Thank you to the TwentyOne Crypto Community for participating in Ask Me Anything (AMA) with CFL365 Finance May 26, 2021.

This guest star

1. Mohammed Abbas Kazmi - COO & Co-Founder

Here’s our 56th AMA RECAP.

Introduction

Mohammed Abbas Kazmi

We are a team of passionate Traders and have been there in the Crypto Space for more than 5 years.
Our team includes members from Leading Blockchain firms and CeFi Exchanges like Crypto APIs, Okex, Coin DCX, Nuo Network and other prominent firms in the DeFi Ecosystem.
We have been a part of nearly 11+ DeFi projects that have a combined TVL of $50 Million USD

Q1. Starting with the very basics, can you provide a simple description CFL365.Finance for our Community? Where did you get the idea for the name “CFL365.Finance”?

Mohammed Abbas Kazmi

Well, CFL Stands for Crypto Fantasy League and 365 signifies the number of days in a year, as unlike the Traditional Finance, Crypto Ecosystem is active 24/7 throughout the year.

CFL365.Finance is Decentralized Virtual Marketplace for Stocks and Crypto Trading, where users will be able to participate in skill based trading contests by paying with $CFL tokens.
Once they enter the contests they would be getting virtual league balances which they could use to build their virtual portfolio (crypto and stocks) and depending on their portfolio gains and rankings they would be distributed with the rewards !

Q2. Can you provide a brief introduction to the important features of CFL365.Finance?

Mohammed Abbas Kazmi

For the CFL 365 Finance Platform, we have quite a few features for our Platform Users

Our Token Holders are rewarded in multiple ways that would not only encourage them to buy more but also get rewarded in multiple ways while enaggeing in different leagues on our platform. A few of the broad advantages are
– Game Mining
– Referral Mining
– Getting High APYs for holding CFL Tokens in your wallet (without any lockin period*)
– Option to Convert CFL Tokens to exclusive NFTs via our Partner Platforms and regular intervals.

We are bridging the gap between legacy finance and Crypto Ecosystem wherein users Learn, Simulate and Earn simultaneously

Q3. How do you assure us of the benefits, safety and transparency of CFL365.Finance? How can you be the best solution than any other projects?

Mohammed Abbas Kazmi

Users are what constitute the lifeline of any project and their funds, security, and data privacy is of utmost priority for us.
Our dev team comprises of people who have worked on Smart Contract/Blockchain solutions for some of the top notch indtitutions in the world like JP Morgan Chase, IBM, EY etc.
In fact, we are taking every measure possible to ensure the safety so that there are no loopholes in our application and smart contracts and safe from any malicious attacks.
Additionally, we would be getting our smart contracts audited by the benchmark instituions from the blockchain space and would be testing our systems at regular intervals.
With the use cases mentioned earlier and the chances of multiping their portfolio gains via winning different Trade Leagues on our platform, the Users will surely remained hooked on to different leagues onto our platform.

We have a team of smart contract developers who have a Security Audit backgorund who are building this project

Q4. Let’s discussion about $CFL, can you explain about the tokenomics & use-cases $CFL?

Mohammed Abbas Kazmi

So, for this quarter we are pretty much on track and our objective is to launch the First Version of the product and then conduct the IDO as soon as possible. Ideally in a week’s proximity after launch!
Despite the current market conditions, our investors are quite hyped up and intrugued by our project.

As for our Tokenomics, we have allocated a portion for our Seed, Private, Strategic and Public Sale round for raising our funds.
In fact, we have already closed 90% of pre public sale rounds and have onboarded some of the Top VCs and advisors from the DeFi Ecosystem.

The major portion of the Tokens are allocated for the Ecosystem and Rewards distribution to incentivise our Platform Users !
We a dedicated tranche for Exchange Listings and Partnerships, Advisors, Team and in the end a portion for Reserves.

the Token Utilities would be broadly as follows:
– Game Mining
– Referral Mining
– Getting High APYs for holding CFL Tokens in your wallet (without any lockin period*)
– Option to Convert CFL Tokens to exclusive NFTs via our Partner Platforms and regular intervals.

