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HomeNewsRecap AMA Crypto Hunters X Farm Yield

Recap AMA Crypto Hunters X Farm Yield

 

On November 21, 2021 at 01.00 PM UTC In the Crypto Hunter Telegram Group, AMA started with Farm Yield as guest speaker and Huda from Crypto Hunters as moderator. When campaigning, 5 lucky AMA participants when asking questions on Free Asking will get a total prize of $100.

The following is a summary of AMA questions and answers announced by the moderator and guest speaker:

Introduction:

Before we start the first session, can you tell us about your background? @lovedivin

Basically I am a software developer and entrepreneur.
I have been active in crypto from 2016 and have since and became a contributor development from 2018

I also have a computer science and health information background

Okay sir, first question
1. Can you briefly explain what FarmYield Token is? We want to know more about it and how does it work?

Farm Yield is an agricultural based project that is into the production of farm produce.
FarmYield Token is the utility token of the Farm Yield ecosystem. With the FarmYield Token, users can stake in the various vegetable, food crop, poultry and livestock farms of their choice as these farms are being cultivated.

The staked tokens will be locked for duration that particular vegetable or food crop takes to reach maturity for harvest. Eg a cucumber farm takes up to about 40days. So users who stake in the cucumber farm will have their tokens locked for 40days after which they will be able to unstake together with their rewards.

Staking in a farm will only be available in the first week of the start of that farm after which no more users can stake into that farm.

The token also will serve as the fuel of the Farm Yield marketplace where food manufactureing companies and other vegetable retail companies can shop for our farm produce and have it at a discount. This companies must hold at least 10% of the of the value of goods they want to buy in the FarmYield Token for at least 20 days in order to get the produce at a 2% or more discount.

Again the FarmYield Token is the credit token for our agric game and NFT store.

Users can also provide loans to farmers with the FarmYield Token and a percentage of this loan provided will be used as an insurance cover for loan.

Lastly a percentage of the FarmYield Token ecosystem profit will be allocated to charity organizations to help fight hunger will regions across the globe.

2. What are the main features of the FarmYield Token that set it apart from other projects and what competitive advantage do you have?

The competitive advantage we see in the FarmYield Token is that it is being backed by real world use case which is farming. And so long as every human on earth eats at least once a day, we have a market that covers the entire world population unlike most project where only a section of the population is the target.

Our products are readily needed products by every human and this make us unique.

3. Can you tell us about the benefits for investors to hold your token now?

User will receive good rewards for staking their tokens.
Also the FarmYield Token ecosystem has a lot of activities that will help keep the price up.

Our plans and activities does not encourage dumping of tokens but rather encourages users to holdl. This will create speady growth and increase in price.

One of such is frequent burning of tokens with the first token burn in just 2 months from now

 

Also the maximum supply of the FarmYield Token is only 800million
As more and more tokens get burned, this will cause spike in price.

Also the locking of staked tokens will create temporary reduction in circulation supply and this will create a spike in price. As more and more farms run simultaneously, the more tokens will be locked and the better it will get for token holders

Again token holders can win more tokens by playing games on our platform.

Token holders who want to be retailers of farm produce from Farm Yield will be able to do so with their tokens and get a massive discount.

Also not more than 50million of total supply will be in circulation at an point in time

This we believe will bring a lot of benefits to holders

4. DeFi, Staking, Yield Farming and NFT are hot topics right now in our crypto space. Does FarmYield Token have a long-term plan to support these themes?

Yes FarmYield support all these features and are part of our road map

5. I heard that FarmYield Token will be launching your own Farm/Pools soon. What is the difference between Farm/Pools here and Farm/Pools in other projects?

In FarmYield, farm pool will operate just like the already known farm pools. However, we intend to make it more profitable in our case and to cut down loses by giving the opportunity to those who participate in farm pools to still be able to participate in the staking of various farms to earn from that also

(Sessions 2 Questions From Twitter)

Huda SAN:
First Question from twitter
1. Partnership is always an important factor for every project. So who is #FarmYield_DeFi partner? What are the benefits you get from those relationships???

Perfect || Farm Yield:
Currently we have partnered with a non crypto based company.

They will be one of companies to be buying our farm produce and selling it. This means, we produce what is readily needed and are sure we won’t sure post harvest losses dure to lack of ready market.

