Welcome Banter Fam for a brand new AMA with Acta Finance, my name is @CryptoGameNerd and I will be your AMA host for today!
Q: Hello Christof, good to have you here for our AMA with Acta Finance, could you tell us a bit more about yourself, where are you from and what is your background?
A: I am Christof Waton, Founder& CEO at Acta Finance, cross-chain liquidity aggregator.
Originally I’m from Belgium, but I would say ever since 2017 I have relocated to Telegram 🙂
My background a bit:
- 3.5 y militairy
- 1 y sales
- 3y CBDO centralized liquidity aggregator
- 2y CBDO as contractor / consultant
And since the past year, started working on my own project ‘Acta Finance’
Q: What was the first Crypto you bought and when was this?
A: Bitcoin in 2014, maybe even later half 2013 actually
Q: Can you tell us when and why you started working at Acta Finance?
A: Multiple reasons actually. I wrote out 2 DeFi ecosystems before I started on Acta Finance.
With both i brought innovation to the DeFi industry, but i wanted to bring more. I wanted to bring a whole DeFi ecosystem that incentivizes users and motivates the growth. When in March 2021 (last year) the 11k $ btc drop in minutes, I crosschecked the btc inflow and btc reserve at that time on the CEXs.
None made any sense for btc to drop by that amount cuz there are liquidity frameworks and arbitraging bots that should have stepped in. The btc price difference was 2k $ between btc on Kucoin - Binance. Having my past in a centralized liqudiity aggregator, I knew this was just 100% manipulated liquidations. So i wanted to bring decentralised derivatives. Thats when i started to write out my own ecosystem, Acta Finance
Q: The project is mentioned to be “The World's First Cross-Chain Liquidity Aggregator”. Can you explain to us what this means and why we need it?
A: A cross-chain liquidity aggregator, with active liquidity 😉
Cross-chain interoperability is the future.
On our ActaFi Swap (Under development), we use tokenbridges as a secondary function on the backend on each swap to allow traders to tap automatically in the deep liquidity of an asset. An asset can be issued on multiple networks and therefore the liquidity is spread.
We connect the liquidity pools of an asset on AMM protocols that we integrate (aggregate) to bring the best outcome for the traders at all times.
Active liquidity: Uniswap V3 liquidity pools are currently the only ‘active liquidity’ pools.
Q: It’s important for us to know how this project is properly funded, did you attract some smart money?
A: Only smartmoney.
We gave an allocation to invest to:
- KOLs / content creators
- service providers, that are providing services for free in return for the opportunity to invest in us
- Liquidity Provider(s) had access to the seed sale.
The very very early community has a very small ticket in the private sale. But still 90% of the private sale consists out of smart money. Ran (Banter Capital), Carl the Moon, MMcrypto, Coin Muhendisi, .. you name em, they all joined our private sale
Q: The project originally started under a different name, can you explain why you changed the name?
A: Originally, we were p2p finance. Since we bring EVERYTHING by smartcontract, p2p (peer-to-peer) fits very well and the registered name of the company is P2P Solutions Ltd. However, for SEO reasons we had to rebrand. At that time, we were still focussing on only Cardano development. ADA Finance was available, so we went with that.
However, in October after a few talks with IOHK, I decided to bring in a 2nd development team to build the entire ecosystem also on Avalanche. With Cardano not able to deliver, or be ready, for the high-frequency usage, we are issuing our initial utilities with Avalanche.
ADA Finance was linked to Cardano, which has a lot of haters. With our initial utilities on Avalanche the name ADA Finance didnt fit so we took our time to structure a neutral brand and scaled the team to bring a smooth execution.
Q: I see there is a lot upcoming in the roadmap, but it doesn’t mention any timeline, could you share this with the Banter Fam, what can we expect when?
A: People can find the roadmap here: https://actafi.org/ecosystem
So regarding no times:
When making the initial roadmap, we though of phases that any project goes through.
Currently we are at the public sale, where we have the following smartcontracts under audit:
- wNFT (TGE incentive)
- Staking
- Affiliate / referral
- Address Milestones
From platform side, what people see is alpha. On the backend we have a whole other version ready which looks a lot more sexy. After the audit we connect the TGE smartcontracts (Affiliate, address milestones, wNFT) with the frontend and then we can hit the launch.
The launch itself, hold heart, is currently in discussion with all platforms in May (first half).
We are currently engaging with contractor development teams. As people will see, we bring a lot of features that touch innovation to the industry. Hiring individuals and scaling the inhosue team happens continuously. But to find quality is hard. Any project will tell you that.
The roadmap ahead:
- Listing in May, with: wNFT, address milestones and affiliate.
- Followed by staking, 3 weeks later. This is to give the affiliates a chance to build out their network first.
