Recapitulation of RetroWorldDeFi PROJECT AMA event held at AMA LOVERS CLUB.
Date: Saturday, 11th June, 2021
Time: 16:00 UTC
The RetroWorldDeFi PROJECT team was represented by @Elitefourlance, @Zephyrboy and @Mrbowser who judiciously shared with us detailed knowledge and information about RetroWorldDeFi PROJECT.
1st Segment: INTRODUCTION
Q1: Can you please introduce yourselves and your background, also introduce the team working on RetroWorldDeFi?
ANS: We are the Retro World team a nostalgia fuelled yield aggregator and optimisation platform pushing the boundaries of traditional DeFi ecosystems
Our offering includes farming, staking , R-Vaults (for LP token optimisation) , Gaming and NFT Rewards
Which are all underpinned by our smart routing feature R-Adaptive
We have chosen to base our UI/UX on a retro gaming/windows 98 theme as we all have an under lying passion for Retro Gaming
I personally have a background in design and marketing. I have been involved in crypto for a few years now but never pursued my own project. Last year myself and @DrKong teamed up and started the early development on the retro world project you see today.
We hope you like it.
Q2: We have four teammate in the house today so I believe the RetroWorld team will be large.
Please tell the community about your team!
ANS: Yes our team is very diverse, we have experts in solidity, nodeJS and web3.0 such as myself
Creative digital marketing , ecosystem integrity and security , community moderators and 3 more members of the back-end development team. Our team is constantly growing and including some of the greatest and innovative minds in the crypto space.
Q3: Can you introduce RetroWorldDeFi, what critical problems does it solve that existing solutions are not solving and what's the competitive advantage?
ANS: We began development of the Ecosystem in the final quarter of 2020, with a goal to tackle the traditional issues faced by many major players in the yield-optimisation and aggregation sector
the first step was to address the supply side issue relating to block emissions and reward distributions : hence we separated the lead and farming token (Retro & Gold) to ensure that value accrual and deflationary metrics became a core element of our test-runs
Secondary: reward attractiveness and diminishing returns of farming activities — addressed by R-Adaptives smart block emissions controls
Thirdly : Token Dilution is tackled by separating the lead token with DAO features and staking rewards from the farming token. Whilst also providing additional utility by enabling you to earn our farming token with the Lead.
Q4: Can you briefly describe the top milestones you have achieved and your target milestones with timelines, also share your roadmap?
ANS: Our first milestone was connecting our UI to our back end. We had been operating on the Test Net prior to this as we were optimising our R-Adaptive. To get this fully functional on the Mainet was indeed revolutionary and must be mentioned.
I can give you an insight to the near future.
We are currently having our secondary full audit with CertiK and hope for completion toward the end of this month. Alongside this we are also in the process of releasing our R vaults on the Mainet platform.
The R Vaults will allow members to deposit LP tokens to get enhanced APYs with our R Adaptive enhancement feature, this can be up to a 3x. We are very excited for the full release of this feature again scheduled for the end of the month
We are currently in the genesis stages of our platform. Meaning, our private sale rounds are well underway and going good. We are participating in multiple marketing options such as AMAs and other partnerships.
Once this has concluded we will list on pancake swap and have our official launch. The time line for this is estimated just over 3 weeks.
Post launch, we will be activating the Retro Gaming League and opening our Gallery with our first NFT exclusive collection.
Q5: Can you briefly describe your PARTNERSHIPS so far?
ANS: Yes, we have fostered a good partnership with several communities and important blockchain entities
The first and most important of these is with our auditors who will carry out continued work with our ecosystem to ensure its security : TechRate & Certik
We are also in talks with Beefy finance to have an optinisation vault for one of our dual tokens to bridge liquidity and a number of strategic market partners such as Bsc News, CryptoNesia , theblockcircle , Bscdaily , GemCollectors and many more
We will continue to form strategic partners to help the development of the ecosystem long term.
Q6: To round up this segment, Can you give an overview of your Tokenomics, and the UTILITY of the $RETRO Token?
ANS: Yes sure, Dual Tokens : the farming token being separated from the lead token allows for two different streams of behavioural opportunity costs to develop
Individuals face the direct choice to continue farming in one platform or choose another , hence directly effecting the pricing schedule of the native farming token
By having a separate utility and DAO token, ecosystem participants can for example maintain their utility access via holding and staking with Retro
H2. In terms of our farming token, GOLD is very intuitive and it interacts directly with our masterchef contract
To synonymously control it’s A. Block emissions rate and B. Circ supply ( via automatic burns) upon transactions which are carried out on-chain
our farming token as the process is carried out in real-time on chain throughout the farming, staking and even optimisation process — importantly this also ties into R-Adaptive block emissions controls
If the lead contract detects an environment that the supply of GOLD is increasing at an excessive rate , it will make a smart mapping call to the Lead Contract and reduce the block emissions.
Q7: So RetroWorldDeFi operates a 2 token ecosystem, $RETRO and $GOLD?
GOLD is the reward for farming RETRO?
ANS: That is correct ✅
GOLD named after the rewards Super Mario got during game play
Yes in this manner we can separate the economic issues of token solution
Whilst ensuring value accrual to the lead token with its multi utility
It is also protected against dilution by the removal of block emissions scheduled.
