AMA Satoshi Club x BSC.tools, March 7th
Educational task of Satoshi Club drives us to acquaint you with all new projects. We were delighted to welcome our guest from BSC.tools. The AMA took place on March 7th, 2021 and our guest was @chrisbscdottools.
The total reward pool was 500$ and was divided into three parts. In this AMA Recap we will try to summarize some of the most interesting points for you.
Part 1 — introduction and questions from the Telegram&Bitcointalk community
Маry Satoshi CLUB: Hello Satoshi Club! We are happy to announce our AMA session with BSC.tools! Welcome to Satoshi Club
D. Папа Роуч: and our guest — @chrisbscdottools hello Chris! welcome to Satoshi Club!
Chris — BSC.tools: Hi guys. It’s Chris from BSC.tools. Thank you for having me
Маry Satoshi CLUB: Welcome here
How are you today?
D. Папа Роуч: nice to have you here Chris!
Chris — BSC.tools: Very well thank you
Маry Satoshi CLUB: Fantastic! Let’s start our AMA
Chris, could you please introduce yourself and BSC.tools
Chris — BSC.tools: Sure. My name is Chris. I’m the CEO of BSC.tools. BSC.tools is a set of trading and data analytics tools focused on decentralized exchanges on Binance Smart Chain (BSC), with an abundance of features that support you in tracking real-time data analysis, creating your own trading strategies as well as earning and increasing your profits, easily to use across platforms.
Маry Satoshi CLUB: Yes, BSC.tools is that project a lot of people were waiting for! When did you start to work on it?
Chris — BSC.tools: Me and my team start to work on this project around early 2020. Being active users of the BSC ecosystem ourselves, we’ve yet to find a product around that time that satisfied our needs for data analysis and charting.That’s why we decided to build something on our own
D. Папа Роуч: nice! could you also, briefly take us through of your team members? how many people working at the project?
Chris — BSC.tools: We are an anon team of experienced blockchain developers coming from different countries. All I can say is there are 10 core members in our team
D. Папа Роуч: gotcha
Маry Satoshi CLUB: Thank you, Chris for your intro! Are you ready for the questions from our community?
Chris — BSC.tools: yes
D. Папа Роуч: let’s do this!
Q1 from Telegram user @Arisabela
Recently you’ve raised $2.500.000 for building the set of trading and data analytics tools for BSC, can you provide a detailed distribution of the purpose of this founds? What are the main features that will be developed first and what will be the benefit for your top investors?
Chris — BSC.tools: We can’t disclose the detailed distribution due to a privacy reason. All I can say is all our strategic partners is here to stay and have only one purpose. Which is to help us build a better product to provide more value to users. Pair Explorer, Multi Swap, and Pool explorer will be developed first. Follow by Portfolio tracker, yield optimizer, live AMA on pair listing, price alert, and last but not least Dapp referral profit sharing on Q2
Маry Satoshi CLUB: Will you have mobile app?
Chris — BSC.tools: not atm but we will provide it soon
D. Папа Роуч: all these functions will be implemented during this year? cool
Chris — BSC.tools: that’s the plan. If we hit all our major milestones then all of those should available this year
Маry Satoshi CLUB: Sure, there’s nothing impossible for you
D. Папа Роуч: big plans for this year
Маry Satoshi CLUB: Ready to proceed?
Chris — BSC.tools: yes
D. Папа Роуч: thank you for the answers! let’s proceed to the next Q
Q2 from Telegram user @victorogb
Currently there loads of other projects offering same sort of service BSC.tools does with even greater variety and scope of trading and market information across different blockchains. Don’t you think you’re selling yourselves short by focusing more on BSC built and traded projects solely because it’s at the moment one of the most widely used chain?
Chris — BSC.tools: We want to go deep instead of narrow. We believe we can provide more value to users that way. And actually we do not care too much about competition. We’re just trying our best and try to out-perform ourselves from day to day. However, I think Portfolio & Yield Optimizer and Gem Hunters Network are our unique features the others may not have. Our technology is also different. We crawl the data from our blockchain nodes ourselves so we don’t rely on any external APIs.
