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 CafeSwap and our guest was Chef | CafeSwap.finance, the Chef of CafeSwap, and Cryptace | CafeSwap, the manager of CafeSwap. The AMA took place on 21 February.
The AMA session was divided into 3 parts with a total crypto reward pool of 800$
In this AMA Recap, we will try to summarise the most interesting points for you.
Part 1?—?introduction and questions from the Telegram&WebSite
Mary | Satoshi Club:
Hello again Satoshi Club! We are happy to announce our AMA session with CafeSwap! Welcome to Satoshi Club
Chef | CafeSwap.finance:
Hello, Satoshi Community.
Luis Merino
| Satoshi Club:
Hello everyone! We are pleased to have the CafeSwap team today with us.
Chef | CafeSwap.finance:
Glad to be here, Thanks for inviting.
Luis Merino
| Satoshi Club:
Welcome to this great community
Chef | CafeSwap.finance:
Yes Ofcourse, It’s a great crypto community.
Cryptace | CafeSwap
(Won’t dm first):
Good day to the community
I’m one of the managers of Cafeswap and I’ll be supporting our Chef.
Luis Merino
| Satoshi Club:
Hey! It’s a pleasure to have you here.
Cryptace | CafeSwap
(Won’t dm first):
Thank you for your warm welcome guys
Luis Merino
| Satoshi Club:
So please, as an introduction, can you please tell us something about yourself and what CafeSwap is?
Chef | CafeSwap.finance:
Talking about myself, I am the chef of our cafe who prepares delicious coffee for you guys. I have started my journey in crypto in 2017 and have been exploring the market since then.
Cryptace | CafeSwap
(Won’t dm first):
As I’ve said earlier. I’m one of the 5 managers in our cafe and I’m glad to be part of it.
Mary | Satoshi Club:
I see that you all big coffee lovers
what menu do you have for your guests?
Chef | CafeSwap.finance:
We have started CafeSwap with a vision to offer a better DeFi ecosystem on the BSC chain, Which offers great yields on yield farming and we aim to bring all the scattered parts of Defi in one place.
We have a great menu to serve our users, with a wide variety of coffees brewed with excellent ingredients.
Cryptace | CafeSwap
(Won’t dm first):
And there will be a lot more in the future
Chef | CafeSwap.finance:
In fact, we have distributed some free coffee’s to our early users
Let us know when you will come to visit our cafe. We might give a special offer to all of you.
Mary | Satoshi Club:
But we can still be early birds
Thanks guys for your intro! Are you ready for the questions from our community?
Chef | CafeSwap.finance:
Yes, As Always.
Luis Merino
| Satoshi Club:
Q1 from Telegram user @Arisabela BINANCE Smart Chain is becoming one of the most popular CEXes, however, as it’s said in a medium article of your own BSC is now becoming the hub of DeFi with increasing numbers of scams. So, how is Cafe Swap getting ahead of this problem to demonstrate this is the legit and well-based project?
Chef | CafeSwap.finance:
This is now our 2nd week.
Many recent projects rug pulled within 48 hours or less after they’d gained a decent amount of tvl. We experienced hardship because of this, Many People were Scared to put their money on our website. But because of the team efforts, and the support of our community.
Many developments were achieved. We Secured Partnerships and there will be more in the near future. We applied for Certik Audit and it is now listed in the Onboarding section of the Certik website, We build this project as we build trust in our community.
Cryptace | CafeSwap
(Won’t dm first):
We are very thankful to our community as they played a big role when we suffer from a depressing time for our project. They motivate us to do more. They made suggestions that improve our project.
We love you guys
We are all brewmasters
Mary | Satoshi Club:
Certik is really cool! Do you know approximately when the report will be ready?
Chef | CafeSwap.finance:
We are already on the list of onboarding projects, The exact date of the report isn’t available but it is expected in 10 days.
Mary | Satoshi Club:
Super! It’s not too long
Btw, BSc was your first choice or you had thoughts to launch on another chain?
