{"id":4429,"date":"2020-12-25T21:32:28","date_gmt":"2020-12-25T19:32:28","guid":{"rendered":"https:\/\/esatoshi.club\/?p=4429"},"modified":"2020-12-25T21:32:32","modified_gmt":"2020-12-25T19:32:32","slug":"flush-lol-x-satoshi-club-ama-recap-from-23-of-december","status":"publish","type":"post","link":"https:\/\/satoshi-club.esipick.com\/index.php\/2020\/12\/25\/flush-lol-x-satoshi-club-ama-recap-from-23-of-december\/","title":{"rendered":"Flush.Lol x Satoshi Club AMA Recap from 23 of December"},"content":{"rendered":"\n

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 Flush.lol and our guest was <\/strong>Turd Burglar. The AMA took place on 23 December.<\/p>\n\n\n\n

The AMA session was divided into 3 parts with a total crypto reward pool of 500$ <\/p>\n\n\n\n

In this AMA Recap, we will try to summarise the most interesting points for you.<\/p>\n\n\n\n

Part 1 \u2014 introduction and questions from the Telegram&Bitcointalk community<\/strong><\/h2>\n\n\n\n

Luis Merino :es: | Satoshi Club<\/strong>: <\/strong>Hello SatoshiClubbers! I’m back for Christmas :)) to host a great AMA with our mates from flush.lol<\/p>\n\n\n\n

@turd_burglar welcome to Satoshi Club<\/p>\n\n\n\n

Mary | Satoshi Club: <\/strong>Hello,\nSatoshi Club! We are happy to announce our AMA session with flush.lol! welcome\nto Satoshi Club<\/p>\n\n\n\n

Turd Burglar: <\/strong>Hey\nall! Pleasure to be here.<\/p>\n\n\n\n

Mary | Satoshi Club; <\/strong>Hello,\nTurd! How are you today?)<\/p>\n\n\n\n

Turd Burglar: <\/strong>Great!\nHope you all are great too \ud83d\ude42<\/p>\n\n\n\n

Mary | Satoshi Club: <\/strong>Of course! Please, introduce yourself and tell us more about flush.lol project . It’s really exciting, we were waiting for this AMA since saw announcement <\/p>\n\n\n\n

Turd Burglar: <\/strong>Thank all of the participants and orgs for having me.<\/p>\n\n\n\n

I\u2019m an anon dev. Sorry if someone is not comfortable with that. But i want people to focus on what i do, but not who i am. i think that product is a first priority in the DeFi sphere.<\/p>\n\n\n\n

I represent flush.lol project, which consists of the two parts: flush and plunger (upcoming). briefly about them:<\/p>\n\n\n\n

1. https:\/\/flush.lol <\/p>\n\n\n\n

Flush is a decentralized platform which allows users to spend their failed DeFi tokens and take a chance to win ETH in our games. With every bet player also earns 🧻 PAPER \u2014 the native token of Flush platform.<\/p>\n\n\n\n

Stop thinking that price will recover and you will get out in lambo. Just flush your sadness along with your tokens. The only chance you have is to flush and win! Let\u2019s clear the market together! <\/p>\n\n\n\n

2. https:\/\/flush.lol\/plunger<\/p>\n\n\n\n

Plunger is designed to make you profit out of any of your tokens without selling or exchanging them.<\/p>\n\n\n\n

Similar to Compound. But Plunger users can use almost every DeFi coin as a collateral. Also CDP has not only one token. Users can make their CDPs from the bunch of tokens they have to diversify a risk of liquidation.<\/p>\n\n\n\n

With Plunger you can just lock the tokens you wanted\nto hold in CDP, get ETH and use it to trade, deposit, pay some needed expenses,\netc. And you won\u2019t miss any potential profits because you still own all your\ntokens.<\/p>\n\n\n\n

