Multivest Finance AMA Summary with Decentralized Club ✔️
Dear, Community,
Welcome to the recap of our AMA with Multivest Finance.
Our vibrant and enthusiastic community had a lot of questions to ask. To those who want to know quickly what Multivest Finance is about, we are sure this recap is gonna help you. So without further ado, continue reading 😉
✔️Introduction with Multivest Finance :👉
BILLY | Decentralized Club:
Q1. Can you guys please introduce yourself and also tell us a bit about Multivest Finance? @xelaMF @Rupert_01
TRAMS XELA:
Hello, I’m Xela Xanthin, director of products at Multivest Finance.
Rupert:
Hello, I’m Christopher Rupert, Director of partnerships for Multivest Finance.
Multivest Finance is a Decentralized Finance project built to enable cross-investment in the DeFi ecosystem.
Multivest Finance consist a group of 4 developers working together to bring about optimization in the DeFi space. These developers have identified a paradigm shift in the traditional financial market to the Decentralized Finance.
To every new Evolution their is always a room for modification for improved performance which prompted the birth of Multivest Finance.
We have identified a problem in the stereotype use of BTC which has limited it use cases in DeFi Protocol. To solve the problem we created Multivest Finance backed by Polychain Capital
BILLY | Decentralized Club:
Great 👍
Q2. What is so exciting about Multivest Finance that we should know about?
TRAMS XELA:
Today there are limited ways to use your BTC for decentralized finance, especially on the Bitcoin network. This is why an increasing amount of Bitcoin holders are wrapping their BTC on Ethereum to use finance protocols for earning interest, borrowing against their position etc.
Multivest is going to make it easy to use cross-chain assets such has wrapped btc on Ethereum network for more premium features to generate profits and earn income while leveraging our fleet of amazing products.
BILLY | Decentralized Club:
That’s pretty interesting.
Q3. Which are the most important achievements in 2020 for Multivest Finance?
Rupert:
We call all our achievement this year “most important”, we were able to raise over $100k this year in our first private Presale, All thanks to our first financial partner Polychain Capital, our development team was able to get all contract tested and running, the wrapping mechanism will be available first quarter of next year. But we already plan to give our users and investors the glimpse of what our tokens can do via Presale and reward program to incentivize early users like yourself.
BILLY | Decentralized Club:
Oh that’s huge . In your first sale only that’s a considerable amount raised
Q4. Finally, any sneak peek into 2021 plans for Multivest Finance? @Rupert_01 @xelaMF
TRAMS XELA:
Multivest is defining the DeFi space through it intuitive platform and fleet of amazing products to be released come Q1 2021.
We have loads of product release which we’ll be introducing to our platform for the year to come.
By the year 2021 you will be able to savor our liquidity pools, our wrapping mechanism and Most of all lending.
BILLY | Decentralized Club:
So points discussed above:
1) BTC use cases in Defi is limited . Multivest will solve that
2) Process to use cross chain assets will be made easier by Multivest
3) 100 k raised
4)Liquidity pools , wrapping mechanism and lending coming next year !
🐧Community ask Questions by Twitter ✔️
BILLY | Decentralized Club:
Twitter Question 1 : @Corrie_Dorf
Q. What is multivest updated project fundamental price and the value of MVT per user to reflect appropriate Growth? Is the team thinking of any buyback plan?
Rupert:
Question 1: We believe the value of $MVT in Months to come will be above $10, this is because we have quite a good number of use cases which will incentivise users to hold more of $MVT, couple with limited supply of MVT cap at 10M tokens and periodic burning we expect the price to shoot higher.
BILLY | Decentralized Club:
Twitter Question 2: @Greyhair_08
Q. Am so much interested in the liquidity mining of Multivest finance and its reward mechanism. Whats the the main consensus algorithm for a such incentivised Liquidity? Is it PoW or PoS.
Rupert:
Question 2: Multivest Finance It uses an elliptic curve signature algorithm called t-ECDSA — a more secure alternative to multisig that requires less space on chain this for wrapping of BTC to mBTC, and our token MVT will be the reward token to our Liquidity mining features.
BILLY | Decentralized Club:
Twitter Question 3: @Prettyboy071
Q. Multivest was born to solve what problem? What does it bring to the blockchain community?
Rupert:
Question 3: A major progression in the last year has been the demand for Bitcoin to be used as collateral on other blockchains, especially Ethereum.
The problem is the infrastructure, products and protocols for enabling BTC on other blockchains are very immature. Most BTC bridges have centralized parties we must trust to custody and mint the equivalent BTC on ETH. There are only a couple large liquidity pools for trading synthetic BTC. Although many of the lending/borrowing protocols have enabled these wrapped assets as collateral, there are only a few of these trusted protocols in the market right now.
With the maturity of smart contract infrastructure, the rise of DeFi, demand for fair launches, the potential of BTC in DeFi and the desire of community ownership of products, we decided to create. MULTIVEST FINANCE.
BILLY | Decentralized Club:
Twitter Question 4: @QuyenCao11
Q. Who are Multivest strategic investors? And what does multivest roadmap for 2020 look like? What are your final goals for this year?
