Telegram AMA with LazyMint
This week we had the pleasure of speaking with @PaguInfo in the CertiK Foundation Telegram. PaguInfo is a crypto influencer, as well as a blogger, specialized in the DeFi sector in their region. LazyMint is a new type of Yield Farm integrated with Delegated Farming on Binance Smart Chain.
If you missed the chat, don’t worry: here’s a recap of some of what was discussed.
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Welcome @PaguInfo would you please start with an introduction of you and your project?
PaguInfo: LazyMint is a new type of Yield Farm integrated with Delegated Farming on Binance Smart Chain. You can find it on https://lazymint.finance. We have an ILO, Initial Lazy Offer, which is a feature where users can invest in other promising projects with LAZY-BUSD LP. We have completed 3 ILOs already! You take a look at them on our website’s ILO page. These projects will make great synergy with LazyMint in the near future.
There are some new features listed on the platform as coming soon — can you tell us about the ‘vacation’, & ‘lottery’ features?
PaguInfo: Vacation is the same as Pancake’s Syrup Pool. Users will be able to farm other tokens staking LazyMint’s native token. Lottery is also the same as the old version of Pancake’s. Users can buy tickets with the native token and win rewards.
So you said you’ve completed 3 ILO so far. Do you have more planned/coming up?
PaguInfo: We’re currently discussing it with a few other interesting projects which requested us to proceed to ILO. We will announce it soon on our Twitter @LazyMintFi, and our Telegram, https://t.me/LazyMintAnn.
In listing your lottery feature do you have any regulatory concerns?
PaguInfo: It depends on the users’ regional regulation. It would be better not to use lottery or any gambling feature if there’s any restriction of such features in your region or if any regulation applies to you by the principle of personal jurisdiction. Otherwise, there’s no worry about using it.
What steps have you taken to ensure that your swap is safe? Will you continue increasing security with new feature releases?
PaguInfo: That is why we chose CertiK as our auditor! We’ve also applied for CertiK’s Skynet, the 24hrs real time scanning feature, and Shield, the insurance covering loss from attacks. I believe CertiK is the best choice in terms of security. For the new features, we will of course stay focused to prevent any malicious incident from happening.
So every year, month, day, tons of funds are lost to mismanagement of private keys. How are your contract keys managed? Are there plans for decentralization? A timelock? Multi sig?
PaguInfo: We’re preparing it based on the law in my region, called ISMS which is an abbreviation of Information Security Management System. It defines and manages controls that an organization needs to implement to ensure that it is sensibly protecting the confidentiality, availability, and integrity of assets from threats and vulnerabilities. It’s the law that will be applied for the companies which deal with cryptocurrency.
Live Questions From Community:
What makes this yield farming different from other yield farmings and how does it work? How will it benefit me compared to others? When will $LAZY be listed on Coinmarket cap?
PaguInfo: Unlike other projects, LazyMint has delegated farming which adds a profit source to make the project sustainable and the backers from the communities are strong. That also makes LazyMint different from others. With that trust, there are many requests for ILO from several projects, which I believe will make a great ecosystem and circle of partnership that will enforce the value of the project. As for the Coinmarketcap question, I’ve already requested for them to list us. I believe it will be done soon since the CertiK audit is complete now! For any DeFi project, I believe the core value is the high APY.
Many projects are really good on paper, but when it comes to product delivery they keep on failing. What makes LazyMint different from those and how can you assure that everything in your paper can come to fruition?
PaguInfo: I think every yield farming project has a lifespan. Mechanistic features, such as lottery, harvest lock, tax, and so on are just to extend the life of it, but I believe that trust and the ecosystem based on it makes a project sustainable more than just mechanistic features.
With continued partnership and synergy made by it, LazyMint can sustain longer and longer, like PancakeSwap does.
As a very young and new project, how can you convince crypto users that LazyMint is a project with a lot of potential and what competitive or unique features do you have that will attract investors and more users?
PaguInfo: Convincing crypto users is a crucial element for a DeFi project to get new liquidity and keep the project running. We are doing aggressive marketing and promotions to give credibility to the users that we are actually putting effort to make the project successful. The ILO (Initial Lazy Offering) feature is one of the unique features LazyMint has. It incentivizes users with profit from another project and benefits LAZY holders by burning half of the fund allocated from ILO.
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That wrapped up this week’s AMA with PaguInfo from LazyMint. For more AMA sessions with top DeFi and crypto projects, keep an eye on our social channels and subscribe to our YouTube channel.
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This interview has been edited for clarity and concision.