KafeBarista, Kafe Finance‘s Business Development Lead, and KafeMaster, Kafe Finance‘s Lead Developer, 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 10 $KAFE each, totaling 50 $KAFE.
If you would like more information about Kafe Finance, please visit their website at https://cro.kafe.finance/#/ and their Twitter at https://twitter.com/kafefinance.
Kafe Finance Interview
BugzKG: Welcome to our AMA with KafeFinance. I’m joined here today with @kukafeBarista and @kukafeMaster! ☕️
KafeBarista: Hi @BugzKG very glad to be here
BugzKG: 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 50 $KAFE being given away to the top 5 questions. Please pay attention and come up with great questions for the project! Okay let’s begin…first off can you introduce yourselves to our tg members?
KafeBarista: Alright i’ll go first. I’m kafebarista and I lead mainly the business development, partnerships and everything else apart from the development for Kafe Finance
KafeMaster: hi i’m kafemaster, lead dev for kafefinance project. we started on kcc, then movr, then now we are on cronos, sharing our amazing tools with yield farmers in defi 🙂
KafeBarista: with my partner kafemaster here, we’ve been in the crypto space for several years now and have seen many projects come and go in this space around the different chains like ETH, BSC and matic. And we thought we should bring our contributions to the public, so here we are
BugzKG: Amazing! Love your experience in the crypto space! Can you tell us about your project? What is Kafe Finance all about?
KafeBarista: well Kafe Finance aims to be the one stop shop for all yield-farming needs and more on cronos.
We believe that we provide the best and most optimized yield farming strategies and have developed tools to help out with that, like our portfolio and zapper. Both of which I believe are the first of its kind for the Cronos ecosystem so we’re very excited and happy about that
BugzKG: A one stop shop sounds exciting. You first launched on Kucoin Community Chain (KCC) with KuKafe, then to MoonRiver, and most recently you expanded to Cronos. What made you decide to go multi chain and what benefits did Cronos give your project?
KafeBarista: We saw much success and adoption with our launch on KCC and we also learnt a lot about the launch process as well as running the project. And to be honest we are as good as our community is, fortunately we have a really strong one built with the help of our 2 community volunteers. It is our community that actually encouraged us to expand to moonriver and since we decided that a wider range of people would enjoy our products
KafeMaster: multichain gave us opportunities to have a wider reach, to witness the growth of new chains from scratch, forge new partnerships, there really is much to learn from everywhere.
KafeBarista: so here we are on cronos, a budding ecosystem, we’re really excited to see what can come out of this
BugzKG: Very exciting! Can you explain the features and benefits of Kafe Finance? What sets you apart from other yield farms?
KafeBarista: I would like to say that Kafe Finance on moonriver and cronos is not a yield farm anymore. We have gone through our emissions and have a maxed capped supply of slightly under 100,000 tokens. Kafe finance at its heart is an auto-compounding service provider but since our early days we have developed and built powerful tools like our Zapper to help users of our platform go about their farming needs in a much quicker and better fashion
Now to our familiar users, they would already know how it works but i’ll just go over briefly how zapper is game-changing. Zapper ⚡️ enables 1-click asset conversion between tokens, tokens to LPs, LPs to LPs and vice versa. on top of that, it is also a liquidity aggregator. It finds the best possible swap route with the lowest slippage to ensure you get the best value out of your Zaps
Did I also mention that it does it across DEXes? Doesnt matter which token you’re trying to zap, it finds the best route across Dexes that we have integrated to our zapper. I’m also sure many are familiar with our portfolio dashboard, the one and only dashboard on cronos that tracks a multitude of farms as well as our vaults
BugzKG: Zapper sounds really innovative! And across DEXes too? Nice!! For those not familiar with the portfolio dashboard can you share a little bit more about that? Why is it such a benefit for people to be able to track all your farms and vaults?
KafeBarista: Yeap, till date we’re the proudest about the Zapper development and we also hope that it has changed many of our user’s lives and how they go about with their farming methods. Our portfolio dashboard is a simple way to have a quick glance at your total assets, how much ROI you’re earning per day as well as checking the prices of the tokens that you hold. I would imagine that if you were farming all over the place in the many dexes and farms in cronos today, it can get kind of messy. And that’s where our dashboard comes in handy, who knows you might even find money stashed in some farm/ vault that you forgot about
BugzKG: That’s really powerful!! Being aware of your total assets and ROI is great for all our busy schedules. Newbies take note! Dashboards are a great thing! Hidden money is always a plus!
