StaysBASE x SatoshiClub AMA from 11 January
If you know you can do better then do better anonymous said and our guests really do their job better then more others. And today we would like to tell you about the AMA session with our friends from StaysBASE. The AMA took place on January 11 and our guests were Patrick, Product & Strategy Manager at StaysBASE and Luka, the lead blockchain developer at StaysBASE.
The total reward pool was 500$ and has been splitted in 3 parts.
In this AMA Recap we will try to summarise the most interesting points for you.
Part 1 — introduction and questions from the Telegram&Bitcointalk community
Patrick: Hello everyone! We are really glad to be here! @cr4zi3st can’t say hey unfortunately
Luis Merino | Satoshi Club: Maybe you can start making us a brief explanation about StaysBASE while we add your mate as an admin. And a short introduction about yourself and how did you get involved with StaysBASE
Patrick: Yeah, first things first
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 really think that crypto is the way to go and as we can see now, the whole crypto ecosystem has really shook 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!
Luis Merino | Satoshi Club: So you are an early adopter
Patrick: For some yes and for some no. If you know what I mean
As for StaysBASE goes, it 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 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.
Luka | CEO: Ah, hey everyone! Happy to be here with you today! Even if with a small delay haha :sweat_smile:
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 and Patrick a few months ago to create blockchain projects and we’re happy to share with you our newest platform — StaysBASE.
Patrick will continue with the brief intro about the platform
GoldRocket: Impressive experience in crypto! :+1: And a great idea with gold!
Patrick: Where were we? Oh an example, right? 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 of the Supply of StaysBASE Token.
Luis Merino | Satoshi Club: Nice example, I undertstood it
Q1 from Telegram user @cengizhantekin
While BASE Protocol is referring to Crypto market, StaysBase refers to Crypto, Stock and Gold, so I think we can say StaysBase is an enhanced version cause crypto is only one subelement of economy which includes several ones. Therefore the effects of these subelements are not same. So why do you consider them equivalent and taking the average change in cap of three while rebasing? Besides, where do you get these change percents from, is your source a legit one?
Luka | CEO: We didn’t want to complicate the initial version of the protocol with advanced weightings and consider them equal. Why? Because we want people to speculate on the movement of the market as a whole — and we believe these three markets equally weighted give a great representation of the entire market sentiment.
We also didn’t want to create a system directly pegged only to one market or where one market has the major weight as this might lead to negative rebases — for example, today if we followed only crypto, the daily rebase calculation would have been very negative.
Patrick: We are fetching data for crypto market cap from over 5 providers, namely: coin market cap, 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
For the gold market: goldapi, metals api and rapid api
Luka | CEO: So as you can see we have several trusted sources from which we gather data.
Luis Merino | Satoshi Club: Got it! Great explanation! Just a question If any platform has any problems, you gather data from the others?
Luka | CEO: Yes, exactly, that’s why we’ve aimed to include at least three per each source — in case if one breaks down, we still have two backups.
Luis Merino | Satoshi Club: Has something similar ocurred already?
Luka | CEO: That’s hard to answer because we’re still in the private round of our project — and no other project has done the same, but during testing for the last month, all data entries were 100 % complete from all sources.
Luis Merino | Satoshi Club: Okay sorry, I was referring to some other projects that follow the same method. I didn’t clarify my question haha Thank you Luka
GoldRocket: Btw… You had AMA in JustLiquidity group today, are they your partners?
Patrick: Yes, they are
We will have our initial IDO on their DEX on Binance Smart Chain -> JulSwap
Q2 from Telegram Username @konditer_rolex
You chose Binance Smart Chain for your project. Do you think this blockchain is good enough for such purposes? Why not the popular Ethereum?
Luka | CEO: Our platform is built on BSC instead of Ethereum blockchain offers almost zero fees and transactions are almost instantaneous. During this BTC and ETH price surgers 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. Of course BSC has a smaller community and total volume, but that’s the reason we’re trying to bring more awareness to the “cheaper” blockchain and get some people to move over
We are also the only project on BSC with rebase functionality which makes it unique!
Luis Merino | Satoshi Club: Zero fees. That’s important
Luka | CEO: Yes and only three seconds to confirm transactions
GoldRocket: How is the fees paid? Bnb?