Chef | CafeSwap.finance:
Yeah not too long, Until then our users will brew some coffee. We have been a fan of Binance Smart Chain, Since the increase in transaction cost on Ethereum, The chain is developed by Binance and has a good implementation for mobile and desktop users. This is the reason we were attracted to it.
But we aren’t stopping here, as soon as we are well established on the BSC chain we will have cross-chain yield farming on the HECO chain Aswell.
Cryptace | CafeSwap
(Won’t dm first):
And actually, BSc network has its own potential for defi project like us.
Chef | CafeSwap.finance:
Yup.
Luis Merino
| Satoshi Club:
Sounds amazing
Mary | Satoshi Club:
Q2 from Telegram user @lzamg CafeSwap created the tokens BREW and CAFE. You specify that CAFE has no use case in your platform, so why create it? What are the benefits for the CafeSwap users of investing in CAFE?
Chef | CafeSwap.finance:
This is a pretty interesting question.
As said in our documentation section the main token that will be driving the ecosystem will be the $BREW token, This is the token that will be awarded as a reward to our farmers.
The CAFE’ Token is just a proof of stake token it resembles that a user has staked his/her $BREW token in the staking pool, He/She will be given the same amount of tokens that are staked by the user in the pool.
When the user unstake from the staking pool the CAFE token will be taken back from the user wallet and will be burned immediately.
Hence the token does not have a real use-case on the platform and it is not mandatory to trade CAFE’ token as you may not be able to unstake your BREW from the staking pool. This is the reason we at cafeswap do not promote trading of CAFE’ Token.
Cryptace | CafeSwap
(Won’t dm first):
Cafe token will determine how many brews you had staked on the website.
Mary | Satoshi Club:
Wow, did such cases have already occurred? I mean that users found that they couldn’t unstake?
Chef | CafeSwap.finance:
These cases have not encountered until now, But users may encounter this if they sell their CAFE’ Tokens in an unethical manner.
Mary | Satoshi Club:
Got it! Btw, I am getting a lot of questions
what about new pools?
Chef | CafeSwap.finance:
We are getting these questions too, We just added the BREW-ETH pool two days ago now we have a total 5 farming and 1 staking pool.
Luis Merino
| Satoshi Club:
Which ones are the pools? And their APR?
Chef | CafeSwap.finance:
New partnership pools will be added in the coming weeks, Users can also earn other tokens like Ditto, PolkaDot, and many more in the coming future.
Cryptace | CafeSwap
(Won’t dm first):
We will add pools in the future as an agreement from partnerships and our community can propose a new pool in our governance.
Chef | CafeSwap.finance:
The Pools present now are, BREW-BNB, BREW-BUSD, BREW-CAKE, BREW-FLP and BREW-ETH and we have a staking pool where users can earn BREW by staking BREW. We had these pools in the initial days but they are disabled as of now, These pools will be re-enabled when we have enough liquidity on BREW.
Cryptace | CafeSwap
(Won’t dm first):
Stables are out for now as it may not give value to our token. But when we release our own dex. We will add them to the farming pool.
Luis Merino
| Satoshi Club:
When will the DEX be online?
Chef | CafeSwap.finance:
It is included in our roadmap, which will be released today, It is scheduled for this quarter itself. Users can enjoy the benefits of DEX aggregator as of now, Which is internally connected to PancakeSwap.
Luis Merino
| Satoshi Club:
Do we have the hour for the roadmap release?
Chef | CafeSwap.finance:
The roadmap will be live in less than 6 hours in our documentation section.
Luis Merino
| Satoshi Club:
Do you want to add something? Or shall we move to Q3?
Chef | CafeSwap.finance:
We can move on to Q3.
Mary | Satoshi Club:
Q3 from Telegram user @NALiYUWUNTi You offered a very high APR for BREW stakers, what if its price dumps due to whales selling how will you manage and control whale dumpers? Will the promised APR get affected?
Chef | CafeSwap.finance:
Nice Question! In fact, we have faced this issue in our early days.
