Recapitulation of RugZombie PROJECT AMA event held at AMA LOVERS CLUB.
Date: Friday, 11th June, 2021
Time: 14:00 UTC
The RugZombie PROJECT team was represented by @Emperor_zombietine, @Nn_mss and @Gorilla_Fi who judiciously shared with us detailed knowledge and information about RugZombie PROJECT.
1st Segment: INTRODUCTION
Q1: Can you please introduce yourselves and your background, also introduce the team working on RugZombie?
ANS: sure, ill go first here, and let nams and silverback respond next
Hi, I’m Emperor Zombietine (EZ for short). My background was in public education and the non-profit sector. This part of my life is where I developed a love for restoration and resurrection as most of my charity efforts were focused on restorative projects. I also do a lot in the VC (venture capital) world and buy and sell businesses as a hobby. I got into crypto in 2017 because my neighbor at the time was a huge BTC whale. I have since become enamored by the possibilities and technological advances that blockchain and crypto bring to the world.
Obviously from my background you can tell that I began as a non-technical founder, and I am always learning all I can about full stack blockchain development, or at least enough to know what I am looking for and what I am talking about. I stand on the shoulders of giants though with @Gorilla_Fi and @nn_mss . They are the mad scientists here with the developer expertise.
Hi everyone, I’m Silverback. I’m a licensed corporate attorney in the US and have been in crypto since 2016. Since 2016, I have helped with various projects such as ZClassic and Beaxy. But as of a few months ago I started GorillaFi.com and RugWarnings.com. RugZombie will be my third crypto project.
I’m the main dev for the project. I have a strong background in comp sci and about spent about 4 years in the industry working on search engines, payment systems and production engineering. I joined the project a few months back looking to work on something thats not your average yield farm and its been history since.
Q2: Can you introduce RugZombie, what critical problems does it solve that existing solutions are not solving and what's the competitive advantage?
ANS: Sure. We ALL are well aware of the proliferation of rug pulls and scams. Defi basically invites this due to its permissionless and open source nature . Because anyone can deploy code (copy + paste) and (especially on BSC) the barrier to entry is quite low, scams and hacks are going to remain an issue.
RugZombie’s thesis is about restoring value to victims of these scams and exploits in some unique ways (both tokenomically and on a fundamental level). We hope to provide some catharsis and entertainment along the way, and our hope is for victims to recover value over time.
Essentially, if you have been rugged/exploited by known scams, you will be able to use that rugged token in our GRAVES which are similiar to a single asset staking pool. You earn a yield in our token
(like most other YF tokens) and in addition you will receive a custom NFT related to that specificic hack or rug. The artwork is zombified/undead themed. In essence, our graves allow you to earn both a yield and a custom NFT. I can send examples of some of our artists’ work. It’s fantastic by the way. We have a wide array of artists we are work with.
Another feature that I will let silverback explain if he can make the call are our TOMBS. TOMBS are essentially LP pairings with specific rugged tokens. (there will be tons of questions about this I am sure).
I will answer about competitive advantage after @Gorilla_Fi explains the TOMBS.
When I created Gorilla-Fi, I began looking at liquidity a bit differently. 99% of all projects on BSC are paired with BNB and 99% of all projects on Uniswap are paired with ETH. But why? Reason being people think that is all they can do. However, I thought outside the box and when I created Gorilla-Fi, I created its liquidity with $CAKE. That pairing was very powerful and as $CAKE went from $10 to $44 Gorilla-Fi mooned with it. Now, with RugZombie I want to go further and create liquidity for our native Zombie token and rugged tokens. Essentially, Zombie will be paired with and have liquidity with several rugged tokens overtime, creating a web of unique liquidity pairs. As people buy rugged tokens to stake in our TOMBS we will essentially be bringing rugged and dead projects back from the dead. Hence, RugZombie.
As far as the current existing solutions and how we have an advantage related to scams/hacks, we do have a competitive advantage because what we are offering is post-exploit/scam opportunities to resurrect value, which no one else is focusing on.
A few of the current attempts to clean up defi are:
Project Incubators - The hope is to give trust by proxy of another more trusted project.
Insurance Protocols- This a relatively underdeveloped idea still and we are curious to see where it goes. As it stands, insurance protocols are attempting to allow users be compensated or to de-risk financial investments, but this space is still growing.
Decentralized Service Level Agreements - Similar/same to insurance, not widely used and is still a bit too technical and early to be meaningful.
The problem with all these services (which we love and think will help clean up defi) is that they cannot prevent a hack or scam from happening. And they are all about de-risking investors from the event of a hack. Most rug-pullers will avoid these, or find creative ways to work around them. But what about after someone has been rugged?
You can have fire insurance for your home but this does not prevent a fire from happening. No matter the due diligence people do in defi and new projects, scams remain a risk. We see ourselves as the clean up crew for Defi and for the BSC specifically. Our solution comes after the fact, not before it.
