AMA Recap: TheCryptoBlade x Xfinite
Host: 1. First of all please introduce yourself, and share some information about your team, How big is your team right now?
Swaneet Singh: Thanks so much, we have a fairly decent sized team of approximately 50 people and ~25 contractual workers. Most of our team is dedicated to product, tech and blockchain. I come from a predominantly finance / tech background, santosh is our Chief ecosystem officer and comes from a VC and native blockchain background. vikram tanna, our COO comes from a media background and was most recently at discovery
Santosh Yellajosula: I am Santosh, Chief ecosystem officer (CECO) at Xfinite. I come from venture capital and community building backgrounds before moving to crypto in 2016.
Xfinite — a decentralized entertainment ecosystem has a strong team of engineers, product builders and leadership team
Host: 2. Can you please provide some information about the “Xfinite” project and How long you’ve been building this?
Swaneet Singh: We have been building Xfinite for 2.5 years now. Xfinite a blockchain-based solution to ensure transparency and re-establish trust in the digital world. We have built the Xfinite platform around the digital token, XET. The XET serves as the native currency of the Xfinite entertainment ecosystem and functions as a unique value exchange for all our current and future stakeholders including users, brands, influencers and content producers.
Our first dApp, www.mzaalo.com, is a play-to-earn platform but for streaming. It incentivises stakeholders based on our proprietary engagement and tokenises attention and engagement. Rewards earned on the platform can be used across our 600+ partners on our app itself and also for gamified features such as bid and win.
Host: 3. Please introduce the $XET token economic system, and what are the utilities of your token?
Santosh Yellajosula: $XET (Xfinite Entertainment Token) is the native currency of Xfinite ecosystem. As we scale the network $XET also becomes the atomic unit of ownership of the network. The main purposes of $XET are
1) Medium of exchange across content economies built on Xfinite
2) It is used to power the play to earn streaming economy (Mzaalo — our play to earn streaming dapp)
3) Buy NFTs in our ecosystem
(MzaaloNFT — our NFT marketplace)
4) Participate in staking to bootstrap liquidity for the token ( XSPO — Xfinite Stake Pool Offering )
Host: 4. Now would you please tell us more about your project’s milestones and plans for the near future?
Vikram Tanna: Mzaalo premium content catalogue with top Indian celebrities includes 12000 movies, Originals, Quickies, Music and celeb interactions across 12 languages. Our engagement algorithm rewards consumer time & attention. Consumers can redeem the tokens with exciting rewards across 600+ established brands and celebrity experiences.
Celebrities and influencers get access to an additional distribution channel (on top and in collaboration to the existing ones) where they can further monetize their content, monetize their brand in new ways (NFTs ) and create that direct relationship with their fans that everyone will benefit from.
Our decentralised entertainment ecosystem brings alive the concept of content drives commerce with www.mzaalo.com and www.mzaalonft.com
2022 has super exciting plans — Linking $XET to Mzaalo and Mzaalo NFT Marketplace launch will help us drive exponential growth
1. Launched Mzaalo with 6 mn + registered users millions of users
2. XET listing on MEXC (Https://www.mexc.com/exchange/XET_USDT) and BitMart (Https://www.bitmart.com/trade/en?symbol=XET_USDT&layout=basic)
3. 600+ loyalty and reward partners
4. Launch of XET on DEX https://app.tinyman.org/#/pool/add-liquidity?asset_1=283820866&asset_2=226701642
Host: 5. Lastly, Share some information about staking and farming for passive income options? How can long-term investors be benefitted?
Santosh Yellajosula: We started experimenting with staking by launching XSPO — https://xfiniteofficial.medium.com/xspo-xfinite-stake-pool-offering-the-origin-of-progressive-decentralisation-at-xfinite-371129d19a9a
Scaled this experiment by launching initial pools on yieldly. We got amazing response from community. more than 10% of circulating supply is locked into staking on this experiment https://app.yieldly.finance/
From a roadmap perspective — We are going to launching more staking pools as a product and scale it to LP farming on different DEXs across ecosystem
Our initial experiment on LP farming is currently live on Tinyman — an Algorand native DEX. https://app.tinyman.org/#/swap?asset_in=283820866&asset_out=0
11.25% of our $XET total supply is dedicated to all staking efforts. We believe long term supporters of the network deserves to earn the most skin in the game
Also feel free to check out what we are doing with yieldly: https://yieldly.medium.com/akita-lp-pool-is-back-algorands-most-rewarding-defi-continues-3c74729797e
TWITTER QUESTIONS :
6. How secure is your “Xfinite” platform to use? Have you done udits of smart contract? What security measures are adopted from bugs of smart contract and hacking?
