AMA Recap 404 Daily Crypto with ApeGainz
Hello 404 Daily Crypto Community
On 17th April 2021, ApeGainz conducted an AMA in the 404 Daily Crypto. Our guest is ApeGainz Development Team.
Lots of questions as usual from the Community about ApeGainz progress. The ApeGainz team took part in a very interesting AMA session which included Project introduction and a live AMA session with the 404 Daily Crypto community. If you missed the AMA in person, read this recap for a deeper insight into ApeGainz.
Let’s take a look at the most interesting points of our conversation.
📍Session 1 » Project Introduction
Can you introduce yourself and your team please? We want get to know you and your team. What you did before crypto, and how you got into crypto?
ApeGainz Team: Absolutely! Before crypto, the ApeGainz development team was just your average joes, getting a university degree and chasing a career. But as I am sure many of us here have realized, the cryptocurrency and DeFi space can be quite liberating and exciting. Similar to many people we first heard about crypto through Bitcoin but really took a deep dive into the space through Ethereum smart contracts and after seeing the huge opportunity we went to learn more smart contract development and have worked on several projects for clients. With our skills honed since then, and being dissatisfied with the projects that are available we decided to create our own innovative platform, and so ApeGainz was born!
Can you tell the members a little about ApeGainz?
ApeGainz Team: ApeGainz is a gamified DeFi platform on the Binance Smart Chain powered by multiple smart contracts which just did a fair-launch and is only a day old! Players can enter a staking position with a single transaction to start earning FOREVER. We have several mechanisms that add to LOCKED liquidity which supports a “price floor” preventing issues such as impermanent loss and rug-pulls from occurring
Future ApeGainz Development will include further smart contracts and NFTS aimed to grow and sustain the platform as well as encourage community participation. Players will have the option to be more active and maximize their rewards or simply relax and farm forever.
Can you explain how ApeGainz and what kind of services it offers to users?
ApeGainz Team: Sure! Currently our biggest function is our farm and it’s quite simple!
1. Visit the ApeGainz Farm page.
2. Connect MetaMask wallet (more wallet support in the future)
3. Make BNB deposit into farm (minimum 0.03 BNB)
4. Start earning rewards which can be claimed at any time, FOREVER!
We have an ongoing NFT presale for the Harambe and Ape King NFTs that also have their own separate functions (more on these shortly!)
What products does ApeGainz have and in the future,will you add more products?
ApeGainz Team: Our current platform token is NANAZ 🍌
NANAZ is the token that is farmed by Chimpz and Harambe, they currently have a 3.33% tax on transactions which is sent to the King’s Gainz pool!
🌴Our first farm just launched on Friday 04/16/21!
Players invest BNB for Chimpz, the staking position of ApeGainz that can not be traded. Chimpz will then produce NANAZ for the player, FOREVER! Players can decide to claim or reinvest for even more Chimpz and increase their production! Chimpz produce 150 NANAZ per day split amongst ALL Chimpz holders.
- HARAMBE NFT
Players invest BNB to receive the Harambe NFT which can only be possessed by one player at a time. Harambe will produce NANAZ indefinitely for his owner. But be careful, another player can buy the Harambe NFT and take over any unclaimed rewards! The price to own the Harambe NFT will increase every time, ensuring the previous owner will get a profit if it’s purchased from them! Harambe is able to secure 8 NANAZ daily which goes entirely to the owner instead of being split up like the Chimpz NANAZ! Rewards will be claimable on 04/18/21, countdown can be found on the NFT page!
- APE KING NFT
Players invest BNB to receive the Ape King NFT which can only be possessed by one player at a time. The Ape King gets access to the King’s Gainz and can issue one of three commands to decide the fate of the pool! But be careful, another player can buy the Ape King NFT and take over any unclaimed rewards! The price to be King also increases again ensuring the previous owner will receive a profit if purchased! Rewards will be claimable on 04/23/21, countdown can also be found on the same NFT page!
And of course, in the future we will add more! We already have Bonoboz and Baboonz farms coming soon as well as the Chef DK and Monkey God NFTs! Stay tuned in our telegram for more information on these in the near future!
How do you solve liquidity issues and how to ensure user asset security?
ApeGainz Team: Sustainability is important: Our entire platform is built around the locked liquidity 🔒 We have made sure the liquidity pool will outweigh the inflationary sell offs that will occur Burn mechanisms are in place to lower supply and maintain ROI as well as keep inflation in check with more to come later! NANAZ will have many more uses in the future such as DAO abilities to vote on certain changes our players want to see.
Here is a brief overview of our current locked liquidity mechanisms:
— Chimpz: Invested BNB is used to purchase NANAZ and add to the locked liquidity
— Harambe: Part of the invested BNB is used to purchase NANAZ and add to the locked liquidity
— Ape King: Part of the invested BNB is used to purchase NANAZ and add to the locked liquidity with the ability to burn supply if the King chooses
As you can see this all supports the price floor for NANAZ. For further details on these please check out our telegram!
For ensuring asset security, here is the BSCscan for the NANAZ liquidity on PancakeSwap, as you can see almost 80% of the liquidity is locked in the 0 address. Of course, nobody can touch anything from that address!
