{"id":3591,"date":"2020-11-28T03:28:01","date_gmt":"2020-11-28T01:28:01","guid":{"rendered":"https:\/\/esatoshi.club\/?p=3591"},"modified":"2020-11-28T03:28:06","modified_gmt":"2020-11-28T01:28:06","slug":"bundles-finance-x-satoshi-club-ama-recap-from-25th-of-november","status":"publish","type":"post","link":"https:\/\/satoshi-club.esipick.com\/index.php\/2020\/11\/28\/bundles-finance-x-satoshi-club-ama-recap-from-25th-of-november\/","title":{"rendered":"Bundles Finance x Satoshi Club AMA Recap from 25th of November"},"content":{"rendered":"\n

When we think about markets of perfect competition, cryptocurrencies always come to our mind, we can find an immense number of projects willing to satisfy the needs of the growing number of investors. So, today we are glad to tell you about the AMA session with our friends from Bundles Finance<\/a>. The AMA took place on November 25 and our honorable guest was @BundlesFinance<\/a>.<\/p>\n\n\n\n

The total reward pool was 200 BUND and\nwas divided into three parts. In this AMA Recap we will try to summarize some\nof the most interesting points for you.<\/p>\n\n\n\n

\n\n\n\n

PART 1, INTRODUCTION AND COMMUNITY QUESTIONS<\/strong><\/p>\n\n\n\n

Mary |\nSatoshi Club: <\/strong>Hello, Satoshi Club! We are happy to announce our AMA session with\nBundles Finance! Welcome to Satoshi Club 😀<\/p>\n\n\n\n

D. | Satoshi Club: <\/strong>@BundlesFinance<\/a> how is it going? 😊<\/p>\n\n\n\n

BundlesFinance:<\/strong> Thanks\nyou for having me. This is Simon from Bundles. A little nervous but very\nexcited to be here!<\/p>\n\n\n\n

Mary |\nSatoshi Club: <\/strong>Everything is great and let’s start with your intro @BundlesFinance<\/a> 😃 and of\ncourse tell us more about your project!<\/p>\n\n\n\n

BundlesFinance: <\/strong>Bundles\nis a new way of earning APY with a fixed supply and involves using your crypto\nprediction skills to compete against other users to earn more $BUND. We just\nlaunched our platform 2 days ago and it’s gone well (although a few bugs still\nto be fixed with the UI)<\/p>\n\n\n\n

This was just the first pool we launched and we have many\nmore themes of reward and time periods to introduce. If you are really good at\npredicting, you can earn an APY of nearly 800%<\/p>\n\n\n\n

Mary |\nSatoshi Club: <\/strong>It’s great) we can earn by predicting?) Does it mean if I am bad\npredictor I will lose? Or I simple won’t have profit?)<\/p>\n\n\n\n

BundlesFinance: <\/strong>If\nyou are a bad predictor, there is a chance that you could lose some of your\nstake. We run real time leaderboards and relative positioning so you can see\nhow you are doing throughout the staking period. Our leader at the moment has\nachieved a 26% portfolio improvement in just over 36 hours.<\/p>\n\n\n\n

Q1 from Telegram user\n@crypto_propeller<\/strong><\/p>\n\n\n\n

It has become an\nexception to see projects that talk about team members. Kudos for that, it\nbrings more trust to the project. There are still things that could be done\nbetter when speaking about team presentations. You have written text about it,\nbut do you plan to share more accounts of the founders or other verifiable\nsources of information about them?<\/em><\/p>\n\n\n\n

BundlesFinance:<\/strong>Yes, we do. It’s just been a whirlwind\nof a past month and now we have a little time we can work on things like that.\nSid and I met 8 years ago and have been working on a crypto project called\nElevate Health which was fortunate to get a lot of VC backing. With COVID we\nhad to hold our pilot projects as they were international so we had the idea of\nBundles! And here we are! <\/p>\n\n\n\n

I do think a public team is very important. It gives\naccountability to investors. We aren’t Rockstars but we have been working in\nthe crypto sphere for a number of years and know it well. We’ll update our\nprofiles etc but it’s pretty east to find me on Twitter, I was one of the first\nBundles followers!<\/p>\n\n\n\n

Mary |\nSatoshi Club: <\/strong>May be you can share a link here, so everyone will be able to\nfind?<\/p>\n\n\n\n

