RoboFi $VICS— AMA Summary
This week we had an AMA in the official Tehmoon Walker Telegram Community, where Donna Lee from RoboFi answered questions from the community. We really liked how it went done and we hope to have another one sometime in the future! Dona revealed many special things about the RoboFi project, roadmap updates, and answered questions from the host about the DAO Bots.
Below is a recap of the questions and answers from the AMA session
Q : Please be so kind to introduce yourself to the Moonwalkers
A : Yes! Hello, everyone, Thank you for all your time today. We are very happy to be here. I am in charge of marketing for RoboFi (www.robofi.io) project. I am here also with my team. Personally, I have been in the financial software industry for over 8 years and have worked on marketing for a B2B trading software for the client such as investment banks, hedge funds, and prop trading firms. In the past 2 years, I have engaged in crypto trading and crypto staking wallet business, and now I am here to spread how awesome the RoboFi project is :)
Q : Can you give a brief summary of your team?
A : We have about 35 people with 5 key core members. We are crypto enthusiasts. Our core members come from technology, hedge funds, and high-frequency trading backgrounds. Our multinational teams are in different countries such as Vietnam, Russia, South Korea, Singapore, Indonesia, and India.
The core team have been working together for a long time. Over the past 2 years, we had been developing trading bots to generate yields in the cryptocurrency space. We also launched a custodian wallet that helps our users with staking and yield-earning activities.
Q : Where is the project-based ?And the team?
A : We all are from different countries such as Vietnam, Russia, South Korea, Singapore, Indonesia, and India. For the development team, the major team is based in Vietnam. Because that’s where our director is based who was former machine learning/IT lecturer in Italy
Q : Let’s start with the questions 😉 Tell us what #RoboFi is and what are you guys trying to showcase? The community is eager to know
A: Sure. Very exciting to share the details of what we are trying to achieve.
RoboFi (https://robofi.io/home/) is a DeFi platform that envisions a marketplace for revolutionary Dao crypto trading bots. With the effective use of blockchain technology, RoboFi seeks to bring consensus between bot creators and users in an ecosystem that encourages mutual financial growth and innovation.
Over the last 12 months, we identified the lack of a platform that allows bot creators to share their bots easily to their potential users.
Our goal is to allow bot creators to sell and raise funds for their bots easily, as well as for our users to have a platform that provides bots with reliable performance and security. Therefore, we started development on a project that supports the trustless interactions between bot creators and users.
Users will be able to store their bot tokens in our non-custody wallet as well as harvest their bot tokens to enjoy the yield earned by the bots. Some of the innovations in this project include the introduction of the IBO (Initial Bot Offering) process and the harvesting of rewards earned by bots while holding the bot tokens.
Basically, we are like a Polkastarter in crypto trading bots space. We let bot creators to list their bots through IBO and connect those bots with users/individuals/investors.
Q : There are plenty of bot creators in the market. Some are even hackers.How are you going to scrutinize these users and select only the legitimate ones?
A : That’s a great questions. Our team has extensive background in fintech and trading industry. We have built our crypto trading bots and also trading crypto for decades. So we knows how to select great bots. We have implemented very strict crypto trading bots criteria.
In this process, all the bots have to go through a very strict process. Same in IDO platforms, there are numerous scamp projects. To protect investors, IDO platform must select great potential project with their own strict criteria. We will do the similar way. All the bots must perform on DEMO and those selection period would take 2 weeks — 2 months process with minimum number of trades.
Most importantly, we will fund those bots too. So it must be great, otherwise, we lose too :)
Q : Who are the partners strategically helping the growth of RoboFi?
A : There are two important strategic partners helping the growth of RoboFi: 1) our users/community members who support our project and trust us. And 2) bot creators/bot developers/strategy creators who will build institution-grade, profitable crypto trading bot
Q : Who are the major Audience of RoboFi apart from bot creators? Is there any focus on non Crypto users, who don’t have any knowledge about NFT and DeFi?
A : Apart from bot creators, our target audiences are
1) any individuals who would like to leverage their crypto assets to earn,
2) traders who would like to automate their trading. Any individuals means who has knowledge or zero-knowledge. Just like normal office workers, house wife like anybody!
Q : How are you going to influence these people into investing in your project? As in the recent past, there has been so much fud around. These normal people often invest their savings in crypto. How are you going to safeguard their interests?
