AMA RECAP : CRYPTOSCAPE X PIKA TOKEN
Venue : Crypto Scape
Date :18 june 2021
Time : 11:00 AM UTC
Guest : Mr. Reece McDowall (PIKA President)
He shared detailed information and his opinions about the project PIKA TOKEN.
#SEGMENT 1 : INTRODUCTION.
Q1) Introduce yourself and your team to our community and tell your crypto story!
*Reece [Pika Crypto] Representing PIKA TOKEN:
My name is Reece McDowall, I’m a 32 year old Australian. I am now (as of today) a former specsavers manager
I gave my job up to pursue PIKA full-time.I am the only Australian on the team.All up there are 13 core team members and around 15 support staff to the PIKA Crypto Project.
Our core team come from all over the world; America, Canada, England, Brazil, Pakistan, Greece and Germany
You can see them all here: https://www.pikacrypto.com/aboutus.html
Our entire team is doxxed
My story in crypto? Relative new-comer all things considered. I’ve been in crypto since around August 2020 I’ve seen a lot of projects rise and fall and have studied what makes them tick and what makes them stop.
I got sick of seeing so many projects start up and fail because they can’t get the simple things right Tokenomics, it’s the foundation of all cryptos and if you stuff it up, doesn’t matter what else you do, the project is doomed to fail. So I set out to create a unique and first-of-it’s-kind project.
And with PIKA Crypto, we have managed to achieve that.
Q2) What is Pikacrypto all about explain it along with usecases and vision?
*Reece [Pika Crypto]:
Let’s start with our vision. To be the #1 meme coin in crypto
And it is 100% achievable with PIKA Crypto
Now I’ll provide some graphics for you about our project because this answer is going to take a while to get everything out.
This is the basic construct of our PIKA Ecosystem.
We have three coins; PIKA, THUNDER and RAI. All coins pay homage to our PIKACHU token heritage. We weren’t the founders of PIKACHU but we were the community formed around it and the community that migrated from PIKACHU to PIKA.
Reason for the transition? To remove all possible copyright infringements and to enable us to develop a sound and legally safe project
Now these three coins are all interlinked. You can talk about one coin without talking about them all
And this is because of our unique system called evolution. Now most cryptos have a system whereby you STAKE your existing tokens and earn a "rarer" token as a reward. This system in my opinion makes no sense and causes a deflationary impact on price
Our evolution system has re-written how upgrading tokens should be done.
With the above image, you’ll see that to upgrade our base level token (PIKA) to our first evolution form token (THUNDER) you have to sacrifice your PIKA.This means you will not receive ANY of your PIKA coins back from this process. It will cost you 10,000 PIKA to receive 1 THUNDER coin back
This process is all automated through our website (www.pikacrypto.com)
Now those THUNDER coins can ALSO be evolved into our final evolution coin; RAI
It will cost you 1,000 THUNDER to receive 1 RAI
This evolution process is one of the foundations of our ecosystem and adds unimaginable value to our project. The reason why is because of how our staking pools work. With most projects that have staking, it’s a very rudimentary and imo terrible system. It generally includes having a redistribution fee (tax) on every transaction which in and of itself is completely fine but then generally the development team will release their reserve funds to top the pool up, hence diluting the overall supply and causing a downward impact on price.
OUR project, is ALREADY full diulted. ALL PIKA has been distributed amongst all holders with an allocation held by the team for exchange listings
This means that all funds going into the staking pools are being put in by the investors themselves, this creates a game-like mentality and enables investors to choose a strategy on how best to profit
The current income streams for our staking pools are as follows;
- 1.5% of all buys/sells and trades get fed into the staking pools
- 73.5% of all PIKA that is evolved into THUNDER goes into the staking pool
- 85% of all PIKA that people stake gets added to the staking pool
This 3 prong process of adding revenue to the staking pools creates a much improved return on investment (ROI) to the investor and actually creates upwards pressure on price over time
Now questions we get asked is; "Why do you have a 15% entry fee on your staking pools?"
Simple answer is this; Because our staking pools are so beefed up, investors need to risk something to be able to gain something. This is part of our GameFi mechanics
Out of this 15% staking fee, 12% of that is burned immediately, hence causing a deflationary impact on tokens, increasing rarity and overall value
Staking lasts for 14 days, meaning you can claim your staking rewards every 14 days
You have to manually claim them, if you don’t, you lose them and they get redistributed into the next periods staking rewards.
