coinwire.com hosts an AMA with FITE. #FITE #BNBChain #BSCDaily #AMA
Coinwire Admin: Good day everyone! Welcome back to another AMA with BSCDaily 🤝 Today we welcome FITE to our humble group chat
Russ: Nice to see you guys
Coinwire Admin: There’s our AMA Hero for this session! Pleasure to have you here with us Russ. How’s everything?
Russ: Glad to be here, thanks for the opportunity.
William: Hi all
William: Greetings William!
Coinwire Admin: Thank you guys for being with us. Whenever you guys are ready, we can start the AMA!
Russ: Yes! I’m ready! Our community is hyped today
Coinwire Admin: Excited to this session to, FITE has some strong communities 🙌🙌
Q1: Kindly introduce the main members behind FITE. How experienced are they in Blockchain development? Are they public?
William: Great. I can go first. Hello, this is William, founder of FITE App. Since 2015, I’ve been an investor in several blockchain projects as well as an advocate of blockchain technology and its usage in real-world scenarios. Our three co-founders not only have rich work experience in the sports, network and finance industry but also joined the blockchain industry very early. Why do we take action to do this fitness project? We love fitness, definitely. All of us are used to doing exercise after work every day. In 2018, I began to plan and implement the concept of combining good sports and fitness projects with the blockchain to provide a large number of users who like exercise while exercising with a more relaxing and exciting space.
Russ: Hello, I’m Russ, I manage tech and operations. I have over 10 years of technology experience in international companies, I have led several tech transformation projects in my career, and became active in the blockchain sector in early 2014. That’s a brief intro about our speakers, we will introduce more about the whole team. We are very lucky to have a group of developers from the top 3 DEXs and designers from one of the largest sports brands. They are professional, innovative, and energetic. Most of them are all doxxed. You can view their complete profile on LinkedIn.
Coinwire Admin: That’s quite an intro there! What a team! Let’s talk about the project then.
Q2: You guys have been emphasizing a lot about “fitness”. So please give us an overview of FITE. How long have you been in development? What is your mission?
William: FITE is the project which started in 2018. All the founders are sports lovers. They believe people like to express themselves through physical activity. They may be gifted with stamina, energy, strength, agility, and maybe passion.
Russ: The goal of FITE is to make fitness more interesting and more people to join the fitness area. Our mission includes:
1. Build the platform for fitting fans
A good society attracts more fans together to build great, so a successful and stable platform is necessary for FITE.
2. Protect the private data
On the blockchain, everyone is anonymous, and all transactions are processed publicly and searchable. No one could steal or hack private information. Safe private data is one of the basic requirements for FITE.
3. Make fitness funny
FITE supplies the virtual FITER for every member, players can customize their virtual role, and these virtual roles can do fitness with players. FITE believes funny fitness is the power for most people. Also, we will add more elements at FITE.
Coinwire Admin: I love this concept!!!
Q3: What does FITE offer users that’s unique in comparison with other web3 lifestyle Dapp? What makes FITE better than other Move To Earn projects?
William: In FITE, users experience more than simple fitness and can use our Dapp to measure the data during fitness and the data results after fitness. We give users the complete version of the experience, and users can also learn how to earn more money in fitness. We are constantly developing our apps with new, innovative, and creative ideas. Currently, the app can organize 2 types of events: offline and virtual events. Both events will feature a real-time dashboard that will allow you to view the progress and results of event participants.
Russ: You‘ll also have full control over the revenue from managing your organization’s events. In future updates and upgrades, we will provide FITE to more businesses or stores so that their sports brands can partner with us. That’s the key point of FITE.
Coinwire Admin: Looking forward to FITE virtual fitness events hosted by the community. Right, so currently we can hosts events and earn revenue from them, but I believe the revenue is for the organizers
Russ: Our beta version will be released soon! This summer
Coinwire Admin: Meaning in Q3?
Russ: It’s in our roadmap
Coinwire Admin: And we will be discussing that in later questions too. Next question:
Q4: How many ways can users earn profits within FITE? How does FITE survive and prosper in a bear market?
Russ: Users can earn profits with FITE in three ways. The first and the most exciting way is work-out to earn $FTE. You just need to simply download the app from App Store or google play. Register with your phone number or email. Join a free or paid challenge. You can then choose to submit the results of the selected activity from your fitness device (Strava, Fitbit, Garmin with Apple Health and Google Fit coming soon) to the FITE app. You will earn coins by submitting results. Attention, users who submit fake results will be permanently banned. After submitting the results, a daily ranking will be generated and $FTE will be allocated to your application wallet accordingly after 00:00 UTC the next day. Every result submitted through the API connection will send you $FTE as a reward. Secondly, you can join the $FTE token presale at PinkSale now. We believe that the price of $FTE will go crazy. When we release the beta version and launch the app officially I mean. Moreover, you can earn FTE soon. As you can see from our roadmap, FITE staking will be released in Q3. Users will benefit from the strong ecosystem and earn staking rewards.
William: As for your second question, I always believe that there is no bear or bull market, only buidl market. We will deploy smart contracts, test applications, and process marketing campaigns for the FITE team no matter how the market goes.
Russ: BUIDL is important no matter how the market is.
Coinwire Admin: Agreed. A big, vital part which decides the success of a project is its community. FITE has all of these wonderful features (integrated with Apple Health and Google Fit), but then if nobody cares, then that’s a waste. That’s why I have to ask
Q5: What‘s the progress of community development? What’s the market plan and the current achievement? How does FITE plan to sustain the incentives to make users stay?
