AMA RECAP : CRYPTOSCAPE xGOLDFARM.

9 min readJun 2, 2021

Hosted by — Cryptoscape
Date: 31–5–2021

🏠Venue : @CRYPT0SCAPE

📢 GUEST: Team Goldfarm

We recently hosted an AMA with GOLDFARM, on 31May at 3 PM UTC. So here we are up with the AMA transcript, for those who missed the live session, this post will be a time saver & a feeder of knowledge for them.

INTRODUCTION.

Sahil Seth:
Q1 Can you introduce yourself and your team to our community and tell your crypto story?

D C 🏴󠁧󠁢󠁥󠁮󠁧󠁿:

So, I am DC and I am the lead Admin @Goldfarm. I have been with the project from day 1 of the launch and it has been a great journey so far!

We have a great team consisting of 5x developers and 20 + Admin and Mods.. They are all very hardworking team and believe in our mission to become #1 Farming provider by 2021.

Sahil Seth:

From how long have you been into crypto and what’s your specialization at ??

D C 🏴󠁧󠁢󠁥󠁮󠁧󠁿:

So I have been in crypto for around 4 months and I would say that my skill set lies in project management, however since we have been planning for the marketing campaign I also have realised I have somewhat of a skillset in being creative :)

Sahil Seth:
Q2 What is Goldfarm all about explain it along with use cases and why you felt the world needed a product like Goldfarm

D C 🏴󠁧󠁢󠁥󠁮󠁧󠁿:

Ok so Goldfarm is all about giving users the opportunity to earn passive income through our innovative FaaS protocol and allow for new and existing projects the ability to create farms in just a few clicks.

Not to mention our planned NFT farming and marketplace.

Goldfarm is innovating the way in which the farming pools are hosted to benefit every single participating party into the ecosystem.

Users get the benefit of earning various tokens, or simply earning LIFETIME rewards in BNB and ETH using our Infinite Pools.

Projects seeking to get their pools hosted on Goldfarm get exposure to massive audiences and engagement to their native asset.

Goldfarm gets exposed to thousands of new investors seeking a passive income in ETH/BNB or those who simply want to farm various tokens using our innovative FaaS protocols.

Sahil Seth:

How to earn lifetime dividends in eth or bnb share in the link if available Wed tell all the conditions

Join in her everyone https://t.me/GoldFarmChat

D C 🏴󠁧󠁢󠁥󠁮󠁧󠁿:

Ok so we have lots of farms at goldfarm.io but we have two pools which give users the opportunity to earn passive income for life.

All farms except the ones mentioned have a 1% tax to enter thus the 1% tax from entering a farm is converted to fbnb or feth and distributed once a week to the BNB and ETH pools.

Users deposit $GOLD and earn BNB or ETH and because there is no limit to the amount of taxes generated the rewards pool is infinite :)

Sahil Seth:
Thnkz a lot for mentioning it guys wanna earn a nice passive income you have a chance to buy Goldfarm (available at pcs and uni ) and stake
Q3 Have you planned your roadmap if yes could you share in the same if not share us some things likely to happen in the near future?

GOLD BSC: 0xd0f653aD03ca32A792AbFA6d6711cdf1311e5d9D

GOLD ETH: 0xf1b8762a7fa8c244e36f7234edf40cfae24394e3

Since we already have a working product, now is the time to launch marketing and continue development of more innovative farming protocols, as well as enhancing the ones we currently host (for eg; Infinite Pools). We plan to become industry leaders in seamless user-experience when it comes to interacting with farming pools.

We also plan to develop and deploy our own NFT marketplace.

However, if you want to check out the official roadmap head to the link below:

https://goldfarm.io/dashboard/road-map

Sahil Seth:
Q4 What is the transaction fees charged to buy $GOLD on both exchanges from your end explain it with the help of detailed tokenomics?

