AMA session with BSC.tools 03.03.2021
On the 3rd of March, Discovering Crypto Club hosted an AMA session with such a promising project as Illuvium, which delighted us with future collaborations, products, sales, and rewards. Here you have a recap of what the AMA looked like.
Host: Hello dear community from Discovering Crypto Club. We are having our AMA with BSC.tools, and our guest is @chrisbscdottools, welcome to our community. As an intro, can you make us a short introduction about yourself and about BSC tools?
Chris: My name is Chris — CEO of BSC.tools. We are a team of experienced blockchain developers coming from different countries. We used to develop many Etherium-based projects. And for the project, BSC.tools is a set of trading and data analytics tools focused on decentralized exchanges on Binance Smart Chain (BSC), with an abundance of features that support you in tracking real-time data analysis, creating your own trading strategies as well as earning and increasing your profits, easy to use across platforms.
Part 2: Twitter questions
First question from Twitter user mrjannatt
Could you tell us about some recent commercial partnerships that #BSC TOOLS has acquired?
What are you most excited about on the roadmap of 2021? When defi supermarket will be integrated into $BSC wallet?
Chris: For commercial partnerships, we have been teaming up with lots of powerful allies. The main goal is to gain as much exposure to the public as possible. It’s not easy to form those partnerships though, they have been very picky!
notably, we have a partnership with one of the biggest youtubers in crypto space. If you learn about crypto a lot via youtube, 100% you’ll know him. Some marketing partners of us can be named: Moonwhale Ventures, Crypto Panter, Encrypt Club, Gains, etc.
We’re excited to introduce portfolio manager and yield optimizer in the near future. You can see our partners and roadmap in the overview below.
Second question from Twitter user johnnycrypto0
What solutions does BSC.tools offer that many other projects based on BSC chain can’t, as an example, PancakeSwap?
Chris: We’re the first and most advanced Decentralized Finance (DeFi) dashboard that aims at supercharging your trading experience on Binance Smart Chain (BSC).
The main goal is to provide traders and investors with the possibility to monitor your favorite BSC pairs and create advanced trading strategies without having to search for the information in a wide range of non-standardized platforms and websites.
BSC.Tools shares with traders on-chain and live trading data from DeFi exchanges based on the Binance Smart Chain. In this way, users can get access to deep historical data, chart candles and the transactions that have been recorded on each of the platforms.
Third question from Twitter user Ontortk
Any small coding error can permanently damage the entire assets of the LPs. This is the biggest risk of Yield Farming. How will you deal with this problem? Has your smart contract been audited by any blockchain system?
Chris: For the future features that require smart contract integration, we are working with big and famous smart contract auditing firms to perform audits for us. When our Yield Optimizer comes out, our goal is to have it at the best state possible.
Host: Which auditing firms? 😅
Chris: We’ll soon add them to the website for announcement :D
Our planned date for yield optimizer is Q2 2021, so we plan to make the announcement to public around that time also. Maybe early Q3.
Fourth question from Twitter user Amo33962656
Your ultimate goal is to make you — the investors discover and manage cryptoassets in the best way possible to achieve your financial goal.
What are the plans to educate and raise awareness and adoption among the community to make more people understand about the project easily?
Chris: Every investor who does daily trading on BSC knows the demand for a charting/ data analysis tool. We’re born from that big and actual demand. Without many long tutorials, any user can use BSC.tools to make better financial decision by reading charts, candles, etc. We also developed the app to be easily accessible by all kinds of traders, from novice to professional.
Of course, we’ll always be there if our users need help/guides. 24/7 support.
Host: Has the app launched already?
Chris: yes the demo/ testing version is online. The full version will debut on launch date, March 6th.
Fifth question from Twitter user Alicewonder1202
🌎 When the beta version ends, different levels of membership will be available for users. What will be the cost and payment methods of those memberships, and how many different levels will be available?
Chris: The basic version will be free and accessible for all users. But only $TOOLS holders can access premium features. For the exact amount that’s required to unlock each tier, we’d like to announce later, when the feature is ready.
Part 3: Live questions
First question from Telegram user @DVDH_29
Can you explain to us how the $TOOL tokenomics are distributed and what benefits does it offer on the #BSC platform?
Chris: The TOOLs token has the following planned and current use cases:
Liquidity mining: Users will be able to earn TOOLs token as rewards for providing liquidity.
Governance voting: TOOLS holders can vote on features that they’d like to see on our platform.
Membership Upgrade: BSC Tools is currently in open Beta. After the open Beta period ends, you will need to hold a set amount of tokens to access advanced features. Different membership tiers will be available in the future.
Payment: BSC projects will be able to use TOOLs to pay for sponsorships and advertisements on our platform.
Second question from Telegram user @Ketz23
Defi, NFT & Yield Farming is very interesting and is starting to be in great demand,
Can you share $TOOLS opinion ? What steps are already being taken towards the future progress of $TOOLS ?
Chris: We have a little chance to jump on NFT space but DeFi and Yield Farming are already in our roadmap. They are also our main targets to focus on to attract new users.
Third question from Telegram user @m_i_l_e_s_u
What makes you feel confident about the survival & sustainable success of Your project in the near future? While you build your project, do you take into account community feedback and demands?
Chris: as I said before, we’re the first and most advanced Defi dashboard with the main advantages of technology and partnerships. For tech, we crawl the data in real-time from our blockchain nodes ourselves, so we don’t rely on any external APIs
Fourth question from Telegram user @Priyanshu0021
What are BSC.tools’ Features?
Chris: There are our main features:
Pair Explorer — brings all details of your favorite pairs in real time tracking.
Pool Explorer — gives you live and up-to-date data of any projects featured on BSC.
Multi Swap — allows you to swap multiple pairs at once and on a single browser.
Portfolio & Yield Optimizer — gives you the ability to trace the movements of your cryptoassets over the time and discover the best trading strategies to increase your profits.
Custom Indicator & Pine Script — enables you to add custom indicators to charts for optimal trading experience.
Gem Hunters Network — keeps you up to date with the hot new projects in the crypto space.
Extra question (not rewarded) from Telegram user @shahaju
Kindly explain more about your Tokenomics, Release Schedule and UTILITY, is it inflationary or deflationary?
Chris: I’d like to answer the last question about tokenomics. We have the total supply of 100,000,000 tokens, with IDO will release 200,000 for initial liquidity. Our main model is liquidity mining, in which 67% of all tokens are minted through liquidity mining. This is a huge benefit for investors and lots of potential to rise in price.
Useful links:
Twitter: http://twitter.com/bscdottools
Telegram community: t.me/bscdottoolschat
Medium: http://Medium.com/@bsc.tools
Website and app: http://BSC.tools
