January 24, 2021
Guest: Mr Bit
On this interview, we are joined by Mt Bit, the co-founder at Feyorra and FaucetPay.
Feyorra is a Defi platform launched by the team behind FaucetPay and links the FEY token to their platform ecosystem.
The FEY token ecosystem rewards the users and customers of the FaucetPay platform, whilst also providing Defi features to FEY holders including staking, and mining. Lets speak with Mr Bit and find out more about Feyorra.
1. You are from the team at Feyorra, can you tell us about your role and how this came about?
I’m the Co-founder of Feyorra and Faucetpay. We at FaucetPay are connected with over 850 faucet websites and we help them to transfer payments without any fee.If you are in this community for some time you realize very quickly that the main part of faucet users are looking for a passive income but unfortunately in this space we are surrounded with scams. We have launch Feyorra to offer our users a reliable and easy way to access a application which rewards in a transparent way.
2. Tell us about Feyorra, what are you building and the features/services offered to users?
Feyorra’s his native feature is to stack FEY and get rewarded with a APY from 4.1%- 410%. Additionally, we are building centralized applications to make the staking easier and more user friendly. On FaucetPay, users can stake their FEY with other people and it does the Smart Contract transactions automatically.Feyorra offers you several discounts on FP and users can buy Reward Points to boost their account with bonuses on micro earnings offers.
3. Who would be the core user and how can someone sign up?
The main users are from our community. However, you don’t have to be a member of FaucetPay to join the Feyorra ecosystem, you can stake your FEY on our dapp on https://feyorra.com/stake.
4. What new things are coming up in the future?
We have many upcoming events. First of all, liquidity mining will start by the end of January and our next project which uses FEY as a utility, launches in 1-2 Months and covers the iGaming market.In the future we want to work on more products which will simplify FEY staking and make it easier accessible to more users.
5. Building a successful blockchain startup is tough, what challenges have you faced along the way?
We faced many challenges with FaucetPay. The most difficult challenge for us is to keep our service fee low with the rising network fees. Bitcoin and Ethereum give us the most trouble. Another big problem are bots which are trying to farm the faucets or trying to abuse diverse giveaways. However, it teaches us to keep a close eye to the statistics and we identify anomalies pretty fast.
6. On a more positive note, what is something that makes you proud when you think of the journey in building Feyorra?
It makes me proud to offer Feyorra to over 1 Million people on FaucetPay. Many of our users are from developing countries where the access to banks are difficult.Imagine how difficult it is to find a reliable service where you can get an interest paid on your deposits. Uniswap and other defi projects are not available for them because of the huge gas fee. It’s simply not affordable for many people.
7. This industry is often 24/7 and never stops. What does a typical working day/week look like for you?
Usually, I start my day with analysing the statistics of our projects from the previous day. I talk with my team about the progress, what needs to be done for the day. After that, typically I answer emails, go through my telegram and check if we have some pending inquiries. After I have some free time, I try to catch up with the latest crypto trends. Personally, I’ve been working in the industry since 2016 and love to be part of it. My life has pretty much changed since then and I couldn’t imagine one day without crypto.
8. Has your team grown since you launched and how many people are currently working on the project?
Me and my partner started FaucetPay in 2019 and now we are a team of 10 people: 2x Frontend developer, 1x Smart Contract developer ( part time), 1x Backend developer, 4x Community managers.
9. Finally, Where do you see the biggest opportunities for growth over the next two years in the blockchain industry?
DeFi will definitely play a big role in the upcoming years. Personally for me it opens new opportunities for everyone which the traditional fiat market only had for institutions. Nevertheless, the crypto industry is moving so rapidly that we could already see new trends in the next few years.
A big thank you to Mr Bit and the Feyorra team, if you wish to find out more information about Feyorra or get some free coins from their Faucet you can check out the links below:
This episode is brought to you in assistance with our sponsors Crypto.com and Crypto Jobs Daily.
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