JetFuel AMA Transcript

BSC.NEWS hosts JetFuel, a Fair-Launch Deflationary Yield Farming Ecosystem that combines features from the most successful DeFi projects on Binance Smart Chain (BSC).

KDOT (AMA Host): Right! Firstly, thank you everyone for joining and also sending your questions in. We really appreciate it!

Secondly, we're grateful for having the JetFuel Team & it's representative MIRO attending the AMA today!

This is our second AMA with Jetfuel and we're happy to be back.

All questions were answered by MIRO (@jetfuelmiro).

Q1: How many people are a part of the JetFuel Team?

MIRO: Great question! Our team has grown rapidly since we started. We currently have 17 people on our team between project management, development, and community moderation.

Flight Commander Miro - Leader
Lead Developer overseeing all technical developments of Jetfuel and Fortress
1 Front End Project Manager
2 Front End Developers
1 Designer
2 Solidity Developers
5 Community Managers for the Main Telegram
2 Mods for Jetfuel Spanish Telegram
1 Mod for Jetfuel Sri-Lankan Telegram
1 Mod for Jetfuel Turkish Telegram

KDOT (AMA Host): Amazing, wow! I actually didn't know you had so much people part of the team. Nice to see it growing.

Q2: What are the short term goals for JetFuel?

MIRO: DeFi moves quickly and BSC seems to be moving faster. We know that you have to move fast or you'll get left behind. That being said, we have a number projects we're developing and goals we intend to hit.

Our first goal is $20Million TVL on Jetfuel. We're currently at about $7m between Fuel farming, Staking, and Vaults.

50 Vaults - we have 21 audited vaults now using Jetfuel and Pancake strategies. We'll soon be rolling out more Cake vaults, Traphouse Vaults, Venus vaults, and we're in discussions with a number of projects to build more vaults.

Fortress Lending is soon ready for testing on both ETH and BSC. Fortress is a Venus/Compound lending fork. We think we'll be ready for Fortress in about a  month.

Jetfuel Launchpad is also undergoing more development. We had our first Launchpad partner with Vapor last week. They launched and we provided them with a FUEL farming pair, a vault, and now JETS staking for Vapor is live. Our goal is to host 2 new token sales through the launchpad in the next month.

And of course, GFORCE!

KDOT (AMA Host): Amazing, nice to hear that you're busy behind the scene.
So that leads on to...

Q3: What are your long term goals?

MIRO: We're in it for the long term. Our long term goals are:

-150 vaults using as many strategies as possible and a vault TVL of $50 million
-Fortress lending TVL $500 million between both ETH and BSC
-Cross chain vaults with automatic profit transfer back to BSC and JETS holders (we're working on this now)
-Jetswap AMM

and become the go-to launchpad for new projects and token sales.

KDOT (AMA Host): Wow, that is great!
Before we move on to anymore main questions, I have a couple of side questions I'd like to ask, while we are here.

Side Q: Regarding vaults, could you explain the process from and to launch of each vault, just so the community understand the work that goes into it (as we always see 'WEN')

MIRO: 'wen' 'wen' 'wen'  (Haha)...

Sure, we look at every project and analyze their smart contracts, community, and TVL potential. We want to make sure that we spend our time building vaults that have at least $500,000 TVL (or the prospect of getting there quickly), a good APY for the user, and an active and happy community.

KDOT (AMA Host): Perfect. back to the main questions (as you answered both my side questions in there, lol)

Q4: What are the advantages and differences between Jetfuel & other similar Yield Optimizers?

MIRO: Jetfuel is more than a yield optimizer. We're a yield farm, yield optimizer, staking, governance, lending, launchpad, and decentralized swap. Essentially, we're looking forward to becoming a 1 stop shop for DeFi users.
Our focus is on building tremendous value for FUEL and JETS holders by ensuring that in the long run, holders will be happy and our ecosystem can continue it's rapid growth.
Our vaults are have very low fees to allow users to quickly build their deposits. 4% of every harvest is used to market buy fuel and it's sent to JETS holders. This means that every project we support will allow JETS users to earn as that project we support grows.
We're also looking to aggressively expand our Launchpad for new token sales, projects, or project  developments.

KDOT (AMA Host): Great! I like the one-stop shop approach, something myself & @Kcrypto_BSC discussed on a recent podcast, so good to hear.

Q5: What is upcoming for Jetfuel? (I know you've mentioned above mostly already, but could you give timeframes?)

MIRO: Sure! Here's some rough timelines

-50 Vaults in the short term (less than a month)
-Fortress Lending on BSC & ETH (4-6 weeks)
-Jetswap - an innovative AMM (8 weeks)
-Jetfuel vaults on ethereum using bridges to automatically transfer the profits back to JETS holders. (4-6 weeks)
-Jetfuel Launchpad (2 weeks)
-JETS Governance (4-6 weeks)
-Jetfuel Development and Accelerator Fund. (4-6 weeks)
-DeFi Mutual Funds (2-4 weeks)

KDOT (AMA Host): Impressive!