Q3) What is the security of your platform and how you assure you won’t rugpull at a pump?
Reece [Pika Crypto]:
Doxed team
Verified contracts
Locked liquidity
We're in the process of turning our project into an encorporated entity
We're here for the long-term, we have major plans and we're going to achieve them all with this project
Pika liquidity locked
https://app.unicrypt.network/amm/uni-v2/pair/0xc3B8d5F4B6ac5177E6058891bE50A910aD958716
https://app.unicrypt.network/amm/uni-v2/pair/0xc3B8d5F4B6ac5177E6058891bE50A910aD958716
Thunder liquidity locked
https://app.unicrypt.network/amm/uni-v2/pair/0x577a872b3dc916963a7525f1e693677fa5c576d6
Rai liquidity locked
https://app.unicrypt.network/amm/uni-v2/pair/0x06ff89df6e1c820088ee67bf25e081b624ab676e
Q4) Do you have a detailed roadmap as of now if yes share in the same if not highlight some of the major plans you would like to achieve in the near future?
Reece [Pika Crypto]:
We'll actually be releasing our roadmap today and whitepaper in a couple of days so I'll give you a quick run down
I'll just go ahead with what we've got to come, not what we've already done
Start NFT development with Virtuos (World leading art/game development studio)
Establish corporate entity status
Get listed on additional exchanges (currently in talks with Huobi Global + more)
Develop a website profile system
Finalise our online trading card game system and start searching for TCG game development studios
Major marketing campaigns including signing PIKA Celebrity Ambassadors
Start developing our own marketplace
Expand on our PIKA Partner Program
Release initial wave of PIKA Partner NFTs
Q4 - Release first wave of Virtuos NFTs
Complete our websites collectible NFT pages
Release RAI staking pools (once Virtuos NFTs released)
Complete Booster Pack Opening system
That's just a few things
Our online trading card game is going to be next level. Investors will be able to use the NFTs that they get through our booster packs to play the TCG
Not only that but if they win games, they'll receive PIKA, THUNDER or RAI as rewards for doing so
This adds value to our NFTs and helps to feed our ecosystem.
Q5)What are your plans with cross chain and lp farming because bsc is having real cheap fees nowadays ?
Reece [Pika Crypto]:
Our team is currently investigating ETH layer-2 solutions and I can’t get into too much talk here because it’s in concept phase but we’re looking at ways to migrate to alternative markets whilst remaining on the ETH Network.
#SEGMENT 2 : TWITTER
Q1)Can you tell about why you decided to create in three tokens and like how are they linked with each other and how all three tokens could support each other in growth @JacksonCrypto82
*Reece [Pika Crypto]:
I’m going to give a simple answer first and then make it more complicated
Simple answering, you can play all 3 coins off of each other for value. This process is called arbitrage, because all coins are linked to each other through evolution, it means that whenever the are deviations away from the evolved ratios, there’s opportunities for investors to profit.
More detailed answer:
PIKA to THUNDER is a static 10,000:1 ratio
That means anytime that THUNDER is over 10,000x the price of PIKA, you stand a chance of making profit by evolving your PIKA into THUNDER and selling that THUNDER
Same goes with RAI
It takes 1,000 THUNDER to evolve into 1 RAI
This means that if RAI is over 1,000x the price of THUNDER, then investors can evolve into RAI and sell for profit
This is arbitrage. Now the market is always going to go up and down depending on people buying and selling our coins
This means that there are constantly and ever changing strategies in how to play this game
You might find that THUNDER is only 9,000x the price of PIKA and therefore not worth evolving but RAI is 12,000,000 the price of PIKA, that means you can SELL your RAI and buy up even more PIKA
ALSO take into account that all 3 of these coins will eventually be listed on exchanges. That means even more arbitrage opportunities for investors
I have seen on our RAI coin launch, an investor with 2 ETH, turn that 2 ETH into 30 ETH simply by playing this arbitrage game And this happened in the space of 12 hours. Same thing applies if someone does a massive dump onto one coin. The other 2 coins absorb the impact. By the same process of arbitrage.
