Ready for launch: Our AMA with TheForce.Trade
Image: Details of the upcoming TheForce.Trade Launchpad sale
On Friday April 23rd, we invited our newest LaunchPad partner TheForce.Trade to answer some questions from our community before their highly anticipated NFTs go on sale on Thursday April 29th at 10am EDT at https://launchpad.bswap.app/.
- Bondly representative: Harry (Co-Founder & Chief Innovation Officer)
- TheForce.Trade representative: Benjamin (Co-Founder & CFO)
Harry: As you know, we will be conducting the next NFT LaunchPad on BSC with TheForce.Trade in the coming week. We’ve established this AMA to let our Bondly community get to know more about the project and how the project can add value to them.
To start, Benjamin, can you tell us about what the project is about?
Benjamin: Sure, no problem. Thanks, Harry.
TheForce.Trade is a data aggregator platform designed specifically for DeFi and NFT. It utilizes customizable smart contracts to simplify the investment process for users of all levels. We create value by providing users with data and automated tools based on their needs to maximize yield farming revenue and NFT investment return. This allows users to control and keep track of related risks.
So, in a quick sentence TheForce.Trade is a DeFi dashboard tool + NFT platform
Harry: At Bondly, we really believe in building utility for every single NFT and NFT + DeFi is one of the ways that makes the NFTs sustainable. As we enter the world of NFTs, we see this is a popular area for innovation.
Benjamin: Yes, we share the same vision with you guys too.
Harry: Awesome to hear that, can you tell us more about the background experience for the founding team?
Benjamin: Yes, our team is made up of a group of developers, financial professionals and community managers who run as an anonymous DAO team. There are about 20 team members working with us, half of them are based in the Bay Area and the other half in Europe. Our CTO has a background from Google and Facebook as well as full stack. So we have a very strong tech team to deliver our product. Our CEO & Co-Founder Peter has years of experience working as Senior Executive in Fintech companies and provides leadership to the project team at both strategic and operational level. And myself have been in a crypto fund in Dublin since 2015.
Harry: That’s pretty solid.
“The Force Trade can simplify the investment process of DeFI and NFT for users of all levels”, can you elaborate for average users like a Bondly NFT holder, how they can benefit from it?
Benjamin: The first thing I could think of is that, we are planning to set up a NFT pool for Bondly NFT holders, you guys can pop in and stake the NFT into the pool and earn $FOC token.
Harry: That is pretty cool 😎 Using NFTs to earn a passive income
Benjamin: And also we’ll collaborate with Bondly and introduce big IPs to your platform.
For now we’ll have a NFT game project coming and other exciting stuff like singers and movie stars from Europe. All $Bondly holders and NFT holders will benefit from that.
Harry: That is awesome, we are working with many influencers, celebrities and more to come, this potentially would add more utilities to their offering.
Benjamin: Sure, we’d like to make it a win-win for both of our communities.
Harry: The roadmap is ambitious, I wonder when the product will launch?
Benjamin: For now we initially made a date on May 12th to launch our DeFi dashboard and auto farm pools. We are launching on BSC in the 3rd week of May, our NFT platform will be online and initially launching NFT drops and Treasure Box.
Harry: That is pretty soon! I love to see projects that quickly roll out products and get community feedback.
Benjamin: Our DeFi sector is ready to go and just got smart contracts audited by Trustlook.
Harry: I am an active user of DeFi dashboards like Zapper Fi. So there are DeFi aggregators like Zapper Fi and Zerion. How does The Force.Trade differ from them?
Benjamin: Well, TheForce.Trade is more like a tool with risk control. We have a rating system that grades the pools we list and tells our user what risk level each pool has. If a pool starts to become high risk, we issue warnings via our rating system. We also integrate some small tools, such as an allowance check and impermanent loss calculator. Most importantly we give our $FOC token more utility value with the NFT.
Harry: That would be useful, does it warn users of high risk in real time as they login or does it only inform the current pool?
Benjamin: Well, we’ll put a warning sign on the pool when it gets in trouble, and users can withdraw their assets as they see the warning.
Harry: These add-on tools indeed would give more insights than Zapper Fi, allowing investors to make better decisions. And what are your plans to drive adoption and the use of The Force Trade?
