Hello 404 Daily Crypto Community
On 1st April, at 11:00 PM UTC (06:00 WIB), we just successfully hosted our 5th AMA with XAEA12 Inheritance, with our guest from XAEA12 Inheritance team:
- dev, XAEA12 Inheritance Developers
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 to our community?
Hello everyone I'm the main dev of our project.
We are a team of 5, consisting mainly of devs.
I’ve been in crypto since the peak of the 2017 bubble, and have been learning about smart contracts and since then, start development and testing forking some projects the past year, and now here we are, finally with our first project, very excited about what's to come.
Q1: Can you briefly describe what is XAEA12? We would like to know more about it and how it works.
XAEA12 is a deflationary token, it will work as an “Inheritance Token”, meaning it will be used to buy the “Elon Net Worth Token” that we are currently developing.
The “Elon Net Worth Token” will be an index token pegged to Elon Musk’s Net Worth via Oracles. Research is being done and we are looking at another Index Tokens like “DEGEN Index” to determine what’s the best approach to keep consistency.
Q2: How has the experience and background of your team been effective in the success of your project so far?
We’re a group of main developers who got interested in blockchain technology and smart contracts. We started researching and developing test projects. Every step of the way has been successful thanks to the research we did.
Q3: Can you give an overview of XAEA12 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?
Scarcity is the main target of this token, it has a built-in deflationary protocol, making it burn itself every transaction.
The initial supply was 100m, 80% were set to a presale done in dxSale, 15% as dev tokens were burnt, and 5% was kept for marketing purposes, 1m tokens of the 5% will be given in airdrops to give more power to the community.
Q4: Could you please provide some progress on your Roadmap and what results from XAEA12 has achieved so far? And any sneak-peek into 2021 plans for XAEA12?
Because we are very early in the progress of all future projects, all targets have been achieved without issues.
Building Smart Contract Oracles in the next few weeks, and creating the index token will be very interesting since we can provide a full set of index tokens once we have the best approach for that kind of token.
Has your smartcontract been audited?
The current token has been audited, yes.
Q5: What is the plan XAEA12 to ensure sufficient liquidity on exchanges to fill market orders, especially as adoption increases and clients begin multiplying year-over-year?
We are exploring ideas to try to find the best way to fill the demand of the exchanges.
Our marketing budget also includes liquidity competitions in the future.
Questions asked by our 404 Daily Crypto community members during live Session to XAEA12 Inheritance team
Q1 from Telegram username @steven12309
Please provide an explanation to us, the background of your token name, I do not understand a little, are you inspired by the name of a person or a place?
XAEA12 is the ticker, the tokens name is “X AE A-12 Inheritance Token”
X AE A-12 is the name of Elon Musk’s youngest son
We name the token an “Inheritance Token” since it will be used to buy the index token, the Index token being called “Elon Net Worth Token” makes sense because it what Elon Musk is going to leave an inheritance to
“X AE A-12”.
Q2 from Telegram username @derbederferdici
What prompted you to create a project on Elon Musk’s Net Worth?
Elon Musk’s Net Worth has been in constant growth the last years, an index token pegged to it will work the same way as many of the indexes that already exist.
Q3 from Telegram username @comebackstalin
Do you have any other plans for XAEA12 other than Elon worth?
The goal is to create a full set of index tokens, similar to what the “DEGEN Index” has done in Ethereum.
We want to build index tokens in the BSC.
Q4 from Telegram username @kimchien
We’re concerned about 2 things : Marketing and Rugpull. What are your marketing plans? How can you guarantee us no rug-pull?
This is a community-driven project, liquidity is locked by dxSale for 3 years, non-sold tokens of the presale are locked forever, and dev tokens were burnt.
Marketing will be done thru several ideas, like liquidity competitions, Twitter marketing plan, and many airdrops.
Q5 from Telegram username @imwiiw27
Bugs can target any software including smart contracts. DeFi projects became their victim too. How can we ensure Smart contract’s security for users?
We are aware of the safety concerns regarding smart contracts vulnerabilities, that's why we will research thoroughly to ensure no attacks in the future, and also maintain the consistency of an index token.
Q6 from Telegram Nickname “Erick Cabrera”
Do you have a plan to get to Elon’s attention?
Our Twitter marketing plan includes several attempts to get try to get Elon Musk’s attention.
Q7 from Telegram username @Adeliarah
What are your potential customers and which market are you targeting? All project coins have Utilities and are used in real life! So can you tell me what is the main role of coins in your ecosystem is? Explain its Utilities & Real-life use cases in the world? and Why reason should I invest long-term in your currency?
XAEA12 will work as a way to access the Index Token, we wanted an interesting way of giving access to future projects.
The index token itself will be a safe way to invest if you believe in Elon Musk’s growth in the future, you should feel safe to invest in an index token pegged to his growing net worth.
Q8 from Telegram username @Rennattaa
How are decisions made within XAEA12 Is there a method of governance that allows the complete decentralization of the project?
The index token will have a way of giving governance to the community to decide on new index tokens or future projects.
Q9 from Telegram username @manson662
How do you attract the investors or traders to be interested in XAEA12? Because some investors only focus on short-term prices rather than long-term?
Because XAEA12 will give access to future projects, long term holding will be rewarded in several ways, from airdrops to access to early investment
Also, there is a “Weak Hand Tax” meaning it burns an increasing tax (5% — 12%) of each sell, each burn adds up until a certain volume and a new tax cycle occurs where tax percent is set back to 5% and 50% of burnt tokens will be reintroduced to the supply and go among token holders.
Q10 from Telegram username @kimchien
How do you plan to spread awareness about Your project in different countries/regions where English is not spoken well? Do you have local communities for them to let them better understand your project?
Elon Musk is globally known, once this project grows, we will be able to make our team bigger and have ambassadors, so we can also educate people on index tokens being a safe way to invest.
Closing words from our guest to 404 Daily Crypto Community
It was a pleasure to have done this AMA with you guys, so early in the process of the development.
As I said, we will share even more information about our project on our website, thanks for all the great questions, if you have any questions our admins will be active in answering everything.
XAEA12 Inheritance Token
- Weak Hand Tax: burns an increasing tax (5% — 12%) of each sell
- Each burn adds up until a certain volume and a new cycle occurs
- Then the tax percent is set back to 5%
- Each cycle burns 1.275 % of starting total supply
- But 50% of burnt tokens will go among token holders
- Starting supply: 100.000.000
- 80% DxSale — 15% Dev Token Burnt — 5% Team
- Liquidity Locked until 4/20/2024
“Elon Musk Net Worth Token”
We are currently building an “Index Token” pegged to Elon Musk’s Net Worth via an Oracle
To buy the “Elon Net Worth Token” you need the “XAEA12 Inheritance Token”.