Recapitulation of CRUDEOIL FINANCE PROJECT AMA event held at AMA LOVERS CLUB.
Venue: https://t.me/amaloversclub
Date: Sunday, 28th February, 2021
Time: 11:00 UTC
The CRUDEOIL FINANCE PROJECT team was represented by @Pyro_crudeoil and @Crudeoileng who judiciously shared with us detailed knowledge and information about CRUDEOIL FINANCE PROJECT.
1st Segment: INTRODUCTION
Q1: Can you please introduce yourself and your background, also introduce the Team working on the CRUDEOIL project?
ANS: My name is Petro and I am one of the cofounders of Crudeoil Finance. We have a team of like minded individuals who thought of implementing a revolutionary concept to the crypto community.
Most of us have a long history in Crypto eg: Pyro (the CEO) is in the crypto field since 2013 and a BTC OG himself. So we have many years of experience with us on crypto.
We wanted to try our concept on ETH network first but due to the heavy fees in gas we decided to move to Binance Smart Chain. So, we have started our development later Q4 2020/ Early Q1 2021 and here we are today.
Q2: Can you introduce the CRUDEOIL project, what critical problems does it solve that existing solutions are not solving and what's the competitve advantage?
ANS: Yes. a very good question
Traditional staking gigs require an infinite supply. New tokens need to be minted in order to keep the users staking. This “inflationary staking” causes a lot of sell pressure, and diminishes the value of the token. This is where Crudeoil Finance comes into play. Once the total supply 100,000 OIL is minted, No new tokens will ever be minted again. Infact Total supply will keep reducing. There is a burn for every transfer, that is gone forever.
The key feature is its the deflationary feature. It is something to do with the human psychology. if people dont sell, the price will hold. If people sell, they are playing into the holders hand. just a beautiful concept.
Holders will have a chance to Stake/Farm Binance smart chain assets (BEP20) and get staking/farming rewards from OIL tokens.
We are actually building an ecosystem around $OIL which was our first token.
Frankly the initial idea was to build on Ethereum and contribute to its ECOsystem. As you all know and aware, Gas price is killing ETH dapps at the moment. So we moved onto #BSC.
So far, we have been getting a lot of positive feedback from our community
In addition, we are adding another token called $DIESEL to our ecosystem. I will describe about it later on.
Q3: Can you briefly describe the Top milestones you have achieved and your target milestones with timelines, also share your roadmap?
ANS: On 18th Feb we started with a max supply of 100,000 now within 10 days we have already burnt a lot.
At the end we will burn over 90% of the supply to end up at mere 10,000 $OIL tokens
Interms of $OIL, we have achieved many milestones including below.
1. Oversubscribed private sale
2. Public sale that was closed within 3 seconds
3. And then a healthy run for our early backers. However, the biggest news on this token is yet to come with many benefits for $OIL holders. (I mean serious benefits 😉)
Most importantly, with $OIL we have burnt the LP tokens. That means the liquidity on Pancake is locked forever. We did this to show to the community our commitment for long term development.
We will not be a mushroom project but will keep on #BUIDL ing
Our next token is $DIESEL and below are the reasons for us to introduce a new token to our ecosystem.
We have been approached by well known AMMs in the BSC space and shown their interest in doing an IFO with us. We are pondering the possibility from that front as well in collaboration with them. Hence this token will be utilized for that purpose.
There will be no burn mechanism implemented hence we can use it to list it on a top grade centralized exchange. (We got so many offers to get it listed on centralized exchanges due to the burn feature we couldn’t get it done)
In fact, the public sale phase 1 is going to be today at 2 PM UTC on our own launchpad https://launchpad.crudeoil.finance/
Q4: Can you briefly describe your PARTNERSHIPS?
ANS: Yes. They are important, aren't they?
We have started with partnering with #Certik which is the world’s best smart contract audit company. Then we also partnered ourself with Stakd and BHC tokens. We will also announce our IFO partner and exchange partners very soon.
Q5: Can you give an overview of your Tokenomics, and the UTILITY of the $OIL token?
ANS: $OIL is our first token. The tokenomics are shown below.
Then we plan to implement $DIESEL. We have successfully completed another oversubscribed private sale round. The public sale phase 1 is today on our own launchpad. The public sale launch on a very popular IFO platform and the details will be announced very very soon.
The tokenomics of $DIESEL are shown below.
