AMA Recap with BSCLaunch
In case you missed our recent AMA, we have you covered.
Here’s a full summary of Glitter Finance AMA with the community of BSCLaunch. We dived deep into some insightful details on the idea, tokenomics and utility, collaborations, unique features of Glitter Finance, our expansion plans, and roadmap updates.
Read the AMA to know more about our updates, news, and announcements.
Q: We would love to know about your role and day to day work experience in the project?
D: I am the Founder and CEO of Glitter Finance. I run daily operations, strategic initiatives and partnerships. Further, I am one of the two visionaries that created Glitter Finance (the other being Gail Dobrovitsky, my wife).
Q: Can you tell us all more about the project, the idea, how it started? Especially why it’s needed?
D: Glitter is needed because it’s incredibly important to create trust between non-crypto/DeFi users and the innovation in the DeFi sector. Glitter Finance aims to do this, with our mentality focused on creating trust in the DeFi sector with the non-crypto community.
The idea started two years ago when Gail told me that I should create technology that would streamline the connection and trust between normal people and the crypto and DeFi sector. I then tried to build such a platform through three other projects. Glitter, is my 4th attempt, and the one which is closest to this vision.
Q: Can you tell the community about tokenomics, token utility and TGE?
D: Total supply is 500 million, which is divided between the XGLI on Algorand, at 125 million, and XGLI on Solana, at 375 million. The XGLI is a DAO governance token, with deep functionality within the community. It allows the DAO members to vote on multiple facets of the platform functionality and improvement. Some of these include helping us whitelist and do due diligence on the yield farms which Glitter will integrate within our platform. The IDO date will be March 10 and listing on CEX is on March 12.
Q: Why would you want to have Private sale on BSClaunch?
D:I think BSCLaunch is a very professional platform and team, which gives me the ability to both trust your organization and to work with you to raise for Glitter.
Q: Can you tell me more details on Glitter Finance’s Pre-sale and IDO? The schedule and contribution for each?
D: IDO for Glitter will be on March 10, and will take place on our partner launchpads. These include: Solstarter (XGLI on Solana), Aegis (XGLI on Algorand), and Solster (Algorand). Please inquire with our launchpad partners as to the contribution procedure.
Q: How can you balance your tokens? Do Glitter Finance have a token burn or buyback program? Inflation is an important concern
D: I don’t want to go into the specifics of our token mechanism before launch. The biggest way to ensure price stability is having a great technical platform that backs your token, and I believe we have this.
Q: Collaboration and partnership are the key factors to help a project enter a new market and increase its adoption. Please name some of your current partners, expansion plans, and what can be looked forward to through these collaborative relationships?
D: I have already mentioned our Launchpads. I will also note the three layer 1 foundations that are our investors. These include: Algorand Foundation, Polygon Foundation, and Cudos.
In terms of expansion, we are going to integrate more chains into Glitter as we move along. We will also develop our own layer 1 solution.
Q: Could you please provide some info about your Roadmap?
D: Currently, our community can expect the rollout of our Algorand to Solana bridge, before the end of February. In March, outside of our IDO and CEX listing, expect us to roll out a special Metamask we have developed, which can house Solana tokens wrapped in Ethereum. We have also developed a new token minter for Solana, which will be part of our MVP rollout, on February 25th.
Q: What are its main characteristics and key features that distinguish Glitter Finance from other projects and what competitive advantages does your project have?
D: There are two main characteristics that distinguish us.
- We are creating a ton of tech. Unlike many projects, we are not just coming out with a token, and then leaving the tech for much later. In fact, our testnet MVP rollout will happen two weeks before our IDO and CEX listing.
- We are thinking of the normal consumer in creating our platform.
Q: Security and anonymity are always prioritized by BlockChain projects in the development of project platforms and technologies. So, do you have any technological solutions or plans to enhance user trust in these issues?
D: We are currently not working with a blockchain that works with anonymity. However, I am not closed on this and may do it.
Q: What are plans for global expansion? Are you focusing on the market at this time or focus on building and developing or getting customers and users, or partnerships?
D:Main expansion plan is to create the Glitter Network, a blockchain and remittance platform.
Q: Do you have plans for Hackathon so as to check the security of your ecosystem periodically and also invite developers to build?
D:Our Principal Software Engineer, Mohammad Ghiasi, is an experienced developer and Algorand development ambassador, and has participated in many hackathons
Q: Do you have any Bug Bounty to check for weakness? In what way do you plan to make your project more complete.
D:Yes we are planning to implement both bug bounty and community bounty programs.
Q: According to the project’s roadmap- what are your most important next priorities?
D: The release of our MVP, Algorand to Solana bridge around February 25th to the end of February.
