June 2021 began with amazing news at RFND investment, as our norms, week 1 of every month is FEX staking payout. The follow-up on the payment is the AMA with our CEO (@cryptovato1) to relay the new features and RFND plans for the rest of the year and beyond. Also, the AMA allows the community members to ask questions and look into the project roadmap together.
The AMA started with greetings from Engr.Samest the AMA moderator. As we know RFND investment is all about defending your funds and we know the security of people's funds is highly important
Community Question
EngrSamest:
First,
@cryptovato1 it's been a busy day and week for you and seems like RFND community has missed you... Where have you been? Lol
Cryptovato 1: All around here. Making our living. And how are you guys?
EngrSamest: Pretty good. The community group is on mute at the moment but I answer for them ... We are fine :relaxed:
Will RFND be included in the trading list, such as on coinex/exchanger.bitcoin.com?
Cryptovato 1: Hello, what I can tell you is that RFND will be included in the coming months on SLP Swap. SLP Swap is an exchange where people will be able to directly exchange some SLP tokens. For example, you can exchange directly their Spice for RFND or Refund for Sweet. We are also checking the inclusion of RDR on the SLP Swap so people are able to exchange RDR for RFND. And in the second part of the year, RFND shall be also traded on Komodo DEX.
We have considered the inclusion of Bitcoin on FEX, however, the fees may be a problem for it when I reviewed it with our assessors and it would be possible to have Bitcoin options only on Quarter payouts for the Diamond Level, however not many of them were interested.
EngrSamest: Amazing. I can see some of the reasons you have been away... Working underground that's great info. Thanks for this response
We move on
2. When Rfnd token list in other markets like CMC
Cryptovato 1: RFND will be listed on CMC and Coingecko, once it is listed on their indexed exchange. This is something we shall achieve by 2022.
We have to consider criteria of:
a) the fees
b) the trading volume
c) country where the exchange is and their conditions.
3. Please describe the difference between RFND & RDR
Cryptovato 1: RFND is a token which is basically producing staking rewards. It is also meant as a reward token for blockchain eCommerce sites in the long run.
RDR is a utility token that people are able to earn through:
a) Airdrops
b) Earning them on promotions with other projects. For example, now you can get RDR on:
- trades with Spicetrader from the DV project. If you buy some Spice, for example, he will be sending some DV and RDR based on the amount that you purchase.
- in Ham Channel for participating in games
- in TTT for quizzes.
c) We will launch the possibility to participate on some selected blockchain referrals so you will be able to earn quarterly a share of these referrals and also some RDR for that.
RDR is also traded on memo.cash and CCTip (RDR – USDT, RDR – BCH)
Basically, RFND is used now for staking, RDR is our utility token which complements the whole system.
EngrSamest: Awesome and amazing. We are growing day by day..
🤖 Maca B : https://youtu.be/s1KFBD32F2I
EngrSamest: RDR is our utility token while RFND is only for staking.
4. Why should a normal user choose RFND instead of some other crypto. What's the ecosystem for RFND (other projects that RFND is working with) and what are the real-world usage capabilities not these.
Cryptovato 1:adminThat’s an interesting question.
First of all, everybody shall do always their DYOR. That decision every user shall do on his own. Now the advantage of RFND is that his/her stakers can receive the staking rewards directly in 3 top world cryptocurrencies such as BCH, ETH or BNB, and also Spice Token. We consider this as a unique feature because there are some projects who pay their rewards in their native coins or only one coin, so here the user can opt. The level of these staking rewards depends directly on the amount of RFND staked.
What's the ecosystem for RFND (other projects that RFND is working with) and what's the real-world usage capabilities not these.
Our ecosystem is inside SLP system, and we have developed strong ties with DV, Ham, and Sweet community. We believe in the power of collaboration. Our community is still very small but we also plan a process of hybridization in the second part of 2021.
We present our proposal but remember every user has to do their own analysis. It is like now on the current market conditions. Some traders will be telling you that we have a possible new bearish move, others will tell you about the bull breakout. Therefore your own independent opinion based on your DYOR is something that everybody shall be doing.
