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HomeAMA RecapRECAP AMA IDCRYPTO X CRUDEOIL FINANCE

RECAP AMA IDCRYPTO X CRUDEOIL FINANCE

Speaker : Crudeoil Finance Team
Date : Thursday, February 18th, 2021
THERE IS 3 SESSION FOR AMA

  1. INTRODUCTION
  2. QUESTION FROM TWTITTER
  3. FREE ASKING

SESSION 1 (INTRODUCTION)

IDCRYPTO:
hi pyro_crudeoil wellcome to our community

Pyro Crudeoil Finance:
Hey guys!! Hope everyone is having a wonderful day. Extremely happy to be here.

IDCRYPTO:
Please introduce yourself and tell how you started a crypto business to the idcrypto community !?
@pyro_crudeoil And @Crudeoilchef

Pyro Crudeoil Finance:
My name is pyro and I am one of the cofounders of Crudeoil Finance and my colleague is crudeoil chef . We have been in the crypto space since 2013. Been through everything, up and downs.
First of all, I would like to thank IDCRYPTO admins for arranging this AMA. This is the very first AMA we attend. And many more are lined up down the pipeline.
And Second, when we were pondering and formulating our marketing strategy, one of your admins reached out to us and asked for a possible collaboration (we get tons of AMA requests everyday BTW) and Jasmin (She is in charge of marketing and community development) informed me to check this unique group. We went through a few recently concluded AMAs and were really impressed by the way you guys handle the AMAs and give projects a good exposure to the crypto community. Hence, we decided to kick start our AMA series with ya all wonderful people.

IDCRYPTO:
Sounds impressive, thank you for choosing our community to introduce us more about crudeoil.
And the next,can you please explain what is Crudeoil!?

Pyro Crudeoil Finance:
Crudeoil Finance is a next generation deflationary farming platform and yield aggregator/optimizer built on Binance Smart Chain #BSC.
AMBITION
Cryptocurrency is the new global economic revolution built to diminish traditional economic monopoly built around fiat currency. Inflation is the main concern as far as fiat currency is concerned. Hence, we decided to go against it and build a deflation currency on top of Binance smart chain network. This is just a DEFI experiment built by a bunch of crypto geeks and We built for the community. We would love to see how the community is gonna embrace this. How the community reacts to a deflating currency.
Moreover, Traditional staking gigs require an infinite supply. New tokens need to be minted in order to keep the users staking. This “inflationary staking” causes a lot of sell pressure, and diminishes the value of the token. This is where Crudeoil Finance comes into play. Once the total supply 100,000 OIL is minted, No new tokens will ever be minted again. In fact Total supply will keep reducing. There is a burn for every transfer, that is gone forever.
Holders will have a chance to Stake/Farm Binance smart chain assets (BEP20) and get staking/farming rewards from OIL tokens.
Furthermore we have huge plans to build a comprehensive ecosystem around Crudeoil finance and contribute to the binance smart chain ECOsystem. Staking platform is the first step towards it. AMA swap, yield farming aggregator, NFT marketplace, Launchpad are few among many goals we planned for the future developments.

IDCRYPTO:
Sounds good.
Can you share with the community what Crudeoil has been doing since its launch?

Pyro Crudeoil Finance:
We have started our development later Q4 2020/ Early Q1 2021, Frankly the initial idea was to build on Ethereum and contribute to its ECO System. As you all know and aware, Gas price is killing ETH dapps at the moment. Therefore we shifted to Binance smart chain. Faster transactions with peanut fees. Recently BSC got a huge boom and many projects are shifting and at least considering shifting to BSC. We think BSC will have a great future and we can get a lot of benefits from it.
The staking platform has already been developed fully. Initially we will launch OIL/BNB, OIL/BUSD and OIL staking options. Few projects approached us showing interest collaborating with us so more staking options will be added in the future.
Currently we are working on the architecture of yield aggregator/optimizer. Our product will be quite different to the ones already running on the market. Development will soon to be started and we have plans to complete it within this quarter (Q1 2021).
Here is a brief road map (which is available on our pitch deck and gitbook) for a better comprehension of our development timeline.

Pitch Deck and Blog

IDCRYPTO:
thank you for the introduction, I hope the community understands what you explain.
Nice to know about your project, I am very supportive of projects that run on top of the BSC.
It will be cheaper in terms of gas fees.

