DeFi For You AMA Transcript

“DeFi For You is a peer-to-peer lending platform where you can borrow and lend against crypto and NFTs.”

Andrew (BSC.News):

Hello everyone and welcome to the AMA with DeFi for You!

William Gray – $DFY 🚀:

Hi everyone!

Andrew (BSC.News):

Today we have the CMO of DeFi for You, William joining us

Great to have you here William

William Gray – $DFY 🚀:

Great to be here Andrew

Thank you for hosting me and thanks to the community for being here

Andrew (BSC.News):

My pleasure !

So how this will work is, the AMA will consist of two rounds. The first round will be us going through the questions that I had prepared for you before hand. And then the second round will be a community round where I will open up the room to allow questions to come in. The second round is also where we will select the two winners of our giveaway 🙂

Sounds good with you?

William Gray – $DFY 🚀:


Before we begin, I have a quick message from our CEO – he wanted to say hello!


Andrew (BSC.News):

Haha awesome! too bad he couldnt be here to join us as well

But let’s jump right into the AMA

1. Please give us an introduction to yourself and how DeFi for You came to be.

William Gray – $DFY 🚀:

My name is William, but most people call me Billy. I’m the Chief Marketing Officer at DeFi For You. 

I came across the CEO Adam Chaplin in December 2020 after the DFY token had been created and planning was underway for the IDO.

DeFi For You came to be after Adam Chaplin, our CEO, who was a former founder at Travala .com (AVA) recognized along with Sean Mason, our CFO that the Covid-19 pandemic was going to have severe economic fallout and that lots of people and businesses wouldn’t survive financially

Sean Mason has been helping companies through bankruptcy for decades, and he was well aware that a lot of businesses have physical assets that they cannot easily finance. But if they could get a loan against the value of these assets, then they would be able to continue operating their businesses

We use pawnbrokers in the UK to store, value, and tokenize the hard assets, and then give the borrower the NFT representing it

The rest, as they say, is history 😉

Andrew (BSC.News):

Yeah that’s actually a really interesting concept that I saw when I first started researching your project

The idea that you kind of bridged the gap between brick and mortar to DeFi allowing NFTs to have the ideal use case of real life implications

William Gray – $DFY 🚀:

That’s exactly it. NFTs are only beginning to be explored and theres so much they can be used for besides digital art and such

Representing real estate and fractionalizing real estate is one of the main use-cases that we’re also exploring

We are building our own blockchain via Cosmos SDK called Dig Chain that aims to do this

It’ll be launching soon and the DIG coin will be airdropped to all DFY holders one-to-one

Andrew (BSC.News):

Right, the concept of crypto’s capability to be real estate has been a hot topic lately.

Oh very neat

so while we did briefly touch on it. There is still a lot to unpack here. So my next question would be

2. What is DeFi for You? What is the main mission of your platform?

William Gray – $DFY 🚀:

The main mission of DeFi For You is to bridge the gap between DeFi and the trillions of dollars worth of hard assets out there in the world. We want people to be able to get a crypto loan against their hard assets like luxury watches, cars, jewelry, and so on. 

We also hope to make financial services more accessible to people, especially in parts of the world where the centralized financial institutions lack stability and where inflation is a strong risk to people’s wealth. 

Many people and businesses, like I said before, have been hit hard by the economic fallout of Covid-19, so we want a way for them to gain access to credit (which the banks routinely tighten up on in times of economic crisis) by using their exisiting assets

One of the cool things about this system is that by taking your Omega watch, for example, to one of our evaluators and having it turned into an NFT allows you to get cryptocurrency without having to go thorugh a bank at all

While we are starting our phsycial asset NFT system in the UK (because logistically there is a LOT of storage and verification work that goes into it) we aim to build a model that we can replicate in other parts of the world later down the line

This would allow people in countries that don’t have wide access to banking services, or that have inefficient, corrupt, or unwelcoming banking services, to access the crypto market and begin making wealth in it

Andrew (BSC.News):

Wait so you are saying that if I had some nice jewelry, a car or any other asset, I can put that up as collateral with you guys in a physical location and receive for example BNB?

William Gray – $DFY 🚀:

Exactly correct

Andrew (BSC.News):

So in theory this route would provide a far greater earning opportunity because I now have access to DeFi whereas in the traditional banking system, I would only be taking on debt

William Gray – $DFY 🚀:

We’re already partnering with pawnbrokers, as they have the licenses and secure facilities, plus the know-how to value assets. But we also want to bring car garages into the mix, and specialists who could look at boats and things (boats are difficult to hide so they don’t need to be stored haha)

That’s right. You’d potentially take out a USDT loan using ETH as collateral, for example, which you can do now already on our platform. By the time you pay the loan back your ETH might be worth twice as much and you would have made a lot of money. The interest you paid would only be a small amount and your assets would have greatly appreciated in value

The same could be said for NFTs, and of course, once you have the loan you could use it to generate more wealth

Andrew (BSC.News):

Of course, that’s actually really neat

So let’s talk more about the actual ecosystem within your platform and the token that makes it all happen

3. What is the $DFY token? What are its uses on your platform?

William Gray – $DFY 🚀:


The DFY token is a BEP20 token on Binance Smart Chain. It’s predominantly used for fees, loan currency, repayment currency, and collateral on the DeFi For You lending platform. 

