Recapitulation of AUTARKY PROJECT AMA event held at AMA LOVERS CLUB.
Date: Saturday, 13th March, 2021
Time: 15:00 UTC
The AUTARKY PROJECT team was represented by @Tyler who judiciously shared with us detailed knowledge and information about AUTARKY PROJECT.
1st Segment: INTRODUCTION
Q1: Can you please introduce yourself and your background, also introduce the Team working on the AUTARKY project?
ANS: We are crypto enthusiast, with a DeFi spirit as our core values.
We saw the incredible rise of Ethereum and its mainnet, a blooming environment for trustless and decentralized protocols.
Unfortunately it's been a while since Ethereum users are "suffering" due to its limitations. We are talking about the absurd gas fees and transactions time, which sometimes take hours to complete.
That's where Binance Smart Chain came in. It was the new cool guy in the block(chain) with its quick transactions and most importantly negligible gas fees.
In january we saw the full potential of this network and its bright future, and we weren't wrong, BSC volume skyrocketed in a few weeks. Those were the reasons why we decided we were going to build our platform on bsc instead of somewhere else.
Our team is entirely located in Europe. And we are anonymous due to the regulatory nature of the protocol we're building which is leverage trading.
Q2: I guess we will get to learn about the protocol along the line?
ANS: Autarky is a simple, yet effective protocol that allows you to harness the full power of decentralized leverage trading.
With autarky you can earn up to 10x of your initial capital from your swaps. This is possible thanks to liquidity providers that are incentivized to stay on the platform and create (BNB)pools thanks to the high interest returns.
Autarky's competitive advantage is that we will deliver the product before anyone else on bsc. The problem that it solves is fulfilling the market demands to has been left ignored for a while.
Q3: Can you introduce the AUTARKY project, what critical problems does it solve that existing solutions are not solving and what's the competitve advantage?
ANS: Basically we want make leverage trading accessible and easy to use to all thanks to the low fees of the bsc network. We do this with the help of an AMM like PancakeSwap
we want to be the first to deliver a functioning product on bsc, and we are pretty confident we will deliver it:)
Q4: Can you briefly describe the Top milestones you have achieved and your target milestones with timelines, also share your roadmap?
ANS: -The core parts and final implementations of our protocol, including front-end interface are complete
-The SC are complete
-The presale will be on the 14th of March(less than 21hours left)
-The platform launch will be on the 31st of March
-We are expecting an initial audit report to be delivered before the launch of the platform
We have a year packed of announcements, releases, and listing on CEX-es. If you don't wanna miss out, join us on our tg group https://t.me/autarkyio.
Q5: Can you talk about your presale coming up tomorrow?
The presale will start on the 14th of March at 12:00 UTC and it will last 48 hours. We will provide the crowdsale contract on our tg group. You would be able to buy $TARK only with $BNB with any wallet that is connected to the bsc network, and receive the token instantly.
360,000 $TARK are on sale.
The presale price will be $5/TARK
$9/TARK Upon listing on PancakeSwap, which will be 48 hours after the conclusion of the presale.
Every unsold token will be burnt, thus increasing furthermore the value of $TARK.
No minimum contribution, though we have decided to cap each wallet up to 50$BNB to allow anyone to participate.
We are here for the long run, that's why we decided to implement many strategies to prevent the buyers from being hurt. For example, contrary to what you see in other projects, our airdrops distribution will be on the 20th of March, many days later after the presale and listing so that airdrop winners cannot dump their tokens on buyers.
In addition, all the buyer that will buy $TARK at the presale and will hold up until the launch of our platform on the 31st of March, will receive an extra 10% of $TARK of their initial amount bought. This is to reward our true supporters.
Q6: Can you give an overview of your Tokenomics, and the UTILITY of the AUTARKY token?
We created a simple chart that will explain better how our tokenomics work.
By holding $TARK the community will be able to decide interest rates, creation of new pools, introduction of new more volatile tokens, and much more.
2nd Segment: LIVE Questions
Q1: How many audits are you planning to do, and which companies will be involved? Have you seen any recent exploits, and has it changed any of the companies that were audited?
ANS: we are involved with an A-class cybersecurity company. We're working very close with them. We cannot disclose too much detailed info because of NDAs, but I can tell you there will be a preliminary audit.
before the launch of the platform
and a final one
after one month of running in a a real life enviroment with real life data.
Q2: Less than 48 hours to your Presale and we are all excited. Where do you intend to list after presale and at what price will TARK list? How do you intend to protect your platform from unforseen circumstances like hacking and theft?
ANS: $TARK will be listed on PancakeSwap at the price of $9. we are constantly running tests and checking any possible backdors to our code. We are implementing various strategies, especially to protect liquidity providers
one of these is a security fund that receives a 2.5% from every successful position closed on the platform.
So in the case of a black swan event, the lp have a safety net.
Q3: BSC is a trending now, i'm not surprised that $TARK choose BSC Network and list on Pancakeswap. So which partner will you expect to associate with to promote and list $TARK on other exchanges in the future?
ANS: We will start by listing on PancakeSwap. In the pt days we have received plenty of offers by mainstream CEX-es that we can't wait to disclose.
Q4: As you said on your website "earn up to 2-10x from your swap". Its really cool. So could you tell me how does it works ? And if i swap more amount the leverage will push more?
ANS: depending on the size of the pool, you will be able to go from 2x to a maximum of 10x of your initial capital. The protocol works in a way that the more there is demand for BNB in a pool, the higher will be the % to the liquidity providers, so this prevents the pools from not being able to fulfill the trading positions.
Thanks for this opportunity to show your audience our project. We hope to see you soon in our tg to answer more questions and to our presale tomorrow:)
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