BSCNews hosts CrowFinance, an Evolution Yield Farming on Binance Smart Chain with daytime and nighttime burn mechanism system.
ggmatch – will never DM you first: Hello everybody
Crypto Shrimp (AMA Host): hi @ggmatch ! you are here already
ggmatch – will never DM you first: Yeah, thank you for hosting us today
Crypto Shrimp (AMA Host): its our pleasure as well, lets welcome Crow Finance Team to BSC News for an exciting round of AMA today room is now locked. Are you ready for the AMA sir?
ggmatch – will never DM you first: Sure
Q1 Shall we start off with an introduction of you and your teammates? How big is the team and what are your roles?
ggmatch – will never DM you first: Okay, so our team currently is composed by 6 members + CMs
@crowdemonlord he is our CEO/Founder and Solidity Dev. We are also looking for new talented people to join our Smart Contract development team and work on new features. @pumpkincrown, he’s also our co-founder, he works on the back-end and he coordinates the team efforts; 1 Front-end Developer the team has hired to re-design the website UI to improve it and make it easier to use. Me; I take care of our community with the help of our three other CMs and I work on building a network of partners around Crowfinance. I also partially take care of our PRs, as you see here. 1 marketing strategist we recently hired, to elaborate a comprehensive marketing strategy and help us on this side.1 Art Director for design, UI / UX, and brand image.That would be all 🙂 we’re still looking for more devs, especially for solidity and front-end
Crypto Shrimp (AMA Host): thats a good team with a specific role in the project we did have a question earlier, asking if the team members are anon?ggmatch – will never DM you first: Yes, the team is anon, but i as i like to say, the code is not 🙂
Crypto Shrimp (AMA Host): nicely said, talking about the project leads me to the next question
Q2 Let’s get an overview of Crow finance
ggmatch – will never DM you first: So, i won’t go too much in depth because i guess there will be other questions… Crow Finance is a yield farming optimizer (on BSC obviously). Our most immediate peculiarities are that we use a dual token system and we have a high burning applied to each transaction to keep the inflation in check, and the burn ratio changes: 3% get burning for each tx during daytime (6–18 GMT+0) and 1% during nighttime.
Crypto Shrimp (AMA Host): yes thats very peculiar indeed, is that the habit of a crow actually?
ggmatch – will never DM you first
Oh i see you paid attention to one of our previous AMAs I guess! Yes this mechanism also recalls our project’s name
Crypto Shrimp (AMA Host): yes definitely done some research on it.. thats a very interesting concept
ggmatch – will never DM you first: Crows also exist since 30 million years ago… let’s hope we get their longevity as well 😀
Crypto Shrimp (AMA Host): thats good enuf time to make crypto a legal tender after the paper dollar era! lets get to the next curiosity of mine
Q3 I read that Crow is a fork from fry, maybe you can let us know why the choice?
ggmatch – will never DM you first: Oh, this is quite simple, the team believed that Fry World’s limited inflationary model was a very good starting point, more suitable for our project than others, from which we could develop something more unique.
Crypto Shrimp (AMA Host): i see thats always what the developers find, a start point, and after that it will be a totally different development and most likely a much better project when it begins its journey
ggmatch – will never DM you first: Yeah, fry deflationary mechanisms were really something we were looking at for our launch
Q4 What are the tokenomics?
ggmatch – will never DM you first: Crow has no premint or presale. It was a fair launch. Crow supply is really small: only about 20.962 Crows will ever get minted and all Crows will be minted and distributed in one year (Jan 2022). In the farming first phase (the first 30 days), minting/rewards are reduced by 2% every day; in the second phase rewards are decreasing 15% every month. This is why the burning mechanism is so important. Currently 80% of the rewards per block go to our farmers, 20% to our holders, although this might slightly change in the near future.
Crypto Shrimp (AMA Host): this is great stuff, ever changing and most importantly adjusting to protect the investments of the community
Q5 On the topic of investment, I see there’s a lot of options on investing at crow finance, traditional LP, Staking, and vaults too. could you explain more on $crow staking and how $talon comes into the picture?
ggmatch – will never DM you first: Sure. Let me begin by saying that in a few days our farming/vault system will be completely revised with the launch of our new v2 vaults, so in a few days some of the things I could tell now about farming and vaults could start becoming obsolete already 😅 but the new yielding system is going to be much better. What we’re offering about crow staking (which isn’t changing) is two possibilities:
a) Staking CROW without any autocompound feature.
Here you stake CROW to earn more CROWs and you receive TALONS as well. You can then restake TALONS in talon pools to earn tokens from our partners or tokens allocated by the team to this use (while still gaining from staking Crow). Talons are pegged 1:1 to Crows and you get them as a sort of LP ticket when you stake Crow. It’s similar to the Cake/Syrup old scheme for the ones familiar with that.
b) Staking CROW in the single asset vault.
Here you get auto compound, but you do not get TALONS.
Crypto Shrimp (AMA Host): so the changes won’t be affecting these 2 staking options that are in place?
ggmatch – will never DM you first: Things won’t change much for the CROW holders who want to stake CROWs, they’re going to change mostly for the farmers
Crypto Shrimp (AMA Host): i see thats so exciting to see a big change in the project and im sure its for the better of all farmers too
Q6 How are the fees like from the consumer end? is there a fixed fee between all the strategies?
ggmatch – will never DM you first: The fees are different depending on the strategy. CROW-strategy vaults currently have 0,5% withdrawal fees, non-CROW-strategy vaults have 0,1%, our BUNNY vault has 0,05% withdrawal fees. About performance fees: YGWYS (you get what you see – those are already factored in the APY shown) we’re now transiting toward a fixed fee model for our performance fees (4.5%) but we still likely have different fees for withdrawals depending on the strategy.
