Recapitulation of Biofarm AMA event held at AMA LOVERS CLUB
Venue: https://t.me/amaloversclub
Date: Monday, 4th January, 2021
Time: 12:00 UTC
The Biofarm team was represented by @SangHyunbio and @scientistbiofarm. They judiciously shared with us detailed knowledge and information about the project.
1st Segment: INTRODUCTION
Q1 : Can you please introduce yourself and your background, also introduce the Team working on Biofarm project
Ans : I am Sang the dev of Biofarm, and I am very glad to be here today
i have been engaged in the research of technology application
especially in the field of financial encryption, and have helped medical and financial institutions to protect the security of sensitive data many times
The team Behind this are
Park Yun(Ceo)
Sang( dev)
park ji (Adviser)
Q2 : Can you introduce the Biofarm project, what critical problems does it solve that existing solutions are not solving and what’s the competitive advantage
Ans : Bio is an upcoming multiple-protocol utility tools in the Defi space.
BIOLAB is a decentralised Lab running project built on the Ethereum Blockchain network.
BioFarm- Secure Various Types Of Vaccines
BioNFT - Users can buy sell NFTs
BioExchange - Multiple Integrated Dex all in one Place.
Q3 : Can you briefly describe the Top milestones you have achieved and your target milestones with timelines, also share your roadmap
Ans : This is a great question, Biofarm has face lot of constraints but we finally came out with our top milestone as to help the current economic situation
We currently have vaccine farm ready + collaboration with crypto Communities ( will be announced soon)
Upcoming - NFT platform, Marketplace, Exchange, Mobile which will be ready soon
2nd Segment: Twitter Questions
Q1 : Security is always a concern for users. Can you tell us about your security. I saw that you deployed the smart contract on December 2020. Has the smart contract been audited? How do you ensure the protection of our funds?
Ans : This is one of the best questions out there..
The smart contract is actually prepared for the public to do check and verify it user base
Anyone can Audit the smart contract as there were no minting of coin anymore....
Moreover, there are lot of Community members who has check and verify the contract
There are testimony from different dev...
Q2 : BIOFARM agriculture starts on the 16th of this month, for investors, why should we believe in your project? What economic and innovative benefits will your project offer me in the long term?
Ans : Firstly, we all know how popular farming is in 2020, many people have benefited from farming and it has helped in providing more liquidity to all token.
Biofarm is a project for the public which contain lot of Product such as, NFT, Farming, staking,Dex,mobile app(soon).
Biofarm is here for long term.
Farming our farming is 38.5% per block..
So this is a good benefit from all farmers
Q3 : BioLab platform allow members to stake on multiple pair on pools to earn BIO Vaccines. So what pair of cryptocurrencies available to staking on BioLab? Will you add more pairs to meet the users demand?
Ans : If we see the economy situation in the long run, we can decide to add more pairs but for now the below are the available pairs.
The available pairs for now are
1 ETH/UNI
2 ETH/USDT
3 BIO/ETH
All farmers are also entitle to some huge benefits....
There will a reward for top 5 Farmers 😊
Q4 : According to your tokenomics, the total supply of BIO tokens is 1,111,000. Is this amount of tokens fixed or will it vary over time? Is your token inflationary or deflationary?
Ans : The Bio token total supply is fixed at 1,111,000 and it won’t vary In the long run...
Bio token is Inflationary.
There will be no Minted coin as our contract is been verified.
Q5 : I can see your codes at github. Do you really trust your project this much? Is it opensource and can everyone contribute to your code?
Ans : Like I said Earlier, Biofarm is here for long term, that is the main reason our code is open for the public to check and verify...
Biofarm code is an open source for everyone to contribute to it.
It should be noted that Biofarm token is for the community members, as team token will be locked.
Q6 : How people can started farming on biofarm? What are the requirements that must be completed to start farming/staking? Do we need to do KYC?
Ans : This is a good question that must be taken into consideration as many people do fall victims during farming...
It should be noted that farming Bio vaccine does not require Kyc.
Below are step to farm/stake Bio.
1/ Buy BIO during pre-sale
2/Add liquidity on the BIO / ETH pair
3/Stake your LP Token https://www.biolabs.app/
Q7 : When many Defi projects with (farming,staking..) are existing in the market,it can be saturated.What is the highlights in feature or mechanisms of Bio to attract user choose your products? What are incentives Bio bring to investors and your community?
I can see this there are lot of Crypto guru's in this Community...
This is another great question I would like to touch all areas where other defi project are weak..
I will explain Biofarm strength 💪
Many Defi projects are into staking and farming but Bio staking and farming is different with with a unique reward block of 38.5% 😊.
One of the weekness of other defi project is lack of Community consideration, most defi project ignore their investors right
There are many incentive our investor will benefit such As NFT and they can also stake NFT to earn big reward and many more incentive coming on in the long run.
Q8 : Where is Bio Farm road map now? Are all targets in accordance with the current road map? and what are the next steps that will be taken in the future?
Ans : The roadmap on https://www.biolabs.app/ is a summary of what we would love to achieve, in the future we also plan to lauch our own Mobile exchange app as this will make it easier for all traders to take quick decision on every transactions daily...
Many more products will be lauch as far as all Community is here to stay with Biofarm..
Togetherness we are stronger 💪
The next step will be a big massive move, as we all know how popular NFT will be In 2021, we will consider adding more value to all products.
Q9 : Currently attracting real users and mass Adoption is a problem for Blockchain projects. So how will Bio Farm solve this problem?
Ans : I’m pleased to be here 😊
Seeing all this great question is a challenge to me.
I would love to give a deep insight on this
This is one of the constraints affecting all Defi project but we
got solutions, Biofarm is currently working with different marketer around the globe and also there are lot of crypto influencer working underneath.
Currently we are working on more bigger partnership.
Q10 : Currently most investors only care about profits at the moment but ignore the long-term benefits. So can you give them some advice why they should buy and hold this token/coin in the long term?
Ans : This is a good question that must not be ignore, I can tell you that almost 89% of Defi project out there are ready to rug even with the public team...
If you check GitHub, you will find out our code is public and beside, our presale price is lower from other project 1 ETH because we want it to be affordable, we are 100% here for long term..
You can check all our available product such as the NFT, Farming and dex.
CONCLUSION
But before we wrap up the AMA, what final words do you have for the community? And kindly share all the important links to Biofarm, and how we can participate in the presale.
Ans : To participate in the pre-sale you just need to send Minimum of 1 ETH to the pre-sale contract Which will be available during pre-sale.
Maximum is 5 ETH.
Below are the resources link
- Staking & Farm - biofarm.app
- - NFT & Exchange - biolabs.app
- Telegram: https://t.me/biofarmapp
- - Twitter: https://twitter.com/biofarm_
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