we hosted an amazing AMA with ForintFinance on the 23th of October
And here we will put some of the best questions:
Q1. Can you introduce yourselves to our community?
Of course, I will start. I am Davide, the latest addition to the Forint Finance Team. Thanks again for today and we cannot wait to tell you more about Forint Finance
Hi everyone. I’m Giuliano Neroni, Chief Innovation Officer of Forint Finance LTD, back-end developer specialized in blockchain technology
Hi. I’m Gabriele, chief operating officer, and currently busy with my two daughters arguing 😅
Hello everyone, i’m Jacopo Neroni , CTO of Forint Finance!
Hello everyone, I’m Adriano Neroni and I am the Project Manager of Forint Finance. Thank you for your participation in this AMA.
I will give you a quick introduction to Forint Finance before we move on! 💪
We are The Team behind Forint Finance, a company registered in the UK in May 2021. The project started towards the end of 2020 when our CIO, Giuliano Neroni, having worked in the blockchain world for many years, decided to create a token himself.
Although he had the technical ability to create a token, he needed a viable project, a use case, as he did not want to create a meme token with a short lifespan. After all, this is part of the world where he had worked for most of his life and he had a reputation to maintain.
Eventually, early in 2021, his brother, now our CTO, Jacopo Neroni, entered the project. Bouncing ideas around, the idea of a platform began to take shape, from a utility token, to a whole ecosystem that would be powered by it. This was a pivotal moment that started the journey we are on: Forint Finance was born.
They soon realised that they needed some help to deliver their vision, and the Team started to expand recruiting more and more people, to the current set up that you can see on our website under corporate on forintfinance.com/corporate.php.
The team is still expanding though, as the project keeps growing in its ambitions!
I am the latest addition to the team, and this just reminded me that I’m not even featured on the website yet
Q2. Can you briefly tell us what is ForintFinance ?
Forint Finance aims to be a complete ecosystem, or platform as we like to call it, focused on decentralised exchanges.
We all know that cryptocurrencies and blockchain technologies are the future, but we also know that they are not easy to navigate and use, especially when you first approach this field. Forint Finance lowers these barriers of entry, so that anyone can jump into it. Dexy, our second product (the first being our token), will allow users to buy selected cryptocurrencies with fiat in a very easy and straightforward way.
Another problem we have in the crypto world is the fiscal part: how much taxes do we need to pay? Where? When? Users will benefit from a simplified and integrated technology that will take care of the taxation between government entities
The reason why we say that OUR portal is the safest and most complete, is because it will take care of the whole process, from start (wallet creation) to the end (tax obligations).
Another significant part will be the Forint Marketplace, where we will be able to buy and sell goods and services at highly competitive prices, with the opportunity to take advantage of our fiscal assistance service; this will also host an integrated NFTs marketplace where users, entities and artists will sell Non-Fungible-Tokens, and have the opportunity to raise money for charity if they wish so.
Last but not least there is our ICO launch platform, a product currently in development and due to be completed in this quarter, where people will be able to start their trip to the moon with their own projects :-), hassle free, with a user friendly dashboard, all powered by Dexy and our Token.
Actually, before I finish… I would like to add that on Monday, during our AMA on Twitch and on telegram, we will unveil a new product (and this is something even our community doesnt know about yet, so a spoiler just for you guys 😁)
Q3. Let’s now talk about the milestones you have achieved so far and about your upcoming plans?
Our first milestone was the presale of the token itself, which also coincided with a very important personal event in my life. I was at the hospital, waiting for my wife to deliver our first born, when I had to initiate the presale on my laptop 😀 (while saying “push baby push!”. To this day nobody knows if I was talking to my wife or the token, and nobody will ever find out the truth!). 😅
Our second milestone was the creation of the Company itself, Forint Finance ⚜️. This is when we officially moved from being an ambitious project driven by a group of professionals, to a structured organisation that would support a whole ecosystem; it might not seem much, but this was the moment when we crystallised our aspirations and our goals; it was not just about creating a token, but it was about building something that would last the test of time, where value would be continuously added by our innovations, improvements, and ingenuity.
