StaysBASE — Telegram QUIZ & AMA — January 12
On Thursday, January 12, we had the pleasure to welcome to our Telegram chat:
We asked them questions about the development of StaysBASE.
Some sentences have been slightly edited for readability but the meaning has been conserved.
The StaysBASE Protocol acts as a trading instrument that allows holders to speculate on the entire crypto industry, world stock market, and gold market simultaneously, instead of just one token or a select portfolio of multiple.
StaysBASE is built to enhance the concept of BASE Protocol and is a
token whose price is pegged to the total market cap of all
cryptocurrencies, gold, and the stock market.
The StaysBASE Cascade rewards users who stake their StaysBASE in the liquidity pool based on how long a user stakes their tokens in the pool.
StaysBASE works on an Elastic Supply Protocol. The supply of StaysBASE is determined by the equilibrium condition. The target price of StaysBASE is based on market caps. When the four values are not the same, the protocol increases or decreases the supply of StaysBASE.
Q — Ayeley from GAINS: Can you introduce yourselves and tell us about your background?
A — Patrick from StaysBASE: I am Patrick and I have been employed in the mobile app development sector for the last few years and have since started exploring new opportunities in blockchain. I am a long time crypto investor (started in 2014) and advisor for digital currency startups. I think that crypto is the way to go and as we can see now, the whole crypto ecosystem has really shaken some old foundations in the financial sector and I love it. Decentralization for the win! I am really excited to be a part of the StaysBase team where I work as a Product & Strategy Manager and I believe that we will continue to do great things together!
A — Luka from StaysBASE: My name is Luka and I’m the lead blockchain developer at StaysBASE. I have a background in finance and money, where I’ve worked for financial institutions in Europe the last few years as a smart contracts programmer, where we’ve worked on bringing traditional financial products on the blockchain.
Otherwise, I’ve been a crypto-enthusiast since 2016 when I started with a personal crypto mining farm, which is still active today. We teamed up with my colleague Jure a few months ago to create blockchain projects and we’re happy to share with you our newest platform — StaysBASE.
Q — Ayeley from GAINS: Can you tell us what StaysBASE is about in detail?
A — Patrick from StaysBASE: StaysBASE is based on the concept of Base Protocol while taking it a step further!! While Base Protocol (BASE) is essentially a token whose price is pegged to the total Market Cap of Cryptocurrencies; StaysBASE takes the concept further by bringing The World Stock Market and Gold Market into the picture. StaysBASE is pegged on the average of the Cryptocurrency Market Cap, The World Stock Market Cap, and the Gold Market Cap.
A — Luka from StaysBASE: For example, let’s say:
The Crypto market cap increases +10%
The Gold market cap increase +5% &
The World Stock market Cap decreases -3%
The average of the three = 4%
There will be a 4% total increase in the supply of StaysBASE tokens.
Q — Ayeley from GAINS: Tell us some more about how it works. Base Protocol is a rebase token. Is that how StaysBASE operates?
A — Luka from StaysBASE: Yes, StaysBASE is basically a rebase token with rebase calculations every 24 hours which apply changes to the total token supply. If the world markets have a good day and the market capitalization increases, then there will be an increase in the token supply. Otherwise, the total token supply will decrease. Token holders can then speculate whether they will gain or lose from the market movements, making it an interesting token to hold.
Q — Ayeley from GAINS: What is the total supply and what are some other features that make it a must-have?
A — Patrick from StaysBASE: Please, take a look at the picture below to see the tokenomics distribution of SBS:
And about the features…
One would most certainly be a borrowable asset to hedge on leveraged crypto, stock & gold trading. This means using StaysBASE as a countermeasure against any unseen major drops in the overall market.
Another use case for StaysBASE is as a price basis pair for any other cryptocurrency. The way any altcoin is currently looked at is by tracking its price in terms of BTC or USD. This is an incomplete measure, as it really shows the performance of the altcoin against just one coin in the crypto market. StaysBASE means a standardized price point that is a reflection of all the three markets: Crypto, Stocks, and Gold Markets.
StaysBASE can also be used as a Safe Haven while trading in Crypto Stocks or Gold. People often want to invest in a ‘Blue Chip’ Crypto or Stocks, to reduce the risk of market volatility taking away their funds.
Q — Ayeley from GAINS: What is the most significant difference between StaysBASE and other projects(and most importantly other rebase tokens)?
A — Luka from StaysBASE: True. There have been a lot of projects which have pegged themselves to many cryptocurrencies or market capitalization. There has yet to be a product that pegged itself to multiple world markets such as StaysBASE with correlation to crypto, world stocks, and the gold market. That makes it very unique in this regard.
Due to the dependency on the average movement of all three markets, rebases going forward should mostly be positive. However, during market shocks, it could be possible that a rebase is negative. This is not to be seen as a negative event, as the whole purpose of rebasing projects is to provide users with a token that can be used to trade-in.
Q — Ayeley from GAINS: Will $SBS be the token to buy if Peter Schiff wants to get into crypto?
A — Patrick from StaysBASE: Exactly! 😄
A — Luka from StaysBASE: Yes, he’s our target audience.
Q — Ayeley from GAINS: Why did you choose BSC blockchain as opposed to Ethereum blockchain?
A — Patrick from StaysBASE: It is because it offers almost zero fees and transactions are almost instantaneous. During these BTC and ETH price surges, we can see gas prices skyrocket and we believe that to be still a great problem in the crypto sphere. We are eager to fix this problem.
