May 7, 2021
AMA Session with Satya Prakash Jena from GamyFi Platform (GFX)
Guest: Satya Prakash Jena, Co-founder / Head of Operations of GamyFi Platform
Host: Iris of MXC Exchange
Introduction:
Iris: Today, we’re honored to have Satya Prakash Jena, Co-founder and Head of Operations at GamyFi, to our community to give us a more intuitive introduction to their unique project.
Satya, welcome. Would you like to say hello and introduce yourself?
Satya: I’m Satya Prakash Jena, one of the co-founders and Head of Oparetions at GamyFi. I have multiple years of experience in Blockchain business development. I work at GamyFi to bring fair Blockchain gaming to everyone. 💪
GamyFi Global Community
GamyFi is a Gaming and E-Sports platform Powered by Elrond.
Website : https://Gamyfi.org/
Discord : https://discord.gg/JucR66gPzZ/
Twitter : https://twitter.com/GamyFi_HQ/
Telegram: https://t.me/GamyFi_HQ
Questions about the project
Q1
Iris: What is GamyFi? Can you share with us more in detail?
Satya: GamyFi is a blockchain fantasy sports application built on Elrond and BSC and will expand to multiple other Layer 1 Blockchains. GamyFi ecosystem has multiple applications such as Fantasy Sports app, Prediction Market, NFT marketplace, NFT game. GamyFi is trying to solve multiple problems with traditional Fantasy Sports applications such as fiat country restrictions and security problems.
Q2
Iris: What triggers you to launch GamyFi? What are some of the real-world problems/ pain points that GamyFi aims to solve?
Satya: We played multiple fantasy sports applications and found out that there is no truly global fantasy sports platform available. Therefore we decided to fill in the gap and build a platform where users from all over the world can come together and play. We also focus on security of users and are using multiple measures to maintain user’s privacy.
Q3
Iris: What are some of the challenges that GamyFi currently face? How do you aim to solve them?
Satya: We faced multiple challenges while building GamyFi, such as payment solutions, security, and more. But there was one solution for all of those problems, Blockchain! We decided to implement best of what blockchain can offer to build a truly unique and global fantasy sports and gaming platform.
Iris: Yeah — Blockchain is the best solution!!
Q4
Iris: Are there any exciting news or updates with regards to GamyFi that you would like to share with the users?
Satya: We have just launched our staking cohort on UniFarm where users can stake ERC20 GFX and we are working on launching our platform beta testnet very soon for our users to test. There will also be exciting rewards for testnet users too :)
Q5
Iris: If you were to summarize your project in 1 word, what would it be? Why?
Satya: Unique. GamyFi is the first Blockchain Fantasy Sports application which makes it very unique and special. It also is a global platform allowing users from all over the world to play and enjoy fantasy sports. GamyFi also provide multiple products under one domain and provides something for everyone. 😊
Free-asking Session
Q1. From your site, it says #Gamyfi is community driven, which means users can make proposals to improve the protocol. What is the minimum token requirement a user must hold before he can make proposals and will each proposal be taken into consideration through a voting process by the community for final acceptance or rejection?
Satya: Minimum threshold to make proposal is 25,000 GFX (0.25% of total supply). The proposal must have 500,000 GFX (5% of total supply) votes to be considered a success. Then it will be implemented by us into mainnet.
Q2. Are you a global project or a local project? Can anyone use your project without restrictions? Are there any countries that can’t use Stratis?
Satya: GamyFi is a global platform, anyone from anywhere can use the platform if crypto and fantasy sports is legal in the country in question.
Q3. What is the uniqueness of Gamyfi that cannot be found in other projects that’s been released so far? And how the demand of $GFX will increase in the future? or what steps would you take to increase the demand?
Satya: GamyFi is the first Blockchain Fantasy Sports application which simply makes it unique and special. As GFX is the native asset of the platform, users need GFX to join the games and to participate in tournaments. Users trade NFT’s on our NFT marketplace with GFX and also can use prediction market with GFX. All these user cases will drive value of GFX higher.
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