DFSocial
Hello everyone here’s the recap of the AMA we had with DFSocial at the Nerd Quarters
Ataxia
Hello!
Welcome! How are you doing today?
DFSocial (Official)
Great! Hope you too
Ataxia
I am! glad to have you here
Would you tell us a bit about yourself and the team before we talk about your project?
DFSocial (Official)
Sure. My name is Ibay, i am the CEO of DFSocial. I have been working for MicroStrategy since 2018 and I’ m now full in blockchain. Our team’s size is 6 right now. 3 of them are devs. We will reveal our identites soon (this month) when we publish our Twitch channel.
Let me please add that at the end of this AMA we will open a Google form for whitelist to participate in the 1st tournament. 10 seats secured per ama (they first ones to submit the form). Since for this first event the maximum number of players is only 100, this will prove to be a great advantage to participate as rewards are high ($11000 at current price!), so we strongly recommend to whitelist yourself. If you don’t get the seat on this first one, don’t worry, you will have priority again on next ones. And the number of players per event will be increased too!
Ataxia
That is fantastic! I’m sure it was a hard decision to leave such a nice position. But MS must have been having some interesting conversations about this way back when
DFSocial (Official)
I think they are just investing on Bitcoin
Ataxia
They have no clue then, it won’t be long before those get wrapped in ETH too.
Anyways
How did you come about the DFSocial idea? and how long has it been in development
DFSocial (Official)
I was just thinking about what Amazon’s owner did: putting together 2 great concepts. We are doing the same, with blockchain and gaming! The develop began in November 2020.
Ataxia
There’s definetly a big market there
Could you give us a quick overview of how the DFSocial protocol works?
DFSocial (Official)
Gaming market is huge, yes… Billions there!
Yes, our token is a standard ERC-20 token. It has been already audited. Functionalities of the token are: approve, transfer, transferFrom & balanceOf. No mint function. We have a first stage of DeFi services (staking and farming) followed by the gaming one. Gamers will be rewarded by playing and competing in the most well-known games.
How it Works?
Through gaming events: Tournaments & Leagues.
Each game has its own tournaments and leagues. Each tournament and league has its own rules. The rules determine the requirements for participation, the complete description of the event and the distribution of the prize.
To participate in a PRO event, special skills must be demonstrated during regular events.
This is a new concept: PLAY2EARN.
Ataxia
So all the gains are paid out in dfsocial tokens?
DFSocial (Official)
At the beginning yes, we are starting with DFSocial rewards. We have 5000 tokens reserved for gaming rewards.
And 1000 tokens more as reserves. But DFocial will be a very scarce token. 21000 is the max supply and 2 burn events have been announced. There are billions of gamers, so imagine if just the 10% of them want to own 1 DFSocial.
Ataxia
Indeed, it could be big
What sort of games are supported in the platform?
DFSocial (Official)
Well-know games such as League of Legends, Counter Strike… We also ask our community for feedback in this sense.
Ataxia
How does the platform know who won a match?
DFSocial (Official)
The game for the first gaming event ( starting 24th January) is League of Legends.
Ataxia
I actually played LoL a while ago quite a bit XD
I’d get back at it for the tournament
DFSocial (Official)
In this event the players have to climb up as many levels as they can during a week. They will be rewarded depending of the that.
Ataxia
So its the most ELO gains?
DFSocial (Official)
So imagine you climb up 10 levels and the whole players climbed up 100 levels. You will get the 10% of the total prize. In this case the total prize is 100 DFSocial ($11000) so you would earn 10 DFSocial ($1100). By playing LoL during a week! It seems like every gamer’s dream!
No, at least in this tournament. The player’s score is the number of levels they climbed up during a week. So our advice is to create a new account for this tournament.
Ataxia
Ah ok
And is there a verification process for the account?
DFSocial (Official)
No! You even don’t need to play by yourself. You can tell a friend to play that week and join with his username.