We have added a special twist to our contracts deployed that is the emission per block or the minting of rewards per block can be changed by the owner whenever necessary. Also, we had introduced a special burning mechanism “Staking Pool Burn Mechanism” this mechanism will reduce the APR on the staking pool to make it more sustainable this mechanism will be turned off when the APR goes below 1000%. This is the only reason we have disabled the stable pools from our platform as of now.
Mary | Satoshi Club:
Which was the highest APY?
Tell us, I love these numbers
Chef | CafeSwap.finance:
As you can see in our announcement channel. We did a reward reduction to reduce the emission, these changes will lower the reward per block and it will add more value to our token in the long run, brew will be used to farm different tokens from our project partners and we will add additional features for a burning mechanism such as Initial Dex and Farm Offering, Lottery. Etc.
The highest apy% right now is brew/flp . Flp token is from the supra team as part of the partnership agreement with them.
Luis Merino
| Satoshi Club:
Please share the link to your announcement channel with us.
Chef | CafeSwap.finance:
The highest number of APR was to BREW staker’s, Which was around 6000–7000%, Now it is reduced down to <2000% after applying the “Staking Pool Mechanics”.
Yes, I will be happy to share it @cafeswapann (https://t.me/cafeswapann).
Mary | Satoshi Club:
I already saw 10000% and more
but just for some let’s say hours.
Luis Merino
| Satoshi Club:
7000%
Cryptace | CafeSwap
(Won’t dm first):
This was from the beginning as we’re in the early stages of our project
Mary | Satoshi Club:
But for the long run, better lower and you guys are here for a long as I see
Cryptace | CafeSwap
(Won’t dm first):
Soon it will be less apy% but there will be an increase of value for brew token.
Chef | CafeSwap.finance:
You may see even more up to 100k% when we start the new pool, but it won’t last more than 10 minutes.
Mary | Satoshi Club:
I think this is much better for CoffeSwap project
Luis Merino
| Satoshi Club:
That’s the key
Mary | Satoshi Club:
To be honest I saw 450000% yesterday
no, it’s crazy and as you say don’t last for a long time.
Chef | CafeSwap.finance:
Yes, we want a reduced and satisfactory APR to sustain the name of “CAFESWAP” in the market.
Mary | Satoshi Club:
Ready to go to the next question?
Chef | CafeSwap.finance:
Yes, Ready and excited too
Mary | Satoshi Club:
Q4 from Telegram user @aym1212 You mentioned that Additional 1000 tokens will be minted by the team for airdrop and community stuff. So, I will ask you what is the participation rate of each( Marketing/Partnerships/Community Rewards/Contest)?
Chef | CafeSwap.finance:
We have mentioned that there will be an initial mint of 1000 tokens in our documentation section,
These funds will be used for constructive purposes and will be given back to the community in the form of a contest.
We have distributed 50 tokens from this allocation for the initial airdrop which was held at the start of our platform.
100 tokens from this allocation will be given out to 10 members tomorrow through a random draw of our “Holders Giveaway”.
We have many more partnerships in discussion and we have locked partnerships from some of them like Ditto Money and Supra.
The remaining funds from this allocation will be used for more contests like meme contests, video contests, and many more to come.
Please stay tuned to our social handles for more info.
Talking about the participation rate. Our team is overwhelmed by the response we are getting from the community, The initial airdrop is given to almost 230 addresses
Cryptace | CafeSwap
(Won’t dm first):
We want to reward our lovely brewmasters who support us and wanted them to stay with us
Chef | CafeSwap.finance:
We have almost 1000+ entries in our random draw for “Holders Giveaway”, These winners will be announced on 22 Feb.
Mary | Satoshi Club:
How many holders do you have, btw?
Luis Merino
| Satoshi Club:
230! Not a small number.
Chef | CafeSwap.finance:
As said we are just 2 weeks old projects, We have almost 2000+ Brew holders and 1000+ CAFE’ holders which are staker’s actually.
Cryptace | CafeSwap
(Won’t dm first):
2089 holders for brew token to be exact.
Mary | Satoshi Club:
Thanks for your answers! Let’s proceed?
