AMA Questions & Answers — January 2nd, 2023
Recently the TiFi Team has hosted several AMAs on different channels. We appreciated all participants for these AMAs and everyone who posted these questions, we would like to post answers to frequently asked questions here.
What can I buy in TiFi allverse?
TiFi Allverse is as a revolutionary decentralized e-Commerce platform that supports buying anything. We will stay focus on some product categories at the first version and are excited to share our innovation in the weeks to come.
What collaborations shall we have?
The TiFi team is working hard on all types of collaborations. We will announce the collaboration once we finalize the deals.
Is TiFi Allverse C2C (e.g. Alibaba) or B2C (e.g. Tmall)?
It is a C2C shopping/trading platform. This is a non-custodial and decentralized platform for e-Commerce.
Can we start shopping on TiFi Allverse in the first version that will be released in January?
This is an early version of application, typically unstable, but useful to show what the product will do. Sometimes this stage is referred to as a preview version. Sometimes no more features are added after this release, but bug fixes continue.
What is the maximum target of TIFI?
Growing is always a target, no matter TiFi Token price or TiFi’s business.
What are the plans to add funds to Crypto Loan?
This depends on the budget the TiFi project has. The TiFi Team has worked hard and invested a lot of budget for buying back, marketing and listing on CEXes, we need to add the funds gradually as we mentioned before. Right now, the TiFi Team has invested 5.5 WBNB, 1365 BUSD and 5156 USDT for users to borrow. We will continue to add a few thousands USD worth of tokens into crypto loans for people to borrow.
When would you supply the assets that have been exploited from Crypto Loan?
Regarding the loss, it could be solved by the liquidation process and we are waiting for funds to be available to liquidate the unhealthy assets. So it requires time for us to accumulate the funds to supply these funds.
For the current trading volume is getting lower and lower, the price is getting lower and lower, do you have any way to save?
We understand your concerns about the current trading volume and price of our cryptocurrency. It is important to note that the entire crypto market has faced significant challenges over the last 10 months, including the death spiral of Terra Luna and the insolvencies of 3AC, Celsius, and FTX(the list will continue). These events, combined with the current bear market, have had a negative impact on the market as a whole. In fact, it is worth noting that in this bear market, the vast majority of cryptocurrencies (81%) Are Down 90%+ from their ATH.
Despite these challenges, we are confident in the future of our company and the potential of our revolutionary p2p eCommerce platform, Allverse. We have made great progress in its development and are excited to publish our Allverse Whitepaper on Monday, January 9th, and launch the Allverse alpha version by the end of this month. In addition, we are planning to launch our own blockchain, TiFi Chain, later this year.
We have also formed a number of valuable partnerships and are expecting to announce a significant partnership hopefully very soon. While the bear market has made it more difficult for new projects to gain traction, we believe that the success of Allverse and TiFi Chain, along with our partnerships, will help to drive long-term growth and bring value to our investors.
It is true that we have had to focus most of our resources on development and not as much for marketing as we would have liked. However, we believe that it would be irresponsible to throw money out the window on expensive marketing campaigns while the market is in its current state. Instead, we are focusing on developing our products, building partnerships, and growing a strong community, which we believe will be a more effective and sustainable approach in the long run.
We appreciate your support and hope that this information helps to address your concerns. Please don’t hesitate to reach out to us if you have any additional questions or concerns.