The recap of BT.Finance x Satoshi Club AMA
On Jan 25, 2021, BT Finance x Satoshi Club held an AMA. This is first time that BT.Finance talked to the community deeply. In this AMA Recap, there are many meanful questions for BT, and They are also making BT’s future brighter. we will try to summarise the most interesting points for you.
In this AMA Recap, we will try to summarise the most interesting points for you.
Part 1 — introduction and questions from the Website
Satoshi Club: Hello SatoshiClubbers! Welcome to another AMA session with Satoshi Club. Today our guests are from BT.Finance. Pastry_BT, BTFinanceDeFi welcome.
BTFinanceDeFi: Hello everyone.
Satoshi Club: Hey! Welcome to Satoshi Club!
Satoshi Club: How are you today?
BT.Finance: Fine, thank you!
BT.Finance: The group is so active
Gold Rocket | Satoshi Club: Thanks for your kind words
Satoshi Club: So, can you please give us a short intro about BT?
BT.Finance: Sure thing.
BT.Finance: BT.Finance is the Best and sustainable yield for Tokens from other excellent DeFi yield aggregators and platforms. You can farm $CRV $SUSHI $1INCH $PICKLE $BADGER $LDO $BAS $MIS $FXS from here in the future, all those yields are sustainable to all users with various risk tolerances. Audited by PeckShield, you can check from https://twitter.com/peckshield/status/1347012140012503041
Satoshi Club: Thanks for sharing!
Satoshi Club: Thank you! I think we are ready to start with community questions. Right?
Gold Rocket | Satoshi Club: Want to add something or move on to community questions?
BT.Finance: So we can move on to community questions
Q1 from Telegram User @surdumiha Your pools are divided into high yield pools, smart hybrid pools, and stable profit pools. Tell us about the features and the differences between them.
BT.Finance: They are suited for different users, You can deposit stablecoins, eth, wbtc, or other single assets to earn with no impermanent loss in Stable Profits Pools.
BT.Finance: You can deposit uni-v2, SLP, or other LP tokens to earn a high yield in High Yield Pools.
BT.Finance: Smart hybrid pools is a combination strategy, it will automatically allocate funds for users to balance the benefits and risks.
BT.Finance: These are the difference among the three pools. Different users can choose different pool.
Satoshi Club: And who calculates the balance? An AI?
BT.Finance: Smart strategy.
Satoshi Club: Fine! Thanks for the answer! Ready for the next question?
BT.Finance: Yeap, let’s continue.
Q2 from Telegram User @ivancryptoz I can deposit usdc on your platform and receive 63% APY. Where is it coming from? How is it possible to get such a high return from staking a stable coin?
BT.Finance: Total APY consists of 2 parts: automatic harvest from other yield and $BT rewards
BT.Finance:
BT.Finance: You can read the graphic.
BT.Finance: Is that clear for you guys?
Satoshi Club: Yes! Thank you so much!
Satoshi Club: By the way, share your marketing plan, please.
BT.Finance: This is BT’s Q1 marketing plan. https://btfinance.medium.com/bt-finance-marketing-plan-for-the-first-quarter-319e5242bfac
Satoshi Club: Satoshi Club will give some claps to that article.
BT.Finance: Thanks for your kind words!
Satoshi Club: Are you ready to proceed to the next question?
BT.Finance: Yeap, let’s go ahead!
Q3 from Telegram User @ammargen I saw that you have some withdrawal fees. Can you tell if the fees apply to everyone, even if we hold the token for many months? Also, where are these fees going?
BT.Finance: The withdrawal fee is 0.5% within 24 hours, 0.3% within a week, and 0.1% after a week.
BT.Finance: You can check from here. It goes into Treasury（multi-sig）Wallet. It will be platform gas and exchange cost for harvesting.
Satoshi Club: So the minimum is 0.1%?
BT.Finance: Yeap, exactly. only 0.1% after one week later.
BT.Finance: I believe that is so little for us.
Satoshi Club: Yes, it’s a small amount. Ready for the next question?
BT.Finance:Let’s go!
