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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 SolarFare Finance and our guest was @Solarfare1 founder of Solarfare. The AMA took place on 12 May.<\/p>\n\n\n\n
The\nAMA session was divided into 3 parts with a total crypto reward pool of 500$ <\/p>\n\n\n\n
In\nthis AMA Recap, we will try to summarise the most interesting points for you.<\/p>\n\n\n\n
SolarFare\nFinance (Never DM FIRST – ASK FOR FUND):<\/strong> Good afternoon\neveryone! I am happy to be here with you guys today!<\/p>\n\n\n\n Mihai\nPisica:<\/strong> Happy to have you here mate )<\/p>\n\n\n\n How is your day going?<\/p>\n\n\n\n Andr\u00e9s\nM. | Satoshi Club:<\/strong> Welcome to Satoshi Club, we are happy\nto have here<\/p>\n\n\n\n SolarFare\nFinance (Never DM FIRST – ASK FOR FUND):<\/strong> Pretty great, we just\nfinish our 2nd day from launch!<\/p>\n\n\n\n Andr\u00e9s\nM. | Satoshi Club:<\/strong> [ Sticker ]<\/p>\n\n\n\n Mihai\nPisica:<\/strong> Does it went successfully?<\/p>\n\n\n\n SolarFare\nFinance (Never DM FIRST – ASK FOR FUND):<\/strong> Yeah, we had a new ATH\ntoday!<\/p>\n\n\n\n Andr\u00e9s\nM. | Satoshi Club:<\/strong> We would like to know more about you,\ncould you please give us a short introduction about you?<\/p>\n\n\n\n SolarFare\nFinance (Never DM FIRST – ASK FOR FUND):<\/strong> Sure<\/p>\n\n\n\n I am the founder of Solarfare, the person in\ncharge of planning everything. Before I started this project, I used to work in\nthe finance industry, that is why I have experience and understand what is good\nfor our community<\/p>\n\n\n\n Mihai\nPisica:<\/strong> What is the essence of SolarFare Finance?<\/p>\n\n\n\n SolarFare\nFinance (Never DM FIRST – ASK FOR FUND):<\/strong> I started in crypto\ncurrency back in 2017, and experience with all the new trend, which help me to\nprepare for our project<\/p>\n\n\n\n Solarfare Finance is a\nnew generation of Yield Farming. Everyone can stake our token Solarefare ($SLF)\nvia our DApp to get BNB as reward. <\/p>\n\n\n\n Different from other\nproject which give reward in their own token, we decide to reward BNB as it is\nvalueable. And also by doing this, we can prevent our $SLF to be inflated as\npeople don’t need to sell $SLF for reward.<\/p>\n\n\n\n Andr\u00e9s\nM. | Satoshi Club:<\/strong> How is your team conformed?<\/p>\n\n\n\n Mihai\nPisica:<\/strong> Btw, how many persons are in your team?<\/p>\n\n\n\n SolarFare\nFinance (Never DM FIRST – ASK FOR FUND):<\/strong> Our team have 3 core\nmembers, me as the founders and 2 full stack developers. We studied at the same\nuniversity and have been friend for a long time. It was April 2021, I see the\ntrend clearly indicate that BSC is booming, but all the project on BSC are\nmostly just copy & paste without any innovations, and rug-pulls are like\ndaily story. That is why we decided to start Solarfare – to give people a safe\nplace to store fund \ud83d\ude42<\/p>\n\n\n\n Mihai\nPisica:<\/strong> We can see that your project is completed in the\ncrypto trend<\/p>\n\n\n\n How long does it take\nto develop a project?<\/p>\n\n\n\n SolarFare\nFinance (Never DM FIRST – ASK FOR FUND):<\/strong> Well it took me nearly\na month to plan and prepare everything. And our devs need to work 20 hours a\nday for 2 straight week to meet my deadline<\/p>\n\n\n\n Mihai\nPisica:<\/strong> 20 hours?! Hard enough 😀🙈<\/p>\n\n\n\n SolarFare\nFinance (Never DM FIRST – ASK FOR FUND):<\/strong> Yeah I am a difficult\nboss \ud83d\ude00<\/p>\n\n\n\n Mihai\nPisica:<\/strong> But hope you will have a high-quality result after\nthat )<\/p>\n\n\n\n [ Sticker ]<\/p>\n\n\n\n Andr\u00e9s\nM. | Satoshi Club:<\/strong> So hard work, well done and congrats to\nyour team💪. Big effort means big achievements<\/p>\n\n\n\n SolarFare\nFinance (Never DM FIRST – ASK FOR FUND):<\/strong> Yup, you can see that\nfrom our website and DApp, and also our contract passed the audit successfully\n\ud83d\ude42<\/p>\n\n\n\n Thank you<\/p>\n\n\n\n Andr\u00e9s\nM. | Satoshi Club:<\/strong> We have collected some community\nquestions for you, let’s learn more about your project through them. Are you\nready to proceed?