we hosted an amazing AMA with Dynamis Finance on the 26th of August
And here we will put some of the best questions:
Q1. Can you please introduce yourself as well as Dynamis Finance ?
I go by Marvelous, I am originally an Automation Engineer who started in Crypto in 2017. Like most of you, I have always been super fascinated with the decentralization model which cryptocurrency is built on. I’m even more excited about the Defi space and the endless possibilities it provides.
The name Dynamis was chosen because it embodies three key principles – power, potential and ability. These principles underscore our core vision for the platform – a place that enables our users to achieve financial freedom by exploring the full potential of decentralized finance. This vision will be clear to our community as we allow them to make suggestions of features and functionality that they would like to have incorporated into our platform.
Q2. What are the advantages of Your project ?
The Dynamis Project is a Defi Platform and not just based on a token. There is true utility which is provided to the users. Some of our key features include the following:
• Yield Farming (Short Term and Long Term)
• Auto Compounding
• Automatic Burning
• Anti-whale Deterrent
• Referral Program
• Fixed Supply of DYNA
• A Flexible Roadmap
• Community focused
• Long-term project plans not just Pump and Dump
We have designed our entire platform with experts that ensure it can be agile and scalable for future innovations.
Q3 please tell us about the goal you want to achieve in this year
This year we wanted to do three (3) key things before moving on to next year:
• Have a successful organically built community who can leverage our platform
• Launch our platform with key features essential to providing utility from the start
> Dymond Perks
• Launch our Cross-Chain Token Bridge
• Develop a community based backlog of features to be implemented in Q1 of next year
Q4. Every project has a story behind their name, Can you tell us more about the story
Yes indeed, we selected the name Dynamis very intentionally. A bit of a joke is when we first applied for the URL I almost bought Dynamics (hahha).
We selected Dynamis because we wanted to separate ourselves from all of the everyday projects and meme tokens which are here today and gone tomorrow.
Dynamis was chosen because it shared the sentiment of our vision, potential, power and ability, not just for us but for ALL our investors!
And here we will put best questions from our members and Dynamis Finance fans:
Q1) Do you have any plans to add Nft’s to your ecosystem as this is the hottest topic in the crypto space?
Yes, there is something very special about NFT’s. The entire concept around it is wonderful to us. We would like to investigate adding some features either based on partnerships our hiring resources where NFTs can be developed, bought, sold or traded on our platform.
I believe that NFT’s provide a very unicorn feature to all of us in Crypto. This is something that is on our internal long-term roadmap.
Q2) Do you have AUDIT certificates, or are you working to AUDIT your project, to make it more secure and reliable???
Yes we have been through two rounds of Audits with SolidProof out of Germany. Our entire team has been KYC’d with them (Not just the owner like some other platforms).
You can review our Audit results here: https://github.com/solidproof/smart-contract-audits/blob/main/SmartContract_Audit_Solidproof_DYNAToken.pdf
Q3) What does the Dynamis name stand for? There are interesting stories behind every successful project, and of course you have to work hard ever day. Can you share one of these interesting stories with us?
I think I answered this one already?
Q4) I can participate in the token governance as a community member to what extent and Do you really consider our suggestions?
This is huge to us, we believe that a strong community will allow us to grow organically, maintain loyal users and drive our platform to success. Our project is not based on our vision alone but a shared vision of the community which allows us all to benefit.
We get to do what we love and the community gets to benefit from it! Please reach out to us directly, we would love to hear your ideas.
Q5) I want to invest in your project. But I have a little doubt. Can you please assure us that like other scam projects, there is no possibility of cheating?
We have separated our project from the rest by subjecting to two rounds of independent third party audit reviews, submitted our code to RugDoc for review and delayed our presale to ensure that our project meets a certain standard.
Most scam projects don’t do KYC of entire team, AMA, Litepaper and custom code! They are mostly forks of a fork of a fork (really lazy).
Please if you have some time, review our MasterChef here:https://polygonscan.com/address/0x10E69E681D01664e8B98d2a843Bf3Ee92DCbC50D#code
There is over 2000 hours of effort between the project documentation and Development shared between the team.
Q6) What is your business model and revenue model? Please shre more detilas on how are you going to generate revenue?
Our entire platform will be built on utility, although there is a token we are also dependent on fees outside of this token to ensure our platform is sustainable and ultimately profitable.
For example our we will not charge users to deposit into our vault but will change a fee for every LP we generate for that user. This ensures that the user is paid and we get a small commission of 2% for auto-compounding for the user.
