Citizen Finance AMA Recap
Pinky | SuperLauncher
Hello Birdies, Thanks for joining us for the AMA with Citizen Finance!
Format: Today’s AMA with Citizen Finance will last for roughly 30–45 minutes, followed by a 15 minute segment for AMA with the birdies :) Grab some bird seeds and sit tight.
Welcome Alexis and Alex. It’s a pleasure to have you here for an AMA with the Birds of SuperLauncher ahead of your inaugural IDO tomorrow, 22May, 2PM UTC. How do you feel ahead of the sale?
Alexis | Citizenfinance.io
Hello everyone
First of all thank you for having us here. Let me use the “Birds” term, we feel fly FLY regarding the upcoming IDO with SuperLauncher having received lots of love from the birds community.
Alex | Citizenfinance.io
From my side, I am honestly very excited. The support we have been getting is amazing, and the community has been great. Looking forward to what’s coming.
Pinky | SuperLauncher
It’s a great honour to be hosting the Citizen Finance IDO, so thank you for taking the time to be with us today!
For the benefit of the Birds, please tell us more about your background and a little more about the team. What compelled you to build Citizen Finance?
Alexis | Citizenfinance.io
My name is Alexis Office, Product owner of Santa Fe and CifiPowa (including Powa X) at the end of this year, I will be celebrating a 6 years anniversary in the blockchain industry. I have been opportune to work with different blockchain companies like Okex, Spheroid Universe, MASS, GCN and many others.
Citizen Finance was founded with the intention to provide freedom of in-game assets to gamers and also provide more use case for in-game assets
We are a diverse team across 5 continents, indie developers and blockchain developers with years of experience
We saw that the current use case of in-game assets and NFT is still very little, we are merely scratching the surface of the true NFT potentials
Alex | Citizenfinance.io
My name is Alexandros Kaffetzakis, from Greek origin, and I am the Lead Game Developer and Product Owner of Meta City. I personally started out very young. I always enjoyed learning about new things, and when one of my teachers introduced me to programming more than 6 years ago, that’s when it clicked. I am self-taught, and have been specifically working in the game dev scene for 3 years now.
I met Alexis through a job position offer on the internet. I started from a typical programmer position, and grinded my way to the top. Alexis has been a great influence to me, and when I first heard about his ideas for this project, I was mesmerized. It is finally time for a big ambitious project, to connect the world of cryptocurrencies and NFTs, with the world of FPS games. The potential is incredible and the opportunities amazing. We have what it takes and we can make this happen.
Alexis | Citizenfinance.io
Which is why we came together to develop a ecosystem that comprises of ecosystems to offer the next generation NFT utilities
Pinky | SuperLauncher
It’s always really heartwarming to hear founder stories, and how they met :) The journey is long but is always made that much more exciting with like minded individuals who are willing to go the mile with you. Thanks for giving us that bit of history!
Your development focus means that you are building on all fronts. Your product repertoire includes SantaFe, CifiPowa, PowaX and MetaCity. In simple words, could you tell us how our users could use each of your products, along with the timelines for rolling each out?
Alexis | Citizenfinance.io
As the product owner of SantaFe and CifiPowa (Powa X) i will try to give you a simple and clear understanding of the products
Santa Fe is a decentralized staking and lending protocol with NFT elements. In contrast to other lending protocols and staking platforms, Santa Fe will utilize NFTs as collateral for borrowers. We are trying to create a perfect economy for gamers to be able to use some of their in-game assets as collateral to take loans instead of storing them on their game vault. Our staking protocol also enables players to stake in-game assets to earn $cifi token.
CifiPowa is an innoavtion on its own
It is the first NFT marketplace with immersive features. CifiPowa enables anyone and everyone to mint their own artwork into the blockchain either as a single item or as part of a group (collection). The Marketplace is also the only NFT marketplace with cashback system (when $cifi is use as a payment method)
Backed by Powa X, CifiPowa Marketplace provides multiple income options for artists. On other NFT marketplace, artists can only earn income when their artwork is sold but on CifiPowa (Powa X) they can curate art exhibitions with their artwork. Exhibition can be monetize which gives the artist income without selling their work
Powa X, an augmented reality based application which runs on android and iOS offers an immersive experience to users. You can make videos with your NFT artwork instead of just leaving it on your trust or metamask wallet like a shitcoin, you can take photos, make memories by bringing your artwork to live using augmented reality
The difference between Powa X and Terravirtua is; while Terravirtua gives you their own artwork (not fully on blockchain), Powa X allows you to use your own artwork on blockchain. Powa X is a NFT social media place which we have dubbed “The TIKTOK for NFTs”
Alex | Citizenfinance.io
Meta City is the most ambitious application in our ecosystem.
It is a Blockchain-Enabled Multiplayer Progressive Open-world First Person Shooter game.
