Crypto Wizards AMA With Five Elements System

Guest: Marcus (Regional Director)

Introduction:

1.Please briefly introduce the project to us.

Ans:Hello everyone, I’m Marcus, Asia Pacific Marketing Director of FES Five Elements Bingo. It’s a pleasure to meet you~

FES is the abbreviation of our company. Our company is an innovative high-tech enterprise with more than 20 years of experience in the development of B-side technical services. At present, our business covers 24 countries and regions, serving users from all over the world.

At the same time, FES is also the abbreviation of our entire project, Five Element System. Our entire project revolves around the "Five Elements" and takes the blockchain as the technical base; building a chain that includes AppFi, NFT marketplace, Exchange, Mining as well as Defi.
Recently, we have just launched our Bingo App APP, and launched our very first FES Five Elements Bingo platform at the same time. It has received a tremendously good response in the market.

2. For crypto enthusiasts who are exposed to the FES project for the first time, I believe that the fastest and most effective way to arouse everyone’s interest is to show data and currency prices. The FES numbers are said to be good, and we’d love to know.

Ans:Sure. I have a copy of the data on the first day of the APP’s launch.

Within one hour of the APP’s launch, the number of downloads exceeded 8,000, and the number of visits to the official website in a short period of time quickly reached 50,000. Within 24 hours of the launch, the new registration volume exceeded 10,000, and the deposit exceeded 10 million FEC. According to the current FEC price, it is about 3.22 million US dollars.

The latest data is that as of yesterday, our APP has been online for 13 days, with a total of 148,710 registered users, and the cumulative FEC investment has exceeded 2.5 billion. The number of game participants is rising every day, and the single-day personal rewards are constantly breaking records, the highest one being 39,520,000FEC

To add, FEC is our ecological token.

According to the latest FEC price I saw, it has risen from the initial private sale price 0.18 USDT to 0.322USDT . Its holding users and transaction volume have also been increasing every day.

Of course, this is thanks to the great support of our community partners!

3. With your intuitive data introduction, we can immensely feel the popularity of FES. What is the specific application of the Five Elements Bingo Platform? What can it bring us?

Ans:At the conceptual level, the FES Five Elements Bingo app draws on the elements of the Five Elements - mutual generation is mutual restraint. At the same time, it is also based on a simple financial common sense, flow generates value, and demand and supply determine price. Based on this, we designed a bidding application around the five elements. All users who participate in the bidding contribute to the liquidity of FEC, so they can get corresponding rewards, hence realizing the proposal whereby as long as users participate, “Everyone’s a winner”. This allows every user to share the benefits of the FES ecosystem.

The platform mechanism is such that the bidding cycle of the five elements will complete and reset every 24 hours, and continue on indefinitely. At the same time, the APP supports 3 major regions in the world mainly: Asia, Europe and America. Bids for each region are tabulated independently. Users can join the bidding App in that time zone by selecting their own region when registering.

Users can select one or more of the five elements, and use FEC to bid, and any amount of FECs can be used. By the end of the bidding, the element with the highest growth will be obtained and become the most popular element of the day. All users who choose this element will receive the corresponding FEC as a reward according to the percentage of the total amount of winning elements invested.

4. Sounds interesting,and I guess we now also have a general understanding of how the platform operates. But is there any special mechanism in it? Why does it attract so many people to participate? How does FES plan on realizing the analogy of “everyone’s a winner”?

Ans:The core concept of GameFi is the concept of Play to earn, but not every participant can earn it, and even the investment cannot be recovered. But unlike most Apps, what we want to achieve is for everyone to have more equal opportunities and get their own benefits through bidding in the App.

In many bidding Apps, which I believe most people have played before- losers pay for winners.
But not in the FES Bingo App. Even if the bid is not won, the player’s FEC will not suffer any loss, it will only be temporarily frozen, and will be released back through the App mechanism set by the contract.

Each player has two types of accounts, namely Account A and B.

Account A: It is used to store the FEC obtained by the user’s exchange and bidding. The FEC in household A can be used for bidding, and can also be transferred in and out freely.

Account B: It is used to store the FEC returned by the user after the flow of the bid. Account B will freeze it according to certain rules. When users continue to participate in bidding, or participate in the company’s other product application platforms to contribute to the circulation of FEC, these temporarily frozen FEC can be gradually released.
Under such a design, users have been jointly promoting the flow of FEC and increasing the liquidity of FEC, regardless of whether they have won the bid or not.