Q7 You mentioned that ….“Currently 80% of the rewards per block go to our farmers, 20% to our holders “ …. What portion of the fees are being channelled to the project development? or the funds are from some other revenue source?
ggmatch – will never DM you first: So, about 20% of the collected fees (1% out of 4,5%) go towards development. 3% (two thirds of the fees) goes to buyback CROWs on the open market. 5% as reward for the harvest caller
Crypto Shrimp (AMA Host): that will give a good burn rate to keep the supply really low on $CROW
ggmatch – will never DM you first: Yes that’s our aim as well
Q8 Security aspect of the project is it taken care of ? we had a member asking about the certik audit that you had with 21 issues, could you explain how these are important and being taken care of?
ggmatch – will never DM you first: Yes, we take security very seriously, that’s why we have two audits (the last one is from Certik) and we partnered with Soteria Insurance to give our users the possibility to insure the funds they deposit on our platform.
Crypto Shrimp (AMA Host): so on top of the audit you have insurance as well, thats really taking security to another level. so i assume the issues of the report are resolved?
ggmatch – will never DM you first: There are still some info issues underlined by Certik pending, but those aren’t security issues and are more about documentation and optimization of the code (like dead ends..). The devs have been focused on our close launch, but i think they’ll be able to tie those other issues as well and we’ll probably ask for an update of the report after that.]
Crypto Shrimp (AMA Host): thats great! cause from what i read its not a serious issue too, just wanted you to clear the misunderstanding that happened previously
ggmatch – will never DM you first: Sure, i’m glad i could help
Q9 will there be new collaboration? because from the website, it seems that BHC and soak pool are over.
ggmatch – will never DM you first: Yes. You’re right, our talon pools are over for the moment, and i’m personally working with new potential partners for new ones. That said, I’ve also recognized that the team’s focus lately has been on the revamp of our vault system and i’ve personally worked more on strategic partnerships than on purely financial ones. We’ve still a handful of projects under vetting for partnerships for talon pools and we’re always working to find new ones, lucky the BSC landscape is currently thriving with possibilities.
Crypto Shrimp (AMA Host): Growing together in this BSC network will definitely make up for the places that we are lacking. This is just my point of view; rather than focusing on outdoing competitors, we should focus on growing our own project to make it as perfect as possible!
ggmatch – will never DM you first: Yes that’s true. From an underdog perspective you sometimes focus too much on competitors, but building a solid network of partners is always the right way.
Q10 What is the ongoing development? We touched on the v2 and also the collaboration you did mentioned you are still looking for more ppl to join in, how is that area so far?
ggmatch – will never DM you first: Ok, so our main focus as you said are our v2 vaults. Let me bring some (alpha) preview..
This is what one of those will look like using our last bunny vault as an example. As you can see, the APY (which was already higher than on bunny itself!) is even higher than before. However, when i talk about v2 vaults, i’m actually talking about a complete revamp of our farming system. This will include the complete modification of our crow-strategy farms/vaults to ensure that none/minimal selling pressure is produced from the vaults, the improval of our non-crow-strategy farms/vaults and for this we’re also working to cooperate with 1-2 major actors on the bsc. Our new farming/vault system is launching in a few days, so that has been the main focus along with more original vaults. On the side, we’re also working on the new website, writing comprehensive docs for our platform and marketing.
Crypto Shrimp (AMA Host): thats alot of work to be put in for the coming days !
Q11 could you share what are the future development/roadmap with us?
ggmatch – will never DM you first: After the vaults v2 launch will be complete the focus will be switched on our others roadmap targets.
These are:
– NFTs powered farming
– a Decentralized system of governance for CROW holders
Along the way we’ll keep launching new vaults.
Crypto Shrimp (AMA Host): wow use case of NFT will be nice, brings on the feeling of gamification too
ggmatch – will never DM you first: Yes some gamification will be involved as well 🙂
Q12 share with us all the links/tg/medium for the readers to find out more and also follow the development of the project
ggmatch – will never DM you first: Sure, let me bring those up…
CrowFinance
CrowFinance an Evolution Yield Farming and Yield Optimizer on Binance Smart Chain
Telegram Group:
Telegram Announcement Channel:
Twitter:
Website:
Github:
Medium:
Crypto Shrimp (AMA Host): that brings us to our last favourite question in BSC News
Q13 Do you have any alpha or juicy news for us today in BSC news?
ggmatch – will never DM you first: Well, there might be something apart that pic i’ve shared before (none had seen how a v2 vault looked like before this AMA).
Between our new vaults, we’ll also implement single asset Venus vaults, because we recognize that many actually prefer staking assets instead of farming and the team believes that vaulting Venus single staking products is something fundamental for the public nowadays!
Crypto Shrimp (AMA Host): wow thats big piece of alpha 🙂
Crypto Shrimp (AMA Host): that will be all the questions I have for you today. I hope you enjoyed the AMA session with us today!
ggmatch – will never DM you first: Yes thank you @cryptoshrimp5 for your moderation 🙂
It has been a pleasure
Source : bsc.news
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