CryptoCurrent AMA Transcript

BSC.NEWS hosts Cryptocurrent, a launchpad aimed to legitimatize new projects and protect investors. All Questions answered by Stephen Clark (VLT) (@zigmund_fraud)

By
Kamran Iqbal
on
March 23, 2021
Category:
AMA

KDOT (AMA Host): AMA starting with CryptoCurrent. Can I check @zigmund_fraud is here?

Stephen Clark (VLT): I am indeed, how are you?

KDOT (AMA Host): Hey man :) thanks for coming on today, appreciate you putting some time aside!

Stephen Clark (VLT): Of course, thanks for having me.

KDOT (AMA Host): amazing :) You ready to rock the boat?

Stephen Clark (VLT): That's what we came to do, I suppose!

KDOT (AMA Host): Perfect, Lets hit it! 


Q1: Let’s kick off with an introduction of you and your team, what are your past experiences in crypto?


Stephen Clark (VLT): Our dev, Mihir has been involved in a few projects but has mostly stuck to the academic side of things since he is still a student. We were REALLY fortunate to find him. He's as talented as they come but will never admit it. As far as Marc and I are concerned (co-founders) Marc was the more experienced of the two of us in Defi. I've been around crypto since probably 2011, but never got very involved. I've been around since the days of mt gox for anyone that remembers that. That said We're both not what you'd generally expect the Co-founders of a project like this to be. Very much outsiders to Defi in that respect.

KDOT (AMA Host): ah amazing :) ah ok! perfect thanks for that :D

Q2: Noticed that there is a rebranding soon, maybe you can shed some light on this? what is the reason for rebranding?


Stephen Clark (VLT): Sure. We actually just finished rebranding to Cryptocurrent. Originally we were hedge tech when we started. The project started so quickly that we were unaware there was another company with the same name. We would have rebranded pretty much immediately but we thought it would be confusing to do while launching our tokens and then rolling out our launch pad. We did keep the hedgehog logo though.

KDOT (AMA Host): ah makes sense.


Q3: Give us an overview of what CryptoCurrent is about? What inspired the launch of this project among the team?


Stephen Clark (VLT): So Cryptocurrent started because Marc was rugged.

KDOT (AMA Host): oh wow! sorry to hear that. I've been there, not nice.

Stephen Clark (VLT): I'd mentioned to him in conversations we had probably in January about how many projects I'd seen without anything in their GitHub and so on. I joked about starting one. He called me at the end of January and was both kind of upset but excited at the same time. He explained how the project was supposed to work which was just some variation on a tax based token that redistributed to members in some fashion. We talked about how to improve something like that and make it virtually unruggable. We came up with the Vault and launched very quickly after that. After realizing how solid the concept was we were pretty confident that this was going to be a good project, despite having zero experience with anything we were getting ourselves into.

KDOT (AMA Host): ah, i like perseverance!

So the project is a launchpad with a locker?

Stephen Clark (VLT): Yes and no. Our project began with VLT. It was a standalone token when we launched - the rising price floor and deflationary aspect make it very solid. "Trust Launch" was something we came up with after that and we have incorporated The Vault concept and our tokens into it.I do like to differentiate because many projects involving launch pads or other services have a token that was developed only to function as a part of the service. Our tokens just happened to get added bonuses when we decided to pursue the launch pad.

KDOT (AMA Host): Amazing!! Thank you :) Ok let's talk alittle security

Stephen Clark (VLT): Sure thing


Q4: CryptoCurrent is tackling the biggest problems that investors face in Defi by creating a Vault that provides a floor price for a token that keeps funds SAFE even if liquidity is drained. This is interesting, how can the funds be kept safe?


Stephen Clark (VLT): Good question. A lot of people miss this when they look into the VLT token. The vault is a swap contract. 3% of every VLT  transaction is converted to BNB and then sent to the vault. The nature of the contract is this - there is literally no way for us to withdraw anything that is sent to that address. The contract has one function in that sense, if you send VLT to the vault The Vault will automatically return a proportional amount of BNB to you. After sending VLT to the vault it is taken out of circulation and can never leave the vault effectively burning it. This means that each token's share of the Vault can only increase because the circulating supply can only decrease. Started at 100k circulating. So the only way to actually drain the Vault would be to send all the VLT in existence to it.

KDOT (AMA Host): oh wow! I really like this concept.

Stephen Clark (VLT): Yeah, we were really excited as we were discussing all of the implications before launch.


Q5: What are the short term development and ongoing plans currently?


Stephen Clark (VLT): This evening we will be announcing our upcoming staking function for our tokens. & Our Launchpad is being completely overhauled by our newest developer and I am extremely happy with it so far. We will be integrating other chains and we'll have some big announcements at the end of the month, which will be a pretty bold project.

KDOT (AMA Host): oh amazing! Little leak ;) I like that hehe!


Q6: what are the criterias for investors to take part in the IDO that will be launched on CryptoCurrent?


Stephen Clark (VLT): Anyone can take part. VLT holders of 50 or more tokens are given a 30 minute early access period though before we open up for everyone. Judging by this last launch it is going to be a good thing to have.

KDOT (AMA Host): Ah big benefit for holders, as we know getting early access is a must in the bullrun times :D

Stephen Clark (VLT): Just checked. We reached our hard cap. Launchpad price was 0.025, we launched our most recent project this morning and the token is going for 0.049 USD. I'm guessing they're probably some people that would have liked to have gotten in during that half hour.


Q7: What DD do you carry out on projects before onboarding them? (ie Audit etc)


Stephen Clark (VLT): We personally kyc the entire team. The contract is audited by a third party auditor and audited again by our developers. We handle the collection of funds. We look at all info given to us and anything that comes up in the process. If we determine that the project it's viable we will reach back out to proceed. So to clarify aside from just the initial requirements we proceed with the launch in stages.

KDOT (AMA Host): ah wow, very indepth DD! I really like that!!!


Q8: There are two tokens mentioned $VLT and $HTG, what are their use case of HTG?


Stephen Clark (VLT): HTG is our governance token. The benefit to holding the token is that 45% of the proceeds from our launch pad and any future entities are distributed to Holders of HTG that have 1.5% or more of circulating supply. 5% goes to the vault.

KDOT (AMA Host): amazing!

Stephen Clark (VLT): So to answer directly it is a governance token but we have given some value to it as well.

KDOT (AMA Host): yes, perfect!


Q9: Do you have a roadmap or long term development  plan that you can let our audience know.


Stephen Clark (VLT): Sure. Our current roadmap is up on our site https://thecurrent.io - it details the road map for this month. We will be putting an updated road map as the end of the month approaches. The long-term is difficult to release for the time being because there are still pending announcements.

KDOT (AMA Host): Perfect! appreciate the info! :)


Q10: Lastly the famous question, do you have any alpha or juicy news for us, besides what we have discussed?


Stephen Clark (VLT): I will say this - anyone interested in the project should be sure to join 

https://t.me/CryptocurrentLLC

The staking announcement tonight is not one to miss.

KDOT (AMA Host): hehe that was my next Q


Q11: Share with us the links of your social media/document etc, so that we can find out more about the project.


Stephen Clark (VLT): Alright, well there's the TG. 😂 Our main website is https://thecurrent.io 

The launchpad is https://trustlaun.ch

Twitter: https://twitter.com/__Cryptocurrent?s=20

Medium: https://thecryptocurrent.medium.com/

KDOT (AMA Host): Perfect! It's been wonderful to have you on today! We will have the transcript up on our site very soon for anyone that missed it.

Stephen Clark (VLT): Great, thanks again for having us!

KDOT (AMA Host): Perfect, Thank you again!


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