FinBet, one of our key portfolio projects, was launched in August, in accordance with our commitment made to token holders and the development strategy presented by us during the token sales proceedings. Also, Finbet’s debut on Uniswap took place as planned, on June 30th.
Before the launch, FinBet had started building a strong social media presence (both in terms of content and reach) and establishing working relationships with the biggest crypto communities. Just moments after the launch, the team participated in several AMA sessions that gave an opportunity to present the overall strategy, current promotions, and receive feedback from potential users and token holders.
Here are the most interesting questions and our answers from the 3 first sessions, conducted on Decentralized Club, CryptoTalkz and AMA Lovers Club.
Decentralized Club, 26.08.2021
What are the current promotional offers ongoing for new registrations?
Currently we have a few bonuses running. For new joiners, we prepared a welcome bonus that doubles the first deposit. Stay with us until the end of AMA and we will share the registration link with you 🤑
💰 Soon we will introduce the FinBet competition details. For the upcoming months, we have a massive competition with an impressive prize pool planned. Just stay tuned and follow our social media to be up to date with all the current and upcoming promotions.
You are aware that marketing is a crucial aspect of every business. What is your long-term strategy for attracting new users and investors to your platform?
Oh, we have extended plans for our project development to keep the platform exciting so users will stay engaged.
Currently in the spotlight we have:
📍holding a big contest for our users, we will share more details about it soon, but let me tell you, the prize pool is impressive, so make sure to follow us 🙂
📍introducing FIAT payments
📍following the feedback from our users, monitoring their betting preferences, and adopting our offer accordingly; we focus a lot on customer satisfaction
📍expanding our education package
📍introducing new language versions of our website, platform and education materials
📍frequent adding of new assets and betting pairs
📍developing and introducing utility functions of the token
What’s your plan to bring non-crypto-natives into your ecosystem? How do you keep a balance between developing the technology and also improving the value of your token?
We’ve created a platform that combines what’s the best of the finance, gambling and crypto markets. We have something for newbies, non-crypto users, and we have something for advanced players.
We are constantly providing our users with educational materials to support their betting activities, and we are constantly developing the education package
Crypto Talkz, 31.08.2021
Tell us, what are your main features that distinguish you from other projects, and what competitive advantages do you have?
Firstly, FinBet is the only licensed crypto-based financial betting platform.
📍Simplicity– the platform is easy to use and intuitive
📍Security – it’s our priority. We encrypt our transactions and most importantly, we use existing blockchains.
📍Customer engagement and satisfaction is our primary focus. We aim to constantly update the platform on the basis of customer feedback.
📍Diversity – to please all your betting needs, one FinBet account can carry and store multiple cryptocurrencies at once, you can pick from multiple assets and timeframes, and freely mix-and-match them
📍Convenience – not only can you customize your view, but you can also bet from any location, using the platform’s mobile version.
How has the experience and background of your team been effective in the success of your project so far?
We are a team of financial market experts, with about 20 years of experience in forex business, asset management, institutional trading and digital entertainment, gambling, experts, also with over 10 years of experience and previously involved with online casinos, betting houses and other gaming companies.
This unique combination of characters and their different work experiences are the reason FinBet is what it is now – a unique and new type of financial betting platform. We are a global team, and our collective knowledge is something we are proud of.
We could use it to mix multiple business models with one goal – create a platform that will be able to combine what’s best of finance, gambling and crypto markets.
When founding FinBet, our experts wanted to build on the limitations they noticed in their industries and combine forces to create a unique crypto-based betting platform that follows updated financial and blockchain standards.💻
What is the risk of entering or participating in betting prediction markets like FinBet, especially the highly volatile market? Do you have any risk control? If the prediction is incorrect, what are the consequences? Is there a time limit to predictability?
FinBet is not a betting prediction market. It involves betting on financial market assets. That makes the product we offer fixed odds betting– which means from the start, when a user places a bet, they already know more than in the case of any other gambling / financial activity.
📍the bet amount (and that is exactly how much they can lose)
📍when the bet is about to be finished (they pick the timeframe)
📍what is the external condition that must be met to win / lose
Therefore– there is a limit, a win and a stake, and the market volatility is different than in the Forex market.
