SolanaDaily hosts Codi Finance: #CodiFinance #protocol #SolanaDaily #SOL
Solanda_Daily Admin: Hello and welcome, how are you today?
Arvydas: Hello everyone, I’m doing well and it’s amazing to be a part of such a large solana community. We are delighted to show you what we are developing!
Solanda_Daily Admin: Happy to hear! Ready to start our AMA?
Arvydas: Yes, our engines can be started. I’m eager to answer any queries you may have.
Q1: First of all, please introduce yourself to us. How and when did you start your project?
Arvydas: I’m CEO of Codi.Finance. My career began as a poker player, where I was rather successful in regional tournaments. I gradually established a routine and expanded my portfolio. At the time, I and a buddy started constructing an algorithmic and artificially self-learning software, which we sought to deploy and compete against other bots and players. I relocated to the United States after the Lithuanian government changed its rules and outlawed all poker-related games. There, I made some new connections who exposed me to some of the world’s most brilliant minds who were already dabbling with crypto.
Codi was discovered as a result of my and my brother Sigitas CTO vision to create an ecosystem around a single token. Within a week, we had a plan on paper, and I chose to quit the project I was working on previously to work on a more exciting one. We were able to obtain a seazoned brains and had time to test ourselves in a startup atmosphere to determine whether we would operate well together. So far, everything has gone quite smoothly and we like working together.
Q2: Can you briefly describe what Codi Finance is?
Arvydas: Codi is a new project based on the Solana blockchain that we aim to expand into a larger ecosystem in which many applications can co-exist and create an environment similar to a search engine in which you can find on-chain applications of Codi that meets your needs, but also with layer-1 solutions explained for beginners and demonstrating how DeFi can improve their lives, as well as layer-2 solutions for experienced DeFi pioneers in our space, ensuring our ecosystem’s sustainability for a longer period of time. We are nearing completion of our token presale IDO pool’s smart contract, which will be posted to our GitHub repository within the next week.
Q3: Please share with us the background of the team behind this project. What are your past experiences?
Arvydas: Codi Finance is comprised of the following groups of teams. Deivydas is the chief marketing officer. He leads the marketing department, which is responsible for all contracts and relationships with news publishers and marketing organizations. He also supervises our content managers Ehindero and Victory, ensuring they are current with the knowledge they are needed to present to the public.
I’m responsible for keeping everyone awake and ensuring that everyone in the project team is doing their job as well as I continue to build nessecary relationships and searching for integrations for the project. Sigitas Kublickas, our head of technology, leads a team of Pakistani programmers with exceptional capabilities. They are presently concentrating their efforts on the establishment of IDO SC.
Andrius, Codi Finance’s Chief Financial Officer, oversees and advises on the financial aspects of the project, as well as ensuring that all transactions are completed and documented accurately. Vilius and Shedrach are in charge of design. Xavier, Paulius, and Raimondas are in charge of human resources in the sales and post-sales departments.
Numerous members of our team have prior experience working in a handful of DeFi firms. Several of our experiences are documented in our LinkedIn profile.
Q4: Could you please tell us more about the features of your platform?
Arvydas: We will be working on adding a loan and borrowing option. This is a feature that will require much time and effort to develop and calculate to achieve optimal efficiency. CODI will achieve what no other Solana-based blockchain has: a simpler IDO/DEX with a functioning ecosystem capable of offering such value via a single token. The first part of the IDO smart contract is nearly complete. The second third of this section entails developing a governance framework for our IDO platform. When you stake CODI, you obtain xCODI, which enables the Platform to keep track of how many CODI Tokens you previously had. When you unstake, you receive your CODI back, and the Platform burns xCODI. While your CODI is being staked, you may use xCODI to provide governance and other incentives.
Additionally, we’ll begin developing the NFT marketplace and incentive mechanisms that will surround it in late Q4 since we believe the metaverse will play a role in the future, with individuals revealing their identities via NFTs.
CODI is examining the market’s potential demands. Making a strategy is straightforward; we will devote our hearts and minds to executing it and developing high-quality protocols.
Q5: Can you elaborate your tokenomics, token use cases? Does it get audited?
