The Phenix Finance Team dropped by to talk to BugzKG about the exciting stuff they have been working on and to take some questions from the community. To celebrate the AMA, seven members from our community who partook in the Name the Phenix competition via Google Forms BEFORE the AMA were selected to win a WL spot.
BugzKG: Welcome everyone to our AMA with Phenix Finance. I will be your host today. Just a few quick things before we get started. This AMA will consist of the interview portion only. You are muted during this time. Before the AMA, the community was given a chance to name 6 Phenixs in a google form in order to qualify to win a WL spot. This is to prevent bots from winning. Phenix Finance has selected 7 winners from the qualified submission pool. Winners should contact Henky in their discord to be awarded a WL spot. Please be patient for payment. Thank you.
Welcome Phenix Finance team! It’s great to have you back. I hear you have tons of updates to share.
Maestro | Phenix Finance [Won’t DM You First]: Thanks for having us!!!! I’m joined with my colleague and team member from Phenix @PhilippeTheGreat
Philippe: Greetings guys!
Maestro | Phenix Finance [Won’t DM You First]: It’s a pleasure to be with you guys again
BugzKG: Welcome! For those who are unfamiliar with Phenix Finance, can you introduce yourselves to our TG members? What are your roles, etc.
Philippe: We are Phenix Finance, the first Titano fork on the Cronos chain. We are a rebase protocol that is offering 1.8% APY to the investors on a daily basis, which equals 66 666% annually. There is no need to stake, so you just buy the tokens and hold them in your wallet and the rebases are being done automatically and are auto-compounding– there are at least 30 rebases per day 😁
Thanks to our unique RX3 system developed by our lead developer Jake, the APY can be even higher than 66 666% if there are more transactions being done (the bigger the number of transactions, the higher the APY). The longer you hold, the more powerful auto-compounding interest becomes – eventually, after some tome, your investment starts to grow at exponential rate, which basically means that if you hold long enough, you will be in profits even if the price drops 90% or more! This is the power of the auto- compounding interest !! 😁 so, the longer you hold, the more you earn
BugzKG: Autocompounding interest is great! Love that APY! 🔥
Maestro | Phenix Finance [Won’t DM You First]: Well said!
BugzKG: Where can people buy your token $PHNX?
Maestro | Phenix Finance [Won’t DM You First]: Phenix can be purchased and swapped with Cronos’s leading DEX “Mad Meerkat Finance.” Alternatively, we’ve added a swap protocol from within our Dapp that allows users to purchase Phenix directly from the app, which automatically configures your slippage, making it a streamlined purchase.
ALSO just recently we’ve opened up a partnership with xy, which now allows investors to purchase Phenix with native tokens outside of the Cronos Blockchain! Therefore, if you’re holding BNB, ETH, MATIC< AVAX ect, you can swap directly for Phenix without needing to manually bridge your holdings!!! 🔥🔥🔥🔥
BugzKG: Wow! Not needing to manually bridge holdings is huge. It’s such a hassle.
Maestro | Phenix Finance [Won’t DM You First]: Totally, drove me nuts lol
BugzKG: Tell us about more about Phenix Finance. What makes it stand out from other Cronos projects? I know your a rebase token, but what other features set you apart from others?
Philippe: Besides offering a high, but also sustainable APY of 66 666%, we are also offering a vast majority of utilities.👊 Our plan is not to only create a token, but the entire ecosystem around it, and this is exactly what we are doing at the moment. Our mission is to add different elements to our ecosystem which are all gonna be connected with each other. In our ecosystem everything has it’s purpose. This is why we are launching our NFT collection on 10th June, because we want our NFTs to be“ the key“ to our ecosystem – they are going to have multiple utilities. We are also offering different utilities such as Phenix Lottery Pool, referral system, NFT staking and will be launching various decentralized applications within our ecosystem, such as Phenix Vault and Phenix Payroll System 😎😃
Maestro | Phenix Finance [Won’t DM You First]: It’s all happening!!! Ahhhhhh
BugzKG: Love your game plan and how you want to expand your ecosystem. I’m really interested about the Phenix Lottery Pool. What is the Phenix Lotto Pool? Is it correct that Phenix will offer services to project owners?
