Jetfuel x Satoshi Club AMA Recap from 29th of June
Hello, Satoshi clubbers! Another AMA took place in Satoshi Club and we would like to introduce to you the AMA session with our friends from Jetfuel and our guest was @jetfuelmiro the CEO of Jetfuel. The AMA took place on 29 June.
The AMA session was divided into 3 parts with a total crypto reward pool of 500$
In this AMA Recap, we will try to summarise the most interesting points for you.
Part 1 — introduction and questions from the Telegram community
Gold Rocket | Satoshi Club: Hello, dear Satoshi Club community! We are pleased to announce AMA with Jetfuel.
Flight Commander Miro [Will Never DM First]: [
Gold Rocket | Satoshi Club: Today our guest is @jetfuelmiro!
Flight Commander Miro [Will Never DM First]: @GoldRocket27 Thanks for having me! I’m happy to be here
Gold Rocket | Satoshi Club: Hello and welcome to Satoshi Club, @jetfuelmiro!
We’re very excited about the upcoming AMA, and you?
Flight Commander Miro [Will Never DM First]: Very much so
Gold Rocket | Satoshi Club: Let’s start!
Introduce yourself please. How did you get to be involved in crypto & Jetfuel?
Tell us please about your position in Jetfuel?
Andrés M. | Satoshi Club: @jetfuelmiro, is a pleasure to have you here!
Gold Rocket | Satoshi Club: [
Flight Commander Miro [Will Never DM First]: Sure! I’ve been involved in the crypto space since 2013 when I first discovered Bitcoin.
We started to develop Jetfuel after I was a victim of a terrible rug pull. The rug pull inspired us to build Jetfuel, an audited, all in 1 defi application where users can feel safe to invest their funds.
My position with Jetfuel is the CEO. I lead the development, marketing, and community out reach teams.
Gold Rocket | Satoshi Club: You have rich experience
What is the essence of Jetfuel?
How long does it take to develop a project? What plans do you have for the future? And what can we expect from Jetfuel?
Flight Commander Miro [Will Never DM First]: Jetfuel is an all in 1 defi application.
We have yield optimizers to compound and grow your assets automatically at Jetfuel.Finance
A decentralized, over collateralized money market and lending protocol at Fortress.Loans. Users can earn interest on their crypto assets like BTCB, BNB, USDT, and also take out loans against their deposits and EARN money.
We also just launched our AMM (automated market maker) exchange Jetswap.Finance. You can earn the WINGS token by providing liquidity to the AMM and earn swap fees from the LP.
Our income token is JETS token which receives 5 income streams.
We also have our passive yield and automatic liquidity token GFCE.
We truly have everything you could want in a defi application under 1 roof.
Gold Rocket | Satoshi Club: This is a unique set of tools as far as I can see. You thought it well
Also we would like to know about your team. Who is on the project team core?
Flight Commander Miro [Will Never DM First]: We take our time to ensure all new products and features we launch are fully audited and secure. Jetfuel and the ecosystem has been running for nearly 7 months with 0 security or exploit incidents.
That is why our TVL is over $210 million across our entire ecosystem.
We have a number of plans to go cross chain and to develop some really great features for all of our products.
Some soon to be released items on the road map
-Wings token Lottery
-BNB DICE gambling game
-Fixed rate loans at Fortress
-Boosted Autocompounding Vaults
and many many more
Andrés M. | Satoshi Club: I agree with you, a really all in one project
We are happy to know that everything is safe into your ecosystem
Flight Commander Miro [Will Never DM First]: There is currently about 20 people on the team between management, marketing, and community support.
Our development team has 8 developers working on Jetfuel, Jetswap, Fortress, and our consulting projects.
We have a full time marketing director overseeing our marketing.
The rest of our team is community managers running our many telegram groups.
Gold Rocket | Satoshi Club: Is the team anonymous?
Flight Commander Miro [Will Never DM First]: Yes, the team wishes to remain anonymous but we’re here nearly 24/7 for our community.
Gold Rocket | Satoshi Club: Do you have any plans to declassify your names over time?
Flight Commander Miro [Will Never DM First]: Not at the time
Gold Rocket | Satoshi Club: Where is your office located? Or do you work remotely?
Flight Commander Miro [Will Never DM First]: We are international and all remotely
Gold Rocket | Satoshi Club: Thanks for the introduction, we will have a question selected for the Part 1. ready to start?
Flight Commander Miro [Will Never DM First]: Let’s go!
Gold Rocket | Satoshi Club: I love your stickers.
