Recap AMA Gem Capital x Bitlocus
On November 19th 2021, our community organize an amazing AMA session with Bitlocus. (https://bitlocus.com/)Bitlocus offers a different solution as a one-stop shop by allowing traders and investors to onboard FIAT currency onto the platform.
Then, investors can select from a number of options depending on their risk aversion and profit target. Bitlocus then invests the provided funds in the option chosen.
Bitlocus (https://bitlocus.com/) offers a different solution as a one-stop shop by allowing traders and investors to onboard FIAT currency onto the platform.
Then, investors can select from a number of options depending on their risk aversion and profit target. Bitlocus then invests the provided funds in the option chosen.
🏠 AMA Venue: https://t.me/gemcapital999 👈
⏰ Time: 21/11/2021 | 13:00 UTC — 20:00 giờ VN.
🤵 Guest: Mr. Andrius Normantas — CEO & Cofounder of Bitlocus
🏆 Reward Pool: $150
Below are some main points of this AMA:
- Part 1: 6 overview questions
- Part 2: Guests will choose 5 live questions from members and answer directly in Gem Capital group.
PART 1 — PROJECT OVERVIEW
1. Could you please introduce briefly about yourself as well as Bitlocus project?
Glory: Hi everyone, my name is Glory Lucas, the CMO of Bitlocus.com
Bitlocus is a Defi investment platform for FIAT-based users. We call it CeDeFi because we are joining the worlds of CEX and DeFi to provide a solution for FIAT users. FIAT users only need to deposit EUR and they can be able to access all DeFi investment options without directly interacting with them.
Bitlocus already has a CEX feature that has been existing since 2018. Other products in the Bitlocus ecosystem are Payrico ( crypto-friendly banking service and EMI registered in Lithuania, EU) and Ginger Fund which is the liquidity provider of the CEX
2. Can you tell us more about Bitlocus’s features? How exactly we could convert fiat into crypto assets?
Glory: This is a very interesting question.
Currently the process for FIAT users to invest in Defi is very complicated. First they have to look for a CEX to buy maybe Bitcoin, then they have to convert the Bitcoin to another cryptocurrency they want to use to invest in DeFI before they send the cryptocurrency asset to the Defi platform…
All these process comes with fees attached to them.
But with Bitlocus, it’s very direct. All a FIAT user has to do is to deposit their Bitlocus account with EUR or USD and they select any defi option they want to invest in and just click on invest. They don’t need to have cryptocurrency or convert their EUR to cryptocurrency. And guess what?
They only pay a fee of 0.5% during this process. The fees of 0.5% is charged when the FIAT user is trying to deposit FIAT.
So we are providing users with a very cost effective way to access DeFi products without having to own crypto and with less risks.
3. What is the current CeFi and DeFi problem that Bitlocus aim to solve?
Glory: Well the major problems we are trying to solve in DeFi is the ability for FIAT users to access DeFi products without needing to own cryptocurrency.
For CeFi, we are saying, Hey FIAT guys, Traditional financial platforms do not offer you the best yields. In Europe sometimes the yields are negative. So why not put that money in DeFi and also get very good yields without involving yourself in the complicated stuff of crypto e.t.c. ?
I wanna add that also in Defi, we are reducing the high fees for FIAT users, we are also helping to mitigate the risks that comes with investing in DeFi
4. About BTL token, what is its utilities in the ecosystem? How could we participate in the token sale?
Glory: BTL token will be built on Terra blockchain as cw20 token, but will immediately be bridged as erc20 and bep20 token for better audience reach and better DeFi space opportunities appropriation.
The total supply is 500M, but the supply will decrease due to our BTL token buyback program were a part of our fees, earned from fiat users, will be used to buy tokens back and then be burned on a quarterly basis making it a deflationary token in the end.
The main utility of the BTL token is to serve for our rewards programs — Liquidity Mining and Guarantee Fund staking which also is fueled by never-ending fees from fiat users (it is not just temporary and synthetical rewards allocation from the supply, it will always be in circulation and will help us incentivize BTL holders for a long time.
As regards how to participate in sales,
Currently the Private sale is sold out.