Maestro | Phenix Finance [Won’t DM You First]: SO much work has gone into these past few months, and we’re so proud of what we’ve been able to achieve and sustain
Philippe: So, Phenix Lotto Pool is a lossless lottery system where participants will be able to deposit their Phenix tokens and receive tickets in return. The lottery is going to be held every week. Once they are in, they will have a chance of winning the weekly reward that will consist of rebases collected from all the participants in the pool (when you are in the lotto pool, you are not receiving rebases). Ten winners are going to be selected randomly, and the 80% of the total reward will be distributed among them. 10% of the reward will be sent to the burn wallet, and 10% will be distributed among all the participants within the pool. So, you don’t pay anything, and even if you don’t win, you will still get something 😁 pretty cool. And the second question. Just a sec 😁
Yes, Phenix will offer a multi sig wallet as a service to other projects. We will basically be selling our service and build our treasury in that way 😁
BugzKG: The Phenix Lotto Pool sounds amazing. Definitely a huge benefit for the community. Plus it give investors something to look forward to each week! 😊
Maestro | Phenix Finance [Won’t DM You First]: Absolutely
Philippe: definitely , awesome utility 😁
BugzKG: When will the lotto pool launch? I’m sure many are excited for it to start.
Maestro | Phenix Finance [Won’t DM You First]: Haha great question! Jake has been hard at work with this one for a while, there are many different cogs moving within this protocol
Philippe: Everything is set and ready. We are just waiting for the launch day which is gonna be this week, probably in a few days. We will announce the official launch date very soon, so stay tuned. we are so pumped 😁😁
Maestro | Phenix Finance [Won’t DM You First]: It’s essentially written and currently being tested to the fullest extent, if you’ve ever talked to Jake you will know right away that he is an absolute wizard and will not release anything to his community without it working as flawless as he can make it, which means ALOT of testing and hard work.
That being said, our community and anyone interested in being in our community can expect to see this feature implemented VERY soon, we are literally on the brink of releasing it and we should see it functioning WELL before the end of the month 🔥🔥
BugzKG: So excited! Let’s move onto another exciting thing for you. Your NFTs!!
Your Flaming Phenix Club NFTs drop June 10 on Ebisu’s Bay! Please provide more details. Mint price, etc.
Philippe: Give me that!
Maestro | Phenix Finance [Won’t DM You First]: I’m so stoked for this one. You wanna take this question Phillipe?
Philippe: sure! So, the regular price will be 290 CRO. For white list members it will be 230 CRO, and for Ebisu’s Bay Founding members it will be 260 CRO. There are gonna be 6666 unique beautiful creatures, with 3 legendary ones among them 😁😁
BugzKG: What was your inspiration for the NFT design?
Maestro | Phenix Finance [Won’t DM You First]: They are absolutely stunning NFT’s with brilliant and eye popping art. Not one is the same and the amount of detail that went into the design is pretty staggering. We wanted to create a PFP style collection that holders can wear proudly to represent their community.
The 3 legendary NFTs involved in the mint will be completely random so EXTREMELY rare. Along with the variety of utility these bad boys will have, the lucky holders of these 3 legendary Flaming Phenix Club NFT’s will receive 2500 $CRO !!!!
The attributes are varied to a HUGE degree, there are SO many different styles. From expressions, to clothing, to accessories, to particle effects, to colour changes, to backgrounds, and there may even be an undead Phenix or two that has yet to be risen from the ashes……. 😉😎
BugzKG: So hyped!!!! 🔥I love the design. Great for attracting buyers plus great utility on top of it. The variation is amazing! 👏
BugzKG: What kinds of traits do the Phenixs have? What’s the rarest? I’m sure people are interested. 😅
Maestro | Phenix Finance [Won’t DM You First]: Haha for sure!