The 19% currently showing is the initial liquidity provided. This amount is vested and we have no plans to remove it. This was, of course, a necessary component to provide initial liqudity that will last, and will continue to diminish as the platform grows and more players continue to get involved.
Have you met all your goals in the roadmap till now?And were there any difficulties that you didn’t expect and were not prepared for?
ApeGainz Team: All goals have been met until this point! We have many things planned around the corner and will deliver on those promises as well!
There will always be a bit of market based uncertainty as people are free to do what they would like and this project relies on its community!
The most difficult challenge for us has been trying to balance the NFTs. We want them to feel special and have worthwhile functionality that makes them appealing but does not affect platform sustainability. We are really trying to innovate on that and the future will prove this!
📍 Session 2 » Community Questions (Live AMA)
Telegram User @JoanaZ
In your Whitepaper says that the monkey king have 3 commands : SAVE, GREEN and BURN, so can you explain what are this command exactly? Are permissions to unique services?
ApeGainz Team: Hello Jade! Thanks for your question, originally only the Ape King was supposed to know what the commands will do, and if they wanted to share with the community they could! However Ape King NFT price is currently 28 BNB so we decided to make the King’s Commands public knowledge to avoid any misunderstandings!
Here is the functionality of Ape King’s Commands:
*10% of NANAZ in King’s Gainz goes to future platform development and marketing
Save: Ape King receives 50% of NANAZ in the King’s Gainz; 40% is added to the NANAZ locked liquidity
*Gainz Tax on NANAZ remains unaffected
Greed: Ape King receives 90% of NANAZ in the King’s Gainz *DISABLED FOR FIRST KING’S COMMAND
*Gainz Tax on NANAZ is set to 0% for 5 days and then reset to 1%
Burn: Ape King receives 50% of NANAZ in the King’s Gainz; 40% is burned forever
*Gainz Tax on NANAZ increases by 0.1% (24HR CD; 5% maximum)
Telegram User @Uamos
Between HARAMBE NFT and APE KING NFT, which is the one with the highest value and uses?
ApeGainz Team: Hello Moises! Continuing on the topic of NFTs, the Ape King NFT was designed to be more appealing and rewarding!
However, this is not to say take away value from the Harambe NFT. Having access to ALL the NANAZ which Harambe produces is appealing as they do not have to be shared unlike Chimpz!
Having this reliable stream of rewards incoming will make it appealing for other potential investors who wish to have access to these features, which will benefit the previous owner with a BNB profit if purchased from them. Also as we mentioned, part of the BNB is used to add to the NANAZ locked liquidity as well, so everyone wins on each transaction of the NFTs!
Telegram User @DTryasari
Competition is an trully arena to prove a project is worthy to get the attention of the audience. in the end, let the “Product Speak”! As supporter, what can we do to help bring the masses to the project? And for me personally, may I write an article about APEGAINZ PROJECT on my Reddit, Steemit or my other social media ? of course by request your permition first sir
ApeGainz Team: Hello, first and foremost thank you for the question and of course you have our permission to create articles and promote on social media. This is extended to anyone and everyone who wishes to spread the word of our great project! Don’t forget to include your referral link found under the ApeGainz dashboard so you can get 7% on all BNB deposits made under your link! The more players that join the platform, the greater the success of the project and everyone wins!
Regarding competition, hopefully from our AMA today you can see that ApeGainz is innovative and a one of a kind type of project in the BSC DeFi space! And as you said, with time the product will speak for itself!
Telegram User @Demvrick
how did TVL come down in this? is this based on NANAZ / BNB prices?
ApeGainz Team: Hi Demvrick! There are many factors that impacts the TVL.
The TVL going down is largely based on the free market such as Supply and Demand on NANAZ as well as the USD value for both NANAZ and BNB.
We are strong believers of the Binance Smart Chain and believe the value still has room to grow. And of course, ApeGainz itself has even more growth potential! The project is only a day old and TVL is already above $170,000!
Telegram User @stehrewald
Are you planning to Burn / Buyback NANAZ Tokens to increase their value and What is your Utility Token in the ecosystem?
ApeGainz Team: Hey Sasha! Thanks for participating. We originally minted 10,000 NANAZ tokens.
66% was added to the initial liquidity
33% was reserved for marketing and events, however the project has seen great success and surely we don’t need all 3000+ NANAZ, so we do have plans for strategic burns.
Regarding buybacks, we do already have mechanisms in place some of which are automatic (Chimpz compounding) and with other strategic buybacks that will be done manually. In fact, we’ve already bought back more than 15 BNB worth of NANAZ. Upcoming features on ApeGainz will further add to this!
Telegram User @Uamos
Based on what you considered setting the 8 NANAZ that the Harambe NFT can generate? Why not generate at least 25 NANAZ instead of 8?
ApeGainz Team: Hello again Moises! Thanks for your unique questions, although 8 may seem like an odd number (techinally even 😂), it was chosen with platform sustainibility in mind. Please remember there will be utility of ONE person receiving a static amount of NANAZ. versus receiving a percentage based on chimpz production. Having a guaranteed static amount will allow for harambe to be used in specific ways in comparison to owning chimpz that only allow for dynamic percentage based NANAZ production.
