ShoeFy AMA RECAP — 20/09/2021
Thank you to the Cryptowid for participating in Ask Me Anything (AMA) with ShoeFy on September, 20th 2021 at 2pm UTC. This guest star :
Ugyen — Bussines Development of ShoeFy
Before we start the AMA main segments, we really want to know some informations about yourself. Could you do a little introduction for us to know better about you ?
Sure, So to give you a short introduction. My name is Ugyen and I have been in this space for quite some time. I started as a crypto trader. Few profits from my trades got me so into the space that it launched me into the path of constant learning and research. Later i was onboarded to Oddiyana Ventures https://oddiyana.ventures/ as the research analyst. Oddiyana ventures is behind the project ShoeFy incubating it. And that is how i also got involved with ShoeFy https://www.shoefy.io/ in the Business Development.
Q1. Please tell the community what is ShoeFy in detail?
ShoeFy is an innovative decentralized platform that combines Non-Fungible Tokens (NFT) and Fungible Tokens (FT). It is a futuristic NFT project that utilizes cutting-edge DeFi tools to maximize returns. ShoeFy can amplify the NFTs potential by including both farming and staking to generate passive income.
ShoeFy will have two tokens namely, $SHOE(ERC-20), the native Fungible Token and sNFTs (ERC-721) which are randomly generated on-chain. Each NFT is an algorithmically programmed unique digital pair of shoes on the platform.
So basically what we are trying to do is bring the power of NFTs and DeFi together to have better passive income for the users. But this is just the begining..we have much more innovations and exciting plans that we want to implement in our road map.
Q2. What is the background behind ShoeFy Project?
To talk about the background of the project let me talk about the backbones of our project. The project is led by a team of experienced blockchain venture capitalists, creative NFT developers, and top-tier marketing experts spanning from Europe to Canada and onto South Korea & Thailand in SE Asia.
Our team members share common goals and foresee a huge opportunity in the NFT and DeFi market space. In terms of their backgrounds, some of them are founders of credible VC firms as well as marketing experts. Other members have experience in reputable crypto projects and exchanges. Also, we have on-boarded a tech team of superior talent building our platform.
Q3. As we know, every serious project always have their own roadmap. Could you please explain ShoeFy roadmap and also what phase is currently ongoing?
Okay i will share you our road map..
Here is our road map.. and let me explain a bit, We are currently in the second phase of the 3rd quarter in our roadmap, programming the genesis sNFTs and gearing up for $SHOE token IDO. ShoeFy has a long-term vision to innovate and evolve over time. ShoeFy will tap into the different ecosystems of Gaming, Collectibles, and establish a presence in the metaverse, with digital kicks that are unique. Later this will lead to expansion to different other merchandise, partnering with reputable fashion brands.
Q4. We are so curious about $SHOE, could you please tell us about $SHOE its total supply, its features, and where we can buy it?
Like I said our project has two tokens that is, sNFT and $SHOE tokens. sNFTs are the Shoe NFTs and $SHOE is the native token of ShoeFy platform. It is an ERC-20 standard token which has a maximum supply of 100,000,000 $SHOE.
-$SHOE token will be utilized as the native token to add Utility to NFT via staking, farming and LP which generates the passive income.
-$SHOE token will be used for the Governance, DAO.
-$SHOE will also be used as the entry ticket to the ShoeVerse (metaverse of shoefy platform) and at the later stage for incentivizing in the play to earn game such as shoe battles, shoe contests and shoe fashion show.
-$SHOE will be used as the SWAP fee for the NFT SWAP.
-$SHOE token is required to be paid for minting/farming new shoe NFT in the shoeFy platform.
We just closed our private sale 1 and we are now running the private sales 2 and its quickly filling up as well. You can participate in it if you are interested via sending your proposal to firstname.lastname@example.org or from our website here https://www.shoefy.io/ . We will announce the launch of $SHOE tokens in multiple IDO platforms later. Follow our social media outlets to keep track of when and where to buy $SHOE tokens.