BundlesFinance:<\/strong> Sid\nand I run the project, Sid id more technical, myself more community facing. In\naddition we have a team of DEVS, 2 full time and then another 4 at times of\nheavy work. We also have a marketing person and our TG admins. @BundlesFinance<\/a> @SimonLewis8888<\/a>, I live in Asia… hence\nthe 8888!<\/p>\n\n\n\n

The rest of the team are also in Asia, we have worked\ntogether for a few years now so we have a good relationship… athough the past\n36 hours were a little fraught.<\/p>\n\n\n\n

Q2 from Telegram user\n@malidonald<\/strong><\/p>\n\n\n\n

Your website is clear\nand simple, but still looks like work in progress. Especially the “Hall of\nfame” section strikes with emptiness. Can you tell us what information\nwill you have there?<\/em><\/p>\n\n\n\n

BundlesFinance:<\/strong> The\nHall of Fame will show the winners from each pool. Because our first pool\ndoesn’t end for 5 days, we haven’t had a winner yet. In the next weeks, that\nwill fill up as our winners get their usernames immortalised in the Hall of\nFame. As the pools end, this will fill up with usernames and their avatars.<\/p>\n\n\n\n

D. | Satoshi Club: <\/strong>Do\nyou plan to add something else on your website? any new sections?<\/p>\n\n\n\n

BundlesFinance: <\/strong>Yes,\nwe will add more staking pools with different reward structures and times of\nstaking. Then, our big development is to open pools for other ERC20 tokens to\nparticipate in their own pools. BUND holders will receive fees for opening the\nplatform to other token holders. It could be particularly exciting for tokens\nwho may have lost some impetus and we can bring some life back to them.<\/p>\n\n\n\n

Q3 from Telegram user\n@isd_orban<\/strong><\/p>\n\n\n\n

Bundles staking\nplatform launched on 23rd of November at 10am UTC. Can you please tell us how\nit works? Is it simple as using uniswap or is it something different? Please\nshare a guide.<\/em><\/p>\n\n\n\n

BundlesFinance: <\/strong>Users\nconnect their wallets. They then choose the amount of BUND they would like to\nstake on that pool. They then choose the Bundle (yes, that’s where the name\ncame from) of currencies they would like to choose, the performance of this is\nmeasured and they then get a relative token position ranking that will\ndetermine payouts at the end of the pool. You can see a how to stake guide the\nsite by clicking through to the Medium articles.<\/p>\n\n\n\n

https:\/\/medium.com\/@bundles.finance\/staking-guide-how-to-stake-your-bund-on-bundles-finance-37cb2eea1aca<\/a><\/p>\n\n\n\n

Note that the current pool is closed but the next one iopens\nin the next few days.<\/p>\n\n\n\n

D. | Satoshi Club: <\/strong>I can only connect metamask, as I see?<\/p>\n\n\n\n

BundlesFinance:<\/strong> Yes, it’s on the site. 5 days and 8 hours till the\nnext pool opens, other wallets and mobile walletconnect comes this coming pool.<\/p>\n\n\n\n

It’s a totally new concept in the\nspace so has taken time to develop and build. We are not just a clone of other\nconcepts so it will develop over the coming weeks.<\/p>\n\n\n\n

Q4 from Telegram user @blockmen<\/strong><\/p>\n\n\n\n

You recommend not using more than 3 currencies on your Bundle in order\nto make it more safe and less complicated. Why is that? Also, please mention it\non the website as well because people who don’t read your medium will not know\nabout that<\/em><\/p>\n\n\n\n

BundlesFinance: <\/strong>Good question. That is a short term recommendation\nas we will reduce the number of wallet approvals required to stake. As\neverything is recorded onchain in terms of your choices, there are 1 too many\napprovals required which will be fixed by the next pool. We are already testing\nthe streamlined workflow. Then users can choose as many currencies as they like\nin their Bundle!<\/p>\n\n\n\n

Mary\n| Satoshi Club: <\/strong>Got it) so, you still in testing phase on some\nfeatures, right?<\/p>\n\n\n\n

BundlesFinance: <\/strong>Yes, we wanted to provide some confidence to\ninvestors that the product worked. But we will really develop over the coming\nweeks. We prefer to see this as a Mainnet Beta platform. But staking has been\nstrong with more users than we anticipated. It bodes well for the future.<\/p>\n\n\n\n

D. | Satoshi Club: <\/strong>Have you plans in the future to connect project\nwith other blockchains somehow?<\/p>\n\n\n\n