Q4 from Telegram User @deliasy You say that you are a community-run project, you believe in gradual decentralization and aim to turn the protocol into a DAO over time. But how about now? Who is making the decisions and can they be vetoed somehow?
BT.Finance: Join gov.bt.finance discussion for proposal and vote through vote.bt.finance.
BT.Finance: Currently, votes are managed on snapshot.page, after a community vote takes place, the multi-sig signers must sign the transaction to make it live.
BT.Finance: BT/ETH liquidity providers (see Farms) enhanced the power to shape the future of the protocol.
BT.Finance: But governance is something later.
Satoshi Club: By the way, in February you are planning to release @CoverProtocol Insurance. Please tell us more about this.
BT.Finance: We will set up an insurance fund to offer smart contract coverage with Cover Protocol from our 10000 $BT governance funds.
Satoshi Club: Well! That sounds good!
BT.Finance: The first governance proposal mentioned above may be the distribution of government funds.
Satoshi Club: Ready for Q5 then? Or do you want to add something?
BT.Finance: For Q5 is ok.
Q5 from Telegram User @kenny_vermaelen It’s written on your website that you plan to buy insurance in order to protect the assets of the users. Are there any confirmed partnerships regarding this? Also, will you cover 100% of the assets? If less, what will be the amount?
BT.Finance: We will set up an insurance fund to offer smart contract coverage with Cover Protocol firstly.
BT.Finance: The second is to buy insurance for our strategy target.
BT.Finance: There is currently no way to determine the specific amount. As mentioned above, the allocation of government funds needs to be determined first.
Satoshi Club: Have you already chosen which CEXs and DEXs listing you will implement? Btw…
BT.Finance: Yeap, We already have listed on Uniswap.
Satoshi Club: Great!
BT.Finance: And recently, we will be listed on a CEX also.
BT.Finance: And we plan to be listed more exchanges in the Q2.
Satoshi Club: Community is also often interested in airdrops and giveaways. Have you also planned something in this direction?
partnerships regarding this? Also, will you cover 100% of the assets? If less, what will be the amount?
BT.Finance: We will set up an insurance fund to offer smart contract coverage with Cover Protocol firstly.
BT.Finance: The second is to buy insurance for our strategy target.
BT.Finance: There is currently no way to determine the specific amount. As mentioned above, the allocation of government funds needs to be determined first.
Satoshi Club: Have you already chosen which CEXs and DEXs listing you will implement? Btw…
BT.Finance: Yeap, We already have listed on Uniswap.
Satoshi Club: Great!
BT.Finance: And recently, we will be listed on a CEX also.
BT.Finance: And we plan to be listed more exchanges in the Q2.
Satoshi Club: Community is also often interested in airdrops and giveaways. Have you also planned something in this direction?
BT.Finance: Thousands of $BT will be airdropped to all of the users who farming on BT.Finance around in March.
Satoshi Club: Let’s keep in touch to get some tokens from that airdrop
BT.Finance: And more airdrops for all our partners, The rules may be similar to $1INCH and $DIGG, but the details have not been finally decided yet.
Satoshi Club: You still have a lot of work ahead of you!
BT.Finance: Please stay tuned and we will not disappoint everyone.
BT.Finance: Exactly, and we firmly believe BT will be better and better.
Satoshi Club: Thank you very much for your answer. Ready for the next question?
Q6 from Telegram User @Malhang You last activity on Github is Jan 5th, 2020. Why is there no more activity after that? Is everything working and on schedule?
BT.Finance: We are updating and improving the products recently, and a new strategy may be launched this week.
Satoshi Club: We are looking forward to projecting updates!
BT.Finance: Thanks！and welcome to join @btdotfinance.
Satoshi Club: Personally, I don’t understand GitHub that much, but it’s always important to share project improvements.
BT.Finance: Because we have submitted many strategies for audit, new strategies need development time and audits have not been updated and uploaded.
Satoshi Club: You are right
Part 2 — live questions from the Telegram community
Q1 from Telegram User @feranno Which are BT Finance different from other competitors? Can you list a few reasons to invite investors to BT Finance investment?
