UPFI Network AMA Recap

BSCDaily.com hosts UPFI: #Solana #UPFI #UpFiNetwork #SolanaDaily #BSCDaily #BSC

BSCDaily Admin: Hello and welcome, @heroharry How are you today? 😀

Harry: Hello Daley and Solana Daily community.

Thank you, I’m good today.

BSCDaily Admin: Glad to hear! Are you ready to start the AMA with the Solana_daily community?

Harry: Yes I’m ready 😄

BSCDaily Admin: Alright, we open with the first question:

Q1: Can you introduce UPFI to the solana_daily community? Your ideas and team perhaps?

Harry: Yes about myself and UPFI Network’s team, we now have a total of about 20 people in our project, 7 in tech, 10 in marketing, 2 in legal and admin, and the last but not least is me – CEO.

About the founders, we have 4 people in the founding team, 2 people in the founding team at an early stage, and 2 people joined the team a bit later.

This is a quick introduction to our first 2 founders.

1/ Harry Nguyen

* Co-Founder & CEO UPFI Network

* Founder & CEO – UPIT Group

* Co-founder & CTO – AsioPay

* Former Software Engineer and PM at Samsung R&D

* 7+ years in the product manager, blockchain development & crypto-investment

2/ Max Nguyen

* Co-Founder & CTO UPFI Network

* CTO – Raremall NFT

* Blockchain developer at Zcoin.io, Midas network, Vinex network

* 8+ years in software development, blockchain development & crypto-investment

About the project, UPFI Network is the fractional- algorithmic stablecoin protocol on the Solana ecosystem. UPFI Protocol’s final goal is to provide a stable, highly scalable, decentralized, algorithmic money in place of fixed-supply digital assets.

UPFI won the 1st prize at Solana Season Hackathon – Nation Vietnam. The project has also successfully raised 2 million USD in Seed Round and Private Round.

For a long time, me and the CTO of the project wanted to do a stablecoin project on the Solana ecosystem, the idea was cherished and gradually implemented, and that idea has become the UPFI Network today. In the near future UPFI Network will join the Metaverse with the Metafi

Q2: Currently, the market is becoming very bullish on the NFT trend. Can you share your opinion on NFT as a player in the NFT market? And does UPFI have any plans with NFT?

Harry: NFT is trending and we are aware of it, and also choose to integrate NFT into our UPFI World (Social Metaverse). The detailed plan will be released soon, and the product is expected to be published in January and we will use NFT as a bridge between our world and UPFI world.

BSCDaily Admin: So do you have any personal experience on NFTs as a player in the NFT market?

Harry: Yes NFT will be minted for each user who wants to join UPFI world and NFT marketplace as well.

Q3: With MetaFi& Defi 2.0, what are ‘real values’ that UPFI commits to offer long-term investors rather than benefiting from the trend of Metaverse and FOMO? During the research of Metafi & Defi 2.0, does the UPFI dev team realize its inherent weaknesses? And how do UPFI deal with this by way of sharing your roadmap with viewers in AMA session?

Harry: It is suitable for beginners – who haven’t had a lot of knowledge about Defi. As usual, DeFi is quite complicated for new users, which includes Farming, Staking, Bridge, Oracles,… By compounding Metaverse, beginners have a different way to approach things, such as through activities such as going to the bank corresponding to Staking, mining minerals corresponding to Farming. Besides, users can transform into characters and immerse themselves in the UPFI World.

Therefore, we can expand audiences and bring Defi 2.0 closer to everyone, to better understand, people can research Olympus Dao, the pioneer product in capital efficiency in Defi 2.0 with the current OHM price of more than $500/OHM and ATH is $1400. And inspired from that, we also upgraded the model so that the application on our governance staking will be released this month.

Q4: Partners are very important for every project today, may I know which partners you have now? and which partners in the future you will be heading to?

Harry: Currently, we have partnership with organizations, investors as well as media partners. All of them contribute to the development of UPFI Network.

About organizations, UPFI has partnerships with Chainlink, Serum, Solster, Oxbull,… Whereas, Chainlink provides us with Oracle protocol, to ensure a more accurate real-time price feedback mechanism. Soslter and Oxbull are our IDO launchpad, Serum provides a market address.

We also have prestigious investors such as Moonwhale Ventures, Kyros Ventures, CSPDao, Exnetwork, Mercurial Finance, OIG, Master Ventures, exNetwork,..and other large funds. They have been very supportive of UPFI Network and will continue to do so in the future.

Media partners also support us to spread our influence and introduce UPFI Network to their communities. Some names such as TradecoinVN, Crypto Banter are prominent partners.

Besides, I can leak a little bit that we’re forming partnerships with more partners according to our Products, let’s wait for the announcement in the near future!

Q5: About Security & User Interface how do you provide the most secure oracle solution for users on the UPFI Network. What protocol partners are you working with for this purpose? Is your platform suitable for newbies in the crypto field?

Harry: Regarding security, we take advantage of the processing speed and low transaction fees on Solana, which makes the price balancing process more efficient than other blockchains. In addition, the UPFI protocol is working closely with the ChainLink & Pyth Network Oracle development team to provide the most secure oracle solution for users on the UPFI Network. In addition, we have successfully completed a careful audit with RD Auditors.

https://www.rdauditors.com/wp-content/uploads/2021/11/UPFI-Network-Smart-Contract-Security-Report.pdf