June 30-th XTRA.Fund held an Ask Me Anything session with the ICOSpeaks team at our telegram chat.
1️⃣ Block 1 – self introduction from today’s speaker
Before we go to the first set of questions, could you please do a short self-intro?
👨💻 Iga Romowska | Senior Performance Marketing Specialist at XTRA.FUND | @igaromowska
2️⃣ Block 2 – project introduction by speakers Q1:Can you introduce XTRA.FUND to the team?
A1: XTRA.FUND is the World’s First DeFi Platform With Price Drop Protection. When a user stakes XTRA.FUND Tokens on the XTRA.FUND Platform, they receive a protection against the drop in token price of up to 90% in token price, which is dependent on the stake length the user chooses and dollar value of the initial stake.
It all is possible thanks to the XTRA PROTECTION, which is managed by a highly secure, self-governing smart contract and consists of an automated algorithm designed to survive any market conditions. In case the token price decreases ($ value), it releases tokens to cover the loss. When token price increases, XTRA PROTECTION replenishes.
Of course there are terms and conditions that apply and it is all on our website: https://www.xtra.fund/
Q2: What is XTRA FUND trying to accomplish in the DeFi platform?
A2: We believe in the common goal of cryptocurrency not only being an industry to participate in but also of it being a safe one. We want to blur the line, between traditional investing and a decentralized one and show that DeFi is just as good and even better especially with our platform
By creating the XTRA CLUB community we want to provide its members with exclusive content, life-changing connections and, most importantly, new ways of achieving financial freedom.
Q3:There are very few types of protection offered by traditional financial products, and none in the cryptocurrency industry at present. How does XTRA PROTECTION protect against this issue?
A3: All protection solutions available in traditional markets are based on the weakest element of any venture – the human being. The man who ultimately decides whether protection is due or not.
That is why we prefer to trust the self-sufficient, uninfluenced by emotions, resistant to external pressure, and free from corruption Smart Contract. It is a revolution, and one of the project’s main elements that excite us.
We, therefore, feel it is our duty to share with the world the news that the crypto market can, and most importantly already do, provide the highest level of protection because it does not rely on people with their weaknesses.
3️⃣ Block 3 – question from ICO Speaks team
Q1:What are the advantages of long-term investing in your token? When it comes to price stability, credibility and technology, what are the XTRA FUND project’s primary advantages?
A1: It is worth mentioning that the development of our core products has already been completed so we do not bear any risk associated with it. It is really important!
One of the advantages of investing in our token comes with staking it for a desired period of time (minimum 10 days); however, the larger benefit is that the longer one stakes our token, the bigger the protection of invested sum and higher APY (if applicable). Thanks to its collaboration with a consortia of established lending companies, XTRA.FUND is able to offer stakers a competitive APY during times when the token gains in price.
XTRA PROTECTION provides investors with price stability, because it mitigates any risk with their investment, when price of the token decreases. The recovered amount of tokens is calculated on the basis of token value in dollars.
The innovation within our project comes from the fact that XTRA PROTECTION is managed by a highly secure smart contract, making it decentralized and inaccessible to anyone, including the XTRA.FUND team! It consists of 80% of the initial number of all tokens in circulation.
Q2: Is XTRA.FUND currently in the IDO, ICO or IEO phase? A2: We are not currently in the pre-IDO, ICO or even IEO phase. We are already live and our token is available on PancakeSwap and our platform is ready, providing all the benefits we are talking about. So when you invest in XTRA.FUND, you don’t have any risk associated with investing in an idea or project that may never get launched. We are a real product that has already been attracting users since December.
Admittedly our marketing is just starting to kick off and we anticipate further rapid growth from now on.
Q3: What are the upcoming plans of XTRA FUND for the next coming months/years? A3: Part of our vision is to create the most robust community of like minded DeFi users in the cryptocurrency world that understand crypto investment can be safe, secure, intuitive and rewarding. This month we are launching a dedicated domain XTRA.CLUB which further develop this focus and community
Very exciting future, that takes the concept even further, is XTRA LAUNCHPAD, which will enable profitable, prescreened businesses to get started in an efficient and community-driven way. Our community will be able to participate in exclusive projects and have special discounts to get involved. Each project will also receive their own version of price protection based on the XTRA PROTECTION feature.
It is a very thrilling time for our team. We are having frequent meetings with institutional investors from all over the world and can see a great interest from their side. It also gives us an insight into how to guide our project for it to truly succeed.
4️⃣ Block 4 – Community Voice. Community asks the questions they are interested in. Q: Could you tell us about your project partners and the partnership strategy it has adopted? A:At this point we can only talk about the types of partnerships that are on the horizon, witthout giving specific names (companies and individuals). 🤫
They are:
– Family offices
– Investment funds
– Pension funds
– Influential people from the world of traditional finance and DeFi
Q:Do the token holders have the right to participate in the governance of the project? What kind of decisions can they vote on about the project? A:Governance is something that we are looking into potentially.
XTRA.FUND stakers gain access to an exclusive XTRA LAUNCHPAD. 🤩
It gives them the opportunity to participate, very early on, in top-tier, thoroughly screened projects that we believe have a strong potential. Additionally, each project will have an XTRA PROTECTION version for their token. The opportunity will also offer special discounts to get involved.
Q: Did you consider community feedback/requests during the creation of your product in order to expand on fresh ideas for your project? Many projects fail because the target audience and clients are not understood. So I’d like to know who your ideal consumer is for your product? A:We are constantly talking with investors and consumers, it gives us an insight into how to guide our project for it to truly succeed!
Q: Is this your project only for elite investors, how about others with small funds, is it open to everyone? A:It is a project open to EVERYONE!
To get the XTRA PROTECTION price drop benefit you have to stake a minimum of 1️⃣ XTRA.FUND token for 🔟 days minimum.
Q: Almost 80% investors have just focused on price of token in short term instead of understanding the real value of the project. Can you tell us on motivations and benefits for investors to hold your token in long term?
A:The larger benefit is that the longer one stakes our token, the bigger the protection of invested sum and higher APY (if applicable). Throughout your staking, your interest rises exponentially. You can stake for up to 15 years. 🔐We recommend to stake for a minimum of 2 years, beacuse of APY.
✔️Here is an example:
When you stake 10,000 XTRA.FUND Token purchased at $1,000 ($0.01/XTRA) for a period of 1,100 days, if the price of the XTRA.FUND Token drops to 70% (to $0.03/XTRA) at the end of the stake you receive the 10,000 XTRA.FUND Token purchased + 23,333 XTRA.FUND Token from the
XTRA PROTECTION. 🤲
In total you will own 33,333 XTRA.FUND Token worth $1000 which is the value you originally bought the XTRA.FUND Token for.
❗️You will not lose your capital even though the price of the Token drops❗️
You can see on our website how the XTRA PROTECTION increases with more time and also how it affects your ROI.
We have a dedicated calculator, take a look: https://www.xtra.fund/
ICOSpeaks hosted an AMA Session with the XTRA.Fund Team. That’s all for today.
