Hello 404 Daily Crypto Community
On 4th of April, at 01:00 PM UTC (20:00 WIB). we just successfully hosted our 7th AMA with Shitcoin, with our guest from Shitcoin team:
- Shitcoin Admin, Founder Shitcoin
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?
Thanks for the warm welcome!
We are currently a small team of 2 devs working our day jobs in a FAANG company. We are software developers by trade, working on hyperscaled applications you may be interacting with on a daily basis.
Earlier this year, we both got hooked on blockchain and DeFi technology, convinced this is the next big thing, and wanted to start something of our own. The crypto space right now is like the 2000s after the dotcom bubble with $SHIT tons of opportunities and billion dollar potential projects. We see so many problems that can be fixed and so many low hanging fruits, and want to be part of this growing industry. We are excited to be involved in this space!
Q1. Can you please tell us about ShitCoin to our community?
We launched our $SHIT token (https://shitcoin.website) on Binance Smart Chain, on April Fools, but by no means are we here to waste anyone's time, this project is not a joke.
We decided to name this project ShitCoin for the shock value — the term “shitcoin” will forever be a timeless word used in the crypto-space. And, in this current market climate, we saw the potential for this to go viral, so we thought why not have a bit of fun with the name and try it out as an experiment. To our good fortune, the community has embraced us with open arms.
Now this is the important part. We are very ambitious developers who are completely serious about building actual utilities on the Binance Smart Chain. We do not ever plan to settle as another memecoin that has cultural value but no other substance.
We are bending the status quo on what’s possible and we believe that we will inspire many that you can succeed at anything, no matter how outrageous or “memeable”.
The ultimate goal of the ShitCoin project is to increase visibility of cryptocurrency in the mainstream and aid the general adoption of blockchain technology. The team is currently developing utilities on $SHIT, including a launchpad and an NFT trading platform. The SHIT token will be the native token used on those platforms. 💩
Q2. Please tell us the biggest milestone you have ever achieved and also your future milestone?
So far, we carried out a smooth fair launch just a couple of days ago. Our journey begins!
Right now, we are focusing on the launchpad and NFT platform, these products will be launched in Q2.
The NFT platform will be a marketplace for artists and traders to simply buy or sell their art for $SHIT 💩 - "Yo bruh, I just copped this mad lad's original meme with literally 0.2 Megatons of $SHIT!" (1 Megaton of $SHIT = 1,000,000,000 $SHIT)
The launchpad platform will have the best UX in its category, and project owners will need to stake their $SHIT as collateral to launch any projects, which helps lower the scam rate. We also have additional features for the launchpad aiming to reduce the spam and bot engagement with smart algorithms.
Q3. Do you guys have a roadmap if not what are some other ideas you have for the future, where can people find them?
Yes! Please check out our roadmap at https://shitcoin.website/roadmap.
In Q2 2021, we aim to release an NFT marketplace and launchpad platform based on ShitCoin tokens, as the first series of utilities built on $SHIT with the community in mind.
When we are progressing forward, we will be able to hire additional developers, a marketing team, and a professional community management crew.
In Q3 2021, we are set to be working on an SDK for Unreal Engine.
This will allow game developers to easily make in-game trading possible using our native $SHIT token. We believe in and fully support open source, so we will license our SDK under a business source license (similar to UniSwap v3). This will enable us to make the code open to the general public while simultaneously delaying commercial competition to secure the interest of $SHIT investors.
As we expand, we also have plans to build a simple no-code smart contract builder application, to lower the entrance level of developing decentralised applications.
By the time we reach Q4 2021 and beyond, we hope to see a thriving crypto world, with not only the current big players like ETH and BSC dominating the scene, but also Cardano, Polkadot etc, maturing and having a wider adoption. We anticipate this happening and so that’s what we’re working towards. As this unfolds we will also contribute to making cross-chain interoperability easy for the developers around the world.
Q4. Could you tell us about the tokenomics?
The total supply is 45 megaton of $SHIT (45,000,000,000 $SHIT).
The total circulating supply is 29.475 megaton of $SHIT (29,475,000,000 $SHIT), which is Presale + PancakeSwap.
Team wallet for development fund and marketing is locked for 3 days from the launch (not unlocked yet), which is 2 megaton of $SHIT (2,000,000,000 $SHIT)
The liquidity is locked for 4 years
The rest of the dev wallet is burned.
While trading $SHIT tokens, a transaction of tax 6% is charged - 3% will be sent to the BNB <> SHIT liquidity pool, and 3% will be distributed to hodlers based on their holding amount.
We will conduct strategical manual burns from our dev wallet, in a controlled, buyback then send to 0x00dead manner.
Also all the $SHIT is already minted, so your $SHIT is getting more and more valuable!
Q5. Security is a big issue nowadays in DeFi , Has the code been audited ? If not is there plans in place for an audit in the future?
Security is our "job zero"!
We haven't been audited yet, but we are aiming to get audited as soon as possible, and also have full audits of our NFT platform, launchpad platform ready before they are launched for general public.
Questions asked by our 404 Daily Crypto community members during live Session to Shitcoin team
Q1. From Telegram username @Awann16
How do you plan to maintain high data integrity and strong on-chain security? There is a lot of demand for GraphQL, are you planning to add its integration?
Glad to answer this tech question! Yes we will, and we are both also fans of the GraphQL ecosystem. We plan to provide both RESTful and GraphQL APIs for querying data on our platforms (launchpad, NFT marketplace etc). This will make it easy for 3rd parties to integrate data from our platforms, including and not limited to fetching our real time token price, carrying out NFT buy/sell orders, and more 🙂
Q2. From Telegram username @criptoesparrec
Can I stake your Token?
