AMA Recap 404 Daily Crypto with Rug Busters
Hello 404 Daily Crypto Community
On the 8th of April, at 12:00 PM UTC (19:00 WIB). We just successfully hosted our 10th AMA with Rug Buster. With our guest from the Rug Busters team:
- Crypto Monkey, Rug Busters team
- Moonfaced Bull, Rug Busters team
Many of you might have participated or many of not, So here we are up with the AMA transcript for those who missed the AMA session.
Introduction Questions Asked By 404 Daily Crypto team
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?
So me and Crypto Monkey invested a lot into early tokens. Got the rug pulled a lot.
We realized that something needed to be done.
We invested a huge amount of time and energy into researching tokens.
We found a “Golden Formula” and started a community to help educate others.
The demand was HUGE.
we got overrun with questions about token x, y, z, and didn't have the time to meet the demand.
We got an idea, to start a token, to be able to grow this as a company. Hire more analysts, developers, etc.
Our audits are holistic and take a lot of things into consideration; source code amount of locked liquidity, founding team skills and credentials, telegram activity and growth, holder growth, what value the token provide(or tokenomics if its a memecoin), search volume on Google, activity on Reddit, Twitter, 4chan, etc.
The audits help people to avoid the rugs and find the gems.
The tokens functions as stocks in the company Rug Busters AND are needed for early access to our audits. Audits will be public but holders get to see them first.
We also plan to do an own launchpad and incubator. Launchpad to enable people to invest in rug pull free tokens, and incubator to help entrepreneurs successfully launch their own “companies”. We will be able to provide with marketing, operations, development, etc.
We have studied plenty of tokens, both memecoins, and serious tokens, and saw that a lot of serious tokens had a hard time getting traction(they were just focused on the product), while some memecoin succeded with huge growth due to enabling a “nice ride”, a funny culture with plenty of unique memes, videos, etc.
We want to combine the best of both those worlds.
We are a team of 12 people right now with skills within operations, marketing, development, and startups in general, both blockchain-related and “traditional” ones.
Personally, I have worked as a chief sales officer, chief marketing officer, and chief revenue officer in different tech and recruitment start-ups.
Live in Stockholm, wife and three kids.
I am a free spirit and really love the type of freedom that is possible in the world of crypto.
My partner Crypto Monkey has worked as a self-employed digital strategist for the last 8–10 years and has also been a professional poker player.
He also lives in Stockholm and has a son.
Hello everybody, Swedish Crypto Monkey here.
The rest of the team members are from different parts of the world such as Canada, US, UK, France, Check republic(how do you spell that lol) to name a few examples.
Germany and Austria as well.
We started just a couple of days ago.
Day 3–4 now. We have moved forward fast but still have a low market cap and few holders. The marketcap sits at 0.75 mUSD and we grew 178 % yesterday and also still under 300 holders.
The first 300 holders will get an NFT diamond helmet with an individual number(1–300). The diamond helmet will give access to the diamond club that will have some advantages — among other things access to audits before everybody else.
here is our chart and our contract:
RUGBUST PooCoin Charts
PooCoin live streaming charts DAPP for Binance Smart Chain (BSC) tokens.
I want to talk a little about the community.
The core value of our community is trust. That is why we are so strong.
Please do my man,
Watch this after the AMA, it describes us in a short and funny matter :)
This community started as safe haven where people could discuss different projects in a neutral environment.
I want to talk about our proof of work in the community.
So we have a reward system for members of the community that want to earn $RUGBUST
The simplest form is by joining our army:
We have daily quests where people earn $RUGBUST
Do we need to hold a certain amount of $RUGBUST to be eligible for the reward?
No, the meaning of this is that community members can grow their holdings by providing value to the community.
And using their time and energy instead of just money
We believe this is a gamechanger.
We want everybody to be able to join our forces and earn money. No matter if you are rich or poor.
For example — our army goes to raids every day. Raids will have different names(after famous battles). So one example could be the “battle of Stalingrad” where the ones that participate in the raid will get a numbered NFT Mosin Nagant (Russian rifle) — that will have some values attached to it.
Could you please tell us more about this raid?
The raid is about distributing our content and message through different platforms such as Reddit, 4chan, and Telegram.
To get the message out, finding people who want to do more safe investments, people who like what we do, people who want to be a part of our community, and of course investors that see the financial potential.
Look at our Trello:
Your browser was unable to load all of Trello's resources. They may have been blocked by your firewall, proxy or…
I think we have the only army in history that every time when it comes back from the battlefield — it is bigger.
28 people went to our first raid yesterday, now they are twice as many.
So our army doesn't go away to hurt people but finds like-minded who want to join the cause.
So it’s like a shilling army yes?
Can you explain other benefits that will be received by users who have entered the diamond club?
They will have access to our audits before everybody else.
278 holders right now. 22 spartan diamond helmets to go.
How does RugBusters intend to increase the value, utility, and liquidity of $RUGBUST token. thus producing a natural increase in the price of the token?
Early access to audits of new tokens will help people do good investments. The launchpad and incubator services will be paid for in $RUGBUST.
Holders of token will have access before audits go full public. The amount of tokens needed to be held isn't decided yet — but it will be depending on the current price. If the price goes down — the amount of token you need to hold goes up, and vice versa.
Thus incentivize people to buy the dip To keep “Pro Access”.
