RECAP AMA IDCRYPTO X XBase Finance
Speaker: XBase Team
Date: Dec, 23th 2020
THERE IS 3 SESSION FOR AMA
1. INTRODUCTION
2. FORWARD BEST QUESTION TWITTER
3. FREE ASKING
________________________________________
SESSION 1 INTRODUCTION
IDCRYPTO:
Can you please introduce yourself and your background to us first? @MrBigChekhov
Chekhov:
I would like to start with some simple background of XBase
First of all, XBASE is a synthetic asset, XBASE target price is the entire crypto market cap, the ratio between XBASE and crypto market cap is 1:1 trillion
We think if we bring this factor into XBase, the algorithm will make the project much more interesting
Cause is very hard to predicted the trend of one token, but when it comes to entire crypto market, it will be a lot easier, that is why we select market cap to be our target price
I personally love crypto a lot, I know there is something huge for it. We believe next year will be the out break for entire crypto market, so is XBASE.
If you have the same thought about crypto, then you have to join XBase community.
Our team is a highly professional team have members from all over the world, we have members from Google, Uber and other big internet company.
We have years experience in crypto, and join DeFi for six month.
But we have to remain anonymous at the moment, but when the project is shine to the world, we will public our identity.
So we are hoping that day will comes sooner😁
IDCRYPTO:
Next, what is the best achievement that Xbase has got so far?
Chekhov:
Well, XBase start with nothing, start with no one. So I think our biggest achievement is that we prove to everyone that XBase is something you can't miss.
We have many community members to back us up and help us, we have investor believe in us. That is the step to something huge in the future.
Second biggest is our liquidity mining pools, as you can see, you can not only use pair, but token to mining XBASE as well!
There is new pools add in XBase liquidity mining everyday, before AMA, there is 2 new pools been select through community vote, which is UNI and BAC. If you are the holder of those two token, don't miss it😘
The third biggest thing is that we are a democratic community, every decision that been made has to be approved by whole community.
for example, the new mining pools everyday. And which pools to be removed.
XBase aim to be big and long-term, So the community goverence and democracy is the key.
SESSION 2 FORWARD BEST QUESTION FROM TWITTER
IDCRYPTO:
Q1 From @Sasuke_Kun19
Could you tell us about your plans for 2021 and future projects? What is your current focus on developing your project and in what ways are you developing it?
Chekhov:
If you been following XBase, you will notice that we have been try really hard to get in touch with more community, get more publicity.
We are trying to get more liquidity into XBase liquidity pool, after all the liquidity is the symbol of life for a token.
In this year we try to make XBase liquidity 8 times bigger. In next year we will listed on CEX, and the liquidity will expected to be 50 times bigger than now.
At the moment we are add in more mining pools into XBase liquidity mining pool, try to get more people join XBase liquidity mining, which new pool speficly will be decided through community vote.
Before AMA started, our community just decided to add BAC and UNI as XBASE new mining pools. If you just happen to hold BAC and UNI, then come and join us! XBase is the perfect place for you!
There will be more mining pools in the future. Join XBase community and your will be the one making decision about our future.
Also we are focus on promote XBase to more community with AMA and twitter at the mean time.
We hope there will be more participant to expand our community. Our community will be 10 times bigger until the end of next month.
IDCRYPTO:
Q2 From @pertamw
Can you explain in more detail the difference between Expansion Rebase and Contraction Rebase?
Chekhov:
Well, if you are familiar with AMPL, they you won’t be a stranger to rebase.
XBase rebase is just like AMPL, but a bit different.
AMPL target price is 1 USD, a constant number that will never change.
XBase on the other hand, target price is the crypto market cap divide 1 trillion times, the number that changes all the time. This action will bring a lot more fun into XBase.
If the XBase price is above the target price, then that is the time for expansion rebase occur. The contract will give each holder more XBASE token in proportion, encourage them to sell it for profit.
If the XBase price is under the target price, There will be contraction rebase, the contract will take token from each holder’s wallet in proportion, encourage them to buy more tokens at low price, sell the tokens for profit when the price is high.
If you ask me, I say the rebase is awesome. Cause in order to make an rebase project alive, it will require whole community consensus, in XBase, no one is individual
IDCRYPTO:
Q3 From @IndahDungprett
Xbase Target price = Crypto Market Cap x 0.1 ^ 12, My question is how can you set the token price according to the formula calculation? Do you have full control over the tokens that are already circulating and marketed?
Chekhov:
The XBASE target price will be control through rebase Mechanism.
The formula is written in XBase contract, and we upload our source code on Github, if you are curious about how the contract work, you are most welcome to check our source code.
If the token is already on the market then there is nothing we can do to control it.
