Stone Temple Binance AMA Transcript

"Stone Temple Binance is a DeFi platform that takes user benefits to the next level. Stone Temple Binance has two proprietary tokens: STB and PLUSH!"

By
BSCNews
on
October 3, 2021
Category:
AMA

Andrew (BSC.News)

Hello everyone and welcome to the AMA with Stone Temple!

Kurt Cobain (Darkside.finance)

Intro

Andrew (BSC.News)

Today we have the legendary Kurt Cobain and Wojack Horseman joining us today to talk about their amazing new project!

Kurt Cobain (Darkside.finance), 

Before we get started, for those of you who don't like to read, and i know thats most of you lol, check that video above :)

Yes and let me watch that briefly as well

And our full link dump is:

🌐 Website

💬 Telegram

📚 Medium

📱 Documents

📽 YouTube

STONE TEMPLE BINANCE

STB is The DeFi platform that you can own! 

🎸 Stone Temple Binance will be the only user-owned DeFi platform and yield farm on the Binance Smart Chain! All farms and pools emit two tokens!

💵Ownership token (STB) stakers receive BUSD dividends: 

-75% of deposit fees

-50% of other platform revenue 

💵Yield token (PLUSH) price support receives:

-25% of deposit fees 

-50% of other platform revenue!

📈 Stone Temple Binance will be BSC release of Sugandese Tokens' highly successful system on Polygon Network. We had two previous cash presales totaling $900,000, which both sold out within 2 minutes. After that, we distributed over $900,000 in USDC dividends within a few weeks! Our NFT Sales, Lootbox, and OTC contracts have generated over $70,000 profit within a couple of weeks after release. At its peak, our Polygon system reached $33m TVL and $14m native market cap!

🎰Profit-generating Contracts:

-On-chain over-the-counter (OTC) trading engine

-Loot Box contract: Pay for three chances to win coins or rare NFTs!

-NFT sales: Your chance to own a piece of a company that sells NFTs

-NFT staking: Staking pools for NFTs, NFT sales to generate revenue

-Gambling: Slot Machine preliminary audit received

-Poker in early development

🎫 The Stone Temple Binance presale accepts BUSD! Participants in the BUSD presale will also receive 1/3 of the public tokens for our next release on Fantom blockchain! That means you get FOUR tokens for contributing BUSD: ownership and yield tokens on two blockchains!

🎉 To participate in the presale, head to:

📷 Presale pitch deck:

⏰ The presale swap period ends October 7 at 2030 GMT! ()

and this right here is key guys

dont forget to read this last thing

even if you just TLDR'ed the rest

start reading right here

💵All presale participants receive:

-A fixed ratio of STB (ownership token) and PLUSH (yield token)

-A fixed ratio of ownership token and yield token on SoundGraveyard, our debut on the Fantom blockchain, to be released soon

-Yes, that's right, you get FOUR tokens for contributing BUSD in the presale

thats right guys

this is the first cash presale ever to yield FOUR tokens

when you participate in our presale, you get ownership and farming tokens on two blockchains: BSC and Fantom

the Fantom release will be soon (TM)

anyway i believe we have some prepared questions too!

Andrew, take it away

Andrew (BSC.News)

Awesome thank you! Loving that energy

Kurt Cobain (Darkside.finance)

We are high on life. And hash oil

Aren't we Wojak?

Andrew (BSC.News)

So how this will work is, the AMA will consist of two rounds. The first round will be us going through the questions that I had prepared for you before hand. And then the second round will be a community round where I will open up the room to allow questions to come in. The second round is also where we will select the two winners of our giveaway

WojakHorseman

YES WE ARE

Well just water for me

Kurt Cobain (Darkside.finance)

Great!

Andrew (BSC.News)

Well glad that you guys are here for this AMA! I can promise you our community has the same energy as well that you will see during the community round

So first off


1. Please introduce yourself and the team behind Stone Temple.


Kurt Cobain (Darkside.finance)

Well I'm Kurt Cobain of PolyWantsACracker, Stadium Arcadium, Darkside Finance, and now Stone Temple Binance, and this is Wojak, our lead engineer

WojakHorseman

Hi there, I'm the lead dev here at Stone Temple Binance.

I love everything blockchain and have over 11 years in commercial software development and graduated 🎓 from a top Russel Group university over here in the UK.

