GAINS Associates
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GAINS Associates

Defi11— Telegram AMA — May 14

On Friday, May 14, we had the pleasure to welcome into our Telegram chat:

Tushant Suneja, Operation Manager at DeFi11.

We asked him questions about the development of DeFi11.

Some sentences have been slightly edited for readability but the meaning has been conserved.

Summary

DeFi11 is the world’s first DeFi powered fully decentralized gaming ecosystem for fantasy sports, prediction markets, sports betting, NFT gaming, etc. DeFi11 strives to solve the issues of transparency, accountability, and security that often plague the world of fantasy sports.

The D11 Token is built as a unique gaming utility token on top of the D11 Protocol which you can use to pay contest fees, buy assets, redeem game rewards, etc into a $D11 token for fiat swap or redemption.

D11 will enable cryptocurrency token holders to fund the operations of the platform’s game developers users via a liquidity pool. D11 will keep a small margin of the interest rate on those loans and pass the remaining to the liquidity providers.

Introduction

Q — Ayeley from GAINS: What did you do before crypto and did you have any other previous venture in crypto? And what is your role at DeFi11?

A — Tushant from GAINS: Hi everyone! I am Tushant Suneja, the Operation Manager at DeFi11. Before crypto, I was with Citibank as Data Analyst. Before that, I started from a software background. Seeing the current business strategies and getting an understanding of the business, I got into analytics, until I was offered a role as an Operations Manager at DeFi11.

About Defi11

Q — Ayeley from GAINS: What is the project about in a few simple sentences? And For how long have you been working on DeFi11?

A — Tushant from GAINS: DeFi11 is the world’s first decentralized fantasy sports ecosystem. Assuming, all of you know what a Fantasy Sports Application is, you would all know that it requires a list of your personal things as information before making your account. After that, there is bias while deciding the winner.

To change all the problems that were faced while using a centralized system. DeFi11 would help in making a Fantasy game for all the users. That is so simple that you don’t need to enter any of your information for playing and winning in your contests.

I have been associated with DeFi11 since the beginning. I was so intrigued by the idea that I couldn’t resist being onboarded !!

To give you a detailed point by point difference:

Q — Ayeley from GAINS: How many people are on the team?

A — Tushant from GAINS: The team consists of dedicated and hard-working 16 members and growing.

Q — Telegram user ꧁ ᒍᑌᗩᑎ ᔕᗩᑎᗪOᐯᗩᒪ ꧂: Why the name “DeFi 11” Do you offer 11 products? 11 innovations? 11 features? Or is it just a name?

A — Tushant from GAINS: DeFi signifies Decentralised Finance.

While 11 depicts the gaming ecosystem, 11 games come under the umbrella. All games are unique in themselves. All our games are completely DeFi powered and decentralized.

Q — Twitter user @Carl_crip: What protocol requirements must a developer or investor follow when registering on the platform? In your whitepaper, you mention something about additional incentives to give users a freemium gaming experience. Can you elaborate on this a bit?

A — Tushant from GAINS: You can visit our website or download and install the App from here. On creating an account on our Alpha App, you get 25 D11 tokens as a joining bonus.

After the listing, the coins go to whatever rate would be in the benefits of the users as they have the 25D11 coins. Along with it, they can participate in the giveaways to win 1000$ worth of D11 coins weekly. Plus in the contests, there are winners also.

Token

Q — Ayeley from GAINS: What is the token use case and how does it capture the value of the ecosystem you’re building?

A — Tushant from GAINS: The D11 token is a fee settlement, staking, and loyalty token for the DeFi11 ecosystem and all its associated games to come in the future. The token facilitates additional functions as both deterrent to bad actors (via its staking function) and as a payment option, offering additional discounts to its users. List of token functions:

● Fee settlement
● Staking upon registration
● Reward claiming
● Game Dev Financing and Loyalty payments (for Game Players/ D11 Users)

The D11 Token is built as a unique gaming utility token on top of the D11 Protocol which you can use to pay contest fees, buy assets, redeem game rewards, etc into a $D11 token for fiat swap or redemption.

