CURE Farm AMA Summary with Decentralized Club ✔️
Welcome to the recap of our AMA with CURE Farm.
Our vibrant and enthusiastic community had a lot of questions to ask. To those who want to know quickly what CURE Farm is about, we are sure this recap is gonna help you. So without further ado, continue reading 😉
✔️Introduction with CURE Farm : 👉
Q1. Can you provide a brief introduction to the core team behind Cure Farm? @RAJKUMAR1990
A little bit about our team and myself. I’m Raj, currently based in the Bay area. You can tell by my name that I’m of Indian descent. Our team is consisted of professionals of IT background, many of them are my friends and former colleagues.
So the team already know each other from before a bit. Good for maintaining synergy quickly 🙂
True, and because I trusted them in creating projects that will revolutionize the Defi area
Q2. What does Cure Farm offer that we should be excited about? @RAJKUMAR1990
Community governance. Yield farming. And security.
CURE Farm is a deflationary token that aims to generate continuous liquidity through mechanisms of mandatory community consensus, rewards vs. punishments, and fixed supply.
So how does this whole dynamic system work? First of all, when you stake your tokens in one of our 42 LPs, all of the tokens will be used to generate liquidity, which will be then locked. Now if you unstake, which I never recommend, you will get only 1% of the LP back. At the same time, CURE tokens will be minted at a diminishing rate such that the total supply will be set at 800,000. As a result, CURE aims to pump token price due to its deflationary nature.
CURE establishes mandatory community consensus by disincentivizing investors to unstake, while “rewarding” them with tokens of which the price will keep rising over time.
Team CURE believes that the incentives of DeFi and farming various tokens have been flawed and short-minded. And we want to change the dynamics. CURE creates incredible synergies between people farming the project and traders. On one side the farmers provide locked liquidity, increasing the price floor due to its fixed supply. On the other side we have the traders who are charged a fee on token transfers (trades on Uniswap). This is a unique setup that the developers of CURE have created.
For community governance, we just launched our snapshot voting strategy on https://snapshot.page/#/curefarm.eth, where people could participate in voting for future project proposals and make a meaningful change
So, basically unstaking will attract a “punishment” and keeping it staked will attract major rewards . Hmm.. quite fascinating !
Q3. Can you talk a bit about your customers and how they are gaining massively from your products and services ? @RAJKUMAR1990
We greatly value our customers, and we took their opinions and concerns seriously. One of their concern is safety of assets. CURE has taken great care of that aspect by deploying timelock and liquidity locks. And they also care about profitability. I learned from our community that some first movers have already got to break-even point in 3 days, while some are harvesting in LPs that could potentially gernerate high apy returns. Additionally, since CURE has fixed supply, its price will be able to rise given enough time for the volume to go up.
Q4. What is further planned for Cure Farm in 2021 ? @RAJKUMAR1990
Just a brief rudimentary roadmap to give you guys a rough idea. Don’t tell anyone else yet cause this is exclusive content for you. We will work on elaborate plans for the future and will post them on Twitter once they are ready. So please stay tuned!
Things are planned out really well, all the best !
To briefly explain: we plan to launch mulpitle other lps in Q1
Partnerships perhaps with Balancer soon in Q2
The new exchange listing is already in negotiation stage now, while we gather materials for the authority to review
In the second half of 2021, our biggest plan is the CURE Farm app, where users could conveniently farm and trade on.
🐧Community ask Questions by Twitter ✔️
Twitter question no 1.
Username : @Rahul17567317
I have seen a panishment system allocated on CURE, What is it? Also how a community member gets Panished on CURE?Can you share us more details?
After you successfully stake your CURE-LP tokens, all of them will be used to generate liquidity. Now since CURE will only mint 800,000 tokens, users will be able to farm CURE without worrying that the price will go down due to constant minting, leading to inflation. When users farm, they are “rewarded” with the tokens that are only going to appreciate in value due to the positive market pressure. On the other hand, if users decide to unstake, they will be “punished” by losing 99% of their LP.
Twitter question no 2.
Username : @y1sus_afp
What have been the farming pools that CURE has created to innovate in this aspect of decentralized finance? What will be the tokens that together with $CURE will be part of these pools? What will be the benefits that these pools will bring to CURE FARM users?
Currently we have 48 farming pools. And we plan to add new pools to the current list at a rate of 12–18 pools per month. The purpose is to get more people involved in this project. Not only do we include conventional pools such as ETH pairs and more popular single tokens, but we even include pools such as BAB and MIB, tokens that people tend to consider less lucrative otherwise. We want to convince you that CURE could be a safe and profitable “vault” for you to stake tokens of any kind and harvest something out of it that could worth much more.
Twitter question no 3.
Username : @socsonz1
Farm mode on CURE is done according to which algorithm and technology?