Our very short term plans include two upcoming products in Q4: Dexy and our ICO launcher (still to be named, and any suggestion is welcome) 😀
Dexy is an intermediary interface to a decentralised exchange (currently only pancakeswap, but others will be added in due course); it will allow users to easily buy selected cryptocurrencies using fiat via our platform, safely and with low transaction fees.
The ICO launcher will be ready mid November and it will allow third parties to launch their projects via our platform, using Dexy for those who want to buy using FIAT, all this with a simple and intuitive dashboard. We currently have two projects already lined up for when it will be live.
Future plans include our dedicated marketplace for NFTs, Goods and services, developed not just for private individuals, but also for small/medium businesses and their supply chain.
The circle will then be closed (for now at least) by the Forint Fiscal assistant, this will help the users, again both private and business, with their tax obligations.
Plus our little surprise on Monday 😃
I promise you won’t have to wait until my second child before our final step! 😅
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?
Forint comes from the Italian word “Fiorino,” a gold coin from Florence. The Fiorino had a flower (fleur de lis), or “fiore” in Italian, stamped on it. Giuliano, Jacopo and myself are from a town called Ferentino, just outside Rome, and the symbol of our town is also the fleur de lis. That’s where our name comes from.
As you know Italians are passionate and emotional people, so I’ll try not to be too serious 😃
The team is composed of a mix of personalities and different professional experiences. Let me give you a quick overview:
Giuliano (our CIO) is our blockchain expert and fitness fanatic; Jacopo N (our CTO) is a software developer and all around renaissance man (he can do everything); Gabriele (our COO) is a pain in the backside but he gets things done 😆;
Raffaele (our CLO) is a legal expert in corporate law and commercial contracts (can’t joke about him as he doesn’t have a sense of humor); then there is me (HI!) Adriano (Project manager) I’m a dynamic person, very taxing in character and above all attentive to every detail… (nothing escapes me!);
Umberto (Account manager) is the youngest member of the team, capable of transmitting the right enthusiasm and charge to all the people around him; Jacopo DS (HR Director) is the wise one of the group, his thoughtfulness makes him the right person to manage human resources within the company.
Finally Davide is the latest addition to the team, ex-footballer, the guy that makes the coffee and of course the good looking one (according to him anyway 😝).
Because of this diversity, we are very agile, and we can adapt quickly and grow even faster.
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 ForintFinance’s approach to the NFT sector?
I’ll talk about this. Let me start by giving an overview of what an NFT is for those who might not be entirely familiar.
As you know NFT stands for “non-fungible token.” At a basic level, an NFT is a digital asset that links ownership to unique physical or digital items, such as works of art, real estate, music, or videos.
NFTs can be considered modern-day collectibles.
They are bought and sold online, and represent a digital proof of ownership of any given item. NFTs are securely recorded on a blockchain — the same technology behind cryptocurrencies — which ensures the asset is one-of-a-kind. The technology can also make it difficult to alter or counterfeit NFTs.
Being a set of digital information travelling through the blockchain, with which any digital object is made unique, it can be used to certify digital objects and works of art, making them not only saleable, but more importantly identifiable. We can call this a certificate of ownership and authenticity of a given object.
A clarification that I would like to make, because many people are still confused, is that the NFT is not the work of art itself, but only the certification of it!
I am not sure if the usage of NFT will disrupt the current financial system, but what I know is that the real function that can really have a huge impact on the market is the use of NFT in the certification of goods and processes, where the guarantee of authenticity and immutability of the data through the blockchain allows to solve problems such as the falsification of certifications. think of the CE certification commonly falsified by Chinese products, or the opportunity to protect the market of luxury goods.
From its point of view, Forint Finance wants to carve out a slice of this expanding market by offering a tool in which companies can automatically generate their own NFT certifications to be affixed to their production processes and goods, in order to be competitive in a market that is evolving very quickly.
