Crudeoil Finance AMA Summary with Decentralized Club ✔️

Dear, Community,

Welcome to the recap of our AMA with Crudeoil Finance.
Our vibrant and enthusiastic community had a lot of questions to ask. To those who want to know quickly what Crudeoil Finance is about, we are sure this recap is gonna help you. So without further ado, continue reading 😉

✔️Introduction with Crudeoil Finance : 👉

Petro Engineer (Crudeoil Finance) | No PMs from me!:
Sure. Always a good start

My name is Petro and I am one of the cofounders of Crudeoil Finance. We have a team of like minded individuals who thought of implementing a revolutionary concept to the crypto community.

Most of us have a long history in Crypto eg: Pyro (the CEO) is in the crypto field since 2013 and a BTC OG himself. So we have many years of experience with us on crypto.

We wanted to try our concept on ETH network first but due to the heavy fees in gas we decided to move to Binance Smart Chain. So, we have started our development later Q4 2020/ Early Q1 2021 and here we are today.

BILLY:
Smart move . Bsc pros are obvious!

Q2. Can you talk a bit about what innovations has Crude Oil Finance brought to the table? @crudeoileng

Petro Engineer (Crudeoil Finance) | No PMs from me!:
Yes, surely

Very simply its the deflationary feature. It is something to do with the human psychology. if people dont sell, the price will hold. If people sell, they are playing into the holders hand. just a beautiful concept.

Holders will have a chance to Stake/Farm Binance smart chain assets (BEP20) and get staking/farming rewards from $OIL tokens.

We are actually building an ecosystem around $OIL which was our first token.

Frankly the initial idea was to build on Ethereum and contribute to its ECOsystem. As you all know and aware, Gas price is killing ETH dapps at the moment. So we moved onto #BSC.

So far, we have been getting a lot of positive feedback from our community

In addition, we are adding another token called $DIESEL to our ecosystem. I will describe about it later on 😃

BILLY:
That means it is a success 🤩

Awesome 👌

Q3. Can you briefly describe your staking process and how is it better ? @crudeoileng

Petro Engineer (Crudeoil Finance) | No PMs from me!:
Yes. Traditional staking gigs require an infinite supply. New tokens need to be minted in order to keep the users staking. This “inflationary staking” causes a lot of sell pressure, and diminishes the value of the token. This is where Crudeoil Finance comes into play. Once the total supply 100,000 OIL is minted, No new tokens will ever be minted again. Infact Total supply will keep reducing. There is a burn for every transfer, that is gone forever.

on 18th Feb we started with a max supply of 100,000 now within 9 days we have already burnt a lot.

At the end we will burn over 90% of the supply to end up at mere 10,000 $OIL tokens

BILLY:
If supply keeps on decreasing will the holders also get affected?

How will you keep incentivizing the stakerrs ?

Petro Engineer (Crudeoil Finance) | No PMs from me!:
Positively. Because the price will go up 😃

As I mentioned earlier, we are building a complete eco system. We have plans to reward OIL holders using other eco system tokens as well

BILLY:
Great

Q4. What is Crude Oil Finance gunning for further in 2021 ?

Petro Engineer (Crudeoil Finance) | No PMs from me!:
Interms of $OIL, we have achieved many milestones including below.

1. Oversubscribed private sale
2. Public sale that was closed within 3 seconds
3. And then a healthy run for our early backers. However, the biggest news on this token is yet to come with many benefits for $OIL holders. (I mean serious benefits 😉)

Most importantly, with $OIL we have burnt the LP tokens. That means the liquidity on Pancake is locked forever. We did this to show to the community our commitment for long term development.

We will not be a mushroom project but will keep on #BUIDL ing

BILLY:
Holy moly. Your wink is tempting me a lot. $OIL !!

Petro Engineer (Crudeoil Finance) | No PMs from me!:
Our next token is $DIESEL and below are the reasons for us to introduce a new token to our ecosystem.