BundlesFinance: <\/strong>Currently, we want to concentrate on Ethereum and pools\nfor ERC20 tokens. That in itself is a great platform. But down the line, as\nother chains gain adoption, it is certainly a possibility. But honestly, it’s\nnot in our roadmap for the time being.<\/p>\n\n\n\n

Q5 from Telegram user @ivancryptoz<\/strong><\/p>\n\n\n\n

In an article on your medium account from Nov 13, I see that some of\nyour smart contracts are still on the test net. Can you give us an update\nregarding the progress with this? Were they launched on the main net? If yes,\ndid you have any issues with it?<\/em><\/p>\n\n\n\n

BundlesFinance: <\/strong>Good\nquestion again. We took the precaution of having our audit done before we\nlaunched. As there are so many rug pulls in the DEFI space at the moment, we\nwanted to give investors\u2019 confidence in the platform. So the contracts were\naudited in testnet. We launched on the mainnet as our platform went live. Were\nthere any issues? A few! WE were about 8 hours later than we thought on launch.\nBut considering how some projects are months behind, we feel we did a good Job!<\/p>\n\n\n\n

Mary |\nSatoshi Club: <\/strong>Yes, great! And now my favorite question about audit😂 can you\ngive a link to it?<\/p>\n\n\n\n

BundlesFinance: <\/strong>https:\/\/solidity.finance\/audits\/BUND\/<\/a>\nThere you go! BTW Solidity Finance are a great auditor. Tough but very\nresponsive.<\/p>\n\n\n\n

Mary |\nSatoshi Club:<\/strong> Did they have any issues with projects they audited\nbefore? Do you know? Because, as you know, even projects audited by Certik are\nnot 100% safe.<\/p>\n\n\n\n

D. | Satoshi Club: <\/strong>Yeah,\nmaybe just need more audits? for example, i’ve heard that 1inch (dex exchange)\ncontract passed 11 audits.<\/p>\n\n\n\n

BundlesFinance: <\/strong>Indeed.\nThis is a very developing field and as such things are always progressing. We\nwere recommended them by several people and took their recommendations on board\nand oir experience was positive. Although it was long in terms of information\nrequired.<\/p>\n\n\n\n

Because I have been so engrossed in Bundles over the last\nmonth, I am unaware of the 1inch scenario. But yes, I agree with the point that\nmultiple audits on a regular basis is a good idea and one will be enact.<\/p>\n\n\n\n

Mary |\nSatoshi Club: <\/strong>Yes, hackers are very inventive now, so you have to be sure in\nyour contracts security. Btw, if something will go wrong do you have any\ninsurance fund or something like this?<\/p>\n\n\n\n

BundlesFinance: <\/strong>Thank\nyou. We are in the process of a bug bounty promotion. In the platform, it is\nonly BUND that is staked so for the time being, we have enough BUND to offer a\nlike for like replacement on the amount staked. But an insurance fund is being discussed.\nWe are working with a LoL broker (Lloyds of London rather than LOL!) broker on\nthis point currently.<\/p>\n\n\n\n

Q6 from Telegram user\n@filippsubzero<\/strong><\/p>\n\n\n\n

Because of the fees on\nethereum, the team will send $5 of Ethereum to everyone who stakes the first\nweek. This is awesome. You are the first project to do that or at least it is\nthe first time I hear it. It is very nice from you to help the community do\nthat. But I thought of 1 thing: What if users will just ask for 5$ with\nmultiple accounts and get away with this money? Do you have a measure for this\ncase?<\/em><\/p>\n\n\n\n

BundlesFinance: <\/strong>Thank\nyou. We were unhappy that users had one too many approvals and wanted to bear\nthat responsibility. We will only pay stakers who have staked on the platform\nthat week so there would be no financial incentive to request multiple wallets\nas they would pay an equal amount of gas fees. I like this question, someone\nhas done their research. Well done.<\/p>\n\n\n\n

\n\n\n\n

PART 2, TELEGRAM COMMUNITY LIVE\nQUESTIONS<\/strong><\/p>\n\n\n\n

The\nchat was open for 80 seconds; a lot of questions were posted by Satoshi Club\ncommunity. Our guest chose some of them. <\/p>\n\n\n\n

Q1 from Telegram User @supper_star_2<\/strong><\/p>\n\n\n\n

Every projector has a special\naspect.  If you have anything like that,\nwhat is it?<\/em><\/p>\n\n\n\n

