Recapitulation of BORPROTOCOL PROJECT AMA event held at AMA LOVERS CLUB.
Date: Wednesday, 14th April, 2021
Time: 14:00 UTC
The BORPROTOCOL PROJECT team was represented by @LeGeNd_33 who judiciously shared with us detailed knowledge and information about BORPROTOCOL PROJECT.
1st Segment: INTRODUCTION
Q1: Can you please introduce yourself and your background, also introduce the team working on BORPROTOCOL?
ANS: I'm Michael marketing Chief of Bor Protocol. I have worked for Bor Protocol on various projects from small to large. I myself have gained several experiences in the marketing industry and as a developer since I have a Java, python past. The idea itself belongs to Chris the Co-founder. We got Stan! We're a team of 3. We have plans to expand and still looking candidates for our team to strengthen.
Q2: Can you introduce BORPROTOCOL, what critical problems does it solve that existing solutions are not solving and what's the competitive advantage?
ANS: Bor is a Decentralized finance ecosystem and growth engine for your crypto. A next GEN yield farming. Bor Protocol connects you to the best available yield farming strategies. The smart Robo technology lets you analyze and gives the best options in real-time for DeFi trading and farming in one single platform. Robo advisory, investment/funds management, liquidity, borrowing/lending and more advanced trading products in a decentralized way, that enables you to earn more with your digital assets on yield farming with just one single place to add your liquidity. U can easily switch for best yield farming protocols on Bor Protocol ecosystem where you can choose with almost instant transactions and create your own position with just one click access. The smart Robo technology lets you analyze and give you the best options in real-time. Which gives you a great insight on how to decide and shift either way in-case needed.
Q3: Can you briefly describe the top milestones you have achieved and your target milestones with timelines, also share your roadmap?
ANS: Every day is a new challenge.
We've got a long way to go. We're creating something unique I don't think working out the idea is always easy. We love our work and want to give our users the best of the best.
We've got our private sales this week. Our whitelist form is opened today.
We also have a sneak example of our platform for our users today.
We are working on our roadmap when the team is ready it will ne published.
Q4: Can you briefly describe your PARTNERSHIPS so far?
ANS: In the field of partnerships, we are very careful to choose the right partner and not just to find a partner for hype.
We only enter into a partnership if it can add value for our project in the short and longer term.
We are in talk with different projects.
When we're ready, we'll make it known.
Q5: Can you give an overview of your Tokenomics, and the UTILITY of the $BRP Token?
ANS: BRP token has various utilities in the Bor Protocol financial ecosystems:
Liquidity Mining: In order for the Bor Protocol ecosystem to function properly, users would need to be incentivised to play the role of liquidity providers and stake their digital assets into the market making pools. As compensation for opportunity costs as well as impermanent losses, these liquidity providers which help to promote adoption of the Bor Protocol ecosystem by staking or including assets to liquidity pools would be rewarded with $BRP tokens (i.e. liquidity "mining" programs on the Bor Protocol ecosystem), according to each user's relative contribution after various adjustment and correction parameters.
Incentivizing programs: Users can earn $BRP token incentives by participating in the platform, for example trading/exchanging, or development of new strategies for the vault.
Community governance incentives: Users will be required to stake their $BRP tokens in the staking program to participate in governance and vote on proposals, and as a reward they will be able to earn additional $BRP tokens proportionate to their contributions
Total supply of Bor Protocol is capped at 10,000,000 BRP.
4,000,000 $BRP tokens are allocated as public sale tokens. 100%
Will be unlocked at TGE.
Ecosystem Funds & Reward Pool: 3,000,000 $BRP is allocated for
the community as a reward pool and ecosystem.
Total reward pool of 1,500,000 $BRP will be distributed under
incentive programs including yield farming, staking and liquidity
pools over a period of 12 months.
An additional 1,500,000 $BRP has been allocated for future community-based platform reward programs and will be
disbursed over the course of next 24 months.
1,500,000 $BRP tokens are allocated to
founders & the team.
The advisors are allocated 500,000 $BRP with 12 months vesting.
Team & Advisor Tokens will remain locked for the first 12
months. 20% unlocked at TGE. Remaining 80 % every for 12
The Bor Foundation is allocated with
1,000,000 $BRP token with 12 months vesting. 10% unlock on TGE.
Remaining every month for 12 months. The same will be efficiently
utilized for future strategic funding requirements and product.
2nd Segment: LIVE Questions
Q1: Alot of us relies on the Farming yield especially for generating extra cashflow which means we all are eager to check out the #Borprotocol platform to maximize profit..
When is the expected time the #Borprotocol platform will be fully functional for operation?
ANS: We have a tight work schedule. What we work on every day. Our platform will be launched at the latest q3 so excited times will come!
Q2: The Bor foundation have three (3) key products which includes Bor Money Market, Bor Advisor and Bor Yield. I understand the Bor Money Market and Bor Yield aspect. Can you please explain what the Bor Advisor is and who is eligible to become an Advisor?
ANS: an inbuilt robo-advisory service designed to chalk out profitable and customized strategies for users to hold better positions based on their financial goals. The automated robo service analyzes the user profile and evaluates personalized solutions that will help accomplish the users' financial goals by employing a diversified portfolio. The data-driven proprietary algorithms facilitate unleashing the potential of a certain portfolio by executing smart tactics.
Q3: Now a days every 2nd Or 3rd project rug pulled or exit scam. Because of those scams ..Investors got scared. So tell us Why should investors trust your project not to do the same? Please give us proper reasons for this.
ANS: In the past I myself have also made wrong investment in projects, where I have had losses.
We believe that users should be careful research before they enter a project. Users must have a comfortable feeling with a project before they decide to invest in something. We think you don't have a guarantee in the current crypto world with the last exit scams. Do your research well and Don't invest more than you can afford to lose/ priorities.
Q4: Smart contracts are the weakest link in a project. For this reason, some DeFi projects suffered millions of dollars in losses. What precautions have you taken regarding the security of your Smart contract to avoid the same damage?
ANS: Smart contracts we have our developer Stan for. A developer who is the best in smart contract.
Q5: Not everyone around the world can speak the English language well enough. How will you raise awareness about your project in different countries where English is not well spoken? Have you created local communities in these countries to better understand your Project?
ANS: Good question we've definitely thought of it!
We want to extend as a project to the places where no English is spoken. For that, we will launch an ambassador program where our community members can sign up for different countrys.
Follow Us On Our Various Social Media Communities For More Update;
Telegram Channel: https://t.me/borprotocolANN
📢🗣 Bor Protocol private sale whitelist form IS NOW OFFICIALLY OPEN!
🔖 ONLY accurate forms will be processed with priority, make sure you fill in the form with no errors!
DO NOT apply if you are US citizen
📌 DOUBLE CHECK your eth address!!!
✅ Successful applicants will receive an email confirmation.
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