FinBet is a Financial Betting platform, which only bets on changes in asset value. How does FINBET handle regulation to really take off as most jurisdictions/countries restrict betting? Which companies do you partner with to ensure that you obtain a license?
Most importantly, we are the only crypto based Financial Betting platform working on the licence. We are regulated by gambling commissions of Uganda, Nigeria, and Seychelles, so our activities are monitored by Regulators.
This just proves that we are trustworthy and legitimate as we are monitored by Regulators. We are regulated in the markets that we choose to work with.
Our team is among the few projects that have been dealing with compliance matters for many years and this is neither something new nor unexpected for us.
AMA Lovers Club, 2.09.2021
Can you briefly describe the top milestones you have achieved and your target milestones with timelines, also share your roadmap?
After setting up the project, the most important steps were:
📍 Acquisition of the only financial betting licence in the world
📍 Lighting network integration
📍 introducing live stage and mobile version of FinBet platform
📍 both of the CFB token sales
📍 ERC20 network integration, metamask payment integration, and BSC integration
Which we successfully achieved 💪
🎯Our next targets are:
📍 implementing possibility of Metamask registration
📍 introduction of FIAT payments
📍 announcing CFB utility features and burning plan
📍 CFB governance models
We plan to share the roadmap soon, so to be up to date with the project news, remember to follow our social media channels 📱
Can you briefly describe your PARTNERSHIPS so far?
FinBet is a ready to use tool, yet we are still very interested in various partnerships and they are very welcome 🤗
We see the possibility of integrating our platform and adjusting it to partners’ solution to provide their users with financial betting entertainment, but we’re very open to talk and read all about the possibilities that we are provided with.
Additionally, individuals and businesses are welcome to join FinBet’s affiliate partnership program which we’re currently working on. The Program is open to everyone, so if you are interested in joining, please contact Meghna (Affiliate Manager) at firstname.lastname@example.org
Thanks to the affiliate’s hard work, we will be able to reach a wider range of potential users.
Aside from that, we have a clear marketing schedule set, filled with contests, bonuses, and community development activities to keep users engaged and interested. The way to success is constantly improving, that’s why our efforts will never stop 💪🔥
For example, currently we are running a 100% bonus campaign. For each new user, we will double their first deposit 💰
Finally, on the introduction segment, can you give an overview of your Tokenomics, and the UTILITY of the $CFB Tokens?
We plan to issue tokens worth up to 400 mln. The team holds 50 mln worth of tokens. There is no hard lock-up for the teams’ tokens. They won’t be put on sale for the first 12 months though.
The rest of the tokens are (or will be) sold in sales. We don’t plan to mint more than the mentioned amount unless token holders decide that the situation requires it. Currently, there is no token minting mechanism or strategy prepared because new emissions will happen only under the initiative and agreement of current token holders.
CFB is a utility token and the full range of its functions will be published soon. This program will include the burning model and a schedule.
Can you please go into the details of what you guys meant by Financial betting? Is this the same like sport betting or its a different concept entirely?
Also, you talked about your plan of introducing Flats such as NGN and Uganda currency, which means users can bet with crypto and fiat, so do you have any plan of introducing more range of assets such as indices, commodities, stocks and the rest?
FinBet is a Financial Betting platform, which is simply betting on changes of the assets values. Think of it as you would in sports betting. Imagine betting on a football game- You would try to predict which of the two teams would win, same goes for FinBet. You have two assets paired against each other and you bet if their values will rise or fall.
Your Platform is named FinBet, so it’s quite easy to know the platform is a gambling platform. Moving further, I cannot gamble due to religious restrictions and I am sure there are several Millions of people who share similar restrictions. What advantage or utility can we derive from FinBet? Do you have any inclusion plan for non-gamblers ?
Using the platform might not be for those users you mentioned, however there are more aspects of FinBet they can enjoy.
You can use our educational activities to deepen your understanding of processes and dependencies on the financial market (follow the Impact Reports we post regularly to widen your knowledge of politics and macroeconomics).
You can also become a token holder of our native token #CFB to be a part of the project’s success.