Jimmy the Hypnotist, Crystl.Finance‘s Marketing and Community Lead, and Crypto Light, Crystl.Finance‘s Project Management and Social Media lead, dropped by to talk to BugzKG about the exciting stuff they have been working on and to take some questions from the community. To celebrate the AMA, five members from our community who took part in the question-and-answer segment at the end were selected to win $15 in $CRYSTL each, totaling $75.
If you would like more information about Crystl.Finance, please visit their website at https://cronos.crystl.finance/vaults and their Twitter at https://twitter.com/CrystlFinance.
BugzKG: Welcome to our AMA with Crystl Finance. I’m joined here today with @jimmythehypnotist and @xCryptoLight
Jimmy the Hypnotist: Hello everyone! Very excited to be here and tell you all about Crystl Finance 💎😊 and thank you @BugzKG for having us
Crypto Light: Hi there everyone! 👋 Really thrilled to be here! 😊
BugzKG: So excited for you to be here! Before we get into the interview, I want to let our audience know that during the interview you are muted, but we will open the chat up for questions after. There is $75 in $CRYSTL being given away to the top 5 questions. Please pay attention and come up with great questions for the project!
Can you tell us about the Crystl Finance Team and your roles?
Jimmy the Hypnotist: Crystl Finance has a very wide and diverse Team. I handle the Marketing and Community and CryptoLight who is joining me is our Project Manager and Social Media Lead. We have over a dozen other members who run our Business Development, Technical, and Graphic departments 😄
Crystl Finance is also a premier partner of ApeSwap Finance, one of the leading Decentralized Exchanged on Binance Smart Chain, and 2 of their core members, Obie Dobo and Harambe Nakamoto, are Advisors for our Smart Contracts and Features 💎🍌
BugzKG: Definitely a strong team here! ApeSwap is great to work with. 😎 What products does Crystl offer to users?
Jimmy the Hypnotist: Oh for sure, we love those Apes 🙂
a. Crystl Finance is now on both the Polygon and Cronos Networks 😊 Our main product are our Crystl Vaults which allow users to exponentially increase their rewards on LP farming by auto-compounding their rewards and restaking them for maximum earnings 💎 The best part is this process happens automatically, so users can stake once and passively earn High APY rewards which greatly grow over time thanks to auto-compounding. Cronos.crystl.finance
On Polygon, in addition to offering High APY Crystl Vaults we have Crystl Pools which allow users to stake $CRYSTL and earn major and non-native Cryptos including $BTC, $ETH, $USDC, and $BNB. We have dozens of these Pools on Polygon and aim to have Crystl Pools set up on Cronos in the future. Polygon.crystl.finance 💎
Crystl Finance also offers bridging to and from Polygon to Cronos thanks to our friends from RelayChain. You can now bridge our $CRYSTL token to and from Cronos. https://app.relaychain.com/#/cross-chain-bridge-transfer 😎
BugzKG: Amazing! Yes. You were originally named PolyCrystal when we first worked together for PolygonTimes. Definitely impacted the Polygon Ecosystem in a positive way. What made you decide to move to Cronos? Why bridge?
Jimmy the Hypnotist: Yes we originally launched as PolyCrystal and decided to rebrand to Crystl Finance when we decided to look at Cross chain options 💎
Polygon has been great for Crystl, but we saw a large opportunity with Cronos especially with it’s backing from Crypto.com. We want to be able to provide investment opportunities for all styles of investors, and with the potential that Cronos has to become a major chain, it made sense to extend our product offerings over 🙂
A main goal of Crystl Finance is to bring DeFi to the masses and make it accessible for users who have no idea how DeFi works. Our vision aligns with Crypto.com’s who are making DeFi more accessible than ever before, and we look forward to improving Crystl’s reach and growth and helping even more people passively earn Cryptocurrencies in a way that is transparent and secure 🔥
BugzKG: Great! Yes. Your values definitely align with Crypto.com. 😊 You’ve already made quite a few partners on Cronos. Can you tell us about the major partnerships and their details?
