Host – Hello everyone and welcome! Thank you for taking the time to be here. Today, we are excited to host Fundi Finance!
Host – Hello, & Welcome Fundi Finance, Who are we speaking with today? And can you tell us a bit about yourself?
Guest – Hi everyone, I’d like to thank you all for having me here to represent Fundi Finance today. I am Des Prout and I am one of the founding members of Fundi Finance, my role is CEO of Fundi ecosystem.
A little bit about me, well I started my working career with my own business before any formal qualifications and I started in an industry that was then quite far away from cryptocurrency, construction and real estate. I later gained educational qualifications in my spare time, I still own a construction business today and have built more houses and construction developments than one can even remember. My experience in construction spans over 20 years and I have been involved in real estate and engineering projects that were valued in $10’s of millions and managed multiple tradesmen.
My Crypto experience also started very early, after reading the BTC whitepaper in early 2009. By the end of 2009 I started mining BTC. This was the very first year of digital currencies. I continued to mine for 24 months and even once lost 14 BTC by losing my seed address around 2011. LOL I try not to think about this much now, haha, back then it was worth very little compared to today, BTC was still in the “DREAM PHASE”. It was about 2016 when I started trading stocks, shares, currencies and commodities. Whilst also taking a keen interest in blockchain technology that was driven by passion. About 2018 I was very fluent in knowledge of digital assets, trading, staking, transactions, blockchain and also a keen eye for emerging projects Including StakeCube. I soon became helpful as a community member on certain protocols with TA outlooks, trading talk and general help in DeFi etc. BY 2019 I was part of the furniture in several Crypto communities and started my days as community moderator at YFII. YFII were quick to see my knowledge in NFT and DeFi and soon asked me to market at the same time my trading skills grew to new levels and I made serious money, whilst being asked from more and more protocols to help them out on whitepaper/ posts/ tokenomics/ admins etc. In this time I had grown a huge base of friends and associates and also a DeFi group for helping others investing and general DeFi knowledge. By 2021 I was well over 100k in digital assets and a passion to evolve the space and bring greater options to digital markets became overwhelming. With over 20 years in construction and real estate and knowledge of crypto from year zero several friends, work colleagues and I decided it was time to Change DeFi and crypto so we made Fundi Finance in April 2021. 2 early team members in Fundi was @chetzP and @RVG1503 who you guys know from work at StakeCube.
Fundi is not just me, we have a full board and a team of close to 20. We are very lucky to have something you don’t find often in crypto atm and that is outside industry knowledge. We have a lot of experience between us in real estate, construction, law, and blockchain. We are particularly strong in real estate with the team being involved and managing real estate projects upto $50 million and a combined experience of nearly 100 years. .
Host – How does the governance work with Fundi Finance Token?
Guest – The Fundi Finance DAO operates as a decentralized, democratic voting system via a web3 dapp connected to a blockchain. To connect to the Fundi dapp, an investor must sign permission via a web3 wallet. Once connected, a user has to interact with the decentralized app to make their proposal and verify it on the blockchain. Any entity can propose a governance motion; no DAO tokens are currently needed to do this.
All proposals must have a time duration of more than 48 hours; a user must set the proposal to start in a future time and complete the required data.
An investor must own some DAO tokens to vote on an active proposal. Each DAO token represents one vote, and the maximum voting power for an individual is 1000 votes. For a motion to win, it must have a majority of over 55%, one a motion is voted, work to uphold it begins immediately.
The vision for the Fundi DAO is that ownership of the protocol is given to the DAO token holders. All protocol operations are proposed and voted for as a decentralized governing collective of individuals that build and evolve a computer code designed to manage an ecosystem. Fundi believes in a DAO ecosystem where investors control their finances entirely. With Fundi Finance, investors will become their point of central financial control, with a voice and voting power into how the overall system they chose to use works and operates.
Firstly the Fundi DAO system will have not one but two DAO tokens, and so far, Fundi is the first to take this novel approach; in the process, we have also solved one of the DAO most controversial problems. Securities regulations, as some may know, DAO projects have received some heat from the SEC in the past, with the SEC stating that most DAO structures and actions have areas that could be seen as a security action, thus making them a security token. Amazingly Fundi Finance protocol solves this problem. The Fundi team has split governance of the project right down the middle with a tokenomics designed ecosystem for two DAO tokens, one of which is a SECURITY token that is yet to be released. With 2 DAO tokens, the Fundi protocol creates an individual distinction between the grey areas of a DAO that are often seen as controversial to securities law. By separating the governing aspects between the projects and centralized and decentralized finance mechanics, Fundi Finance has designed a DAO system that tailors to many investors’ needs while complying with securities regulations.
