Recap of AMA with iBG Finance CEO, Samuel Chng
On January 11, 2021, our newly appointed CEO, Samuel Chng, starred is his first AMA (Ask-Me-Anything) event with external crypto community host, Crypto Irons.
In the two-hour event, Mr. Chng discussed a variety of talking points and concerns regarding iBG Finance and where the project is headed.
The AMA was divided into three segments, namely:
b. Twitter questions; and,
c. Live Telegram community questions.
What follows is a recapitulation of the event.
Can you briefly describe what iBG Finance is? We would like to know more about it and how it works.
iBG Finance is an ecosystem of smart DeFi wealth management products uniquely designed to bring simplicity and efficiency to users interested in entering the cryptocurrency and DeFi markets.
Right now our ecosystem has our Welcome Wallet (refer to earn), Farms (for staking, locking, liquidity). We are releasing our tier-based earning system in the middle of the year, which we announced last week.
iBG works like an amusement park. We have tons of rides and attractions for you to enjoy and earn from, and all you need is our native token, $iBG, to take part in the fun.
As the year goes on, more exciting things will be released, I hope you’ll all be there to see these happen.
Can you introduce iBG Finance? What critical problems does it solve that existing solutions are not solving and what’s the competitive advantage?
Whether we want to admit it or not, investing in DeFi is difficult a lot of the time, and to add to the problem, DeFi isn’t as decentralized as it’s meant to be.
iBG takes on the vision decentralized finance strives for and takes it a step further. No project out there has yet to create a platform with user experience in mind. No project till iBG.
Our mission is simple. In an industry that’s riddled with complexity, we bring simplicity.
Could you please elaborate more about your tokenomics? What’s the total supply and what kind of plans do you have regarding the token unlocks in the future?
Sure, let me share.
Name: iBG Token
Protocol: BSC, ETH & CGCX iChain
Total Supply: 45M (35M ERC/10M BSC)
$iBG (ERC 20): 0xf16cd087e1c2c747b2bdf6f9a5498aa400d99c24
$iBG (BEP20): 0x5c46c55A699A6359E451B2c99344138420c87261
All our tokens are unlocked already, and tokens used as transaction fees are burned to reduce supply.
Can you share the achievements the team has made so far? What are the major achievement targets iBG Finance is yet to achieve? If possible also share your roadmap.
A big achievement for us had been our recent acquisition by ICOA, Inc. Through them and their partnership with Scholas Occurrentes and the Transforming Education Donor Fund, we’ll be providing education to the youth through the distribution of NFTs :)
Last week we’d released information on our diversified wealth management portal, which we target for release mid-2022. You can read more about it on our Medium page
iBG Finance to launch wealth management portal
06 January 2022 (Republic of Seychelles) — As investors worldwide realise the promising opportunities in FinTech and…
Here is our roadmap :)
What is your knowledge in the field and what makes you an ideal team to make this project a success? And who are your strategic investors?
My career and expertise in the stockbroking, fintech, and blockchain industries are what I know will be able to bring iBG to greater heights
The team behind iBG Finance is composed of professionals from the same or similar backgrounds, coming together to build off each other’s knowledge and individual expertise to make iBG what it is today, and what it will be tomorrow
A strategic investor of ours is our recent acquirer, ICOA. They’re an internet provider company in the United States and service high traffic areas
We were acquired in October 2021 and with their backing, iBG only becomes stronger and has more leeway to envision bigger things for the project and our ecosystem :)
You can read about our acquisition here, we were featured by Yahoo! Finance
Almost 4/5 of investors are focused purely on the price of token in short term instead of understanding the real value and health of the project. Could you tell us on motivations and benefits for investors to hold your token in long term?
Our diversified wealth management portal and its tier system alone are a pairing that shows the power of our token
Our portal allows for crypto newbies, enthusiasts, and experienced investors to earn as high as 500%++ APY, but that all depends on how much $iBG you have with you
We take care of the nitty gritty details so you can make sure you’re maximizing your profits
We’re not reinventing the wheel, we make it run more efficiently, and I can confidently say that we’re the only DeFi project to do this
If that doesn’t interest you, we have our high yield farms on BSC and ETH. Even if you’re a short-term holder, I’m sure you’ll change your mind after seeing how much you earn overnight with our platform
NFT’s turnover in the 2nd quarter of this year has exceeded 750 million US dollars,an increase of 48% from the previous quarter. We have enough reasons to firmly believe that it is unleashing strong activities,& NFT dapps must be the next wave of growth in the blockchain industry?
