Date – 16 March 2022
Time – 12:00 PM UTC
Guest – Mr. Exortus
Venue – https://t.me/Crypto_Talkzs
Website – http://app.updefi.finance/
🌟 Mr. Exortus shared us the Details about ‘ UPDEFI ‘ and it’s Unique features… 🌟
Host : 👋Hello Chat , Welcome to another exclusive Crypto Talkz AMA❤️
Let’s welcome Exortus to have the first AMA in the Crypto Talkz community; he is one of UpDeFi’s CM’s in the English community. Nice to meet you Exortus 🙂
Exortus: Hey everyone!
It is really nice to be here.
Nice to meet you too!
Host : Hello @uporup ..It’s a pleasure to have you here, thanks for joining us 🙂
So, without making a delay…Let’s start our AMA with basic Introduction Segment 🙂
Exortus: Of course
Introduction Segment
Could you please introduce yourself and UpDeFi to us?
Exortus: Hello everyone! I’m Exortus from UpDefi: https://app.updefi.finance
I have years of experience in DeFi project community management and I’m one of the early participants of UpDeFi. It’s an honor to be a guest to represent UpDeFi to the Crypto Talkz community today.
The UpDeFi team has extensive experience with DeFi projects. And we all come from the Mars Ecosystem community! We were very impressed with the achievements made from Mars Farms’ innovative yield mechanism: Mars Ecosystem maintained a long-term TVL of $500 million and over 500% of APR. So we began to think about further expanding Mars Farms’ successful yield mechanism to serve more users and DeFi protocols. We contacted the Mars Ecosystem team, and they were very supportive of our idea and have provided us with great advice during our product development process.
We appreciate the support we have received from the Mars Ecosystem team, and we are committed to rewarding the Mars Ecosystem communities and users both in product and tokenomics aspects.
I noticed that UpDeFi is a fair launch project by the community. Could you explain it in more detail?
Exortus: Serving the community is one of UpDeFi project’s core values.
Our project and products are completely community-driven. Our team, users, and collaborating projects all come from the community. We are firmly committed to building an active and united community.
UpDeFi is a fair launch project with no pre-sale, no investor, and no pre-mine. Only participants who contribute to the UpDeFi protocol will receive UP tokens based on their contributions.
As you just said, UpDeFi has absorbed Mars Farms’ successful mechanisms and experience. Can you share with us the details of UpDeFi product?
Exortus: UpDeFi’s goals are:
For users: To build a one-stop, secure, most profitable, easy-to-use, flexible Yield-as-a-service (YaaS) platform that is comprehensive to all blockchains in order for users to meet all their yield needs.
For projects: To enable other projects to improve the capital efficiency they produce through their incentive programs (such as liquidity mining, transaction mining, borrowing mining, etc.). This way, other projects can pay the minimum capital cost to obtain maximum liquidity and user attention.
To be specific, Strategies are UpDeFi’s main product.
A strategy is a fixed investment strategy defined by a smart contract, which takes advantage of the yield opportunities (such as liquidity mining, transaction mining, borrowing mining, etc.) and financial products (such as trading, lending, etc.) in various DeFi protocols or other types of projects to achieve complex automated investment operations, thereby bringing automated and optimal yields to users’ funds.
UpDeFi continues to develop the most secure, most profitable, and easiest-to-use yield strategies across all blockchains.
The great innovation of UpDeFi is the combination of Yield-enhancing Strategy and UP-staking Strategy, could you explain it in more detail?
Exortus: The combination of the Yield-enhancing Strategy and the UP-staking Strategy helps projects achieve the purpose of motivating long-term users more effectively without altering projects’ ongoing liquidity mining programs. Using these two strategies enables users to obtain higher yields that the auto-compounding strategies cannot bring.
