AMA Recap Crypto Library with CFL365 Finance

                                        

On 06th July 2021, CFL365 Finance conducted an AMA in the Crypto Library Community. Our guest is Mohammed Abbas Kazmi. Lots of questions as usual from the Community about CFL365 Finance progress. The CFL365 Finance team took part in a very interesting AMA session which included introductions, questions from twitter, and a live AMA session with the Crypto Library community. If you missed the AMA in person, read this recap for a deeper insight into CFL365 Finance.

Let’s take a look at the most interesting points of our conversation.

INTRODUCTION
Crypto Library Team : So, before we start the AMA could you please introduce yourself to our community?

Abbas (CFL365 Finance) : Yeah, I am Mohammed Abbas Kazmi, the COO and Co-Founder of CFL365 Finance. I am deeply passionate about Decentralized Finance and Blockchain Technology and believe that our world in the coming decade is going to be driven by Blockchain Technology and its various applications. I have worked at Crypto APIs and as a part of an Incubator have worked with more than 15+ CeFi, DeFi and NFT projects worldwide.
FIRST SEGMENT (HOST)
Crypto Library Team : What is CFL365 Finance? and How is the story behind the CFL365 Finance project creation?

Abbas (CFL365 Finance) : Well, CFL Stands for Crypto Fantasy League and 365 signifies the number of days in a year. Unlike the Traditional Finance which is active only 5 days a week, Crypto Ecosystem is active 24/7 throughout the year and hence the number 365. CFL365.Finance is Decentralized Virtual Marketplace for Stocks and Crypto Trading, where users will be able to participate in skill based trading contests by paying with $CFL tokens. In simple words it is a Trade Gaming Application. We were looking for an application that would be able to simulate our trading strategies with real-time market conditions and since there wasn’t any project doing this, we decided to go ahead and built this platform ourselves.

Crypto Library Team : Could you give us some reason why we have to choose CFL365 Finance than other projects out there?

Abbas (CFL365 Finance) : Our Project is quite unique in the way that we have been bringing together the best elements from both the Legacy Finance and Crypto Finance and building a platform that would reduce the friction for the users in adopting trading techniques which has been reserved to only to seasoned traders around the world. And by doing this, we are bridging the gap between legacy finance and Crypto Ecosystem wherein users Learn, Simulate and Earn simultaneously. The users can polish their trading skills here and also apply what they learned on CFL 365 Finance in actual trade conditions as well in both Crypto and Legacy Finance System.

Crypto Library Team : Please tell us about CFL365 Finance token $CFL! What are the token use-case, distribution, and where we can buy it?

Abbas (CFL365 Finance) : Once the users enter the contests with $CFL Tokens, they would get Virtual League Balances which they could use to build their Virtual Portfolio (crypto and stocks) and depending on these portfolio gains and rankings they would be distributed with the rewards at the end of the contest! The users potentially can multiply their Tokens to 50x depending upon the size of the league. A major portion of the Tokens is allocated to the Ecosystem and the distribution of Rewards to incentivize Users of our Platform! CFL 365 Finance’s Token Utilities in general are as follows:
  • Mining game
  • Reference mining
  • Get High APY for storing CFL Tokens in your wallet (without any lockin period*)
  • Option to Convert CFL Tokens to NFTs exclusively through our Partner Platforms and periodically.
This utility is sure to attract and engage users on our platform in the long run. The users will be able to buy $CFL Tokens on dexes such as Pancakeswap, Uniswap and also on various centralized exchanges as well.

Crypto Library Team : Could you give us some information about your roadmap, your milestones, and also your future plans?

