On the 10th of June, 2021 at 14:00 UTC, Decentralized Club had the honor of hosting Crypto Fume from the Phoenix DeFi Team for an Ask-Me-Anything session on their Telegram page with a community of over 30,000 people. It was hosted by DC Community Manager, Chris.
The session was divided into four segments. Introductions were made in Segment 1, questions from the Twitter and website community were answered in Segment 2 and 3 respectively, and live questions from the community members in attendance were answered in Segment 4.
If you missed this event and would like to know what Phoenix DeFi is all about, you can find a recap of the interview here. Note that slight edits have been made for clarity.
Segment 1 - Introduction
[Chris] Welcome @cryptofume from Phoenix Team. We're glad you're here!
Let's start the AMA😁
[Crypto Fume] Thank you. It's my pleasure to be here!
[Chris] Nice! Let's get started with our Introduction.
[Crypto Fume] Alright
[Chris] Introduction questions
Q1. Can you tell us what goals you came up with for the idea of PhoenixDeFi?
[Crypto Fume] PhoenixDeFi is founded by a talented team of blockchain enthusiasts. As the name implies, it's worked upon to be reputed as a true Phoenix in the Decentralized Finance (Defi), Blockchain, and NFT industry.
Also, The team has accumulated over 25 years of experience in blockchain technology, payments system, digital marketing, technology, payments, banking, and fintech.
One of the ardent goals of PhoenixDeFi is turning workable ideas into practicable decentralized solutions, ranging from development to conceiving complex blockchain solutions for large enterprises, as well as blockchain advisory.
Q2. Can you talk a bit about the features that will intrigue users towards PhoenixDeFi?
[Crypto Fume] - We have a very experienced, professional, and trustworthy team, and we really care about the community and investor's/holder's funds.
- We already produced working products and gave the PhoenixDeFi community an early success at it which assures the whole of us of a time-tested and durable system.
- We utilize a system that will prevent dumping, and raise the price of PhoenixDeFiswap periodically.
- Our $PNIXS token is a great utility token, we will release many standard products to support our primary token.
- Our information and work ethics are transparent, we share every detail with our community.
We also have working products and we timely release many features regarding gamification, NFT, lottery, etc for users to compete inside the platform.
Also, we will be working on more advanced decentralization features, as the governance is equally important because the platform will be ultimately owned and shaped by the community through the use, to grow our user base and partner with different official teams, exchanges, and companies to create unique rewards for the users.
[Chris] Very promising. Let's know then the product with this next question
Q3. What's the use case of $PNIXS and how do we acquire it?
[Crypto Fume] Thank you
Especially, the NFT concept is a very simple yet very powerful concept not only to the crypto community but also to us at PhoenixDeFi, and we’re just seeing the start here.
We work towards a movement using DEFI and NFT together, a thing where I believe we’re among the firsts. We’re using the NFT standard to represent real-life cases and by fractionalizing it we implemented a farming platform and other upcoming projects for it.
This is interesting in many aspects, top of my mind, it could be used as in our case, to represent a real-life entity with the exceptional upside of the decentralized liquidity of DeFi platforms.
📢 PNIX token is a next-generation reflective deflationary protocol built on Binance Smart Chain.
Its native reflect token PNIX is capable of gasless instant yield generation. This means that holders can generate yield just by holding the token in their wallet, without any further action required.
PNIXS is tokenomic of our high return yield farming. You can stack BNB, PNIX or PNIX-BNB to earn PNIXS.
Acquire $PNIXS TOKENS HERE:
$PNIXS Smart Contract:
Start farming $PNIX and $PNIXS: https://PhoenixDeFiswap.com/
🗞 Notes: PhoenixDeFi and PNIXS security assessments are undergoing on CertiK.
[Chris] How much was its total supply?
[Crypto Fume] Total supply is 500,000 with a weekly burn system.
[Chris] Wow. Too small a supply!
Let's hear this next question...