Luka | CEO: Yes, with BNB
GoldRocket: This is the most pleasant thing to be honest. ETH fees make Me have a heart attack
Patrick: Yeah, it really is a pain nowadays! :sweat_smile:
Q3 from Telegram Username @sirdefi
You mention that StaysBASE “goes one step further” than BASE, by pegging its token not only to the capitalization of the crypto market, but also to the capitalization of the world market and the capitalization of the gold market. What is the reason for this? Don’t you think it would be simpler and more predictable to depend on only one type of market, than to depend on so many markets and with such different behaviors?
Patrick: The StaysBASE Protocol acts as a one-stop trading instrument which allows holders to speculate on the entire crypto industry, world stock market and gold market simultaneously, rather than just one token or a select portfolio of multiple. StaysBASE is supposed to be a more holistic reflection of all the three markets.
Luka | CEO: Main benefit of this system is that it lowers the bearish impact of one specific market to the price of SBS token. This means investors will take less risk when investing in our platform. Alongside with great security we are offering we stand out from our competitors.
Therefore the main reason is to not create another copy of rebase projects which only have negative rebases one after another, in some cases destroying the project.
Patrick: In a lot of cases unfortunately :point_up:
GoldRocket: Yes, this is truly a unique solution to several problems at once.
Luis Merino | Satoshi Club: You are right. Bearish market doesn’t affect that much
GoldRocket: Cryptocurrency market capitalization is outstripping gold market capitalization.
This is what your website says.
I see you have analyzed the markets well.
Patrick: We try our best!
Q4 from Telegram user @k2ice
I learnt StaysBASE already announced partnerships with JustLiquidity and Vox Finance. I understand that the partnership with JustLiquidity is to use their DEX (JulSwap) to conclude your first IDO project on Binance Smart Chain. But what major reasons are behind the partnership with Vox Finance?
Luka | CEO: We’ll be using the Vox Finance platform to offer a private staking pool to users so that they will be able to get first-hand access to the token on Ethereum once we set up the transfer bridge between the two blockchains.
Luis Merino | Satoshi Club: Both of them have been here also
GoldRocket: You thought about that too! :+1:I don’t get tired of admiring!
Patrick: There is a lot of hours of brainstorming behind us
GoldRocket: Real team work! I wanted to ask how can I join whitelisting?
Patrick: Of course, please visit staysbase.org/join if you’d like to apply :+1:
Q5 from Telegram user @reinleoken
Offering 46.9% in private sale, doesn’t that leave the token at the mercy of whales? And doesn’t it defeats the “it could be a good entry point for someone who isn’t sure about which assets to invest individually on” purpose, if only 2.34% is left for the public? Why such a high percentage for private sale and that low for the public?
Luka | CEO: While the percentage offered in the private sale might be high, you need to realize that the minimum purchase amount is quite low — only 200 $ to join. This is why we believe your statement is not true. We’ve also set only a 20.000 $ max buy in the private round which means we’ve got a nice portfolio of buyers in the private round, which we can also verify from our side.
The public sale is only the last chance for people to enter before the initial listing on 14.01. This is why we’ve implemented it this way. And in either case, the public sale has still 50.000 $ up for grabs with no minimum limits.
Luis Merino | Satoshi Club: Initial listing almost here… 3 days to go :tada:
Luka | CEO: Three more days and we’re live
GoldRocket: You have a young and public team! Do you have an office or do you work remotely?
Luka | CEO: We work remotely for the time being due to obvious reasons, but we all know each other very well
GoldRocket: Share useful links and information with Satoshi Clubbers please!
Patrick: Website: https://staysbase.org/index
Ann Channel: https://t.me/StaysBASENews
Telegram Group: https://t.me/StaysBASE
Be sure to join our website and telegram for more information — hope to see many of you there!
Q6 from Telegram user @johana0012
In these last 2 days I have visualized that Bitcoin, despite how firm it is, has suffered a decline, which is missing for people who often invest, due to the volatility of the market, what is offered by StaysBASE to reduce these market risks?
Luka | CEO: I would say we’ve already covered this question, but let me just briefly explain again the main features of our platform to reduce such a market risk.
We’re basing our token economy on a correlation with three major markets — crypto, stocks and gold. While Bitcoin and crypto in general has severely declined in the last two days, the other two markets have not been affected in the same way. That’s why we’ve done this distinctive feature to “balance out” each market sentiment and to make it all much more steady and make rebases more controllable
Part 2 — live questions from the Telegram community
Q1 from Telegram user @Spott
BINANCE and other CEX exchanges have not listed any rebase token,
Why is this a norms, and do you plan to make that happen ?
