AMA With FNDZ || Sep-16–2021
Valentino Cremona — Operations &Tech have taken AMA in Crypto Avengers TG Channel and helped to know about FNDZ in detail. You can check full session details below.
Crypto Avengers: Hi @HighRankingFNDZApe , Welcome to Crypto Avengers Community , how are you doing ?
Valentino: Hey everyone
Doing great thanks!
Stress falling off from the last couple of days
Hope all of you are doing great as well
Crypto Avengers: yes we are doing well
Let us start the AMA
Valentino: let’s do it!
Crypto Avengers: so our 1st question is please introduce yourselves, your role and your background? And how you discovered crypto?
Valentino: Hey I’m Valentino, my background is a decade in crypto. From trading countless years, to helping structure ICO’s back in 2016, to building the first regulated crypto exchange and custodian in the NL, licensed by the Dutch central bank. Now going into the defi landscape and building FNDZ — an accessible open ecosystem for everyone to join and copy traders of their friends/ family or from experienced traders.
My role is overseeing tech and operations at FNDZ
i discovered it the same way most early people discovered it
Won’t go into detail here hahaha
Crypto Avengers: wow that’s very strong background you have
Valentino: thanks, my reputation is holy to me
Crypto Avengers: so our next question is what is FNDZ? Can you explain FNDZ in layman terms?
Valentino: FNDZ is the first DeFi platform that makes copy trading accessible from a truly decentralized point of view. Through the FNDZ platform, you will be able to copy your favorite and best performing traders (or even your successful crypto friend) without ever having to monitor the markets yourself. All you need is a wallet and with 1 click of a button you can copy the trader you want.
Our aim is to become a fully-fledged DAO (decentralized autonomous organization) and that’s why the term “contributing” is perfect. We contribute to the initial development of the project, but it will be the community, or rather the owners of the $FNDZ token that will decide the future direction of the project. Currently about 40+ people contribute to the project with decades of experience in traditional finance, entrepreneurship, brokerage, and cryptocurrency trading. Our team’s talents are tailored to the task of developing the world’s easiest to use DeFI copy trading platform. After all, this is a platform for traders, made by experienced traders. We look forward to showing you our product, gathering feedback, and improving the platform.
Essentially , what we are doing here is taking a long proven business model out of the centralized finance space, with names like E-toro and Robinhood, and deploying it in the de-fi space. We noticed that the only players that were around in de-fi were massively missing a very important angle in their platforms, namely: Simplicity. We are not trying to reinvent the wheel here, we just decided that we wanted no centralization in a successful business model like this, so we designed the platform in a way that both experienced traders and people already involved in the industry can find their way into the platform, but at the same time keeping it extremely simple for new people to jump onboard. We have chosen for de-fi, as we have seen the massive growth of the industry and at the same time being aware about the regulatory burdens etc. that are currently being created in the centralized crypto industry.
Crypto Avengers: Nice, FNDZ is based on what blockchain ?
Valentino: BSC for now
We will bridge to ETH when product goes live
And then expand as we see fit
We will be looking at the most active chains with user / volume and asset to expand
Crypto Avengers: cool, our next question is what was the inspiration behind starting FNDZ?
Valentino: The inspiration actually came from being in the crypto space for a decade and constantly running into the same problem. How do I help my friends / family or acquaintances with starting in crypto. The main barrier is getting started as there is a flood of information and a boatload of scams around. A novice can easily be separated from his money in this space and most of us learn the hard way. Almost everyone I know had a negative experience in crypto.
So imagine you have a community / friends / family / followers, whatever it is and they want to benefit from your trading skills. In order to do this you usually have to create centralized exchange accounts, either have to log in for them and help them set trades/ screen share and explain everything in detail or sit with them together. Otherwise you can also tell them to send funds to you and then you take care of a big pile. This is quite complicated though and a major hassle. So we thought, why not let them create vaults where the backend is totally automated and people at free will can deposit into a vault. All the trader needs to do is share his vault and whoever wants to follow him can deposit into the vault. The contribution that then goes into the vault will automatically copy the trades of the trader.
