We held a live telegram AMA session with 5TABLE FINANCE in our official telegram channel on 24th Jan,2022 and here is a recap for the same in case you miss the live AMA session
Hello @PhilipStable we welcome you to an AMA session with Dappcentre Official:)
Guest :- Very happy to be here today
Segment 1 – Host questions
Q1 Please introduce yourself and your team to our community and tell your crypto story
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. I’ve participated in other successful DeFi projects and have built a lot of valuable resources that will be very helpful for 5table Finance ecosystem.
Regarding our team, we are a team of 9 members, including devs with solidity experts, an engineer with a Master in Finance that’s in charge of tokenomics architecture and DeFi research, one graphic designer (very talented), and the rest on marketing and business development. We have plans to expand the team as we grow over time. The first 3 candidates are already selected for when the time comes.
Q2 What is 5table_Finance all about , it's usecase and how you got the Idea of creating it??
Guest :- 5table Finance is an advanced multichain, decentralized protocol that will allow you to find the best investment opportunities for your stable coins (USDC, fUSDT, DAI, TUSD & MIM) in order to protect your invested capital, obtaining the best profitability that the market can offer, in a safe and sustainable platform.
Basically, users will be able to stake any stablecoin (single token, no need to create any LP), and earn the highest profits in the market in the same stablecoin they choose, with our auto-compounding vault
Regarding the last part of your question:
The concept of 5table Finance stems from the need we observe from many investors who seek that part of their capital does not run the risk of market volatility that DeFi offers. These investors mainly seek the security of their capital, simplicity in investment, flexibility to manage funds, and the highest possible returns.
We observed that in most cases, the platforms where these investors can invest their stablecoins can not meet all of these requirements, since access is not so simple or the returns offered are very low compared to other platforms. It is from this situation that we created 5table Finance, so that these investors can access a secure platform, which finds the best investment strategies across the entire DeFi ecosystem and allow them to maximize profits from their stables.
Q3 Can you elaborate more on your ido and explain in detail the tiers also where will it happen and how will tiers be decided.
Guest :- We were incubated by DeFi Launch, where they help us build our tokenomics architecture (looking for efficiency and sustainability), our marketing plan (working with their media partners), and other key aspects of our protocol
First of all, we are launching in Fantom chain. The $5TABLE presale will be hosted at ftm.defilaunch.finance and will take place on Jan 27th, 23.00 UTC. The presale will last 24 hs, where everyone will be able to buy with 2-10% discount depending on with Tier they belong to
- For Tier 1 you need to hold 0-500 $fDLAUNCH, and you will get 2% discount
- For Tier 2 you need to hold 500-1000 $fDLAUNCH, and you will get 5% discount
- For Tier 3 you need to hold +1000 $fDLAUNCH, and you will get 10% discount 🤑
You will need USDC (from Fantom) to buy at presale
Q4 You are focusing on yield farming basically with stable coins so first of all what difference your product brings in as compared to many big players out there and secondly it will lead to inflation of your token as people will stake fiat and sell of your token earned so how you plan to make them hold the token
Guest :- There are some key differences with other protocols. First of all, our platform is extremely easy to use for anyone, no matter if you are a beginner or an expert. There is no need to create an LP. You can choose any of the 5 most used stablecoins, and stake it single token you will earn your profits in the same stablecoin you've staked, with the highest APY on the market with our auto compounding vault and regarding inflation. Actually, as I said, users will earn mostly the same stable coin they've staked.
They will earn some $5TABLE tokens on top, but not from emissions. There is an automatic $5TABLE buyback with the profits of the protocol, and that's what's distributed in the vault as part of the rewards. The $5TABLE token has a max supply and it's all minted in only one event, the presale. There will no more $5TABLE tokens minted after presale.
Q5 Can you explain your tokenomics especially why you decided 37% for pre-sale??
Guest :- Great questions. As I said, a key part of our tokenomics is the max supply, which is achieved at presale and no more tokens will be minted after the presale. That, combined with automatic buyback, will help the token increase the price over time.
The buybacks come from the profits of the protocol, so as our TVL increases, the price of our token will increase as well and regarding the 37% for presale. That's basically because the remaining amount will be spent in other important parts of our ecosystem. Mostly on Marketing, Pools and Locked liquidity.
For example, we have reserved almost 60k worth of $5TABLE tokens for SpookySwap, that's the #1 biggest project on Fantom.
That will provide us a 5TABLE-FTM farm at their platform, providing really strong buy pressure, and getting massive visibility for the protocol.
· But why 37% because many project prefer like a 10/15 % margin for presale
Our lead financial engineer, the one I told that's in charge of tokenomics design, considers that 10-15% is too low and it's not necessary to allocate such a small amount to the presale. This provides more trust, because the team will not hold a big amount of tokens, and most of what we'll hold will be locked.
Segment 2 – Twitter questions
Q1 Sir, can you explain why you decided to go ahead with launch of your product in such volatile crypto market conditions because maximum investors will focus more on alts in this dip?
Guest :- We are confident and have made a 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, of if a particular user has small or big amounts, 5table Finance will attract massive TVL for the real added value it offers. There are no other protocol such as the one we have built. We are not another DeFi project. We are here for really big things. That's why we are working with projects such as SpookySwap (#1 in Fantom), and we haven't even launched yet.
Q2 Why you didn't choose eth and bsc to launch your primary product instead you chosen fantom chain? And what are your next plans to extent your project into blockchain
Guest :- Actually, we first planned to launch on BSC. Working on DeFi Launch incubation program, we realized that there is a big opportunity due to the market condition and Fantom huge growth of the last month
This one is from today for example. There are also much better opportunities at Fantom chain right now that will allow us to provide much higher APYs for stablecoins in Fantom that we could offer on BSC or ETH right now
We are definitely expanding our project to other chains in the near future.We wouldn't deny this amazing possibility for users of any network.
Segment 3 – Community questions
Q1 Can you tell us more about your marketing, for global adoption and wider reach?
Guest :- Very good question. We have built a very strong marketing campaign with the help of DeFi Launch, that have incubated us. We deployed marketing campaigns with their media partners, with really strong actions for our presale, and a plan to continue promoting the protocol and attracting new users after launch.
We are working with DappRadar, Dapp.com, among other renowned dapps and for this week, we have booked posts at several crypto-related groups that will reach +1M views.
Q2 All project coins have their main utilities & real-life usecase! So, can you tell us What are the main role of your coin in your ecosystem?
Guest :- A very important question that the audience will surely like to know.
What is the utility of $5TABLE:
• Stake it in the 5TABLE governance pool to participate in the protocol earnings and earn more $5TABLE.
• Stake in partners pools and earn other tokens by staking $5TABLE
• In the short term holders will be able to vote and decide the path of the project through governance.
Remember that the $5TABLE token has a max supply of only 574,813 tokens that will be minted on presale. NO MORE TOKENS WILL BE MINTED AFTER LAUNCH.
Q3 Do you have AUDIT certificates, or are you working to AUDIT your project, to make it more secure and reliable ?
Guest :- Great question too! Security is a top priority for all DeFi users, especially for low-risk profiles, that hold a big portion of their crypto assets in stablecoins. With solidity experts in the team, audited by Certik and assisted by DeFi Launch security team, 5table Finance protocol will have the highest security standards.
Our Certik audit is in progress and we expect to have the final review completed very soon. We will also have a security audit provided by DeFi Launch security team with a full review of our smart contracts.
Best and kindest regards!