Hello, Satoshi clubbers! Another AMA took place in Satoshi Club and we would like to introduce to you the AMA session with our friends from MoneyTime and our guests were @ClutchMoneyTime and @son_money. The AMA took place on 28 June.
The AMA session was divided into 3 parts with a total crypto reward pool of 500$
In this AMA Recap, we will try to summarise the most interesting points for you.
Part 1 — introduction and questions from the Telegram community
Gold Rocket | Satoshi Club: Hello again, dear community!
Today our guests are @ClutchMoneyTime @son_money!
Son Money: Hello everyone! It’s a real pleasure to be here with you today
Mary | Satoshi Club: Welcome here 👏
Clutch Money: Hi thank for having us
Gold Rocket | Satoshi Club: Hello and welcome to Satoshi Club, @ClutchMoneyTime @son_money!
Gold Rocket | Satoshi Club: How are you doing 😊
Mary | Satoshi Club: As everyone is here we can start our AMA 🚀
Gold Rocket | Satoshi Club: We are very excited about the upcoming AMA, and you?
Mary | Satoshi Club: And as usually we will start with intro 👏
Son Money:은Very well thank you! A bit Excited to share this project with you 🙂
Mary | Satoshi Club: We would like to ask you to introduce yourself and tell us more about MoneyTime 🥳
Gold Rocket | Satoshi Club: Introduce yourself please. How did you get to be involved in crypto & MoneyTime? Tell us please about your position in MoneyTime?
Clutch Money: Moneytime.finance is a yield farming platform running on Binance Smart Chain with a unique price-positive token economic design. The project is funded and created by a team originally building DeFi on Ethereum, but since 2021 has been solely shifted to Binance Smart Chain due to its promising future: True open finance for everyone, not only ETH whales.
There is a gaping hole in the BSC ecosystem for a quality yield platform that incentivizes long-term sustainability over short-term pump-n-dump mentality.
We realize that to achieve this, we need to re-think the whole yield-farming approach that usually focuses on the early hours and days of the product over the long-term.
Secondly, we need to counter-balance inflation (a necessary mechanism for yield platforms) by having users stake & hold the native token for pre-determined time periods and so reduce sell-side volatility bursts.
We wanted to create a mechanism for rewarding behaviors that contribute to the sustainability of the platform by solving the above two points, and Moneytime.finance is the product of these goals in mind.
On the surface, it‘s a yield platform like any other. But in reality, the tokenomics are set up in such a way that it will look and operate differently from the rest of the marketplace.
In short, we believe Moneytime has amazing product-market fit, that will not only be rewarding for our own users but also for Binance Smart Chain as a whole!
Gold Rocket | Satoshi Club: This is very promising👍
Mary | Satoshi Club: What about MoneyTime team? How big is it? Are you public or anonymous?😀
Clutch Money: We are mainly a team of dev from the ETH network and with the BSC ecosystem growing this fast, we are excited to launch in BSC and eventually cross chain with Polygon and ETH Network
Gold Rocket | Satoshi Club: Thanks a lot for the intro! 😃
Son Money: We are 4 founders and we prefer to stay anonymous for the moment, as most of projects here in BSC.
Clutch Money: Your welcome!
Mary | Satoshi Club: Got it😀
Gold Rocket | Satoshi Club: we will have a question selected for the Part 1. ready to start?
Clutch Money: Sure!
Q1 from Telegram user @meml97
I read that in order for MoneyTime Finance to be different, you will be implementing a new kind of mechanism you created yourself, can you tell us more about this mechanism? What is it called? How does this new mechanism exactly work and how will it help you on your purpose of re-think the whole yield-farming approach that usually focuses on the early hours and days? Also, what are the biggest advantages users will get from MoneyTime implementing this mechanism instead of any other we already know?
Son Money: Yes we did and I can say even more than a mechanism we created a whole token economic unique to itself and designed purposefully for the greater of the project in short, medium, and long term. Our mission is to a bring a safe and optimal decentralized income opportunity for user’s, without compromising the prosperity of the project, this is how we ended to create this strategy of positive price performance on top of great yield.
We solve this by rewarding LPs according to their staking length, to counter-balance inflation by incentivizing users to stake & hold the native token instead of selling. User’s stake their $TIME token for a specific length of time and cannot mint their rewards until the full time has been served. The longer the pool’s, the higher the rewards. he system has open buy-side pressure (because users buy the token to participate), but sell-side pressure keeps getting retarded and neglected.
