Participating: James Tylee (one of two devs). Ataxia (Carlos): Marketing/advising
Q1)- Why don't we start of with what is WenBurn?
James Tylee: WenBurn was thought up back in 2018 as our Radio Project CyberFM was going live in Telegram after debuting the two tokens in its ecosystem.
Everyone kept asking questions like “when Binance?” And “when burn?” And it was so redundant and spammy that it became a bit of a joke in meetings.
Even before the Bomb Token and ETHPlode (which we played a role in with those teams) we had jokingly said, “Someone should just create a token named ‘Wenburn’ and whenever they ask we just tell them “you decide it, see?”
Q2)- Who is the team behind WenBurn and what are their backgrounds?
James Tylee: We (both devs) are older. I’m 45. I have a combined experience of 25 years on Wall St in both markets and financial Technology. I have almost 30 of the same years in “Broadcast Radio” which never earned any real money, but is an absolute dream job.
At Bloomberg I was actually able to combine the two for the first time ever, creating smart algorithmic trading platforms using FIX Protocol 4.x as well as doing the weather and traffic on top of the hour on 11:30 AM Bloomberg Radio!
I’ll always be a loudmouth, obnoxious, long-haired IT Geek on Radio.
Ataxia (Carlos): My background is actually not coding related. I'm a medical doctor (MD) but have taking a big interest in crypto game theory and tokenomics. The group is involved with several projects where we navigate this brave new world so that good projects can get the exposure they deserve.
Q3)- Many bad actors with anonymous teams have launched their token on Uniswap in the past few months. We saw rug pulls and exit scams leaving investors devasted.
How do you guys differentiate from such projects and what safety do investors have?
James Tylee: You’re preaching to the choir; I can only speak for myself as well as my team members that have been with me since 2008.
Nothing in this new crypto world surprises us. Perhaps it surprises you? We’ve been at the forefront of every scam since our inception of our careers.
We’ve seen scams that have yet to even move a crypto person emotionally. One of the reasons I walked away from finance was due to ethics. The damage I witnessed is something that I could absolutely never allow to happen with my name attached.
By attaching my name to my projects, without anonymity, I couldn’t rob one innocent person if I wanted to.
With that said, as we venture into DeFi and Crypto, we can only do the things that we are TOLD are “legit” and “honest.”
For example, locking our own funding as liquidity for 12 months in 3rd Party Providers such as Unicrypt. (Just hope WE don’t get scammed)
Ataxia: Oh, tell me about it! Since joining the Uniswap space I’ve been the victim of basically every type of rug. I've also been part of exciting projects such as POWER and UBOMBS which pioneered proof of liquidity.
However, scammers have gotten smart and nowadays PoL has been weakened by new things such as minting or dumping yield farming rewards stacks.
One thing that is taking our attention to solve is the creation of DAOs. DAO’s are neat because you can store funds in what is basically a multi sig wallet governed by all the token holders. We are going to give the POP DAO almost all the goodies we have created for holders to do as they please (we hope it’s for DePhI!) But investors can be assured that they are buying into a long-term project backed by the value they generate as a group
Q4)- How was WenBurn created ? And why and when did the team come up with the name WenBurn?
James Tylee: This kind of folds back to the earlier question. The Modern Day Wenburn which evolved from the original joke intention. Our other dev, “LazyMobile” had decided that there was some real beneficial equity with the name.
Bomb tokens and deflation were just hype BS (I’m sorry but we all know it) but “what if we used a deflationary token with built in functionality that “controlled” an inflationary token?”
We started playing and fine tuning the idea of the automated and intelligent interaction of two tokens for stability and control. We also discovered the human emotional part that attracted people to having the ability to “issue themselves a payment.”
Q5)- We've heard of proof of stake and proof of work but why don't you tell us about, Proof Of Spend?
Ataxia: I came up with this term ha-ha, I love buzzwords. But in reality, proof of spend is another way to distribute tokens. You could think of YFI's method as Proof of Stake earning, but what we want to incentivize with WENB is spending!
The cool thing about spending is that we can make products such as games, bet platforms and NFT point of sales contracts that can further incentivize spending by paying back an extra rate of POP
Another great quality about proof of spend is that we can change what token is produced by the Wenb burn down the line. so, if pop holders decide they want to cut off the supply they can update the Wenb to produce a different token
Q6)- Great stuff so why don't you give us some insight into what is De-Phi?
James Tylee: DePhi is the proper way to “Decentralize Philanthropy” allowing for not only no one to be scammed, but also allowing for no one who is in need to be overlooked.
Q7)- Could you tell us a bit about POP Mission and how the POP Token works on the WenBurn Protocol?
Ataxia: POP is a governance token. Right now, we're exploring different platforms to create the POP DAO where POP will be the keys to everything inside.
We hope to set out just some ground rules and let the community take it from there. The DAO will hold the power to decide what to do with these tools and how the future of the POPDAO will unfold.
Like I mentioned earlier WENB can be repurposed to create a different token. So, in essence POP holders could decide to turn off the minting of pop forever and distribute a new project using Wenb, and then another, and another.
Q8)- Is this project's idea completely new or has there been similar ideas or clones before?
James Tylee: To the best of my knowledge, we dreamt it up ourselves because as we started building it took a life of its own. We have actually looked around and there seems to be no evidence of anything like this, which makes it that much more motivational for guys like us.
Q9)- Where do you see this project in about a year from now, what does the team hope to accomplish in that timeframe?
Ataxia: We hope that this is the start of the next phase for our project. Once people realize what wenb/pop means its going to be about what we can do with it. We just set the seeds and principles and hope that those who invest are willing to see them through.
Q10)- This has been a great AMA and before we round up is there anything that the team would like to add, maybe some upcoming news?
Ataxia: We are currently finishing deploying all the parts of the ecosystem. the tokens are ready but we are still building our Uniswap liquidity. Bounce sale is going on right now! and the proceeds will be added to Uniswap with the LP tokens being sent to the DAO
Telegram for pop holders incoming! Also come by to our chat to help us build we are open to any type of proposal such as which DAO platform should we use, and how-to best transfer ownership to the holders.
Once you have POP you OWN it! participate and make the community great to bring this DePhi vision to life and I’m sure we'll all make something great out of it.