Q4. Why do you think PhoenixDeFiSwap will be the numero uno in AMM Dex?
[Crypto Fume] Yes!
Thank you for the question.
PhoenixDeFiSwap is the next generation of Automated Market Making (AMM) decentralized exchange, farming, and stacking on Binance Smart Chain.
Notable of mention, PhoenixDeFiSwap was built by DeFi App. $PNIXS is the native currency of the PhoenixDeFi platform. Stake, pool, and earn $PNIXS all on PhoenixDeFiSwap.
Below are some reasons why Pnixs will be the Numero UNO in AMM Dex:
1. Simple to Use
$Pnixs is easy to utilize and you needn't bother with any related knowledge to explore through the fundamental exchanging functionalities. The stage is intended to permit anybody to expand their benefits. You can credit your advanced resources for liquidity pools and consequently, you get liquidity tokens that would then be able to be marked to procure considerably more benefits.
2. High Returns
PNIXS acquaints inventive ways to make new revenue sources. Clients can get benefits utilizing the DEX and appreciate lower charges. They can likewise stake and homestead their tokens to procure remunerations easily. The organization upholds the exchanging and issuance of non-fungible tokens (NFTs). These collectible tokens are one of the quickest developing areas in the blockchain market as of now. They are acquiring esteem rapidly with some new NFTs selling for millions.
For those looking for a private crypto experience, PNIXS is an astute alternative. The stage doesn't need any KYC/AML enrollment. You simply need to interface your upheld wallet and you're prepared to begin exchanging. For security-centered people, this system is viewed as an additional layer of insurance from programmers or others looking to screen your income.
$PNIXS has been demonstrated to be exceptionally secure. For one, it's a non-custodial DEX, implying that the stage never holds your resources straightforwardly in enormous hot wallets. DEXs are significantly more secure than unified trades, therefore. Moreover, the stage has found a few ways to help advance its protected picture.
PNIXS coordinates different deflationary conventions to help keep up its symbolic worth. These conventions incorporate a few symbolic consumers. Stake, pool, and earn $PNIXS all on PhoenixDeFiSwap.
[Chris] What currently big CEX are you listed already,?
[Crypto Fume] Pnix is currently listed on Hotbit Exchange and Coin Tiger, while Pnixs got listed on BITMART Exchange a few days back.
And we've got an ongoing trading competition on BITMART Exchange at the moment where we're doing a huge giveaway of 27,500 PNIXS, details here: https://t.me/PhoenixDeFiAnnouncement/221
We're in official talks with other big CEX regarding listing and partnership as well.
Q5. What is your planning to achieve further this year?
[Crypto Fume] 1. We are working on improving our already launched farming platform and release more products soon.
- Improving current farming platform
- Launching NFT marketplace
+ Vote NFT item by PNIXS
+ Buy NFT item by PNIX
- Launching Lottery & IDO platform later May
2. Listing PNIXS on more CEX Exchanges
- Certik audits are still in progress. We need your support to vote for our project on the Certik website, so they can process it faster
- Launched NFT Meme Contest
- We have contracted with big Telegram & Twitter influencers to shill our project on many big channels & groups
- We are in contact with Big Media Blogs to review and post articles about our project
- We are in contact with good Banner Ads agents to publish our Banners ad across many popular crypto websites
- We are working with high-subscribers YouTubers to introduce Phoenix worldwide.
Lastly, our farming reward started as well and we burn 50% of this fee every week.
Farming link: https://PhoenixDeFiswap.com/
You can go through our roadmap here too
[Chris] What was the current APY for staking?
[Crypto Fume] PNIXS-BUSD LP
[Chris] Got it.
Let's move to the website questions.
Segment 2 - Website Questions
Q1. How has the experience and background of your team been effective in the success of your project so far and how do you aim to revolutionize the field of blockchain and NFT?
Telegram Username: @HanssDrew
[Crypto Fume] The team's rich experience has greatly influenced the product positively as can be seen in the milestones achieved in a few weeks of launching and the deployment of the swap and farming platform.
