Kulfi Finance AMA recap

coinwire.com hosts an AMA with Kulfi Finance. #KulfiFinance #Cardano #CardanoDaily #AMA

CoinWire Admin: Good day everyone and welcome back to another wonderful AMA with CardanoDaily and Kulfi Finance 🔥I’m Daley – your host, and today, we invite Mr. Louis Ryman – CTO at Kulfi Finance over to talk to us about this chilly and delicious protocol! How’s it going Louis?

Louis Ryman: Hello Cardano daily community, I’m Louis Ryman, CTO of Kulfi finance Project. I’m so glad to e-meet you here. I hope I can introduce the Kulfi Finance Defi project and make you understand our platform fully. Thank you for your attendance to our AMA today.

CoinWire Admin: Fantastic spirit there Louis! Thank you for making this AMA possible. Seems like everyone including myself can’t wait to get this AMA started, what do you say if we kick this off right now?

Louis Ryman: Yes of course😊Thanks Cardano Daily for giving an opportunity to introduce our project to your community. 

CoinWire Admin: Lovely, so let’s start today’s AMA with our 1st segment: Q&A with the host

1. Can you give us brief information on Kulfi Finance?

Louis Ryman: Kulfi finance is a protocol for lending and borrowing cardano native assets. Kulfi Protocol allows anyone to lend & borrow Cardano native assets enabling interaction with the most flexible decentralized finance protocol on Cardano. Kulfi is a fully decentralized community-run project, governed by the community vote for all major changes to the protocol. The Kulfi token (KLS) is a governance token that allows the Kulfi community to govern the protocol through staking Kulfi token and voting in the Kulfi finance DAO. 

The Kulfi ecosystem is designed to emphasize community control over the protocol through governance, fee sharing, and voting. The global financial system is filled with middlemen that can and will be replaced by software, and Kulfi finance is the protocol. Kulfi Protocol currently supports one blockchains: Cardano, as time progresses we look forward to integrating the ethereum chain.

CoinWire Admin: Nice, that’s what we’re here for: a 100% decentralized financial world

Louis Ryman: Kulfi protocol is designed to give decision making power to the community.

CoinWire Admin: And let’s discuss that in later questions too, very curious about how you can do that fully, but next:

2. When did Kulfi Finance come into existence? What plans do you have for the future? And what can we expect from Kulfi If possible, could you please share yout roadmap with us.

Louis Ryman: Kulfi team is very open to entertain questions 😊 Very good question, Kulfi was conceptualized in Q2 2022. The Kulfi core team has been working on the kulfi project inorder to make the project a success. We have a lot of features and new stuff in the pipeline. Things like Permissionless & trustless interaction and a user friendly interface which is currently worked on and will be released this year. We also plan to strengthen the community by implementing different ways of social trading and social sharing and other cool stuff. Kulfi  has always been targeted to be the gateway to DeFi. users can stake, lend and borrow everything on Kulfi App. With our easy and intuitive platform, we make it possible for everyone to participate in crypto. This is our main target for the future. Our community is very active and passionate and we aim to be the gateway to all DeFi services. That’s what we’re working on.

Since we’re a full DAO, major development will be rolled out for the DAO members to decide on the future of the project. This always depends on the will of the community. But we have community goals which can be seen on Roadmap: https://app.gitbook.com/s/Dnl5YDge2YHtsuFFhn4l/kulfi-v1-roadmap

CoinWire Admin: Wonderful, lots of exciting features to keep our eyes out for. And thank you for the links also kind ser 👆👆

3. So since Q2, 2022, how has the experience and background of your team been effective in the success of your project so far?

Louis Ryman: The Kulfi development team members are international and come from a wide variety of backgrounds. We complement each other very well and can cover all areas. The Kulfi team understands the crypto world, know what’s important, and also have a pretty good idea of the direction crypto will take in the next few years. In this respect, we are therefore well positioned and not afraid to take on challenges.