BT.Finance:
Audited by @peckshield. You can check from their twitter: https://twitter.com/peckshield/status/1347012140012503041
User Insurance Fund Besides audit.
Gnosis safe multi-sig governance.
Set Timelock.
Auto harvest from other excellent DeFi yield aggregators and platforms.
Blockchain and securities industry experts serve as project consultants and strategists.
Q2 from Telegram User @JoanaZ BT Finance said proudly that is the best Yield DeFi project of the moment, but can you explain how do you back up those words?
BT.Finance: 20% of yield farming revenue will be used to buy back $BT. BT token is the governance token for BT.Finance, BT/ETH liquidity providers enhanced the power to shape the future of the protocol. You can buy $BT and stake in POOL 1 APY is close to 100%, Or add liquidity on uniswap and stake in POOL2, APY is close to 400%.
Q3 from Telegram User @warny What’s the emission plan for BT token?
BT.Finance: The total supply of BT token is 270,000,will be competely distributed with a 2.7% reduction from the prior week until week 105, check the emission table for details.
Q4 from Telegram User @Poponchi One of the main and biggest struggle in Defi Projects is on how to start farming. Literally the price will go down because the users or investors are emptying the liquidity into the farm. Is there any other way that can generate income or incentivization to remain and not just only farm and dump?
BT.Finance: We will focus on the products and strategies themselves rather than the price of $BT, developing a better strategy will have a higher APY to increase TVL, meanwhile, there will be more $BT buyback, the price will naturally goes up.
Q5 from Telegram User @anh1973 How to Deposit and Stake to earn $BT in bt.finance?
BT.Finance: Detailed tutorial please check from here.
Q6 from Telegram User @centoscu Why did you build your project on Ethereum erc-20 and not on Palkadot blockchain and why?
BT.Finance: We are more optimistic about the Ethereum ecosystem.
Q7 from Telegram User @Amila19932 Have you listed on COINGECKO now? Or still processing the listing on COINGECKO? Because you have mentioned it on your marketing plan?
BT.Finance: Not Yet, but we are doing much effort for that, so we believe it will be soon.
Q8 from Telegram User @cryptovgh How to get BT tokens? Is it listed on any axchange or do I have to farm BT? If yes how can I farm BT?
BT.Finance: Farming or buy BT through Uniswap https://info.uniswap.org/pair/0x1adac7de5c5d9894a4f6a80868ade96f8a2ed0eb.
Q9 from Telegram User @cryptovgh BT-ETH LP pool is there according to your website,And APY is also a higher value of 364%. This is interesting. Please explain how can I participate for this Liquidity Pool?
BT.Finance: Add liquidity from uniswap https://app.uniswap.org/#/add/ETH/0x76c5449F4950f6338A393F53CdA8b53B0cd3Ca3a
And stake in Pool2 https://bt.finance/stake
Q10 from Telegram User @Guandog Do you have any plans for the broadcast program after week 105, when it’s all over? burn or buyback plan?
BT.Finance: The 20% profit buy back BT Tokens will continue to be distributed to BT Stake POOL.
Part 3 — Quiz Results
In the final part, we tested your knowledge in terms of BT.Finance. They’ve prepared 4 questions for this part. The total reward pool for the quiz was 800$.
- The total supply of BT tokens ？
A：Correct answer is 270,000
2. How many weeks are the BT rewards and yield farming in presently?
A：Correct answer is 8 weeks.
3. What kind of pools are BT Vaults divided into?
A: Correct answer:Stable Profits Pool,High Yield Pool and Smart Hybrid Pool.
4. Which one is close to BT Market Cap?
A: Correct answer 0.5M
That is all about the AMA. We hope you can learn more about BT.Finance from this AMA. BT will reward you with more excellent products and earnings. Thanks for all the audiences’ focusing and advising for BT.
Join us:
Telegram: https://t.me/btdotfinance
Discord: https://discord.com/invite/9y5nKaqjmP
Twitter: https://twitter.com/btdotfinance
Website: bt.finance
