Space Summary
The Twitter Space @crossfichain AMA: Road To Mainnet! – $200 GA hosted by bsc_daily. In this captivating Twitter Space session focused on CrossFiChain's journey to Mainnet and offering a $200 GA prize, participants delved into the exciting developments within the crypto space. The discussion highlighted the importance of AMAs for community engagement, the value of sharing industry insights, and the benefits of collaboration with experts. Through interactive platforms like Twitter, the event provided a gateway to industry news and fostered networking opportunities. With a focus on Unique Projects, the session showcased the significance of building partnerships and knowledge-sharing within the crypto community.
For more spaces, visit the Unique Projects page.
Space Statistics
For more stats visit the full Live report
Questions
Q: What is the significance of CrossFiChain's Mainnet launch?
A: CrossFiChain's Mainnet launch is a crucial step towards achieving its development milestones and enhancing blockchain functionality.
Q: How do AMAs benefit participants and projects?
A: AMAs provide direct access to project insights, updates, and an interactive platform for engaging with the community.
Q: Why are GA events important for community engagement?
A: GA events incentivize participation, foster community growth, and increase visibility for projects.
Q: What value does sharing Crypto Daily News and Featured Projects bring?
A: Sharing industry news and projects offers valuable insights and updates to audiences interested in the crypto space.
Q: How can social media platforms like Twitter be leveraged for project announcements?
A: Twitter provides a broad reach to announce updates, connect with the community, and amplify project visibility.
Q: Why is collaboration with industry experts and projects beneficial?
A: Collaborating brings diverse perspectives, knowledge-sharing opportunities, and expands networking possibilities within the industry.
Q: What opportunities do business proposal contacts present?
A: Business proposal contacts indicate openness to partnerships, collaborations, and opportunities for growth within the crypto sector.
Q: How do audience engagement links enhance participation?
A: Incorporating links promotes audience interaction, encourages engagement, and facilitates access to relevant information.
Q: What rewards can participants and projects gain from engaging in AMA sessions?
A: Participants benefit from direct insights, networking opportunities, and projects gain visibility, community support, and feedback.
Q: How does hosting educational sessions like AMAs contribute to knowledge-sharing?
A: Educational sessions like AMAs facilitate information exchange, promote learning, and foster dialogue among participants in the crypto community.
Highlights
Time: 00:15:42
CrossFiChain's Mainnet Launch Preparation Insights into the upcoming Mainnet launch and its implications for CrossFiChain's ecosystem.
Time: 00:25:18
Value of Interactive AMAs Understanding the benefits of interactive AMAs in providing direct engagement with project teams.
Time: 00:35:50
GA Event Incentives Exploring the significance of GA events in driving community engagement and participation.
Time: 00:45:30
Crypto Daily News Updates Insights on the latest news and developments in the crypto industry shared during the space.
Time: 00:55:12
Social Media Outreach Strategies Strategies for leveraging social media platforms like Twitter to reach and engage a broader audience.
Time: 01:05:27
Collaboration with Industry Experts Benefits of collaborating with industry experts and featured projects for knowledge-sharing and networking.
Time: 01:15:45
Business Proposal Contacts Opportunities presented by the availability of business proposal contacts for potential partnerships and collaborations.
Time: 01:25:10
Engagement Links and Participation The importance of incorporating engagement links for audience interaction and information accessibility.
Time: 01:35:20
Rewards of AMA Engagement Rewards and benefits for participants and projects engaging in AMA sessions for knowledge-sharing and community building.
Time: 01:45:55
Educational Value of AMAs How educational sessions like AMAs contribute to knowledge-sharing, learning, and community engagement.
Key Takeaways
- CrossFiChain is gearing up for the launch of its Mainnet, marking a significant milestone in its development roadmap.
- Participating in AMAs can provide valuable information and updates directly from project teams and industry experts.
- Hosting GA events can incentivize audience engagement and attract new participants to the community.
- Creating a space for Crypto Daily News and Featured Projects offers a platform for sharing industry insights and updates.
- Engaging with the audience through interactive sessions like AMAs enhances community building and project visibility.
- Utilizing social media platforms like Twitter can effectively reach a broader audience for project announcements and updates.
- Collaborating with industry experts and featured projects can offer diverse perspectives and valuable knowledge to the audience.
- Providing business proposal contacts indicates opportunities for potential partnerships and collaborations in the crypto space.
- Incorporating links for audience participation and further information enhances accessibility and engagement during the space.
- Exploring AMA sessions can be a rewarding experience for both projects and participants, fostering knowledge-sharing and networking in the crypto community.
Behind the Mic
Introduction to the Event
Okay. Hello and welcome everyone, back to another AMA with BSc Daily. My name is Dale and I'm going to be your host for this event. Today is amazing Monday, I gotta say, October has been doing is very good. It's truly October. The market has been pumping up really good. Market is all green right now. I hope that the altcoins or the coins, bitcoins that you are holding are all pumping up to your likings and hopefully that we are approaching this quarterfall of 2024 with a bang. That's what I really hope for. I mean, the market is looking like that, right? And everything, every news that's coming out in the next couple of days and maybe weeks all prove that all go to the same direction of greenish. And so with this amazing market in this week to open up, this wonderful week we have over across finance, they are honestly, they are doing a lot of things.
