On September 23, 2021, our Telegram AMA session with our CEO, Aneesha Reihana, was a great success. We want to thank everyone who participated and waited patiently for their questions to get answered. It was an enjoyable and memorable event for us, especially witnessing the overwhelming support from our community.
The topic of the AMA was the introduction of the newly appointed CEO and questions regarding the upcoming features of iBG Finance.
There were two parts for today’s AMA:
- Fixed Q&A: Aneesha answered 8 questions that we collected in advance via DM from other channels of Social Media for you to get a greater idea of iBG.
- Free Q&A: The chat group was opened, and our community raised their questions for our CEO.
AMA with Aneesha Reihana, our New iBG CEO!
New CEO Introduction
We’re pleased to announce that we have appointed Aneesha Reihana as iBG Finance’s new CEO. Aneesha’s appointment clearly shows the company’s present state: ready to launch in the future and fired up after another substantial milestone of growth and accomplishment. iBG Finance is poised for significant expansion in the cryptocurrency industry, and we’re excited about what Aneesha’s unique experience in fintech and blockchain technology can bring further success to our project.
Aneesha brings 15 years of experience in Business Strategy, Finance & Tech. She executed milestone FinTech projects and was actively associated with CBDC research papers. Also, she advocates DLT for inclusivity and banking the unbanked, so she engaged herself in Blockchain technology that has granted her the opportunity to become a domain specialist in blockchain, fintech & digital transformation.
We have a great team here at iBG Finance. Aneesha will be an inspiration to build upon that team as we continue developing features that our community can make use of. We intend to grow the team, provide users the resources they need, and advance to become the best blockchain project of today.
Q: They mention that iBG is the only DeFi coin insured in the Metaverse, very interesting, but what benefits and/or advantages do iBG coin holders get from being insured in the Metaverse, and how does the iBG currency differ from an unsecured currency in the Metaverse?
Aneesha: iBG is insured by POSI (Public Offering Security Insurance), fully reinsured by Lloyd’s of London Syndicates, rated minimum A- by AM Best.
Q: What factors will the iBG Finance development team focus on ensuring that their community continues token growth iBG, how mechanisms will drive such token growth, and how they intend to increase the demand for the token iBG in a healthy and agricultural way?
Aneesha: Through community engagement, iBG has a vast community of network leaders who have previously worked with many different DeFi projects.
Q: How do you keep your customers’ assets safe from hackers? How do you manage if there is a cyber attack on your platform that will infringe on user privacy? Is iBG Finance protected and ready to deal with this issue?
Aneesha: iBG Treasury is held in insured custody service provided by CGCX Custody. CGCX custodial services are insured, and they have robust 7 layer cold storage architecture.
Q: Share with us your plans for the future. Do you think you’ll be able to bring everything you’ve planned to life? What do you want your project to look like in five years?
Aneesha: We have very exciting partnerships lined up and announcements to be made from October onwards. Our partnerships are formed with our business strategy in mind:
- Trust in iBG
- Product Awareness
- Domain Knowledge
Q: A strong community not only brings interesting ideas to the project but also attracts larger partners. So how iBG Finance planning to build its community? And is there a plan to recruit people with Blockchain experience to the iBG Finance team?
Aneesha: We have been committed to being active and responsive to our community like TG. Some of the community feedback that we implemented in the recent past includes: Superstaking time locks were implemented community’s feedback on the time lock mechanism for our booster farms.
Our team is diverse, with members from various backgrounds and domains complemented with crypto/blockchain knowledge.
We are committed to continuously training our team members in this nascent domain where knowledge and know-how are constantly changing.
Q: How is project development going? Can you describe in detail current development efforts, market expansion plans, expected applications, and when will they become commercially available?
Aneesha: We launched iBG Wallet in the month of April 21 focusing on community network participation & incentivization for referrals. We will roll out a robo advisor feature in our App with a refreshed branding, look and feel. iBG Wallet is available in stores but the RObo advisor feature will be rolled out soon. We will announce the sneak peek of product look in October 2021
Q: Can you list 1–3 killer features of this project that makes it ahead of its competitors? What is the competitive advantage your project has that you feel most confident about?
Aneesha: Gamification of crypto investing in hooking users to features using games and a fun interface. Platform for non-crypto users with little or no crypto product knowledge. Enable seamless crypto investing through a guided recommendation and purchase journey. Competitors are mostly still catering to Defi native investors. Not the crypto newbie masses.