In summary, Stakers who lock up their reward token in moneytime.finance benefit greatly, especially for longer stakes. This in turn has great impact on the price stability of the token, because it removes sell pressure and promotes longer-term holding behaviour!
Clutch Money:
TIME POOLS
Farming Pools
Staking Pools
Gold Rocket | Satoshi Club: this is a fairly original model👍
Mary | Satoshi Club: When we will be able to try this and see how it works?
Son Money: It is!!
Clutch Money: in less than 48 hours! Here’s a countdown
Gold Rocket | Satoshi Club: Your developers did a good job!
Mary | Satoshi Club: Wow! It’s near!
Thank you for your answers! Ready to proceed?😀
Clutch Money: yes!
Gold Rocket | Satoshi Club:
Q2 from Telegram User @andrey_seleznov
Hi MONEYTIME !
It is great to see that MONEYTIME takes security seriously! I know that you applied for an audit by one of the top auditors – Certik. But with your launch date being so near it is probably not realistic to expect Certic to finish the certification by then. Will this potentially affect your launch date? How do you plan to fix any issues that the audit may find if your contact is already deployed? Thank you!
Clutch Money:
The security of our project is our top priority and we chose CERTIK because of their great work. The CERTIK team did gave us a certification dead line that correspond to the date of launch. However, if there should be some delays it would be for few days only and it won’t affect launch date. We are working hands in hands with them to make this audit certified as quick as possible but we also want to make sure that it is done correctly.
Gold Rocket | Satoshi Club: Safety first👍
Mary | Satoshi Club: Did you apply only for audit or also for Certik shield?
Clutch Money: We also have rugdoc that is engaged for quick check on hard rug codes
https://leaderboard.certik.io/projects/moneytime
Gold Rocket | Satoshi Club: Please don’t forget to share with Satoshi Clubbers😉
Oh thanks😊
this is a very important point indeed.
Mary | Satoshi Club: Actually, Safe Dollar which was exploited twice was also quick checked by RugDoc…
Clutch Money: Hope the same won’t happen to us.
Mary | Satoshi Club: They marked them with high risk now, but…
I hope as well👍did you thought about any kind of insurance?😀
Clutch Money: We ran a wide range of test on our platform, we putted security on top of our development.
Mary | Satoshi Club: That’s great!
Clutch Money: Not for the moment it is a possibility we are ready to explore
Gold Rocket | Satoshi Club: Thank you for your honest answer and for a serious approach to this issue! Ready for the next question or want to add something?
Clutch Money: Ultimately we are here for the long term and we are always more than willing to put our codes to the test so that public can farm with ease and also earn their trust
Mary | Satoshi Club: Awesome 👍
Son Money: ready for next question
Q3 from Telegram user @DK177
You have mentioned about six pools of staking $TIME. According to you, these pools have been introduced with different timers to reduce sell-side preassure. Since your platform is new, users may opt for pools with short time periods with the intension of going for greater rewards of long time periods later. How can you face this kind of situation? Although the concept of time pools is fine, do you think it will practically help to reduce the selling pressure? Do you depend only on these pools or do you have possible alternatives to face a sell-off situation?
Son Money: Well first of the Time Pools are designed to be more rewarding the for the longer pools, to incite people to invest on long-term reward pools. Itself is the first guard against sell pressure, the longer you keep your $TIME or $MONEY staked and the more you earn. The system of harvest lockups is radically new so it’s to the users to decide.
Than we worked out a sustainable tokenomic to incite people to invest on long-term reward pools. We have our specially designed mechanism to prevent from sell pressure, from transaction fees, to smart token redistribution that emphases on buy back & burn and locking liquidity forever and we have the emergency burn fund to give us a tool in time of exceptional sell pressure for time when simultaneous rewards get unlock for exemple.
Clutch Money:
Time Pools
Gold Rocket | Satoshi Club: Tell us please about your tokenomics btw
Mary | Satoshi Club: So, what i will need to do to farm? First steps?
Son Money: You will need to add liquidity to earn $TIME. Then with those $TIME you will be able to stake in the Time pools to earn $MONEY
Clutch Money: Yes, in MoneyTime we have 2 tokens : $Time & $Money. $Time dont have value or trading purpose, it’s what we call a “Tool Token”. To be able to earn $MONEY reward, you need to stake $TIME token.
