Clock 24 AMA Transcript

” One of the first Asset Multiplication Protocols “

Stephanie (BSC.News)

Hello everyone and welcome to the AMA with Clock 24! Today we have @Moralescx24 joining us to talk about their exciting new project. Great to have you here 🙂

Morales

Hey thanks for inviting me here for such an amazing session 🙂

Stephanie (BSC.News)

Welcome!

Alright! Without further due, we will jump right into the questions. Sounds good with you?

Morales

Yeah lets kick start

Stephanie (BSC.News)

Great, so to kick things off, for those who may be unfamiliar…

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1.  Please introduce yourself and the team behind Clock 24.

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Morales

I’m Morales and I have a deep history in the DeFi ecosystem! Most of the team members are located in different areas. Some are located in Singapore, Vietnam, Malaysia, Philippine, and the Middle East.

Speaking about the headcount of our team we are 55 in total including the head of departments.

Stephanie (BSC.News)

Well awesome! Sounds like you guys have a great and huge team so let’s talk about the project itself

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2. What is Clock 24? What are you trying to accomplish with your platform?

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Morales

Clock24  is an asset multiplication platform based on sound economic principles. The $C24 token is designed to yield higher returns (APY) for its holders.

A prominent APY is a result of auto-staking high yield generation functionality that magnifies APY in sequential time period. Basically it rebases daily, 0.018% in every 10 minutes , 144 times in a day.

C24 rebase protocol is implemented on Binance smart chain because we want Clock 24 to be accessible to everyone, including small holders. You can visit our dApp and test it here app.cx24.io.

Stephanie (BSC.News)

Thank you for all that information! Let’s unpack a bit as there was a lot I wanted to touch on. So first let’s talk about your token

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3.  Can you tell us about the $C24 token?

a.  Utilities

b.  Tokenomics

c.  Where can users buy them?

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Morales

Yeah sure let me breakdown and explain it one by one.

1. Clock24 has following Utilities:

Staking – Easy and Safe

The C24 tokens always stay in your wallet; it doesn’t need to be put into the high risk staking contract. All you need to do is buy & hold it and automatically multiply rewards in your own wallet so there’s no need to learn about the stake/unstake mechanism and also avoid paying an additional tax fee on staking operations.

CX24.io insurance fund

The $C24 Insurance Fund, abbreviated CIF, is a separate wallet in C24’s CAP system. The CIF employs an algorithm that underpins the Rebase Rewards and is funded by a portion of the buy and sell trading fees accumulated in the CIF wallet. Simply put, the CIF parameter backs the staking rewards (rebase rewards) that are distributed every 10 minutes at a rate of 0.018 percent, ensuring a high and stable interest rate to $C24 token holders.

Reduction of risk associated with downside

Ensuring long term growth continuity by maintaining constant growth levels Ensuring price stability through rebase strategy

C24 Treasury

The Treasury is very important in the C24 CAP protocol. It performs three critical functions for the growth and long-term viability of CX24.io. The treasury serves as an additional source of funding for the CIF. This additional support could be useful if the $C24 token’s price falls dramatically. It contributes to the establishment of a floor price for the $C24 token.

The Burning Pit

The burning Pit consumes 1.0 percent of all $C24 traded. The more that is traded, the more that is added to the fire, causing the fire pit to grow in size, larger and larger through self-fulfilling Auto-Compounding, reducing the circulating supply and maintaining the C24 protocol stable.

Liquidity management

Liquidity can be thought of as a large pool of money that is split into half between $C24 and $BNB tokens. There is a conversion ratio that is set to the amount of $C24 that can be obtained through BNB, for example: 1 BNB equals 36.44 C24.

2. Tokenomics:

C24 buy and sell fees are an important component of the CAP. They provide capital for performing critical functions to the protocol.

In addition to that, selling bonds also costs token holders. It reduces the amount of APY that can be offered and eliminates the ability to offer a stable APY.

The amount of the fees (6% for buys and 8% for sells) allows Clock 24 to provide $C24 holders with the stable high yield of 12,846,15.72% annually.