Excitement About the Market
They are amazingly huge on different countries as well. What they're trying to do is redefining DeFi with real world payments. I'm very excited to have this conversation with Filionaire, the representative from across finance. So first of all, let me just invite him to the speaker and then maybe we'll talk more into that. Hey, Phil. I'm sorry to calling you for calling you Phil. Philip, I think you are now the speaker. Can you maybe open your microphone, say hi to people. Yes, sir. Hello. Hello, GM, everyone. All right? Good day, sir. How you've been doing? So far, so good. Been, been a very busy October for us. You know, obviously, no complaints. I think, as you said, the market's been moving in the right direction, and along with that, obviously comes a lot of momentum, a lot of activity, and, you know, just generally sort of a lot of things that we've been focusing on that I'm really excited to talk about.
Upcoming Mid Net Launch
But, yeah, so far so good, brother. Fantastic. And I guess the biggest news right now for cross finance is that after years of testnet and preparation, you are now approaching the mid net and it's happening in less than one day now. Honestly, that must have been a crazy day. Well, crazy month for you and the founders and team as well. Yeah, absolutely. I would say it's been an absolutely crazy five years leading up to this moment. We have really been, you know, building this product, this ecosystem, you know, everything, along with the technology, the partnerships, the infrastructure, all of the development and the business development that has gone into this. I mean, we have really been working our way up, you know, for the past five years. And so to get to this moment is. Feels absolutely surreal. And I. And, yeah, like you said, super exciting.
Crossfi's Journey to Mass Adoption
Very, you know, very keen on really getting everything that we've been working on out into the public and getting the public's feedback. And I think, more importantly than anything, you know, finally being able to provide the value that we've been working on for so long to the general public. And, you know, our goal at Crossfi, I think, has always really been mass adoption of crypto into society. And so I think for us to finally get to this moment, to be able to realize that has been nothing short of spectacular. I agree. I agree. And I got to say, too, within that five years, you guys are non stopping. You guys are expanding your communities in different countries. I see you guys are holding a lot of events offline, online events as well, attracting, I would say, thousands of people each event that speaks volume, what cross finance is trying to do.
Community Engagement and Rewards
And again, we are diving too deep right now in the project without introducing ourselves first. But because I'm very excited for this one. But, yeah, just to dial it back a little bit, guys, we have dollar 200 in rewards for you guys as listeners right now. So if you would love to receive the rewards, go ahead and follow. Fill in there on his Twitter account, personal ones, and follow Crossfire chain on their ex account. You can follow that by go to the pin post up here, on the space, and just go to their website if you want to join the telegram. Most definitely. Right. Be a part of an amazing community. That's how you're going to win the $200 rewards. And if you have any amazing questions, focus questions about cross finance, about the plans mid net, how they're going to achieve mass adoption with their features and products, go ahead and leave it down in the reply of this space right now.
Rules for Questions
We will make sure to select the five best ones to answer. But please do not spam. Okay. Do not spam. Maximum five questions each. If you know you send more than that, we have to block you for our future mas because that will be spamming. But, yeah, those are just the rules. Thank you very much. Yeah. Just again, Philip, do you want to start us off with the introduction part so, you know, maybe introduce yourself, your past experiences and. Yeah, what crossfire is, in brief? Absolutely. So my name is Phil, chief growth officer here at Crossfi. I have had a wealth of experience in the crypto industry since about 2016.
Phil's Background and Experience
Started as an early investor in bitcoin, Ethereum, and then, you know, obviously have gone down the rabbit hole of just the world of crypto and kind of everything it has to offer. I've worked with a lot of different companies in the crypto space, helping them grow their communities, acquire customers, and eventually create the flywheels that basically lead to those companies scaling and becoming proliferated into society. I was one of the first marketing consultants to work with a company called Decentraland. I helped coinlist very early on with their marketing strategy and some of their digital presence. Since then, I've basically gone on to work with dozens of companies in the crypto space, both big and small. Spent a couple of years at binance overseeing growth of their defi ecosystem.
Insights on the Evolving Crypto Space
So I've had a lot of exposure to the crypto industry from all different angles from, I would say sort of retail consumer based products to kind of more crypto native products, to defi degen products and everything in between. And so I think I've seen the space evolve. I've seen the ecosystem grow from something that was very nascent and very niche and kind of the community was so small at a certain point to at this point something that I would say in this current market and this current bull run, we are really seeing it sort of move into kind of something that is closer to what we would like to call mass adoption, something that is more prolific within society. And I'm just personally very excited to see kind of where the space goes, how it continues to enmesh itself into everyday society and kind of how it continues to grow and occupy the place in society where we as crypto natives all believe it should.
Crossfi's Mission and Team
That's quite a portfolio you have over there. And I would say that's very fitting. And that's, I mean, I guess, yeah, that's why you are the chief growth officer, I guess, for cross finance because as you said, you have experiences in different environment, right, from centralized chain as big as binance to retail products to some of the more DGN DeFi stuff and cross finance they are, again, they are doing a lot of things under the hood being a repayment, I'm sorry, payment, being also having NFT collections and all that. But yeah, we'll talk about that in a little bit. Just saying. Okay, so what about maybe let's talk more about the team, the other team members, the other masterminds behind cross finance and their professional backgrounds as well.
Team Composition and Expertise
Who are the other core team, I guess. Yeah, absolutely. So we've got, you know, I've got pretty large team, over 70 folks at this point. We have people basically from all over the world of web three who have a variety of different experiences. You know, I think with a product like CrossFi, it's really important that we not only have, you know, kind of the sort of web three, both builder and Biz dev experience, but also the traditional banking and finance experience. So we brought together, I would say, a team of power players from all over the industry. We have Alexander Mamasidikov, who is the founder of Crossfy. He's worked with at this point, I would say, well over probably 100 different projects.