$DIESEL will be the medium for buying and selling NFTs on our upcoming NFT market place.
Also, Yield aggregator fees will be distributed among the DIESEL and OIL token Stakers on our platform.
2nd Segment: LIVE Questions
Q1: Due to many rug pull happening in the industry, many investors have lost confidence in most of the new projects entering the space, thereby making genuine projects suffer due to this impression. How does Crudeoil aim to prove to it community that its honest and different from other scam projects out there?
What incentive strategies will you be introducing to help gain attention from more people?
https://twitter.com/BisolaHafsat/status/1365985826476339200?s=19
ANS: Very very important question.
When we began, the biggest concern we had was the many rug pulls that deteriorated the investor confidence. But we were honest and we expressed our intentions to the community.
The community responded with a bang and we had X5 oversubscribed private sale. Lot of #BSC OGs like BSCPleb, ChonkGangsta, Kdot, Axel joined hands with us.
After this, when we listed, we burnt the LP tokens forever. So the Liquidity is locked forever.
Q2: 1. I read that CrudeOil had a x5 oversubscribed private sale. Was this achieved single handedly and what did the team do with the excess funds?
2. What actions have the team taken to assure users that CrudeOil will be here for the long term?
https://twitter.com/KurangaHA/status/1365788754489835523?s=19
ANS: Another good one. We duly returned the excess funds and showed our genuineness. Same happened with our private sale and it was sold out on like 3 seconds. We returned the excess BNB again.
This assures that we will be here in the long term showing commitment.
Q3: Q:During the development of Crudeoil, how have you faced and solved the challenges and difficulties in technology development and market orientation?
Q:Are you planning to launch your own Swap platform in the future?
https://twitter.com/MartinL11135159/status/1365809550142496768
ANS: Very good question again. During the launch we experienced a massive DDOS attack recently. Since then we have upgraded our platform infrastructure and moved to sophisticated AWS platform with ultra high security. We understand that security is a continuous improvement but not just a one-time task. So, we are committed towards continuous improvement.
Q4: ✅ You said the public sale for DIESEL token is starting soon. Can you share the details please, what is the price, what is the cap, will it be only 1 round, etc?
https://twitter.com/cengizhantekin/status/1365985005034479621
ANS: Yes. Very relevant in today's context. So we have two public rounds.
1. Public sale Phase 1 - Conducted on our own launchpad https://launchpad.crudeoil.finance/ on today at 2 PM UTC
2. Public sale Phase 2 - Will be on a popular IFO/IDO launchpad. We will announce the details after Phase 1
The details about the Phase 1 can be seen here.
https://crudeoilfinance.medium.com/diesel-public-sale-phase-01-contribution-guide-b7dd29dd48dd.
Q5: Are you planning to launch your own Swap platform in the future?
https://twitter.com/MartinL11135159/status/1365809550142496768
ANS: Very good question again. During the launch we experienced a massive DDOS attack recently. Since then we have upgraded our platform infrastructure and moved to sophisticated AWS platform with ultra high security. We understand that security is a continuous improvement but not just a one-time task. So, we are committed towards continuous improvement.
OIL contract address? - 0xb1b17dff66d75b29d34f0bf8622c406d8219b507
DIESEL contract address? - 0xe1ea2e1907d93f154234ce3b5a7418faf175fe11
You can buy OIL here
https://exchange.pancakeswap.finance/#/swap?inputCurrency=0xb1b17dff66d75b29d34f0bf8622c406d8219b507
its very easy. Then you can visit https://crudeoil.finance to stake. Its self explanatory and our team is there in our TG Group to help you with it
Q6: What are the plans to educate and increase awareness and adoption among the community to make more people understand the project easily? Do you think DeFi will destroy the existing financial system?
https://twitter.com/asepsur58799258/status/1365985528441528320?s=19
ANS: When we presented the concept to BSC OGs like BSCPleb, ChonkGangsta, Kdot, Axel they really supported us. We use the community empowerment skills to educate about our work and our contribution to both #BSC and #DEFI.
Q7: There’s a station on your website named "BURNING HAPPINESS" can you tell us what is it for and how do you plan to increase the $OIL token value?
https://mobile.twitter.com/Zurox16/status/1365873736944144384
ANS: This is our partnership with Billion Happiness Token $BHC. We offer them to stake $BHC LP tokens to earn $OIL.