One of the best aspects of this game is the diversity in ways to play it.
Casual players can play the campaign and follow the rich storyline, or play against their friends in no-risk multiplayer games. They can even spend time in customizing their private bunkers, their safe-house and central hub for the game.
Competitive players can play ranked multiplayer game modes, competing against other players for prizes, for status and glory.
Traders can use the marketplace and our other applications combined with meta city to trade for in-game assets. Imagine you have the game’s rarest weapon skin. A skin with only one copy ever created.
The way the game connects with our other applications is amazing.
There are a ton of opportunities and features to be added.
Pinky | SuperLauncher
That’s alot of things aimed at a lot of users
1. SantaFe — Lending and Staking
2. CifiPowa- Immersive NFT Market Place
3. PowaX — AR application aimed at artists
4. Meta City — FPS that’s fully integrated with your suite of products
How do you manage all of this development among your team?
Alexis | Citizenfinance.io
Currently, we are a 13 member strong team. The team was divided into groups, all focused in their own department
Alex | Citizenfinance.io
Organization in each team is the most important aspect.
We know each member’s strengths and weaknesses, and through connecting with them in a deeper level than just co-workers, we develop a consistent workflow.
Pinky | SuperLauncher
Awesome, we love development heavy teams, especially those with synergy :) We really look forward to using your products.
Birdies, watch out! We might feature in Citizen Finance’s products in more way than one ;)
Which brings me to my next question:
The birdie community is well aware that they have to be a Top 500 LAUNCH holder by the time of the sale to qualify for Citizen Finance Genesis NFTs. Could you share with the birdies how they could be used in your ecosystem?
Would the first use for it come on SantaFe?
Alexis | Citizenfinance.io
Sure Pinky
our Genesis NFT which also are in-game assets will be used to play the FPS game and also stake on Santa Fe. The NFTs are first going to be used on Santa Fe where holders will stake on our first NFT pool to earn $CIFI token. Upon release of the game, players be able to deploy the NFT into the game and also withdraw it back to their wallet
Alex | Citizenfinance.io
And the NFT with regards to the game is what changes the scene.
In other industries/applications NFTs are usually images or videos that anyone can download from another source and view.
But in NFT based games, if you own an exclusive skin for example, then nobody else can have it.
Pinky | SuperLauncher
I’m personally very excited about NFTs and especially fascinated about the utility of NFTs in general. It’s great to see you have thought about this very deeply!
Alexis | Citizenfinance.io
thank you
Pinky | SuperLauncher
:) Let’s move on to security.
Recently, you successfully completed an audit with Solidity Finance for your token smart contract. In the audit report by Solidity Finance, it’s written:
“Ownership will be transferred to a 3/4 multi-signature wallet. The SuperLauncher team and Citizen Finance team will each hold 2 of the 4 keys.”
Could you tell us a little more about your audit with Solidity Finance, the purpose of the multi-sig arrangement?
Alexis | Citizenfinance.io
Regarding audit, There have been malicious activities on the blockchain space especially with the advent of DeFi. Protocols are being hacked or Project owners decided to rug by implementing some few malicious lines of codes to give them backdoor access. Citizen Finance wants to protect our citizens from that situation. Upon deployment of the $Cifi token smart contract, there will be 0 supply of CIFI. The smart contract has a mintable function that allows the owner to mint tokens but not more than the maximum supply of 500,000. We decided to adopt a 3/4 multisig wallet to control the minting process. This way, Citizens will have trust that the Team will not mint any token without proper use case and governance vote. The citizens will vote for any proposal made by the team or community regarding minting of Token.
Pinky | SuperLauncher
Thank you for involving SuperLauncher to be your Multi-Sig. We are happy to be protecting both the Citizens and the Birdies with this
Abit about Tokenomics:
In your tokenomics, 60% of the supply is set aside as mining rewards. Could you tell us how these are likely to be used, and what it means for users?
Alexis | Citizenfinance.io
60% of total supply has been set aside for community mining. We are going to use the token for NFT staking, Liquidity mining and also collaborate with other mining farms. Citizen Finance plans to use it as a marketing strategy, gamification and to incentivise our Citizens. There are lots of yield farming and staking platforms which we will collaborate with for mining CIFI. Before any collaboration and allocation is done, a proposal will be set up for the community to vote regarding the collaboration. Citizen Finance has been really particular about partnership, we only make profitable partnerships not for the sake of adding more projects as partners on our website.
Pinky | SuperLauncher
It seems that you place a lot of emphasis on involving the Citizens (governance). Do you feel that the community would be mature enough to take decisions that shape the core direction of the project?
Would it not slow the team down in certain cases? What are your thoughts on this?
