AMA Recap 404 Daily Crypto with RugBusters
Hello 404 Daily Crypto Community
On the 17th of April 2021, RugBusters conducted an AMA in the 404 Daily Crypto for the second time. Our guest is RugBusters Team.
Lots of questions as usual from the Community about RugBusters progress. The RugBusters 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 RugBusters.
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?
Crypto Monkey: So I´m a Digital strategist that has been an entrepreneur that has been running different kind of projects. I am mostly focused on developing new Ideas together and trying to develop as we grow. 40 years old. Born and raised in Sweden.
Moonfaced Bull: Im 34 years old, also entrepreneur, focused on marketing and sales. Are deeply interested in tech, crypto, philosophy, spirituality and personal development.Have a wife and 3 children. Live in Stockholm, Sweden.
The rest of the team has variuos skills, for Example Thomas Birne who is a skilled designer and webdeveloper, we also have DB who has 25+ years in financial markets (Equities/Derivatives/Crypto), people in fintech. You can find more information in the website: Rugbusters.net
Can you briefly describe what is $RUGBUST ? We would like to know more about it and how it works.
Crypto Monkey: So me and Moonface bull invested a lot into early tokens. We got rug pulled a lot and realized that something needed to be done, we invested a huge amount of time and energy into researching tokens but everything seemed to be a scam. After we got rug pulled with $ElonPump and $SafeGamble we had enough and took action.
We started a group where people could help each other find out about scams and shared information on how to detect them. The demand was HUGE and we got overrun with questions about token x, y, z and didn’t have the time to meet the demand so we realized we needed more people and capital. The community started to grow fast and people started to discuss that we should have our own token. We did a poll and over 70% wanted the community to have its own token.
We looked for a way to create a token that could have a value and not just be like all the other coins. We started to look at different business models and realized the value was in getting trustworthy information about legit and rug pull free projects. The result? Rugbusters.net
Right now we are building our 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”. The community is able to provide help with marketing, operations, development etc.
We just launched the first project through the community. It is called $Blackjack Blackjackdefi.com and it is a cool concept where part of the slippage fee goes into a jackpot wallet that gets awarded once every day to a random winner. The project has allocated 5% in airdrops to the community of $Rugbust and works like this:
If your not a diamond club member today, this is the deal broken down:
*Buy 5000 $RUGBUST before 8 CET today Saturday — and become a diamond club member and receive an airdrop share of 1 % of the total Black Jack supply.
*But additional 5000 $RUGBUST before 8 CET today saturday and get an additional share of 2 % airdrop of BlackJacks total supply
*Buy BlackJack at the presale for 1 BNB or more, and receive an airdrop share of 2 % of BlackJacks total supply.
That is going to be one of our core concepts. That our holders can get airdrops in new projects by holding/buying more $RUGBUST.
How has the Experience and Background of your team been effective in the success of your project so far?
Crypto Monkey: I think the biggest advantage is the wide talent we have from all around the world. But also the ability to use core concepts from “fiat world” and incorporate in the crypto space. It is also very important to keep the spirit of crypto in a balanced way. The best of both worlds.
Moonfaced Bull: Agreed, we have a very stable core fundament. Our investors are majority long term holders.
Can you give an overview of $RUGBUST 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?
Crypto Monkey: So right now our tokenomics are quite simple. We don´t have any burn, or redistribution or anything like that. We are keeoing it simple like a stock. But we will do some changes when we fork in the future. Mostly to optimize the slippage to have some whale protection in form of tax. But also to put a portion of it into operationswallet and for funding new projects through our incubator.
Could you please provide some progress on your Roadmap and what results $RUGBUST has achieved so far ? And any sneak peek into 2021 plans for $RUGBUST ?
Moonfaced Bull: So far we have implemented a report a scam feature to the web page, so we are able to provide a list of tokens to avoid. We are also buidling our academy to help people do the due dilligence on their own. We have also launched a first token through our community, namely BlackJack that is launching right now(presale ends in 4 our or once hardcap is reached). All that hold enough $RUGBUST tokens to be a part of our diamond club(5000) will be airdropped 1 % of BlackJacks total supply.
