Recapitulation of BODA TOKEN PROJECT AMA event held at AMA LOVERS CLUB.
Date: Saturday, 5th June, 2021
Time: 14:00 UTC
The BODA TOKEN PROJECT team was represented by @Billyboda who judiciously shared with us detailed knowledge and information about BODA TOKEN PROJECT.
1st Segment: INTRODUCTION
Q1: Can you please introduce yourself and your background, also introduce the team working on BODA?
ANS: Sure, I was able to prepare this earlier to save time :)
My name is Billy! I am the community Project Manager for BODA.
I am the only one from main team who will doxx themselves. Here are my main accounts -
I also have a crypto education page that I haven't posted on lately since working on BODA - https://www.instagram.com/knowyourcoinofficial/
I started my crypto journey in 2016. First investing in Bitcoin and quickly discovering the other altcoins on the market.
I am 34 years old. I have been a Bar Tender, Barista, Restaurant Manager, Infantry Soldier (Australian Army), Medical Clerk, Beauty & Skin Clinic Business Manager, YouTuber/Streamer, and now Crypto Token Project Manager.
High School Yr. 12
Cert III in Government
Diploma in Business
Cert IV in Training and Assessment
Cert IV in Massage Therapy
Advanced Diploma in Cosmetic Dermal Science
Future Goals -
Make a successful cryptocurrency token.
Go on a holiday around Europe and America, and pretty much the entire world.
We have 2 other members on our Project team who help with back-end project work. They are always helping me whenever they can.
Q2: Can you introduce BODA, what critical problems does it solve that existing solutions are not solving and what's the competitive advantage?
ANS: BODA token is designed to provide investors passive income simply by HODLING their tokens.
The anti-whale and anti-dump mechanics inside the BODA code help to prevent rug pulls and market manipulation that often cause investors to lose money.
BODA Token competitive advantages come from having someone like myself on the project team with over 5 years of experience in the crypto space, who has establish network connections with many other major large cap cryptocurrency organisations and developers. I am also a firm believer in "walk the walk, don't talk the talk" and so I will always show my worth in what I do, and not what I say.
Q3: Can you briefly describe the top milestones you have achieved and your target milestones with timelines, also share your roadmap?
ANS: We have achieved a few exciting milestones.
We created new logo for BODA, a new website for BODA, we updated our BSCSCAN information, we got listed on Blockfolio App and Livecoin Watch.
We got a promo video from David Koechner who is a famous movie star who has starred in many comedy films & tv shows such as Anchorman 1 & 2, The Goldbergs, Twin Peaks, Another Period, American Dad, F is for Family, & The Office.
We created a “BODA Squad” team made up of community members who are passionate about BODA token and want to do extra to help the community. One member has created his own Telegram channel for the Indonesia community, which is growing quite rapidly.
We just recently had a member from China join who is going to create a TG Group for Chinese BODA community members.
I have had TechRate Audit translated in over 9 different languages and currently having our Whitepaper translated in multiple languages too. BODA is an international token for everyone!
BODA has over 1400 token holders! Growing more and more each day.
Our future roadmap milestone is to get CoinGecko and Coinmarket website listing. We are just waiting for our application to be processed. Usually this takes about 2-4 weeks depending on how busy the support team is. I have already received an email from CoinGecko letting me know that their team has received our application.
Our Yield Farm and new “Tier 2 token” is the biggest goal to achieve this year. We should have this done by August.
Future NFT and Cross-chain DEX is our highly ambitious goal for 2022.
Q4: Can you briefly describe your PARTNERSHIPS so far?
ANS: We have partnered with BourbonDeFi so far, who have their own Yield Farm.
I am currently speaking with the dev team of a cryptocurrency token that started in 2014. They just recently started to wrap their native token on BSC Network and are looking at Yield Farm partnerships. This would be extremely good for BODA Token as it would expose our token to a very large mainstream audience of cryptocurrency investors who have been investing since 2014.
