Post-Christmas AMA brought us a lot of food for mind. And today we would like to tell you about the AMA session with our friends from Drift.finance. The AMA took place on December 26 and our guest was Lord Nami.<\/p>\n\n\n\n
The total reward pool was 500$ and has been splitted in 3 parts. <\/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
GoldRocket: <\/strong>We are delighted to welcome our guests from Drift.finance.:blush:<\/p>\n\n\n\n D. | Satoshi Club: <\/strong>hello Satoshi Club! Merry Christmas!<\/p>\n\n\n\n Lord Nami: <\/strong>Hello everyone, Thanks for having me here<\/p>\n\n\n\n D. | Satoshi Club: <\/strong>let’s begin with intro, tell us a few words about yourself and about Drift.finance:blush:<\/p>\n\n\n\n Lord Nami: <\/strong>So my background is full stack dev. GoldRocket: <\/strong>That sounds good!<\/p>\n\n\n\n D. | Satoshi Club: <\/strong>nice diversity! so you took the best parts from all these projects and combined in drift.finance<\/a>?<\/p>\n\n\n\n Lord Nami: <\/strong>Yes, and adding new features too that has dynamic fees based on liquidity. Let me explain some of the features of drift<\/p>\n\n\n\n 1. Frictionless Yield Farming 2. Automatic\nLiquidity Generation 3. Reward &\nPenalty 4. Dynamic Fees 5. Constant Buy\nPressure 6. Deflationary\nToken 7. Partner Liquidity\nConnector Thats it the\nfeatures for now.<\/p>\n\n\n\n D. | Satoshi Club: <\/strong>good opportunitie to earn a passive income:ok_hand:<\/p>\n\n\n\n Lord Nami: <\/strong>You are correct. It’s a nice way to earn passive income.<\/p>\n\n\n\n D. | Satoshi Club: <\/strong>no mercy for sellers as i understand?:smile:<\/p>\n\n\n\n Lord Nami: <\/strong>Yes, we encourage buyers to hold, and earn them nice amount of interest.<\/p>\n\n\n\n Q1 from Telegram user @ovkneze_big<\/em><\/p>\n\n\n\n Explain, please, I do not quite understand what it means \u201cit will burn and lock received DRF.\u201d I thought that if a token is burned, then it does not need to be locked?<\/strong><\/p>\n\n\n\n Lord Nami: <\/strong>I see, so burn in DRF means the amount of token will be locked forever inside the contract and cannot be owned by anyone. \nWe want the holders receive the full interests.<\/p>\n\n\n\n \nI hope that clears the lock meaning<\/p>\n\n\n\n GoldRocket:\n<\/strong>This is an unusual system.\nHow did you get the idea for this?:wink:<\/p>\n\n\n\n Lord Nami: <\/strong>I am just thinking for the benefit of the DRF holders, we don’t want burn address balance increase and taking passive income from DRF holders. In the sense it’s the same 🙂 the token can’t be owned by anyone when it’s burned.<\/p>\n\n\n\n Q2 from Telegram user @konditer_rolex<\/em><\/p>\n\n\n\n Is it true that this is your third project this year? What happened to the previous projects? I am sure that you have gained experience, but I want to know what this experience was. Did you make many mistakes?<\/strong><\/p>\n\n\n\n Lord Nami: <\/strong>Yes, the previous projects still running. I incorporate them into DRIFT finance too, so they can use their tokens to farm DRF. DVD finance is still earning passive income too in form of dividend.<\/p>\n\n\n\n D. | Satoshi Club: <\/strong>so now are you CEO of all three projects?:grin:<\/p>\n\n\n\n Lord Nami: <\/strong>You can say that, but in defi we don’t have “real” CEO right, since it’s decentralized and community driven.<\/p>\n\n\n\n D. | Satoshi Club:<\/strong> yep. tell as a bit about your team? are you working always with same people? from project to project?<\/p>\n\n\n\n GoldRocket: <\/strong>Amazing way!:+1:tell us about your team of like-minded people?<\/p>\n\n\n\n Lord Nami: <\/strong>Yes, currently the dev is myself, and my team is me with my community mods, many of thems are from mods from my previous projects. \nThey also suggest to do satoshi AMA, so here we are 🙂<\/p>\n\n\n\n GoldRocket: <\/strong>How many people are on this team?<\/p>\n\n\n\n Lord Nami: <\/strong>8 people<\/p>\n\n\n\n Q3 from Telegram user @yellowchamp<\/em><\/p>\n\n\n\n As one of your feature which is a Fair Launch which stated \u201cNot a clone, No presale, Circulating from 0. Buy on launch has limits to prevent bots\u201dcan you elaborate more about this statement? If the circulating supply is from zero, is there any possibility that your token will be deflationary ? If there is no presale ,how will you possibly get funds for liquidity for exchange listing? If you\u2019re not a clone, what makes Drift Finance unique among other platforms? As an investor, how worth it to spend and invest money with your platform? Thank you!