AMA RECAP : Crypto infinity &

Crypto Infinity Community | VN

7 min readMay 21, 2021

Joker | 💥 Community Manager💥:

🗓 AMA Date: 19th May 2021

⏰ Time AMA: 12 PM UTC | 7 PM (GMT +7)

🏚Venue For AMA: @CryptoInfinity_Community_VN

💰Reward Pool: 2 Slot Whitelist

INTRODUCTION.

📝 NiiFi is built on patent-pending scaling technology allowing for instant finality, low cost and predictable gas/transaction fees, interoperability, and composability. NiiFi has been built with the future in mind.

📌 NiiFi will join Polkastarter IDO. An IDO platform that is getting a lot of attention and is currently in the top 1. Information about Top IDO Platforms

Q1: could you explain a little about NiiFi? and what Is make it different From another Project?

Jacobo:

NiiFi is simple, fast, cheap DeFi (swapping and lending) that can be adopted by the crypto industry but also by any other industry; we aim at commercial adoption.

We started working on some early prototypes 2 years ago but more recently we did a PoC in October/November 2020 and since February this year we have been working on the first modules of NiiFi.

SB | Don’t pm me for funds I will block you:
Q2: Can you please provide some information about your Roadmap and how NiiFi is progressing and launching so far?

Jacobo:

The roadmap is well on its way; we will be deploying an on/off ramp next month. Then, we will deploy the first version of the tooling mid summer onto the Ropsten network.

At the end of the summer we will deploy the AMM and Lending tool for all crypto users.

In Q4 we are targeting commercial adoption. We currently have well advanced discussions with different partners.

SB | Don’t pm me for funds I will block you:
Q3: NFT is really trending topic now in the market. So, how do Your project plan to onboard the development of NFTs and how do Your project plan to combine it with DeFi?

Jacobo:

Excellent question :)

We believe that NFT is a nice tool towards commercial adoption of blockchain technology.

NiiFi will allow to easily trade NFT’s through our ecosystem. The whole idea is to make it as easy as possible for any user (crypto and non-crypto user) to be able to acquire, hold and trade their NFT’s.

We also have some concrete discussions with SE Asian partners to enable an NFT marketplace in NiiFi.

SB | Don’t pm me for funds I will block you:
Q4: Nowadays DeFi is changing our relationship with money, investing, credit, and debt. What are the factors that NiiFi could make a difference since there are a lot of projects involved in DeFi? Can you share with us about your NiiFi mechanism?

Jacobo:

It is.

Specially because of the technology we use to scale NiiFi, nahmii, which is a Layer 2 protocol we built:

It will allow us to perform cheap, quick and instant transactions.

And I am done now with Q3 :)

DeFi is great the way is being developing and progressing however it is not easy for non-crypto people to use it.

So, there are a few items on which NiiFi can help. Let me elaborate:

1st, the technology we use, nahmii, which is a L2 that is designed to enable cheap, fast and instant transactions. That alone will help us to build the right ecosystem, NiiFi, allowing users to buy, for example, $2 USD of a coin. That is something you cannot do today on Uniswap because the transaction cost will cost you at least $10…

2nd, is the simplicity of use. It is very difficult for non-crypto people to use DeFi. NiiFi is being designed for non-crypto users in mind so a Bank or a Gaming company to provide DeFi services to their users.

SB | Don’t pm me for funds I will block you:
Q5: Everyday new projects are doing IDO and some of them are unfortunately RUG PULL. How do NiiFi team choose the projects for IDO?

Jacobo:

Unfortunately rug pull is absolutely awful and we are very empathetic to those who have experienced one.

Now, we are a 13 year old company with experience and legacy. We built a system serving 50m users a day.

Most recently we have been involved in Blockchain for 4 years and anyone can see our work. We are a legit team with good solid partners next to us :)

SB | Don’t pm me for funds I will block you:
Q6: Can you tell us, has NiiFi been audited? as we know, smart contacts are vulnerable to hacks, and to carry out an audit costs a lot of money. So can you tell us a little about that, because investors need to know?

