SEGMENT 1️⃣ - INTRODUCTION
Welcome everyone to today’s AMA session with BUSTaBNB🔥...
Hey @crypto2077 :)
thanks for having us
Before starting the session,
Please introduce yourself with our community..
Sure yep so I'm Neil ApeStrong, project lead of the BUSTaBNB ecosystem
Background all over IT, been in crypto for a long time, also love gaming :)
Can you tell us a bit about BUSTaBNB ? Would like to learn more about it 😊
Ok so honestly I could give a fully original answer here but the one that I wrote for our GitBook is pretty damn good so I hope no one minds that I'm going to copy and paste that in here :)
BUSTaBNB is a fully immersive iGaming and DeFi platform built on Binance Smart Chain.
It is an enormous and ambitious ecosystem which will soon be populated by multiple games and tokens. Accompanied by it's own DEX, Staking pools, Affiliate and Partner programs, and a DAO, it is truly unique in it's intricately weaved architecture.
It is capable of huge horizontal and vertical growth and expandability, while keeping all profit cycling within the ecosystem itself and managed by the community via the DAO.
Alongside all that is an ever-expanding universe of characters, backstory and lore to add to the fun and immersiveness of the ecosystem - did someone say Banalien T-Shirts?
Can you list some exciting features of BUSTaBNB?
So yep we've got 5 core features:
- the iGaming platform where our first game BUSTaCRASH will live, followed by many more
- the trading and staking module, similar to other DEXs but way cooler :)
- a three pronged affiliate program
- partnership portal for partners to add their tokens to our games
- and the DAO - for proposals, governance and voting etc.
Can you tell us about your gaming 🎮?
Right so the iGaming platform is designed to house any number of games, initially we'll build them ourselves but later we might just buy them and plug them into our ecosystem if it gains enough popularity
For starters our first game is BUSTaCRASH, a simple - but super fun - CRASH game, inspired by the grandfather of crypto crash games, BUSTaBIT
Can you tell us about your upcoming Events & Developments?
Yep so we've got an internal Alpha version of the game being tested right now by core team members, then we're going to release the Alpha to a small group of Alpha testers, which by the way our competition is still open for if anyone here wants to be an Alpha tester. There's a prize :)
In about two weeks from now we expect to release our Beta version of the game, once the Alpha testing is complete and the bugs are killed and improvements made. The Beta should be playable with testnet BNB at first, then real BNB shortly after once all audits are complete.
SEGMENT 2️⃣ | TWITTER Q&A
Could you explain to me the burning process within the #BUSTaBNB smart contract as it presents a very interesting function and How this process benefits the project’s ecosystem? Is it possible to do some type of burning of tokens manually?
Yep sure, and in the interest of not keeping everyone waiting around, here's an answer I prepared earlier :)
There are actually 3 primary burning mechanisms in our ecosystem for the BUST token, two automated and one manual.
The two automated burns come from 25% of the transaction tax from all trades of BUST on our DEX, and from 25% of the House Edge which is collected on the game rounds where the House wins. These two mechanisms are fully automated and occur when the amount of collected fees in the two fee manager contracts meet a low threshold.
These smart contracts will be completely public and auditable so the community never needs to worry about us not following through on our promises to action these burns, it will actually be impossible for us not to follow through without breaking the whole platform :)
The manual burns will come from the DAO Treasury wallet, where some of the platform fees and farming rewards go. Although these burns are handled manually and initially will be in our control, the proposal, governance and voting for these burns will soon be handed over to the control of the DAO - meaning the BUSTaBNB community of BUST holders will eventually in charge of how the DAO Treasury funds are used.
We have plans for more burn mechanisms but we’ll keep those to ourselves for now :)
Launching projects in a bull run is obviously much profitable than during the bear cycle. In a bear run where most of the projects fail and sometimes gone into oblivion, how will BUSTaBNB stand the test of times ?What strategies do the project employ to mitigate possible losses ?
Great question thanks Meroo!
The short answer is: look at BUSTaBIT.com. It launched in 2014 and is still being played, even with a reasonably outdated looking interface and with BTC as the only playable token.
The loooonger answer is: Our plan with BUSTaBNB is to make all our games far more fun and “sticky” than the more dull - and yet very successful - games out there. We also have our partner program to make sure there are always fun and exciting tokens to play with, and our affiliate program to keep a constant flow of new players joining up.
With the rise in popularity of crypto and DeFi, even after the bull market is over we still expect there to be huge demand for online iGaming crypto platforms. I mean, it’s not like people are ever going to stop gambling ;)
Binance smart Chain blockchain is having high transaction speed and cheap gas fees, Are you planning to launch your mainet or switch to other blockchains in the future?
So yep we chose to launch on BSC because of the hype and popularity it is currently experiencing, though we are definitely not blind to the other chains available. Our current plan is to establish ourselves on BSC with a number of partners and high user count first and then start expanding to other chains.
Polygon/Matic is an obvious 2nd choice as it would be incredibly easy to expand to, but we’re keeping a close eye on others as well to make sure that we can move quickly (albeit safely too) when the time is right.
How is #BustABNB different from other online crash games? Is there any special token gonna be introduced especially for this game in the future
Ok so for starters, BUSTaBNB is far more than just a CRASH game. It’s an entire iGaming platform, with a built in DEX/AMM for trading our native token, a farming/staking platform, an advanced affiliate program, and a whole lot more.
