CafeSwap AMA Transcript

BSC.NEWS hosts CafeSwap - A yield Farming and Staking Platform. All questions answered by @Chef

By
BSCNews
on
April 12, 2021
Category:
AMA

Lola (AMA HOST): We welcome everyone to today's AMA. Most especially our Visitor @CafeSwapChef

Chef: Thanks for inviting me to this awesome BSC community.

Lola (AMA HOST): You're welcome. So shall we begin?

Chef: Yes 👍

Q1. Can we get to know more about you and your team? What are your roles and past experiences?


Chef: Talking about the core team, We are a team of 7 members including me, I am one of the co founder's of cafeswap, The team is working in crypto field from almost 4 years now. Talking about my personal experience I am a computer science engineer and have been working in crypto since 2017.

The CafeSwap core team members include:

Breve – CEO

Caffeine- CMO

Chef - Team lead

Ajust - Partnerships manager

Mocha- Frontend developer

Lord- Solidity Engineer

Ace- Community Manager.

Lola (AMA HOST): Since 2017, that's about 4 years ago. I believe you really took your time to learn ever since then. Great. Such a Team working together.. 😊

Chef: Yeah its 1+ years I am in development field and have a experience of 3+ years, I also worked with OKEX in past during my crypto journey. 

Lola (AMA HOST): That's good to hear. Not just a day dream.


Q2. Can you tell the Community what makes your Project different from others?


Chef: This is a highly demanded question I can say,

CafeSwap was never meant to blend in with the rest of the yield farming protocols out there. Unlike others, we have our DEX, so CafeSwap doesn’t rely on the Pancake route. This trickles down to flexibility in fee distribution and a better $BREW buyback arrangement.

Besides incentivizing liquidity providing, users can take advantage of the multiple smart vaults to get greater yield for their LPs, thanks to the compounding prowess of the vaults. 

To summarize we want to become a completely independent product to serve the needs of DeFi as a whole including DEX, Yield Farming, IDO Launchpad, Yield optimization, NFTs and more.

We have started our journey as a yield farming platform but we are working on fulfilling the roadmap with standalone products and innovation. 

Lola (AMA HOST): Wow! This is really outstanding.


Q3. In the medium article you talked about creating pools/farms for $NAUT and $BREW holders. Can you tell us when this would take place?


Chef: First of all i would like to give a quick introduction about our partner Astronaut,

Astronaut is a auto yield farming and IDO platform on BSC.

The NAUT-BNB yield farming pools that reward stakers in $BREW are already in place. 

To ensure $BREW holders aren’t left out, we added a staking pool that allows them to stake $BREW to earn $NAUT. 

Btw the staking pool still has a juicy APR to rely on. 

Lola (AMA HOST): Okay.


Q4. Is there any Significant Difference between the two lotteries $BREW and $BUSD? Can you explain to the Community?


Chef: The $BUSD lottery was a experiment of Cafeswap to reward users in BUSD also to get a buyback and burn feature for $BREW,

Both operate in the same manner, but the asset used to buy lottery tickets differs.

However, we abandoned the BUSD lottery as it didn’t get the traction we expected.

Also, there might be similarities between the $BREW lottery on CafeSwap to what’s obtainable on some other DEX, but we tweaked ours to ensure participants have a higher chance of winning. 

Lola (AMA HOST): Oh! That's quite impressive. Having Participants in mind.

Q5. There are multitudes of yield farming platforms on different chains including BSC. Could you please tell us more about what makes CafeSwap stand out from the competition? What incentives are there for users when they join?


Chef: As answered in previous question about differences,

I would like to add,Cafeswap has a potential reward system at place, Which dont offer higher yield to user but we aim to give sustainable yields to users,

We are also adding some unique mechanism to the platform in upcoming days which will make BREW more scarce, We already have a soft cap of 100M for our BREW token and we would like convert it into hardcap soon.

We are trying to incentivize each and every product of cafeswap, we already have yield farming rewards beside that we will distribute rewards to users staking in Autocompounding vaults through unique dual farming strategy.


Q6. How has been your experience Partnering with Astronauts? What does it contribute to your Project?


Chef: The partnership with Astronaut has been amazing. New liquidity and staking pools were added, creating a viable use case for $BREW and $NAUT. 

This partnership with Astronaut budded well for CafeSwap as our DEX trading volume increased significantly. Also, the total value locked surged thanks to this partnership.

To foster the growth of both parties, further collaborations with Astronaut are in the works and will take place soon.

Lola (AMA HOST): Wow! And how did you find out about them? 

Chef: Astronaut was a first IAO launch of our another partner Apeswap,

Which outperformed and has shown a pretty good growth. 

Lola (AMA HOST): Oh! Great.

Chef: Hence we came to know about them and decided to do a partnership to present something unique on BSC and we are working on it.