And here we will put best questions from our members and ForintFinance fans:
Q1) What makes you feel confident about the existence and sustainable success of the project in the near future? While building the project, did you take into account community feedback and requests?
First of all, yes. We do take the community feedback very seriously. We are lucky enough to have some very engaged holders, especially in our Italian community, and they are our “barometer” to check how certain actions are read from the outside.
When you are involved in a project working day and night to make it successful, it’s easy to lose sight of what is right in front of you, hence their feedback is fundamental and keeps us grounded.
To answer the first part of the question, we are very confident as we are a professional team with many years experience in our own fields. We have put our names and faces in the project, hence our professional and personal reputation, therefore failure is not an option!
Q2) Pump and dump schemes are becoming a major problem in the crypto space especially, Investors hard earned money going down the drain. Could you please tell how you will prevent whales manipulation and make price appreciate and reach for the moon?
We might be one of the only groups on telegram that does not tolerate “hype for hype’s sake”.
We keep our community informed of all our progress and our difficulties, and we always ask them to avoid useless hype; the project, and the price, will go up with, and because of, the development. If you see our graph, it did go up for no real reason after a couple of weeks, and, despite us trying to “calm it down”, it did dump after a few days. The good news was that it soon stabilised to the level where it is now, at around x5 x6 of the presale price, which indicates a strong resistance and confidence from our investors. 💪🏻
Other than our direct input in the community, we also have an anti whale system, whereby only 100m Forint can be sold in one transaction, as a further deterrent. 🐋
Q3) After checking the website, Forint vision & Mission is good. but it needs a large user traffic to be sustainable over time. What is your marketing strategy to increase the validity of your project brand? Are you planning a strategic partnership to level up your project?
As mentioned before, we have LunaPR taking care of our marketing. If you are not familiar with them, they are a very successful marketing agency based in Dubai and led by Nikita Sachdev. I’ll leave their website here LunaPR.io.
They have created a strategy for us to ensure gradual but exponential exposure to the coin and the project, and we have full confidence that they will be able to deliver on our expectations.
They are very responsive and they have understood what we are about, a long term project that wants to end up at the table of the major crypto currencies.
In terms of partnership, we have few that we are working on already, but the bulk of it will come on board by the end of Q4 when the ICO launcher will be operational.
Q4) Without sufficient fund any project can not carry out their development whatever it is good. To me the main priority is to have sufficient funds to run a project. Is your team financially able to carry out this project? How this project generate revenue for both the team & users?
Our tokenomics allow for a 2.9% of the volume to be in the developers wallet, however, to date, the team has been working for absolutely nothing as we have reinvested 100% in marketing and live development costs.
We are lucky enough to have access to our own personal wealth to finance some of it, but we are also seeking external investors, and we are close to striking a deal with a couple of people.
Luckily most of the development is done in-house, hence we can keep our costs down. The same can’t be said however about our marketing costs as we have employed one of the best (if not the best) marketing agency around, LunaPR, and if you want the best you have to be prepared to pay for it 😉
Q5) What is the most ambitious goal of your project? What is the ultimate vision that Your project is trying to achieve within the cryptocurrencies market? I would appreciate it if you could share with us any Upcoming Updates?
Each project that makes up the Forint ecosystem is very important for us and above all fundamental to create a complete ecosystem for the user.
Personally, the project for which I sympathize most is Dexy. In a market like crypto, still fairly unknown and often misunderstood, the barriers of entry are still too high from the technical point of view. This discourages novices to approach this world, and our Dexy Platform facilitates and allows the purchase of crypto in a simple and fast way.
Our goal is to make this world accessible to everyone and not just to experienced users. This is the only way to attract more and more investors, revolutionizing the economic system as it is conceived today, making it accessible to everyone regardless of socio-economic background.
Q6) Please provide more information on your ROADMAP. What are the most anticipated plans and events for the next few days and months that we should be aware of?