You’ll be able to see the heavily varied attributes on mint day, when listed on Ebisu’s Bay. From laser eyes, to a screaming phenix, to a business investment model phenix, it really goes on and on and I could fill up an entire AMA just discussing them alone lol. BUT as for the rarest, that will be the 3 legendary Phenix’s that will absolutely blow your mind with aesthetics.
I personally am attracted to the more dark and sinister Phenix attributes, which you and the community will absolutely love ❤️
Aside from the general public trading on Ebisu’s Bay, The Flaming Phenix Club collection will also, on launch day, be featured on Rarity Sniper!! Which will also be integrated in our discord so holders can verify their NFT’s rarity to flex that much further 💪
BugzKG: That’s great hear they’ll be featured on Rarity Sniper. People get so obsessed with traits haha. They all look so cool. 😎
Philippe: they are badass 😎
BugzKG: What kind of utility will these NFTs have?
Philippe: A lot 😁 I would like to emphasize the one of the very first utilities for our NFTs and that is so called lotto multiplier. So, for each NFT that you are holding you get provided with a multiplier that will increase you chances of winning the reward in the lotto pool. So, the more NFTs you hold, the bigger your chances of winning the reward 😁 We will also be launching a staking pool where you will be able to stake your NFTs and earn rewards in Phenix and CRO. NFT holders will also be provided with early access to all our upcoming decentralized applications in the future, and will pay reduced fees on all our platforms 😁
And much more utilities in the future. As our ecosystem will be growing, we will be adding more utilites
BugzKG: Great utility! The more NFTs you mint the better your chances in the lottery. Staking rewards and early access is great to hear.
Philippe: Exactly, pretty cool .We will also have anti-whale mechanism that will stop whales from manipulating the pool 😁
Maestro | Phenix Finance [Won’t DM You First]: It’s just a great thing to be able to offer holders and investors a direct utility once they mint. Many collections are under the paradigm of selling out and then adding whatever utility they can, we took the opposite approach and wanted to make sure that when you mint, you have something to look forward to immediately. Which heavily incentivizes holding among the community 🔥
BugzKG: Great approach. Yeah I always see projects do their mint first then add utility and that’s always a maybe. It’s nice to see a project have it all planned out beforehand.
Philippe: Every detail is planned 😁
BugzKG: What are your future plans for your project? Anything exciting down the road? You mentioned a few things but anything specific you want to emphasize.
Philippe: We will be launching various decentralized apps within our ecosystem. Some of the examples are Phenix Vault and Phenix Payroll. The Phenix Vault will be a multi-signature contract and will be a pretty strong resource in the malicious and dangerous DeFi space we currently experience
Phenix Payroll System will be a revolutionary, multi-chain, and secure decentralized application that allows business and project owners to utilize DeFi to manage their payroll
pretty revolutionary 💥😁
BugzKG: So exciting! Yeah definitely something new that hasn’t been seen before on Cronos.
Okay last question. Can you share your socials so people know where to find more information.
Philippe: of course. Just a sec !
- https://t.me/phenixfinance – our Telegram
- https://discord.gg/K6C7DkbK – our Discord
- https://phenix.finance/ – our web 😁
and one more thing
Would just like to add that our core team did a KYC with Assure DeFi. Our main dev Jake has even doxxed himself publicly, there is a video of him revealing his full identity on YouTube. We care about he security of our investors, this is the foundation of every successful project 😁
BugzKG: Check out these socials everyone! Being KYCd is huge in the crypto space. Tons of respect. 👏🔥
Thank you so much Phenix Finance for taking time out of your day to tell us about your project! The AMA recap will be posted later today. So please be on the lookout everyone! Timezones make it hard for people to attend. 😊
The following people have won a WL spot and should contact Henky in the Phenix Finance discord for their prize. Thank you.
If you would like more information on Phenix Finance and want to learn more please check out their discord and other socials listed above!
Have a wonderful day/night everyone! Unmuting chat now!
Maestro | Phenix Finance [Won’t DM You First]: Thank you so much. Pleasure to be here 🙂
Philippe: Thank you. It’s been a great AMA 😁💥