CoinWire Admin: Nice, your team members’ links can be found on your website as well, they have telegram and twitter mainly

4. Please share your Native token to us, what are some of KLS Token’s utilities in Your Ecosystem? And if possible, share with us the Tokenomic as well

Louis Ryman: KLS is a Kulfi protocol governance token, an active and vibrant community of stakeholders collectively advancing the protocol is at the heart of Kulfi finance. Users who stake KLS tokens are eligible to earn fees generated by the protocol and are able to vote for representatives responsible for approving upgrades to the protocol. Other utilities include payment of transaction fees within the Kulfi ecosystem & access to kulfi liquidity pool for borrowers. The current maximum supply of KLS is 1bn KLS Tokens. Here is a detailed explanation on KLS token utilities, tokenomics & distribution: https://kulfi.gitbook.io/kulfi-finance-3/ 

More information concerning Kulfi finance is as well shared on Kulfi Docs above👆

5. Kulfi Finance doesn’t ask for identity verification nor does it run credit checks on our financial history. So how could you recognize your user is not a scammer or hacker without checking their identities?

Louis Ryman: Thank you for the question, this is a very critical question for web3 projects. Kulfi finance has no need to check KYC. Users are connected with their wallets to interact with our protocol. That way they can’t harm the protocol. Kulfi finance is vastly different from CEX. Rather than collect user data, we expose ours. Anyone can audit Kulfi code and balances to ensure that everyone’s funds are secure. Our users’ funds are safe at Kulfi finance unlike CEFI’s every operation on Kulfi is recorded on chain and cannot be tampered, by doing so, the users have a 100% control over their assets.

CoinWire Admin: Understandable, people need to connect to a web3 wallet then interact with the DeFi protocol, but also, lots of investors have troubles with these initial steps and find it difficult to get involved

6. So walk us through how retail investors can participate in Kulfi Finance?

Louis Ryman: Kulfi Finance is a community driven project which means anyone can participate in Kulfi finance lending & borrowing activities and kulfi governance. Anyone can be a lender on Kulfi pool, and everyone will have access to the same opportunities to earn high APYs regardless of the size of the lender. This is in contrast to traditional capital markets, which are largely closed off to retail investors and where the value accrues to the big players only. Kulfi levels the playing field.

7. Can you list 1–3 killer features of this project that makes it ahead of its competitors? What is the competitive advantage your project has that you feel most confident about?

Louis Ryman: Kulfi finance features are set to differentiate Kulfi lending protocol from other lending platforms. These features includes: 

  • Permissionless & Trustless lending and borrowing activities
  • Payment of transaction fee using ecosystem token 
  • Fixed rate and maturity date for lenders and borrowers

Other features can be seen on Kulfi Finance blog: https://medium.com/@Kulfi_finance/kulfi-finance-real-life-usecases-features-551229b9edb6blog

CoinWire Admin: Very cool! Remember to #dyor fam

8. Do you allow suggestions and feedback from the community? Are we allowed in decision making, do you include community into consideration?

Louis Ryman: Of course! Just head to our telegram group: t.me/+rphyUBMegsU3ZTI0 or discord server: discord.gg/fzsa8ynF97 and share your thoughts and ideas with the Kulfi admins who are ever ready to hear from the our community. I’m also available to entertain questions from our community as well 😊

CoinWire Admin: Remember to join their telegram, discord and follow their twitter to win the AMA prize!

9. Where can I currently buy Token?

Louis Ryman: Kulfi tokens (KLS) pre-seed is scheduled to commence on September 2nd 2022 and will only be conducted on kulfi official website https://kulfifinance.io/. Interested participants can join or follow Kulfi on socials to stay updated on our latest development.

Twitter: twitter.com/kulfi_finance

Discord: discord.gg/fzsa8ynF97

Telegram Group: t.me/+rphyUBMegsU3ZTI0

Instagram: instagram.com/Kulfi_finance/

Youtube: youtube.com/channel/UCFfkMuPjE2bgBJikq-u1GpQ

CoinWire Admin: With this we are now at the end of our AMA session with Kulfi Finance 😘😘

Time for wrapping up, any last words you would like to say to our community?

Thank you Louis Ryman for an amazing AMA today with the Cardano Daily community!🙌🙌

Louis Ryman: Thank you Cardano Daily for having us, Kulfi Finance team.

CoinWire Admin: It’s always our pleasure!😉