<\/p>\n\n\n\n SolarFare\nFinance (Never DM FIRST – ASK FOR FUND):<\/strong> Yes please!<\/p>\n\n\n\n Q1 from telegram user\n@Ajpaa<\/em><\/strong><\/p>\n\n\n\n There\nhave been an increase in lack of trust and confidence for fund raising process\namong participants of the fund raising process , accusing the process to be\nunfair. How is your Launchpad platform going to make fund raising fair and\ntransparent to secure participants confidence, thereby maintaining your\nplatforms integrity? What are the requirements for project owners who intend to\nuse your Launchpad platform? Thanks.<\/strong><\/p>\n\n\n\n Mihai\nPisica:<\/strong> We will have occasion to discuss about in futher\nquestions from the community )<\/p>\n\n\n\n SolarFare\nFinance (Never DM FIRST – ASK FOR FUND):<\/strong> Hey this is a great\nquestion I read this morning!|<\/p>\n\n\n\n Our launchpad will be\nfocused on being fair to all and ease-of-use, my developers have years of\nexperience dealing with that exact issue: people trying to create an unfair\nadvantage by creating bots. We are confident that beside creating a better\nexperience for the end user, and having reasonable fees for project creators,\nwe will assure a fair platform that anyone can use.<\/p>\n\n\n\n Our platform will be a\ndecentralized launchpad, so this can help any new projects get the chance to\nhost a presale. And also, we are willing to be angel investors to provide\nfinancial support and technical assistance for potential project \ud83d\ude42<\/p>\n\n\n\n The launchpad will be\nfully audited before release to the community by 2 auditors \ud83d\ude42<\/p>\n\n\n\n Andr\u00e9s\nM. | Satoshi Club:<\/strong> Certik right? I read something about it<\/p>\n\n\n\n SolarFare\nFinance (Never DM FIRST – ASK FOR FUND):<\/strong> But we may require\nproject to be audited by our partner and our team before they can start\npresale, as we certainly do not want any rug pull happen on our launchpad !<\/p>\n\n\n\n Yes! And Solid Group!<\/p>\n\n\n\n Mihai\nPisica:<\/strong> Can you share here who are the Auditors?<\/p>\n\n\n\n Ah, got it )<\/p>\n\n\n\n Andr\u00e9s\nM. | Satoshi Club:<\/strong> Famous companies, great job<\/p>\n\n\n\n Mihai\nPisica:<\/strong> Indeed good strategy!<\/p>\n\n\n\n Does your Auditing\nreport mention some issue in the process?<\/p>\n\n\n\n SolarFare\nFinance (Never DM FIRST – ASK FOR FUND):<\/strong> Yeah in fact when we\nstarted our project, we face many problem with re-deploying our contract, and\nthat created a huge fud for us! Our first version of token passed audit from an\nauditors, but when we came to Solid Group, they pointed out 5 issues to be\nfixed. After that, we tested the contract on our local node for multiple times\nand found out another bugs that can greatly affect user experience with our\nstaking contract, so we need to re-deploy again<\/p>\n\n\n\n Andr\u00e9s\nM. | Satoshi Club:<\/strong> Is there any other filter needed to use\nyour platform?<\/p>\n\n\n\n SolarFare\nFinance (Never DM FIRST – ASK FOR FUND):<\/strong> Well not really, as it\nis a Decentralized launchpad. But to get funding and support from us, they will\nneed to be KYCed<\/p>\n\n\n\n Andr\u00e9s\nM. | Satoshi Club:<\/strong> Thanks for the clarification, you are\ndoing a great job👍😃<\/p>\n\n\n\n Would you like to add\nsomething else or we can proceed with the next question?