LBank AMA Recap with Meta Ruffy
On 24 February we held an AMA with the Meta Ruffy, hosted on LBank official telegram channel. If you missed this telegram session, here’s another chance to get a full transcript of the AMA event.
Q1: Can you summarize what Meta Ruffy is?
A: We are a metaverse, and there’s a broader sense into what is a metaverse, right? I think that there is a huge strain on and what Defy was in the very beginning. And then how we got established a little bit more in 2000 with token economics.
And then last year was NFTs. And I think this year and for the next few years to come, it’s going to be a heavy focus on what the metaverse is. And we have created a metaverse platform that has already been fully set up. It is downloadable in google play, windows, fox, or chrome. IOS is also going to be available within the next 7 to 10 business days. It’s cruelly under review. Then from there, we’re going to go PS5, Xbox, Oculus, etc. The way that we have it attached to the defy space is that it is the MR token itself is simply related to the game aspect.
What the metaverse is going to create is essentially limitless. Through our imagination, while we already have structured buildings already in place within the metaverse. a roughie mall. There’s going to be a university in place. There’s a stadium place. We have so much to offer and my suggestion is for everyone to visit our website. And then you’ll have a better sense of how the project is progressing every single day.
Q2: Meta Ruffy is such a great project. Firstly, you mentioned that we will have a university there. As you said them, our imagination is only our limits right now in the metaverse. I would like to ask, could we be able to go to that university actually in the Meta Ruffy?
A: Yes. So the concept is quite interesting. Imagine if we were able to establish what we created, let’s just say that during the middle of the pandemic or towards the very beginning of the pandemic, where social interaction was such difficult. It’s hard to interact with individuals directly like you can be in close proximity and actually have vocal interactions with them. It’s not via text. That aspect already is such in far advance from what you have seen so far in the space. With the university, it’s a near dear thing for the CEO. It’s for simply awareness and capabilities of so many people around the world that don’t have the capacity to have a proper education and how we’re able to also establish defy education into the space.
Q3: Staking, Farming and NFTs have proven to be very good ways of attracting users and improving Adoption. What are your thoughts and plans on these features?
A: We do things quite differently because we created almost everything before we received one single penny from any investor, both in private presale, and then the public launch itself, which differentiates us from the majority of the projects that you see.
And again, I’ve been around for a very long time. I started in the very beginning of token economics projects. I know how this aspect works. Staking and yield farming came out towards a couple of months after token economics really fired off last March. It was very important to have that all established. So we have our first series, NFT collection that was fully minted out when about 4.5 days. And that has multiple use cases, both on the token economics aspect and also within the metaverse itself. You can stake that NFT yields a fairly high APY to earn more and more within our platform already. You’re in the use case for the actual NFTs within the metaverse is going to be on a numerous case basis.
You’ll be able to use it for booking agencies, for the events that we have planned. You’ll be able to use it within the malls where artwork is displayed. Our marketplace for the NFTs has already been created. We actually just recently updated it as well. And then regarding staking, if you own our token and keep in mind, our main focus is not in the crypto space, but the mainstream space of the user of the game itself. So the mainstream user that goes in our game and needs to buy Meta Ruffy tokens, which is our only main currency of using in-game. Capacity, is not your typical crypto investor, is just your typical gamer that actually wants to be used in the game.
So that is the outside element of added value that goes into a liquidity pool that doesn’t require or doesn’t need the actions of the crypto investors to grow its capabilities within the liquidity pulling value of MRs. With the MR if you do want to purchase that token, the utility for the actual token mechanism in there is our staking platform, and we have Pool, which is your typical staking APY of 150.
Then we have PoolII to PooⅣ, which is a mystery logic randomizer, that the moment that you initiate that, you can get anywhere between 200 And 600 APY depending on your locking, where you’re going to be allocated in those pools. It seems complicated, but actually, pretty seamless.
And all of our staking polls are full in there, open right now, every 7 years of these spots, every single day, which get taken in a hot second, because everybody wants to stake there. There are tokens for higher AFYs in greater USDT reflections that we offer.