Q5. What are the major milestones CFL365.Finance achieved so far & what are in future pipeline?

Mohammed Abbas Kazmi

So, for this quarter we are pretty much on track and our objective is to launch the First Version of the product (Web App) and then conduct the IDO as soon as possible. Ideally in a week’s proximity after launch! We are integrating different Data Oracle feeds to ensure seamless experience for our users.

In the coming quarters we have upcoming features like Wallet Integration, Native Mobile Application launches (Androin and iOS), Token Governance Architecture, Token Staking Feature etc.

For Key Updates, we recomemnf you to follow us on our respective Twitter, Telegram and other social channels as well.

QUESTIONS FROM TWITTER

Q1. From : deminfur

I know #CFL365 is launching two secure hardware devices and placing the Decentralized Virtual Marketplace on real world IoT devices. Please tell us what are these devices and these Decentralized Virtual Markets?

Mohammed Abbas Kazmi

We will be launching a Decentralized Application (Dapp) on Binance Smart Chain which will be interoperable and blockchain agonistic as we will be creating bridges between different Blockchain protocols in subsequent quarters ahead. We are not launching anything on IOT devices at the moment.

As Mentioned in our White Paper, our First launch would be in the form of a Webapp wherein users will be able to connect their W3 Wallet like Metamask and purchase our Tokens initially from PancakeSwap, Uniswap and other DEXs to participate in different leagues on our platform.

We subsequently will be launching Android and iOS version for our users in the coming quarters.

The Virtual Hybrid marketplace here signifies the virtual portfolio that you will be able to build once you join our leagues.
Rewards will be distributed proportionally as per your skills and portfolio allocation in these decentralized virtual markets.

Q2. From : Romadel33

The owners of your native $CFL token will be able to create commercial leagues, also participate in leagues they want without limitations, and through this same native token will receive the rewards, what other benefits or permissions offers $CFL? is it viable in other platforms?

Mohammed Abbas Kazmi

Our Token Holders will be rewarded in multiple ways that would not only encourage them to buy more but also utilise the CFL 365 Finance Platform in multiple ways while engaging in different leagues on our platform. A few of the broad advantages are
– Game Mining
– Referral Mining
– Getting High APYs for holding CFL Tokens in your wallet (without any lockin period*)
– Option to Convert CFL Tokens to exclusive NFTs via our Partner Platforms and regular intervals.

We are bridging the gap between legacy finance and Crypto Ecosystem wherein users Learn, Simulate and Earn simultaneously.
The users can polish their trading skills here and also apply what they learned on CFL 365 Finance in actual trade conditions as well.

Q3. From : 3. From : Afran145

This is a great project for the purpose it provides but I would like to ask your project why your project only takes 2.5% for development and marketing is this a pretty low number at Why did you choose such a low starting number? Do you plan to increase it in the future?

Mohammed Abbas Kazmi

We are not sure from which document you have referred this data from.

As per what we have mentioned in our White Paper, we have dedicated a significant portion of our fund utilisation for Product Development, Marketing & PR activities that come along with it. This is what will be the driving momentum for our project and will always be our utmost priority.

Our funds will be subsequently be then utilised for liquidity and listings, DeFi and NFT partnerships, Security Audits, etc.

Q4. From : Zafiyakhan2

You said that the token is a deflationary token, meaning that the supply will be reduced with each transaction that happens. What percentage of the total supply do you plan to burn? And for how long will the burning take place?

Mohammed Abbas Kazmi

We have adopted a unique approach for appreciting the price of $CFL365 Tokens.
After we hit a certain supply of tokens in the ecosystem, we will be wrapping this tokens so that the users will be given a choice to covert them into NFTs and avail exclusive offers from our NFT partners.
These burns will occur at intervals like quarterly, and also on important occasions like Christmas, New Year Eve etc and will continue when we achive an equilibrium between the Daily Active Users, Volume and Token Price and as per our DAO model, the platform users would be free to decide the future plan of action as well which would be most beneficial for everyone inour ecosystem.

Q5. From : Alviraafrin39

COVID 19 has slowed many economies around the world but as a crypto business has it affected you negatively or positively? Secondly, are you still on track to achieve your targets as the road map says??