Luka | CEO:Hey Forte! Yes, it’s true that rebase tokens are difficult to list on CEXes due to the unique method of determining the balance of a user’s wallet. However, this doesn’t mean that we won’t push forward the idea to some exchanges. We’re already talking to some partners that we’d like to work with to list on their platform. There have been some rebase projects that have been listed and we’d like to be one of the next ones!
Q2 from Telegram user @yousan55
About $SBS Whitelisting. Do you need to pass a KYC to join presale? How much is the minimum/maximum investment amount?
Patrick:Hello Khalid! No, no KYC needed for the presale. The minimum investment amount is 200 $ and the maximum is 20.000 $, so we’re also accepting entries from smaller buyers — we’d like to give everyone a chance to join.
Of course, private round buyers will receive a discount on the price, so make sure to visit staysbase.org/join if you’d like to apply to the whitelist
Q3 from Telegram user @russell909
What’s StaysBASE long-term development plan? How do you make users believe that StaysBASE is a long-term high-quality project?
Luka | CEO: Rebase protocols have a unique long-term preposition — because of StaysBASE’s dependency to three different markets, namely crypto, stocks and gold, holders can speculate on the value of the token price before rebase calculations happen. 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. The longer you stake, the higher your rewards will be.
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.
Q4 from Telegram user @araceley
Strong tokenomics are the key to any crypto project’s success. Can you tell us $SBS Tokenomics? Staysbase
Patrick:Hey Araceley, please take a look below to find the info about the tokenomics.
Q5 from Telegram user @cindy_crypto
A lot of blockchain projects are using erc-20 network but you are using BSC. Why did you chose BSC?
Luka | CEO: Our platform is built on BSC instead of Ethereum blockchain offers almost zero fees and transactions are almost instantaneous. During this BTC and ETH price surgers we can see gas prices skyrocket and we believe that to be still a great problem in the Crypto sphere. We are eager to fix this problem.
Q6 from Telegram user @imrealsatoshi
You can collect the data for gold and crypto caps but where do you get World Stock Market Cap?
Patrick:Hey Satoshi, what is going on with BTC lately? :stuck_out_tongue_winking_eye:
To answer, for the stock market: alpha vantage, polygon io, twelve data, yahoo finance and market stack
Q7 from Telegram user @meml97
I noticed that there is no Roadmap to be seen on your page nor your lightpaper, what can you tell us about what you have planned for StaysBase after launch, or in general for this 2021?
Luka | CEO: Right now we are in our private round to gather funds for the project launch .We have completed our seed round where we gained 100k$ in less than 4 hours, so we can see there is large demand for the project!
We are going live on 14.01. with the full platform and the first rebase will be conducted 24 hours thereafter. We will be 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 cryptosphere.
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.
Q8 from Telegram user @CryptoZaratustra
Does the liquidity pool staking time affect rewards? How can you maximize your profits at StaysBASE?
Luka | CEO: Yes, the liquidity pool staking will offer higher rewards for people who will commit their rewards for longer periods. You can maximize your profits by becoming a LP provider on JulSwap and then depositing it in to the platform to gain extra rewards. This system will be live on launch.
Q9 from Telegram user @coinerman
Your idea is quite innovative. How many developers do you have on your team and what is their background? Do you have enough resources to create an innovative project of an international scale?
Patrick: Hello, we have 3 developers on our team, but we get emails for any open positions quite often! We are still in the early stages, but we believe that we have a bright future in front of us. We have completed our seed round where we gained 100k$ in less than 4 hours, so we can take this as a glimpse into the future
Q10 from Telegram user @warny
Have your smart contracts been audited by any third party firm yet, if yes, have all issues been resolved and your contract now secured? Where can we view the audit report?
Luka | CEO: The code is forked from BASE protocol which was audited by many third party companies (we’re using their latest versions which have had all changes done). We are in a DeFi space for some quiet 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 past experience to deliver the most safe and secure platform there can be.
Part 3 — Quiz Results
In the final part we tested your knowledge in terms of StaysBASE. They’ve prepared 4 questions for this part. The total reward pool for quiz was 300$.