LBank AMA Recap with MLP
On 23 June we held an AMA with the MyliquidityPartner team, hosted on LBank's official telegram channel. If you missed this telegram session, here’s another chance to get a full transcript of the AMA event.
My Liquidity Partner is a program that utilizes your coins within the most performing liquidity pools, run on Uniswap. With the advanced algorithms and experts we are able to give our Liquidity Partners from 0,75% up to 2.5% weekly return on their deposit.
I am the Managing Director for MyLiquidityPartner project, @Sofyapb is the Operations Director, and @Elvzoe is our International Project Manager 😉
Under the impact of market conditions, many investors have lost confidence in digital assets. The DeFi market is also facing a crisis due to the lack of liquidity. MyliquidityPartner was launched at this time, which should have borne a lot of doubts. So how does MyliquidityPartner cope with all this skepticism? Can you share with us the achievement of MyliquidityPartner so far?
The MyLiquidityPartner program initially started almost 2 years ago, so as we have grown our community, naturally their trust in the project has grown drastically as they have seen the benefits of the program, especially within market conditions similar to the current state 😏
As we operate by collecting the swap fees on UniswapV3, the only market condition we need to maintain is activity, which means that as long as the market is moving up or down, our liquidity partners will continue to receive their yields. Providing liquidity to the DEXs is one of the most performing activities during the bear market, that is why our Liquidity Partners have a lot of trust towards the project, as they see the way it operates 😊
As crypto natives, we all encourage our community to do their own research and be careful where they engage their tokens.
It is understood that the main purpose of MyliquidityPartner is to mobilize investors’ trading enthusiasm and provide liquidity for the market. However, this kind of project has been crowded in the industry for a long time. In the current market, many projects cannot continue to operate due to lack of liquidity, while MyliquidityPartner keeps making profits against the current trend. What is the economic logic behind this? If the market starts to turn around, will MyliquidityPartner be able to maintain this kind of performance?
MyLiquidityPartner program currently utilizes Uniswap platform to engage liquidity and collect swap fees. As it stands Uniswaps total trading volume has just surpassed the $1Trillion trade milestone, which would arguably make it the top DEX exchange currently. We are making sure that we provide liquidity to the most performing pools on Uniswap, so we are able to collect enough fees to maintain the weekly payouts for the partners. A common problem of many of the other Liquidity pool projects is that they mismanage their pool operations, or they lock in their LP’s for lengthy periods of time to ensure liquidity from the other users, or they are greedy in regards to the yield share return splits….Whereas within MLP, we have prided ourselves on a No-Lock-In period promise, along with generous returns, and a full protection policy in place.
In the current bear market, hacker attacks are also occurring frequently. From the perspective of investors, the security of project agreements is also of great concern to the public. How to minimize the user’s asset risk?
From the experience, hacks and data breaches are always at the forefront of everyone’s minds in today’s age of technology, but even more so in the DeFi industry 😒
In order to provide the highest security level for our partners, we have had a full audit of our platform and $MLP token, moreover, we have a protection policy in place that ensures all the funds in our Liquidity pools 🤑
We also have collaborated and employed the brightest minds to ensure we have the most secure platform possible, with security checks and updates occurring constantly. Regardless of your knowledge level of cryptocurrency or digital assets, you must have a baseline amount of how to keep your wallet safe, and how to identify scam attempts 🤓🤓
❗️And a few more tips in regards to overall security within this industry:
🚨DYOR: Do Your Own Research on EVERYTHING. We cannot stress this enough.
🚨Never trust a random individual messaging you on any social media platforms, promising unbelievable returns. Authentic projects will NEVER message you first.
🚨Write down your wallet keys with PEN and PAPER. We know this sounds contradictory in our industry and age but sometimes classic paper is the safest way to ensure no one else gains unwanted access to your wallet.
In order to lower the threshold of the platform, the introduction of MyliquidityPartner tokens provides a convenient way for investors who are not qualified to pledge funds, and holders of MyliquidityPartner tokens can also obtain corresponding rewards and rights and interests. So in terms of the price potential of the MyliquidityPartner, where do you think it will go and is the price right now in line with your expectations?
well, we realized quite a while ago that the DeFi industry does not cater to the large percentage of individuals who want to participate but do not have the necessary funding for one whole ETH or one BTC, so we decided to launch our $MLP token to allow everyone to be able to participate regardless of their income bracket, as that is what decentralization is all about — inclusivity and returning financial power back to the individuals
The price trajectory is right on track, and we are very pleased with the upcoming announcements, but we can’t say too much right now.
We have created a very stable infrastructure in terms of the tokens cycle and utilities within the ecosystem, and have implemented a myriad of market mitigation techniques to ensure the stability of our project. We are sure that listing with Lbank will strengthen our positions even more
So this is a great question that we are actually very passionate about…
We have always held the concept of inclusivity close to our hearts, and as core basis of company ethics, therefore we have planned, structured, and designed the ecosystem (both current & future) to be tailored in a way that everybody can benefit from the program.
Currently, the minimum deposit is set on 1 ETH only, this limit is set for only one reason: gas fees. It will not make sense to deposit less than 1 ETH, otherwise, your payouts will be eaten by gas fees. At the moment, we have a lot of whales on board as well as individuals who deposited just a few ETH.
However, those partners who cannot afford to deposit 1 ETH can benefit from the MyLyquidityPartner program through $MLP token as it was said earlier.
Whether you are entering the pool with a 1 ETH position or a 1,000 ETH deposit, our program facilitates and works the same way for all position sizes.
We have always had interests of the community in the first place, that is why with the profits of the MLP program we are funding our charity organization — Ruby Family Foundation.
What is your strategy to improve the quality of MyLiquidityPartner to stay ahead of the competition? How do you see MyLiquidityPartner collaborating with big brands and famous artists?
Amazing question, thank you Ban Tho
As you might know, there are about 70k liquidity providers to the Uniswap and probably we are one of the biggest. Firstly, we offer a very good yields for our community, personal support in case of any questions, but moreover, we are offering the full funds protection plan, meaning that even in the event of Uniswap hack, your funds will be secure and returned back to you!
Many projects doesn't like to talk about Audit and security aspects. Audit is important in project and good project has good security measures adopted. Do you have any audit done?
This is very important for us. Yes, we have an audit in place consistently done by a Dubai-based Lawfirm as a security measure as part of issuing our “LP Protection Plan Policy” which assures liquidity pool 100% protection. ))
Will MyLiquidityPartner be available in most countries soon?
My Liquidit Partner is operating in the DeFi space, meaning that it can be accessed from any part of the world
I am interested to invest in your project. When and where can I buy your tokens Is it already listed in exchanges?
Great question! We will be listed with Lbank within just 1 hour! Stay tuned $MLP
read more: https://myliquiditypartner.com
What are your major goals to archive in the next 3–4 years? Where can we see your ecosystem in this period? What are your plans to expand and gain more adoption?
We plan to introduce major verticals in the NFT and Metaverse where we will create a series of passive income NFT’s backed by our liquidity pool operation and running on our $MLP token ecosystem which is also protected by our “LP Protection Policy” which will be amazing! ))
Can you give us more information about your tokenomics like maximum supply? Where could I get it? Is it available in whitepaper?
This is a great question! So I will link our website where you can view and download our whitepaper and also see more information about the team and current stage of the project. As for tokenomics; our maximum token supply is 10 000 000 000. For a more detailed view and breakdown download the WP https://myliquiditypartner.com/wp-content/uploads/2022/06/MyLiquidityPartner-Whitepaper.pdf