RBH’s First AMA Session with JoeZ (CEO) on June 13th 2021

Hi RBH Family,

We would like to keep you updated on the First Informal AMA session we had on June 13th, 2021 with all our community members in both the International and Thai Groups.

Q&A listed below:

Q: What is your estimated APR for the native farms? Ballpark numbers?

A: We cannot estimate the APR now because APR is based on RBH price etc. But it will be, at the start, around 2,000%. But as the liquidity grows as more people come on, it will drop.

Q: When are we expecting to do our first Burn?

A: In the initial stages of RBH, we will be going full force into marketing and putting RBH out there. Which means that we will be having very little for burns. We estimate that we will only be able to start burning bit by bit of our dev funds in about a month or two.

Q: RBH token seems to be both governance tokens in terms of voting for charity but I read somewhere that the team is also working on utilizing it in a form of discounts in the real world too…can you recap on that idea?

A: So the utility of the token (which will affect the real value of the token)

will be revolving around

1. Voting rights

One of the governance utilities will be choosing the charity organizations we will be distributing or donating to end of the month.

However, apart from that, we will also be giving other options like deciding on the deposit fee, etc

2. Discount for the deals with our partner (e.g. Hotel / Dining)

Q: For initial liquidity aren’t you suppose to buy back and provide back liquidity and not mint?

A: We already did. The initial liquidity has been minted and that what was supplied on the launch day total of 88,888 RBH and then provided as liquidity with~12 BNB and 4,000 BUSD. No more minting apart from the block rate now

Q: Can you tell a little bit about your first charity organization? And when are you planning to donate?

A: We chose “Spread the Love” project to be our first with the funds go to the COVID-19 relief fund for those in need. Close to the end of this month we will update you with the progress

Q: Why did you post the contract address at the Thai community without posting here or ensuring it’s all done at the same time?

Can we ensure there’s fairness in the distribution of information in the future, that no bias ness towards any community.

A: We do apologize for that miscommunication that resulted in the difference in time. It was absolutely not because we favored one over the other and we really regret that it happened.

Moving forward, we have made it very clear internally that we will never allow such an instance from happening again. Critical and important News to either community will be published at the same time in both Telegrams.

Q: Can we get more insights on what’s to come for marketing?

A: Sure thing. Without disclosing too much. We have just signed a contract with an international marketing agency that will help drive marketing and growth of the project. Apart from this we have alot of PR, youtubers and twitter influencers that will discuss and promote our project over time. A few announcements coming soon.

Q: Looking through devs wallet, I realized that devs did not even buy back a single RBH to provide liquidity.

A: Liquidity being bought back is not something that we did because we had already provided initial liquidity of 8,000 BUSD.

Q: Are you limited to local partnership only? Or planning to expand to big global charity organizations?

A: We actually have in our pipelines to open up the platform to global charities and organizations. Hopefully, we launch this within Q3. However, in July we plan to open up an easy way for charities or organizations to submit their projects. After which we will start letting the community vote on which project to fund

https://socialgiver.com/en is a very legit one in Thailand who has been operating for many years

Q: And the organization has to be able to accept crypto tokens or fiat?

A: Ideal case is accepting crypto. However, in this case, we are not limiting to crypto only. We will assist them to connect with exchanges locally or simply send them in fiat.

Q: So which company are you guys going to use for your accounts audit and what is your registered company profile in Thailand since you guys are going to do charity?

Because everyone can say they are doing for charity, but without proper company registration and audits they can do anything with the money

A: We totally understand your concerns. As a defi project, we don’t necessarily have to register a company. As for audits and transparency, we believe that blockchain can help prove a lot of where the transactions are going.

However, that being said we will ALWAYS have every donated fund verified, acknowledged by the charity organization and share it here with the community to have it cross-checked.

Q: So do we have a wallet address to see how the 20% daily famed portioned out to is being used?

A: To elaborate, this is our current allocation rate for each fund:

9% development fund

6% Warchest fund

5% Charity fund

Developer: 0x1b6FaB91E2965615819D93cabeE1Ac9F2ceEf9E3–9% of block allocation.

This will be used for things like paying team members as well as for further development of RobinHoodSwap.

Warchest: 0xa58e911d29B23c6fbFD94D5e822B8E940391A8D2–6% of block allocation.

This will be used only in cases where extra funds are needed. For example, to pay for or provide liquidity for partnerships with other platforms, etc.

Charity: 0xE76c9E90cB75739906830928E4e48A6BDA4369D3–5% of block allocation.

Q: Fees for non native farms, what will it be used for?

A: Majority of this fund will be used to buy back tokens for the burn events.

Q: How long are your Charity partnerships?

Yearly? Monthly?

How long are you committed to a social giver that you will be contributing to them?

A: As of now we plan to commit to each partner for 1–3 months. However, as we grow we will eventually let the token holders WHO we donate to and HOW much. We might set a cap for each project we fund so we have a variety of projects.

Q: So when will farms start and will timelock be implemented before farms start?

