Absorber AMA Transcript

BSC.NEWS hosts Absorber, a decentralized deflationary yield farming protocol. All questions answered by Blockchain World (@BitBlockchain)

By
Kamran Iqbal
on
March 6, 2021
Category:
AMA

Crypto Shrimp (AMA Host): On behalf of BSC News, its my pleasure to host the AMA for Absorber Finance team. @BitBlockchain, just to be sure it will be just you attending the AMA ?


Blockchain World: Yes Shrimp, only with me it's fine for now


Q1 Lets start with an introduction of the team and also whats their past experiences?


Blockchain World: The Absorber Protocol have a very unique start, the core team are left in the dust, it's a community takeover protocol, that got revived recently with the new migration, long story short, i use to be a normal trader on the old erc20 token, i got handed the keys one day since the core member Connor could not keep going on with the project because of personal needs.


Crypto Shrimp (AMA Host): thats a great deal to take over a project like this


Blockchain World,: Myself i'm a personal trader and crypto entushiast since 2017, one of the Oldest admins of Fat Pig Signals Group, one of the only few legit signals groups that survived through the years and become a success. Actually you can see a NFT of my own persona in the rarible website https://app.rarible.com/token/0x440f36dba0cc626a71af47a83d85846246ba3fb2:14:0xbce51ae3756aad4b85e9029386f4614ab593e84f

Check us out on Telegram: https://t.me/fatpigsignalstrollbox

I've been involved throughout the years with several personalities form the Crypto space Like Roger Ver, Ron Paul (which needs no introduction for most americans) Jeff Berwick, Jobby Weeks (personal friend). Because of the way it all started i am not ready to become a public personality as of now, since that brings lots of burden with pros and cons, building a public wanna be team as we speak, like a normal company would do, yet we are not a company, but need to function in such a fashion in mixture with the DeFi space and community decision taking, in order to prevent a short term drainage of the project


Q2 thats an interesting start, do tell us more about absorber finance and when did the project launch?


Blockchain World: https://bscscan.com/tx/0x0cb5056c858a2c0356c0ed38e1612feb0c4f8afe45302d2c533c98549bb76ac4 After careful investigation about the BSC space, and the flaws of Ethereum that had the project on the knees (aka gas fees) i took the decision to move on and this is the proof of the first major Action of Migration. The First Absorber Launch done by the old Core team, have been launched over 79 Days ago as stated here https://etherscan.io/tx/0x6c2e42a08295f8673ad2c2b4256d8f900274b0368023eebbae62e17c0e3fef03

Since past actions lead to present situation, through experience and observation of pros and cons of the original Passive Yield Farming concept of the Ethereum Absorber, i launched the New Absorber with a dynamic Hybrid Mechanism, mixing a classic Active Yield Farming with a Self Sustainable Long term Passive Yield Farming function, creating a harmonic in the protocol

All of this as obvious is visible to read by everyone within the smartcode


Q3 that brings me to whats the use case of $ABS?


Blockchain World: Absorber is a Financial Instrument aiming for mom n pop investors worldwide as a means of generating Passive Income in hardship situations like the ones caused by the Covid, we aim to be a Global Financial Bank, with the top notch usability and friendly interfaces in all the languages and currencies possible


Q4 what about the tokenomics of $ABS? is it unlimited supply or its deflationary?


Blockchain World: Max supply is 1,000,000 tokens, it will never be minted more than that, it's deflationary with a speed of 1% annually (approximately) We expect in 25 years to have the max supply around 750,000 ABS


Q5 How safe is the absorber protocol? any audits done etc?


Blockchain World:  On 16th March Certik will finish Auditing our code, we believe the code is very safe, we passed through manual checks by many devs and public scrutiny over time, and hence our code is simple without additional files.

https://certik.org/projects/absorber


Crypto Shrimp (AMA Host): nice i think alot of public trust is build from having a certik audit nowadays, will that be a full audit or a light one?


Blockchain World: Full audit


Q6 So how is absorber able to pay for this audit, or how does the project makes money ? we have seen some project do presales, just to fund the audit and etc.. this is a common question that most will ask


Blockchain World: Absorber Protocol Works with Hybrid Mechanism, which the PYF function generatea wealth to any wallet included in the ecosystem gasless through time. Ethereum version Did a bad job in maintenance of funds and because of what seemed to be public hunger of moons and lambos they burned too many tokens too fast, we wont do that error. We have enough funds for development for the next 10 years considering the mechanics, and all development will be done with the least expense in mind, considering quality results for the money paid


Q7 what are the marketing strategy that are in place or upcoming?


Blockchain World: We are focusing on premium Listings across Digital Mediums like Opera.com which have over 350 million users monthly, and other BSC platform like Price bots, we do not agree to pay shillers, since we preffer to do things in a more realistic and healthy approach


Crypto Shrimp (AMA Host): nothing is more sustainable than organic growth in supporters and also the project quality itself


Blockchain World: We are looking to gift phisical goods like shirt, hoodies to Absorber Holders and ship them world-wide, this being only one of our marketing ideas


Q8 how can another project establish a partnership with Absorber ? do they stake on your platform? any plans like this ongoing?


Blockchain World: Yes but as a personal mouth taste i consider that to be a complex scam between projects pumping price without much fundamental in itself, anyone can do that and i suggest people to dive deeperer and see beyond the courtain of smoke, it became famous this kind of partnership promotions, we got invited in dozens of them, we are considering some that will have a positive stable impact for the long run, but as for generally speaking not a good concept how they are used lately in the crypto space


Crypto Shrimp (AMA Host): so are you saying you are not a fan of  collaboration between projects?


