The Tezos Dev Series: Roman Krestianinov (FlameDeFi)

by | Jul 13, 2021 | DeFi, Latest

In this 3rd edition of the brand new ‘Tezos Dev Series’, Roman Krestianinov from FlameDeFi delves into the all-round DeFi project he and his team are building, the FlameDEX, a new wallet, the intersection of NFTs/DeFi and ‘Why Tezos’.

Note: Articles in the Tezos Dev series represent submissions from developers building on Tezos.

Disclaimer: DeFi is high risk and the following article contains no financial advice and contains the author’s opinions only. It is recommended that thorough research is undertaken on any DeFi/blockchain applications, utilizing multiple sources, before participating with any blockchain projects, or tokens in this space. Read our full disclaimer here.

FlameDeFi Background & Team

My name is Roman Krestianinov, I am 35 years old and from Russia. I currently work as Founder on FlameDeFi. But I did not initially start off on blockchain, it took several years to do so. I used to have a construction Business in Russia.

Then I moved to an online business because there were more prospects there and I was not tied to one single place. At first, I had a small entertainment service for adults on the Internet, and then we began to develop online projects to order.

I have been engaged in cryptocurrency since the end of 2015, I started developing custom projects in the field of blockchain in 2018. I have been an investor in Tezos since the ICO and have been waiting for a long time when it will be possible to implement my own project on the Tezos blockchain.

This moment came when I realized that DeFi had come to Tezos. We are 8 in the team at the moment with many nationalities (Russia, Poland, USA, France…). Our tech team is 2 back-end devs, 1 front end, 1 UI designer, 2 support guys, we also welcome Audric to help with communication and partnerships.

The goal of FlameDeFi is to become a global Tezos DeFi platform. We want to connect all the Tezos ecosystem together (NFT, YieldFarming, DEX, Game…). 

FlameDEX

At the moment, we are developing our own FlameDex. Our Dex will include a public API so that services such as Coinmarketcap or Coingecko would be able to track price dynamics and other indicators of tokens on the Tezos blockchain.

We want to give people the opportunity to exchange their tokens for tokens, as well as add liquidity to the token and token pairs. Our FlameDex will be launched onto the test network this month. And the Mainnet in August. 

When NFT meets DeFi

We are launching our « SpaceFarmers » NFT project on July 15th. We really want to connect the NFT artists with the DeFi of Tezos. 10 SpaceFarmers – 20 pieces / Spacefarmers – 10 collaboration first different artists – First Edition.

We will have collaboration with some big NFT names, but we also want to put some lights on very talented artists.

SpaceFarm

We are also upgrading the UI on our SpaceFarm and upgrading smart contracts for the farms. The UI upgrade will be released in the next two weeks. The upgrade of smart contracts including farms with auto compounding will be somewhat later.

At the moment, we have smart contracts of the third version that include commissions for the withdrawal of profits, but this option is not enabled on all farms. In the near future, for the purposes of the experiment, we will issue smart contracts with commissions for the withdrawal of the deposit.

All the commissions we receive will be used to buy back and burn flame tokens. By doing so, we are looking to control the inflation of our tokens.

This is why we chose to have a lower APR than farms like Plenty or Crunchy for example. We are here for the long term.

Wallet

We also have our own wallet for Tezos, fa1.2, and fa2 tokens in development.

The wallet will be released after the launch of FlameDEX, approximately in September. At the moment, we have 18 farms, including our native farms.

Such projects as USDtz, ETHtz, CVZA, Tezonians, Tezos Spanish, Quinella, Raven, FKB, BRR have kindly agreed to cooperate with us for the development of DeFi on Tezos.

Of course, we will expand the number of farms on our platform. Our goal is to become a home for all projects on Tezos.

Lottery: Welcome to the Poker room!

This week we are launching our lottery. This will work as two types of poker Jackpot poker and Caribbean poker. We will write more details about this in our article on Medium. 

Gaming will be one of the main part of FlameDeFi. We will bring more and more games and $FLAME will be the utility token for playing.

Also, all the commissions that we receive from poker will be burned to compensate for the inflation of the flame token.

We hope that gambling will attract more new participants to our ecosystem. 

We also cooperate with the Staking Rewards project. Our $FLAME token is now listed on their website: 

 stakingrewards.com/earn/flame

We are the first Tezos DeFi token to be listed and we think this should have a positive impact on our popularity, but also on the entire Tezos DeFi.

Natives tokens

We have 2 tokens: $Flame and $fDAO. Flame is our utility token. You can use them in farms, lottery (poker) and it will have more use in the future.

The presale was sold out in less than 5 minutes! fDAO is our governance token. in 2021 Q4, we will launch a governance platform where fDAO holders would be able to make some proposals and vote with their fDAO.

We will give more details in the future. The presale was only for Flame LP providers for the first 24h. It was sold out after 23h. The presale price was 1fDAO = 25K Flame.

Why Tezos?

We decide to build on Tezos because the technology behind Tezos is really impressive. We think Tezos do it in the right way: Tech first, then marketing. Roman and some team members are ICO holders. We really think that XTZ price will rise in the next months / years.

Tezos is also extremely eco-friendly and has low fees. This is a real advantage against Ethereum, but also the BSC. We are really impressed with the way Tezos evolving. All the upgrades have been so smooth and well-executed.

This is also a very decentralized blockchain, with a strong community. And last but not least, the number of contract calls are rising and the DeFi is just starting. All those reasons convince us to build FlameDeFi on Tezos.

To create smart contracts, we use the Pascaligo language.

Wen Audit?

In the near future, we plan to pass a security audit of our smart contracts so that people are confident in the security of their funds locked on our farms.

We are talking with Nomadic lab at the moment. They will read our code and recommend us accompany for the audit.

As for anonymity, our team is not completely anonymous, it would be more correct to say that some of our team members are not public, but the founder is public.

We are really happy to be so early on Tezos DeFi, and we will do everything we can to help Tezos DeFi to rise!

If you want to follow FlameDeFi actuality, you can find us on:
Twitter: @FlameDeFi
Telegram: https://t.me/FLAMEtokenFarm
Spacefarm: https://flame.spacefarm.xyz/
HicetNunc: https://www.hicetnunc.xyz/tz/tz1YtUbTURpWeX1CzHFamxS7fGdaKwKKgMzq
Buy tokens:
FLAME: https://quipuswap.com Contract address: KT1Wa8yqRBpFCusJWgcQyjhRz7hUQAmFxW7j
fDAO: https://quipuswap.com Contract address: KT1KPoyzkj82Sbnafm6pfesZKEhyCpXwQfMc

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