MoonFarm AMA: Vision and $MFO holders benefit Recap

Hosted by — Frank_MoonFarm_CGO

Date: 24–6–2021

We have closed AMA live on June 24th 2021. 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.

Frank_MoonFarm_CGO: So today, as you guys all know, we want to share with our beloved community a clear picture of

1 MoonFarm vision, what are we aiming for?

2 An angle of what we are solving for Defi projects, and how we do it?

3 What is the true benefit of $MFO holders and the future it holds?

There will be 3 sections

1 We explain all 3 questions above for you, our CEO will answer them

2 We choose 5 best questions on twitter and answer ($50 for each )

3 Live section, we will choose only 1 best question and answer ($50 reward)

SECTION 1.

Q1.

Frank_MoonFarm_CGO: What is MFO vision and how does the project develop in the future?

Son Dinh:

• MoonFarm Finance wants to become a Hub of multichain farming.Unlike other Defi projects, we aim to provide a very simple process of farming across multi chains.
• So as you already know or might don’t know it yet , MoonFarm creates Single Token farming but users get high APR like when they add a liquidity pair token.
• We aim to integrate 6 chains, BSC, Polygon, ETH, Solana, Avax, Dot by the end of year. Each chain will have 20 Farming Pools, Total Value Locked for each chain we want to achieve is $50m to $100m
• Our targeted users are the one who are at level 1 or 2 of crypto, they know about Bitcoin, Eth, know how to use big CEX exchanges like Binance, Huobi but do not know about farming yet. We believe there is a huge demand gap for non farming crypto users. So in the future, users just need to create an account on us and they can farm on 6 different chains, they don’t need to add 6 chains on metamask and go to 6–8 different websites everyday to control their funds across all chains.
• We also develop a mobile app so it make the farming process and management even easier, you can check your fund and your yield earning on the go, on train, on bus with your mobile, not like Defi projects at the moment users have to use laptop or desktop to connect wallet to see their fund, even some management site like zapper still require laptop to connect wallet.

• Moonfarm is one of 1% are building for mainstream and non-tech savvy to be honest

Q2

Frank_MoonFarm_CGO: What problems is MFO solving for Defi projects and what will be the benefits for other Projects to create a single pool farming on MoonFarm ?

Son Dinh :

• great question
• Problem:

- Projects launch tokens into market but can face challenges with price stability when there’s limited token utility in early stages

- For staking rewards these are typically funded through project treasury so costly

- Staking also increases the circulating supply of the token creating more pressure on price

- Burning tokens does reduce circulating supply of tokens but has no additional benefit to the project or the community.

• Farming As A Solution on MoonFarm:

- Vaults are created so the community can stake their token and gain high APR meaning increased utility and removing tokens from circulation.

- The vaults automatically convert the tokens into LP providing liquidity to the Uniswap or Pancakeswap DEX.

- As single sided these are very easy to use for the entry level crypto users.

- The vault can be built to automatically buy project tokens off the market as APR rewards steadily increase buying pressure on the token.

- Instead of burning tokens, users will lock them into the vault to increase LP liquidity and generate APY for the specific project or to incentivise community.

- Moonfarm can do a promotional week for any vault to drive attention and focus on a partner project.

Frank_MoonFarm_CGO: Thank you. Also, you can look up at MoonFarm’s new tutorial video to see how you can use our platform video link

Son Dinh: yes, of course, i have watched this video, very basic and details at the same level

i recommend everyone to take a look at this video

Q3

Frank_MoonFarm_CGO:What are the exact benefits of MFO along with the platform growth, increasing in TVL and users?

Son Dinh:

• First and foremost, to achieve higher TVL , many Defi projects create a lot of pairs to boost TVL and use their own token act as the reward for the farming pool. This might help at the beginning but once the token gets minted out too much, the circulating supply expands at a rapid speed and is hard to recover once the price is dumped.
• Moonfarm does not want to go down the same path.

→ $MFO will be used mainly as a reward for the $MFO pool.

• Futhermore this is how we increase the value of $MFO in the long term and keep the price stable:

1. First, Moonfarm performs a 3% percent harvest fee for each pool, the token reward from 3% will be directly distributed back to $MFO pool. Therefore, in the future as TVL increase, more fees harvested, the token rewards paying for $MFO pool will not only $MFO token but will be a collection of $CAKE, $BNB, $BUSD, $DEGO, $ALICE, $LINK, $TLM.

