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We were delighted to welcome our guest from FNDZ. The AMA took place on September 9th, 2021 and our guests were @HighRankingFNDZApe and @FNDZMOD .
The total reward pool was 500$ and was divided into three parts. In this AMA Recap we will try to summarize some of the most interesting points for you.
Part 1?—?introduction and questions from the Telegram&Bitcointalk community
Mary Satoshi Club: Hello Satoshi Club! We are happy to announce our AMA session with FNDZ! Welcome to Satoshi Club
Gold Rocket | Satoshi Club: Hello, dear Satoshi Club community! Today our guests are @HighRankingFNDZApe and @FNDZMOD
Robin I FNDZ?—?Will never DM first: Hi There!
Gold Rocket | Satoshi Club: Hello and welcome to Satoshi Club, guys
Valentino | FNDZ?—?will never DM first: Hello everyone!
Mary Satoshi Club: Welcome to Satoshi Club
Gold Rocket | Satoshi Club: Nice to e-meet you
Mary Satoshi Club: How are you guys? Ready to rock today?
Valentino | FNDZ?—?will never DM first: lets do it!
Robin I FNDZ?—?Will never DM first: For sure!
Gold Rocket | Satoshi Club: Let’s start! Introduce yourself please. How did you get to be involved in crypto & FNDZ
Tell us please about your position in FNDZ @HighRankingFNDZApe
and @FNDZMOD
Valentino | FNDZ?—?will never DM first: Yeh sure, so hey, Im Valentino, my background is a decade in crypto. From trading countless years, to helping structure ICO’s back in 2016, to building the first regulated crypto exchange and custodian in the NL, licensed by the dutch central bank. Now going into the defi landscape and building FNDZ?—?an accessible open ecosystem for everyone to join and copy traders of their friends/ family or from experienced traders.
Robin I FNDZ?—?Will never DM first: So, my name is Robin, I am the Founder of the TWR Investment Group, a private investment holding that owns several regulated companies in the centralized finance space. We are active with a team of 125 people spread over 7 physical office locations globally. I am in finance for nearly a decade now, with my entry in the crypto industry being approximately 5 years ago. As I moved to the background as an advisor to the board for most of my companies, I am now working nearly full time as a core contributor in marketing and growth to the FNDZ project.
Mary Satoshi Club: Deep crypto experience
Gold Rocket | Satoshi Club: Give us a brief introduction to the project. What is the essence of FNDZ
Valentino | FNDZ?—?will never DM first: FNDZ is the first DeFi platform that makes copy trading accessible from a truly decentralized point of view. Through the FNDZ platform, you will be able to copy your favorite and best performing traders (or even your successful crypto friend) without ever having to monitor the markets yourself. All you need is a wallet and with 1 click of a button you can copy the trader you want.
Our aim is to become a fully fledgedDAO (decentralized autonomous organization) and that’s why the term “contributing” is perfect. We contribute to the initial development of the project, but it will be the community, or rather the owners of the $FNDZ token that will decide the future direction of the project. Currently about 30+ people contribute to the project with decades of experience in traditional finance, entrepreneurship, brokerage, and cryptocurrency trading. Our team’s talents are tailored to the task of developing the world’s easiest to use DeFI copy trading platform. After all, this is a platform for traders, made by experienced traders. We look forward to showing you our product, gathering feedback, and improving the platform.
Gold Rocket | Satoshi Club: Also we would like to know more about your team. Who is on the project team core?
Robin I FNDZ?—?Will never DM first: Before we move on; to hook in there, Essentially ,what we are doing here is taking a long proven business model out of the centralized finance space, with names like E-toro and Robinhood, and deploying it in the de-fi space. We noticed that the only players that were around in de-fi were massively missing a very important angle in their platforms, namely: Simplicity. We are not trying to reinvent the wheel here, we just decided that we wanted no centralization in a successful business model like this, so we designed the platform in a way that both experienced traders and people already involved in the industry can find their way into the platform, but at the same time keeping it extremely simple for new people to jump onboard. We have chosen for de-fi, as we have seen the massive growth of the industry and at the same time being aware about the regulatory burdens etc. that are currently being created in the centralized crypto industry.
Valentino | FNDZ?—?will never DM first: Our core team you can find on the website www.fndz.io
Gold Rocket | Satoshi Club: Thanks for great introduction, we will have several questions selected for the Part 1. Ready to start?