I 100% agree. NFTs are taking the world by storm and iBG finds itself at the eye of the hurricane
As I mentioned earlier, through ICOA, we’re tokenizing and distributing NFTs created by renowned artists Mr. Brainwash, Domingo Zapata, and Martha Saenz
The proceeds are going towards providing global education to the youth in collaboration with two of the world’s most righteous organizations, Scholas Occurrentes and the Transforming Education Donor Fund
We’re honored to be given the opportunity to show the world that the change the blockchain can make is not limited to the digital kind :)
People always check about safety and security from any project because much hack issue right now, I would like to know how is the safety from your project? How did you make sure that you are secure?
We are the only POSI-insured token in the metaverse. That means our users don’t have to worry about losing their tokens, either due to errors or malicious third parties :)
Our smart contracts are also audited before pushing live, and farms have no rug pull migrator coding
We understand the need for safety and security, especially with your assets. That’s why we make sure to have these measures in place
IBG claims to make portfolio building and investment simple, and it takes care of all the legwork. So, do we just give Fiat to you and wait for our money to grow? How do we go about it, is it similar to how we go about it with traditional management platforms?
We take care of the legwork by providing you an array of safe and audited projects to put your money in. You can choose from the wide range we’ve presented and see how much of a return you’ll be getting from your investment
You have to be quick though! Projects on our portal only have a limited amount of slots for investment before they’re sold out for good
The higher your tier, the more projects with higher APY are provided for you to choose from, like so:
Stable Returns — projects yielding 10–75% APY
Medium Returns — projects yielding 50–200% APY
High Returns — projects yielding 500%++ APY
Here are our tiers for your reference
Bronze — 1,000 iBG tokens to participate
Silver — 10,000 iBG tokens to participate
Gold — 25,000 iBG tokens to participate
Ruby — 50,000 iBG tokens to participate
Diamond — 100,000 iBG tokens to participate
Jade — by-invitation only category for VC’s and large token holders
COVID 19 has slowed down many economies around the world but as a crypto business, does it affect you negatively or positively? Are you still on track to achieve your goals or are you planning a new development?
It’s unfortunate that the pandemic continues to affect us all, but at iBG we take challenges in stride and adapt
The blockchain is immune to infection, and although we are not, we are on track in regards to our roadmap and goals, and are consistent with our development milestones :)
We understand the disappointment when things don’t go to plan, and we take numerous measures in making sure this doesn’t happen
Live Telegram Chat Segment
Telegram Group, YouTube channel, Medium, Website, Twitter, Discord. You can share with us the link for your project in all these projects???
linktr.ee/ibgfinance this is the link to every social channel for iBG. We suggest you follow these to be updated. :)
So many projects just like to speak about the “long term vision and mission” but what are your short terms objectives? What are you focusing right now?
Yes. We’ve so much coming up in the near future. Currently we are focusing on various partnerships for example the acquisition by ICOA was to start off with. The next we can say is our NFTs coming up with Scholas.
The current focus is entirely on building iBG a wealth management ecosystem to make crypto investments convenient and safer for our investors.
Is your project’s community only for English speaking countries or for users not of other languages?
Vernacular content is something we aim at. We are very soon launching our regional communities with focus on investors speaking languages other than English. :)
We keep finding ways to connect with our audiences on a personal level. join our community for more updates: https://t.me/ibgfinance
Can you list 1–3 lethal features of this project that keep it ahead of competitors? Is your platform suitable for crypto novices? Or is it limited to professional users only?
iBG is for anybody and everybody! No matter what kind of investor you are, or how much you know about crypto
Here’s how we do it:
Crypto Newbies: through education and awareness via blogs and educational quizzes on social media
Crypto Natives : through active participations on community channels such as Telegram and Twitter (we have very strong followings on both)
Institutional Partners: we have strategic partnerships and relations with our partners who we host regular meetings.
Staking programme is very important for any project,?? Can i stake your token,? Do you have any plan of starting staking programme,??
We have existing staking program both on the Binance Chain and theEthereum Network, u can find them on bsc.ibg.finance and eth.ibg.finance respectively. We have both farms and staking programs there, hope u will enjoy the APR, which has already benefited all our communities.
DeFi has three areas: DEX, Total Assets, and Loans. What exactly is IBG Finance focusing on? What other plans will you focus on?
Yes, our platform is fully decentralized, and our upcoming projects of Launchpad with Tier Memberships, we will see enormous TVL in our pools, and that will definitely benefit the communities in the long run.
Do join our bonus contest: 10% bonus campaign: ibg.finance/contest
Participate in Weekly Lottery: Lottery: lottery.ibg.finance09:28 PM
Catch Mr. Chng in another AMA event coming SOON! Watch our socials for more updates: linktr.ee/ibgfinance