Q7. Is there any plan for Auditing? Or Has it been audited? And can you share with us the report?


Chef: We are giving security maximum priority, and audits have a massive role to play in this. The farming contract is Certik Skynet enabled as all contracts and social sentiments are monitored closely. Both the farming and staking contracts security audits are currently under review by Certik a reputable auditing firm, and the report will be available in a week or two. 

Before our new DEX went into full swing, a DEX audit was carried out by HashEx, another credible auditing firm. The report is accessible to anyone through this link: https://docs.cafeswap.finance/cafeswap-audit-reports/dex-audit

Bugs, hacks, or exploits have negligible place at CafeSwap as all contracts are audited. We are always one step ahead. 


Q8. What's the Future Plannings or goals for the development of CafeSwap?


Chef: CafeSwap leads the pack in development and innovation. We have a roadmap loaded with interesting additions to the current ecosystem, and we intend to actualize every one of them as quickly as possible, without compromising on the security architecture of the platform. 

While others dilly-dally on audits due to the significant fees attached, we intend to grow and audit CafeSwap contracts as often as required, no expense spared. 

We have come a long way as indicated by the number of products developed. Some of these products include:

- DEX

- Analytics.

- Farms & Staking

- Smart Vaults

- Lottery

We have many more products in the works. One of these is dual farming. Here, 50% of the $MOCHA supply will be disbursed to the $BREW vaults, incentivizing the CafeSwap vaults. 30% of the rare token will be distributed to other farming vaults such as Pancakeswap, Apeswap, Belt, and Venus; 20% of MOCHA emission will be distributed to $BREW and $MOCHA stakers. Dual farming is poised to be distinct, giving CafeSwap better flexibility when it’s in full throttle. There’s also the IDO launchpad that gets budding projects the support they need. Of course, $BREW stakers and holders will get whitelisting advantage. The user interface will get a facelift making it more user-friendly and outstanding. Our designers currently have their hands full as they try to deliver an app-like user interface. Finally, CafeSwap will be delving into the colorful world of NFTs, making them widely adaptable in the real world. 

Lola (AMA HOST): This is nice. Can you share the roadmap links or shot? 

Chef: Of course,

Roadmap => https://docs.cafeswap.finance/roadmap/roadmap-2021 Lola (AMA HOST) Okay. Thank you.😊


Q9. Can you tell us about the $MOCHA token?


Chef: $MOCHA is the second token of the CafeSwap ecosystem. Unlike its sibling, $BREW, there’s only a total supply of 500,000 $MOCHA, and this will be distributed to smart vault users in a 3 – 4 year timeline. About 50% of $MOCHA supply will be distributed to $BREW vaults, which will incentivize the CafeSwap vaults. 30% of the rare token will be distributed to other farming vaults such as Pancakeswap,Bakeryswap, Apeswap, Belt, and Venus; 10% of MOCHA emission will be distributed to $BREW and $MOCHA stakers and 10% will be distributed through NFT staking. $MOCHA is a special token, and it will play an integral role in the IDOs organized on CafeZone, CafeSwap’s launchpad platform.

Q10. Share with us all the links about CafeSwap, so that readers can find out more and also follow the development of the project.


Chef: Here are all the links.

Telegram => https://t.me/CafeSwap

Twitter => https://twitter.com/cafeswapfinance

Docs => https://docs.cafeswap.finance

Medium Blog => https://cafeswap.medium.com

Certik Skynet => https://certik.org/projects/cafeswap

Hashex Audit => https://docs.cafeswap.finance/cafeswap-audit-reports/dex-audit

Dex => https://dex.cafeswap.finance/

SmartVaults => https://smartvaults.cafeswap.finance/

Farms => https://app.cafeswap.finance/farms

Cafepools => https://app.cafeswap.finance/pools

Lottery => https://app.cafeswap.finance/lottery

Analytics => https://info.cafeswap.finance/tokens

Apply for Partnership => https://forms.gle/zA6BmeuFux3XLV6Q8

Lola (AMA HOST): All right. 👍


Q11. Lastly our favourite question, do you have any alpha or juicy news for us in BSC News today?


Chef: Of course, we have some juicy news to share with bsc.news. 

Though we highlighted certain details of the Mocha token such as its supply, use case, and distribution path, we intentionally left something out. 

CafeSwap had a $MOCHA airdrop running. A total of 2000 MOCHA tokens will be distributed to loyal brewers. And it’s quite valuable. Of course, those interested in getting this rare token have to meet certain simple conditions.

https://cafeswap.medium.com/mocha-token-community-airdrop-splash-8971e6dbbfb4

Also I would insist to grab BREW as it will become a rare assets soon, The upcoming feature and udate to current system will bring a change to cafeswap.

Also you would need BREW to take part in IDO.

Lola (AMA HOST): Thank you Chef. We're glad to have you here. 

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