Recapitulation of CUEX ( By Cue Protocol ) PROJECT AMA event held at AMA LOVERS CLUB.
Date: Friday, 3rd September, 2021
Time: 15:00 UTC
The CUEX ( By Cue Protocol ) PROJECT team was represented by @Cuepio who judiciously shared with us detailed knowledge and information about CUEX ( By Cue Protocol ) PROJECT.
1st Segment: INTRODUCTION
Q1: Can you please introduce yourself and your background, also introduce the team working on CUE PROTOCOL?
ANS: So CUE launched back in March and since then we have been building our both our ecosystem and our partnerships.
We are a team of 4 and based in the United Kingdom.
We launched CUE Protocol to create a full ecosystem for both investors and projects and we have plenty in store in the coming weeks / months.
Our background has always been within the tech industry and now crypto is our life, and we would not have it any other way.
Q2: Can you introduce CUEX, what critical problems does it solve that existing solutions are not solving and what's the competitive advantage?
ANS: CUEX is our entry into DeFi.
CUEX will use a new token (CUEX) which will allow holders to earn through the automted market maker and/or stake in the CUEX staking pools within our DeFi dashboard.
CUEX is not a traditional farming token, unlike most farming tokens we will not start with insane APR's which only benefit those who get in early, creating a pyramid system.
CUEX will launch with stable healthy rates which avoids this kind of system which does not favour later investors.
High rates create huge inflation and unless those emmisions are offset pretty quickly, those projects fail and investors can end up being down 90% even in a bull market because those emmissions simply get sold which means more tokens get sold than bought, this creates a guarenteed price decrease.
With CUEX we will start where most farming project end, at a good stable rate.
It also means our emmissions are lower and it is far easier to offset these with our dapps and ecosystem in general, meaning price increases can occur with rewards.
Q3: Can you briefly describe the top milestones you have achieved and your target milestones with timelines, also share your roadmap?
ANS: CUEX will launch with the staking dashboard ready to roll from day one.
We have already been audited by RD Auditors this week and they will be auditing our staking contracts too prior to launch.
In terms of targets, CUEX will launch with its 10% tax after listing on PancakeSwap:
5% to liquidity
2% to CUEX holders
2% to CUE liquidity
1% used to buyback CUE and distribute to CUEX holders periodically.
We will then activate the first staking pool for CUEX.
We are launching the IDO on the 10th September 2021 at 6PM UTC with BSC Starter as a certified IDO too.
In terms of CUEX down the road, we will see other project partnerships with other pools coming onboard, so holders can stake their CUEX to earn other tokens too.
We have a huge partnership coming too with a top 20 cryptocurrency for our exisiting and future dapps within the CUE ecosystem, so stay tuned.
In terms of CUE, we have lots coming; Launchpad+CUED, NFT marketplace V2, Wallet, gaming and much more.
I read that the IDO will be on multiplatform
Where else will the ido hold?
Yes, Starter have the exclusive first IDO.
The second IDO will held on our own launchpad!
That's an exclusive I believe 😎
Q4: Can you briefly describe your PARTNERSHIPS so far?
ANS: We partnered with Certik, RD Auditors and Quill Audits for our launchpad and CUED platform.
We also partnered with https://www.coinpayments.net/ so that any ecommerce store can accept CUE as a from of payment method.
We have a partnership with https://btcwardrobe.com/ who design merchandise for us and accept CUE as a form of payment using our Coin Payments partnership above.
We also partnered with Swift Blockchain too which allows us to be listed on their exchange and aggregator.
We have an upcoming one with a huge top 20 crypto too but I can't say too much due to NDA, but everyone knows them 😎
With our lanuchpad and defi platform on the way many more will come and are already in discussions.
Q5: Finally before we proceed to the community live segment, Can you give an overview of your Tokenomics, and the UTILITY of the $CUEX Tokens?
ANS: CUEX is also an AMM and has a 10% tax on each transaction.
