Kite Sync Summary Recap with Shin Chan Community
We held a live AMA with Kite Chef from Kite Sync on 11th August 09:00 PM (UTC+8). Here’s the recap for those who missed it.
Introduction
Serene: Before AMA start, can you introduce yourselves and the team background?
Kite Chef: Sure, You may call me Kite chef, I’m presently the owner of the Kite Sync.
Our core team consists of 2 peoples, 1 legal consultant and there is a team of 5 developers & designers working on it.
I and my friend who is in the core team have been in cryptocurrency and blockchain technology since last 4 years. I personally manage the product and my friend takes care of the marketing side as he is a MBA grad with a good experience in marketing.
Serene: Any latest/ update news about Kite Sync you would like to share with our community?😀
Kite Chef: For now I can say we are about to launch our yield optimizer in a week, currently auditing and testing phase is ongoing
AMA Twitter Section Begin:
Q1: Kite Sync is one of the visions for the future is to create products to contribute to the Defi space and thus maximize profits, when you talk about creating the products that you refer to and what function will this product have to maximize the Profitability of finance?
Kite Chef: The first product that is about to come that is yield optimizer will help in maximising the profitability while farming or staking a token. Our smart contract strategy will auto-compound the earnings. Resulting in a compound interest based incentive to maximise the user’s profit.
Q2: Could you explain to me what the community voting system of the project consists of and how important is the native token within the voting system? How much is the minimum number of native tokens needed to participate in the voting system?
Kite Chef: Basically we will have a governance platform, there anyone holding even a single Kite Sync token shall be able to vote and suggest some new features. Here, if you hold more native token your voting weightage will increase.
Q3: can the FEATURES contained in KITE SYNC make a difference and an advantage over your competitor’s platforms? if so, name some of the BENEFITS of choosing KITE SYNC.
Kite Chef: Yes Kite Sync platform will definitely make a difference in empowering a lot of good projects that don’t have enough utility or liquidity or are missing out on a governance platform.
Benefits of kites :
- our yield optimizer auto compounds your earnings.
- our user interface and experience is much better.
- there is probably no any other project that offer a governance platform to other partner projects.
- we provide all this within a single ecosystem
Q4: audit is becoming a very important role to find out known bugs of smart contracts. for now can you describe how strong your security is? and have you done an audit by a third party?
Kite Chef: We are going to have a top notch safety and security, solid group and paledin sec are currently auditing our contracts right now. We are working with multiple auditors to ensure the best safety and security
Q5: What is the role of your token and project in the entire ecosystem? Will it act as a simple payment currency across all your products? Or will its holders have some interest or vote in project decisions?
Kite Chef: KITE token will be more than a simple payment currently, holding it will give you allocation for our Ido launchpad and you will be able to buy exclusive NFTs via our NFT launchpad.
Telegram Live AMA Begin:
Q6: Have all of Kite Sync’s smart contracts been audited? Who are the auditors you work with to secure the entire platform? Can we review the inspection report
Kite Chef: Our audit is ongoing with solid group and paledin sec, we are working with multiple auditors to ensure the best security and yes ones the audit is done the reports shall be public.
Q7: Kite says 80% of the revenue generated by NFT sales shall be used to buy back and burn KITE token. This is amazing, can you tell us how this buy back be done? Will it be done manually or automatically using a smart contract?
Kite Chef: It will be automatic whenever we sell an NFT on our NFT launchpad a buy back and burn of 80% of the revenue shall be made, we are planning to make sone sales followed by buy back and burn every week
Q8: Is Kite sync has seperate platform for taking votes, feedback and suggestions from Kite token holders and investors ?
Kite token and ecosystem is based on which chain network ? Is there any plan in future to launch on other chain also ?
Kite Chef: No there isn’t anything separate the governance platform is a part of the whole ecosystem.
Our ecosystem is currently based on binance smart chain and yes we have plans to launch on other chains as well
Q9: I see, Yield Optimizer is almost ready for the public,
can You tell us more about it?
With Yield Optimizer, How can Anyone earn Compound interest?
What other features are in the pipeline?