The only thing can effect the token is rebase. And rebase is controlled by market behavior, so in conclusion, we can’t control the tokens that are already circulating in the market, only the market participant and holders can control the token.
IDCRYPTO:
Q4 From @yensantosdrena
XBase chose to lock liquidity at uniswap. Is your vision more concerned with security than token prices? Will I see XBase listed on some of the major markets in the near future?
Chekhov:
Yes, XBase is the long-term project that you can trust. As the matter of fact, we take the price and security as our priority at the same time. We think that is the key to became a long-term project.
We have another excited news for you guys about our future market. XBase will listed on CEX next month!
After that there will be a much bigger and stronger XBase community. We are currently negotiate with some CEX such as Bithumb and GATE.
That is why we are so excited to see XBase community became bigger than ever💪🏻
IDCRYPTO:
Q5 From @Ressknight12
why are there no pre-sales for XBase tokens? So how do you meet all the features and needs of the XBase financial ecosystem?
Chekhov:
We believe if a project want to became something huge, it has to start with fairness. So we decided to having a project without pre-sale,pre-mining and team funds.
Our team income will be from liquidity mining pool, if user collect their mint, geyser will produce extra 5% XBASE token to reward the team.
We have confident in our tokenomic, cause we have some improvement on our contarct
If a user entry the liquidity mining pools, contract will take 10% lp, this 10% will not going to anyone's wallet, it will be used to buy back and burnt
We believe this machanism will greatly benefit the whole community. Cause positive rebase is what keep a rebase community alive.
And contract buy back and burn can make pisitive rebase happen, this action will benifit the whole community, even you.
We have confident in this system, we know there will be more people join due to that.
IDCRYPTO:
If Xbase does not have pre-sale tokens, where can we buy Xbase tokens? you can give the url and detail in here😁
Chekhov:
You can purchase XBase on Uniswap or through liqudity mining pool
SESSSION 3 FREE ASKING
@Hirew:
I wanted to ask about the staking geyser mechanism, you said The longer they stake, the bigger reward they
shall get, how do I calculate the profit that will be received?
Chekhov:
As you can see through our website
The higher APY, the higher reward you shall get. Reminder, new pools always has the highest APY, the new pools will be add right after AMA, hope you don’t miss it
@Fumun:
⭐⭐What's the uniqueness of your project that can not be found in other project that's been released so far? And how the demand of the token will increase in the future? or what steps would you take to
increase the demand?⭐
Chekhov:
The contract buy back and burn is where we shine. The contract will take 10% lp once user entry the mining pool, this 10% will be used to buuy back and burn the XBASE token. This action will pump up the token price. As long as the token price stay above the target price, positive rebase will be great news for all community members
@Sidart1:
Can you give us 1-3 killer features about your project to convince me and other big investors to invest in $your project for the Long-term?
Chekhov:
Fairness, there is no presale, no premining, no team reservation.
Democracy, every decision will be made through community vote.
Promising future, there will be more people join XBase once we listed on CES.
@Andi_syahteguh:
XBASE is a token inspired by BASE and AMPL, my question is What are the XBASE mechanisms? Can you explain the XBASE mechanism? And how many XBASE tokens are used for XBASE allocation?
@MrBigChekhov
Chekhov:
XBASE rebase every 24 hours, aim price is the entire crypto market price. We use 500K token to add intial liquidity, and there is 6 millions in the mining pool wait for you to mint☺️
@hnata40:
As we know, every successful project has some behind-the-scenes stories, what's the behind the success of your Project? Are there any special updates coming up of your project that you would like to show / share with us?
Chekhov:
Yes there is a lot good story, but due to time limit I can't share them all with you. So let's just say that we have deep history in DeFi and blockchain. We believe in blockchain, so we will present more perfect project to the world, and let the world remember our name.
That will be all, this is great🥳Much awesome than I expected.
Thank you all for following XBASE
IDCRYPTO:
Thank you everyone, I will announce the winner later,
let's buy Xbase tokens to get benefits later🤑🤑
Chekhov:
Yes, there will be UNI,UNI-ETH,BAC,BAC-DAI mining pools add on liquidity mining pools right after AMA! the new pools always have the highest APY, now is the best time to join!
IDCRYPTO:
Well...
We declare AMA's Series IDCrypto with Xbase Finance is Done. 🥳🥳🥳🥳
Thanks to Chekhov
who gave us the time to share this knowledge, I hope we will understand more about Xbase Finance
Thank you to the participants who have attended this event to the end.
the winners will be announced soon🥳🥳🥳
MORE INFO ABOUT XBase Finance
Website
Telegram
Twitter
Medium
Github
Whitepaper