Security

Q — Twitter user @Isa05962747: I understand that all the transactions on your network are P2P with no involvement from the platform. How do you preserve the security and anonymity of your users with each transaction? Is there a support system for raising any problems?

A — Tushant from GAINS: For security, audits are being done from multiple 3rd party applications with a wide name and game in the blockchain security domain. Along with it, we are totally non-custodial. So we don’t keep anything with us. All the transactions are open and anyone can view them.

Finances

Q — Ayeley from GAINS: Did you raise funds so far? If so, how did you handle them? Are you planning to do any future raises?

A — Tushant from GAINS: Yes, we were oversubscribed by 2.5x in our seed and private sale round. Numbers would be disclosed soon on our platforms anytime soon. There will be a special screening for future raises based on some criteria that would prefer quality over quantity. More details would be out on our website soon.

Business Development

Q — Ayeley from GAINS: What stage is the project at and what should we look forward to in the coming months.

A — Tushant from GAINS: This is our project roadmap

As you can see we are already in Q2 — All other targets are completed and TGE & IDO is on track as planned! Due to the current world situation, we wanted to delay. But everything is going according to plan with minor changes.

Because the response is overwhelming and we want to live up to the expectations. For Q3 our beta launch app is already under the testing phase!!

Also, I don’t want to make it simple, because at the end of each quarter there are big surprises planned too!!!

Q — Telegram user Bea 🐝 Evolet 🏵: Why is your app only available on Android? When can iOS users be able to download it?

A — Tushant from GAINS: Our iOS app is under review and will be out soon for all those iOS lovers. I can understand the pain!!

Q — Telegram user Kaulxp: For now is DeFi 11 only targeting the crypto space? Are there no targets for others in the future? And what about real-world companies?

A — Tushant from GAINS: DeFi11 is not limited to any space. It’s the most beautiful and seamless mobile application that makes your life easy in just a click and you can sit back and enjoy it while having zero knowledge of crypto!!!

Q — Telegram user The Curious 👀: Is Defi 11 intended for players who know nothing blockchain? What strategies do you have in mind to facilitate the adoption of the game by these users?

A — Tushant from GAINS: As for those who aren’t familiar with Crypto. We will be bringing up updates where we would upgrade the native wallets that they use in day-to-day life for joining contests and enjoying their fantasy games.

Also, we have some documents along with video available that would be in layman terms so they could get the idea of how to use it and be a part of the revolution!

The main reason you should buy $D11 tokens is that they are based on the project. This is unique in itself and it’s a hybrid of two of the highest-grossing industries i.e Gaming and Crypto. As those who have been in here for like years from both industries see the potential and are already in the process to be a part of this project.

The Benefit of holding this token is we are a community-based company. So we plan everything so that our loyal and trustworthy customers are shown respect and benefits. Also, the new members of our community are given surprises regularly so they also feel special.

Q — Twitter user@Lidiamga: DeFi11 will have the functionality to add/change certain features on very rare NFT cards. What will be the features that DeFi11 holders will be able to modify on NFT cards? What do you hope to achieve by giving the power to modify NFTs to your users? What is the purpose of this?

A — Tushant from GAINS: As I already provide with the use cases of the D11 coins. The same would be for the NFT’s.

With all the DeFi11’s NFT cards you can stake those NFT’s at a price that is dependent on some percentage. Each company that would stake our NFT would use different formulas to calculate the rate.

Along with it, the NFT marketplace is the next thing coming in soon. So, it’s literally huge and never seen before! It is a complete hybrid world combining virtuality and reality! It would be similar to the cards we used to play in childhood. Completely designed by us and kept as an asset until its value pops up.

Tushant, it was a pleasure having you in our group today, and taking the time to answer all our questions. Anything else you’d like to say? Where can we follow you to stay updated? — Ayeley Commodore-Mensah from GAINS Associates

For those who wanna be first one to use our Beta App and Win exciting rewards

Please visit our Website | Twitter | Telegram | Telegram Announcements. Thanks guys for being such a lovely audience! — Tushant Suneja from DeFi11

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