We also have huge ambitions for our project. Don't be surprised if we partner up with for example Binance later on, to assist in “cleaning up” the BSC and bring a better crypto investment experience to the audience.
I see lot of memes on your Trello, do you had a meme competition before or the community just made it for fun?
I think it just grew organically because we have a lot of fun in the community.
We do AMAs twice a day and really get to know each other.
We have just existed for like 3 days — so there's a lot of stuff like meme competition that we just haven't had the time to do yet
We move forward at an incredible speed. The core team is such people. We don't think and ask around forever. We get an idea and we DO, we implement it. If it works well — nice, if it doesn't, tweak and adapts — iterate.
This is a key to win for us and a factor behind our success so far.
When we started the community, we realized we couldn't handle the demand. A couple of days later — we had an own token.
That's how we roll. Getting thing done, momentum is key
It should be fun and fast to be a part of us.
If we speak again in a couple of months — there is probably a lot of new stuff going on, stuff I couldn't even imagine in my wildest dreams right now.
Questions asked by our 404 Daily Crypto community members during live Session to Rug Busters team
Q1 From Telegram username @ajibang1
Liquidity factor is a problem for DeFi projects with their tokens, so does $RUGBUST have any liquidity program to encourage natural token demand and liquidity?
We raised 200 BNB at presale out of which 70 % went to pancakeswap for liquidity. That's a lot more than enough for now. If this matter changes, we will provide more liquidity.
Q2 From Telegram username @panjab10
Almost 80% of investors have just focused on price of token in short term instead of understanding the real value of the project. Can you tell us on motivations and benefits for investors to hold your token in long term?
We are a crypto start-up that aims to solve a HUGE problem for the whole ecosystem. We are in this for the long term.
Q3. From Telegram username @jofranachrjo
How many wallets can support your Token until now? And do you have any plan to build your own wallet?
Only metamask and trust wallet right now. We have actually thought about doing an own wallet that in itself has some rug detecting software — that will advise against some potential buys if there is something suspicious.
Q4 From Telegram username @vodro6767
Where do I get information about your team? Why do you prefer to be anonymous? Do you have a plan to identify your team later?
We are rebranding and are launching a new website, perhaps in a couple of hours or so. At first, we will be anonymous but provide some personal information about the team — but later on, some of us will likely go completely public. When we discuss this topic, people who don't want to be public have different arguments such as “what if we fail with an audit and a rug pull slips through and people come after me” and “I don't want to be famous”.
Q5 From Telegram username @lucy4277
Token burn is important for investors, do you have any plan to burn or buy back?
No, we are not a memecoin. We don't want to be a Ponzi scheme, we want people to invest in us because they believe we will grow, do profits and do good for the crypto space.
but we totally get the thrills of the memecoins. The pumps, the raids, the memes, etc — so we aim to have that culture and do those things. But we don't believe in burns etc. Do any companies at stock exchanges burn stocks? We don't think we would benefit from it.
We are not 100 % decided on that, we are open-minded. If solid arguments are provided that convince us, we might change our minds. There are just our current thoughts on the subject.
Q6 From Telegram username @polad1097
Do you agree with everyone that community is everything? How important is the community to you? How can we cooperate and help you to develop a project
Community is everything for us. Without our community, we would be working day and night to get to nowhere.
If you like what we do and want to join us, join our telegram, reach out to one of the admins and perhaps join our army :)
Q7 From Telegram username @elitabattle
Now that technology is changing every second, are you afraid that in the future Your project will lag behind new projects with newer technologies?
It's for sure a fact that our technology will be at risk of becoming outdated. We try to move as fast and swift as we possibly can and we think that this is one of the core strengths of our core team. We are extremely curious and open to change.
In these times, it's not the big fish who eat the small fish, its the fast fish who eat the slow fish.
Q8 From Telegram username @selunbinga
Many Project talks only about their Strengths, Can You talk about the weak point that You project is Currently Dealing With?
If I speak for myself, I am aware of my strengths and weaknesses. I'm highly creative and analytical but not the best at execution. For that reason, I have made sure that I have team members who complete me. We have the same view of our team as a whole and constantly re-evaluate what is our weak spot, and act to solve it asap.
At first, for example, we didn't have anyone with really good development skills, and we solved that problem within a couple of hours after it was realized.
Q9 From Telegram username @Douglez
What did you do in this project to convince investors that this project could be a long-term project ?? whereas investors only see the token price
We have a purpose that makes our hearts beat strong. We really feel passion for what we do, and we think that it influences everything we do. We are curious and driven and will always have an interesting roadmap. We won't stagnate, investors will always have a thing to look forward to that they feel would increase the price.
Q10 From Telegram username @Vengolina
What are your major goals to achieve in the next 3–4 years? And What are your plans to expand and gain more adoption?
To make it impossible for scammers to do rug busts and thrive in this ecosystem, and to enable more people to be able to become crypto entrepreneurs.
Closing words from our guest to 404 Daily Crypto Community
So many questions :D Thank you everybody for your great questions. You are all welcome to join our Telegram and find out more. If I had the time and possibility, I would have wanted to answer all of you.
Even though we did this written, I felt your engagement and curiosity. Love it!
Here are some important links of Rug Busters
TELEGRAM GROUP: http://t.me/Rug_Busters
TELEGRAM CHANNEL: http://t.me/RugBust_Announcements