Recapitulation of reBASE AMA event held at AMA LOVERS CLUB
Date: Saturday, 12th December, 2020
Time: 20:00 UTC
The reBASE team was represented by @farmerjohn_rebase. 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 reBASE project
Ans : I’m f∆RMer John and I have a deep history in the DeFi space! reBASE is an ecosystem based on sound economic principles. The team on rebase are various developers and business development specialists all working towards a common goal, and they all have deep experience in the crypto and defi space
Q2 : Can you introduce the reBase project, what critical problems does it solve that existing solutions are not solving and what’s the competitve advantage
Ans : We have a simple rebasing system that is time tested and works, one REBASE every 24 hours. There are a lot of gimmicks in the elastic supply space, and those gimmicks do not last long. What has worked in other leading elastic supply tokens is one rebase a day.
The unique aspects, aside from a low marketcap of $250k, are that the roadmap has plans to introduce a farm with liquidity locking and farming bonds, as well as a stimulus system where different people get a second positive rebase daily.
Q3 : Can you briefly describe the Top milestones you have achieved and your target milestones with timelines, also share your roadmap
Here are some parts of our roadmap
We have accomplished the rebasing and the farm launch, we did a PREVIEW of the stimulus system in late Q3-Q4 this year, but the actual live system will come out next year
We are also prepared to incorporate the best of DeFi into our system as the space changes and improves, allowing us to take inspiration from others
2nd Segment: LIVE QUESTIONS
Q1 : Lately many rebase projects have failed after several days of FOMO. What makes reBASE different from those projects? Why should we trust reBASE?
Ans : Because we haven’t failed! We’ve been around since July 2020. During some of the more centralized parts of this project, people trusted us and we always delivered. The token is out, the token rebases, the farm is out, there is liquidity on Uniswap, and more!
There have never been any exploits on our smart contracts and everything functions perfectly.
Q2 : Recently, DeFi meme coin YAM succum to a bug within its rebase function, leading to loss of its on-chain governance feature. $750,000 Curve tokens stored in the project’s treasury lost as well. What technology does
have in place to prevent this from happening?
Ans : We just have better code. Instead of rushing code out in order for people to FOMO and Ape and buy into it during periods of hype, we take our time and responsibly roll out products. YAM modified the rebasing function without testing it and it broke. We didn’t modify it.
Q3 : Why did you decide to have the rebase happen every 24 hours instead of randomly?
Ans : Because random rebases are a gimmick. They don’t solve anything. Some teams needed the illusion of solving "volatility" so that it could be their differentiating factor for fundraising. It doesn’t accomplish anything except make it harder for centralized custodial exchanges to list them.
Q4 : Between Staking, Farm And Defi, Which one Among The Three (3) Does reBase Focus On Most?
Ans : DeFi definitely! As DeFi changes we will incorporate the best of what it has to offer into this token and ecosystem.
Q5 : As individual user, what ways can I contribute to the development of Your #REBASE Project? Do you have Ambassador programs and What is its benefit?
Ans : The best way would be to farm! Joining our farm earns you REBASE and contributes to the whole economy making it more attractive for more people to contribute!
1) Buy REBASE on Uniswap
2) Add REBASE to the REBASE-USDC liquidity pool, this gives you a Liquidity Pool (LP) Share
3) Deposit the LP share into the REBASE-USDC farm on www.rebase.farm
4) Earn and Harvest REBASE!
3rd Segment: TWITTER Questions
Q1 : Concerning Rebase farming, at the end of 60 days, will you consider having a new version of farming or come up with other ways of incentivizing liquidity?
Ans : Absolutely! First, the current farm is topped up for another 120 days right now! The same will be true for the REBASE-ETH farm!
In the future, the next version of our farm - the one described in the white paper - will have a way to reducing velocity as people will have their farming bonds to trade with, which can be redeemed for rebase later, instead of just earning rebase.
Q2 : 1. How do I provide liquidity to earn more REBASE, do I need only REBASE token or USDC or both?
2. After harvesting my REBASE, can I add more liquidity with the harvested REBASE to earn more tokens?
Ans : You need both REBASE and USDC (or soon, a choice of REBASE and ETH).
I mentioned the instructions how to farm earlier, but you can follow this tutorial here!
You can also add more liquidity again after Harvest, in fact we encourage you to!
Q3 : How does the oracles work on reBase? Are they centralized?
Ans : We have an oracle for price and in the future we may have an oracle for target price. We use multiple data sources already and have also been in discussion with oracle providers like Chainlink, Band, Tellor, Dia and more to further decentralize it.
Q4 : Binance has never listed any rebase coins,
How will REBASE break this record, do you have any plans to have the token listed?
Ans : Centralized exchanges actually have much difficulty implementing rebasing tokens! Binance can reach out to us once they upgrade their software.
Q5 : Each "rebase" will reduce the supply amount by the specified time. Of course, investing in REBASE tokens requires a good time, such as buying/investing before "rebase" occurs or after "rebase" occurs. So in your opinion, the recommendation to buy or invest is before or after "rebase"?
Ans : The first time to buy a rebasing token was when it launched, the second best time to buy is now! The rebasing mechanism doesn’t really offer arbitrage opportunities or predictive pricing that one is able to speculate around. You can only speculate around other people’s behavior.
Before you leaving can share all link where can buy tokens all social media..!
Ans : BUY:
✅ Uniswap - https://info.uniswap.org/token/0x4208d8d500b1643dca98dd27ba6c0060bca311c5
👨🌾 Farm - Rebase.farm
🌾 Website - Rebase.capital
🐦Twitter - https://www.twitter.com/rebasecapital
Telegram - https://t.me/rebasechat
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