AMA Recap — POVO Finance.
The session of AMA ( Ask Me Anything ) with POVO Finance was conducted on 21st August 2021 at 6:00 PM IST (12:30 PM UTC) and lasted for 1 hour.
ADMIN ROUND
Jonty|Host
Please tell us about yourself and the team working on POVO Finance?
Elliot|Founder
First of all thanks CPI community for providing such an amazing opportunity to address great people from India and address their doubts. It is our very first AMA interaction. I myself is the owner of $povo I come from a finance background and work with a number of startups in the valley. I have been into crypto since 2012 and see quite an uncertainty in the crypto space. Well, we are a team of 15 people including engineers, marketing & community building team.
Daniel
I myself a solidity developer, working along with 4 members of the team. Including 3 engineering members, 2 members in marketing, 2 graphics designers, 2 content writers and few community moderators.
Of course, not including the project owner which is Mr Elliot himself.
Jonty|Host
What POVO Finance project is about? How it works, Give a detailed introduction.
Daniel
POVO is a frictionless yield & liquidity generation protocol for gaming echo systems that focus on digitalising gaming assets in the form of NFTs.
Simply we are distributing the gaming echo system with the power of NFT and RFI.
Furthermore, we follow, RFI pattern for endless liquidity generation which is achieved by applying 5% tax fee on buying and 7% fee on selling
Speaking of supported games, so for now our primary focused is on Minecraft and we are targeting 131 million of users.
We are creating a NFT marketplace of digital gaming assets for 131 million users and we can not imagine how lucrative it is.
Jonty|Host
Tell us about your staking feature, yield farming and passive income mechanism. What is the APY percentage?
Daniel
We have already launched the Governance & Staking platform with very high APY and sustainable returns like 35X.
We imply these fixed returns by limiting the staking pool to a certain level let's say 2M POVO.
As we are community-driven, we can always change this limit via a governance platform. More can be found on stake.povo.finance.
Jonty|Host
There are 2 offers I guess.
35x or 60x. What about the locking period?
Daniel
Yes, we do have different locking periods on different pools just to make sure of the sustainability of price and high returns.
Let's say 7 days for the first pool and 14 days lock on the second pool which is not live yet though.
Jonty|Host
What is the competitive advantage of POVO?
Who are your competitors and what makes you different from others?
Daniel
Speaking of competitors, I wanted to say we are in direct competition with polkamon, mbox and TLM. Because we are not just a gaming platform like mbox we also focused on yield generation with digital assets (NFTs) like Shovel, Hammer, Axe, Stone Pickaxe and what not. We are completely different as we are combining many powers into one which is the POVO.
We are not reinventing the wheel here just making it better by combining different powers. This is what makes us unique.
Jonty|Host
Could you please provide some progress on your Roadmap and what results POVO has achieved so far? And any upcoming plans for POVO?
Elliot|Founder
Well, if we talk about roadmap progress we have achieved a lot not only in the way of marketing but also development. $Povo staking platform is ready which offers impressive DPY as we already discussed. Moreover, $povo team believed in power sharing and strengthening the community. To make such promises our community can create proposals on a governance platform which is ready to go live. RFI is another feature which provides reward on holding in $Povo tokens. We are partnering with artists, influencers from different spaces to integrate their work on blockchain.
Daniel
We have already achieved a lot for example governance, staking platform both are live. In the pipeline, we have an alpha version of digitalising Minecraft assets into NFT (tradable) and can be used in games. You can always check our GitHub repositories as we believed in transparency but to make sure certain level of quality, some of the repositories are private.
https://github.com/povofinance.
Jonty|Host
Stake POVO to earn POVO.
Jonty|Host
How much return could because of inflation and dump in the price of POVO?
Elliot|Founder
Well, technically yes, however, we came up with first come first serve plans, once the threshold is reached no one can stake their tokens to get the reward.
Only a limited number of people can participate and the pool will be closed after a defined time.
It all depends on how fast tokens going to be staked. We have burning utility in our contract which can encounter inflation, and also buy/selling fee helps to stable price.
What will happens once these pools end? Well, as clearly mentioned in our tokenomics staking pool has 23% of the total tokens supply so once these two pools are finished, we will be switched to standard APY which will give 10425.00% APY until or unless reward tokens end in the staking pool.