Abbas (CFL365 Finance) : As far as our quarterly milestones are concerned, for this quarter we are pretty much on track and our objective is to launch the First Version of the product (Web App) and then conduct the IDO as soon as possible. Ideally in a week’s proximity after launch! We are integrating different Data Oracle feeds to ensure seamless experience for our users. In the coming quarters we have upcoming features like Wallet Integration, Native Mobile Application launches (Androin and iOS), Token Governance Architecture, Token Staking Feature, partnerships with leading educational institutions like Student Campus ambassador programs around the world to foster crypto education and introduce lottery system architecture as well. We are confident that our team will achieve more than what is stated in our roadmap. For Key Updates, we recommend you to follow us on our following social links:
SECOND SEGMENT (TWITTER)
Crypto Library Team : To be a great platform for both Investors and for it's users Transparency and security is important. Can you tell us some details about your transparency (likes team members) and your security mechanism. Have you already completed the audit of your platform?

Abbas (CFL365 Finance) : All the details including the social links of our complete team is mentioned on our Website and like the DeFi Ecosystem, we believe in 100% transparency and we are always present to address any such issues. Users are what is the lifeline of every project and their funds, security and data privacy is a top priority for us. Our development team consists of people who have worked on Smart Contract / Blockchain solutions for some of the world’s leading institutions such as JP Morgan Chase, IBM, EY etc and our smart contracts are under audit at the moment. In fact, we take every possible step to ensure security so that there are no loopholes in our apps and smart contracts and are safe from any malicious attacks. In addition, we will get our smart contracts audited by the benchmark agency of the blockchain space and will test our system periodically for any loop holes such as rugpulls, and other malicious features.

Crypto Library Team : In your whitepaper, you mention that your first launch would be in the form of a Webapp where users click your W3 wallet on top of the metamast and buy your tokens, initially on pancakeswsp, you could tell us if you plan to switch to other blockchains in the future?

Abbas (CFL365 Finance) : We will be launching a Decentralized Application (Dapp) on Binance Smart Chain which will be interoperable and blockchain agonistic as we will be creating bridges between different Blockchain protocols in subsequent quarters ahead like Matic (Layer 2 Ethereum Protocol) and Polkadot. As Mentioned in our White Paper, our First launch would be in the form of a Webapp wherein users will be able to connect their W3 Wallet like Metamask and purchase our Tokens initially from PancakeSwap, Uniswap and other DEXs to participate in different leagues on our platform. We subsequently will be launching Android and iOS version for our users in the coming quarters.
THIRD SEGMENT (LIVE QUESTIONS) 
Crypto Library Team : Is your project restricted on any regions or anywhere from the globe are allowed?Is your project restricted on any regions or anywhere from the globe are allowed?

Abbas (CFL365 Finance) : We are a global decentralized project, with our team spread across USA, Africa, Dubai, India and Asia. Our project is accesible via dexes, centralised exchanges and metamask irrspective of the location of the users. In fact, We are actively partnering up with different TG communities that are active in crypto space across different regions as well. We are actively onboarding KOLs and Influencers who have active crypto focussed communities in different languages in EU, APAC, MENA and LATAM region. In case if you know more such communities, feel free to reach out to us at team@cfl365.finance !

Crypto Library Team : Do you have any plans to attract non-crypto investors to your project Because it is the success of a project to get more investors who are still not in the crypto world. What are the plans to increase awareness around your in non-crypto space?

Abbas (CFL365 Finance) : One of the Primary reasons for developing this project was to create the perfect platform for non crypto natives wherein users can login to our platform and participate in our leagues that simulate real time trading scenarios in which users get to win more than 10x of their portfolio. The platform aims to polish the skills of both the new comers as well as well seasoned traders to simulate their trades in different leagues on our platform.

Crypto Library Team : Do you have a Token Burning plan to increase Token value and attract Investors to invest?

Abbas (CFL365 Finance) : Token Burn is an important aspect which has been incoporated by many DeFi projects to increase their Token Price by controling their price management. What we at CFL 365 Finance do instead is to provide users with an option to NFTfy their Tokens at regular intervals ie quarterly events, and at important occasions like New year, christmas etc.
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