AMA Recap: ApeFarmer
Time: 2PM UTC | Oct 28th
Project name: ApeFarmer
Host: Reginald from BSC Army
Guest speakers: Apeprince – Founder of ApeFarmer
- Segment 1: Introduction
- Segment 2: Twitter’s questions
- Segment 3: Live Q&A
Reginald: We will start this AMA session with ApeFarmer in a few minutes. Hope everyone will take a moment to monitor and evaluate the investment opportunity. You must follow the following channels in order to participate in AMA:
Join ApeFarmer Telegram
Join BSC Army Telegram
Follow ApeFarmer Twitter
Follow BSC Army Twitter
Welcome ApePrince – Founder of ApeFarmer. How do you feel today?
ApePrince: Feeling great! Glad to be here on this lovely Monday!
Very nice to meet you
Yes, that’s ApePrince – Founder of ApeFarmer ladies and gentlemen. By the way I’m Reginald – the AMA Host. 😁
Before we start, I will tell you the rules of today’s AMA. We will have a total of 15 questions and are divided into 3 separate segments.
🔸Segment 1: Introduction (5 question)
🔸Segment 2: Twitter questions (5 questions)
🔸Segment 3: Live Q&A (5 questions)
Please send a sticker or ‘Done ✅’ every time you finish your answer.
Have you got it? @ApePrince
Reginald: So, we are ready on the move.
Segment 1: Introduction (5 questions)
1. Could you please introduce a little bit about yourself and your project?
ApePrince: My name is Ryan aka Apeprince, I am the Project Lead for Apefarmer. I have been involved in the crypto space since 2013/2014, so needless to say, I have seen it all. My role with Apefarmer is to navigate development, marketing and introducing partnerships. In the simplest terms, Apefarmer is an advanced yield aggregator that autocompounds liquidity provider tokens & pools (single tokens) to increase yields while rewarding holders in our $APEF native token. The $APEF token has many utilities that are built into the protocol that is not only a reward token, but used for the Lucky Apes lottery, Utility NFTs, and our DAO (governance model).
Reginald: Wow, I have to admit that is such an impressive introduction 👏
2. Could you tell me about your team members and what are their roles in your team?
ApePrince: We have a relatively small team. We have two blockchain developers, web designer, NFT artist/developer, and myself. We also work with some independent freelance individuals for minor graphics work that we need done. Although we do have a small team, we have a combined 40+ years in the crypto sector, so experience and professionalism is not our weak side.
Reginald: That’s amazing. I believe you and your team will go far in the future 👏
3. What is the most unique feature of Mars Ecosystem comparing to other famous competitors?
ApePrince: As most of you know, DeFi is one of the leading sectors in blockchain. It’s the second most onboarding feature that crypto has to NFTS. There is roughly 15 major Defi projects BSC, but most have bad tokenomics which lead to inflation of the supply. We have built Apefarmer around the idea that our native token $APEF has deflationary measure built into each utility. This keeps a equilibrium between inflation and deflation. For example, the lottery, dao, & NFT auction house all require $APEF to be used and in return $APEF is burned.
We basically took the best ideas from each Defi yield aggregator and combined it into one.
Reginald: Great! Let’s move to the next question.
4. Could you please describe about your tokenomic and what are the use cases of your token?
ApePrince: Sure, so we have a starting supply of 800,000 $APEF. As of described above, $APEF is our Rewards token. you earn it ON TOP of other rewards you get from providing liquidity to your favorite decentralized exchange or for farming by entering a pool (for example staking $CAKE). $APEF is used in all utility in our ecosystem, which I described above. A more thorough look at tokenomics can be found here: https://apefarmer.gitbook.io/apefarmer/
Reginald: Yes, i feel very excited.
5. Marketing is always seen as a big problem of every project. So what is your plan to implement your marketing strategy make your project become more popular?
ApePrince: We are working with a global marketing team that at the moment is targeting English speaking countries, but will be expanding internationally after we launch. We aim to be listed on CMC (already done), coingecko, & nomics ASAP. We also are ready to collaborate with Dapp Radar, Apeboards, and any Defi educational service out there. We also do believe that once individuals start utilizing our platform that “word of mouth” will be a big driving factor for growth.
Reginald: We’ve just done Segment 1 of today AMA. We will move to the next segment now.
Segment 2: Twitter questions (5 questions)
Reginald: We have chosen 5 best questions from our audience from Twitter
6. Yield Farming has provided an avenue to help individuals increase their profits. Token inflation however, will start to happen in the near future so what do you think the impact of this will be to ApeFarmer ? Will this avenue for profit be degraded in the coming months/years? @AhmedSamna6
ApePrince: Great question. Built into the protocol is auto burning features. Meaning that every time someone collects rewards $APEF is burned from the fees generated. Anytime $APEF is used in lotto, DAO, & NFT auctions, $APEF is also burned. With that said, we believe that burning will outweigh emissions. If for any reason, inflation is outweighing deflation, individuals can cast a vote using the DAO to reduce emissions from the farm. Now of course, market conditions are a big effect as well, but our team is devoted to keep building to keep Apefarmer relevant and profitable for our holders.
Reginald: Wow, we could see it. 😁 And you are doing really great at this side 🔥
7. Do you have an educational program in the ecosystem? How could a Crypto Blogger be part of the “Educational program” on ApeFarmer to learn more about the ecosystem and at the same time help development? @RJM_500
ApePrince: We currently do not have a educational system built in other than information located in our gitbook https://apefarmer.gitbook.io/apefarmer/ . We are building a educational system into our gitbook that will explain how to use the platform. This includes creating liquidity provider tokens using our Ape Zap/dex, as well as how to farm, collect rewards, access the nft auctions, and how to use the lottery.
