Topic: FACT FINANCE - Bringing TRUE DeFi to the Industry! (Read 250 times)

FACT is going to be burned by 90% to reach Maximum supply of 1.5M. FACT - team wallet will be burned by 90% to be 135,000 FACT. They will burn a lot of coin

If the FACT value has increased beyond the original amount, you will need to pay the 80% collateral amount that you have taken, and the profit from FACT is yours. In case that FACT value has decreased, you will only have to pay the Fact amount that you’ve borrowed + extra 2% stability fee for the liquidity providers and take your original collateral back.

I think it's good point that FACT team plans to continue developing a broader array of financial products built with blockchain technology to ensure complete security, decentralization and transparency

Hello I just posted a few I have invested in myself. This one actually looks like one of the better ones to me as they have spent a lot in advertising. Here is today's update and like I say in my main post, these are high risk instruments so always do your research. I am only relaying the news as it comes and I went here with a small investment myself. I am not heavily invested in the higher risk defi projects and want to primarily stake and earn income through staking and farming, so fro me, DeFi is very new also and am trading carefully right now.


Hope you had a nice weekend, I’ve been working closely with the Dev team over the weekend to make sure that everything is on track. They’ve committed to deliver the staking 1 week before the borrowing which will be on the 17th Sep 2020.

Here is how Staking will work:
1- connect your wallet you’ll be able to see your FACT balance to stake.
2-choose the FACT amount to stake
3-we are going to start staking on only one pool called “bonus pool” which means that the annual reward is 55% on daily basis (0.15% Daily rewards). You have the flexibility to unlock the staking amount and withdraw your FACT anytime and get the full reward on the time of unlocking.
4-Bonus will work every 30 days once you complete 30 days you’ll be rewarded by 5% on the Staked amount immediately on the top of the regular rewards.
5-it means that if you stake 1000 FACT for 1 year the total FACT to unlock will be 2150 FACT.

Any borrower who will borrow the FACT will have to pay 2% on the borrowed amount in DAI as a start. This 2% will be fully distributed between the Stakers based on the share percentage of the total Pool.

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Development progress:
1-Unit testing is done.
2-Staking code is 80% done.
3-Now we are following the quality checklist before the audit starts https://blog.openzeppelin.com/follow-this-quality-checklist-before-an-audit-8cc6a0e44845
3-During the week there will be a communication channel between the team and the Openzepplin team to complete the staking audit before launching it.

Our GitHub link for who wants to track the development progress will be shared later today.
Also we are going to make an AMA with the developer for who wants to ask for any technical details once he finish the smart contracts and submitting it for the audit.

Note: we are launching the Staking one week before borrowing, since the borrowers will borrow from the Liquidity pool that stakers will provide. this pool has a threshold to initiate the borrowing model of 20,000FACT to be staked therefore we have one week difference to make sure that the ecosystem is sustainable.

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Listing updates:

Hotbit 1 trading pair instead of 3: (we’ve requested to have only FACT/USDT on Hotbit because since we’ve got listed on 3 pairs + Uniswap, The arbitragers have taken the advantage  of having 3 trading pairs and it has affected the price and the volume even  on Uniswap that’s why we’ve asked the Hotbit team to list us as 1 pair which is (FACT/USDT) the price started to recover once they’ve accepted that request and FACT value now is stable.

Hotbit Trading link:
https://www.hotbit.io/exchange?symbol=FACT_USDT

Uniswap Trading Link:
https://uniswap.info/token/0x23aeff664c1b2bba98422a0399586e96cc8a1c92

—————————————
🔒We've updated the liquidity lock on UNC increasing the second pool which is was $20,000 and the POL score has increased again to 97% 
https://unicrypt.network/uniswap-browser/pair/0xd2f24421f2793a0b10EEA1dA8404C7014Ab291aE🔒

🔥598,000 FACT the pre-sale unsold has been burned successfully
🔥20,000FACT has been burned on the 1st Sep as the minimum monthly FACT burning 🔥

https://etherscan.io/tx/0xec7272b31d46dbd4b768a482fd9d591159e7efb0c7ba3af71966ace47a7b2cbf?fbclid=IwAR1zFRIajTZyo6r3KKosmb3ExvifyOgw97zcIj4tgqvLGmcMjGnO8TWC5C8

@OP you are very active in these days and posting a lot of DEFI projects. Are you part of these projects or what is the reason behind this. Who is behind this project even website is also looking empty about them than I will take it very high risk investment when we give our money to anonymous person. So you know who are in team members.

