AMA RECAP OF 5TABLE FINANCE HELD ON 17/02/2022
We held a live telegram AMA session with 5TABLE FINANCE in our official telegram channel on 17th Feb,2022 and here is a recap for the same in case you miss the live AMA session
Hello @PhilipStable we welcome you once again to an ama session with Dappcentre Official :)
Guest :- Hello Happy to be here again. I love this community
Segment 1 - Introductory questions
1) Could you please introduce yourself and your team to our community and tell a bit about your background
Guest :- I’m Philip, head of business development of 5table Finance. I’m a crypto investor since early 2018 and have been working in different roles in the industry since early 2019 . There are 9 people working on 5table Finance right now, not all of them are core members of the team .We have 4 devs, one of them is a very talented solidity expert .A financial engineer in charge of DeFi research and developing strategies. A very talented graphic designer. And the rest of the team works on marketing & business development, I’m the head of that area
We will add 3 new members to our team in the first two months (already selected and ready to start). And we will continue expanding our team as our protocol grows over time
2) What have been some of the recent developments done in 5table Finance from the previous ama ?
Guest :- We have recently added a Governance module to our platform, where users can Vote on different decisions of the future of the protocol. One of the most important things that users will be able to vote on is how the funds of our main stablecoin vault are distributed among the different farms. This reduces centralization risks and solves the last pending issue of our audit. So we have a full audit with no Medium or High severity issues now
Guest :- Well.. there are some major partnerships coming in, that’s for sure. And regarding platform developments, there is Dark mode coming, some interesting pools supported by our partners, and some surprises that will be announced shortly and get to be voted on our Govern module
3) Can you tell our community about the passive earning opportunities your product gonna offer in bsc?
Guest :- Probably everyone that’s now reading this has some stablecoins in their wallets or staked somewhere, right?
Some of them may have a few, some others may have a lot.
But problem is really low apy on stables
Guest :- 5table Finance offers the highest APY on the whole network in a very simple and easy platform and with the best security standards
We'll offer more than double APY of our closest competitor 🔥
There is no need to create an LP, or harvest native token rewards to manually compound. Just stake any of the 5 available stablecoins (single token), set it, and earn
The strategies to achieve that high APY are always shown in real-time in the Dashboard section of our website
And i was searching for a good product to stake my stable but couldn’t find anyone above 20% apy
Guest :- We’ll offer around 23%
Single token, auto-compounding and earning in the same stablecoin you have staked. It’s not a fixed APY though. It will move in between 20 and 24%
4) You have a presale planned on 20th so from where can our community buy the token and what’s the minimum and maximum buy in? Also any vesting period ?
Guest :- We are having our presale on bsc.defilaunch.finance .There is no minimum or maximum amount to participate in the presale, and there will be no vesting period. $5TABLE trading will be available right after presale ends
Remember that there will be 2-10% discount buying at presale
5) You have done some cool partnership so could you share it with our community and also tell how will it benefit 5table finance?
Guest :- We have partnerships with the best projects on all the BSC. For now, we have already confirmed BabySwap, ApeSwap, Biswap, Pacoca and KnightSwap. There will be farms and pools for the 5TABLE token on all their platforms, providing amazing opportunities for all our holders. Also, strong cross-marketing campaigns are been deployed with all of them, so we will have massive exposure and experience huge growth
Segment 2 - Twitter Questions
Q1 Most of the project witness a sharp decline immediately after listing so how you guys prevent it and incentivise them so that it will be in hold for long term
Guest :- Right after we launch there will be plenty of staking opportunities for the 5TABLE token with amazing rewards, so there will be more incentives for users to buy the token and pretty much any incentive to sell it
We will have 5 stablecoins pools on our platform + the main Stake $5TABLE & Earn $5TABLE pool
And on our partners' platforms we will have the following farms:
- 5TABLE-USDT farm on BabySwap
- 5TABLE-BUSD Jungle farm on ApeSwap
- 5TABLE-BNB farm on Biswap
- 5TABLE-BNB farm on KnightSwap
- 5TABLE-BNB autocompounding vault at Pacoca
Q2 hello! this is my question about the app. is there a fee associated with withdrawing my assets? Does it necessitate high fees? and how can you make sure that your app’s users can withdraw their assets safely?
Guest :- For the main stablecoin vault, there is no deposit or withdrawal fee
For the main Stake 5TABLE & Earn 5TABLE Pool there is a 3% withdrawal fee, that is redistributed among the rest of the participants of the pool. So if you are staking in that pool, you will receive extra earnings for every other participant that withdraws, providing incentives for users to hold in the long-term
Main stablecoin vault???
Guest :- Yes, the one where you can stake any stablecoin you choose in single token format, and earn +20% APY in the same stablecoin you staked
Basically our token works as shares of a company. By holding $5TABLE you own a % of the protocol. You can vote on decisions of the future of 5table Finance and have a % of the protocol earnings
Segment 3 - Community Questions
Q1 Do you have AUDIT certificates??or are you working to AUDIT your project, to make it more secure and reliable ?
Guest :- Great question. We have an audit. And unlike most regular projects we haven’t audited only 1 o 2 smart contracts, but all the smart contracts involved in our protocol.
A total of 12 smart contracts have been audited, and all the issues that appeared on the audit have been successfully resolved 🔐✅
Here is the full audit of the protocol
Q2 IF THE BEAR MARKET COMES will your token PROBABLY DUMP? Do you have any plan to prepared for this bear market? How will you handle the panic sell ?
Guest :- We are confident and have made deep research on how the stablecoin market moves both on bull & bear markets
The results throw that the stablecoins market continues to grow on both markets. In the bull market, the total amount of funds moving is bigger, and therefore the stablecoins market is bigger.
In a bear market, there are also big opportunities, since a big part of the users move from volatile tokens to stablecoins until the market goes on a bull run again.
So, no matter if there is a bear or a bull market, or if a particular user has small or big amounts, 5table Finance will attract massive TVL for the real added value it offers
Q3 Regarding marketing, what plans, ideas and next steps does your project have to attract investors and users? Do you intend to leverage the popularity of social media to make your Project even more popular?
Guest :- We were incubated by DeFi Launch, and we are working with all their media partners.
For our upcoming presale, we have deployed a massive marketing campaign that will have +2M views across renowned dapps, Twitter accounts and Telegram channels.
We also have already booked high visibility YouTube campaigns for post-launch to increase 5table Finance exposure and attract new users