AMA RECAP : Crypto Infinity & Vira Lata Finance.
On 25th we had an AMA with Vira Lata Finance. We had with us :
- Shorechapel Whiteditch (@shorechapel)
INTRODUCTION.
Q1 : can you briefly introduce yourself?
ANS : I'm an advertising industry veteran. I now spend my time looking for interesting projects in DeFi because I am convinced that it is the next innovation to transform the world.
I am an early buyer of REAU and I work with the team to make the project all it could be.
Q2: Could you please tell us the details about Vira Lata Finance ?
ANS : Viralata.finance is Brazil's #1 Decentralised Financial Ecosystem.
The objective is to offer an alternative to the centralised means of exchange. We will do this by offering commercial opportunities to SMEs and educating the layperson about crypto.
$REAU is the first token from viralata.finance.
It is a deflationary reflect token.
This means a transaction fee is applied to every transaction.
The fee is 5%.
3% goes to increase the liquidity pool.
2% is distributed to current holders.
The largest holder with more than 50% of supply is 0x00000dead—a wallet used to burn tokens.
Q3 : Can you reveal a little bit about Vira Lata Finance roadmap, what is the next plan to develop ?
ANS :The next step for viralata.finance is to simplify the use of REAU.
Our main metric is adoption. There are already people using REAU for p2p purchases such as 2nd hand electronics & vehicles. There are also merchants such as food stalls and manufacturers already accepting REAU as a means of payment in Brazil.
We are looking to simplify this with REAUpay—a bespoke wallet which will not only make it easier to transact and keep track of your holdings... it will serve as an onramp and offramp from fiat.
Q4 : Why don't we see the identity of the Vira Lata team on the homepage, how many people are currently working, and why are they anonymous?
ANS :Anon teams are a part of DeFi. I personally think it's great, it separates the work someone does from their identity and destroys preconceptions. You don't know if the team is male or female, black, white, slav, or asian... the point is it doesn't matter.
All that matters is that the product is good.
The team is roughly around 30 people including social media and marketing.
Q5 : As far as I know Brazil is not in the development of cryptocurrencies yet? But why are you particularly prioritizing this area?
ANS :Brazil is the perfect storm for the mainstream adoption of crypto currencies.
It has a long history of troublesome inflation in fiat, paired with government corruption.
The one time that Brazil has managed to control inflation well was in 1994, with the URV, a virtual token.
Technology has advanced since then—and decentralisation is making virtual tokens immune to the corruption of the government.
TWITTER QUESTIONS .
Q1 : What are the benefits of holding your token as long term investment? Can you tell us about the motivation and benefits for investors to keep the your token in the long run? From : @Harlaydk
ANS : I've already mentioned the frictionless staking... You earn REAU just by holding REAU, you don't need to do anything more.
One of the features of REAUpay is to show the APR on just holding.
Other than this—we pride ourselves on actively engaging businesses to create adoption.
REAU isn't a meme coin, it's a currency, albeit currently one with a relatively small use case.
As I have said before, people and businesses are using it, and our #1 priority is to get more people and businesses to use it.
With that use the APR for holding will go up—as it is a % of transaction fees.
More transactions = higher APR.
Q2 : Did you say your team raised $ 1,299.61, what was that money used for? And is it openness and transparency to use? From : @Mokthekai
ANS : Vira-lata translates from Portuguese as "mongrel".
There is a very good backstory behind the naming which I can get into later.
Because of the name (and the backstory) we try and give back as much as we can to animal shelters in Brazil, focusing on ones helping stray dogs... Vira-latas.
The money raised goes to NGOs that work with them.
The total so far is close to $13k, and one of the shelters recently received $1300.
A feature of REAUpay is to make donations easier to do and automatic.
