we hosted an amazing AMA with ChainFinance on the 30th of October
And here we will put some of the best questions:
Q1. Can you introduce yourself to our community?
Certainly! We are a team of blockchain and DEFI enthusiasts who came together from different parts of the globe in an effort to create a safe space for DEFI investments, but our scope in the long term is much larger than just DEFI.
Q2. Can you briefly tell us what is ChainFinance ?
CHAIN FINANCE #CHF is the central token in our ecosystem.
We have created a social app called TELECHAIN with a KYC verification system and are in the final testing stages, as well as developing a second stand alone CHAIN FINANCE app.
The CHAIN FINANCE app has a rewards mining function and referral system to encourage interaction with our token, and generate organic growth.
Of course, our overall goal is to promote and populate our KYC social app TELECHAIN, as it’s success ensures the long term growth of #CHF.
Q3. Let’s now talk about the milestones you have achieved so far and about your upcoming plans?
Over the last two months we have assembled a diverse team, and built the TELECHAIN app completely out of pocket.
I would say that getting our app to the beta stage and near full completion is our largest milestone to date. But much more is planned.
Q4. Every project has a story behind their name, Can you tell us more about the story behind this? Who are the team behind this project? can tell us their background?
Well, we launched a previous project called ADEL, but sadly it was botted and damaged the project beyond reasonable repair.
This situation combined with some projects that we had invested in rugging us, made us decide that our best course of action was to create the safe investing space we wished we ourselves could have invested in.
It was this CHAIN of events that brought us together….
We have been working on our app and ecosystem development ever since, looking to create solutions for some of the risks of DEFI investing.
We have 4 core team members, as well as a moderation team.
Our Dev Axel – Based in South Africa, an aspiring dev, currently enrolled in an overseas blockchain development and cyber security university course.
Myself Sk8Monkey – I am Canadian, and have been in crypto since 2017, like many. I have been involved in multiple projects, as a writer and moderator, as well as running social media pages. I have been active in social media and tech since the days of Limewire and WinMX.
TTT – Based in Nigeria and has been working in crypto as a PR agent, TTT is one of the concept designers of our project.
Richie JJ – Also based in Nigeria, Richie has a long history as a moderator, he modded STEAMX V1 which earned him entry into the MOD SQUAD – a respected team in the DEFI space. He was also in ADEL and is one of the concept creators of TELECHAIN and CHAIN FINANCE.
We have a team of moderators from different parts of the world and we will be adding to that team, so as to open channels and interact with people from all nationalities and languages.
Our project is intended to be global, and we are building our team with this in mind.
Q5. NFT is one of the hottest and most sought-after topics in the blockchain space right now. Can you share your opinion on NFT with us? Do you think NFT will disrupt the current financial system? What is ChainFinance’s approach to the NFT sector?
NFTs are definitely on our minds, we are discussing how we will best integrate them into our #CHF CHAIN FINANCE token as well as planning a NFT marketplace update for the TELECHAIN app in the future.
We see the potential and utility of NFTs, as well as the opportunity for passive incomes that can reward CHAIN holders through buyback and burns. There is more to come on this topic, but we aren’t ready at this time to fully divulge how these ideas will take shape.
And here we will put best questions from our members and ChainFinance fans:
Q1) CHF is the first decentralized token to adopt Telechain as its use case. So what is Telechain? What is the function of Telechain in CHAIN FINANCE? How can users interact with Telechain and can users monetize it through Telechain?
Great question. The TELECHAIN app will generate passive incomes through various means.
One of the goals of our app is to have as many safe crypto services under one roof as possible.
The concept is that some of these services will have small monetisation’s, for example, say an aspiring dev pays to use our launchpad, a significant percentage of those fees will be used to buy and burn #CHF, benefitting holders with an ever lowering supply.
The launchpad is only one small example of ways we can generate passive incomes from TELECHAIN to benefit #CHF holders.
User monetization services will roll out with our video content services.