Crypto Light: Absolutely! I can answer this 👍 Our very first partners on Cronos are Relaychain.com (http://relaychain.com/) and Crodex.app (http://crodex.app/)
Relaychain is a top-tier, cross-chain DeFi bridge prover that makes it easy to transfer crypto between Polygon and Cronos. They have already made our $CRYSTL token available to be bridged, as well as some others like $MATIC and $POLYDOGE and more.
Crodex is a leading decentralized exchange and AMM on Cronos. They also have incentivized farms for liquidity providers, for example you can provide $CRYSTL – $CRO liquidity to earn $CRX, the native token of Crodex with a high interest rate.
We’re working very closely with both Relay and Crodex with one goal in mind: To grow the Cronos ecosystem! In this partnership, Crystl Finance has the role of generating leads for both partners, and so with their help we will streamline the process for many other projects to transition into Cronos from other networks! Partner tokens will be made available on the Relay bridge, and Crodex will spin up a lucrative farm on their exchange.
In turn, Crystl Finance will create an auto-compounding Vault for everyone of these partner farms. We already have one for $POLYDOGE – $CRO! Polydoge is our first partner to take the leap into Cronos with us 😎 Vaults are really awesome for our partners as they provide positive buy pressure on their tokens.
We have other partnerships in the pipeline, with CronaSwap, PhotonSwap, as well as Dexpad with a similar idea. Essentially we are covering every possible avenue, whether partners want to bridge their token or launch a new token. Crystl Finance will be right there to facilitate that process and make it happen. 🚀 Its a really exciting time and we’re thrilled to have an opportunity to take this sort of leadership 🙂
BugzKG: Looks like you have a great plan in place! Love all these partnerships. We’ve worked with all of them. Just yesterday we had an ama with PolyDoge here and they shouted Crystl Finance out. 😊
Jimmy the Hypnotist: Oh yeah we love the guys from PolyDoge and are so glad to have them with us on our Cronos Journey 🥳
Crypto Light: We absolutely love Polydoge, would love to shoutout them back! Hi Polydoge!! 😁
BugzKG: Most definitely! 😊 Moving onto another interesting piece you mentioned, your vaults. Tell us about your Crystl Vaults. How do they work and what makes them different from competitors?
Crypto Light: I’ll try to keep it simple here for those who are not familiar with Vaults. Vaults are the easiest way for you to passively earn crypto. Literally deposit and forget, completely hands free after that. Not only that, but they offer higher interest than farms! This is because of exponential interest, I will explain…
For example, say you are providing $CRYSTL – $CRO liquidity on Crodex and this is earning you $CRX tokens. What you can do is instead take those $CRYSTL – $CRO LP tokens to our Vault, and instead of earning $CRX. You will just earn more $CRYSTL – $CRO! The vault automatically sells your farming rewards on your behalf ($CRX in this case). $CRX is sold for $CRYSTL and $CRO, those are paired together, and re-deposited back in the farm by our smart contract. So you are automatically reinvesting your earnings without worrying about doing it manually. Literally while you sleep you can just keep earning your favorite cryptos.
Crypto Light: As for what makes them different… Let me just get into that briefly.
- We work closely with our partners to get the best Vaults out for you for as many lucrative farms as possible. At the end of the day, we want Crystl Finance to be a platform that lets you explore many different options and ways to earn.
- Our vaults have a performance fee, 5% of all rewards accumulated by our Vaults goes back to support our $CRYSTL token. Not to spill the beans too much, but we are currently investigating how we can use this revenue best to reward our $CRYSTL shareholders.
Its an incredible time for Crystl Finance as our Vaults have been quite successful from day 1 launch on Cronos and Crystl is becoming a platform with a revenue based in actual profits and just not emissions!
BugzKG: Thank you for explaining what vaults are. We have a lot of newbies and any information helps! Passive income is always good to have. Love how rewards go back to support the token.
Speaking of your token…$CRYSTL is now available on Cronos too, correct? Is this the same token as Polygon and what benefits does it provide for Cronos users?
Crypto Light: Oh its my pleasure! I strongly believe spreading information is the best way the entire space can succeed.
Crypto Light: And yes, $CRYSTL is now available on Cronos. It is the same token. We chose to bridge the token from Polygon instead of launching a new one because we believe this is the best model to have a single asset that can appreciate in value and benefit from multiple networks. Currently, Polygon and Cronos. We love our community and investors and so we are dedicated to bringing benefits back to them instead of starting a brand new independent token.
