AMA with Neonomad
On the 28th of March, 2022 at 01:00 PM UTC, Decentralized Club had the honor of hosting Ernesto from NeoNomad for an Ask-Me-Anything session on their Telegram page with a community of over 70,000 people. It was hosted by Ella.
The session was divided into three segments. Introductions were made in Segment 1, questions from the Twitter community were answered in Segment 2, and live questions from the community members in attendance were answered in Segment 3.
If you missed this event and would like to know what NeoNomad is all about, you can find a recap of the interview here.
Information here should be researched and should not be taken as investment or financial advice. Also note that slight edits have been made for clarity, and links in this recap lead to images, documents, or other media.
Segment 1 – Introduction
Hi Everyone! Hope you guys doing well☺️
Today i am hosting an AMA session with the Decentralized Club.
My name is Ella and I will be hosting NeoNomad Finance in this session.
Let’s welcome our guest!
Hello @ella_xoxoo and welcome @everyone!
You’re welcome to DC! It’s good to have you here !😊
Thanks @ella_xoxoo and DC! We are stoked to be here 🚀🚀
So tell us! How are you?
How's your day going?
We are doing very well. The team is excited for the IDO next week and happy to do our first AMA with you today!
Let's start then🤩
Ready when you are :)
Thankyou for choosing us😊
Can you introduce yourself to the Community ?
I'm Ernst - one of the co-founders. I'm a data engineer and one of my specialties is agricultural systems and processes (that is where our AgDeFi NFTs come in). Would you like me to share more about our diversified team?
If you want! You can give us a little brief!
Sure, we are from many backgrounds which makes our ecosystem and vision so ambitious.
The NeoNomad team is composed of experts with experience in the following fields: trading, hedge funds, venture capital, agriculture, systems optimisation, software development & security in fintech. These experts bring their skills together to provide an all-in-one comprehensive Defi ecosystem that makes decentralised finance accessible to all.
Let dive into today's session🤩
Q1. Can you give a brief description about Neonomad Finance ?
NeoNomad Xchange is an all-in-one DeFi ecosystem that aims to make financial services available to all.
It provides a decentralized crypto exchange where users can buy, sell, invest and trade cryptocurrencies; a payments service that enables fund transfers and payments at point of sale with an integrated VISA card; and an NFT marketplace providing NFTs that are backed by agricultural, gold and silver real-world assets.
Oh and we have developed our own launchpad called NomadPad where we will be launching our token from.
Within our DEX there are great DeFi products such as staking, liquidity provision and yield farming where our community can earn rewards.
Kindly type"✅" after you are done answering!
Q2. What are the major products / features that benefits the user in your platform?
There are a lot of great DeFi/crypto projects out there that provide a range of services. But most projects specialise in one or a few services.
We provide a comprehensive ecosystem where users can access diverse financial services all under one roof.
Our major products and features are:
- On our multi-chain DEX, users can trade and swap crypto, as well as being able to conduct liquidity staking and yield farming. By using the staking and farming services, users can earn rewards in the form of LP tokens, APR, and APY.
- Our NomadPay payments services enable users to make both crypto and fiat payments. With Solana Pay, users can make effortless crypto payments quickly and at a low transaction cost. With NomadPay VisaX, users get an integrated VISA debit card. This enables you to spend the crypto in your DEX wallet at point of sale in the real world. VISA automatically converts the crypto into the local fiat currency at point of sale, so it’s an easy way for you to get more use out of your crypto in the real world
- Our asset-backed NFT marketplace enables you to invest in precious metals and in agriculture in an innovative way. Through MinDeFi, you can invest in gold and silver NFTs that are backed by a physical gold or silver bar. The bars are stored in a secure vault and are linked to the NFT by a unique serial number. You can request physical custody of your bar at any time. Through AgDeFi, you can invest in the future of food an reap the rewards. For example, CowFi provides unique cow NFTs that are backed by physical cows on a farm. You earn returns on your investment from milk production.
- NomadPad is our launchpad. NeoNomads get first access to the opportunity to invest into new projects via NomadPad. We are excited to provide a platform where our members can invest in projects with real potential.
- The NeoNomad CeFi dashboard is a one-stop-shop where you can see all your investments in one place. You will also be able to access NomadPay and request Swift Payments from the dashboard with NomadPay SwiftX.
ohh! it's an amazing thing if a user get access to all these under one roof😌
Q3. What makes the IDOs in NeoNomad Exchange different from other IDO's that are already exisitng?
yes we want to enable our community to access diverse financial services on one platform.
Good question Ella.
We feel that there is a bit of a slowdown in the GameFi and NFT art world. So the key differentiator for our IDO and ecosystem will be dynamic asset backed NFTs.
Imagine being able to invest in gold and silver backed NFTs as well as NFTS backed by real agricultural assets all in ONE place.
With our NomadPay integration we feel that it will be a great alternative to traditional banking and spending our gains in new ways.
It’s a good thing! If we can invest all in one place🤩
Q4. How a user can acquire $NNI token and what are the benefits ?