This is actualized by using the native UP token of the UpDeFi protocol as a bridge for yield realization: the rewards directly obtained by users who deposit assets in the UpDeFi platform’s yield-enhancing strategies are UP tokens. These UP tokens will not be released to users immediately, but through a vesting period. By staking UP tokens, users can participate in UP staking strategies and share the yields obtained by all the assets deposited by users in the mining pool of the underlying yield protocols through yield-enhancing strategies and auto-compounding strategies.
In this case, UpDeFi’s innovative strategies can help other projects dramatically improve the efficiency of their liquidity mining.Could you tell us if collaboration with other projects is one of UpDeFi’s key plans?
Exortus: Partnership is one of the most important points for our project. Because UpDeFi will continuously activate the liquidity of different partners and provide maximum profit to these partners. That’s why our team has started many programs and continues to maintain them.
Yield Enhancement Program: The Yield Enhancement Program is designed to help any protocol and DAO treasury to enhance their yields by using UpDeFi’s yield strategies.
Any protocol and DAO treasury that integrates with UpDeFi’s yield strategies can receive up to 50% of the UpDeFi protocol revenues generated by their contribution TVL.
If you would like to become a Yield Enhancement Program Partner, please contact us!
UP Incentive Program: The UP Incentive Program is designed to help incentive programs (such as liquidity mining programs, transaction mining programs, borrowing mining programs, etc.) of high-quality projects to improve its capital efficiency and pay the smallest capital cost to obtain the greatest liquidity and user attention.
In addition to the yields, DeFi users have another important concern which is the security of the principal. Could you tell us about the security of UpDeFi in detail?
Exortus: Security is our core value.We understand that security is the number one concern for users. We continue to invest in ensuring the security of the UpDeFi platform and the security of the underlying yield protocols and their mining pools.
Specifically: UpDeFi is a non-custodial platform for user assets, which means that users can withdraw their assets on the UpDeFi platform at any time. At the same time, UpDeFi cannot use the assets deposited by users in any way outside the defined yield strategy.
We conduct detailed risk assessment and testing of the underlying yield protocols and mining pools that plan to be integrated by the UpDeFi platform strategies, and only launch strategies to users after confirming that there are no foreseeable risks. After the strategy is launched, we will continue to track all changes to the corresponding protocols and mining pools to ensure the security of users’ deposited assets.
PeckShield Audit Report: https://github.com/up-defi/up-resource/blob/main/audit/PeckShield-Audit-Report-UpDeFi-v1.0.pdf
CertiK Audit Report: https://github.com/up-defi/up-resource/blob/main/audit/Certik-Audit-Report-UpDeFi__final-20220303T021017Z-1646278412677.pdf
What kind of in-depth collaborations will UpDeFi and Mars Ecosystem establish?
And how could these collaborations benefit the XMS and USDm holders?
Exortus:
UpDeFi is a fair launch project with no pre-sale, no investor, and no pre-mine. We will release the UP token through the first launch of IDO in the Mars Ecosystem.
Users need XMS to purchase the UP token, and the details will be announced soon.
After the IDO, UpDeFi’s strategies will be officially launched. UpDeFi’s first released strategies include three types of strategies towards both the Mars Ecosystem and PancakeSwap platforms.
This means that XMS and USDm users will be the first ones to pass IDO, receive UP tokens by mining on the UpDeFi platform, and also receive yields by staking the UP tokens from the UpDeFi platform.
Besides, UpDeFi and Mars Ecosystem cooperate and maintain partnerships at the marketing and community level. For example, right now, you can join both of our communities to get a chance to split a $500 reward! Do not miss this opportunity!
Join now:
https://twitter.com/MarsEcosystem/status/1497574879398445065?s=20&t=708akJ3L5UvWJcx1j8Dikw
Coming up next, UpDeFi will offer more exclusive benefits to Mars Ecosystem community users, stay tuned!
In addition to serving users, UpDeFi has also launched a Yield Enhancement Program towards other protocols and DAO treasury, could you introduce it to us in detail?
