Full Transcript & Recap from AMPT Protocol AMPT hosted by Velas!

💰Total Reward Pool: $250 in VLX.

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Recap of the #AMPLIFY ($VLX) AMA hosted by VELAS

SEGMENT 1 https://t.me/velascommunity/158164

leoj | Erazan, [17:00]

Hello everyone🙏🏼

Good Afternoon Everyone! Please help me welcome AMPLIFY CEO Eugene Tan and Amplify CTO Vadim Zolotokrylin for the AMA today. It’s a pleasure of having you @AMPTet, @zolotokrylin here👋🏻🙏🏼

AMPT eugene tan

hi Velas Community, thank you for having us here

leoj | Erazan, [17:03]

you guys ready?

AMPT eugene tan, [17:03]

yes

Vadim | AMPT & Holdex, [17:05]

Now lets start with the AMA🔥🔥

leoj | Erazan, [17:05]

Q1. Before we discuss further about Amplify, let’s talk about yourself, also how did you build Amplify and how would you describe it?

AMPT eugene tan, [17:06]

For myself, I have been in touch with B2B and blockchain for past 4 years and seeing. the evolution of digital economy Given the opportunity and with likeminded co -founders, we decided to go for it. The journey has not been easy but has been fruitful. Not for any other thing, the experience alone is rewarding

Vadim | AMPT & Holdex, [17:08]

Thanks, @DarkLEOJ

I am CTO and co-founder of Amplify. Currently, I am responsible for Amplify product management and development. We help small and medium companies to access alternative financing services. Basically, through our platform, we help companies to grow their business.

leoj | Erazan, [17:09]

That was a fantastic journey @AMPTet. You have a great team with vast experience.

Thanks @zolotokrylin

leoj | Erazan, [03.09.21 17:11]

Now lets move to the next question❤️

Q2. What did you consider before making a partnership with Velas for the development of your platform?

Vadim | AMPT & Holdex,

A good one :)

There are a few things. First of all, we were looking for a faster and cheaper chain than Ethereum, but at the same time compatible with the Ethereum ecosystem. Basically, we were looking for an alternative EVM chain. So Velas fitted great for this purpose.

The second factor was the fact that the Velas team is very responsive, friendly, and helpful. In contrast, some other well knows EVM chain teams are very indifferent and not very responsive. We are a startup, and time is essential for us, so we decided to vest our efforts into Velas integration. Thanks to Velas team for their support:)

AMPT eugene tan, [03.09.21 17:18]

if I may add here, we also considered the experience and proven success record of the team.

leoj | Erazan, [03.09.21 17:21]

That was a great decisions. We appreciated it🙏🏼

Gas fee right now is pumping😁

100% agreed🙏🏼

You guys ready for the 3rd question?

AMPT eugene tan, [17:24]

yes sir

leoj | Erazan, [17:24]

Q3. You have an amazing team. How does Amplify work? What makes it different with other competitors?

AMPT eugene tan, [17:27]

• Amplify (ampt protocol) allows businesses (especially Small, Medium ones) who have challenges in getting liquidity to borrow from the crypto owners who will like stable recurring returns on their assets. There are a number of lending platforms but the majority is in fiat lending. We differentiate by using blockchain to hold the information and leveraging on the locked in value of the crypto assets. An asset is nothing unless there is intrinsic value and being used to generate multiplier effect. This is what we will like do. Moreover, building on blockchain allows to scale with other applications such as track and trace of shipments, clearance , credit standing etc. to sum up, Ampt protocol unlike other other protocols, focus on the value of the tokens but rather we focus in fueling and sustaining the businesses thereby bringing out the value of the protocol ,hence AMPT token.

leoj | Erazan, [17:31]

• [In reply to AMPT eugene tan]
• Thank you for your explaination, That’s quite interesting😎

Vadim | AMPT & Holdex, [17:32]

• There are 2 types of competitors.
• 1. The first type is the old school type — the one that use traditional financial systems; these players are expensive, slow, and not inclusive. I believe these providers are either going to migrate to blockchain-based technology or naturally die out.
• 2. The second type is the blockchain-based providers, like Amplify. But our main advantage is we are inclusive (we don’t require KYC at this moment). And our protocol is permissionless, meaning anyone can plugin and run its own factoring business.
• Also as Eugene mentioned, we are rewarding each participant with AMPT token, and also making the active users stakeholders of the protocol with this governance token.
• You can read more about it in our whitepaper :)

leoj | Erazan, [03.09.21 17:34]

• Less hassle, you guys made it easy for everyone. Thats very informative.
• Absolutely, thanks @zolotokrylin. wonderful!.
• Q4. How do you maintain Amplify’s ecosystem performance and its ability to compete in such a disruption era?