Маry Satoshi CLUB: Is this possible that you can add another blockchains?
Chris — BSC.tools: yes. We will support Ethereum on Q3 anf Polkadot on Q4
Маry Satoshi CLUB: Wow, that very nice
so, you’re not tied to BSC only. But your name includes only BSC
that’s why users asking questions
Chris — BSC.tools: that’s true. we got plan to expand but want to focus on BSC first
Маry Satoshi CLUB: Got it, you really need to start with one to expand to another blockchains later. Thank you for your answers! Ready to go to the next question?
Chris — BSC.tools: lets move on
Q3 from Telegram user @Carlcrip
I read on your website that BSC Tools is currently in open beta. After the Open Beta period ends, you will need to have a specified number of tokens to access advanced features. What options will these advanced functions have? And why should you have a certain amount of tokens, what are the advantages?
Chris — BSC.tools: Our platform is developed to be free for all traders to use basic features. However only TOOLS holders can access premium features, the exact amount for each tier hasn’t been decided as we are still in development. Some of the use cases are:
– holders can vote on future features that they like;
– used on our Gem Hunter Ecosystem;
– used for liquidity mining on LaunchpoolX of BSCEX;
– other projects can also use $TOOLS to purchase advertisements and sponsorships on our website and app (in the future we also have live AMA).
D. Папа Роуч: cool! so it’s like how DEXTools or ChartEX work? as far as i know, there you have to hold particular amount of tokens as well, to get access to some premium features
Chris — BSC.tools: yes that’s right
Маry Satoshi CLUB: Currently, where we can get $TOOLS?
Chris — BSC.tools: TOOLS is available on Pancakeswap and BSCEX’s SwapX. You will be able to farm more TOOLS on BSCEX soon
Маry Satoshi CLUB: So, you are our competitors in AMA field
Chris — BSC.tools: lol
Маry Satoshi CLUB: Np, i think we can be friends
D. Папа Роуч: thank you for answers Chris! let’s move on to the next question?
Chris — BSC.tools: yes
Q4 from Telegram user @alice_wonderland12
With the multiple exchange View feature of BSC Tools users can and interact with multiple pairs on a single screen, is it possible that we could use our accounts of those exchanges simultaneously? What functions could we use with the Multiple Exchange View?
Chris — BSC.tools: yes! it is possible, we can’t wait to announce more about this feature in detail in the near future
Маry Satoshi CLUB: Could you give us more hints?
D. Папа Роуч: so more awesome news to come
Chris — BSC.tools: definitely
Маry Satoshi CLUB: When we can expect the news?
Chris — BSC.tools: Most likely will be Q3 this year. We will let you know if there is any delay
D. Папа Роуч: got it!
thank you! ready for the next question?
Chris — BSC.tools: yes let’s move to the next one
Q5 from Telegram user @shihadk9074
What’s the security model of BSC.Tools? What activities do you do with third-party security groups to protect BSC.Tools from security threats?
Chris — BSC.tools: Security is important to us. Our first feature that has smart contract integration is still in development, but we are already working with a big smart contract auditing firm to perform audits for the project. We want to make sure our platform has the highest security possible and is flaws-free. More info about this will be announce soon
Маry Satoshi CLUB: Thank you! Security should be on the first plan and i am happy you understand this clearly
Do you want to add something or we can go to the 6th and last question from this part?
Chris — BSC.tools: sure let’s move on
Q6 from Telegram user @lzamg
One of the features of BSC Tools is the Pool Explorer. With it we can “find the best gems and avoid scams”. Can you explain exactly how we can find the best pools? Does BSC Tools offer some kind of advice about the most convenient pools? And how can we avoid scams using your services?
Chris — BSC.tools: We try our best to provide to users the most reliable data and indicator. Tbh we did think of a advice model where user can get suggestion from us. Final decision haven’t been made and we will keep our user updated. All gems on our “Gem hunter community” is suggested and vote by the community
Маry Satoshi CLUB: How the voting will take place? Or it’s already ongoing?