- We have our ActaFi Swap, with farming smartcontracts coming in Q4 this year. Depending on the scaling of the team, we can move faster with development of components of our ecosystem, such as:
- Customized subnetwork, that allows our token to be used as gas function within our ecosystem (q3 2022)
- Launchpad (Late Q3 2022)
- DAO Program (q4 2022)
- p2p lending which feeds the margin request (q1 2023)
The above dates are under revision as said, based on the scaling of the team and attracting strong development contractor teams.
Q: You have the Acta token, what is the use case of this token? And where does the Banter Fam buy this token?
A: The ACTA Token utilities:
1. To start the affiliate program and receive your referral link, the user needs to lock in 50 ACTA Tokens. Nobody in this industry brough Affiliate (referral) Program on-chain yet. This is because there are so many ways to manipulate a referral program in the centralized way.
To bring an Affiliate Program in a decentralized way, there has to be securities in place to avoid abuse of the rewards. Requiring a user to lock 50 ACTA Tokens in a smartcontract is one of the securities 😉
2. ACTA Tokens can be used to repay loans.
3. Participation in the ActaFi Launchpad is based on a tier structure (HODL or Staking)
4. Participation int eh Acta Finance DAO Program requires a user to lock-in a minimum ACTA stake (Counselor 25k, Minister 50k, Ambassador 100k) Each DAO level gives additional, and higher, platform fee distribution.
5. On the Avalanche p-chain (level), we can set up a subnetwork. With our own nodes as validator, we can customize the subnetwork to allow the ACTA Token to pay for gas fee.
Buying the token: We are currently in IDO stage.
1 completed on Vent Finance
1 registration closed on Paid Ignition.
There is another launchpad upcoming which is yet to be announced. I invite the community to keep a close eye on our socials to stay up to date and participate in the airdropds / give aways:
@actafi_official
@actafi_news
We have also selected some community questions which I want to fire at you:
Q: What will Acta Finance Team do “differently “ among the DEX’s already operating on the eco system of Avalanche and Cardano? (Dereal_mvp)
A: Currently the Dexs on Avalance and Cardano are not cross-chain, nor liquidity aggregating, nor do they have active liquidity. So bringing a cross-chain liquidity aggregator is new to the entire industry.
Liquidity aggrgating: Connecting the liquidity pools on the same network (For example Pangolin, Trader Joe, Sushiswap, …)
Tokenbridges as secondary function on each swap allows users to tap into an asset’s deep liquidity (issued on multiple networks)
Active liquidity: Providing liquidity in a concentrated spread offers a much higher (up to x5) return for liquidity providers. Thats why we manage to secure a famous family office in crypto to be our liquidity provider
On top of that, there is nobody that brought a complete DeFi ecosystem before. Neither on Cardano or nor on Avalanche.
Q: I read in your Medium article that TGE incentives will wrap around NFTs. Could you give more information about this topic? (@captain_price9)
A: Absolutely, another solid question for everyone to understand 👍
At TGE we bring wNFT (wrapped NFT) as incentive. There will be 2 versions:
1. 8 months lockup 25% APY
or
2. 12 months lockup 35% APY
So people their stake is locked, that unlocks by time, but wrapped in an NFT which is tradable / transferable. So consider wNFT as a locked staking, which is wrapped in an NFT that can be sold. This allows people to liquidate their stake deposit (and the reward)
Imagine, i stake 1000 tokens in the 12months lockup. -> The smartcontract locks my deposit (1000 tokens) + the reward (350 tokens) together in an NFT. So by depositing 1000 tokens in the wNFT TGE incentive, it allows me to sell an NFT that holds 1350 tokens.
The wNFT is a TGE incentive. So it is only limited available on launch.
The 8 months lockup pool has room for 2m ACTA Tokens.
The 12 months lockup pool has room for 1.5m Tokens.
Q: I believe we will have a launchpad and eventually Acta holders will vote on which projects will be launched (when DAO is fully functional), correct? Are there any planned incentive (to holders/stakers) who bring/mediate new projects to be launched? (@Elea_Norz)
A: ACTA Ambassadors (requires 100,000 ACTA in staking) can indeed vote on projects that can start fundraising (1/month) on ActaFi Launchpadnot. The launchpad is B2B Focussed and introductions by the holders is allowed, but those projects need to pass our due diligence first.
It is our responsibility to protect our community / investors. The DAO program (Ambassadors) are allowed to vote monthly on 1 project that will be allowed to raise funds. Part of the raised funds (2.5%) is redistributed to the DAO program, giving it a nice return for being a supporter of the DAO program.
