AMA with xReaper
Welcome to the recap of our AMA with xReaper!!
Our vibrant and enthusiastic community had a lot of questions to ask. To those who want to know quickly what xReaper is about, we are sure this recap is gonna help you. So without further ado, continue reading
Introduction with xReaper
I AM | Chris:
Q1. So, firstly Can you guys introduce yourself and also please tell us how did the name xReaper came into being for this project?
Tomito Kotori:
My name is Tomito and I have been in the crypto space since 2013. I started out by mining Bitcoin and later progressed to development and working for projects. After doing that for almost 5 years, I decided to create a project of my own with people I met on the journey.
The name is derived from reaping the rewards. We thought reaping rewards sounds much cooler than harvesting and thought might as well use it as our name.
I AM | Chris:
So probably 2018 is xReaper project started?
Tomito Kotori:
The initial idea yes, but there weren’t as many options as there are now and the technology wasn’t there either.
Now ETH has more competitors that are faster & less expensive and things like AMM didnt exist before 2020
I AM | Chris:
Yeah. May I ask how many are you since the start of the project? And the present how many developers/ workers do you have ?
Tomito Kotori:
Yep.
There is 6 of us, 2 blockchain developers, 1 full stack dev, Me & Suniku and 1 person in charge of operations.
I AM | Chris:
Q2. Can you talk a bit about what use case is xReaper serving to its customers ?
Tomito Kotori:
We want to provide our customers a smooth transition between different chains, with minimal fees & spread while remaining decentralized.
I AM | Chris:
Nice. Good concept, as what we had experience now in Ethereum gas fees. Too high.
Tomito Kotori:
Yes, not good for users and they have been delaying their PoS for too long now.
I AM | Chris:
Q3. What milestone did xReaper team achieved which was game changing for it?
Tomito Kotori:
Yes, not good for users and they have been delaying their PoS for too long now.
So far the biggest game changer for us was getting onboard 2 veteran blockchain developers that share our vision and have the ability to make our goals a reality.
I AM | Chris:
Q4. From the perspective of investment how is xReaper native token beneficial to its long term token holders?
Tomito Kotori:
There will be many benefits to being a long term xReaper holder. Receiving the aged tokens and thus more voting power is just one of them. Diamond REAP holders will receive dividends generated by our bridge. We also have a collection of NFTs for our early supporters along with a legendary NFT that is made up of 4 different pieces. NFTs will also have a utility and will not be just art. More info on that will be revealed a bit later.
I AM | Chris:
Q5. What is xReaper gunning for further in 2021 ?
Tomito Kotori:
Our main goal for 2021 is to have the bridge up and running. There are multiple objectives to be accomplished with Bridge being the main one. Slide 13 on our pitch deck if you want to see our roadmap in more detail https://docsend.com/view/nb7kys3x9qg28npi.
Community ask Questions by Twitter
I AM | Chris:
Twitter question no 1.
From : @PeNaNa256
Is xReaper Finance primarily for enterprises alone, or is there a possibility to expand to individual users who wanted to invest crypto assets in a much more secure environment?
Tomito Kotori:
Good question
Individual users are our primary target. We want a fair and competitive market for everyone. Being focused on just enterprises defeats the purpose of that. Like I already said we are big advocates of decentralization.
I AM | Chris:
Twitter question no 2.
From : @bayuinaf
Do you think your work team together with your associations and alliances are trained and experienced to develop different xReaper Finance protocols? Where can I find information on the $REAP technical team?
Tomito Kotori:
Yes, without a doubt. You will be able to see the code on our github. Long Term supporters will get to see a lot more of it than it will be available to the public. Same way that shareholders get a more in-depth look into the companies. We will let their code speak for them 😃
I AM | Chris:
Ok. You can share the link too if you have it there..
Tomito Kotori:
https://github.com/zer0chan1/ from our contractor dev. More will be published soon. We are publishing in bigger batches rather than pushing every small change & commit.
I AM | Chris:
Twitter question no 3.
From : @mamahdatto
How do you plan to include the initial liquidity required for the $REAP pool and what are the benefits if users wish to become liquidators or provide liquidity ?
Tomito Kotori:
Initial liquidity will be provided with some funds from the raise.
You will be able to farm REAP & aged tokens with your LP tokens. LP tokens will also reduce your fees once our bridge is live.
Community ask question by Website
I AM | Chris:
Website question no 1.
From : GemMonkey
What would you say is the main benefit of xReaper Finance ? Are you planning on getting the contract audited in the near future? Could you tell something more about the team behind this project ?
Tomito Kotori:
Main benefit is that our system is designed in a way to be self sustainable and to award our long term supporters. Yes an audit is in the works. I can’t praise the team enough and I consider myself very fortunate to be able to work with these hard working & talented people. If you would like to chat to some of the team members you’re welcome to join our telegram group.
There will be a liquidity lock contract & vesting contracts along with everything else. As many safety mechanisms in place as necessary to satisfy the investors & our community.
I AM | Chris:
Website question no 2.
From : @nazmudsadat
How was the idea to create xReaper Finance born? It is very interesting. What do you want to prove? What are your expectations?
Tomito Kotori:
Throughout the history of crypto there were always some issues, some bigger than the others. Now we have the tools and people to resolve the problems that affected us in the past couple of years. By us — I mean the team members directly. We are building a product that we ourselves will use and it will help us do things that we were unable to do before or at least not as efficiently as we would like to
I AM | Chris:
Website question no 3.
From : Alex Sandra
Liquidity, Transaction fees and slippage are always important factors in Finance services. How does xReaperFinance solve the above problem to attract users?
Tomito Kotori:
Liquidity and slippage are correlated, you can’t have one without the other, we have made some tweaks to existing AMM systems to make ours even better. We will have competitive fees that will decrease based on the amount of liquidity that you’re providing and amount of REAP in your possession.
If you don’t have liquidity you will have slippage and vice versa is what I meant by “one without the other”.
Telegram live Questions answered by xReaper
Q1 from Che Tut:
You have 3 options in the token aging system: silver, gold, diamond. How does this work? Will we need special NFTs to participate in this program?
Tomito Kotori:
You will be able to have all of them. Silver REAP will be released after 15 days, Golden REAP will be released after 45 days and the Diamond REAP will be released after 90 days. You will be able to use the previous versions to obtain the new ones. First 100 supporters of each token will receive a unique NFT + one piece of a puzzle (4 pieces will be needed to generate the legendary NFT).
Q2 from বাল কেনো ঋরে পড়ে:
What is the most ambitious goal of the project? I would appreciate it if you could share with us any upcoming updates? What should the community look for?
Tomito Kotori:
Our most ambitious goal is reaching 100 million $ in daily volume once the bridge goes live.
Q3 from √TOÀN LÊ√:
What is your revenue model and how will you generate income / profits to sustain your $REAP token project? In what ways will it benefit the investor and the project to provide a win-win situation?
Tomito Kotori:
Bridge will generate fees, before the bridge goes live our Farms & Staking pools will generate fees. Up until the Diamond REAP & Bridge go live the money from the fees will be used to do buybacks and burns. After that we will start distributing the fees to REAP holders as dividends for them to use as they please.
Q4 from Phúc CR:
Many projects make a good impression at first, but are suddenly abandoned. How will you manage your xReaperFinance project to gain a place in the market and $REAP to become a better token in the crypto world? Where are you currently in focus?
Tomito Kotori:
We have put a lot of effort into making our ecosystem self-sustainable and designed all of it with long term objectives in mind. Hence the aged tokens for example.