Host – So what’s the difference between the two DAO tokens?
Guest – The Fundi Token has a ticker FF and is the DAO that governs the Fundi decentralized finance services; holders of the Fundi token can enjoy the benefits of total decentralization within the fundi protocol. Using or purchasing the FF token does not require KYC, and investors can utilize all Fundi DeFi products on the platform anonymously. FF holders can propose and vote on the governance of all DeFi products within the Fundi protocol, such as new LP pairs, fees, and reward smart contracts. The reward system for FF is also isolated from receiving income from any area in the Fundi ecosystem that can be deemed a security. FF’s reward income is solely accumulated from fees acquired via smart contracts for investors using DeFi products based on non-securities digital tokens only. Holders will receive this reward for supplying the FF token as staked liquidity with a multiplier on reward income for those that vote. Overall, Fundi Finance has spent a lot of time protecting the project from running afoul of any future regulatory problems and achieved from what I see an excellent legal framework that can only improve all future DAO tokens.
Suppose I was, to sum up, the fundamental pros and cons of FF to FFST. Then it would be that for the bonus of an investor keeping their anonymity and trading in decentralized finance, they become somewhat restricted in the options of governing power and reward income Fundi Finance can legally give to you. Of course, ultimately, you can hold both tokens. Still, Fundi Finance has respected that some investors, especially in the digital asset world, would like to remain with the power of anonymity. At the end of the day, in Fundi’s case, it is just clever marketing and allows them to push services to a greater audience.
Host – So that is how Fundi Finance will use the FF DAO token; what about FFST?
Guest – Firstly, I like the idea of FFST; it is all the things a real DAO should offer and more; best of all, it actually abides by regulation which, unfortunately, is not the case for many DAO tokens out there.
So, with the Fundi road map programmed to release FFST as a security token sometime in the second half of 2022, what can an investor expect on the list of perks to holding this securities token.
To start to purchase/ hold or trade the FFST token, Fundi will have to follow KYC compliance regulations. A reputable third-party provider will do KYC verification, and the Fundi Finance platform does to store personal data.
Once an investor has been verified via KYC, Fundi has promised a multitude of optimized finance, combining modern DeFi mechanics with traditional finance. Holding the token will pay a passive income similar to that of FF. However, this time rewards are paid as legal dividends and collected from a smart contract fee system that only operates within centralized finance areas.
Host – What does this mean?
Guest – It means that, basically, Fundi finance can pay dividends to FFST holders for fees taken from real estate tokenization, sales, loans or venture income, and other financial transactions that could be securities-related such as stocks or shares.
What is even more remarkable is that FFST holders will participate in digital and traditional finance evolution by tokenizing physical assets such as a home, a holiday house, gold, silver, and even an entire real estate development. Fundi is business-friendly and states services for real businesses are available, with not only attractive lending fees for collateral-backed loans. But a platform to tokenize real estate projects from the beginning at the funding and planning level. Fundi boasts of a launchpad and accelerator that crypto has never seen before, one for real business and real-world assets. Knowing the team has been involved in construction projects of up to $30 million in the past, it’s no surprise there is talk of real estate ventures with fractional ownership shares in the roadmap for 2022.
FFST holders will also benefit from a greater scope to governance powers, a no hold bars effect where FFST is more like a legal share and every holder is critical and part of the mechanics being a securities token FFST also gives greater transparency, security, and regulation to investors. These areas of Fundi Finance will be regulated and abide by regulatory measures of securities and not that of Cryptocurrencies.
So if I was, to sum up, the pros and the cons of FFST to FF, then in short it would be that for losing some decentralization and being KYC, an investor opens the door to a new level of digital and traditional finance an exciting new era where real-world assets come to crypto and crypto goes to real-world assets. Businesses get to benefit from DeFi-related products, suited to other asset classes, while entrepreneur-minded individuals can even raise funds for a real estate project. Most exciting is these industries are all big market cap players and Fundi only needs to tap into just a few percent of that to match the entire crypto market cap today. Overall, it seems that FFST is the first of a new era in DAO tokenomics, a hybrid securities token, a DAO more compliant with regulation and gives benefits of tokenization to real-world assets.
Host – What are some of the unique things your team is working on along the lines of NFTs, and Collateral backed loans?
Guest – Great question.
