September 06-th held an Ask Me Anything session at ICO Speaks telegram chat. From the GameFi side, there was :
CAO,Chief Architecture Officer @Alex_GameFi ( Ph.D. in Economics
Chief Architect. Served as an executive of a listed company)
Let’s get started!
Q: What is GameFi all about? Give us a little summary.
A: GameFi Protocol (GFP) is the first GameFi mining pool protocol. It aims to build a GameFi aggregation platform to provide users with a low-threshold way to invest in GameFi.
In addition to the basic services of game guilds, GFP also has a variety of innovative revenue models such as Machine gun pool,farming (liquidity mining), and Gamelist(IGO),which provide users with a wealth of value capture methods.
Q: Why did you and your team decide to build GameFi?
A: From March 2021 to June 2021, GameFi ushered in an explosive period. The number of daily active wallets for blockchain games increased from 51,000 to 375,000, an increase of more than 600%, and the number is still expanding.
An excellent GameFi is often a complex game ecosystem, involving different public chains, wallets, single or multiple token systems, game rules, and token economic models (Tokenomics), etc. Professional players need to evaluate GameFi’s security and P2E mode in combination with the above factors, and then profit by investing in digital assets in order to participate in the game. For most ordinary players, they are limited by their own professionalism and limited time, and it is often difficult to compete with professional players in GameFi, so that the input and output are not ideal and this even causes them losses.
Q: Why did you name the project GameFi? and What’s your mission and vision?
A: Gamefi means gamification finance and new gamification business.
We believe that Gamefi, as the entrance to the Metaverse, is an important carrier for humans’ future social, entertainment and even work, and a new digital world in which everyone will participate.
We’ll become a Metaverse aggregate platform and trading platform that everyone can play and earn.😀
Q: Currently, NFT and GameFi is really a big trend with so many projects/products. What makes GameFi different from your competitors?
A: Our team has rich experience in game development and project operation, as well as strong execution;As a Gamefi aggregation platform, we will empower many high-quality Gamefi. At present, this track is still in the blue ocean.
We have received strong support from several listed game companies, and will jointly launch popular Gamefi.👽
Investment institutions and industrial capital provide sufficient funds for project development.🚀
Q: I saw there are some products on your website, like Gswap, Gminer, Gamelist, NFT, etc. Can you introduce more about these products?
A: Gswap: The GFP can help GFI holders to obtain free GFI token rewards through stake GFI or Forth in GSwap; users can also conduct trading, farming (liquidity mining), and launchpools（Free launch of GameFi project)in GSwap.
Gminer: The GFP can help most ordinary player users who lack professionalism and limited time, as well as users who are interested in GameFi, through GMiner to efficiently configure users’ digital assets into different GameFi, and cooperate with professional players to obtain maximum benefits.
Gamelist: The GFP encourages outstanding GameFi teams to launch projects on Gamelist.
NFT: Users can freely trade the Game-NFT assets.
Q: Let’s dive into your tokens $GFI. Can you share with us your tokenomics? And what are some of $GFI use cases?
A: GFI is the driving force behind the GameFi Protocol ecosystem.
1.GFI can stake GFI in GSWAP to get GFI token rewards;
2.GFI can purchase NFT products as well as GPST or MPST at GSWAP, and participate in trading, farming, and launchpools;
3.Users can invest GFI, Forth, ETH, USDT or other tokens in different pools within GMiner to obtain GFI and Game/DeFi tokens;
4.Users can use GFI to buy Lottery/Grab bag in Lottery/Grab bag, and get bonus after winning;
5.GFI will also be used to reward GameFi explorers, GameFi game guilds, code contributors, and bug bounty providers;
Of course, GFI is also an important tool for GameFi Protocol community governance.
GFI mainly achieves deflation through repurchase and burning
Q: Could you share some recent product development in terms of roadmap?
A: Q2 2021
Build a core team
Set the project position
Determine the economic model
The official website
Launch Bug Bounty
Expand GameFi Explorer
Expand GameFi Game Guild
Q: Does GameFi get audited? What measures will GameFi take to prevent and react if serious incidents occur?
A: Certik has completed the audit.
GameFi has established a developer alliance: Reward developers who participate in the GFP ecosystem-GameFi explorers, GameFi professional players, code contributors, bug miners, etc.
The main purpose of the GameFi Protocol Bug Bounty program is to prevent the loss of user funds by focusing on smart contracts, websites and applications.
GameFi will also establish Risk Protection Fund to deal with serious accidents.
Q: DeFi has three areas: DEX, Aggregate Assets, and Lending. What exactly are you focusing on? Do you have plans for others that you haven’t focused on yet?
A: We pay more attention to users in the Gamefi field. We expect that tens of thousands of users will convert from traditional games to chain games in the next two years.
And we will attract users with high-quality games on Gamelist and provide them with DEX, Lending and other services.
Q: Many blockchain projects are on paper only and don’t have any product or have a product with no practical use case. Please let us know what is Coin ‘s current practical product in use? What are your plans for the product to be better in the future?Currently most investors only care about profits at the moment but ignore the long-term benefits. So can you give them some reasons why they should buy and hold your token in the long term?
A: The GameFi Protocol (GFP) is the first GameFi mining pool protocol. The governance token of the GFP is GFI, and its holders spontaneously form a GFP-DAO (decentralized self-regulatory organization) to conduct GameFi Protocol community governance.
The governance token GFI of the GFP is a constant total governance token. The project R&D and operation team only obtains 9% of the total GFI, and it is linearly released in 24 months after the platform is launched 6 months. Like many fair-issued projects, the vast majority of GFI will reward ecological participants of the GFP.
The GFP can help GFI holders to obtain free GFI token rewards through Stake GFI or Forth in GSwap; users can also conduct trading, farming (liquidity mining), and launchpools (free launch of new GameFi projects) in GSwap.
The GFP can help GFI holders to obtain free GFI tokens and Game token (such as SLP (Axie Infinity), SAND (Sandbox)) rewards through stake GFI or Forth in GSwap; users can also use Trading and Farming (liquidity mining), and Launchpools (free launch of the new GameFi project).
The GFP can help most ordinary player users who lack professionalism and have limited time, as well as users who are interested in GameFi, to efficiently configure users’ digital assets to enter different GameFi through GMiner, and cooperate with professional players to obtain maximum benefits. GMiner GFI and Game tokens (such as SLP (Axie Infinity), SAND (Sandbox)) will be used to distribute revenue to users; at the same time, users will be configured to hedge the systemic risks of the market by configuring users’ digital assets to stable DeFi funds. GMiner distributes revenue to users through DeFi tokens; the allocation ratio between GameFi and DeFi is dynamically adjusted according to market conditions. With the gradual progress of the project, we will further map GMiner with standardized hashrate coins (ST) to tokenize GMiner user assets, which can significantly improve the liquidity of GMiner user assets.
The GFP agreement encourages outstanding GameFi teams to launch projects on Gamelist.
The GFP creates a Lottery/Grab bag around the ecology, giving users more fun.
Q: Almost 5/6 of investors are focused purely on the price of token in short term instead of understanding the real value and health of the project. Could you tell us on motivations and benefits for investors to hold your token in long term?
A: GFI mainly achieves deflation through repurchase and burning, which have the following sources:
GMiner fund’s participation in the income of Game/DeFi projects
GSWAP Tx fees
Lottery/Grab bag revenue
Q: Does your project have any cross-chain plans in the future?
A: After achieving a certain scale on the BSC chain, we will cross-chain to other public chains to run projects.
Q: Can anyone use your platform? Or it’s only for professional users??