So with our system, even with a coin dumping, this provides even more opportunities for our investors to profit through our system :)
We’re in discussions about launch dates for THUNDER and RAI with both XT.com AND CoinTiger
Expect both to be released within a couple of weeks or less.
Q2) PIKA Crypto is an ERC-20 project that has a whole ecosystem to it and your aim is to revolutionize the ‘Meme Coin’ market. So how do you plan to achieve this & what are some of your electrifying features that makes you stand out from your competitors? @Wormz29
*Reece [Pika Crypto]:
I’ll keep this answer somewhat short because I’ve outlined a lot of what this question is asking already
But I will release some more details about other aspects of our project as well
We've already touched on staking, evolution and the strategies that our investors can employ to benefit from our system
I've already also touched on the basics of our online trading card game and NFTs
What I'll do is go more indepth into our website profile system, marketplace and more into NFTs
so website profile system first!
This is going to be a really cool little system for us. Investors will be able to create profiles through our website, customise their profiles and show off their NFT collectibles
Through this profile system as well, we will be enabling rewards for people that fill their collectible pages
So if you manage to complete, let's say our PIKA Partners Collectible page, you'll earn yourself an exclusive rare NFT
Now our PIKA Partner Program is something that we have set up to establish ourselves better as the Pioneers of GameFi
This is our partnership program with online content creators through platforms such as Twitch, YouTube, Instagram etc.
These Content Creators help us promote PIKA and we work with them to develop their custom NFT and compensate them financially as well
NOW onto our marketplace
We'll be creating a marketplace that in and of itself is quite unique
Not only will our investors be able to buy/sell and trade NFTs through our marketplace, they'll also be able to buy/sell and trade real life items as well
You'll be able to buy these goods with PIKA, THUNDER and RAI + other agreed upon cryptocurrencies
This is quite a unique proposal and it's something that will significantly set us apart from other marketplaces
Because let's be honest, who wouldn't love to buy a Pokemon themed Nintendo 64 with your RAI coins hey ;)
FINALLY! (Sort of) our NFTS!
This is by far one of our biggest value adding measures
We have partnered up with a global art/game development studio POWERHOUSE in Virtuos
These guys have done some major works with house hold names like; Sony, Warner Brothers, Marvel, 2K, Blizzard just to name a few!
And we have an agreement in place for them to develop 153 unique artwork pieces for our NFTs
This will be Virtuos first step into the crypto space and my feeling is that they're going to become a big dominant force in the space
Now these Virtuos NFTs will take the form of Trading Cards
These trading cards will have a particular rarity system to entice investors into buying
You'll be able to buy them with PIKA, THUNDER, RAI
and instead of buying the NFTs individually, you'll get them by opening booster packs
These booster packs with have unique custom animation openings, similar to that of FIFA Openings
And once opened, you will receive 7 randomised NFTs
Now there will be 3 variations of booster packs, PIKA Booster Packs, THUNDER Booster Packs and RAI Booster Packs
Inside of a PIKA Booster Pack you will receive the following; 4 common NFTs, 2 uncommon NFTs and 1 Rare NFT
Inside of a THUNDER Booster Pakc you will receive; 2 Common NFTs, 2 Uncommon NFTs, 2 Rare NFTs and 1 Super-Rare NFTs
Inside of a RAI Booster Pack you will receive; 2 Uncommon NFTs, 2 Rare NFTs, 2 Super Rare NFTs and 1 Legendary NFT
Now the Super Rare and Legendary NFTs will come with variations; Standard graphics, Holographic and Misprints
These will all have varying scales of rarity in and of themselves
Do we stand out enough yet? ;)
All can be accessed through our website: www.pikacrypto.com
There are big buttons on the homepage that direct you
You can also go to www.buypikacrypto.com and www.buythundercrypto.com
For PIKA and THUNDER directly.
