TomoChain and DeFiPie announced an integration partnership early this month which allows TomoChain (TOMO) to be one of the initial set of blockchain platforms supported for staking on DeFiPie’s upcoming platform. Soon after, DeFiPie ($PIE) got listed on TomoDEX with PIE/USDT trading pair on 21 September.
Below is a summary of the AMA.
Serial entrepreneur, investor, and advisor to technology startups. Award winning web developer with an experience of eight years. Blockchain developer with five years of experience. Russian DEV Hackathon Winner. Involved and invested in crypto since end of 2013. Deep understanding of the underlying technology and PoS.
Host: Could you let us know a bit about yourself? Like how you got into crypto and what other projects have you worked for?
Aleksei: Basically I started my career as a software developer. But few years after I decide that I’m more business oriented, than technical. My journey in crypto was started almost 5 years ago. Studied technology, worked as a trader and after jumped into blockchain tech as a developer. I worked for Wings as well (now it’s DFinance), another successful blockchain venture.
Host: Can you tell us what your role is at DeFiPie and what the project is about in a few sentences?
Aleksei: I’m CEO and co-founder of DeFiPie. Mostly as a business development guy, but working with technology too. With DeFiPie we’re destroying borders in crypto lending market and making “DeFi Uber” for crypto adoption.
Host: What’s the story behind the name DeFiPie and what’s the utility of PIE token?
Aleksei: We decided to call our project DeFiPIE, because it is like a multi-layer cake that contains a lot of filling inside - LaaS, LPaaS, SaaS.
PIE is a governance token. The token gives you a voice in project management. As well PIE is needed to setup a liquidity pool.
Q: I looked DefiPie Roadmap that on Q2 2021 you Will launch “DefiPie Bank”. I want to ask, does DefiPie Will launch the own card??? For example as I know like SXP card, binance card ,etc would you have plan it??? (Twitter user @Nilwaan)
Aleksei: First of all, please, understand that it’s just a plan and there are a lot of things to check and prepare. We’ll start expanding our vision in this field in near future. It depends on project success, loyalty of community, regulation and so on. if everything will be ok - yes, we’ll launch even bank cards. But this way contains a lot of issues. For example - KYC. If users will agree for that and other dumb things - we’ll build most powerfull All-In-One DeFi company/application.
Q: What are Custom Pools? Can you give us an example of what they could be? How to take advantage of this feature?
Aleksei: Custom pool - pool which can be created manually by any user. Just take any NONAME token and create a pool - that’s all. Advantage is pretty simple - each user who will create pool in our platform will receive reward for this operation. But, please, be careful, any scam token/coin listed in our application will be deleted and rewards might be frozen.
Q: What is your strategy for the market? (Twitter user @rey23447545)
Aleksei: Step-by-step onboarding. There is no reason to run a global marketing campaign in one time. Need to do it with passion and work closer with each county/community/region. You can check our roadmap, where we listed major markets/countries and our team will work more closely with each. We’re not trying to sold our tokens, we’re inviting new members to watch on our progress and only after they can make proper decision
Q: What are the major milestones $PIE achieved so far & what’s are your future plans after AMA with Tomo Chain? (Twitter user @MamaKeii)
Aleksei: We did token sale, built strong community, almost did lending application and built powerful team. It’s awesome! Main goal for nearest future - release mainnet in October 2020. Other things - marketing, exchanges and so on - is important too, but we’ll do it in parallel
Q: Around 45% from total supply of defipie is rewarded for staker, that’s mean Your project is more focused on staking,then what is the advantage of staking in your project, or is it same as other staking projects even though they are not a defi project? (Twitter user @moonrektshop)
Aleksei: I’ll provide an answer only on part of this question, because the main thing is wrong. No, it’s the total supply for ALL rewards: staking, yield farming, pools managing and so on. We’re not focused on staking. First of all - we’re lending product/company.
Q: Most of the activities and platforms are in English. How will you reach non-English speaking local communities? Do you have any plan to conduct Ambassador Program? (Telegram user @julioceazar)
Aleksei: English is the most popular language and I guess if you’re in crypto - you MUST to know English even on basic level. But of course we’ll also attract non-English users. Yes, after mainnet launch we’ll introduce ambassador program and if you have good/proper experience, resources - you’re welcome!
Q: What are the risks associated with decentralized financial products (DeFi) related to risks? What does Defi Pie do to limit those risks? (Telegram user @Hazura27)
Aleksei: IMO the biggest risk for now - regulation. And in this case we can’t give any promises.
For example, if country regulator will ask for KYC for each user - it’s not DeFi anymore. Best way - to close project. But in our case we’ll run community voting and those, who will agree to add KYC and will ready to use platform in future - awesome, we like your support. But it’s just an example and of course we can’t control laws
Q: Many DeFi projects have rug pulled and exit scam recently. Why should we trust DeFiPie not to do likewise? (Telegram user @AdeleLedner)
Aleksei: What does exit scam mean for you?
Someone just cash out tokens, money and do not working anymore.
But as I see most people think if token price goes down - it’s scam too for community. It’s wrong. Crypto not a gambling. If you’re looking for mass adoption - why you’re using crypto just for profits? We’re working, building, trying to make updates each day and I’m personally talking with community. There is no reason and even way to make exit scam.
Q: We are all aware on what happened to $SUSHI, wherein the team dumps their tokens to the investors. How can we make sure that this will not happen to PIE? (Telegram user @julioceazar)
Aleksei: Check out our smart contracts. Team tokens are programatically locked. We can’t dump our tokens in the market.
Q: Revenue and adoption are the main points of all projects, can you tell us your Business model and how you generate revenue? (Telegram user @Thomas_rodriquez)
Aleksei: We have business model and possible revenue streams. Most of them depends on using collateral in DeFiPie platform.
But unfortunatelly, can’t say more info for now.
DeFi has been rapidly growing but remains extremely fragmented. DeFiPie is an application that will unify the disconnected parts of DeFi while giving users control over their risk and reward thresholds. DeFiPie users will be able to access liquidity mining, lending, staking, and yield farming within a single interface. Get ready for unprecedented access into the DeFi market.