Stake $TIME earn $MONEY.
The token economic of MoneyTime is different from a classic farming system. Here the rewards are “delayed” to avoid excessive compound and massive sell pressure. What we call Price positive token is the results of a study of a specific token economic build on Delayed reward, BuyBack, Burn, and Smart fees redistribution.
Mary | Satoshi Club: You will always have only six pools or plan to add more?
And btw, will you have any governance system?😀
Clutch Money: We do have plans to add more we are curious to see the commnunity return about it we will consider their suggestions.
Gold Rocket | Satoshi Club: this is a good strategy! the community is the engine of the project! 👌
Son Money: When we will go Cross chain, the utility of a governance system would be clearer and we will consider implement it!
Gold Rocket | Satoshi Club: thanks a lot for the answers! ready for the next question?
Mary | Satoshi Club: We will wait for updates ☺️
Son Money: We sure are!!
Q4 fromTelegram User @surendra040
Moneytime.finance was funded initially by a team originally building Defi on Ethereum but since 2021 it has been solely shifted to BSC . What is the reason for dropping off ETH network? Since the ETH fees at current period is low will you expand your project in ETH again and other chain like polygon, solana etc. Also many BSC platform projects are lacking long term sustainability and one of the problem in BSC ecosystem is pump and dump mentality, what are the solutions that Moneytime.Finance has that it claims to be rewarding not only for users but also for BSC as a whole?
Clutch Money: We are developpers that are from ETH, but for this project we developed it completely for the Binance Smart Chain.
Our project was developped and designe solely for BSC, however, the expansion to other blockchains such as ETH, Fantom and Polygon Network is a part of our plan for the future. We want to become a reference Cross-Chain Yield farm platform.
To overcome the problem of pump and dump, we have set up a whole tokenomics designed to reward long term users along with our price positive token strategy with Delayed reward, BuyBack, Burn, and Smart fees redistribution and more.
Mary | Satoshi Club: When cross chain yield farming will be implemented?😀
Gold Rocket | Satoshi Club: By the way, please share your roadmap😊
Son Money: https://moneytime.gitbook.io/timeismoney-fi/
Here you go! 🙂
Clutch Money: We will take a decision for the last quarter of the year.
Gold Rocket | Satoshi Club: Thanks for sharing ☺️
Mary | Satoshi Club: Not so long to wait😀
Thank you for your answers! Ready to jump to the next question?
Son Money: Always!
Q5 from Telegram User @Pratze
Partnership always give big contribution to make project bigger and have great benefit for your developing project and user who participate in your platform. So your first partner is IceCreamSwap, may i know what the reason of choosing partnership with them? Because as i know there are a lot of swap BSC project out there? And what are your plan regarding new partner in near future?
Son Money: Partnership and collaboration are important for the MoneyTime team because it gives the opportunity to grow together and bring more to the DeFi space. We believe collaboration is the way to stay sustainable and become a reference in DeFi space. This is why we think that marketing and communication are important to work this is why we are working on the Airdrop Initial Program Partner : ( https://moneytime.gitbook.io/timeismoney-fi/project-overview/partnership-program-+airdrop ) .
We already have 2 partners regarding this program, IceCreamSwap and TinVille, we are still looking for partner and more are coming soon before launch. The goal with this program its too give the opportunity to others users to try the farming system with delayed reward features and bring more visibility on the project and the innovative token economic. We know users dont like Airdrop this is why, we though about a Marketing way using Airdrop but without hurting the token economic or money holders! Our marketing partnership consist of Airdrop of $Time token to others project holders so they can stake $Time to earn $Money! But here’s the thing, you can harvest your $Money reward in TimeBool by staking $TIME, but after you collect your reward’s 100% of your $TIME token are burned, so you need to go in farming pool, add liquidity and earn $TIME again!
We believe partnership are important, what we want as marketing and communication strategy its that $Money farmers can already earn others token project by staking the LP in others platform like Tinville or IceCreamswap for the moment, more partner participate to initial airdrop more platform are accesible to money farmers for earn a Token Partner! We believe the way to go its to give multiple use case to $MONEY token.