KafeBarista: for those unfamiliar it looks like this 🙂
KafeBarista: there’s even a little privacy function so I can safely take a snapshot like this to share. rockets on the page allow 1 click migration to suitable vaults on our platform and if you click on the token icons under wallet assets, they give you a multitude of functions. Including charts, swap and adding the token to your metamask.
BugzKG: Love it! Visuals are always good! Plus a user friendly interface! Definitely worth checking out. 😎 Moving onto another hot topic. Can you explain how $KAFE works? How does one acquire $KAFE? Your native token?
KafeBarista: $KAFE on moonriver and soon to be bridged to cronos by our partner Relaychain has unique tokenomics. Learning from our experience on KCC we decided on a low cap, short emission schedule as such:
- max capped supply: 95,832 $KAFE
- Each sell of the token results in a 4% tax, 2% goes towards adding to our liquidity pool and 2% goes to reward LP holders
- formation of KAFE-X LPs are also taxed, unless they go through the zapper, so just Zap to get KAFE-X LPs
- The utility of $KAFE today comes in the form of profit sharing but we have multiple other use cases for it in the future.
KafeBarista: Today before the bridge is up, you can acquire $KAFE through the Moonriver network and partake in profits that are already being shared there. On Cronos, you’ll just have to hang tight and wait for the bridge to be up 🙂
BugzKG: Hang tight guys!! $KAFE will be here soon! 😊 To grow on any blockchain it’s important for projects to partner with one another. Any exciting partnerships you care to share? You mentioned Relay Chain for bridging, anyone else?
KafeBarista: Partnerships are definitely important, and to date you can see that we have forged great partnerships with most of the tokens that we have listed on our portfolio and vaults that we have implemented. Cronaswap has a boosted vault and Crodex has included our portfolio on their main webpage (an awesome honour for us) and more to come
KafeMaster: partnerships are a large part of our focus in expanding the reach of KAFE. it can come in many forms:
listing on kafefinance portfolio, integrating with espressos, or taking part in espresso boost! Espresso boosts are one of the creative ways we help partner farms reward their LP providers with a short term boost in rewards, it was been quite well-received thus far. You can literally boost the farm with any erc20 compliant token 🙂 Who doesnt love some extra APY?
KafeBarista: boosted vaults look like this 🙂
BugzKG: Nice! I love the term espresso boosts. Exactly. Who doesn’t love some extra APY? ☕️ Moving onto another important topic. Security is important to token holders. How will you ensure your project is safe to invest in? Have you been audited? Or are there future audits?
KafeBarista: Yes our project has been initially forked from the battle tested code of goose and eleven finance and we have been audited by obelisk audit. They’re extremely thorough and awesome people to work with
KafeMaster: As we develop more features, we will be conducting more audits on our smart contracts
BugzKG: Sounds great!! Audits and battle tested code is always good to hear for investors. What are your future goals for Kafe Finance? Anything exciting down the road?
KafeBarista: definitely exciting stuff coming, let me upload our roadmap
KafeBarista: you can see that we already have 2 ticks on our new roadmap after we burnt through the previous one in like 2months.
Many of our community have asked about governance and we are looking to implement that aspect using $KAFE tokens. We believe that a community driven token will take kafe finance even further and are excited for that to happen. Right now the portfolio only show you the current snapshot of your assets, but we would like to incorporate some charting functions to display the historical performance of the portfolio over time as well. We believe that can help the user make better farming decisions moving forward
Ultimately, we are looking at fund management enabled by $KAFE tokens as part of the end game. We are currently working out the details as it is not a trivial development and we will share snippets and sneaks whenever we are ready to do so. but that function enables anyone to enjoy the returns of having a diversified portfolio and also partake in investment opportunities otherwise would not have been possible
BugzKG: Wow!! So many exciting things to come! Love the governance aspect and also charting to make well informed decisions. 😊 Before we begin the question portion of our ama, can you share your socials so people know where to find you and research your project themselves?
KafeBarista: oh this is my favourite. Link to all relevant information for kafe finance can be found here 🙂 and yes those are emojis https://y.at/☕️☕️🚀 Cronos documents are work in progress but the moonriver documents will suffice for products launched on cronos
BugzKG: Check them out guys!! One stop shop for all their socials! For KCC, MoonRiver, and now Cronos. ^^ Kafe Finance 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/
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, @kukafeBarista @kukafeMaster 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 5 winning questions will receive 10 $KAFE each. 🤯@kukafeBarista @kukafeMaster are you ready?
