AMA Recap 404 Daily Crypto with Cake Tools
Hello 404 Daily Crypto Community
On 20th April 2021, Cake Tools conducted an AMA in the 404 Daily Crypto. Our guest is Cake Tools Team.
Lots of questions as usual from the Community about Cake Tools progress. The Cake Tools team took part in a very interesting AMA session which included Project introduction, Questions from Twitter 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 Cake Tools.
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?
Mr josh | Cake Tools team : Thank you for having us today. I have over 5 years of experience working in data science. Previously, I was the Chief Data Scientist at Guru, where I analyzed data from some of the biggest enterprise and networks in the world to educate the market on long-term internet trends.
I am also a 5 year veteran of online marketing and stock trading who has more recently turned to sharing my experience, strategy and knowledge with the cryptocurrency world, both as trader and adviser. Providing extensive, in-depth and analytical advice and insight at all levels and has previously supported a host of successful projects helping them to generate tens of thousands of bitcoins and other cryptos.
King Dave | Cake Tools team: Thank you I am david Eze and joshua otti cofounded caketools , we have in our team 3 solidity devs,chief marketing officer, and more than 10+ community mangers , I personally have been into Blockchain technology since 2015 and I have been involved in so many startups and invested in many reputable projects
Can you briefly describe what is CakeTools? We would like to know more about it and how it works.
King Dave | Cake Tools team: Cake Tools is a defi charting hub built on binance smart chain, provides the community with data aggregated from all decentralized exchanges on Binance Smart Chain. Users can leverage our product to analyze market movements, track the growth of BSC projects, and develop profitable investment strategies.
users will be able to view charts ,liquidity levels on pancakeswap and many more dexs
How was the idea to create this project born? It is very interesting. What do you want to achieve?What are your expectations?
King Dave | Cake Tools team: The rise in Ethereum use cases created a problem: high gas fees. These high gas fees make it impossible for traders to perform and complete transactions with ERC-20 projects over the Ethereum network
The Binance Smart Chain offers a flexible platform for developing high-performance decentralized applications. It is a blockchain optimized for fast trading and low network fees.
With the DeFi ecosystem being the hotbed for many projects and users saying goodbye to the transaction hassles of the Ethereum network, there is a high influx of users into Binance Smart Chain.
However, users have no access to tools to get real-time data on pools, liquidity, and volumes. This is the lacuna Cake Tools has come to fill.
How has the experience and background of your team been effective in the success of your project so far?
King Dave | Cake Tools team: we carefully choose our team and have been working on a common idea, understanding and the need for the community to have a solid charting tools not just analytics but we have full pack of new innovations we are rolling out, and we can boldly say we are doing great in our product development.
Can you give an overview of $CKT Token tokenomics? Will the design of the token rise and fall with the success of the platform,does it include any scarce paths,such as equity, storage or burning?
King Dave | Cake Tools team: CKT is the native token of caketools.io, which will be used to unlock the full features of our DApp. Unlike many DeFi projects, CKT will transcend being an idea on a white paper to a digital asset with real use cases. with a total supply of 150 million, ckt will deflationary as we have burning mechanism to reduce the number of ckt in circulation, holders will be able to get rewards for holding strong (diamond holders).
Could you please provide some progress on CakeTools and what results CakeTools has achieved so far ? And any sneak peek into 2021 plans for CakeTools?
King Dave | Cake Tools team: we have our product almost at 90% and from our road map we are close to listing and if you look at our road mao you will see our private sale is on going and IDO will happen in a few weeks from now.
here is a sneak peak of our product
📍Session 2 » Question from Twitter
— Question from Twitter @Geri26221330
Could you explain some of #CakeTools recent great achievements, partnerships and long-term plans?
Mr josh | Cake Tools team: We have successfully partnered with bsc news and several other companies which will guarantee longevity of our product. Cake tool as a smart utility app will provide quick updates on all bsc analysis and transactions. We have also secured top launch pads for our upcoming IDO
— Question from Twitter @LamaAsu1
Many projects are just projects that make deceptive promises created by cloning existing ones and are similar to existing ones. Do you have features that are unique to you, that you have developed and that make you special?