But this is not all! Plunger will also has its own\nVaults. So what you need to make additional profit with your DeFi altcoins CDP?\nNothing, just lock your tokens and start making profits, yes, that\u2019s simple!<\/p>\n\n\n\n

sorry it’s quite long <\/p>\n\n\n\n

Luis Merino :es | Satoshi Club: <\/strong>Thank\nyou! Great intro<\/p>\n\n\n\n

That’s great! The more info the better :))<\/p>\n\n\n\n

Turd Burglar: <\/strong>thanks!<\/p>\n\n\n\n

Mary | Satoshi Club: <\/strong>Nice\nintro and let’s dive into details? We have some questions that we collected\nfrom our community <\/p>\n\n\n\n

Ready?<\/p>\n\n\n\n

Turd Burglar: <\/strong>Sure!\nWe are here for questions<\/p>\n\n\n\n

Luis Merino :es: | Satoshi Club: <\/strong>Let’s go!<\/p>\n\n\n\n

Q1 from Telegram user @Ubik1337 <\/em><\/strong><\/p>\n\n\n\n

Flush your sadness along with your tokens\u2026\nI like the idea that you help people to gain at least some profit out of their\nuseless tokens, and at the same time make them smile a bit. What was the initial\nidea behind your project? When you made flush.lol you thought about how you can\nmake profit out of garbage (useless tokens) or you thought about this more like\na meme project which can help people releave the psychological tension and not\nsuffer from situations that already passed?<\/strong><\/p>\n\n\n\n

Turd Burglar: <\/strong>Very\ngood question. <\/p>\n\n\n\n

The initial idea was to help people to make profit out\nof failed tokens. That’s why now I’m working on Plunger, which will help users\nearn even more profit. Not just flush these tokens, but get some passive income\nout of it. <\/p>\n\n\n\n

Cause I see there are a lot of people who still believe that some of the tokens will recover and not ready to flush them yet.<\/p>\n\n\n\n

Mary | Satoshi Club: <\/strong>Didn’t\nyou think that the loser gets even more sadness? I mean your game You do not\ncompensate them for double tears?)<\/p>\n\n\n\n

Luis Merino :es: | Satoshi Club: <\/strong>You\nsaid I’m working…? How big your team is?<\/p>\n\n\n\n

Mary | Satoshi Club: <\/strong>And\nyes, i know what hope means:joy: and that sometimes it’s better to flush this\nhope<\/p>\n\n\n\n

Turd Burglar: <\/strong>Ha-ha.\nNow if you flush \u2013 you get 1 $PAPER for it, which is worth ~$10, so there is\nsome compensation as well \ud83d\ude42<\/p>\n\n\n\n

Luis Merino :es: | Satoshi Club: <\/strong>Not\nbad<\/p>\n\n\n\n

Mary | Satoshi Club: <\/strong>Oh,\nreally?) Even if this tokens price less then 10$?)<\/p>\n\n\n\n

Turd Burglar: <\/strong>I\nstarted on my own, but now I have a couple of guys from the initial community\nwho are helping me a lot<\/p>\n\n\n\n

Mary | Satoshi Club: <\/strong>Oh,\nreally?) Even if this tokens price less then 10$?)<\/p>\n\n\n\n

Yes. But there is a minimum amount to flush. It’s equal to 0.015 ETH<\/p>\n\n\n\n

Mary | Satoshi Club: <\/strong>🤘 it’s cool<\/p>\n\n\n\n

Luis Merino :es: | Satoshi Club: <\/strong>Starting a project alone shows you are so brave. Congrats <\/p>\n\n\n\n

Mary | Satoshi Club: <\/strong>So,\nno more tears, just lol)<\/p>\n\n\n\n

Turd Burglar: <\/strong>exactly!<\/p>\n\n\n\n

Q2 from Telegram user @Coin4me <\/em><\/strong><\/p>\n\n\n\n

The time of The Last of Us game is limited\nby 69 blocks, then you determine a winner. Do you mean that a bet transaction\nmust be confirmed within this time to participate in the round? But it\u2019s\nhappening often that ETH network is clogged because unstable gas price and this\ncould cause a long delay of confirmation. So, it might happen that some\ntransactions would send at time, but would confirmed after you have determined\nthe round winner, and some of those bets might be even bigger than the winner\nhas, i.e. actually someone else should become a winner. What will you do with\nsuch transactions those have been confirmed too late? Will you return these\nbets? Or, will those people just lose money because of ETH network issues?<\/strong><\/p>\n\n\n\n