Exortus: The Yield Enhancement Program is designed to help any protocol and DAO treasury to enhance their yields by using UpDeFi’s yield strategies.
Any protocol and DAO treasury that integrates with UpDeFi’s yield strategies can receive up to 50% of the UpDeFi protocol revenues generated by their contribution TVL.
We will determine a yield enhancement program partner’s revenue sharing tier based on the total TVL of all strategies in the UpDeFi protocol, and then determine its revenue sharing level.
If you would like to become a Yield Enhancement Program Partner, please contact us!
And lastly, We heard that UpDeFI is going to launch on Mars Ecosystem, could you tell us more about it?
Exortus: Yes, we will hold our IDO on Mars Ecosystem’s launchpad from 12:30 to 13:30 UTC on 21st of March, the total supply of $up will be 1 Billion and 2%, which is 20Million of $UP will be allocated during the IDO.
You need to hold $XMS to participate in IDO, and the price of $UP IDO would be 0.045USD per UP, 1.5 XMS per UP and launch on BNB Smart Chain (BEP-20) with a vesting schedule of 90 days linear vesting on a block-by-block basis. The vesting will start around 14:00 UTC on March 21. After the IDO. All the raised $XMS in IDO will be burned immediately after IDO.
Moreover, UpDeFi’s strategies and farms will also launch around 14:00 UTC on March 21.
You can buy $XMS at https://app.marsecosystem.com/swap
Twitter Segment
Q1. I was surprise to discover that 90% of the protocol’s revenue will be allocated to the $UP token holders. Why did you decide to model your business this way? Do you think that the remaining 10% of the revenue will be sustainable for your project in the long run?
Exortus: Yes of course! Our top priority is to provide maximum profit to our users! 10% will be used for the development of UpDeFi by going to the UpDeFi DAO and this part will be quite enough.
Q2. Do the token holders have the right to participate in the governance of the project? What kind of decisions can they vote on about the project?
Exortus: Yeah! Another feature of the UP token is the “government” feature. As I mentioned at the beginning, the UpDeFi team and its investors are people who come directly from the community. That’s why we attach great importance to listening to the voice of the community. Therefore, the UP token will be used as a Government token after the necessary breakthroughs. Stay tuned for more!
https://twitter.com/UpDeFiUp@UpDeFiUp
Q3. Can I earn a passive income from your project? Are there any staking options available for this? What are the benefits of holding tokens in the long run?
Exortus: In fact, the main purpose of UpDeFi is based on staking/yielding. The main goal of UpDeFi is to give the maximum return to farming users and different platforms and to enable them to use their liquidity in the most effective way.
Also, thanks to the unique feature of the UP token, users who stake the UP Token will be able to earn 90% of their platform revenues by staking!
Q4. It is very seldom to see a crypto-projects that is a “Yield-as-a-Service” platform just like UpDeFi. Can you please cite some of your project’s competitive features and advantages? Why should we choose is UpDeFi among your competitors?
Exortus: At present, the traditional yield aggregators (Autofarm, etc.) on BSC have no protocol tokens to reward users. In this case, users who participate in UpDeFi’s auto-compounding strategy can receive UP token rewards, and users can receive higher yields. Since the UpDeFi protocol has a unique yield-enhancing strategy in addition to the auto compounding strategy, therefore, UpDeFi protocol has a lasting and robust source of revenue.
Q5. So many projects just like to speak about the “long term vision and mission” but what are your short terms objectives? What are you focusing right now?I am interested to invest in Your project. Where & When can I buy Your Tokens? Is it already listed exchanges?
Our short-term plan is to first perform IDO on Mars Ecosystem.
Later, our platform will come to life with our 3 strategies using Mars Ecosystem and Pancakeswap.
Besides that, our team will work to add more platforms and develop more strategies.
Our marketing team, on the other hand, will constantly prepare plans and create new local communities in order to announce the project to many people.
