Riper DeFi x Im Community AMA Recap
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đ TELEGRAM AMA: Im Community & Riper DeFi đ
â° AMA Timing : 22 August 2021 l 12:00 PM UTC l 19:00 GMT +7
Venue For AMA : https://t.me/imcommunityitw
đ Reward Pool 100 USDT
Bà Tân | : Welcome @RIPER_Wei from Riper DeFi.
Bà Tân | : Welcome everyone. Today Im Community will host AMA with Riper DeFi.
Bà Tân | : Today our guest is: @RIPER_Wei from Riper DeFi.
Bà Tân | : Please introduce yourself a bit: @RIPER_Wei.
Wei : Hi all, Iâm Wei from RIPER DeFi and Iâm the Chief Data Officer of the project. My responsibility is to analyse and use the data generated from our network and project from farms so it can be used to benefit the perishable agriculture community as a whole.
My background is as a materials science engineer and my research back in 2004 has lead to the development of IoT sensors that are commonly used in many places including farms nowadays.
I aim to share more about our project with you all today!
Done
Bà Tân | : Thanks for the introduction .
BĂ Tân | : Todayâs AMA will have 3 sessions
Bà Tân | : Sessions 1: The chat will be muted & the team will introduce themselves then we will ask some introduction questions to the team Riper DeFi
Bà Tân | : Sessions 2: We will pick 5 Best Question from our members on Our Tweet (https://twitter.com/IM_Communityitw/status/1428915340239544320).
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)
đŁRiper DeFi Official (https://t.me/riperdefiofficial)
đŁRiper DeFi News (https://t.me/RiperDeFiNews)
đŁRiper DeFi Twitter (https://twitter.com/RiperDeFi)
Bà Tân | : Start session 1 AMA @RIPER_Wei
Wei : Ready
Bà Tân | : Question1. Could you please give us a simple introduction of Riper DeFi?
Wei : RIPER DeFi is a combination of our collective expertise within the perishable agriculture sector.
Through our experience, we recognise that small and medium sized farmers often experience delays in getting paid when they supply their produce to their customers. We have been working for years to create a solution to solve this key issue without their customers suffering from our proposed changes in how this market is traded. RIPER DeFi is a platform that ensures all participants can benefit and capture financial value.
We are excited to show everyone what this project is all about during this AMA.
Done
Bà Tân | : Question2. What benefits do the products developed by the Riper DeFi team bring to the project and users?
Wei : So let me explain more about the participants on the platform:
We have 1) Farmers 2) Buyers 3) Funders.
Farmers produce crops and sell it on our platform and get paid within 48 hours.
Buyers enjoy 60â180 days of interest free credit using the platform and only have to pay 20% of their invoice value.
Funders are the community that believe in supporting small and medium farmers and pay Farmers first on behalf of the Buyers. Funders are rewarded once Buyers pay the remainder of their invoice back to them.
Done
Bà Tân | : Question3. What role does the $RPR token play in your ecosystem? What are the benefits of holding it?
Wei : So, back to the three parties I mentioned above:
1) Farmers can earn $RPR tokens from our platform by sharing their farm data from IoT sensors directly from their farms.
2) Buyers can earn $RPR tokens if they pay their invoices back in full before their invoice value is due (because they are reducing the risk of the Funders)
3) Funders earn $RPR because they bear the credit risk by paying on behalf of Buyers first. So they will earn interest and also $RPR by taking on that risk.
We have designed the ecosystem for everyone to benefit and earn $RPR!
Done
BĂ Tân | : Question4. Riper DeFiâs development roadmap this year? What directions do you have in the future?
Wei : We are currently working very hard to establish partnerships with projects with complementary goals and look forward to announcing our partners soon.
Our TGE is targeted in the next few weeks (end of September 2021) and we are operating full steam to complete the beta version of our project (early 2022) for testing before roll out.
Please follow us on Telegram at https://t.me/riperdefiofficial to get the latest of what we are up to.
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/1428915340239544320).
