AMA RECAP : Crypto Infinity & Flowcom.
On 14th April we had an AMA with Flowcom. A project with brilliant and renowned owners .
We had with us WAYNE HUANG (Co Founder of Flowcom)
INTRODUCTION .
Q1: Can you give a brief introduction to the FlowCom project?
Ans :Flowcom.io is a project that brings free 5G to users.If you see how Big Tech monetize its Big Data, users who uses a product for free (FB,INSTA) are the product themselves.What inspired me to join the founding team is the principle that rewards should be shared with users who become part of your big data.A sustainable and healthy business in my opinion has to be a 2 way street and I’m very much against exploitation of data.Flowcom allow users to share part of the revenue from merchants/advertisers by swapping their points from viewing ads or answering quizzes to free 5G data packets or FiG tokens. All at no costs to the users.
Q2: How many FiG Tokens will be available for pre-sale?
Ans :Phase 1 of the Fig Presale is completed.We are in phase 2 right now.For each phase, we allocated 5.2M FiG tokens for sale.The current price for phase 2 is 0.58USDT per FiG .The price for phase 3 will be 0.79USDT per FiG.
Please take note that any/ALL unsold tokens in the presale phase will be burnt completely
Q3: Can you show a sketched FlowCom road map?
Ans :I will send in the snapshot, but you can better view them in our white paper. Hang on a moment ladies and gentlemen!
Q4: Right now issuing a token is a rather simple process. However, building the system and ecosystem is the most difficult part. My question is, How will the demand of the token will increase and how will this token use within the ecosystem?
Ans :This is very important, for those who are participating in any projects, please read carefully as there are too many projects out there that fails!
Everyone knows that the price mechanism of any token is built almost solely on supply and demand.
Here are a some very important points in ensuring FiG’s demand:
1. The initial supply is pre-mined
2. Initial supply is relatively low 38.9M
3. Any unsold tokens in presale will be burnt
4. Partnerships (merchants/advertisers) need to purchase FiG to onboard our ecosystem (demand)
5. In countries that we support, users can buy FiG to swap for 5G data if their local ISP charges more expensively for 5G
6. 50% of the revenue of Flowcom will be used to buyback FiG tokens and burnt
7. The external pent-up demand for FiG will grow as the 5G industry rapidly matures
8. Presale participants will have only 30% of their tokens released to them slowly, 1% per hour in the first 30hrs. To prevent any major dump. The rest of the 70% will be released at 1% rate per day.
In short, the total supply of FiG will only go smaller and smaller given the burning and buyback mechanism while the demand is expected to increase as the project matures.
Also, when you use the Flowcom App, you will realize you can operate it 100% with zero knowledge. This is the key for mass adoption. We simplify the UI to the extent that most users won’t even see the technicality of it.
Partnerships with telcos and advertisers are the backbone of our ecosystem. In the longer term, besides onboarding these, we will be aggressively marketing in China. China is one of the leading countries in 5G development, with that, it makes sense to move in that direction for mass adoption.
We believe that only through meaningful use and mass adoption will there be sustainable demand for FiG.
Q5: With the Harsh and Difficulty created by the DEFI Industry today, Do You Have But Effective Ways to Lead Your Project Through Those Difficulties?
Ans :First of all, Flowcom is not a DeFi project.In the Flowcom internal ecosystem, the users form as a base for merchants/advertiser to onboard. The fees that advertisers pays essentially also pay for the user’s free data connection.
Being a light Mobile Virtual Network Operator(MVNO), our revenue not only comes from advertising fees but also through ISPs resale channel.
Right now our users are already exchanging points for free 5G. Very soon, they will be able to use their FiG tokens to make direct purchase through our e-commerce and debit card launch.
With that in mind, it is important to note that Hype or Not, we are not in the game of pumping coins and hype.
We are building the basic foundation for all users to access 5G, and access it cheaply. It is a necessity technology that we are working on.
Without internet, there can be no DeFi no NFTs no blockchain no Telegram. See the importance now?
TWITTER QUESTIONS .
1. I am a professional vulnerability finder on the web, do you think Your system is secure enough from hackers? Does your project have a program that rewards individual vulnerability detection of the system?
form : @tanlongan
Ans :We apply the best security practice to our knowledge to protect our website.However, we acknowledge that there is always a posibility of zero day vulnerability.
Consequently, we have a team of inhouse security specialist to monitor the system round the clock.
For your information, Flowcom is currently using SHA256 military grade security coding for our platform.
We currently dont have a bug bounty though.
2.What will be used for the 9 million USD proceeds from Presale and IDO??
form : @Lopyou54804819
Ans :The funds raised will be allocated to:
1. Marketing: growing of userbase, this is most crucial for mass adaption and most of our existing community members are asking for resources to be deployed for expanding the community
2. Further infrastructure building with Telcos. The costs involved every time we deploy with a new telcos involves GMSC for voice, GGSN for data, HSS/HLR for all the subscriber services, and a billing system. A single deployment with 1 telco easily costs more than $300,000 notwithstanding recurring maintenance costs.
3. Building partnerships with other BSC projects/airlines/airports and merchants. We have an allocated budget for bootstrapping our ecosystem through strong partnerships
It is good to know Flowcom has already set up 8 countries for data exchange prior to this presale. It does shows something about us, doesn’t it?
3.Currently, most investors are only interested in profits at this time, but ignore the long-term benefits. So can you give me some advice on why I should buy and hold token in the long term?
form : @MonLeckc
Ans :It is very normal for people to be purely interested in quick profit. In fact most of the time you see investors in crypto looking at very fast and high short term gains.