Rupert:
Question 4: Our Main Partner and Investor is Polychain Capital, other VCs have also showed interest, as the news is moving around the space. One of our Major milestone for the year is the Investment from our major prolific Partner POLYCHAIN CAPITAL, we also have successfully completed integration plan with major exchanges like Compound, Uniswap and kyber Network in the use of our Bitcoin Pegged Token mBTC.
We’re looking to onboard more strategic partners in alignment with our goal and vision for Multivest Finance. as part of transperancy on our side we decide to publish the transaction details for 200k MVT received by Polychain Capital. https://etherscan.io/tx/0x3ff80dc44deaac2ce9cf22468ff6cde67cb8b3e35a1ee2ec6cdd60e768d7add0
BILLY | Decentralized Club:
Twitter Question 5: @Halady251
Q. Could you briefly describe Multivest Finance current and future community growth strategies as we all know that community is an integral part of any successful project?
TRAMS XELA:
Question 5: We are a full team of necessary potential, we have quite a range of skills in marketing products development and senior devs in solidity. Be rest assured of quality community engagement and proper information discernment. Our community governance model will be attractive to alot of investors and community members.
BILLY | Decentralized Club:
Twitter Question 6: @static_current
How did Multivest Finance came into the picture? Was it because current defi products lacked a lot and you decided to capture all this missing features and make a so called ‘all in one crypto platform ‘ ?
TRAMS XELA:
Question 6: Multivest finance was birthed when the need for wrapped token on ethereum blockchain became paramount.
Wrapped btc is currently 2.7 billion dollars, that is the dollar worth of the need of bitcoin pegged ethereum token called wrapped BTC alone couple with many other recent tokens, now mBTC is here to make it better, faster and cheaper via our very low fees structure and deployed contract strategy to earn amazing rewards when utilized for multivest products.
BILLY | Decentralized Club:
Twitter Question 7: @QuyenCaO11
Q. Why do you think MVT token is necessary for your project? What is the Main role of MVT in your Project? What are the Benefits of holding MVT in the long term?
TRAMS XELA:
Question 7: MVT is quite necessary for our Project in the sense that, its a incentivised token, meaning users of our platform will be rewarded with MVT for various activity done on our platform from wrapping of Bitcoin to Lending and many more features, so we believe users should be rewarded for more activity done on the ethereum blockchain. Holders of MVT will benefit from the periodic increase in price, has we the management will employ divers strategies to keep price up. Such has periodic burning of tokens and adequate adjustment to the market situation, e.g BuyBacks.
MVT will serve as the platform governance token which will enable participants to stake and earn high APY rewards while operating on various Defi network while mBTC is a fully Bitcoin-backed ERC-20 token pegged to the price of Bitcoin. It facilitates Bitcoin holders to act on the Ethereum blockchain and access the decentralized finance (DeFi) ecosystem.
✍️ Telegram live Questions answered by Multivest Finance ✔
Harsha Prabath:
How to participate in the pre-sale? What are the minimum and maximum Investments? Do I need to do KYC to participate in the pre-sale?
Rupert:
Presale is been held on Bounce app https://app.bounce.finance/fixed-swap/4822, and investment is currently not capped to give access to various range of investors, No KYC is need, remember this is DEFI.
Hugs Jis || Bdcrypto:
@xelaMF
WBTC and renBTC are have already bridged Bitcoin over to the Ethereum network, so why do we still need mBTC? In what ways will your solution be more better and unique than theirs to make users demand for it?
TRAMS XELA:
Thankyou, mBTC might be having same functionality with wBTC and renBTC as regards bridging the ETH/BTC network but we offer more rewards for making use of mBTC on the multivest platform.
When you bring your mBTC to multivest platform and use on our products you earn more rewards in $MVT.
which will encourage you to hold your mBTC and hence foster more utility for $MVT.
Rahman:
What future developments do you expect to attract the largest institutions? What exactly is the long-term vision of Multivest for its users? How can token holders benefit with $MVT tokens?
Rupert:
Quite alot of Benefit on holding MVT, will the release of our features, from lending to staking and liquidity mining, Multivest provides alot Strategies for Holders of MVT to generate profit and incentives, We have plan to speed up our Wrapping features, currently we have quite a good number of those institutions interest already.
Hugs Jis || Bdcrypto:
@xelaMF
Do you have any connections with Bithumb? I saw that you are using this template in your info “Bithumb partner”. Can you tell us about this partnership?
TRAMS XELA:
Yes, we’ve partnership agreement with Bithumb to have our multivest $MVT utility token and mBTC listed on the exchange platform and we’ll be working closely with the Bithumb team to foster more use cases for our products in the APAC region.
Uci Suryadi:
Hello @Rupert_01 and @xelaMF
it crossed my reading, the $MVT token will definitely soar in price once the product reaches the Defi room. how can you confirm this? what must we do to achieve this?
TRAMS XELA:
We can confirm this considering the demand for our products by institutional clients.
We’re working to make the project community oriented at the early stage hence we’re limiting our partnerships with institutional client at this stage so we can build together with our community afterwhich community will decide through our voting system their choice of partnerships together with the management team.