Founders and Key Contributors
He has done everything from government web three consulting to building fintech companies to working in the web three space over the last decade, really, you know, prolific person in the world of web three who has, you know, brought all these a players together. You have Ryan Horn, who also ex Binance. You know, he used to be the director of NFTs at Binance. He has signed some of the biggest deals that I think the world has ever seen as it pertains to web three in the world of sports and entertainment. So, know, we have that experience. We have folks coming to us from the traditional banking and payments infrastructure background who have spent decades working with banks, working with finance companies, and so obviously deepening those relationships between Crossfy and our banking partners.
Innovators in the Web3 Space
And then we have builders from all over the web three space coming from some of the, you know, biggest companies in web three that you've ever heard of. We recently brought on board Ali Musa, who's coming to us from Arbitrum, who's sort of working on our foundation infrastructure and our ecosystem. And so, you know, I think the key to what has made Crossfire so successful is really the team of power players and, you know, the folks that we have brought on board to help build this thing and to help facilitate this dream and making it become a reality? So, yeah, great question. I think the team is really what powers a lot of our success and what has really been instrumental in helping build such a robust product and such a robust ecosystem.
Crossfi Ecosystem Overview
Right. And at this point, I would certainly tell people to check out their website because all the information is public. The team members, they were docs fully. And so in terms of trust, the team is top tier. And if you want to look at some other things like their products and the visions before you ask the questions, you are free to do so. Check them out on their documents. Everything is available, everything is transparent. And so my next question for you would be, okay, so now that we know briefly what cross finance trying to do its vision, briefly, do you want to talk about the products that cross finance currently offers, how big they are. Basically talk about the ecosystem, anya.
Insights into the Crossfi Product Suite
Absolutely. So Crossfi, like you said, Crossfy is an ecosystem. Crossfy has a very wide suite offerings for all kinds of different users. First and foremost, everything is based on the Crossfi chain, which is a layer one blockchain. The Crossfi chain was built to support our flagship payment product that I'm going to talk about shortly. But basically we built the chain to make sure that we are able to support a payments infrastructure that is secure, that is speed efficient, so quick transactions, and something that is scalable, so being able to process millions, if not hundreds of millions of transactions. And so after, people always ask me, does the world really need another layer one blockchain?
Unique Value Proposition of Crossfi
And I always tell them, in building our products, we have done a lot of research and development and trying to understand what other chains are really able to support the infrastructure that is needed to build something like our payments product, which I'm going to talk about shortly. And we truly, after so many months and years of testing, were not able to find a blockchain that could support the infrastructure needed for a project like ours and also be able to support the bare minimum standards that our banking partners required for us to be able to uphold in order to truly be able to work with us in a scalable, secure and efficient way. First and foremost, we've got our layer one ecosystem, or blockchain.
Diverse Ecosystem of Products
And then around that blockchain we have a very diverse ecosystem of products. So like any l one blockchain, we've got a suite of defi tools for the Degens, something for everybody. We've got our lending protocols, borrowing protocols, swaps, yield aggregators, so on and so forth. So something to support basically people coming in and being able to really interact with the ecosystem and be able to, you know, kind of benefit from it the way that, you know, a Defi native would expect to. But then on top of that, we work with some of the most innovative teams in the entire industry from a product building perspective, that are building some what I would say are mind blowing products on our blockchain.
Building on CrossFI Infrastructure
And some of the things that I see that are currently being built on top of the crossFI infrastructure are things like rwas, are things like synthetic assets. I mean, these are things that are really pushing the boundaries of what is possible in the world of deFi. And so watching these things come to life and watching these teams leverage the infrastructure that we've built has been nothing short of tremendous. And then last but not least, I think the. The part of our ecosystem that was most appealing to me, which is why I decided to join the team. And the thing that I think will get us to the point where we are helping drive mass adoption, is our flagship payment infrastructure.
Non-Custodial Decentralized Payment System
And so what we've managed to build, and this is truly special, what we've managed to build is a fully non custodial, decentralized payment system that allows you to spend crypto out of your web three wallet at any traditional point of sale terminal in the entire world. And so the way that it works is any web three wallet, like, trust wallet, brave wallet metamask. You connect it to the Crossfy app, you hold a certain amount of tokens. So you basically tell the Crossfy app, this is the amount of tokens that you can access, and this is the amount of tokens that you can spend out of my wallet. And then through the crossfire app, you can either generate a virtual, a debit card order a physical debit card and basically be able to transact at any point of sale terminal.
Real-Time Crypto Conversion
Whether you're paying for gas or buying coffee or buying groceries, you are able to pay for those goods and services with your cross buy card, which automatically converts the crypto in your web three wallet to the local currency in the geography that you are spending in with a flat transaction fee that is extremely competitive, as you know, as it pertains to current payment products, basically instantaneously, in real time, the same way that you would with a regular credit or debit card. So, truly something special. And obviously, I think all of you guys are familiar with crypto payment products. I mean, they've been around for a long time, but I think what really is the big differentiator, or a few differentiators from the existing products with Crossfire is that, first and foremost, Crossfire is completely non custodial.
Security and Decentralization
So you do not need to move your coins into any other infrastructure. So you do not need to move your coins to an exchange. You know, you have your exchange cards, but you have to have your tokens living on the exchange. You do not have to move your tokens into some sort of wallet or some other infrastructure that you're not familiar with. So, again, you know, I'm a huge believer in not your keys, not your coins. If you do not hold the private keys to the wallet where your tokens are sitting, then those are not your tokens. And so Crossfire is a huge believer in that. And that's why we support fully non custodial wallets as part of our payments infrastructure.
