JetFuel AMA Transcript

BSCNews hosts Jetfuel Finance, a fair-launch deflationary yield farming ecosystem on Binance Smart Chain. All questions answered by Flight Commander Miro (@jetfuelmiro)

By
CryptoShrimp
on
March 24, 2021
Category:
AMA

Crypto Shrimp (AMA Host): First off, let's welcome JetFuel Team to BSC news! Miro is definitely a great supporter of BSC News! how are you doing today sir

Flight Commander Miro: @cryptoshrimp5 I'm doing great! It's always good to catch up with you Shrimp. BSC News is #1!

Crypto Shrimp (AMA Host): Its really nostalgic to be hosting this AMA, as for those who know me, Jetfuel is the first project that I got involved in moderating chat group at BSC network! Im sure this will be a wonderful AMA ! lets get started shall we?

Flight Commander Miro: Lets get started 😁

Q1 This is like the 3rd AMA with BSC News! Really glad to have your continuous support! Shall we start with an update of the current team in Jetfuel? I’m sure it has grown from where I left off.


Flight Commander Miro: Yes! Our core team has continued to develop and grow. We currently have 8 developers working on all of our new releases. We have 4 developers dedicated to building Fortress lending, our multichain moneymarket and lending protocol. 2 Developers nearly finished with Jetswap and 2 developers working on Jetfuel.We've added to our marketing department and hired @ChuckYeager as our Director of Marketing. He has an extensive background in business developement and deep connections in the music industry. We are working on some really interesting marketing and partnership deals in Hollywood right now. 😁

Crypto Shrimp (AMA Host): oh wow Hollywood!! is that gonna be a mr tom involved somewhere

Flight Commander Miro: haha we'll see!

Crypto Shrimp (AMA Host): hahaha

Q2 Can we also have a recap, how has jetfuel progress? lets see some impressive numbers!


Flight Commander Miro: As you know from your Jetfuel days, the team never stops working and innovating. Jetfuel's TVL is a healthy $55 million. We've added partnerships with Apeswap. Our reflect and automatic liquidity token, GFORCE was released to outstanding success. Our token sale sold out in 5 seconds and GFCE is trading about 9x higher than the sale price.  Fortress - our lending protocol, is nearly complete, as is Jetswap, our AMM. We predict $1 billion in TVL when our ecosystem is completed.

Crypto Shrimp (AMA Host): no doubt about working hard there, esp from yourself! I almost thot you were a bot at the start hahaha the progress is very impressive indeed cant wait to find out more about all that you have instore


Q3 Like you said Jetfuel finance will be a one stop shop, from pools, vaults, RFI (geforce). when are we expecting the release of fortress and jetswap ?


Flight Commander Miro: Yes. The DEFI landscape is complex with hundreds of new projects per month. Our vision is to create a 1 stop shop for the DEFI user. The Jetfuel ecosystem will include high APY yield farming, profitable staking, governance, lending on BSC HECO & ETH, launchpad, and an AMM with innovative features. We just pushed Fortress to our testnet and test domain. Things are looking excellent with our testing. The Fortress audit results came back and the contracts are "well-secured". I'm very proud of the dev team to produce such high quality work. We expect early april for Fortress. Jetswap is also nearly complete and the code has been shipped to the auditors for review. Jetswap will release shortly after Fortress.

Crypto Shrimp (AMA Host): oh wow thats exciting times for sure, never a dull day at Jetfuel!


Q4 I understand that $JETS are the core of rewards in the JetFuel ecosystem, can we need an update on what are the earnings that it is getting currently, we need some catching up on the earnings.


Flight Commander Miro: JETS is a truly great token. For those who don't know, the core token in Jetfuel is FUEL. FUEL is a deflationary token with a 2% tax on transaction. 1% of the tax is burned forever. Nearly 8,000 FUEL has been automatically burned. That's worth $1.64 million and is about 10% of the supply. The other 1% is sent to a special staking address for staking reserves. Out of that reserves, 60 FUEL per day is sent to JETS holders. The only way to get JETS is to convert your FUEL to JETS https://www.jetfuel.finance/staking/fuel 

JETS will have 6 income streams when we are finished building. Currently JETS holders receive

1. 60 FUEL per day from the staking reserves

2. A high APY FUEL pool

3. 4% of every vault harvest is used to market buy FUEL and is sent to JETS. 

4. an "Unlimited" GForce staking pool 

5. Net income from Fortress will be used to buy FUEL and sent to JETS. This applies to BSC, ETH, and HECO Fortress income. 

6. Swap fees from Jetswap will be used to market buy FUEL to send to JETS. 

Currently, JETS holders are receiving nearly $11 million per year just by holding JETS! We have one of the most profitable staking tokens in DEFI.

Crypto Shrimp (AMA Host): Jets is like the central bank for fuel too, all the earnings will be sent to jets holders!

this will also be a good representation of the earnings JETS receives

Q5 Lets talk about Gforce since its the new kid on the block, what are returns like? and how are the returns being generated?