We are in discussion with 2 other global brands too

In the crypto space, we currently have completed 3 negotiations and 4 more are on going
One of the completed negotiations will provide us with infrastructures to become readily available on 6 other networks aside the current bsc network where we launched

The details of each of this partnership will be announced when both parties have agreed on a date to do so

Huda SAN:
2. #FarmYield_DeFi platform is able to generate a huge amount of data speaking about users preferences, strategies and behaviors. Are you already using those data? Do you plan to use them in the future as an additional source of profit?

Perfect || Farm Yield:
Currently we do not have that because we don’t have a Dapp yet

However we would only use data from our platform users only for the purposes of enhancing our application to create better user experience in accordance to international regulations.

Huda SAN:
3. The biggest challenge facing projects right now is related to the current market conditions. So, can you explain the reasons why users and investors should participate in the long-term development of the FarmYield ecosystem?

Perfect || Farm Yield:
Unlike most projects that do not have real use cases and so are very speculative, farm yield has a real world use case.

Once farms are running, there will be constant burning of tokens at most every 3 months. A dump in price of tokens at any time will only create room for team to be able to buy more and burn

This is because, low token prices mean less money can acquire more. Hence more burning from time

This will create huge scarcity and price serge.

Investors who holdl will be the long term winners

Huda SAN:
4. #FARMYIELD project id a local project or a global project? Can anyone use #FARMYIELD services from anywhere in the world? Are there any restrictions of using #FARMYIELD service?

Perfect || Farm Yield:
Farm Yield is a global project and anyone can use our application from anywhere in the world except for countries that have regulations banning crypto currencies and its related activities

Users are therefore to check with their local regulations and be adviced based on that

Huda SAN:
Ok sir. This is a last question from twitter 😁

5. Most investors are looking for short-term profits. They will sell the token as soon as it is listed on the exchange. So does #FarmYield_DeFi project have any plans to prevent investors from selling tokens early?

Perfect || Farm Yield:
The plans to discourage users from selling early is all in our presentation

No user will like to sell quickly knowing they will be missing the next organic spike in price due to token burns, locking of staked tokens and the good rewards that comes with staking

(Sessions 3 Free Asking)

 

Q1: @luckyboy0305

For a project development first of all main priority is having enough fund. Does your team financially capable to run this project? Do you have enough fund for it’s developement Can you tell us that how your project generate the profit?

Answer:

Yes we have enough fund for the current phases of the project.
In future development, token allocated for development will be used to finance development

With respect to profit, profit from Farm cultivation is our main source of profit for now

Q2: @HoaDoang70
🌲🌲🌲🌲🌲🌲

On your docs, I read the farming rewards will be very attractive in the early stages to attract liquidity to project, yet, will decrease over time and stabilize, can you briefly explain to me what’ll cause the rewards to decrease in the future? How will you stabilize them then?🌲🌲🌲🌲🌲

Answer:

No the farming rewards won’t really decrease. The rewards will decrease from time to time but that will be directly proportional to token price. That means the higher the token price, the less tokens will be rewarded but the value will almost be the same

Q3: @Juifull7
⚽⚽⚽⚽⚽
What is your listing strategy, Could you give news of being listed on the new Exchange soon? Are there any exchanges you are talking to?

Answer:

We are currently in negotiations With 4 exchanges. At least 2 will list our token before 2022

Q4: @HeldO70
🧙‍♀️🧙‍♀️🧙‍♀️🧙‍♀️

Will you plan to raise the awareness of project in regions that English is not well-spoken? Any local communities to bring them better understanding of your ecosystem?🧙‍♀️🧙‍♀️🧙‍♀️🧙‍♀️🧙‍♀️

Answer:

Yes that’s why we choose cryptohunters as one

Our next AMA is with a Chinese based crypto group

Q5: @HeldO70
🎅🎅🎅🎅🎅

What are the security measures that have been made so far to make the platform secure from hackers as the hackers are now a days getting more stronger to stole the data of the investors?🎅🎅🎅🎅🎅🎅

Answer:

Security is a very important factor for us. We have there decided to only used tested and verified codes in our development

We share these little piece of codes with the international community of developers to also test and provide feedback before we use. This we believe will help reduce vulnerability

The other way is letting audit firms test and audit our codes

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