The way we help to "clean up” and restore value is as mentioned above, in our graves and tombs. Our tokenomics help to restore investor value and our NFTs are going to become increasingly desirable for a number of use cases.
Our NFTs will have use cases beyond art.
Q3: Is GRAVE different from TOMB?
Seems i have come across those two words on RugZombie!
ANS: Yes. these are our cheeky ways of saying pools and farms.
GRAVES are more akin to single asset staking pools, while TOMBS are LP pairings with rugged tokens.
TOMBS will essential be what you know as "Farms". They are liquidity pools for zombie and rugged tokens, and while the user stakes they will earn a zombie yield.
Graves will reward users with nft's for staking their Zombie Token. The Tombs will be pools paired with bnb and potentially rugged tokens that we've specifically chosen.
Q4: Can you briefly describe the top milestones you have achieved and your target milestones with timelines, also share your roadmap?
ANS: Of course. Yea. So far, our top milestones is getting our audit sent to techrate and beginning our social campaign, as well as accumulating our NFTs that we need.
Most of our backend is complete and will be sent EOD today for tech rate audit which is a big deal. Our UX/UI is being worked out by end of weekend, and then we focus on integrations.
We hope to launch in June, however we are more focused on making sure our project is right rather than fast so it could be as late as July. We have seen projects get in trouble for overpromising on dates and deliverables, we want to get it right not get it fast.
We will release the contract address and ticker for review for the community before launch and will update our community, but currently are waiting to get backend squeaky clean from the audit before public release of that information and getting a solid launch date. It is coming soon however, so our community won’t be waiting around indefinitely.
Part of the reason we are doing some initial marketing (including this AMA) is we think there is a lot of need for what we do, and some opportunities, we have our eyes set on the MVB program with Binance, and once our project is deployed we will be applying there. A strong, vibrant and healthy community is a factor in those kinds of programs.
Our initial launch is a huge deal and milestone. We will deploy with our Dapp ready and usable, with unique NFTs ready to go. After launch we are releasing some cool features that we will be a bit coy about right now 🙂 but I will share one, because we are about 90% done with the backend of it.
We have an Auction feature (name pending) where we will be releasing certain one of a kind NFTs in an IFO style auction. This will help us manually burn supply and this is a community funded way of contributing to marketing. A lot of new projects raise marketing funds either through IFO or I have even seen them open marketing wallets for community contributions.
We wanted to do something fun to raise specific funds for marketing, but instead of just asking for money, or doing an IFO, this auction gives value back to our users in a fun way that fits our narrative and use case, so everyone benefits.
Another feature I will tease are our Multiplier Graves…all I can say is you are going to want to stake our token for the long haul. There will be some gravely exciting things for long term holders. 🙂
We have some other features we are keeping under wraps that involve our NFTs.
Lastly, we will always be adding new GRAVES and TOMBS as we have the treasury funds to do so.
Those are just our Q3 plans.
We will also have SPAWNING POOLS where Zombie token holders can stake their Zombie to earn free tokens. I am donating $GFI from my Gorilla-Fi project for the first SPAWNING POOL.
Q5: The website seems not to be active yet. When do you plan to launch the platform?
ANS: We had originally aimed for a mid-june launch. However, we want to get things right on the backend. We are hoping for July 4th as the latest possible. Once the audit comes back, the focus is really integrating the back and front end and then launch. I would have loved to launch yesterday but obviously we need to keep te focus on safety and security
It will hopefully be somewhere between today and July 4th. I don't see any reason currently why it would be later than that date, probably much earlier, but I hesitate to make promises we can't keep.
July 4th for us was more of security blanket that we can say that date without getting in trouble 🙂 would you say the same @Gorilla_Fi?
Q6: Can you briefly describe your PARTNERSHIPS so far?
ANS: of course, The first is our experimental colab with autoshark.finance.
After their release, they were exploited by a flash loan attack, and it quickly tanked the supply. They are not a rug pull (that we know of) and seem to be doing everything they can to restore investor confidence and value.
The autoshark team deployed a placeholder token to their affected legacy holders called “zSHARK” that we are going to use to open a custom GRAVE for their users to earn an NFT for a limited time.
We planned to use their original token, $SHARK, but didn’t want to inversely benefit the hacker through doing so, as that person(s) hold a majority of the supply. And on top of that, their original token $SHARK only has a few holders currently as most users dumped their supply.
The deposit fees that we collect from those NFT GRAVES we will give 50% to autoshark team to redistribute to their community as they see fit in accordance with their compensation efforts, and the other 50% we will be burning our token.
I think it is also fair to say we are also in talks with euler tools about some ways to mutually support one another’s efforts, although these are just discussions right now. They have a massive amount of data for BSC and can really help us identify rugs well.