A: To be precise about the farm launch time, please feel free to follow this link

https://bscscan.com/block/countdown/8349187

This is the 100% accurate time frame. Simply for the fact that this is already written into the MasterChef, and therefore, immutable. Best to follow this. 👍

Timelock will happen 24 hours post farms launch 👌

Q: But why after farm launch?

Firstly devs should make source codes are all in place before launching farms

A: MasterChef will be time-locked for 24 hours after farms are launched. The reason is that there will be a need to add the farms individually and ensure everything is alright before implementing the timelock.

There is always a chance something goes wrong once we deploy, while we want to lock it before the launch of the farm.. we need to prepare for any error that can happen.

Q: After the farm launch will there be a change in farm settings i.e deposit fees before time lock?

A: The deposit fee will remain the same.

Q: Will there be any addition of extra farm pairings or single asset pools?

A: Very soon we will be adding more pairs. Announcements to follow.

TRANSLATION FROM THE AMA CONDUCTED IN THE THAI GROUP

Thai AMA Translate to English

Q: How is Robinhood better than others?

A: Token will be used for charity and other discounts.

Q: How would the owner create trust and ensure not to rug pull?

A: I’m sincere as my face is officially open. In my main business, there are a lot of business partners, so I can’t escape anyway. The partnership is not just word, I have MOU signed for this project.

Q: As the coin is minted, how can you fix the price falling problem like any other farm faced?

A: In an aspect of tokenomics, It is my responsibility to find people to provide liquidity according to the increasing of the RBH amount. The price would also rely on the utility of the token.

Q: How about the partners? Are there any funds or enterprises?

A: Now we have Socialgiver, the Thai social enterprise that has operated for many years. If you don’t trust me, I wish you trust them.

Q: How would you do the marketing on a global scale, do you have any influencers on board?

A: I am talking to the global influencer. The announcement is coming soon. I intend to make a global ecosystem not just in Thailand.

Q: Any plan for listing tokens on exchange? How about the timeline?

A: Yes, we do have plans for it. I can’t define the exact timeline as I will talk to the team first.

Q: What is PRV token in the farm?

A: It is the token of other teams in Singapore whom I know so we have planned for community exchange in the future. This project wouldn’t focus just inThailand, so we’re in contact with the global influencer and charity organization.

Q: What are the reasons for not locking the reward?

A: I think locking rewards have disadvantages for investors and it is just for stretching the period.

Q: How long do you plan for this project?

A: Very long term, I would stand here until the last token is minted.

I would tell you this. Normally, I doing Charity projects.

I think DeFi can make a huge impact on the projects.

I am very welcome for whether who are interested in investing or charity.

Q: What is the use case of the token for the present and future?

A: 1. Governance token for voting such as choosing a project to donate or percent to donate.

2. Use as discounts at our partner service such as hotel, restaurants. As my face is officially open, I can talk to any partner and wish the community to recommend us.

Q: How would the team make a donation?

A: Our goal is to donate in crypto(As some organizations won’t receive crypto, we will convert to fiat for donation. Every donation will be transparently made)

5% of block rewards will be emitted as RBH

we will consistently swap portion of RBH to BUSD in order not to impact the market (everyone could buy at the normal price)

We’ll donate to charity organizations such as Socialgiver which will receive crypto soon. A portion of token that used for donation will be used in the burning event. (price will goes back as supply is decreased)

In the future, we would give the community that is holding RBH to vote about charity organizations and the amount of donation. I also would like to invite the holder to the charity offline event.

Q: 32M of RBH will not be increased right? Is there any other token coming? and what time?

A: No, RBH will limit to 32M and will not be increased.

We have no ideas about launching other tokens. Launching a new token depends on further use cases if it is beneficial for everyone.

Q: Does the latest SEC regulation affect the project?

A: No, as the latest regulation is for Centralized Exchange.

RBH is not about a centralized exchange.

Q: Is it related to ICO? I worry that this would affect partnership acquisitions.

A: IXO is the kind of fundraising which we’re not.

For example my startup, I want to raise 3M baths for 5% share.

This kind of activity is not allowed.

The regulation is still ambiguous.

Q: As many farms on BSC have encountered flash loan attacks last month, How would RBH prevent this?

A: as RBH doesn’t have arbitrarily minting mechanism.

It will be minted with exact rate.

Then our RBH is not vulnerable to flash loan.

A Flash loan attack is when there’re a huge loan and add it to the farm for high reward and sell to the market which led to price dumping.

Q: From a team aspect, do you give importance to the token price?

A: This will be the last question, then I have to go. You guys can leave other questions.

Token price would rely on tokenomics, I definitely can’t manipulate the market. This is the beautiful point of Decentralized.

The limitation of token amount(few amount increase every day). The more users leads to more demand and price would go along.

The utility also such an important factor(if I receive RBH for any purpose for 1000000 baht not too long due to the market mechanism the price would never go below 1000000 baht)

Excuse the misinterpretation between the two languages if any.

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Love from RobinHoodSwap Team :)