AMA Recap — Francium
The session of AMA ( Ask Me Anything ) with Francium was conducted on 30th Nov 2021 at 5:30 PM IST (12 PM UTC) and lasted for 1 hour.
ADMIN ROUND
I welcome you on behalf of Crypto players India team, hope you will enjoy today’s AMA session.
Very excited to have you with us.😊
Jonty|Host
Please tell us about yourself and the team working on Francium?
Neon
I am Neon from Francium protocol, I am serving as a community manager.
All the members of team Francium are the earliest users of crypto. We have worked with TOP blockchain and Internet companies. Prior to the development of Francium Protocol, we have well equipped ourselves with blockchain algorithmic research and implementation experience. Based on this sort of experience, a lot of innovative work is being done.
Jonty|Host
Let’s talk about farming pools first, if you want to farm how should you get LP? And how farming with Francium is profitable? Has Francium got any grants?
Neon
All you need to do is deposit a token, such as USDC. Francium’s on-chain smart contract will automatically convert half of the deposited USDC into another token (e.g., SOL), then add these tokens to the relevant DEX to get the LP, and then stake the LP to the mining pool. Francium helps its users to automatically take out their earnings and reinvest them. This allows rapid generation of profit, hence maximizing earnings. Yes, have some grants from Solana and Serum. Users (farmers) borrow assets to increase yields in leveraged yield farming. The principle is simple: if you have more tokens, you will have more returns. It indicates that if you use leverage, your yield will be multiplied. Although you will have to pay interest on the borrowed assets, leveraged yield farming still has a high capital efficiency.
Jonty|Host
Francium’s lending pool is popular for APR, so tell the reason why APR is high in francium’s lending pool?
Neon
Many users wanted to know the reason, that’s true, the APR of lending pools on Francium is higher as compared to most of the other lending protocols, this is due to the fact that the utilization of funds in these pools is mostly high.
Jonty|Host
Could you layout your view on the Solana DeFi landscape today? What are Strengths/ Weaknesses & Opportunities/ Threads? What excites you? Has Francium been Audited?
Neon
I think “high speed and low cost” are the strengths of the DeFi product in Solana. This will bring more Strengths such as higher Network Value. low cost may bring more DeFi users, more users bring more net value.
Francium happened to post an article named “Why Build DeFi on Solana?”. Lots of analysis and opinions have been expressed in this post. Audiences could find this post in francium medium. Solana’s official account has also retweeted this post.
https://francium-defi.medium.com/why-build-defi-on-solana-cc8bc90afdec
Another Strength of Solana DeFi is that there are a lot of traders(SBF, ) in the Solana ecosystem. This would bring more diverse strategies into Solana. And big players in traditional finance have joined this eco. (Jump Trading Pyth ). About the weaknesses, it would be better if there is more DeFi native innovation besides things such as order-book-based exchangers.
TWITTER ROUND
How do you plan to spread awareness about your project in countries/regions where English is not spoken well like Indonesia,Vietnam,India,Bangladesh and Iran, do you have local communities for them to make them better understand about #Francium_Defi project?
Neon
We truly understand the language barrier therefore we have launched regional channels for 6 countries on our discord, where ambassadors could interact with the users in local languages. We have discord channels for India, Turkey, Korea, Japan, Vietnam, and Russia, and with the passage and time, and progress of the project, we’ll add more channels as well.
Our discord link is: https://discord.gg/ZveUs4KjC6
and Telegram: https://t.me/joinchat/zxN7cvrWGmljNDJl
Where can I buy your tokens now, what are your current contracts address and how can I buy them and what are the benefits?
Neon
We haven’t generated a native token, news will be announced through our official channels. Please do follow us on Twitter, discord, and TG.
Does your team consider community feedback or requests during product creation to expand on new ideas for its projects? Many projects fail because they do not understand the target audience and customers. So I want to know who is the ideal consumer for #Francium_Defi products?
Neon
Great question, our community is our strength, we have a strong bonding with our community, anyone of you can go to our discord right now and ask them about the way of interaction and the way we address their concerns. We have optimized many things such as the web and other features upon their request and we’ll keep on doing the same.
COMMUNITY ROUND
TYF
Staking program is very important for
any project, Can i stake your token? Do you have any plan of starting staking program?
Neon
Yeah. Staking is important. And this is what Francium is famous for. But we don’t have a native Token at the moment. Perhaps in future. Stay tunned.😊
Mujeeb
Security is a critical concern for users in any project with growing number of scammers. What level of security can Your project guarantee users? Do you have AUDIT certificate?
Neon
Indeed it is, we are one of the very few DeFi platforms at the moment that have successfully gone through the process of audit. Francium’s smart contract has been audited by two prominent firms CertiK and SlowMist:
https://docs.francium.io/resources/audits.
Kot Koti
Do you have any
1. Telegram Group
2. YouTube channel
3. Tiktok Channel
4. Website
For this project? From where we can learn something? Please share with us link.
Neon
Yes we have 😀 Website: https://francium-protocol.io/
Twitter: https://twitter.com/Francium_Defi
Discord: https://discord.gg/ZveUs4KjC6
Medium: https://francium-defi.medium.com/
Telegram: https://t.me/joinchat/zxN7cvrWGmljNDJl
Philomena
How big and strong is your community? do you have community for non english users?Is your project a local project or a global project ? Can anyone use your ser Francium s from anywhere in the world? Is there any restrictions of using your ser Francium?
Neon
The community is still growing as we are a comparatively new project however we have more than 18k followers on Twitter and 7k+ on discord. Our TVL is around 277M
হায় ভাতিজা
-NFTs is hot trending now, Do you have a play to have NFTs in your platform? If so, can you tell us the plans of your project in NFTs?
IS This Your project only for elite investors, how about others with small funds, is it open to Everyone. Where can I buy your tokens now? What are your current contracts, and how can I buy them and what are the benefits?
Neon
Yes they are in fact we have an activity on Twitter and by participation, you can win NFT. We have a strategy for NFT. Each strategy will be bonded to an NFT to incentivize more community strategies. NFT holders can gain free returns from the corresponding strategy and can trade on strategy markets. for details visit: https://francium-defi.medium.com/announcing-francium-protocol-an-innovative-leveraged-yield-aggregator-built-on-solana-a103acc0cd81
Ahmad
How we can trust this project and believe you are not a scam project?
as many Rug Pulls and exit scams are happening now.
Neon
Yes, we know trust is an important factor. What you can do is to see our audit reports, join our community, spend a little bit and experience it. And later on when you are satisfied you can invest in Francium. We also have a discord channel press where you can see all the news from the well-known resources. I hope it may prove that Francium is legit.😊
Nj
Currently, Binance smart Chain blockchain trending topic and It’s having high transaction speed and cheap gas fees, Are you planning to Moved other blockchain or launch your mainet in the future?
Neon
We are already on the Solana blockchain which is the cheapest and fastest. So you don’t have to pay the high gas fee. Yeah, we are working to move on the main net. Stay tuned for news.❤️
The AMA recorded many great questions from the Crypto Players India community, as well as meticulous answers from our guest Neon from Francium. AMA Concluded at 6:30 pm IST.