2. If users farm on a different chain, let’s say Polygon, it will be a collection of $MFO , $QUICK, $ETH, $MATIC, USDT, USDC.

→ So more Farming pools, more token reward collection, less $MFO required to pay out, thus reducing selling pressure.

1. Second solution, we aim to bring as many Partner Farming Pool as we can, everytime we on board a Partner Pool:

- They will allocate back to MoonFarm an amount of token , these tokens will be used as the reward for $MFO pool as well -> more tokens for $MFO stakers and farmers.

- There also will be harvest fees from partner pools, 1% will be used to buy back their own tokens, 1% will be used to buy back $MFO.

1. In conclusion, we want to turn $MFO pool become a multi token reward, Stake with $MFO earn many other tokens, users still receive a very good APR with $MFO pool but the $MFO minted will not be too much which keep the price of $MFO stale and increasing.

- Partner’s pools will also receive the benefit from Moonfarm, harvest fees to buy back their own tokens. They can allocate their tokens as reward for $MFO holders, in exchange their pool will get boosted APR by receiving more $MFO as reward and will be promoted by our platform.

• For details of $MFO benefit, we have prepare a slide for you to read:

https://drive.google.com/file/d/1Q8quM9SvJNalBg6VOpNDyXSCr9OX4aMc/view?usp=sharing

SECTION 2

Q1: @imhn99

“In bear-market, how do you guys guarantee the price of MFO not to go down?”

Son Dinh:

• Nice, i think most people want to ask this question
• As a matter of fact, it’s quite the opposite. We believe that $MFO value will grow significantly during this time. Simply put, during bear-market, holders will tend to put their assets, tokens,.. to stake or farm and ofc Moonfarm’s feature is Single assets farming with Optimism Yield definitely will be delicious bread for depressed holders.

In the near future we will launch lots of single asset pools of all types of chains. The more people farm on Moonfarm, the more valuable the $MFO increases.

Q2: @Snowfla45260343

“Why should we hold MFO and not just farm and dump MFO with your high APY MFO-BUSD pool? And why is that the only pool that needs pair tokens”.

Son Dinh:

• The reasons are also quite simple.

That’s how we incentivize users to boost liquidity for our MFO-BUSD pair in the early stages of the project.

High APR will also be rewarded for those who support the project from this early stage, in the future the supply of MFO will decrease very quickly without you realizing it due to MFO pools going to receive tokens from the other pools instead of earning 100% $MFO as usual. As more pool partners open up, the demand to buy $MFO for stake increases, so what do you guys think: selling or holding will be a wise choice?

• We also have a Medium instruction for add LP MFO-BUSD token: https://moonfarmfinance.medium.com/mfo-liquidity-bootstrapping-pool-on-moonfarm-finance-7c00f6134

Q3: @jinsakoin

“Why do we need to register on Moonfarm? Are there any ways to connect wallets?”

Son Dinh:

• Firstly, to create a user-friendly sign up, MoonFarm takes the same approach as centralized exchanges like Binance, Coinbase so users do not need to remember 12 seed phrases or worry of losing private keys.
• Secondly, registration helps us to manage users’ IDs for aggregating users’ farming fees and pay for only one transaction, then divide them equally among all users to minimize farm fees as much as possible, instead of connecting the wallet yourself and paying lots of fees for each farm transaction. The “connect wallets” button is progressing with above strengths while maintaining convenience will be released in the near future stay tuned and follow our channels for latest news.

Q4:@X6Crypto

“Now I can farm LINK on Moonfarm atm right? Any pools with such reputed projects will be added in the future?”

Son Dinh:

• Yes,definitely, you can now farm $LINK with APY 30%-25% at this time.
• For the second part, Why not? Moonfarm’s feature is Single assets farming with optimism Yield so we are gonna integrate as many pools as users demand.We will add more popular platforms such as Polygon, Ethereum and Solana in the near future. Users will be able to farm $MATIC, $QUICK or $SOL, $SRM with ease.

Q5: @Rishabh68701292

“Obviously the whole space will experience huge growth in the upcoming years, but what role would you like Your project play in this?”

Son Dinh:

• Our project will play a very important role in the upcoming years. I believe that blockchain and crypto in general will keep expanding and more people will get their hands on crypto.

