Recapitulation of REKT Redemption AMA event held at AMA LOVERS CLUB
Date: Sunday, 1st November, 2020
Time: 16:00 UTC
The REKT Redemption team was represented by @DameonG and @syedasifparveez. They both judiciously shared with us detailed knowledge and information about the project.
1st Segment: INTRODUCTION
Q1 : Can you please introduce yourself and your background, also if you have a team introduce them
Ans : I’m a blockchain Dev consultant and entrepreneur. I’ve worked with software last 19 years. From QA. Development project mgmt. and sales. Last 5 years in blockchain. Mostly interested in the future of tokenization. NFTs and DeFi
You can look me up on LinkedIn. I’ll put link. https://www.linkedin.com/in/dameon-green-20994556/
About me, I’m a Blockchain Consultant as well, having lead two Blockchain projects in the past, one into Tolenization of Real Estate and a Medical Records management system! I have an overall 13 years of Software industry experience, now looking forward to leverage DeFi for community betterment.
Q2 : Can you introduce the Rekt Redemption project. Why did you choose such name, and what critical problems does it solve
Ans : Rekt redemption was created to pay back those in the Defi community who have been scammed on previous projects
We think of it as a multi level system of redemption. We offer up our profiles because we basically can’t scam you now. We are not anonymous. We are building a team and community to drive this.
Since we offer up tokens and rewards for those who hold token of scam projects. They are able to make some funds and participate in the community
Q3 : Do you have a criteria for the repayment of those who have been scammed? Can you share more about this and why do we have to wait for project to scam before doing something
Ans : So we have chosen 6 projects and will choose more by vote on telegram.
You simple have to hold the token. I can check the contract and reward pro rats share
We have 3000 Rektr token that will be airdropped right after sale. This will be split amongst project
Q4 : Can you briefly describe the Top milestones you want to achieve with timelines, also share your roadmap
Ans : We would like to have a staking app within 10 days. Complete. But probably before. Community governance structure within the month. A version 2 app and project. That will be a surprise based on demand. Before year end
We will hold airdrops for those want to get involved
Q5 : Are you 2 the only developers in the team or you have more developers cos what you want to achieve would require more hands on deck
Ans : More coming. There’s a contractor. But we will build team fast
Q6 : We are living in the days of RUG PULL, now what do you have to tell the community, have/will your smart contracts be audited, will there be a full proof of LOCK liquidity? This is one of the most important questions investors must have answered
Ans : It will be community audited and discussed in detail. Yes we will lock with Unicrypt after the sale. At initial liquidity on uniswap. No problem. We will provide bounty tokens for audits
Q7 : Community Audited? I think am just hearing that today. Most of the audits have seen were from organisations like CERTIK, HACKEN. Please explain more about the community audit
Ans : Sure. But many reputable project have gone community audit route as well. We intend to have an open discussion about what everything does and what future deployments have entailed.
Will entail. Sorry
Q8 :Then finally, your Presale is ongoing, tell us how to participate, also should you not meet your required funding goals, what will you do?
Ans : You simply need to send ETH from your web3 wallet to the token sale address provided on our website
You will receive our Tokens REKTR after the sale is completed on 3rd November 16 UTC
Here is the detailed post for participation:
REKTR Token Sale is now Live!!
50% bonus to first 60 investors 💰💥
We know investors will invest in other projects with confidence as they know they are backed by the 'Rekt Redemption' Protocol!🤝
Join before the sale ends! 💰https://t.me/rektredemption
💎REKTR token Pre-sale Period: 31st Oct, 2020 at 16.00 UTC until 3rd Nov, 2020 16.00 UTC.
Countdown to end of Sale
Total Supply: 33,000💰
Token Symbol: REKTR
Softcap: 100 ETH
Hardcap: 800 ETH
Min: 0.2 ETH, Max 5 ETH per wallet
What is REKT Redemption?
Rekt Redemption is a DeFi Yield farming protocol with ‘REKTR’ as its native governance token which is rewarded to anyone who got rekt on select scam projects.🥴 Rekt redemption is a community driven project and a noble attempt to minimize losses for our darling DeFi community. We have set the initial standards for the platform, however these will be governed by REKTR token holders in the future, what project to honor, how many tokens to give away etc., will all be decided via voting. 💎
The protocol allows you to farm REKTR by staking the LP tokens from the REKTR/ETH Pool of Uniswap or stablecoin pools such as DAI/ETH, USDT/ETH & USDC/ETH.
2000 REKTR - Private Sale
8000 REKTR - Presale
12000 REKTR - Staking rewards/community voted
2000 REKTR - Uniswap liquidity—locked 🦄
4000 REKTR - Team & marketing
2000 REKTR - Bonus Tokens- Sale/liquidity 🏆
3000 REKTR - Rugged projects/Redemption Pool
Private sale: 20 REKTR = 1 ETH
Presale Price: 10 REKTR = 1 ETH
Uniswap Listing Price: 5 REKTR = 1 ETH
Uniswap liquidity: 40%
Development & Growth: 50%
Donation to Rekt Projects: 10%
📌All Tokens will be distributed 1 hour after sale👏
📌Liquidity will be added to Uniswap 2 hours after sale
📌First 60 buyers get 50% bonus!🏆
🔷How to participate?
Send only (ETH) Ethereum to the following address from a non-custodial wallet (MEW, Trust, Metamask etc.,) Do not send from exchange.