What are your Staking criterias ?
Currently we haven't implemented staking mechanisms, but in order to participate our launchpad platform, both project teams and presale participants will need to stake their $SHIT tokens.
We are also aiming to develop a staking system for the NFT market, where investors can stake their $SHIT to get airdropped NFTs. For example, a Platinum $SHIT holder badge for people who stake 1 Megaton of $SHIT (1B $SHIT tokens) for one month and Diamond Hanz $SHIT holder badge for people who didn't unstake and sell during harsh market conditions.
Q3. From Telegram username @dungpro123
Marketing is a central element for every project, so that everyone knows the potential that a project can bring is vital to achieve the goals set. What is your strategy to attract new users and Investor to SHITCOIN and keep them long term?
We will be making constant progress and update our status on both our website and medium. In addition, in order to encourage our investors to stay with us, we also have a "secret 😉😉" sub group in our telegram community that requires $SHIT holding for exclusive, early information on out updates. We will also carry out campaigns to collaborate with YouTubers, TikTokers and on Twitter and on Reddit to further spread the words about our project and community.
Q4. From Telegram username @malamdoban
As far as I can see, NFT and BSC are the next trend of new projects. As I know there are a lot of very good development projects on this platform, what do you think about this development?
Yes, it’s amazing to see this space thriving today. We’d love to be part of the revolution, and we have tremendous respect for the projects on the market that are successful. We believe our name carry a special value to its own 💩😉, and that we can become a timeless embodiment of this meme. We aim to provide a robust and top notch NFT market solution for $SHIT.
Q5. From Telegram username @minhgiangmmo
Let us know if you have a team member's abilities or skills that cannot be compared with any other project. How will you react to competing projects in the future?
We have a strong software engineering background with years of cloud computing experience combined. We believe that our small team may have the best engineers the industry has to offer to compete in this space. We appreciate all the great pioneers in the crypto world to push forward in the frontier, and aim to help the entire space grow, with our contribution (for example, with the no-code contract builder, Unreal SDK planned for later this year).
Q6. From Telegram username @kazkia
Do you have a plan to identify your team later?Almost every investor is interested in large Defi projects as it delivers high returns and is fast. For what reasons can convince small and large investors to trust and invest in your project?
Currently, we are anonymous and expect to stay anon for a while. To convince the small and large investors to trust and invest in our project, we aim to deliver great products to our customers - the investors, traders, and end product users (artists and collectors for NFTs, new comers interested in using our no-code contract builder, etc). We believe quality work will speak for itself. When we have gained enough recognition and are through with the legality, we plan to dox ourselves to big investors.
Q7. From Telegram username @Dilraba_Dilmurat08
What ways will you implement to bring non-crypto-natives into your ecosystem?How do you keep a balance between developing the technology and increase the value of your token?
We believe that accelerating the general adoption of crypto means bringing more non-crypto-native people and services into the space. That is why we plan to build utilities and tools to help all of us to achieve this goal - all while doing that under an unorthodox name, to express our belief that the crypto space is for the new generation where conservative rules do not apply, and openmindedness is welcome here. We believe the meme will only grow stronger, and our token value will skyrocket.
Q8. From Telegram username @Horornya
How was the idea to create this project born? It is very interesting. What do you want to prove? What are your expectations?
So this idea of ShitCoin was born simple - we both simply got hooked on blockchain and DeFi during some of our weekend side project sessions. We believe in living life with no regrets, creating an amazing community and platform, and of course we believe in memes.
But, we also wanted to create a meme that doesn't only have its cultural values, but also real world use case. We want to give a big middle finger to the non-believers of the power of meme, the future of decentralized technology, and the next generation finance technology.
We want to prove that the future is limitless and embraces openmindedness. We want to see our ShitCoin succeed, we want to see the meme alive in eternity.
Q9. From Telegram username @Corrie_Dorf
Have ever DREAM your SHIT TOKEN Will list on BINANCE ona days?
We certainly have! That would be a giant milestone for us (CZ plz 😉). We do believe we will become one of the most popular "He Who Must Not Be Named" meme token on this planet.
Q10. From Telegram username @Sidthe42
Revenue is an important aspect for all projects to survive and maintain the project / company. What is the way to generate profit / revenue of token? What is the income model?
Yes! This is also why we aim to provide service platforms first in our roadmap. On our NFT platform and launchpad platform, a service fee will be charged upong every transaction to snowball the development fund. We believe that just for the meme value alone without the utilities, the usage of our token will explode - multiplied by the activities that happen on our platforms, we expect to be well funded for continuing our development.
Down in the road, although we plan to open source our SDK, no-code contract builder, we plan to license it so that $SHIT holders and the development team will not be taken advantage of. The projects that use our tools to build commercial products will be required to pay us a royalty fee.
Closing words from our guest to 404 Daily Crypto Community
Yes! We welcome all of you to our revolution, and grab your bag of $SHIT when we are still so early in our journey! 💩 We launched with exactly 0 marketing, but have already got a truly amazing community full of believers and supporters within the first 24 hours of the launch.
Thank you for all of your support. We will see you in the bright future, we will see you put $SHIT on the moon (as Neil Armstrong and the Apollo crew did)! 💩🚀🌒
Total tax fee: 6% = 3% locked liquidity + 3% hodler rewards
- Total supply: 45,000,000,000 $SHIT
- DxSale and PancakeSwap launch supply: 29,475,000,000 $SHIT
- Development fund and marketing, locked for 3 days: 2,000,000,000 $SHIT
- Liquidity locked: 4 years
- The dev wallet is burned.