Blockchain World:  We received tons of suggestions as to add several functions like rewards for pair that doesnt benefit the ABS protocol, like BTC - BNB pair with ABS rewards


Crypto Shrimp (AMA Host): or what kind of collaboration will interest you more? do give us some concept that you have


Blockchain World: Not as its used lately, i believe in strong fundamental parnership that really have a reason to be done and not only be used for fashion like. For example a kind of partnership with a project that can mix its ecosystem functions with our, in such a way that using both become a smarter and more complex ecosystem, like a collaboration with a healthy lending protocol, or a insurance protocol. Not just add our tokens their tokens and we are partners, i dont believe in that, makes sense?


Crypto Shrimp (AMA Host): i see so collaboration with a purpose, to make the project grow in its ecosystem,  is that what you mean ?


Blockchain World: Exactly, with a purpose, not just for fashion or trend, not to artifically give more value to the project inspiring false hope on the investors, most of these projects will fail in my personal view in the next 3 to 5 years as a kind like dead time target


Crypto Shrimp (AMA Host): i see, sometimes this 'fashion trean' i feel is to please the investors who have also invested in other projects and would like to have more ways of earning the tokens. but i guess we all work towards the same goal of pleasing the investors with ways that we feel is beneficial to them


Blockchain World: Crypto space is packed with scammers, who will fare through the next bear cycle and the washout of projects and new regulations incoming, keeping the head above water and focusing their resources on what really matter will thrive and become the next big thing, its not magic, its mathematics and business science


Q9 will there be this kind of collaboration for absorber with others?


Blockchain World: I agree with that, thats why we often have community Polls where all the community member have 1 person 1 vote power, not based on the ABS holding but the person itself, to vote for certain development or decisions that will change the road


Crypto Shrimp (AMA Host): thats listening to the community at its best!


Blockchain World: Yes there will definitely be, well selected ones


Q10  besides what we have discuss, are there anymore upcoming development that are in progress?


Blockchain World: We are rebuilding the website, the user interface, we are building the whitepaper, tokenomics (since there still migration ongoing from ethereum to bsc) We will create new exciting pools and we pay a very close attention to the autofarm vaults, we are interested to integrate that intelligence in our project, a composite lp rewards


Crypto Shrimp (AMA Host): a familiar project that i helped managed last time 🙂


Blockchain World: As the timeline being, eventually we aim to have meetings across the world to educate people of all responsible ages (above 18) about Absorber its benefits and risks as a financial tool You do definitely are a high quality crypto member, my respect for that


Crypto Shrimp (AMA Host): thanks for the kind words!


Q11 Do you have a roadmap for the audience today and which are the development that you feel will be a game changer for absorber


Blockchain World: Exact timeline roadmap no, all this is written as of now, there was no previous preparation for myself for this AMA besides meditation and clearing my mind a bit


Crypto Shrimp (AMA Host): lets go with whats on your mind for the future development of absorber, i also respect that you came to this AMA without knowing what im going to ask of you too!


Blockchain World: What i can say as of above and to complete further, is that between a mixture of team growth, hiring members with tons of experience in their particular neccessarry field, with attention to detail and passion, together with the further construction of all it takes for the protocol, gitbook, website, coding, servers, accessibility, presence over all the space, personal ABS app is within our sight as well, with multiple languages option, and development of local communities, keeping the English Global community as the main one, and the rest as Turk community (which is already public) and Latino (coming soon) as well as others, focusing on that vision i mentioned before, to make this almost like a Multi Level Marketing worldwide, but not as a ponzi schemes as MM usually are, with the proof of our code and the mathematical concept of it


Crypto Shrimp (AMA Host): thanks


Q12 Can you provide us with links to absorber social media/medium etc, if we want to know more about the project?


Blockchain World: Everyone is warmly welcomed to our Telegram channel @absorberprotocol


Crypto Shrimp (AMA Host): what about your twitter and any medium articles ?


Blockchain World: 

Official Links:

▪️Website: https://absorber.finance/

▪️Coingecko: https://www.coingecko.com/en/coins/absorber

▪️Telegram: https://t.me/AbsorberProtocol

▪️Discord: https://discord.gg/MK4s9vDGEY

▪️Twitter: https://twitter.com/DeFi_Absorber

▪️Medium: https://absorberprotocol.medium.com/

▪️Our Price Bot @BinanceRocketABS

▪️Our Price Talk Group @Absorber_price


Crypto Shrimp (AMA Host):  great stuff!


Q13 lastly to finish this part of the AMA, do you have any juicy news that you can tell us which you have not covered so far?


Blockchain World: Yes, we know how important is the safety of your investment, real traders and investors understand the potential up n down prices, but they always fear the potential loss of their capital, not neccessarrily of the price movement itself, but of the hacking factor, code flaws, etc, because of this very reason we have a very serious take on Audits, and we are ready to be audited by any famous or responsible ethical organization and ready to pay for it no questions asked. Also we are focusing to offer a floor price to every ABS holder, incentivizing the hold and punishing the sell with our math mechanism which taxes a 2% on sell that automatically gets added back to liquidity by the smart contract and its un-removable, guaranteeing even in the case of a sell by 99% of the token holders, a non zero price


Crypto Shrimp (AMA Host): Thank you @BitBlockchain for your time. I hope with this AMA, the audience learnt more about absorber and also thank you so much for answering all the questions and educating us at the same time!


Blockchain World: We are building as we speak a massive influence in the latino segment of crypto and non crypto, with heavy investment in platforms like Facebook, Instagram, Tiktok etc, this will not only bring non crypto users to Absorber but also initiate more users to the crypto world


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