Valentino | FNDZ?—?will never DM first: shoot off!
Q1 from Telegram @ItsMelissa3
FNDZ offers a very useful and highly commented tool: copy trading. In copy trading, we literally copy the positions of a successful trader directly to our personal investment account. Will FNDZ implement a reputation system that allows us to better choose the trader to copy? Can we copy the positions of more than one trader simultaneously? Is there a maximum limit of positions that we can copy per day? And I have a question regarding the traders who share their positions with users. Do they receive any kind of incentive for each position that is copied by a user?
Valentino | FNDZ?—?will never DM first: We have an in -house algo that ranks and indexes the top performing trader vaults. Performance is not only PNL % but based on a set of parameters which include but are not limited to volume, depositor amount, amount of trades, profitability, time of creation, etc. We are also thinking of adding a comment section per vault, so you can leave a comment and rate the vaults of your favorite traders. Which would be an additional measuring point to evaluate. The traders don’t share the position with users in that regard, the users contribute capital to the traders vault and the users automatically copy all trades that happen until funds are withdrawn. The incentive for the trader is that he receives extra performance and management fees on top of his already existing trading activity. The management is due at the beginning and the performance fee is due at each crystallization period.
Mary Satoshi Club: What is the amount of fees traders will recieve? Do you have any numbers?
Valentino | FNDZ?—?will never DM first: yeah of course, its subject to the trader themselves. When they create vaults they can choose a maximum of 3% management and a maximum 30% perfromance, they can of course lower it if they want. For example, a trader could make a private vault only for his family and friends and ask for lower fees.
Mary Satoshi Club: Oh, it’s very comfortable!
Mary Satoshi Club: And, btw?—?is your platform fully live now?
Valentino | FNDZ?—?will never DM first: We will be going fully live end of october, we just finished the demo and are opening up for beta testing to our ambassadors soon.
Mary Satoshi Club: Awesome! How user can become your ambassador?
Valentino | FNDZ?—?will never DM first: Join our channel, we have a sign up list ready!
Robin I FNDZ?—?Will never DM first: So, for now, the ambassador program is a special section of the project that we will open every now and then, the ambassador have exclusive features like meetings with the core team, first persons to test the beta platform, token rewards etc.
To become an ambassador you will need to join the community, from there we will announce it.
Robin I FNDZ?—?Will never DM first: https://t.me/fndz_community
Gold Rocket | Satoshi Club: Thanks for your great answers
Mary Satoshi Club: Thanks, guys! Ready to proceed?
Robin I FNDZ?—?Will never DM first: For sure!
Q2 from Telegram user @NataliyaKil
FNDZ IDO starts on TrustPad: September 14, 2021, 12:00 UTC. Whitelist Start: September 08, 2021, 15:00 UTC and Whitelist Closes: September 14, 2021, 09:00 UTC. I have fulfilled all the conditions for participation in the drawing of places on the White List. I wondered how the winners for the White List will be determined: will it be random or will you just take the first 100 people who filled out the form? And how will they be notified? What are the first things you will look at when determining the winners? I would also like to know about the terms and conditions of the IDO.
Robin I FNDZ?—?Will never DM first: Please visit the FAQ section of trustpad. https://trustpad.io/levels#faq They answer most questions about participating, about the whitelist and the IDO itself. If you still dont have you answers, join our community and ask there. We will always answer your questions pretty much immediately. https://t.me/fndz_community
Mary Satoshi Club: Is it your first and last IDO?
Mary Satoshi Club: Or may be you will have more later?
Valentino | FNDZ?—?will never DM first: This is our first IDO we contribute to. Personally ive invested in countless ones.
Robin I FNDZ?—?Will never DM first: Same here, that also drives us, we’ve seen so many and we have taken all the experience from that in our own IDO now.
Gold Rocket | Satoshi Club: yes you did an incredible job
Robin I FNDZ?—?Will never DM first: For the future, we can not say yet, we are full of ideas but like to do things properly and not move from one into the other.
Mary Satoshi Club: Did you have private investors? Any private sales you already had?
Robin I FNDZ?—?Will never DM first: So, that’s actually a nice question, and we can be pretty proud of the outcome of our private and seed round which was filled in 72H. This was mainly by our extensive network in both crypto as well as centralized finance.