2nd Segment: LIVE Questions
Q1: Q) How do you propose to encourage people to farm on Retro with their cake tokens besides the obviously high APY ? What are your marketing plans?
ANS: We have extensive marketing plans for our vaults including partnerships with leading BSC projects and promotional deposit periods
We will offer industry leading yields , low or no deposit fees and the lowest performance fee deduction of any protocol.
Q2: Retro World is a great project. It offer some great feature. But crypto is all about popularity. So how Retro World intend to gain the popularity? What Retro World has to create the hipe?
ANS: Yes Crypto is all about popularity, however we believe that focusing solely on rewards and charts can be lonely and de motivating at times.
Retro World brings the gaming aspect that allows the spirit in our community to grow far more than you would on your average yield farm.
Competitiveness breeds conversation and this causes a buzz around the project that we anticipate to catch on.
Q3: in regards to your Arcade games will all games be rewarded the same for highs scores? Thanks in advance!
ANS: Let me explain the Retro Gaming league reward system.
We are planning to vary rewards each week and have bonus rewards for a particular game each week.
One week it might be Super Mario that gets the 2x prize and the next week it might be Donkey Kong.
This is too change things up and so members don’t get attached to one game solely and there are incentives to play another.
The regular rewards for highest scores will still be on going however.
Nice question, hope to see you in the Arcade.
Q4: What about holders and stackers in Retro World Project? Do the team of this project have any plan of holders that how they will beneficial, what features will be provided for them?
ANS: Holders will have a multitude of utility from holding the retro token
1. Staking rewards
2.multi-chain bridging access
3. NFT minting access in the gallery
4. Reward distribution from platform fees.
Q5: I like to be in whitelisted. But the time was finished. I just missed this. So I want to buy some $RETRO token for now and hold those for long time. Where i will be able to buy this token?
ANS: The whitelist private sale has closed and we are at the final stages, however you will be able purchase on our public presale via our dApp.
Q6: With the issues faced by many major players in the yield-optimisation and aggregation sector,how do you intend to tackle the case of block emissions?
ANS: The issue of block emissions is tackled by R-Adaptive
Our smart routing and emission control mechanism built into our lead masterchef contract
It actively controls the emission rate dependant on the circulating supply of GOLD and the attractiveness of rewards in the ecosystem.
Q7: Gaming projects always gain a reputation faster than any other project just for their concept...$RETRO gaming concept is very unique... $RETRO games will bring back the memories of childhood,its really outstanding...however will $RETRO game really be able to bring back the memories of our childhood ??Or will the project be ruined in the middle of the road?
ANS: In the development of Retro World, we thought, what could bring the community closer together ? Sometimes rewards and tokens can feel very empty, especially when Elon puts out a tweet and the markets fall.
We are both passionate gamers, but reminisced on better times when gaming was simpler and stripped to pure tenacity and skill. Retro gaming brings the people together and sparks conversations. What were you doing when you first played Mario Kart ? Who was your favourite street fighter character ?
At Retro World we want to being this feeling back and this is why we have built the Retro Gaming League. The community can face of for high scores each week on our platform, this will create a spirit that just cannot be matched by watching individual rewards compile in our pools.
Q8: ⚠️ I saw that there is this "Gallery" part on your website that says coming soon, is there any more information about it you can share with us? Will this be related to NFTs as they are really popular right now? Will we be able to have Retro inspired NFTs thanks to RetroWorld?
ANS: The gallery as the name states is the home of our Retro World artwork, namely NFTs.
We have been working closely with industry leading designers and artists, some of which I personally studied with to immortalise some of the most nostalgic images in Retro Gaming forever on the block chain.
Our first range of 2D and 3D NFTs will be in our N64 Collection and you can only guess what types of fun characters you will be seeing there.
As stated earlier the gallery will put forward NFT rewards for the Retro Gaming League.
Q9: ⭐ Could you explain to us step by step how to participate in your presale or do you have an informative guide that you can share with us? And with respect to your pre-sale, do you have a purchase limit and what is the period of time in which the pre-sale will be available? https://twitter.com/MaraR69414706/status/1402938930215985152?s=19
ANS: You can access our presale via our Retro Launchpad at Presale.Retroworld.io
Please ensure you use DAPPbrowser.
Sustainability is one of our core values and we have spent extensive time in the planning phase to ensure our ecosystem grows and develops at a progressive and continual rates.
One factor is dependent on the technological offering of the protocol.
To this end we have deployed on main net a fully functional farming, staking and DEX/SWAP ready for global usage.
By the end of June our smart optimisation vaults will be part of our ecosystem as an additional dApp that will enable users to stake their favourite LP tokens to earn boosted APY/APR via R-adaptive.
For example, we know many people hold Cake. You will be able to stake your cake LP In our vaults and earn up to a 3x multiple annual yield in comparison to staking on pancake swap itself, this will be the same for BUNNY/AUTO and many other popular Bsc projects that would like to use our vaults.
This is similar to beefy finance/ Ape Swap.
We also know how important NFTs are and immortalising real world assets in the blockchain. We have the GALLERY feature on our UI that will showcase our own designs and we are working with industry leading partners and artsiest to ensure our selection of both 2D and 3D NFTs have a real long term value proposition.
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