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Single Finance x Satoshi Club AMA Recap from the 17th of January

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 Single Finance and our guest was . The AMA took place on the 17th of January

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&WebSite

Gold Rocket | Satoshi Club

Greetings, dear Satoshi Club community! We are pleased to announce AMA with Single Finance

Today our guest is @jaheemleh

Gold Rocket | Satoshi Club

@jaheemleh hello and welcome to Satoshi club!

Kenny Denton Jr.

yohooo!!

Kenny Denton Jr.

hello everyone

My honour to be here

Gold Rocket | Satoshi Club

How are you doing?

Kenny Denton Jr.

can’t be better, and you?

Gold Rocket | Satoshi Club

We are really excited about upcoming AMA with you

Andrés M. | Satoshi Club

Nice to meet you

Gold Rocket | Satoshi Club

Let’s start! Introduce yourself please. How did you get to be involved in crypto & Single Finance

Tell us please about your position in Single Finance

Kenny Denton Jr.

Sure

I am the Chief Farming Officer and co-founder of Single Finance and also the guy behind the whole product! So you may ask me anything about the product and farming strategy. Single Finance is a super intuitive platform to all your DeFi investments minimizing correlations to the general market.

We can’t say we are seasoned in DeFi — it’s a new gift brought to the world not long ago — but we can confidently say we have been involved since the early days, managing our own farms. But then one day we messed up big time when our positions got liquidated during market collapse.

We were farming a pair at 3x leverage but suffered a flash loan attack. The platform locked all actions while the asset price dropped 80% in just a few minutes, and we got liquidated and lost 105% of our capital from the position. We thought we could have at least gotten half of our capital back, since we monitored the position very closely. Even though we had stared at the screen every minute, our effort was in vain — thanks to the platform policies and extreme volatility.

We don’t want to repeat this ever again and we have then decided to build our own platform with all the bots and strategies and metrics that we ourselves find useful and that’s Single Finance.

We have some super strong engineers of course, and we are very proud to have farming experts and data scientists in our team. And you will see how they contribute to this wonderful platform soon.

Andrés M. | Satoshi Club

Interesting experience, but is something to learn of

Andrés M. | Satoshi Club

So, are you working with AI developers?

Kenny Denton Jr.

yes, on project basis

Gold Rocket | Satoshi Club

Give us a brief introduction to the project. What is the essence of Single Finance

Kenny Denton Jr.

3 things you will have to remember us, just 3 things!!!!

Single Finance is a DeFi investment platform with a human touch — we aim to provide all the tools and strategies that suit you just right:

Single Click Pseudo Market-Neutral Strategy to minimize impermanent loss

Single Finance is bringing a human-centric, ultra user-friendly experience and capital protection to DeFi, helping everyone earn more money with an ease of mind. The primary goals of both new and experienced farmers are simple: to earn high yields without suffering too much impermanent loss or being liquidated in a flash. Single Finance users can simply supply assets and enjoy our pseudo market-neutral liquidity mining strategy with just a single click.

Marked-to-USD Capital Protection Bot

The best thing about Single Finance is that everything is marked to USD. Not only is APY worked out in USD, our capital protection mechanism is based on your initial investment principal valued in USD. Therefore, Single Finance strategy users won’t lose more than 15% of their capital in USD, as their capital is protected by a stop-loss bot and a rebalancing bot. Just pick your favourite liquidity pairs and leverage exposure on Single Finance, and our bots will handle the rest to keep your capital safe and your sleeps tight.

Liquidity Pool Time Machine

This groundbreaking feature provides real return performance data, including trading fees, DEX yields and price impact, to help users pick their winning pairs. Time Machine also allows users to compare the performance between farming a liquidity pair versus holding the non-stablecoin asset of the same liquidity pair.

Andrés M. | Satoshi Club

That sounds like excellent tools for exchanges, are you working with some of them directly or do you have your own Dex?

Gold Rocket | Satoshi Club

Yeah… It’s really amazing

Kenny Denton Jr.

no, we don’t have our own DEX. so we spend huge effort in searching for quality partner, like VVS, the largest DEX on CRO

Gold Rocket | Satoshi Club

Also we would like to know more about your team. Who is on the project team core?

Andrés M. | Satoshi Club

Oh great name, congratulations

Gold Rocket | Satoshi Club

good partners are the key to the success of the project

Kenny Denton Jr.

Expect experienced IT experts and people from traditional banking industry, we have members who was flying commercial planes as a captain, lawyers who started investing crypto who self learnt to become programming experts.

all these people are determined to develop their careers in Defi and now we are in the same office cooking something great

Gold Rocket | Satoshi Club

Do your team anonymous?

Kenny Denton Jr.

this is a tricky question. we try not to be but for some legal issues of some countries, this is the best option for us to protect the project and the development.