Trading Fees Explained

Buy Trading Fees:

2.0% – LP 1.0% – CIF 2% – Treasury 1% – Burning Pit

Sell Trading Fees:

3% – LP 1% – CIF 3% – Treasury 1% – Burning Pit.

3. Where can users buy them?

Initially our liquidity is locked and token get listed on one of very common DEX Pancakeswap. But in coming days we have plan to list our token on multiple dex including ape/baby/bogged as well. Meanwhile team is working on CEX listing which is expected to be done in this month. They can trade C24 here:

Stephanie (BSC.News)

Okay nice! Thanks for that clarification. So let’s actually talk about your insurance fund because it is something that I found to be really interesting

Morales

Sure

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4. What is CX24.io insurance fund?

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Morales

As I already explain it. Some portion of trading fees are stored in the Clock24 Insurance Fund which helps sustain and back the staking rewards provided by the positive rebase.

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CX24.io insurance fund The $C24 Insurance Fund, abbreviated CIF, is a separate wallet in C24’s CAP system. The CIF employs an algorithm that underpins the Rebase Rewards and is funded by a portion of the buy and sell trading fees accumulated in the CIF wallet. Simply put, the CIF parameter backs the staking rewards (rebase rewards) that are distributed every 10 minutes at a rate of 0.018 percent, ensuring a high and stable interest rate to $C24 token holders. So in short our CIF funds will be used in future to mitigate uncertain loss for community interest.

CIF Address: 0x0827916234dd165eED8335BC9b5d72ed5fDeAa45

Stephanie (BSC.News)

Great!

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5. What is an EPOCH?

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Morales

Each Interest Clock is 10 minutes in length and is referred to as an EPOCH. There are 52,560 EPOCH’s in 1 year.

Where:

A = Total Accrued Amount (principal + interest)

P = Principal Amount

r = Rate of Interest per year in decimal; r = R/100

R = Rate of Interest per year as a percent; R = r * 100

t = Time Period involved in months or years

It should be noted that rate r and time t should be expressed in the same time units, such as months or years. Time conversions based on a 365-day year have 30.4167 days/month and 91.2501 days/quarter. There are 360 days in a year, with 30 days per month and 90 days per quarter.

Let me share and visualize to relate in a better way.

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Stephanie (BSC.News)

Awesome! Sometimes it’s better to see than tell.

Morales

Exactly

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6. Can you please explain the rebase function and the burning pit?

Morales

This is how rebase function works

Buy-Hold-Earn  By simply buying and holding $C24 token in your wallet, you earn rebase rewards as interest payments directly into your wallet. Your tokens will increase every 10 minutes. Using a Positive Rebase formula, Clock24 makes it possible for token distribution to be paid directly proportional to the epoch rebase rewards, worth 0.018% every 10 minute epoch period of the total amount of $C24 tokens held in your wallet. The rebase rewards are distributed on each EPOCH (10 minute rebase period) to all $C24 holders. The interest rebase rate then reduces after the first 12 months as already explained about Epoch functionality.

About burning:

The Burning Pit: The burning Pit consumes 1.0 percent of all $C24 traded. The more that is traded, the more that is added to the fire, causing the burning pit to grow in size, larger and larger through self-fulfilling Auto-Compounding framework, ultimately reducing the circulating supply and maintaining the C24 protocol stable.

Clock Burning Pit Wallet: 0x84d1409bccd06CCf310344470ECa6007531E36Bc

I would like to add one more thing every 48 hours we have burning event in which all tokens in FirePit wallet transfer to dead address yesterday we had our very first burning in which we burned $28k worth C24 tokens.

here is the transaction.

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7.     Please tell us about the benefits and advantages of using Clock 24.

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Morales

Interesting questions I would like to compare with C24 rivals for better understanding and more relatable.

