AMA Recap 404 Daily Crypto with KingFundFi

Hello 404 Daily Crypto Community

On the 15th of November 2021, at 08:00 AM UTC (15:00 WIB). We just successfully hosted our 75st AMA with KingFundFi. With our guest from the KingFundFi team:

  • Mr. Andrew — CO Founder of kingfund

Many of you might have participated or many of you not, So here we are up with the AMA transcript for those who missed the AMA session.

Introduction Questions Asked By 404 Daily Crypto Team

Can you introduce yourself and kingfund to our community?

Sure. Hello, everybody! Nice to meet all of the members in this community. Definitely a dynamic group that any project wanna promote towards! Thank you so much for the opportunity.

Let me start by myself. I’m Andrew, the co-founder of Kingfund Finance. My background lies in the IT businesses.

For our project Kingfund, Kingfund is a tokenized asset management and derivatives trading protocol. The concept of Kingfund was first incepted in late 2021 and was developed quickly into its current state.

Can you share the strengths of kingfund that make kingfund stand out?

Well Yes there are lots of blockchain projects out there. We are surrounded by many interesting projects in different categories, blockchain technology allows us to create creative products without limits.

I believe what make Kingfund stands out is our vision. Kingfund’s vision is to empower users of DeFi with asset management capabilities. We hope to be a long term solution for long term holders of crypto assets. Kingfund’s mission is to continuously expand our protocols to encompass more offerings for users; At the same time improve our accessibility to users by exploring new chains and crypto assets as underlying.

I see that the kingfund has its own token which is $KING. will this $KING token be registered later in CEX or DEX

Actually $KING has already been listed on PancakeSwap for a while. It’s a famous DEX built on Binance Smart Chain.

You can directly buy your $KING on it.

Of course we thought of CEX as the next step in the development of the project. We are working with many reputable exchanges and will let everyone know where we will list our token.

How does kingfund intend to increase the value, utility and liquidity of $KING token. thus producing a natural increase in price of the token?

Currently, there are three main utilities for KING token:

1.To vote for the additional add-on of KingA’s next-week interest rate.

2.To receive a weekly ETH rebate, which totals 50% of the fees collected (gas fee excluded) within Kingfund.

3.To receive a boost on KING earning through staking.

Kingfund has a great community. With them as our backbone, $KING will reach its own ATH.

Can you share the latest developments and further plans of kingfund?

Yes.

For latest developments, we just finished implementment of Farm Pools to the project.

We believe that the launching of Farm Pools will attract more elementary-level users to experience Kingfund. At the same time the team will guide those users to be familiar with the mechanism of tokenized asset management, which is and will always be the fundamental feature of Kingfund.

In this week, we are working around the clock to add another BNB tracker funds, which is bKingM. This will be a great leap forward to the team and users. For more further plans, I encourage to read our roadmap here. https://docs.kingfund.finance/faq/roadmap

Questions asked by our 404 Daily Crypto community members during live Session to KingFundFi team

Q1. Twitter : @New_one2

Many majority of Crypto projects are built just for the purpose of creating wealth for themselves. So I want to know the value you aim to add to the crypto industry that will bring greater abundance to the industry

But I have to say that people literally made 250% gains on KING.

Yes we are aware of that many projects, let’s say 99%, are only built on greater fool theory. But Kingfund is building an ecosystem of good projects and a special community. This is what we want in #crypto, in #blockchain.

Governance & DAO frameworks for individuals, investment funds & companies, custom Blockchain, Smart contracts.. Although there are many obstacles and unknowns for us to tackle and explore, I believe our team will make it to the triumph with perseverance!

Q2. Twitter : @Ajibolwees272

Currently most investors only care about profits at the moment but ignore the long-term benefits. So can you give them some reasons why they should buy and hold your token in the long term?

Kingfund aims to provide a long-term asset management solution in the DeFi space. Asset management has long been an integral and crucial part of the financial sector.

Whereas there are interesting protocols in the DeFi space, Kingfund is a refined and improved product that hopes to act as a benchmark asset management solution and a trading ecosystem with innovative tools to cater to both amateur and professional trading. Again, I encourage everybody to read our whitepaper as it will prove this to be true.