Andrés M. | Satoshi Club

Great, Kenny, happy to know about your team, know we are even more excited to learn about Single Finance. Are you ready to proceed with the community questions?

Kenny Denton Jr.

sure

Gold Rocket | Satoshi Club

thanks for your great introduction

Andrés M. | Satoshi Club

Q1 from Telegram User @Ecmq10

Hello Single Finance team. On your website there is a header that says that the $SINGLE tokens are not yet available for sale, and that the date of the sale is planned for January 19. Can you tell us more details about this sale? I would like to know more. On which platform will it take place? How much will be the allocation of $SINGLE tokens that will be allocated for this sale? Can we participate without registering on a whitelist or do we have to register? What will be the payment methods accepted in this sale? Will you hold a single event or do you plan to hold multiple events on different platforms? Thank you!

Kenny Denton Jr.

Thank you. Looks like you have not joined our TG or visited our twitter. Honestly you have already missed the chance to get qualified for the VVS IGO, as you have to stake a specific amount of VVS for 7 days

BUT we are getting listed on VVS on 19th JAN following up by a double listing on MEXC and gate.io (http://gate.io/) on 20th JAN

For marketing events on these platforms, join our TG for more info. and if you have any question, tag our TG admin and you will be answered shortly!

Gold Rocket | Satoshi Club

Great news!

It is very important to have good listings

Kenny Denton Jr.

sure!

Andrés M. | Satoshi Club

Congratulations, why you decided to do an IGO and not an IDO? What is the difference or benefits?

Kenny Denton Jr.

Well, as you heard VVS was searching a quality project to be its first one of its launchpad and VVS supporters had waited for like 6 months. They finally decided to pick us for some good reasons. this gives an good impression to our investors for sure.

the benefits of having an IGO is that the launch is preheat, organised, and somehow allow us to promote our product in a better way.

you can noticed there are a lot of youtube VDO talking about this!

Andrés M. | Satoshi Club

Thanks for the clarification, our best wishes for this important event for Single Finance

Andrés M. | Satoshi Club

Q2 from Telegram User @ProwGrowl

One more initiative brought by Single Finance is Capital Protector Bot. Besides the idea of easy, fast and predicted strategy used by Bot, how does exactly it operates especially is this volatile market? As a potential user of bot, can I set all position price changes in advance to make right decisions in case of necessity? Are the people who use bot protected from liquidation?

Kenny Denton Jr.

thank you. you know, stop loss is not a rocket science, esp when you are investing in the traditional financial world, we just bring it here to the DeFI world. very often you will see super high APY in some DeFi platform that we think it’s misleading, without considering the assets price itself.So with the stoploss bot together with out fair presentation of your capital position in USD, you have a very clear visibility on the risk exposure of your invetment decision. you are then far from being liquidated

Gold Rocket | Satoshi Club

we understand you

Andrés M. | Satoshi Club

Thanks for the answer, could you tell us in which kind of market can we use your bots? Is most useful on futures, spot, margin trading? Or is the same for each trading style?

Gold Rocket | Satoshi Club

We all work with high risk assets

Kenny Denton Jr.

all yield farming trades on our platform, whether it’s leveraged or not

Andrés M. | Satoshi Club

That’s what I called inclusion, every trader is welcomed

Andrés M. | Satoshi Club

Well @jaheemleh are you ready to go with the next question?

Gold Rocket | Satoshi Club

Thanks for your great answers

Kenny Denton Jr.

can’t wait longer

Andrés M. | Satoshi Club

Q3 from Telegram User @Modrumz120

I learnt that The total supply of SINGLE is 1,000,000,000 can you tell us the requirements needed for $SINGLE token holders to be able to participate in protocol governance and what will be Their benefits in $SINGLE token to early token holders? You also mentioned that SINGLE token holders can participate in protocol governance by staking SINGLE for xSINGLE in the future. Can you elaborate more on how this staking process will work and how does it tend to benefit the $SINGLE token holder?

Kenny Denton Jr.

Talking about protocol governance, we have put in our roadmap for coming year end and to be honest we have not reached a details conclusion but we think that something like what is CURVE doing is good.So stay tuned to our channels, and you will know the latest update

Gold Rocket | Satoshi Club

By the way, we will be grateful if you share your roadmap

Andrés M. | Satoshi Club

We will, do you have an announcement channel?

