We’re updating you early!
This July edition of our monthly report cover in details the current Defimable APYs, Total FMB in circulation, Fima Pools Summary Report, Defimable Team as well as the new additions, updates to our platform, ONE BIG ANNOUNCEMENT and relevant links to how you can connect with us or get onboard our rocket to the moon. Hang on tight as we cruise through all our achievements in the last three months!
Defimable is all out for everyone invested on our platform to win, any day and any time. Our revenue distribution is first structured to be in line with the pools we fund or then percentage FMB subscribed by the investor. The revenue from Fima Pools is shared amongst our token holders, the real warriors of Defimable!
With the $FMB, you can either subscribe to any of the business pools open for subscription as this entitles you to a share of the revenue generated from a matured pool or stake to earn rewards. Once a pool matures, Defimable pays a certain APY to the investors on that pool, which accumulates throughout the stipulated period. This APY is then distributed as the total amount of $BUSD rewards to subscribers of that particular pools. Subscribers can claim rewards earned on “Distribution Day.”
Our APYs are based on the discount received on the trade receivables by the businesses that make it to the Fima pool. However, since pool maturity on Defimable takes less than 70 days, these APYs are subject to the maturity days. Below is a summary of the Fima Pools report for March (there’s been no pool since March due to our rebranding).
Fima Pool March Summary
FMB subscribed: 2,089, 912.5766 FMB
FMB unsubscribed: 1,575,215 FMB
BUSD Reward: 300
Businesses Funded: 14
DAU and Platform Traffic
The DAU for the month of March was slightly higher than that recorded for January and February. This has been due to the relative stability of the cryptocurrency market. Sadly, due to the bear market, this was rather destabilized.
New Events and Platform Development
In January, we held our first Virtual Community Chat on our Telegram Channel and the entire Defimable team was available to answer questions from our users, potential users and everyone else in the community. Another community chat held on 1st of April 2022 with token rewards to users who asked important and insightful questions around our use cases as well as value positioning.
Recall that in January, Defimable formerly FarmBit was nominated by TechPoint Africa 2022 Awards in the category of best alternative use of the blockchain in Africa. As at February, total circulating supply of the FMB token was 2.225 million. This represents about 70% of the total supply. Furthermore, we made additional changes to our website to improve user experience.
Concerning our roadmap, the team is still opting to follow initial roadmap and this current roadmap will allow the team focus on our current projects and development as well as allow them the flexibility of changing priorities should the need arise. Our flexible roadmap helps us to be proactive to opportunities and changes in the blockchain industry.
This, perhaps is the most important aspect of Defimable asides the businesses and our team members. Our community is the backbone of all we do at Defimable; they are the true warriors, believers and champions of the cause we are building day and night on Defimable. While we have certainly had our ups and down as a community, we have continued to grow the platform.
We have an incredibly strong base of over 50,000 members from which to grow from as we move further into the year. Our new chatbots as well as UI will continue to add new features to the community and with the undeniable support of our team members, we will proactively anticipate any future changes and adapt accordingly.
One thing we have incorporated into our community management strategy is our monthly virtual community events where we interact with our community, members, get feedback and brainstorm on how to make Defimable better. This culture will be sustained and we hope that it will go a long way in making our entire members feel heard, appreciated and most importantly a sense of ownership and belonging.
We also have added new hires to the team at Defimable in the following capacities:
2. Business Development
3. Branding and Design
With these new hands, we are all set to strengthen our stakes and lengthen our cords on the blockchain scene. Together, the team will collaborate to strengthen Defimable’s narrative while pushing both marketing and creative boundaries to ensure that we achieve our goals of onboarding new members as well as closing some partnership deals we have our eyes set on.
The legal aspect will continue to ensure that we are legally-compliant in every aspect of our business and also protect the interest as well as investments of the businesses on our platform, our investors and Defimable as a company.
In the next few months, we are going to push harder to grow the value of our tokens, increase partnerships and onboard new users. We are also focused on getting our users (new and existing) acquainted with our brand story, use cases and also onboarding process.
This report scratches the surface of all the awesome work we are set to do in the month of April and indeed, the entire team is hopeful that April and subsequently the remaining months of the year will be the beginning of better beginnings for Defimable.
We cannot thank the entire Defimable community enough for their passion and dedication to Defimable; this is an important reason why we won’t give up. We will work harder to reward this trust that has been vested in us by the community and make Defimable a most formidable blockchain Trade Finance Platform on the planet.
After months of development and in light of the exceptional progress we have made in the past few months, we are pleased to finally announce that we have been developing our own mobile app and we will soon welcome you to join us in the Beta Testing Phase. There will be many awesome surprises, changes and rewards to look forward to.
Since we have bragging rights, one distinguishing feature on our app will be the ease it will bring to our users especially when interacting with Fima Pools or purchasing the $FMB.
On behalf of the Defimable team, we want to thank our teeming users for the month of March, cheers to an amazing month ahead!
Remember, with Defimable, everybody wins.