The best place to get NNI is by participating in our IDO on 6 April 2022 on Nomadpad (»https://app.neonomad.exchange/launchpad/) and Xt.com. You can become an early investor and get tokens at only 0.045 USD cents. Thereafter you will be able to purchase NNI on the 8th of April 2022, when it lists on NeoNomad Xchange and XT.com. The NNI token has a lot of uses in the NeoNomad ecosystem. We’ll have NNI-USDC liquidity pools, and the NNI token can be used for staking and yield farming.
NeoNomad offers a wide range of DeFi products and tools that provide multiple benefits.
By becoming a liquidity provider, you can earn LP tokens.
By staking these LP tokens in NeoNomad yield farms, you will earn additional NNI.
You could then either hold your LP tokens to earn additional APY, or you could stake your LP tokens in the NNI-USDC farm to receive an additional $NNI APR.
Additionally, users will be able to stake NNI tokens over a period of one to three months to earn APY returns.
It's a great initiative by you all🔥
So, moving on to the last question from segment 1
Q5.Can you tell us what are next major priorities in 2022 of your project?
Thanks Ella, it has been a journey to get here.
We are excited to be launching staking, yield farming, swaps on 8 April 2022.
We’re also looking forward to launching NomadPay in the next couple months.
And one of our biggest feature launches for 2022 will be our asset-backed NFTs! We plan to launch our AgDeFi and MinDeFi NFT projects in June/July 2022.
We’ll also be launching our CeFi dashboard which will provide a one-stop-shop where you can monitor all your investments.
You can see more by checking our roadmap, which can be found on our docs page: https://docs.neonomad.finance/neonomad-documentation/
Looking forward to it😊
So, here Segment 1 ended!
Let's Move to the segment 2 and take some interesting questions from our Twitter Community😊
Q1. Every project has an interesting story before it is created. What motivates you to build and develop great projects like this ?
This was one of my favourite questions - so expect a long answer
sure! go ahead! wanting to knoww more about Neonomad🤩
Over 1.7 billion people globally do not have access to banking services and many who do, have been severely disadvantaged by the centralized finance system.
Not only is CeFi flawed but it also makes investing and expanding your wealth extremely challenging as it usually requires you to have additional finances for the assistance of centralized organizations or brokers.
Moreover, the rate of inflation and the cost of living is becoming more and more demanding, and the wages of most people are not increasing with this demand. Therefore, we are passionate about providing financial investments that can help people sustain their cost of living while making investment opportunities easier to enable them to expand their wealth.
One of the ways we are achieving this is by providing investments in assets backed by precious metals and agriculture (people always have to eat). We are not only motivated to make investing easier by removing middlemen, but we also provide useful educational guides to empower people to be in control of their investments.
Additionally, our team's background shows a diverse combination from the Hedge Fund and VC space, to agriculture, blockchain technology, and engineering. There is a demand amongst individuals to take back control of their own finances and this motivates us to provide people with that opportunity. NeoNomad plans to do this by providing a platform to invest, “bank”, spend & move from one platform to another as desired. 😃
Our vision of our Ecosystem is that of a sustainable and inclusive parallel economy.
The word Neo and the word Nomad resonated with us and so we decided to combine them into what we believe is what we stand for.
A NeoNomad is an individual whose movements are governed as much by work obligations as by the desire to change their relationship to the world and the social-and financial structure as known globally today. NeoNomads are people without a fixed sense of belonging to a given system. They are digitally geared global citizens, part of an inclusive and sustainable financial and social ecosystem.
We also felt that it’s a great name to build a brand around.
Q2. As the DeFi projects become more and more popular, there are many attacks that lead to millions in loss. What security approaches will you implement within the DeFi apps on your blockchain that will give investors confidence about their asset safety?
We have security experts in our development team with experience in white hacking....In addition, we are also following the advised route of getting everything audited (code as well as smart contracts) with a reputable company like Certik and Slowmist. We also have a bug bounty program that will incentivize users to report any bugs to us.
Q3. To increase the value of tokens, it is necessary to use certain mechanisms, everyone calls them differently: buyback,burning of tokens, and someone even a Black Hole!So,what mechanisms for increasing the value of the token do you use,can you tell us about them?
For our IDO tokens, we have a buy-back mechanism in place to protect IDO participants. This means that if the price of our token falls below the IDO price when we list, we buy back the tokens.
For sustaining the increased value of our token we believe our asset-backed NFTs and other DeFi products and projects will continue to drive the value of our token.
Our supply is capped at 200M NNI (across multiple chains, not 200M on each chain) and our release schedule is over 5 years, which in itself protects against inflation.
OKayy! well- explained!
Q4. Currently there is a lack of services that connect directly with the banking world, could you explain the advantages and disadvantages of your NomadPay feature? Will it be available globally?
You’re right, there is a gap between the real world and DeFi. This issue is what inspired us to provide payments for both crypto and fiat, to bridge this gap. NomadPay enables users to spend their crypto in the real world with a VISA card that is connected to your crypto wallet. And yes, NomadPay will be available globally!
Remember we are powered by Solana - so integrating with SolanaPay will enable to scale and grow more solutions over time.