🔊Announcement: https://t.me/updefi_announcement
🇨🇳Chinese：https://t.me/UpDeFi_CN
🇪🇸 Spanish：https://t.me/UpDeFi_ES
🇮🇹Italian：https://t.me/UpDeFi_Italia
🇻🇳Vietnamese：https://t.me/UpDeFi_VN
🇮🇩Indonesian：https://t.me/UpDeFi_IDSA
🇵🇹Portuguese：https://t.me/UpDeFi_PT
Live Segment
Q. Currently from where i can buy ? Is it possible that I can get only by holding it? SIR Thanks?
Our IDO on @Mars_Ecosystem will start at ⌛️12:30 PM UTC on the 21st of Mar for 1 hour. The IHO Price will be $0.045 per $UP, 1.5 $XMS per $UP
Purchased $UP will be released via 90 days linear vesting on a block-by-block basis after the IDO.
Q. Are you a global project or local project? At present, which market are you focus on, or is it focused on building and growing to gain customers, users and partners❓
The UpDeFi team is aware that the community is one of the most important parts of a project, and we aim to establish a large community with this awareness. The communities we have established are not only for those who speak English, but thanks to our CMs from many different nationalities, our local communities and our marketing efforts continue at full speed. Be sure to check out the links below to follow them.
Do you have AUDIT certificate or are you working to AUDIT your project, so that the security of the PROJECT becomes more secure and reliable.??
Security is one of our core values. We continue to invest in ensuring the security of the UpDeFi platform and the security of the underlying yield protocols and their mining pools.
UpDeFi is a non-custodial platform for user assets, which means that users can withdraw their assets on the UpDeFi platform at any time. At the same time, UpDeFi cannot use the assets deposited by users in any way outside the defined yield strategy.
We conduct detailed risk assessment and testing of the underlying yield protocols and mining pools that plan to be integrated by the UpDeFi platform strategies, and only launch strategies to users after confirming that there are no foreseeable risks. After the strategy is launched, we will continue to track all changes to the corresponding protocols and mining pools to ensure the security of users’ deposited assets.
UpDeFi’s contracts have been audited by well-known security companies in the industry, CertiK, and PeckShield.The CertiK and PeckShield audit reports are about to be released and the UpDeFi team will share the audit reports with the community users first.
Moreover, UpDeFi cooperates with Immunefi, the most well-known bug bounty organization in the industry, to incentivize top developers with real money to further ensure the security of the UpDeFi protocol.
Q. Ambassadors play a very important role in every project, Do you have an ambassador program? if yes please share it with us.
plz tlle me
Proudly introducing 🎉our UpHolder Program, where you can contribute to the #UpDefi community while earning ✨ $UP and have a chance to stake in💖 an exclusive pool with higher APR pool by completing tasks published! https://t.co/h6wu60eIxz
The first task will be announced soon! https://t.co/3WBqNc1H8F
Q. ♀️According to the roadmap, what is your most important next priority? ⛈️♀️
According to the roadmap, what is your most important next priority? ⛈️
UpDeFi’s mission:
To build a one-stop, secure, most profitable, easy-to-use, flexible YaaS platform that is comprehensive to all blockchains for users in order to meet all their yield needs.
To enable other projects to improve the capital efficiency they produce through their incentive programs (such as liquidity mining, transaction mining, borrowing mining, etc.). This way, other projects can pay the minimum capital cost to obtain maximum liquidity and user attention.
Host : Thanks for diving us deeper unto UpDefi. Chat thanks also for those great questions.
Its time for Wrapping Up, any other things you want to share with the communities? @uporup 🙂
Exortus: Thank you everyone!
I want them ready for the upcoming IDO! Don’t forget to follow Mars and UpDeFi!
Also, thank you for your kind and warm hosting
✏️dApp: https://app.updefi.finance/
🐦Twitter: https://twitter.com/UpDeFiUp
📩E-Mail: support@updefi.io
📖Whitepaper: https://docs.updefi.finance/