<\/p>\n\n\n\n Mihai\nPisica:<\/strong> Nice job that you have found how to solve the\nproblem ) It is crucial to inspire confidence in user’s experience, once we\nwant to approach more the mass adoption<\/p>\n\n\n\n SolarFare\nFinance (Never DM FIRST – ASK FOR FUND):<\/strong> I think we can proceed\nto the next question \ud83d\ude42<\/p>\n\n\n\n Q2 from Telegram user\n@victorogb<\/em><\/strong><\/p>\n\n\n\n SolarFare\nFinance recently achieved a great milestone in it\u2019s development with an\nofficial listing of the SolarFare token; $SLF on both coinmarketcap and\ncoingecko. This grand unveiling and the success achieved in less than 24 hours\nof this listings, directly gives credence to the integrity and innovative\nvision of the SolarFare Finance project. Drawing from the obvious success of\nthis remarkable event, how will SolarFare Finance properly market and push\nmassive adoptions and use of it\u2019s services to new and existing users, and are\nthere plans for future tier-1 exchange listings?<\/strong><\/p>\n\n\n\n SolarFare\nFinance (Never DM FIRST – ASK FOR FUND):<\/strong> To be honest, we have\nmarketing plan until middle of June. But CMC + CGC listed us too fast so we are\ncoming up with a new marketing plan. Currently I am already in contact with a\nhuge amount of youtubers, and they will release their videos soon. This surely\ncan bring $SLF more exposure. Beside youtube, we are also trying to find\nreputable tiktokers and twitter influencers to help with this.<\/p>\n\n\n\n Yes, our goal from the\nstart is to do the best for our project, that’s why we will focus on tier 1 CEX\ninstead of starting from any small exchange. In fact, we already contacted\nmultiple CEX for this, but as they have strict requirements, it can take time\nbefore listing news to be released.<\/p>\n\n\n\n And since we don’t want\nto make any false promise, we can’t really give you any name for now. But CEX\nwill come for sure<\/p>\n\n\n\n Mihai\nPisica:<\/strong> Btw, could you share with us your roadmap? What\nelse is coming for SolarFare?<\/p>\n\n\n\n SolarFare\nFinance (Never DM FIRST – ASK FOR FUND):<\/strong> Sure, give me a minute<\/p>\n\n\n\n Mihai\nPisica:<\/strong> Take your time mate )<\/p>\n\n\n\n SolarFare\nFinance (Never DM FIRST – ASK FOR FUND):<\/strong> Our first road map is\nto deliver CMC + CGC in May, and then update more function on our website.\nMarketing will start in June, and Launchpad will be released in July.<\/p>\n\n\n\n But since we have a\nvery successful launch, we are currently working on a new roadmap, as we surely\ndont want to lose this momentum<\/p>\n\n\n\n I can share with you\nsome sneak peek about this:<\/p>\n\n\n\n -May: Mass marketing\nwith youtube + tiktok + twitter influencer + website update<\/p>\n\n\n\n -June: Merchandise\nstore (yes, this is new), more marketing methods instead of the traditional\ncrypto way, CertiK audit released. Launchpad can also be released if our\nauditors finish working on it<\/p>\n\n\n\n -July: CEX, lottery\nfunction, new staking pool (this will be totally different from all other project!)<\/p>\n\n\n\n Please stay tune for\nmore update fromo us !<\/p>\n\n\n\n Andr\u00e9s\nM. | Satoshi Club:<\/strong> A great events coming, don’t forget to\nshare the announcements with us😃. Is time to proceed with the third\nquestion, ready to go?