you working to AUDIT your project, to make it more secure and reliable? @amy_crossfi
Amy : Yes, we have been audited. The audit was done by BEOXIN, and can be checked on the official website and DApp.
We, at CrossFi, attach great importance to network security and usersâ privacy. First, the principle of maintaining safety is to control potential errors and failures, and to constantly test and inspect the system. This includes writing standardized contract code according to norms, avoiding unnecessary external interface calls, and limiting the right to call interfaces.
And we will iteratively validate the performance of this mechanism in various environments, ensuring that there are no potential loopholes in flashloans and other new DeFi mechanisms.
Secondly, we are actively working with third-party auditing firms and white-hat companies to maintain system security.
BĂ Tân | : @amy_crossfi Please say âDoneâ when you have finished the question, thank you.
Amy : oh, my fault
Amy : Done.
BĂ Tân | : Question2. Revenue and profit are important factors to maintain and develop the project. So what is CrossFiâs revenue generation model? @amy_crossfi
Amy : CrossFi revenue generation returns to the users who participate in staking which is giving loans to Filecoin miners and receiving interest. And when the DEX exchange is released in the future, CRFI will be used as a platform coin, and it can be said that it has high use value as it is used for various transaction fees.
Done.
BĂ Tân | : Question3. What is the biggest goal of the project at the moment? In your opinion, in the next 3â5 years, where is the position of CrossFi in this crypto market?
Amy : Currently, we are focusing on Filecoin DeFi using cross-chain technology, and we plan to support various chains in the future. By linking different networks such as Filecoin as well as Polkadot to different assets using interoperability technology, it is possible to expand the liquidity of assets in other networks through Cross DeFi. In the future, we plan to create our own derivatives DEX exchange. From there, CrossFi will be used as a fee as a platform coin. CrossFiâs cross-chain compatibility will gradually expand the CrossFi financial service protocol ecosystem.
Done.
Bà Tân | : Question4. Could you please tell us the story behind the name CrossFi? How did you get the inspiration to build your project? How will this name affect people in your opinion? @amy_crossfi
Amy : CrossFi is analogous to Cross-chain and Finance! We started the journey to blockchain space as developers and miners who believed the potential or Filecoin and its business foundation of decentralized storage. We realized that there is a missing piece for the ecosystem, DeFi and cross-chain protocol for Filecoin. Thatâs how CrossFi was born.
Done.
Bà Tân | : Question5. In the current 4.0 era, technology is an important factor to help the project succeed. So what is the most prominent technology that CrossFi is using? What benefits does it bring to the project? @amy_crossfi
Amy : Multi-Asset Adapter Protocol (MAP) technology is a key component of CrossFi, an infrastructure for cross-chain asset lending and liquidity sharing networks, allowing users to connect assets on incompatible public chains by utilizing MAP. This technology also allows NFTs to be collateralized and allows NFT owners to borrow on NFT assets or sell shares in NFT assets to provide partial ownership of these NFTs.
Since CrossFiâs MAP technology was initially developed to provide liquidity to accumulated assets, it is in perfect condition and position to do the same for NFTs. Each fixed asset contract has a start and expiration date for the original fixed asset, so it must be an NFT so CrossFi can take advantage of the NFT boom.
Done.
BĂ Tân | : Question6. What is the real target of âCrossFiâ? is it intended only for publications or could it also be implemented in contracts between people? How far do you want to take CrossFi? @amy_crossfi
Amy : CrossFi is a cross-chain liquidity sharing protocol, a DeFi platform for solving the liquidity needs of different network assets based on interoperability technology. CrossFi uses blockchain smart contracts to realize decentralized financial services for Filecoin so that the value of Filecoin can be safely, transparently and efficiently circulated on the chain. In addition, a cross-chain liquidity sharing protocol specialized for multi-chain lending and synthetic assets aims to resolve and connect the isolated liquidity of the existing public chain.
Done.
BĂ Tân | : Alright, Session 2 has finished perfectly. Appreciate your detailed responses @amy_crossfi đ
Bà Tân | : End of session 2
BĂ Tân | : Weâll move on to session 3
Bà Tân | : Sessions 3: The conversation will open to the community questions and the best questions will be selected.
Bà Tân | : Requirements:
đŁIm Community (https://t.me/imcommunityitw)
đŁCrossFi_ Official_En_ CRFI/Filecoin/IPFS/Filmining (https://t.me/crossfimain_en)
đŁTwitter CrossFi (https://twitter.com/globalcrossfi)
đMore information about CrossF :
đŁWebsite (https://www.crossfimain.com/)
đŁGithub (https://github.com/crossfidao)
đŁMedium (https://medium.com/@globalcrossfi)
đŁDocs (https://docs.crossfimain.com/)
BĂ Tân | : Donât forget to join the group https://t.me/crossfimain_en
Bà Tân | : Thanks for the questions from the community.
