AMA RECAP: DeFi Raccoons X GameFi
Date: 14th of September
Host: Sly Cooper
Guest: GameFi Protocol (Alex — CAO at GameFi Protocol)
Hello Raccoon Nation and DeFi Enthusiasts!
We recently hosted an AMA with GameFi. So here we are up with the AMA transcript, for those who missed the live session, this post will be a time saver & a feeder of knowledge for everyone.
INTRODUCTORY QUESTIONS
Sly Cooper | BD @DeFi Raccoons: Please start by introducing yourself to the Raccoons here today. What kind of background do you have prior to Gamefi Protocol (GFP)?
Alex: I’m Alex. Doctor of economics, former investment director of asset management company and senior executive of listed company. I’ve rich experience in blockchain, financial investment and project management.
We started GameFi Protocol project in March 2021. I‘m CAO (Chief Architecture Officer) of GameFi Protocol.
Sly Cooper | BD @DeFi Raccoons: Rich experience always will help moving forward. How long have you been within the crypto space overall?
Alex: I first bought Bitcoin in 2017, and I am a believer.
Sly Cooper | BD @DeFi Raccoons: Haha, still holding that one then? 😄
Sly Cooper | BD @DeFi Raccoons: 2017 surely brought a lot of today’s key players within the scene. =)
Alex: I hold BTC, BNB
Sly Cooper | BD @DeFi Raccoons: Both have been great hodls since 2017 for sure 😜
Sly Cooper | BD @DeFi Raccoons: How did you come up with the idea of Gamefi Protocol and the metaverses? What kind of things are you intending to build for the people — could you please shortly explain the basics of the project?
Alex: From March 2021 to June 2021, GameFi ushered in an explosive period. The number of daily active wallets for blockchain games increased from 51,000 to 375,000, an increase of more than 600%, and the number is still expanding.
Alex: An excellent GameFi is often a complex game ecosystem, involving different public chains, wallets, single or multiple token systems, game rules, and token economic models (Tokenomics), etc. Professional players need to evaluate GameFi’s security and P2E mode in combination with the above factors, and then profit by investing in digital assets in order to participate in the game. For most ordinary players, they are limited by their own professionalism and limited time, and it is often difficult to compete with professional players in GameFi, so that the input and output are not ideal and this even causes them losses.
Alex: Therefore, we began to build GameFi Protocol and the Platform, so that everyone who lacks time and professional skills can play and earn.
We believe that GameFi Protocol, as the entrance to the Metaverse, is an important carrier for humans’ future social, entertainment and even work, and a new digital world in which everyone will participate. We’ll become a Metaverse aggregate platform and trading platform that everyone can play and earn.
Sly Cooper | BD @DeFi Raccoons: That’s crazy figures, right? But 400k users is still peanuts — imagining what kind of upside that could have…
Alex: Of course, this is a huge market opportunity.
Sly Cooper | BD @DeFi Raccoons: Aggregator platform sounds something new into the P2E / Metaverse scene.
Sly Cooper | BD @DeFi Raccoons: Loving the player-friendly approach there
Sly Cooper | BD @DeFi Raccoons: Let’s dive a bit deeper into your solutions and mechanics next
Sly Cooper | BD @DeFi Raccoons: Could you please shed some light further on the product selection that you’ll be offering on Gamefi Protocol?
Alex: GameFi Protocol is the first GameFi mining pool protocol. It aims to build a GameFi aggregation platform to provide users with a low-threshold way to invest in GameFi. In addition to the basic services of game guilds, GameFi Protocol also has a variety of innovative revenue models such as Machine gun pool,farming (liquidity mining), and Gamelist(IGO),which provide users with a wealth of value capture methods.
Alex: Gamelist: The GameFi Protocol encourages outstanding GameFi teams to launch projects on Gamelist.
NFT: Users can freely trade game NFT assets and get rewards.