Q4: Most solid projects with token utility and good infrastructure but perform poorly because investors dumped after listing on the first exchange. How do you prevent early investors from dumping your tokens?
A: I can simply say that our focus is not on the actual chart, even though we have a team strength of over 30 individuals that have been hand-selected throughout this entire process to help us strive for innovation. We are working on all cylinders. Our group meetings that we have on a daily basis, sometimes multiple daily bases, is all about the constant, cause and effect of everything that happens, both in the market that no one can control, the things that we can control and how we’re able to pivot that narrative.
Again, we are not a crypto project. Crypto is an added value to our project itself, which is the metaverse. Crypto is the essential currency of our inside game, which speaks so much louder than what you can see in the space. The way that I always explained it is to imagine having a project within the defy space, but that’s the thing that is caught in that bubble, of just the defy space. So you’re dependent within just the defy space. There’s no side element that helps feed that defies space without it, constantly wanting to take something out of it. And we have that. We have the value add of a utility in the real world use that is going to constantly feed it in, but never want to take anything out. And there’s not a lot of projects that you can ask that do something that’s just like that.
If you go into our space, you feel the energy of love. You don’t feel the energy of pressure. You don’t see anybody asking to buy, or anything like that. When there’s a dip that’s in there, whether it’s done forcefully by an individual that left or the market just acting what they’re acting. They’re not saying by the dip. They’re saying, thank you for the opportunity.
Everybody’s always looking for a better entry point because in now our project people will gently genuinely see the difference than what they have seen within the BAC theorem or any of the multiple blockchains that are currently releasing smart contract projects. This one’s just a little different. The ingredients that we have put into this create a little bit different masterpiece than what people typically say. And we know all from experience that there has been stuff that has come out that had a fraction of what we provide. And their valuation was significantly higher because they were able to bring a community together. And we are not even 2 weeks old. We have created something that far exceeds our expectations. And we’re just extremely excited of what the future comes.
Q5: Token Burn and BuyBack programs play an important role in increasing Token value. Do you have a token burn or buyback program plan to attract investors?
A: When it comes to burning, there is a percentage of the buys and sells. I believe it’s 2 %. I’m not mistaken that get reflected and burned. We burned 8 % at launch. As of today, I think 13.75 or 14 % is the burn off the supply. Why? In buybacks, we do them whenever we feel that it is necessary. And we have only done it once. And that was just simply as a show of appreciation for everybody’s hard work. The way that this all works, or the majority now, is that there’s a percentage that goes into your deaf taxes. And we have a large percentage that goes into USDT reflections that are working. And everybody’s really enjoying those as well. So there’s always a pool of value for the community to know that every buy and sell has something good that comes out of it, whether it’s a buy or a sell, the community, all enjoys it together. And they want to make sure that their money doesn’t go in vain or their investments that don’t go in vain because they simply don’t. And that’s the way that we have it fully structured.
It’s important to have stability. It’s important to have the reward systems for the individuals that have a stronger belief and what we are creating in what the potential is going to hold for MR in the foreseeable future. Again, we have just so much planned. It’s a very long list of things that we’re going to be accomplishing. This is just not even on the metaverse side and how we’re creating that game. But everybody always looks for the added value of awareness, right? Because they want to be that project that they want to be that diamond in the rough, the needle in the haystack, knowing that they are the ones that pick the winner. It’s so difficult to do because I always treated as people thinking that this is like the lottery game where they finally found their winning ticket. And for me, it’s the betterment of odds where our project has a better chance of creating that value because of the amount of effort, hard work, financial contributions that we have put in there before even starting the entire aspect of the launch, far see what you have seen in anywhere else.
We know we started with our first major listing LBank which were super excited about is our second listing within just 2 weeks. And we have listings now for the next 6 weeks straight, we’re going to be at the Crypto Expo Conference. We have a Diamond Booth there, number 73 for the 16th and the 17th. What we have planned is just far beyond what I see anybody else attempt to try to do, because the majority of projects tried harbor as much as they possibly can, because they and always are concerned about the expectancy of how it’s going to turn out at the end, where we just keep on going, because our vision surpasses way beyond what is being ingested on a daily basis with volumes and percentages. That is a constant turnover to add in more value.