Q: My question is, How do you plan to spread awareness about your project in different African countries where English is not spoken well? Do you have local communities for them to let them better understand your project?
Aneesha: Please connect with us via our telegram community, and we will be happy to spin off language-specific communities to cater to native African speakers. Our App is available in multi-languages too.
To our iBGians community, thank you for joining our AMA, and see you all at our next event.
Q: Adoption is one of the important factors that all sustainable blockchain projects should focus on to be more attractive in the investors’ eyes. What did iBG Finance do and plans to do to achieve real-world adoption?
Aneesha: As a Product co-creator, I have spent years researching and strategizing suitable products to enable inclusivity for the mainstream market. My product design principles include — low margin, asset-light, scalable, innovative, and compliance easy. — this is an important foundation for the longevity of any fintech project.
Q: During your project development, did you consider community feedback or requests to further expand on new ideas for your project? Many projects fail because they don’t understand their target audience and customers. So I want to ask Who is the most ideal customer for your products?
Aneesha: Yes, we do. We have an interactive community on telegram & Facebook where our team directly communicates with the community on a daily basis.
Q: Your project is very important and quality full, but it needs large user traffic to be sustainable over time. What marketing strategies do you have planned to increase the validity of your brand? Are you planning any strategic way to level up your project?
Aneesha: we have a comprehensive marketing strategy in place to target audiences from the various segments via community building by collaborating with other ecosystems. Yes, we are indeed leveling up to retain trust and loyalty in our project. The news and PR will be rolled out accordingly.
Q: Liquidity won’t increase/decrease. Multiplier is fixed. Total allocation points seem to be fixed. Price seems like the only factor. If not, please provide which variable is subject to decrease.
Aneesha: There are many variables in the ecosystem that affect the price that is automated and fully decentralized to the community. We are continuously working to keep the project alive by remaining active in the community, responding to feedback, and implementing those that will boost the price and project integrity.
One of the major factors that will strongly boost the price is releasing the much-awaited Robo Advisor — happening soon.
The marketing team has planned impactful campaigns aligned to major FinTech events to boost brand awareness and visibility.
Q: Until APR do you plan to give during these months to come since I see that it decreases every day the apr both of farming and staking, but I do not know until at least they will arrive, which is the first minimum that you are thinking of giving in the future.
Aneesha: PR is dynamic. The estimated calculations are stated. However, APR depends on variables, including emissions, TVL, etc.
It is the same for all DeFi farms — APR is only the best estimate until the point of withdrawal.
Q: I just like to understand what will happen next. I can see iBG $0.302 and $0.267 price, where is the price $2.83 everyone is talking about?
Aneesha: We have Liquidity Pools on Pancakeswap (BSC) & Uniswap (Ethereum). It is common for such price variances in different networks based on their AMM.
iBG Welcome Wallet (Dapp available on AppStore and PlayStore) price is based on an exclusive community incentivization program that was launched in April 2021. It is independent of our LPs & farms on the DEXes.
Q: Recent developments such as Superstaking and lottery are only focused on the BSC network. I think there should be more buyers there and for the cost of ETH fees?
Aneesha: Our Robo advisor app is on ETH, and all the transaction activities will be on ETH. Meanwhile, we are leveraging the low gas fees on BSC to offer various trading features like the upcoming lottery until the launch of the Robo advisor.
Q: Where is the bridge to move our wallet tokens to BSC?
Aneesha: Bridge will be implemented when Robo advisor goes live in October 2021.
Q: 50% of funds collected were supposed to be placed into liquidity funds on DEXes. If the token price is US$2.80, it means over $2 million in tokens have been sold, and therefore there should be US$1 million in liquidity. I understand that only $40,000 liquidity has been positioned by iBG. Please clarify the position.
Aneesha: Liquidity Pool Provision included all protocols that the Robo Advisor will interact with to enable users to trade their iBG tokens in the supported DeFi platforms.
Q: So how soon should we expect the V2 (Robo Advisory with rule-based), and what new unique features will the V2 wallet be coming with that will make it a better version than the V1 welcome wallet?
Aneesha: iBG Robo Advisor (v2) will be launched in Q4 2021. v1 & v2 will be independent apps.
Q: The ETH farm does not reflect the actual minted amount, as only 10m is allocated there. The pre-minted total should be kept separate and not visible in the ETH farm.
Aneesha: Only 10 million of the pre-minted allocation is budgeted for the ETH farms. We have locked this allotment and kept it separately (iBG Treasury Wallet).