On December 15, Obed Tiony participated in BinanciansVN AMA session to introduce Crafting Finance - A synthetic asset issuance and trading protocol on Polkadot as well as answer some questions from the community.

Crafting Finance is a synthetic asset project that provides the issuance and transaction capabilities of various synthetic assets, which can support the issuance and transaction of almost all types of cryptocurrency assets and real assets.

Below is a summary of the outstanding questions and answers from the AMA session.

1. Many projects promise a long-term plan, big mission and great success in future but never release any working product or revenue. What makes your project different from these projects? Could you share some big achievements that you achieved in 2021?

Obed:

What distinguish us from other projects are:

NFT Fraction Trading -As an energy for the Future.Which means not Only ERC20 Tokens, But Also ERC721 And ERC1551 Tokens Could Be Minted To ERC20 Synthetic Assets. lt’s this uniqueness that sets us apart from others.We can see Nft Fraction Trading in this project where NFT is very important

Flexible Collateral - we will allow use of different kinds of Collateral in the Forge for example BTC , ETH,NFT,CRF,DOT, KSM,etc the collateral rate is different for each kinds of the tokens Universal Raft-Raft will support almost all kinds of potential synthetic assets. Optional Crafting-User could choose whether entering the SDP, which will allow flexible position choice.

NFT fractions-Crafting finance will support the NFT synthetic fraction rafts. Low Slippage-Due to the sharing of the whole SDP’s liquidity, the price slippage of trading in Kingsman is significantly lower than existing exchanges.

I think the most important things currently are launching the platform, starting the liquidity and reaching a market cap of our RAFT. And we will focus on listing more kinds of synthetic assets and improve the TVL and market cap of the RAFTS. We will also launch our DAO system, which means Crafting finance will become a distributed project and the best news is that we have just started staking , and the crafting NFT campaign just kicked off.

2. Partnerships are one of the important factors for every project. Could you name some of Crafting’s partners? What are the benefits that you get from them? And is there any partnership that will be established in the near future?

Obed:

Crafting Finance is backed by plenty of Institutional investors, The names are Signum Capital, CMS Holdings, NGC Ventures, Continue Capital, LD Capital, Longhash Ventures, Northbund Capital, PAKA Capital, SNZ Holdings, Spark Digital Capital, Titans Ventures, AU21 Capital, Magnus Capital, Moreover part of our program will be deployed in Near as they will help us a lot with our project. We are still in communication with other partners and more details would be published later .

3. What is the Crafting token used for? How can I get Crafting token? What are the benefits of holding your token long term?

Obed:

$CRF is the project token as well as the governance token. the parameters involved in CF, including the increase or decrease of the types of collateral, the adjustment of the collateralization ratio, the types of synthetic assets, etc., can be determined by voting by CRF holders.We have ways to encourage users to hold CRF.

The system will also reward the users who’re using the CRF as collateral, so the investors will choose to forge to get the reward, which will also benefit the liquidity of the system. The fees collected from trading in Kingsman will enter the fee pool. Those fees will be used as rewards as well as buy back and destroy CRF.

Users who choose not to join the SDP will pay interest on their synthetic assets, and the interest will enter the interest pool. Those interests will be used to buy back and destroy CRF. With all these three incentives, there will be a very solid support for the price of CRF and it will be beneficial to the long term holders.However , we are going to launch sooner than later , probably this month on 17 th that you can get our token . So stay tuned !

4. What role does the community play in Crafting Finance? What have you done and will do to attract people to join Crafting Finance and build a thriving community?

Obed:

They take the role of community or retail investors as one very important aspect and factor . Since for any project to succeed and be global there should be a very huge wave and support from communities , so recently we have been trying to work with various communities from different regions around the globe , mostly interacting through marketing and having AMA and other activities. We are also looking for more partnership .

5. SECURITY is so important with all of us nowaday. How do you ensure that the assets of your users are safe and secure? Do you have insurance for users?

Obed:

Security is always our top priority. We will do a code audit and a lot of trial runs before the mainnet launch. And the project is fully decentralized and open-source, so everyone can check the code on Github

6. Tell us what your plans are for 2022? What are you doing now and how do you plan to expand and grow your project?

Obed:

Although we have already stretched a very long path . We invented optional joining of SDP and where we can find that users can still trade in Kingsman even without joining the SDP. We have also found ways to improve the utilization rate of the user’s collateral rate.In the development process, we have completed the demo version of the SDP, Forge and Kingsman.We may do IDO next month. And as I said, the most exciting milestone will be the launch of the main net in Q4.

Moreover we are currently focused on the following objective to see that we accomplish them as soon as possible .