There is a saying: “Money is made by sitting not trading.”
CZ of Binance once said, “if you cannot hold, you cannot be rich”
If you look back comparatively, every other main board coins, if you have just purely hold the from 2015….ride out the short term up and downs, you will end up way richer than where you started.
We always emphasize Flowcom is not about building hype, you look deeper into the tech you will see we are building the most fundamental tool for almost everyone who needs internet access.
We are building something that is here for good and here for the long term.
Once you are able to cut through the noises and see the real potential, you would probably be a 2–3 year long term holder.
4.First of all, getting enough funds is a primary goal for the construction of a project. Is your team economically capable of running this project? Do you have enough funding to develop it? Can you tell us how the profit is generated by your project?
form : @banphimco12
Ans :Flowcom started in 2019. We spent more than a year using our own economic resources and tech to build what you see today.
If we are not financially strong to build this project, we would have started our presale back in 2019 or early 2020.
The reason we only did our presale now is to send a clear message across the crypto world; that is we show a current platform that is ALREADY workable with established partners that is totally different from what most ICOs are doing, which is basically just selling dreams.Our revenue stream will start once we go live with the ad view function and we are also committed to using 50% of our revenue to buyback and burn the fig tokens.
I hope the community can see that this is totally different from projects that starts with zero infrastructure, zero use-cases and only ideas in the air.
Our profits are generated from ISP’s revenue sharing as well as advertisers revenue. We are also involved in data analytics and this does provide us with another stream of revenue. Not to forget we will have our own E-commerce platform too and this will further boost our revenue channels
5.How is FiG development going? Can you describe in detail current development efforts, market expansion plans, expected applications, and when will they become commercially available?
form : @QuinnJosephine4
Ans :We are working on getting more telcos onboard. We started off in March supporting 3 countries in terms of allowing users exchange for free data. Right now we have 8 countries that we support.
We are working to add more countries to the list and target to have at least 20 countries by Q4.
Besides telcos integration, the team is also working on the E-commerce marketplace for merchants to directly market their products on the Flowcom app.
We will also see social media functions like chatting being added on to the V2.0 app.
Most importantly, the launch of the hugely anticipated FiG debit card is also in the works.
Please download our app to see for yourself the difference and experience what is coming is version 2.0!
LIVE AMA QUESTIONS .
From MissThy:
Many new projects made a good impression at first but were suddenly abandoned. My question is, how will you manage the project and token to gain a place in the market and become a best token in the blockchain world?
Ans :As I frequently say, you don’t need to be a fortune teller and guess whether Flowcom will abandon the project. You just need to look back and look at our current use-cases, look at our current infrastructure with the telcos in these 8 countries. Do we benefit if we abandon the project? The team has already invested a lot of their own time and money even before the presale. I think this itself sends a VERY CLEAR message to the community.
Projects get abandoned because they can’t finish building or can’t deliver what they promise.
Flowcom today has already delivered working technology and use-cases.
First of all, there is no incentive for us to do a rugpull.
Till date, the team has invested more than $3M USD to build the existing infrastructure, its doesn’t makes sense to throw in $3M before the presale if we wanted to rugpull.
Rug pull projects don’t throw in real money to built real things.
Secondly, we are on BSC. All on ramp and off ramp have to go through Binance. If a rugpull happens, Binance can plug it.
From Criss Cherry Nam:
COVID 19 has slowed many economies around the world but as a crypto business has it affected you negatively or positively? Secondly, are you still on track to achieve your targets as the road map says?
Ans :COVID 19 in fact has helped to propel our growth. You can see during this period, shares of Amazon (cloud services), Zoom, and online giants all increased.More people use the internet today than before the pandemic! And Flowcom is the bridge to the Internet.
From Sen Tong:
Can you share your fundraising situation and how your private and public offering tokens are distributed? And what are the plans for the next IEO? What should we prepare if we want to participate?
Ans:We are doing the presale for the purpose of expansion of our partnerships with telcos. Being already successful in deployment with 8 countries, a successful presale will speed up global adoption as we bring in more telcos from different countries.
That being said, even if the presale is not fully subscribe, we are committed to burning all unsold amounts. This will protect our investors and also ensure further demands as we expand, will reward the early investors who believed in us.
From Vinh King:
Can you list 1–3 killer features of Your Project that makes it ahead of its competitors? What is the competitive advantage your platform has that you feel most confident about?
Ans :
1: we are past the proof of concept. We have something that is already working to show to the community
2: We belong to a very small handful of blockchain portal that actually has a working relationship and actual collaborations with Telcos around the world
3. Our community members are totally supportive of what we do because unlike most platforms, WE DO LISTEN TO THEM.
AMA ENDED …..
INFORMATION :
Upcoming IDO on pancake swap in June!
Flowcom is free to sign up and free to use, users can watch ads to earn tokens and swap it for free 5G data is 8 countries!
You may register an account here:
More Information about FLOWCOM:
Website: https://flowcom.io/
Twitter: https://twitter.com/FiG_FlowCom
Telegram group: https://t.me/FlowCom_Community
Medium: https://fig-flowcom.medium.com/
LinkedIn: https://www.linkedin.com/in/fig-flowcom/
YouTube: https://www.youtube.com/channel/UC7Dt1WP5pQBpsdaJZ0VzCsQ
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🌐 Website (https://flowcom.io/)
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💧 Whitepaper (https://flowcom.io/document/WHITEPAPER.pdf)
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