5. It seems Refund token has not been marketed worldwide, as CEO of Refund token what are you doing to get refund token marketed to a layman's reach and achieve world onboarding? Is there any plans to enter DeFi or NFT on refund token as we all know that crypto market is revolving and every crypto coin is trying to adapt to the hype and tune of the market?
Cryptovato 1: I agree we have to focus on the marketing of RFND. RFND is now focused on key geographic areas: UK, Canada, Nigeria, India, Indonesia, Philippines.
We will focus on paid AMAs in the second part of the year.
We will hire freelance writers to promote RFND And we consider also to have a marketing position by August in our team. Participate in some blockchain media podcasts. Remember the best marketing is based on Word of Mouth – Here comes the challenge of every blockchain product or service. Do you like, do you recommend it, have you had a positive experience with it. Besides all advertising and promotion efforts, word of mouth – not only the one, face to face but also online word of mouth is something we have to stick to.
Another focus of RFND token is marketing RFND in Spanish Speaking countries across Latin America, this is something we will be working on in the coming months.
Now I go to the part of NFT:
Currently, we are in the process of checking NFT with one team member in order to generate a venue of passive income, through WAX ecosystem. We are in favor of this but honestly, I need to get into it, to comprehend it thoroughly, and this what we will be doing this weekend.
Regarding to Defi, this will be enhanced once RFND enters to hybridization part and with the upcoming smart BCH system.
Cryptovato 1: @sonicfrog77 is our key assessor in this area. His knowledge and expertise is highly appreciated.
6. Is RFND still going to be an SLP token or will it later change to a coin like some coins too
Cryptovato 1: RFND will be always SLP token, however if we do a process of hybridization in the future, RFND may enter to other blockchain networks such as Avax or Binance. However, this is long-term work and we have to select the best option.
We have been inclined towards Binance but we have to also review the pros and cons of their centralization. So we have to analyze clearly this option and see what is the best and safest option for our community.
EngrSamest: Great... There is also room for diversity in business. That's business slang good to see you considering this aspect also.
How RFND planning to cope up with a recent and any future possibilities of bear market?
As we said do not keep all eggs in one basket...
My question is,
What is the level of diversification of RFND investment? How must it is spread across different investment options are we keeping some asset in safe invesent options?
Cryptovato 1: As you know the strong bearish moves appeared in the second part of May. Market has had some plunges of Bitcoin and Altcoins and few days of relief. However, we were getting ready to convert some altcoins and we moved a lot of investments into stable coins. Probably we are not generating high profits at this moment, but we procure to keep the value of our investment stable.
Another thing we do is to do leverage trading in a short direction at very small rates of leverage and for very small amounts.
Basically, the strategy is the following:
you have for example 300 USD in USDT, you wait for market drop and you buy the coin or token when it dipped. However, we need to balance the ratios. So now basically we go more on conservative mood, most of our investments.
8. When are we expecting another airdrop
Cryptovato 1:adminThere will be airdrops for Refundians who have RDR tokens
a) We will have DV token airdrop next week
100 million DV (that is aprox. 0.1 BCH at the current market value). plus people who get their DV over 80,000 DV will be entitled to receive their BCH staking reward payout which Spice traders give every day 1st.
b) There will be second RDR airdrop for all Refundians on third week of June
c) There will be another surprise for RDRians in June but we will keep it quiet.
EngrSamest: 🤑 Everyone is happy seeing this... Get your wallet ready to bag this tokens
🤖 Maca B : Dropped dollar smiley
Cryptovato 1: Because we don't want everything that predictable, but this is gonna be a good one.
9. Recently there was a huge correction in crypto prices and the market is too volatile, so what is the performance of RFND's portfolio in these volatile conditions, and what are the measures taken to prevent those damages?
Is there any idea to migrate RFND token to Binance smart chain, considering the popularity and lower gas fee compared to ETH
Cryptovato 1: As you know some of you my position, I am considering strong market adjustment in the coming months. Remember that all of this is a game of probabilities, none of us has absolute truth. In the lowest bearish scenario we see Bitcoin bottom between 7,000 and 14,000 USD and Bitcoin Cash between 70 and 150 USD. Alts will be hit much harder than Bitcoin itself
Cryptovato 1: This is the worst-case scenario but the market can also go in other directions, so our investment strategies are ready for all of this. Basically, we will rely on stable coins, stable investments and go for trading once a considerable dip has been achieved.