BundlesFinance: <\/strong>Thanks\nfor the question. I think that a platform has to have a special USP as you\nsuggested. Ours is the competitive element that we bring to staking. DEFI is\nvery competitive and bringing that into one platform should be very engaging\nfor people.<\/strong><\/p>\n\n\n\n

Q2 from Telegram User @Mgl800<\/strong><\/p>\n\n\n\n

If I want Bund tokens, where can I\nbuy them? What exchange are they listed on and where could they be in the long\nterm?<\/em><\/p>\n\n\n\n

BundlesFinance: <\/strong>Thanks\nMiguele. We are currently on Uniswap but more exchanges are coming. Watch this\nspace. Price wise I don’t think I should comment specically but we do aim to be\na staking mainstay.<\/strong><\/p>\n\n\n\n

Q3 from Telegram User @Pannicota<\/strong><\/p>\n\n\n\n

Many DEFI projects seem to have a BIG\nPROBLEM that when farming\/staking or liquidity farming started, the price goes\ndown slowly because people unload to put liquidity into the farm, collect and\njust dump it, no hope for LONG TERM. Will $BUNDLES have an incentive for users\nto hold and not just farming\/staking and dump?<\/em><\/p>\n\n\n\n

BundlesFinance<\/strong>: Thank\nyou for the question. I was hoping someone would ask this! The difference with\nBundles is that we have a fixed supply, so we aren’t just minting tokens that\ncan be dumped as supply increases. Our supply will never go above our current\nmax supply of 97, 120.<\/strong><\/p>\n\n\n\n

Q4 from Telegram User @lembaranfotohitamputih<\/strong><\/p>\n\n\n\n

Is KYC needed to use your platform?\nWhat for the people that can\u2019t submit documents for KYC?<\/em><\/p>\n\n\n\n

BundlesFinance: <\/strong>We\ndon’t require KYC. We are a DEFI platform so that defeat the object of being\ndecentralised. You just need a wallet. We do ask for a username to populate the\nleader boards but dont user your real name.<\/strong><\/p>\n\n\n\n

Q5 from Telegram User @CryptoZaratustra<\/strong><\/p>\n\n\n\n

What is LEADERBOARD on your site for?\nWhich users can get to LEADERBOARD? What are the benefits?<\/em><\/p>\n\n\n\n

BundlesFinance: <\/strong>Thanks\nIvan. The leader board is used to bring a competitive element to the staking.\nIf you chooe a well performing Bundle, you will appear on the leaderboard. If\nyou win you will be immortalised on our Hall of Fame!<\/strong><\/p>\n\n\n\n

Q6 from Telegram User @AmirJosh<\/strong><\/p>\n\n\n\n

So if my Bundle lands at 4-7 place\nout of the 10 coins, I still can recieve more $BUND even if I have negative\nperformance? If example, my 3 chosen cryptos lands at #1, #6, and #10\nrespectively, do I have a chance to outscore the Bundle that chose #4, #5, and\n#6?<\/em><\/p>\n\n\n\n

BundlesFinance: <\/strong>Hi\nJacob. Good question. As we are a totally new concept, it can take a while to\nget the idea! It took me a few days! We measure the performance of all the\ncurrencies in one Bundle. So it’s your overall performance rather than each\nindividual coin. We measure your % portfolio improvement over the staking\nperiod.<\/strong><\/p>\n\n\n\n

Q7 from Telegram User @AmirJosh<\/strong><\/p>\n\n\n\n

It is funny reading one of your\nmedium article that place humans slightly lower than a goldfish when it comes\nto attention span. Well, there are so many crypto projects especially DeFi that\ncreated everyday. For now, the attention is in $BUND \/ Bundles Finance, but\nwhen other projects start copying your platform it will not be unique anymore.\nWhat are your plans to make Bundle stay relevant and exciting in this field for\na long time?<\/em><\/p>\n\n\n\n

BundlesFinance:<\/strong> You\nagain! You ask some good questions! It’s actually true that because of tech\nthat human\u2019s attention span is dropping rapidly… I think we will be copied as\nit’s a great concept (if I may say so). But I believe that the original concept\nand team has an advantage when other projects copy them. I already heard that\nthere is a project launching with a similar concept. I welcome that as it shows\nwe have done it right.<\/p>\n\n\n\n

