Kahoobb: Hello everyone, welcome to our AMA with bacc finance!
Kahoobb: I would like to welcome @TheeRichy97 and @Bacc_Moon!
Marcus MadTrell: ☺️
Kahoobb: Let me know if the whole team is here! For who will be joining today.
Marcus MadTrell: Richy will be late, I will be doing the beginning till he is ready
Marcus MadTrell: Birthday and all that!
Kahoobb: Awesome, sounds good!
Kahoobb: So please give an introduction of what bacc finance is for our readers!
Marcus MadTrell: Bacc.Finance is a NFT community based project that will be used to create ongoing financial rewards powered by our native token Bored.
We have a lot in the works to bring new innovative ways to make financing entertaining and rewarding at the same time! All while promoting community wide growth.
Marcus MadTrell: Thank you very much for having us! We truly appreciate having the platform to reach even more Crypto enthusiasts.
Kahoobb: That’s great to hear. It definitely sounds like your team is hard at work on launching new and more features! That’s always a great sign in a strong project.
Marcus MadTrell: We are, thank you! We are constantly looking to grow our team and building a sustainable way to build a strong project with support from all over the world. Bringing us together as much as possible to create a truly unique community experience and product.
Kahoobb: That is awesome! So I have a few questions about your project, are you ready to dive into them?
Marcus MadTrell: Absolutely, I’d love to take a crack at them.
Kahoobb: Okay great! So in the past NFT’s have had their price driven by quality of artwork. How does Bacc.Finance plan on differentiating itself from the classical NFT marketing structure?
Marcus MadTrell: Thank you, yea in the past many projects have see their price rise due to the quality of their artwork and renown behind them. We like to be a little more down to earth and put the value behind their utility or the functions that they can bring to our ecosystem.
Our first project was Bored Ape Cronos Club, from there we as a community have been driving the project. We have a second release currently in minting – Croyote. That will be a completely original project as opposed to the beginning derivative project.
Going forward we have already gotten a artist who is willing capable and eager to work with community members to create truly unique pieces and we have the development team to back them to bring many use case and exciting market solutions to the current well established marketplace Or as I’d like the say the marketplace of the past.
We are anything but classical and we will continue to drive innovation and collaboration forward on the highest degree possible.
Kahoobb: Great to hear that you have a very dedicated and passionate team!
So there is a maximum of 2000 bonds to be created. How does Bacc.Finance plan on being including going forward even after they are all minted out?
JuicyEgg: We would like to add another speaker to the conversation @baccfinance the Developer of Bacc.finance!
Marcus MadTrell: We started out with the intent on being easy to enter for the average everyday crypto user, new users etc. We don’t intend on changing that stance. We will have new ways to enter into Bacc even after the bonds are completely minted.
We have already come a long way and entry for some of the original projects released has already risen very high compared to the beginning point. We certainly don’t want that trend to die out. For example the Croyote project will have their use case; and it will be unique, and exciting!
The Bonds will be the backbone of our project while we ramp up and are able to develop our next steps thoroughly with care. When our next steps are ready for release they will have easy entry points to allow newer members to the community to join in.
Bonds will also always be purchasable even after they have been minted out. The value will rise of course, however their intent will always be to finance and fund our community driven projects.
Kahoobb: Baccfinance dev has been added 🙂
BACC KING: Hey @TheCronicleNews Thank you very much for hosting this text ama with BACC finance today.
Marcus MadTrell: Bacc is the Head dev and the Founder of Bacc.Finance, Thank you for joining us!
BACC KING: I want to touch on bonds @Kahoobb
Kahoobb: Go right ahead!
BACC KING: Why I believe it’s the next level in DeFi Yield.
The bonds are comparable to a variable annuities but Defi.
Nothing is guaranteed in the term of reward you can receive me how often you can receive them
But here is why we think our model works compared to Cronodes
Or other DeFi as A service projects
The Bonds are part of a circular economy that we have in the BACC community.
To purchase BACC or bored token, you face a tax that is used to fund the USDC auto rewards, liquidity and of course the bond program.
This is the key that makes us different from other projects, we are taking an outlook as a government would
We have taxes in place to support the bond program
Kahoobb: That is very helpful information! Wow these bonds sound very interesting, I am very intrigued.
Marcus MadTrell: Thanks Bacc, Appreciate you chiming in with some deeper insight there!