Gold Rocket | Satoshi Club: Thank you very much for such a detailed answer.👍
Mary | Satoshi Club: You will give airdrop to all your partners tokenholders or only to those, who will fill the form?
Clutch Money: Yes to official partners of our Airdrop Program
And we almost forgot to add FOXYNFT as our newest partner!
Mary | Satoshi Club: So, those who have for example GLTO tokens don’t have to do something, they will get TIME tokens as airdrop without any actions?
Congratulations 👏
Son Money: Exactly, there will be an airdrop directly to their wallet without any actions
Mary | Satoshi Club: Thank you!
That’s great 😍
Son Money: Thank you very much!
Gold Rocket | Satoshi Club: Thanks! it is very convenient👏
Q6 from Telegram User @NataliyaKil
One of the tools that MoneyTime offers its users is the Emergency Burn Fund. Is this entirely developed by the MoneyTime team? What is this tool and what is the purpose of its creation? What other unique tools does MoneyTime offer to its community?
Clutch Money: The Emergency Burn Fund is one of the tools that MoneyTime use to prevent from deflationary pressure on the token. It has been entirely developed by the MoneyTime team and for the MoneTime.Finance project.
It will be used in times where buy-side pressure is needed, for example in days where major stakes ends and big rewards are expected to be minted. This fund will then be used to market buy $MONEY and immediately burning it to offset the selling pressure.
We do this by collecting 2% from the deposit fees from LPs (only for non-$MONEY TIME POOLS) and using it to market buy-and-burn $MONEY. 🔥
https://moneytime.gitbook.io/timeismoney-fi/tokenomics/emergency-burn-fund
Son Money:
Gold Rocket | Satoshi Club: you have great infographics, I dare say 👌
Mary | Satoshi Club: So, it will start to fill from the first day of the launch?
Clutch Money: Yup from day 1
Mary | Satoshi Club: Super!
Nice system😀
Thank you for your answers, guys! Now we came close to the live part 😃
Part 2 — live questions from the Telegram community
Q1 from telegram username @Chinthaka93
HOW TO JOIN YOUR TIME AIDROP PARTNER PROGRAM? Is this still running and how can we join this airdrop?
@ClutchMoneyTime @son_money!
Son Money 은: Yes it is still running ! You can join by filling our form right here:
https://moneytime.gitbook.io/timeismoney-fi/project-overview/partnership-program-+airdrop
Q2 from telegram username @Sharaylug
What are the sophisticated techniques to optimize and amplify yields farming with MoneyTime?
Clutch Money: $Time Stakers who deposit in long term Time Pools benefit greatly. We have specially designed mechanism to incite people to invest on long-term reward pools. Then after is to the user to DYOR and come up with their personalized strategy to amplify their yields with MoneyTime.😉
Q3 from telegram username @sweetdoge
You mentioned here on AMA you have 4 founders on the project. So do you plan to add more people into the team, how to apply it?
Clutch Money: Yes and we already did hire some community manager to help us with prelaunch and we believe that we may need some more help for after launch. You can apply by asking an admin in the group if you can DM and someone shall assist you.
Q4 from telegram username @najjaka
You’ve showed pictures of MoneyTime farms. (Yield, Staking and Time farms)
I’ve seen a lot of projects with Yield and Staking farms. But never seen any with Time farms.
How Time farms work and are they better/safer to get more profit?
Son Money 은: User stake $TIME token in one of the six pool, each pool has a different timer which the user have to wait out before being able to harvest their $MONEY reward. The longer the user stakes the tool token $TIME, the greater the reward. This greatly reduces sell-side pressure and helps create a long-term viable yield platform
The social benefit of this is users who are locked-in for a specific time period are more likely to promote the token and play more active roles within the community: it’s in their own self-interest to protect their investment.
Q5 from telegram username @meml97
🧨 It caught my attention that MoneyTime has this feature called “Money Printer”, can you tell us more about it? How does this feature really work? How can users take fully advantage of it? How much fee % is charge to users when they use this MoneyPrinter? I also saw that it has a 9X multiplier reward option, how can people use it? Are there any risks associated with the used of this feature if it’s not done with caution? @ClutchMoneyTime @son_money
Clutch Money:
Yes! the MoneyPrinter Pools is a very innovative Staking section of our project.
In the MoneyPrinter Pools you can stake $MONEY to earn more $MONEY .