@CryptoGameNerd: Thanks for bringing up that question
Christof: Before we open the chat to the community to ask live questions. I would like to mention something 🙏
Acta Finance is all about incentivising and rewarding the community. Platform fees get redistributed in the affiliate program and DAO program participants. Further, on 1st May, we start a 2month ACTIVITY AIRDROP. The top 500 active people in our Telegram community channel receive an airdrop at minimum value of 100$ people that are active on Telegram and want to participate can join here:
@actafi_official
@CryptoGameNerd: Wow that dropped out of nowhere, thanks for sharing this with us, but don't expect the Banter Fam to be mild with their questions now....
Leona Bianca: "ActaFi Lending" is one of the products offered by Acta Finance; could you tell us more about this lending product? How does it operate in practice? What should people do to get the most out of it? How can someone invest in ActaFi Lending, and how are users' investments protected?
A: ActaFi lending allows people to lend their assets to margin traders (borrowers) on ActaFi Swap. Margin Trading on ActaFi Swap is protected by smartcontract, like every feature / product within our ecosystem.
The algorithm is written so that lenders’ assets are protected against market dumps, since we use a complete decentralised price feed, unlike the centralised exchanges. There has been NO platform out there yet that brings a complete decentralised liquidition. Acta Finance will be the first 😉
How does it operate: When a user engages with margin trading, the margin gets provided by the ActaFi Lending, which is peer-to-peer. We have an institutional liquidity provider that will provide the margin loan at 2% daily, so users that want to put their assets available for the margin traders can do so.
Margin traders can engage with lending offers individually, or automatically (taking the best rates)
Hsyin: Governance mechanism in the project ecosystem is important to ensure decentralization. Will there be a true DAO model in the ActaFi ecosystem and how will your community participate in the management?
A:The community can participate in the DAO program, which redistributes platform fees directly to the DAO pools. Each title requires an amount of stake to be locked in for a quarter:
Counselor - 25,000 ACTA
Minister - 50,000 ACTA
Ambassador - 100,000 ACTA
At the start, the counselors can vote on smartcontract audits.
Ministers can vote on SC audits + farming pools on ActaFi Swap, which are being opened to incentivize liquidity providers.
Ambassadors can vote on SC audits + farming pools + ActaFi Launchpad projects. The ambassadors also have a guaranteed investment allocation in each project on our launchpad.
Celes: How does the user earn tokens with using the referral link option for inviting friends in 3 levels?
A:Engaging with the affiliate program will require 50 ACTA Tokens to be locked for 6months.
You will receive your referral link, which you can distribute to your network / friends / the internet / forums / … There are indeed 3 levels.
Acta Finance introduces Address Milestones (like account milestones but decentralised). Each time a person succeeds a milestone, the user receives a reward. When your referral reaches a milestone, you receive a commission of that reward!
Also, within our ecosystem there are small fees involved in the passive earning opportunities. Thats how we can sustain the affiliate program AND motivate users to engage long-term with the passive earning features 😉
Everybody wins 👍
When you as referral have activated the affiliate link, and were referred by someone else yourself, you receive a 10% kickback on the commission that your affiliates received from you succeeding your address milestone 👍
Febriyanti Oktavia: Can i made my Carrer In acts finance, If Yes Please guide me Because I am Interested to Join this Platform and Build my Carrer?
A: Yes you can.
Professionally: we are constantly scaling the team with quality. Currently we have 6? job positions open (frontend dev, backend dev, community admins, designers, …)
As platform user:
We have
- Affiliate Program The Affiliate Program motivates you to spread the word about Acta Finance. The more active referrals that hit milestones, or start with staking, the more commissions you receive 👍
- DAO Program The DAO program allows you to receive a redistribution of the fees within the Acta Finance ecosystem.
Angel: Does #Actafi plan to join other chains besides ADA and AVALANCHE? What kind of security will #ActafI implement when selecting projects to launch on its platform and avoid scam and rug pulling?
A: The ActaFi Swap, as cross-chain liquidity aggregator, will be connected with any network that we have tokenbridges active with. EVM compatible chains are ‘easy’ to connect so yes be ready to tap in the BSC liquidity, or polygon, or…
What would be the use for a cross-chain liquidity aggregator, if we would only tap into the liquidity of selected networks. Tokenbridge active = network liquidity active 🙂
Regarding the launchpad, projects that engage with ActaFi Launchpad will have their fundraising released over time. The development roadmap / milestones are to be determined between ActaFi and the fundraising project. Based on the project reaching their milestones, they get the investment released.
So we don’t release 100% in 1 time, but spread over time. In the event a project fails to deliver, the remaining investments are refunded to the investors. Once more, nobody ever brought this protection to their community. 🤗
To the people who’m i did not manage to get to answer.. there will be more AMA opportunities (with rewards) in our telegram channel @actafi_official.
Also, if you have an urgent question..feel free to ask away. Our team and community is pretty helpful 👍
Banter Fam please go and check out this amazing project, thanks for being with us! Find more info about Acta Finance with the links below:
actafi.org