This is how the defi project FNDZ was born.
Crypto Avengers: ok, our next Question is can you talk about team behind FNDZ? What’s the team size and how many developers are involved?
Valentino: yeah I already mentioned it before but happy to repeat myself :)))
There is actually a lot of people working on FNDZ, not just the people on the website but a lot of people behind the scenes as well. We contribute to the initial development of the project, but it will be the community, or rather the owners of the $FNDZ token that will decide the future direction of the project. Currently about 40+ people contribute to the project with decades of experience in traditional finance, entrepreneurship, brokerage, compliance, risk management and crypto currency trading. Our team’s talents are tailored to the task of developing the world’s easiest to use DeFI copy trading platform. After all, this is a platform for traders, made by experienced traders. We look forward to showing you our product, gathering feedback, and improving the platform. Most of all, we cannot wait to lower the barrier to entry for the masses that want to get exposed to the DeFi world.
Crypto Avengers: wow you have pretty big team
Valentino: yah, it’s not small anymore :)))
Crypto Avengers: our next Question is Do you have competitors building something similar to FNDZ?
Valentino: there is like 2 other copy trading platforms out there, but they are based on wallet to wallet trading
Which is not something that really makes sense imo
On the other hand there is some similar institutional products but they target hedge funds and asset managers
We on the other hand just target retail, we want the masses
Currently we are only seeing complicated products with questionable UX/UI, that most retailers don’t understand. We are bridging the gap between experienced crypto people and novice market participants.
The strength of FNDZ is that any retailer will be able to have an easy flow to upload capital from their credit or debit card into a wallet they control. From there on you scan the best traders on the platform based on their historical transparent history and then simply 1 click deposit into that traders vault. You are now copying the trader. This is what makes FNDZ so special. It’s going to be one of the first easy to use crypto products for the masses.
Crypto Avengers: Ok, Our next question is can you talk about what’s the current status of the FNDZ project? Any upcoming major milestones?
Valentino: I mean we just hit a huge milestone yesterday. We are live on PANCAKESWAP. In the meantime we are finalising our product and working hard on delivering it by the end of October ideally. We are finalising our marketing campaigns, talking to channel partners. We started our ambassador program which is now open. There we will have early access beta testing and iteration rounds. We will then drop the MVP, right after we will be working on building out the staking functionality, as well as starting to look at what ecosystem expansions we should undertake. Further roadmap updates will be announced as we go along.
https://pancakeswap.finance/swap?outputCurrency=0x7754c0584372d29510c019136220f91e25a8f706
https://www.dextools.io/app/bsc/pair-explorer/0x7754c0584372D29510C019136220f91e25a8f706
That was major milestone, so the stress is finally wearing off a bit
Crypto Avengers: Wow its Awesome…😁
Valentino: We had a mega smooth launch
Announced 4PM CET and were live without any problems at 3:59PM CET
Very proud of my team for pulling that off
Crypto Avengers: Congrats on the successful launch
That’s great, our next Question is can you please talk about partners, investors and advisors of FNDZ?
Valentino: thank you very much, the gratitude goes to the team 🙏🙏🙏
We got some incredible partners, on one hand out development team Ionixx that does most of the front and backend work — the body of the project. Curve grid which does the smart contract logic and really helps us to build the nervous system of the body — the complex logic behind it all. Our IDO partners Trust pad who have an incredible community and were very helpful.
On the investor side we partnered with 2 marketing VC’s as we want to reach retail users all across the world, which also have an extensive crypto network. We also have an incredible legal team backing us that worked on projects like Kraken and Axie Infinity and more.