Relationship with Banks
And I think the other huge differentiator is that CrossFi is decentralized and works directly with banks. So we do not work with third party partners that then kind of connect us to the banks. And so we are not at the mercy of third party partners like some of the other payment crypto payment products that are out there. And so basically, you know, if one of these competing crypto products, if one of their third party banking partners goes down, then that's it. You have a functionless product that all of a sudden the entire infrastructure that you have built just doesn't work anymore. We have spent the last five years forming deep relationships with banks in order to be able to, obviously make sure that banks are able to interact with our smart contracts.
Security Compliance with Banking Standards
All transactions are being processed completely on chain, and I think most importantly, making sure that all of this is safe, secure, scalable and compliant, because obviously our banking partners, they require a certain level of security, of scalability and then, of course, compliance across the board, because banks are the financial, the tradfi ecosystem is one of the most heavily scrutinized ecosystems in the world. And so for us to be able to work with these banking partners directly and to ensure the fact that we are compliant with all of their policies, with all of the local government policies, with, you know, pretty much everything that is required of us to be able to provide these services has been, you know, definitely has been one hell of a ride over the last five years.
Mainnet Launch Excitement
And, you know, coming into Mainnet, I think we're all excited as a team. And our community across the world is extremely excited for the world to be able to, you know, witness what we've managed to accomplish and also be able to get their hands on our technology and be able to use it in their daily lives. Right, right. Amazing breakdown, actually. I actually have a few comments about that, too, just to show the brilliance of the teams. First of all, about the lay one blockchain. And as you see the trends going right now is the development of app chains.
Adoption and Infrastructure Limitations
You see the biggest defi player in the space, uniswap. They're developing their own uni chain to support their own payments, I'm sorry, transactions and everything. And I completely agree with you when saying that if were to have more adoption in the crypto space, then the current infrastructure is unable to support millions, not to mention dozens or even hundreds of millions of transactions. We see lots of lags, traffic jams, a lot of, well, if you actually look at Ethereum gas right now, we're at dollar 20 per transaction on Ethereum. That shows the level of incompetence when it comes to handle large amount of transactions.
Vision for Mass Adoption
And, and so, you know, cross finance with your vision of onboarding, of mass adoption. Right? Onboarding millions, maybe someday billions of people. Then you have to build your own layer one from day one. And that is, I would say you guys are very ahead of the game and you guys think everything through and I appreciate that. Right. And the second thing that you have is the app. I would say that's one of the best demonstration of the app that I've heard. It's amazing. It's where, honestly, where defi meets real life.
Real-World Utility of CrossFi
A lot of people will say, hey, it's Internet money. It's in your online wallet. You can't do nothing. But now with cross finance, people can actually pay for stuff in real life. I actually saw a video of, I would say that he's like a member or maybe a youtuber of your team, maybe a fan, I don't know, member. He actually paid for a coffee using your cardinal. That was some of the best thing that I've seen. I know that there are other cards out there in different countries that are able to do that, but seeing that in action with cross financing, everything goes through like that.
Anticipation for Card Utilization
I don't know, it's just very happy that we see that level of utility of real world adoption with Defi. And I'm very eager to get my hands one of those cards. And so talking about that real quick, how do we, you said, you know, minutes coming up, obviously one day from now. But, you know, we see people actually are paying for stuff with that card. So can you tell me how that can happen? Because that right now it's your testnet, right. And people can actually pay with stuff with your testnet. And if yes, then what's the difference between paying for stuff with Testnet and then Mainnet?
Testnet Infrastructure Functionality
Yeah, absolutely. Great question. So while were in Testnet, our goal was to figure out, okay, can we deliver on the promise, right? Can we actually put these cards out there in the wild? Can we sort of use the existing infrastructure that we've built in order to support these payments going through, support them going through in different amounts all over the world at scale quickly, basically stress testing the ecosystem. And that was kind of the whole point of the testnet across the board was not only stress testing the blockchain that we had built with all of the different users and developers and validators that were working on the blockchain side, but also sort of stress testing the card infrastructure.
Card Distribution and Early Access
And so what we did was we put out 5000 cards and this went out to our team, this went out to family members of our team, this went out to early community adopters, early supporters, basically anybody that has been with us since the beginning. And we put 5000 cards out into the wild and we obviously gave people early access, so test flight access to our application and helped onboard them and sort of put them into the ecosystem as any user would sort of join the ecosystem during namenet. And we said, go crazy, right, spend your crypto all around the world.
Successful Transactions Across the Globe
And so like you said, you know, one of the most beautiful things after so long of building this infrastructure was seeing people making transactions in Dubai, in New York, in Los Angeles, in South America, in Europe, in Asia, Vietnam, China, Japan, you know, seeing transactions successfully going through all around the world, multiple transactions at one time. Different stores, people buying coffee, people buying luxury goods from stores like Louis Vuitton, people paying for gas, paying for groceries, like I said. And the goal with these friends and family cards, testnet cards, was to see does this work the way that we intended for it to work?
Evaluating Testnet Card Functionality
Does this actually do what we think it should do, how we want it to do it? And the answer is yes, you know, and so basically that's all the videos that you've seen and all of the transactions that you've seen have been from friends and family, from early supporters, from super early adopters that have been with us since the beginning. And so this is the product that is actually launching into main net very soon. Nice, nice. Very happy. And so one quick question about that too.
Pre-Mint of NFTs
Right now I believe you are having a pre mint 2000 nfts available for people. Do you want to talk about this? NFT? Is it for the cards that we talked about? Yeah, absolutely. So the NFT project is really our foray into, I would say, more of a creative space. We, you know, we are a blockchain infrastructure and fintech payments product. Right. So I think as far as our branding and the creative that we're putting out there and sort of what we're doing on just the overall creative side, we're somewhat limited because the goal here is to maintain a brand that builds trust and to basically supports a community of people that are looking to use a payments infrastructure.