Russ: We have more than 27k Twitter followers and over 112k telegram members so far. That’s crazy! We value our community members, so strong sociability is one of the key features of the FITE app. We’ve already cooperated with more than 60 influencers on Twitter, Telegram, TIktok, and YouTube. The Reddit marketing campaign will start this Friday. You might have noticed that lots of influencers already shilled for FITE together with various events, including shilling, fitness videos, and meme contests. The most popular one is the $FTE token giveaway event on the gleam platform. We have already received more than 70k entries. You can find the airdrop information in our telegram channel. The giveaway event will end on 11th Aug. Welcome to join!
William: To make the project sustainable and develop for the long term is very important! In fact, with the rapid development of blockchain, we have noticed that there are now a large number of low-quality blockchain projects in the entire market. Many blockchain projects still remain at the level of web2. Most projects were born in the name of the move to earn but only paid attention to the EARN part. Our team believes that the move to earn should be a bilateral growth situation, which must be profitable and playable so that FITE can survive in this market in the future. The interesting social function can attract users to use the app for a long time, and when they find their fitness habit can bring them $FTE rewards, users might be much more addicted to it to a large extent. In addition, we will develop and launch more interesting modes to continuously empower $FTE and ensure FITE’s healthy and sustainable development.
Coinwire Admin: True, but then it’s really hard to make this happen. I would love to know more about token models.
Q6: So can you share with us your tokenomics? What are the use cases of your tokens? When will it be listed on exchanges?
William: Sure, $FTE is the fitness and governance token for FITE. Here is a chart showing the allocation of FTE token. Not like other move-to-earn projects with the dual token system. In FITE, we will only need to use one single token to realize all the functions, including fitness to earn and community governance. $FTE holders can determine the project’s developments. It can be purchased either through FITE’s presale round or DEX/CEX after listing. Upon launch, more FTE tokens can be earned by staking or by using the FITE app for various fitness activities.
Russ: Now the presale of FTE is still live. With staking your FTE, you’ll get platform rewards which are collected either via the staking platform or the in-app purchases. A user must reach a certain level in FITE to start earning FTE tokens. So, with the FTE token, users are able to stake or purchase the in-app NFTs, sneakers, accessories, and mystery boxes through the marketplace. We already hit the soft cap. The PancakeSwap listing time of FTE is 2pm UTC tomorrow! Set your alarm, guys! And we have already coordinated with 6 CEXs for the listing issue; as we planned in the roadmap, $FTE will be listing on at least 4 CEXs in Q3. That’s all about FTE tokens.
Coinwire Admin: Dude you are wayyyy over the soft cap now. https://www.pinksale.finance/launchpad/0xFFf549959a081E6ef4D973d7D9621BA4b24ba4E2?chain=BSC
This is the link to their presale, check it out peeps
Russ: It’s a fair launch presale, so there is no hard cap!
Coinwire Admin: Congrats man, a successful presale even in bear!
Russ: Thanks! We pay more attention to BUIDL!
Coinwire Admin: No doubt! Ok, let’s move on to your NFTs now.
Q7: Please introduce your NFTs to us, what are the benefits of holding instead of flipping them for profits?
William: Good question! NFTs and NFT marketplace is an interesting topic. At present, there are eight types of wearable NFT, including tops, bottoms, swimming wearings, swim glasses, and sneakers. The specific information of those NFTs can be viewed on the Opensea. They are unique to each owner and used for identification. For example, if you own an NFT, you will receive a deed proving ownership. If you buy an NFT wearable on FITE, the wearable will be your property, and FTE will be the deed of your property. Once you own the NFT, you can use or sell it however you want. You can set any price you wish in the blockchain world.
All NFTs from FITE will be traded in Opensea and our own in-app trading market. At present,
Russ: Users can use ETH to buy NFT. The platform will charge a 2.5% transaction fee, and all the fee incomes will be used for the repurchase and destruction of $FTE in the market.
Coinwire Admin: So basically, the benefit right now for FITE NFTs is proving ownership, so that you can trade it on the marketplace. Sounds good to me, let’s head to our next question here
Q8: How is your security? In case of an exploit, what will you do to reimburse investors?
Russ: To ensure the safety of our users, we have partnered with reputable auditing firms to check all the functionality and security of smart contracts. You can check the audit report presented on GitHub. Besides, the team also successfully implemented KYC for AMA and marketing posts with the 2 biggest communities on BSC. Your community – BSCDaily and BSCNews. For the FITE app, we have already finished thousands of times testing and we will do a beta version test which is open to some of our community members to ensure the safety and stability of the app while released.
William: We are confident with our security process, and in case of any exploit, we will guarantee the interests of our users by offering 100% compensation.
Q9: What’s in development right now and will be released shortly at the end of 2022? Are there any events also for people to join FITE?
William: The app of FITE has already finished the last test within the development team, and we will launch the beta version soon. The Dev team is still focusing on app development and staking function. At the same time, the operation and marketing team are doing their best to reach as many possible users as possible. We wish to present a perfect fitness & social app for our community members to use.
Russ: We host different kinds of events every day, and both are easy to join and win big rewards! This AMA with BSCDaily is also one of the events users can join and earn 200$ rewards! You can follow our Twitter or subscribe to our telegram channel for the latest updates. We are so happy to see you guys join our events.👍
Coinwire Admin: Correct, remember to join their telegram, follow their twitter to win this AMA prizepool!!!
Coinwire Admin: With this we are now at the end of our AMA session with FITE🔥🔥🔥
Time for wrapping up, any last words you would like to say to our community?
Russ: Thank you so much for having us today! We will have a long term partnership! Please stay tuned for both of our telegram channels!
Coinwire Admin: Thank you Russ for being here! And that’s right, I would love to collaborate more in the future. Thank you guys once more for coming on and introducing us to FITE! BUIDL!!!