Yes we will have our native BUST token that gives our holders the ability to “be the house”, meaning they can make proposals and decisions for the platform via the DAO, and they can reap the rewards of the platform volume via the automated burning mechanisms. The more trade and play volume we have, the more the BUST token gets burned, the more the BUST value goes up.
I could go on and on about the differences but I get in trouble for rambling sometimes so just head on over to our GitBook if you want to see what all the other differences are :)
if we want to stake and farm #BUSTaBNB, how will the profit be calculated? and will #BUSTaBNB cooperate with DEX AMMs from other projects such as Pancakeswap?
This was a slightly tricky one as I wasn't 100% sure what you meant by "how will the profit be calculated?", but I gave it my best shot :)
You’ll easily be able to see the APR for farming/staking on our platform, just like any other farm. The big difference with BUSTaBNB is that our farming contract and emission rate is only a base rate, it actually gets topped up / added to by the revenue generated from the trade and play volume on our platform. Meaning the more people trade and play on BUSTaBNB, the more farming rewards there will be.
This can make profit calculation slightly more difficult in the sense that it might fluctuate quite wildly from day to day, but it would never go below the base emission rate from the initial farming contract, it would only ever be somewhere above that rate.
Yes absolutely we plan to cooperate with other DEXs/AMMs. We don’t see ourselves as a direct competitor, we are simply using our own DEX so that we have full control over how our token is traded on our platform and so we could create our token without any special token properties - our transaction tax is built into our AMM, not in the token contract.
If all goes well, we hope to partner with PancakeSwap and other high profile DEXs and get their tokens listed on our iGaming platform as playable tokens :)
SEGMENT 3️⃣ | LIVE Q&A
My question is that
I saw your gaming website , the website interface is very cool 😎 ,
I also saw you have kept BNB there as your primary token why not BUST Token ? I know it is not listed yet but you could launch the website after listing of BUST Token ? Or there is some other specific reason for not keeping BUST Token as primary token?
Hey thanks and yep good question :)
The first playable token on our platform will be BNB, the reason for this is that there are a whole lot of people that hold BNB right now but are looking for something more to do with it. We also plan to offer reasonably high APY on our single token BNB Bankroll pool where people can stake their BNB to earn yield in BNB or BUST (or maybe both). If all goes well, we actually might have one of the highest APYs on a BNB single token pool on BSC since the farming rewards will be topped up with platform revenue. And all BNB that's staked in the BNB pool will increase the Bankroll, meaning more potential winnings for the players!
That said, BUST will be one of the next tokens to become playable after launch, along with some other partner tokens :)
✅ Almost 80% investors have just focused on price of token in short term instead of understanding the real value of the project.
Can you tell us on motivations and benefits, for investors, to hold your token in long term?
This one is pretty simple. The more trading volume we have on our DEX and the more play/betting volume we have on the iGaming platform, the more revenue the platform generates. The more revenue it generates, the more BUST token gets burned, meaning the value goes up :)
We've run our calculations and even being conservative, this platform could generate a lot of revenue with even a small percentage of the global iGaming community using it.
What if players getting not interesting with the BUSTaCRASH after a couple of months?,
do you guys will offers new more challenging game with the cooler retro theme?
Yes absolutely. BUSTaCRASH is just our first game of many. We already have our #2 game planned which will most likely involve dice - can't say any more otherwise I'll get in trouble. But there are literally thousands of other potential games we can either build or buy and add to our ecosystem.
Furthermore, we are in the process of building out a full universe of lore, content, characters etc. to make the games and ecosystem more fun and sticky. Hence all the Banalien themed stickers etc. we've been throwing around, that's not just random art ;)
I am a begginer in crypto world😄
How the common people can invest in this project? Can you explain the steps for investing into it ? 🚀
Welcome to crypto!!
Right now you can "invest" by joining all our social channels and entering all our competitions :)
In late July or early August you'll be able to invest through one of the multiple IDO platforms that we're going to launch our public token sale on. We'll provide a whole lot more info closer to the time and there'll always be someone available in our Telegram channel to help if you get stuck :)
What is the biggest challenge you face currently in terms of becoming a successful project or company ?
Actually, growing our community is the biggest challenge right now, hence why we're doing this AMA :)
I'm not going to lie and say the rest of the project is easy, I mean really, it's all pretty challenging to make something truly unique and great in the crypto defi space. But honestly right now everything in terms of product development is going really well, we just need more community members involved in our various channels and to help us spread the word.
So, please help :)
— AMA CONCLUDED —
- ◼️𝗟𝗲𝗮𝗿𝗻 𝗠𝗼𝗿𝗲 𝗔𝗯𝗼𝘂𝘁 𝘽𝙐𝙎𝙏𝙖𝘽𝙉𝘽 :
🌏 Website: https://bustabnb.com/
📡 Twitter: https://twitter.com/BUSTaBNB
📙 Gitbook: https://bustabnb.gitbook.io/bustabnb/
📚 Reddit: https://www.reddit.com/r/BUSTaBNB_Official/
👽 Medium: https://medium.com/@bustabnb
🤖 TG Announce: https://t.me/bustabnbofficialannouncements
🏆 TG Quiz: https://t.me/BUSTaBNB_Quiz
⏰ TikTok: https://tinyurl.com/BUSTaBNB-TikTok