Kenny Denton Jr.

yes, sure

https://t.me/singlefinancenews

Andrés M. | Satoshi Club

Satoshiclubbers, let’s join

Gold Rocket | Satoshi Club

Thanks for your answers

Gold Rocket | Satoshi Club

Let’s proceed with the new question if you don’t mind

Kenny Denton Jr.

sure

Andrés M. | Satoshi Club

Q4 from Telegram User @Danniblaiz

Of recent, many Decentralized exchanges have been exploited in one way or the other. Of known is the recent exploitation of Cronos, the Ethereum Virtual Machine (EVM) compatible network launched by cryptocurrency exchange Crypto.com. There are many other DEXes that have experienced similar event as well. What is single finance putting in place to ensure that bugs and exploitation like this is avoided and users information and assets secured? Regarding security, you got your first audit report from Certik on 22 Dec 2021, and I read that you will be getting your second audit done in Q1 2022. How was the audit with Certik and what really primed Single finance to want to do a second audit? Would there be other audits in the future as well?

Kenny Denton Jr.

Talking about audit, you will soon be seeing our name on Certik, I heard the update from my team is like within 48 hours. other than that we plan to get a second audit, we will let our fans know once we have decided who is this.

hackers are everywhere and the key is that our developer keep upgrading themselves by acquiring the most updated trend and knowledge in the market.

Andrés M. | Satoshi Club

Great job, congratulations to your team for this important milestone

Andrés M. | Satoshi Club

Would you like to add something before the next question?

Kenny Denton Jr.

Guys, dont miss our double listing on 20th JAN 1800hrs UTC+8, plus all those marketing events, free SINGLE tooken!!!!

Andrés M. | Satoshi Club

Amazing opportunity. Btw, what will be the listing price and initial market cap?

Gold Rocket | Satoshi Club

Kenny Denton Jr.

the IGO price is $0.05 and 50M

Gold Rocket | Satoshi Club

Don’t miss great opportunity Satoshi clubbers

Andrés M. | Satoshi Club

Gotcha, we are sure it will moon

Andrés M. | Satoshi Club

Well, 5th question is knocking the door, let’s proceed. Thanks for your clear answers

Gold Rocket | Satoshi Club

Thanks for your answers

Andrés M. | Satoshi Club

Q5 from Telegram User @JesusFre1tes

It comes to my attention that Single Finance has a “pseudo market neutral” strategy. Can you explain us what are the main applications and benefits that this strategy offers to the users of your platform? How does this approach make Single Finance a super intuitive platform for all my DeFi investments and minimizes correlations with the overall market?

Kenny Denton Jr.

when you are farming a pair of crypto currency, let say CRO/USDT, with 3x leveraged, with 1000 USD. you will borrow $3000USD CRO so you are holding but on the other hand hedge all your position by borrowing which makes you almost risk free.Single Click Pseudo Market-Neutral Strategy to minimize impermanent loss

Single Finance is bringing a human-centric, ultra user-friendly experience and capital protection to DeFi, helping everyone earn more money with an ease of mind. The primary goals of both new and experienced farmers are simple: to earn high yields without suffering too much impermanent loss or being liquidated in a flash. Single Finance users can simply supply assets and enjoy our pseudo market-neutral liquidity mining strategy with just a single click.

Andrés M. | Satoshi Club

An innovative strategy for a volatile market

Gold Rocket | Satoshi Club

it is very important to get high yields and not have irreparable losses

Gold Rocket | Satoshi Club

Thanks for your explanation

Andrés M. | Satoshi Club

Btw, do you have guides about how to use those tools correctly?

Kenny Denton Jr.

Yes, we are preparing some vdos. but as the name Single Click suggests, just a click!

Gold Rocket | Satoshi Club

Great answers

Gold Rocket | Satoshi Club

Many thanks

Andrés M. | Satoshi Club

Excellent, we will be waiting for the videos to use correctly the amazing features you offer to the market

Kenny Denton Jr.

yes, wont be a long wait

Andrés M. | Satoshi Club

Well, time to proceed with the last question of this first part of the AMA, it has been an amazing time learning about a strong project

Andrés M. | Satoshi Club

Q6 from Telegram User @Antoni_azx

According to your roadmap for the beginning of this year your LP Time Machine will support Ethereum and Binance Smart Chain data, however I could see that you will seek alliances with companies like Avalance and Cronos, could you tell us if the compatibility of the LP Time Machine could be extended to more chains? Also, taking advantage of this topic, could you tell us the main advantages of this feature? How will users benefit for the long run?

Kenny Denton Jr.

So, it will support evm chains at first which covering a lot of pairs. surely we will be moving to other chains to have a bigger picture.

The value of it is clear, to allow you to make a better decision before you start trading a pair. just like a back test, with simples clicks.

Andrés M. | Satoshi Club

Which chain is your token developed on and why?

Gold Rocket | Satoshi Club

it would be great to get information about tokenomics

Kenny Denton Jr.

Home chain is Cronos. Because we believe CRO has a lot of potential and it’s back by Crypto.com, and now we are the 1st LYF platform on it

Andrés M. | Satoshi Club

Yes, meanwhile, prepare your questions, Satoshiclubbers

Kenny Denton Jr.