$MONEY Reward locked for the first 72h,
if a user Withdraw before 72h in the MONEY PRINTER, 5% fee is charged on the withdrawal to be burned & No $MONEY rewards are minted .
The MoneyPrinter Pools have a 9X Multiplier reward, giving it a better APY than other Staking Pools.
Q6 from telegram username @Rakshitx5
Hey @ClutchMoneyTime @son_money
There are already many staking pools in the market. Why Investors should choose your pool? Which feature Money.Time provides that others don’t?
Clutch Money: Yes indeed, and there are new project launching left and right every week, often copy+Paste yield farms with no regard to the benefit of the users. Bad token economics cause projects to be abandoned very early on, with only a few early users and developers profiting from the scheme.
The native reward tokens get harvested as quickly as possible and immediately dumped on the open market, accelerating the token’s value towards zero.
We aim to solve this issue, to do this, we need to counter-balance inflation by incentivizing users to stake & hold the native token instead of selling. We solve this by rewarding LPs according to their staking length – they commit to stake their $TIME token for a specific length of time and cannot mint their rewards until the full time has been served.
MoneyTime.Finance is designed with one purpose in mind: to create positive price performance on top of great yield.
Q7 from telegram username @Aquamend
Sir,
According to your roadmap, there are less than 3 days for the launch. It is a great plessure to know you are going for a technical audit and an economic audit. The problem is, official results of these audits were not announced yet. In this situation my question is : Did you complete the audits and waiting for the results? Will you be able to get them within remaining 3 days? Or are you just planning to go for the said audits in the future? When and where will these audit reports be available? Until the availability of these records, how can we trust you and invest in $MONEY?
Son Money 은: CERTIK gave us a certification dead line that correspond to the date of launch. We are doing everything that is in our power to get this certification done as quick as possible
Q8 from telegram username @shone1994
do you think icecreamswap is easier than pancake swap to your network bsc?
Clutch Money: Great question, we actually had some more collaboration and closeness to the team of IceCream Swap than we think we would’ve had with PancakeSwap for exemple. They helped us also with their larger experience on BSC than we had at the time of the development of the project witch ended to be really useful help for us.
Q9 from telegram username @cindy_crypto
In order to allow true open finance for everyone what do you think of centralized built of Binance Smart Chain? Do you plan to move another blockchain like Ethereum in the future?
Clutch Money: Yes we do plan to develop cross chain we already have Polygon Network and ETH in sight and we are open to consider development on Fantom and Layer 2. Decision will be made for the last quarter of the year, but for the first month’s of MoneyTime.Finance, the project will only be available on BSC!
Q10 from telegram username @afmfmff
💥Have you developed or are you planning to develop a program for ambassadors so that your project can attract more people????
Son Money 은: Yes we are actually seeking for influencers on many social medias like youtube and twitter because we want to put the emphasis on our community support.
Support to the commmunity is such an important aspect often overviewed by most of project. Like we were saying earlier Defi is such a new environment that it is only normal that a lot of users and newcomers are not totally familiar to yield farming and staking opportunities. It sometimes feel’s like the Far West out there.
We are also aware of the tight complexity of MoneyTime’s tokenomic and functionalities, so we think it is important to give new and experiences users intuitive visual’s and tutorial to help them understand how to use and what are the benefit of MoneyTime.Finance and also to the whole bsc ecosystem overall. We will have a set of tutorials ready for the prelaunch and then we will publish some visual’s like short videos/anime, explanatory pictures and other content to publish around diverse the social media to reach a large audience and offer them clever content.
Part 3 – Quiz Results
As usual, for the third part, Satoshi Club Team asked the chat 4 questions about the crypto project. A link to a Quiz form was sent into the chat.
For more information and future AMAs, join our Social Media channels:
English Telegram group: https://t.me/Satoshi_club/
Russian Telegram group: https://t.me/satoshi_club_ru/
Spanish Telegram group: https://t.me/satoshi_club_spanish/
Chinese Telegram group: https://t.me/satoshi_club_cn/
Indonesian Telegram group: https://t.me/satoshi_club_indonesia/
Telegram Channel: https://t.me/satoshi_club_channel/
Twitter: https://twitter.com/realsatoshiclub/
Website: https://esatoshi.club/
Our partners:
Telegram: https://t.me/MoneyTimeFinance
Twitter: https://twitter.com/MoneyTimeBSC