<\/strong><\/p>\n\n\n\n Lord Nami: <\/strong>Yes the token is deflationary since the protocol will buy back DRF from market and burn it. \nHope that answer the question.<\/p>\n\n\n\n GoldRocket: <\/strong>Thanks! Btw tell us please about your tokenomics. For example, how many tokens does the team own?<\/p>\n\n\n\n Lord Nami:<\/strong> The total max supply is 10 millions DRF. \nBut to quote from the original tokenomics page: \nhope thats answer the question.<\/p>\n\n\n\n D. | Satoshi Club:<\/strong> got it! and when we can see DRF on other exchanges, except Uni? perhaps are you planning to work with some CEX exchanges?<\/p>\n\n\n\n Lord Nami: <\/strong>Sure, we are open to expand to other exchanges.<\/p>\n\n\n\n GoldRocket: <\/strong>can you share which ones are in your field of vision? If this is not a top secret 😉<\/p>\n\n\n\n Lord Nami: <\/strong>Right now our current goal is to create more exposure about drift by doing AMA and youtube campaign. GoldRocket:\n<\/strong>This\nis a very correct strategy! By the way, share some useful links for\nour community! :pray:<\/strong><\/p>\n\n\n\n Lord Nami: <\/strong>Website: https:\/\/drift.finance<\/a> Q4 from Telegram user @Highpee<\/em><\/p>\n\n\n\n Drift finance have 3 liquidity state: normal drift, brake drift and stake drift. Tax and Yield for each state are automatic and may also be different. What is the uniqueness of each liquidity state? At what point will the protocol add liquidity and what factors determine the tax in each liquidity state?<\/strong><\/p>\n\n\n\n Lord Nami:<\/strong> The uniqueness of the liquidity state is the dynamic fee, so for example when the liquidity is low, the protocol can automatically adjust to distribute the transaction fee more to liquidity, so the token will have healthy liquidity for everyone to trade. The protocol will add liquidity every hour when rebalance is executed.<\/p>\n\n\n\n \nhope thats answer it<\/p>\n\n\n\n Q5 from Telegram user @Brainchest <\/em> <\/p>\n\n\n\n We all know that liquidity pools have the disadvantage of non-permanent losses. Do You have a solution for this and if so how does this solution work? It is very important<\/strong><\/p>\n\n\n\n Lord Nami: <\/strong>Yes, the solution for this currently is using the transaction fee to add the liquidity, so that liquidity is hold by contract and not owned by anyone. \nHope thats answer it, let’s we proceed to next question<\/p>\n\n\n\n Q6 from Telegram user @zaferce<\/em><\/p>\n\n\n\n How is the limit rate for withdrawing bet LP tokens set and how will taxation be charged when we claim our rewards?<\/strong><\/p>\n\n\n\n Lord Nami: <\/strong>The limit rate for withdrawal is 10% per day if you are staking LP using the website, it’s compensated with DRF farming. Q1 from Telegram user @Alika061<\/em><\/p>\n\n\n\n what\npercentage can I get from that Frictionless Yield Farm to my wallet\nwhich holds $DRF tokens and what about the percentage with automatic\nliquidity earnings to build uniswap DRF-ETH pool liquidity then where\ncan I buy $DRF tokens #DriftFinance<\/a>\n?<\/strong><\/p>\n\n\n\n Lord Nami: <\/strong>You just hold and earn 1.5% from each tx. Your wallet balance increase instantly. You can buy $DRF using uniswap. Go to https:\/\/drift.finance<\/a> website and click buy button on top right of the screen.<\/p>\n\n\n\n Q2 from Telegram user @Spott<\/em><\/p>\n\n\n\n Explain\nto us about DRIFT.FINANCE<\/a>\ndynamic fees ?<\/strong><\/p>\n\n\n\n Lord Nami: <\/strong>The dynamic fees is based on liqudity state, when liquidity is low, the protocol will distribute more tx fees to build liquidity.<\/p>\n\n\n\n Q3 from Telegram user @AmirJosh<\/em><\/p>\n\n\n\n $DRF\ntokeholders can just hold and earn . When will be the distribution of\nrewards takes place. Will it be daily distributed?<\/strong><\/p>\n\n\n\n Lord Nami: <\/strong>It distributed every transactions. Try and buy it, and see your wallet balance increase every time, enjoy passive income.<\/p>\n\n\n\n Q4 from Telegram user @Jonahapagu<\/em><\/p>\n\n\n\n In\nyour Contract there is a rebalance function to buy back DRF every\nhour… How is the amount of DRF to be bought back by this function\ndetermined.. does this happen at exact same time every hour, what\nhappens each time this rebalance function is triggered.. and what\nhappens to all the Bought back DRF tokens .