Lets start with collateral backed loans, Fundi is creating a system where investors can deposit both digital assets such as BTC or ETH or real world assets such as a home, holiday home, real estate, land, gold, silver, stocks shares. The Fundi system gives a user a fully secure and easy to use platform where tokenizing physical assets and borrowing against them will be as easy as making a coffee just by clicking and verifying. You can see a working flow chart to how this system works here:
Of course once a physical asset such as real estate is tokenized you don’t have to borrow from it, you can actually use it for passive reward income. Here are some example flow charts of this:
Moving on to NFT’s, we have made huge use of NFT’s within the Fundi protocol and most of it will surprise you as its all cutting edge utility use cases that are not mainstream YET!.
Firstly we will use NFT contracts within the protocol to give greater compliance in regulation of the Fundi protocol. For us NFT’s are a new emerging technology that can carry legal documentation, verify ownership, create fractional ownership shares and much more. NFT’s are far more than art in our protocol. We are utilizing NFT’s for its ability to create unique indivisible verification. We started very early in this area and designed a few NFT systems that are really quite special, one of which has evolved into another company and a partner to Fundi protocol USSDID or (Universal Self Sovereign Identity). USSDID in which Fundi are part of a team are creating a universal NFT passport for ID verification. Its uses in finance will be to KYC users quickly, digitally and autonomously. Another remarkable area which will lead into the next exciting NFT are for Fundi is, USSDID are working to allow the passport to give a self sovereign ID to a digital avatar on a meta verse. Allowing a user to link their real world verification to a digital avatar and give a digital avatar the verification needed to do tasks such as purchasing, confirming your age, exploring the metaverse.
Here is a simple flow chart example of the NFT passport
Alongside this Fundi made another huge step in NFT’s that started with a NFT concept called degen apes legends. Fundi Created the Degen Ape Legends saga with the community, being a concept where investors will be able to purchase NFT collection that will give financial defi benefits and staking utility. The collection consisted of 4 Ape kings and a NFT story book containing a story on each APE king.
During the designing and creation Fundi was approached by a company called https://www.3boardgames.com/multiverse/ and Director Jasen Lakic, after some serious discussions both teams decided that their ideas are fully compatible and merged. This is the second such design and idea of Fundi Finance that has merged into its own company and fulfilled the ecosystem Fundi have been building. The new company is called moonverse.games, and will be a play to earn NFT gaming metaverse. You can read a little on this here:
https://1drv.ms/b/s!Ase6OFZREJGOpHJFNT0p8Y3ebvEE?e=BlcKT4.
What does this mean for Fundi, well Fundi DAO will own some shares in both the businesses and also have some team members in the founding team. Fundi Investors will enjoy some royalties added to the Fundi Tax wallet from both systems, while having access to a ID verification system and a NFT gaming metaverse. Fundi are also guaranteed their own entire planet for the Apes and in the moonverse.games metaverse, which we also feel will be a great benefit to the community.
You can see some examples of the NFTS gaming we will show a sneak peak
Host – Are Fundi Tokens currently supported on Trust Wallet & MetaMask? Is there a website to earn from Liquidity pools? If so, what is the estimated APY?
Guest – Yes you can import our tokens to both MetaMask and Trust wallet, we are a BSC network project only ATM, though we are already building to wax blockchain and NULS and have more networks to reach in the roadmap.
We currently only have 1 token live, our First DAO token FF or Fundi token, we have a completed DAO dapp for FF users to propose and vote in governance for FF. You can find the FF contract address here:
https://bscscan.com/token/0x897611baba794d22d0a10f4c60a136baf298128d.
FF can also be deposited to liquidity pools to receive a reward income. All of this is possible on the Dodo platform. First you have to import the FF token and purchase some, you can do this here:
https://app.dodoex.io/exchange/BUSD-FF?network=bsc-mainnet
Once you have FF you can create LP here:
https://app.dodoex.io/liquidity?poolAddress=0x78f3c868b1cdeb37c256f30c65730f1c06fa5e76&network=bsc
Deposit LP here for a reward income:
https://app.dodoex.io/mining?network=bsc-mainnet&mining=0x631c873038fb4caf65b50842a34e8f98e05cfb96
Compound your rewards into single asset staking here:
https://app.dodoex.io/mining?network=bsc-mainnet&mining=0xaa08b5d4669f49cc007c80471d86f916ed9467c7
The current APY are
LP 1404% APY
Single asset staking is 445% APY.
Host – How do we partake in Fundi Finance? Does holding tokens generate a yield?
Guest – This will evolve with the protocol, but there are several ways to generate yield and earn income on the Fundi platform. Here is a overview of the ecosystem https://1drv.ms/u/s!Ase6OFZREJGOpDdm2hCAuWEhZXJ-?e=boyJtI.
Firstly, the Fundi protocol is designed to reward the DAO token holders for governing the project, holders of FF or FFST will earn passive income from a smart contract tax system coded into every area of the Fundi protocol. Here is some data on the tax system.
