LBank AMA Recap with BTFA
On 13 April we held an AMA with the BTFA team, hosted on LBank official telegram channel. If you missed this telgram session, here’s another chance to get a full transcript of the AMA event.
My name is Sway and I am the lead marketing developer for Banana Task Force Ape aka BTFA.
Can you tell us How does the $BTFA token economics work?
So, we kept $BTFA token economics very simple, making our total taxes 10% (2% liquidity and 8% marketing). Because we set up everything like this, we can have some of the cheapest gas when it comes to acquiring our token due to our contract being not as complex. We wanted to keep everything plain and simple for our community and potential investors.
Do the token holders have the right to participate in the governance of the project? What kind of decisions can they vote on about the project? What are the benefits of Holding your project token?
Yes, so we will be taking a snapshot within the next few weeks where our token holders will be airdropped our governance token. Because they will be airdropped our governance token, they will have the right to make eco-system-changing proposals depending on the amount they hold. These decisions can range from small to big when it comes to ecosystem. The benefits of owning $BTFA are getting a free airdrop of our governance token, whitelisted to future IDOs that we do, and NFT mint collections they will come about.
Liquidity, Transaction fees and slippage are always the 3 important factors in financial services. How does $BTFA solve the above problem to attract more users? What innovations will it likely make to improve users trading experience?
Yes, with our ecosystem, our Governance token will support our Native Token when it comes to liquidity. We will also be boosting our liquidity monthly by adding liquidity to our uniswap pairs. Instead of buying back tokens to increase the price, we will be putting ETH in the pools to boost our liquidity. We have no transfer fees so that investors can move funds quickly amongst wallets, and also, because our slippage is 10%, it’s relatively small compared to others. We solve it by making things simple and also trying to save investors money.
Can you tell us, What are $BTFA token functionalities? What is your plan to increase the demand and scarcity of the token ?
$BTFA token functionalities are the utilities such as exclusive membership to our discord, whitelist to future IDOs and NFT mint collections, and the ability to stake your tokens on our vaults where you make up to 80% APY. We are trying to establish exclusivity and passive income, but we will have our token be used as a form of payment for travel and hotel. We will do this by partnering with platforms like nowpayments and coinpayments.
Has any AUDIT been conducted on your project?
Yes we are audited by CertiK
Are you looking to forge more partnerships?, And if yes what projects are on the list and what qualities are you looking for in a potential partnership.
Yeah, so we are looking to partner with a couple of projects like Safu Ape ($SAPE), Volt Inu ($VOLT), and this new project called The Revolution Token ($TRT). We are excited to see where we can make of this. Whether big or small, we work with projects with integrity and trust in their community. We will also be working with some charities, and we have over 10 Youtubers sponsored by us.
Can you share with us what you are currently working on and describe the future roadmap of the project?
Yes, we are currently working on building our Governance Dao utility and token. We plan to list on another exchange next week and establish our partnerships.