ApePrince, Project Lead of ApeFarmer, dropped by to talk to ☆CryptoGirlfriend☆ 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 a share of prizes worth $250!
If you would like more information about ApeFarmer, please visit their website at https://apefarmer.com/ and their Telegram at https://t.me/don_key_finance.
☆CryptoGirlfriend☆: Today we have @apeprince from Ape Farmer with us to answer questions. I will be muting the chat during the AMA while the interview is being conducted. Once I am done with my round of questions, I will open up the chat for a few mins for everyone to ask their questions. ApeFarmer will then select 5 of the questions asked by participants. The first 5 questions they answer will win $50 each. ($250 total).
Let’s get started! Welcome @apeprince. Can you please introduce yourself and give us an overview of your project?
ApePrince: Firstly, Glad to be here! Our team really appreciates the opportunity for myself to represent Apefarmer. I am Project Lead for ApeFarmer and my responsibility is to keep the momentum moving with development and marketing. I have personally been in crypto since 2014. I have a professional background in crypto for Project development/solidity development and outside of crypto also in project development.
☆CryptoGirlfriend☆: It sounds like you have been in the crypto space for some time!
ApePrince: Apefarmer is an advanced multi-chain yield aggregator, currently built on Binance Smart Chain, with extensive token utility that we will get more into during the ama. For sure, mined bitcoin on 3 laptops in my Dorm. Just wish I knew it was going to $100k then 🙃
☆CryptoGirlfriend☆: Don’t we all! So you have built ApeFarmer on the Binance Smart Chain. Is the yield aggregator and token already launched?
ApePrince: It is not. We are finished with our smart contracts, but we are still waiting to launch our IDO with starter.xyz at the end of this month. We are finishing up some polishing of our UI and waiting on our second audit.
☆CryptoGirlfriend☆: I had a feeling it was not active because when I go to your website there were no APRs listed.
ApePrince: Correct, that information will be available once we start the farms up.
☆CryptoGirlfriend☆: Exciting times, a new IDO to get into soon! Can you tell everyone about your token and the utility it will provide. Why would they want to participate in your upcoming IDO?
ApePrince: The $APEF token is our reward/governance token that incentivizes using our yield aggregator. Individuals can use their already owned tokens and liquidity provider tokens to autocompound their yields with the bonus of receiving the $APEF token. The $APEF token can be used in a variety of ways. We have a governance system (dao) that holders can use their weight of staked $APEF to cast votes and vote on changes to the protocol, as well as participate in our NFT auctions, and our Lucky apes Lottery.
Of course there is also the option to farm with $APEF, $APEF/BNB, and $APEF/BUSD to earn rewards IF you do not want to farm with other tokens.
This is your chance to get on the ground floor of a yield aggregator, if you look at other successful yield aggregators such as pancakebunny or pancakehunny, you are now up 50 to 100x from the IDO price.
So we are creating a fine tuned machine that will produce great profits for new and experienced crypto users.
☆CryptoGirlfriend☆: Obviously we all know getting in on the ground floor of any “safe” project will typically yield good initial results. I see you were audited by Tech Rate already. What other security measures are you taking or planning on taking to ensure user funds are SAFU?
ApePrince: Great question. So we are taking security of the platform and our investors funds very serious. We are having a second audit done by WatchPug (its in progress) and we will be having a 3rd audit with Certik after launch. Additionally we have upgraded web security & will have a bug bounty hosted by ImmuneDefi.
Its also important to note, that we DO want new crypto holders to have a easy experience on our platform, so we will have a tutorial section on how to use it, and how to keep their funds safe.
We want everyone that is in the ApeFarmer community to have a good experience using the platform and to do it safely.
☆CryptoGirlfriend☆: I do like the look and feel of your website design. It’s very inviting and I look forward to trying it out upon your launch.
ApePrince: Thank you, we are constantly making improvements and changes!
☆CryptoGirlfriend☆: I find the most successful projects on BSC have established partnerships with other projects. Is this something you are working on and if so can you tell us a little about those partnerships?
ApePrince: We definitely believe that partnerships is a huge factor in growth of a project. So far we have partnered with Babyswap, Buffaloswap, Starter.xyz (our ido launchpad), and Assure.defi (our kyc partner). We do have some major partnerships to announce AFTER launch, but we cannot release information at this time per NDAs signed from our side. Let’s just say “Apes together… Strong”, this might be a hint some people can pick up on.
☆CryptoGirlfriend☆: Well this helps to build up anticipation! You mentioned at the beginning that you were responsible for marketing. Can you tell us your long term plans to help promote the project and attract new users to the platform?
ApePrince: We strongly believe in organic growth. This is why we have worked with teams such as BSCTimes and have tried to avoid heavily botted promotion projects. As a yield aggregator our main goal is to exponentially grow the Total Value Locked (TVL) into the platform. So our main goal is to make partnerships and connections with as many Decentralized Exchanges as we can, to market our Vaults. We also will be collaborating with apeboards , dapp radar, etc to advertise our protocol to individuals who have yet to see it (they require the project to be launched). We also want to have multi-language communities built out for the chinese, japanese, russian, etc, which we are actively communicating with community builds as we speak (its hard to make legitimate connections on these cases, but we are doing it). Once our TVL begins to climb, we will begin to get the attention of farmers. The platform will grow!