We have been approached by well known AMMs in the BSC space and shown their interest in doing an IFO with us. We are pondering the possibility from that front as well in collaboration with them. Hence this token will be utilized for that purpose.

There will be no burn mechanism implemented hence we can use it to list it on a centralized exchange. (We got so many offers to get it listed on centralized exchanges due to the burn feature we couldn’t get it done)

BILLY:
Thanks for the well detailed and quite exciting introduction to Crude Oil Finance !

🐧Community ask Questions by Twitter ✔️

Can you tell us about the Tokenomics of $Oil token and the recently included $Diesel token? What are their usecases, how are their prices pegged and are they interdependent on each other and the adoption of the project? Where can we buy these tokens and where would you list?

Petro Engineer (Crudeoil Finance) | No PMs from me!:
Yes, $OIL is our first token. The tokenomics are shown below.

Total supply is 100,000 and right now its about 97K with the burning

Then we plan to implement $DIESEL. We have successfully completed another oversubscribed private sale round. The public sale launch on a very popular IFO platform and the details will be announced very very soon.
The tokenomics of $DIESEL are shown below.

$DIESEL will be the medium for buying and selling NFTs on our upcoming NFT market place.
Also, Yield aggregator fees will be distributed among the DIESEL and OIL token Stakers on our platform.

BILLY:
Twitter question no 2.
From : @Viinna18

For a project development first of all main priority is having enough fund. Does your team financially capable to run
@crudeoil_fi
? Do you have enough fund for it’s developement Can you tell us that how @crudeoil_fi generate the profit?

Petro Engineer (Crudeoil Finance) | No PMs from me!:
Yes. Very good question today
When we began, the biggest concern we had was the many rug pulls that deteriorated the investor confidence. But we were honest and we expressed our intentions to the community.

The community responded with a bang and we had X5 oversubscribed private sale. Lot of #BSC OGs like BSCPleb, ChonkGangsta, Kdot, Axel joined hands with us

we returned the excess funds and showed our genuineness. Same happened with our private sale and it was sold out on like 3 seconds. We returned the excess BNB again

After this, when we listed, we burnt the LP tokens forever. So the Liquidity is locked forever.

This assures that we will be here in the long term showing commitment.

BILLY:
Twitter question no 3.
From : @mylhe

Crude Oil is already in BSC and you also plan to launch in Houbi Eco Chain or HECO. So, does your platform going to push this collaboration? Why do you need to collaborate HECO? What do you see as advantage in HECO? Thank you

Petro Engineer (Crudeoil Finance) | No PMs from me!:
We all know how big ETH is and how Uniswap supported the current bull run. CZ saw the opportunity and introduced Binance Smart Chain. We all know how soon it grew. Early projects on BSC like Pancake and Bakeryswap have grown very fast. Huobi is another giant in this field and we all know it. Everyone can assume that HECO is going to be big too. So we want to gain the early mover advantage into HECO.

🌍 Community ask question by Website 👨‍💻

Just a couple of days ago, Crudeoil announced that you had opened a Telegram group for Filipino users. What does the Philippine market represent for you? Do you have plans specifically focused on this region of the world?
Thank you!

Petro Engineer (Crudeoil Finance) | No PMs from me!:
Yes. Our vision is spread the news across the world and our local partners are our pillars of strength. Just like Philippines, we have planned a global ambassador program. You can see it here.

https://t.me/crudeoilfinance_ANN/127

BILLY:
Website question no 2.
From : @Arisabela

In relation to the security of your project, I have seen that you have made an alliance with Certik to conduct the audition of your smart contract, beyond the audition what other security measures does the platform use to protect itself from hackers and external attacks?

Petro Engineer (Crudeoil Finance) | No PMs from me!:
Very good question.

Certik is our smart contract audit partner and you can see our project listed in their onboarding projects list. We have also experienced a massive DDOS attack recently. Since then we have upgraded our platform infrastructure and moved to sophisticated AWS platform with ultra high security. We understand that security is a continuous improvement but not just a one-time task. So, we are committed towards continuous improvement.