EngrSamest: Nice move
10. Will RFND have a separate wallet in the future that can staking without having to use the site, making it more automated.
I hope the minimum nominal RFND is reduced further so users like me who only have RFND can participate in staking.
Cryptovato 1: I have been offered previously to develop a wallet but at this moment we prefer wallet available option. The best options now are Zapit and Electron Cash SLP wallet.
Regarding to staking, we want to advance in a process of more automated way of staking. But this is a plan for 2022.
The minimum amount of RFND for staking now is 1,000,000 RFND.
So you only have to subscribe on FEX, it's a very simple process. Basically, to agree on terms and conditions, add your SLP address and your receiving address.
Regarding to value of RFND:
RFND has a different value, you can obtain RFND on 1BCH.com,
CCTip, memo.cash and Spice Trading Bot
🤖 Maca B : https://youtu.be/cYMHQe187eE
Cryptovato 1: Remember always to compare the prices. Because it is not the same.
1BCH.com is a very solid and safe option. CCTip is probably the cheapest one. Memo.cash is probably the most expensive one and the least liquid one.
So you have to make up your mind when you trade your RFND.
Something important:
RFND staking is non-custodial, you are and you will be always in charge of your funds, we don't hold them anywhere and the final balance of RFND of day 1st of each month is the one that is considered for calculation of RFND staking rewards.
EngrSamest: Nice info. Thanks boss
11. What is the future projecting of this project
How big is the target market cap?
Cryptovato 1: I personally prefer to stick to reality rather than promising things that we don't achieve. So we have formulated 5.5 decades of gradual circulating supply issuance. That means that RFND is going to be slowly issued for the coming 55 years of existence.
In case of market dips, the issuance may be stopped or reduced. For this year we forecast max supply issuance to 10% of the total supply. Those are the max limits.
Every following year, this issuance will be gradually decreasing. Free market will be giving us the real price and real conditions.
There were people asking me if RFND is going to cost 0.01 USD one day in private conversations, I would never dare to tell you this because it will depend on the market, level of confidence, Bitcoin, and therefore Bitcoin Cash market trends. What I can tell to everybody is that the cryptocurrency market is highly volatile and we cannot tell you which price is good, high or low.
EngrSamest: Absolutely yes
12. Please sir, I need more clarification on the staking process. I stake my RFND for BCH when I did not have enough or the required amount of RFND to be staking for that Reward. Please, sir, I want to know, if I letter have the required amount of token, will I still entitle to have that my staking reward?
Please, sir, my question is related to zapit wallet. I notice that there is a place we can transfer our funds directly to our local bank account. I want to know sir if this is truely possible.
Cryptovato 1: A good question.
The minimum eligible amount of RFND is now 1,000,000 RFND
From 1,000,000 RFND to 40,000,000 RFND you can receive Spice and BCH rewards
From 40,000,000 RFND you can obtain BNB, BCH and Spice
From 75,000,000 RFND you can obtain ETH, BCH, BNB and Spice staking rewards
you can see also video on how to stake RFND in our official Youtube Channel.
🤖 Maca B : https://youtu.be/hqqHNG9Zdc0
Cryptovato 1: Regarding to Zapit wallet,
I don't know if that option exists. What you need to do always is to convert RFND to BCH or ETH, on exchange, wire that BCH and ETH and convert it to your national fiat.
🤖 Maca B : Zapit Telegram Group: @zapit_io
Cryptovato 1: There is one option being developed at this moment. Payments with SLP tokens, they raised a flipstarter, but I don't know when it will be implemented.
This is totally independent project from us.
EngrSamest: Can you share a bit, the difference between current FEX rewards.
Cryptovato 1: I want to point out that we have been doing a transition in our FEX staking rewards calculation.
Excellent question. I will share this article.