Kite Chef: Basically in our yield optimizer anyone can stake LP tokens basically provide liquidity to a token on a dex and whatever rewards are generated shall be compounded, in simple words users will be able to earn compounding rewards, or compound interests automatically
Q10: This is Q3 of this year…
Did you launch yield optimizer and staking platform according to your road map❓
Kite Chef: Q3 is ongoing and yield optimizer launch is there in next 1 week our yield optimizer and staking platform are under testing at the moment
Q11: As a novice user, the main concerns I have when I want to be part of a project and its benefits, is to know, how transparent, secure and scalable is the project in general, So, regarding these 3 points, how important are they for #KiteSync , have you taken actions to comply with each of these issues, Could you please tell us a little bit about this?
Kite Chef: Kite sync is a totally transparent project, all our smart contract are public and codes can be seen by anyone. For security we are already having multiple audits with public reports and I can assure you our platform is extremely scalable without any compromise in User experience
Q12: Can you tell us if the Yield optimizer is almost getting ready and undergone any testing or auditing since it will be launched in the next 1 to 2 weeks and before the IDO and listing?
Kite Chef: Yes it will be launched before the Ido
Q13: Staking and Yield Farming mechanisms of projects attract a lot of attention for investors to earn passive income. Can you tell us about the passive income opportunities that Kite Sync will offer to investors and its advantages over other alternatives?
Kite Chef: Yes kite Sync has staking platform and yield optimizer, you can even earn compounding rewards with our platform
Q14: Many projects like Kites focus on enhancing blockchain technology to make NFT assets more useful, but really, why focus Kite only on these types of assets? Will soon all the fungible crypto assets be forgotten and only the NFTs will be used?
Kite Chef: No with kite these all won’t be forgettable, you can always stake our NFTs and earn extra reward
Q15: How is Kite Sync’s security? Do they have a protocol to protect themselves from fraudsters or hackers? How can they guarantee the security of their users? Do they have any audits? Which companies have audited or will audit them?
Kite Chef: With our ongoing audits we will make sure to have top notch security. All our audits are being done by solid group and palendin sec. ones done all reports shall be public
Q16: In one your tweet You mentioned that Kite Sync will launch new products soon. So please tell us about those products and what are the main utilities that you offer from the products that you will launch?
Kite Chef: Yield optimizer, staking platform, NfT & Ido launchpad and governance platform are sone of our products.
There are several utilities of our token like it can be used for voting, participating in launchpad sales and staking is another utility
Q17: Kite Sync is one of the first crypto projects I read that will care about user experience. Can you give us examples of how you are applying this? Can even an inexperienced person make their first investment?
Kite Chef: Yes an inexperienced person will even be able to use it, we will share our first product in next 1 week where you can truly experience it
Q18: i can see Kite Sync is a new and progressing project. Do you have any marketing plan to attract more VC and investor?
Kite Chef: Yes we have an ongoing marketing campaign with regular AMAs being done and we will be starting off with our Twitter campaign as well
Q19: What is the intended use of your $KITE token? Will it be 100% required to buy NFTs or will you accept other tokens as well? From when and where can we start buying $KITE? What are the benefits of investing in $KITE right now?
Kite Chef: Yes it will be required to buy NFTs you need to hold a certain number of tokens to participate in our NFT and Ido launchpad sales.
With KiTE you can participate in launchpad sales, stake your tokens or provide LP and earn compounding rewards.
Q20: 📌End of the this year, Kite Sync has planned to launch NFT staking and establish multi chain support.
❓Sir can you explain about that multi chains?
Kite Chef: Yes we will release our DAPP on multiple chains like polygon, KCC and much more initially we will be on BSC only
Q21: Currently the governance models of some Defi projects do not work as they would like, and community feedback is not really taken into account. What innovations does Kite Sync offer to optimize this?
Kite Chef: We will make sure to implement all community feedbacks which are voted by the holders.
Q22: Can you tell us about, What security strategy do you have in addition to auditing..??
And what marketing strategy are you planning to use and how are you going to attract new users to “Kite Sync”..??
Kite Chef: We have an audit ongoing with solid group and paledin sec.
Our marketing is ongoing with a lot of upcoming AMAs and Twitter campaigns as well
Q23: How does the feature of collecting NFTs to earn work, can we use any NFT we have to Staking and earn KITE as you say, or should NFTs be exclusive to you guys?
Kite Chef: Anyone can buy our NFTs and stake them to earn rewards
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