Pyro Crudeoil Finance:
Indeed. Binance smart chain is still a baby. long way to go.

SESSION 2 (QUESTON FROM TWITTER)

IDCRYPTO:

  1. On this day etherium blockchain make more and more expensive fee. It make some project can’t survive and make them move to bsc Blockchain. Now what i worry is so many fake project come to bsc just make rugpull and they disapear. What your solution to make investor trust you ?
    @nainainiainai

Pyro Crudeoil Finance:
This is such an important question nowadays since we are getting more and more crypto enthusiasts joining our crypt journey everyday. Inevitably scams and shams also get increased along with. As crypto traders/investors you should be extremely careful when you invest in a particular project. Always do a comprehensive research and DD (due diligence) before jumping the gun.
We have been working extremely hard and trying to deliver the product to the community. Let me tell you why you can trust us and expect nothing but the commitment from our team towards the project.

  • If you go to our documentation, you may see the work we put into writing the documents and even the blog posts. Everything’s prepared in a meticulous and organized manner. I dont think if someone wants to rugpull. They would spend so much time on those types of things.
  • We have approached a few BSC OGs in the space such as Chonk Gangsta, BSC Pleb and KDOT. They did a thorough research on us and the project. We spent hours explaining it to them. Eventually they invested in our private sale. I don’t think industry’s prominent figures like them would ever invest in a scammy looking project now would they? You guys are free to approach them and ask about it.
  • We are in touch with few leading smart contract auditing companies in the space. I have already shared the email communication and quotation with our community. Audits take time and it will be done within the next few days. Ideally we want the audit to be completed before the staking platform launch.
  • We are extremely active in the group. We do not ban members unless they come up with a constructive criticism with facts to back it. We are there to answer any question you may have.
  • We will implement a timelock contract soon after the staking contract is deployed. Ideally 24-48h so any changes in the code will be effective after the specified time. If we are to commit a rug pull or anything in such nature. Community can identify it and drain the liquidity from the platform well beforehand.
    I tip my hat to the person who asked this question. Amazing
    You guys got a very good community with keen observers.

IDCRYPTO:
Very detailed explanation, you are very excited.
Thanks.

  1. new swap site But what the different with other ? I mean there was so many project out there make their swap too. But nothing different from the other. Can you explain what the best part make your crudeoil unique ? And what your new plan if that part already other project have ?
    @himo_umaru

Pyro Crudeoil Finance:
Another awesome question from himo_umaru.
There are so many copycats floating around. It’s as easy as A B C to just copy an existing swap AMM/farm and launch it like it’s your own. You just need to change the names , colors and the logo.
Here is why we are different. We are building everything from the scratch. Our products will be extremely unique. We have our own UIUX designers and blockchain developers with wealth of experience to pull that off. Our protocols will be different to the existing products with plenty of value adding features.

IDCRYPTO:

  1. From an investor’s perspective, is DeFi worth our attention and profit in the future? And why should I invest in Crudeoil Finance ?
    @nguyennhu2908

Pyro Crudeoil Finance:
Frack sirs!! you are on fire. These are top notch questions!!!
Decentralized finance will be a thing to reckon with. If you understand what DEFI is trying to achieve, you will be amazed. Current centralized counterparts are infected with censorship and unfair advantages to the centralized governing bodies. We want every current financial infrastructures to be decentralized. World has been slowly catching up to the idea. You guys can see that giants like Elon Musk have plenty of interest in crypto and it will be a matter of time before he and others realize the importance of DEFI.
As far as I am concerned this is just the beginning of DEFI. we have a long way to go. I think we will hit 1 Trillion in DEFI TVL in the near future. I saw pancake hit 1.5 billion in TVL recently which is crazy. Hence it doesn’t matter you got competition. With the growing interest in DEFI and more and more volume flowing into it. We are in need of more solid/rigid defi infrastructures. We are trying to be one of them obviously.

IDCRYPTO:
I totally agree with your explanation, from the time bitcoin first appeared, changing the current government financial system. I hope that your ambitious project will be well accomplished.