Address to send your ETH to 👉 0x9008F04Ab5B84db34fb9Ec3d8B103964D2d171E7
📌Staking Platform Launch – 1 week after presale
📌Investigating Partnerships with other DeFi Protocols – 1 month after presale
📌Automated Listing of rekt projects – 2 months after presale
For second part of the question: About what we do in case the required soft cap isn’t raised, we will do a community vote and arrange for Free airdrops and bounties to keep the platform kicking and live
2nd Segment: LIVE QUESTIONS
Q1 : Few days ago, I got a free airdrop of 10 PATEX token so I decided to participate in their presale, that was how they pulled the rug on me, now I’m REKT. How do you come to my rescue? How will you uplift me from my present condition?
Ans : Remind us to add this project to the list. I’ll look into it. And we will vote
Q2 : 1. I see Rekt is doing something similar to what DeFiat is doing. DeFiat is having 2nd token for the purpose of swapping tokens of scam projects. Is Rekt also having a second token for this purpose? And is there a specific scam projects that Rekt is helping the community on?
2. I see that the community manager post is vacant. I am interested in becoming your community manager. Am an African. Am I welcome on board to apply for the position?
Ans : We have that as our main token. We will redeem GUM, XDFI,ZAO, DEVIL. More coming
Q3 : -Why is Rekt building the foundation so that REKTR will be given to those who have been scammed?
-What are the requirements and conditions for users to receive REKTR?
Ans : You simply need to hold the token. Give us a few days. And we will airdrop you tokens. We are finalizing the list. You should Ike I. With projects that you have been scammed on.
Q4 : Is It Possible To Get rektredemption Token? How can I get it?
Ans : Yes REKTR is the token, and we are doing a presale now. Details shared earlier on chat.
Q5 : What is the most main use case of REKT Redemption?
Ans : 1. Getting free rewards for having lost money on other scam projects. 2. Hold and govern the Platform direction. 3. The token will be in demand when more people start losing money and turn to something like us to back them up.
Q6 : You organized an AMA session very rewarding and received a lot of questions related to utilities and technology, future vision, ...
So now I want to ask what do you want to receive from the community?
Most of investor just focus on the price of token in short term instead of real value of project. Can you tell us the motivation and benefits for investors to long term?
Ans : Much of the tokens will be disbursed to people other than us. I’d like to establish a platform that does good on many levels. 1. Offer redemption for the scammed. 2. Created a platform based on community needs.
Initially you can drake and earn more REKTR as well as provide liquidity. But the next steps involve major token holders deciding on a system that sustainably rewards them.
So to be clear. 10% of the ETH raised in presale gets airdropped to scammed buyers. So there’s a rebate there.
In addition a small percentage of staking rewards 5%. Get put in a wallet for disbursement to scammed projects
Q7 : Q1-How do i stake REKTR?And What are benefits to Staking Your platform?
Q2- When does staking begin?
Ans : Staking will be live on a portal within two weeks of sale, you can stake REKTR, UDST, USDC and earn rewards in REKTR. You can also stake the Uniswap LP token from the REKTR/ETH pool of Uniswap.
Q8 : How many time you lock liquidity? Can the buyer get any bonus who buy at first time?
Ans : Yes. 50% bonus until bonus pool runs out. For example. If you buy 10 tokens. You will get 15. Or 5 free
Q9 : Q1.You said REKTR will be awarded to those who have been scammed. It will be built with community in mind. But how you will verify who is really scammed?
Q2.Can Founders will hold any amouny of REKTR?
Ans : We will verify that by your wallet address, if you hold scam tokens, you redeem them against ours REKTR
Q10 : Crypto are scam day by day....what can we know ReKT is a legal project?? Have any prove or licencesor other??
Ans : We fully identify ourselves. We don’t have to do that. I can’t scam you because my career would be ruined. I’d never do that. I have more projects and companies to build! No scam here. We just want to build something self-sustaining. With your help. Of course...Feel free to connect with me on LinkedIn.
Q11 : 1)What are the advanced features of your project that makes it ahead of its competitors?
2)Can You talk about the weak point that Your project is Currently Dealing With and
how you managed to overcome it?
Ans : At the moment we are short on promotions, we are leverage several leading influencers to spread the word out
The advanced features will all be available on the staking platform.
Q12 : Can I buy on uniswap For $REKTR tokens?. Or where is list your $REKTR tokens?. I very interested For buy it... So, please answer me..
Ans : Yes we will be listing our Token on Uniswap as soon as the sale is complete
Q13 : I understand that I can do Staking with your $REKTR token ... What are the minimum and maximum of $REKTR to be able to enter your staking system? what are the benefits we can get?
Ans : There is no min and max for staking. You will be able to benefit from the farming more REKtr tokens. In the backend the farming protocol looks through different lending protocols to generate the yield for you.
Q14 : Why do people have to choose and joined #Rekt team over others? what are the advantages for us ?
Who is the biggest competitor in the field, in your opinion?
Ans : We are unique project as of now and have no competition.
Join us on our group for more discussion. Thank you :-)
Follow REKT Redemption on their platforms:
... Website: https://www.rektredemption.com
... Twitter: https://twitter.com/RedemptionRekt
... Telegram: https://t.me/rektredemption
... Medium: https://medium.com/rekt-redemption-project
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