Cryptovato 1: https://twitter.com/RfndToken/status/1395216551175938053?s=20RFND Investment. Remember to subscribe to our Telegram RFND News there are all updates that we have
🤖 Maca B : @RFND_NEWS
Cryptovato 1: Something that I want to tell you about this is the following:
We did the change to ensure the financial sustainability of the whole staking system
Here I mean the following. Let's say that according to the old system of calculation we have to pay 0.6 BCH but here we have to ask what kind of BCH? The one that costs 700 USD or 200 USD or 3,000 USD, Therefore we transited to the option that has been working from the beginning of RFND.
Calculation of staking rewards won't depend on the price of RFND anymore.
This mechanism is discharged. Calculation of staking rewards will depend on the value of our crypto holdings, convert them into USD and pay a percentage of all RFND portfolios to stakers. We also adapted the formula of staking into the factorial formula where the differential between levels has been adjusted. There have been important efforts in our team expenses in the last months to reduce the level of expenses, for more and thorough comprehension please check the article, We will publish also a video in coming days for people who prefer audiovisual content.
EngrSamest: Thanks for this explanation
Cryptovato 1: Basically this change fits to our core value which is financial sustainability. This is something that all our team has to comply with. It is something we have to do no matter what
🤖 Maca B took the baton and continue the question and answer section.
13. Now that we can stake out $RFND and earn $bnb, does that mean rfnd will be integrated into bschain.
Cryptovato 1: Not exactly. We provide the option of BNB payout because it has competitive fees and BNB has become the 3rd or 4th top cryptocurrency. RFND inclusion to Bschain is in process of evaluation
14. nowadays many people use trading bots to make trades, which can be detrimental to people who do manual trading, what is your solution to anticipate that ?
Cryptovato 1: I personally don't use trading bots. However I observed that there is a company called Rubika, which had interesting results.
Denver Ferrer: Very interesting questions and very exciting. Looking into the future.
Cryptovato 1: I think that trading bots shall be incorporated to our trading in the coming months but in very small amounts. Remember everything new first needs to be tested.
15. In the journey of refund investment project what are experiences that made it strong to stay and be motivated in crypto industry since building, handling or creating a strong foundation in business is not easy to manage, your time and effort should be fully on to the support of your team. How do you support it from the beginning of the evolution of your project..
Do you believe in building a strong foundation in business should start from good communication, building a good relationship towards people that may you become partners in the long run and then the trust will follow? Since now a days trust is not easy to give and not easy to earn from people whom we know that they may judge us from the start.. So how do you interact with whom you prospect as partners.?
Cryptovato 1: I believe 100% in power of communication. we have reached important advances with a lot of people in BCH and SLP world. I have to publicly give my thanks to:
Cryptovato 1: GoatPharmer, SpiceTrader, Josh from TTT, ElDorado from Ham Token, Eric from 1BCH.com, Steve Tait, Maca, Chad, Sam, George Donnelly. Without them and without you this project wouldn't have gone that far.
🤖 Maca B :bomb: 🤗🤗🤗
Cryptovato 1: We are working on PR, external and internal, even if I am not always in the group, there are important efforts being negotiated behind the scenes. I forgot to thank to Samurai and Robert Reed and all you who have been supporting me with a lot of enthusiasm in the last months. My key role is to coordinate all this effort and we have to work on the way of improving it.
Chandrakant Prabhu: Good AMA Jan. Wish you and the entire team all the best!!!
Cryptovato 1: Another thing that has been moving positively up this project is a collaboration
🤖 Maca B : Alright. Last question🥳
[4:45:15 PM]Chandrakant Prabhu: We have full confidence on you and your team on this project and hope to see exciting times ahead !!!
16. Most of investors just focus on the price of token in short term instead of real value of project. Can you tell us the motivation and benefits for investors to the RFND token long term apart of staking rewards?
Cryptovato 1: A great insightful question
For me more than RFND price goes up or down, the value of RFND is in its staking rewards. No matter if RFND costs 0.6 sat, or 0.4 sat or 10 satoshi, staking rewards will be delivered to the holders. So this is the basica motivation, another motivation is that investors or community members can participate in a lot of internal dynamics learn more about cryptocurrencies. And share it through the process of honest communication. My purpose is not tell you only the good things, if there are some things where we have to improve we will acknowledge them and will work to fix them.
Thanks to @cyptovato1 for all these amazing responses.
Should need more info about Refund Investment, check out the official links
Awesome ,for AMA