🌐 Website (https://www.shoefy.io/)
📧 Telegram (https://t.me/ShoeFy_Official)
🕊 Twitter (https://twitter.com/ShoeFyio)
Ⓜ️ Medium (https://medium.com/@ShoeFy)
🤖 Reddit (https://www.reddit.com/r/ShoeFy/)
Q5. What is ShoeFy strategic plan for the future?
So let me share our future plans in brief…We will not just be limited to digital shoes, but we’ll venture into other digital wearable items. And later as we expand we will be partnering with established global brands and dive into the merchandise as well. But for now, in the near future, we are specifically focusing on developing the best digital shoes which are also wearable in the metaverse. ShoeFy will have its own shoeverse in which we have ShoeFy play to earn games.
Our ultimate vision is to upgrade the current status of NFT market with different innovative ideas and also by bringing the power of NFT and DeFi together to give users the best ROI in the cryptocurrency market.
ShoeFy has the potential to tap into so many markets like metaverse, gaming, collectibles, fashion merchandise and more…
The sky is the limit for ShoeFy! So, make sure to join us in this journey!
Q1. From : @Wormz29
It says $SHOE token and sNFT can then be used as liquidity in the #ShoefyVault to farm unique sNFTs. So is there a maximum amount of Tokens that can be staked in the Vault? And are there any #fees for depositing or withdrawing from the vaults?
Yes that’s correct. One of the issues we will be solving is the NFTs illiquid nature. The maximum number of tokens that can be staked will totally depend on the reward we have in stock for the staked tokens. The arithmetic calculation is being taken care of by our developers and it is such that the platform can take care of the the best case scenario demand of our staking and farming tools in the platform. And as you know depositing or withdrawing by nature is a transaction that will incur you some fee. More details will be shared as we evolve.
Join our Telegram Channel to keep yourself updated on the latest announcements: https://t.me/ShoeFy_Official_Announcements
Q2. From : @luckyjem02
A strong community not only brings interesting ideas to the project but also attracts larger partners. So how #ShoeFy planning to build its community? And is there a plan to recruit people with Blockchain experience to the #ShoeFy team?
Strong partnerships, synergy and momentum is what will keep us moving. We keep maintaining our communication and interaction with our community very strongly which helps a lot in engaging our supporters for the growth of our project.We will keep innovating features in our platform and demonstrate real progress and obviously offer attractive rewards programs until the platform goes live.
Also we have just started our ShoeFy loyalty club. It is particularly for the community where they will have access to insight information about our project and also since these club members are the true loyal supporters of ShoeFy, we would really take up their suggestions and their views for the development of the project. We might aswell recruit capable people from the community if they have the right sets of skills and blockchain knowledge.
Q3. From: @Iec_Ghram
All project tokens have a Main Utility and can be used in the real world! So, could you tell us about the significance of tokens in your ecosystem? Explain its utility and real-world applications. & Why should I invest in Your token on a long-term basis?
I can give you 5 ways in which our tokens can give you passive income.
Stake sNFT in the sNFT pool and earn $SHOE
Stake $SHOE in the $SHOE pool and earn $SHOE
Stake $SHOE in the NFT Farm and earn sNFT
Stake sLP Tokens (derived from sNFT pairs) and earn $SHOE
Stake LP Tokens with Option to Buy bNFT LP boosters
ShoeFy’s ecosystem has been developed in such a way that it combines the advantage of NFTs and DeFi in one platform. Till now the NFT market has been only to buy-hold-sell, but ShoeFy is here to give you a chance to put your NFTs to work and earn something for you. We have many more exciting plans which sadly i cannot present it all here due to time constraints. So do join us in our telegram chat to know more. https://t.me/ShoeFy_Official
Q4. From: @kimterbear
#Shoefy just recently announced Loyalty Club and will give away 5 VIP access. Can you tell us what is this VIP access allows us to experience? What loyalty benefits can we receive upon having a VIP access?