☆CryptoGirlfriend☆: As a yield farmer myself, I appreciate long term sustainable farming opportunities. Do you have any details on the the IDO? Dates/times?
ApePrince: Right now, we only know it will be at the end of this month (more than likely the last day). We have a meeting with Starter.xyz tomorrow to discuss the time. One thing to keep in mind if you are new to launchpads, is you have to own and be staking their native token to participate. In this case, you must be staking 50 $START tokens to get in. We will hopefully have an announcement this week to make everything official.
☆CryptoGirlfriend☆: That’s good information to know! Can you please share your TG and socials so everyone can keep up to date once more information on the IDO is released?
- 🔹Website: https://apefarmer.com
- 🔹Twitter: https://twitter.com/ApeFarmer
- 🔹 Medium: https://medium.com/@ApeFarmer
- 🔹 News: https://t.me/apefarmer_news
- 🔹Whitepaper: https://apefarmer.gitbook.io/apefarmer/
☆CryptoGirlfriend☆: Everyone please join ^ Before we get into some questions from the audience, is there anything else you would like to tell us about your project?
ApePrince: I did forget to mention, we will be multi-chain. In the immediate future matic/ada/ava/sol with much more to come going into next year. Lots being built folks and alot to look forward to! Someone please ask me about our NFTS 😀
☆CryptoGirlfriend☆: Now it’s time for the audience questions! Pay close attention to the instructions for your chance to win $50. The chat will be on slow mode. In order for your question to be considered, you need to add in a monkey or banana emoji to your question. Questions without one of these emojis will be disqualified. @apeprince please select your top 5 questions to answer. Take your time!
Community Question #1:
J Marin: Whales always want to buy from IFO, IDO, ICO, IJO, IHO. So, how will you control the massive purchase of whales at IDO on ApeFarmer? Is there a maximum purchase quantity that is accessible to everyone?🐒🔶^
ApePrince: Great Question, and this is something usually overlooked and I have failed to mention in other AMAS. There will be a max purchase per wallet in the IDO and nothing that can dump the price. One thing that we did with our protocol is implement “Anti-Whale Measure.” Meaning that if you buy, send, or stake $APEF you can only do a certain amount in each transaction. This is to prevent, dumping the price, as well as to prevent exploiters entering and exiting VAULTS at quick rates JUST to farm the high apy at launch. We have not yet released the MAX purchase for the IDO, but it will come this weekend.
Community Question #2:
Milet: Will you have your own NFT MARKET place? Can you show us some sneak peek of your platform NFT? 🙈🙈🙊🍌🍌🍌
ApePrince: We will! And thank you for asking. One of that fantastic utilities of the $APEF token, is you will be able to bid on Genesis ApeFarmer NFTS each week. The NFTS will have utility that grants you partial ownership of the platform! This means that buy owning the NFT , you will earn a % of the fees created on the platform every month. We do have a updated article that talks all about it:
Community Question #3:
Clarasaktii🍓🌺: I see you just did an Audit with TechRate, But trading platforms are always the target of hacker attacks, so What are your plans about Security of ApeFarmer platform in next 3-4 months? 🙈🙊🐵
ApePrince: Another great question. So I went over security earlier, but I did not mention a few things. Yield aggregators in the past were targeted by exploiters using a Flashloan, basically they take out a significant amount of one token, buy your token, quickly farm, then sell it all in one transaction. Its pretty complicated, but its been done, and big yield aggregators have had that attack. The good NEWS is that we took the best ideas from these projects attacked and implemented them into our own. We will be utilizing Chainlink and anti-whale measure (min buy/sell/stake) per tx. Both of these strategies remove the vulnerability to flash loan attacks.
Community Question #4:
Janna 💖💗: 🐵🦍How do you plan to keep token valuable instead of getting people to farm and dump all? And do you think that your team has motivation to keep this farm up and going instead of dying?
ApePrince: This is a common concern for long-term yield farmers and it was of bigger concern for our team. To prevent this, we have auto-burning features fees from withdrawing rewards to utilizing the platform. Everything will take $APEF to operate, and will burn $APEF in return. This will mitigate the emissions rate vs the inflation rate. IF for any reason, we do run into over inflation. We will use our DAO (governance), to vote on reducing emissions or removing vaults that may be causing an issue.
Community Question #5:
Messi MA: Auditing fees are very high . Why are you doing three Audits where normally many project does only one Audit?
ApePrince: Lots of other good questions, but they are repeats and I do want to touch on this because overall, security is extremely important. With that said, JUST because a project has had a audit, does not mean its secure. Why? Because humans do these audits, and humans make mistakes. We want to do multiple audits, so that if one audit misses a exploitable function, the next audit company can pick it up. Also keep in mind, any changes or additions of utility into the platform will require an audit. So there’s a good chance, we have WAY more than just 3-4 audits. Its important to note, a exploit will more than likely end the project, so we are going to make sure ALL of our code that is currently created and will be created in the future is fully secure.
☆CryptoGirlfriend☆: Thank you so much for being with us here today to tell us about ApeFarmer @apeprince. Please everyone join the Ape Farmer Telegram channel to continue asking your questions. The winners have been sent a DM!
ApePrince: Thank you @CryptoGrlfriend for the fantastic AMA. I hope I answered most questions. If you do have any other questions just join our socials. Thanks again everyone!
☆CryptoGirlfriend☆: This concludes our AMA with Ape Farmer. The chat is now unmuted.