BĂ Tân | : Now letâs give our dear guest @amy_crossfi some time to go through them.
Amy : I feel so excited
Bà Tân | : @amy_crossfi Pick the 5 best questions and answer it for session 3.
Amy : let me go through the questions
Q1. What is the reason to create a DeFi protocol focused on Filecoin?
Amy : Before the start of the project, we were seeking necessary liquidity demand for the Filecoin ecosystem in the market. At the early stage of Filecoins, users need to stake for 540 days and keep it locked even though it is the worldâs 10th largest cryptocurrency by volume.
Market ecology of the total, the situation was that ecosystemâs liquidity was very low. On the contrary, Filecoin distribution mining range was very widely distributed. These two reasons are why we got the first DeFi products for Filecoin. We also have plans to gradually increase other network support services. The Filecoin ecosystem has grown even larger, has grown the ecosystem of cross assets and is committed to sustainable development. We can confidently say that the development and future of CrossFi is limitless.
Q2. Where can I buy CRFI now? How will CrossFi help with FIL staking?
Amy : Yes, CrossFi is listed on the US virtual asset exchange Bittrex Global. US virtual asset exchange Bittrex global wallet was opened from July 2.
Bittrex ERC-20 CRFI is available for purchase on the Ethereum-based CrossFi DApp. CRFI is listed on decentralized exchanges such as DODO, Sake, PancakeSwap, where the BSC chain based CRFI is listed. Transactions are available based on the first listing; we are going to promote listing on global exchanges sequentially so that you can reach the exchanges commonly called the majors.
Q3. Partnerships are crucial for many projects especially with blockchain projects like CrossFi, so can you tell us who partners you have currently and what are your plans to expand and develop this issue in the near future?
Amy : CrossFiâs partnership with DataLine and DCTech has attracted investments. The two companies will provide leading Filecoin mining companies with 180 PiB storage power. DCTech and DataLine have 5PiB & 3PiB of daily storage increases respectively.
CrossFi and the two companies have provided loans to the Convention by concluding the first Filecoin lending support and more many large and mining companies jointly have made Filecoin the industry standard. This greatly increases the financial service efficiency of the Filecoin ecosystem aiming to solve that problem from 30% miners.
Q4. Please describe the CrossFi DApp and its future direction.
Amy : CrossFi currently provides Solarium-based EVM supporting deployment technology based on high-performance and transaction security mechanisms based on the Filecoin ecosystem. It provides liquidity services for DeFi and in the future, more mainstream public chains will be supported in the network. CrossFiâs cross-chain compatibility will gradually expand the CrossFi financial service protocol ecosystem.
Q5. What are the factors that differentiate and make the CrossFi project unique compared to other projects?
Amy : CrossFi solves the problem of obtaining liquidity for assets in other networks by allowing these assets in the cross-chain to be used through interoperability in the DeFi network and DAO fuse ecosystems and ensuring the liquidity of cross-network. Standardized financial support will be provided. In addition, CrossFi is a more powerful Filecoin ecology-based background. 1,510,000+ Filecoin users have got an existing Filecoin that provides liquidity demands across the ecosystem.
Amy : All done.
Bà Tân | : Thanks for the useful information from @amy_crossfi
Bà Tân | : End of session 3
Bà Tân | : For questions that have not been answered today, you can send them to @crossfimain_en for answers.
Bà Tân | : IM Community, if you would like to know more about CrossFi ! here are some useful links for you:
Official Website : https://www.crossfimain.com/
Telegram : https://t.me/crossfimain_en
Telegram CN : https://t.me/crossfimain_cn
Telegram JP : https://t.me/CrossFi_Jp
Twitter : https://twitter.com/globalcrossfi
Medium : https://medium.com/@globalcrossfi
Github : https://github.com/crossfidao
Twitter JP : https://twitter.com/crossfijp
Bà Tân | : Allright, I declare the Im Community AMA with CrossFi has ended.
Thanks to @amy_crossfi | CrossFi joined us and provided us with CrossFi information, we hope that this knowledge makes us understand more about https://www.crossfimain.com (https://www.crossfimain.com/)
To the members, thank you for following this event to the end. winners will be announced soon.
Bà Tân | : Thanks @amy_crossfi for joining the AMA today. Have a good day.
Amy : Thanks to the community for organizing this meetup
Amy : see you guys later