  1. how will the profit of staking oil be calculated? I still don’t see what% the profit will be.
    @duddles16

Pyro Crudeoil Finance:
Staking contracts will be opened to the public as soon as the audits are completed (along with the audit reports) We have around 60-65% of total supply dedicated towards staking rewards. Mind you, we won’t have crazy APY/APRs like the many scammy staking platforms. Nevertheless, the APYs/APRs will be decent and attractive. We want a sustained growth of our platform while pleasing the users.
APYs/APRs will be visible once the platform is live.

IDCRYPTO:
Sometimes a big apy will come at a very fast rate, come and end a rugpull.

Pyro Crudeoil Finance:
Exactly, we don’t want that. Our growth will be slow and steady. but you know slow and steady always wins the race.

IDCRYPTO:
Yes that’s right, and even a slow ride would be better in the actual process.

  1. To assess the legitimacy of a project, several partnerships are needed. Does crudeoil currently have a partnership? recently made plans for a partnership.
    @Rojy35467198

Pyro Crudeoil Finance:
Indeed, we have few partnerships lined up. We will reveal all the details when everything’s set stone and negotiated. Plus we have kicked off our marketing campaign. Few press releases on the way including a bsc.news, one which can be considered as the premium news outlet in the bsc space. Stay tuned.

IDCRYPTO:
Glad to hear all your detailed and passionate answers.
Thank you for all the explanations in the second session.
I hope our community understands your explanation.

Pyro Crudeoil Finance:
I hope they got everything. If anyone wants to have something clarified. I am always around. Join our groups and ask away.

IDCRYPTO:
Yes everyone can join here.
Crudeoilfinance

SESSION 3 (FREE ASKING)

Elizabeth Ella :
What is the most outstanding technology that Crudeoil Finance is currently applying? Is Crudeoil Finance afraid that in the future there will be competitors who will surpass Crudeoil Finance ‘s technology?

Crudeoil Chef:
Our technology is unique and we cannot reveal at the moment, and we are not afraid of competitors, apparently we need competitors on this space to move forward things such as innovation to put on on the table.

Rabbani:
Crudeoil Finance announced that they will hold a presale. My question is, when did you start presale? Can you explain the details of the presale? What benefits will investors get if they join the Crudeoil Finance presale? And what do you do if there are unsold tokens?

Pyro Crudeoil Finance:
Our presale will start in 1hour (1PM UTC) more details can be found here.


Crudeoil finance pre Sale contribution Guide (Starts at 18/02/2021 at 1:00PM UTC).
Here is a brief article explaining how the users can contribute to the crudeoil pre-sale.

KYL To Da Moon:
What is the release schedule of tokens? What jurisdictions are eligible to participate in the sale?

Pyro Crudeoil Finance:
You can participate from anywhere. Its decentralized world remember? all the presale pvt sale tokens will be unlocked.

Freites:
Q: Crudeoil has plans to hire a couple of community managers to manage its Telegram group and keep it active. What are the requirements needed to be the CM that Crudeoil is looking for? What benefits will being a community booster bring in return?

Pyro Crudeoil Finance:
We have plans to hire couple of community managers for handling our telegram group and keep it active. If you are interested.if you are nterested, please register.

UP:
What is your top 3 things for priorities in 2021? Could you share some plans for the upcoming year?

Crudeoil Chef:
Unique AMM, build a bridge between ETH / BSC & yield aggregator/optimizer.

Tara Deina:
Low liquidity is one of the main problems with the DeFi, Project what are you going to do about it? Does #Crudeoil Finance have a liquidity provider program? What benefits for liquidity providers?

Pyro Crudeoil Finance:
This is a great question. Our staking platform will issue rewards to those who stake LP on it.

Tara Deina:
community is an important asset to any project. How are #Crudeoil going to educate us that the project you are offering is long term? and do you have the funds and a strong team to be able to develop this project in the future?

Pyro Crudeoil Finance:
This is an excellent question. community is the back bone of any project. If someone says not he/sho would be lying. We want to expand our communities and educate them. That’s why we decided to do the AMA series. Plus we have plans to create local communities and host more community engagement programs more details will be given later.

MORE DETAIL ABOUT CRUDEOIL FINANCE

Website
Medium
Twitter
Telegram

Oezankhttps://idcryp.to
Oezank is a Crypto Influencer who has more than 2 years of experience observing Crypto projects and strongly believes in blockchain technology in Indonesia.
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