Creative Expansion through NFTs
But I think the beauty of having such a powerhouse team is that we have some of the most creative marketers in the entire world on our team. And so we wanted to give them a chance to really flex their creative muscles and to be able to deliver something that is a little bit outside of our, you know, traditional payments infrastructure in order to, you know, I would say one hand, like I said, flex the creative muscle and then on the other hand, you know, penetrate the community of folks that are out there, that their only exposure to the world of crypto is through nfts. They really don't participate in the Defi ecosystem.
Unique Perks for NFT Holders
They don't participate in payments infrastructure ecosystem. And so we wanted to not only appeal to the NFT community, but also give our team the chance to really get crazy, get creative and really put something super cool and beautiful out into the market. And so that's why we've built these nfts. Basically, it's a, it's 2000, it's a limited run of 2000 nfts. They are going to be free to mint just paying for the gas. And basically what those NFTs allow folks to do is they allow them to get early access to, you know, be one of the first people to receive cross buy cards.
Customization and Benefits for NFT Holders
But not only that, be able to customize their cards. So, so these NFT holder cards will definitely look little bit different than the standard crossfy cards, which, you know, we know folks that are in the NFT space, they really value uniqueness and something that is kind of different from the rest of the crypto space. And so we really wanted to make sure that we are putting the art forward. And so giving them the access to their own unique cards, they will also be able to access all kinds of, you know, bonuses within our defi infrastructure. So staking bonuses and the like, you know, and then I think the last but not least as a card product, like any card product out in the world, we have a lot of interesting partnerships in the real world that will allow our card holders to basically receive benefits the same way that, you know, if you hold an American Express or if you hold any other credit card, they have this big infrastructure of partners where if you use your card with these partners, you get these amazing benefits.
Exclusive Bonuses for Card Holders
So discounts, bonuses, free gifts and so on and so forth. And so these NFT holders will be the first people to be able to access the exclusive bonuses from our partners to sort of start testing that infrastructure that we've been building up over the last couple of years. And so, yeah, you know, I think the NFTs are definitely, it's an interesting project for us. It's something that's very special to our marketing and creative team and something that we're really excited to put out there for, you know, people that are interested in NFTs and for the NFT community at large. And you know, I think people that are a little bit more creative focused, that are a little bit more art focused.
Marketing and Creative Approach
And so that's why we developed this collection. Nice, nice. And I really appreciate the fact that you make it as a free mint for the people and on Solana as well. yeah, some like a lot of projects that I've talked to, they took this as another chance to sort of like quote unquote raise funds from the community. So they charged like a lot of money, 0.5 ethereum or maybe 0.1 minimum, to mint one of that NFTs, even though their project is already big with a great community. So I just see that as I don't know, I just don't like that at all, you know.
Community-Centric NFT Distribution
And so the team decided to have it as a free mint. Really nice, really nice. I like that. And people, it's the crossfi vip collection NFT. You can find that in the link up here, pinned on the space, check them out and learn how to be eligible because that's going to be huge. Only 2000 NFT available for eternity. So that's amazing. They have honestly one of the biggest following, so make sure, check it out. Okay, so the next question that I want to ask is, because in one of the utilities of the cards, I think you mentioned briefly, but I'm just going to stress it again, to receive a token airdrop for the holders.
Token Airdrop and Ecosystem Tokens
Okay, now I see that cross finance has the two main tokens, the MPX and the XFI tokens, which are crucial within the ecosystem. So before we talk about the token airdrop, what that is, let's talk about these two tokens first. Like what are these tokens for and what are the differences between the two? Yeah, absolutely. So like you mentioned, we have two tokens within our ecosystem, the MPX token, which is our governance token. There's no liquidity behind the MPX token, which is used to obviously, you know, for governance within our ecosystem. But then the MPX token is used for staking in order to generate XFI emissions.
Overview of XFI and MPX Tokens
XFI is the liquid token in our ecosystem, is the token that powers the majority of our payments infrastructure that kind of our entire ecosystem is built around. And so yeah, very simple. MPX is the governance coin. You stake MPX and then you generate XFI. And then XFI, you can do all kinds of interesting stuff both in and outside of the Crossfi ecosystem system. Huh. Okay. Simple enough.
Documentation and Resources
But like if you want to learn more about the tokens, it's very hard for us to like explain everything in a space session. So again, the best way it's possible to learn about it is through the documents, is it's written on digital paper, so you are free to check it out. Again, their website is@crossfight.org for those who don't know, follow their Twitter and then go to their website for the best possible link. Do not go fall into those scam links and then click on the documents and you can find everything there. But that's the differentiation that you need to know. Okay? Yep.
Token Airdrop Discussion
So let's talk about the token airdrop. What do you mean by we get the token airdrop for the holders? What kind of token do we have? Is it the X file or is it the MPX token? If we hold the NFT, obviously, yeah, absolutely. So don't want to reveal too much because I think part of the allure of the collection is that we are intentionally being very vague about the benefits that users are receiving because we don't want people that are just kind of after the token airdrop or after money. We want people that are actually interested in our ecosystem.
Engagement with the Ecosystem
And if you see the way that we've structured what the process is to be able to reserve one of these NFTs is it's really requiring people to engage with our ecosystem in a meaningful way. And so we've noticed the pitfall with a lot of collections is that they say, oh, boom, you get bonus tokens, or boom, you get these very specific bonuses. And then you have people that almost try to game the system in order to generate some sort of quick profit. Our goal with these NFTs is actually to find users and community members who are going to hold them for the long run, who aren't just going to get them and then quickly flip them and try to generate a small profit.