Gold Rocket | Satoshi Club: Congratulations
Mary Satoshi Club: Wow! Congratulations!
Valentino | FNDZ?—?will never DM first: We raised 960k seed and 2.4mil private
Valentino | FNDZ?—?will never DM first: to be exact
Mary Satoshi Club: Will investors tokens have vesting period?
Valentino | FNDZ?—?will never DM first: all
Gold Rocket | Satoshi Club: Great results
Mary Satoshi Club: Unbelievable
Valentino | FNDZ?—?will never DM first: everyone is vested!
Valentino | FNDZ?—?will never DM first: we only have serious believers behind us!
Robin I FNDZ?—?Will never DM first: Yes, 24 months is also a vesting period that is considered “long” in the space from our experience.
Gold Rocket | Satoshi Club: Thanks for sharing
Mary Satoshi Club: one of the main keys to success
Gold Rocket | Satoshi Club: And thank you for your answers
Mary Satoshi Club: Really long! Thank you for your answers! Ready to go to the next question?
Robin I FNDZ?—?Will never DM first: No problem! And yes, for sure.
Q3 from Telegram user @Rosane1a88
Copy trading is a long-established business model present in mainstream platforms such as eToro, ZuluTrade, etc. The magic of copy trading, is that isers literally copy the positions of a successful trader, with very minimal knowledge required. What are the requirements to be a copy trader in FNDZ, regarding the amount of money that needs to be invested, how much of the earnings are shared with the trader, and what is the minimal amount to withdraw? how many traders are part of the copy trading platform?
Valentino | FNDZ?—?will never DM first: There is no requirement to become a trader, anyone can be one. The trick is being profitable and staying on the leaderboard, otherwise people wont follow you. We are planning to launch our product with at least 150+ traders.
If you are a trader, you will love FNDZ. Traders will get a commission for each user who wants to copy their trades as well as the performance and management fee. If a trader decides to stake FNDZ, he/she will get fee discounts and can earn rewards from every trader’s profit.
Also, we will organize competitions/tournaments to reward the best traders.
Have a more in depth read on our token utility, and you will understand the entire model.
https://medium.com/fndz/the-fndz-token-utility-model-5f315543303e
Mary Satoshi Club: Your traders leaderboard portfolio can can be composed of any cryptocurrencies?
Valentino | FNDZ?—?will never DM first: We have a curated list of asset that can be traded on each chain. This is done to protect the users. There are certain threshold limits like daily traded volume, market cap size etc. The assets we enable our users to trade will be hitting certain threshold levels that we consider “good” in order to make sure our users are protected.
Valentino | FNDZ?—?will never DM first: there is more than 100+ assets for BSC currently and 150+ on ETH
Valentino | FNDZ?—?will never DM first: that are fit for the list for our users
Valentino | FNDZ?—?will never DM first: of course its dynamic and as certain projects increase in size and volume, they will be added
Mary Satoshi Club: Oh, that’s super!
Mary Satoshi Club: Thank you for your answers! Ready for the next question?
Gold Rocket | Satoshi Club: Sounds good
Robin I FNDZ?—?Will never DM first: Let’s goo!
Q4 from Telegram user @JesusFre1tes
Established suppliers have several major drawbacks, such as non-transparent models with all kinds of hidden fees, unfair order books, limited asset availability and much more. How, through your Copy Trading model, will you solve these fundamental problems that many of today’s providers suffer from? Is this model adaptable to all types of investments? What are the main strategies that are part of FNDZ Copy Trading and generate the highest returns?
Robin I FNDZ?—?Will never DM first: We are a purely decentralized copy trading product. We don’t have a CEX (central exchange model) where we need to plug APIs into user accounts etc. On CEX’s there are order books that are populated by market makers. DEX’s have a fundamentally different order book namely the AMM’s. Furthermore, everything is transparent on the chain, so you will be seeing the exact fee breakdown. There are no hidden fees on FNDZ, everything is explained in a lot of detail in this article.
Valentino | FNDZ?—?will never DM first: To add on that, each trader has their own strategy and that is what gives them edge in the market. So you will be looking for the best ones out there.
Valentino | FNDZ?—?will never DM first: You wont be able to trade stock tokens or anything that reassembles a security of course on there. Will be purely for crypto tokens.
