Hello, dear Coin-er! Today we present to you BAMBOODEFI project. Our guest is Daniel Valdes Araiz - CEO of BambooDefi. The AMA will be happening as follows:
Segment 1: Warm-up questions - Daniel Valdés Araiz - CEO of BambooDefi will introduce little about BambooDefi as well as himseft.
Segment 2: The Q&A session: Answer question from Twitter (5 questions)
Segment 3: Live Q&A session.
👉Admin will unmute the chat so you can ask the questions.
👉Don't send more then 3-4 questions per round.
👉There are 2-3 rounds depending on time
Seg 1: Warmup question (Guest Introduction & Project Overview)
1. Can you introduce a little bit about yourself
Good afternoon and thank you very much for inviting us to perform this AMA. My name is Daniel Valdes Araiz, I am the CEO of BambooDeFi (www.bamboodefi.com) and Nexxyo Labs. (Nexxyolabs.com) a spanish software development company. I knew blockchain and cryptocurrency quite a few years ago, I think my first contact with BITCOIN was 9 years ago.
2. Can you briefly describe about BambooDefi?
BambooDefi was born because we see some problems or inefficiencies in the DeFi ecosystem... we aim to include some things of current protocols and improve them as well as adding security and usability improvements. Focusing on protocols such as Uniswap, Sushiswap or Compound we have developed a tool that improves them in several aspects (ease of use, security improvements in backend, front end and Smartcontracts) allowing us to implement widely known and tested functionalities and also adds security improvements and new protocols such as the quadruple reward system, the staking system with temporary blocking and the Raindrop and BBYP.
3. How is BambooDefi different to other competitors in market?
Behind the project stands a company registered in Spain, Nexxyo labs" is the trade name of the company APPDETRANSPORTE URBANO SL, B71379507, registered in the Commercial Register of Navarra, volume 1951, book 0, section 8, page NA 38827. We believe that it is very important to provide transparency and a known team behind the project to avoid possible scams and rugpulls.
Another point that differentiates us is the seriousness with which we take the launch, nothing will be available to the public until it is completely audited. We are currently auditing everything with Red4Sec.Aqui teneis una auditoria parcial. Cuando todos los SmartContract esten terminados de auditar y testear este documento sera sustituido por una Auditoria completa: https://bamboodefi.com/assets/Audit_en.pdf
Currently most of our SmartContracts are launched in KOVAN for testing purposes:
Bamboodefi also has a controlled emission system done by SC, from the 5th year only 1 bamboo per block is generated, together with the burning system, we hope to get a system that becomes deflationary.
And possibly the last point that differentiates us most is the ability to launch a credit card and the possibility of implementing the token in the ATMS created by Auroracryptomachines. www.auroracryptomachines.com
The aim is to make the platform profitable and sustainable in the long term.
4. What are the much-needed solutions BambooDefi brings to the industry?
The problem with DeFi is often the difficulty of transforming profits into FIAT's money (either because of the high costs associated with the operational aspect or because of the platform's own friction problems). At BambooDeFi we are working on the implementation of a credit card with which all users will be able to buy using Bamboo anywhere that accepts card payments, and with the implementation of Bamboo in the Auroracryptomachines ATMs users will be able to transform Crypto to Fiat directly in the ATM. We are also negotiating the implementation of Bamboo in various wallets and POS terminals. Bamboo offers a lottery system managed ONCHAIN, allowing use to not depend on external "Oracles" that can be attacked. We hope that this lottery system will also overcome the blockchain and become an interesting event for any user. Also a problem is often bankability or obtaining credit, to solve this problem we are working on a P2P credit and escrow system in which the liquidity borrowers decide the collateral and the commission to be applied to each operation
Seg 2: Question from Form
Question 1: Defi is new trend of this year and I see many projects have success, get high ROI after launch. But Defi also have many problems that we have to solve. The main problem is keep the price of token is up because when farm, the supply of token is increase instantly, The people will sell it when they farmed it. Moreover, about LP is very important too. I know that BAMBOODEFI is Defi, so How do you plan do keep and increase token price also provide a good LP to user, to make investment trust in project and keep going with project in future?
We have implemented a staking system for both Lps and holders. All those who keep BAMBOO locked in the Smartcontract BambooField or BambooFarmer will receive cashback once the card is released as well as a 0,04% share of all fees obtained through the AMM. If we combine the Staking system with the implemented burning system and emission control system we expect BambooDeFi to become deflationary in the medium term. 10% of everything that accumulates in the BambooVault will be burned. To participate in the Bamboo Burn Yearly Party, it is also necessary to burn Bamboo and whether to add proposals or vote in the governance system it is also necessary to burn BAMBOO. As you can see in this link we are not very serious about burning tokens: https://bamboodefi.medium.com/bamboodefi-pre-sale-burn-7f3e30fd77da
Question 2: What is the release schedule of tokens? What jurisdictions are eligible to participate in the sale? Will the sale be fairly distributed over the different membership tier levels or can we expect higher tiers to have the option to invest more?
