AMA Recap — XcelDeFi
The session of AMA ( Ask Me Anything ) with XcelDeFi was conducted on 13 April 2022 at 9 PM IST (3:30 PM UTC) and lasted for 1 hour.
ADMIN ROUND
Reema Dahal from XcelDeFi has joined us for this AMA session.
Jonty|Host
Please introduce yourself and the team working on XcelDeFi?
Reema
So my name is Reema Dahal as you can see and I’m the leader of xcellab’s communication department. I’ve been working with xcellab for a year and have been in the crypto field for three years. My passion and life is crypto these days and I'm a part-time degen when it comes to ape-ing into cute nfts
Our founder and CEO, Gyanendra khadka, creator of xcellab ecosystem is an early adopter of bitcoin who’s been working collectively to build the larger use cases for the entire crypto community adding more value to the blockchain ecosystem since 2013.
Our dev team is quite experienced and ensures that the project runs smoothly without any bugs/errors. The most important factor for long-term success is a solid technical foundation which is stronger in our case.
A good marketing team changes the equation for both seasoned and first-time investors. We have a solid marketing team, which makes building trust with our target demographic much easier. We also have an experienced team of UX UI designers, user researchers, graphic designers, and business developers.
So all in all, we have got a great all-round time that’s taking care of our project and an extremely experienced and super talented founder
Jonty|Host
What’s XcelDefi and what makes it unique among other projects?
Reema
So we have this entire ecosystem built up which we like to call as “Xcel Lab ecosystem” that is all Defi inspired and XcelDefi or Xld is the native token of it and it was launched on Binance smart chain
The token accelerates real-time crypto-currency use cases, XcelDefi (XLD) equips cryptocurrency users to make the most of their cryptos.
XcelDefi is working to :
make decentralized finance accessible to all
Build a secure and scalable ecosystem
Incorporate DeFi/Blockchain into Daily Lives
XcelDefi is unique as it is making Defi accessible to all through ease of accessibility and interoperability. It has the biggest mass adoption and real-time use cases. In essence, a community-driven token, XLD, is backed up by the Xcellab ecosystem.
XLD holders can engage, foster, and be a part of a larger crypto community within the hospitality, payment, retail, social networking, and gaming industries. It is a gateway to decentralized finance which explicitly caters to individual users’ needs. So what we are doing is we are building an entire Defi setup whether it be in getting into nfts or getting your trips arranged or hotels booked or even having your crypto wallet, and making it quite all in one place experience for the newbies and everyone
Jonty|Host
Can you tell us a bit more about the Xcellab Ecosystem?Who is the team working behind the XcelDefi Project?
Reema
Xcellab Ecosystem is an umbrella working in the sectors of travel, finance, and e-commerce.
Ever Since its inception in 2016, Xcellab Ecosystem is constantly developing to disrupt the current financial ecosystem, creating platforms that use cryptocurrencies as its fundamental mode of payment.
XcelDefi is the native token of Xcellab Ecosystem as I mentioned before and can be used as a community token to drive token use-cases.
The ecosystem includes :
XcelTrip: A decentralized travel and booking platform that allows users to book over 2.3 million hotels and 450 flights worldwide.
XcelSwap: XcelSwap, a Decentralised Cryptocurrency Exchange built on Binance Smart Chain supports the crypto-community in trading BEP-20 Tokens through the aid of user-fueled liquidity pools. The automated market-making platform allows users to swap tokens without order books, add trading pairs into the liquidity pool and earn LP tokens, earn rewards by farming LP tokens, and use the XcelSwap Cross-Chain Bridge to swap ERC-20 Token for BEP-20 Token, and vice-versa. XcelSwap enables users to keep full custody of their tokens. Users can trade directly from their Wallets and hold full control over their funds.
XcelPay Wallet: A decentralized cryptocurrency wallet app that allows users to trade, swap, and store cryptocurrency on the go. XcelSwap is a non-custodial wallet that offers strong security and useful features to make sending, receiving, and investing in cryptocurrency easy and efficient. The upcoming projects include:
Xcel NFT where users can access XcelNFT by holding XcelDefi.