Mohammed Abbas Kazmi

Covid has indeed affected us all and personally, 2 of our developers contracted this virus (they have recovered now!).

But despite these challenges, for this quarter we are pretty much on track and our objective is to launch the First Version of the product and then conduct the IDO as soon as possible. Ideally in a week’s proximity after launch!
Despite the current market conditions of price correction in the Crypto Markets, our investors are quite hyped up and intrigued by our project and the use cases that it brings.

In fact, we have already closed 90% of pre public sale rounds and have onboarded some of the Top VCs and advisors from the DeFi Ecosystem.
We are achieved more than the quarterly milestones that what we had planned out on our roadmap

QUESTIONS FROM TELEGRAM

Q1. From : MikotoMiyuki

CFL365 Finance is “THE WORLD’S FIRST HYBRID”, how good is it with a similar project? how does CFL365 Finance generate revenue for the platform and investors? Can you explain in detail what benefits it offers? Are there any risks involved in doing this?

Mohammed Abbas Kazmi

There are a few other projects but no of them are doing this for both Crypto and Legacy Finance and none of them are on blockchain.
Our revenue will be driven by charging a nominal fees in the form of $CFL365 tokens for league participation, creation and dispute settlement mechanism.
There are no downside risks while holding our tokens or participating in our leagues.

Q2. From : Eminet001

Considering what is most important in project success
Is it
Community
Token
Security
Partners. ?
Which most crucial and why. ?

Mohammed Abbas Kazmi

The Community is the most important part of our Project and they will be the ones spreading the word and sharing the feedback with us.
Security is of paramount importance and with our team, we will ensure that there are potentially no loopholes that any user can maliciously take advantage of.
Partners do also play an important aspect in terms of bringing the right advisors and stratergizing in taking take the project to the next level.
More than Token Price, its the Token Volume that we all should focus on as it demostrates the confidence and boosts the growth of any DeFi project.

Q3. From : trabuimy

Is your platform suitable for Crypto beginners? Or does it only appeal to professional users?

Mohammed Abbas Kazmi

One of the Primary reasons for developing this project was to create the perfect platform for non crypto natives wherein users can login to our platform and participate in our leagues that simulate real time trading scenarios in which users get to win more than 10x of their portfolio.

The platform aims to polish the skills of both the new comers as well as well seasoned traders to simulate their trades in different leagues on our platform

Q4. From : Jaseka25

For project development, the main priority is to have sufficient funds. Is your team financially able to carry out this project? Do you have a partnership with a venture capital company or an investment company?

Mohammed Abbas Kazmi

We have raised capital for our Pre Public Sale Rounds and are on track to deliver the best User Experience that one can have on our platform.
We have some of the well known VCs from the Blockchain Ecosystem backing us!
Please stay tuned as we will be rolling out the announcements in the coming weeks !

Q5. From : cr7ronaldocristianocr7

English is a popular language. How does your project plan to spread awareness of its project in different countries where English is not good?your GREAT PROJECT have a local community for them to better understand your project?

Mohammed Abbas Kazmi

We are a global decentralized project, with our team spread across USA, Africa, Dubai, India and Asia.
We are actively partnering up with different TG communities that are active in crypto space across different regions where english is not the first language.
We are actively onboarding KOLs and Influencers who have active crypto focussed communities in different languages in EU, APAC, MENA and LATAM region.

In case if you know more such communities, feel free to reach out to us at team@cfl365.finance !

It was a pleasure connecting with you all here on our Platform and addressing quite a few good questions regarding our project.

We will keep sharing about our updates on these channels:

Telegram : https://t.me/cfl365finance

Website : https://www.cfl365.finance/

Telegram Channel : https://t.me/cfl365

Twitter : https://twitter.com/cfl365_finance

Medium : https://medium.com/@cfl365.fin

Reddit : https://www.reddit.com/r/CFL365?utm_medium=android_app&utm_source=share

Thank you for trusting TwentyOne Crypto as the organizer of the event today, hopefully everyone can understand about CFL365 Finance.

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