On November 24th 2021, our community had a chance to welcome Mr. Glory Lucas - CMO at Bitlocus to join an AMA to deliver fruitful information about the key features and roadmap of the project.
This AMA was held by CryptoFamily Group – the top crypto community in Vietnam, where investors and traders can obtain the latest news and signals from bot/ admins, as well as discuss and share investment experiences in the crypto space.
🔎 Bitlocus (https://bitlocus.com/) is DeFi investments platform for fiat-based investors | Crypto to Fiat Exchange
At this AMA, Mr. Glory Lucas directly greeted the community and provided detailed information on the project as well as some exciting events that will be held in the near future.
Time: 20:00 PM (UTC+7) | Wednesday, 24-11-2021
Venue: https://t.me/CryptoFamilyVN
Reward Pool: 100$ for members with the best questions.
Below are some main points of this AMA session:
PART I: INTRODUCTION OF BITLOCUS
Q1. Can you briefly describe what is BITLOCUS , We would like to know more about it and how it works?
Mr. Glory Lucas: Bitlocus Is a fiat-investment Platform that allows ens-users to invest fiat assets into DeFi easily, securely, and at a low cost without directly interacting with it.
The platform will be built on an existing centralized exchange known as Bitlocus CEX, established in 2018. It is fully AML and KYC-compliant and has a few fiat deposit/withdrawal options. In addition, Bitlocus is in partnership with Payrico, a crypto-friendly banking service (EMI, Electronic Money Institution; licensed in Lithuania, EU) and Ginger Fund (crypto-oriented hedge fund and liquidity provider).
Bitlocus is specifically tailored to target FIAT investors who want to invest in the DeFi ecosystem effortlessly, low-risk, and significantly lower cost. Bitlocus accomplishes all of this by using a hybrid of CeFi and DeFi. On the one hand, you have many of the positive aspects of a centralized exchange. On the other hand, integrating with the Terra blockchain offers the many benefits of DeFi, including the integration of the native Bitlocus cryptocurrency, BTL.
Q2. Could you please elaborate more about your tokenomics? What’s the total supply and what kind of plans do you have regarding the token unlocks in the future?
Mr. Glory Lucas: The total supply for BTL is 500,000,000. BTL will be created on the Terra blockchain but will immediately be bridged with Bsc and Ethereum.
Our lockup schedule is basically this way
Private:
TGE - 14%
0-3mo - cliff
since 4th month - linear/block-based unlock till period end at 24th month (that's 2 Year total vesting schedule)
Public sales:
tge - 20%
quarterly - 20%
To know all about our tokenomics, it’s well detailed here;
https://bitlocus.gitbook.io/bitlocus/tokenomics
Q3. Can you share the achievements the team has made so far ? What are the major achievement target BITLOCUS is yet to achieve?
Mr. Glory Lucas: Our Plans and what we intend to achieve or what we have achieved for Q4 2021 - 2022 are listed below:
2021 Q4:
⁃ Private sales (closed, $2.7M).
⁃ IDOs - one on Dao Maker’s platform, other - on Terra-based TerraFormer IDO launchpad. Both will happen at the same time in late November. $0.3M in total public sales
2022 will gradually publish the full product in stages
⁃ Q1 - MVP with preselected options
⁃ Q1-Q4: full packages, custom DeFi investment option, lending, staking, NTF marketplace (with filtered our legit NFTs), farming. All available only in top 10 coins/tokens and stablecoins for the matter of legitimacy and safety.
⁃ Crypto debit card (est Q2)
PART II: PRE-COLLECTED QUESTIONS FROM TWITTER
1. From @Samanth8a
The aim of the DeFi is to create a brand new monetary machine that gets rid of subjectivity, bias, and inefficiency by counting on programmable terms. Does your mission guide this vision and the way does it participate in the DEFI space?
Mr. Glory Lucas: Well Our core mission is to enable FIAT users have access to Defi products without directly interacting with it.
So for us we are abiding by the general rules of Defi and we are even making it better if I may add.