DFY is also used by our evaluators who assess physical assets, store them, and give the borrower an NFT representing that asset. Obviously the storage, insurance, and regular cleaning / checking of that asset costs money so they are rewarded for their part in this

We’re exploring later providing a discount to borrowers loan repayments if they repay in DFY tokens instead of the loan currency, but the logistics of this are still being worked out

Andrew (BSC.News):

Awesome thank you for that explanation, so essentially as a lending and borrowing protocol in DeFi, you would utilize a P2P lending system

But for those who do not know could you answer this next question

William Gray – $DFY 🚀:

Exactly right

4. What is P2P lending and how is it utilized on DeFi for You?

William Gray – $DFY 🚀:

P2P lending, short for ‘Peer-to-peer lending’, is when loans are arranged between two people independent of an intermediary. This means I can give a loan to you on my own terms with my own interest rate. You can do it for your neighbor, Sam can do it to John, and so on. 

P2P lending allows users to take full control of the lending process and set their own interest rates, much like how a pawnshop would do. These loans are collateralized, meaning the borrower has to deposit crypto assets worth more than the stablecoin loan itself and thus the lender is protected in case the borrower defaults or runs away with the money. Collateral is stored via smart contract so the borrower is also protected as the lender can’t access their funds unless they betray the terms in the contract.

The purpose of this is to finance your crypto assets without selling them. I firmly believe BTC will reach $90k to $100k, so I don’t want to sell my BTC, but I need some cash so I secure it in a smart contract on DeFi For You as collateral for a stablecoin loan. 

In this way, I can easily finance my crypto assets.

The NFT loans are also P2P, but we have more layers to it. Anyone can do crypto or NFT P2P lending on Defi For You, but for phsyical assets, you have to have a pawnshop registered on DeFi For You

To get a pawnshop you will need to lock up $10,000 worth of DFY tokens, as there are limited spaces available and this must be treated very seriously as a business. there are running costs and pawnbrokers must have the cash to supplpy loans. 

There are also partner pawnbrokers who lock up $40,000 worth of DFY tokens and can have finanical support for loans from DeFi For You. This means we’ll offer some money to cover big loans that the lender couldn’t normally afford

So there are sort of three pillars: 

– Crypto P2P


– Hard Asset P2P

Andrew (BSC.News):

Awesome William thank you for that explanation

5. What features do you offer on DeFi for You?

William Gray – $DFY 🚀:

I think we sort of covered this in the previous question, but I’ll provide a little more detail. 

For P2P lending we support 36 coins and tokens as collateral and loans can be made in stablecoins or other cryptos. 

We’re soon to deploy using NFTs as collateral and we highly recommend lenders chewck the previous sales history of those NFTs to protect themselves. 

The Hard asset NFTs we’re also deploying relatively soon. We’re creating a full backend for the pawnbrokers and evaluators to manage the NFTs they’ve minted for borrowers. This keeps everything organized and ensures people are rewarded for thier role. It’s a lot of work, but our head pawnbroker partner in the UK, Miles Mann, is doing a great job helping us to build this UI.

Andrew (BSC.News):

So how would the liquidation process happen if I was to put up an NFT as collateral?

For example let’s say I put up a crypto punk for a loan. Would the liquidation process take into account the floor price of the NFT?

William Gray – $DFY 🚀:

The liquidation threshold would be set as a percentage of the agreed upon value of the NFT. The lender and borrower can openly discuss this with one another before making the loan smart contract

The logical place to set this price would be it’s last sale price of that NFT

In general, lenders should put a low LTV for NFTs unless they’re very highly sought after, like Crypto Punks

Andrew (BSC.News):

Right, and are these smart contracts each newly generated or do you have one smart contract that embodies all P2P lending and borrowing?

William Gray – $DFY 🚀:

Each loan is it’s own smart contract

Andrew (BSC.News):

Gotcha, thanks for you answers

So moving on

6. Who are your partners? In what ways have they helped shape your project and how do they contribute to it?

William Gray – $DFY 🚀:

No problem 🙂

William Gray – $DFY 🚀, [Aug 25, 2021 at 8:40:30 AM]:

We’ve got several partners at this stage and we’re currently in talks to several more projects – some small and some very big. 

Miles Mann Limited and Cotswold Fine Jewellry Group are our pawnbroker partners in the UK – they’re helping us to create the whole Hard Asset NFT UI, the contracts, and so on. 

