Recap AMA Session Single Finance X ZTH Crypto
Let’s go ZTH x Single Finance AMA get started❗️
⚠️ Don’t Panic! You are not in ban chat is muted for 𝗔𝗠𝗔.
During the 𝗔𝗠𝗔, we will often close the chat feature to smooth the question and answer session.
AMA Guidelines:
— 𝗦𝗲𝗴𝗺𝗲𝗻𝘁 1: Introduction
— 𝗦𝗲𝗴𝗺𝗲𝗻𝘁 2: Twitter Question, Team will choose 5 Question on Twitter.
— 𝗦𝗲𝗴𝗺𝗲𝗻𝘁 3: Live 𝗔𝗠𝗔, In last selection, We open a chat in our group so that the community can ask questions directly. Our guests then select and answer the 5 best questions in it.
🎁 Total rewards quantity will be $100, have fun!
Segment 1 : Introduction
WHALERUSH | ZTH Team : Hello everyone and welcome to Zero to Hero Crypto , Thanks for taking the time for today’s AMA session!
We will host AMA today !!! Hello Kenny Denton Jr
Kenny Denton Jr : hello everyone~!~!
WHALERUSH | ZTH Team: How are you feel today ?
Kenny Denton Jr : can’t be better my friends! yoho!!!!
WHALERUSH | ZTH Team: So let’s move to segment 1
Can you introduce yourself to the community? What is your background and how did you Single Finance build ?
Kenny Denton Jr : Sure ! So everyone I am Kenny, the Chief Farming Officer of Single Finance. I come from a investment bank background and started crypto trading in 2015, at the time when BTC was cheap, you know it.
We build Single Finance for a very simple purpose, because we think there are a lot of basic and cool features from the traditional financal world should be brought to the DeFi world. So we just do it, and we are here
👍
WHALERUSH | ZTH Team : I’m sure you have a lot of btc now xD
what is the use-case of the Single Finance ?
Kenny Denton Jr: Our platform is a leveraged yield farming platform and it’s the first one on Cronos, backed by Crypto.com. just like other LYF platform, we help on providing liquidity to different assets and allow users to earn yield. ofcos we have lots of killer features that I will explain more soon later
👍👍👍
WHALERUSH | ZTH Team : LFGGGGGGGGGG! What killer features has Single Finance that are ahead of the competition ?
Kenny Denton Jr: You have to remember these 3 things from us, which will bring us to the moon. there is nothing similar in other platform, only us and we are the FIRST!
Single Click Pseudo Market-Neutral Strategy to minimize impermanent loss
Single Finance is bringing a human-centric, ultra user-friendly experience and capital protection to DeFi, helping everyone earn more money with an ease of mind. The primary goals of both new and experienced farmers are simple: to earn high yields without suffering too much impermanent loss or being liquidated in a flash. Single Finance users can simply supply assets and enjoy our pseudo market-neutral liquidity mining strategy with just a single click.
Marked-to-USD Capital Protection Bot
The best thing about Single Finance is that everything is marked to USD. Not only is APY worked out in USD, our capital protection mechanism is based on your initial investment principal valued in USD. Therefore, Single Finance strategy users won’t lose more than 15% of their capital in USD, as their capital is protected by a stop-loss bot and a rebalancing bot. Just pick your favourite liquidity pairs and leverage exposure on Single Finance, and our bots will handle the rest to keep your capital safe and your sleeps tight.
Liquidity Pool Time Machine
This groundbreaking feature provides real return performance data, including trading fees, DEX yields and price impact, to help users pick their winning pairs. Time Machine also allows users to compare the performance between farming a liquidity pair versus farming the non-stablecoin asset of the same liquidity pair.
👍
WHALERUSH | ZTH Team: Fantastic 💃 Trust and security is very important in any business , what makes investors , customer and users safe secure when working with Single Finance ?
Kenny Denton Jr: this is very very important to everyone. We have aduited by Certik and the audit is completed yesterday. Soon you can see the report on their site. Moreover we plan to get another audit report as well, and we will update the fans soon. 👍
WHALERUSH | ZTH Team: Amazing ! audit by certik 👀
What marketing strategies has the team decided to use to spread awareness and promote growth and use of the Single Finance ?
Kenny Denton Jr: we are new, we need more ppl to know us. that’s why I am here to ans questions from you guys. community engagement is very important. Other than this we have built 4 channels in TG to stay close to our fans, so if you haven’t joined our TG, do it now.
we have also invested a lot in PR and KOL who are somehow our effective channels to promote us too!
In the future, we may introduce a referral program to allow you to refer friends to use our platform and earn SINGLE, stay tuned!
