Trang chủ Phân Tích AMA reB∆SE Recap hosted by Vietnam Blockchain Community (29/09/2020)

AMA reB∆SE Recap hosted by Vietnam Blockchain Community (29/09/2020)

At 01pm (UTC) on September 29, 2020, VBC hosted the AMA show with reB∆SE project, whose representative for this AMA is Mr. f∆rmer John – Yield Farm & DeFi specialist.

Brief introduction of reB∆SE:

reB∆SE is an elastic supply token that powers a whole suite of financial of products and new monetary system! The token $REBASE is an elastic supply token with a stimulus, farm and a variety of other features, and we will include the community in its control and decentralization, eventually transitioning to complete community control!

Below are some typical questions that the community has asked the guest:

Question 1: Can you list 1-3 killer features of REBASE that makes it ahead of its competitors? What is the competitive advantage your platform has that you feel most confident about?

Answer:

1. $REBASE has a liquidity mining incentive called a FARM, a unique thing about our future version of the farm is that liquidity miners can be paid more if liquidity gets locked, more like a bond. We are still doing research and development, but the bond itself should be tradable and still usable as collateral in other DeFi systems too! This will be attractive for providing liquidity, more than other yield farming systems!

2. The stimulus! $REBASE is an elastic supply token where we have 1 normal rebase daily, but also a stimulus where people can be paid for staying up to date with the latest monetary policies! Certain actions make users eligible for the stimulus. This is also still under research and we all work on economic models to see what is best for the community and our monetary system!

3. We also have the standard affair of time tested benefits such as governance.

Question 2: What is the value and usefulness of the REBASE token in the ReBASE? What opportunities do token holders have in the short and long term?

Answer: The REBASE token is needed for access to the financial products on our roadmap. Our farm requires REBASE token, for example. The bonds that the farm is to create all require REBASE tokens – which are locked inside of liquidity pool contracts making REBASE more and more scarce.

REBASE is a model for a whole new financial system.

Question 3: On liquidity, what measures have you put in place to attract and sustain liquidity providers as interest rates are quite competitive among available DeFi projects?

Answer: In the first version of our farm we pay liquidity providers from a growth pool! Our commitment to the growth pool is what keeps the rates competitive. Yield farmers earn based on how many other yield farmers show up, if you are first you earn the highest rate for the time!

Question 4: REB is operating on ERC20 contract for distribution but The Ethereum blockchain is having some problems with its transaction speed and high gas fee, why does REB use Ethereum?

Answer:

⚠️$REB (Rebased) is not $REBASE (Rebase) 🚨 Please notice the difference! We launched our project before $REB and they are a different project with their own issues.

Regarding Ethereum we are looking at layer-2 technologies to make it easier for people to use and adopt our token. In the future we can consider some cross chain capabilities.

Question 5: In my opinion, the current project seems to be undervalued in terms of price. What do you think and what are the countermeasures?

Answer: The countermeasures are built into our products!

When our farm starts incentivizing liquidity, yield farmers will have to buy our token and lock our token. When our stimulus and staking programs begin, people will have to hold our token to benefit.

Right now, these features are not yet out, and some crypto traders sell tokens they bought very soon after they bought them, but we are happy to announce that several parts of our roadmap are becoming ready at the same time! Follow our announcement channel to keep up! https://t.me/rebaseofficial

Question 6: As a community driven project and me a developer am interested in contributing to the project, do you have such programs?

Answer: We encourage community and especially developer participation! We have active development and testing on the Ethereum Ropsten test network and also accept pull requests on our github https://github.com/rebasecapital

It depends on your skillsets and we absolutely want great talent!

Question 7: Where can I buy REB∆SE and what will its initial price be? Will there be several rounds of sales of this token? Also, are there plans to list it on UNISWAP and later in some CEX or DEX?

Answer: $REBASE is listed on Uniswap and Biki.com, you can buy it now! The “rebasing” and “farm” is not yet launched and will soon. It is already on Coingecko.com and you can track its price

Question 8: For any blockchain token to be truly successful it must have real utility. So, what are the uses and functions of ReBASE token, what roles will it play in ReBASE Ecosystem?