Question by Brendon22412678
Swaneet Singh: Great question. We treat security as a priority and we stress test internally several times before launching anything. Any decentralised network faces risk so we treat this as seriously as we can.
Santosh Yellajosula: https://runtimeverification.com/blog/runtime-verification-audits-xet-token-and-its-deployment-script/ Here is the security audit report of our token
We have a fabulous group of blockchain engineers on our side to address security challenges (current and future)
Xfinite is one of the largest projects on Algorand and is supported directly by Algorand team who are among the best teams in the ecosystem to make sure security standards remain top notch
7. Your project has great features. There must be an experienced team behind. Can you tell some about your team and their experiences in the market?
Question by NetBet16
Swaneet Singh: We have some pretty passionate people within our team and one thing to note is that our team tokens are locked in and released over a period of 3 years.
Santosh Yellajosula: Right team to scale the project. Combination of crypto, blockchain, media and finance. Check out more about our advisors here xfinite.io
8. The main reason why most projects fail is because they do not have incentives in place for liquidity providers. How will prevent that from happening on it platform. Hope you’ve come up with various incentives to help incentivize liquidity providers on your platform?
Question by CryptoGrup
Swaneet Singh: Again very good question. We are focused on the quality of our partners as we believe in long term sustainable relationships as opposed to tactical or transactional relationships, we have some great partners who work with us as liquidity providers and are confident about the long term nature of these partners.
This also goes for exchanges we have already listed on and the exchanges we will be listing on in the future.
Our team is geared towards choosing partners who are right for the XET network.
LIVE AMA QUESTIONS :
Q1. Is your NFT available for buy now? What are the nft marketplaces we can trade? On what blockchain will you launch it?
Question by JINGGAA10
Swaneet Singh: Https://www.mzaalonft.com is in beta version. Sure, anyone can use it and we are optimising our pricing strategy. We plan to launch it in the near future!
Q2. Do you have any plans to attract non-crypto investors to join your project? Because the success of a project attracts more investors who haven’t yet entered the crypto world. What are the plans to raise awareness about your project in the non-crypto space.
Question by lucinabratton75
Santosh Yellajosula: We are building for mainstream users and aimed at Mass adoption. Xfinite’s first dapp (www.mzaalo.com) has close to 6Million registered users and the majority are noncrypto native. Our Play to Earn streaming economics design will bring a ton of non crypto native users onto crypto ecosystem through $XET
Q3. What is PROJECT’s revenue model? In which ways do you generate revenue/profit?
Question by Larry_millard
Vikram: We are a decentralised entertainment ecosystem 1) www.mzaalo.com is a gamified entertainment ecosystem with 12000 + movie titles & 600+ reward partners. Our revenue model is advertising, we are an AVOD platform. 2) www.mzaalonft.com (beta version) is a NFT marketplace — we have access to entertainment IPs and are onboarding celebrities & influencers to monetise NFTs
Q4. Can you share your social media links so we can keep ourselves updated?
Question by kala_love
Swaneet Singh: 🌎Website: https://www.xfinite.io/
📳 Discord: https://discord.gg/XKAqdY4b7w
🇬🇧Telegram (English) Community: https://t.me/XfiniteOfficialCommunity
📨 Telegram Announcements: https://t.me/xfiniteofficialnews
💸 Telegram Price Chat: https://t.me/xfinitepricetalk
📱 Instagram: https://www.instagram.com/xfiniteofficial/
Q5. What is your top 3 things for priorities in 2021? Could you share some plans for the upcoming year?
Question by Verona_Heflin_1991
Santosh Yellajosula: 1) XSPO (Bringing all staking initiatives and mechanisms of Xfinite under one umbrella)
2) Consolidating all our NFT initiatives on www.MzaaloNFT.com
3) Implement a progressive decentralization roadmap for community to contribute towards Xfinite ecosystem growth
Host: Thank you so much for the very detailed answers!
AMA is concluded