You can learn more about NomadPay by checking our whitepaper, which can be found in our docs: [https://docs.neonomad.finance/neonomad-documentation/tokenomics-fundamentals/whitepaper]
Last one from the segment 2:
Q5. I think many people are interested in the $NNI token, both in terms of characteristics and functionality. So can you tell us what are the advantages of holding $NNI long term? What steps would you take to attract more users and educate them?
The NeoNomad team envisions a parallel financial economy where users can manage and grow their own wealth in a sustainable way.
That is why we provide services that give users long-term value. As we touched on in our previous answers, Nomads can use our staking and yield farming services to earn rewards in APY & APR.
The longer you stake, the more you earn. Additionally, our payment service NomadPay also provides long-term value by enabling people to use their crypto holdings more easily and more freely.
Furthermore, our asset-backed NFTs present a new kind of investment that can provide long-term value and return on investments; for example, people who invest in AgDeFi can get annual returns on milk production from cows, as well as returns from crop yields when you invest in a crop.
This we call “Real” Yield Farming. In addition, NeoNomad will be releasing new products with high rewards an NFT marketplace, and more!
We also provide services to both experienced investors and those without much experience. By providing an all-in-one ecosystem, we aim to make financial services more accessible to those who may not necessarily have invested before, while simultaneously making it easier for all users to manage their finances. Moreover, to educate people we have provided guides and tutorials on our docs page to enable everyone to learn how to use our DeFi products and invest their funds themselves. We have also been using our socials to post articles that enable people to learn more about cryptocurrency, business, and managing their own wealth. We will also be releasing articles on Medium to educate the community on all things crypto.
So in summary we don't just see our token a store of value but it also has a lot of utility in our ecosystem and beyond, especially with features like NomadPay.
providing guides and tutorials is a good thing! user will be able to invest at the right product!🤩
Greatttttt! Ending segment 2 with great questions and briefly explained answers by our Guest!☺️
Thanks Ella :)
Moving on ,
Time to take up some questions for segment 3 from our live audience! Guyss be readyyy to shoot your questions😉
Time to take up some questions from our live audience! Guyss be readyyy to shoot your questions😉
In this 3rd Segment, Opening the group for some seconds!
Please pick five original questions to answer.
Try to ignore generic, and copy-paste questions 😊
Dear community, as a measure to deter bots and reward hunters, please include the guest’s full name in your questions so the guest can tell original questions apart!
DO NOT TAG THE GUEST
Unmuting the group in a bit🤩
---Chat was then opened for the live community to send in their questions---
Segment 3 - Live Questions
I want to ask about your gold and silver. how do users know that the gold they have is real gold? will each gold have its own certificate!?
Great question Alonso.
We have a couple of mechanisms in place. Yes there will be the South African Gold Exchange certificate that will be issued and linked to each NFT. Daily vault audits of the gold and silver holdings will be conducted. Lastly we are integrating with Chainlink to provide a daily "proof-of-reserve" feed on-chain.
You can also request physical deliver of your gold and silver bars globally.
Is $NNI IDO whitelisting for Nomadpad Live now?
Yes it is live now until 5 April 2022 > here is a link for you to connect your wallet and whitelist > https://app.neonomad.exchange/launchpad/
NB: Our IDO will start on 6 April 2022
Do you have plans to expand to other networks like Polygon, solana, Polkadot, etc? The integration of a bridge in different chains is very useful for investors and their assets in terms of cost reduction in rat.
We do plan on expanding to multiple chains. We are currently running on Solana (SPL) and are bridging to Ethereum and Binance Smart Chain. Which will make NNI available on 3 chains. We will look at adding to our ecosystem based on the demand after IDO. [Topind]
How much value do you place on each and everyone of your users and how do you intend to ensure there is financial stability and sustainability growth within the community?
As Nomads in our parallel ecosystem we place great value on the feedback from our community members to build and develop products and investments to propel the revolution of decentralised finance.
To enable this NeoNomad will launch quizzes and virtual meet-ups to get constant community feedback from members who have invested in our project and want to see it succeed.
How is NeoNomad Finance Unique? How is it different from other Decentralized ecosystems? What are those features that NeoNomad finance have that we can't find in other platforms?
Greater ease of investment in alternative asset classes: Our key differentiator is our dynamic asset-backed NFTs - this is on top of all the regular DeFi products and tools out there , like staking and yield farming .
For the short term our alternative dynamic NFTs will be agricultural assets like nut trees, blueberry bushes and dairy cows.
Don't forget the gold and silver NFTs.
In the long term this can be other investments.
From a features perspective the all-in-one dashboard where can you view and manage all these different asset classes is also a differentiator. 🐮🚀🌑
Wow, great questions. We wish we had more time to cover them all
With all these Amazing answers,
it's a wrap! 🥳
Thank you dear guest for your time with us today 😉
Cheers🥂 to you and your team at Neonomad for their time and effort in making this project a success!
Thank you Ella, who knows perhaps we will launch one of our AgDeFi or MinDeFi projects on here with an AMA as well
Greaaat! Looking forward to it🤩
Once again! Thankyou for choosing us😌
AMA ended! 😊