Currently on Cronos you can provide liquidity for $CRYSTL paired with $CRO on Crodex and use our Vault to grow your investment with a nice interest rate.
We are working to add more farms like this with some other partners. But more than that, everyone can expect some awesome benefits in the coming months from the revenue of those Vault performance fees which will directly benefit those who are shareholders of our protocol ($CRYSTL holders). That much I can say right now 😉
Of course, Cronos users can bridge their $CRYSTL to Polygon at any time and enjoy earning with our Pools or Mines on Polygon as well 🙂
BugzKG: Of course! Have to keep some things secret. 😉 Can you tell us about Crystl Finance’s security and provide your Audit?
Crypto Light: For sure! We take the security of our community very seriously. All of our smart contracts are transparent, audited, and built upon only the most battle-tested code. We have never suffered any exploit, and our team takes extreme measures to ensure that your experience is safe and secure.
You can find our audit here (https://polycrystal.gitbook.io/polycrystal-finance/security/audits), and read about our Vault security here (https://polycrystal.gitbook.io/polycrystal-finance/security/v2-vault-security).
BugzKG: Thank you for providing that. It will definitely ease our investors minds . 😊 Anything else coming down the pipeline that you would like to share before we start the question portion?
Jimmy the Hypnotist: We have some cool features coming up for $CRYSTL users 🙂 We are working on implementing Zap functionality for our Vaults. This allows users to go from a single asset to an LP staked in the Vault with one transaction! Instead of having to take $CRO, sell half for $CRYSTL, then pairing the 2 tokens, and staking in the Vault, they could do that in one transaction with either token from the LP 🙂 additionally, they could do the same when unstaking from the Vault to have the LP split, or swapped into one of the two tokens staked 🙂
We are also working to have governance for our $CRYSTL token. This means that $CRYSTL holders will be able to vote on proposals and decide future implementations for Crystl Finance 😊💎
Crypto Light: Just want to pitch in here and say, our Crystl Zap will be really beneficial to new users and aligns with our agenda to be a platform that strives for mass adoption. With many users from Crypto.com coming into Cronos DeFi especially, this can make a big difference.
Governance is also such a big step for us, as it will really allow every shareholder of our platform to have a voice and be part of the decision making process driving the platform to success. 🚀
BugzKG: A governance token is great for the community. I really love your long term plans and goals for mass adoption. Before we start the question portion of the AMA, can you please share your socials so everyone knows where to find you?
Jimmy the Hypnotist: Here you go 🙂
- Website: https://cronos.crystl.finance/vaults
- Twitter: https://twitter.com/CrystlFinance
- Telegram: https://t.me/CrystlFinance
- Discord: https://discord.gg/2wr78YvU
- YouTube: https://www.youtube.com/channel/UCzg0zBiYixyqJ_IcuRut_aQ
- Whitepaper/Docs: https://polycrystal.gitbook.io/polycrystal-finance/
BugzKG: Check them out guys!! 👆 CrystlFinance is also listed in our Cronos Project Directory. If you’d like to support them, you can go give them a vote and a comment! https://thecronicle.com/cronosprojects/
Jimmy the Hypnotist: We are also happy to have more members of the Crystal Crew 💎❤️
BugzKG: Okay I am now going to unmute the chat for a few minutes and give the community a chance to ask questions. After that time is up, @jimmythehypnotist and @xCryptoLight please go ahead and choose 5 questions to answer. Take you time. We ask that you add a 💎 emoji to your question to avoid bots. The winning questions will receive $15 $CRYSTL each. @jimmythehypnotist @xCryptoLight are you ready?
Jimmy the Hypnotist: Let’s do it 😎
Crypto Light: Ready! 💎 including gem emoji is an excellent way to take care of those pesky bots!
BugzKG: Let’s go!