Gold Rocket | Satoshi Club: Thanks for clarifying
Mary Satoshi Club: Is there any way users can manipulate leaderboard?
Valentino | FNDZ?—?will never DM first: nope, as mentioned we got the in house rating system
Mary Satoshi Club: Awesome! Because as i know here people often try to hack the system
Mary Satoshi Club: Thank you for your answers! Ready to jump to the next question?
Valentino | FNDZ?—?will never DM first: yes
Q5 from Telegram user @alice_wonderland12
There is a referral program in FNDZ, one referral link can be created per trader. The promoter can share this referral link with new traders. How much is the commission that a promoter can earn by each new user that joins through its link? What other benefits can promoters receive?
Valentino | FNDZ?—?will never DM first: We will first implement a direct referral link to invite people to a vault. This will be anywhere from 0.5%-1% to start with (we will let the traders decide how much they are willing to give away). As we build out the product, we would like to make these fees on a rolling schedule, which means that each time the crystallization period is due, the promoter gets his small share. We will be explaining this in more detail as we come closer to the product rollout.
Mary Satoshi Club: Sure!
Mary Satoshi Club: We will follow your updates!
Gold Rocket | Satoshi Club: Don’t forget to share with Satoshi Clubbers
Mary Satoshi Club: Thank you for your answers! Ready for the 6th and last question from this part?
Robin I FNDZ?—?Will never DM first: Sure shoot it
Q6 from Telegram user @AugusS7
You say that FNDZ “is governed by multiple audited smart contracts that will prevent losses due to hacking”, but just by auditing these contracts, you get guarantees that there will be no scams? if so, then why have other projects suffered losses due to hacker attacks if their contracts are audited?
Robin I FNDZ?—?Will never DM first: Nobody in this world can claim that their smart contracts are 100% safe, as you have seen with various different projects in defi. The second they get more than 1B TVL (or big enough to make it worth the attackers time) hackers start targeting these protocols. The only thing we can do is run them by very reputable and trusted auditors like Zokyo and then do community bug bounty programs.
Valentino | FNDZ?—?will never DM first: and ensure highest level of security measures as we build
Mary Satoshi Club: Did you already apply for audit?
Valentino | FNDZ?—?will never DM first: yeah we already had our audit with Zokyo
Valentino | FNDZ?—?will never DM first: will be publishing that for the community as well soon
Gold Rocket | Satoshi Club: Safety first
Valentino | FNDZ?—?will never DM first:
snapshot from our audit
Valentino | FNDZ?—?will never DM first: will be publishing it in the coming days
Valentino | FNDZ?—?will never DM first: stay tuned for that
Part 2?—?live questions from the Telegram community
Q1 from Telegram @Jamesxmen
When I researched on FNDZ team, I could found details of 20 members & they are skilful members in Different fields. Before starting the FNDZ, Did you guys work together in multiple projects? Do you have a office to work together or Do you work remotely? The team work takes place behind a every successful project. Does your team also give their priority to the growth of FNDZ platform? What is your attitude about your team members & the dedication that they put in to FNDZ project? Do you increase the number of team members So that Some users those who are interested on FNDZ, Can join to Core team of FNDZ project?
Valentino | FNDZ?—?will never DM first:
Our aim is to become a fully fledgedDAO (decentralized autonomous organization) and that’s why the term “contributing” is perfect. We currently have 30+ people. some are not visible on the website for compliance reasons. We are working with veteran product teams led by ex Goldman and sachs for multiple years. We put really high importance on the product as this is what will be driving us. As we are an open ecosystem, anyone can join and work with us. We will be expanding the team actively as of 2022. For now we are finishing our sprint to the end of the year.
Q2 from Telegram @Huzur12123
How strong
is your team? Many projects starts with good impression and later abandoned the project. What makes your project different than others
Robin I FNDZ?—?Will never DM first:
If you look at our track record, you will see that the lead contributors have been in the space for a long time. We are definitely not looking to abandon the project as we have a very promising future with this. We want to bring more retail into the space and this is the way we think will work the best. The core contributors are known for the longevity they had in their careers so far, having a healthy balance between senior heavyweights with experience in firms like Goldman Sachs as well as high potential juniors that have been contributing to big names in the crypto space like Binance.