Q5: Can you give an overview of your Tokenomics, and the UTILITY of the $BODA Token?
ANS: Ok. This is going to be a bit of long read. But I like to explain things as much as possible when it comes to the technical side of things.
BODA is a community-driven DeFi (Decentralized Finance) token built on the BSC (Binance Smart Chain) Network. Our original dev created it by forking the Safemoon token code. The deflationary token mechanics in BODA are similar to that within Safemoon code, however the percentage rate of the taxes have been altered.
7% is locked in Liquidity from every sales and transaction, where 3.5% is locked forever meaning that circulation supply of BODA is reduced permanently.
3% tax is evenly distributed to all holders. This gives good incentive to HODL your BODA tokens for the long term.
There is a 3% cap of total supply per buy and sell order. This is to stop people from dumping and to stop being from trying to become a whale. Whales are bad for crypto tokens as it means that 1 person can control the entire market and manipulate prices. Dumping is bad for market because 1 person could ruin the entire token and do what is called a Rug Pull.
This cap essentially means that you can only buy 3% or sell 3% of total supply volume in one single order. So, if there are only 720 Trillion tokens in supply, then you can only execute a single order to the value of 3% out of 720 Trillion supply.
BODA token holders are very evenly spread. The highest token holder only owns 2% of total supply. Everyone else owns 1% or less. The evenly distributed 3% reflect tax also helps to even out the spread of token holder volumes to ensure that everyone gets a fair share of BODA.
BODA is designed as a long term HODL token. There is a disincentive for people who try to pump and dump BODA Tokens because every time someone sells, they are helping to redistribute tokens to existing holders AND they also help to contribute to the reduction of overall supply. So those who HODL for long term are going to gain more than those who just try to pump and dump our token.
BODA token is a 100% decentralized and community project. The original dev burned his keys on launch and locked the BODA smart contract forever. The original Dev has also sold his own share of BODA Tokens. There is no way to edit the existing smart contract in anyway, meaning that no new tokens can be minted or stolen.
Having a locked token contract is great for safety and security, but it does provide some challenges for how we proceed with making improvements for the token. This is where I have come up with a plan to introduce a brand new token, codenamed “tier2 token”. The official name of the token is being kept secret as it is a token name that has not been used and I do not want anyone to steal the name before we launch the new token.
The “Tier2 Token” is a vital step in allowing BODA Token to progress. “Tier2 Token” will be part of the Yield Farm that is expected to be completed by August 2021. Manual burning of BODA Tokens will be assisted by the Yield Farm, as well a lottery creation similar to that of Pancakeswap where BODA Tokens will be burned per ticket sales.
BODA holders will be able to earn this new “tier2” token for free simply by staking BODA. This new “tier2” token will be a custom built token with the ability to earn BNB and BUSD as passive income.
A custom wallet app will also be designed for the “tier2” token which will include the ability to store BODA tokens.
2nd Segment: LIVE Questions
Q1: I read that there was no presale for Boda token and infact teams had to buy tokens with their funds i.e no team allocations.
Given this facts, how was the team able to develop the project before launch and how liquidity fund was raised?
ANS: I believe that the original Dev put in about 4,000-5,000 USD in the LP on launch. I do not know much else in specifics since the Dev left the project as soon as it launched as it was designed to be a community driven project from day one.
The Dev did have his initial 1.5% of total supply from launching the contract, but he sold that very early on too for only about $600 USD worth of BNB.
I have personally put in $15,000 USD worth of my own money to help fund BODA with the new logos, website, and marketing. I have additional funds set aside for the new "tier2 token" project.
That's how much I personally believe in BODA and where we can take it.
Q2: It was stated BODA has Bold long-term development plan, an Original Yield Farm Protocol,
my question please can you give more details about Yield Farm Protocol?
ANS: The Bold-Long Term plan is, for now, the Yield Farm, NFT Platform and Cross-chain DEX.