Jacobo:

The NiiFi smart contract token has been audited, yes.

And as we build the other parts of the platform, the smart contracts will be audited before taking them to production.

SB | Don’t pm me for funds I will block you:
Q7: What is your long-term vision about the industry which NiiFi project is working at ? Cryptocurrency industry is always thriving, what plans do you have to keep up with technology trends?

Jacobo:

Today’s market having Ethereum Gas prices at 2000, it is a clear example of why the crypto community and DeFi needs NiiFi; cheap, fast and immediate transactions :)

With NiiFi, we can deliver these services to any industry to millions of users.

SB | Don’t pm me for funds I will block you:

Q8: Have you planned to Achieve in 2021? How long do you think it will take to achieve it?

Jacobo:

The most important for us is to build, deploy and commercialise.

Thus, for 2021 our objective is to build NiiFi, deploy it to the market and commercialise it bringing in hundreds of thousands of users first and then millions of users

SB | Don’t pm me for funds I will block you:
Q9: How do you get all investors to know about NiiFi? Do you have a Bonus or a bonus when Someone holds or invests in NiiFi?

Jacobo:

We have solid investors on our side such as DARMA Capital (co-founders of ConsenSys). They will absolutely provide us with as much visibility as it is required.

The main use case of the NiiFi token is today governance. The objective is to have fully decentralised governance over protocol changes, parameters and upgrades for instance.

Furthermore trading fee discounts will be an important way to reward users for their governance. We will of course also explore all other models for similar tokens also based on the adoption we will get from our customers/partners.

Equally for the lending platform, we anticipate preferable lending/borrowing rates and governance functions. A lot of the possible token benefits will be discussed as proposals to be voted on by the community

SB | Don’t pm me for funds I will block you:
Q10: Finally, Can You Tell The Community How Many Partners The NiiFi Project Has? What benefits do they bring to you?

Jacobo:

We have a long list of solid investors and influencers. We are currently locking down some key commercial partners; we will talk about them in the next weeks and months.

Those partners will provide us with liquidity in the platform and distribution to millions of users.

LIVE AMA QUESTIONS.

Fostar RX:
At this moment, which one the most Necessary for your project:
1. Investors
2. Community
3. Market/Exchange
and why?

Jacobo:

2. community is ALWAYS important :)

3. market; the key part of ANY product is the market. You need the market to adopt it and use it. Thankfully we have experience having built products used by 50m users a day by companies like Mozilla, Panasonic, Xiaomi, Telenor, etc

❤️Lover ❤️:
👁️‍🗨️Without proper marketing and capital infusion project dies.
How do you convince us you have adequate marketing power and capital push this project to the top project?,,,

Jacobo:

We work with one of the top Marketing agencies in the crypto space.

We have over 30 influencers on board.

We have a lot coming up :)Maribel Heaney:

What do you think of a public chain with privacy features? Many public chains are considering adding privacy features, such as adding zero-knowledge proofs, will NiiFi develop in this field?

Jacobo:

We can add privacy easily on the new version of nahmii (nahmii 2.0) as it supports generalised smart contracts as it is EVM-compatible :)

ReͥᎥnͣhͫⱥℝd:
Smart contracts are prone to bugs, How efficient and secure is your smart contract. Have you ever been audited through external parties, so we are sure that this project is safe and good for the future of investors?

Jacobo:

We have been audited ,yes.

And yes, software/smart contracts are prone to bugs like any other software :)

nahmii currently holds over $300m of value and has not yet been hacked. Hopefully will not be hacked either.

We do perform security audits

BEWOLF:
In their project, you talk about plug and play — how “easy” should this be made for prospective customers. Plug and play almost sounds like anyone can plug in without warning. Does this imply risks or are prospects just always embedded into your project via a middleman like you or a security system?

Jacobo:

Plug & play is necessary for adoption; you have to lower barriers of entry so any company can leverage your platform and offer it to their users.

We have experience having done it in the past, yes. And no, should not present a security risk.