Acta Finance AMA Summary Recap with Shin Chan Community
We held a live AMA on Thursday 09:00 PM (UTC+8), 31 March with Chief Operations Officer, Artautas Jasinskas. Here’s the recap for those who missed it.
JH | ShinChan: Good Evening everyone, Let’s Welcome Chief Operations Officer, Artautas Jasinskas for joining the ama today🥳🥳🥳
Before the ama start, can you please introduce yourself and the team background to our community?
Artautas Jasinskas: I am Chief Operations Officer at Acta Finance. My direct responsibilities are: run day to day operations of the company, overview activity and goals of each department. Be a servant leader to make sure all teams achieve their weekly and monthly targets.
My background: I have explicit experience as a Product Owner / Project manager. More than 10 years working in the financial sector and delivering high impact global projects by introducing and implementing green field solutions in a financial regulated environment.
Additionally, I have been working with high end technologies and leading different teams across the globe. During my career I led several Agile transformations (an act of transforming an organisation’s form or nature gradually to one that is able to embrace and thrive in a flexible, collaborative, self-organising, fast changing environment) by introducing different ways of working.
Also we do have c-level strong core team behind the project: CTO — very experienced in creating blockchain based solutions, our CEO — with huge experience in crypto world and our Head of marketing taking care of marketing aspects
JH | ShinChan: Can you briefly introduce what Acta Finance is all about? And is there any news would like to share with us?
Artautas Jasinskas: Unfortunately I won’t be able to answer all your questions. We are constantly conducting AMAs (with rewards).
If your question did not get answered this time, feel free to join our telegram channel to find out where the next AMA will be!
https://t.me/actafi_official or @actafi_official
Innovation in DeFi is a tradition when the first DeFi ecosystem gets introduced on a new blockchain. Acta Finance (ActaFi) honours that tradition and builds on both Avalanche and Cardano, in parallel, to offer users a choice on which blockchain they operate in the ActaFi Ecosystem.
Acta Finance is a DeFi ecosystem that brings innovation to the DeFi industry by motivating users to build a referral network that rewards user network, and user activity, through a referral system and address milestones. ActaFi Swap is a cross-chain liquidity aggregator that offers margin trading that receives the margin from peer-to-peer lending offers, introducing a new investment opportunity for the users.
You can check and test our current platform here: https://actafi.org/ecosystem — we have staking and affiliates already on testnet. As of now we are in progress our smart contracts to be audited and successful audit results will be shared with our community. If you are interested in getting updates as soon as we share — please subscribe to our tweeter, telegram groups( https://t.me/ActaFi_Official).
Successful IDO on Vent has happened and we were amazed by the support we have from our community. Next IDO is planned with PAID Ignition — date to be announced.
Planning to have 3rd IDO in mid April and get listed our token on CEX by the end April
Twitter Section Begins:
Q1: Acta Finance offers “wrapped tokens” But what exactly is a wrapped token, and why is it important to Users? And how does it work in the case of #ActaFi?
Artautas Jasinskas: On TGE, there will be an exclusive incentive with limited availability.
Wrapped NFT staking. We lock your stake up (wrap) in an NFT, which can be resold. The person holding the NFT when the timelock hits 0, can claim the collateral (deposit + rewards) to his wallet.
Wrapped NFT 8 Months — 25% APR
Wrapped NFT 12 months — 35% APR
Q2: I read that you have an affiliate program that ACTA holders can join.
What is the function of the Affiliate program?
Artautas Jasinskas: Affiliate Network and Address Milestones
Acta Finance is the first DeFi platform that brings an affiliate network and Address Milestones to incentivize user activity. There will be 3 referral levels: Users are rewarded upon reaching Address Milestones and can also earn rewards when their personal network reaches a milestone. Each user will need to deposit 50 ACTA tokens to a smart contract that will enable the referral link to be generated. These 50 ACTA tokens will be locked for 12 months. The minimum rewards amount that can be claimed is 10 ACTA tokens.
Q3: What is the advantage of developing a sub-network on Avalanche and why would you want to use the token as a gas fee?
Artautas Jasinskas: It is another token utility that gives several benefits to us and our token holders. As an example of usage: you were rewarded with ACTA tokens and you are performing a swap and you need to pay network fees, so with this utility you are able to use your ACTA tokens to cover network fees.
Q4: I believe we will have a launchpad and eventually Acta holders will vote on which projects will be launched (when DAO is fully functional), correct? Are there any planned incentive (to holders/stakers) who bring/mediate new projects to be launched?
Artautas Jasinskas: The DAO rewards will be distributed every quarter, which also includes a buyback program.