The advisor side are super smart mathematicians, incredible accomplished entrepreneurs with regulated crypto banks in the EU and a lady wizard that has built centralized order matching systems and index’s. We will announce them in the coming weeks, some of which cannot be on the front page as they also are engaged with regulated companies and compliance policies do not allow them to be public.
Crypto Avengers: Our next Question is can you talk about FNDZ token and its utilities?
Valentino: The FNDZ token promotes an inclusive community with a number of useful features:
Governance: The FNDZ token is a future governance token that will be used to vote on governance proposals. Fee models, hiring people for protocol creation from treasury funds, and any other idea suggested by the community.
Creation fee: You will need to have a small amount of FNDZ to create a copy trading vault.
Referral: Per trader, a referral link can be created and shared with new joiners on a one-time basis. If the new joiner is profitable once the performance fee is due, the promoter receives 1% of the 20% performance fee.
Advertising: Traders who achieve a minimum of 10% performance over four weeks are able to buy FNDZ tokens to advertise their vault on the front page — attracting new followers.
We also have incentives for expert traders beyond beyond what they will make from their management fee.
Trading challenges — FNDZ will have trading challenges where you can win FNDZ tokens by beating your competitors.
Leaderboards — you can take part in the leaderboard rankings by entering with your FNDZ tokens. Higher scores simply draw more fans. Higher earnings equal higher exposure. It’s simple.
Read here to know more about: https://medium.com/fndz/the-fndz-token-utility-model-5f315543303e
Crypto Avengers: Wow FNDZ have lot of utilities
Valentino: well, we wanted to design an actual token with utility as opposed to all this crap that has none
That’s where the decade of crypto experience comes in handy
Seen what works and what doesn’t
Crypto Avengers: Ok we are done.
Now let’s proceed with the community Questions Are you ready?
Valentino: hell yea 😉
Crypto Avengers: we will unmute for Community Questions, you may answer after 5 minutes when I mute the Room again 🔥
Valentino: sure let’s do it
Crypto Avengers: Unmuted
OK we got lot of questions we are muting the room again
Valentino: Shall i pick 5?
Crypto Avengers: Take your time in going through the questions and please pick the 5 best questions for you to answer
Valentino: oki doki
Crypto Avengers Community: From where is your project name coming from? What is the meaning of this name and how is it related with the project?
Valentino: FNDZ actually stands for FUNDS — it’s a non-written U that is said regardless. The project has to do with funds, hence the name 🙂
Crypto Avengers Community: Have you done your tokens listings like coingecko, cmc? When did you launch your tokens?
Valentino: We launched yesterday, we are on coingecko already, we are just getting them to update the information as its not completely accurated at this point https://www.coingecko.com/en/coins/fndz-token
Crypto Avengers Community: Hi!
Hacks are happening quite often lately. Can you give some information about the security system of FNDZ? Are copy traders really safe in FNDZ? Do you have an audit already? @HighRankingFNDZApe
Valentino: totally, we audit our code with super professional audit firms like Zokyo, here is our latest code review
https://github.com/FNDZ-main/public/blob/main/Zokyo%20-%20FNDZ%20Audit.pdf
Crypto Avengers Community: Creating tokens is easy, but it takes professionalism & intelligence to keep them valuable in the long run. What are your plans to make #FNDZ valuable in the long term? Can you share your product or tokennomics and token usecase?
Which chains will $FNDZ be operating on?
Valentino: We have a big roadmap, the launch was just the first milestone. We have the demo ready now, we have the ambassadors that are going to do beta testing, then we drop the product. At that stage its TVL + user ramping up numbers. We have a huge marketing strategy planned out and will start campaings shortly. We also obviously have a central exchange listing plan. Our big aggressive goal is getting 1B TVL as the first major milestone.
Crypto Avengers Community: It catches my attention that FNDZ is a copy trading platform, but what do they really mean by “copy trading”? Will this be a specific type of asset? Or is it simply copying a strategy used by other traders?