Also, Defi and NON-FUNGIBLE TOKENS (NFTs) are gaining popularity in the whole space especially the gaming and collectible wide, and they're one of the latest booming areas of the cryptocurrency industry.
However, the use cases for NFTs stretch far beyond gaming and collectibles. Developers are creating entire virtual worlds using NFTs, and we are still very much in the early stages of adoption.
Moreover, NFTs can be used in a wide variety of sectors, from the art industry to music, fashion, and much more.
- We are focused on online collectibles NFT, such as the much-loved CryptoKitties, whose popularity congested the Ethereum network at its peak in 2017.
CryptoKitties are unique digital kittens that can be bred to make more unique kitties, with certain characteristics deemed more favorable than others (such as eye color or fur pattern).
[Chris] Q2. How does Phoenix Swap deal with other DEXs currently obstacles to accessing DeFi services: high gas cost with on-chain transactions, liquidity being fragmented to various protocols and services, trade fee, subpar UI/UX, and lack of efficient market-making mechanisms?
Telegram Username: @Miguelfelixx
[Crypto Fume] Thank you @Miguelfelixx for this question.
To answer this,
PhoenxiDefi suitably leverages optimized optimistic roll-ups, A DeFi protocol, and decentralized derivatives exchange on, synonymous with another layer-two solution, being utilized for cheaper on-chain trades.
Also, the usage of a Decentralized exchange aggregator searches for the best rates on multiple DEXs, splitting the trade by several pools to retrieve the maximum amount of tokens possible all in one transaction. This can be quite useful for large trades where going through multiple exchanges will be beneficial to ensure a better exchange rate, rebating some of the value lost in gas fees.
In essence, the PhoenixDeFi approach to solving the challenges that exist in decentralized exchanges is to reduce the cost of the switch for cryptocurrency traders. If an on-chain platform can tap into multiple reserves, and lower the barriers of switching from one exchange to another by working with various wallet providers, then users can log into their wallets and execute a token conversion without ever leaving their wallets.
This allows receipts to access payments from any token that a decentralized platform supports.
Lastly, to improve our DEX among crypto users and make it more acceptable for transactions. We at PhoenixDeFi consider high throughput of DEX’s, Interoperable assets DEX’s, Highly liquid or aggregator order book as most important fixes required and which our team of developers is aptly working on. A notable concern is that the Interoperability of blockchains is a core concern for the blockchain ecosystem. To ensure blockchain-to-blockchain communication, cross-chain atomic swaps implementations are swiftly needed as well.
[Chris] Q3. Can you describe for us the long-term use case for MDEX using a Defi/AMM model; and to that end, the use case for the governance token $PNIXS?
Telegram Username: @alexdrewww
[Crypto Fume] Decentralized Autonomous Organizations or DAOs: This to us will serve financial operations such as fundraising, managing assets, implementing governance, etc.
Some of the other use-cases of Pnixs are Payments and Assets Management, Analytics, Tradings, Wallets, Infrastructure Tooling, and Tokenization.
Apart from the above fields, PhoenixDeFi AMM finds applications in all businesses to make decentralized finance.
[Chris] Well said, man! Very informative.
Let's get it on with the Twitter questions.
Segment 3 - Twitter Questions
Q1. What are your top priorities in 2021? Could you share some plans for the upcoming year? Which part of the project are you most focused on right now?
Twitter username: @Morganzzce
[Crypto Fume] Alright
Our road map can be easily accessible via
Also, below are some of the items on our desk and our progress reports, they're all our top priorities as one can't be done without the other.
- Lottery functions targets to release on next week
- NFT market place targets to release on earlier next month
- Farming V2 targets to be released
- Marketing YouTube clips have been made, Banner ads have been run on our ad agent.
- We will run more social marketing campaigns to promote our project.
We're also working on launching more products and improving rewards for our users.
[Chris] Great! Next question ...