Long-Term Vision
And you know, I think for us, like, we're less interested in that. Like you said, you know, the goal here is not to generate revenue. We are a sustainable business. We have a great revenue generation model. And so for us, this collection is actually a meaningful way to engage with our community and to find a group of vip holders that are true believers in what we're building here at Crossfire and that are going to support our ecosystem and participate in everything that we're building and, you know, really be able to grow with us in the long run. Which is, again, why we're being intentionally vague about the benefits here.
Intentional Vagueness
Because as soon as, you know, we've noticed as soon as you start being extremely specific, you just get a very certain type of audience that I think we're, again, you know, we're not in it for the short run. We're not here to make a quick buck. We are building a ecosystem and an infrastructure and a product that is going to be around for decades to come. And we want users that are going to support that mission and we want people that are going to sort of be with us throughout that journey. And so that's why, again, right now we are choosing to not disclose too many specifics.
User Benefits
We just are letting people know that you absolutely will. I mean, you know, if you just look at the background planning that we're doing around this collection, the bonuses and the benefits that you receive as a holder and as a user are tremendous. We just want to make sure that we're giving them to the right people. That's fantastic. I would say that's the one of the big fat alpha that you are throwing out here in the space. A lot of people when they look at, you know, this, they'll be like, okay, took an airdrop, but they're not being specific.
Marketing Strategy
Maybe they're hiding something. But no, you actually hit the nail on that one. The team is intentionally hiding that so the real people, the right people would come in and then learn about the project. And once they found out how amazing the project is, how big about of all the planning in the background is, and they will be hooked. And, and I would say that's a good strategy. So guys, go ahead and follow them on their exit count. It's at crosse finance. I hope that we can get honestly, let me see.
Additional Information
Okay, so we don't, but you can, again, you can go to the pin post up here in the space and follow their ex account, join their telegram and check them out on their website. You can also find their token XFI on karmaricap. That's the token ticker. You can buy them on Hobie HTX or Mexc. Those are two exchanges. And then that leads me to my next question. So normal projects, right? Normal projects, they would have their mainnet and then they would launch their tokens.
Cross Finance's Unique Approach
But cross Finance took a different approach. Having tokens released even before the mainnet and so do you want to walk people through the decision behind that? And. Yeah, absolutely. So the, obviously, the infrastructure that we built and the products that we've built on that infrastructure relied very heavily on having a token to be able to process transactions. XFI Token was the main token that we built our entire payment system around. So obviously there was a need to have a token out in the market.
Cosmos Token and Mainnet Launch
Now, the existing token right now, today, is our cosmos token. So it's built on the cosmos infrastructure. The mainnet launch, however, that is happening very shortly, within the next day or so, is actually the EVM compatible version of this token. And so, you know, from the beginning, our goal was to build a dual system. Both Cosmos and EVM compatible is going to provide the widest range of benefits for our users, for developers, for validators.
Mainnet Launch Details
And so the XFi token that is currently out in the market is the cosmos version of the token. And then once we launch into Mainnet, we are going to have Cosmos EVM compatible version of the XFi token. So that was kind of the stepping stones of the building process leading up to mainnet launch. I see, I see. Okay, so, yeah, leading up to the mainnet launch, I mean, we kind of postponed this question for quite some time now because we want to introduce the project and talk everything about Crossfire.
Anticipation for Mainnet Launch
But now is the big question. So the minute is happening tomorrow in one day's time. Exciting, exciting. So what can we expect from these major events? How can the users contribute to the network? Great question. So, obviously, you know, first and foremost, follow us, follow our team, you know, join us on x, join us on Discord, join us on Telegram. To be the first to kind of know when we actually launch our main net.
Expectations for Launch
And I think as far as expectations go, you will see us putting out the calls to action. So we are going to be launching our payments app. We are going to be launching the EVM compatible portion of our blockchain. We are going to be announcing some major partnerships that weve been working on in the background leading up to mainnet launch. And then, of course, a bunch of other things that I cant quite talk about right now until they come out into production and until they come out live.
Follow Us for Updates
But I think the most important thing is you definitely want to make sure that you're following us across all of our different profiles where you choose to get your news. Because if you're one of the first to, you know, kind of, if you're one of the first to go to the call to actions, you will sort of, you know, receive the biggest benefits. And then, you know, of course, I think, like, with any ecosystem that is launching into Mainnet, I think you will definitely be seeing a, a lot of news about Crossfi over the coming weeks and months as we announce some of the, I would say, major, both product side of things, infrastructure side of things, partnership side of things.
Long-Term Vision
And like I said, we've been working on this thing for five years, so sure as hell, we have a lot of things to talk about that we couldn't talk about up until mainnet launch. Yeah, just very exciting news overall, and just make sure that you're following us everywhere to stay up to date and stay on top of everything. Amazing. Okay. Thank you very much, Philip, for answering my questions.
Community Questions
I have another one, but I found a community questions that's also about this one. And so I'm just going to move on to the second part, living the chances to ask questions to the community. And so, again, in this part, guys, you get to ask five questions to Phil about, obviously, cross finance, their plans, their tokens, their payment system, their cards, NFT, everything that you want.
Question Guidelines
Okay. But it has to be specific about the project. And maximum five questions. Do not copy it from anywhere else. We will definitely detect if that question is copy or not. And if you did indeed copy the question, we will not give you the rewards. So make sure to have original questions. Thank you very much. And so, Philip, so here's how we're going to do it. As you can see in the reply, a lot of people are sending their questions.
Choosing Questions
A lot of them are spams, obviously. Just ignore the spam ones. I will help you select the questions. I will read it out loud. If you don't want to answer that question, just let me know, and then I'll select another one. Okay, sounds good. Okay, cool. So the first question that I found is from Rolex. I like the name.
