BSCDaily.com hosts Crudeoil Finance: Next-generation decentralized yield aggregator/optimizer built on #BSC for the DEFI economy.ADVERTISEMENT
BSCdaily – Admin: Hello and welcome, @crudeoileng How are you today?
Petro Engineer: Hey Hey! It’s really nice to be here. Quite a community. very active.
BSCdaily – Admin: Ready to start our AMA?
Petro Engineer: Oh yeah! Bring it on!
BSCdaily – Admin: Great
Q1: Welcome to BSC Daily Community. Could you please introduce yourself and tell us more about Crudeoil Finance?
Petro Engineer: Of course! My name is Petro Engineer and I am here with our CEO Pyro. We are two of the cofounders of Crudeoil Finance. We have a team of like-minded individuals who thought of introducing a unique crypto philosophy to the community and started working on Crudeoil.
Most of us have a long history in Crypto and I myself have been in the crypto field since 2013 and others also have many years of combined experience in the crypto industry.
In a nutshell, Crudeoil Finance is a Next-generation decentralized yield aggregator/optimizer built on #BSC for the DEFI economy.
$CRUDE is designed to ensure the best returns for the users where the rewards are offered for each smart vault. Smart vaults ensure a higher cumulative APY as the manual intervention from the user is no longer required to manage his assets to optimize yields. $CRUDE will be the native governance token where users can directly take part in the decision-making process by holding $CRUDE and taking part in the governance mechanisms.
Furthermore, a portion of the platform fee will be distributed among the $CRUDE stakers in our platform which will be an additional reward. A portion of the platform fee is directed towards buying back $CRUDE from the market. These bought-back tokens are burned forever which will result in the reduction of the total supply over time, making it a scarce asset. This process will continue till the total supply becomes 5000 $CRUDE.
BSCdaily – Admin: Sounds interesting ^^
Q2: When did you start to develop your project? What are the main obstacles you wanted to overcome?
Petro Engineer: We were talking about the concept for a long time but we started developing since late last year. First, we launched two tokens called $OIL and $DIESEL. Now we are merging them together to give birth to $CRUDE.
$CRUDE will be the native governance token where users can directly take part in the decision-making process by holding $CRUDE and staking to take part in the governance mechanisms.
At the inception, there is no token sale or pre-mine. Instead, the $OIL and $DIESEL holders will be compensated for holding those tokens. A similar percentage will be vested and reserved for marketing and exchange listing activities. The entire balance will be reserved for staking rewards.
After conducting an awareness, we have recently concluded the event where we took a snapshot of the $OIL and $DIESEL holdings from our users’ wallets. They will be able to swap their $OIL and $DIESEL to receive $CRUDE later this week. 4CRUDE is already launched on @Pancakeswap on 21st July.
BSCdaily – Admin: Thank you so much for your clear answer
Q3: Also we would like to know more about your project. What are the highlights of your project and products that you believe will help you succeed?
Petro Engineer: Very good question.
After the launch of $OIL and $DIESEL, we received much love and demand for the tokens that we wanted to release a novel product. Hearing the feedback from our community, we saw the massive potential for yield optimizers that actually work. We first studied our competitors that were present at that time and noticed certain lack of functionalities which we felt we could address well. As a result, we brainstormed and developed a blueprint. The more we got involved, the more we saw the massive benefits and the potential of a proper yield optimizer in automating farming/staking allocations while maximizing the returns.
What we at CrudeOil finance has developed is a powerful tool, a protocol created to maximize profit by shifting the invested capital around to different pools, where the APY percentages and the expected profit is higher. By utilizing the power of smart contracts, we eliminate the need for manual research and allow users to earn a bigger income by optimizing the yields.
Here is a sneak peek of our product.
BSCdaily – Admin: Great
Q4: So, talking about your token $CRUDE. Can you share with us your tokenomics? And what are some of the $CRUDE use cases?
Petro Engineer: Yes. Let me share a graphic
At this point, our focus is on the swap and the release of the product this week. After this, we aim to add more vaults and special dual yield vaults as well. Plus, there are some novel products that are kept a secret at the moment until the launch.
BSCdaily – Admin: I can’t wait to see it
Q5: So, how will you persuade users to come into the crypto space and invest in $CRUDE?
Petro Engineer: Another good one
So, adoption is the key. We believe DeFi will be key in order to improve blockchain adoption. Plus we believe automated yield management tools are going to play a vital role in this.
What we at CrudeOil finance has developed is a powerful tool, a protocol created to maximize profit by shifting the invested capital around to different pools, where the APY percentages and the expected profit is higher. By utilizing the power of smart contracts, we eliminate the need for manual research and allow users to earn a bigger income by optimizing the yields.
Security is one of our key focus areas. If people are to trust our platform, we understand our platform has to be secure. For this reason, we have conducted a series of blackbox and whitebox testing internally before the launch of the product. After this, we conducted a community hackathon where we selected a group of experienced testers from the community and conducted a Beta testing cycle.
Subsequently, we hired not one, not two but three external auditors to audit the code. They are being RD Auditors, Tech Rate and Certik. All these are giants in the industry of smart contract auditing in its strength to give you the confidence of our deliverable.
The results proved to be amazing. Please have a look for yourselves.
BSCdaily – Admin: How interesting
Q6: Can you talk about your important partners? And any new cooperation we can expect?
Petro Engineer: Yes. So, as I said, our audit partners RD Auditors, Tech Rate and Certik come to the fore.
Our community is our priority. Since the inception, we have launched several marketing campaigns that raised the engagement and interaction. We are blessed to have many of #BSC OGs like BSCPleb, ChonkGangsta, Kdot, Axel are supporting us. We also have many local communities and partnerships with communities such as BSCDaily helping us in the process. We are seeing genuine growth in the community without any fake traffic or bots.
Q7: And. what is your plan for the future? Can you talk about your roadmap & targets for this year?
Petro Engineer: So, as of now The front-end part and backend development of the process is now completed, include a complete revamp of the UI/UX development. We are in fact ahead of our original roadmap.
Plus we aim to add more vaults and special dual yield vaults as well.
BSCdaily – Admin: Thank you so much for your information
Q8: Last but not least, where can we find out more about Crudeoil Finance?
Petro Engineer: All details about $CRUDE could be found below.
Website: crudeoil.finance
Email: [email protected]
Twitter: twitter.com/crudeoil_fi
Telegram Chat: t.me/crudeoilfinance
Telegram Channel: t.me/crudeoilfinance_ANN
BSCdaily – Admin: With this we are now at the end of our AMA session with Crudeoil Finance
Time for wrapping up, any last words you would like to say to our community? @crudeoileng
Petro Engineer: Yes. As it is such a lovely community, I must tell you guys that we have also been organising several community development campaigns such as AMAs, Quizzes, games and knowledge sharing sessions. We have a campaign even at this point and you are welcome to join us.
Telegram (t.me/crudeoilfinance_ANN/584)
BSCdaily – Admin: I’m sure we will
It was a pleasure having you guys @crudeoileng
Petro Engineer: It was lovely speaking to you guys too
BSCdaily – Admin: Thank you so much for spending time with our community & all the very best for Crudeoil Finance
Source : bscdaily