Together with Kurt, this will be our 4th farm launch now and we are eager to bring our great dapps to you guys over on BSC! We like to think we do things a bit different to other farms, with fair tokenomics and multiple revenue streams to reward our holders!

I love this space and enjoy getting up every day to serve our community :)

would you like to say more about yourself and the team Wojak?

Any other words about other team members?

we do have a team page

we try to be very transparent about who we are, where we came from, and what we do

we have shown everyone lots of what we are developing too!

Also I've been KYCed 5 times now

once by RugDoc for each platform release and once by BSC News

We also have some great people around us who help write some of our contracts and do some of our UI and animation and do a fantastic job

id like to congratulate BSC news on being a very thorough organization btw

Kurt Cobain (Darkside.finance)

i was asked to KYC just for this ama which means that the team of bsc news truly cares about its community

and i really like to see that, i was more than happy to do it

so we are very up front about our identities when asked actually

ive also sent off doxx for various things

anyway i think that about wraps up that q

andrew next question?

Andrew (BSC.News)

Yes of course, it is just a procedure that we do to ensure that our community only receives the best projects possible

Kurt Cobain (Darkside.finance)

Video

Andrew (BSC.News)

So the next question is one that I'm sure the community is here for

Kurt Cobain (Darkside.finance)

That is absolutely a good decision because community assurance is always an issue

Andrew (BSC.News)

Which is


2. What is Stone Temple Binance?


Kurt Cobain (Darkside.finance)

Sure! Stone temple binance is our dual token DeFi platform

we are having a presale for it

all pools and farms will emit two tokens

and we will have lots of convenient deposit options including lots of favorite coins that dont have many pools elsewhere

such as ltc, xrp

and we will also have pools for our two native tokens

our single token STB pool will emit 75% of the deposit fees and 50% of all other platform reevenue as BUSD dividends

wait a minute

what the ****?

yes thats right

75% of all deposit fees

and 50% of all other dApp platform revenue

will be distributed to these token stakers

💵Ownership token (STB) stakers receive BUSD dividends: 

-75% of deposit fees

-50% of other platform revenue 

💵Yield token (PLUSH) price support receives:

-25% of deposit fees 

-50% of other platform revenue!

and the rest of all the revenue goes to AMM support of our farming token

which is called PLUSH (haha)

so we dont even have a fee wallet

the creators are working for the same dividends you are

and actually the creators are not the majority holders

if you count the public together, the public will get more than the creators, infrastructure, combined lol

so what we have here is really a true tokenized corporation

pretty much everybody else relies on a fee wallet in some way but we dont

we have completely revampled masterchef in order to accomplish this

but our tokenized dividend system on polygon has distributed over 900k in usdc dividends this way

and we only raised 900k in cash

so we have out-dividended our raise

and i think we did that the fastest out of any company ever. within 3 weeks.

we also have income-producing dapps:

🎰Profit-generating Contracts:

-On-chain over-the-counter (OTC) trading engine

-Loot Box contract: Pay for three chances to win coins or rare NFTs!

-NFT sales: Your chance to own a piece of a company that sells NFTs

-NFT staking: Staking pools for NFTs, NFT sales to generate revenue

-Gambling: Slot Machine preliminary audit received

-Poker in early development

we have sold out 8 decks of our lootbox contract, which is an innovative way of distributing NFTs and rare tokens, and its a form of gambling

so we can use that as a marketing tool to distribute ours and others' NFTs, which we have done

we also have an OTC engine

which is working and you can see it here:

so what that does is allow you to trade any ERC20 token

even ones with no liquidity

so you can put in an individual order for something like a presale token and sell it for a stablecoin that way

and its peer to peer which means token communities can rally around it to avoid their coins hitting AMMs

this generates a 0.24% volume fee which is auto liquidated and split between busd dividends and plush amm support

some links on that:

our lootcrate:

🌐 Website

💬 Telegram

📚 Medium

📱 Documents

📽 YouTube

and our docs have a very thorough description of what else we're developing

we have a slot machine contract in audit.

we have received preliminary audit, will be done and released soon

the UI is basically done

so it turns out that online poker is super popular

but poker players often lack good outlets

their sites keep getting shut down

and the ones that dont tend to charge very high fees

and if you dont believe me, go here

https://www.primedope.com/online-poker-rake-comparison-rake-calculator/

average is over 4 percent. so we can actually make a lot of money by chargine 3%

and that is surprising!

so we feel that gambling will produce a lot of revenue for divs and support.

