Thank you to everyone who joined AMA Blockelite x The Industry Network on 28th May at 10:00 AM UTC I 05:00 PM (UTC+7). Here is the recap for those who missed this AMA.
Our special guest today is Nelson – Team/Marketing co-lead of The Industry Network
Segment 1: Introduction about The Industry Network and Nelson – Team/Marketing co-lead of The Industry Network
Q1: Can you briefly introduce yourself as well as about The Industry Network?
Nelson – Team/Marketing co-lead of The Industry Network: So firstly, my name is Nelson and I am the marketing Co-Lead for the industry network.
The industry network is aiming to be a safe place for investors of all types to come and try and take part in decentralised finance. We pride ourselves on being community-driven and we achieve this through on-chain voting by our governance token.
We are a group of decentralised finance enthusiasts who have been trading together for a long time now. We aim to have protocols and options for investors of all types from a first coiner to a seasoned and experienced whale. We currently offer 2 native tokens and 3 protocols. TinV is the governance token and TinVs is the farming token. We have 4 core beliefs at The Industry Network; Trust, Fairness, Transparency and Integrity
Blockelite Host: How do you know cryptocurrency? and when?
Nelson – Team/Marketing co-lead of The Industry Network: I myself have been involved in cryptocurrency and trading for a few years now. I was introduced to it by some friends and since I discovered it my love for the technology and benefits it offers has grown
Blockelite Host: Trust, Fairness, Transparency and Integrity , sounds great
Nelson – Team/Marketing co-lead of The Industry Network: Yes, We truly believe that these four beliefs should be at the heart of our ecosystem and all protocols within it
Q2: DeFi is very hot at present. I would like to ask your opinion on DeFi application scenarios, and how can The Industry Network can provide support for it?
Nelson – Team/Marketing co-lead of The Industry Network: You are very right in saying that decentralised finance is very hot at the moment. I believe this is because people are starting to understand and take charge of their own personal financial situations, They are realising there are flaws in the Fiat system and are looking to take up new opportunities.
Decentralised finance offers people a chance to partake in investing and try different financial options without the worry of a centralised authority controlling and influencing them. Here at The Industry Network, we plan to offer multiple protocols with varying degrees of risk to our community, this will give them the chance to choose the path they wish to take.
For example for low risk at the moment you can purchase and hold our governance token as it rewards you via frictionless yield farming. If you wish to partake in a more aggressive and slightly more risky approach you can participate in our farming protocol, creating an LP token and staking for rewards. Within that same protocol is a low-risk strategy of single assets taking is also available.
Q3: What role does Launchpad play in The Industry Network ecosystem? Why people should join your Launchpad?
Nelson – Team/Marketing co-lead of The Industry Network: The launchpad protocol was conceived as an idea to give back to our community for their ongoing support. We can do this by offering early entry into low market cap projects which will not act maliciously towards them.
By joining our launchpad you have the opportunity to receive tokens at a lower price than launch which will mean you are in profit as soon as the project is live.
Projects are vetted by our team and if the IDO project’s team will not dox themselves to us they have to go through much more strict processes to make it onto the launchpad. In line with our four core beliefs, we will always try and offer the safest and most transparent projects.
Blockelite Host: I have seen “Opportunities for investors from small to large” with 4 pool tier , can you share about it? and benefits of each pool ?
Nelson – Team/Marketing co-lead of The Industry Network: Yes, regarding the opportunities from small to large. We intend to offer a variety of protocols which cater to both small and large investors. For example, if the bottom tier of the launchpad is currently unachievable then an investor can hold TinV to be rewarded via the tokenomics. They can also enter the farm with a small amount and build up until they can enter the bottom tier of the IDO launchpad. This way a smaller investor has the chance to build them up into a position to take part in our protocols aimed at larger investors. As we move forward and release more protocols there will be more opportunities for smaller investors to grow
We also believe in rewarding loyalt, and the amount of TinV needed for our Silver tier of the launchpad is the same amount that our private investors from the presale received. This means if they held the token from private sale until now, they qualify for the silver tier 🙂
Blockelite Host: And where can we buy/sell TINV now ?
Nelson – Team/Marketing co-lead of The Industry Network: You can currently buy and sell on Pancake swap here https://exchange.pancakeswap.finance/#/swap?outputCurrency=0xf20ce5f76efd7b68d038234ce1fe5b9b380f1740
Q4: What is the market strategy of The Industry Network to get mass adoption by millions of users or investors outside the crypto space?