The tax smart contracts are designed to evolve with the Fundi Finance system. Each new development will include a tax system smart contract to keep the Fundi Finance economic system flowing for its most influential people, the investing and voting community. Governance voters and liquidity suppliers alike will always have a reason to stay with Fundi Finance: a healthy economy that encourages a diverse front of loyal investors. All pool taxes will be taken from launch, and rewards will be locked in the tax wallet until farming of FF has finished. After this point, a new pool sill opens for FF holders, and prizes will be allocated from the tax wallet. All token sale fees will be sent to the Buy-Back wallet and used to buy back CRA and burn it.
Some Examples
LP Pools
❖ 2.3% tax on total depositing value (collected in depositing LP) ❖ 0.3% tax on the harvest of claimed rewards only (collected in reward token only) ❖ 0.3% tax on withdraw (collected on withdrawing LP)
Single Asset Pools ❖ 0.3% tax on total depositing value (collected in depositing asset) ❖ 0.3% tax on the harvest of claimed rewards only (collected in reward token only) ❖ 2.3% tax on withdrawal of total withdraw value (collected in withdrawing token only)
Token Tax FFST/FF CRA Purchase 1% 1% Sale 3% 5-20% (running in cycles)
The Fundi Finance tax system is a series of smart contract fees taken from services and products in the Fundi ecosystem. For a detailed look at the system, please refer to the flowchart on the previous slide. This system is designed to reward investors for contributing to crucial protocol areas, such as voting or supplying liquidity. All revenue collected under tax smart contracts is re-allocated to the protocol’s investors. The Fundi team receives no direct income from tax wallets, though we may receive rewards as users of the system. We are on a par with other investors. Like many protocols, Fundi Finance’s token system rewards investors who supply liquidity to various ecosystem areas, such as loans and liquidity pools. Part of this system will be live at launch. TAX collected will be locked in a tax wallet while early farming of house tokens proceeds. You can see a overall flow of tax wallet system and how the 2 DAO tokens work here:
Other areas you be able to earn on Fundi:
- Supplying Liquidity to pools
- Single asset staking of many assets including BTC and ETH.
- Investing into fractional shares of real estate.
- Lending liquidity.
Much more one can read our lightpaper here:
https://1drv.ms/b/s!Ase6OFZREJGOpQvZ9vti-Ad54VZt?e=LQlXTe.
Pitch deck here:
https://1drv.ms/b/s!Ase6OFZREJGOpH9jDvLK54ubXq19?e=W2J3jN.
Host – How will NFT vaults and staking pools function? Could you provide us some details on how this works?
Guest – Yes you can read on this in the moonverse.games pitch deck https://1drv.ms/b/s!Ase6OFZREJGOpHJFNT0p8Y3ebvEE?e=BlcKT4
Also check out the flow chart on how early NFT missions and staking works here:
Overall the system is very well designed to release game compatible NFT’s via a DeFi staking system. At launch mooverse.games will release a NFT drop containing 3 sets of packets, common, rare, Ultra Rare. Each pack will contain random NFT’s made from 8 kings, 4 Human kings and 4 Ape kings, a number of units for each king, and a number of utility items such as barracks, spear, shield. All of these NFT’s will be needed to complete missions, in mission users deposit the needed NFT’s and some house tokens to a time lock vault, Once the time is complete the mission is complete and the pool will reward users some house tokens and NEW NFT’s. This will progress to another round and this is phase one. All phases can be read in the pitch deck above.
Host – Where are the best places to keep up with Fundi Finance for news and events?
Guest – Ultimately we have a few channels
Telegram is 24/7 and our main support channel you can find this here:
Our official announcement channel always pumps out the best data that can be found here:
https://t.me/+ZSbEsskvbuFlM2Y8
Other good channels from Fundi:
Twitter: https://twitter.com/FundiFinance
Medium: https://fundifinance.medium.com/
Youtube: Fundi Finance – YouTube
Our website: https://www.fundifinance.com/
Trading channel: Trader FundiFinance — Trading Ideas & Charts — TradingView
Governance Dapp: https://vote.fundifinance.com/#/
Host – Has there been a security audit done on fundi finance? Is there a report we can check out?
Guest – Yes we have had 3 audits to date and all can be checked directly on our Auditors webpage here: https://www.rdauditors.com/audits/ simply scroll down to the Fundi Finance audits and select them, alternatively follow links on our website.
Host – What are some key features that Fundi Finance is working on that you are most excited about moving forward for 2022?
Guest –
- Cross-Chain Real estate launchpad and fractional ownership
- Launch of FFST, USSDID,and moonvers.games.