Andrew (BSC.News)

Okay wow, thank you for all that information ! I can see how passionate you are about Stone Temple

Kurt Cobain (Darkside.finance)

high on life and hash oil'

Andrew (BSC.News)

But just to unpack, and go more in depth


3. What does it mean when you say that you offer “user-owned yield farms”? How is it different than other yield farms from DApps on BSC?


Kurt Cobain (Darkside.finance)

this is the bottom line:

💵Ownership token (STB) stakers receive BUSD dividends: 

-75% of deposit fees

-50% of other platform revenue 

💵Yield token (PLUSH) price support receives:

-25% of deposit fees 

-50% of other platform revenue!

that accounts for 100%

haha

there is no other money!

we dont have a fee wallet

the creators get paid by the same method users do: by harvesting those sweet BUSD dividends

so the incentives are totally aligned between me, wojak, and the users

wojak even thinks im an ******* but he doesn't care because incentives!

jk lol

seriously though

WojakHorseman

Hahahahaha

Kurt Cobain (Darkside.finance)

everybody makes money the same way

the users truly do own the farm in that they are hard wired to receive their share of the profits

there are only 100,000 stb that will ever exist and a big chunk of it is up for grabs in our presale

but that is literally the only way to make the farm's profits, to have those tokens. thats what user owned means

pretty much nobody else can say that because all others have a centralized fee wallet somehow.

🎉 To participate in the presale, head to:

📷 Presale pitch deck:


⏰ The presale swap period ends October 7 at 2030 GMT!

💵All presale participants receive:

-A fixed ratio of STB (ownership token) and PLUSH (yield token)

-A fixed ratio of ownership token and yield token on SoundGraveyard, our debut on the Fantom blockchain, to be released soon

-Yes, that's right, you get FOUR tokens for contributing BUSD in the presale

Kurt Cobain (Darkside.finance)

Video

Andrew (BSC.News)

Okay great!

So I know you touched upon it earlier

but


4. What is $STB and how is it used on your platform?


Kurt Cobain (Darkside.finance)

Right so stb is the ownership dividend token

it is emitted through pools and farms, but your only chance officially to buy it in bulk is right here, at the presale link above, at the time of the presale

the majority of the STB that will ever be released to the public will go during this presale period! so dont miss it!

stb can be staked in regular LP pools, it can be used as a regular yield farming token actually, we have pools for it if you want to use it that way

but that sink basically takes tokens out of the dividend pool

and only the dividend pool gets the 75% of deposit fees and 50% of other platform income

so when you stake STB, you get an extra large share because others are using it to LP

at any rate, STB is the key to receiving platform dividends

and 22,500 STB (22.5% of the total supply) is for sale in the upcoming BUSD presale

the creators get less than that lol.

so the way we have set this thing up is pretty generous to the presale participants, they have a chance to literally own the farm and also they get 1/3 of the fantom network public tokens as bonus tokens

Kurt Cobain (Darkside.finance)

next question

Andrew (BSC.News)

Okay yeah that's super cool how owners of your token on BSC can also be exposed to Fantom Network as well

Kurt Cobain (Darkside.finance)

Kind of like being exposed to coronavirus but less likely to end up dead

Andrew (BSC.News)

So this next one is one that we discussed previously but I wanted to make sure that our community heard your answer as well

And yes exactly lol


5. How is it possible to offer such large multipliers in your pool? What are the pros and cons of this?


Kurt Cobain (Darkside.finance)

So multipliers are a way of dividing up the emissions

the overall emission rate is separate from the multiplier

so the multiplier is just what relative share of the overall emissions each pool gets

our STB and PLUSH emissions will be controlled by separate patterns which you can see in their respective sections in our docs:

so the multipliers just determine how each pool splits up the overall emissoin

and i believe our lowest multiplier is currently 3-5x. so we could have divided all by that number and it would not have effected emissions

so why make them large?

because people enjoy getting large multipliers lol

if you were in a pool, would you rather get 1x or 10x? 10x of course, even if you actually receive the same number of coins

anyway, just a fun exercise in consumer psychology


Andrew (BSC.News)

Great, thank you for that answer!

