AMA Recap 404 Daily Crypto with Oven Token
Hello 404 Daily Crypto Community
On 13th June 2021, Oven Token conducted an AMA in the 404 Daily Crypto. Our guest is Oven Token team.
Lots of questions as usual from the Community about Oven Token progress. Oven Token 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 Oven Token.
Let’s take a look at the most interesting points of our conversation.
Q1. Can you briefly introduce OVEN to our community? And how is the story behind the OVEN creation?
OVEN is a BSC project which began as an inside joke. Our CEO, Marcelas Amelang, had been an active investor and contributor at various crypto projects. Later on, he saw the positive impact projects had in the world. He then decided to act on the joke and make it become reality by creating a token. With this token he tries to help charities on topics he cares deeply about, namely: helping people who suffer from hunger and helping combat climate change. That’s also where the name OVEN comes from. Baking meals for people who can’t afford food and battling the heat of climate change.
Q2. What is so exciting about OVEN, which might make OVEN different from all other projects out there?
The special part about OVEN is that we know exactly what we want to achieve and that we know how to achieve it. This also stems from the experience Marcelas had gained and the contacts that he made while working in crypto teams. We have many experienced team members who have had previous contacts with exchanges, Coinmarketcap, Coingecko, YouTube/TikTok/Instagram/Twitter influencers and even charities. Because of this, OVEN has been able to achieve many goals ahead of our schedule.
Q3. Please provide some information about your Roadmap, How OVEN is progressing so far? And what OVEN is currently focused on?
It’s going great! So for this quarter we had planned to: launch the website and all our social media channels, create and start executing marketing plans, getting an exchange listing and make our first donations to charity; and we reached all our goals so far. We even started working on our goals for the next three months already because we are ahead of schedule. You can find our roadmap on our website www.oventoken.com
Q4. Please tell us more about OVEN token! What utilities does the token have, and what benefits will tokens holders get?
Another reason why our token is named OVEN is because of our insane burn rate. We have a 20% tax rate on all transactions; 7% goes to all our current holders and 13% gets added to the liquidity pool. So 7% of every transaction goes to our current holders which makes us have one of the highest redistribution rates on crypto. Every week, 70% of the newly added liquidity will be removed from the liquidity pool. Half of these tokens will be used for operational costs and charity donations and the other half get burned. Because of our high burn rate, our unofficial slogan is also ‘’Feel the burn 🔥’’.
Q5. What are some achievement that OVEN has achieved so far? And what are OVEN upcoming plans, Especially in 2021?
So we already mentioned some of our achievements so far in the previous question. We have many plans for 2021, but the biggest ones and the plans that we are most excited about are: starting corporate partnerships, starting long lasting charity partnerships, getting top 50 exchange listings and even starting our own OVEN merchandise! Yes, hopefully everyone will be able to buy their own OVEN shirts and hoodies soon!
About $OVEN Smart Contract, are they fully transparent & trustless? Has $OVEN smart contract been audited? If so, could you tell & share with us any of your audit reports?
Yes we have! We have been audited by Certik two days ago, which is the most valid and relevant audit you can achieve. We shared the full audit report on our telegram, so please feel free to join our telegram so you can check the audit yourself!
What is the plan $OVEN to ensure sufficient liquidity on exchanges to fill market orders, especially as adoption increases and clients begin multiplying year-over-year ?
Because we have high transaction fees, we have quite some money to work with. As stated earlier, 13% of the 20% transaction rate goes to the liquidity pool and we take out 70% of the newly added liquidity every week for burning and costs. If needed, we can use part of that money to add to liquidity.
For project development, the main priority is to have sufficient funds. Is your team financially able to carry out this project? Do you have sufficient funds for development? Can you tell us how $Oven is turning a profit?
Right now OVEN profit is coming from transaction fees. Because of the high fees, the funds that we receive right now are sufficient. For the future however, we have planned to increase and diversify our income streams. We want to do this by partnering with multiple corporations and starting our own OVEN merchandise. Having multiple income streams will ensure that OVEN will keep having sufficient funds as it keeps on growing.
Many new projects made a good impression at first, but were suddenly abandoned. How will you manage the project and token to gain a foothold in the market and become the best token in the blockchain world?
The speed at which a coin is reaching its roadmap goals is a good indicator of how the coin is progressing. In that regard, OVEN is way ahead of schedule and already started working on the goals that the team has set for September 2021. Next to that, one of OVEN’s main goals is to help charities the CEO cares deeply about and that is going great as well. Last week our donation provided for 3333 meals for children. There’s no need to stop if there’s so much more that we can do!
Community support is one of the biggest aspects of a project’s success. Most projects have programs that interact with their users. Do you have specific plans to attract and expand the community and improve the user experience?
Yes we try to keep our community engaged in various ways! A few days ago we had a $1000 giveaway to celebrate us having 2500 holders; members just had to like our tweet, follow our twitter account and post their wallet to participate. A few days before, we gave away 100 billion OVEN to someone who bought any amount of OVEN (it didn’t even need to be much). A few days before that we had an activity contest: the top 10 most active members got billions of OVEN tokens. We always try to come up with new way to keep our community engaged and because we have a young team, there’s lots of creativity we can draw from!
I believe that projects with a strong vision for the future will survive. What exactly is DeFi’s vision for the future of your project? How do you and your team prepare for it?
Hi, If u visit our website https://oventoken.com there is our roadmap that contains all our future plans
I believe your project have a good team that is ready to get the job done to the maximum, will you take into account the opinions, contributions, ideas of your community members at any time ?
Thanks for your trust! Yes, we often ask the community for feedback and ideas on how to improve OVEN. Join our chat, become part of the community and let us know what your ideas are!
Which do you think is more important:
C. Token Price
If all of the above is important to you, which should come first?
Personally, I think each one is important as they cover an important part of a successful project.
Who is the target for your project? Apart from Blockchain users, does your project have any plans for non-crypto users as well? If so, how can you attract them or what are your plans to attract them?
Yes we have! So we are planning on launching our own OVEN merchandise and getting partnerships with corporations as well this year. So stay tuned!