1. Realization of Kingsman version 1.0.
2. Realizing of the function of fee pool: transaction fees are included in the fee pool to complete the benefit distribution of CRF users.
3. Realize the trading function on the Web end, allowing users to freely trade various synthetic assets.It’s convenient for users to stake CRF or DOT to mint rUSD and destroy rUSD. Allow users to view the debt ratio, total system debt, balance of personal synthetic assets, rewards income, etc

7. You will support NFT synthetic fractions. How are NFTs fragmented and fractionalised? How does this allow you to create NFT liquidity and tackle NFT trading issues?

Obed:

Crafting Finance will add the NFT fragmentation function. Crafting’s NFT fragmentation will be dedicated to solving NFT liquidity and trading issues, providing a huge impetus for the development of the industry.

In Crafting, they will support any kinds of NFT for users to stake into the Forge system and forge the factions of the NFT, just like other kinds of synthetic assets. Basically, the system will support two kinds of fractions, SNFTRafts and BNFTRafts.

SNFTRafts is the single-mode, which is suggested to be used for the rare NFTs. The user could set the name, initial price and amount of the tokens. After the mint of the SNFTRafts, the NFT will be locked into the Forge-SNFT-Vault. The NFT will be unlocked only if any user buys it.

BNFTRafts is the bulk-mode, which is suggested to be used for the common NFTs. The NFT will be minted to the collection-BNFTRafts, of which the name and amount will be fixed. Users who hold enough BNFTRafts could redeem the NFTs locked in the Forge-BNFT-Vault, and the redeemed NFT will be randomly chosen.

Both the SNFTRafts and BNFTRafts can enter the sharing-debt-pool (SDP) or not, and both can be traded in the DEX, Kingsman. They believe Crafting Finance will provide an excellent liquidity solution for the NFT market, it will not only support trading, but also the upcoming NFT lending and even derivatives market.

In the live questions section, Obed did answer several short questions from the BinanciansVN community.

1. How old is Your project? What are the major plans ahead? Could you show us an image of your roadmap?

Obed:

We have dedicatedly worked for this project for almost a year now . As we started it last year in Nov and we are still pushing on.

2. Marketing is a central element for every project, so that everyone knows the potential that a project can bring is vital to achieve the goals set. What is your strategy to attract new users and investors to your platform and keep them long term.

Obed:

We are having vibrant AMA's going on at the moment , having different activities , operations, pledged incentives and to be on exchange , moreover we will continue to have more different project collaborations .

3. STAKING is one of the STRATEGIES to ATTRACT USERS and HOLD Them and long term. Does your GREAT PROJECT have a plan about Staking?

Obed:

Staking campaign https://twitter.com/CraftingFinance/status/1470695283549868035?s=20

4. Is your platform suitable for crypto beginners? Or does it only limited for professional users?

Obed:

Our platform is user friendly for both beginners and experts . So don’t worry ..we do also have material to guide you on the way forward and how to use our platform. We also encourage non crypto users .

5. Are you planning to promote your project in countries / regions where English is not good? Do you have a local community for them to better understand your project?

Obed:

Yes ! We have been doing this just from the start of our project . We want to reach different more regions through partnering and collaborating with communities .

6. Where can I currently buy Token?

Obed:

Stay tuned . Follow up with our social media links and get more updates . It’s the best if you can join our community.. since you will get instant information

7. NFTs are hot trending now, Do you have a play to have NFTs in your platform? If so, can you tell us the plans of your project in NFTs?

Obed:

In fact today the Crafting Finance NFT campaign has kicked off!!

In the past we continued to grow and polish our product from portfolio assets to portfolio NFT, thanks to the community of users to accompany us. In order to thank you for your support and hope that we are seen by more users, we are now launching a campaign to do tasks to get exclusive NFT, pledge NFT to get $CRF. The best part is that we support fractional NFT which will enable retail investors to buy NFTs , and this solves the problem of liquidity.

8. Can you explain how your Tokenomics Distribution is? How many tokens Will be minted ? And How many tokens Will be locked by the team?

Obed:

TOKENOMICS Max Supply: 2,000,000,000 The Crafting Finance (CF) token is $CRF, with a hard cap of 2 billion TOKEN DISTRIBUTION

• 40% for liquidity Incentive
• 19% for offering and sale
• 1% for initial liquidity
• 14% for ecosystem partners
• 6% for project marketing
• 5% for advisors
• 15% for team

$CRF is the project token as well as the governance token. the parameters involved in CF, including the increase or decrease of the types of collateral, the adjustment of the collateralization ratio, the types of synthetic assets, etc., can be determined by voting by CRF holders.

About Crafting Finance

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