Hey everyone, welcome to watch the live of AMA co-hosted by HyperPay and Golff. Welcome to join it and be free to ask questions if you have something unclear. We will sum up and answer them in the recap of AMA. Let’s start now!
Host : Wendy Marketing Director of HyperPay
Guest: Alex Golff founder and CEO
Q1:Recently, DeFi market has fluctuated greatly, and many DeFi tokens have been halved or even more over the past few days. Today we get Golff Founder and CEO Alex here to share with us some opinions about pump and down of these tokens.
Alex: Liquidity farming is indeed very popular recently, sundry projects springing up like mushroom , which makes it harder to distinguish good projects from gimmick projects, run-off projects and contact-vulnerability projects. Before participation users has to know the potential risks of the project and funds portion. You can have the major principal invested in projects such as Golff, which is excellent in endorsement / ecological / branding/future development; if you really want to try to use a small amount of funds for high-risk projects to get high rewards, just prepare to bear the risk of losing even your principle; if you can’t decide which to participate for the lack of knowledge and experience, you can also trust a professional smart pool similar to Golff to obtain higher but stable returns.
Q2: Major crypto exchanges continue to hop on the wagon of liquidity staking (mining, farming), introducing lock-in mining models. For example, Binance opened BNB (Binance Coin) staking, Huobi announced the opening of “lock HT/HPT to participate in DeFi liquidity mining”, etc. What’s your opinion on exchanges providing such businesses?
Alex: DeFi is open and transparent and CiFi is speedy and efficient, while DeFi and CeFi are not two sides of finance. They can implement each other and gradually converge in the financial world. There’s no need to choose CeFi or DeFi. To solve the problem, cooperation is a better way. For example, under the strong impact of this wave of DeFi, CeFi has been using DeFi thinking to seek to change the long-term problems of opacity, mistrust and moral hazard in the past.
CeFi can use DeFi to create a more transparent and trustworthy financial platform; CeFi, which has a large stock of users and smooth product experience, can collide with open and free DeFi to create a free, safe, open and efficient financial world. This is also Golff’s vision. This cooperation between Golff and Huobi is a collision between CeFi and DeFi.
Q3: Golff has received great attention from the market as soon as it was launched. Could you please briefly introduce the project and its product planning?
Alex: Golff is positioned as a one-stop crypto bank, and its product form is mainly a DeFi aggregator platform, dedicated to creating a lightweight, open and free financial world. Golff includes four businesses, Fantastic Farm, Earn Collection, Financial Enhancement Insurance and Lighting Lend.
Fantastic Farm is divided into 3 stages. In the first stage, 6 pools will be set up to produce GOF, and users will obtain GOF by staking some popular project tokens. In the second stage, we will upgrade the top three pools with larger staking amount to King Pool, cut back the pools from 6 to 3, so the income of King Pool will increase. The third stage is to encourage users to initiate proposals to open new pools to mine GOF by staking GOF. 95% of GOF is mined through this. There’s no pre-mine, no reservation. Users can obtain GOF in a fair and crystal way.
Golff Earn will automatically provide a list of revenue strategies that are considered to be the best in the current market based on programmatic screening, and will also find cross-protocol arbitrage opportunities to maximize the benefits of assets.
Financial Enhancement will realize the aggregated farm and earn of the underwriting and insurance pool, which allows the insurer to obtain additional income on top of the basic premium income. At the same time, it also allows the insured party to obtain a certain income based on the transfer of risk. The underwriting business scope includes on-chain contracts and on-chain assets, which can underwrite contract security accident risks and asset credit risks.
Golff can aggregate the current mainstream DeFi lending platforms, such as MakerDAO, Compound, Dharma, dYdX, which will greatly expand the underlying assets that can be used for lending, enhance user asset liquidity, and optimize the best interest rate to reduce users cost of borrowing.
Q4: GOF was launched relatively late, so does the current market performance of it meets the expectations of the GOF team?
