AMA RECAP RAKEBIT FINANCE #17

Thank you to the Bang Pateng Community for participating in Ask Me Anything (AMA) with Rakebit Finance on November 8nd, 2020. This guest star Mr. Huatang Jack. If you were unable to join the live AMA, no worries, here comes our 17th AMA recap!

We are glad to meet here:
Huateng Jack – CEO & Co-Founder of Rakebit Finance

Introduction Session

Host :
Hello Mr. Huateng Jack @Huateng Jack welcome in our Community🥳🥳🥳, It’s an honor to invite you to our community

Huateng :
Hello Sir

Host :
Before we start our first session can you introduce yourself, your background and your team if you have a team working with you on Rakebit Finance

Huateng :
Hi everybody. I’m Huateng. I have 2 years of blockchain experience, I am a programmer, also an entrepreneur. My hobbies are cryptocurrency and blockchain development.

Host :
Thanks for sharing your background. Good. AMA let’s get started

Huateng :
Ok, Sir Im Ready?

Host :
Well we will continue to the first session, in this session I will give a question about Rakebit Finance, if you feel you have enough to give an answer, you can say “done”.

Huateng :
Done

Question Segment 1

Host :
Q1. Can you introduce Rakebit Finance to our community?

Huateng :
Rake is a commodity for farming, so Rake bit is farming on the blockchain network.

Host :
Q2. What are the core features of Rakebit Finance? How are you different and unique from all other projects out there?

Huateng :
Rakebit is a liquidity mining ecosystem that creates rewards for holders.

Host :
Q3. I saw that Rakebit Finance has its token named $RAKB, can you explain what the token is? What benefits can we get if we hold tokens? And how to buy?

Huateng :
All the routes we have updated on the roadmap of the Website, Q1 2021 we launch the application. Thereby interacting with the liquidity providers (LP) to provide liquidity to the protocol’s liquidity pool. LP will receive a reward (token). That reward could come from transaction fees generated by the basic DeFi platform or some other source. Thereby you can place a RAKB bet to receive compound interest

Host :
Q4. Nowadays Farming or staking is very popular. Have you provided your Farming or Staking Facility to $RAKB Investors? if you have, can you explain how to staking and farming $RAKB?

Huateng :
This has to wait until Q1 2021, at the same time we launch the app

Host :
Q5. Could you please explain, what are your upcoming plans in a couple of month/years?

Huateng :
First we approach investors, raise funds. This is also a way to reach out to app users. Then create a fever about RAKB, make people interested in RAKB more, and learn it.

Question from Twitter
(Segment 2)

From : @untillthemoon

Huateng :
Projects are discounted after pre-sale due to many objective factors. We always try to get the best starting price of RAKB, and also potential token by factor: small aggregate supply, unsold tokens will be burned. Listed on exchanges with good trading volume. In addition we use a large amount of money to add to Uniswap liquidity to prevent dumping.

We do a lot of AMAs to market the project, attracting investors. In a nutshell, the RAKB is a token of a long-term project, but will also bring great returns to the short-term investor.

From : @Kvindvr

Huateng :
Q1 2021 we launch the application. Thereby interacting with the liquidity providers (LP) to provide liquidity to the protocol’s liquidity pool. LP will receive a reward (token). That reward could come from transaction fees generated by the basic DeFi platform or some other source.

From : @Kinami1313

Huateng :
Our smart contract and apps are written by teams of seasoned developers. Before they were deployed it was tested by security experts. So the possibility of being attacked is almost impossible. This ensures the safety of investors and those participating in the RAKB system

From : @Witch_doubt

Huateng :
RAKB is a token that increases farming productivity in the DeFi ecosystem. The token is an ERC20 token that runs on the Ethereum blockchain. Rakebit is used to pay rewards to token holders and liquidity providers. Thanks to that, it attracts a huge amount of capital to pour into projects.These are the core factors that make RAKB value

From : @maharanigis

Huateng :
This is a difficult question for all developers. However, we do believe in the Ethereum blockchain network. Future, If there is a blockchain network with advantages, We are ready to do research to migrate to the new blockchain network

Question from Telegram Free Asking
(Segment 3)

From : @AyD80
What is the most powerful feature that Rakebit Finance has to position itself against the competition?

Huangteng :
Our strength is application. It gives returns to liquidity adders, holders and investors. Our application at the cheapest cost, But quickly connects people who add liquidity with other DeFi ecosystems.

From : @Nickkiii
How important is the community to you? and how can we collaborate or help you for the development of the project?

Huateng :
Community is the core element of our project. They are the investors, also the marketers and also the users of the product. I think all projects will fail if they meet with public opposition.
Currently we also implement many marketing plans to bring the project to the community.

From : @bimasurya88
Liquidity has always been a major concern in trading, especially since DEX emerged. How does #RAKEBIT FINANCE keep liquidity levels stable?

Huateng :
We have paid listing fees before prelase for some exchanges, Prior to the release of the project, We received a grant from a partner. In addition, a portion of the proceeds from pre-sales will be used to add to liquidity. So the liquidity will be very large.

From : @siswa
some time ago the Rakebit website was attacked and of course this made investors worry. how do you solve the problem? and how can you convince investors that your project is safe, trustworthy and reliable??

Huateng :
This is a pretty good question, I would like to thank you for your question. I know You are probably an investor has joined our community.

A few days ago we had a Ddos attack on our website, which interrupted the website for a few hours. However, we have updated the firewall, upgraded the server, and fixed the issue.

As for the smart contract, it is absolutely secure, so the investor’s money will be safe.

We knew it was an attack from another project, they competed unfairly. They also slandered us for fraud. But we don’t care about that.

From : @selvi33
simple questiob, what is your biggest challenge at the moment ? How can you overcome this challenge ?

Huateng :
I think all projects are challenging. Our biggest challenge is the farming sector is a new field, requires fierce competition, requires many experts in finance and blockchain. We are hiring programmers in China, If you want to join our team, please contact me.

CLOSING

Well…We declare AMA’s Series BangPateng with Rakebit Finance, is Done. 🥳🥳🥳🥳

thank you to the participants who have attended this event to the end. the winners will be announced soon🥳🥳🥳

🔵 All social media:

🔹 Twitter : https://twitter.com/rakebit
🔹 Telegram_EN : https://t.me/rakebit
🔹 Website : https://rakebit.finance/
🔹 Info Confirmed HotBit Listing: https://hotbit.zendesk.com/hc/en-us/articles/360058504093