D C 🏴󠁧󠁢󠁥󠁮󠁧󠁿:

$GOLD token does not utilize a tax on transaction code. You pay whatever fee the exchange charges you for transaction (gas, liquidity provider etc.)

The farms have a 1% fee on entry and the tokens received from that are distributed in BNB and ETH Infinite Pools, as rewards to all that deposit $GOLD in those pools.

So far, the rewards have been significant and they grow exponentially as more and more farms are added. Each farm will contribute to the reward amount increase in Infinite Pools.

Sahil Seth:
Q5 Could you tell all the farms which are active at present and share in there end date and what kind of assurance you offer in case of the platform you partnered with rugpulls?

D C 🏴󠁧󠁢󠁥󠁮󠁧󠁿:

The list of farming pools and their specifications are too long to be answered here, especially when they can easily be seen on goldfarm.io

About assurance, I will explain…

It’s simple, for now and until we deploy an Automated Deployment System, we will manually review all projects within the team.

After we deploy an automated system, we will create two categories of pools on website.

One category will only list team-approved and verified project pools.

Second category will list all automatically deployed pools (anyone can do it), and a warning will be shown on that tab, indicating an unapproved and unchecked pool being hosted by a 3rd party, users then will be able to continue with their risk and responsibility.

Sahil Seth:
Alright so when are you planning to deploy automatic deployment system??

D C 🏴󠁧󠁢󠁥󠁮󠁧󠁿:

This currently be worked on and we envision this to be launched within the next month :)

Yeah we really are about more than just the standard farming provider! We plan to be the #1 farming provider and we know that to get there you have to bring innovate productions/ services to the ever growing DEFI space! The whole team is committed to the vison 🙌🏼

TWITTER QUESTIONS.

Sahil Seth:
Q1 Since you are enabling cross chain so actually how would this work in the long run and how you plan to address the issue that people would buy from one chain at a much lower price and dump it on the other? @Romandj82

D C 🏴󠁧󠁢󠁥󠁮󠁧󠁿:

That is only technically possible if we decide to allow a crosschain swap of our token.

So far, we don’t plan on doing that and both chains are separate, with crosschain bearing the definition of such app or platform, which Goldfarm already is.

Sahil Seth:
Alright can you tell a bit about it like governance and all are you truly democratic??
I guess you could take up this question :)

D C 🏴󠁧󠁢󠁥󠁮󠁧󠁿:

We plan to implement that feature when we deploy the Automated Pool Deployment protocol, for now, the core team reviews all operations manually and acts upon the decisions made within the team, for the best interest of our users, the 3rd party project and GoldFarm :)

Sahil Seth:
Q3 You are planning to make a yield farming platform and with that comes the risk of inflation so how plan to tackle it?? Also tell do you have any sort of remedy available to save flash loan attacks???
@SaymaAzmin

D C 🏴󠁧󠁢󠁥󠁮󠁧󠁿:

Yield farming is sometimes referred to as staking and it will not cause inflation because Goldfarm does not have a GOLD — GOLD pools its always Token X earning token Z and Y so there’s no inflation.

The tokens are never minted they are deposited in from the existing supply into the contract.

Do you mean this part?

“8.6% of the token’s supply is in the Pancakeswap pair. 50% of liquidity is unlocked and claimable by the team at any time. The other 50% of liqudity is locked for 5 months. We advise re-locking the unlocked liquidity.”

If so , the remaining 50% of liquidity is unlocked in order to get listed on FegEx (as their primary partner), we’re just waiting for FEG team to finalize their exchange :)

The currently locked 50% of liquidity for 5 months will obviously be re-locked again after the end period. It was set to 5 months to avoid Pancakeswap update glitches and issues that many projects became victim of during the upgrade :)

Sahil Seth:

Yes thnkz you finally understood that was the point seeing which I included that question :)

Q4 You say nfts could be traded at your platform without any code so when are you planning to launch your platform and can you reveal some details about some of the features of that platform
@Rockydj834

