LBank AMA Recap with Hungarian Vizsla Inu
On 4 March we held an AMA with the Hungarian Vizsla Inu, hosted on LBank official telegram channel. If you missed this telegram session, here’s another chance to get a full transcript of the AMA event.
Q1:Could you please give us a short introduction of your coin?
A: The name of the coin is Hungarian visual, and this is an investment and also a charity coin. We started the project last year. We came from the country of Hungary and in our country, this was the first coin on the finance smart chain. And we gained quite a lot of exposure last year.
It actually became our country’s first, the highest market cap coin
with a great community of over 40,000 holders. And it was a very great start last year, and now our real focus is a global expansion to extend global leagues.
Q2: Many new projects develop well at first, but then fail to achieve good results. How will you manage and develop your project to gain a position in the market and become a good project in the blockchain industry？
A: First of all, many projects can be good at the start because there is the hype, there are the formal, and all the effects that are going home. It happened to us as well. So as we started, we were in the formal site. I think all of the participants know that after the hype, many coins will fail or tokens will fail. And for this, we have developed some utility for our project. For the age, because we know that if we want to do some big things in the future, we have to get some utility. Our main utility is welcoming from our own uniquely developed NFT market, which is an own-based program, the NFT market on the codes. And the fuel for this market is HVI. For our market, it’s a standard BNB so we are on Bscsan. And we are working with BNB. And all HVI holders can share the profits of these transactions. Our main response or answer for this question is that we saw that after the hype, we have to make some utility and we are currently working on this in the forms of NFT market and in other forms.
Q3: We see many new initiatives in the NFT market, and we saw you’ve been also developing in this area. Can you tell how is it new/different from the market?
A: The most unique is not just the one that we have made background transactions from BNB to HVI but the other main thing is that we are working with organizations, with shelters to be very exact, and with our first zoo. Our other feature is that we are working with organizations, and one of our main purposes is to bring the adoption system to the 21st century by the power of the blockchain. The people who are going on our NFT market can see the meeting back to the point that we are developing an adoption system for the 21st century. And by this, we are the people who are visiting our NFT market, they can buy the pictures and they are not just a picture but they can actually adopt the dog. We are our system. And the money he transfers for this picture can go directly to the shelter. Later on, they can trade on and they can recurrently trade with these pictures and a small proportion will go back directly of the amount to the shelters and also shut down.
The next one is the zoos because now we’re in Hungry, we have the topic area, which has a quite big zoo with sharks and other animals. We wanted to bring the zoos and the people who are visiting the zoos to the block chain technology. And the small children or the older ones can adopt these animals. And also after that, if they are very enthusiastic, they can trade with it to gain possibly some profit because we know that the NFT market is real huge. And just in January, there was 7 billion dollars in terms of turnover. So this would our subject to gain a good moment on this market and with a good cause, and also with the possibility to trade it for possible profits.
Q4: I read on the site vizslainu.com about automatic rewards where All HOLDERS receive gifts from transactions. For all transactions, whether sales or purchases, 12% of the transaction value is redistributed to the holder. Mr. Gulsen PETER and Mr. Galavis ANDRAS, can you please describe to me how it works to get automatic rewards?
A: Besides charity, that’s a really good purpose that we just described.
but we are also here to make some money. And what we also see is that earning some kind of passive income, simply by holding the coin is quite a nice thing. For this reason, we have decided to build into our smart contract, an automatic system. So whoever holds the coins outside centralized exchanges will get automatically paid back from all the transactions. Actually, 12 % of all the transaction is redistributed among the holders. And it can be quite a big amount. So imagine if you have 23 million, So you can imagine that if there is 1 million volume traded in the Hungarian digital token. Then every day on that day, one hundred and twenty thousand USD will get redistributed in the percentage of your holdings. So it can be quite a big amount, and it also helps to get passive income for all of the holders. But at the same time, it helps incentive rising who others not to sell their coin.
because then they will miss this opportunity.
Q5:Can you please highlight more on the decentralization aspect using your technology. Also in the future, is it possible to quantify the level of decentralization and economic incentivization?
A: To state it explicitly, this is the NFT marketplace that we developed ourselves. Here, is the incentive part, which is the key for decentralization. From each transaction, it gets converted automatically to add Hungarian visual in the token. So it automatically without any promotion, without anything, automatically generates demand for the token. So that’s perhaps decentralization. The second thing there will be served three. By the way, the second thing is this 12 % reward that we just described. And the third one is that we started to have a quite smart system. We have the third-party tokens like a separate blockchain. We behave like a separate blockchain and help other tokens get into the market. And when they get into the market and when they have transactions, transaction volume, then it also automatically generates demand for the visual token. As a central developer team, we don’t have to do anything. But all these platforms that we are in helping to create demand and help to make the whole visual ecosystem themselves sustaining decentralized ecosystem. So that’s what we have now. We want to go further into the NFT marketplace. We want to bring in new tokens. Although this is a long-term vision to have the whole, these lines were decentralized the community token. They still see a lot of opportunities to build as a developer team.
Q6:Revenue is an important aspect for all projects to survive and sustain. So how does your project plan to generate profit and revenue?
A: The success of any tokens or any coins, or basically any product on the market is how much demand, and how much revenue. And this way we approach the market is relieved. And by the way, the reward system partly does the top of generating the demand. And it seems to be working quite nicely. So we are really proud to became the biggest token from our country. And now we are talking about global expansion, which is a big thing. Here comes the 4th point that is key. And this is the global expansion. So we want to bring in new holders, new people to the NFT marketplace. New third-party sub tokens also do charity in these markets. But doing this, we can grow even further ride market cap, which is still pretty low, so has big upside potential, the 3 million USD and also had user base, which is now around 40,000 tokens. These four things, we see a big opportunity to drive the revenue and demand for the visual annual token.
Q7: If transferring HVI from trust wallet to album exchange, what would be the transfer fee?
A: There is a fee for sending in their token to a bunk or any other exchanges because it’s in the system. This is the 12 % reward. We are also providing for our holders. So anyone who has currently HVI in his trust wallet. He wants to transfer it to an album to trade and do all the stuff with it. It will have a fee. This is the standard fee that has it on right now is 13 %, which is part of a reward for the holders.