WHALERUSH | ZTH Team: Nice! Lets go into the Tokenomics of the native Token and what are some of it’s usecases ? As well as how someone would obtain the Token ?
Kenny Denton Jr :
Total supply of SINGLE tokens is 1,000,000,000 (1 billion).
Mining (400,000,000, minted per block and vested within 3 years) — Rewards for lending and leveraged yield farming
Partnership and Ecosystem (223,000,000, minted per block and vested within 2 years) — Pays strategic expenses including listing fees, audits, extra rewards for ecosystem and partners, marketing fee, etc.
Team (220,000,000, minted per block and vested within 2 years) — Supports continuous development
Liquidity Pool (20,000,000, minted at TGE) — Reserves for expanding liquidity pairs in different AMMs/DEXs
Community & Seed (117,000,000, minted at TGE and vested per quarter linearly within 1 year) — Provides initial liquidity and bootstrap fees
Advisors (20,000,000, minted at TGE and vested per quarter linearly within 2 years) — Rewards for advice from our advisors
7. “Can you talk about the utilities of the SINGLE token? Why should one invest and hold it long term? What are the features that would interest the user? What role does your token play in the ecosystem?” From @capcosmos
The SINGLE token four main utilities:
Decrease the performance fees paid to Single Finance Lab.
Increase the mining rewards.
Access exclusive Single-click strategies that provide higher returns and lower risks. Claim our exclusive NFT in a limited period. you can earn SINGLE by staking SINGLE, just like other LYF platform. also you can buy SINGLE from different CEX and DEX, details are posted on twitter and TG
WHALERUSH | ZTH Team: What are the major plans ahead?
Kenny Denton Jr :
Q4 2021
Submit smart contract codes to Certik for security audit
Deploy MVP on Cronos and Avalanche Fuji testnet
Complete user interface for single-click strategy
Develop cross-chain support for token contracts and core minting logic
Build our own index nodes and develop the core logic of LP Time Machine
Q1 2022
Launch LP Time Machine with chain data of Cronos and Avalanche
SINGLE token launch
IGO on VVS.finance
CEX-MEXC listing (TBC)
Launch single-asset lending and staking vaults for CRO, VVS, USDT, and USDC
Launch a pseudo market-neutral strategy for CRO/USDC, VVS/USDC, VVS/USDT, and SINGLE/USDC
Complete audit with Certik
Launch a single-click strategy on Avalanche
Q2 2022
LP Time Machine: Ethereum and Binance Smart Chain chain data support
Additional CEX listing
Integrate with additional DEXs to support single-click strategy on new pools
Launch cross-chain bridge
Launch manual re-balancing feature for single-click strategy
Partner with more protocols to expand our ecosystem
Q3 2022
Launch dashboard for portfolio analysis
Launch single-click strategy on more chains
Introduce auto-balancing feature for single-click strategy
Additional CEX listing
Integrate with additional DEXs to support single-click strategy on new pools
Q4 2022
Implement Governance
Integrate insurance coverage
Implement cross-chain single-click strategy
Introduce more market-neutral strategies
Integrate with additional DEXs to support single-click strategy on new pools
several things I want to highlight,
first we will support more chain in the future and probably be listed on more CEX, probably Crypto.com, who knows.
more partnerships will also be announced soon so you will see us grow with other platforms
👍
WHALERUSH | ZTH Team: Great ! major plan 🔥🔥🔥🔥🔥🔥
Lastly Does the team have a roadmap in place ? and if so , how has it been kept up with so far ?
Kenny Denton Jr: As I have mentioned above, the roadmap is shown. We have put a lot and will be more resources on partership especially with other DEX in different chains. Also, the LP time machine is the key things we will keep building and you will notice frequent update of this particular product. this will help us to draw lots of traffic from other platform and hence bring more focus to us!
WHALERUSH | ZTH Team : Great thank you for answering questions from segment 1
Some introductory question have already been answered and we will enter segment 2 and 5 best question comes from the twitter.
Are you ready ?
Kenny Denton Jr : sure
Segment 2 : Twitter Question
Q1 : Do the token holders have right to the participate in the governance of the project? On what kind of decisions can they vote on about the project ?
Kenny Denton Jr : ok, at this stage, it’s a NO. But we have a plan to invite our users for a short interview on a regular basis so that we can listen to them directly for future improvements.👍
Q2 : Nearly 80% of investors only focus on short-term token price instead of understanding the real value of the project. Can you tell us the motivations and benefits for investors to hold your tokens in the long term?
