Deficliq AMA Full Transcript

6 min readSep 25, 2020

An AMA with DeficliqTeam was organised on 21 Sept at 11:30 AM UTC which was joined by Shantanu Kumar and Crypto Mount moderated the AMA.

Crypto Mount :

Let’s us know about urself and ur role in the company 😊

Shantanu :

My name is Shantanu and I am the CEO and founder of deficliq .I got involved in the crypto since 2017 which was enough for me to make me excited as how the blockchain and cryptocurrency works .Since then I have invested in more than 50 projects from all types of field and for last one year I have been highly involved in defi projects .

Crypto Mount :

Let us know something about deficliq in brief and short

Shantanu :

As u can read our punch line it says : unifying all defi features at one place on polkadot .

Deficliq mission is to democratize the lending market opening further possibility in this untapped space ,with the firm belief that everyone has the right to finance their endeavors in a safe ,secure and transparent environment .

As such we are the first company to provide both collateral and uncollateralized loans that too in both p2p and traditional ways , with more features like daily , staking, interoperability in one place as a polkadot substrate projects thus becoming a lending competitor in the fintech space .

Some questions were picked from AMA Tweet :

Q. What plans do you have to increase the global market and partners?Currently, which exchanges have Defi Cliq trading available?

Shantanu :

We believe in making as many partners as possible so it facilitates our customers to have most of the things at one place .making partnerships makes product more valuable and brings more exposure to both the partners .As a defi protocol we will be needing to partner with other defi protocols in order to make the product better.As mentioned in our article we will be doing partnerships with only first class companies ,we are already in touch with few of them and will be Announced to public at proper time .Right now we have not even started our private and public sale so we are not listed anywhere .As soon as we complete our sale we will be listed on various cex as well as dex.

Q. Can you list 1–3 killer features of Deficliq that makes it ahead of its competitors? What is the competitive advantage your platform has that you feel most confident about?

Shantanu :

As far as features are concerned then u can read our punch line which says : Unifying all defi features at one place on polkadot .We provide collateral, uncollateralized loans in both p2p and traditional way alongwith features like yield farming,token burn ,off chain governance, staking, interoperable and many more like privacy and anonymity .If we see about our competitors then u won’t find any project providing all above features at one place that too with interoperability .

Q. Currently, which exchanges have Defi Cliq trading available? does Defi Cliq in the near future have plans to be listed on a sizeable exchange?

Shantanu :

Currently we are not listed on any Exchange as we have not even started our private and public sale .Yes we have a plan to list on big Exchanges which can provide enough liquidity to our users and short as well as long term holders .Our official listing will be on some solid Exchanges while other Exchanges are free to list us if they wish .

Q. What is your strategy to make Defi Cliq token more valuable and how do you plan to support the price and supply of the token? Is there a Defi Cliq Token burning program?

Shantanu :

As mentioned earlier we have big plans to make our toke. Valuable which includes partnerships with big companies including Exchanges , bringing more and more users to our platforms and incentives them by giving them additional features than our competitors , making our platform more smoother and less time consuming .
Yes, we have token burning program as well .
As mentioned in the whitepaper we will b burning some part of gas fees on our platform thereby reducing the total supply and increasing the demand resulting in more toke. Value

Q. Investors are afraid of scam, exchange is afraid of scam, partners are afraid of scam, so what does Deficliq guarantee not to scam investors?

Shantanu :

Its true and we are also totally against this ,this is mostly done by anon and unregistered companies whom u can’t sue even if they have scammed u .

As everyone can see each and every member of our team is public and are well known faces .

Our lead dev has already worked behind plutus defi platform .

with UX guy is PhD and has experience of working at Yahoo .

Our advisor Ioana Frincu ha seen featured in Forbes 30U30 by Forbes for her Excellency in tech .

Coming to the registration part ,we are registered as a Pvt LTD company in Estonia so there is no way for us to scam any of our Investor even by 1 cent

Community Questions (Live):

Q. Why did you choose POLKADOT? What are the advantages of using these protocol?

Shantanu :

This is the question which is asked by many .So if u read about polkadot and eth then u will find how polkadot is better for defi protocols .We are seeing the gas war right now and Because of this people with low fund are avoiding defi protocols on eth .Example : An user won’t spend 50$ gas fee if he wants to take 50$ loan .Also the scalability offered by polka provides ease to defi protocols .Its quite necessary to communicate various defi protocols in order to have better liquidity .More and more ….

Q. If anybody thinks your project really likes a scam project, and they can’t trust this project. How do you make them believe in your project?

Shantanu :

They should schedule a call with our team or any of our team members .You can see the previous experiences of all team membersWe all are in public as well as we can connect them to our lawyers and legal advisors .

Q. Do I need passing a registration and doing a Identity Verification to Lend crypto assets , how will #Deficliq manage the security services and make Lenders trust in DefiCliq platform ? Where does you see that’s the weakness of Lending feature in traditional lending mechanisms?

Shantanu :

No, we don’t ask for kyc to use our platform.It’s completely private and we respect everyone’s privacy.There are various weaknesses like over collateral loans so it’s not affordable for people with low fund .Few defi protocols have been hacked previously which has affected the image huge .So security has been a big issue if we want to shift people from traditional finance to defi .

Q. Does the price of the token matter to you from an operational perspective, if the token price is $1 or $100?

Shantanu :

Not from operational point of view but from investors point of view it matters .And since investors are core part of our community so no project should be manipulated in term of price and dump like matic few months back .

Q. There are 3 core issues prevalent in crypto and blockchain:
Security, Interoperability, and Scalability.
How does Your Project plan to overcome these issues?

Shantanu :