Although, we believe strongly in our community, so if anyone wants to step up and help educate, they would be rewarded for creating blog/twitter posts on relevant content.
8. The common problem that often accours DeFi projects is that smart contract vulnerability can lead to loss of funds, what steps has your projects taken for solve to fix this major problem and prevent such occurrences in the future? @Julia50099594
ApePrince: Yield aggregators have been prime targets by exploiters since they started. This is due to flash loan attacks. Simply a experience developer can write a contract to take a loan against a dex ( a very large loan) and then attack a low liquidity farm to exploit the amount of native tokens they receive.
We have implemented two different tactics to fight this:
First, TWAP (Time weighted average price) using chainlink technology. This helps reduce the risk of someone taking a large loan out against our native token.
Second, Anti-Whale Blocker. This reduces the amount of $APEF that can be bought/sold/transferred/farmed at a given price, which is built around a algorithm that monitors this.
With that said, we have also had TWO security audits, one from Tech Rate and another from Watchpug.
So we are heavily guarded. But, there can still be risk. As you may have noticed our current line up of farms is limited, and this is due to us picking the very best farms/pools with plenty of liquidity. So we are watching out for or community as best we can.
Lastly, We will also have 2 more audits done after launch.
Reginald: That is really cool, we could see all of the hottest chains there 😊 And what is ApeFarmer doing must be a boom in the future.
9. Could you tell us which userbase is ApeFarmer’ main target? Do you focus only on big Investors or small retail Investors also can be a big role in your project? @Mary47229678
ApePrince: We have created Apefarmer to be used by any holder. Whether you are a Whale or a shrimp, you can still farm and begin to build your crypto portfolio using our yield aggregator. We are not targeting specific investors by their holdings, but crypto investors who want to farm , bid on Apefarmer NFTS, and have fun while doing so. We welcome all who want to join our community.
Reginald: Here is the last question of segment 2
10. Please provide more information on your ROADMAP. What are the most anticipated plans and events for the next few days and months that we should be aware of?@Susan13727847
ApePrince: Everything in our protocol is built and ready to deploy. We will be waiting 1-2 months to release the DAO because we need to look over emissions and current farms before we let the community take over. This is to protect us against bad actors who could raise malicious votes to favor themselves and not the community. So ill give you a quick short/long roadmap.
Short term goals – Release the DAO
Long term goals (within 2-6 months), go multichain – MATIC, ADA, Solana, AVAX to name a few.
Even longterm – 6+ months , release a V2 of Apefarmer that will be a well oiled machine.
Reginald: That’s amazing. I’m looking forward to it 💪
Segment 3: Live Q&A (5 questions)
11. Do I need to get whitelisted to join your presale? How long will be your presale and is there any restriction ?? @lar_679
ApePrince: you do not need to get whitelisted, but there is a requirement. We are holding our IDO on an amazing launchpad Starter.xyz. To participate, you must be STAKING 50 $START tokens prior to the ido. Our presale is November 19th 15 UTC.
12. What is your Roadmap for listing on Good Exchanges? When will you consider listing on reputable Tier 1& Tier 2 CEXs like Binance, Coinbase etc? Have you raised enough funds for paid listing in future? @lar_679
ApePrince: We initially will be available for trading on pancakeswap, buffaloswap, & Babyswap. We do plan on listing on some smaller exchanges within 1-2 months of operation and then some larger exchanges after that.
13. 🏖️😵💕🌹 PARTNERSHIP & COLLABORATIONS are the backbone in making every project more widespread. Can you list some of ur partners with us?💗💕 @EmonOpP
ApePrince: Partnerships are key for growth. To name a few, we are currently partnered with Starter.xyz (our launchpad), Buffaloswap, Babyswap & Virvia. We are negotiating partnership with 2 other large decentralized exchanges now. We will be creating and building relationships with as many projects as we can moving into the future.
14. Do you also build NFT ? @KatherineLangford90
ApePrince: A simple question, but ill expand on it. Yes we will have NFTS. One of the use cases of $APEF is to bid on Apefarmer Genesis NFTS. They dont just sit around in your wallet looking pretty, they have utility. Apefarmer NFTS will grant you passive income in the form of earning a percentage of ALL fees generated on the platform. They will be limited and released 1 at time with a total of 1,000 to be released in the short term.
15. Please tell us more specific information about goals and vision for the next 1 to 3 years? @buycoin2021
ApePrince: The vision is to be multi-chain amongst all smart contract compatible chains. We want Apefarmer to really run on its own, based off what we have currently built. We will be building and adding features to make it highly competitive. We know we have a arsenal of amazing ideas to make Apefarmer one of the most sought after protocols to be involved. with.
Reginald: Congratulations on successfully completing the hardest part of each AMA session, which is interacting with investors and the questions they want to know. 👏
This is the end of our AMA today. 😊 Stay tuned for more information you guys!
Thank you for joining us, it is our pleasure to have you here today, @apeprince
Do you have anything to tell to BSC Army community?
ApePrince: First off, we really appreciate the opportunity to come and chat about Apefarmer. We have worked extremely hard over the last 6 months to make this a success. We will be working diligently to make Apefarmer a leader in the Defi space.
Thanks for having us.
Reginald: Thank you again for being here today. Have a nice day! 😁
Up to now, ApeFarmer has had outstanding growth with an ever-expanding ecosystem, promising to thrive in the near future.
Disclaimers: Writers’ opinions are solely their own, and do not constitute any financial advice, investment advice, or trading advice.
BSC Army strongly recommends that you do your own research, and seek professional advice from a financial advisor where appropriate.