Community Question #1
J. Marin: Hi Jimmy & Crypto Light, You always talk about innovations and achievements in a project, is Great!. But Crystl Finance has presented limitations or obstacles in terms of expansion to Cronos? If so, how could it improve for expansion to other major chains?💎
Jimmy the Hypnotist: Our launch on Cronos has been going quite well! As we start to look at further expansion and if we decide to go to other chains, the main thing we are focusing on is adding features to our Vaults and implementing unique and innovative products to really make Crystl Finance stand out from Competitors 💎
The Future is $CRYSTL Clear at Crystl Finance and we are so excited to keep building 😎
Community Question #2
BWhales: How your plan to spread awareness about your project in different countries? Do you have local communities for them to let them better understand about Crystal Finance? @xCryptoLight @jimmythehypnotist💎
Jimmy the Hypnotist: Great question 🙂 we have over 10 international communities to help our Crystal Crew grow and be able to assist users in their native languages. You can find all of our International Communities here: https://polycrystal.gitbook.io/polycrystal-finance/resources-and-social-media
If there is an international community you would like see added to the Crystl ecosystem, please reach out to me 💎❤️
Community Question #3
Crypto Eser: Could you tell us a little about the core team? How did everyone come together to build out the vision? 💎
Crypto Light: @Skye0600 You can read about our team here (https://polycrystal.gitbook.io/polycrystal-finance/polycrystal-team). We like to take things easy, so enjoy the humor on there! 😁
Our team is comprised from members all over the world, in the true spirit of DeFi 🌎! Its actually amazing how the project has come together. In a way really its a community driven project, many of our team started of as enthusiasts and investors of $CRYSTL but our passion led us to joining the team full time ❤️ and we all work hard to make Crystl Finance succeed because we are part of the community.
Our founders have close ties in the ApeSwap community, and decided to start Crystl Finance on Polygon. We actually still work with ApeSwap and advisors such as Harambe and Obie are quite active on our team!
We have a business development team that grows partnerships, or tech team that builds the website and our smart contract protocols, and our community & marketing team that carries the torch and spreads the word and education about Crystl Finance! 💎
Community Question #4
Steven Mook: One of the things I love about you guys on Polygon is that you are beginner friendly. The matic faucet was really helpful to start pairing and calculating what needs to be there, will you be doing that with CRO?📋💎
Crypto Light: Really glad that you enjoy the accessibility of our platform 😊 We believe everyone should have a chance to get started on a new chain or have a place they can get help if they run out of gas.
We are indeed working on a CRO faucet! ❤️
Until its available, you should know that our partner Relaychain will actually airdrop you some CRO when you use their bridge. This way you should have enough to do a swap and buy yourself some CRO to use for gas 👍
Community Question #5
$ $: I’m new to DeFi and it honestly been a bit overwhelming to try and learn. The upcoming zap feature will be very useful to get LP pairs from a single token. How much $CRYSTL will there be? 💎
Jimmy the Hypnotist: It can be overwhelming when first getting into DeFi, but Crystl Finance has you covered 😊 we have a Crystal Clear Education Series to help you learn the ins and outs of DeFi: https://polycrystal.gitbook.io/polycrystal-finance/crystal-clear-education/fundamental-tools-for-success 💎🥰
We already have $CRYSTL liquidity on https://swap.crodex.app/#/crx and have a bridge set up for users to bridge $CRYSTL from Polygon to Cronos so liquidity is always increasing 🤩 $CRYSTL also has a soft cap of 12.5M tokens and gradual emission reductions to fight inflation and make sure $CRYSTL becomes more scarce as time goes on ❤️
BugzKG: That’s 5 questions!! Thank you so much @jimmythehypnotist and @xCryptoLight for taking time out of your day to tell us about your project! It will be interesting to see how your project grows! The recap will be posted tomorrow! Feel free to stick around and answer any more questions if you’d like! It might be late there too, regardless have a great day/night! 😊
Prize payments will be made by the Crystl Finance team.
Crypto Light: Thanks so much for having us BugzKG!! It was a pleasure to join here! I am always keeping an eye on the Cronicle nowadays, its a great way to find new projects like Crystl Finance 😉
Jimmy the Hypnotist: Thanks again for having us @BugzKG 🙂 and thank you all for being a great audience! I hope you all come join the Crystal Crew 💎❤️
BugzKG: Thank you everyone for attending our AMA! I hope you all learned something new! Cronos is growing everyday! Have a great day/night! 💎 I will unmute chat now!