Arvydas: Sure, to begin, maximum of 330 million CODI tokens will be ever created. According to a Sunday 17th report, 32% of the 99 million allotted to private sale has already been divided among private sale investors. The remaining 66 million tokens will be utilized in the November 14th Initial Coin Offering (IEO). Additionally, 33 million tokens will be utilized for the November 7th launch of IDO. The remaining 132 million tokens will be subject to a minimum 6-month vesting period, following which they will be issued in 10% increments each month. Our tokenomics analytics include information on the allocation of these tokens as well as other variables.
Beginning early next year, token holders will be able to stake our tokens off-chain, as well as on-chain in Q2. Users will receive LP Tokens xCODI for staking. It empowers CODI Token holders with voting rights and further decision-making ability over the project’s direction. Additionally, Codi lowers trading fees and provides access to bigger staking pools, calculating your contribution to freshly listed IDOs.
For further incentives related to our token on other protocols, you may learn more about the Codi ecosystem and access information on our Gitbook.
Currently, there are no reputable audit businesses on Solana due to its early stage, but we are witnessing some new growing projects that will be able to supply us with audits in the future. We also want to be able to trust 3rd party organizations, and due diligence takes time. We will do our own audits first and will offer a demonstration for data collection and testing.Q6: Let’s talk about partnerships & influencers that you are collaborating with.
We’ve just formed an integration with one of the most well-known DeFi blockchain projects. However, owing to confidentially, we are unable to provide any further information at this time. On October 27th, the whole unveiling will take place. We are constantly on the hunt for new partners who can help us advance our initiatives and include communities into them.
Q6: Let’s talk about partnerships & influencers that you are collaborating with.
Arvydas: We do have some effective marketing campaigns operating in the lead-up to our debut. Everything is in place for a solid start.
As mentioned previously, we’ve recently struck a partnership with one of the most well-known DeFi blockchain initiatives. However, due to the nature of the material, we are unable to share any more information at this time. The entire event will take place on October 27th. We are continually on the lookout for new partners that can assist us in expanding our projects and incorporating communities. We are currently developing further integrations and relationships; simply wait and stick with us and you will be able to track our progress.
Q7: Can you share your Roadmap in the next 6 months?
Arvydas: Our six-month plan is quite clear. Marketing and brand awareness are the first priorities. The company plans to list on an exchange in December, followed by a dex listing and listing expansion in early Q1.
As we work to increase the utility of our tokens and grow our community, we will diversify our workforce by adding additional professionals and continuing to establish a strong marketing and brand awareness campaign.
In Q2, we want to launch our IDO launchpad with stake tiers.
Develop NFT’s collection and marketplace in the first and second quarters of the next year, including exclusive discounts for Codi token holders. While we are and will continue to work on these, we are constantly on the lookout for new market opportunities and will use DAO to influence and reflect market demand for the future growth of the Codi’s ecosystem.
Q8: Where can we find out more about Codi Finance on social media?
Arvydas: Sure, we’ll supply it quickly. A lot of information is available if you seek for it. Here are our social media pages:
CODI Token Contract: https://explorer.solana.com/address/yvbrxE6zjrA8SxxSpL7oojDBB5QDmF5CVqJWea8JcQE
Private Sales Email: email@example.com
Telegram Community: https://t.me/codi_finance_community
Telegram Announcements: https://t.me/codi_finance
Solanda_Daily Admin: With this, we are now at the end of our AMA session with Codi Finance.
Time for wrapping up, any last words you would like to say to our community?
Arvydas: Numerous initiatives are merely misleading promises produced by copying existing ones and bearing a strong resemblance to current ones. We have features that are unique to Solana and all the other blockchains. We are creating a unique environment in which we are distinguished from the competition.
Yes, cryptocurrency is a mix of capitalism and the wild west. In the context of Solana, there are currently no IDO/DEXes in use, and we are developing our own solution from the first line of code.
We’re glad you spent your time and entertained us! And a warm welcome to all new members of the CODI family! 🚀
Solanda_Daily Admin: Thank you so much for spending time with our community & all the very best for Codi Finance.