Recapitulation of Bundles Finance AMA event held at AMA LOVERS CLUB
Date: Sunday, 22nd November, 2020
Time: 13:00 UTC
The Bundles Finance team was represented by @BundlesFinance. He 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 Bundles Finance
Ans : My name is Simon, my colleague is Sid. We launched Bundles earlier this year after working on another crypto project called Elevate Health. We have a team of 4 Devs and 2 admins on TG.
Q2 : Can you introduce the Bundles Finance project, what critical problems does it solve that existing solutions are not solving and what’s the competitve advantage
Ans : It’s a project that is meant to bring some fun and gamification to the crypto space. We give users the opportunity to compete against each other to see who has the best crypto prediction skills. It’s designed to keep users engaged as many projects have very short shelf lives recently.
Q3 : Can you briefly describe the Top milestones you have achieved and your target milestones with timelines, also share your roadmap
Ans : We were very excited to have our contracts and platform audited earlier this week. That was great news. The next milestone will be the launch of our platform in the next few hours! We will then develop the platform with more pools offerring different rewards and staking periods. That should be in the next month.
2nd Segment: TWITTER QUESTIONS
Q1 : Can we know about your staking? What’s the reward like? What’s the minimum amount I can stake? Where can I stake presently?
Ans : You can earn upto 3.6% a week on the current pool. We will launch further pools in the coming weeks with different returns. As long as you own $BUND you can stake! bundles.finance
Q2 : I saw on the Bundles Finance site there is a leaderboard, can you explain what the leaderboard is about? How do I participate in the leaderboard and what will I get if I enter the 10 leaderboard?
Ans : The leaderboard shows the users who have chosen the most profitable bundle of cryptocurrencies during the current staking period. If you are on the leaderboard at the end of the staking period then you will be earning $BUND from the losing users!
Q3 : The goal of staking $BUND is to choose a cryptocurrency bundle that achieves the best performance in a week, Excellent! But will these "cryptocurrency bundle" always be the same or will they constantly change depending on the market?
Ans : Nice question SabriFR. We will create other pools with different currencies n them. We’ll let the community help us decide which ones they would like. We can also have different reward structures and time periods in these pools. We have had requests for more DEFI coins in the choice so that it something we are looking at.
Q4 : Where is Bundles Finance 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 : We have reached the first stage of our roadmap, the upcoming launch of our platform already audited and our first staking pool. The next stages are creatng further staking pools for $BUND holders to participate in and then create other pools for other coins to stake in. So you could stake other ERC20 tokens within the Bundles Platform and $BUND users would earn additional fees. We have big plans.
Q5 : A big problem with many Defi projects seems to be that when farming begins, the price drops because people unload the funds that put liquidity into the farm. Is there an incentive to hold, not just farming and dumping?
Ans : Hi. That’s a good question. We are different from other projects in that we have a fixed supply. So we aren’t just creating new tokens that users dump. Many staking projects have huge token emissions that create dump scenarios. $BUND gives you an oportunity to stake against other users and win by having better prediction skills than them. The gamified element will keep people holding.
With a fixed supply, users can be assured that new tokens aren’t entering the market and being market sold.
3rd Segment: LIVE QUESTIONS
Q1 : Which one does Bund prefer? Increasing the Bund’s value or increasing its technology?
Ans : This is a good question. I think that you need to keep looking at both and they are obviously intertwined. Price action keeps a community engaged but the tech is really what builds in the long term. Regular updates and keeping engaged with the community is very important. Summary, we’ll do both!
Q2 : Community is the key to the success of projects, so besides organizing AMA, what strategy does Your project have to reach out and exploit new investors?
Ans : I have to agree with you. Community is so important. If you have a good community, then they are an enormous help to the project. Our ethos is to welcome everybody and be truthful and honest about things we are asked. Including answering uncomfortable questions! I think it also helps if your community grows organically.. it’s more authentic.
Q3 : Can you list 1 or 2 deadly features that make #your project stand out from its competitors? What competitive advantage does your platform have that make you feel the most confident in yourself?
Ans : Another good question. And so important in the current crypto environment where projects come and go in days or weeks. We have a unique project that is very different from anything else and we have a competitive element and who doesn’t like competition!
Q4 : Where is the reward of staking gotten from. Is it from the total supply or the transaction fee?
What happens to the staking reward if the total supply of $BUND runs out?
Ans : Thanks for the question. We have a fixed supply so gains come from the losing performers. So we will never run out of supply as the platform doesn’t require new emissions. Our rewards won’t ever have to decrease.
Q5 : How can we, as users or investors, trust your project, while we don’t know the whitepaper and roadmap about your project clearly. When did we find out about this? And what about this project in the future. can you explain a little?
Ans : Very good question and one we thought about when we decided upon our launch plan. We believe that the crypto space has changed since 2018 and investors want to have regular updates rather than a single WP. So we write a lot of Medium articles that explain different parts of the project. We have a roadmap but again, in 2020, your community needs to have a voice and a say in how we develop a project. We don’t claim to know everything and our community have given us many ideas that we hadn’t thought of. So a flexible, community engaged project has more longevity.
Q6 : BUNDLE FINANCE will reward long term holders,
Is there any incentive for short term holders of your token too?
Ans : Well recent holders have done very well! But our goal is long term growth and development. I can’t promise you a x5, but I can promise a developing project that really wants to be a DEFI mainstay.
Q7 : Where can I buy $BUND tokens? What exchanges are $BUND listed on +plans for future listings?
What fees do I have to pay on Bundles.finance?
Ans : We are currently listed on Uniswap but have several exchanges who have requested to list us. We will discuss with the community in the next week and see how they feel and what they think would be best for $BUND.
Q8 : In this era the lifecycle of interest in a crypto project is becoming shorter and shorter, particularly in the DEFI space...Can Bundles Finance will create the lifecycle of interest in crypto project is becoming larger and larger particularly in the DEFI space??and Tell us defference between Bundles Finance and Elevate Health??
Ans : You’ve done your research! We have plans to continue development so we stay relevant. In addition, the competitive aspect of our platform and the team’s history of psychology can be used to help engagement. Elevate Health is a behavioral project that helps create change in at risk persons. They are actually quite different!
Q9 : Q1
Recently, you shared the results of the audit report with Solidez Finance on your Twitter account. Congratulations on the result!
But, do you consider that this is enough to receive the trust of users or what would be the next step for users to trust the Bundles Finance proposal?
Could you explain in a summarized but understandable way how is the process of betting the $BUND on the Bundles platform?
Ans : We think the audit is a good start in building trust. The team being public has also helped. But the best way to build trust is to deliver what you say on a constant basis. Albeit, our launch has been delayed since yesterday but I think if you keep communications open and admit your mistakes, people generally are understanding.
Thanks for answering, Do you have any Final Words for community, also do good to share every useful links to project with us. You can share the link where can buy your Tokens.
Ans : Thank you very much guys and thank you AMAloversclub for having us... I’v never typed so fast in my whole life!
Follow Bundles Finance on their platforms:
... Website: https://bundles.finance/
... Telegram: https://t.me/BundlesFinanceDiscussion
... Telegram Channel: https://t.me/BundlesFinanceDefi
... Twitter: https://twitter.com/BundlesFinance
... Medium: https://email@example.com
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