Q8: What is your assessment of the race to increase APY per trading pair of today’s farming-defi platforms? Does this pose a challenge for you?
https://twitter.com/songa9281/status/1365951598430539776
ANS: We believe its not all about high APY. Not only high APYs are unsustainable but they lead to dumping of tokens. Thus, we offer a high but decent APY for our stakers.
Q9: Why I have to choose you instead of so many BSC finance Projects right now out there. What makes Crudeoil finance unique and with great potential?
and how do you attract people for this project?
https://twitter.com/KasunDewaka10/status/1365188159332446210?s=19
ANS: We developed the tokens to tap human psychology. if people dont sell, the price will hold. If people sell, they are playing into the holders hand. just a beautiful concept. The holders will be rewarded and rewarded big time. Its just being patient to hold.
Q10: Will stakers earn revenues after the 100.000 OIL gets minted and there is no more supply to pay them? What will be the incentives to stake then?
https://twitter.com/Rosanela08/status/1365845030557089800?s=19 088?s=19
ANS: So, as I mentioned, we are in the process of developing an ecosystem. $OIL was the first and $DIESEL is the second Staking and Farming will be a feature on both tokens. So, even after all OIL are minted, the holders will still get benefits via our other eco system tokens. This is on top of the capital gain the OIL holders are expected to receive.
Remember, At the end we will burn over 90% of the supply to end up at mere 10,000 $OIL tokens.
Q11: The Crudeoil financial platform makes the power of DeFi, instruments available to the mass market and as the project develops contributes to the growth of Binance’s Smart chain ECO system (BSC), what big benefits will your platform get in this partnership.??
https://twitter.com/bimasuryaatmaj1/status/1365484344136011776?s=19
ANS: Not only BSC but we also plan to move to Huobi Eco Chain. HECO. We all know how big ETH is and how Uniswap supported the current bull run. CZ saw the opportunity and introduced Binance Smart Chain. We all know how soon it grew. Early projects on BSC like Pancake and Bakeryswap have grown very fast. Houbi is another giant in this field and we all know it. Everyone can assume that HECO is going to be big too. So we want to gain the early mover advantage into HECO.
Q12: $OIL holders will be able to access to a discount of 5% to adquire $DIESEL, what are the specifications for this discount and why should the $OILS token holders buy $DIESEL? What makes this token special?
https://mobile.twitter.com/ari_tulip/status/1365829282010980356
ANS: Yes. Not only the purchase discounts but $OIL holders will also get Airdrops. $DIESEL will be the medium for buying and selling NFTs on our upcoming NFT market place.
Yield aggregator fees will be distributed among the DIESEL and OIL token Stakers on our platform.
Q13: 🟣The phase one of the $Diesel public sale will start very soon, so can you please share us the fully requirements to participate on it?
https://mobile.twitter.com/manugotsuka1/status/1365835442067800073
ANS: Yes. This guide is a good start. The sale starts in a couple of hours. 2 PM UTC
https://crudeoilfinance.medium.com/diesel-public-sale-phase-01-contribution-guide-b7dd29dd48dd
Q14: CrudeOil partnered with Certik to conduct the audit of their smart contract to boost the security of their project. But in the case of hacking or external attacks, what security measures have been put in place to prevent both?
https://twitter.com/Abiodunbbey/status/1365790666475896832?s=19
ANS: Very good question.
Certik is our smart contract audit partner and you can see our project listed in their onboarding projects list.
CONCLUSION:
Last but not least, If you missed the run of $OIL run, you wouldn’t want to miss the $DIESEL. We have planned the public sale phase 1 today at 2 PM UTC. You can also join us there. The details are here.
https://t.me/crudeoilfinance_ANN/168
$OIL holders will get a 5% discount on the sale.
Thank you!
Follow Us On Our Various Social Media Communities For More Update;
SOCIALS
🛢 Website: https://crudeoil.finance
🛢 Email: contact@crudeoil.finance
🛢 Twitter: https://twitter.com/crudeoil_fi
🛢 Telegram Chat: https://t.me/crudeoilfinance
🛢 Telegram Channel: https://t.me/crudeoilfinance_ANN
🛢 Blog: https://crudeoilfinance.medium.com/
🛢 Github: https://github.com/CrudeoilFi
🛢 Docs: https://docs.crudeoil.finance
🛢 PitchDeck: https://docsend.com/view/x9puqwhca8ciwbt4
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