I will try them all
Q1 from Telegram User @Arisabela
My head spun when reading the utilities of the two tokens in your ecosystem $JETS and $FUEL, from what I understood, $FUEL is a transactional tax token and $JETS is a governance token that also serves for staking, but can you disclose about all the use cases of this tokens on your ecosystem, how to trade them and what revenues can the users get from them?
Flight Commander Miro [Will Never DM First]: $FUEL is the first token in the Jetfuel Ecosystem. FUEL has a 2% tax on transaction. 1% is burned forever and 1% is sent to the “Hangar Reserve” for JETS staking.
FUEL emissions (farming rewards) ended in early June so FUEL is now 100% deflationary. We are burning about 1,000 FUEL per week. There is only about 124,000 FUEL left.
JETS is the staking and income token for Jetfuel. JETS holders receive 30 FUEL per day from the Hangar Reserve, 4% of every vault harvest is used to market buy FUEL, 10% of net income from Fortress.loans monthly, a permanent WINGS staking pool, and other staking opportunities.
Andrés M. | Satoshi Club: What is the APR for staking?
Flight Commander Miro [Will Never DM First]: You can trade FUEL at Jetswap.Finance and convert your FUEL to JETS at jetfuel.finance
Andrés M. | Satoshi Club: And is there a minimum amount of tokens to join staking and farming programs?
Flight Commander Miro [Will Never DM First]: Standalone JETS holders without staking receive about 40% APR and you can stake JETS for WINGS and earn an additional 33% APR. So the JETS APR is over 70%
$FUEL- BNB can be deposited to the Jetswap vault and earn about 200% APY.
There is never a minimum in Jetfuel. Investors of all size are welcome
Gold Rocket | Satoshi Club: I think this is very fair
Thank you very much for your answers! Ready for the next question?
Flight Commander Miro [Will Never DM First]: Yup!
Q2 from Telegram User @NSZR1
I read that Staking your $ FUEL tokens on Jetfuel Finance earns you passive $ FUEL rewards, and in order to stake $ FUEL tokens, it is necessary to convert them into $ JETS. I would like to know what kind of benefits it brings to users to use this dual token mechanism and how it benefits the ecosystem of the platform, I also have the doubt whether as well as users can stake the $ FUEL token, they can stake the $ JETS token ?
Flight Commander Miro [Will Never DM First]: This was just answered above https://t.me/Satoshi_club/955588
Single FUEL staking is not enabled since FUEL is a transactional tax token. You can convert your FUEL to JETS at Jetfuel.Finance and stake the JETS
Gold Rocket | Satoshi Club: By the way, share your tokenomics with us please
It seems to me this is also something unique.
Flight Commander Miro [Will Never DM First]: This will be a long one since we have 5 tokens
Gold Rocket | Satoshi Club: Perhaps a link to your web resources to study
Andrés M. | Satoshi Club: Thanks for the clarification. Btw, you mentioned Polygon Fortress as part of your roadmap, could you tell us more about it?
Flight Commander Miro [Will Never DM First]: 1. FUEL. FUEL is a deflationary token with 2% tax on transaction. 1% is burned for ever and 1% is sent for staking. FUEL had 6 months of farming that started Dec 6th 2020 and ended June 5th 2021.
2. JETS is the income and staking token for Jetfuel. The only way to obtain JETS is to convert FUEL to JETS at Jetfuel.Finance. JETS holders earn up to 5 income steams by holding and staking JETS. There is a 2.5% withdraw fee to convert from JETS to FUEL to ensure long term holding.
3. GFORCE is our passive yield and automatic liquidity token. There is 1,000,000 GFCE. 3% of every transaction is taxed and distributed to every GFCE holder. 3% of each transaction is taxed and is added back to liquidity at Jetswap. We are nearly done with our GFCE lottery where you can earn GFCE LP tokens!
4. FTS is Fortress. Fortress is our lending and money market protocol. You earn FTS rewards by supplying and borrowing against your deposits. FTS has 10,000,000 tokens and a 2.5 year farming schedule.
5. WINGS is our AMM token for Jetswap. It is an inflationary token and is used to incentivize liquidity at Jetswap. We have a number of exciting features coming up for WINGS like the WINGS lottery, voting, and NFTS.
Yup! We’re working to build Fortress on Polygon. We can have more information when it’s closer to production
Andrés M. | Satoshi Club: Oh, then we will be waiting for coming announcements
Gold Rocket | Satoshi Club: [
Andrés M. | Satoshi Club: Ready to proceed with the next question?
Flight Commander Miro [Will Never DM First]: Yes!
Q3 from Telegram User @DK177
$FUEL has a 2% transaction fee on transfer. Where does this money go? Do you use them for the internal developments or will they be given back to the community? Is this 2% rate applied only for deposits and withdrawals? Or should we pay this fee when trading on BitMart too? With the BitMart fee, 2% becomes 4%! If this fee is applied for trading in FUEL/USDT pair, can you please explain about maker fee and taker fee?