Yes we have launched our Loyalty Club just recently. So if you get the VIP access, you will get the following benefits:
✔️ Get the latest insight info before the rest of the community
✔️ Be a part of the decisions we make
✔️ Enjoy unique give-aways
✔️ Get trade signals
✔️ And there will be a lot of mysterious promotions 🤩
From coming week our admins will give reputation points to the community. So invite friends, create content, help new members, be active, share our channel with friends or be an ambassador. You will be rewarded 🔥Collect 50 points and get your access ticket for this secret group. Be the first legend in this exclusive club!
💯 How to win 💯
• Join Shoefy on discord (https://discord.com/invite/vWrsyaw7hB)
• Retweet this message on Twitter (https://twitter.com/ShoeFyio)
• Subscribe on shoefy.io newsletter
(https://www.shoefy.io/)And we will choose a daily winner.This promo is running from the 20th till 25th Sept. So do take a chance.
Q5. From: @Braver4466
Many investors hit and run in the sell and sell session after listing on the first exchange, How did Your project prevent early investors from selling their tokens and what benefits would Your project give them?
The ShoeFy team have spent numerous hours thinking of the ways in which we can make it as fair of a distribution as possible. In order to tackle this large selling pressure by our early investors, ShoeFy has implemented hourly token releases for each of its subsequent rounds.
For example, the seed investors are given the token unlock only 5 hours after the TGE. Like wise the private sale 1 and 2 investors have the unlock after 4 and 3 hours respectively and so on. This strategy has been adopted by our farsighted team members and advisors in order to reduce the selling pressure and gain the organic value in our token price. As our projects gain traction and hit into the market for mass adoption, early supporters and investors will be the biggest winners. So join us when we are just starting rightnow.
Every one here has the chance to be an early supporter!
We have raised the funds quicker than we have forcasted..and for now we are running the private sales round 2.
Q1. What are the attractive features in your project? What is the vision and goals in your project that you want to achieve in 2021 and beyond?
First thing, we have the sNFT staking feature in our platform. The current trend of NFTs is just buy-hold and sell. ShoeFy is here to let the users put the NFTs to work by staking and then earning passive income.
Secondly, ShoeFy have a scheme where, the first user to mint the sNFT and if he sells it in the secondary market, the user will be rewarded with royalties every time the sNFT is being traded in the future. ShoeFy appreciates its early supporters.
Thirdly, we have the LP boosters called bNFTs. So if you purchase these LP boosters, it will multiply your staking rewards by 1.2x, 1.5x or 2x and more depending on the type of boosters you purchased.
For longterm, like i said earlier we have so many plans to venture into all the different markets of metavers, gaming, collectible, fashion merchandise and many more!
Q2. What social network does your community focus on, how do they know about your project? I want to join the community, where can I find it?
We are present on every social network, we will heavily start to advertise our discord as we come closer to launch with the NFTs. In order to fit into the community of NFTs, we will be doing alot of our marketing activities on Discord!
You can keep track of us with all our updates from the links below.
Telegram Official Chat: https://t.me/ShoeFy_Official
Telegram Official Announcement: https://t.me/ShoeFy_Official_Announcements
Q3. At this point, do you think ShoeFy needs an exchange? Or forget it and focus on other activities?
At this point, we are not worried about listing in the exchanges. What we are focusing on is the product development and community growth. We are working round the clock with our developers to come up with the best usable product in the market. Also our marketing team is doing a great job in reaching out to greater audiences and growing our community. If we have these two taken care, which we have, Dexes and the Exchanges will not be a problem for us!
Q4. Is your platform suitable for Crypto beginners? Or does it only appeal to professional users?
Yes ofcourse. this is one thing we have considered right from the start. We will have a very user friendly , easy to use, user interface in our platform. We are targeting the bigger audiences and wider range of audiences including from all walks of life, and that includes the beginners. Believe me, you are going to be surprised with how easy it is to use our platform!
Q5. What if i want to take part in pre-sale? Can you tell me the requirements and How much is minimum buying?
So in order to take part in the pre -sale, you can email to email@example.com or you can go to our website and proceed from there. https://www.shoefy.io/. Or for details you can dm me if you are interested. We are currently in the private sale round 2.
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