<\/strong><\/p>\n\n\n\n Lord Nami: <\/strong>There is countdown in the website when the rebalance function is available. The bought back tokens is burned meaning it will be out of the circulation. Less supply will make it’s scarce and increase the value.<\/p>\n\n\n\n Q5 from Telegram user @NataliyaKil<\/em><\/p>\n\n\n\n All\nDRF holders receive passive income. How is it calculated, what does\nit depend on and can I delegate this opportunity to someone: a\nrelative or a friend, having sent him my DRF?<\/strong><\/p>\n\n\n\n Lord Nami:<\/strong> It’s calculated by having 1.5% fee on each tx, Yes you can send DRF to friends as xmas gift and tell them they will earn passive income as the balance will grow by it’s self.<\/p>\n\n\n\n Q6 from Telegram user @phule13141912<\/em><\/p>\n\n\n\n Will\n1.5% of every DRF transaction is distributed to all DRF holders or\nonly among those who made the transaction? And Can the proportion of\nholders receiving tokens increase further with the number of people\njoining in DRF ecosystem??<\/strong><\/p>\n\n\n\n Lord Nami: <\/strong>It will be distributed to all holders depending on your balance, the higher your balance, the higher your passive income will be.<\/p>\n\n\n\n Q7 from Telegram user @Xusuo<\/em><\/p>\n\n\n\n as\ni know from yield farming project is having big weakness.That is farm\nproject isnt sustainable because most farmer after getting reward,\nthey will only sell,sell, and sell which make the price down.So how\nis Drift Finance handle this kind of problem?<\/strong><\/p>\n\n\n\n Lord Nami: <\/strong>There is incentive to hold, you can earn passive income just by holding.<\/p>\n\n\n\n Q8 from Telegram user @alyaakin<\/em><\/p>\n\n\n\n Right\nnow do you partners in your DRF-PARTNER project to generate more\nliquidity?<\/strong><\/p>\n\n\n\n Lord Nami: <\/strong>We are approaching few other projects right now to do partnership<\/p>\n\n\n\n Q9 from Telegram user @smelekin<\/em><\/p>\n\n\n\n How\ncan I earn DRF without staking any coins? How is it possible to get\nDRF coins with just holding it?<\/strong><\/p>\n\n\n\n Lord Nami: <\/strong>Yes, you just buy on uniswap and hold it, you will earn DRF coins magically in your wallet.<\/p>\n\n\n\n Q10 from Telegram user @A5loveZ3<\/em><\/p>\n\n\n\n What\nis your favorite car for drift?<\/strong><\/p>\n\n\n\n Lord Nami: <\/strong>ae86 haha thats bonus question<\/p>\n\n\n\n In the final part we tested your knowledge in terms of Drift.finance. They\u2019ve prepared 4 questions for this part. The total reward pool for quiz was 300$.<\/p>\n\n\n\n For more information and future AMAs, join our Social Media channels: Spanish Telegram group: https:\/\/t.me\/satoshi_club_spanish<\/a> Our\npartners:<\/strong><\/p>\n\n\n\n Drift.finance Community: https:\/\/t.me\/DriftFinance<\/p>\n","protected":false},"excerpt":{"rendered":" Post-Christmas AMA brought us a lot of food for mind. And today we would like to tell you about the AMA session with our friends from Drift.finance. The AMA took place on December 26 and our guest was Lord Nami. The total reward pool was 500$ and has been splitted in 3 parts. In this […]<\/p>\n","protected":false},"author":5,"featured_media":4518,"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\/4517"}],"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\/5"}],"replies":[{"embeddable":true,"href":"https:\/\/satoshi-club.esipick.com\/index.php\/wp-json\/wp\/v2\/comments?post=4517"}],"version-history":[{"count":2,"href":"https:\/\/satoshi-club.esipick.com\/index.php\/wp-json\/wp\/v2\/posts\/4517\/revisions"}],"predecessor-version":[{"id":4520,"href":"https:\/\/satoshi-club.esipick.com\/index.php\/wp-json\/wp\/v2\/posts\/4517\/revisions\/4520"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/satoshi-club.esipick.com\/index.php\/wp-json\/wp\/v2\/media\/4518"}],"wp:attachment":[{"href":"https:\/\/satoshi-club.esipick.com\/index.php\/wp-json\/wp\/v2\/media?parent=4517"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/satoshi-club.esipick.com\/index.php\/wp-json\/wp\/v2\/categories?post=4517"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/satoshi-club.esipick.com\/index.php\/wp-json\/wp\/v2\/tags?post=4517"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}
Drift finance is a token that combine many other tokens successfuly feature. like RFI frictionless yield farming + SAV3 LP lock, $TRI liquidity connector, $PRIA buy bonus\/sell penalty, $NAMI farm. ITS buy back pressure every hours and other original idea such as dynamic fees.<\/p>\n\n\n\n
1.5% of every DRF transaction is distributed to all DRF holders directly to their wallets.