Gswap: The GameFi Protocol can help GFI holders to obtain free GFI token rewards through stake GFI or Forth in GSwap. Users can also conduct trading, farming (liquidity mining), and launchpools（Free launch of GameFi project)in GSwap.
Gminer: The GameFi Protocol can help most ordinary player users who lack professionalism and limited time, as well as users who are interested in GameFi, through GMiner to efficiently configure users’ digital assets into different GameFi, and cooperate with professional players to obtain maximum benefits.
Sly Cooper | BD @DeFi Raccoons: GSwap seemed to offer quite a wide range of functions itself with “staking, trading, farming and launchpools” as you mentioned.
Sly Cooper | BD @DeFi Raccoons: Regarding staking it caught my eyes that you were offering both manual and automatic GFI pools for your investors. What’d be the difference between those?
Alex: Manual GFI
1. You need to manually harvest GFI and reinvest GFI, so you will bear transaction costs.
2. The income is presented in APR (APY), excluding compound interest.
3. After obtaining GFI for free, you can withdraw and deposit it into your wallet.
Auto GFI
1. Automatically harvest GFI and reinvest GFI, only bear a small transaction fee.
2. The income is presented in APR (APY), including compound interest.
3. Every time GFI automatically compound interest, a small management fee will be deducted from the income.
4. After obtaining GFI for free, there is no need to withdraw and deposit it into the wallet.
Sly Cooper | BD @DeFi Raccoons: On which blockchain would you be launching this by the way?
Alex: BSC🥴
Sly Cooper | BD @DeFi Raccoons: Ah, so just effortless compounding for the users. There is a high difference between APR and APY so that’s surely needed =)
Sly Cooper | BD @DeFi Raccoons: Also, regarding that — how would GMiner’s Pools differ from the GSwap platform with the pools out there? Could w use a wider range of assets there?
Alex: Relatively speaking, GMiner is more like a pool.
Users can invest GFI, Forth, ETH, USDT or other tokens in GMiner into different mining pools to obtain GFI and Game/DeFi tokens. GMiner will reinvest these tokens into Game/DeFi assets that can generate revenue, and GMiner will continue to distribute revenue to users through GFI tokens and Game/DeFi tokens.
Sly Cooper | BD @DeFi Raccoons: Ah, gotcha. A good passive revenue stream for the holders there for sure.
Alex: exactly
Sly Cooper | BD @DeFi Raccoons: Generally we’ve often heard about the “Play-to-Earn” (P2E) mechanism within blockchain games but you’re bringing this one step forward by utilizing a concept called “Everyone-to-Earn” (E2E). Could you perhaps touch onto that a bit further — what would that actually mean? 😄
Sly Cooper | BD @DeFi Raccoons: Sounds rather refreshening 👀
Alex: As a Gamfi aggregation platform, we will authorize many high-quality games to launch(IGO) on the platform. So the games launched(IGO) on our platform are not only reward based games, but also games with high playability.
Therefore, anyone who has no time and professional skills can play and earn, that is”Everyone-to-Earn” (E2E).
Sly Cooper | BD @DeFi Raccoons: So basically, the users would earn revenue from the games launching through the IGO’s — is that what you mean?
Sly Cooper | BD @DeFi Raccoons: That’d be something else for sure 😄
Alex: To be precise, users will get income from games launched through IGO, and they will also get fun from games launched by IGO,that may be even more important.
Sly Cooper | BD @DeFi Raccoons: You already have quite a few games sidelined for the IGO’s I guess? 😜
Alex: Of course,we have a professional team and strict screening mechanism.
Sly Cooper | BD @DeFi Raccoons: What’s the role of the community when it comes to GameFi Protocol? I read that you’ll utilize a GFP-DAO, could you please tell what kind of things could the investors decide on and how would the DAO work in general?
Alex: Our community will be composed of Rewards developers who participate in the GameFi Protocol ecosystem-GameFi explorers, GameFi professional players, code contributors, bug diggers, etc. Of course, they need to hold a little GFI.