Q8 from Telegram User @ShaLiPon<\/strong><\/p>\n\n\n\n

Since platform has just launched 2\ndays ago, what are these few bugs you encountered? What solutions you made to\novercome these bugs?<\/em><\/p>\n\n\n\n

BundlesFinance: <\/strong>Good\nquestion. We have had several offers to list on a CEX. We will be following\nthrough with them and yes, in answer, we will be listing on a CEX soon.<\/strong><\/p>\n\n\n\n

Q9 from Telegram User @Rebel99<\/strong><\/p>\n\n\n\n

I understand that staking on a Bundle\nis sort of like predicting and betting on a cryptocurrency appreciating in\nprize. What happens if my selected bundle isn’t amongst the top gainers? Would\nI lose all my $BUND?<\/em><\/p>\n\n\n\n

BundlesFinance: <\/strong>Thanks\nRebel. You wouldn’t lose all your funds. The max you can lose is 4% of your\nfunds. But we recommend using research to choose your bundle beforehand.<\/strong><\/p>\n\n\n\n

Q10 from Telegram User @Sheriff_100<\/strong><\/p>\n\n\n\n

You talked about LOL doing an\nInsurance FUND. CAN YOU ELABORATE?<\/em><\/p>\n\n\n\n

BundlesFinance: <\/strong>Hi\nthere. Lloyds of London brokers are brokers that innovate insurance products\nand divert the risk through others. We are using Paragon to find our solution.<\/p>\n\n\n\n

\n\n\n\n

PART 3, QUIZ AND INFO<\/strong><\/p>\n\n\n\n

As usual, for the third part, Satoshi Club Team asked the chat 4 questions about Bundles Finance. A link to a Quiz form was sent into the chat. Participants had 10 minutes to answer. 140 BUND were distributed between the winners. <\/p>\n\n\n\n

For more information and future AMAs, join our Social Media\nchannels: <\/strong><\/p>\n\n\n\n

English Telegram\ngroup: https:\/\/t.me\/Satoshi_club<\/a>\n<\/p>\n\n\n\n

Russian Telegram\ngroup: https:\/\/t.me\/satoshi_club_ru<\/a>\n<\/p>\n\n\n\n

Spanish Telegram\ngroup: https:\/\/t.me\/satoshi_club_spanish<\/a>\n<\/p>\n\n\n\n

Telegram Channel:\nhttps:\/\/t.me\/satoshi_club_channel<\/a>\n<\/p>\n\n\n\n

Website: https:\/\/esatoshi.club\/<\/a><\/p>\n\n\n\n

Twitter:\nhttps:\/\/twitter.com\/esatoshiclub<\/a>  <\/p>\n\n\n\n

Our Partners: <\/strong>\n\nBundlesFinance \u2013 Discussion: https:\/\/t.me\/BundlesFinanceDiscussion<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

When we think about markets of perfect competition, cryptocurrencies always come to our mind, we can find an immense number of projects willing to satisfy the needs of the growing number of investors. So, today we are glad to tell you about the AMA session with our friends from Bundles Finance. The AMA took place […]<\/p>\n","protected":false},"author":4,"featured_media":3592,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[],"tags":[],"_links":{"self":[{"href":"https:\/\/satoshi-club.esipick.com\/index.php\/wp-json\/wp\/v2\/posts\/3591"}],"collection":[{"href":"https:\/\/satoshi-club.esipick.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/satoshi-club.esipick.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/satoshi-club.esipick.com\/index.php\/wp-json\/wp\/v2\/users\/4"}],"replies":[{"embeddable":true,"href":"https:\/\/satoshi-club.esipick.com\/index.php\/wp-json\/wp\/v2\/comments?post=3591"}],"version-history":[{"count":1,"href":"https:\/\/satoshi-club.esipick.com\/index.php\/wp-json\/wp\/v2\/posts\/3591\/revisions"}],"predecessor-version":[{"id":3594,"href":"https:\/\/satoshi-club.esipick.com\/index.php\/wp-json\/wp\/v2\/posts\/3591\/revisions\/3594"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/satoshi-club.esipick.com\/index.php\/wp-json\/wp\/v2\/media\/3592"}],"wp:attachment":[{"href":"https:\/\/satoshi-club.esipick.com\/index.php\/wp-json\/wp\/v2\/media?parent=3591"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/satoshi-club.esipick.com\/index.php\/wp-json\/wp\/v2\/categories?post=3591"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/satoshi-club.esipick.com\/index.php\/wp-json\/wp\/v2\/tags?post=3591"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}