Our roadmap has been designed to keep adding value to our investors for many years to come. We foresee that our first product, without counting our token, will be ready very soon, as we are finalising the banking arrangements but the technical development is finished. This is Dexy, a user-friendly intermediary interface that will allow you to connect to decentralised exchanges and buy/sell just by entering your card details on the virtual POS on our website. A new product will be launched on Monday. Following this, before the end of Q4, we will have our ICO launcher platform that will allow third party projects to launch using our platform. Users will be able to buy in presales with full confidence that their money is safe and that the project has gone through our KYC checks. We already have 2 tokens ready to launch on our platform. Following this we will have the first physical Dexy ATM in Q1 2022. If you want to know about our future projects, I would suggest you look at our website, forintfinance.com, because I could keep talking for another hour :-), but just to give you an idea, we will have our marketplace for NFTs, goods, and services, as well as Forint Fiscal Assistant.
Q7) Hackers and Scammers are very much active. Can you please give some information about the Security system of your project? How safe is your project especially for long term investors???
FORINT has been audited by Techrate and SCAC, and it has passed all the tests on the functions implemented in the smart contract without finding any major critical issues; we are also waiting to be able to audit our DAPP Dexy.
Our portal Forint Finance provides access through an asymmetric encryption protocol https in order to prevent possible interceptions of the contents during the operative session. The login happens through the inclusion of an email and a password encrypted with a 512 bit hash algorithm.
Additionally, we implemented further security measures in order to prevent further problems, such as SQL Injections, Session Hijacking, Network Eavesdropping, Cross-site Scripting, and Brute force attacks (let me know if you want to know more about it).
We also store all login attempts, both successful and unsuccessful. In case of unsuccessful attempts, it is possible to delay the next login attempt by a number of x seconds, in increments of each incorrect login.
For example, if I try to access the portal and enter an incorrect password, I can try again after 30 seconds, if I continue to enter incorrect credentials I can try again after one minute, so on up to 5 incorrect attempts after which the user will be suspended and only Forint Finance LTD can rehabilitate the user after a verification procedure.
Q8) Most investors now think only of profit but ignore long-term benefits. So you can give them some reasons why they should buy and hold your tokens in the long run?
The project is structured in a way that at every point of the development there will be new “reasons” for people to invest. As we mentioned, we have put our names, reputations, and careers on the line, therefore we are here for a long time, not just a good time 😀
The reason why our most loyal holders are staying with us is because of our communication, live on twitch, and because our experience and the will to make this a product that they can “forget about it” as the price is only going to increase over time.
One day, you will be talking about “participating in an AMA with Forint finance when they were a small Low Cap coin”
Q9) How important is the COMMUNITY to you? and how can we collaborate or help you for the development of the project?
For us the community is crucial, that’s why every week on Monday we have two AMAs, the international one and the italian one. Here we share all the latest updates and we ALWAYS ask for feedback. For us, Forint Finance is everything and that’s why we put 1000% in it, working late and reacting as quickly as possible to this fast paced industry. Our project is a long lasting project, developed to add value for our holders at each step. Any ideas are welcome. We are working with some potential big investors to speed up the process, but at the same time any new holder will be key to our success. Buy Forint and HOLD! 😉 At the end of the day our main goal is to create the safest and most complete portal for all your cryptocurrency needs.
Q10) Where can I currently buy Token?
I invite you to view our website, where you can find the Whitepaper and all the information about our company and projects. This is the website link https://forintfinance.com/. In the Token section, you will also find a guide with the various steps on how to buy. Soon, it will also be possible to buy it from our Dexy, enjoying all the advantages of Forint.
And this was the end of our AMA with ForintFinance .
If you have any other questions you can ask here:
ℹ️ℹ️ Useful links ℹ️ℹ️
Website :- https://forintfinance.com/
Twitter :- https://twitter.com/ForintToken
Instagram :- https://www.instagram.com/forint.token/
Medium :- https://medium.com/@forint_finance
Telegram official community :- https://t.me/ForintFinance