A model like this will ensure that our revenue stream continues to grow linearly as the userbase and TVL grows.
Q7) I saw on the #DynamisFinance TG Group Update, there is an unknown delay in the date of the $KOGE presale due to an error in the V3 Unicrypt system. How much will this delay impact #DynamisFinance’s strategic plans? How to face it? Are you planning to change the presale platform?
Love this Question! Minor correction $KOGE is not our Token. Our token is $DYNA. There is an ongoing issue with the Unicrypt platform after they released their V3 update.
The issue is they can’t support Polygon based ILO’s (Initial Liquidity Offerings). This is how we wanted to launch the project. We have been in contact with the Cofounder of Unicrypt and their support team.
We will give them a bit of time to resolve the issue or provide us a timeline to a resolution.
If we don’t hear something in 48 hours we will begin to explore other platforms for launch or launch on our own Platform.
Please stay tuned to our Group as this will be the main way for updating our community on the presale start date!
Q8) There is a large audience that does not understand the English language at all but is interested in crypto. Have you created or planned to create local communities to include this audience in your project?
Yes, we are currently focused on the English community but once we identify trustworthy members who we can authorize to run other communities we will implement this.
Our plan is to be a Global Platform. As ambitious as that sounds we have learned that trust is translated the same in every language!
Q9) Many new projects develop well at first, but then fail to achieve good results. How will you manage and develop your project to gain a position in the market and become a good project in the blockchain industry?
Our entire model for the Dynamis Platform is based on Utility. Most projects don’t understand the concept of token velocity and why it matters. They will either create a low number of tokens to create demand and buzz in the beginning but fall off in days because their emissions didn’t take the platform utility into consideration.
Other projects will set Max Supplies with taxes and expect that sending to Dead address will fix the problem of no Utility. We have done tons of features which provide instant utility for token holders and platform users alike. You will never be forced to buy or token but it will always be incentivized.
We will actually continue marketing, continue growing the userbase and adding more functionality, we will continue to innovate long after this AMA is over. That is the only way to survive in Defi….Like Sharks need to hunt to live, we need to innovate to stay relevant and we understand this.
Q10 ) 𝕀𝔽 𝕋ℍ𝔼 𝔹𝔼𝔸ℝ 𝕄𝔸ℝ𝕂𝔼𝕋 ℂ𝕆𝕄𝔼𝕊 𝕨𝕚𝕝𝕝 𝕪𝕠𝕦𝕣 𝕥𝕠𝕜𝕖𝕟 ℙℝ𝕆𝔹𝔸𝔹𝕃𝕐 𝔻𝕌𝕄ℙ? 𝔻𝕠 𝕪𝕠𝕦 𝕙𝕒𝕧𝕖 𝕒𝕟𝕪 𝕡𝕝𝕒𝕟 𝕥𝕠 𝕡𝕣𝕖𝕡𝕒𝕣𝕖𝕕 𝕗𝕠𝕣 𝕥𝕙𝕚𝕤 𝕓𝕖𝕒𝕣 𝕞𝕒𝕣𝕜𝕖𝕥? ℍ𝕠𝕨 𝕨𝕚𝕝𝕝 𝕪𝕠𝕦 𝕙𝕒𝕟𝕕𝕝𝕖 𝕥𝕙𝕖 𝕡𝕒𝕟𝕚𝕔 𝕤𝕖𝕝𝕝 ?
This is a good question because this is from a long-term-minded investor..
The cycle of bear and bull is not new to finance and there are definitely more extreme swings in cryptocurrency. We have thought about this, we have developed a platform that is as independent from the current market as you can get.
If your platform is based solely on the token it will create a slippery slope, in a bear market users will sell, your platform TVL will be reduced, new users wouldn’t be interested in investing and you wouldn’t have enough revenue being generated to sustain the project. If there is runaway inflation your token price will become irrecoverable. The slope gets steeper and steeper.
With our platform, we have created a place where users can invest and bring their own tokens (stablecoins included) and earn more. We don’t force users to use our token we encourage it. So even in a bear market there will be good reason for investors to look at our platform as a ‘Store of Value’. This to us is the only way to ensure we won’t go down the slippery slope detailed above.
And this was the end of our AMA with Dynamis Finance.
If you have any other questions you can ask here:
ℹ️ℹ️ Useful links ℹ️ℹ️
Website :- https://dynamis.finance/
Medium :- https://medium.com/@DynamisFinance
Twitter :- https://twitter.com/dynamis_finance
Github :- https://github.com/Dynamis-Finance