Alex: The GameFi Protocol supports GFI holders to form DAO spontaneously in order to carry out the community governance of the GameFi Protocol. The DAO implements a democratic system of 1 vote/1 GFI. The DAO can be decided by voting on:
①The rule setting of each function of Gamelist, NFT, GSwap, GMiner.
②GMiner project’s admittance into/rejection from the pool.
③Whether the Gamelist project should be online.
④Whether the new gameplay of Lottery/Grab bag should be online.
⑤Revision and improvement of GFI certificate economics.
⑥The strategic planning of the GameFi Protocol.
⑦More modifications and improvements of rules.
Sly Cooper | BD @DeFi Raccoons: So basically the more GFI you hold, the more voting power you’d have — right?
Alex: yes
Sly Cooper | BD @DeFi Raccoons: What kind of utility would the GFI tokens serve for the ecosystem of Gamefi Protocol besides the DAO? Could you please also share your token metrics in general?
Alex: The total supply of GFI is 228,705,882.
GFI is the driving force behind the GameFi Protocol ecosystem;
1.GFI can be staked in GSWAP to get GFI token rewards;
2.GFI can be used to purchase NFT products as well as GPST or MPST in GSWAP, and participate in trading, farming, and launchpools;
3.Users can invest GFI, Forth, ETH, USDT or other tokens in different pools within GMiner to obtain GFI and Game/DeFi tokens;
4.Users can use GFI to buy Lottery/Grab bag, and get bonus after winning;
5.GFI will also be used to reward GameFi explorers, GameFi game guilds, code contributors, and bug bounty providers;
6.Users who participate in NFT transactions will receive GFI rewards.
Of course, GFI is also an important tool for GameFi Protocol community governance.
Alex: GFI mainly achieves deflation through repurchase and burning, which have the following sources:
1.GMiner fund’s participation in the income of Game/DeFi projects
2.NFT/GSWAP Tx fees
3.Lottery/Grab bag revenue
4.Game List（IGO）income
In general, the holding value of GFI lies in the fixed amount, continuous repurchase and a wide range of application scenarios.
Sly Cooper | BD @DeFi Raccoons: Surely some option for the users to earn even passively with GFI, that’s some thorough use-cases there. Loving that you’re taking the Lottery feature there into use, it’s always fun. 😂
Sly Cooper | BD @DeFi Raccoons: Before moving into the community question — let’s have a brief look into the future of Gamefi Protocol. What kind of things would Gamefi Protocol have on its roadmap for the upcoming months?
Alex: This is roadmap.
And our plan is to launch Pancakeswap on September 15th, which is tomorrow.
Sly Cooper | BD @DeFi Raccoons: Yay, looking forward to it! How could the Raccoons get involved? Where could we stay updated regarding the latest insights for the listing and beyond?
Alex: The specific launch information is here.
https://twitter.com/bsc_daily/status/1437697443684966408
TWITTER QUESTION
Question 1 @hummingbridget asks: “I understood that the hardcore players of GameFi are also the traders of your pool. They basically partake in P2E by your professionalism. Now I read you have this pool called a Bug Bounty Program. What are its key features and components?”
Sly Cooper | BD @DeFi Raccoons: You mentioned about the Bug Bounty program but we didn’t dive into specifics yet — if you could shed some light on that? 👀
Alex: We have established a developer alliance: reward developers who participate in the GameFi protocol ecosystem-GameFi explorers, GameFi professional players, code contributors, bug miners, etc. The main purpose of the GameFi Protocol Bug Bounty program is to prevent the loss of user funds by focusing on smart contracts, websites and applications.
Sly Cooper | BD @DeFi Raccoons: Gotcha, that came quickly :)
LIVE AMA QUESTIONS
Question 1 @xperia3 asks: “I saw GameFi have an ambassador program. Are there still position? Are the applications still going on? What are the advantages of being an Ambassador in GameFi?”