A : I think to beat those FUD is creating transparency platform that powered by blockchain technology. So RoboFi platform we record all transaction in smart contract.
Our platform offers not only crypto trading bots market place but one of the component is called RoboFi Earn. This is risk-free interest earning for people who prefer to be safe. We will also secure assets in RoboFi treasury with contracts and regular audits. So people will experience transparency
Q : Can you please give some more details about RoboFi earn?
A : In our Ecosystem, you will see several components including RoboFi Earn.
RoboFi Treasury is the bridge in which users deposit crypto assets (e.g., ETH, BTC, USDT,..) to get a copy of these assets in sTokens.
RoboFi Liquidity Pool is a pool where users can stake and earn VICS token.
RoboFi Bot Store(Marketplace) is the marketplace where users can buy DAO crypto trading bots.
RoboFi Exchange is the place for users to buy and sell bots’s tokens.
RoboFiEarn acts like the bank saving interests. Users deposit their assets and receive stable interest no matter the volatility of the market.
RoboFi Lending is a decentralized lending platform allowing users to join their favourite DABots community even when they do not have the required assets.
For more details, we share our one pager too. https://robofi.io/download/RoboFi_One_Pager.pdf
Q : What is RoboFi exchange? Please give a summary about it mechanism
A : As mentioned earlier, we have IBO(Initial Bot Offering) process. This happens when bot creators listing their bots on our platform after passing the criteria. When users participate in IBO, they buy governance share of the bots(bot token) and they will be the unique bot token holders. So RoboFi exchange is where Bot tokens can be traded.
Our users can sell their bot tokens in this exchange and there will be many buyers who wants to own the Bot tokens of their choice. Being a user, you will be able to earn by funding the profitable bots (profit sharing) but also by holding bot token (after the IBO), if bot token appreciates user will earn from this as well
Q : Let’s talk about the token. What is the tokenomics of your token, and how will you stimulate the users to hold your token in the long run?
A : Sure. I will share our tokenomics. (https://robofi.io/tokenomics/).
RoboFi project comes with 2 types of tokens: 1) VICS tokens that is the main token for the ecosystem. VICS is the main token, used as a “must” for Bots to participate into the RoboFi Ecosystem and do the IBO. , VICS will be used whenever users stake and use our services like when they purchase crypto trading bots. Bot creators will need to hold VICS to payout the profit of trading. Currently you can get VICS token on pancakeswap 😊
Every bot created in our ecosystem will come with their own set of Bot Tokens as well. IBO contributors will be getting Bot tokens in return for the VICS that they contribute. These Bot tokens will be used for Bot governance and rewards harvesting. So in the long term, VICS value will be appreciated. More users using our platform, more bot creators.. it will run in long-term :)
Crypto is our first start but we would like to expand to Forex and Equity market as well!
Q : And lastly, please tell the community a bit more about late 2021 plans? Please tell us about your Roadmap and milestones in the future
A : Sure. This is our 2021 roadmap. We are on track. Our platform will be released in Q3. Here our community can see some part of our development
So far we finished the RoboFi Wallet and RoboFi Treasury on BSC Testnet. Following our roadmap, this year our full focus on the tech side is to release the MVP. Not only that, but we would also like to extend our token network to ERC20. For the commercial side, we would like to focus on listing on necessary websites such as Coingecko, Coin market cap, and central exchange listings. Along with all these developments, we will keep building our community both for users and developers. We are very excited about all these this year!
Next year, we would like to expand our service to equity and forex. So Robofi will be a Defi platform that allows users to earn not only in crypto, but also in traditional assets. This could only mean that we will have all types of bots, and it will be a true DEFI platform where users can leverage with their crypto asset.
The AMA lasted about an hour with lot of interest from the community. Many insight views was shared by Donna Lee indicating what RoboFi plans to achieve as time goes on. So above are the AMA Summary. In case you might have missed it.
RoboFi (https://robofi.io/home/) is a Defi platform that envisions a marketplace for revolutionary Dao crypto trading bots. Through its IBO (Initial Bot Offering) system, community members can maximize their earnings in an easy, simple, and secure way. We create a safe and transparent environment based on blockchain technologies that help developers bring crypto trading bot platforms to the market. In addition, individuals will have easy access to these bot applications, thereby generating more earning opportunities. RoboFi ecosystem is fueled by the VICS token.