Ataxia
And how does the protocol know who won? is there a smart contract that reads a LoL match API?
DFSocial (Official)
The only requirement to join the tournament is to hold 1 DFSocial. There is a special bonus of 12 levels for holders of at least 5 DFSocial. With this kind of implementations we think we will push the price up.
The players enter their start and end level. So the contract just save the info. We have scripts that read the info from the contract and verify it with LoL API calls. Impostors will be automatically banned of course.
Ataxia
How can you tell someone is an impostor?
Ah
Ok
So you run an off chain verification
DFSocial (Official)
Yes! Which let us do it for free.
Ataxia
And then the owner calls the “disperse” function?
The script could actually if you gave it the private keys through a web3 call
DFSocial (Official)
It is a way of decentralizing gaming. We are really pioneers, there is another project similar to DFSocial, but we are x30 cheaper and we have a working product, so we are launching faster. Also seems like they are only focused on CS Go.
Yeah! You got it.
Ataxia
That’s a pretty cool implementation, i’ve been thinking about how to use api calls to feed into smart contracts myself, but doing it off chain is smart since it stays trustless
Do WoW arenas, my brother slays there and should make some money haha
You could actually do that with the mythic + system they’ve got maybe
Or how much honor was gained on a week
DFSocial (Official)
Yes, we already have many ideas… but the truth is that there is no limit here!
Ataxia
Yeah its a no brainer
So how is your LP porgram set up?
Is there a halving schedule?
DFSocial (Official)
What do you mean? Liquidity Providers?
Ataxia
Yeah
DFSocial (Official)
We have farming Vaults to reward those who lock their liquidity there. AKA farmers! There are huge rewards for them in DFSocial Farming Vault… Someone in our Telegram group shared his calculations and the average of %APY was over 3000%. It is crazy! Because there are not too many people farming right now, so few farmers are sharing huge rewards.
https://dfsocial.com/farming.html
You can check it here
Ataxia
Awesome! its going to be pretty good once people start to participate in the tournaments
DFSocial (Official)
Yes, the first is starting on 24th January! Only 4 days from now. Let me say again that to be able to join the tournament is a requirement to own 1 DFSocial. But joining is free!, you only have to own 1 DFSocial in your wallet.
And the total prize is around $11000 for maximum 100 players! So the average reward will be $110 each. It is very juicy to join
No halving, but a coin burn schedule.
Ataxia
Indeed! I really like how its set up
That’s good to know
Looking forward, what other features are you planning to introduce into the platform?
DFSocial (Official)
Good question! We will introduce PRO gaming events, only available for the best gamers. Also we will reward with unique NFT tokens to the TOP3 gamers in each event. Then we will also have leagues, with a longer duration than tournaments. Another cool feature we are planning to introduce is betting: holders will be able to bet on their favourite PRO teams during PRO gaming events. Our mobile App will be realesed this year, so you will be able to interact with DFSocial’s ecosystem through you smartphone.
No halving because no minting. All the coin supply is already minted and there will be no further minting. Although there will be burns as it has been announced.
Ataxia
Ah that’s a good clarification
This is all very exciting! i’d sure like to buy my fav’s players nft and have it yield based on their performances haha
DFSocial (Official)
That’s a good option. As a said, only our own imagination is limiting ourselfs right now.
Ataxia
That’s fantastic to hear.
I’m actually all out of questions, is there anything else you’d like to discuss?
DFSocial (Official)
Nothing else, thank you! I want just to remind i am going to send the link to the WHITELIST form. The first 10 people to submit it will be in the list to get a seat for the first LoL event. Remember there are only 100 seats available. Are you ready?
Ataxia
I’m so ready
DFSocial (Official)
Then…
https://forms.gle/fkvwuLDHeccS1bS9
Ataxia
Ok while that fills i’ll let anyone ask questions now
Thanks for being here, I enjoyed it alot
DFSocial (Official)
Thank you too!