We’re partnered with Indacoin, who allow people to buy DFY tokens with Visa and Mastercard. 

We are also partnering with serveral BSC projects, beginning with SrnArt Gallery – these guys allow you to stake NFTs on Discord which is really cool. 

We’re talking to some Top 15 cryptos about partnerships as well at the moment with some very exciting things to come!

We also have Blockchain Developer Asia, who are our tech team and a partner of DeFi For You

Some partnerships are marketing-based, but in general any NFT project can utilize our P2P lending for their users

We bring more value to NFT projects in this way so they’re quite happy to partner with us. We spoke to Go Music in Brazil yesterday who are creating really cool band NFTs that give you perks like meet and greets and concert streaming

Some other projects we’ll be integrating their features into our platform to make it more efficent and connected

Andrew (BSC.News):

Wow, really a worldwide business!

So with a very diverse and intricate project that has a lot of ambition

7. What is the most important thing that you are contributing to the BSC ecosystem as well as to the future of DeFi.

William Gray – $DFY 🚀:

Yeah we’re trying to connect as much as possible

To BSC and DeFi in general, we’re contributing the first successful crypto peer to peer (P2P) lending platform. 

It’s an increasingly popular financial service, especially in the UK, but it hasn’t really taken off in crypto yet. But the stage is set for it to boom.

And of course, bridging the gap between hard assets and DeFi!

Now that we’re seeing NFTs represent gold, real estate, luxury items, and more. We think NFTs will be absolutely huge

We’re trying to get in early on this and make sure that people can take control of their own assets, by setting their own terms on our platform

Andrew (BSC.News):

Yeah this for sure sounds like the right step for DeFi in becoming that mainstream financial world that we would all like to see

8. Where do you see this project in 5-10 years?

William Gray – $DFY 🚀:


This is the big question!

Honestly, once we’ve successfully deployed our Hard NFT pawnbroking system in the UK we’ll be looking to expand globally, country by country

This is going to take years of hard work.

There’s a lot of on-the-ground footwork to be done. But hopefully having secured the UK, we’ll already be making quite a bit of noise and it should be relatively easy to get the ball rolling elsehwhere

We’ve already had some interest from New Zealand, France, and Turkey, as well as Vietnam where a lot of our team are based

I see us having a successful platform as well as a successful business model. I think you need both to really stand the test of time as a token project

And with our upcoming Dig Chain, we’ll likely be making a lot of noise in the real estate world as well!

If I may talk a bit about Dig. 

It’s our own blockchain, not a token, that will later provide governance features for DeFi For You, allowing the community to participate in the platform at a more hands-on level.

but Dig mainly acts as a way to NFT real estate. Dig Chain itself will be a ‘parent chain’ with lots of fenced sub-chains. Each sub-chain will represent a different country. The reason for this is that regulations surrounding real estate tokenization are tough and vary from place to place. Dig’s sub-chains will be able to comply with regulation in different countries

This will allow people to buy say 1% of a house and keep it while it’s value goes up

They could also loan against their real estate or trade it very quickly

They wouldn’t need a mortgage to invest in property

Between these two projects, we’re pretty much busy until 2030!

Maybe we’ll NFT Mars, let’s wait and see 😂

Andrew (BSC.News):

That’s awesome man for sure a lot that you guys are working to

So last but not least

9. Any exciting news you would like to announce here today?

William Gray – $DFY 🚀:

There’s a lot but most of it I can’t announce yet 😂

We’ll be launching Dig Chain soon – and anyone who holds DFY tokens will get the same amount in DIG coins

Andrew (BSC.News):

Alright haha, just give us the good ones

William Gray – $DFY 🚀:

I think that’s the most exciting thing we have on right now for sure

So if you have 10,000 DFY, you get 10,000 DIG, etc

Andrew (BSC.News):

Yeah that is very exciting news

William Gray – $DFY 🚀:

If you stake the DFY, you get an extra 50% as a bonus

Andrew (BSC.News):

and could you provide us links to your social media accounts so that the community here can go give you a follow?

William Gray – $DFY 🚀:





And of course our Telegram!

Here’s our website too

The whitepaper and other content can be found there, as well as the platform

Ah, we’re active on LinkedIn too

Andrew (BSC.News):

Great! Thank you William, make sure to go check them out for the latest updates and news about DeFi For You! Super interesting project with big plans for the future

William Gray – $DFY 🚀:

Thank you Andrew!This is a paid Ask Me Anything (AMA), BSC.News does not endorse and is not responsible for or liable for any content, accuracy, quality, advertising, products, or other materials on this page. The project team has purchased this advertisement AMA for $2000 Readers should do their own research before taking any actions related to the company. BSC.News is not responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods, or services mentioned in the AMA.

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