That is true for all coming tokens that will launch through our community and soon, launchpad
We will become a launchpad and incubator that only launches properly audited tokens. We will minimize the risk of rug pulls and also try to implement a new standard situation where the token founders are public, as we see it as a factor that would significantly decrease the risks of fraud and scams
We are also working a lot on gamification, having a ranking system, where different ranks brings about different rewards in the form of token airdrops, NFTs and much more
To rise in the ranks, people need to buy(and hold) more $RUGBUST(proof of stake) or provide work for the company(proof of work)
Crypto Monkey: We are also launching our RUG BUSTERS ACADEMY that is a place where people can access content on how to learn detect scams and rug pulls. Our developers are ready with a new project we are launching in less that 48 hours. The “Swiss Army Knife Of Crypto” that creates automated reports to help people find signs and red flags. Let me show you an example:
SNOO/FAIRBSC for …/…
expires in next in 2 months
Snoonu Token /SNOO (https://bscscan.com/token/0xafeb8450022cb9c781974d66c5c1972a2e6585af)
Contract Address 0xafeb8450022cb9c781974d66c5c1972a2e6585af
Total Supply 1,000,000,000
Deposited LP 885,946.956
Contract Has Ruggy functions mint, burn
One of the owners 0x6cbd3dcf638fd647b8338b76a83e6d8a6c74b960 has created 5 tokens: Snoonu Token/Fair BSC, XSPACE/Snoonu Token, JulSwap/Snoonu Token, JulSwap/Snoonu Token, Snoonu Token/Wrapped BNB. None of the liquidity burnt for Snoonu Token/Fair BSC amount of 221,486.739. Multiple pairs created for token: Fair BSC, Fair BSC, Fair BSC, Fair BSC. Only 0.089% of the total supply of tokens added to liquidity pool.
Fair BSC amount of 4,904,591,463,732.224
Pancake LPs amount of 221,486.739
Snoonu Token amount of 10,000,000
[Functions] decimals, name, symbol, burn, burnFrom, decreaseAllowance, increaseAllowance, mint, transferFrom
As you can see in the report:
“One of the owners 0x6cbd3dcf638fd647b8338b76a83e6d8a6c74b960 has created 5 tokens: Snoonu Token/Fair BSC, XSPACE/Snoonu Token, JulSwap/Snoonu Token, JulSwap/Snoonu Token, Snoonu Token/Wrapped BNB”
This just shows pretty quick that this guys is behind alot of rug pulls (they are to lazy to even care about creating the new projects with new accounts)
But we have many more cool features that will be realized. We are 100% sure this will be a hit and well needed into the space. Here is also an explanation about the Diamond Club Rewards
Moonfaced Bull: People will also be incentivized to hold and buy more tokens as time goes — which will enable a steady growth of the token price, which will enable us to further expand our operations and become a more and more powerful force to be reckoned with when it comes to making the early stage crypto world a more honest, safe, transparent and lucrative experience.
In that scenario, 5 % of the launched tokens tokens are allocated to Rug Busters as rewards to our holders. We have one of those going on right now in BlackJack
Tokens that launches through Rugbusters can choose to allocate 1–5 % of their tokens to Rug Busters.
Crypto Monkey: We have seen an increase of buys of just 5000 and 10000 $Rugbust. People like the concept and we are very exited!
What is the plan $RUGBUST to ensure sufficient liquidity on exchanges to fill market orders, especially as adoption increases and clients begin multiplying year-over-year ?
Moonfaced Bull :We will do “pre sales” where tokens from the operations wallet are sold for BNBs without a transaction on pancakeswap. That will enable us to provide liquidity for new market places. We are also planning a fork later on that ads a slippage for whale protection but most and foremost, a 3 % operations fee that enables the growth to expand even further. We are already an active community where many members do work for Rug Busters and earn tokens as rewards.
What’s the progress with RugBusters since the last ama here?
Moonfaced Bull: Community have more than doubled in size, we are as we speak having the first token launch through Rug Busters. BlackJack, a casino token that has a daily lottery. BlackJack is audited by us and 100 % rug pull safe. We have also got further on the technical side of our operations with new functionality to come shortly. We are also soon going to be listed at both coingecko and coinmarketcap. And, last AMA was like a week ago. We are moving in the speed of light! :)
Crypto Monkey: And like I said also, the development of the Rug Busters Academy and the new tools to do quick automated audits are also a huge milestone we are very close to reach!
📍 Session 2» Community Questions (Live AMA)
Telegram User @Ijeck41
Tell me its 3 unique features that your competitor doesn’t have? How will people attract toward Your project?
Moonfaced Bull: Rug pull free launchpad, start up incubator, audits and also, the first launchpad that isnt decentralized, where you can speak with actual humans if you have any questions, problems etc.
We havent implemented most things yet but are trying out the processes manually, to itterate and find the best ones — so that we automate best practice, not just first things that comes to mind. Many tech companies do this the other way around. They build something, realizes its horseshit, and need to do a heavy pivot.
To my knowledge, there is no competitor that does what we do. There are launchpads but they just enable tokens to launch. What we do is to provide a safe and fortunate environment to the start up crypto space
Telegram User @Quickpk
Are you a global project or local project? Can anybody anywhere use your project without any restrictions?
Moonfaced Bull: We are a global project, anybody in the world can use our services and products. We want to have staff from all our the world, to be global but being able to offer a “localized” solution. Everybody should be able to benefit from us, dosent matter if you speak english or not for example
Telegram User @nikolas1819
Do you have any Coin Burn / BuyBack systems or any $Token Burn plans to increase the value of Token & attract Investors to invest?
