GEM DIGGERS AMA WITH ALPHR.FINANCE
Introduction
At gem diggers, on our quest to share knowledge and information about the best gems in the blockchain space we had the opportunity to cover a true first mover in the cryptosphere. We recently had the pleasure of hosting Swami AlphrAnanda from Alphr Finance.
He is CEO of Alphr. Finance and he joined us at Gem Diggers to talk to us more about his ground-breaking new project that will provide automated mirror trading on crypto. What does this mean? Well the novel platform will provide users with ability to search and analyse any wallet on the blockchain and create a ‘copy’ portfolio that will mirror the trades in that wallet. With a host of analytics functions users will be able to identify high performing wallets based on their historical trading data and choose to copy them. Buy when they buy, sell when they sell.
As importantly users will see poor performing wallets and be able to manage their risk entirely as they can control what they invest their funds in.
Alphr is a microcap project with an initial circulating supply of around 450k with almost unimaginable upside. They’ve already secured funding from strong partners like AU21 Capital, Master Ventures, GD10 Ventures and others.
You may be familiar with stock trading platforms like Etoro or Trading 212 which have copy functionality but Alphr is truly the first to bring this kind of functionality into the decentralised blockchain and crypto space, making it unique and a first mover. With an IDO planned for April 2021 anticipation is already heating up as more and more investors learn about this fantastic new project…
The AMA
The rest of this article shares with you the questions we posed to Swami and his answers to our audience, unfiltered, read on to see what Swami had to say…
Ozzy: Tell us a bit about yourself, how did you get into this space?
Swami: I’ve been investing in crypto since 2014. I am a founder of another crypto project that has been around since 2018 which has also kept me well involved in the space as a result I’ve witnessed first hand the explosion of DEX trading and DeFi, which led to Alphr.
Ozzy: Can you tell us more about the team at Alphr, who’s doing what and how experienced are they?
Swami: Sure. The Alpha team is unique in that we are all very active in the blockchain and crypto space both investing and working in other projects- hence the anonymity. That’s what being in crypto does- it expands your mind and gets you thinking in so many different directions that you are working in one company but you have 5 other ideas you’d like to execute on at the same time. Our team has been been chosen for their knowledge and experience in crypto and that collectively we are hungry for building businesses and democratizing the crypto investing experience
Ozzy: What inspired you to create Alphr?
Swami: I was thinking about what I would be doing if I wasn’t running my other company. I very simply asked myself- what would I do full time if I wasn’t involved in any other businesses?
The answer was: Trade.
Next, How would I do that in the best, most efficient possible way considering i’m not a great trader?
I’d follow the wallet addresses of the best traders. Buy when they buy and sell when they sell.
Ozzy: How will automated mirror trading work, what decisions can users make with the trading platform?
Swami: Anyone can search for any wallet address or use our UI to discover new addressees and create a mirror pool to start mirroring that wallet’s addresses. We have a set of filters so you can filter by wallets that only trade certain assets, or that make a certain amount of trades. You can also filter by ROI and certain time windows. We want to provide users as much information as possible about the addresses so they can make an informed decision as to whether they want to copy the trades. We also assign an risk score to each address based on what the address typically trades and a number of other factors. We have a few Quants on the team that are from traditional banking that are developing this risk score system.
Ozzy: What are your future plans for Alphr development following launch, what’s next on the roadmap?
Swami: V1 will only allow users to copy Uniswap traders, in V1.1 we will quickly roll out compatibility with all major Ethereum based DEX platforms and aggregators. From there we will look to integrate across chains to enable pancake swap and Polkadot DEX platforms too. Following that we will enable mirroring of more complex transactions like loans, providing liquidity and derivatives etc. We will outline a full roadmap for each of these features once we have shipped our Alpha of V1.0.
Ozzy: Who do you see as your competition and why?
Swami: I would say Etoro is a competitor of ours though they are centralized so different again. Alphr is decentralized mirrored trading which to our knowledge is new.
Ozzy: Please explain the Utility of your token. Where will the Demand come for it?
Swami: Alphr’s token is a governance token which means token holders have governing and voting rights in the development of the project. In addition to this 100% of trading fees on the platform are returned to token holders that are staking their Alphr.
Ozzy: Give us an idea of how token holders will take part in governance, why should they hold?
Swami: Alphr stakers firstly receive all the fees generated by the platform, this is unique in the space and is reason enough to hold and stake. Secondly the Alphr community fund which is 20% of the supply is controlled and voted on by Alphr holders, we will have governance of the treasury like other DAOs in the space. If we capture 1% of the DEX volume the fees generated for Alphr stakers will be $36.5M per year
Ozzy: Do you have any venture capitalist backing, or planning to?
Swami: Yes we have received investment in our seed round from Spark Digital capital, Master Ventures, AU21, GD10 ventures and others. Our private round is currently closing and will include some tier 1 funds amongst other strategic investors.
Ozzy: Who are you partnering with for marketing, or planning to?
Swami: We will be conducting an IDO in April that will include many marketing initiatives to draw attention to what we’ve built. We think Alphr solves a real problem for many people and will be useful to a lot of people beyond just the protocol usage rewards
Ozzy: How are you ensuring the security of your users on the platform?
Swami: Our risk score system helps users decide how risky it is to copy an address or not.
Ozzy: Is your contract audited, if not what are your plans on this front?
Swami: Yes our contract will be audited by 2 independent auditing firms.
Ozzy: What happens if an account being mirror traded is compromised and starts investing in a newly listed token that is byte code or looks like a rug? Are there safeguards in place to make sure that people that are mirroring that account don’t buy the possible rug pull token?
Swami: Every address is given a risk score based on what they typically trade etc, from this and all the information provided based on history users can make an informed decision themselves if they would like to take the risk of copying an address. It is not in a traders financial interest to make the mirror lose money, as Alphr rewards are distributed based on fees generated and the fees are based on profits. Also if there isn’t enough liquidity to copy the trade then the mirror won’t.
Ozzy: Apart from Alphr, which other crypto projects do you admire and why?
Swami: We love the DeFi space and what is being built and coming out of it. In particular we like Yearn, Alchemix, Sushiswap, Uniswap and so many more.
We hope you are excited as we are for the upcoming ALPHR IDO in April 2021. Alphr Finance is definitely one to add to your watchlist.
Find out more about this project using the resources below and be sure to join our AMA Telegram group for more upcoming AMAs with top class projects…
Join at https://t.me/gemdiggers
Alphr Finance resources, feel free to learn more and share:
Website https://www.alphr.finance/ (Coming Soon!!)
Twitter https://twitter.com/alphrfinance
Telegram https://t.me/alphrfinance