Turd Burglar: <\/strong>In\nthis case, winner of the previous round takes the reward and bet from the\nquestion goes to the next round.<\/p>\n\n\n\n

No bets or money will be lost<\/p>\n\n\n\n

Mary | Satoshi Club: <\/strong>So,\ndid you already have such issues?<\/p>\n\n\n\n

Turd Burglar: <\/strong>It’s\nnot an issue, it’s just one of the cases, which is foreseen in the smart\ncontract code. Yes, there were some and everything is ok. I tested all cases\nbefore the release<\/p>\n\n\n\n

Mary | Satoshi Club: <\/strong>Btw,\nhow long usually one round continues?<\/p>\n\n\n\n

You are a very prudent dev<\/p>\n\n\n\n

Turd Burglar: <\/strong>For\nnow there are not a lot of users so one round could last even for a couple of\ndays. Hope the situation will be changed soon <\/p>\n\n\n\n

Luis Merino :es: | Satoshi Club: <\/strong>It\nwill. Satoshi Club Effect is coming<\/p>\n\n\n\n

Turd Burglar: <\/strong>Yes,\nI can see it. Thanks for the opportunity! \ud83d\ude42<\/p>\n\n\n\n

Mary | Satoshi Club: <\/strong>You\nneed more?) I think you’re in the right place, as we all have failed tokens, i\nthink<\/p>\n\n\n\n

Is this just for defi tokens? Or i can flush all my\n2017 ETH acc?<\/p>\n\n\n\n

Turd Burglar: <\/strong>Not\ncool that a lot of people have may of failed tokens. Hope the project will help\nyou. At least to smile<\/p>\n\n\n\n

Any ERC20 tokens which are listed on uniswap<\/p>\n\n\n\n

Mary | Satoshi Club:<\/strong>I am smiling even when i imagine how i flush all my 100+ tokens no matter if i will do this or not)<\/p>\n\n\n\n

Q3 from Telegram user @magic2crypto <\/em><\/strong><\/p>\n\n\n\n

You promise 30% APY to defi tokens stakers\nand 5% APY on loans in ETH, as it\u2019s stated on the site. But as i can see on the\nsame page, you are planning to take only up to 15% APY from those who is\npledging defi tokens to you in order to get ETH credits. Obviously the promised\npassive income on deposits is more than a potential income you can get from\nborrowers. How do you think to cover this difference? Where will you get from\naround 20% APY those are missing in a such scheme?<\/strong><\/p>\n\n\n\n

Turd Burglar: <\/strong>There\nwill be Plunger vaults to make the additional profits.<\/p>\n\n\n\n

Also please notice that Plunger is at the development\nstage at the moment and these numbers are approximate for now. It will be\nreleased in January<\/p>\n\n\n\n

Mary | Satoshi Club: <\/strong>Could\nyou tell us more about Plunger?How it will work?)<\/p>\n\n\n\n

Turd Burglar: <\/strong>Yes,\ngive me a few minutes please<\/p>\n\n\n\n

Could i use images?<\/p>\n\n\n\n

Mary | Satoshi Club: <\/strong>Of\ncourse <\/p>\n\n\n\n

Luis Merino :es: | Satoshi Club: <\/strong>Yes!<\/p>\n\n\n\n

Turd Burglar<\/strong><\/p>\n\n\n\n

\"\"<\/figure>\n\n\n\n

Plunger is designed to make you profit out of any of\nyour tokens without selling or exchanging them.<\/p>\n\n\n\n