I cannot give away too much information on other plans as the crypto space is very competition and I would not want anyone to "steal" ideas and ruin the potential for BODA and the new token to have success.
Q3: I much agree with what was written on your whitepaper that "only those who understands the original philosophy of Bitcoin will truly see how Boda token aligns with that", which is why I'm strongly optimistic that Boda token will appreciate will value over time. However, I'm sure you know that you can do this alone, you would need people and investors to support you, so how do you intend to go about that? How will you onboard more people to Boda token for long-term?
ANS: We focus on community. Every crypto out there relies heavily on community support. Even Bitcoin itself only exists today because of the community. There is no single owner, no company, no organisation that run Bitcoin. Bitcoin is made for the people, by the people.
In this philosophy, it is crucial that the community are involved and helping to push and promote BODA just as much as we are as team members.
With only 3 people promoting BODA we won't get far, but with 1400+ people promoting BODA, we could get even further. And the more we grow, the more people we have in the community, and the more voices we will have shouting out BODA across internet!
Q4: with the growing number of DeFi project in the market, the competition is becoming fierce. what unique features dose Bodatoken have to attract investors to your platform?
ANS: BODA Token will be utilized to earn the brand new “tier2 token”, which will have unique mechanics that have not yet be seen before in the DeFi space. I can only reveal one feature of the new token at the moment as that is that you will be able to earn a passive income of BNB or BUSD with the new token.
Q5: What do you imply by renounced ownership of BODA token. I read that Boda did not conduct any presale ? Why was this decision taken and how would money be raised to finance projects to be Carried out on the Boda ecosystem ?
ANS: The renounced ownership is a term used to mean the dev has locked the contract and burnt his access keys.
The dev funded the token himself.
A pre-sale does not always have to be conducted for a token project to run. In fact, a pre-sale is often bad for every day investors as it only benefits those who got access to the pre-sale as a super low price, whereas everyone else who buys on launch day gets stuck with the starting price.
A fair launch is always better as everyone gets to buy it at the exact same time, so it is made as fair as possible.
Q6: From the "Special Announcement from Champ Kind", he said that BODA is a new token from the future and that we will be glad we got in so soon when BODA moons. What plans are laid down for users who acquire BODA tokens early? And what game changing elements will BODA token bring to the DeFi sector?
ANS: Getting BODA right now and HODLING until the new Yield Farm is where people will benefit.
You will be able to use your BODA to stake and earn the new "tier2 token" basically for Free.
If you buy BODA now you get more BODA for BNB based on the current MC. When the more people buy, the MC will go up, and then you'll end up getting less and less BODA for your BNB. So that's a good incentive if any for people to buy BODA now while we're still at a very low MC.
Q7: Reading about the project on its website, I could see that the project has some very interesting characteristics. Can you give details of the blocked liquidity fund, the mechanism against whales and the continuous reduction in supply? And how do all these characteristics make the BODA Token project special and different in the DeFi world?
ANS: I believe I have covered this in the super long tokenomics details in the intro questions :) haha.
Q8: The rate at which whales manipulate the market has become increasingly alarming and usually is unfavorable to other investors. In view of this, I would consider the most amazing feature of the BODA Token to be the anti-whale mechanism. So, how exactly does this mechanism work to prevent whales?
ANS: There is a max 3% buy or sell order cap of supply. Meaning that you can only buy or sell a maximum of 3% of the total circulating supply of BODA.
This works to prevent both whales and massive dumping.
Q9: please how many social media platforms are you on so far? seeing that social media marketing and presence is very important in the growth and development of any project. it will be great if you can drop all links to your social media?
ANS: We are currently on Twitter, Facebook, Instagram, Reddit, YouTube, Twitch, TikTok, LinkedIn, Telegram, & Discord.
All links are here - https://linktr.ee/bodatoken
Q10: Sir, Blockchain is growing rapidly and there are more and more hackers and phishing scams, what about the level of security applied to the #BODA platform?