Post Mainnet Launch on the Roadmap
So the question is, so the post mainnet launch, what are the next big milestones or features on cross finance roadmap for 2025 and beyond? That's a great question. Thank you very much, Rolex. So, post mainnet launch, I think, for us, most importantly, is to continue delivering value and utility to our community. So, like I said, both in terms of cardholders, we have a lot of different partnerships and benefits that we're going to be delivering to cardholders.
Long-Term Goals
Making sure that people that are holding Crossfy cards, you know, basically are using their Crossfy cards on a daily basis because they are incentivized to do so. And they, you know, basically are holders of the best possible payment infrastructure in the world. And so a lot of interesting partnerships around our cards. Then, as far as the blockchain and the ecosystem, our team has been working extremely hard, almost on overtime, to deliver a ton of value as it comes to different products that are available on our ecosystem, on our blockchain.
Upcoming Partnerships
And so we've got a ton of amazing partnerships, partnership announcements lined up over the coming months and over the coming quarters. And then, of course, as I mentioned, we are definitely working with some of the most innovative teams in the world of DeFi to build just some crazy products that I think are absolute game changers for the DeFi space in general. And so we are going to be bringing those to market and helping those teams really get the word out there and making sure that all of our users are able to access them and benefit from them.
Exciting Year Ahead
Definitely a very exciting, I would say, year coming up for Crossfy. And of course, as we're heading into what seems to look like the beginnings of a bull run, I think just a very exciting time for anybody that's currently in the world of crypto. And so really trying to bridge that gap between people that are sort of crypto natives and then people that are to crypto, and being able to provide products and use cases and benefits for everybody is really kind of the big goal that we're aiming for in this coming year.
Introduction and Developer Contributions
I appreciate it. Then the next question is from Carl Astro, I believe. And the question is, how can developers contribute to or build on Crossfit shin what tools or SDKs are provided? Absolutely. Thank you for that question. Great question. So we currently have all of our technical information documented. If you go to our website, crossbuy.org, you can find all of our technical documentation. We also have a very robust developer evangelism program. If you join our discord server, you can speak directly with members of our team that are, you know, basically their sole focus is to support developers and people that are interested in building products on the Crossfy blockchain.
Crossfy Foundation and Support
And then last but not least, there is also the Crossfy foundation, which is a separate entity from the team that is working on the blockchain and the payments product. But the Crossfy foundation basically is there in order to support the growth and the development of the CrossFI ecosystem. Crossfire foundation has a lot of good incentives and grants, both in terms of financial support, as well as technical support and distribution support, to work with amazing teams that are interested in, you know, in building great products on the CrossFI infrastructure. And so I would say, you know, you can check out all three of those things, our website, our discord server with our developer evangelist team as well as our foundation.
Developing on Crossfy Ecosystem
And so, you know, I would say those are really good starting points for anybody that's looking to develop projects on the CrossFi ecosystem. And I think there that will be your entry point to get all of the support that you need to be able to be successful on Crossfy. And of course, you know, I would be remiss to say, I would be remiss if I didn't say that we are always looking for the smartest, the best and the most talented developers out there in the web three ecosystem because we really believe that we have built one of the best blockchains on earth as it comes to speed, security and scalability.
Potential in Game Development
And we want to see the types of amazing projects that people are going to build on top of Crossfire. Thank you very much for the question Colestrow yeah, but who knows, you can be a game developer and maybe have some sort of opportunity with Crossfire too because besides the, you know, the payment app that they have with the web three up with the banking industries, they also have like a defi app, right? That people can actually stake and do some, all sorts of Defi activities on it. So maybe in the future if you have some sort of gamified system on there, that'd be fantastic.
Diverse Developer Community
Like personally, we actually, by the way, so we, you know, I talk about kind of like the innovative DeFi project we're building on top of Crossfire. But man, we have so many different types of developers. We have Gamefi folks building, we have AI folks building, we have deep end projects. I mean we've got so many different types of teams developing on crossfire and we have specific folks that are responsible for different verticals. And so obviously as you come in, depending on the type of project that you're building, we have kind of our specialists to help support any sort of infrastructure.
Support Beyond Financial Projects
So great point. I think to your point, we support not only defi and financial projects, but anything is welcome. Gamefi, AI, Deepin, so on and so forth. The list goes on. So yeah, great call out. Yeah, because I look at how ton grows so big in the past, just in a couple of months, bigger than ever, right? Because of the game and how easy it is to onboard people to play games. But the crucial problem with time is that after the airdrop people just leave and some of the airdrops recently is very disappointing.
Challenges in Retaining Users
The people just basically lost faith in the town ecosystem and the games in general. What if there is, what if, first of all, on your app, what if there is a game that can basically attract people, and then they play and they get the airdrop, but then the airdrop is not going to be disappointing. Why? Because they can use the token to basically perform any sorts of defi activities to pay for stuff, coffee, whatever, in real life. And so that's, like, amazing. Like a, like a major utility that I think would, you know, just let people stick into the app and, you know, play more games and earn more tokens.
Anticipating Future Growth
I think that's a fantastic idea, but who knows? Let's wait for the. Yeah, let's wait for the execution. Thank you very much for the question. That was from cholesterol. And the next question is, from here we go. Loba pox. Okay, cool. The question is about your card. So if I use Metamask or trust wallet with the crossfire card, do I need to set permissions for each transaction, or does the app just pull from the pre approved token balance on demand? Great question.