Answer: The REBASE token is needed for access to the financial products on our roadmap. Our farm requires REBASE token, for example. The bonds that the farm is to create all require REBASE tokens – which are locked inside of liquidity pool contracts making REBASE more and more scarce.

REBASE is a model for a whole new financial system.

Question 9: Do you think the Rebase system is safe enough from hackers? Do you have any Bug bounty programs that rewards individual vulnerability detection of the system at the moment?

Answer: We welcome developers to join us on the Ropsten testnet and on Github! From our growth pool we are willing to pay developers, in the future the community will! We have a very ambitious roadmap and we do a lot of testing, we have seen many teams rush out products and have serious errors! We make sure we have the right features done professionally.

Question 10: Where does the project name come from? What does it mean for you and why did you choose that name for your project?

Answer:

The name refers to the change in the supply called “rebasing”.

We saw many elastic supply tokens have trouble explaining what they do, and it was clear there was a missed opportunity to simplify the concepts.

REBASE has rebasing

REBASE has a farm, for yield farming.

Simpler!

Question 11: what is the actual uniqueness of your Project ? what do you think that what quality will give it a good stand to this project in the market?

Answer: Our FARM has “liquidity locking” and is supposed to create bonds that people can trade. This is pretty unique. We also have the stimulus programs, which I have not seen in a token before, especially an elastic supply token!

Question 12: How often will the supply overflow occur? Will it be every certain time or when the token reaches a certain price? Will it be bidirectional? That is, can the supply be increased or decreased?

Answer: the rebasing will be occuring once per day! yes, the supply can increase or decrease depending on the price.

Question 13: I am a full time FARMER and only interested in Yield Farming, what are the prospects available for me in your project

Answer: there will be plenty of opportunities for yield farming once our farms launch! the first farmers always earn the highest APY or yield!

Question 14: What new and most important information does reB∆SE want the community to know at this AMA?

Answer: I want the community to know that our first farm is launching soon! We are rapidly testing on testnet so that the final touches are made to meet our roadmap goals!

Question 15: On moving forward through your roadmap, what are your most important next priorities/Milestone? Does REBASE team have enough fundamental (Funds, Community, ect) to achieve those milestones?

Answer: 

yes, the most important milestones are:

launching f∆RM version 1!

enabling the daily rebasing!

building communities around the daily rebasing!

launching f∆RM version 2 with governance and liquidity locking!

enabling the stimulus!

building communities around the daily stimulus!

yes we have the funds and talent to build and release all of this!

Question 16: Why did you choose to list Rebase on the first CEX exchange Biki instead of Binance or Houbi? What are the benefits and advantages that Biki brings to Rebase?

Answer: REBASE is the first elastic supply token on Biki and we had an opportunity to help them implement it and also give us a benefit of having proper “price discovery” to help with our algorithm! The correct implementation of “rebasing” involves pricing from real exchanges and not just AMM systems like Uniswap.

Question 17: How you prevent the speculation of the prices between rebased ? How you Incentive a good behavior of the users?

Answer: Speculators can always try to trade around rebasing, they are an important part of a financial ecosystem and how the world works.

Question 18: There exist benefits or prizes for provide Liquidity into the Uniswap Rebase pair? Which ones?

Answer: Liquidity Providers will be earning tokens from the farm! They will also be able to earn the stimulus because the liquidity pool might earn it any particular day! They also earn the fees from the liquidity pool when other traders use it.

Question 19: The greatest threats to DeFi is that of Security, so can you explain how secure your are, do I need KYC to enjoy all the awesome features?

Answer: You do not need KYC to enjoy our features, we deploy permissionless autonomous products. Any amount can be purchased, staked, and earned and this is out of our control!

Question 20: Trust and Security are the most important things in cryptocurrency. Why do we feel safe with REB∆SE ? The recently released Defi dForce protocol has been hacked for 25 million dollars. Do you have any tips to avoid these situations in the future?
https://decrypt.co/26033/dforce-lendfme-defi-hack-25m

Answer: We have a very competent team and we spend a lot more time than many other projects on security and testing! We don’t just come out of nowhere and launch overnight, we have real roadmaps, and updates and audits along the way to ensure that our products are launched professionally and securely!