This means you can buy the token and hold, your wallet balance will automatically increase by doing nothing.<\/p>\n\n\n\n
\n0.5 % of every DRF transaction is used to\nbuild the liquidity of DRF-ETH uniswap pool.
\nThis means\neventually we will have enough liquidity that is not owned by anyone,\nwhich ensure liquidity for trading.<\/p>\n\n\n\n
\nBuyers receive 4% buy bonus reward, sellers pay 2% sell\npenalty.
\nThis means we reward buyers and holders.<\/p>\n\n\n\n
\nFees\nare adjusted automatically based on liquidity state (Normal, Drift,\nBrake).
\nThis means tax will be adjusted when liquidity is low to\nincrease the liquidity.<\/p>\n\n\n\n
\nContract will buy back DRF every hour using rebalance\nfunction.<\/p>\n\n\n\n
\nEverytime buy back occurs, it will burn and lock received\nDRF.
\nThis will make the total supply low. right now 19% of total\nsupply already burned.<\/p>\n\n\n\n
\nAbility to generate liquidity for DRF-PARTNER and\ngenerate rewards for LPs.
\nThis will enable drift to partner with\nother project and bring more values to both tokens holders.<\/p>\n\n\n\n
The reason it’s not sent into burn address is to prevent burn address balance to grow by receiving yield from transactions.
Remember, that in DRF wallet balance is increased by its self, so we don’t want the burn address receive most of the interest.<\/p>\n\n\n\n
they give me great inputs about the tokenomics and what do people want in the project, so i adjust and hear from their opinons. \ud83d\ude09<\/p>\n\n\n\n
The liquidity is provided by people who farm DRF token.
Yes, the thing that make it’s unique is the combination of many of the features that we have discussed in previous AMA questions.
As investor you can get buy bonus by just buying on uniswap, and earn passive income just by holding.<\/p>\n\n\n\n
Right now the circulating tokens is around 4 millions (40%) DRF.
1.9 millions (19%) DRF is already burned and cannot circulate anymore.
Team join the live sale just same with everyone else since it’s fair launch.
but there is 500,000 DRF (5%) allocated for marketing.<\/p>\n\n\n\n
\nTotal supply is\n10,000,000 DRF. Circulating starts at 0.
\n4,000,000 DRF for live\nsale supply.
\n3,000,000 DRF for farming rewards.
\n2,000,000\nDRF for LP supply to provide liquidity.
\n500,000 DRF allocated\nfor marketing.
\n500,000 DRF allocated for principal, and it’s\nyield is used to reward LP provider when partnership occur. This\nprincipal is not owned by anyone.<\/p>\n\n\n\n
We haven’t contact the exchange though, but will definitely put that on list.<\/p>\n\n\n\n
Contract: https:\/\/etherscan.io\/address\/0xe5E81B3C76491898e647dEf755c8CA3e49d315Aa<\/a>
Dextools: https:\/\/www.dextools.io\/app\/uniswap\/pair-explorer\/0xcbf00c846d3c28babfe65e7dadfd48eb92ee85e6<\/a>
UniSwap: https:\/\/app.uniswap.org\/#\/swap?outputCurrency=0x2a834c4D2D50CAFdCA530211581165026Ee49AB9<\/a>
Twitter: https:\/\/twitter.com\/DriftFinance<\/a><\/p>\n\n\n\n
Eventually, the people can trade even there is no one provide liquidity on uniswap, since the contract will not withdraw it’s LP.<\/p>\n\n\n\n
The LP in the website is to provide initial liquidity and stability, eventually the contract will have it’s own liquidity from tx fee (since it’s one of core DRF feature).
The tax is 10% when claim DRF rewards from DRF farm.
However, the tax it’s self actually can be claimable using tokens from drift.finance<\/a> sibling projects ($NAMI tsunami.finance<\/a> and $DVD dvd.finance<\/a>)<\/p>\n\n\n\nPart\n2 \u2014 live questions from the Telegram community<\/strong><\/h2>\n\n\n\n
Part\n<\/strong>3<\/strong>\n\u2013 Q<\/strong>uiz\nResults<\/strong><\/h2>\n\n\n\n
<\/strong>English Telegram group: https:\/\/t.me\/Satoshi_club<\/a>
Russian Telegram group: https:\/\/t.me\/satoshi_club_ru<\/a><\/p>\n\n\n\n
Telegram Channel: https:\/\/t.me\/satoshi_club_channel<\/a>
Twitter: https:\/\/twitter.com\/realsatoshiclub<\/a>
Website: https:\/\/esatoshi.club\/<\/a><\/p>\n\n\n\n