However we have an upcoming IDO on Daomaker, Terraformer and Gates.io
Terraformer is a new launchpad on the Terra Blockchain and they decided that Bitlocus will be the first product they’ll launch for IDO
5. Can you tell us more about your team background and also the investors and backer of Bitlocus?
Glory: The Team is led by Andrius Normantas who is the CEO of Bitlocus
Andrius is an entrepreneur, manager, developer, professional cryptocurrency trader with over 14 years of working experience in the field. He must make major corporate decisions, manage the company’s overall operations and resources, acting as the main point of communication between the team and advisors. He is also the company’s face, ready to spread his knowledge of DeFi to the public.
We also have Arturas Bobinas who is the cofounder and Business Development Manager
Arturas has over 15 years of experience in sales, marketing, e-commerce, and project management. He must identify new business opportunities in both the traditional market and the crypto space, nurture and develop relationships with key customer accounts. In addition, Arturas also provides specialist advice on the products and services BItlocus had to offer.
Then we have me, Glory Lucas who is the CMO for Bitlocus
Glory is an ambitious marketing professional with a passion for business development, marketing, and innovation. His primary role is to facilitate growth and increase sales by developing a comprehensive marketing plan to promote Bitlocus brand recognition and help the organization gain a competitive advantage over the traditional DeFi and CeFi solutions.
We also have Tadas, who is the CTO for Bitlocus
Tadas has over three years of experience in blockchain development. He is responsible for the management of Bitlocus’s research and development (R&D) and technological needs.
Additionally, he improvises Bitlocus technology to enhance products and services that focus on external customers. He is always in touch with the latest IT trends, especially within the blockchain department
The other members of the team are spread across the Technical, Marketing Department.
As regards Investors,
We are backed by the following investors;
Dao Maker (lead investor)
GBV — important investor
Evangelion
Kyros
Double Peak
Dweb3
BasicsCapital
AU21
Wings
Banter
Thank you 🙂
6. Finally, please tell us some milestone Bitlocus has achieved as well as some upcoming hot events that are going to happen in the near future?
Glory: Our milestones for Q4 2021–2022 are listed below:
2021 Q4:
⁃ Private sales (closed, $2.7M).
⁃ IDOs — one on Dao Maker’s platform, other — on Terra-based TerraFormer IDO launchpad and last one Gates.io All will happen at the same time in late November. $0.3M in total public sales
2022 will gradually publish the full product in stages
⁃ Q1 — MVP with preselected options
⁃ Q1-Q4: full packages, custom DeFi investment option, lending, staking, NTF marketplace (with filtered our legit NFTs), farming. All available only in top 10 coins/tokens and stablecoins for the matter of legitimacy and safety.
⁃ Crypto debit card (est Q2)
PART 2 — LIVE QUESTION
1. Do you have any Coin Burn / BuyBack systems or any $Token Burn plans to increase the value of Token & attract Investors to invest?
Glory: Yes actually. The Token Burn/Buyback system is powered by the fees of FIAT users. 25% of fees will be used to buy back tokens and then burn them.
2. 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?
Glory: We have so many incentives to hold our token.
Our Staking program is specifically made to incentivize holders in to holding the BTL token instead of selling. The beautiful part is the value of BTL will hopefully increase and this turns into long term profits for BTL holders.
We also have the liquidity mining program.
The BTL token will be used to pay fees on the Bitlocus CEX. Also holding the BTL token means you have access to certain products in the Bitlocus ecosystem before they get public.
3. I want to support your project, Tell us more about the Ambassador Program and in what ways can we participate ?
Glory: To participate please send me a DM. It’s for a special set of people
4. Southeast Asia is a very vibrant market and there are many new platforms under development. So what do you think about Southeast Asia and do you have plans to grow there?
Glory: Yes Ofcourse we have plans. It’s probably our next target market asides Europe.
We have a community already for Vietnamese users
🇻🇳https://t.me/bitlocusvn
📣https://t.me/bitlocusvn_ann
Click the link above to join
🔸Web: https://bitlocus.com/
🔸Telegram Official Group: https://t.me/bitlocus_official
🔸Twitter: https://twitter.com/bitlocus
🔸Medium: https://medium.com/@bitlocus
