Welcome to the PolyWantsACraker live AMA with The Gem Hunters, we would like to thank the team for attending today and sharing information on the project with our community!
BiT_SHaMaN|TGH/Owner@TheGemHunterstg : Lets kick this off with a basic description into what you guys are actually building over at Polywantsacracker, great name by the way whats the story behind that?
Kurt Cobain(Team PolyWantsACracker) : https://www.youtube.com/watch?v=8xip8lF-bS4 Well you can actually start out with that video before anything because that is the theme for our second farm and its a full album link. Anyway there was a different song that inspired our first name, https://www.youtube.com/watch?v=3H0NHHKBemg . There was actually a friend of ours who consulted on all of our branding and aesthetics, and this was a ploy to appeal to a certain demographic really ,who may just so happen to have lots of crypto money So that actually inspired the whole title and mascot of our first farm ,me being the mascot of course. But what we are building for our second layer had been conceptualized and mostly constructed actually before our first layer was even an idea. So in our second yield farm we are going to have a new thing for yield farming which is tokenized ownership.
BiT_SHaMaN|TGH/Owner@TheGemHunterstg : We do have questions on how your impacting the space and what your doing different?
Kurt Cobain(Team PolyWantsACracker) : We had superior metrics, but what we did not tell others at first was the fact that we were coming up with the first true tokenized ownership system and i say the first true system because it actually distributes lots of money to the ownership token holders so our farm’s basic structure is described at https://app.gitbook.com/@polywantsacracker/s/stadiumarcadium/ All of our pools and farms will emit two tokens one of those will be a farming token and one an ownership token , if you participate in either the USDC or LITHIUM presale, you get both tokens in a set ratio the myfriends token will be stakeable for all the benefits you see above. We are actually dividing 75% of the deposit fees proportionally amongst the stakers of this token . So 3% of all deposits in the non-native category and we are distributing a significant chunk of the farming token’s transaction tax to the ownership token holders as well but the farming token cannot be worthless and just a pure dump because the farming token’s pools will have high multipliers and reward the ownership token so the farming token’s value will be actually denominated in ownership tokens , the ownership token contract also processes any money that hits it
BiT_SHaMaN|TGH/Owner@TheGemHunterstg : Moving on can we get a general thesis on your opinion and thoughts of the current state of the DEFI space, what trends and patterns have you noticed recently, especially in the farming aspects of DEFI and how are you intending to address some of the more problematic aspects of what is happening in the market?
Kurt Cobain(Team PolyWantsACracker) : Yeah so we have gone over this partially already. One thing we saw at the start was that there were fewer projects but they tended to be more legit. Nevertheless, there have been scam projects always. I would say the landscape has actually gotten worse in DeFi yield farming than it ever has been before because back in the day of masternode shitcoins, they might drop in value, but at least withdrawing those shitcoins to cryptopia could not drain your balance of OTHER coins.
BiT_SHaMaN|TGH/Owner@TheGemHunterstg : I think we covered a lot of the farming apects of the project but whilst were on the subject would you like to run over some of the farming metrics of polywantsacracker? What typical APR% rates are going to be upheld, what pools will be available and what are the lock up periods?
Kurt Cobain(Team PolyWantsACracker) : In terms of metrics we were extremely good for a first farm, more successful than even i could have imagined. We maxed out at over 17M TVL, we had over 2m total native liquidity (TNL) at the max, maxed out at over $4m lithium market cap, and over $3m in lithium single staking. back then we had not announced the new tokenized ownership system, it was just announced as “nexgen features that will make you shit your pants” that was literally the branding, so we have clarified what we intend to do a lot since then and indeed we have a working product ready to deliver . Anyway our first $150k presale sold out in less than 2 minutes, and that shows the community’s general desire for just a trustworthy yield farm runner but we believe that interest is significantly higher now and people are evidently making plans to buy quite quickly so people have really been rating the LITHIUM tokens with a high premium.
BiT_SHaMaN|TGH/Owner@TheGemHunterstg : Moving onto your basic roadmap, hows that look? Whats actually been acheived so far and what can we expect to see the team deliver in the near future?
Kurt Cobain(Team PolyWantsACracker) : We have an official roadmap https://app.gitbook.com/@polywantsacracker/s/stadiumarcadium/platform/roadmap. The major innovation of Layer 2 is the introduction of the dual token dividend system and the major improvements of layer 3 will be parameter improvements, adjustments to make it “optionally permanent” (with a kill switch), and OTC. We are going to have an on-chain OTC engine which is useful for lots of different purposes it can be useful for strong communities who do not want to let their shitcoins hit AMMs. So it can prevent price dumps, it can be useful for whales who have huge bags to unload them.It can be useful to creators in case they want to run like a secondary sale. It can also finally be useful for something that is busted and broken called darkpools , which if you know what they are, you probably speak about it in hushed tones, but my personal best deal ever was a dark pool deal .