Hodl Finance — AMA highlights

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On Tuesday, November 30, we held our first live Telegram community AMA. We noticed a lot of recurring questions from the community and to keep everyone as informed as possible we wanted to answer them. The participants of the AMA were COO Jess Muntenaar and CMO Aron Pierre.

In this post, we have compiled key questions and answers from the event.

Jess Muntenaar
Hi Hodlers! Great to be active in the community once again. We appreciate all the effort everyone is putting in and therefore want to answer all questions you have!

Aron Pierre
Welcome everybody, we are very happy to have you at the first live Hodl Finance telegram community AMA. Let's not beat around the bush and start right with the first question.

“What does Hold Finance, to bring profit and increase the value of the HFT token?”

Jess Muntenaar
Hodl Finance has, as most of you know, the reflection mechanism which will incentive people to hodl their HFT. Hodling HFT means less supply, less supply means the value of HFT going up. Other than that for all utilities now and in the future HFT is required in your wallet! This means less supply… and so the value of HFT will go up again.

We have a lot more prepared to drive the value of HFT which will all be shown in the near future!

Aron Pierre
Perfect, I hope it’s clear to everyone. So in the future, more and more HFT tokens will be taken out of circulation, which will cause the price to go up. But how exactly does the process work? Can you elaborate on that?

Jess Muntenaar
Which process do you mean exactly? Reflection or how the value goes up by less supply?

Aron Pierre
I mean the process of reducing more and more HFT from circulation. That eventually causes the HFT to increase in value.

Jess Muntenaar
Yeah, that is actually one of the key features we wanted to implement from the beginning, already a huge amount of the total supply is in circulation while starting with a very low market cap. So inflation can not influence the HFT price anymore… Now the main things that can influence the price are adding more utilities for hodling HFT in your wallet and putting in more marketing efforts for spreading out the word to even more people!

“The adoption will always outperform the inflation which is actually essential if you want to let your project flourish from the beginning till the end.”

Maybe you can give a few hints on the marketing we want to implement Aron since the utilities are explained in the Roadmap and Utility blog.

Aron Pierre
Yeah sure, we are currently in talks with a marketing company that specializes in promoting cryptocurrency companies.

Here we will give the marketing an extra boost by applying various marketing strategies such as advertising, using influencers, starting new partnerships, and other campaigns.

At this time I can’t say much more about it but I can tell you that the campaign is going to be big and we have many new events coming up that will reward holders of the HFT token for holding it but also will increase the utilities of the HFT token.

Jess Muntenaar
Yeah, really nice I hope you guys are a little bit reassured with this news because marketing has always been on but we focused a lot on getting HFT shown everywhere first like CMC, Coingecko, BSC, etc. And then focus on reaching more and more people, because they can find us with the right logos, prices, and market caps everywhere.

You guys must be thrilled about this, lets go to the next question!

Aron Pierre
Right, thanks for this addition. First, we wanted to put the right structure in place and now we want to start reaching the general public!

Jess Muntenaar
Exactly that's how we roll!

Aron Pierre
Returning to the HFT token. Someone from the community came up with this question and I think this is a good one. Can you talk a little bit more about this Jess?

“How will the bear market affect Hold Finance and HFT?”

Jess Muntenaar
That is actually a good question since a bear market is something that will affect the whole market actually. I think some people went through the last one including myself and it is just not the nicest period to be in but it is a period to build.

So, the bear market will affect the HFT price and the Total Value Locked (TVL), but what we do with our algorithms is constantly lower our average price by making use of all market movements. When the market makes a steep drop we will buy in automatically and sell all market movements during this movement. It causes a catapult effect and lets the algorithms outperform the market in the long term for sure.

Aron Pierre
Good explanation, can you also tell a little more about the trading pairs we use?

Jess Muntenaar
This is actually something really important. The HFT token is backed by all coins/tokens traded within the Foundation Trading Algorithms (FTA). So we now turned on Bitcoin, Ethereum, Binance Coin, and Quant Network which are all top-quality projects backing HFT. We will extend these trading pairs with even more strong coins/tokens which will be decided upon by you all!

Aron Pierre
Very nice! And this extra addition of the trading pairs. How does that process work?

Jess Muntenaar
Ohh that is the fun part, of course, maybe you can elaborate on that since it will be marketing focused and the community will be highly involved in this.

Aron Pierre
Ah, thanks for the rebound Jess haha. Yes, I can definitely answer this question.

Jess Muntenaar
This is what we do for each other, spread the work right.

Aron Pierre
This is indeed a nice aspect of our trading bots in which we need the help of our community. In fact, soon you will be able to vote on trading pairs that will potentially be added to the Foundation Trading Algorithms!

This voting will take place on our social media channels.

The process works as follows:
We will put a number of trading pairs against each other in a vote. This vote will be open for a number of days during which the community can vote for their favorite cryptocurrency.

The one with the most votes will be added to the Foundation Trading Algorithms (FTA) to generate profits and buy back HFT from the market.

Jess Muntenaar
Yeah, this will be a nice marketing moment for our marketing team and the whole community to share it with all concerning trading pair communities.

Aron Pierre
Yes definitely, also, as a result, the HFT token will be backed by even more cryptocurrency projects and will attract the members of those communities. This will add more value to the HFT token but also our community will grow during these events. Let’s move on to the next question.

“Has the CertiK audit been completed, Jess?”

Jess Muntenaar
Yeah for security this is really important! We actually already finished it, but by a small problem on launching day we had to change something last moment. This meant a minor change in the smart contract which will be audited in the coming days. Everything is paid for, and for a small teaser even Skynet will be implemented to show social statistics as well as smart contract statistics to be as transparent as possible with our beloved community.

But this is actually not really for the fun part but more for the security and transparency of the project! Now Aron, can you maybe tell us something about the Hodl To The Moon game which was a huge event during our launch, which I think, the whole community liked a lot.

Aron Pierre
Yes, of course, I can tell you a bit more about that. After the great success of the launch of the HFT token and the Hodl To The Moon game, there have been many requests from community members who wanted to play the game again. I admit the game was a bit addictive to play. But we have listened to all the requests and have decided to put the game back online soon.

We will do this with a use and earn mechanism! The details will be kept internal for now, and we will announce them at a later stage.

Jess Muntenaar
This is awesomeeeeee! At least I like to play it myself a lot! When the time is there of course. Anyway, I think these were the major questions we thought were important to answer during this AMA hour.

Aron Pierre
Yes, you're right, lets now open the chat for additional questions from the community. And btw thank you all for attending. We are very happy to bring you along on this adventure.

Community member
What is the token’s marketing plan? After what stage do you plan to list the token on popular exchanges, if planning this at all? (especially if we include how HFT reflection works)

Aron Pierre
We are currently in talks with an external party to give the marketing an extra boost. This will involve the use of various marketing techniques. Think of email marketing, content creation, competitions, advertising, and many more other marketing activities.

As for the listing on new exchanges, we are still busy with the new developments within Hodl Finance itself. We first want to make sure that holders of the HFT token are rewarded as much as possible and this is only possible if people keep their tokens in their wallets and not on the exchange.

However, a number of proposals have already come in from potential exchange listings and are now being reviewed by the team. This will be announced when the time is right.

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