We also consider all our artists as partners on this project of cleaning up defi, and would encourage this community to show them some love. Many of them are on twitter, and we will be posting some artist spotlights on our socials to support their art and NFT platforms.
deadlast.ca is one of our guys working on the autoshark NFT. Also, @Jussjoshinduh is one of our go to guys and just finished a pretty awesome NFT for us. Thanks bud.
Q7: Can you give an overview of your Tokenomics, and the UTILITY of the $ZMBE Token? Is the token ticker correct?
ANS: Of course. We have not released our ticker or contract yet, so be wary of scams and copycats.
Let’s get tokenomics out of the way. We have a 100mil initial supply, 10% of that is time locked in our investor/founders wallet. Another 10% in a time locked multisig treasury. This amount relative to the total supply will of course diminish as emission rates kick off.
The rest of the supply goes straight to locked LP upon launch, which our dev team is providing the liquidity for. We thought this would be a show of trust as we had to put our own money into the project to begin with in a time locked LP.
As it is a yield farming contract, we do have an emission, but our emission rate is 10/block which is incredibly low comparatively to other farming platforms. We would rather need to increase the emission rate to attract liquidity than face runaway inflation because we set our emission rate too high at the start.
We have some automatic burn features (in our deposit fees) and of course have the ability to manually do this, which we plan to implement a ton through a variety of features, including our auction that I had mentioned above.
concerning emissions, panther for instance has 75 per block, cake (I think) is 40 right now? it may be 20 as they just did a reduction, I don't remember off the top of my head.
But Utility is the thing I am most excited for.
Our NFTs not only provide a fun and cathartic way to memorialize your participation in a crappy event (a rug pull), they are going to be pivotal in our gaming ecosystem that we are developing and will have some other sneaky uses along the way, including a secondary market, merchandise and some other features. We are kind of mum on those features at the moment because we would rather underpromise and overdeliver.
But the big one you can be thinking about is gaming. Each unique NFT will have value in our gaming ecosystem. If you have ever played games like MTG or Hearthstone, you will have an idea of what we are trying to do.
@Gorilla_Fi @nn_mss did I miss something or mispeak there?
Yep, i'm addition to deposit fees being used to buyback and burn $ZMBE. Graves will have 5% early withdrawal fees that will either burn $ZMBE or add to locked liquidity depending on the situation. Though we're minting tokens each block we're working on many features to reduce emmisions
Folks, be wary as our contract is not deployed yet, so anything you may see before we public release that is probably a scam. wait for the official contract address 🙂
EDIT: it IS a scam not probably. always check contract address from multiple sources.
2nd Segment: LIVE Questions
Q1: you made mention of focusing on the utilities of your token rather than marketing. please what are or what will be the utilities of rug token that will encourage holding and increase the value in the long run
ANS: This is a great question. I think the primary utility of NFTs currently is for art collectors and appreciators. However we plan to use our NFTs in our gaming ecosystem. Imagine your cool Zombie NFT has abilities in a game later on. you can build strategies around different types of features and characters.
Q2: You keep mentioning DeFi100 on your Twitter page and that users who got rugged by @DEFI100 should come and commiserate with you and earn a custom NFT. How about users who got rugged by other projects apart from DEFI100? And who are those users eligible for the RugZombie Airdrops?
ANS: Of course we plan to offer more than just for D100. Our list of initial graves is here: https://rugzombie.medium.com/initial-grave-offerings-our-first-pools-6cbbbad2a62e?source=your_stories_page-------------------------------------
Our airdrop contests are social contests. Anyone can participate. We will drop the airdrop link after the AMA closes so everyone can see it.
Q3: You Tweet that 'One of our community Undertaker‘s mistakenly “metered“ our recent posts on medium. He’s dead to us now". What does this mean, isn't it scary to use this term. Kindly clarify for the sake of us newbies that are keenly following your project ?
ANS: just a bit of morbid humor 🙂 I was the one who metered the post accidentally....and I posted that tweet on twitter. Forgive us for having a darker shade of humor 🙂
Q4: Why RugZombie is committed to cleaning up defi and becoming the deadicated BSC clean up crew?
Do the team already think what problems will come for doing this and do the have the solution for those problems?
ANS: in short, we have put a ton of thought into the complexities of the issue. we are always open to feedback, but we are doing our homework.
Q5: Being able to determine that a DeFi project is malicious or a scam is difficult for many users within the DeFi world, therefore I would like to know how simple and useful the interface of the project is so that many users can adopt it and protect themselves from the scams that currently predominate in the crypto world?
