SHIBSC Summary Recap with Shin Chan Community
We held a live AMA with Operation Manager of SHIBSC , Leigh on 3rd June 09:00 PM (UTC+8). Here’s the recap for those who missed it.
Introduction
Jack | ShinChan: Before AMA start, can you introduce yourselves and the team background?
Leigh : The core development team has 7 people from the US, Japan, and Singapore. The team members are early Ethereum developers back to 2017 and has extensive DeFi development experience.
We keep pushing out new features and products. The reason is simple : we have a strong tech team behind the project. One of them is a senior expert in the field of virtual machines, who independently developed EVM and WASM virtual machines for multiple chains. Two of them are solidity senior experts. One is doing code audit for CertiK remotely. Two of them are experts in terms of development of cross-chain DeFi products and have participated in the development of three influential mainstream public chains.
The main members of our marketing team is from another successful project. As the operations manager, I am based in Europe and mainly provide services to investors from EU, US and Middle East.
Recently we hired more people considering the exponential growth of the community members.
Jack | ShinChan: Do you have any news/update about SHIBSC would like to share with us?
Leigh : Let me start by providing some facts. Number matters:
CoinMarketCap：56000 likes
Coingecko：3490 likes
28500 holder addresses
Twitter: 64.5k followers
Telegram：56349 members.
We are also exposed by media:
BNBSwap:https://twitter.com/BNBSwap/status/1393363354232655875
BSCDaily：https://twitter.com/bsc_daily/status/1398697392417894401
Now we have our largest aridrops: https://coinmarketcap.com/currencies/shiba-bsc/airdrop/
We teamed up with CoinMarketCap and launched it few days ago. From the tech side, we are developing “Oracle” since we are security experts. Most of the attacks recently are caused due to the security issues of the “Oracle”.
Our experts decided take the security as our first priority. Here is our analysis of the PancakeBunny attack: A review of how Pancakebunny was hacked and our solution on how to prevent it.
With a more secure and reliable Oracle. It would be very helpful to mitigate the potential security isssues. This is our current focus. Of course, NFT marketplace, NFT Games, and Toolbox are under development.
Actually, due to our success, we are also mentioned by the SHIB.
AMA Twitter Section Begin:
Q1 : There are many different NFT services and product alternatives for NFT-focused projects. How will the SHIBSC project use the wealth of the NFT world and what services will it provide to meet all the requirements of NFT enthusiasts?
Leigh : Our NFT product is not only for the artists and collectors. It does not only have the collection value but also can be used as a utlity token. Our BlockChain Toolbox, NFT Game, and even Oracle will use the NFT as the utility token. The transactions of NFT marketplace will burn more SHIBSC token, making the tokens more valuable.
Artists have the freedom to show their talents and collaborate with us to promote both art and technology.
Q2 : Could you tell us about the NFTs that can be developed in SHIBSC, what opportunities will these represent within the ecosystem that you have developed and how will you ensure that each collection that comes out is as successful as possible?
Leigh : Well. Today mos talented artists need the platform to show their talents to the world. We have a large community who will bring real investors to the artists. Meanwhile, our platform will promote the selected collections from best artists.
Q3 : $ SHIBSC At launch, 67% of the tokens have been burned and the remaining 33% of the tokens will be provided to the liquidity pool and permanently locked. do you plan to continue burning the token?
Leigh : Now ~70.22% tokens have already burnt. The tokens in holders’ hands are more valuable. There are numerous ways to burn more.
To name a few, we have the following mechanisms:
- Toolbox: All tokens will be burnt except the cost (for example, token creations will consume some BNBs…)
2. NFT Game: significant portion of tokens in the prize pool are burnt.
3. Oracle : All earnings from this will be burnt.
Q4 : Regarding your “RFI Static Rewards” feature, how is the process for holders to earn passive rewards? What exactly is static reflection all about?
Leigh : I see. Most people are confused about the RFI mechanisms. Basically, when you query the number of tokens in your wallet, you see a number.
For RFI mechanism, that number actually is a math formula and dynamically calculated. If you are a holder of our tokens, you will be allocated more tokens due to the transaction tax we collected.
Q5 : About the TOOLBOX feature on your website, I saw that it has a “Create NFT” feature, how is the mechanism for making it, what is the minimum total supply?So do you have any NFT examples built on the SHIBSC platform?
Leigh : We will have the NFT marketplace soon. The artist will have the opportunites to create and upload their NFTs into our platform. The details are subject to our terms and conditions.
You can consider the NFTs in the Lucky Pet Game as our first batch of NFT cards.
The minimum total supply are subject to the artist and our platform. We will support features such as bid, trade, multiple copies…..
Telegram Live AMA Begin:
Q6 : Where can I use your token and What are the benefits for the holder?
Leigh : NFT games, Blockchain Toolbox and NFT marketplace….And anything in the future…
Like BNB for Binance .Just hold and collect more transaction tax
Q7 :I see on your website there is a “LP PRICE CHECKING” feature, what is the use of this feature? how to use and what are the benefits for users?
Leigh : As a miner, after you stake the LP and provide the liqudity. Its value is dynamically changing and subject to impermanent loss. Our tool will give the real time info about your LPs.
Q8 : SHIBSC is a great project..but we know that sometimes the token gets burned and it increases the token’s value. Does your token have any Coin Burn / BuyBack system, or do you have that plan to increase the value of your token and attract investors to invest?
Leigh : Transaction tax (6%) + all products provided in our platform will burn MORE and MORE.
We have a series of marketing events to attract more investors.
Q9 : What do you think the future trend of DeFi is? What is the biggest flaw that DeFi is currently facing? And is your SHIBSC Project looking to solve that problem?
Leigh : The future of defi is to be fair, transparent, low-cost, effective, dencentralized and secure.
All the services will be running on smart contracts. You don’t need to worry what’s going on with your money in the bank.
You are the real owner of YOUR money and your money is in YOUR wallet.
Security is the biggest concern. That’s why we focus on our “Oracle” product.
Q10 : Currently many projects are attacked. SHIBSC please share related information such as audit, source code on github, bug bounty … of the project?
Leigh : CertiK report is what we have. CertiK provides the best audit service and is the most expensive one, as far as I know.
Q11 : Which crypto/fiat currency can we use to invest in $SHIBSC? And in which currency the profit paid to the Investors?
Leigh : Everything. You can always convert your crypto/fiat to BNB and buy Shiba. All profit will be paid in SHIBSC and you can easily sell them back to $.
Q12 : ⚛️ You describe SHIBSC as the twin brother and sister of SHIB. So, are there any differences between SHIBSC’s products and SHIB’s products? If you evaluate it from an objective point of view; which one is better?
Leigh : Lucky Pet is where you can the NFT cards. NFT marketplace will be launched soon.
Q13 : What is so special about SHIBSC compared to other projects? Can you give some reasons to convince users to choose SHIBSC ?
Leigh : We have a strong team behind the projects and a fast growing community. The SHIBSC technical team has developed a number of popular DeFi products in just half a month
The burning mechanims has burned more than 3% of the total tokens in half a month, making the token more rare and valuable in the future.
With more and more products, we will see SHIBSC will be the popular utility token and will be applied to more and more scenarios. Of course, more valuable.
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