AMA RECAP OF MOONROCK HELD ON 07/04/2022
We held a live telegram AMA session with Moonrock in our official telegram channel on 7th Apr,2022 and here is a recap for the same in case you miss the live AMA session
Hello @ralfyishere we welcome you to an ama session with Dappcentre Official :)
Guest:- Thank you. Happy to be here.
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 Ralph, the Strategic Advisor for MoonRockDAO.com . I am one of the ex-traditional finance core team members in the project. Half of us come from the traditional finance space. If you look me up on LinkedIn www.LinkedIn.com/in/ralfyishere you’ll notice that I have several years of experience working at BofA/Merrill Lynch. In my last position I was a VP within the Private Bank, managing a team that managed wealth for Ultra High Networth clients.
2) What’s Moonrock all about , it’s usecase and how you got the Idea of creating it ?
Guest :- The team came together to essentially bridge the gap between traditional finance and DEFI. We wanted to see a project that would provide tools and services for other projects and crypto users, as well as invest in those eco-systems. That’s where the idea of MoonRock “the DEFI version of BlackRock” came about.
At this current time we have released the “RockSwap” https://moonboard.moonrockdao.com/#/rockswap
This allows the user to swap tokens and coins between different blockchain… for example you can swap BNBBSC to ETH or SOL (viceversa)…
In addition, we manage a community treasury that is comprised of several tokens and coins. We manage using passive and active investment strategies, and we use 50% of profits for buybacks, 30% for compound portfolio growth, and 20% for marketing/operations.
Our decentralized staking model is coming out later this month. This will allow users to stake within their own wallet.
3) Can you tell our community about the passive earning opportunities your product gonna offer ?
Guest :- At this current time token holders can earn passive income via reflections (redistribution of transaction fees to token holders). However, later this month we are rolling out our decentralized staking model where our token holders can create a stake within their own wallet and earn up to 40% APY rewards on their stake.
4) Why you decided to migrate your product from bsc to erc ? What will be the additional advantages of this migration??
Guest :- Originally, we wanted to be the beacon of light in the BSC — A legitimate project that holders can hold on to with the comfort of knowing that you have a legitimate team working on it for the longterm. However, we soon noticed that the majority of the BSC market is not very interested in that. The fact is, the majority of the BSC wants to gamble on pump and dumps, fly by night projects that are here one day and gone the next. We’ve also lost Venture Capital and Private Equity opportunities due to the fact that we were on BSC because of the bad reputation that BSC has.
Therefore, to take advantage of future capitalization efforts, responsible user growth, increased market size, and a more seasoned DEFI user base, we decided to make the move to ETH… This is happening later today. Make sure to follow our socials to be aware of when we are ceasing trading operations and migrating LP and user tokens to ETH.
Some people will ask “why don’t you all just BRIDGE, while maintaining your token on BSC?” We’ve been advised by top security blockchain personnel that work for some of the largest banks and fintech companies in the world not to bridge due to the fact that there are too many vulnerabilities when it comes to bridges…. And this has recently become evidenced several times in the past few months via several 9 figure hacks on bridges. Thus why we are migrating and not bridging.
I would request you to share the link of all your socials if available in hand
Guest :- Here is our Link Tree:
You can find links to our socials, websites, utilities, community, etc… via this link.
5) Can you share with our community the partnership and marketing strategies done by you to raise awareness about your product ??
Guest :- Absolutely. Starting with partnership, we thought the best route was from within to out, meaning we started by building individual relationships with qualified community members that can introduce us to other impactful groups. This is how we ended up partnering up with interesting partners like MoonRock Canada (a cannabis company), DaFresh Label (a clothing company), Sriracha Inu (helping us with our sub-ecosystem for meme coins), and we have a few partnerships currently in the pipeline for post ETH migration.
As for our marketing strategy, we wanted to target investors that understand what we are trying to do with MoonRock. So we use social media
Segment 2 - Twitter questions
Q1 I am primarily concerned about the security of the product since there are many rugpull or hacks happening nowadays . So can I know what security checks have your team taken (liquidity locking, audit etc.)???
Guest :- Liquidity will be locked with Team.Finance once migration is complete.
Audit for the new contract was conducted by TechAudit, and will be published today.
We already did both of the above while we were on BSC. No rugpulls or hacks since we went live in late December 2021.
In addition, if you go back to question #4 you will notice that we take security very seriously and we consult with blockchain security professionals before making any significant moves.
Q2 What’s the advantage of your launchpad as compared to others Launchpad existing in the market and will it have any benefit for the $ROCK token holders?
Guest :- Our Launchpad will not allow just any project to get listed on it. It will require a thorough vetting process, including a KYC, audit by our own Devs and 3rd party, and will be limited to 1-2 per month. Most of these projects will be incubated by the MoonRock team to ensure quality work.
Allocations to each launch will depend on token holder stake amount and staking timeframe. The longer the user chooses to lock their token stake, the more allocation they can qualify for.
Segment 3 - Community questions
Q1 Where I can get the latest updates or more information about the project?
Guest :- https://linktr.ee/moonrockcoin
Here are all our links. I suggest joining our Twitter and telegram.
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 :- If/when a bear market comes then all tokens will decrease in value until the next bull market.
We will continue to do what we do everyday… deliver. Control what we can control.
Q3 Did you consider community feedback/requests during the creation of your product in order to expand on fresh ideas for your project? Many projects fail because the target audience and clients are not understood. So I’d like to know who your ideal consumer is for your product?
Guest :- Always… we always take into consideration feedback from our community because everything we do is for them.
Our target market is the DEFI user base. And I don’t mean people that say they’re in “DEFI” because they invested in a project that promises them exorbitant rewards. I’m talking about users the user base that has experience farming in liquidity pools, appreciates decentralization of assets, uses multi chain solutions, etc.