There are 3 DAO levels to be earned, determined by the amount ACTA Tokens the user is staking. The higher the DAO level, the more passive income a user can generate.
Also you can always find all information in our home page: https://actafi.org
Q5: It’s great news that you are launching on Avalanche and eventually Cardano. Is there any future plans to expand in to other chains?
Artautas Jasinskas: Currently we are developing on 2 chains: Avalanche and Cardano at the same time. This is our roadmap for now. As in our company we believe in actions over words — so will leave this for future announcements.
Telegram Live AMA:
Q6: Can I Made my Carrer In ACTA FINANCE, If Yes Please guide me Because I am Interested to Join this Platform and Build my Carrer , Please tell me ?
Artautas Jasinskas: very good question, we are always looking for people to expand our team, we are updating our web page with open positions, so please do check constantly here: https://actafi.org/careers
Q7: I saw that you changed your project name a while ago.
Why did you need this? Also, could you tell us why you chose the name ACTA and the meaning of this name?
Artautas Jasinskas: Yes, we have been through rebrand recently, the main reason was that our previous name was Ada Finance — which alludes only to Cardano, while we are developing on 2 chains now — so we needed to do something aboutt this — that’s why we rebranded. As for name meaning: deeds over words — we like action and deliveries so this name suits our team’s personality
Q8: Can you briefly explain the use-case of your Token. Most of the investors their tokens after the initial exchange listing. So, can you tell us that how you will prevent this? Do you have a vesting period for Private sale and IDO investors?
Artautas Jasinskas: Our token has several utilities: Affiliate Program, DAO Program, Launchpad, Lending.
Q9: Security audits are extremely important for any project, especially DeFi protocols that deal with user funds. So, can you explain if your project has been audited to convey confidence and security to the crypto community that is interested in investing in your project?
Artautas Jasinskas: Hi, yes — we are very carefull and we want to amke sure that we are audited by industry leading audit companies. Right now we are in progress of our smart contracts audit and will definetly share good news when audits are completed.
Q10: Can you tell us for your project tokennomics? What is the total supply and how much will your team lock up? And is there a system like token burning in the future, to increase your token price and token scarcity?
Artautas Jasinskas: our tokenomics is explained here — https://docs.actafi.org/acta-finance/tokenomics/acta-tokenomics
Q11: So many projects just currently have a goal to work on in the short term, and what are you focusing on right now?want to talk about “long term vision and mission” but does Acta Finance
Artautas Jasinskas: We are here for a long run — we have internal roadmap for upcoming 2 years. Currently we are focusing to bring our affiliates to mainnet.
Q12: You stated Actafi staking is on testnet ,Is the team open to receiving comments from the users on what is to be improved on?
Artautas Jasinskas: definitely we are open to receive comments from our community members.
Q13: IS Your platform suitable for crypto beginners? Or does it only limited for professional users?
Artautas Jasinskas: definitely suitable. we are working hard with our UI/UX team to make it user friendly and easy to use.
Q14: Every project must have a Vision and Mission so that the project will grow, a project that does not have a Vision and Mission will make the project fail, so what is BashoSwap’s Vision and Mission
Artautas Jasinskas: Our vision for DeFi is to give more choices and opportunities to the users, meanwhile keeping them in control over their assets. Passive earning opportunities should be transparent and free of manipulation through the use of blockchain technology and smart contracts.
Acta Finance brings new vision to the DeFi products. The ActaFi Swap that automatically taps into the liquidity of an asset on each network it is issued, through the use of token bridges as a secondary function (call) on the backend, and aggregating that liquidity so the users receive the best price possible for their asset.
Our goal is to offer DeFi innovation to two emerging ecosystems, Avalanche and Cardano, by developing a cross-chain ecosystem. Acta Finance introduces a Referral Program, Address Milestone Rewards, DAO program, and peer-to-peer lending to maximise passive earning opportunities for the users, while incentivising platform growth and activity.
You can share with us the link for your #project in all these projects???💥
Q16: Does ActaFi have multi-chain support? Which chains do you support to raise liquidity? What solutions do you have to support interoperability with other chains?
Artautas Jasinskas: Currently we are developingg on Avalanche and Cardano. To support to support interoperability with other chains we are building token bridges.
Q17: As we know No one can guarantee the security of Smart contracts. But Audit plays an important role in figuring out known smart contract bugs. So Can you tell us how strong your security system is? And Have you done an audit by a third party before?
Artautas Jasinskas: Yes, we are going through audits right now — we do believe audits byt 3rd party are crusial to our success.