ANS: BODA contract is locked, so no one can hack any of the dev wallets to manipulate the token.
Q11: What is the risk mitigation strategies adopted by Boda Token to reduce investors risk of loss and promote their investment confidence in the Boda Project ?
ANS: Risk migitation is mentioned in the intro quesitons. In particular the tokenomics work to help reduce the risk of whales and dumping.
There is also that disincentive for people to swing trade small amounts of profits. If you make 10% gains and sell, you actually make 0% gain because you get taxed 10%. And 3% of that tax is evenly split among all HODLers. And 7% is put back into LP.
So BODA is more beneficial for long term HODLers.
Q12: if you will be releasing a new token together with farming by August, why should I buy boda token now? is there any advantage? and what is your IP farming rate?
ANS: Buying BODA now as a where it is in terms of Marketcap would be ideal, but this is not financial advice. you should always only invest what you can already afford to lose.
The farming rates will not be calculated until the farm is built. Its a simple maths problem that requires playing on the binance testnet. Right now I have 3 devs working on the new teir2 token. We will be testing the token mechanics and yield on the binance test net thoroughly to ensure it doesn't break on launch. This is another reason why it's going to take about 2-3 months to build it as I want to ensure that rigorous testing is done.
Q13: You have been so many things from a Bar Tender to a token Project Manager, such a great fit and great amount of experience gathered, bif I may ask how have this experience helped you in the crypto world and also your project?
ANS: I care about people. Anyone who has worked in Hospitality industries (Bars and Restaurants) would know that the job requires you to care for others and do always please your customer. Its a selfless job where you always put others first.
Being the Aus Army taught me a lot of organisation skills and commitment to a cause. I am naturally not one to back down from a challenge and my time spent in the Army only strengthened that resolve and mental willpower.
Having managed a business, two in fact, with all female staff (me being the only male) in the beauty industry that is heavily dominated by females was extremely challenging. But I faced it full on and achieved many things, such as an Advanced Diploma in Cosmetic Dermal Science, while I was in the Beauty and Skin Industry.
I have always been able to adapt to new surroundings very quickly and easily. My brain runs at 120% speed when I am passionate about something. And crypto is my passion right now.
Q14: Nice project there, but when I checked on the supply distribution of the token launch why is it that the developers chart and the Marketing chart are of same percentage while there is a large margin btw the liquidity and the token burn, are you been bias???? https://twitter.com/amaloversnews/status/1399337811669655553?s=19
ANS: The dead burn wallet currently has 30% of the BODA Supply.
LP wallet currently holds 16% supply. This changes constantly.
Marketing Wallet only has about 1.58% of total supply at the moment. We always have a community vote to decide on how to spend the marketing funds to ensure that it all being spent fairly and honestly.
Q15: I learnd BODA TOKEN didn’t have any presale. So how you guies plan to raise the fund for further development of the project or list on any CEX? Cause Most CEXs require a listing fee. Is that mean there is no chance for BODA TOKEN in CEX listing?
ANS: A fundraiser will be required for our CEX listing.
I have a quote from Hotbit Exchange already for $25,000 USD listing fee plus $3k in BODA plus $3k IN USDT. So we would need about $28,000 USD all up. The $3k of BODA we could use from our marketing wallet.
Q16: While researching about BODA TOKEN i found it will soon have a very unique Yield Farm that will allow holders to earn a brand new token for staking BODA. Can you tell us more details about this. When it will be live and how this unique yield farm will be batter then the normal one?
ANS: new token and yield farm will both launch together. Should be done by August.
I cannot give too much detail as I don't want anyone else to steal ideas.
We have members who have experience in IT and are currently studying blockchain.
Follow Us On Our Various Social Media Communities For More Update;
All other links here - https://linktr.ee/bodatoken
Join our community on TG 😃 - https://t.me/Boda_Token
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