Recap AMA Totem Finance ( 22/7/2021)

On July 22nd 2021, our community had a chance to welcome ToTem 

This AMA was held by Azcoinvest group – the crypto community in Vietnam, where investors and traders can obtain the lastest news and signals from bot/ admins, as well as discuss and share investment experiences in the crypto space.

AMA

 At this AMA, the Totem directly greeted the community and provided detailed information as well as some key products and future plans.

 Time: 08:00 PM (UTC + 7) on Thursday, July 22nd, 2021

Venue: https://t.me/azcoinvest

Airdrop: 100 USDT for the best questions in the AMA.

Question for Part 1- Totem Finance project overview

Question 1: Mr. Akid Affian, to start today’s AMA, can you give us an introduction about your project?

Totem:Totem Finance is a Next Generation DEX+Yield Farming on fastest blockchain ever- Fantom Opera. Totem Finance is the first exchange in Fantom thats offer the lowest trading fee and a new feature called Harvest Lock-up. In Totem  you can Trade with the lowest swap fee, Earn High APR by Staking and even Earn More! using our Totem Lottery, Initials Totem Offerings.  Our goal is to achieve high returns with our pools and farms without having to over-issue and aiming for the long term by generating new and innovative developments in the DeFi ecosystem. 

All the team have worked in other crypto projects before but we were not satisfied with how  things were doing because those projects were not sustainable over time. That’s why we created Totem Finance, to solve rentability problems for all people in the long term, during all times!

Question 2: In this AMA, Could you please share with us your roadmap in the near future?

Totem:to be fair we dont have quite fixed roadmap its more of to-do-list because we believe that’s how Decentralized Project should be. t’s a to-do list, in no particular order, with no particular timeline. This is how we work: as fast as we can, on the things we can. Pivoting is a way of life.

Our DEX and Yield Farming should be live on early August

     Here our simplified to-do-list

  • Website
  • AMM Dex (Core)
  • Yield Farming (Core)
  • Initial Totem Offerings
  • Totem NFT
  •   Limit Order
  •    Prediction Market

     Check our full to-do-list here

     https://totemfantom.gitbook.io/totemftm/roadmap 

 

Question 3: What are the objectives and goals that you plan to achieve in the Vietnamese market?

Totem:This will also bring Vietnamese investor a new oppoturnity to invest on a new technology , and new oppoturnity to see new project they haven’t see before. We at Totem Finance are currently working hard to increase adoption in South East Asia, and Vietnam is part of them.

Questions for Part 2 – Pre-collected questions from Twitter:

Question 1: In this competitive market, many projects remain half way as they cannot achieve the the project’s roadmap in the long term; how do you plan to make this project sustainable for its development? @eli_fan1407

Totem:In Totem Finance , we believe that transparency is a key part for growth of project. And In Totem Finance we are very transparent about the progress

We Also are currently working with many project as possible to make our Ecosystem-Project more sustainable in the future, With Our new trading-fees model (0.1% per swap) and others features, such as Initial Totem Offerings, Lottery this will attract alot of user and adoption to Fantom

Question 2: As a new project, how can you convince crypto users that your project is potential and competitve compared to others. What are unique features you have that will attract investors? @cpcp0609

Totem:Totem Finance, is built with many professional member that have been on Crypto for very long time. We are also very actively working with Fantom Community , and seeking new partnership, marketing oppoturnity.

Totem Finance also offer Harvest-Lockup Function which is the first in Fantom Opera

Question 3: Do you have any big promotion going or any event? What are your roadmap plans for upcoming events? @crushonminkyu1

Totem:We have new partnership and farm coming soon, with many partnership unveiling. Our Totem token is live now, Farms and DEX should be live on Early August, and we believe that will attract alot of Fantom user and new user

Other features such as Limit Order, NFT will live on Q4

Question 4:Are any audit reports done by sources outside your project? How is the security system of Totem Finance structured to avoid bugs and hacks? @mr_peterson10

Totem:In Totem, security is the first of all

Totem Finance code is forked from very trusted project, and will been reviewed atleast 10x times to make sure no faulty code in our platform. We are also in-contact with rugdoc.io to ensure security and transparency of our project

Question 5: How do you plan to expand your market at different countries where English is not well-spoken? Are there any upcoming features to support these countries? @Ha_Kristen

Totem:Yes we are having quite big plan in Q4 where we are doing alot of Marketing Stuff. We planned to go Marketing in global market such as South East Asia, to do this we are planning to create a community that specialized for this community such as Totem Vietnam Group, Totem Indo Group, Totem India Group, etc. We also working with other project to expand our community to different more country to expand our project even more

PART 3: BEST LIVE QUESTIONS CRYPTOFAMILY GROUP

Question 1: What is total supply of your project? Where we can buy it? Are your plans to focus on market or to grow community?

Totem: Our Initial Supply now is over 250k TOTEM, We have inflationary supply so its make Totem Supply = Infinite. You can currently buy Totem on https://dex.zoocoin.cash/orders/market?inputCurrency=0x31a37aedC0C18AA139e120e1CDC673BbB2063e6f&outputCurrency=0x21be370D5312f44cB42ce377BC9b8a0cEF1A4C83   

Make sure you have FTM on your wallet in order to buy. Yes we have plan to focus on marketing in Q4 , we will make a more twitter campaign and twitter so we can expand Totem to more market.

Question 2: Do you agree that the power of the community will drive your project to global growth?

Totem:That’s why in Totem we are working to building our community so that we can big as big as possible. We plan to create a fun community which people can learn and share their information about Totem, this will create a good ecosystem for our project!

Question 3: What are the main products of Totem Finance ? Does the project have a plan to launch new products in the future?

Totem:Our Main product for Totem Platform is Totem Swap and Totem Farm, our Initial Offerings will offer new project that we have proposed, such as Totem Lending, and even Totem BSC, Totem Polygon . We are planning to go multichain in our Q4, this will bring more adoption and opportunity to new investor.

Question 4: How is Totem Finance developing? How do you retain users and attract new users to your platform?

Totem:Totem Finance believe in order to retain it’s user it need to be competitive and be better than the other competitors. That’s why in Totem we are offering HIGH APR, Lowest Swap fees, Mini-games(coming soon), NFT. This also will help us attract new user from our competition because Totem Finance will offer much more better service than competitors

Question 5: In the crypto field it’s very hard for Projects to Generate Revenue/Profits, Some projects have 10% Dev share(10% from transaction fees taken by the project). Can you explain to us in What way that Totem Finance creates revenue/profits?

Totem:In this new blockchain , there is more challenge such as low liquidity, low user, but that’s okay because Totem teams have already planned everything for this. Totem teams will generate revenue from our Totem Emission 9.09% per block and in the future there will be more revenue stream that Teams can get such as, IDO, NFT Mint, Lottery, etc.

Thanks Mr. Akid Affian and Totem Finance had to a AMA successful with AZ team.

For all of the questions that have not been answered yet, guys feel free to search for more information or ask directly to them on the links provided below:

Thankyou All followed AMA, Wish you have a night dream.
See More Recap AMA : AZ x Mydefipet

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