BambooDefi token release are scheduled for January 31st. In the presale that we already completed the restrictions are more severe because we have to comply with the rules of the CNMV. In the current sale in ChainX these conditions are less restrictive: https://chainx.kr/chainvest-detail/2377
The sale is divided into 3 phases, as the days passes the price will increase:
1ROUND: 2020–12–25 ~ 2021–01–05, 1BAMBOO=0.0009 ETH
2ROUND: 2021–01–06 ~ 2021–01–16, 1BAMBOO=0.0012 ETH
3ROUND: 2021–01–17 ~ 2021–01–30, 1BAMBOO=0.0015 ETH
The hardcap of each phase is proposed to reach the greatest number of users possible without affecting the good performance of the token. All unsold tokens during the IEO and Pre-sale, will be burned.
1ROUND: 1,666,666 BAMBOO TOKENS
2ROUND: 2,000,000 BAMBOO TOKENS
3ROUND: 2,500,000 BAMBOO TOKENS
Question 3: I heard Bamboo DeFi wants to pre-sell. Can you tell us about Bamboo DeFi Pre-Sales information? When will Bamboo DeFi pre-sale be launched? And what are the main advantages for Bamboo DeFi pre-sale investors?
The presale participants do not have a real advantage over the first buyers of the IEO, if we take into account the different phases. Here you can see the conditions of the Presale, as you can see a rigorous KYC and AML in addition to having to comply with some maximum and minimum purchases to be made by the buyers at the Presale: https://bamboodefi.medium.com/bamboodefi-pre-sale-info-c399c3e4cd7a
Question 4: The biggest #BamBoo of any project is its Community, No Project Can grow Without Community Support. How are you going to Build a #Bamboo Community? How will you gain Community trust?
We are working very hard to create and maintain communities of many different origins. They have their own, native-speaking administrators to facilitate communication in each BambooDeFi community. Recently we have hired a person in the team, with the task of monitoring the performance of the communities to try to make them as good as possible and assist the user at all costs.
Latino America: https://t.me/BambooDeFiLATAM
We have requests to create other communities and step by step we will be creating them.
Question 5: What is your background and how did you come to the idea to create your project? What is the business model of BambooDefi? How Bamboo project generates revenue for project development?
In 2017 I worked on several projects that did not reach the desired results, whereas the idea of a decentralized finance project grew stronger in my mind. Inspite of these projects that could not be launched, our ATMS, AuroraCryptoMachines were born. In 2018 I was the technological advisor of another blockchain project carried out for a private company and at the end of the project the idea of Bamboo was born, even though it still didn't have a name.We started to talk about it within the NexxyoLabs team and began to study protocols until we found several ideas on how to improve them and which new features we could be implemented. We also had contacts to launch a credit card and the possibility of implementing Bamboo in ATMs, we noticed that launching this product would really make sense.From where we will receive the benefit in BambooDefi is easy to answer. 0.04% of all commissions generated by trading through AMM goes to the BambooVault, 10% of the ten days lottery goes to BamboVault too. To avoid possible DUMPs on our part, all funds received daily are blocked for 30 days. This allows us to cover the costs of a project like BambooDeFi without compromising its stability.
Seg 3: Live question
Question 1: Many new projects are initially evaluated well for marketing but then abandoned. What do you think about this? How does BambooDefi have a long-term plan to bring its project and tokens to thrive in this market? How will your project be in the next few years?
It is a pity that projects are overrated just for marketing purposes and then abandoned. In our case the project is carried out by a company with employees and invoices to attend, we can assure you that the project will not be abandon and we will continue working on improving it.
Question 2: Projects that are not traded on major exchanges remain unnoticed. What do you think about listing the token on the leading exchanges?
You're right,tis essential to be in first level exchanges, but their cost is very high, first we will start with uniswap and chainX. We are currently negotiating with a higherlevel exchange with more users, but we cannot give details until the contract is signed.
Question 3: It's heard that the next phase of adoption of blockchain technology will come from Gaming, DeFi and NFT. What is your views on this and what will be your prime focus for mass adoption BambooDeFi?
Our project has two lotteries that work completely autonomously and ONCHAIN. We are also working on the implementation of NFTs related to gamification .... We hope that this will help to get more users interested in the project. You can see more on our WP: https://bamboodefi.com/assets/bamboo-whitepaper-en.pdf
Question 4: Presently as at today, can we possibly use your token in real life for payment?
Today it could not be used as payment in the "real world" because BAMBOO is not listed. Once listed it can be used with the credit card and in the Auroracryptomachines ATMs. We are also making agreements with wallet and POS payment systems, so that all users can pay with Bamboo wherever they want.
Question 5: Can you provide an overview of your tokenomics? Will the design of the token increase and decrease with the success of the platform, does it include any scarce pathways, such as equity, storage, or burning?
Regarding our TOKENOMICS it is worth mentioning that the development team does not keep any token from the project and all the tokens left from the Pre-sale and IEO will be burned. Regarding the money collected in pre-sale and IEO this is how we will distribute the money obtained so far.Estimation of the budget distribution:
The following information is an estimate of the budget distribution, which can vary considerably depending on multiple factors such as the amount collected, variable market conditions, etc.
Security audits 2%
Operating costs 25%.
Under "Development" concept are included the items for internal staff recruitment and the specific items for development. Operating expenses include all fixed and variable costs of the company, including the list om Exchanges, account audits, tax payments, etc.
In these amounts it is not contemplated the 20% that is destined to the repurchases and the other 20% that will be destined to provide liquidity to the first Pools
That's all. Thanks everyone to join with us.