5% to CUEX liquidity
2% to CUE Liquidity
2% to Holders
1% to Buy back CUE and distribute to CUEX holders
This creates a cross token utility which benefits both tokens.
CUEX gets liquidity generated and hodlers make more CUEX without doing anything.
CUE holders get liquidity and buy backs and in return CUEX holders earn CUE.
This created a demand for both tokens at the same time in different ways. You can hold either token or both.
CUEX utility will also come from other projects opening staking pools with us, as you will need to stake CUEX to earn those other tokens, creating scarcity further.
The higher the TVL of CUEX the further it effects supply and demand.
CUE remains the utility token whilst CUEX is our financial tokens and both will be utilised in multiple dapps to fruther increase usage and take the tokens off the open market.
The launchpad will utilise both tokens for example, CUE for investors and CUEX + CUED for projects.
2nd Segment: LIVE Questions
Q1: I understand that your smart contract has been audited by RD Audit. But, do you think that just one audit is enough to detect all loopholes and bugs in a contract? Hence, do you have plans to apply for audit with other top Audit platforms like Certik and the rest in the nearest future?
ANS: We intend to have multiple audits, after launch we will invite more auditors to take a look at our contracts.
Q2: Crypto Pericles @MichailDouranos who introduced me to CUE on twitter said "$CUE is literally like $CAKE or $UNI or $SUSHI at their infancy...But it'll be much better". Does $CUE really have what it takes to outperform these projects ? What features of CUE due you think would see it earn a huge acceptance in the market. Is it true that you learnt from mistakes of many of these projects to build an ultra deflatory mechanism
ANS: As mentioned before, rewards are great and high rates look appealing but they are nothing with offsetting emmissions as supply increases too fast, meaning early adopters sell the rewards and because their is no offsetting it means to price freefalss due to selling volume outweighing buy volume.
PancakeSwap for instance have this nailed, lost of emmission but also lots of burning to offset but others do not.
Q3: MY QUESTION IS ABOUT THE CUE NFTs‼️ ✍️ ✍️ ✍️On your website it says that the #CueNFTs will provide users with premium features in the Cue ecosystem, but, all NFTs must be collected in order to enjoy these features, so how many #CueNFTs are there in total?
ANS: All NFT's have utility but collect them all and you get the ultimate utility yet to be revealed.
Q4: From an investors perspective, which of the tokens between $CUE and $CUEX will you advice and investor to invest in, that could yield more passive come? Also since the $CUEX token has not been lunched, what will users get in return when they stake $CUE for $CUEX on the CUE/CUEX staking pool?
ANS: Both tokens will work in unison.
We recommend both, CUE provides utility and CUEX is our financial token, but we will be integrating them both into our dapps and giving lots of utility to both.
The AMM gets this started from launch.
Q5: -Taking into account the large number of auditing companies that currently exist in the market, why did Cue Protocol choose to work specifically with RD Audit to carry out this delicate task for your platform?
ANS: We have a reputation with them already and Starter recommend them too who are doing our IDO.
They are also a partner of ours, so it make a lot of sense.
Q6: CUE BSC Charts is a coming feature on the platform. What metrics will be used to design this Chart and rank projects? What gives validity and trust to it?
ANS: CUE Charts is already released and allows BSC users to chart any BSC tokens.
Users can also vote for their favourite tokens which only costs gas.
Q7: °°Cue Protocol has on Telegram a current community of around 9000 members, congratulations on that growth! How important is for you the development of your community? What strategies do you expect to use to increase your number of users in the short and medium term?
ANS: Our community is very important to us, thats why we are in our TG group almost 24/7, we want to be present at every opportunity for our holders.:
Follow Us On Our Various Social Media Communities For More Update;
⏰ CUEX IDO on 10th September 2021 with Starter.xyz
🔥 Buy CUE now to qualify for the CUEX airdrop in 3-6 months time, must buy before IDO to qualify.
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