Valentino: Traders make vaults that you can follow. On each chain there is different assets. We will be curating the assets that can be traded on each chain to protect users. That means there is certain threshold parameters in order for a token to be available for FNDZ users. This includes , MCAP size, users, volume etc
Crypto Avengers Community: Since you said performance fees are charged after a trade has been completed, what will happen when trade becomes unpredictable and unsuccessful? Will traders still have to pay performance fees when their copied trade did not perform as expected?
Valentino: Performance fee is due at the crystallization period that each trader decides. You will be able to spot the good traders through the on chain validated results. They cannot tamper with them. Users will obviously flock to the good traders.
Crypto Avengers Community: Can you please share structure of Token holders? How many fund raising rounds have you done to make this project? Any reserve for growth?
Valentino: yes please check tout our tokenomics articles its all explained there https://medium.com/fndz/fndz-tokenomics-3ec86de7baca
Crypto Avengers Community: NFT is very hot trend now, do you pretend to catch up with this trend or still follow and focus your original roadmap? create values, not create TREND !
Valentino: yeah, we are looking ad adding index vaults down the line, so you could go long NFT index for example
Crypto Avengers Community: Non-crypto user is very important for mainstream adoption. How you are planning to attract non-crypto users towards your project? Is there any upcoming partnership that will brings non-crypto user and real-use case?
Valentino: we will be running commercial ads just like etoro for retailers that dont know crypto
and have non crytpto retail campaigs ofc
Crypto Avengers Community: How important is the community to you? And how can we collaborate or help you for the development of the project?
Valentino: it’s the cornerstone of everything
Only with a strong community can you go places
Everybody in crypto knows that
Crypto Avengers Community: Where are your tokens used? What are the main applications products and services Your provide for users?
Valentino: yes, vested over 2 years. We allow people to easily follow profitable traders without having to worry about anything.
Crypto Avengers Community: “STAKING” is one of the STRATEGIES to ATTRACT USERS and ACHIEVE MASS ADOPTION, Does your GREAT PROJECT have plan about Staking?
Valentino: Yes, right after the product drops we will be building out staking functionality. We have a novel new mechanism that we will drop. People will love it, cant say much more at this stage.
Crypto Avengers Community: What can evaluate a good trading for other users who can “Copy Trading” ?? @HighRankingFNDZApe Thank you❤
Valentino: we have developed an in house algo that ranks traders vaults buy TVL, volume, trades, depositors, PNL etc
Crypto Avengers Community: On which DEX platforms can I buy your token and are you planning to list on new exchanges?
Valentino: currently we are trading on pancakeswap, we will be bridging to ETH as soon as the product is ready and will the subsequently expand to other chains that have the most volume/ assets and users. Of course we also have a CEX listing plan.
Crypto Avengers Community: Have you been listed your tokens on any decentralized or centralized exchange if yes where can I invest and buy tokens from?
Valentino: https://www.dextools.io/app/bsc/pairexplorer/0x5e2c18c17b1ce4b7636918633e923ef7ec2a234c
FNDZ token is trading on PCS now
I can answer all questions but I also got to jump on another work call in 5 min so better we wrap it up here :)
Thank you for having me, I hope to see you around! Our journey just started and we have big ambitions 🙂
Crypto Avengers: Let’s wrap now and we will publish medium article tomorrow.
Thanks Everyone! Please support FNDZ Guys!!
Valentino: Thanks for having us! 🙏
Crypto Avengers: Thank you @HighRankingFNDZApe for your wonderful time with us!! we learnt more about FNDZ from you today.
Please join the FNDZ Telegram group, and show some love from the Crypto Avengers 📣
Please Join
FNDZ Website (https://fndz.io/)
FNDZ Telegram (http://t.me/fndz_community)
FNDZ Twitter (https://twitter.com/FNDZtoken)
Crypto Avengers Channel Links:
Discussion Channel: https://t.me/ImCryptoAvenger
Announcement Channel: https://t.me/HiCryptoAvengers