BILLY:
Website question no 3.
From : Ross (@Rosane1a8)

How will stakers still be able to earn revenues after the 100.000 OIL gets minted and there is no more supply to pay them, is there a specific date it will happen?

Petro Engineer (Crudeoil Finance) | No PMs from me!:
So, as I mentioned, we are in the process of developing an ecosystem. $OIL was the first and $DIESEL is the second Staking and Farming will be a feature on both tokens. So, even after all OIL are minted, the holders will still get benefits via our other eco system tokens. This is on top of the capital gain the OIL holders are expected to receive.

Remember, At the end we will burn over 90% of the supply to end up at mere 10,000 $OIL tokens

✍️ Telegram live Questions answered by Crudeoil Finance ✔

@crudeoileng

Petro Engineer (Crudeoil Finance) | No PMs from me!:
Thank you for this question.

Yes. You can trade $OIL here>
https://exchange.pancakeswap.finance/#/swap?inputCurrency=0xb1b17dff66d75b29d34f0bf8622c406d8219b507

There will be many benefits for the $OIL holders which will be announced in the days to come. Including some special access pathways to the much awaited $DIESEL IFO and many revenue benefits.

We have plans for a top grade CEX listing for $DIESEL in the immediate future.

Out Of Range 🦅🔥🎖:
The Crudeoil financial platform makes the power of DeFi instruments available to the mass market and as the project develops contributes to the growth of Binance’s smart chain ECO system (BSC), what big benefits will your platform get in this partnership?

Petro Engineer (Crudeoil Finance) | No PMs from me!:
Yes. So these partnerships are two way. We get exposure to our project across established communities. Similarly, these projects will also get the exposure to our community. In addition, we will utilise the product features they are good at. For example, with stakd, OIL holders are able to stake OIL LP to earn Stakd on their platform.

Similarly we recently established a partnership with Certik who would do the smartcontract Audit of our token.

i thingking about me || cari modal untuk nikah:
Can you give us the 3 key success features that made the Crudeoil Finance project grow to date?

Petro Engineer (Crudeoil Finance) | No PMs from me!:
Yes. Very good question today

When we began, the biggest concern we had was the many rug pulls that deteriorated the investor confidence. But we were honest and we expressed our intentions to the community.

The community responded with a bang and we had X5 oversubscribed private sale. Lot of #BSC OGs like BSCPleb, ChonkGangsta, Kdot, Axel joined hands with us

we returned the excess funds and showed our genuineness. Same happened with our private sale and it was sold out on like 3 seconds. We returned the excess BNB again

After this, when we listed, we burnt the LP tokens forever. So the Liquidity is locked forever.

This assures that we will be here in the long term showing commitment.

Alienhjin:
Many blockchain projects are on paper only and no product or product has no practical meaning. Please let us know what is Crudeoil currently practical product in use?and What are your plans for the product to be better in the future?

Petro Engineer (Crudeoil Finance) | No PMs from me!:
I agree. That is why we spent many hours on development and released a fully functional project rather than a half baked product.

Katlyn Boyle:
Which area are you focusing on at the moment? (DeFi, Stake,Dapps..) and what is your goals in this year ?

Petro Engineer (Crudeoil Finance) | No PMs from me!:
At this point of time, we are focusing on yield optimizer algos and developing new features on top of our eco system. The fully functional product needs our other tokens to be operational. Once, $DIESEL is live, you will see the benefits soon.

✔️Thanks to all of our Community Fans✔️

Have a Great Day

Edited by : 🌿DK✍️

🎉Welcome 🎉 👪We are a community who eats, sleeps and drinks crypto 😉😁 Contact👇@cryptoTalk01 @UniqueBoyDK for AMA and project promotions♻️

Get the Medium app

A button that says 'Download on the App Store', and if clicked it will lead you to the iOS App store
A button that says 'Get it on, Google Play', and if clicked it will lead you to the Google Play store