Recapitulation of CAKE TOOLS PROJECT AMA event held at AMA LOVERS CLUB.
Date: Friday, 16th April, 2021
Time: 12:00 UTC
The CAKE TOOLS PROJECT team was represented by @KingDave201 who judiciously shared with us detailed knowledge and information about CAKE TOOLS PROJECT.
1st Segment: INTRODUCTION
Q1: Can you please introduce yourself and your background, also introduce the team working on Cake Tools?
ANS: i am Okwudili David Eze the co-founder of caketools i have been involved in some many blockchain projects since 2015 and early adopter and investor, my team is made of up 3 solidity devs, a product designer, frontend dev and 1 marketing coordinator, we are still expanding and hiring.
4 mods / admins on the telegram, and 10+ users helping us coordinate marketing efforts, and advertising. Anyone is welcome to help contribute, feel free to get in touch with me on TG after this AMA if you are interested.
*Even when bnb price hit let's say $2k
ANS: Validators will always vote to lower gas price as needed to accommodate shifts in BNB value.
Q2: Can you introduce Cake tools, what critical problems does it solve that existing solutions are not solving and what's the competitive advantage?
ANS: The rise in Ethereum use cases created a problem: high gas fees. These high gas fees make it impossible for traders to perform and complete transactions with ERC-20 projects over the Ethereum network.
then came BSC to the rescue, Binance Smart Chain offers a flexible platform for developing high-performance decentralized applications. a blockchain optimized for fast trading and low network fees.
With the DeFi ecosystem being the hot bed for many projects and users saying goodbye to the transaction hassles of the Ethereum network, there is a high influx of users into Binance Smart Chain.
However, users have no access to tools to get real-time data on pools, liquidity, and volumes. This is the lacuna Cake Tools has come to fill.
Cake Tools will be providing the community with data aggregated from all decentralized exchanges on Binance Smart Chain. Traders can leverage our product (web Dapp) to analyze market movements,view candle stick (charts) track the growth of BSC projects, and develop profitable investment strategies.
Q3: Can you briefly describe the top milestones you have achieved and your target milestones with timelines, also share your roadmap?
ANS: sure, we have been able to get the caketools app to almost 90% now and we have been able to pull data from pancakeswap despite the issues pcs subgraph, we have made ahead way in that regards
we have also been able to get one of the big weights in african crypto space to work us and we are so happy for that
we have seen overwhelming replies in terms of our private sale rounds these coming days and weeks is so important to us as we are going all out for marketing and we have also secured top notch launchpads to conduct our IDO
our road map is fully loaded
at listing our web app will be live for and ready for all to use without hassle.
Q4: Can you briefly describe your PARTNERSHIPS so far?
ANS: we have many projects interested on our projects as well as VCs we are still negotiating terms and it will be public in the coming days, we secured a long term promotional deal with Bsc.news already and that deal is in effect and so many more coming which i wont disclose yet until the finale agreements is done then we both parties will announce.
Q5: Can you give an overview of your Tokenomics, and the UTILITY of the $CKT Token?
ANS: Cake Tools Token (CKT) is the native token of caketools.io, which will be used to unlock the full features of our dAPP. Unlike many DeFi projects, CKT will transcend being an idea on a white paper to a digital asset with real use cases.
Total supply: 150,000,000 will ever exist and its in deflationary
premium holders will be rewarded monthly from the CKTshares
monthly revenue will also be rewarded to top holders and 10% of those revenue generated will be burned
more detailed information will be shared on our update whitepaper that will be published along side our new landing page.
Q6: Was there an audit?
ANS: we have engaged solidity finance to provide an audit that is been done currently
We were onboarded onto Certik about 3 weeks ago. Certik has provided us a preliminary report and will be releasing it on their website soon. Again, this is a third-party and we have no control over how slow / fast they release their audits but they are a very reputable company and we value their report.
2nd Segment: LIVE Questions
Q1: Will I be able to Buy or sell Pancakeswap Tokens directly within caketools interface without having to leave caketools site? Is this possible?
ANS: yes this is one of our killer feature that we developed, you will be able to swap multiple pairs in one interface and wont be stressing your self with opening different taps for different token swap.
Q2: In a nutshell, can you list some of the steps that have been taken by your team to reassure users that the CakeTools project can be trusted and there will be no chance for the project to RUG PULL in the long run?
ANS: we started first by sending our codes to one of the top security auditing experts in this case is certik.org, we have been kyc'd by our partners example is bsc.news and the team is public.
Q3: Cake Tools project there are four feature is Improved Functionality
> Launchpad And Marketing Tools
> Alternative Chain Support
> More Integration From Community Feedback
Please discrive this improved function.
How can Community get more benefits?
ANS: caketools will support other chain in future like eth,polkadot ecosystem and many more,and will also play active role in raising funds for new projects we are backing and our premium holders will be able to co-incubate these projects with us along with our partners. Finally on this we are building along with the feedbacks we get from the community.ie caketools is community driven.
Q4: Which area Cake tools does focus on at the moment? (DeFi, Nft, Dapps, Stake, Yield Farming..)
ANS: cake tools is a defi charting hub, powered by binance smart chain we are fully focused on (dapp) analytics providing safe and reliable trading dex trades tools.
Q5: Please tell us about $CKT premium features...and how can we access to get premium by using $CKT??
ANS: premium features gives you access to the caketols vip group, access to private sales ,save/bookmark many of your favorite tokens/pairs, use our all in one swap interface , track wallets and many more.
Cake Tools is primed to be the best charting tool. As the BSC community continues to grow and evolve, users can rest assured that they can make informed investment decisions since they can access real-time data about the market. For Cake Tools, the vision is big, and the potential is even bigger.
To get more information on project updates please follow us on twitter https://twitter.com/cake_tools
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