AMA RECAP : CRYPTOSCAPE x MFRM
Venue : Crypto Scape
Date :09 SEPT 2021
Time : 01:00 PM UTC.
Guest : Mark Berisha
They shared detailed information and opinions about the Project MFRM.
🔴 SEGMENT 1 INTRODUCTION
1) please introduce yourself and your team to our community and tell your crypto story
Hazel B:
I am Hazel, CDO at APECoin and MFRM. I first got interested in crypto and blockchain at a Bitcoin Conference in 2014. I have been hooked ever since. It has been exciting to watch blockchain technology and adoption elevate over the years. It became apparent my skill set could translate into this space. I am now full time crypto and enjoying every minute of it!
Mark B - Visionary APE:
I am Mark Berisha, CEO of APEcoin, MFRM, and one of the founders of BUSTA. I got involved in crypto about 7 years ago as an investor, became a full time trader about three years ago, and then 14 months ago, me and a group of crypto enthusiasts launched the APECoin ecosystem, basically an incubator for crytpto projects which thus far has spawned mfrm.io and busta.gg
Do you have any other members into your team???
And can you tell their roles
Mark B - Visionary APE:
Yes we have Boomer APE who is our COO and CTO on the APEcoin management team, and on the MFRM and BUST side, we have a team of over 30 working on various aspects of the MFRM rollout as well as the BUSTA DEX which we just launched at https://dapp.busta.gg/swap
and the Bust-A-Crash game at https://crash.busta.gg/
2) What is MFRM all about explain it along with usecases and Vision
Hazel B:
MemeFarm, or now known as The Monkey Firm after our rebrand, is an perpetual utility project started by the Apecoin devs late 2020. It started as a simple farm with added NFT rewards on top of basic yields and has now evolved into a marketplace, minting facility and a disruptor of a billion dollar market with our Token Backed NFT's.
3) You have plans for yield farming so how you plan to manage the inflation and how you plan to Better than other nft platforms available in the market
Hazel B:
We currently include farming in our model, as this was how we dispersed our tokens for a fair launch in the beginning. We launched with 21million tokens and this is our maximum supply. We also have a buy back and burn associated with our fees for selling both Art, Token Backed NFTs and fees associated with our listing over at BUSTA DEX https://dapp.busta.gg/swap.
4) How you plan to increase the token value and how do you plan to manage a bearish market ??
Hazel B:
As we mentioned briefly earlier, we are very much focused on Token Backed NFTs, which is the first instance of NFTs with perpetual utility.
All our projects focus on beyond the tokens and offering a product with true purpose for the user.
For example... our Token Backed NFTs offer a simple solution to a very complex problem
The OTC market is worth billions of dollars. However, there are a lot of difficulties when trying to conduct a trade. There are timezone issues, high fees, escrow solutions required, and risks of being scammed just to name a few.
Mark B - Visionary APE:
Our projects are specifically designed to be perpetual utility machines, with real products with real revenue
Hazel B:
Our Token Backed NFTs are a one click, streamlined solution which literally takes minutes and very intuitive for our users.
Mark B - Visionary APE:
being utilized to increase value by buying and burning tokens and providing permanent locked liquidity that will thrive in both bull and bear markets.
Hazel B:
The above images have detailed information on our Token Backed NFTs. They are currently in BETA and set to go fully live with our new website launch next week.
5) Share in your Tokenomics and mention about locking and all . Additionally mention transaction fees charged on every transaction
Mark B - Visionary APE:
Sure let me address that in two ways
one, on the BUSTA DEX we have customizable transaction fees and we have chosen to use it as follows
We have broken down the following fee structure for each token below:
MFRM
2.5% total fee
0.1 to bust
0.4 to liq providers
0.5 treasury
1.5 permanent locked liquidity
APE
4% fee
0.1 to bust
0.4 to liq providers
0.5 treasury
1.5 burn
1.5 permanent locked liquidity
Then beyond that, for our NFT sales on MFRM.io, there is a 1% fee on all transactions
that fee is broken down as follow
Hazel B:
So for the 1% fees from the NFT transactions on our site, we break it down for 25% of the fees going to liquidity, 25% goes to staking, 25% will buy back and burn APE and 25% will buy back and burn MFRM.
🟡 SEGMENT2 TWITTER QUESTIONS.
1) I read that The Monkey Firm is the first Non-Fungible Token Decentralized Autonomous Organization, or #NFT DAO. Can you explain this idea of NFT DAO? How is it different from the traditional DAO? @Kiyokosumaru
Mark B - Visionary APE:
Well for one, we have a very specific focus on NFTs with utility, with our marketplace for ART NFTs and the token backed NFT's already live, we are now in development of a few more NFTs with Utility
Thre great part of the DAO launching is that the community will be able to vote on where that development money is focused on
so they will have an active role in helping the project grow which will benefits all stake holders
2) How you assure about the security of your product also additionally mention about the roadmap so the community always is interested in your product?? @Abc97341745
Hazel B:
We are a fun project and we love to be creative, but we take our approach to security very seriously.