Statistically, More than 90% of Money is in FIAT. So we are saying, Hey FIAT users, get your money into the Defi space and get huge benefits by doing so. So we are making the Defi Space even better by bringing in more money to the industry.
So yes we abide by the general rules of Defi while in the process also making it better.
2. From @khoihoangnam
Marketing is always a big concern of every project. In order to fulfil the defined objectives, it is vital that customers realize the potential of your project. What is your long-term plan for gaining more users and investors for BITLOCUS?
Mr. Glory Lucas: Well this is a very good question. For us we are very particular about growing fast while also in the process not burning ridiculous amount of money.
So we are incorporating a strategy of growing through partnerships and also employing Business managers for regions we will like to target. This Business managers will be tasked with getting partnerships and onboarding the clients of this partners.
We will also focus on organizing series of traditional campaigns and strategic campaigns targeting fiat users in the regions we will operate.
There are also other strategic ways we will go about that I may not be able to talk about.
3. From @hexipham368
Partnership likes a supplement that the combined effect is beyond the individual level. Can you name some of your recent partnerships that can help Bitlocus? Please share with us is there any partnership in the up coming time?
Mr. Glory Lucas: Well we’ve been able to partner with the some of the strongest VCs in the industry. We are backed by Daomaker, GBV, Basics Capital etc. We’ve also partnered with Social staircase which is basically one of the best marketing agencies in the industry.
Product wise, we will be partnering with Anchor protocol as the first yield farming protocol on Bitlocus.
Basically, Bitlocus will not survive without strong partnerships so everyday we are actively working hard to seek the best partnerships that will help propagate Bitlocus to its final destination.
4. From @Jasonnmoree
I read Bitlocus has a "mitigated risk" model. Which is fundamental when dealing with FIAT currencies. Can you explain how this model works to minimize the risks inherent in bridging between centralized and decrypted economies? How do you guarantee that the assets are 100% SAFU?
Mr. Glory Lucas: When investing in DeFi protocols, users are usually lured by the promised high returns, and therefore forgetting the hazards involved with the protocol itself. Unfortunately, this has resulted in exit scams, hacks, and other catastrophes in DeFi's brief history, resulting in lasting losses for many users.
One of the merits of Bitlocus is the fact that we select low-risk processes that are well-managed, grow in total value locked over time, and provide consistent returns.
Our emphasis on creating a safe and user-friendly environment helps protect investors from the many risks associated with DeFi. While there will always be risks in investing, the platform does its best to mitigate users’ exposure to potential crises.
5. From @DeJuaan11
As we can buy and hold $BTL to invest in $BTL and to enjoy its benefits. Can you tell us some of the investment strategies that your platform offer to users to earn more revenue?What are the benefits you are offering to holders?
Mr. Glory Lucas: BTL tokens provide holders with a variety of benefits and advantages. From reduced fees to VIP benefits, the token's utility ensures that it will be a valuable investment for anyone. Simply owning BTLtokens can qualify holders for rewards and additional returns. You can find out more here :
https://medium.com/@bitlocus/bitlocus-functionality-of-btl-token-minimizing-transaction-fees-5ffc22fda4b7
CF: Much appreciation to all the insightful answers from our Guests. The community must be really interested in becoming part of Bitlocus. Let's continue with the last part of today's AMA: Live questions. In this free-asking part, all members will have 2 minutes to make questions for our Guests today. Feel free to ask and he will explain gradually in his answers.
PART III: BEST LIVE QUESTIONS IN CRYPTOFAMILY GROUP
1. The presence of non-crypto users is crucial to mainstream adoption. What are your plans to attract non-crypto users to your project?Any upcoming collaborations that will include non-crypto users? What are the killer features of this project that set it apart from its competitors?
Mr. Glory Lucas: At the end of the day, Bitlocus is tailored to target FIAT users. These are majorly non-crypto users.
CF: Seems like there're many things to learn more, but I'm afraid the time is up now. For all of the questions that have not been answered yet, guys feel free to search for more information on the links provided below:
➡️ Website: https://btl.bitlocus.com/
➡️ Telegram: https://t.me/bitlocus_official
➡️ Twitter: https://twitter.com/bitlocus