It\u2019s simple, we have two parties: ETH lenders and\nTokens lenders.<\/p>\n\n\n\n

Similar to Compound. But Plunger users can use almost every DeFi coin as a collateral. Also CDP has not only one token. Users can make their CDPs from the bunch of tokens they have to diversify a risk of liquidation.<\/p>\n\n\n\n

\"\"<\/figure>\n\n\n\n

Tokens lenders can create a CDP, which would contain a\nbunch of DeFi tokens. It will be used as a collateral to borrow an ETH from ETH\nlenders.<\/p>\n\n\n\n

Luis Merino :es: | Satoshi Club: <\/strong>Plunger\nis great :))<\/p>\n\n\n\n

Turd Burglar: <\/strong>Why\ndo you need to use a Plunger? You\u2019re an altcoin DeFi holder and you believe\nthat some of your holdings will grow up to make you a multiple profit?<\/p>\n\n\n\n

Without Plunger you\u2019d hold your tokens and wait until\nthe price will go up without any possibilities to use these money: if you just\nexchange it to ETH for some time, you will probably miss the impetuous growth\nof the token price and miss your profits.<\/p>\n\n\n\n

And if the price will significantly drop for 50% or\nmore and you don\u2019t react on time \u2014 you can lose a big amount of your funds.<\/p>\n\n\n\n

With Plunger you can just lock the tokens you wanted to hold in CDP, get ETH and use it to trade, deposit, pay some needed expenses, etc. And you won\u2019t miss any potential profits because you still own all your tokens.<\/p>\n\n\n\n

And if the price will significantly drop for 50% or\nmore and you don\u2019t react on time \u2014 you will still have 50% in ETH, so it will\nwork for you as a risk hedging tool.<\/p>\n\n\n\n

\"\"<\/figure>\n\n\n\n

But this is not all! Plunger will also has its own Vaults. So what you need to make additional profit with your DeFi altcoins CDP? Nothing, just lock your tokens and start making profits, yes, that\u2019s simple!<\/p>\n\n\n\n

it’s a short version<\/p>\n\n\n\n

you can read more here https:\/\/flushlol.medium.com\/introducing-plunger-new-product-on-flush-lol-116b596dd51c\/<\/a> <\/p>\n\n\n\n

Mary | Satoshi Club: <\/strong>So,\nin simply words – i will need lock my tokens on your platform?<\/p>\n\n\n\n

Turd Burglar: <\/strong>and\napply to the whitelist here \nhttps:\/\/flush.lol\/plunger<\/p>\n\n\n\n

to try it first <\/p>\n\n\n\n

yes, and get ETH loan or just a passive income – up to\nyour choice<\/p>\n\n\n\n

Mary | Satoshi Club: <\/strong>Oh!\nThat’s it<\/p>\n\n\n\n

Luis Merino :es: | Satoshi Club: <\/strong>Thank\nyou for the great explanation!!<\/p>\n\n\n\n

Turd Burglar: <\/strong>thanks\n<\/p>\n\n\n\n

Mary | Satoshi Club: <\/strong>Everything\nis clear and attractive<\/p>\n\n\n\n

What about audit?<\/p>\n\n\n\n

Turd Burglar: <\/strong>There\nis no official audit yet. Of course I will need it after the Plunger release.<\/p>\n\n\n\n

But there were a few users in the group who checked\nthe flush code publicly. It’s not big and complicated<\/p>\n\n\n\n

Question 4 by Telegram User @Highpee<\/em><\/strong><\/p>\n\n\n\n

I must say that your project is\nparticularly interesting in it\u2019s scope and what it set to acheive . You have\ndescribed your project as a decentralized platform which allow your users to\nspend their failed tokens with a chance to win ETH. Do you mean you support ALL\nform of Defi tokens? Also, your project runs on the Etherium network, do your\nplatform only support tokens from Etherium blockchain or the tokens that your\nusers can use cut across various blockchain network?<\/strong><\/p>\n\n\n\n