Regardless of the result of each round, the total amount of FEC held by users will only increase each time they play.

Let me give another example. For example, player A invested 30,000 FEC in the "earth" element in a certain round of the App. The number of users on the entire platform invested in the "earth element" was 120,000, and A’s investment accounted for 30%.

The other four elements did not win the bid, and the total investment of other users was 100,000. Then in this round of the App, the total FEC reward that the system airdrops to "Earth Elements" is 50% of 100,000. Proportionally, users can get 25% of the rewards.
The B accounts of the 100,000 circulating users who did not win the bid can be released back to Account A as long as users continue to participate in the bidding.

5.Well, it’s kind of interesting. In addition to the participation of users with real money, I want to know if there will be other feedback from players? Especially those players who didn’t win the bid?

Ans:We attach great importance to the voice of community users, and we plan to build a DAO ecological project in the future.
Decentralization is the ideal organizational form for Web 3.0, giving users more rights and allowing them to gain more.

But it is still early in the project, and team leadership is undoubtedly a more efficient way.
Of course, we are also trying some lightweight community autonomy. As long as users in the community contact us, any questions can be answered. If there are good suggestions, we will actively adopt them, and there will even be FEC rewards.

Like the player feedback you just mentioned, especially the users who didn’t win the bid. Currently we are developing the "Five Elements Bingo Adverse Game", and the main reason is the feedback from community users. In the communication and discussion with community users, we found that we really need more mechanisms to release the FEC held within players’ Account B. Hence the "Adverse game" is created.

In short, the adverse game is a part of the five-element bingo game, and its function is to further improve the release speed of FEC in users’ Account B. Users can participate in the “adverse game” if they continue to participate in the bidding and meet a required number of games.

This is only an overview so as to make it simpler for everyone to understand. I believe that the real App experience will far exceed everyone’s expectations

Listening to the voice of the community and involving the community in governance will be our long-term goal.

This is only an overview so as to make it simpler for everyone to understand. I believe that the real App experience will far exceed everyone’s expectations

Listening to the voice of the community and involving the community in governance will be our long-term goal.

Now we hold weekly community check-in events that every community player can participate in! In addition to the basic active rewards, there are also opportunities to win high FEC airdrop awards.

6. As far as I know, FES has also laid out the NFT sector. Why does FES want to venture into NFTs?

Ans:Well, 2021 has been a brilliant year for the crypto investment circle. Bitcoin hit new highs, Memes have become an indispensable trend and of course, that includes NFTs. I believe that everyone is very familiar with Bored Ape, CryptoSkulls, and Azuki. In addition to the investment value, the collection value and cultural value brought by NFT are slowly emerging.
More and more celebrities and Internet giants have joined. Microsoft has recently acquired Blizzard at a high premium. I believe that it will also deploy in the gaming NFT market in future.

NFT will be the entry ticket to the future Metaverse, and it will also be an important asset in it, which can confirm rights and value adds. Therefore, after careful consideration, we believe that NFT is also a track that we must lay out.

So our goal is to create NFTs with high collection value, so that more users will be able to enjoy the wealth appreciation brought by holding these NFTs.

7. The recent popularity of the NFT market is really convincing. What are the plans and layouts for the NFT section of FES?

Ans:The goal of our NFT market is to build a world-class NFT digital asset investment space, which mainly includes:

Build a basic transaction service platform serving NFT, and provide transaction support services for the tokenization of physical assets and the digital economy derived from the NFTs;
Provide NFT industry application solutions, where third parties can formulate reasonable NFT application models based on the actual situation of each industry;
Create a FES incentive ecosystem, which can integrate authentication, NFT-related production, circulation transactions, online digital exhibitions, auctions, digital asset mortgage lending and many more
The collections of the NFT platform will not only include FES unique digital commemorative gold coins, but also cover various types of encrypted collections such as digital pictures, movies and music.
From NFT digital asset casting, auction, mortgage lending, to NFT trading, the DAO community autonomy model will also be integrated into it.

At present, our NFT is already in its development stage. Focusing on the concept of five elements, we do not give designers too many constraints and time requirements. We want to give full play to the talents of designers and design works that are loved by the community and widely disseminated outside the community.

8. Well, the NFT layout of FES is very comprehensive. I am looking forward to the first NFT work of FES. After talking about NFT, let’s move on to the FEC token!