ANS: Thanks for the great question. One of the big partnerships that we failed to mention earlier is with RugWarnings.com. RugWarnings.com is an effort to bring the DeFi community together to discuss and identify rugs (hopefully before they happen). There are so many new projects and rugs popping up all the time that it is too big of a task for a small team to identify everything. That is why we need to rely on the community and our partnership with RugWarnings.com.
yea sorry bro, I thought it was clear since you were involved in that one. Huge benefit to us is having that one going.
Q6: Many crypto projects use social media influencers as a marketing technique and give them a lot of project tokens. When these people are listed, they put immediate selling pressure on the token.
Could you tell us about Rugzombie's strategy in this regard?
ANS: Yes we actually answered this one here: in short, we agree and do not have plans to do any social influencer sponsorships currently
Q7: Your idea seems really great and essential due to the current crypto situation with alots of scam coins...im interested to your project and i want to understand the strategy that you will follow to select rugged and scam tokens...also if users can help finding some scam projects?
So I actually created a graphic to help people see at a basic level how we will identify and process rug pulls to list in our graves and tombs
Q8: Rugzombie wants to launch war on rugs and clean the Defi space. That is commendable. But for community trust, please list out the credible auditing firms that have worked on your contract. Can we have access to confirm.. we don't want to trust blindly and get played.
ANS: We will be sending our contracts to TechRate soon to be audited before launch and have plans to be audited by CertiK after launch.
Q9: I have been a victim of so many rug pulls,ranging from presale that didn't get listed to projects that dumped upon listing and so on. So how can I still recover my loss funds with Rugzombie? Do you accept all kinds of rugpull tokens regardless of the chains it on?
ANS: We are currently only on BSC (the barrier to entry for scammers is low) but have discussed moving cross chain before. We were offered a grant on the harmony ONE blockchain, but there are simply not enough users there nor enough hacks for it to really make sense for us to be there now. We are trying to restore value to victims. And most of those victims live on the BSC.
Q10: When I visit your website I couldn't get any information about about Rug zombie all I see is "SOMETHING IS COMING".
Before investors can consider this project we will like to know the STRENGTH and WEAKNESS of this project. What makes you better and unique and where do you face problems as well how you do plan solving it. Is your SECURITY STRONG any AUDITs.? And pls share your links
ANS: Yes so our website was initially live but connected to the bsc testnet. People kept asking why their wallets wouldn’t connect so we replaced it with the “Somethings coming” teaser for now. Regarding security, we’re sending our code in for a tech rate audit today and will get more audits as the project progresses. Our code has also forgone thorough unit and integration testing which will be visible on our GitHub repo once we make it public. I think a strength of the project is that it's unique and our focus is bringing value to the community, a potential weakness could be too much ambition, we have a lot planned.
Q11: We will be sending our contracts to TechRate soon to be audited before launch and have plans to be audited by CertiK after launch.
ANS: hopefully you guys will become a part of our community and help us win the MVB program so we can get that certik audit on Binance's dime 🙂
In relation to an article in your medium, where you explain that after 30 days of continuous betting, I will be able to mint and claim my personalized NFT, I have the following doubt, will I have custody and full power over that NFT or "RUG ZOMBIE" will have any power over it?
ANS: Quick answer: once you mint the NFT it is yours like every other asset in your wallet
Q13: Honestly, I think they're lots of complexities that come into play in trying to use dead/almost dead tokens to redeem value. However, I believe that RugZombie team has done the necessary research and are taking the proper precaution in selecting projects for the TOMB. Nevertheless, I'm inquisitive about the selection process criteria. I mean, what criteria is used to select projects that'll feature in the RugZombie TOMB?
How can people who have not been victims of rugpull support and participate in long-term growth of the RugZombie project?
ANS: We answered the first question above, but regarding those who have not been scammed, we will have zombie staking pools and our LP (TOMBS) will be available to holders of BNB and our token, so there are defintely opportunties. We also will have a secondary market eventually so you can buy and sell and trade your NFTs if you really want one that is of interest to you.
Q14: Can give examples of the kind of tokens you classify as scammed/rugged tokens that RugZombie lists in their Tomb?
ANS: Here is one: https://rugwarnings.com/gorilla-yield-yape/
Q15: two token system is $ZMBE project,its really good...Not all projects can have two tokens, as we all know..so its a great achievement for $ZMBE....Understood all, but did not understand one thing...what is the connection Between DeFi100 and $ZMBE project??what is the relationship with getting NFT by DeFi100????
ANS: we have no connection to this team or project. We identified it as a rug pull and are trying now to restore some value to victims through offering an NFT if you hold their token.
Ok @hon_aim I believe we are at the 1 hour mark. And tried to answer enough questions to satisfy the curious 🙂
Once last mention is that we do have 2 airdrop contests happening right now, which you can see the details on twitter or our linktree here: https://linktr.ee/rugzombie
Follow Us On Our Various Social Media Communities For More Update;
Of course. Our linktree is here: https://linktr.ee/rugzombie
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