Or you think another blockchains don’t\nhave tokens to flush?<\/strong><\/p>\n\n\n\n

Turd Burglar: <\/strong>as\ni said for now it’s only ERC20 tokens, which are listed on Uniswap. i have\nplans to expand it, but it’s not a first priority at the moment.<\/p>\n\n\n\n

ha-ha, no, i’m just focused on the product market fit\nbefore scale.<\/p>\n\n\n\n

Luis Merino :es: | Satoshi Club: <\/strong>That’s\ngreat<\/p>\n\n\n\n

Mary | Satoshi Club: <\/strong>We\nare in hurry to get rid of all our tokens<\/p>\n\n\n\n

Luis Merino :es: | Satoshi Club: <\/strong>Yes\nwe are!! Haha<\/p>\n\n\n\n

Turd Burglar: <\/strong>everybody\nis welcome<\/p>\n\n\n\n

Mary | Satoshi Club: <\/strong>Sometimes\nI envy people who only<\/p>\n\n\n\n

own 3-4 coins<\/p>\n\n\n\n

Turd Burglar: <\/strong> share flush with friends who have failed\ntokens, bring them some fun<\/p>\n\n\n\n

Question 5 by Telegram User @brodzonl<\/em><\/strong><\/p>\n\n\n\n

Why did you create your logo that simple\nonly wave and toilet sticker? How can investors consider this as obvious\ninvestment with this logo?<\/strong><\/p>\n\n\n\n

Luis Merino :es: | Satoshi Club: <\/strong>Short\nbut interesting question<\/p>\n\n\n\n

Turd Burglar: <\/strong>i\nlove the simplicity and fun. i’m not focused on convincing people to buy\n$PAPER, i’m focused on building a solid product with users and working\ntokenomics. if it will work this way, i think that simple logo won’t be a\nproblem \ud83d\ude42<\/p>\n\n\n\n

Mary | Satoshi Club: <\/strong>That’s\ntrue)<\/p>\n\n\n\n

Btw, did you have sale or pre-sale?<\/p>\n\n\n\n

Turd Burglar: <\/strong>also\nit’s a some kind of an attention grabber \ud83d\ude42 i’m tired of boring and\n“smart” brandings of the projects which has nothing behind that.<\/p>\n\n\n\n

no, community voted against it<\/p>\n\n\n\n

Mary | Satoshi Club: <\/strong>How\ndid you distribute tokens?)<\/p>\n\n\n\n

Luis Merino :es: | Satoshi Club: <\/strong>Through\ngovernance?<\/p>\n\n\n\n

Mary | Satoshi Club: <\/strong>rebellion\nagainst boredom:joy:<\/p>\n\n\n\n

Turd Burglar: <\/strong>through\nthe governance in telegram group. the community was quite small at the moment<\/p>\n\n\n\n

Luis Merino :es: | Satoshi Club: <\/strong>Oh\nokay :blush:<\/p>\n\n\n\n

Mary | Satoshi Club: <\/strong>Nice!)<\/p>\n\n\n\n

Turd Burglar: <\/strong>PAPER\n\u2014 is a native governance token of Flush project. Max. supply for PAPER is 69\n000 tokens. Yes, only 69 000 tokens. And no more tokens will be ever minted.<\/p>\n\n\n\n

PAPER is an anti DeFi bubble index asset. More\nprojects failed means more players we have, spending their unlucky investments,\nwhich means more PAPER tokens bought from the market, and finally PAPER price\ngrows. All players get tokens for every bet: starting amount is 0.5 PAPER for\neach bet.<\/p>\n\n\n\n

Of course there is a dev. fund \u2014 10% from all minted\ntokens.<\/p>\n\n\n\n

PAPER token holders will be able to vote on what goes\nlive and when, in order to decentralize the project\u2019s work.<\/p>\n\n\n\n

Also there is an anti-inflationary system is applied\nto the platform:<\/p>\n\n\n\n