Gyapu Marketplace where users can buy products online using XcelDefi.
Even if the idea isn’t new, a strong team has a better chance of success than an inexperienced team with a stronger idea. Before making an investment, we always recommend assessing the team behind a blockchain project.
There are several factors that we consider critical for project success, including world-class crypto-economics, governance, and community management.
About the team, I hinted a little already about our founder Gyanendra Khadka who has been in crypto forever, we have got a great marketing team, some amazing young devs, and some amazing businessmen/women who have got great experience. You can find the details if you go and visit our website xcellab.com
Jonty|Host
What can people do to make the most out of the Xcellab Ecosystem?
Reema
People can make most of the Xcellab Ecosystem by investing in XcelDefi tokens and benefit from unparalleled utility and use-cases.
Cryptocurrency without use-cases means nothing and through the Xcellab ecosystem, we are not just driving XLD use cases but driving use cases of other cryptos as well.
Just jotted down these benefits that XLD holders get when they hold it:
Book over 2.3 million hotels and 450+ flights worldwide on XcelTrip
Earn a good return on investment by using XcelDefi for staking, and yield farming on XcelSwap.
Earn LP tokens and get rewarded by farming those LP tokens. Users can earn XcelDefi through Liquidity mining and staking on pools. XcelDefi rewards its community members and investors for participating in liquidity mining programs. Also, XcelDefi Holders can stake XLD tokens on XcelSwap to earn more XLD Tokens!
Get rewarded by participating in XLD regular giveaway/airdrop contests.
Vote to shape the future of XcelSwap
Trade on the go, store and invest in cryptos directly decentralized from XcelPay Wallet. XLD users can maintain more control over their money through personal wallets and trading services like XcelPay Wallet.
All you need to do is be a holder! You get tons of benefits, you may get some rewards in the future whenever we bring some new extension to our ecosystem. We are a rewarding project and we believe in giving back to people who trust in us
Jonty|Host
Can you tell us briefly about your recent partnerships and collaborations? How are they gonna help grow the xcellab ecosystem?
Reema
To fuel crypto adoption across multiple platforms on a daily basis, XcelDefi was listed in leading centralized and decentralized global exchanges.
XLD holders can trade XcelDefi on XT.
, BW Exchange, LATOKEN, COINSBIT, PancakeSwap, 1inch Exchange, BakerySwap, DODO, MDEX, ApeSwap. Track XLD price movements on CoinMarket Cap and CoinGecko.
These are some of the exchanges that we are partnered with for the sake of trading experiences for users so had to mention that
Let’s dive into the strategic partnerships or real-world partnerships
XcelPay has integrated the FIO protocol. The non-custodial wallet has partnered with Guardian and Transak to make it for wallet users to invest in cryptos. Moreover, for better hotel and travel experiences, we are partnered with booking.com, Agoda, etc and there are tons of other partnerships I will talk about later if people want to ask haha. We are also partnered with Ferrum for the staking thing XcelTrip has listed BCH, Ethereum, Bitcoin, Shiba INU, Polygon, Tether, Litecoin, Verge, BNB, XDC, and Dash in its platform enabling cryptocurrency holders to book flights, hotels, and rent cars Apart from this, Xcellab has been featured on leading media platforms like Forbes, Hindustan Times, Cointelegraph, Bloomberg, Bitcoin.com, Yahoo News, Entrepreneur INC, and NASDAQ.
For cryptocurrencies, strategic partnerships have long been a critical component. Strategic partnerships will definitely be critical for cryptocurrency projects to develop at the rate they need to and persuade the rest of the world that they’re big enough and strong enough to be adopted. Partnerships with established companies such as fio, Ferrum network, and, in the coming days, polygon, which has large numbers of users or customers, is a sure-fire approach to increase the number of people who are aware of and can use the xcellab ecosystem.
Perhaps an underrated reason for us entering into a strategic partnership is to combine the resources of companies, or to gain more knowledge and expertise in a particular area. In addition, we intend to reach out to a wide range of geographical places by collaborating with major companies in each of the areas where we plan to launch a project. It’s a lot faster than starting from scratch to build a new community in a new place.