<\/p>\n\n\n\n SolarFare\nFinance (Never DM FIRST – ASK FOR FUND):<\/strong> Sure, I am ready<\/p>\n\n\n\n Q3 from telegram user\n@Highpee<\/em><\/strong><\/p>\n\n\n\n After\nstudying your project, I am not too convenient with your plan with governance\nas you said governance will have no place in the Solarfare ecosystem because\nyou see it as an unhealthy practice that doesn\u2019t encourage total\ndecentralisation and trustlessness. I tend to oppose this view as I believe\ngovernance is one of the crucial pillar of Defi which gives the larger\ncommunity of investors an avenue to contribute opinions and suggestions on\nissues such as transaction fees, product features and other project improvement\nareas. Will this be subject to change later? What role are to be played by your\ncommunity in your project? How valuable is community to you and how will you\nensure community participation in important aspects of project development?<\/strong><\/p>\n\n\n\n Mihai\nPisica:<\/strong> Full schedule there )<\/p>\n\n\n\n SolarFare\nFinance (Never DM FIRST – ASK FOR FUND):<\/strong> To be fair, everything\nabout our project has been hard coded before release, so we haven’t implemented\na governance function. But we may consider it with other product after\nLaunchpad. I agree that governance is giving out the decision to community, but\nin most of the case I have seen so far, most of these governance end up being\ncontrolled by “whales”, at they own a huge amount of voting\npower. <\/p>\n\n\n\n Our community is the\nmost valuable thing to us, because without them, our project cannot be as\nsuccessful as of now. That is why we’ve been focusing on doing the best thing\nfor our community. And we are transparent with every decision we made. All\ndecisions will be announced before they are implemented, and we will collect\nfeed back to decide on how to proceed.<\/p>\n\n\n\n Andr\u00e9s\nM. | Satoshi Club:<\/strong> So what are the main benefits for $SLF\nlong term holders?<\/p>\n\n\n\n Mihai\nPisica:<\/strong> I agree here with whales. But don’t you think there\nare solutions to avoid this? I mean, it would be interesting to see and hear\nabout tech solutions how to avoid this, as I am not a developer and I’m\ncourious about it ))<\/p>\n\n\n\n SolarFare\nFinance (Never DM FIRST – ASK FOR FUND):<\/strong> As mentioned from the beginning, our platform\nfocus on rewarding $SLF holder with BNB reward! We have many plans to come for\nthis. For example, 20% of the revenue from our launchpad platform will be used\nfor staking reward, while 30% will be used for buy back and burn<\/p>\n\n\n\n Andr\u00e9s\nM. | Satoshi Club:<\/strong> Great mechanisms, I think community is\nthe pillar of each project<\/p>\n\n\n\n SolarFare\nFinance (Never DM FIRST – ASK FOR FUND):<\/strong> Hey this is actually a\ngood question. We have some idea about this, but if we implement strategy to\ngive everyone equal power, then again, we are being unfair to the whale 😂\nThat is why we do not want to discuss too much about governance for now<\/p>\n\n\n\n Mihai\nPisica:<\/strong> Ok, got you )<\/p>\n\n\n\n Fair point of view<\/p>\n\n\n\n Thanks for the clear\nanswer!<\/p>\n\n\n\n Andr\u00e9s\nM. | Satoshi Club:<\/strong> Great answer😁<\/p>\n\n\n\n Mihai\nPisica:<\/strong> Can we shot the next one?<\/p>\n\n\n\n SolarFare\nFinance (Never DM FIRST – ASK FOR FUND):<\/strong> sure, please do<\/p>\n\n\n\n Q4 from Telegram user\n@quachthingoc<\/em><\/strong><\/p>\n\n\n\n You\nstate on your website \u201cDo not touch customer funds or the keys of their smart\ncontract.\u201d How do you guarantee that users within SolarFare Finance are\ncompletely safe and free from malicious attack? How do you proceed a KYC on a\nDecentralized Exchange?<\/strong><\/p>\n\n\n\n SolarFare\nFinance (Never DM FIRST – ASK FOR FUND):<\/strong> Our dev team are\nsoftware engineers that have been in the industry 10+ years and have built many\nenterprise products. So we can ensure that we have the highest security<\/p>\n\n\n\n Proceed a KYC on a DeFi\nproject is tricky to be honest. But we can share some of the process such as\nrequesting for personal documents, tax information, video record, and other\nproof. In case the project that was KYCed decided to rug pull, these\ninformation will be release to the public.