Alexis | Citizenfinance.io
Although we want to involve the community in our decision making, Citizen Finance will still maintain the right to veto any proposal that is perceived to be harmful to the ecosystem. We know that some people will want to make the system favours them at the detriment of the masses, such a proposal will be turned down. We will also consult with our partners regarding a proposal which we feel is important for the growth of the platform.
We are not trying to exercise an autocratic government but once a proposal brought up by the team is turned down, we will consult other external parties regarding it. If the advantage from external sources outweighs the disadvantage, we will proceed with the proposal.
The Ecclesia which is a group of people drawn from our IDO investors, Community members, external parties and team members will have the option to decide on a turned down proposal
Pinky | SuperLauncher
Governance is a tricky topic, so I’m glad you have figured out how you intend to conduct it :) Thanks for sharing
This bring us to the last bit
Alexis | Citizenfinance.io
Yes of course, we will have a system where you must hold a number of token to vote
Pinky | SuperLauncher
:) Yes, and to propose as well, I’m assuming?
Alexis | Citizenfinance.io
yes
Pinky | SuperLauncher
The recent market turbulence has made it difficult for investors to choose between projects. For the benefit of all the investors participating in the sale tomorrow, Why should they HODL Citizen Finance’s token?
*As we’ve been doing this AMA, the market’s tanked again 😷*
Alexis | Citizenfinance.io
$CIFI token as the native currency of Meta City (our platform) as I would call it, has a lot of use cases. There are some projects with tokens with no real utility for the token. $CIFI can be used for
- Payment on Cifipowa marketplace
- Payment for powaX exhibition ticket
- Purchase of in-game items
- Purchase of ads space on Meta City and Powa X
- Payment for AR fashion show
- Face value for NFT (locked vale until the token is burnt)
- Creating of own gallery (registry)
- Governance
- and many more.
The platform tends to incentivise holders of CIFI tokens from the dividend pool. We adopt a system where 20% of income from Meta City primary store will be used to buyback CIFI from the marketplace, of the amount purchased, 50% will be burnt and 50% will be sent to the dividend pool to incentivise holders.
CIFI has strong use cases that cut across gaming, fashion, art and the financial (DeFi) industries. Combined with the low supply, team and products, we are confident, CIFI will hold out very strong
Pinky | SuperLauncher
Pay attention Birdies. That’s a TON of utility for a token. HODL to your CIFI tokens and use them in the Citizen Finance Ecosystem across applications. Whether you are a gamer, artist, trader, a collector or even a regular bird, there’s something you can do with CIFI.
Now let’s open up for questions from the birds.
Community Question
Thanks Citizen Finance for taking the time to answer these questions in depth.
Wanted to ask you what you think of having the IDO during the current market conditions?
Alexis | Citizenfinance.io
Although the market is not going according to plan, we have decided to still maintain the initial price of 1 BNB = X amount of CIFI on SuperLauncher’s page. The same amount of BNB you would use in a bull market is still the same you will use in a bear market
Community Question
When is the earliest we can start interacting? With the game or NFT, whichever earliest
Alexis | Citizenfinance.io
Currently, our NFT marketplace is already live on Testnet which enables users to create their own gallery and mint art into blockchain. A full version along with the marketplace will be on the mainnet maximum 2 weeks after IDO
Community Question
When will your 1st product go live?
Alexis | Citizenfinance.io
We will be releasing CifiPowa Marketplace, Powa X mobile application and NFT staking Q2 2021
Community Question
Is the game going to be very intensive? What kind of specs would it require?
Alex | Citizenfinance.io
We will work on multiple levels of quality, so that low-mid ranged PCs can still play the game. We cannot figure out the lowest specs yet as it is too early to say.
Community Question
What’s the current status of meta city (pre alpha)? When can we expect a teaser, screenshots etc.?
Alex | Citizenfinance.io
The pre alpha of Meta City will be a version with its main focus on the core basic mechanics like movement, combat and UI.
It will be entirely different from the full release, which will bring dozens of new features.
It will be released very soon.
Most probably before the end of this month
Community Question
What led you to come up with names such as CifiPowa and Powa X?
Alexis | Citizenfinance.io
CifiPowa you can say “Citizen Finance Power” we are giving the citizens back the power to recreate the way art is viewed
Community Question
Is your game playable on your phone?
Alexis | Citizenfinance.io
Yes, Meta City is going to be mobile friendly on android and iOS.
Alex | Citizenfinance.io
Yes, although the mobile versions will have to come later than the PC version. The next generation of mobile phones that have started to come out will help us a lot, as the game is going to be big, so the timing will be perfect.
Pinky | SuperLauncher
It has been a great AMA. Thank you Alexis and Alex from Citizen Finance. This has really been a very informative AMA. I’m sure the team has a lot of tasks at hand, ahead of the IDO tomorrow and the upcoming product releases. We wish you all the best and we will be following your journey very closely.
Birdies, turn up in a flock tomorrow and get ready to rock Citizen Finance.
