Recapping the launch and 2022 roadmap
In case you missed it, here's the AMA transcript where you'll find the FNDZ team discussing the details of the recent platform launch. Read it to learn more about the project, what to expect in the coming weeks and how FNDZ differs from other social trading platforms.
FNDZ: Welcome to our AMA!
We will talk about Token utility, Marketing, plans and the future of FNDZ.
Firstly I would like to thank Giammarco for joining us!
Giammarco: Hey everyone
FNDZ: Some background on Giammarco for those who don't know him.
Giammarco started in crypto during 2018 as an investor, while studying and working in traditional marketing outside the crypto industry. During 2021, he started his own crypto project based on NFTs and gaming. Since July 2021, he has been in charge of content, communication and external partnerships for FNDZ.
Giammarco: Almost a year in FNDZ now, what a crazy journey
FNDZ: That's crypto for you
Ok let's get this going with our first question!
Q1. We had a few questions about marketing, so we'll combine the questions and answers here - What are the methods or plans for FNDZ to achieve global usage and recognition in all the major countries, and how is the marketing plan looking?
Giammarco: The marketing plan is going well, FNDZ will increase its global marketing efforts by engaging with well-known traders and integrating them into the platform. These traders will have a large following on Twitter, Tradingview, YouTube and other social media platforms. The beauty of this approach is that it gives FNDZ access to a large community already built up by these traders, which ensures that we will have many new users on the platform from the moment it launches in June. FNDZ will also publish articles on various crypto news sites around the world, as well as interviews and other press releases aimed at targeted audiences.
FNDZ: Sounds like you are going to be busy
Q2. Could you tell us more about the Marketing wallet? Is there a Marketing wallet, and if yes, how much BNB is in there?
Giammarco: The Marketing wallet consists solely of $FNDZ. It is used to incentivize traders, pay for LP mining rewards, as well as staking rewards, airdrops and all other marketing activities. The Marketing wallet is used to promote the growth of the FNDZ platform.
Q3. What can I do with the $FNDZ token?
Giammarco: The $FNDZ token has multiple uses. Vaults will automatically buy $FNDZ when a vault is set up. The amount of $FNDZ added to the vault will vary between 1 and 2% (depending on the vault settings). The $FNDZ are put into play in the staking contract starting in phase two (May) and users can start earning rewards the moment they stake in the form of yield from all profitable vaults. In addition, you can unlock higher performance fees as a vault owner. The best thing you can do is to read our utility article where we describe the entire FNDZ utility in detail.
FNDZ: Great thanks for the link too!
Q4. Is FNDZ planning on offering leverage trading?
Giammarco: No, we will not have leveraged trading on the platform, I'm sure you've seen the etoro ads where it says that "68% of retail investor accounts lose money when trading". Although the percentage is lower for experienced traders, they are still at the mercy of the markets and are not immune to major market movements. FNDZ is designed to be retail-friendly and the possibility of losing deposits is greatly increased if we offer leverage, so we decided not to do this to ensure that users' money is protected as much as possible.
FNDZ: Indeed no one like theses sudden market swings
Q5. What other features are you planning on implementing over the coming weeks/months?
Giammarco: In phase two we will close all user vaults for a brief period. It is worth mentioning that we will require all users and vault owners to withdraw their funds from the platform so that we can upgrade all vaults with new features and conditional order types, including:
We will also add open API endpoints that will allow people to plug in their bots and execute automated strategies. This will be a pure DeFi bot copy trading system that will open up an additional area to more traders. We will eventually integrate the onchain voting system, so that FNDZ token holders can vote on certain parameters in the future.
FNDZ: Lots of great things coming by the looks of it
Q6. How does staking work on the FNDZ platform?
Giammarco: Users will stake $FNDZ in the staking contract and this will in turn reward them in all assets traded on the platform. Users will be able to withdraw these rewards from the platform if they wish, or passively build up a diversified portfolio of assets. You will also need to stake a certain amount of $FNDZ if you want to unlock the highest performance fee as a vault owner.
FNDZ: Nice plenty of utility there.
Q7. How will the staking on the FNDZ platform compare to traditional staking, like the 14% APY on AscendEx? Is the expected yield on the FNDZ platform similar or higher?
Giammarco: It is not possible to predict the APY for the FNDZ staking contract as there are many variables that affect the amount of assets that are added to the staking pool; such as platform volume, TVL in the vaults, performance fees, redemption fees, number of trades, and a share of all official assets listed on the platform.
We expect the APY to increase over time as the platform grows and provides a decent return for stakers. To ensure that we are able to offer attractive rewards once the staking contract is live, FNDZ will allocate some $FNDZ tokens into the staking pool as the fee-based rewards build over the coming weeks/months.
FNDZ: Nice, I like the top up idea to get the staking going
Two more questions to go!
Q8. Will FNDZ have its own blockchain in the future?
Giammarco: Great question. No, we don't need to have our own blockchain because the FNDZ platform will integrate the most popular blockchains in the future. This allows us to use the most popular decentralized exchanges via the platform, such as pancakeswap, uniswap, etc. If we adopted our own blockchain, it would not be possible and would limit the functionality of the platform for users and vault owners, as it would limit the assets available for trading.
FNDZ: That makes sense, Ok on to the last question.
Q9. Where will FNDZ be in the future?
Giammarco: We have over 1000 unique users currently testing the beta version, which we are very pleased with. Once the platform is live, we will be looking to expand it on a large scale. We will aim to increase the number of users and of course the TVL. Users can vary in size and deposit limits. We want to reach a TVL of 1 billion USD eventually. The next step for us is to increase the number of unique users to 10,000 and from there we will set our sights higher. What would be cool is to do cross-chain EVM expansions where a lot of retail money is sitting that needs to be serviced, more on that at a later stage.
FNDZ: Nice to see we are aiming big, the more users and vaults on the platform the better the staking rewards!
Well that's the last of the questions from the community, so we will end the AMA here.
I would like to thank Giammarco for answering on behalf of the FNDZ team and everyone who submitted a question! We look forward to seeing you at our next AMA!