Benjamin: Well, initially there will be a quite attractive APY when we launch the app, thus getting more DeFi lovers to join us.
Harry: Can’t wait to see the app live and try it out 😃
Benjamin: We have zero fee principal and no fee for profit at the beginning for whoever is staking and farming at our pools. We will be signing some big IPs all over the world to bring their fans to join us. At the moment we are having a discussion with a Japanese virtual idol who has 7 million fans. Big projects like this bring non-crypto native users to us.
Harry: Woahhh, that’s a lot of fans. I am sure there will be many opportunities to collaborate and add value on that virtual idol in the coming months.
Benjamin: We’ll have more interesting NFT projects landing on us like games and manga or music, and happy to share them with Bondly.
Harry: Nice! Another way it can drive adoption is to have our native NFTs and celebrity NFTs put that into the staking pools too. Back to Launchpad topic: Bondly’s NFT LaunchPad has been helping many excellent projects in the past. To us, it is an innovative way to help projects raise capital, as well as be included on such an innovative product!
What excites you about Bondly’s LaunchPad?
Benjamin: We’re the very 1st project that Bondly is launching on BSC, that’s super exciting! On BSC the gas fee is very acceptable around 0.1BUSD compared to 100USDT in Ethereum. Would save loads of $$ for participants!
Harry: That’s great!!!! That’s a 99% reduction on fees!
Benjamin: Also the ecosystem on BSC is quite booming, and the speed is way faster too! You won’t get stuck in transactions as it runs very smoothly. It is a great move for Bondly I think, which will help $Bondly holders earn more $$$. Right, it is getting very popular, our audience is staking Bondly in the Pancake pool too. This is going to be a new experience on BSC for this Launchpad.
Benjamin: Yes, I myself am a $Bondly holder. I stake and farm $Bondly as well!
Harry: WWWWWWWWWW. We are almost at the end here, I have one last question before opening it up for the floor, what is the benefit/utility of holding a TheForce.Trade NFT?
Benjamin: NFTs launched from TheForce.Trade will all be able to stake and farm in our NFT pool. The trading prices will be collected by our NFT oracle which we’ll develop in Q3 2021. With the oracle, we can develop NFT renting and NFT loaning features in the future. These NFTs are very well-designed and collectable, of course, but we try to be more innovative than that.
Harry: That’s a great utility, not only does it get airdropped, it can also be used to stake. Love the sound of that! Can’t wait to show everyone the design of the NFT made by our artist!
Benjamin: Me too!
Q1 I am really interested in TheForce.Trade’s use of machine learning. How robust is your model in training and, as the roadmap includes debugging in Q3, are you employing an alternative in the meantime?
Answer: We’re open to all good devs and also have bounty rewards for contributors.
Q2 Can you explain how the auto-farm function’s compound interest will be reinvested?
Answer: We designed smart contracts to do that which we’ll do an open resources after launching, you’ll see details there.
Q3 Do we have more launch partners except Bondly?
Answer: Yes, we have Duck Dao and BSC Pad as our launching partners.
Q4 How does your risk rating system in yield farming work?
Answer: We initially use a model to rate it up, and get AI algo to collect data and train. It will offer recommendations automatically in the future.
Q5 What’s the process of integrating NFT services into your platform?
Answer: The progress is NFT drop first, then treasure box, and NFT pools. After that comes the NFT Oracle and Renting and Loaning.
Q6 I heard about the treasure box function. Can you tell how it works?
Answer: Yes, it is also called blind box. Kind of like a lottery.
For example, there are 3 game character cards in different grading such as B A S SR SSR, the higher grading more powerful the characters are. People may draw it to get a random card from the box, the higher grading the rarer it is.
Q7 Will staking NFTs lock them in a contract, making them unavailable for all other use?
Answer: Yes the NFTs will be locked in
Q8 1.2 Million is a huge raise at IDO
Answer: We well prepared for that with yield farming pool and we believe most holder will join the pool and lock up the liquidity
Bondly is an interoperable, transparent, and portable swap protocol designed to revolutionize traditional escrow methods that empower the next generation of NFT creators. Bondly’s vision is to use arts, games, anime, music and brands based NFTs to bridge non-crypto audiences to join the crypto world while providing decentralized finance.