Q3. Twitter : @Crypto_influensed666

Your project has great features. There must be an experienced team behind. Can you tell some about your team and their experiences in the market?..

As I said just now,My background lies in the IT businesses. Since I’m a former machine learning developer that does a sub-par job(lol).

So I quitted what I’m bad at and sought something that would give me passion-DeFi. I started building my team around connections that I know are specialist in this field.

And now we are here, with our product — Kingfund Finance! And we want to build a full-fledged team, focusing on the tech/marketing field in the near future.

And now we are here, with our product — Kingfund Finance! And we want to build a full-fledged team, focusing on the tech/marketing field in the near future.

Q4. Twitter : @RusdamPrsdianwan427358

Covid-19 has a bad impact in almost every sector. So, as a crypto projects how did it affect you? How you and your team have done the work in the pandemic?.

The COVID-19 pandemic is such a bummer for people around the world. Our normal lives have been totally changed since it started. But everything has two sides. We have to admit that COVID-19 might have something to do with the booming cryptocurrency industry. Our team members are mainly working at home. We think working at home will give them greater space to create, to inspire ideas!

And Everyone please stay safe stay healthy out there.

Q5. Twitter : @squid_gamerv2

The goal of the DeFi is to create a new financial system that eliminates subjectivity, bias, and inefficiency by relying on programmable terms, Does your project support this vision and how does it participate in the DEFI space?

The DeFi ecosystem is evolving daily with constant emergence of innovative products. In the highly volatile crypto world, users are increasingly seeing the importance of having proper DeFi products that minimize their risk. There is an increasing demand for innovative and robustly designed asset management protocols that cater to different users with varying risk appetites.

Kingfund is a yield enhancing asset tracker with varied risk-return solutions. Kingfund Protocol is not just a standalone asset management ecosystem, but encompasses many features one can require in the DeFi space. It is a one-stop centre for those that want to enjoy a full suite of DeFi features such as single-asset yield farming, borrowing & lending, trading, etc. In theory, Kingfund can track any single crypto asset or basket of crypto assets.

Questions asked by our 404 Daily Crypto community members during live Session to KingFundFi team

From Telegram username @ROB1Nshoot

Do token holders have the right to participate in project governance? What decisions can they vote for on the project?
DO you have coin burn system to increase value of token @ThisisAndrewJones

Yes. Token holders or community members remain our top priority in mind. On a weekly basis, all KING holders will vote on the interest rate, which is effectively the cost of borrowing between Sub KingA to KingB. The weight of the vote is proportional to the percentage of KING tokens held, and the result of the vote determines the following week’s interest rate received by Sub KingA.

From Telegram username @Sarahamelia1

Do you have any plans to attract non-crypto investors to join your project? Because the success of a project attracts more investors who haven’t yet entered the crypto world. What are the plans to raise awareness about your project in the non-crypto space.

Yes you are absolutely right. Marketing is a issue of life and death to a newly built project like us. As I said just now, we want to build a full-fledged team, focusing on the tech/marketing field in the near future. And we believe a great product can attract people also.

From Telegram username @ChaseVillegas

What are the attractive features in your project? What is the vision and goals in your project that you want to achieve in 2021 and beyond?

Please allow me to send our roadmap here for better communication.

From Telegram username @CarlenaWarfield

Do you have a whitepaper? if yes please share it with us and secondly are you working to AUDIT your project, to make its security more secure and reliable?

Sure. Read our whitepaper here. https://docs.kingfund.finance/whitepaper It’s good whenever you come across a new project, you will conduct your own research. And reading whitepaper is a effective way to start!

Our contracts have been audited twice by different third parties. So it’s SAFU.

From Telegram username @yenblades

Which do you think is more important:
A. Community
B. Investors
C. Token Price
If all of the above is important to you, whiich should come first?‌‌

Thank you, I hope you answer! @ThisisAndrewJones

Hi. Thanks for the question. Community is and always will be our top priorty in the development of Kingfund. Because that’s what decentralised all about, isn’t it? We want more voices to be heard and more minds to be understood. Thanks.

Closing words from our guest to 404 Daily Crypto Community

OK. If others have more questions, please join community for more info! You are welcomed at any time!

404 Daily Crypto is a Community of Cryptocurrency enthusiasts. We provide interesting information and news about cryptocurrencies.