Wei : OK
Bà Tân | : Question1. @Greyhair_08
(https://twitter.com/Greyhair_08)Could you please highlight some of the potential Blockchain Technology Benefits for Agriculture and Farmers? And how Riper is positioned to use to the tools of blockchain to provide a good wellbeing for farmers and related stake holders?
Wei : RIPER DeFi origin is very different from most blockchain projects because we have been operating a profitable perishable farming business for over a decade and recognised that blockchain was mature enough to help us evolve our sector. Given our DeFi and blockchain tech has improved so dramatically in the last few years, we finally have the tools we require to make this transition smoothly.
Farmers get paid first and will no longer need to experience delays and more importantly will not need to sacrifice their farms or assets as collateral to borrow money so they can make ends meet. We want to help farmers slowly pay their debts so they can begin to acquire assets and become financially independent.
Their customers will also benefit as they will have more choice of suppliers if farmers can expand their capacity to produce crops.
Funders can contribute to the farming community while earning at the same time. Itâs a win for everybody.
Done
Bà Tân | : Question2.@Dorothy279knot
(https://twitter.com/Dorothy279knot)Can you explain the clear cut strategies used by Riper to ensure that farmers get paid first without having to commit their assets and put them at risk of losing it all, as described on your website? Has any farmer yet to benefit from your financial empowerment scheme so far?
Wei : Iâll get into the mechanics whilst trying not to be too technical.
In short, Funders will be introduced to the trading ecosystem to provide money to create cash flow support for Buyers. Funders are people who are people who want to do something positive to help farmers and using their money to do so with the RIPER DeFi platform.
This ensures Farmers will get paid within 48 hours of a confirmed trade. Farmers have the lowest risk because the platform prioritises their payments.
That is not to say that Funders or Buyers are disadvantaged. Funders can purchase insurance to insure 80% of their exposure. Funders are also protected because invoices are fractionalized and shared with other Funders. In case a single Buyer defaults will not mean Funders will lose 100% of the value of that invoice because many Funders will back the invoices together.
Done
Bà Tân | : Question3. @vinh20661001
(https://twitter.com/vinh20661001)Who are the customers of âRiper DeFiâcurrently and in the near future? What incentives drive customers and/or businesses to use âRiper DeFiâ How, or through which big partnerships do you plan on utilising to pass your product onto the normal consumer especially noncrypto people?
Wei : Customers or those who benefit from RIPER DeFi are Farmers, Buyers, Funders and Consumers.
Farmers list on the platform and are incentivized because they get paid first. They can also get a larger audience and gain a wider customer reach on the platform.
Buyers get to pay a small deposit in order to access a good period of interest free credit and can also find the crops they need on our intuitive platform.
Funders earn interest and additional $RPR. If $RPR goes up in value, all participants on our platform will benefit.
Consumers (everyone who eats) can also benefit from transparent blockchain provenance (knowing where your food comes from) and because we remove middlemen, this should mean a shift towards lower costs for all consumers of the crops from farms on our platform!
Done
Bà Tân | : Question4.@SyminuL
(https://twitter.com/SyminuL)As crypto users we donât want to lose our assets to some scam projects that run away and disappear with our money so why should we invest in the your project as a long-term investment?
Wei : We have already been in operation of farms for over 10 years. We didnât simply dream of making a change within the perishable farming industry without any industry knowledge or knowhow.
We have strong governance (please check out the background of our COO and Head of Legal Kristen Tong) and we are transparent in the sense that we are not hiding our identities simply because we are in the blockchain space.
We put our faces out for everyone to see because we believe deeply in what we are doing and are not afraid of being challenged. You can follow our story on Instagram @riperdefi so you can take a look at the content we put out so you can understand us better.
Done
Bà Tân | : Question5.@jonny25064148
(https://twitter.com/jonny25064148)If we talk about cryptocurrencies- there are many regulations- how does the âRiper DeFiâ team deal with regulations where too many laws and regulations are used by the currency system in certain countries?