Like I said, we spoke of this yesterday but it was such a great explanation that I wanted you to reiterate for our community here


6. Can you tell us more about your NFT staking feature and how users benefit from this?


Kurt Cobain (Darkside.finance)

Oh yes. We are the only platform that allows true NFT staking

we have a whole extra Chef file called the NFT chef!

and wojak can fill in on extra details if he wants

but more or less, we have replicated all staking functionality for NFTs

and it has proven very popular proportionally for the NFTs for which it;'s been enabled on polygon

basically we even have an emergency withdraw feature

we have a feature that shows which token IDs are staked

Kurt Cobain (Darkside.finance)

you can stake for a flat fee in BNB per set

WojakHorseman

The NFT chef works in a very similar way to MasterChef, but is erc721 enabled. It also has a view function to allow you to display the nfts you have staked at any given time. A feature our users seem to appreciate!

Kurt Cobain (Darkside.finance)

and we have opened pools for 4 popular series to start

Thanks Wojak, and yes, we feel that this serves as a very strong promotional feature especially in conjunction with our NFT sales and lootbox

of course, the NFTs we sell are also stakeable

and of course, the NFT business is the most lucrative segment of crypto right now

because youre planning to consider investing in OWNING the business, i can tell you this

NFT sellers make a lot of money lol!

we have made over 40,000 matic selling them on polygon and polygon is considered a relatively weak market for nfts

so if you are considering investing in a crypto company, you want that company to be selling NFTs

it makes a lot of money thats why everyone is doing it. and this is really your only chance to own a piece of a corporation thats focusing on it.

anyway NFT staking provides our tokens

STB and PLUSH

our token utility is gonna be great by the way

so for NFT staking you get tokens that will reward you with the ability to buy loot packs

you will be able to play a PLUSH slot machine

you will get dividends

there will be a poker table for it

so youll get lots of utility for those tokens, they are not just some garbage like so many others

anyway we also plan to set up promotions with other NFT makers and hopefully get paid to open pools

just like we are planning to white label our OTC and have a major exchange use it (advanced stage of talks), we can set up lootboxes for other people's NFTs or put them in our own lootboxes

and all those NFTs could be staked, reveaeling the synergy between all these parts

so nft staking is really a key thing that brings together various elements

next question

WojakHorseman

As well as having 3rd party sponsored nfts in some of our loot crates

Andrew (BSC.News)

Okay very nice!


7. What is the PLUSH token and can you explain the “Mirror to the Moon” emission pattern?


Kurt Cobain (Darkside.finance)

Yeah the PLUSH token is the platform's designated yield token

it has no maxx supply like STB does

the reason we need another token is because only so much STB can ever exist

its not a true dividend token if you keep diluting it

that is what the experiment of Augury Finance proved if you're familiar with their history

they had dividends, but it was all one token, which was also a yield token. that didnt work so we have two tokens, one that conveys ownership and the other whose emission we fully control

we have auto emission evolution based on gradients we set, and several of those gradients make up the mirror to the moon.

i can explain that more.

The mirror to the moon emission pattern is all documented at:

If you look at the bottom of the page you can see the exact mathematics of how it's set up

we initially start out with very high emission

and the goal of this is to give non-native depositors a good experience

we want to try to pay non-native deposits back within the first day or so (although we cant guarantee results of course)

so using that pattern shown


we can give people a satisfying emission up front while then tapering it down later

so we believe that it's tuned for both immediate satisfaction and longevity

we have learned from all of our experiences and we are not emitting PLUSH too slowly

we are averaging emission of 15% of the initial PLUSH supply per day over the first 2 weeks

So high APR seekers will not be disappointed

and of course, the deposits fuel dividends

so we feel that this has the potential to create a positive feedback loop in terms of token value, we hope we can use this to maintain deposits for the whole two weeks

anyway thats the mirror to the moon! initial emission rate 69.420, very scientifically determined


Andrew (BSC.News)


8. Are you audited? What mechanisms are in place to ensure users that their funds are safe?


Kurt Cobain (Darkside.finance)

Yes sir, we have completed our audit with Paladin:

we have actually had our side contracts audited through them too

WojakHorseman

Every farm we have launched has been audited by Paladin. The best in the industry we think.