Chris — BSC.tools: will be release with our “Gem hunter social” on Q4 2021
Маry Satoshi CLUB: Got it! We will definitely follow you! A lot of awesome features incoming
Chris — BSC.tools: Thanks Mary
Маry Satoshi CLUB: And our live part incoming also
Chris — BSC.tools: i’m ready
Part 2 — live questions from the Telegram community
Q1 from Telegram User @Kabirkapoor9
Could you please give an overview of your roadmap? And which event in roadmap you think will be game changer for BSC.tools?
Chris — BSC.tools: Q3 and Q4 will be big with Gem hunter social and Ethereum & Polkadot support. See our roadmap here.
Q2 from Telegram User @Kabirkapoor9
Could you please name some of your strategic partners? And in what ways they are contrtibuting to the BSC.tools community?
Chris — BSC.tools: Moonwhale, au21, Cryptobanter bscex, ezdefi… just to name a few. We also have one of the biggest name in the Crypto Youtuber space. 99% of you should know his name. Can’t disclose the detail now though. stay tuned
Q3 from Telegram User @surendra040
Your project is fantastic and good idea ,What was the story behind the idea of your project and why your team decided to stay anonymous?do you have any plan to remain public in future?
Chris — BSC.tools: We can’t find anything like DEXtools for BSC so we create something of our own :D. We want to stay anon and haven’t got a plan to public our name in the near future
Q4 from Telegram User @Kushal85127939
Could you please give an overview of Tokenomics? Is there any plus point for BSC.tools from its competitors?
Chris — BSC.tools: see our tokenomic below. I think I already answer a competition question above
Q5 from Telegram User @nadee5
Will your name (BSC.Tools) of the project be changed after supporting etherum and polkadot ?
Chris — BSC.tools: Most likely not eventhough we can see why people are asking about this. We still haven’t make final decision. our #1 priority now is make sure it meet user’s expectation for BSC first
Q6 from Telegram User @sofiaisla
I was reviewing your Q4 roadmap and found interesting, “Polkdot support and the launch of the Gem Hunter social network.” Lately projects have had to opt for Polkdot support, could you tell me some information about BSC.TOOLS and this? Why choose Polkdot and what will this launch of the social network “Gem Hunter” be about? Will it be a good support for the project?
Chris — BSC.tools: The Gem Hunters Network is a place for those users that want to find new under-the-radar projects that can produce exceptional ROI.
Finding the right gem might be a difficult and time-consuming task for investors.
By leveraging our community, we can discover the next gems quicker and get on the train before the public.
This is the feature that we’re super excited about and will be sharing more about this soon.
Q7 from Telegram User @kelly0802
Has ”Dapp referral profit sharing” taken place? Where does it take place?
Chris — BSC.tools: not until the end of Q2
Q8 from Telegram User @Sumione
How may I buy $TOOLS , what is the contract address?
Chris — BSC.tools: 0x1311b352467d2b5c296881badea82850bcd8f886
TOOLS is available on Pancakeswap and BSCEX’s SwapX
Q9 from Telegram User @Kushal85127939
Will there be any local community on telegram to reach wider audience? What marketing strategies BSC.tools is using to attract crypto enthusiast?
Chris — BSC.tools: Yes. Our number one focus at the moment is making a great product for BSC users — as we learned the demand for the tool on BSC is really high.
We also teamed up with other top BSC projects to cross-promote and partnered with KOLs (twitter, telegram, youtube) to spread the awareness.
Lots of AMAs and giveaways is coming as well
Q10 from Telegram User @ShaLiPon
How can we farm $TOOLS? Is it available now?
Chris — BSC.tools: You would be able to farm more TOOLS in the next couple of days on BSCEX
Part 3 — Quiz Results
In the final part we tested your knowledge in terms of BSC.tools. They’ve prepared 4 questions for this part. The total reward pool for quiz was 300$.
BSC.tools Group: https://t.me/bscdottoolschat