Alex: Everyone can see that our incentive mechanism encourages people with specific blockchain knowledge to join the community as much as possible.
Specific details can be communicated separately.
Question 2 @QueenKarinaa asks: “Hello sir…. I read on their Twitter profile that GameFi now has a dedicated Korean Community Group and announcement channel. Do they have Spanish or Latin American speaking communities? What areas and countries has GameFi conquered so far and what expansion plans do you have in mind?”
Alex: We have gradually established a global community, including Southeast Asia, Japan,South Korea, Russia, North America, South America, the Middle East, Europe, etc. Ambassadors and volunteers are welcome to join.
Question 3 _______ asks: “Do you have tutorial videos so we can get to know your project more clearly or do you have a YouTube channel or something? can you share it with us?”
Alex: Here are some links.
Website: https://gamefi.ai/
Gitbook: https://gamefi-protocol.gitbook.io/gamefi-protocol/
Twitter: https://twitter.com/GamefiProtocol
Medium: https://medium.com/@gamefiprotocol1
Facebook: https://www.facebook.com/GamefiProtocol/
TG Channel：https://t.me/GamefiProtocol_Announcement
TG Global Group: https://t.me/GamefiProtocol
Github: https://github.com/gamefiProtocol/gamefiProtocol-contract
Question 4 @Lovely_DC asks: “Right now, there are tons of RPG NFT Games on the market, being Axie Infinity and Plant vs Undead the most popular ones. So, I was wondering, how does GameFi Protocol plan to compete with them? What characteristics does your game have that makes you a better option than them?”
Alex: Our team has rich experience in game development and project operation, with strong execution. As a Gamfei aggregation platform, we will authorize many high-quality games to launch(IGO) on the platform. So the games launched(IGO) on our platform are not only reward based games, but also games with high playability.At present, the track is still in the blue ocean.
We have received strong support from several listed game companies and will jointly launch the popular gamefi.
Investment institutions and industrial capital provide sufficient funds for project development.
Question 5 @Jmagsss asks: “In GMiner, you allow users to invest their $GFI, $FORTH, $ETH and $USDT to earn and obtain more $GFI. I am surprised that you included Ampleforth’s token in your platform. What kind of relationship do you have with them? Also, will add more token that can we used in the GMiner?”
Alex: We have received equity financing from Forth Ecological Foundation, IPFS Ecological Foundation, and Evolution, as well as cryptocurrency financing from institutions such as Waterdrip, Bitrise, ChainVC, K24, Gamma, Bitwhale, R8 BLOCK, etc.
Forth Ecological Foundation is our early equity investment institution and our deep ecological partner.
Question 6 ______ asks: “In GameFI.ai development how many games are under development and can I do a testnet before I play? And is there an easy guide on NFT on GameFI.ai coming soon?”
Alex: We will incubate some good games, and these games will be released on the platform.
The Game NFT can be freely traded on the platform, and users can also get GFI as a reward through NFT transactions.
Alex: Thanks all
Sly Cooper | BD @DeFi Raccoons: Thank you for responses Alex, good effort.
Sly Cooper | BD @DeFi Raccoons: Was a great pleasure to have you here today and hear more details regarding Gamefi Protocol. Hoping you loved the experience at DeFi Raccoons as well. 😊
GameFi
Website: https://gamefi.ai/
Gitbook: https://gamefi-protocol.gitbook.io/gamefi-protocol/
Twitter: https://twitter.com/GamefiProtocol
Medium: https://medium.com/@gamefiprotocol1
Facebook: https://www.facebook.com/GamefiProtocol/TG Channel: https://t.me/GamefiProtocol_Announcement
TG Global Group: https://t.me/GamefiProtocol
Github: https://github.com/gamefiProtocol/gamefiProtocol-contractDeFi Raccoons
Telegram: https://t.me/DeFiRaccoons
Twitter: http://twitter.com/defiraccoons