Vadim | AMPT & Holdex, [ 17:40]

• The principle is simple: we are aiming to develop the best product on the market, and keep up with the user needs. Technically speaking, to constantly maintain high performance we go through the startup product development cycle, which is:
• 1. identify the problem;
• 2. solve the problem;
• 3. repeat.
• At this point of time, we have identified our user needs :)

And to add: there are products which are in the same niche, but they are none-inclusive for both sides of the market: liquidity providers and SMEs.

leoj | Erazan, [03.09.21 17:43]

That make sense, very impressive.

Now lets move to the last question for the segment 1.

Q5. What is your strategy for building a strong community? Do you agree that the power of the community will lead Amplify to develop globally? What services do you provide to the community?

AMPT eugene tan, [03.09.21 17:49]

- Constant engagement with the community and deliver what is being promised.

- Yes, we firmly believe that. and hence our business model of a B2B2C model where is dependent on community to succeed. Not only do we provide the community an opportunity to earn recurring income, we will also have community involved in roles to participate in various roles such as contributors be it in community engagement, risk audit etc . this is why the concept of open Finance and Defi comes into play vs the old centralisation model. This is possible as community gets more informed and will like to take ownership . Amplify (AMPT protocol) wants to uphold this spirit and value of inclusiveness and growing together.

Additionally we are in the process of developing our ambassador program as well, so this will help mobilize influencers and anyone else whom wishes to get involved and earning some affiliate commissions. We feel strongly that the Community is the key to success for any project, including ours.

leoj | Erazan, [03.09.21 17:52]

Community power, I believe on it too.

That’s interesting, I am sure many users will get interested of it. I wish you good luck with your plans.

Thank you for the introduction @AMPTet @zolotokrylin . Now, let’s move to the Twitter Questions. There will be 5 question for you to answer, and when you are done with your answer. Please type Done, so we can move to the next question.

SEGMENT 2. https://t.me/velascommunity/15821

leoj | Erazan, [17:56]

From: @Sophiamangak

Q1. What problems do you see occurring in the blockchain industry nowadays and how does your project aims to solve these problems?

Vadim | AMPT & Holdex, [18:00]

Besides adoption, the main problem is a lack of opportunities for crypto users to invest in high yield and low risk products. We aim to provide high yield with a low risk returns.

And of course, we as a side effect we are going to contribute to overall blockchain adoption :)

leoj | Erazan, [03.09.21 18:04]

Thanks for this @zolotokrylin

People say: Invest what you can afford to lose, maybe that is why some of the users are missing the opportunities.

now lets move to the second question.

From:@annamuskto

Q2.Can you give us a brief description on how you plan to establish trust and accountability to investors and How to be responsible if there is a risk to investors?

Vadim | AMPT & Holdex, [18:06]

Few things here

high level of cyber security, meaning before the protocol release our smart contracts are going to be audited by one of the best blockchain security audit firms. This means the smart contracts are going to be tested for vulnerabilities and other functional issues.

Our team has experience in each aspect of the business we are running. This should give additional confidence to our supporters.

Together with a security audit, we are planning to open-source all our software, so anyone can go through your application, including smart contracts, and see what it does.

leoj | Erazan, [18:13]

That will add great impact of. confidence to the community🔥🙏🏼

Vadim | AMPT & Holdex, [18:14]

I beleive this is the main purpose of smtart contracts. Smart contracts make the system transparent.

leoj | Erazan, [03.09.21 18:15]

Yes I believe, Thanks @zolotokrylin

lets move in to the 3rd one..

From: @girlofcrypt

Q3. Will there be a public offering for #Amplify? How to get tokens in the fastest way in the early bird? What are incentives of $AMPT Token bring to community and investors?

Vadim | AMPT & Holdex, [18:16]

Yes. We are planning to run public token sale. If you want to participate as early bird, please stay tuned with updates from us. Subscribe to our news letter (on our website 3https://ampt.tec) or to our telegram group

leoj | Erazan, [18:19]

Thank you @zolotokrylin :)

Vadim | AMPT & Holdex, [18:19]

the pleasure is mine :)

leoj | Erazan, [18:20]

From: @Jackson04957669

Q4. Are you planning to integrate with other different blockchain technologies to expand the ecosystem and generate more trust?