Nelson – Team/Marketing co-lead of The Industry Network: We are currently working on marketing within our own cities. As our team is from Australia, England and the United States of America we have a broad reach around the globe and will be looking to market within our own areas to gain adoption outside of the crypto space.
For example in Australia, some of the team is working on an advertisement which will go on the sidewalk with QR codes that will link directly to our site and bring traffic from the public.
On top of this, we have a few large partnerships and promotions which are currently being worked on that I cannot say more about at this moment, however When these are finalised and come to fruition we will be exposed to the general public a lot more.
Blockelite Host: Wow, QR codes , :))
why not, we are in 4.0
Nelson – Team/Marketing co-lead of The Industry Network: Yes, we want to make it quick and accessable for people to come and join us
Q5. What milestones have The Industry Network achieved and what is the next roadmap for 2021?
Nelson – Team/Marketing co-lead of The Industry Network: In quarter two of this year as per our road map schedule, we launched our Governance token. We were scheduled to launch our farming protocol in quarter three of this year however we managed to launch this two months ahead of schedule and it was made live just 1.5 weeks after the launch of the Governance token.
Due to us being ahead of schedule we had time to get back to the drawing board and see if there was a protocol we could add in to help benefit our community. This is how we came to have a launchpad IDO platform added to our protocols on offer.
The next step in our road map is auto compounding vaults. Following that we have scheduled a borrowing and lending platform in quarter four of this year, depending on how development goes of our vaults we should be ahead of schedule for that also. The last step in our roadmap currently is a passive income earning protocol. Most of our road map is a guideline and we will be putting to the community votes on which protocols they would like to see added and we will do our best to offer it. As time goes on we will be constantly adapting and changing with our community and the market.
As for milestones we achieved over $1,000,000 locked within our farms within four days of launch, this also happened during the same time as the most recent market correction making the milestone a little harder to reach. Another milestone was our first on-chain governance vote which resulted in the burn of over $700,000 worth of TinV
Segment 2: Twitter questions
Q1: What is your strategy for building a strong community? Do you agree that the power of community will lead your project to develop globally? What services do you provide to the community?
Nelson – Team/Marketing co-lead of The Industry Network: We believe that following our four core beliefs of trust, fairness, transparency and integrity is key to building a strong community. We always are looking to reward our loyal holders via airdrops, special entry into protocols or any advantage we can give them.
Our strategy is to ask the community what they want and then deliver on it, the more times we do this the more the community will trust us which will strengthen the bond between the investors and the team. Another key part of building ties with our community is to constantly be active within our channels and constantly engaging with the community.
The team thoroughly enjoys just talking with the community about anything. The team are all also investors so we know how important it can be to just have someone to talk to and discuss with. We also offer ‘how-to’ videos on our youtube which give visual and written step by step instructions to do most processes that will be carried out within our ecosystem. From setting up a wallet to creating LP tokens we have videos for it.
Blockelite Host: And can you share your youtube channel ?
Nelson – Team/Marketing co-lead of The Industry Network: https://www.youtube.com/channel/UCsq4adNKff7UyUV7A48LVcw/videos
Q2: Do you have links we can use to stay updated with this project ? Are there channels, or probably local communities where users can get the latest information especially your medium you mentioned?
Nelson – Team/Marketing co-lead of The Industry Network: I like this question :). I will gather our links now. We have multiple ways to keep up to date with all of our news, token price, farm information and general information about the ecosystem
Telegram chat: https://t.me/The_Industry_Network_Official
Announcement channel: https://t.me/IndstryNtwrkOfficialAnnouncement
VFat for our farms: https://vfat.tools/bsc/tinville/
I hope this helps you keep up to date with us
Q3: Please tell us the Main Role of tokens in the Ecosystem? How can the Community earn passive income with tokens? How many Incentives does token offer to the community?
Nelson – Team/Marketing co-lead of The Industry Network: We currently have two native tokens in our ecosystem.
TinV- TinV stands for Tinville (The Industry Network Village). This is the governance token to the ecosystem. Holding it grants you voting power via the on-chain snapshot voting system. The tokenomics of TinV also rewards holders via frictionless yield farming (your amount will increase slowly just by holding onto the token). The third benefit to TinV is holding certain amounts of it will grant you access to low mcap projects being launched from The Industry Network Launchpad.