Q6: What does Meta Luffy have to offer that sets it apart from other metaverse world platforms? And what future projects will Meta Ruffy make it easier to buy other than using BNB coins?
A: In the meta roughly world, our main and only currency is Ruffy token. What makes us different? I take a look at all the other projects that are currently out there that are deemed to state that they have a metaverse and see how far along that they’ve been. We’ve known them. We don’t need to say them. We know their evaluations, we know how high they are. But what can they physically show that they have accomplished? There’s not much that can there’s a lot of back and work, but they haven’t really put anything on the front end.
And for us, we just need to do change the narrative completely. So we decided to put everything on the front end, valid value, added value. We’re going to be having land sales, starting private sales while we’re in the Crypto Expo. And then about a week or two after that, we’re going to be doing pre-sale and then private and a public sale. And that’s going to be a land that you’re able to not only purchase, but you’re physically able to have within the metaverse. So that will be your land with which you can do what you want. You can build a city in your land, can build a just a sanctuary at peace and you can invite in individuals within your land. And there’s only going to be a certain number available: what that valuation looks like, what that turnover rate is, etc.
Q7: How would Meta Ruffy ease the existing problems of the blockchain like high volatility and market manipulations?
A: We are very young as an intense entire industry. We are very young. So the volatility is an automatic given. Is MR going to be the judge and maker of that? Of course not. Ethereum and Bitcoin can’t still get a firm grasp and handle on the volatility aspect, because it’s decentralized and it’s still considered the wild west of financial assets in data trading.
We move in waves, whether it’s political, whether it’s what you hear on the news, anything can kind of sway that back and forth.
So for us to be able to help navigate that in such an early process is going to be difficult to answer. The way that I see it is that we ourselves are not going to be solely dependent on what the crypto does, because again, we are not a crypto-project. We are a metaverse project. We are a mainstream project that this is a gaming aspect. Think of things as percentages. There’s almost about 3% activity participation in crypto out of the entire population as a whole, how many billions of people live in this world of ours? The percentage of gamers is almost 3 times the amount in a population aspect. So that already puts us in different pools, because we are a metaverse gaming platform where that is a main structured user base.
So we don’t necessarily go by or follow the same rules as what goes on in the crypto, because that is not our value. That is our value add, but that is not our only value add.
Q8: At the current downtrend time, does Meta Ruffy have any strategy to keep the price? And if so, what is that strategy?
A: So we have the concept of stairstep, no elevator. Because I think historically we have seen that the moment you go through the elevator approach, it comes down just as fast. For us, we like to stagger our growth. We had a significantly high market cap in the first week during launch. And that recirculated itself granted also at the same time that the market had decided to do it typical move movement that we know that does whether it’s politically infused in an influence or it’s your typical recycling because we know very well large player layers in the defy space have the capabilities of simply just pressing a button and of leveraging and bringing down the market.
So then everybody follows and then they repress the button and everything goes back up. Again, our strategy is to stay on task, stay on message, and in making sure that we do go grow, we do not want to grow on our inorganically. Every single member that you see in our Telegram, Twitter, Discord… all those individuals made that decision to be there. We did not make that for them. We did not use any accelerators, any algorithms, anything. Each person decided to press that button to accept to be apart and listen to what we had to say. For that is we have a constant active organic participation within our community.
And you can’t say that about a lot of projects that are deemed to have 100,000 people when we know very well that those hundred thousand people were not organically created. For us, that active participation is our stairstep going up. As we continue to show value on a week-to-week basis, our chart will react accordingly.
And again, for us to pop instantaneously was never our approach. It happened because just the way that this market is in the recycling happens, just the way that this market is. But how we are gradually stabilizing in this market, in this format, and how everybody is essentially staying on task in our entire community is behind us and have not blinked in the eye. And what our chart is doing, because the fact that they know so well, that this is still so early on the forefront of what we are creating. That’s not a worry for us.