- Collateral backed loans.
Host – Where can we Buy Fundi Finance Tokens?
Guest – The only place to currently buy is on DODO, here is the link:
https://app.dodoex.io/exchange/BUSD-FF?network=bsc-mainnet
Host – As of now, Fundi Finance tokens are BSC tokens. When will the main network launch?
Guest – We are already live on mainnet BSC via FF our Defi DAO token, and we will be cross chain very soon within a couple months our first bridges will be complete.
Host – Fundi Finance is building its very own smart chain and network?
Guest – No, we are a cross-chain ecosystem and aim to use multiple already established chains. If it so happens later we evolve into our own chain or the investors vote for this, then it will be an option. BUT AS OF NOW NO.
Host – How will this network be unique from other smart chains?
Guest – We are not a smart chain. We are a DAO ecosystem for bridging CeFi and DeFi. Fundi is a platform for real world assets on a digital level. Securities tokens, Digital assets, physical assets and NFT’s all on the blockchain
Host – Fundi Finance is working on cross chain solutions with other smart chains for maximum interoperability. Could you explain to us why Interoperability is so important for the crypto space moving forward? And How some of these cross chain solutions will be beneficial?
Guest – Interoperability is important because it’s the next evolutionary step in human data storage and integration of advanced technology. The coming years will see the end of bureaucracy as internal paperwork systems or outdated computer systems move to blockchain or multiple blockchains. This gives users access to instant autonomous data 24/7, multiple layers of security, and scalable transactions. A user can now assign their right to self sovereign identity and use that on a digital level to perform multiple actions including financial ones. Interoperability is about lightening access, security and scalability, we are only at the beginning of outside industries realizing what benefits this will all be for them. At Fundi we are excited to be part of this progression and one of the four leaders in how using such technology can improve industries outside crypto.
Host – How does the voting work for governance? Is there or will there be a simple User interface to partake?
Guest – You can simply use the DAO governance dapp here:
https://vote.fundifinance.com/#/.
Once connected any entity can propose a governance motion you do not need any token to suggest an idea in FUNDI. However to VOTE on the outcome you require DAO tokens, only by holding the tokens can you direct your power and voice in the project.
VOTE Weight ratio is 1FF = 1 VOTE, max voting power 1000 votes, minimum proposal time is 48 hours.
As soon as a vote finishes work on the outcome is started or authorized immediately, the beauty part is the evolving DAO part, with Fundi investors actually getting to shape and create the DAO, its an ever evolving system, one designed for innovation and diplomacy.
Host – Okay, now for some questions from the crowd!
Spectator 1 – In Blockchain Industry there are 3 core issues: security, scalability and interoperability which will bring competitive advantages to blockchain projects. So, how does “Fundi finance’ will solve these problem?
Guest – Fundi gives all those things to outside industries such as real estate.
Spectator 2 – Do You have a informative material so they can understand your business model? do you plan to pass your product onto the normal – especially non-crypto people?
Guest – Yes we are a bridge to digital world for more familiar investments or industries such as real estate.
Spectator 3 – Hey, every day many projects are launching and they promise growth but after some time they just vanish away!
So how will you sustain yourself in this very competitive environment of cryptocurrency?
Guest – Simply by are creating new avenues for all assets.
Spectator 4 – Will this project be integrated onto the StakeCube protocol?
Guest – I hope so let’s Talk @Z12391
Host – Definitely a real possibility, and could be some great added value to the network.
Spectator 5 – Can you list the outstanding features of “Fundi Finance’ that you think are the strengths that will help “Fundi Finance’ succeed? In the future, will the “FUNDI FINANCE’ token be developed with more utilities?
Guest – I would say Tokenization of physical assets is very big. Self sovereign Identity.
Gaining rewards from your real world assets such as land, your home, holiday home, gold, silver….#
Spectator 6 – Buyback mechanism is a very good mechanism being used by many projects. This mechanism will bring many benefits to your project. Do you plan to add this mechanism to your project?
Guest – Yes the whole system has deflationary measures including buyback and burn. =)
Spectator 7 – How is this project protected against possible whales and scams? What protection system does it use for user funds? In general terms, how do I know that my investment will be totally safe, do you give any security?
Guest – all allocations are locked and the governance is heading to the community.
Spectator 8- Did you consider community feedback/requests during the creation of your product in order to expand on fresh ideas for your project? Many projects fail because the target audience and clients are not understood. So I’d like to know who your ideal consumer is for your product?
Guest – yes and we backed engineered real world problems.
Host – Thanks everyone for taking the time to be here today! We will do our best to get another AMA up soon!