Decentralized Club Ama with XTRA FUND
On the 18th of August, 2022 at 12:00 Pm UTC, Decentralized Club had the honor of hosting Franciszek Knez from XTRA FUND for an Ask-Me-Anything session on their Telegram page with a community of over 60,000 people. It was hosted by Kaptin
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 XTRA. FUND 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.
The event with @xtra_fund_official_2_0 wil begin in 5mins, please take this time to observe all rules.
Stay tuned 😃
Hello once again,
Now it’s time to begin
Let’s welcome our special guest @FrankSpinachi
Hello there @FrankSpinachi,
Welcome to Decentralised club
Pleasure to be here
Excited to have you here,
How are you today ?
I am good, we launched Giveaway yesterday and our twitter is pumping both for XTRA and https://twitter.com/blockrating_io which we will launch as XTRA.FUND
So I am happy for it 😇
Everyone take note!
We have 3 segments to go,
Shall we begin ?
Well, let’s go
Please type DONE after every answer to avoid being interrupted!
Got it ?
Basic Introduction with Project team
Q1. Can you start us off with brief description about Xtra Fund and its primary mission?
Of course, that’s why I am here 😎
Let’s go!! 🚀🚀
XTRA.FUND is a new type of DeFi platform that focuses on protecting investors’ capital and generating yield based on traditional finance business. We also want to change the typical DeFi platform and tokens mindset where you increase the number of tokens and not exactly the value of investment.
And for community, please give 👍 if you never heard about xtra before, if this option is available in this chat mode
Q2. Can you elaborate about the various rewarding mechanisms of Xtra Fund that will benefit its users even during price drop?
During price drops from 50–90% of the investment is protected (% depends on staking period) So for example if the price of token drops by 40% in time of staking you will be able to withdraw more XTRA tokens that will compensate the price drop and you will withdraw 100% value of your initial stake. That’s huge benefit in our opinion 😁
This is really interesting.
Q3. Can you tell us about the current running promotions for new users ?
Yes, we are offering 12% more tokens for new stakers if they stake $250 USD worth of XTRA.FUND Tokens for 365+,stakers will also get higher minimal % of investment protection (60% instead of 50%). IMO it’s one of the best offers we got so far. If someone is interested here you could join https://www.xtra.fund/?utm_source=telegram&utm_medium=AMA&utm_campaign=Decentralized+Club&utm_id=1808
I’m gonna pin that so everyone can get to it quickly
Don’t miss this opportunity guys 🔥🔥🔥
Q4. What is the utility of the $XTRA token and how does one acquire it?
Main utility is yield generation and protection of capital while staking, its all provided by XTRA PROTECTION algorithm. To get this utility you just have to stake the tokens on our platform so it’s super easy 👌
Dropping the last question for this segment now…
Q5.Can you tell us what are you guys next major priorities in 2022?
Continuing to refine our digital presence (upgrade website, light version, brand) as well as launch the further items on our roadmap including XTRA LAUNCHPAD make product even easier to use and known in broader audience, as we lack it at the begining of the project. So if you found our project valueable share it please 😇
That ends the first segment
Now to the next
5 best Questions from Twitter Gets Answered By Guest
Twitter Q1) From @Haroldj980
From what I noticed on your website. I see that Nft collection release will soon be Available. Can you tell us what benefits NFT owners have on XtraFund and what will your market place be like?
For now we are still looking into this topic and its correlation as NFT season stops a bit and we are focusing on our main product right now
Twitter Q2) From @_halimhat
Everyone comes out and say, “we are the first” what exactly makes the https://t.co/Rs75JeX8xf “pattern” simply different from the old market ways
In crypto we are the first working DeFi protocol that use protection algorithm and protect investors from price drops, there are some protocols that trying to do the same but they are not live yet
Twitter Q3) From @Spand_switzz
When you say “World’s First DeFi Platform WithPrice Drop Protection*” do you mean #xtra_fund is gonna have a coin which is gonna be a stable coin or is #xtra_fund gonna be like an investment platform please throw more light thanks
Actually it’s already working and we also have a coin already, it’s not a stable coin and price drop protection is provided by our algorithm and XTRA PROTECTION wallet that compensate for the price drops. Its a stable yield generating and investment protection DeFi platform
Really impressive 👍
Twitter Q4) From @Ezealmodels
First thing I noticed on your website was something about “Price Drop Protection*”. Since the asterick stated that “Terms & Conditions Apply,” I’m curious to learn more. But, I was unable to locate these terms and conditions on the website; could you please explain them to us?
Yeah conditions are as follows and depends on staking period and staking amount. % of protected capital is not always the same and it variates from 50–90% depends for long you stake the tokens: below 1 year its 50%, 1year -3 years (60%), 3–5 years (70%), 5 -10years (80%) and 10+ years (90%). Another condition is that you will have liquidation if you decide to withdraw tokens before the end of staking period (staked time/chosen stake period). There is also a term that works while the price of the token is rising, smart contract is share profit with staker and XTRA PROTECTION wallet — that’s the price for protection while token price drops. It has to be balanced :D
I know its quite complicated for the first time but calculations for each aspect of this project was made for a while
A minute to ready up please
yeah it’s needed
This is great,
You guys really went all out
Lat question now
Twitter Q5) From @Vicky64812448
One term that piqued my interest is the “XTRA Loan Fund” (XLF)
Can you tell me more about this XLF? Does it differ from the traditional way of obtaining loans?
How does XTRA Lending Fund (XLF) work and who can utilize it, then?
Are there any criteria to be met to use the XLF?
This is also more complex, so prepare for longer reading again
XTRA LENDING FUND (XLF) — is our bridge between traditional finance (TradFi) and decentralized finance (DeFi) whereby we have allocated a specific amount of tokens to be used in the short term business loan industry where we get high interest paid back, with part of that shared with our XTRA.FUND stakers as a high APY … basically during times of XTRA.FUND Token price gains we are able to also pay out a high APY thanks to this XLF and our partnership with traditional finance institutions. The XLF is meant more for investors / businesses
Kudos to the team 💪💪
That ends the twitter segment as well
Now to the last segment
Segment 3⃣ :
Questions from live Audience
Q.1 Are there any restrictions or conditions for a user to take advantage of the XTRA PROTECTION price drop? Do you intend to list the XTRA token on CEX exchanges?
We are talking with some CEX about listing, about conditions and restrictions you can find all in here https://www.xtra.fund/terms-conditions/
Q.2 I saw that you guys are going to do a 250 BUSD Giveaway. Can you elaborate on this?
Yeah we run this giveaway becasue we are now mobile friendly so it means people could stake our tokens via mobile. To participate you have to do steps from this tweet https://twitter.com/xtra_fund/status/1557762767725158403?s=20&t=hnk77lWuJhVXT4P-bPLr0Q
Q.3 IS This Your project only for elite investoirs, how abiout otheirs with small funds, is it open to everyone?
It’s for all investors not only for those with big capital, i don’t know where you take it from🙈
I would like to thank you for hosting this AMA and whole audience gathered that I could present the project before you 😇
Thank you too!
We wish you the very best!!
Best wishes to the team!!!