Moonfarm will play a key role in bringing those new crypto users to defi and connect all users to different chains, so they can experience the farming on different blockchain, swapping across all chains with ease.

Turn new users to crypto naitive , incentivise them to take their money from bank saving and put it on Moonfarm because we have a much better rate and many farming options to choose from.

SECTION 3

@bahaodaoai

can you explain the nature of mfo farming? Where does the team get money to pay interest to farmers?

Frank_MoonFarm_CGO:

money comes from other Defi projects not us, we just aggregate customer’s funds to a safe and secure Defi project and get money back to users.

@FernandoTWE

How do you view the security challenges? Do you envisage more certification measures and code audits? How strong would you be in the face of a flash loan?

Frank_MoonFarm_CGO:

Yes, it is a very important challenge for us. We have on board a new talent for security, he was very experienced in this security, trained and hired by the top Cyber Head in our country, he has a clear plan to develop our core system to become more secure and less vulnerable from outside attack.

@roberttide

when will new polygon market coming up

Frank_MoonFarm_CGO:

soon, users will be able to swap cross chain between BSC and Polygon and farming, swapping at the end of June, Farming on Polygon coming right after that

@BrookBeauchamp

How do you plan to spread awareness about your project in different countries where English is not spoken well? Do you have local communities for them to let them better understand about your project??

Frank_MoonFarm_CGO:

Yes, we are working with several well known MKT agency to boosting our marketing

@FernandoTWE

Are you considering ADA and BTC in the future?

Frank_MoonFarm_CGO:

Yes 100%, there will be a farming pool for top coins in the future, definitely.

@RevRo1

What’s your outlook on the future of cryptocurrencies in next two years and What can we do to keep increasing adoption?

How does Moonfarm determine the importance of the user community? How many user communities has Moonfarm built?

Frank_MoonFarm_CGO:

I think more adoption will happen, Defi will become the driver of the whole ship, 20–40 more countries will accept crypto, banks and defi can work together to earn more yield and money and bring more users to crypto and Defi.

Community is very important to us, atm we have only 2 communities but in the short future we will build more Chinese, Spanish, Brazil and Korean communities.

@happyt8

Do you propose an agreement with large networks to give loans to different exchanges?

Frank_MoonFarm_CGO:

Yes , we are going to partner with Unilend and Decredit to giving out loans in the future

@sonulal

As I have seen from my experience many farming projects did partnership and did great so what are your thoughts towards it. Are you willing to do partnership with other exchanges and let them promote $MFO.

Frank_MoonFarm_CGO:

100% yes, we are discussing with new partners everyday, the target is to bring as many partners toward our platform as possible.

@Andrea

To improve the usability of the platform you should allow the swap of mfo on the site, currently the swap foresees the return to pancake which is very complicated and could create errors and problems

Frank_MoonFarm_CGO:

Yes , we are doing it, we will make the MFO-BUSD more stable and then integrate the MFO swapping function on Moonfarm platform, stay tuned with us.

@FernandoTWE

Will a direct purchase payment gateway be enabled in the future or will it be integrated with a specialised gateway?

Frank_MoonFarm_CGO:

100% yes, an on ramp and off ramp is very vital for MoonFarm platform, with such function it helps new users to change from fiat to tokens quickly and easily.

@happyt8

And have you suggested that there is an nft pool that generates assets such as bnb since the nft has a definite value as it has its own liquidity?

Frank_MoonFarm_CGO:

There will be NFT item from our Platform, using that NFT item will boost your APR rate

so you can earn more BNB if you are farming with BNB.

About us

MoonFarm is a DeFi and Centralized Finance (CeFi) hybrid yield farming aggregator. It provides the best of both worlds, offering all the cost-effectiveness, easy access, transparency, and rapidity of DeFi yield farming, in addition to offering the security associated with a centralized financial ecosystem.

Moon Farm optimizes Yield Farming interest (APY/ APR) and provides users with the abilities to choose what farms they want to use, or the system will automatically determine the best farming strategies using the yield optimization engine.

Contact Us

Twitter: https://twitter.com/MoonfarmFinance

Telegram: https://t.me/MoonfarmFinance

Medium: https://medium.com/@MoonfarmFinance

Email: hello@moonfarm.finance