BACC KING: Bonds are pretty cool because they are also NFT
Kahoobb: On that topic of NFT, What utilities does Bacc.Finance plan to bring to their NFT’s; furthermore what solution does Bacc.Finance bring to the open market?
BACC KING: Well our Bonds pulls in the utility
Marcus MadTrell: Thanks For asking! The bonds are one of many of the utilities we have planed.
We have in the works an internal Marketplace to allow us to add some new feature to the marketplace for buying, selling and trading NFT’s.
BACC KING: You can use your BACC Gen 1 to boost your bond rewards
Marcus MadTrell: We have in the works a New way to go about staking that include other rewards. Providing an innovative touch on the staking utility for NFT’s that are proven.
BACC KING: This has created a huge demand in the low ranked BACC NFTs
Marcus MadTrell: We also and this is where I am extremally excited as a way to give bacc .Pun intended. Have developed a method to support NFT projects that don’t have utility. To give back we want to save these projects that have not gone anywhere and are wasted investments. Recycle, Reuse, and repurpose.
Kahoobb: The bonds are great utility. Wow! an internal marketplace sounds very interesting. And that is amazing of bacc finance to be helping out other cronos nft projects and investors bring in more utility and value to their nfts.
Marcus MadTrell: Thank you Kahoobb! I agree; it’s what really makes us a community and how I can see us always having a place in the current marketplace with so many Less useful NFT projects
Marcus MadTrell: I want to reiterate. These projects are based on crowed sourced material. We always want to give our community a reason to continue working with us to the benefit of our end product.
BACC KING: All on https://bacc.finance/dashboard
In our future development roadmap
Kahoobb: What is the value of purchasing a bond? Why should an investor hold a bond over the native coin?
BACC KING: A bond is an NFT that works like an annuity
It pays in bacc token everyday
Also if you hold our OG golden apes, which was given out for free to the community, you face no taxes, your essentially tax exempt.
Kahoobb: Amazing! Good to know.
BACC KING: I think our golden OG (only 780 supply) will be comparable to a mad meerkat nft when our ecosystem develops
Kahoobb: For someone who doesn’t understand yield farming or bonds, can you explain what bacc finance exactly is and what it does to help investors in layman’s terms?
Marcus MadTrell: Apologies on interrupted replies on my side. Computer burped.
Kahoobb: No worries!
BACC KING: Bacc finance is a yield aggregator that leverages protocol owned liquidity, and assets like gen1 bacc NFTs, our Croyotes, and our Bacc launchpad to reward bond and bacc holders.
Marcus MadTrell: As we like to say “Things go better with Bacc”
Yield farming. It’s the process of gaining larger yields in that local currency to overall gain a larger portion of the investment.
This can be risky as whales can take a large amount out of the project of their profit yields to ensure their safety in the investment.
The largest difference here is we will not be releasing all our supply into circulation behind the bonds. We will be diluting a little bit however most will be held for our future projects.
In this yield farming instance, the rewards will be coming from the buy & sell tax. As well as resell royalties and claim tax.
Some of these tax’s are going to be subvert-able by owning an og ape.
Bonds in laymen’s terms is a promise to repay you for lending us funds upfront.
We have taken the concept to nft’s, created the repayment to be forever and will be incorporating the bonds into our future.
We also devised a boosting plan where we will relist your bored ape nft for sale earn a profit to further fund the bonds and the boost rewards.
We are borrowing your money to fund payments to Og holders, fund the project going forward, refund the bonds, and fund the team to develop into the future.
Overall this locks more away increasing the TLV.
What Bacc.finance brings to you is new utilities to nft’s, new solutions to market place problems
Kahoobb: Amazing! I will definitely be looking to get some bonds after this! I like everything I’m hearing.
Is there anything any of you would like to add before we move to our community questions?
Also please share your projects social medias here before we open up the chat and questions so people know where to find your project!
JuicyEgg: Fb: https://t.co/djUX9BHxl6
BACC KING: Thank you our main community is on Discord
Thank you so much for hosting us
Marcus MadTrell: I hope to see you in the community and anyone else taking a read. I appreciate you providing this space for us to open up and reach your loyal followers. I give my word I will treat each of them with respect and hope we get to work together on many more projects going forwards!
Again thank you!
Kahoobb: Awesome! Thank you for sharing.