Moonfaced Bull: No, we are a long term token. We are not aiming to be some sort of optimized ponzy scheme. Consider our tokens to be shares of a public company. The thing that increases the value is our growth, the value we provide and the aidrdrops one get from all the tokens we launch, just by holding enough $RUGBUST
Telegram User @cob_ba_ba
DeFi is growing very fast and the ability to destroy is very high. What do you think about this and can you be sure that RugBusters products will be in demand in the long term? Do you plan to contribute to DeFi’s growth?
Crypto Monkey: I really like this question. We agree that it is growing fast and that it also can be destroyed very fast. The high % of scams right now (80%+) may scare away alot of potential crypto investors and people looking to get in.
We have been talking alot about having even more transparency to create a new standard. For the team that would mean to get public and to get even more trust. But also demand all projects that wants to be launched through us to be public and open with identity. We believe this would be a game changer and create the standard we need in this space in order to survive. We will be announcing the decision next week about this, but right now it looks very positive and we are leaning into it.
Telegram User @Mulla680
What are the ways that generates income/revenue to maintain your project and what is its revenue model?also How can it make benefit win-win to both invester and your project ?
Moonfaced Bull: When companys launch tokens through our platform, they pay a fee and also allocate tokens to us. The value that our “customer companies” get is the trust they gain from using an launchpad that audits the “customer companies” and makes sure that they are rug pull free and have good growth potential. We are also going to provide help to new tokens regarding strategy, operations, marketing etc, those serices will be payed for.
To be able to invest in the tokens we launch and get airdrops, you need to hold a certain amount of tokens. This will incentice investors to buy more and hold. Investors dont need to sell our tokens for profit, since they get new tokens from tokens we launch, just by holding our tokens. Its a good source of passive income
Telegram User @Uamos
Why limit yourself to offering Airdrops with 1% of the offer of any project? How about increasing that offer from 1% to 5%?
Moonfaced Bull: It is not only 1 % but will vary. For example, we are right now launching a Casino token named BlackJack. In this case, 5 % of their supply is allocated to us for airdrops. Both the 1 % to our holders but also “buy bonuses” that incentivices investments in both Rug Busters and BlackJack
Telegram User @antonnio490
As a community driven project and me a developer am interested in contributing to the project, do you have such programs
Crypto Monkey: It is, and we are looking for new talent all the time. We have an operations wallet so we can hire people and build a greater team. If anyone else is interested in getting involved, just PM me or Moonfaced Bull!
Telegram User @Ijeck41
An ambassador help projects towards mass adoption. So, do you have an ambassador program too? If yes can you share the details with us?
Crypto Monkey: We would really like to get an ambassador program up but we just don´t have the right person to handle it right now. If you know anyone that would be interested and is competent in running it please gives a shout!
Telegram User @Mulla680
How do you plan to spread awareness about your project in different countries where English is not spoken well? Do you have local communities for them to let them better understand about your project?
Crypto Monkey: We will be translating all our content to all major languages. We believe our educational content will have a big impact when it can be localized into these huge markets. We are always looking for community managers for different languages. So if people here are interested just contact us to talk about it!
Telegram User @starshades007
How important is community you and What is your strategy for building a strong community? Do you agree that the power of the community will lead your project to develop globally?
Crypto Monkey: Like we explained in the beginning we built this community from the ground up. I would say community force is probably of the most important things to have. You need to have the community behind you to success, and you must also make sure the members of the community can get benefits from the community. It must be a win-win.
That is one of the reasons for the incubator, to generate great projects out of the community and help them create successful projects with the support of the community.
So if anyone here has a great idea that you believe would fit into Rug Busters core values then please get in touch with us!
Thank you for answering questions from our community. Before the end of the AMA, maybe you want to say something to our community?
Moonfaced Bull: There is still a chance to participate in BlackJack presale. If you invest 1 BNB, you will be part of an airdrop of 2 % of BlackJacks complete supply. BlackJack is audited by us and rug pull safe. Look them up here: https://www.blackjackdefi.com/
There is also possible to bug 5000 $ RUGBUST and be part of an airdrop of 2 % of BlackJacks complete supply.
Those two offers can be combined
Crypto Monkey: And like we said, we are always looking for more talent to join us. We need more analytical people for audits, designers, developers, content writters (in many languages), community managers, Reddit specialists, Twitter specialists, Tiktokers.
And if anyone believes they have an idea or suggestion on what we should do to grow more we will reward those tips with $RUGBUST so just make sure to PM us that and we´ll have a chat. It has been amazing and many good questions!
For more information and future AMA, join our Social Media channels:
📍 More information on RugBusters:
❇️ Website: https://www.rugbusters.net/
❇️ Twitter: https://twitter.com/rugbust
❇️ Telegram: https://t.me/Rug_Busters
❇️ Reddit: https://www.reddit.com/r/RugBusters/
❇️ Medium: https://rugbusters.medium.com/
❇️ Discord: https://discord.com/channels/827919530030399528/827919530030399534