Andrés M. | Satoshi Club

Completely agree, is a good chain with similar features with your project

Thanks a lot for share it and for your complete answers, now we are ready to go with the second part of the AMA. The live segment is coming

Kenny Denton Jr.

love it

Gold Rocket | Satoshi Club

Great! Btw, share with us all useful links to your social media

Kenny Denton Jr.

Don’t forget to follow social media and join our group during the AMA session

Official website : https://singlefinance.io/

Twitter : https://twitter.com/single_finance

Medium :https://medium.com/singlefinance

Discord: https://discord.gg/raQcBPXEWu

Linkedin: https://www.linkedin.com/company/singlefinance/

Telegram : https://t.me/singlefinanceofficial

mc Telegram : https://t.me/singlefinanceindonesia

Gold Rocket | Satoshi Club

Let’s proceed to live

Part 2 — live questions from the Telegram community

Q1 from Telegram user @UAEhamdan

A lot of projects tend to launch only on DEXs forgetting how helpful it is to launch on CEXs as well so are you guys willing to list your token on centralized exchanges ? and can you give us a name of at least one of them too ??

Kenny Denton Jr.

Thank you. the reason that not to be listed on CEX is that the listing fee may be high, and not every project is backed by strong VC and investors. but this is not the case for us, we are double listed on CEX

You will know the CEX names if you follow our TG

Q2 from Telegram user @emmy066

Can you tell us about Single Finance’s global expansion plans? What are you currently focusing on for expansion and adoption?

Kenny Denton Jr.

Good one. we will be supporting more chains in the near future and with the expansion supported by the time machine, we know we are going to the right direction

Q3 from Telegram user @hansoyeon

Can you give an overview of the functions and benefits of the $SINGLE token?

Kenny Denton Jr.

The SINGLE token four main utilities:
Decrease the performance fees paid to Single Finance Lab.
Increase the mining rewards.
Access exclusive Single-click strategies that provide higher returns and lower risks.
Claim our exclusive NFT in a limited period.

Q4 from Telegram user @adaatalay

Do you have a coin burn or redemption system to increase the coin value and attract investors?

Kenny Denton Jr.

If you have read our Litepaper, you know part of the performance fee collected is for buy back and burn, and the fame to fuel the rocket to the moon!

Q5 from Telegram user @cenkkargin0666

Can you tell us about Single Finance Lab, what are the fees for Single Finance Lab? What are the ways to get a discount in Single Finance Lab?

Kenny Denton Jr.

We will release more details on the fee. and by staking SINGLE on our platform, you can lower the fee to a very very low level. stay tuned and perhaps we may issue our own NFT for you to stake and lower fee as well.

Q6 from Telegram user @Tommy_UK

On your platform will there be an option for portfolio Management / Analysis?

Kenny Denton Jr.

Yes! it’s marked in USD on the capital you have invested. clear to understand the profit and loss without misleading APY, you will like it

Q7 from Telegram user @Crypto_84

Recently you said that you have done the audit with “CERTIK”,
Is the report ready?
Or can you tell me when will it be ready?

Kenny Denton Jr.

Like I said, Certik will put our names on the website within 48hours, that’s what we heard from Certik side today

Q8 from Telegram user @iam12312

To be frank I was not aware of the VVS Finance Platform before,
Why did you choose this platform for the my IGO Event?

Kenny Denton Jr.

As long as Cronos chain grow, the projects, including us will become more popular, thats why we chose cRO as home chain. if you look at Defi lama, you will notice the TVL of VVS is doing good and the ranking is high

Q9 from Telegram user @mercy_global

I see that there is a Startup Free offering event on Gate platform,
Can you please give more information on this offering?

Kenny Denton Jr.

Oh……just go there, stake some gate token and you can participate in this exciting game with free SINGLE. act now and open an account.

Q10 from Telegram user @boksiu

Do you consider suggestion from community ?

Kenny Denton Jr.

Of cause, we will also be holding focus group sessions in the future to understand more thoughts from the community to improve the platforms, love the feedbacks

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.

For more information and future AMAs, join our Social Media channels:

English Telegram group: https://t.me/Satoshi_club/
Russian Telegram group: https://t.me/satoshi_club_ru/
Spanish Telegram group: https://t.me/satoshi_club_spanish/
Telegram Channel: https://t.me/satoshi_club_channel/
Twitter: https://twitter.com/realsatoshiclub/
Website: https://esatoshi.club/

Our partners:
Telegram –https://t.me/singlefinanceofficial
Medium –https://medium.com/singlefinance
WebSite — https://singlefinance.io/
Twitter-https://twitter.com/single_finance

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Join https://t.me/Satoshi_club for daily AMA’s with 500USD giveaway each. An educational community about crypto.

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