DeFi Wizard AMA Summary Recap with Shin Chan Community
We held a live AMA with Ananad Kamath, Founder of Defi Wizard on 22th February 10:00 PM (UTC+8). Here’s the recap for those who missed it.
Introduction
JH: Before we start our first section, can you please introduce your background and tell us your experience for your crypto journey?
Anand Kamath: My background has been Developer all my life. I expertise in full-stack javascript development. Smart Contract development happened naturally for me, I started smart contract development almost 3 years back. Have built the smart contracts for many leading projects. I started my crypto journey in 2017 as ICO investor. I started exploring crypto tech 3 years back.
Have been building through out the bear market, Now we started with DeFiWizard.
JH: Do you have any latest news would like to share with our community? Do you have any latest news would like to share with our community?
Anand Kamath: We are kickstarting our TGE campaign effectively with this AMA. We will be having DUAL IDO on Bounce Finance and FalconSwap.
More exciting news coming up everyday from us.
Twitter AMA Begins:
Q1. The first Twitter Questions from @komando911
“The market today has a lot of development projects on the Blockchain platform. One of the factors that makes the platform appealing to many users is its special features. So, what are the outstanding features and advantages of DeFi Wizard to attract users and investors?”
Anand Kamath: Firstly we aren’t a whitepaper project.
Our software is being used in MainNet by 5 projects in MainNet. We have processed more than $100M AUM already through the smart contracts generated through DeFiWizard.
Here is the list of projects who are using our platform: https://defiwizard.xyz/projects
We have done a breakthrough with ETH-BSC bridge.
Atleast 25 projects would be using our bridge in coming days.
Q2. The second Twitter Questions from @King_9098
$DWZ Token is a governance token that holders can use to pay for token creation / staking contracts / yield farm contracts. Apart from the above statement, can the holder use it for other purposes? If so, can you name other uses for $DWZ?
Anand Kamath: We will run LP programs on both ETH and BSC, $DWZ can be used for Liquidity.
We will come up come more innovative 1-click templates which would have a dependency to use $DWZ.
Governance is another utility, which powers our protocol and platform decisions.
Q3. The third Twitter Questions from @RajVi222
Your solution is a very huge gap that has been begging to be filled all this while. How was this idea conceived?
Anand Kamath: I worked with atleast 40 projects for building smart contracts for tokens before i started the DeFiWizard.
Every single project needed the same requirements with smallest changes. I had a pre-definied template. I even created the local command-line tool to generate the contracts for projects very quickly.
Recently i decided to launch a platform so that everyone can use it.
4. The fourth Twitter Questions from @AugustK95
You mentioned that you can “Create an audited ERC20 / BEP20 / EDST token”, but can anyone create that? what will your requirements be? And also the audit process will be automatic and covered by DeFi Wizard?
Anand Kamath: We get the base contracts audited by audit firm. We will generate the tokens using the audited contracts by accepting some of the parameters such as symbol, name, supply. We just change these values and run the tests against these.
Q5. The last Twitter Questions from @Ladyofmamy
When someone uses your service, customers will always ask, “What will I get from Defi Wizard?”. Currently, how many projects use the Defi Wizard service solution? Please state
Anand Kamath: Here is the pricing and services offered by DeFiWizard: https://defiwizard.xyz/pricing
Here are the list of projects who are already using us: https://defiwizard.xyz/projects
Live AMA Begin:
Q6: Hi sir @Anandkamath, Many projects only talk about their strengths. Can you tell us honestly about the weaknesses of your project? And how does your project address this weakness?
Anand Kamath: Our weakness has been, we got overwhelmed by too many projects working with us. We started with 3 people team, we quickly sclaed it to 6 people. Still haven’t been able to scale with so much demand.
Q7: Ambassadors play a very important role in every project, Do you have an ambassador program? If yes, how can I be one ?
Anand Kamath: We are going with Ambasaddor program next week
Q8: We are living in the advent of YIELD FARMING and Liqiudity Mining, can you share your personal opinion on Yield Farming and also Briefly explain your Liquidity Mining Program?
Anand Kamath: It’s one the proven way to improve the on-chain liquidity for projects and rewards users. It definitely has worked out with simple 2 step process.
Q9: -Defi Wizard recently partnered with ZeroSwap. Can you tell us more about this partnership and how it helps your project to scale?
-What roles do community members play in Defi Wizard DAO Governance? Can $DWZ token holders have the right to submit proposal and participate in the governance of the project? What kind of decisions can they vote on about the project?
Anand Kamath: ZeroSwap used our LP Staking Platform to increase their on-chain liquidity
Q10: I see there is partnership news with Zeroswap, will you have earn DWZ program by add liquidity on zeroswap in near future?
Anand Kamath: Definitely yes, but i don’t want to leak any alpha right now.
Q11: In the platform of DeFi wizard users generate audited smart contracts for their tokens in some clicks, how are the SM audited, Who does the audit, how complete is it and where can we see the results?
🔥The smart contracts created on DeFi Wizardsupport staking, yield farming, decentralized governance, cross-chain bridges and less gas. Having so many features in one Smart contract make it difficult to use?
Anand Kamath: Audits are done prior. We will just change the values in the wizard.
Q12: When will the general sale be announced and how can I participate in the sale with what payment will the general sale make in #DefiWizard?
Anand Kamath: This would be announced in next 1–2 days
Q13: What is your relationship with $MEME project? Can you tell us how did you get inspiration from them?
Anand Kamath: Definitely got the inspiration from the $MEME founder tweet.
Q14: in token release schedule liquidity: 100% distributed to the community every month for 8 months. Does this include rewards for DWZ holders? can you explain
Anand Kamath: We will announce the complete details in 1–2 days.
Q15: What is the development status of the ETH-BSC bridge? Can projects move their assets from ETH to BSC?
Anand Kamath: It’s already being used by 2 projects. More projects would be using it.
Q16: Do you have an NFT launch plan? Recently, many projects have launched NFTs to attract investors, how is your view of the NFT industry?
Anand Kamath: Definitely YES. We just created a template for NFT today.
End-