Kurt Cobain (Darkside.finance)

and paladin is great because they really take user experience into account too

we cant overemphasize enough how good they are

WojakHorseman

Our dividends code has now been triple audited

Kurt Cobain (Darkside.finance)

they have done stuff like extra reviews of our contracts after they were supposed to be completely done with the job

they have continually surprised us with how good an auditor can be

so all of our stuff so far has been audited by them

also

i personally have been KYCed 5 times now

4 times by RugDoc and once by BSC News HAHA

that's our Low-Risk KYC review on RugDoc

so this is a form of assurance we take so very seriously

guys, we know about the rugs

we hear about them all the time

but we have been here for 3 launches so far and we havent run yet

we have handled 900k in customer funds and distributed more than that in dividends

and we have been extremely generous in terms of things like the percentages we put into public liquidity

and we always lock liquidity, in this case for at least 60 days


WojakHorseman

Also as we have no fee wallet we can't rug the funds destined for our fellow owners wallets, even if we wanted to.

Kurt Cobain (Darkside.finance)

we have a paladin provided locker contract and so the liquidity is very safu

and yes as wojak is saying, our system's architecture is hard wired to distribute all profits

we literally have no fee wallet

thats another "wait what the ****" statement

but its true

wojak and i and the infrastructure wallet all get paid the same way users do

by harvesting BUSD dividends based on STB deposits

we just have our share and thats it

the public gets more!

So its really hard to call a system "rugproof"

because who knows what somebody could do, you know? And people have forked our polygon L1 code and done bad things with it so we dont want to make promises on behalf of others.

but we feel that we do more than anybody else out there to hard program in the fact that money goes to the community

Andrew (BSC.News)

Okay great! Thank you for that amazing explanation as always

So last but not least


9. Any exciting news you would like to announce today?


Kurt Cobain (Darkside.finance)

well yes

we actually had a chainlink co-promoted post the other day

01

02

03

in 3 languages

lmao

So a top 15 crypto company is promoting our Lootbox adoption in English, Chinese, and Spanish

we have a Chinese speaking team member who is now setting up a chinese language AMA on their telegram or wechat

we have also had an educational article of ours published on rugdoc and actually id really recommend that everyone read it

also if you check out our youtube

🌐 Website

💬 Telegram

📚 Medium

📱 Documents

📽 YouTube

you can check some of our podcasts

on our podcast episode 2 we had the directors of mandala exchange

mandala.exchange

who expressed interest in licensing our OTC

and mandala

actually has a great publicity deal

they have engaged one of those publicity teams that costs 6 figures and gets them articles in like yahoo finance and cointelegraph

so we have some promotions going that actually are hard to get, took a long time, but are now coming to fruitiion

and that is a lot more than you usually get with like shallow VC stuff

this chainlink thing is a real featured technical collaboration

and thats what you want, not meaningless puff pieces

🎫 The Stone Temple Binance presale accepts BUSD! Participants in the BUSD presale will also receive 1/3 of the public tokens for our next release on Fantom blockchain! That means you get FOUR tokens for contributing BUSD: ownership and yield tokens on two blockchains!

🎉 To participate in the presale, head to: https://stonetemple.finance/presale/

📷 Presale pitch deck:

⏰ The presale swap period ends October 7 at 2030 GMT!

💵All presale participants receive:

-A fixed ratio of STB (ownership token) and PLUSH (yield token)

-A fixed ratio of ownership token and yield token on SoundGraveyard, our debut on the Fantom blockchain, to be released soon

-Yes, that's right, you get FOUR tokens for contributing BUSD in the presale

STB is The DeFi platform that you can own! 

🎸 Stone Temple Binance will be the only user-owned DeFi platform and yield farm on the Binance Smart Chain! All farms and pools emit two tokens!

💵Ownership token (STB) stakers receive BUSD dividends: 

-75% of deposit fees

-50% of other platform revenue 

💵Yield token (PLUSH) price support receives:

-25% of deposit fees 

-50% of other platform revenue!

and i think that wraps up that! any other words from wojak? otherwise next questions

WojakHorseman

Not particularly except excited to get this show on the road!

Kurt Cobain (Darkside.finance)

Alright! Looks like we're ready to go next

Andrew (BSC.News)

Okay great! Make sure you all go and check out Stone Temple Binance, super passionate team looking to bring tons of utilities and optimized yield farming to BSC :)


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