The first protocol for comparison is Safuu, which uses is CAP protocol for auto-compounding model. Following factors draws a line between Cx24 and Safuu. Safuu offers a staking reward every 15 minutes, whereas Cx24 has reduced this time to reward distribution, every 10 minutes.

Safuu offers return 96 time a day, and Cx24 offers return 144 times a day, thus offering a drastically higher return rate than the former.

Safuu offers a fixed APY of 122,234%, while Cx24 offers a fixed APY of 12,846,15.72%

The second protocol is Titano. It’s comparison with Cx24 leads out following results: Titano offers a fixed APY of 102,483.52%, whereas Cx24 offers a fixed APY of 12,846,15.72%

Titano propose a daily rate on investment of 1.8666%. On the contrary, Cx24 offer a daily compounding of 144 times.

Hence, all of these aforementioned propositions supports Cx24 supremacy over its counter protocols.

Stephanie (BSC.News)

Brilliant, thank you! Lots to look forward to

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8. Is your platform audited or has another safeguard layer in security? How can you ensure users that your platform is safe to use?

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Morales

Although we have internal Q&A team who performed testing considering different aspects and mitigate serious risks which can harm or manipulate funds. Besides that Clock24 successfully passed solid proof audit before its launch. Here is audit report attached:

Based on community request we will also initiate Certik detailed audit to gain more community confidence.

Stephanie (BSC.News)

Perfect! Security is one of the most important aspects the users look at

Morales [Never DM First], [4/1/2022 9:44 PM]

Yeah specially when you are dealing with financial applications

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9. Where are you on your roadmap? What kind of features users can look forward to?

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Morales

Well you can find roadmap here:

Team is working day night and proposed more advance features which is additional perks for our community and will be added in our roadmap for e.g NFTs Lifetime reward and mobile application.

Stephanie (BSC.News)

Awesome! I can see how much this project means to you and your team

Morales

Thanks for positive words.

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

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Morales

Yes, we have very interesting news to release today, as our community was waiting for it since we are live after fairlaunch. Here is the thing.

Clock 24 introducing new concept in rebase ecosystem.

Life-time Reward Generation (Clock NFTs)

Let me explain bit:

The life-time yield generation is upheld by an innovative mechanism that redistributes the yield to sustain token growth. The growth of $C24 token is maintained at an increasing marginal utility rate through the use of deflationary mechanics, which decreases the token circulation periodically to maintain the token price.

In addition to the deflationary mechanism to uphold the token price, Clock 24’s life-time reward generation provides a constant sum of return continuously for unlimited time.

This lifelong reward generation can be accomplished by users by entering a NEON CLOCK, GOLD CLOCK, or SILVER CLOCK, at the protocol’s forum.

Let me share visualize to get idea how our very unique nature rebase supported NFTs gonna looks like.

For more detail our community can read about it in our official gitbook or medium articles linke below:

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here is Q/A about our interesting feature:

Clock 24 FAQ’s

Why different types of CLOCK how it works?

We have 3 different CLOCK categories Neon/Gold/Siler exclusively for C24 token holders. There is limit and number of C24 tokens required to create a clock once clock created you will get an NFTs with respect to clock that you have selected.

Is it possible to transfer a CLOCK ownership?

Yes, we have implemented tranfer sharing mechanism so once ownership change only new owner will get respective reward.

What happens to REBASE reward after create a CLOCK ?

That rebase reward will transfer to reward pool you will get reward according to clock which you have create.

When this platform will get live?

Well our DAPP is ready to go live though you can proper functionality of this portal mid of this month. dAPP

Stephanie (BSC.News)

It’s definitely some exciting stuff! Would you be able to provide us with social media links so that our community could follow?

Morales

Official Contract address: 0x950642c4c8f52ca8a7d4af62d5e040f33f07d700

Website

Twitter

Telegram

Reddit

Medium

Documentation

Github

Smart Contract

Youtube

Audit Report

Trade

Morales

Great! Make sure that you guys go and check out Clock 24! Their platform offers you exposure to the best projects on BSC all while rewarding you for using their innovative ecosystem!

Source : bsc.news