So our goal is to build, get great business brands and establish our name and be accessible to everyone out there
Jonty|Host
Please share what’s going on , coming on and your future plans and roadmap.
Reema
Sure! What we have next is my personal favorite btw
Xcellab will be launching XCELNFT in the second quarter of 2022. It will include a very special collection of the “14 highest peaks of the world”.
By using XcelNFT users can get access to Xcelverse and other exciting events in the future. We are working to push and incorporate digitalization and decentralization in every sphere possible. Our Vision is bigger and better. What’s more? By 2023 we will be launching NFTs in the al-estate and hospitality sectors on XcelTrip. Xcellab will be launching Gyapu Marketplace in India in 2022 the e-commerce platform will enable token holders to shop with cryptocurrency.
In the coming year 2023, Xcel VISA Debit card is on the way. Payment POs for the crypto merchants will also be made available by 2023!
The year 2025 has more to offer. New XLD20 tokens and Defi/DAO platforms will be built by 2023. We are working on the 3rd generation Xcellab protocol with the highest transaction per second and lowest fee. The 3 rd generation protocol will be cross-chain EVM compatible where different ventures will be able to create smart contracts. We are working to make XcelDefi, the native token of Xcellab ecosystem, a token with the largest use-cases and the biggest mass adoption in the crypto space worldwide.
We are not planning for next quarter or end of the quarter or a couple of years only, our vision is long term and we plan to build a brand in the crypto sector that people will remember for ages to come
You may have seen one token leading in one sector and capitalizing on it, we are building extensions to everything! And that’s the future where everyone can access everything crypto-related
TWITTER ROUND
I see that @XcelDefi will Launch XcelNFT. So could you tell us in more detail about #Xcel NFT? Will you have an NFT Market Place where you can buy and sell NFTs? Can the collectibles be auctioned or will be used for gamification features?
Reema
There was a slight hint in the roadmap. We are working on a future extension to our ecosystem and this one includes Xcel Nft. XcelNft would be a part of XcelVerese. As of now, we are planning to deliver XcelNft to our users through whitelisting and open markets. After that, there will be a launch for characters plus collectibles inside the xcelverse, possible integrations with other partner projects, some great names in the nft ecosystem and we will build a whole p2e ecosystem to it so in short, it will be an open-world metaverse game conquering your dream that takes place in the high hills and Himalayas. The detailed information about the Xcelverse and the characters inside will be published openly through our official social media channels at the appropriate time.
So if I am to summarize, we plan to build a play and earn game which means you can come and play and have fun and win possible rewards and all of that goes back to the xcel ecosystem because players would require to buy xcelnft characters to play in the game for those nice juicy rewards. These characters or avatars to be used inside our own metaverse can be only bought initially likely via our own marketplace and might be in xld only which will further boost the price of the main token of the xcel system.
With nfts, you can do literally everything. You can inculcate them into the real estate's purchasings, reward your users by letting them play in xcelverse, let them mint your nfts, and create value for those nfts via tons of practical stuff
Nft sector still needs those experienced people that can bring more of a practical touch into it and that is our plan, so far we have got shoes or sneakers brands coming into nfts, we need real estate or other depts to get into nfts as well And that’s our whole idea for a long long term vision
In your whitepaper, you claim that XcelTrip is reshaping the travel industry as it not only saves customers money, but it also allows them to earn more, yet, the travel industry is a very competitive market, so, how do you ensure the success of XcelTrip? What makes it stand out?
Reema
So for this, you need to understand how the travel industry works!
The travel industry relies upon different companies passing information between one another. For example, travel agents need to pass customer details on to flight companies and hotels, while the personal belongings of travelers are often passed between companies and tracked too. Blockchain can make accessing and storing important information easier and more reliable because responsibility for storing it is shared across the whole network. With this, xceltrip is definitely shaping the travel industry. And it can be potentially used to track luggage, identification services, and secure traceable payments.