Q — Twitter user @chapitodeng: Currently most investors only care about profits at the moment but ignore the long-term benefits. So can you give them some advice on why they should buy and hold this token/coin in the long term??
A — Luka from StaysBASE: Rebase protocols have a unique long-term proposition. Because of StaysBASE’s dependency on three different markets, namely crypto, stocks, and gold, holders can speculate on the value of the token price before rebase calculations happen. Especially due to our distinctive connection to three markets, we should be able to create an economy with quite regular positive rebases.
This makes it interesting to buyers and gives it a unique purpose in the crypto market. Along with that, we will offer our “cascade” or staking platform where people will be able to stake LP tokens to receive even more rewards — locking in liquidity to provide lower slippage to DEX users.
A — Patrick from StaysBASE: I think the fundamentals of the project are more than beneficial to both early supporters and newcomers and should provide good long-term value for all investors.
Q — Twitter user @semogaberkahXD: I found an interesting word in your light paper which is price basis. You are trying to standardize all coins in cryptocurrency, the stock market, and gold. How do you do that? What things or instruments would you use to standardize these?
A — Patrick from StaysBASE: The base code is a fork of the BASE protocol which has the same functionalities. The only question is how information for the rebase calculation is received in the contract. We will be using several different oracles for delivering data.
We are fetching data for the crypto market cap from over 5 providers, namely: Coinmarketcap, Nomics, Coin Codex, Coin Paprika, On-Chain FX, Live Coin Watch, Coin Lore, Coin Tracker
For the stock market: Alpha Vantage, Polygon io, Twelve data, Yahoo Finance and Market Stack.
And lastly for the gold market: Goldapi, Metals API, and Rapid API.
Q — Telegram user Lore San: Can you share some details about the partnership with JustLiquidity?Which are the other platforms that you are targeting to be partnered with?
A — Luka from StaysBASE: We have announced a collaboration with JustLiquidity to become the first IDO project on their JulSwap decentralized exchange, the leading DEX platform on Binance Smart Chain.
We will be further developing our collaboration with them after the token launch to provide other liquidity pool pairs and staking opportunities for our users.
Additionally, we will build a token bridge with them that will be connected to the Ethereum blockchain and will allow users on the ERC-20 platform to trade and use the platform services in the future!
Q — Telegram user 💳 Pro Trader: Did you audit your smart contract and publish it by allowing it to be viewed by the public?
A — Luka from StaysBASE: The code is forked from BASE protocol which was audited by many third-party companies. We’re also using their newest commit of the code which has all the remediations they’ve done. We are in a DeFi space for some time where we made some of our own projects and advised on several others. We are confident in our knowledge as backend programmers and we rely on experience to deliver the safest and secure platform there can be.
Q — Telegram user Fatih Arslan: Many projects rug pulled an exit scam recently. Why should investors trust StaysBase not to do the same?
A — Patrick from StaysBASE: Luka as CEO and Jure CTO are also owners of another DeFi coin and have good collaboration with many auditing firms. We have live Twitter accounts with our pictures and we did some live on-camera AMAs as well. I think all of this adds some additional trust to the project.
Q — Ayeley from GAINS: Did you raise funds so far? And are you planning to do any future raises? How can we get our hands on $SBS tokens?
A — Luka from StaysBASE: We’ve done a seed round where we gained $100k and $600,000 raised in the private round.
We’re planning to do a public round tomorrow for $50,000 as an IDO offering on JulSwap, the premier DEX on Binance Smart Chain.
Q — Telegram user RIN: Currently, “Staking” is a very popular topic. Can you please explain the $SBS staking plan and the benefits of adding “staking”?
A — Patrick from StaysBASE: Users will be able to buy StaysBASE at its Julswap liquidity pool. The StaysBASE Cascade rewards users who stake their StaysBASE in the liquidity pool. The Cascade issues rewards based on how long a user stakes their tokens in the pool — where the more liquidity provided, and for longer, the greater share of the pool they receive.
Q — Ayeley from GAINS: What’s ready right now and what is in development? What stage is the project at right now?
A — Luka from StaysBASE: We have everything ready at this moment. We’re launching in two days!
Q — Telegram user 🌍 Market Adam 🌍: I read the litepaper but I couldn’t see any road-map you prepared why is that?
A — Luka from StaysBASE: We are going live on 14th January with the full platform and the first rebase will be conducted 24 hours thereafter. We are the first IDO project on JulSwap and Binance Smart Chain so that is already a unique milestone on our roadmap.
Thereafter, we will be enabling different staking possibilities for our users and also seek out new partnerships with other prospective projects in the crypto-sphere.
We have quite a few innovative ideas prepared for Q1 and Q2 of 2021 and hopefully, we can share them with you as soon as possible. Keep an eye out on our Twitter for announcements.
Thank you, Patrick and Luka. It was a pleasure having you join our community today! It was great learning about StaysBASE. It’s an interesting outlook to rebase tokens that you have there and we wish you the very best in your token sale tomorrow. Where can we follow you? — Ayeley from GAINS
Thank you! You have a great community here and we really enjoyed ourselves! Have a nice evening everyone! Follow us on our 🌐 Website, 📃 Whitepaper, 📱 Twitter, 📢 Telegram Announcement Channel, 📢 Telegram Group and 🗄 Repository. Be sure to join our website and Telegram for more information. Hope to see many of you there! — Patrick from StaysBASE
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