Q2. Do you have plans to launch an nft marketplace if yes how you compete with other nft marketplaces existing currently and what all platforms could your nft be traded at and will you be launching any feature related to staking for NFT?
[Crypto Fume] NFTs are a super interesting and exciting integration that we have been exploring for the PhoenixDeFi ecosystem.
This is also mentioned in our roadmap here (https://PhoenixDeFi.finance)
We are working on ways to integrate NFT’s with PhoenixDeFi which will be a useful, engaging, and win-win situation for the traders, and also Creating rare collectibles/badges for top players, community members, token holders is something that has found traction in the team as well as the community.
We recently had our NFT Item competition where we gave out more than 1500$ as the prize for winners
[Chris] Great! Last question before we move to the live segment.
Q3. As we know, every successful project has a few stories behind the scenes. What's the story behind PhoenixDeFi success? What was that vision when it first emerged as an idea? Are there any special prototypes or upcoming PhoenixDeFi updates that you want to show/share with us?
Twitter username: @ElKunMUfergie
[Crypto Fume] Actually, that vision is to have a Numero Uno in AMM Dex With a wide range of products that practically impact the space.
❇️ The lottery will be live soon
❇️ NFT will be live in June!
[Chris] Cool. Impressive answers from the Phoenix team!
And are you ready now for the live segment? @cryptofume
After the questions posted from the community, you need to select the 4 questions that will also be the winners.
[Crypto Fume] Yes
[Chris] Cool. Let's begin!
Community, prepare your questions now!
Chat will be open in 30 secs from now.
---Chat was then opened for the live community to send in their questions---
Segment 4 - Live Questions
[Chris] Okay, @cryptofume you have now the floor.😉
[Crypto Fume] Alright
Error-prone Smart Contracts, How efficient and secure are your Smart Contracts. Phoenix Have you ever been through an external audit? Are you sure that this project is safe and good for investors' future?
[Crypto Fume] We implement our technologies based on the best proof-based practices to boost our security level. Our tokens are protected by a mix of hot, warm, and cold technologies to maximize our security protection.
We've completed an audit on smart contracts by Techrate and Certik audit is also ongoing.
Which one of these aspects is important for you?
1-Increasing Token Price & Value
2-Empowering Platform Development
3-Building Community Trust
4-Expanding Partnership Globally
In what order?
[Crypto Fume] With us, all the mentioned aspects are relevant, and we don't take community trust as a child's play as they're the heritage of our products. All three aspects are connected as we can't do one without the other.
Also, we've reliable departments manning the sections and they're well-experienced professionals for the said purposes hence one aspect can't lag while the other is affected.
In Greek mythology, the phoenix is a long-lived bird that regenerates from the ashes of its predecessor. Does this mythological concept have any relation with Phoenix DeFi Finance? How is this story related to your project?
[Crypto Fume] Yes it does, and that's a no-small part of our ecosystem.
We can summarize PhoenixDeFi utilities as follow:
1. Lucrative staking system that rewards stackers with Tokens
2. Core Liquidity lock mechanism to help stabilize the product's value and investor's security.
3. Massive burns mechanism as it is done weekly now on Pnixs — say goodbye to sell pressure and so on!
What role does the community play in the Phoenix? What have you done and will do to attract people to join Phoenix and build a thriving community?
[Crypto Fume] We've time to time promotions, competitions, and events targeted to reward the community members.
Also, we request, take, and put into use feedback from our community.
[Chris] I think that was all
@cryptofume do you have anything to say before you leave?
[Crypto Fume] Yes.
I must commend the Decentralized Club's Team for putting up such a wonderful community and also appreciate the teeming community members for having me here.
[Chris] Thank you for having us here! See you next time😃
[Crypto Fume] PhoenxiDefi OFFICIAL LINKS are:
🕸 Web: https://PhoenixDeFi.finance
💬 Telegram: https://t.me/PhoenixDeFiFinanceCommunity