Also, With the long-term vision of reshaping the travel industry, we are listing 100+ tokens for booking. By listing your token on XcelTrip, you enable token-holders to make the most of your Token. One can List the token on XcelTrip and leverage its overall appeal. At XcelTrip, we have 2.3 million hotels and 450 airlines that accept payment in cryptos via XcelTrip. At the same time, consumers may now reserve cars in 72 countries using their token! For this, we’ve formed a partnership with Qeeq. This would undoubtedly assist the common population in earning a reasonable income. Also, Xceltrip has partnerships with multinational traveling brands like booking.com, Agoda, Priceline, etc. Financial transactions are, of course, an important aspect of the travel industry, and xceltrip or blockchain technology has the potential to not only simplify but also secure payments.
So yeah we just plan to bring the best travel, hotel, and car experience using the blockchain tech!
COMMUNITY ROUND
It’z Abs
Is your NFT available for buy now? What are the nft marketplaces we can trade? On what blockchain will you launch it🌷
Reema
The pretty unique question as compared to everyone so I choose you haha. We have got nft stuff planned in Q2 2022. You will be able to buy a few of our nfts using xld or if we get a great response the process will turn into getting whitelisted. We have got a lot of big people eyeing those nfts so yes even if you aren’t able to get it you will be able to buy it on the nft marketplace available on the Binance chain! Just be quick and you might get that nft haha in the initial process.
Sea Bear
The common problem that often accours DeFi projects is that smart contract vulnerability can lead to loss of funds, what steps has your projects taken for solve to fix this major problem and prevent such occurrences in the future?
Reema
Nah that won’t be happening with us! The reason behind this is that whenever we plan to aim any staking program or liquidity program, we got reputed partners who do it for us for example partners, when we launch our own contract we always make sure we get it audited 3–5 times, most of our staff is audited by certik at the moment. although this question is repetitive I think it’s important we address a security question
Ahmed Moha
Trust is very important in business, what makes investors, customers and users feel safe when working with your project?
Reema
The trust establishes when you have got consistent utility streaming into your project and that’s our priority always. Our never-ending utility. Other than that, we have got great partnerships in every sector like Ferrum, fio some big names in crypto then we have got booking.com, Priceline, Agoda, etc as traveling partners for our Xcel trip app, we are IATA certified so that legitimizes us
Toàn Đổ Vỏ
Can you explain, which one is your top priority? Security, Product, Partnership, or Token price?
Reema
I think we have got a great team that’s looking in every aspect. We have got devs that are always looking to give a smooth interface for any dapp that we have got. They build the best product that you see. We have got audits always happening so we never lack on security. You have seen our partnerships already so they speak for themselves. Token price is something that we can’t control, that is what the market decides haha. However, with the consistent utility that we are bringing, you may see some great ROI in coming years if u hold xld. Not a financial advice tho haha
Zuân Back
I love your project but still not convince on investing my funds. So can you tell me atleast 3 good reasons why I should invest in project?
Reema
Good, I will give you 4 reasons.
1) Experienced team
2) We have got every extension of defi and plan to add more
3) Roadmap planned until 2025 so consistent utility
4) IRL events happen a lot so come connect with us! We are legitimate as the partnerships we have got already have defined that
Sinofam
Can you share Your opinion about Defi & NFT?What makes your NFTs rate and special?
Reema
Okay, a little biased towards this because someone asked my opinion haha. Anyway, I easily believe like every crypto enthusiast that crypto is the future. When it comes to defi, who doesn’t love passive income? There are so many options in this space and you can choose to opt for any with great ROIs which people of our older generation could have only imagined that such ROIs are possible in a limited matter of time (risky tho but if you are a degen like me, you don’t hesitate but that’s the beauty of defi). With nfts, I believe everything is going to be tokenized in future, most of the stuff nf-tokemized haha! I hold a lot of cute nfts! Recently which I minted was froyoverse and I plan to mint xcelnft next haha
The AMA recorded many great questions from the Crypto Players India community, as well as meticulous answers from our guest Reema Dahal from XcelDeFi. AMA Concluded at 10 pm IST.
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