Crossfy Card Functionality
Yeah, it pulls from the pre approved balance. And so basically you hold a certain amount of tokens. Once that hold has been sort of, you've hit the cap on that hold, you will then need to approve another set of tokens to hold. But until you've hit that hold cap, you can continue making transactions. And so you. You only technically have to allow a hold once, depending on the volume. But we've built that feature in for safety and security. Right. So just in case you want to be careful and you only want to hold a very limited amount of tokens, the Crossfy app is unable to access more tokens than you have specified to hold.
Security and Compliance
Yes. Thank you so much. A little box for the question. I hope that answers it. The next one is from Tapxo. Okay. Question is, how does Crossfire integrate with traditional payment processing systems? What are the challenges and advantages of bridging the gap between blockchain technology and traditional financial infrastructure? Great question. So, like I said, over the last five years, not only have we been working on kind of the technical development of the products themselves and the blockchain, but we have also basically spent the last five years doing the business development work in order to work directly with, like I said, with our banking partners, rather than going through a third party integrator basically, or connection partner.
Direct Banking Partnerships
And so the connections that we have built with our banking partners are extremely integrated, meaning that we are natively using their technologies and banks are interacting directly with our smart contract. And so everything is built in a way that isn't sort of blended together using a third party tool, but is sort of natively integrated into the banks. And I would say the biggest advantages to that is that we are not vulnerable to a third party partner basically going out of business and all of a sudden, our entire infrastructure that we've built isn't working. So that's first and foremost.
Advantages and Security Standards
Secondly, less points of failure, I think, throughout the entire supply chain of a transaction. And so, you know, we are able to basically stay, our uptime is more consistent. And I think last but not least, from a security perspective, you know, Crossfire as a team, as a, you know, product, we've invested a lot of effort to basically be able to achieve the minimum security standards. Well, just not just the minimum ones. Minimum and beyond that are required by our banking partners to be able to have the level of safety and security that they need in order to be able to work with us directly, even to the point where as of recently, we are now PCI DSS compliant, which is one of the most stringent security protocols in the entire financial payments industry.
Meeting Market Standards
And barely any other payment product, crypto payment products out there can, you know, can claim that they are PCI DSS certified. So, you know, for all of those range of benefits. That's why we chose to go this route and that's why we've kind of built the infrastructure the way that we have. Nice. Yeah, I was about to have. While I was about to select that question, actually, this member was asking, well, Henry was asking about, you know, how does Crossfire app comply with the international security standards like PCI DLS to safeguard customer payment data? Do you want to talk about it more or should move on to another question?
Commitment to Security and Compliance
Yeah, I mean, you know, just as I think it is important, because, like I said, we put a lot of emphasis and resources and focus, and, you know, for anybody that knows security protocols, PCI DSS is one of the hardest certifications to get. And so, you know, that says a lot about how much we've invested in really being able to let our users feel confident that we are protecting their information, that we are securing their transactions, and also making sure that our banking partners are confident in the fact that we are doing everything that we need to do in order to be fully compliant with the security standards that they expect.
Proactive Approach to Security
You know, I would say PCI DSS is just the latest one, but really, over the last few years like that has been a major focus of ours is investing into third party audits, into penetration testing, into stress testing the network, into basically everything that you would expect us to have done and then a lot more in order to basically guarantee our users the safety and security of, you know, of being able to have confidence in our products. Okay, I guess that's the fifth question from Henry. Thank you very much for the question. I hope that you learn a thing or two about PC ideas, but if you want to learn more, go ahead.
Closing Remarks and Future Events
And Google is free, right? But, yeah, they are. Yes, sir. International security standards, they are compliant. So very safe, very secure. Thank you very much, guys, for sending your questions. Philip here has answered five questions from the community, and I am selecting five more as the lucky listeners. If you want to be selected as lucky listeners and share dollar 200 in rewards, make sure to follow crossfire chain on their eggs. Join the discord or telegram or both, and check them out and do your research. Thank you very much.
Acknowledging Contributors
With that being said, we're now closing our, you know, at the end of our AMA. So do you have anything as closing remarks or anything else at all that you'd like to reemphasize? I just want to thank you for an amazing conversation. I want to thank all of the community members who tuned in and, you know, all of the great questions. I will have my team go through all of the questions that were submitted, and, you know, obviously, anything that isn't spam, I will have my team answer. Make sure that, you know, everybody has all the information they need to be successful and to, you know, be able to interact with Crossfi in a way that sort of is mutually beneficial.
Encouragement to Engage and Stay Updated
And then, of course, like I said, you know, follow me here on xofillionaire. Follow CrosSFI, Rossfi chain, join our discord, join our community, participate in, you know, all of the engaging things that we do. And, you know, I would say stay tuned for some amazing things to come in the near future. Thank you very much. It's been an absolute pleasure having this conversation, and I'm really excited to, you know, hopefully come back in a few months and give you some super exciting updates about what we've been doing.
Final Thoughts on Upcoming Developments
I can't wait. That launch when what we've been building, how we've been doing, and, yeah, we'll. Be followed closely because, like, it's happening right now. One day left it for the mid net. It's got to be an amazing time. Five years, all leading to this moment right here. So guys, go ahead and check them out. You are not late. You are very early into cross finance. Check them out on across all of their socials.
Closing Promotions and Gratitude
Check out their token right now, available on HTX and MbXe. Check. And also the NFT collection, 2000 of them, unique and limited. Okay. The rewards are immense. And so check them out. Free mint, by the way. Again, amazing. And thank you very much, Philip, for being here with BSc Daily community. It's been an amazing chat, obviously. And you are amazing representative, chief growth officer for cross Finance. And I hope that after the minute, you guys are going to be even more and more successful achieving more and more milestones in 2025. So, yeah, good luck with everything, and I'll see you in our next AMA.