Mr josh | Cake Tools team: We have created an authentic project that is expected to last a long period of time. We are launching with a working product which is very essential to the bsc community hence , cake tools app as mentioned will be providing up to date Analysis for all Bsc transactions. We have also been a fully audited by certik to show transparency and longevity
There’s also accountability on the side of owners , as the team is not anonymous
King Dave | Cake Tools team: https://www.certik.org/projects/caketools
— Question from Twitter @Edoiraw1212
Tell me its 3 unique features that your competitors don’t have? How will people be attracted to your token?
Mr josh | Cake Tools team: We have an authentic audited contract to show transparency and longevity
King Dave | Cake Tools team: We aim to provide and maintain standard tools for DEX trading that would enable BSC users to:
• Get real-time data analysis
• Get real-time market movements
• Search and provide information about listed pairs on exchanges like PancakeSwap and BakerySwap
• See liquidity levels
• And lots more
Mr josh | Cake Tools team: We have a working product attached to our token which will continue to serve the crypto community on regular basis thereby bringing about steady traffic to cake tools.
— Question from Twitter @Andiadi57962861
in the future there will definitely be many platforms that continue to grow and what strategies will you do in developing your platform, especially at Cake_Tools to compete with other platforms?
Mr josh | Cake Tools team :Cake tools is community driven, We will be flexible towards developing on our community desires and also the trending market.
— Question from Twitter @andresukma__
Can you describe in detail current development efforts, market expansion plans, expected applications and when they will be available in the market?
Mr josh | Cake Tools team: We have already began promotions and marketing all social media platforms. We have also secured several partnerships and our IDO which will be coming up shortly. We will continue to develop our product in line with community goals as well.
📍 Session 3 » Community Questions (Live AMA)
Telegram User: How is the CakeTools interface graphically? Could you pass us some photos and show us a little more what CakeTools is all about?
King Dave | Cake Tools team: We aim to provide and maintain standard tools for DEX trading that would enable BSC users to:
• Get real-time data analysis
• Get real-time market movements
• Search and provide information about listed pairs on exchanges like PancakeSwap and BakerySwap
• See liquidity levels
• And lots more
and we have audit by a top blockchain auditing firm you can check our onbarding link here https://www.certik.org/projects/caketools
Telegram User: Do you have any idea to make available Cake tools in other ecosystems also ?
King Dave | Cake Tools team: yes we have that on our road map,we will have alternative chains like eth,polkadot etc
Telegram User: Southeast Asia is a very vibrant market and many project developed here so what do you think about Southeast Asia and do you have any plan to develop here?
Mr josh | Cake Tools team: Our market is global , we have all necessary tool on ground to make sure our services is spread across all part of the globe
Telegram User: To be a great platform for both Investors and for it’s users Transparency and security is important. Can you tell us some details about your transparency (like team members) and your security mechanism. Have you already completed the audit of your platform?
Mr josh | Cake Tools team: We have previously mentioned that our team is not anonymous, we have taken all necessary measures to ensure transparency and also a project that will last for a life time
Telegram User: How do you think the CakeTools team can overcome all the regulations that countries have? Do you plan to cover the whole market or focus only on a certain group of countries?
Mr josh | Cake Tools team: We have plans to cut across the whole parts of the globe and also paying keen attention to all crypto rules as concerned with each country
Thank you for answering questions from our community. Before the end of the AMA, maybe you want to say something to our community?
Mr josh | Cake Tools team: We are Pleased to have being part of your Community for these few mins. Users can join our Twitter channel and also telegram channel to get more updates about cake tools. We have alot of positive surprises in stock for people in our community
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 Cake Tools:
❇️ Website: https://caketools.io/
❇️ Twitter: https://twitter.com/cake_tools
❇️ Telegram: https://t.me/caketoolsio
❇️ Telegram ANN: https://t.me/CaketoolsAnn
❇️ Medium: https://medium.com/@caketools