10% of all drawn ETH will be used to auto market-buy\nthe PAPER token from Uniswap:<\/p>\n\n\n\n

7% of all purchased tokens will be sent to 0x0000\u2026.\nand circulating supply will be decreased forever. <\/p>\n\n\n\n

3% from purchased tokens will be sent to the\ndistributor address (read more below).<\/p>\n\n\n\n

1000 tokens (1.45%) will be pre-minted at the start to\nprovide liqudity.<\/p>\n\n\n\n

Mary | Satoshi Club: <\/strong>Perfect\nsystem <\/p>\n\n\n\n

Turd Burglar: <\/strong>and\nI’ve locked all the initial LPs which I had<\/p>\n\n\n\n

Mary | Satoshi Club: <\/strong>With\nthird part?<\/p>\n\n\n\n

Turd Burglar: <\/strong>but\nnow we have a voting system: https:\/\/gov.flush.lol\/<\/a>\n<\/p>\n\n\n\n

yes, UniCrypt<\/p>\n\n\n\n

again, community voted for that<\/p>\n\n\n\n

Luis Merino :es: | Satoshi Club:<\/strong> Thanks!!<\/p>\n\n\n\n

Mary | Satoshi Club: <\/strong>Best\ncommunity <\/p>\n\n\n\n

Turd Burglar: <\/strong>they\nare helping a lot!<\/p>\n\n\n\n

i’m grateful<\/p>\n\n\n\n

Mary | Satoshi Club: <\/strong>Next\nquestion? It will be 6th and last question from this part <\/p>\n\n\n\n

Turd Burglar: <\/strong>ready<\/p>\n\n\n\n

Question 6 by Telegram User @a6hmadjohon<\/em><\/strong><\/p>\n\n\n\n

The number of scams in projects has\nincreased, therefore the lack of trust in travel reservation platforms is a\ncommon problem among users. How does Flush.lol intend to solve this problem?How\ndo users ensure that the tactic of artificially inflating prices will not be\nimplemented?<\/strong><\/p>\n\n\n\n

Turd Burglar: <\/strong>There\nis an oracle which is checking the token before it used by flush. It’s very\nsimple now. In Plunger I will have complex oracles system, which I’m going to\nexplain in my Medium article soon.<\/p>\n\n\n\n

Mary | Satoshi Club: <\/strong>Ok,\nwaiting for this article then<\/p>\n\n\n\n

Turd Burglar: <\/strong>thank you guys for the 6 Great questions! It was really interesting!<\/p>\n\n\n\n

Part 2 \u2014 live questions from the Telegram community<\/strong><\/h2>\n\n\n\n

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

Do you have any Step-by-step guide that\ncan direct me on how to play on https:\/\/flush.lol?<\/strong><\/p>\n\n\n\n

Q2 from Telegram user @KASG95<\/em><\/strong><\/strong><\/p>\n\n\n\n

projects that promise very high profits at\na very low price turn out to be scam, how to know that Flushlol is not Scam? If\nwe do not even know who is your management team or where was this project\ndeveloped and registered?<\/strong><\/p>\n\n\n\n

Turd Burglar: <\/strong>i\nbelieve that crypto and defi world is trustless in its own nature. people don’t\nneed to trust and know each other any more. transparent system with open code –\nthis is all you need to see to make your choice to use it or not. always dyor\n\ud83d\ude42<\/p>\n\n\n\n

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

When will Plunger go live? Q1 2021 or Q2\n2020? Can’t wait to start earning with it. Kudos guys<\/strong><\/p>\n\n\n\n

Turd Burglar: <\/strong>Plunger\nis planned to be released on January 2021. Please, stay tuned and check all\nnews on Twitter and Telegram group<\/p>\n\n\n\n

\nTweets by FlushLoL<\/a>

Turd Burglar: <\/strong>Yes,\nhttps:\/\/flushlol.medium.com\/flush-lol-how-to-play-guide-8cf1fb45e6f2\/<\/a>\n<\/p>\n\n\n\n