Telegram User @ngarokkauni
Sorry if its a silly question but im having a hard time wrapping my head around where the BNB comes from, do chimpz provide liquidity in a market somewhere?
ApeGainz Team: Hey there! No need to be sorry, we are happy to answer any question regarding ApeGainz! As mentioned, when players use BNB to purchase Chimpz, the BNB is added to the NANAZ/BNB liquidity automatically by the smart contract
Here is the exact investment allocation for BNB deposits on Chimpz:
• 90% Chimpz (45% buys NANAZ and other 45% is added to the locked liquidity)
• 7% Referrals
• 3% ApeGainz Marketing/Development
Telegram User Devid James
So many Rug Pulls heppenig nowdays. and almost 90% project with anonymous team do rug pulled. How can we sure that You are not like them and we can invest in your project safely?
ApeGainz Team: Hey there Devid! We do understand your concerns, experiencing multiple rugpulls ourselves as investors. We could say that having experience that, we would never wish that upon our community. We have spent an incredible amount of time planning and creating this project along with future updates, as well as creating multiple unique smart contracts from the ground up.
I can not express enough the uniqueness of our project in the BSC DeFi space, as most projects simply steal the code from another project with slight modifications.
But we do note expect you to simply take our word! Due to how the blockchain works you could check the transactions and verify for yourself that everything is functioning as it should.
Of course we are also open to other suggestions that can improve confidence without comprising the integrity and security of the project.
Finally I would like to remind you that you can see on BSCscan almost 80% of the NANAZ liquidity is locked in the burn address 0x0000000000000000000000000000000000000000 which is IMPOSSIBLE for us to access. If this is not enough to earn your trust, we simply ask you to check back on us periodically and hopefully you can be a winning player as well!
Telegram User @Tony253210
Apegainz uses a Multi Token architecture, with the CHIMPZ and the NANAZ, so can you please explain us what are the differences between both tokens? What are the usage of each one?
ApeGainz Team: Hey there Sen! Actually our only tradeable token for the moment is the NANAZ 🍌 Chimpz are NOT tradeable, their usecase is to determine the amount of NANAZ each player will earn daily based on the amount of Chimpz they own in proportion to the total amount of Chimpz!
Currently this is their only usecase, however without giving away too much about our plans we can say there will be another use for Chimpz!
Similarly, NANAZ currently serves as the farmable token which can be exchanged. This is their only functionality for the time being but as mentioned in an earlier answer, we have plans for further usecases such as DAO voting rights and maybe even uses outside of the ApeGainz platform 😉
Telegram User @MedrinaDe66
“While you build your project.. do you take into account community feedbacks and demands?What’s role play community on Your project?”
ApeGainz Team: Hey there Medrina! Without a doubt we take community feedback very seriously. We have already made website updates to increase the clarity of the platform based on frequently asked questions. Another huge feedback point is an issue where you need to reconnect your wallet, we are aiming to have this fixed by early next week! We carefully watch videos and read any comments regarding our project and take everything into consideration to make the best community possible, as they are crucial for us!
Thank you for answering questions from our community. Before the end of the AMA, maybe you want to say something to our community?
ApeGainz Team: Sure! Just a recap of our project:
🐵ApeGainz is a fair launch DeFi (Decentralized Finance) platform on the Binance Smart Chain powered by multiple smart contracts where players can enter a staking position with a single transaction to start earning NANAZ🍌FOREVER⏳
🚀LAUNCH: Friday April 16 2021
😊Simple! Just one click to start farming. Overview of everything in the dashboard.
🔒Secure! LP tokens created through ApeGainz are burned resulting in:
— Locked Liquidity
— No Possibility to Rug-Pull
— Impermanent Loss is non-existent
📈Sustainable! Current+Future Farms/NFTS have mechanisms that support token prices, increasing price floor (buy backs, burns, further locked liquidity)
— Chimpz produce NANAZ🍌
— Bonoboz produce❓(Coming Soon)
— More to come!
— Harambe produces NANAZ🍌
— Ape King can choose King’s Command
— More to come!
🐒 These Apes will never stop, working hard to produce for you FOREVER 🐒
🍌NANAZ can be exchanged on the Pancake🥞Swap DEX at any time 🍌
👯♀️ Referral Program: Earn 7% on all BNB deposits made under your referral link, delivered to your wallet instantly!
*You must be active in the farm in order to receive referrals*
🎊 Community events and airdrops! Stay tuned for news of launch event! 🚀
For more information and future AMA, join our Social Media channels:
► 404 Daily Crypto Group: https://t.me/DailyCrypto404
► 404 Daily Crypto News: https://t.me/DailyNews404
► 404 Daily Crypto Twitter: https://twitter.com/404DailyCrypto
📍 More information on ApeGainz:
❇️ Website: https://apegainz.finance/
❇️ Twitter: https://twitter.com/ApeGainz
❇️ Telegram: https://t.me/ApeGainz
❇️ Whitepaper: https://apegainz.finance/assets/Whitepaper.pdf