Kenny Denton Jr : I cannot judge the percentage of your question. But you must agree that if they product is developing in the right direction, the token price must increase. if you had a chance to really understand the features, you will notice the main features are all new yet important in DeFi. with that, I believe this is the right direction we are heading to.
not to talk about staking our token can increase minning rewards and so, these are the basics, right?
Q3 : can you explain about staking and mining reward ? how much APY will you get
Kenny Denton Jr : well it depends on the lots of elements, but you must know that the initial APY will be crazily high just after the launch, so you must stay tuned to know our launch date
by staking our token to earn SINGLE is the most effective way to get you to the moon!
Q4 : Most of users are still not aware with Blockchain & its related projects ! So, How Your Project platform create awareness about their project with NON-CRYPTO users too?
Kenny Denton Jr : so it takes time for outsiders to step into DeFi space. We will strengthen the educational part to attract more user like providing tutorial vdo on DeFi 101 using our own resources. So users will slowly absorb the concept and be directed to us at the first stage. this is something we will try in the near future.
Q5 : Can you tell us what makes your project unique compared to other staking, DEXs,Lending and Borrowing Platforms out there?
Kenny Denton Jr: as I have metioned before,
Single Click Pseudo Market-Neutral Strategy to minimize impermanent loss
Marked-to-USD Capital Protection Bot
Liquidity Pool Time Machine
market neutral strategy is not a new science in the world but it’s missing in a lot of Defi playforms, and now we are helping you to complete the steps in Single Click.
showing your position size in USD eliminate lots of misleading, new to DeFi world as well
Time machine is a very very important things for investors to judge a pair of assets before investing, you can feel the power of it after our launch, trust me, you. will like it.👍
WHALERUSH | ZTH Team: Single Finance good product !
All Question on segment 2 have been answered, It’s wonderful thanks you!
We will continue segment 3 ❗️
Everyone please prepare your questions, chat will be opened for Telegram Segment
Kenny Denton Jr : Thank you
Segment 3 : Live AMA Session
Q1 : Recently we were shock by a rug pulled and exit scam project. What is the guarantee for potential investors here, that Single Finance will not take that action?
Kenny Denton Jr : thank you for your question and I am sorry to hear that. I think your worry on our project is not necessary, we are backed by lots of reputable VCs (refer to our website) and we are about to announce some good news with Cronos foundation. Moreover, the long waited VVS IGO picked us as their first project.👍
Q2 : In the litepapper I see that within the Single-Finance protocol oracle systems play a very important role. Can you tell us what functions do oracles perform within Single-Finance? Do you use your own oracle system or do you use the oracles of some other protocol? Which and why?
Kenny Denton Jr : Hi Andy, good one. thanks for taking time to view the site. the price oracle is a safety net for our investors, which our Stop Loss bot will help you to cut loss at a specific level so you wont have to worry about liquidation. we use chainlink as the main price reference. 👍
Q3 : Do you agree that a smooth user interface and user experience are necessary? Are Single Finance tools easy to understand? And will there be support and education material to assist users?
Kenny Denton Jr : Hi there, definitely. the name Single says it all. we want to help you to perform series of complicated leveraged yield farming functions in just one Single Click.
We will film a series of How To Video to allow users to know the features in the near futures.
Q4 : Can you talk about the utilities of the SINGLE token? Why should one invest and hold it long term? What are the features that would interest the user? What role does your token play in the ecosystem?
Kenny Denton Jr : Hi there
The SINGLE token four main utilities:
Decrease the performance fees paid to Single Finance Lab.
Increase the mining rewards.
Access exclusive Single-click strategies that provide higher returns and lower risks.
Claim our exclusive NFT in a limited period.
you hold it not only because it brings you to the moon, but also use it for the above stated features. I am sure you will love it👍
Q5 : when your project is in difficult times, investors will hesitate to invest, my question is how do you convince investors that your project will be fine?
Kenny Denton Jr: Hi, this is not the case we have in Single Finance, we have a strong team and lucky that we have no hard times in finding investors support. both the seed and private round allocation is sold in no time.
and for the IGO on VVS, it’s more than 50x times over-subscribed, these are all the indications of how are we performing so far, to the moon!👍
WHALERUSH | ZTH Team : Thanks for answer all question
Greatttt AMA Session today
For Knowledge
🌵About Community Single Finance 🧩
Website (https://singlefinance.io/) |
Telegram (https://t.me/singlefinanceofficial) |
Twitter (https://twitter.com/single_finance) |
Discord (https://discord.gg/raQcBPXEWu) |
Medium (https://medium.com/singlefinance) |
Telegram Indonesia (https://t.me/singlefinanceindonesia)