Side Q: You missed Gforce?

MIRO: GFORCE - less than 2 weeks
Sorry, we have so much going on.

KDOT (AMA Host): Haha! That's cool.

Q6: How do you plan on grabbing more market share of projects coming over to BSC to be apart of the launchpad so it benefits JET Holders?

: The most popular fund raising system on BSC right now is the IFO model. Users submit LP tokens and half of the raise is burned and the project receives half the raise (maybe less depending on the hosting platform) and provides a significant amount of tokens for staking. In our eyes, the project raising the funds is left at a disadvantage because over half of their raise is burned!

We're working on developing an traditional fundraising platform that leaves our launchpad partners with a significantly higher percentage of their raise while also benefiting the Jetfuel Ecosystem.

If you're a project looking to raise funds and get a marketing boost - please send us a DM and we're happy to give you the details on our launchpad

KDOT (AMA Host): Great answer!

Q7: Can you go into more detail about $JETS what are the benefits of holding & staking JETS?

MIRO: JETS is the keystone to the Jetfuel ecosystem.
JETS is our audited Staking and Governance token. As most people know, FUEL has a 2% transfer tax built into it’s smart contract. 1% of the tax is burned for ever, about 4,670 Fuel has been burned worth nearly $250,000, and 1% of the transaction is sent to the Hangar reserves for JETS staking.

The only way to get JETS is by staking FUEL for it. We've implemented a 2.5% withdraw fee when going back to FUEL to ensure JETS holders are long time holders. So far, it's working! 53% of all FUEL is staked and that's worth over $1,414,000.

We are developing our ecosystem to provide JETS holders with 7 potential income streams.

-60 FUEL per day from the Hangar Reserves is sent to JETS holders.
-The USS Gerald R. Ford Fuels Pumping pool gets 5% of new fuel emissions per day
-4% of every vault harvest is sold to FUEL and sent to JETS holders
-GFORCE (in development) passive yields and staking
-Staking opportunities with our partnership tokens
-A % of net profit from our Fortress Lending protocol will be used to market buy FUEL and sent to JETS
-A % of the swap fee from Jetswap will be used to market buy FUEL to send to JETS.

TLDR: Hold JETS and get paid A LOT.

KDOT (AMA Host): Mind blowing!
With so much going on, this leads to our next question...

Q8: What are the most recent challenges for this project?

MIRO: That's an easy question - pushing products out as fast as we can and not burning out the dev team. We've more than doubled our dev team and payroll to keep up with BSC and our developments.

KDOT (AMA Host): your answer above kind of responds to the next questions also but I'll ask it, just incase you want to add a little more.

Q9: As the project grows, do you plan on recruiting necessary people to help with onboarding projects other than devs?

MIRO: Of course! Our analytics show strong support from Indonesia, China, and Argentina. We're looking to further build our spanish speaking channels and start our Indonesian and Chinese channels.

We're looking to bring on more people to help out with marketing and business development so we can remain a leader in the space and continue our growth.

KDOT (AMA Host): Great, which leads onto our next question...

Q10: Marketing is vital for projects, how do you plan on doing this to grab more attention of new BSC users?

MIRO: We love our friends at BSC NEWS, using media and news platforms to spread the word about Jetfuel and increase our engagement with the community.

Twitter has been a fantastic tool to reach DeFi users. We see a lot of potential with Twitter strategies.

Also, using our launchpad to build partnerships and spread the word about Jetfuel and treating our community well so they're happy with Jetfuel. Positive word of mouth is probably the best marketing tool you can have.

At the end of the day, if you can treat your community well, and make sure that you build a platform people actually want to use, a lot of the marketing will take care of itself.

KDOT (AMA Host): Amazing! Well, last question, as it's concerning the recent product about to launch;

Q11:  GFORCE is an RFI fork, we have seen a few different tokens come over to BSC (Vapor, Trinity). How is GFORCE different? And how does it benefit the whole ECOSYSTEM?

MIRO: GFORCE is nearly ready for release. We'll have more details very soon. The core of GFORCE will be providing passive yield to JETS holders and partnership opportunities, and staking opportunities. We'll have more ready soon about GFORCE.

GFORCE will be a Jetfuel Launchpad project

Keep an eye on our twitter and website for more info about our GFORCE public sale.

KDOT (AMA Host): Okay, perfect! Before we wrap this up;

Thank you all for listening!

Miro, we really appreciate you for putting some time aside to attend the AMA today!

MIRO: Sure! and a quick plug of our Website, Twitter and Telegram groups.

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