MEXC AMA with EFIN Decentralized • MEXC Blog

In this Telegram AMA recap, you’ll find insights about the EFIN Decentralized project. In an event hosted by Mia from MEXC, you will meet Anthony and Carlo, CEO and CTO of Efin Decentralized.

Introduction:

Anthony: Hi im Anthony the CEO of Efin. I come from the field of web and app based business development with meanwhile 13 years of experience. I am happy to answer your questions about Efin today.

Carlo: Hi i am Carlo (Telegram: Brabo1), the CTO of Efin. Im an experienced infrastructure consultant with 10 years of experience in virtualisation, data, storage and security background for IT projects/companies. I am also happy to answer your questions today.

Questions from community:

Question 1:

Mia: What is Efin? Can you share with us more in detail?

Anthony: yes for sure 🙂

The easiest way to describe Efin is: Efin is like a combination of PancakeSwap, Metamask Wallet (add any custom token, create your own wallets), liquidity pool, Cross Chain Bridge and a near instant “Euro” fiat on/off ramp with bank transfer without KYC. Like Coinbase only faster and decentralized. (limited to 1000 usd per day without KYC)

Question 2:

Mia: So, may I know what triggers you to launch Efin? What are some of the real-world problems/ pain points that Efin aims to solve?

Anthony: Connecting the dots between old world finance and the new. Most people have no access tho crypto currencies. We wanted to create a easy to use product to give people the possibility to reach financial freedom without the need of a Doctor title.

One place for everything a crypto holder would need. Trading/Wallet/Fiat on/off ramp/Yield

Mia: I love the idea of financial inclusion of your project👍

Anthony: thanks ☺️

Question 3:

Mia: What is the role of the $WEFIN token in Efin? Would you tell us more about its tokenomics?

Anthony: WEFIN has many different use cases and we will create even more with our upcoming new product releases. Right now WEFIN can be used for staking, for Liquidity pool rewards and

as a fee reducer while trading. New WEFIN use cases will be integrated in our upcoming EfinSwap Aggregator and our upcoming decentralized Smartphone wallet for IOS and Android. In case of tokenomics i have to say that our project is 100% community drive. We never had a sale. Everything was financed out of our own pockets. This creates a totally other working attitude like in other projects. Right now we have over 1000 holders.

Question 4:

Mia: Are there any exciting news or updates with regards to WEFIN that you would like to share with the users?

Anthony: yes i like to give you some news

Efin is the only decentralized exchange worldwide with a fiat on/off ramp without KYC. Efin is the exclusive exchange of the German Ten31 Bank and integrated into the Ten31Bank ecosystem. Ten31Bank has bought shares of the operating company of Efin. For a better understanding, we are happy to post a picture of the ecosystem and our partners.

In the next few weeks, the liquidity pool will be available and the next step will be the integration of the cross chain bridge. This will be followed by the release of the Efin Browser Extension and the completion of our EfinSwap aggregator and smartphone wallet.

I like to share a picture of how we are integrated into the eco system of Ten31Bank

Carlo: https://digital.ten31.com/

Mia: It’s great to know that Efin has some brilliant products on its roadmap🚀

Carlo:

Question 5:

Mia: I’m also curious what Efin’s unique selling points are as compared to other similar projects in the industry?

Anthony: im happy to answer this

The simplest way to explain the USP of Efin is with the vision of a “one stop shop”. A product where a crypto user has all options without having to use another product. Theres no other Dex available with this much possibilities of different crypto use cases. (even more to come)

The eFIN Team’s goal is to merge old world and new world finance together. We are achieving this with our common goal, focus driven, signature network of like-minded partners from both the traditional finance/banking and cryptocurrency digital finance industries, forming an unbreakable partnership destined to rewrite the history of world finance. The vision of using digital currency as a payment form throughout everyday life is closer than ever before thanks to the individual and collective efforts of our dedicated partners. The combination of our highly skilled commercial, business and banking individuals uniting their unsurpassed knowledge and ability to forge necessary changes has created the power to develop world class products and services for the masses.

Mia: Yes! Everyone loves “one stop shop”😍

Question 6:

Mia: If you were to summarize your project in ONE word, what would it be? and Why?

Anthony: OneStopShop….i know these are 3 words but its the best way to describe Efin Decentralized. You dont need to have accounts in multiple exchanges, wallets or yield provider. You only need Efin.

Mia: haha, it’s a good summary👍

Free-asking Session

Q1. I am interested to invest in your project. When and where can I buy your tokens? Is it already listed exchanges?

Anthony:

Were a global project. Right now listed at Mexc, Coinsbit, DexTrade, Azbit and PnacakeSwap. I personally recomment Mexc 🙂

Q2. [1658] Do you have Whitepaper if yes, please share it with as secondly do you have plans for pre-sale? Now where can we Join it?

Carlo:

Here is our ‘lite’ paper: https://t.me/MEXCEnglish/2593435

Q3. Most users only care about immediate benefits rather than the real value of the project in the long-term. How can Your Project convince users invest to your platform in the long-term?

Anthony:

Right now were at the beginning. Didnt even started marketing yet because our focus is to build a perfect product that pwople can use. Marketing will start in about 8 weeks. Users who only care about immidiate benefits are welcome but will reck them selves with selling early. Were about to release much bigger things with our partners of Ten31 bank. A small hint….ATMs The long term holder will have a much much bigger benefit.

Q4. Are you afraid some day there will be another project with more innovative technology can replace your project ?

Carlo:

For sure, but being implemented in a banks ecosystem isn’t something most crypto projects can become part of.

Q5. How can users stay updated with this project? Are there channels, including local communities where users can get the latest updates?

Anthony:

You can follow the project and get the latest updates in our Telegram or twitter.Telegram: https://t.me/eFINsocial Twitter: @efinexchange

Q6. How many team members do you have? Do they have enough experience in the blockchain field? Do they have any experience on working in crypto and non-crypto project?

Anthony:

We have 16 team members. 80% coming from the IT/Web/App/ Crypto development. The other from the old banking/finance sector. We are happy to have one of the best devlopment/coder teams. We will announce our Devs officially in about 2 weeks. A small hint. Our Lead Dev was the one who solved the Blockchain problems of Cardano.

Q7. [1658] Can you list 1-3 killer features of this project that makes it ahead of its competitors? What is the competitive advantage your project has that you feel most confident about?

Anthony:

Nearly instant Euro fiat on/off ramp. (15 minutes), member of a big crypto bank ecoystem with highly experienced partners, no other dex with all these options in one place. And evern more is coming like the Efin Browswer extension and the decentralized Efin Smartphone wallet for IOS and Android.

I really would have like answered more questions. But the time is running away. In case you like answers to your questions please join our Telegram and twitter. Our Admins will help you with the answers. 😊

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