Ans:The total supply of FEC is 20 billion, which will be used not only for the five-element bingo App, but also for the entire FES ecosystem. There are three main scenarios:

1. Transaction exchange scene
Based on the previously accumulated technical strength, FES has also developed its own centralized exchange based on the ecology, and the decentralized exchange, in two steps in parallel. I believe that everyone is familiar with USDT, often used as a channel for investors and players to enter and exit the encrypted trading market, and as a trading exchange medium for a large number of currencies. In the FES ecosystem, FEC assumes a role similar to USDT. FEC supports exchange transactions with various other tokens in the DTC chain. Used in high-frequency trading scenarios, the value of FEC will rise steadily.

2. NFT marketing trading scenarios
FEC will be applied to the entire NFT trading and auction platform in the future FES ecosystem. In the blueprint we built, FES will establish the world’s leading NFT trading and auction platform with ultra-high security and multiple stable returns. FEC allows users to purchase various NFTs in the NFT market; it will also be more radical in the future. For instance, leaping through the boundaries between platforms, which enables FEC to exchange freely with other tokens issued in the DTC chain, and even cross-chain transactions, thereby enhancing the liquidity and interoperability of FEC tokens.

3. Metaverse scene
Finally, there is the metaverse. According to the current plan, in the subsequent big picture of the metaverse, FEC will be the token of the entire ecology. In the future, the FES metaverse will not only consist of one application, but a collection of multiple high-quality ones. Various types of applications will attract and serve different types of users. Users will get FEC, equipment-based NFTs, or other tokens in the application, but the final withdrawal will be in FEC.

9.Are there many AppFi tokens that will be integrated into mechanisms like DeFi or other mining? Will FEC include these as well?

Ans:This is a great question!
We have thought about this issue, and we already have a plan for the first step!
To reveal a little, in the future, we expect to launch the pledged mining by staking of FEC+U to get FIL in reward. The preliminary design is that the FEC is backed by Filecoin; 1 FEC = 0.25 FIL.
According to the FIL current price of 29 USDT, the price of FEC should reach 7.5 USDT. If Filecoin rises to more than 200, it will naturally be higher.
The specific pledge function has also been put on the development schedule, I believe we will meet you soon! We will have more details to disclose at that time, please stay tuned!

Twitter Segment:

1. Partnerships and Community Support are the most important thing for a project to grow. So can you tell us some of your strategies that how do you plan to keep community and partners happy?

Ans:let me share with you the strategy for our approach towards the Asian market.

firstly we will be doing all sorts of promotions and marketing over the social medias.

Twitter, Telegram, Meta, IG. These are juts some of the medias we will be working with. Because we believe support from our community is the upmost importance to us.

and talking about partnerships, we are on the DTC chain with 1000+ over merchants in the chain. these merchants will be the first outwards avenue for our FEC to swap.

2. How your tokens are in circulation and what is your total supply? What is the schedule for Unlocking of listen token? In short, please assist us with your structure of Tokenomics?

Ans:total supply of FEC will be 20 billions.

currently 1 billion FEC are currently in circulation.Our tokenomics are as follows:- 10 billion to be sold in private and public offerings- 5 billion to be used for airdrops and rewards in our FES ecosystem- 2 billion for teams rewards- and lastly 3 billion as reserve fund, which we can use to invest in profitable projects in our ecosystem.

3 .Does your project support staking program? if yes. how is your stake system work, what is the requirement for user if they want to stake in your platform?

Ans:Yes FES do indeed support staking. that is in fact in our pipeline for the next phase of action. we will provide with more information once we have something more concrete. but all i can tell you is that it involve staking and mining File Coin. Do stay tuned for our lastest update.

4. Can you tell us about the background and experience of your project DEVELOPMENT TEAM,? And how will they carry out your project during the current pandemic ?

Ans:ok a little about our management team:

our CEO is Robert Wong.he is the co-Founder of ChainBase, as well as a honourary member of the China-Asia Economics Development Association.

Our Chief Architech is Francis Chua. He was responsible for DiMuto, SGTech International Platform (SIP) and CargoSmart Global Data Solutions.

Our Chief Techincal Officer is Kerwin Gumede. Founder of United Africa Blockchain Association.

5.On your website you don’t mention that you have done any internal or external audit of your smart contract, so can you give us details if you have done any audit before? And in case you haven’t, would you plan to perform any review of your smart contract in the near future?

Ans:ok i am very proud to announce that our FEC smart contracts are audited by the two most strict and renowed auditors in the industry, Armors & Certik. so everyone can be assured and trust in us that your investmenst are in safe hands.