Empire Token’s Founder and CEO Abdullah Ghandour, fondly known as Dulla, recently held yet another AMA (Ask Me Anything) session where he updated the Empire community about the recent developments on upcoming projects and answered some of the interesting questions asked by the community.
Below are the highlights of the important developments discussed in the AMA.
The AMA session was divided into three segments:
- Part I: Introduction and Updates
- Part II: Pre-collected Questions
- Part III: Live Q&A Session
PART I: Introduction and Updates
- A beta version of DeFiGram.io will be launched. It will be available for the trial purpose so that changes can be made as per the user’s needs and then the final version will be launched
- The Google Store for the DeFiGram.io is ready. However, the Apple Store is under process.
- Empire is focusing on the branding strategies for the project. DeFigram.io is the sleeping giant that, once awakens, will be bigger than Empire itself.
- Unlike other wallets based on MetaMask, Empire is developing its own wallet and its engine.
- Empire contracts are all sent to CertiK for audit and so far, one of the contracts has been audited, while the other audits are still being worked on.
- Phase 2 of DeFigram.io is to include a DEX, an NFT marketplace, farming pools, and a launchpad.
- The Empire NFT marketplace that was previously developed was not up to the expectations, hence, an improved NFT marketplace is ready to be launched.
- Goosebumps is ready.
Upcoming Marketing Update
- Burj Khalifa and Times Square ads are ready. They are not guaranteed to happen but possible.
- The Empire team is considering TikTok, and the team is in talks for the advertising on this giant of a social media platform. A huge TikTok campaign is coming soon.
Part II: Pre-collected Questions
- What is the timeline for the new contract and the Ethereum bridge?
The new contract has been ready for over 2 months. We audited it already but are waiting for CertiK for the feedback. In the second week of August, we can roll out and migrate the new contract. Once that’s ready, we will initiate the bridging process. We need to migrate the contract to make sure everything is smooth then we’re going to launch our DEXs. We’re going to make sure that farming pools are ready. So, we have a strong foundation and after that, we can take some of our liquidity to send it to Ethereum.
- What will farming or staking look like for holders’ time, parameters, and expected rewards?
There is no decision made yet. Some people said that 10% API takes on 10-20% farming but only time can tell about it.
- What are your plans and goals for the NFT marketplace?
It’s a powerhouse, especially from a functionality perspective as much as it’s from an aesthetic perspective. The way it looks and feels. But also, the way it functions. It’s very powerful. We’ve hired experts to do this from user experience to the weight functions to the smart contracts. We believe that our NFT marketplace is going to be number one in the whole space.
- What effect will the NFT marketplace have on the Empire token if the desired level is reached?
All the fees from the DEXs and NFT marketplaces are to be collected in Empire tokens. This will empower the token because people will know about the empire token and will buy it. The money generated from DEXs and NFT marketplace will go back into the ecosystem. Some of them will be invested back into the liquidity pool, some of them to the holders.
- Is the chat function of DeFiGram.io ready, and if so, when will it be released?
It will be released by the second week of August.
- Do you plan to have Empire Token investors test the application before launch?
The launch itself is for the Empire users to test. This is called the beta version. The beta version is for us to test it. And we grow from there, so technically when we are ready, we are, we are 100% ready. However, we are not going to advertise it until we, as an Empire team and Empire users, are not 100% satisfied with it.
- Are you working on using Empire as a payment system?
Yes and no. We are working on a very huge use case for next year. That is going to be very huge for us as an Empire. It’s going to be empowered by crypto, which is Empire. And as a payment system, that will probably be the starting point. And today with the size of where we are and with what we’re working and with everything we have, Empire as the payment system makes no sense the minute that DeFiGram.io is a huge success, and we will have our own wallet then definitely Empire will be used as a payment system.
PART III: Live Q&A Session
Dulla stressed upon the fact that DeFiGram.io is going to be very successful. Once it is used more for fees, there will be more demand for it, and the price of Empire will increase. This will increase the liquidity pool. Moreover, the farming pools will let partner projects give their token to our space. Therefore, he believes that this is going to be beneficial for the holders of the Empire. Since, the launchpad, NFT marketplace, and DEX have huge fees. So, all of these will reward the holders.
On the investment front, Dulla was vocal as ever. He has been projecting himself as an influencer of crypto in the Arabic world. And this will soon bear fruit in terms of getting a lot of users to holders, even if small buyers invest in Empire. So, in terms of the number of holders, he is expecting it to increase a lot, and also through the new listings.
When asked about NFT collections listed on the marketplace and their use cases, Dulla stressed that the projects are going to be deciding on the use cases of their collections. Meanwhile, Empire will only be providing them a platform, which is the NFT marketplace, to trade their collections.
Lastly, Dulla mentioned that the Empire team will be more than happy to share a video with the community regarding the newly designed chat UI screens soon.
Let’s keep climbing together as a team and community until we reach the top of our Empire!