Q3 from Telegram @abkarim2003
Nowadays many projects have cheated people. In what ways can your project instill confidence in people’s minds? What kind of work can your project do to build trust among the people?
Valentino | FNDZ?—?will never DM first:
We have people involved that built regulated crypto exchanges that were approved by the central bank. Which means you go and get checked if you are fit to run and a credible person. We are not here to rug anyone, thats is literally the least of our intentions. In order to build trust we obviously take security and communication very seriously and we are completely transparent about everything as we go.
Q4 from Telegram @mucana
On the FNDZ website, I did not see any incentive, without receiving tokens. What kind of incentive practices do you have in order to attract experienced traders and following users, or rewards, conveniences, etc. based on performance?
Valentino | FNDZ?—?will never DM first:
Please have a look at our token utility model. It explains everything in detail, where fees are applied and how traders can benefit from them https://medium.com/fndz/the-fndz-token-utility-model-5f315543303e
Q5 from Telegram @Indomiekuy
Hello, your project looks really good but could u explain what is the meaning from “FNDZ” As the name project ? And why choosing name FNDZ as a project name as its hard to call or remember?
Valentino | FNDZ?—?will never DM first:
FNDZ is said as Fundz, which as the word explains entails your funds. As you put funds to work on the platform, we thought it was very fitting.
Q6 from Telegram @Korryl
i really excited with FNDZ project but can you tell us how do new member like me participate in your token sale? how about presale & IDO ? where will you list the token ?
Robin I FNDZ?—?Will never DM first:
As mentioned in the AMA, our seed and private round was sold out within 72H, there is currently a whitelist going on Trustpad. The easiest route to get yourself in the project, would be to join our community, after which we can assist you with the whitelist as well as the purchase through the dexes. You can simply join the community by clicking the following link: https://bit.ly/3DOcGlH
Q7 from Telegram @Shakil342
As I know this project is relatively new, you’re just getting started. Can you tell us about the progress you have made so far? What has been the most important update of the moment and what are you currently focused on?
Robin I FNDZ?—?Will never DM first:
Currently we have finished the first set of smart contracts, we have the demo in review process, the beta is being released soon, then we go into beta testing. After that the product will be released to the world. Shortly after that we build out the novel staking mechanism we came up with. To keep track of the roadmap the easiest route is to take a look at our website www.fndz.io, next to that, we are currently fully updating this roadmap further into the future.
Q8 from Telegram @Jonahapagu
Some of the major drawbacks of Social trading platforms as mentioned on your website are; non-transparent models with all kinds of hidden fees, unfair order books, limited availability of assets and much more. Plus, the majority of platforms are based on derivatives, meaning users don’t really own the assets, which brings additional unnecessary investment risks… So how does FNDZ solve these major issues pointed out in its platform, how do you ensure that there are no hidden fees or unfair order books on your platform, and how do you eliminate investment risks on your platform
Valentino | FNDZ?—?will never DM first:
The smart contracts govern the fees that each of the traders defines as they create a vault. The fees cannot be changed subsequently. Plus all the trading and deposits + withdraws happen on chain, so you can always be certain there is no hidden order books which you find in CEX models. The trades are done via AMM’s so also know there is no hidden fees.
Q9 from Telegram @Huzur12123
Have you being audited ? Have not heared you talk about that security of funds is what every investor craves for and plans to escape incase of insecurity if funds,scams and rug pulls ? How strongly built are your security put in place?
Robin I FNDZ?—?Will never DM first:
Yes, as mentioned we have been audited by Zokyo with an above industry average score. Our security is on top of our prio list, with ongoing audits and penetration tests. Furthermore, the platform functions through a form of “self custody” where the smart contract holds the funds which then could be redeemed at any time.
Q10 from Telegram @Pratze
so FNDX have stake feature and will be able to join FNDX IDO, could you explain the stake system ? how its work ? and what are the requirement for stake ?
Valentino | FNDZ?—?will never DM first:
The FNDZ staking feature will be build out right after our product launch. So join our community and stay tuned. We will be dropping more medium articles on the staking functionality as we build it out.
Part 3?—?Quiz Results
In the final part we tested your knowledge in terms of FNDZ. They’ve prepared 4 questions for this part. The total reward pool for quiz was 300$.
For more information and future AMAs, join our Social Media channels:
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