Daniel
Most importantly POVO token is deflationary and not like other tokens which inflate every second, instead, POVO deflates every second!
Speaking of dump it is not possible because we have locked all tokens in unicrypt locker. And also giving community members an option to stake with very high APY, so they will not sell either.
TWITTER ROUND
Anhquang1905
- I can’t find any information about your tokenomic, can you give a review about that ? How many tokens will be minted, where will they be allocated, what is the use case & what is the benefit for holding them in long term? Will there any special rights granted to the holder?
Elliot|Founder
Well, our website, whitepaper and medium article is self-explanatory everything about the project is mentioned in detail there. I have attached a file about tokenomics.
Bijajag
What I know is POVO is generating revenue from all NFT deals/sales, blind boxes, game items, NFT creators, advertising, etc., and there are a lot of similar projects.
Do you have any other projects planned?
Well, POVO is very big in itself so our 110% focused is on POVO only. Speaking of partnerships, we are always open and will welcome relevant partners like BerryData and ChainLink.
Anlyk2
Being a gaming platform what are the games POVO is currently supporting? What type of games are you planning to add in the future?
Daniel
In the alpha version, it is Minecraft for sure. However, we are going after strategy games like “Rise of Nation”, Banished, and Civilization.
COMMUNITY ROUND
Habby Energy
Where can I buy your tokens, what is your current contract, and how can I buy them. -What are the advantages, for me buying these tokens?
Daniel
Right now our presale is live where you can buy tokens.
Other than presale, you can buy from pancakeswap. Speaking of advantages, POVO token is itself RFI in nature. So you get more POVO by just holding them in your wallet (without any lock) or if you want to 35X your investment then stake in any of the available staking pool. Here is the link for presale on unicrypt.
https://app.unicrypt.network/amm/pancake-v2/ilo/0x914599A6CACfB9f979Dd24fa68FCC05C180243Bc
Mustafa
Can you tell people the salient features of the project that no other project has? Can you name a few features of the project that are considered the best?
Elliot|Founder
We have list of interesting features about gaming & NFT, please check following attachment.
Chu Trúc Thanh
Do the token holders have right to the participate in the governance of the project? On what kind of decisions can they vote on about the project?
Daniel
Amazing questions, yes as POVO community-driven. Token holders can participate in governance and take any decision they want. Even governance platform is live you can visit here https://governance.povo.finance/
Mr. Bangladesh
While following the your roadmap.. Then I asked myself, What is the next most important priority?
Elliot|Founder
We have achieved Q3 milestone and the first 2 features of Q4 as well, including Cex listing (xt.com) & Partnership with berryData. Next month priority is wallet integration before Q4 start 🙂
Crypto Master
What minecraft is?
Daniel
Minecraft is a sandbox video game developed by the Swedish video game developer Mojang Studios. The game was created by Markus “Notch” Persson in the Java programming language. Following several early private testing versions, it was first made public in May 2009 before fully releasing in November 2011, with Jens Bergensten then taking over development. Minecraft has since been ported to several other platforms and is the best-selling video game of all time, with over 200 million copies sold and 126 million monthly active users as of 2020 -Wikipedia As we speaking, Minecraft has 131 Million users and POVO is targeting all of them.
Jerry
Can you tell us more about the team working on on this to make this successful such as tech team, marketing team, etc?
Daniel
I myself a solidity developer, working along with 4 members of the team. Including 3 engineering members, 2 members in marketing, 2 graphics designers, 2 content writers and few community moderators. Do check our Github https://github.com/povofinance Engineers are working endless nights to make it happen.
Suma
Do you intend to burn tokens in the future to lower your token supply and attract customers to invest on your project?
Elliot|Founder
Yes, we have to burn utility in our contract. In every buy/sell transaction some percentage goes to burning.
All questions are very amazing and astonishing. I request them all to ask them in POVO main group which is https://t.me/povofin
As we have a short time we can not cover everything but everyone is welcome here https://t.me/povofin
Lets join the presale here
https://app.unicrypt.network/amm/pancake-v2/ilo/0x914599A6CACfB9f979Dd24fa68FCC05C180243Bc
Check POVO website https://povo.finance/ for the official contract address.
The AMA recorded many great questions from the Crypto Players India community, as well as meticulous answers from our guests Elliot and Daniel from POVO Finance. AMA Concluded at 7:10 pm IST.
