StaysBASE AMA Summary with Decentralized Club ✔️
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Dear, Community,
Welcome to the recap of our AMA with StaysBASE.
Our vibrant and enthusiastic community had a lot of questions to ask. To those who want to know quickly what StaysBASE is about, we are sure this recap is gonna help you. So without further ado, continue reading 😉
✔️Introduction with StaysBASE :👉
| DK | 🌿 | Never PM/DM First 🐞 Decentralized Club:
First question of Introduction
1. Could you introduce yourselves and tell us about your background?
Patrick:
Sure!
walkeraki | CEO | no giveaways:
I am a software engineer at StaysBASE and Vox Finance. I’ve been working in several well known firms across Europe and I am mostly into web and mobile development. For the past 2 years I worked as an Automated testing engineer. I came into the crypto world in 2015 with a small bitcoin investment and later on created a DeFi token named VOX. I fell in love with crypto and now I am trying to contribute to it as much as I can. I think we are still early and there is a huge potential to grow..
Patrick:
I am Patrick and I have been employed in the mobile app development sector for the last few years and have since started exploring new opportunities in blockchain. I am a long time crypto investor (started in 2014) and advisor for digital currency startups. I really think that crypto is the way to go and as we can see now, the whole crypto ecosystem has really shook some old foundations in the financial sector and I love it. Decentralization for the win! I am really excited to be a part of the StaysBase team where I work as a Product & Strategy Manager and I believe that we will continue to do great things together!
| DK | 🌿 | Never PM/DM First 🐞 Decentralized Club:
Very Impressive👍👍
Next question…
2. Please tell the community what is Staysbase (SBS) in detail?
walkeraki | CEO | no giveaways:
Thanks :)
Patrick:
Sure! StaysBASE is based on the concept of Base Protocol, while taking it a step further!! While Base Protocol (BASE) is essentially a token whose price is pegged to the total market Cap of Cryptocurrencies; StaysBASE takes the concept further by bringing the The World Stock Market and Gold Market into the picture. StaysBASE is pegged on the average of the Cryptocurrency Market Cap, The World Stock Market Cap and the Gold Market Cap.
For example, let’s say
The Crypto market cap increases +10%
The Gold market cap increase +5% &
The World Stock market Cap decreases -3%
The average of the three = 4% There will be a 4% total Increase of the Supply of StaysBASE Token.
| DK | 🌿 | Never PM/DM First 🐞 Decentralized Club:
Amazing😍
Next question..
3. We are so curious about $SBS, could you please tell us about $SBS, its total supply, its features, and where we can buy it?
walkeraki | CEO | no giveaways:
StaysBASE is a synthetic asset with a supply of 4.265.359 tokens. Synthetic assets’ properties have the same value as another pre-decided asset. In the case of StaysBASE, it emulates the market patterns of the Three Markets — Crypto, Stock and Gold. The average of the three is taken as the underlying asset, allowing traders to speculate on the total change in all markets, rather than just one asset/market or a select portfolio.
StaysBASE works on an Elastic Supply Protocol. What this means is that the supply of StaysBASE is determined by the equilibrium condition. The target price of StaysBASE is based on the market caps. Now when these four values are not the same, the protocol increases or decreases the supply of StaysBASE.
Users are be able to buy StaysBASE at its Julswap liquidity pool. The StaysBASE Cascade rewards users who stake their StaysBASE in the liquidity pool. The Cascade issues rewards based on how long a user stakes their tokens in the pool — where the more liquidity provided, and for longer, the greater share of the pool they receive.
Being pegged in 3 markets and taking their avarage has the advantage of mitigating bearishness of single market
| DK | 🌿 | Never PM/DM First 🐞 Decentralized Club:
Amazing 😎 It shows a lot of transparency
walkeraki | CEO | no giveaways:
Thanks
| DK | 🌿 | Never PM/DM First 🐞 Decentralized Club:
4. What is the most significant difference between StaysBASE and other projects? What steps will Staysbase take to stay on track?
walkeraki | CEO | no giveaways:
Let me also add we are first rebase protocol pegged into 3 markets on BSC blockchain
The most significant difference between StaysBASE and other projects is that it reflects three different markets instead of just one.
It builds upon the foundation made from the original rebase protocols and upgrades it with the unique feature of being connected to three markets simultaneously (crypto, world stocks and gold). Daily movements are weighted out and the rebase calculation considers the average of all three markets to create a healthy foundation for the token economy.
The StaysBASE Protocol acts as a one-stop trading instrument which allows holders to speculate on the entire crypto industry, world stock market and gold market simultaneously, rather than just one token or a select portfolio of multiple. StaysBASE is supposed to be a more holistic reflection of all the three markets.
| DK | 🌿 | Never PM/DM First 🐞 Decentralized Club:
Ok, Cool 😎
Last question of Introduction
5. Why did you choose BSC blockchain as opposed to Ethereum blockchain?
Patrick:
This is a very important question, yes :) Our platform is built on BSC instead of Ethereum blockchain offers almost zero fees and transactions are almost instantaneous. During this BTC and ETH price surges we can see gas prices skyrocket and we believe that to be still a great problem in the Crypto sphere. We are eager to fix this problem.
That is why we’ve decided to create a unique platform on the Binance Smart Chain. Imagine paying only cents for all transfers and interactions with contracts. All of that is accessible on BNB and with our project we are giving the people a new use-case to join the faster, cheaper and more scalable blockchain.
| DK | 🌿 | Never PM/DM First 🐞 Decentralized Club:
Thank you @walkeraki @chung4lunga ,super insightful and very easy to understand.