Q2) Token burn” is advantageous to any enterprise in terms of controlling the number of tokens in circulation and providing better incentives to investors. Is there a plan for token burn in your fantastic project???
We will be burning 5% of the supply shortly after launch however what we are really excited about is #CHF buyback and burns from the passive incomes generated on TELECHAIN.
We feel that constant buy pressure from TELECHAIN generated passive income buyback and burns, combined with other plans like the CHAIN FINANCE rewards miner, as well as other utilities we will announce later are a recipe for the long term growth and success of CHAIN FINANCE and it’s holders.
Q3) Language is a barrier to many user who can speak universal well, . So, will you help local people to build your platform with several language option? or maybe build a local community to support them?
We have team members from the Dominican Republic, Canada, Nigeria, South Africa and Japan, and we are looking to expand that reach as we grow our mod team.
The TELECHAIN app will go live with three languages already in place, and updating to add as many languages as possible is a huge priority for us.
We aim to be global. And TELECHAIN isn’t only about crypto. It is a fully interactive social media platform.
Q4)Where can I buy your tokens now. What is your current contract, and how can I buy it and what are the benefits???
Our contract is not live yet, but it will be released soon.
The private presale is live however, and there will be multiple ways to get a spot. Join our Telegram to find out more and participate!
We will launch our TELECHAIN app prior to the token launch, and we are in the end testing phases of the app.
We expect to launch fully near the end of November and will have concrete dates for everything once the app is released.
Q5) Do you have Whitepaper if yes, please share it with as secondly do you have plans for pre-sale? Now where can we Join it?
Yes we have a whitepaper! You can find the link on our website here!
Also follow our Medium, we will give regular progress updates there.
Our private sale is currently live, there will be multiple ways to get a spot, and a public presale will follow. Feel free to join our Telegram channel for more info below!
Q6) Can you give an overview of your Tokenomics, and the UTILITY of Token?
Plz read the White Paper 📜 it’s on the media Doc here and on chainfinance.cc
Q7) Can you list 1-3 killer features of this project that makes it ahead of its competitors? What is the competitive advantage your project has that you feel most confident about?
Our biggest killer feature is a KYC verification system in our TELECHAIN app. This creates an environment that is VERY uncomfortable for scammers. I would say that the inclusion of multiple crypto services, and ease of use and access are also huge selling points.
The advantage that I am most excited for, is that there is no product like ours on the market, and the closest thing to it is TELEGRAM which is rife with scams. Remember, there are 550 million TG users, we need only capture a small piece of that market to have huge success.
Q8) What plans do you have for new user and non crypto investor to attract towards your platform? what challenges do you see?
Our app, though launching with crypto as a main user case, is a full fledged social media app.
We intend to run targeted marketing strategies as a social media alternative to some of the bigger players.
Populating our app is going to be one of our largest hurdles. One way we are looking to get it active, is through partnerships with doxxed projects, and using these connections to grow our user base and cross promote legitimate projects.
Q9) IS Your Project a local project or a global project? Can anyone use your services from anywhere in the world?
Yes our project is global, we recognise that the crypto market knows no borders or boundaries. The only people who might have issue accessing our services are those in the few countries that ban crypto. CHAIN FINANCE and the TELECHAIN are for everyone.
Q10) IS This Your project only for elite investors, how about others with small funds, is it open to everyone?
Our project is for the masses. We believe that even small holders can see great gains over time, as we initiate our app, and begin generating passive incomes that will return to CHAIN #CHF holders through buyback and burns.
Users will also be able to benefit in time as we bring user monetization systems into place.
And this was the end of our AMA with ChainFinance.
If you have any other questions you can ask here:
ℹ️ℹ️ Useful links ℹ️ℹ️
Website :- http://chainfinance.cc/
Twitter :- https://mobile.twitter.com/CHAINFINANCE22
Medium :- https://medium.com/@chainfinance296
Telegram official community : https://t.me/chainfinance