AMPT eugene tan, [18:22]

Yes. This has always been our blueprint. We are looking at partnerships with other chains and other applications to expand the ecosystem. This is the reason which I have said earlier question why we build on blockchain which is going to be the future of all if not most applications. we feel by building supply chain financing around with the various applications will address existing issues faced currently like scams, double pledging.

leoj | Erazan, [18:24]

This is getting more interesting😊

Thank you @AMPTet

This will be. the last question for 2nd segment.Hope you guys are ready for the 3rd segment.

From: @elliekingcash

Q5.What does the Amplify name stand for? There are interesting stories behind every successful project, and of course you have to work hard everyday. Can you share one of these interesting stories with us?

AMPT eugene tan, [18:28]

Yes, like the word Amplify means “to expand” “enlarge”. This is what we like all the stakeholders in our protocol to receive. We want to amplify the returns of our liquidity providers through the loan of their assets, likewise amplify the liquidity opportunity for the borrowers. Amplify (AMPT protocol) wants to amplify the benefits for everyone by creating a more inclusive and sustainable financing to sustain the economies.

Cant really think of an interesting story to share except one where irrespective our team resident locations, we will always accommodate each others time to share and resolve challenges. For common reason is to bring this vision to fruition. We want to deliver something that makes the difference. So I urge all to join us in this journey of ampifying each other’s lives.

leoj | Erazan, [18:29]

Awesome in this place🙏🏼

Thank you for your answers @AMPTet, @zolotokrylin. Unfortunately, our second segment is Over. This is the last segment in this AMA, we really appreciate you are still with us here.

We will unmute the group, and let our community ask. After that, we will mute the group again. Please pick 5 best questions.

This is the last Session of this AMA. In this Session, we will unmute the chat for several minute so everyone can send their Questions to participate in the AMA.

Vadim | AMPT & Holdex, [18:31]

Thank you for hosting :)

AMPT eugene tan, [18:31]

Thank you very much for event..pleased to be here

leoj | Erazan, [18:32]

Its my pleasure🙏🏼✅

Segment 3 hhttps://t.me/velascommunity/16054

1st @cryptoturk3

Amplifie helps users to earn rewards in stablecoins and AMPT tokens. Can you briefly describe this form? How will we receive the reward? Is there a minimum requirement to receive this bonus?

@AMPTet

by lending out the stablecoins, you will get the returns/rewards in the same token. at the same time, you will also be additionally rewarded with the AMPT tokens and have a stake in the protocol. the more ampt tokens. you have, you will have stronger participation in the protocol. there is no min requirement to receive the bonus

2nd @thetomatos

I love this project is placing importance on the community aspect. It’s something that I think is lacking in a lot of projects. How can us early investors really help project grow before it launches? From providing liquidity to general participation, what different roles are there when it goes live?

@AMPTet

there is also role of community engagement, but in beginning will be. liquidity provision to fund the borrowers. we have a good pile of borrowers with good credit rating waiting to reach out to our investors(liquidity providers)

3rd @Uci000

Amplify’s financing is backed by real-world invoices.Can you please describe this line? Is this invoice like the invoices we get when buy something from physical stores?

@AMPTet

what you describe as provision stores invoices are indeed invoices but not the ones we are talking about. is at the B2B level between companies, for eg. your freight , trucking invoices and extend to raw materials invoices. And we sscale further, it can go even to big ticket like palm oil, bunker etc which is in need of financing support. hope this explains.

4th @mairadilam

I want to invest to your project. Where i buy your token? Is it available on any exchange?

@AMPTet

tq for your interest. as mentioned earlier , we will be having a public fundraising soon. however, i encourage you to register your interest with our community mgr so you will be kept abreast of the token sale. for all you know, there may be special deal coming up for our great supporters.

5th @TESTUBEBABY82

What’s your main focus right now, are you focused on the community or market/Exchange or the products?

@AMPTet

the focus is 2 pronged. one is the community engagement and build the confidence in our pdt and at the same time to roll out our MVP coming very soon. we reach out to you and join us in making the difference.

AMPT eugene tan, [19:09]

TQ all for the great participation.

have a good weekend.

leoj | Erazan, [19:10]

Congratulations to all winners🔥 Thanks for the participation, have a great weekend ahead😎🦾