Our Token Backed NFTs have been audited with https://www.rdauditors.com/
For our roadmap, we are keeping quite a lot of what we are developing very quiet. For example, we are the first ones to offer the Token Backed NFTs solution, and we will be building on this moving forward. To speak too early about what is next on our agenda would impact our first mover advantage :)
3) How does The Monkey Firm guarantee buyers that all Art NFTs sold at your community are authentic and original? What process do you go through to determine the authenticity of a work of art? Is there a team of specialists who evaluate the paintings before they are published? @Lidiamga
Mark B - Visionary APE:
Thats a great question, and thats another aspect of the NFT DAO, all artwork submitted will be verified by a third party prior to it being put up for a vote to the DAO, the DAO will then decide if it can be listed with and official and verified stamp of approval.
4) What’s the plan to make your nfts valuable and what all platforms could your nft be traded at and can you give glimpse of your nfts ? @arorazaman
Hazel B:
https://memefarm.io/#/nft/auction/20/721/87
The above is a link to one of our users unique auctions...
Hazel B:
This is an example of NFTs being not just about Artwork. This is a prize we gave away to one of our community members. They decided to sell the NFT, which is redeemable for a real Game Boy delivered to your door, which is pretty exciting.
We do have some artists we are talking to regarding their work and promoting them to get them additional interest in their artwork.
All NFTs are currently only tradeable on mfrm.io
5) One of the interesting features of the #MFRM project is your "Token Backed NFT" feature. Can you briefly explain more about it? How does it work? And Can you please give us a step by step guide on How users can mint and list a "Token Backed NFT" in your platform? @_live_defareint
Hazel B:
So our Token Backed NFTs are essentially perpetual utility NFTs.
With a focus on disrupting the OTC market
The process is quite simple and easy to use!
The OTC market is worth billions of dollars and has a lot of headaches involved. Timezone issues, escrow agreements, high fees. Our one click solution eliminates these issues with a simple click on a URL.
We are currently integrated with MetaMask and looking at additional wallets in the future.
🟢 SEGMENT 3 TELEGRAM LIVE
Q1- Sharay Lug:
🟡🌼🟡🌼🟡🌼🟡🌼🟡I just realized that Meme Farm uses a dual token economy, $APR and $MFRM , so can you explain us what are the differences and Usecases of both tokens?
Hazel B:
Thank you for your question, Just to clarify a small type here, it is $APE and $MFRM :) MFRM is a part of the APECoin ecosystem . As we mentioned prior, it was APECoin which started this amazing journey for us. Our ecosystem also includes our other project BUSTA which is currently in the midst of its IDO. Those who hold APE will continue to benefit from existing and future projects. It is the fuel to our fire. MFRM token is specific to representing investment in the MFRM projects.
Q2-Alif Mim:
sir..Token Burning plan to increase Token value and attract Investors to..You can tell us what you plan??
Hazel B:
Hello, thank you for your question. Yes, we have two different angles when it comes to our buy backs and burns. The first is through our tx fees on BUSTA DEXWe have broken down the following fee structure for each token below:
MFRM
2.5% total fee
0.1 to bust
0.4 to liq providers
0.5 treasury
1.5 permanent locked liquidity
APE
4% fee
0.1 to bust
0.4 to liq providers
0.5 treasury
1.5 burn
1.5 permanent locked liquidity.
The second is via the 1% fees from the NFT transactions on our site, we break it down for 25% of the fees going to liquidity, 25% goes to staking, 25% will buy back and burn APE and 25% will buy back and burn MFRM
Q3-Jack Roson 👤:
Is your Project a local and a global project. How many People do you have for non english user? Can anyone uses your services from anywhere in the world.Is there are any restrictions of using your service share ?
Hazel B:
Hello Jack, we are a global company with a team spread out through the world. At present we are not aware of any limitations in using our product, HOWEVER, it is important that each user does their own research to ensure they are abiding by regulations in their jurisdictions.
Q4-Anh Xuan:
Your project is fantastic and good idea and each project has interesting stories before it is created. So can you tell people about the story, problems, difficulties, that gave you the motivation to build and develop a great project like that?
Hazel B:
Great question! So with every project, there is always a journey and story behind it. For us, I think one of the key hurdles we have come across, is staying ahead in a very fast moving industry. We have noted what goes on in our industry and had to change tact and direction in order to respond effectively. It seems to have worked so far :) We are always going to adapt.
Q5-Md Pagol:
Hi sir
Where can I buy your tokens now. What are your current contracts, and how can I buy them and what are the benefits
Hazel B:
We would recommend using our new BUSTA DEX dapp for your $APE, $MFRM and $BUST tokens https://dapp.busta.gg/swap.
🐒 APE contract address - 0xa9ea4b786ee5b7a733c035564bfd9341a4c9fc1e
🚜 MFRM contract address - 0x206340f3361404910f45ca0893980ef3f9b418ea
Absolutely! We do have an additional giveaway for your community
For your chance to win 1000MFRM, please complete the following simple tasks;
1. Follow MFRM on Twitter: https://twitter.com/Go_MFRM
2. Join our MFRM Telegram: https://t.me/APEcoin_Chat
3. Complete all fields on form below
You will need to enter all information into this form https://forms.gle/8jGjUFaeYT7hyusV6
We would love to see some new faces in our TG groups also https://t.me/APEcoin_Chat and also https://t.me/busta_official
Thank you so much for having Mark and I join you today. We very much appreciate it!
Thank you from Crypto Scape 😍