Flight Commander Miro [Will Never DM First]: Yes, as answered earlier FUEL has a 2% tax.
1% is burned for ever and 1% is sent to the “Hangar Reserve” and 30 FUEL per day is sent to JETS holders 1 time per hour. The 2% fee is on every on-chain transaction. So transfers, purchases, sells, and going into/out of an LP its’ charged.
Bitmart does not charge a 2% on standard trading since Bitmart is not onchain trading. However, Bitmart charges an additional 2% on deposit to cover any internal fees they might pay.
Andrés M. | Satoshi Club: Why you take the decision of create 5 different tokens? Why not one token with different usecases?
Flight Commander Miro [Will Never DM First]: We have built an all in 1 defi application. Each token serves it’s own purpose for the ecosystem. It’s not possible to use one token for all of our plans so we’ve developed each protocol with their own tokens
Gold Rocket | Satoshi Club: can you tell us briefly about these goals? this is a rather original system
Andrés M. | Satoshi Club: Thanks for the clarification, I agree with that
Flight Commander Miro [Will Never DM First]: Our goal is to become the #1 defi protocol! We currently have a TVL of $210 million and are going to keep building our products until TVL is in the billions.
Gold Rocket | Satoshi Club: Well thanks for the answer! Ready for the next question?
Flight Commander Miro [Will Never DM First]: Yes
Q4 from Telegram User @KeymerS
I read in your Medium blog that in the long term you plan to incorporate NFT tokens, but could you really give us what innovative utility you plan to implement? Or will the use simply be to reward the most loyal users?
Flight Commander Miro [Will Never DM First]: Yes! We are exploring the best way to integrate NFTS to our Ecosystem. We plan to have an NFT minter and marketplace at Jetswap and let users use WINGS to make NFTS.
Gold Rocket | Satoshi Club: This is a very promising direction!
Andrés M. | Satoshi Club: That’s amazing, you tried to adopt all of trending topics to your project
Flight Commander Miro [Will Never DM First]: Thanks
Andrés M. | Satoshi Club: Great job, what about synthetic assets, will be part of jetfuel in the future?
Flight Commander Miro [Will Never DM First]: Can you explain more about synthetic assets?
Gold Rocket | Satoshi Club: We’d love to hear about it.
Andrés M. | Satoshi Club: Crypto versions of commodities assets, stocks as Tesla, Apple
Flight Commander Miro [Will Never DM First]: We do not plan to incorporate synthetic assets but we have plans to keep growing and building our current products like Jetfuel, Jetswap, and Fortress
Andrés M. | Satoshi Club: Amazing, we should recognize the big potential of your project
So, would you like to add something else before the next question?
Gold Rocket | Satoshi Club: Yes! That’s great
Flight Commander Miro [Will Never DM First]: Next question please
Q5 from Telegram User @Highpee
Your Initial Jet Offering, IJO launchpad has an initial focus to help new project raise funding as well as give a liquidity and marketing boost at the nascent early stage of projects. From the information available on your website, only one external project (TRYON) has been launched on it and the last token to launch on your launch was FTS on the 20th of April. Some projects who applied for launching have complained on your TG of not being attended to. Why are there no sale activities on your launchpad? What does it take for a project to launch on IJO launchpad and what does buyers need to participate? Is this aspect of your project still important and working or have you shifted focus from this direction?
Flight Commander Miro [Will Never DM First]: We have shifted focus away from the IJOs. There is too much work, risk, and stress involved with launching IJOs. Jetfuel has a very strong name so we want to ensure that we’re only endorsing the best projects.
Our focus now is to build our partnership program and pilot pools. Pilot pools at Jetswap allow users to stake WINGS for partner programs. Soon we’ll be launching our $500,000 Partnership Incentive program to help new projects incorporate Jetfuel and our ecosystem into their projects!! We can’t wait to roll it out.
Gold Rocket | Satoshi Club: Thanks for your answers
Andrés M. | Satoshi Club: What is the most important thing you consider is coming for jetswap in the second half of 2021?
Flight Commander Miro [Will Never DM First]: We are currently working with a regulated crypto gambling project and we plan to integrate a fully regulated and licensed casino into Jetswap!
Andrés M. | Satoshi Club: That’s sounds promising
Time to go with the final question
Q6 from Telegram User @yellowchamp
One of your twitter post that interest me is about the Fortress Loans in which you stated that “Wake up tommorow and Get Paid to Borrow”,so can you explain more about this statement? Literally,how can we get paid to borrow? In what possible ways that a borrower can earn from borrowing instead of paying interest rate? Thank you
Flight Commander Miro [Will Never DM First]: Fortress.loans is our lending and money market protocol.