As for geek stuff, our team looked at a lot of crypto projects on the market and took reference here and there to create CURE, which we think might be most beneficial for users. We forked CORE Vault’s algorithm that users are able to practice yield farming through providing continuous liquidity by ensuring liquidity influx outflows efflux. Team CURE plans to introduce more profitable options for our users in the future such as lending feature and CURE vault.
🌍 Community ask question by Website 👨💻
Website question no 1.
From : hoang
Currently, the abuse of cryptocurrency is a lot, many application failures have made hackers invade and take away many assets. What do you think about this issue? Can I trust the security of CURE Farm?
Indeed, cybersecurity has been particularly important and vulnerable for the crypto space due to its open source nature. Even the hardest rock could be cracked open by a tougher hammer. We have seen tons of popular projects, like pickle finance and yearn finance, getting hacked while having no measures to protect themselves. It’s safe to say that no project could guarantee 100% of its users’ security. But what I would suggest is that first DYOR. And then acknowledge that investing in the crypto space is essentially a risky move and leverage your equity to see if you could take the risk.
However, you could trust CURE’s security for sure. we take user’s security seriously. Once liquidity is added, they cannot be removed from the CURE Uniswap LP pools because we will add a 90-day liquidity lock and a 24-hour timelock on CURE. Our team is willing to get the whole community involved in contract auditing, therefore we decide to make CURE an open-source project. CURE’s contract code can be found on Github.
Website question no 2.
From : Carlos
Cure has a token buyback or burning mechanism? How often will token burnings happen and how many tokens will be burned?
Yes. CURE has a “automatic” burning mechanism, meaning that whenever you stake your tokens, the lp will be “automatically” burned to provide liquidity.
Website question no 3.
From : @JesusFre1tes
All the ills of democracy can be CURED with more democracy. -Al Smith
This is an interesting quote they have made on their Twitter. What has been the voting strategy that CURE FARM has created to democratize all the operations and performance agriculture of the platform?
I like the quote that my colleague shared with me the other day. So we decided to use it to promote our launch on voting strategy platform snapshot. So right now we are still in the early stage of developing DAO community as snapshot is pretty much the only tool that we use.
✍️ Telegram live Questions answered by CURE Farm ✔
DANIEL MAX 🔥🔥:
What is your top 3 things for priorities in 2021? Could you share some plans for the upcoming year?.
Top 3 priorities for CURE: Developing DAO community. CURE app development. Lending feature release. We are already in the early stages of developing DAO community as snapshot has been created at https://snapshot.page/#/curefarm.eth. We will add more DAO features such as bug bounty program, co-dev progran etc. in the future. For CURE app development, the testing beta is now scheduled to begin early May but the release date is TBD. As for the lending feature, that will come after we secured the smart contract coverage and have enough liquidity to ensure lending capacity and safety.
Considering that your project is called “Cure”, what existing problem on the crypto community you aims to cure?
The incentives of DeFi and farming various tokens have been flawed and short minded. The mission of CURE is to change that. Currently minting tokens to pay people farming is a trend largely spreading through the DeFi space, sadly people do not understand that it is not sustainable.
The main goal for the team is to offer strategies to people in DeFi who are looking for new farming opportunities. In the past, projects have been creating these pooled assets to do this quite effectively, however there has been an underlying issue with the distribution.
Inflating coins in order to issue farming rewards has a negative pressure on the price. It will decline as the inflation fails to keep up with the hype. This is why so many coins fail after just a few days.
The team believes that maintaining a solid yield over a few years rather than a few days is a necessary step to grow the DeFi space further.
What is the strongest advantage that you think will make this team lead the market? in contrast, what weaknesses do you have and how does the team plan to overcome them?
Community consensus and our unique tokenomics. We all know that the community makes a project alive, and the community consensus makes the community united. CURE’s mechanism can ensure that CURE community have an incredibly strong consensus. If the community wishes to gain profit, then each community member will help CURE community grow. CURE creates incredible synergies between people farming the project and traders. On one side the farmers provide locked liquidity, increasing the price floor due to its fixed supply, on the other side we have the traders who are charged a fee on token transfers
As for weaknesses, I would say it’s the “conservativeness” of CURE since users are getting steady roi rather than burst roi from this project. It’s difficult to promote such safe projects in this already crazy crypto space.
Mal kha cha dil ✌️:
1-Increasing Token price 2- make Token Valuable 3-Building Community Trust From 3 aspects above,. I want to ask,. Which one the most important for you?If all above are important for you,. Which one that Will you do first??
Building Community Trust will always be the top priority since we want to make a project that benefits the community and revolutionize the crypto space. And that also will be the foundation for value appreciation of tokens. However, if one project only focuses on value appreciation rather than caring about its own community, things tend to go south most of the time.