Chef | CafeSwap.finance:
Yes.
Mary | Satoshi Club:
Q5 from Telegram user @sofiaisla Regarding the stake burning mechanism, you have decided to incorporate a new recording mechanism that will take place on Sundays of each week between 6 a.m. UTC and 8 a.m. UTC. Can you explain a little about that and what will it do?
Chef | CafeSwap.finance:
This is a nice question.
We believe in community and listen to the voice of our community through our Voting/Governance platform.
We have decided to allocate a 25% of the total rewards minted to our stakers but in our initial days the staking APR was too high and it was disturbing the ecosystem so one of our community members raised his opinion about it and we implemented a burning mechanism for it.
To reduce the staking APR without lowering down the reward per block we have come up with the “Staking Burn Mechanism”. Where we will contribute 20% of the developer fee generated to the staking through a special address and the whole rewards generated will be burned every week on Sunday.
This will lead to a massive burn every Sunday, where the total burn will be 70% from the dev fee we generate.
These actions were taken to lower down the APR and to sustain the ecosystem of CafeSwap.
You can find more details about it here: https://docs.cafeswap.finance/burning-mechanisms/staking-pool-burn-mechanism
Mary | Satoshi Club:
Did you already burn some?
Chef | CafeSwap.finance:
We have almost burned 7% of the total supply until now, The recent burn happened today at 6 AM UTC Where we burned 14000 BREW Tokens worth $165,000.
Mary | Satoshi Club:
Did you already have 10 mln tvl?
You have 8768921 now.
Chef | CafeSwap.finance:
We have touched 10M TVL at the initial days when we were having stable pools and also we had an ATH of BREW at $68 but the stable pool whales dumped the token so we disabled it.
Mary | Satoshi Club:
Understand! Hope you will double your tvl in some days
Cryptace | CafeSwap
(Won’t dm first):
Yes. They don’t have any value for our website as of now.
Mary | Satoshi Club:
Thanks for your answers! And just one 6th question left in this part
Q6 from Telegram user @Brainchest Every warning on the site acts on me like acid on iron, because I trust my money earned with blood and sweat. Tell me , today at 15: 00 (Moscow time) i see this
Warning: The data on this site has only synced to Binance Smart Chain block 2332537 (out of 5071273). Please check back soon.
What’s it? Poorly working contract I will make a swap and wait…. years until the data gets into the block or is it nothing to worry about?
Chef | CafeSwap.finance:
It is nothing to worry about it.
So we said before in our documentation we are pancakes was a fork and will be working to add on more features to the ecosystem to make it more sustainable and rigid,
As of now we have launched with farming and staking pools which are handled by our contracts but the exchange background is still pancake swap, We have just developed a user-friendly UI to access it with ease but the backend is connected to pancakeswap.
The error you are telling about is from the info page and there is nothing to worry about it because the info pages are used for analytics only and do not affect the overall functionality of CafeSwap.
The changes will be fixed as soon as the pancake team fixes them, This happened due to the high user influx on Binance Smart Chain in recent days.
Cryptace | CafeSwap
(Won’t dm first):
When we move to our own dex in the future. We will also have our own info page and we will try our best so that users won’t experience this kind of warnings or errors when using our website.
Mary | Satoshi Club:
And… Some coffe?
I guess you will have 120 seconds before live part
Chef | CafeSwap.finance:
Let’s begin the community question round
Mary | Satoshi Club:
Let’s go
Part 2?—?live questions from the Telegram community
Q1 from Telegram user @ LI
BREW has an unlimited supply and it’s controlled by various mechanisms. Can you mention the principal mechanisms and explain how they work? @CafeSwapChef
Chef | CafeSwap.finance:
To keep the farming going $BREW token has no maximum supply,It is a uncapped token to provide value to $BREW we will arrange partnerships and many other things like initial dex offering only accessible to $BREW holders, We would control the supply of $BREW token with the help of burning mechanism and reduction of block rewards whenever necessary.