Q3 : The number of security incidents in this market keeps increasing , like frauds, hacks and so forth. How could investors ensure the safety of their cryptocurrencies while using your app ? From : @yoriLipB
ANS : The rugpulls and scam tokens are price to pay for innovation—they exist because the barriers to entry have been lowered. This also allows more genuine ideas to flourish.
Viralata.finance is keen on educating the users about DeFi and the risks associated with it. Every investment has risk, what's needed is education for people to see the scams and not participate.
REAUpay will be very simple, and have restrictions on some things, but education is key.
Q4 : Revenue is one of important aspect for all projects to survive and maintain the project/company.Also What is the way to generate profit/revenue of this project? From: @Shakilpk123
ANS :Viralata.finance is a community driven project.
I am an early investor—I have put money into the project because I can see the potential and I am willing to put in work to make that potential a reality.
There are many others like me.
Q5: Regulatory factors are very important, especially in terms of global expansion and bridging real business to Defi Space. How has Viralata Finance handled these regulations so far?
From @OutOfRa42490321
ANS :In summary, we haven't.
We believe that the regulations are one of the reasons for a lot of misery people suffer from centralised finance.
We will do the minimum required to make sure we can operate—but the ultimate goal is to provide an alternative, not become part of the archaic financial system.
I'm keen to make sure people understand the genesis of Viralata.finance and the cultural aspect to it.
I don't know if this is the right time, or if there will be questions about it.
The culture is the fundamental aspect to the success of REAU.
LIVE AMA QUESTIONS .
Q1.Community support is one of the biggest aspects of a project’s success. Most projects have programs that interact with their users. Do Vira-lata Finance have any special plans to attract and expand the community and improve the user experience?
ANS :
Viralata.finance was created from a need, unlike most projects that are created and then try to find a space in the market.
In September 2020 the Brazilian Central Bank needed to issue a new 200REAL (fiat) note.
They wanted to appeal to the public, so they created an advertising campaign asking what image should be on the face of the note… Brazil answered with “vira-lata carmelo”.
As I said before, “Vira-lata” is Portuguese for Mongrel… Brazil’s streets are filled with stray mongrel dogs. So it was an obvious and funny choice! There is, however, a deeper layer. There is something called the “vira-lata complex”.
It’s best described by the man who coined it:
“By “Mongrel Complex” I mean the inferiority in which Brazilians put themselves, voluntarily, in comparison to the rest of the world. Brazilians are the reverse Narcissus, who spit in their own image. Here is the truth: we can’t find personal or historical pretexts for self-esteem.” — Nelson Rodrigues
So in effect the people wanted to make the R$200 note their own — the bank decided to put the maned wolf on the note.
A few months later viralata.finance is born. The people’s currency.
Q2. NFT is not just a trend! It is going to rule this decade and innovation has just started. So, with NFT what is your future plan?
ANS :
We plan to integrate NFTs into the Viralata.finance ecosystem the way they are currently used by the likes of DeBeers and other giant brands… a way to prove ownership of real world items. This use case already exists, but only for giant corporations — we want to democratise it.
Q3. What is the structure of this project , is it decentralised or a open sourced protocol where everybody can contribute? If so, how does the governance plan on being handled?
ANS :
Viralata.finance is opensource, as is the entirety of DeFi. That is the point of DeFi.
More so, we are a community driven project — good ideas get implemented.
In terms of governance, we are working on creating a DAO functionally so holders can vote on issues, such as which shelter to donate to next.
Q4 .What is your strategy for building a strong community? Do you agree that the power of the community will lead your project to develop globally? What services do you provide to the community?
ANS :
The community is the project. It’s a feedback loop — the stronger the community — the stronger the project — the stronger the community…
We currently are approaching 50,000 wallets and roughly the same number of telegram users.
Q5. Projects that are not traded on major exchanges remain unnoticed. What do you think about listing the token on the leading exchanges?
ANS :
We have two CEX listing coming on the 27th, even thought the goal of REAU is real world use instead of speculative trading.
CONCLUSION .
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