Reflect Finance AMA Recap Together with $DUBS — Community Admin

The AMA Session had 3 Segments:

  • Introduction / Questions from The CryptoChainPh Team
  • Questions from Twitter
  • Live AMA

Segment 1: Introduction / Questions from The CryptoChainPh Team

Ren:
Let's start with the first segment, the questions from CCPH Team.

First question, Can you please introduce yourself to the community and kindly give us an introduction about Reflect Finance?

$Dubs:
Hello everyone! My name is $Dubs and I'm one of the core Community Admins for Reflect Finance. I am excited to be here!

Reflect (RFI) is a yield generating protocol that passively compounds RFI wherever its stored. RFI is a 100% decentralized project, there is no CEO or founder. There was no pre-sale or ICO. It is fully driven by the community.

Done

Ren:
Since it is community-driven, you're doing your job as an admin voluntarily?

$Dubs:
That's right! 🦾😎🤙🏾

Ren:
My next question,

$RFI is listed on Bitmart Exchange yesterday, can we expect another listing in the coming weeks?

$Dubs:
Yes, we are super excited about our listing on Bitmart! With gas fees so expensive we are happy to have a way our community and potential investors can use a Central Exchange like Bitmart for trading and buying RFI. We currently have a trading contest on Bitmart to win up to 2500 RFI.

We are working on other listings as well, we are in the process of a second audit by a Chinese firm in order to meet guidelines for other potential listings. ;)

Done

Ren:
Reflect Finance is a community-driven project, how crucial is the role of the community in the project's success?

$Dubs:
It’s the most important aspect to RFI. We are all volunteers that see the potential of RFI and what it can do for our community and the world. Together, we have established the Reflect Foundation and have funded a treasury that’s worth over $100k in value! That’s how we pay for marketing, audits, listings, contests, and more! Our community is everything! ❤️

Done

Ren:
Next question, Can you share us your TOKENOMICS? What are the usecases of $RFI?

$Dubs:
Reflect works by applying a 1% fee to each transaction and instantly splitting that fee among all holders of the RFI token, immediately reflecting in the holders balance. The total supply is 10M but we have a deflationary aspect as well because one of our holders is what the community calls the “blackhole”. It is a wallet that was seeded with 500k RFI and like any other holder it earns it’s share of the 1% fee so its start accumulating RFI, hence the blackhole. :)

The use cases are boundless but so far it is a superior store of value compared to others. You simply buy, hold, and earn. No staking required, no lockup in a contract that might have security flaws, and no risk of impermanent loss. Buy RFI and let it accumulate in your wallet. :)

Because of the tokenomics other projects have decided to integrate RFI as a liquidity pair. Since RFI increases in number it helps to raise the value of the project that decides to pair with it.

Soon we’ll have staking and another project has decided to make RFI it’s reserve currency. And you’ll be able to lend against RFI!.

This is where it gets interesting. Because RFI earns passively, imagine taking a loan using RFI as collateral and while it sits there it’s still accumulating RFI. So the amount you need to pay back is less than the loan amount and even possibly be paid off with the yield. ;)

Done

Ren:
For my last question,

What achievements has Reflect Finance achieved so far? Can you share us your roadmap for this year?

$Dubs:
For reference RFI is only a 3 month old project.

So far we have hit every step in our roadmap and even delivered a CEX listing way ahead of schedule! A few notable achievements are raising over $100k in value for our treasury, several project integrations, a successful audit by Certik, and a CEX listing on Bitmart! Soon, we’ll have lending and asset backed stable coins. ;)

Here's a graphic of our roadmap

Segment 2: Questions from Twitter

Ren:
Question #1 from @Lunakyeot - Since this is another type of rebase and I saw most of them got exploited and encounter problems in CEX. How can you assured that there will be no problems we will encounter in the future when the trading on Bitmart starts?

$Dubs:
We are working with Bitmart’s tech team to ensure the 1% fee is distributed to all holders.The beauty of RFI, while it does use a rebase function, it can not be gamed like others where the rebase occurs at a certain time. With RFI it is done on every single transaction. Since Bitmart set the precedent of distributing the 1% fee, we are working with other CEXs to agree and implement it as well.

Done

Ren:
Question #2 from @4BracesCP - Gas fee on Ethereum balloons and it becomes unprofitable when it comes yield farming, how will Reflect Finance plans to solve this issue?

$Dubs:
Yeah gas fees are crazy expensive right now huh. 😅

The beauty of RFI compared to other yield farming projects is that RFI is simple. Buy, hold, and earn yield.

Here's a graphic to show the difference

As you can see, RFI is far superior than traditional defi 1.0 projects. 😉

With traditional defi, you need to buy, go to uniswap to provide liquidity, then take the LP token and stake on the project's website. Each one of those stages is $50+ in gas

Then if you want to take it out, you need to unstake, go back to uniswap and unpair the LP, then sell. $50 for each of those steps

Ren:
Question #3 from @ryuuuubtc12 - In how many ways or what are the ways your project generate revenue? What is the revenue model? How it can be beneficial for both investors and for project itself?