Wei : We are always paying attention to regulations and updates within our space. This is precisely why we have someone with a lot of experience on regulations and legal expertise to lead us and help us navigate through this space to ensure we are doing everything the right way. Our COO has extensive experience in law and regulation. We operate with a long term view and are not simply entering this sector because we are aiming for a short stint or make easy money with no foresight.
Done
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)
đŁRiper DeFi Official (https://t.me/riperdefiofficial)
đŁRiper DeFi News (https://t.me/RiperDeFiNews)
đŁRiper DeFi Twitter (https://twitter.com/RiperDeFi)
BĂ Tân | : Donât forget to join the group https://t.me/riperdefiofficial
Wei : Please follow us and our journey everyone!
Bà Tân | : Thanks for the questions from the community.
Bà Tân | : @RIPER_Wei Pick the 5 best questions and answer it for session 3.
Q1. What are plans in for global expansion? Are you focusing on market at this time or focus on building and developing or getting customers and users, or partnerships?
Wei : Our roll out is actually based on our existing network. We have a large community of over 3000 Farmers and wholesale businesses (Buyers) in Australia. We will first focus on on boarding some of them during beta stage to ensure everything is working as we expect. Once we have fixed all issues and the system is running smoothly, we will work to integrate as many of our community in Australia as possible. Once this is running smoothly, we will look overseas for partners in other countries like Japan and South East Asia and do the same. We hope to gradually serve more and more countries within APAC
Q2. Do you have any plans to attract non-crypto investors to your project Because it is the success of a project to get more investors who are still not in the crypto world. What are the plans to increase awareness around your in non-crypto space?
Wei : We are already actively operating and profitable in the non-crypto space. This is the time for us to leverage blockchain to help us bring our business and industry to restructure and change how things have been done.
Q3. Now NFT is really a hot trending topic right now in the cryptocurrency market. Then how is your project planning to develop NFT then how is your project planning to combine it with DeFi?
Hope you will answer..
Wei : NFTs are indeed hot right now but we are not chasers of trends. We fully intend to use NFTs but in a very different way to how they are generally being used right now (for art and creators). We will use NFTs as a financial instrument to monitor our invoices. They will be created when invoices are issued and burned when invoices are completed paid off.
Q4. Good day sirâŚWhere can I buy it? Also all the links to all your social media platforms if possible???
Wei : Please follow our telegram groups https://t.me/riperdefiofficial and https://t.me/RiperDeFiNews for announcements on our TGE and thank you for your interest
Q5. How do you plan to spread awareness about your project in different countries where English is not good? Do you plan to develop many different communities such as Vietnam, Indonesia, Korea, ⌠about your project so that they can easily ommunicatee and understand your project?
Wei : We will work with local partners whenever we move to a new country to ensure we understand how things work there to maximize our chances of success. It will mot be a simple matter of translating our platform and will involve a lot of training for local teams so they can explain the benefits of the platform and show the community how it works and how it might benefit them and their businesses
Bà Tân | : IM Community, if you would like to know more about Riper DeFi ! here are some useful links for you:
Official Website: https://riperdefi.com
Twitter: https://twitter.com/RiperDeFi
Telegram: https://t.me/riperdefiofficial
Medimum: https://riperdefi.medium.com/
Reddit: https://www.reddit.com/r/RiperDefi/
Facebook: https://www.facebook.com/Riperdefi
Instagram: https://www.instagram.com/riperdefi/
Bà Tân | : Thanks for the useful information from @RIPER_Wei
Bà Tân | : End of session 3
Bà Tân | : For questions that have not been answered today, you can send them to @riperdefiofficial for answers.
Wei : Thank you IM Community for your time for todayâs AMA. It has been fun
Wei : Please keep your eyes on us
Bà Tân | : Allright, I declare the Im Community AMA with Riper DeFi has ended.
Thanks to @RIPER_Wei | Riper DeFi joined us and provided us with Riper DeFi information, we hope that this knowledge makes us understand more about https://riperdefi.com (https://riperdefi.com/)
To the members, thank you for following this event to the end. winners will be announced soon.