🐧Community ask Questions by Twitter ✔️
| DK | 🌿 | Never PM/DM First 🐞 Decentralized Club:
Twitter question no 1.
Username : @Charles04474580
How efficient and secure is your platform? Have you ever been audited through the external parties?
walkeraki | CEO | no giveaways:
Code is forked from BASE protocol which was audited by many third party companies. We are in a DeFi space for some quiet time where we made some of our own projects and advised on several others. We are confident in our knowledge as backend programmers and we rely on past experience to deliver the most safe and secure platform there can be.
| DK | 🌿 | Never PM/DM First 🐞 Decentralized Club:
Twitter question no 2.
Username : @TonyMon253
I just get noticed that StaysBase recently has done a lot of ama sessions in many Telegram places, so Staybase has increased your popularity or Have you noticed that the platform has grown thanks to these events?
walkeraki | CEO | no giveaways:
AMAs are a great way to spread awareness of our project. We are only selecting good AMA groups so we get nice healthy community. We have learned on our previous project VOX that community play important role in every token.
| DK | 🌿 | Never PM/DM First 🐞 Decentralized Club:
Twitter question no 3.
Username : @Rosanela08
When a token is ‘pegged’ to an asset it means that the equivalent in that asset is held somewhere ensuring that value. How do you back the value of StaysBASE, if it is settled by all the World Stock Market, Gold Market and Cryptocurrencies?
Patrick:
We are using several different oracles for delivering data.
We are fetching data for crypto market cap from over 5 providers, namely: coin market cap, nomics, coin codex, coin paprika, on chain fx, live coin watch, coin lore, coin tracker
For the stock market: alpha vantage, polygon io, twelve data, yahoo finance and market stack
For the gold market: goldapi, metals api and rapid api
| DK | 🌿 | Never PM/DM First 🐞 Decentralized Club:
Twitter question no 4.
Username : @DipMondol
Many investors focus on the price of token in the short term instead of the real value of the project. Can you tell us the motivation and benefits for investors in the long term?
Patrick:
Rebase protocols have a unique long-term preposition — because of StaysBASE’s dependency to three different markets, namely crypto, stocks and gold, holders can speculate on the value of the token price before rebase calculations happen. This makes it interesting to buyers and gives it a unique purpose in the crypto market. Along with that, we will offer our “cascade” or staking platform where people will be able to stake LP tokens to receive even more rewards — locking in liquidity to provide lower slippage to DEX users.
I think the fundamentals of the project are more than beneficial to both early supporters and newcomes and should provide good long-term value for all investors.
| DK | 🌿 | Never PM/DM First 🐞 Decentralized Club:
Twitter question no 5.
Username : @tho93316566
You organized an AMA session very rewarding and received a lot of questions related to utilities and technology, future vision, …So now I want to ask what do you want to receive from the community?
walkeraki | CEO | no giveaways:
We want community to give us a chance and recognize all the hard work we are putting in our project.
Patrick:
We have received a really great feedback right from the start, and all through the project. People really seem to like the idea of combining three markets into one token.
✍️ Telegram live Questions answered by StaysBASE ✔
Amber de la Rosa 🌻:
I read the litepaper but I couldn’t see any road-map you prepared why is that?
walkeraki | CEO | no giveaways:
We are going live on 14.01. with the full platform and the first rebase will be conducted 24 hours thereafter. We will be the first IDO project on JulSwap and Binance Smart Chain so that is already a unique milestone on our roadmap.
Thereafter we will be enabling different staking possibilities for our users and also seek out new partnerships with other prospective projects in the cryptosphere.
We have quite a few innovative ideas prepared for Q1 and Q2 of 2021 and hopefully we can share them with you as soon as possible. Keep an eye out on our twitter for announcements.
Amber de la Rosa 🌻:
What lessons did you get from VOX.finance experience ? I see you have same AMA rally for StaysBase like you do for VOX.
walkeraki | CEO | no giveaways:
We learned a lot. From marketing to community management. I personally was surprised on how much community has the impact on platform development.
Rahul Jayaraj:
Instead of simply focusing on the short term price of the TOKEN, let’s focus on the real long term value the project has to offer. Can you please give us some reasons, motivation or advantages investors would get in the long term?
walkeraki | CEO | no giveaways:
We are going to bring investors from other markets as well! People from gold market and stocks markets will be coming in cryptocurrency world through StaysBASE project
Cassiterite:
Security is most important,
What are the security measures of STAY BASE ?
walkeraki | CEO | no giveaways:
We have hired one of better backend developers and with the experience from other projects we did I am certain we built a scalable, transparent, optimized and secure platform!
Clifford:
You can collect the data for gold and crypto caps but where do you get the data for the World Stock Market Cap?
Patrick:
For stock market cap we use 5 different Oracles: alpha vantage, polygon io, twelve data, yahoo finance and market stack :)
Manugotsuka:
🟣 Julswap Will conduct a IDO today, so there exists any pre-requirement or something to participate on It?
Patrick:
No pre-requirements are needed. Only follow this tutorial https://twitter.com/JulSwap/status/1346774459391365125?s=20 and you will be able to participate :)
Pinja:
What are the types of users on your project?
How do you keep all users to stay with your project for the longterm?
Patrick:
Rebase protocols have a unique long-term preposition — because of StaysBASE’s dependency to three different markets, namely crypto, stocks and gold, holders can speculate on the value of the token price before rebase calculations happen. This makes it interesting to buyers and gives it a unique purpose in the crypto market. Along with that, we will offer our “cascade” or staking platform where people will be able to stake LP tokens to receive even more rewards — locking in liquidity to provide lower slippage to DEX users.