Alex: The stacked amount exceeded 100 million U.S. dollars within two hours. It was unexpected, but reasonable. It shows that Golff does meet the needs of users. However, we have to admit that current DeFi products still have a lot of pain points, the lack of consideration of user usage habits, network congestion, high handling fees, security issues, etc., which are also problems that Golff wants to solve in the development.
At present, most DeFi products are from the West, which is not very friendly to Eastern users or other users who can’t speak English. Users first need to be proficient in English, know how to use decentralized wallets, and also need to study the operation mechanism of the project and even be able to read and write codes. In fact, the threshold is really high to most crypto users.
The one-stop service provided by Golff can help users solve these problems. Golff did a great effort to try to be easy to use to worldwide users. Compared with other DeFi forms, while Golff prefers to aggregate DeFi product portfolios to optimize revenue, it also continues to innovate product design and mechanisms, allowing users to obtain financial benefits while also having social attributes and game-like experiences, to greatly increase the stickiness of users. There is no doubt that in the direction of Defi, the Ethereum public chain is the best ecologically.
However, the Ethereum public chain also has the problems of high latency and high transaction fees. Golff will use Rollup Layer2 to expand, or the problem can be solved by supporting a public chain with better performance across the chain.
Q5: Could you share with us what measures will GOF take to maintain market performance and attract more users to participate in the future?
Alex: Golff’s token economic model is currently the best on the market:
Token allocation: Institutions account for 5%. Institutional tokens are not distributed at once, but are written into smart contracts and distributed slowly and linearly on a daily basis. 95% of GOF is generated through mining. 500,000 GXCs are mined every week. These GOFs will not only be used to incentivize token stackers in the Farm pool, but will also be used to incentivize the behaviour of providing liquidity for GOF trading pairs in DEXs such as uniswap. This will greatly increase the trading depth of GOF.
Token scenarios: GOF usage scenarios are mainly divided into gaining income and participating in governance. Staking GOF tokens can be used for liquidity staking, while using GOF to provide liquidity on DEX can also get GOF rewards. In addition, as the core governance token, GOF can determine liquidity staking parameters, product iterations, behavioral incentive parameters, token economic model parameters, etc. through staking and voting.
In addition, GOF has a deflationary mechanism and system built-in purchasing ability. Regarding the deflation mechanism, in fact, Golff will use all the profits of the team to buy back GOF in the secondary market and destroy it. The built-in purchasing power of the system refers to that we will convert all the revenues obtained by aggregating other DeFi products into GOF and distribute them to investors through DEX through Vault of Earn Collection. This is the continuous GOF purchasing ability built into the system.
Many liquidity staking teams have found us and hope to cooperate with us and give them the support of Golff’s economic model and community. Our team is very happy to help other Defi projects, giving ecological support in cold start.
Much appreciation for the wonderful sharing from Alex. Anyone who is interested in Liquidity Mining with Golff , just operate as per the following steps:
Step1. Open HyperPay on-chain wallet
Step2. Click DApp and search Golff Farm in Mining list
Step3. Click Golff Farm to know more
Detail:
“DeFi Liquidity Mining Carnival — Golff Session” plans to raise ETH and USDT which is used for the liquidity mining on the Golff platform, while without threshold, gas fee and service fee. The detail is as following:
Fixed Investment
Time: 6pm, 0916–6pm, 0917, 2020 (UTC+8)
Accepted currencies: USDT, GXC
Total subscription amount: 100000USDT, 200000GXC
Expected yield: at most 84% for USDT; at most 200% for GXC
Return currency: GOF
Lock time: 7 days. The staking income settlement will be carried out on September 23. The principal USDT and income GOF will be issued within 1 working day after the settlement.
Note: Due to market change, the final rate is subject to actual settlement
If anyone who is interested in it and desire to gain profits, don’t hesitate to take actions! JUST DO IT NOW!
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Web: https://www.hyperpay.tech/
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