Attention will shift to teams of new DEFI, nobody want another repetition of Sushi, we all know sushi is not a scam but we dont want to see exit scam that might bring doubt to this development in the space. It was difficult for investors to trust a project the CEO dumped it token in the market, the ripple effect was all over the space. I also think nationalities might play part in trusting some investment this time, we need to be careful what we represent in this market.

Well they seem to be investing a lot in adverts. I am not sure if they will stay anon or not. A lot of these projects on Uniswap like to stay more anon than others but so far they have acted very professionally and have also paid for advertising on CMC and Google ads. Also they are listing next on probit and then Kucoin. They are now already on hotbit. I think if they wanted to scam they wouldn't bother paying for exchanges, well not Cexs anyway. They would have just stayed on Uniswap for free.  It's a shame they launched though at this time when the market decided to take a huge dump. It does have potential the project anyway, long term.

Yes, I also saw their roadmap in their twitter account, it's just that Kucoin has confirmed that FACT tokens will be traded on their exchange?

Besides, does the team plan to provide information about themselves? without a clear team maybe this project could be a short-lived project

I am actually an investor in this project and bought in the presale a moderate sized bag and It's actually one of the more sober projects out there and this is the latest news they released today:

At least they are spending their budget on marketing, exchanges and building the community and product as I saw a lot of the food finance and yfi clones go to shit with the market crash, this one at least is delivering: Including YAHOO FINANCE ARTICLE OUT:

Yahoo finance has covered FACT
check it out: https://finance.yahoo.com/news/fact-aiming-redefine-defi-lending-115412490.html

 
📢Throughout today there will be huge media coverage surrounding the Hotbit launch event, including Influencer campaigns, Twitter influencers, Google ads and Instastories Influencers push. (will share the links once it happens)
https://instagram.com/stories/crypto.preneur/2390834348162241780?igshid=1nhn61u83rmse

📢We also have an upcoming press release from Yahoo Finance, which we delayed until today’s event “the first CEX listing for FACT” to make the biggest impact:https://finance.yahoo.com/news/fact-aiming-redefine-defi-lending-115412490.html

📢Coinmarketcap is now ready to Push FACT as listed with 2 exchanges instead of 1. We have also confirmed a shoutout on the Coinmarketcap Telegram twice today and tomorrow! So listen out for this.

📢Finally we have confirmed our that biggest press release WITH Coinmarketcap WHICH will be published by the end of next week. More news to follow…

-----------------------------------

Hotbit Trading links:
https://www.hotbit.io/exchange?symbol=FACT_USDT
https://www.hotbit.io/exchange?symbol=FACT_BTC
https://www.hotbit.io/exchange?symbol=FACT_ETH

We’re excited to be a part of Hotbit family!

Uniswap Trading Link:

Don't hold your breath on it bro, I doubt this type of project will conduct a bounty because of the very limited supply, between am not sure the project is very transparent as regards to some post above, you don't want to participate in a campaign you won't get paid for.

Just asking if the project will run a community campaign here for wider recognition and acceptance. i think it is good and will settle in well. great team work by the developers. 

@OP are you really an investor in this half-baked Defi project or you are just being paid to post this ann thread! Because I see the other ann thread of weed finance and you have same disclaimer on it, well it is a good thing you warn people about the risk and they should learn to do research,
It is really funny how we have many projects in decentralize finance this days, it seems they are in a mission to fix our broken financial system 

If it is built by professionals, where are their team members? It is not published on their website. Also, their 11-page whitepaper is really not written in a very technical or professional manner. A 12th grader can very much write this paper. If the OP is not part of the team, then how can users here get direct answer from the team themselves? Because clarifications and other queries will be thrown here, and yet, there's no representative from the project that can address the question.

It looks like a forked version of sushi coin but with a better tokenomic rather than sushi coin. I have been reading the smartcontract of this project too and it looks like this project is very transparent about the distribution of token.

Im putting this one into my list.

Can someone tell me about how much price for the private sale of fact coin?

There is no mint function to minting the unlimited coin like kimchi or yuno. 

indeed, and this project also will "bringing true defi to the industry" just like the subject said
hope will become reality, not only a words to make the project look great in the defi era

Quite interesting because they will be listed on probit and kucoin in the near future (based on roadmap), unfortunately their alpha test is still only an introduction the UI because I think this alpha test can do a little test for example to log in using metamask or another test.