Flight Commander Miro: GFORCE or $GFCE is an AMAZING reflect and automatic liquidity token with triple earning potential if you LP GFCE and farm with it. Similar to FUEL, GFORCE has a 2% tax on transaction. 1% is automatically redistributed to GFCE holders. This means if you hold GFCE you automatically, frictionlessly, and without gas or staking, receive more GFCE in your wallet. We wanted to build a staking system for JETS holders so we allocated 0.05% of every transaction to the JETS staking for GFCE address. This ensures this address always receives the most GFCE and will provide our ecosystem with an "unlimited" GFCE pool. The last 0.95% of the transaction tax is used to build liquidity automatically. Everytime someone buys, sells, transfer, LPs GFCE, the tax is applied and GFCE is sent to a holding wallet. Once the GFCE in the wallet crosses 100, the user who's transaction pushes it over the 100, receives 2 GFCE for free. That's currently worth over $16! The remaining GFCE is used to build an LP token to increase liquidity. There has already been over $205,000 in automatic liquidity built. After 1 month from release, we will allow GFCE-BNB LP holders to farm for the GFCE-BNB liquidity! So you'll be able to earn GFCE and BNB! and you can compound that back to earn even more!Also - the triple earnings in an GFCE LP are great!

You earn:

1. Passive GFCE yield in the LP

2. AMM Swap Fees

3. Farming rewards. 

Our newest GFCE vault is paired with BANANA from the great team over at Apeswap! The GFCE-BANANA

vault is paying 162,500% APY!

Only at Jetfuel.Finance

Crypto Shrimp (AMA Host): super impressive man! rewards after rewards!! Talking about collaboration wise brings me to my next question.


Q6 We understand that Turtledex rugged, which really caught us off guard. Do Jetfuel now have extra measures in place to tighten the scrutiny and security for IJO? 


Flight Commander Miro: The turtledex exit scam is truly devastating. For those who don't know - BSC NEWS did an excellent write up on the issue https://www.bsc.news/post/turtledex-performs-a-liquidity-siphon-rugpull-after-a-highly-anticipated-launch.

We've gone back to the drawing board to tighten up our IJO standards. We're partnering with a liquidity locker and a KYC provider with GDPR compliance and who's been service fiat banking and the telecom industry for years. While teams can remain anonymous, the background information will always be there and verified.

Crypto Shrimp (AMA Host): this is great stuff, like you always say more scrutiny can only make the projects safer


Q7 For the upcoming fortress, how will the lending be done? Is the loan going to be used only on jetfuel ecosystem or like a collateral to let us take the funds and invest else where?


Flight Commander Miro: We're taking inspiration from Venus and Compound to build Fortress. 

Users will be able to deposit their tokens and earn interest paid by borrowers. Lenders, Borrowers, or stablecoin minters will earn FTS tokens each block. We updated the FTS reward rate to 2.5 years to give users a high overall APY when lending and to reduce or even have users make a return while borrowing against their collateral. 

We're working with multiple partners to create dAPPS and portals around the BSC Ecosystem to quickly drive growth and adoption to Fortress. 

Our Fortress road map will include:

Spending FTS tokens to modify rates. Spend the FTS to reduce your borrowing costs and spend FTS to increase your APY lending interest. 

Fixed rate interest on lending and borrowing. 

Flash loans

non-collateralized lending 

deployed on BSC, ETH, and HECO. We're looking at other blockchains as their DEFI volumes increase. 

and much more as we grow 😁

Crypto Shrimp (AMA Host): those are huge development


Q8 How about the long term goals seems like fortress and jetswap are within sight of being roll out soon, are there more ideas or development from jetfuel?


Flight Commander Miro: We're always thinking of ways to push Jetfuel further. NFTs are the next hot thing. We're very close with the Billions happiness team and they're building a great NFT marketplace and NFT minter. We plan to incorporate their NFT system into Jetswap.

We're planning some triple layer auto compounding vaults to be released with Jetswap. Keep an eye on our socials for more information on that 😁


Q9 Do shill all the links that you have for jetfuel! For us to follow the development of the project and also learn more about the development

Flight Commander Miro: 

Jetfuel Links:

🌐Website: https://jetfuel.finance/

🦆Twitter: https://twitter.com/Jetfuelfinance

☎️Telegram: https://t.me/jetfuelfinance

ℹ️Medium: https://medium.com/@jetfuelfinance

👨‍💻Github: https://github.com/jetfuelfinance


Q10 Lastly the famous question before we wrap this up, do you have any alpha or juicy news that are upcoming for jetfuel?


Flight Commander Miro: of course!

This is leaked before our website and socials are updated 😁

Our next IJO partner will be Stellar Invictus!  https://www.stellar-invictus.com/

They're building an incredible mobile sci-fi MMO with real cryptocurrency usage in the game!

Crypto Shrimp (AMA Host): nice! cant wait for it !


Crypto Shrimp (AMA Host): Thank you so much for your time on BSC news for this AMA @jetfuelmiro . So excited to see all the upcoming development! Hope that you will continue your support with BSC news and we do hope to see you again!

A transcript of this AMA will be out shortly for those who missed it.

Do stick around and interact with our audience too 🙂
Flight Commander Miro: Absolutely! Thanks so much for allowing me to come back!

Tags:
No items found.