Q2 from Telegram user @ Araminah
Hello
@CafeSwapChef @jescajim9. What differentiate you from other yield-farming Projects out there and what’s so unique about CafeSwap that keeps you ahead from your competitors?
Cryptace | CafeSwap
(Won’t dm first):
We have built cafeswap with a vision to reunite all BSC projects.
We want to build a complete financial ecosystem under one roof.
We started with yield farming and staking and we will be developing according to our roadmap.
We will bring Decentralized Exchange, Initial Dex Offering, Initial Farm Offering, Vaults to auto compound the user’s earnings in the cafeswap ecosystem.
Q3 from Telegram user @ NDee
What is the maximum time limit we can set as a timelock?
Chef | CafeSwap.finance:
The maximum limit we can set for timelock to enhance the security of our platform is of 30 days at present it is set to 12 hours and will be extended to 24 hours in near future.
Q4 from Telegram user @ Dary
I aspire to have a long-term investment in this project, but I am uncertain at the moment. How can you test and ensure that this CafeSwap project is safe and profitable?
Chef | CafeSwap.finance:
As said earlier we will be undergoing a Certik audit to secure our smart contracts after that there is <1% chance of exploit to happen, So it is pretty much a safe investment, Talking about profits the farming and staking are structured to give you profits in long run.
Q5 from Telegram user @ TakeDown
Hello @CafeSwapChef. You have a system similar to Pancake, what would the governance system be like with CafeSwap?
Chef | CafeSwap.finance:
We are the same as pancakeswap with some twist to the ecosystem to make it more sustainable and aim to become more community-oriented, so we have launched our own voting/governance platform which is provided by snapshot labs and every major project uses the same, Our users will have access to open proposals and vote on it if the proposals are sense full we will try to implement those. You can access the voting dashboard here: https://voting.cafeswap.finance
Q6 from Telegram user @ Apocan
What is your plan with CEX listing? When will it happen?
Chef | CafeSwap.finance:
We will be planning for Centralized exchange listing as soon as we get much more exposure and community support, we will get it done as soon as CafeSwap is well established. Currently, we are in touch with some good CEX’s out there for listing.
Q7 from Telegram user @ Kabir Singh
When end staking or its long lasting staking, any other benefits of this staking?
Chef | CafeSwap.finance:
The staking offered by CafeSwap is ever going there is no end to it. We will be getting more partners and more pools will be opened to offer our community a wider perspective of staking, That’s the reason our token supply is not capped because we don’t want to limit our investors base.
Q8 from Telegram user @ James01
Hello chef. Why did you choose “BREW” as the ticker and not “COFFEE” or “CAFE”, any story behind it?
Chef | CafeSwap.finance:
We planned to choose “COFFEE” as a ticker for our token in our testing phase but after a deep down research we got to know there are many “COFFEE” ticker’s out there and we had to do something different to highlight ourselves. So we choose “BREW” which was not present in the market before.
Q9 from Telegram user @ Robocop
From what I learn today from this AMA, the Cafe swap really great and good project. Can you pls share how to purchase $BREW token? Will you have a public sale or a private sale?
Chef | CafeSwap.finance:
We have ended the public sale for “$BREW” in which we have raised 175 BNB in just 1 minute, you can buy $BREW from our official exchange UI https://exchange.cafeswap.finance
Q10 from Telegram user @ Zaky Albiane
How will you ensure that you will not scam your investors or how will you avoid being rug pulled?
Chef | CafeSwap.finance:
We have been enforcing this word from the first day itself, We even had a poll to choose the security of our platform by our users, we mentioned the merits and demerits of “Migrator” and “Timelock” functions the blog is live on https://cafeswap.medium.com, We had an all-time high price of $68 and a huge TVL of 10M+ in our initial days and we dropped down up to a TVL of 0.7M and an all-time low of $2.3, If we had to rug our investors we would have done it at that time, We are here for a long time and we want to offer our investors a better and secure environment.
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 Community?—?https://t.me/CafeSwap
Medium?—?https://cafeswap.medium.com
WebSite?—?https://docs.cafeswap.finance