$Dubs:
So RFI is decentralized, so the revenue that is generated is for investors and community.

RFI is unique in that it strengthens when combined with other projects. We are building an ecosystem, DEFI 2.0. When you invest in RFI you’re not just investing in a token, you are investing in the community and eco-system.

Here’s an example: When paired with Elevate, RFI’s sister project which the dev of RFI created, you can earn 4 ways of yield.

  1. Fee share on RFI. Passively increases in your LP allocation, unique to RFI and ELE.
  2. Fee share on ELE. Passively increases in your LP allocation, unique to RFI and ELE.
  3. Inflation on ELE. Passively increases in your LP allocation, unique to ELE.
  4. Uniswap fees. Passively increases in your LP allocation.

There’s another project soon to launch called Enreach and they will use RFI as it’s reserve currency and offer staking of RFI/ELE so now you can earn up to 6 ways of yield this has never been seen in DEFI! That’s why we call our ecosystem defi 2.0 :)

  1. Fee share on RFI. Passively increases in your LP allocation, unique to RFI and ELE.
  2. Fee share on ELE. Passively increases in your LP allocation, unique to RFI and ELE.
  3. Inflation on ELE. Passively increases in your LP allocation, unique to ELE.
  4. Uniswap fees. Passively increases in your LP allocation.
  5. NRCH farming tokens. Farming Rewards.
  6. ELE farming tokens. Farming Rewards.

Done

Ren:
Question #4 from @TonyMon253 - Considering that 100% of the total fees collected are distributed between all token holders basically instantly, how do you obtain the funds or resources to keep the development of Reflect Finance platform?

$Dubs:
We have funded the treasury with RFI, so our seed amount of 50k RFI gains yield. Our plan is to never touch the 50K and to only use the yield generated from it. Imagine if communities around the world or non-profits did this, they could have a never ending supply of yield that they can use to further their communities and causes. 🤔

Done

Ren:
Question #5 from @HendriA11938235 - How will the demand for $RFI tokens increase in the future or What steps will you take to increase the demand? May I know how you plan to attract more business partnerships to your project?

$Dubs:
It’s all about volume creation, that’s why we’re partnering with other projects like Elevate and Enreach. We’re getting on CEX’s, what other 3 month old project gets listed on an exchange like Bitmart this fast? 🥳

Also with Enreach and Elevate offering staking and lending. RFI will be locked up creating more and more scarcity which increases the value of the coin.

We are in the works of partnering with many organizations and VCs as well. They see how RFI really changes the game because of the simplicity, safety, and sustainability.

Here’s a graphic for you:

Segment 3: Live AMA

From Abdullah:
RFI is a global yield generating protocol that benefits holders by redistributing a 1% transaction fee to all wallets in proportion to their holdings.

How did you conceive this idea?

How sustainable is the 1% transaction fee redistribution to wallet holders?

$Dubs:
The creator of RFI came up with this idea because of how difficult yield generating projects make it for investors. The 1% fee is taken from every transaction on the network so it is fully sustainable. It is not inflationary,it is actually delfationary because the blackhole earns its share of network fees.

From Allahamdull Vlo:
Nowdays So many Rug Pulls and exit scam happening . How Users can trust #Reflect project and how you are different from others?

$Dubs:
RFI is fully decentralized, the protocol was fully complete on launch. It has been audited by Certik and in progress of a second one by a Chinese firm so we can list on Cex's in that region. RFI has several liquidity pools, including our partner Enreach which will use RFI as it's reserve currency. So rugging is virtually impossible.

From Chop:
Why you choose the Rebase mechanism for your project? How is the Rebase mechanism works in your token?

$Dubs:
Gas is expensive right now and as more projects launch on Ethereum it will only compound the problem. RFI sends you more RFI directly to your wallet without having to stake. RFI has been cloned over 100 times. I think we're on to something. ;)

“Imitation is the sincerest form of flattery that mediocrity can pay to greatness.”- Oscar Wilde.

From Elizabeth Ella:
In 10 words or less, Why does Reflect Finance prefer decentralized exchanges over centralized exchanges?

$Dubs:
Don't have a preference, we want RFI to be accessible! (10 words)

From Shiela:
Since community is the core of RFI how can you encourage the community to be more enaged in the project?

$Dubs:
We recently had an event called #proofoflove where one of our top holders gave away 35,000 RFI for showing why they love RFI. We have events and contests like the Bitmart trading contest. But more importantly by being inclusive and informing the community of the financial potential of RFI, we encourage everyone to donate their time, money, and/or skills. All the graphics, content, articles, and everything we do are done by community members like me. 😉 We have very talented and driven people leading the way, I hope you join us!

End of AMA Session…..

About Reflect (RFI):

RFI is an innovative Ethereum token that re-imagines the concept of DeFI yield generation.

At its core, RFI charges a 1% transaction fee and re-distributes that fee to existing RFI holders instantly and automatically at the time of each transaction.

Unique features of the RFI smart contract allow certain addresses like the Uniswap pool or exchange wallets to be blocked from earning fees.

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