TinVs- TinVs stand for Tinville silver. This is our farming and ‘currency token’. It is used for farming rewards. It also has a secondary use case that allows you to ‘spend’ TinVs to boost your entries into the launchpad IDO whitelist if you are in the bottom two tiers.
Q4: The security of assets is the first thing that comes to me and other Investors when choosing a project, so what are you writing to ensure that the smart contract is free from errors and vulnerabilities?
Nelson – Team/Marketing co-lead of The Industry Network: To ensure the safety of our investors we have had our codes inspected by a Crypto security company. Not only do they audit the code but as part of the package, they give suggestions on how to strengthen the code to help prevent someone maliciously acting on it. Our governance token was cleared to have 0 major, medium or minor code vulnerability. Our farming token is currently being worked on by the same crypto security company. On top of that, we have a third party completing an audit on our farms also.
Q5: Tinville applicated 5% tax for each transaction, which 1% will burned and remove from supply. Beside this way, are there any mechanism to increasing the token values?
Nelson – Team/Marketing co-lead of The Industry Network: As part of the tokenomics, it also has a 2% redistribution directly into an ownerless liquidity pool. This will slowly create a more and more stable price. As for increasing in value, TinV is the core and main token of our ecosystem.
The way the team views it is TinV is the gold within our village. It is treasured and hard to come by. All of our other native tokens are important but are not quite the gold of the ecosystem.
TinV itself will have a use case within every single protocol we release. No matter how many protocols we release TinV will always have more and more use cases added to its list. We are less than a month old and already it has multiple use cases.
- It rewards you just for holding it via the 2% redistributed to holders.
- The amount of TinV you hold will determine your voting power. Which you can put to use in our on-chain votes which determine outcomes within the ecosystem.
- It is available both as a pair and as a single staking asset within the farming protocol.
- It gives your access to our IDO launchpad sales. By holding certain amounts of TinV you will qualify to take part in the sales.
Segment 3: Live questions
Q1. Low liquidity is one of the main problems with the DeFi, Project what are you going to do about it? Do you have a liquidity provider program? What benefits for liquidity providers
Nelson – Team/Marketing co-lead of The Industry Network: Part of the tokenomic breakdown of the TinV token is an automatic 2% of every transaction is sent to an ownerless liquidity. Meaning the more that the token is traded the more is added to the liquidity pool. As well as this we have our farms where people can pair TinV or TinVs with other tokens for rewards. This adds liquidity for those tokens as wel
Q2. How will you continue to promote your product in the future? Do you already have plans for other interfaces with other companies ?
Nelson – Team/Marketing co-lead of The Industry Network: We have multiple partnerships already confirmed and two have been announced just today. We will continue to build partnerships which offer mutual promotion and exposure. We also have paid marketing campaigns and AMA’s booked to further our reach and exposure.
Q3. Most projects have to go through certain difficulties and challenges, what difficulties do you face and how do you overcome them??
Nelson – Team/Marketing co-lead of The Industry Network: We have faced possibly the biggest challenge of them all. We launched almost a month ago and the market was doing well. Just after our farms went live the market went through the biggest correction of the year. This meant that any sort of positive prive movement was hard to achieve. This also meant that investors were more hesitant. We continued to be there for our community and engage with them even during the rough times which i believe helped strengthen the ties between the team and the community
Q4. Do you have any plans to expand TinVille International or globally?
Nelson – Team/Marketing co-lead of The Industry Network: Yes we plan to make this an ecosystem for all investors from all over the globe. Our team is from all over the world and from different backgrounds. We currently have a spanish community as well as our english channel, as demand grows for more communities of varying languages we will look to start up and hire people to manage those communities
Q5. Could you tell us how reliable this project is? How will we really know that they, will not perform a Rug Pull after having large investments?
Nelson – Team/Marketing co-lead of The Industry Network: Another great question. The whole concept of our ecosystem started because we witnessed the increase in rug pulls and other malicious activity happening across the Defi scene. We decided as a team that we would develop an ecosystem that based itself on being the safe space among a sea of bad projects. Our codes are audited by a crypto security company and our core team is doxxed and happy to speak and answer any questions. We renounced the ownership of our governance token smart contract and we locked the liquidity raised during the pre sale via UniCrypt