KafeBarista: yeap ready
BugzKG: Okay unmuting the chat now! Let’s go! ☕️
Community Questions
Community Question #1
Wilny Wilhelmina: The market in the upcoming dynamic season will be quite volatile, most investors will be less active in the last days of this year, so Kafe Finance plans to organize any upcoming events to make it more exciting than the market year end or not? ☕️☕️☕️
KafeMaster: Yes the market is volatile, people come and go, but we will still be here building and providing important defi tools to everyone. We do have some events planned, in the past we have done meme competitions, we have a series of AMAs in these few weeks, and we do have something interesting being planned behind the scenes. The goal is to help people know about kafefinance and learn about the useful platform.
That said, merry christmas everyone 🙂
Community Question #2
A.R.R: Do you have tutorials such as Youtube videos for help users, how to farm, stake, swap token, buy/sell on Kafe finance? So that we can know your project more clearly. Would you mind to share it with us? ☕️☕️☕️
Good question here, we do not have youtube vidoes but our documentation here detailed our products like zapper, portfolio and vaults are pictorial and they should guide you to the usability of our products. https://kafefinance.gitbook.io/kafefinance/v/moonkafe/info/products
otherwise please do join our TG to ask and our helpful community would be more than willing to help, also sharing a video here on the Zapper 🙂
Community Question #3
$ $: I’m new to DeFi and I love the Zapper! It makes creating LPs so easy! There’s nothing more fun than seeing how much I’m earning per day on the dashboard. What’s your plan to get as many other new Cronos DeFi users?☕️
KafeBarista: We’re glad that you love the zapper, it was created with that sole purpose to bring the ultimate convenience. No more having to bring out the calculators and all. We are actively marketing our zapper through our marathon of AMAs as well as other marketing plans coming up. We also rely on word of mouth of our community, spread the word on the Zapper and how it has changed the way you go about everything DeFi, that to us would be the most powerful form of marketing and how we can attract new cronos users to the Zapper
Community Question #4
JOHN BARNES: At the moment, all tokens go down in price even with great partnerships, hype, marketing, and working products, etc. So, what the challenges do you have and the plan to make your project strong popular? Are you see it as an opportunity while the current market decline? ☕️☕️☕️☕️☕️☕️
KafeMaster: we believe in the long term value of crypto and defi as a whole, and price action will not deter our delivery of products. Looking at the roadmap posted earlier, those products will roll out 1 by 1 regardless of the price action. We strongly believe in providing value to our users, imparting the value to our token, and naturally investors will want to buy/hold KAFE. This AMA and others are ways to let other know of the project, but we do not want pump-and-dump marketing that injure the true believers of kafefinance.
Community Question #5
Crypto: What gives the value of $KAFE ? What is the role of it in your ecosystem? Could you please mention some advantages of holding $KAFE in the long-term? and what is your target till end of Q2 of 2022☕️
KafeMaster: KAFE token is used as a profit-sharing mechanism through kafeshares live on MOVR right now. We have around 30% of KAFE supply staked and locked receiving part of the platform profits.
In future, KAFE will be given governance properties to allow the long term supporters a say in the development of the project. Also, with it’s limited supply, the exclusive club of kafeshare users might just get some secretive-alpha-seeking tool 😎 who knows what surprises we can spring 😁
when in doubt, look at our roadmap 🙂 sneak peaks and surprises await
BugzKG: That’s 5 questions!! Thank you so much @kukafeBarista @kukafeMaster for taking time out of your day to tell us about your project! Multi chain projects are always interesting to hear about.
The recap will be posted tomorrow! Feel free to stick around and answer any more questions if you’d like! Or if anyone wants to go over to their TG or other socials, I’m sure they’ll love to chat. It might be late there too, regardless have a great day/night! 😊 @kukafeBarista or @kukafeMaster will DM the winners and ask for your addresses. Prize payments, 50 $KAFE will be made by them. Please be patient as they are insanely busy. Once completed we will post the tx ids here for transparency.
KafeBarista: thanks for having us @BugzKG
BugzKG: Thank you everyone for attending our AMA! I hope you all learned something new! Have a great day/night! ☕️ I will unmute chat now.