<\/p>\n\n\n\n Andr\u00e9s\nM. | Satoshi Club:<\/strong> Btw, could you tell us more about your\ncurrent and coming partnerships?<\/p>\n\n\n\n SolarFare\nFinance (Never DM FIRST – ASK FOR FUND):<\/strong> Sorry, this is a\nsecret! We only reveal it at the right time, since we want to prevent pump and\ndump. We have seen too many project have this problem. People usually \u201cbuy the\nrumors – sell the news\u201d, which is unhealthy for any project. But we can reveal\none thing, that is Solid Group will definitely be one of our Auditor partners\nfor the launchpad, as we trust their skills and knowledge!<\/p>\n\n\n\n Andr\u00e9s\nM. | Satoshi Club:<\/strong> Don’t worry we understand and we we’ll\nbe expecting for the coming new about it🥳<\/p>\n\n\n\n Let’s proceed with the\nnext question😃<\/p>\n\n\n\n SolarFare\nFinance (Never DM FIRST – ASK FOR FUND):<\/strong> Sure<\/p>\n\n\n\n Q5 from Telegram user\n@jodasf<\/em><\/strong><\/p>\n\n\n\n Donations\nsuch as those raised by SolarFare Finance are usually a very delicate issue,\nsince I believe that very few projects have a really transparent donation\nsystem, so could you tell us about how you handle this particular issue, tell\nus what motivated you to include donations in the project, how these donations\nare handled and how you can guarantee users that you are really sending these\nfunds to where you claim to send them?<\/strong><\/p>\n\n\n\n SolarFare\nFinance (Never DM FIRST – ASK FOR FUND):<\/strong> Good question!<\/p>\n\n\n\n As I worked in\nfinancial industry before, we usually have corporate social responsibility.\nThat is why we implemented it into our project. <\/p>\n\n\n\n Binance Charity wallet\nis hardcoded in our contract – which passed audit – so you can rest assure that\nwe really donate it for good cause. You can also verify this on the blockchain<\/p>\n\n\n\n So far, we have donated\n221 BNB in the last 48 hours!<\/p>\n\n\n\n SolarFare\nFinance (Never DM FIRST – ASK FOR FUND):<\/strong> ✔️<\/p>\n\n\n\n Andr\u00e9s\nM. | Satoshi Club:<\/strong> What kind of donations have been done\nuntil now? Or not yet?<\/p>\n\n\n\n SolarFare\nFinance (Never DM FIRST – ASK FOR FUND):<\/strong> We have 1% tax on all\ntransaction converted to BNB and donated directly to Binance Charity Fund!<\/p>\n\n\n\n Mihai\nPisica:<\/strong> Very kind from your part! 221 BNB at it value now\nis a huge ammount \ud83d\ude09 Hope your effort will make the lives to be saved and we\ncan get to normal life and develop projects at 100% full program )<\/p>\n\n\n\n Andr\u00e9s\nM. | Satoshi Club:<\/strong> That program has been a great help to\nfight against covid 💪<\/p>\n\n\n\n SolarFare\nFinance (Never DM FIRST – ASK FOR FUND):<\/strong> Thank you \ud83d\ude42 we really\nhope that our project can make the world a better place<\/p>\n\n\n\n Mihai\nPisica:<\/strong> And I am sure you will succed!<\/p>\n\n\n\n [ Sticker ]<\/p>\n\n\n\n SolarFare\nFinance (Never DM FIRST – ASK FOR FUND):<\/strong> Can we move to the\nnext question?<\/p>\n\n\n\n Q6 from Telegram user\n@Jonahapagu<\/em><\/strong><\/p>\n\n\n\n SolarFare\u2019s\nstaking dApp is now fully working and with this, users get to stake their SLF\nto receive BNB as rewards, so can you explain how your newly launched staking\ndApp works, what are the requirements to participate in your staking, at the\nmoment your rewards are in BNB do you have plans of rewarding users with other\ntokens in the future?<\/strong><\/p>\n\n\n\n SolarFare\nFinance (Never DM FIRST – ASK FOR FUND):<\/strong> We have a great\nexplanation video to that question that will show the steps from creating a\nmetamask wallet up to staking<\/p>\n\n\n\n