D C 🏴󠁧󠁢󠁥󠁮󠁧󠁿:

We are planning to deploy an NFT marketplace and eventually make an automated system that will not require users to code anything themselves, the details will unfold as the development stage approaches the end 🙌🏼

Sahil Seth:
Q5 Can you tell the advantages of Goldfarm as compared to other defi protocols in terms of cross chain , yield farming and nfts ? @Saksham2648

D C 🏴󠁧󠁢󠁥󠁮󠁧󠁿:

Goldfarm protocols have enabled users to earn frictionless rewards even while participating into the pool, The protocols we have developed have enabled users to utilize our innovative 3 in 1 farming pool, earning multiple tokens with one, and Goldfarm has made a passive income pools with no expiry date, our flagship Infinite Pools.

Also, as mentioned earlier we plan on bringing new innovative ways to the DEFI space as a whole! We want all of our community to get the best experience they can :D

LIVE AMA QUESTIONS.

How is $GoldfarmIO development going? Can you describe current development status, market expansion plans, expected applications?

D C 🏴󠁧󠁢󠁥󠁮󠁧󠁿:

Goldfarm development is going really well. We have passive income farms with infinite rewards, we have 14 new farms coming everyday for the next 14 days of the marketing campaign.. YES 14 NEW FARMS COMING STARTING TODAY !!

We have auto deployment coming and we have an NFT marketplace that is going to be like no other so subscribe to our official channel for all of our latest developments and way to earn!

https://t.me/goldfarmio

Goldfarm became the exclusive FaaS partner of the FEGs. So, what value has this partnership added to your ecosystem?

D C 🏴󠁧󠁢󠁥󠁮󠁧󠁿:

So as you are aware FEG is a huge community and is leading the way with revolutionising the industry with new ways of rewarding the community and holders! This means with us being exclusive partners with them we get access to over 100,000 community members at the time of writing this! However, the main reason we chose to be exclusive partners with them is because they share the same ethos as us and have a similar mission. We are a community project and we want to provide for them ❤️

When describing GoldFarm, you mention that you are a community project and your greatest asset is the community. So, how do you reward your community, do you offer a mechanism to make them feel valued?

D C 🏴󠁧󠁢󠁥󠁮󠁧󠁿:

We are a community project and what a great thing that is! So we keep our ear to the ground and are always listening for what the community wants and as long as that aligns with our mission we are happy to do what the community desires..

In terms of rewarding them we have competitions running all the time, cash giveaways, and we provide huge $GOLD bonus on selected farms… FYI — some of the 14 new farms to come have huge $GOLD bonus’s so do not miss them!! 🤑

Your project has great features., There must be an experienced team behind., Can you tell some about your team and their experiences in the market??,”Where can I purchase this token?

D C 🏴󠁧󠁢󠁥󠁮󠁧󠁿:

The team is great and have been in this space a lot longer than myself! They are experienced and creative and with that you get what you see before you! A sustainable project with innovative products that provide for the community. 👊🏼 Also, without them we would not be where we are without them, so much love to them and keep doing what you are doing 🙏🏼❤️🙏🏼

Asia Africa and other communities are Non-English speaking, communities., How will your project create global adoption to more local communities?

D C 🏴󠁧󠁢󠁥󠁮󠁧󠁿:

Yes we have local communities across the world as we are underway with our global expansion so check them out. I have added all socials in there as I am aware that there are quiet a few questions about them :)

Official:

🚨 https://t.me/goldfarmio

🌎 https://t.me/goldfarmchat

🗺 https://t.me/goldfarmsupport

Community:

https://t.me/goldfarmarabic

https://t.me/goldfarmafrica

🇨🇳 https://t.me/goldfarmchina

🇩🇪 https://t.me/goldfarmgerman

🇳🇱 https://t.me/goldfarmdutch

🇫🇷 https://t.me/goldfarmfrance

🇧🇻 https://t.me/goldfarmnorway