Users can deposit their assets to Fortress and earn interest to their deposits that’s paid by borrowers. Depositors also earn FTS rewards.
The greatest part of Fortress is the ability to earn while borrowing! You can borrow against your deposits up to 60%. You’ll pay interest in the token you borrowed but you’ll earn big FTS rewards which is more than your interest paid. So you get paid to borrow! Isn’t that great?
Andrés M. | Satoshi Club: And that makes 6/6, thank you so much @jetfuelmiro for your answers, it has been a great time with you in this first part of the AMA
Flight Commander Miro [Will Never DM First]: It’s been a great time here for the AMA!
Andrés M. | Satoshi Club: Now, is time to interact with our dear community members in the live segment of the AMA
A ton of questions are coming when we open the chat, ready to go?
Flight Commander Miro [Will Never DM First]: Lets go
Part 2 — live questions from the Telegram community
Q1 from telegram username @alptrader
@jetfuelmiro Do you like the jets like f-35?
Flight Commander Miro [Will Never DM First]: Jets are great!
Q2 from telegram username @Robotliker1
How safe is to invest on your project? It is truth that it is very hard to find best project and legit where rugg pull scams happens everyday . How can we trust your project that it is legit with anonymous team? Any plan to go public in the future?
Flight Commander Miro [Will Never DM First]: We built Jetfuel after a nasty rug pull. You’ll be able to check that we audit all our code before we deploy to the public. Team is anon for now
Q3 from telegram username @meml97
JetFuel emphasizes on being a fair-launch deflationary yield farming ecosystem on Binance Smart Chain. But my question here is, what does it mean to be a fair-launch project? Why is JetFuel such thing? What advantages does this bring to people if they use JetFuel over other platforms that are not “fair-launch”? Also, I’ve seen before other platforms calling themselves fair-launch as well, what makes JetFuel different from them? @jetfuelmiro
Flight Commander Miro [Will Never DM First]: Fair Launch means there is not a presale, founder allocation, pre mint. Everybody, including the devs, have to start at the same place.
Q4 from telegram username @shohan1244
-I see your project has several partnerships but who are the main partnership?
Flight Commander Miro [Will Never DM First]: We have a number of amazing partners.
-Yield Watch, Billion Happiness, Auto Farm, Beefy, Swamp Finance, Safermoon, Apeswap to name a few
Q5 from telegram username @Rakshitx5
Every day many projects are launching and your is one of them and the team is unknown. Why should investors invest in a coin whose founder is unknown? How we can trust you?
Flight Commander Miro [Will Never DM First]: We’ve been around for 7 months with 0 exploits or security issues. Our team is around 24/7 to help the community. All our code is audited before it’s released to ensure safety for the public.
Q6 from telegram username @Josewen
I understand that JetfuelFinance is a launching pad for projects seeking to raise funds and keep more of their proceeds. funds and two projects to be launched soon; Fortress credit / loans and JetSwap decentralized exchange. What are JETS tokens? What is the function within the platform? Do you have other tokens besides JETS? What are the qualities that this token possesses? What are the many functions that JETS fulfills?
Flight Commander Miro [Will Never DM First]: You can read the questions answered in this AMA for info on JETS. You can also check our Jetfuel Docs page here: https://docs.jetfuel.finance/jets-staking
Q7 from telegram username @Zara_Adisty
Almost 83% investors have just focused on price of token in short term instead of understanding the real value of the project. Can you tell us on motivations and benefits for investors to hold your token in long term?
Flight Commander Miro [Will Never DM First]: Zap is a feature we’ll be rolling out again soon. It’s the ability to use BNB to get right into a vault. So no more buying all the tokens for the LP. Just use BNB and get right in.
Q8 from telegram username @Sumione
What are the different farming pools options available? Can you provide me some links for this and different APYs for all coins?
Flight Commander Miro [Will Never DM First]: https://www.jetfuel.finance/vaults
Q9 from telegram username @nadee5
Is JetFuel MOBILE APPLICATION available ?
Flight Commander Miro [Will Never DM First]: You can use any mobile DAPP browser to access our websites
Q10 from telegram username @Ratash97
What kind of informations users will find on the Info/Analytics Page feature ?
Flight Commander Miro [Will Never DM First]: prices, volume, liquidity, tokens available, fees
Part 3 — Quiz Results
As usual, for the third part, Satoshi Club Team asked the chat 4 questions about the crypto project. A link to a Quiz form was sent into the chat.
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