Q3)Can you tell a bit about pika staking in here why you decided to go for a 12% burn and 3% to team like if I stake I just lose 15% of my tokens upfront so my question is how is it profitable
@Sahil_0_Jangra
*Reece [Pika Crypto]:
I did answer this earlier in the AMA so I’ll give a bit more of a summary here
The 15% entry fee is comprised of 2 parts:
12% Burn
3% Community Wallet
The 12% burn is to help lower supply over time
The 3% Community Wallet funds our PIKA Partner Program and additional marketing promotion that we do, as well as paying an allocation to our support staff who are not a part of our core team
The reason we have this 15% fee is because of how lucrative our staking pools are
Investors need to understand that with our GameFi mechanics, nothing is a guarantee, everything can change and everything does change
That's because the community can change strategies and make new plays within our gaming system
This will all effect how different elements of our ecosystem work
Imagine it as if there's 5,000 people playing a game and for every buy/sell/trade, evolution and stake, that the overall supply of the coins get lower and lower
These varying strategies can have a profound impact on every aspect of our ecosystem
So by implementing a 15% entry fee (PIKA) and 7% for THUNDER, it makes investors think strategically before making their decision
Now to give a summary, the first 2 PIKA staking pool reward periods paid out the following allocations (in %):
First rewards cycle - 14% (almost a full return on investment within 14 days
Second rewards cycle - 4.5%
It's also looking like this next cycle can have a reward of approximately 30% (so far)
Not bad for sacrificing 15% of your PIKA.
Q4)I have two questions first of all how much do you value your holders in major decisions any governance features and second question is how you plan to incentivize people to hold your tokens for long term @Abc97341745
*Reece [Pika Crypto]:
Governance is controlled by the core team, As a team of 13, all major decisions must be run through this team and must receive majority vote of atleast 8/13 or higher to pass
We use our Support Staff as our sounding board for all major decisions as well
And what's to incentivise people into holding our tokens?
Simple
Our Tokenomics
With a constant burn rate that causes a deflationary impact on overall supply. HODLing our coins is a legitimate game strategy. Essentially the more you hold, the stronger your position becomes over time
I think that answers that question adequately enough :).
Q5)Can you explain about your nft and on what platforms users can trade it and how can I obtain those nfts? @kaelriego
*Reece [Pika Crypto]:
We currently only have 2 NFTs that are in existence, one is our PIKA NFT and another is our THUNDER NFT, both are one of a kind NFTs and will never be replicated
Our other NFTs, PIKA Partner NFTs and Virtuos NFTs will be purchasable through our website and tradeable through any marketplace that allows wallet connections for trading
We would primarily want investors trading through our platform as it will all be in one place
I think I’ve touched quite heavily on the overall NFTs previously and don’t want to give a headache to the people chilling in here reading away :).
#SEGMENT 3 : TELEGRAM LIVE
Q1)Charlie (Won't DM you first) | $DOGE $SHIB $AAVE $SMARS $SKY:
Q. Projects that are not traded on major exchanges remain unnoticed. What does you think about listing $PIKA on the leading exchanges?
*Reece [Pika Crypto]:
I find that we’re having no problem at all in getting exchanges asking us to list with them. We even had an exchange list us without us even doing anything (Bilaxy)
Our goal is to become so dominant in the decentralised crypto space that exchanges will list us at no cost.
Q2)Jada Warfield:
How will you attract investors and build the trust and win the hearts of millions of people in your project?
*Reece [Pika Crypto]:
People will become interested in our project because of it’s meme marketability, they will stay invested because of our unique tokenomics and systems
Winning peoples trust comes as a result of honesty and transparency
Having a doxxed team, locked liquidity and verified contracts definitely help with that also.
Q3)StEPhAnY:
In PIKA’s tokenomics I could not see any percentage destined for marketing, What is the reason for this decision? marketing is not important to you?
*Reece [Pika Crypto]:
Marketing is critical to our future success and as a result the team have implemented that 20% of all Team Wallet income will go directly to marketing, we also use the Community Wallet for more grass roots and community building projects (PIKA Partners).
Q4)Linh Neil:
What is the target audience that you primarily focus on in order to expand the user and investor base of your project? In which countries or regions are you more active?the PIKA targeting? Are these people who want entertainment or want to make money?
*Reece [Pika Crypto]:
We’re focusing primarily on America and Asia, listing with XT.com (One of Chinas largest exchanges) and CoinTiger (Based out of Singapore) signals our intent
We would like to further develop our Asian influence by getting Asian esports stars to join our PIKA Partner program along with more social media focused promotions in the future.
Q5)J҉o҉k҉e҉r҉🎭:
💣Do your team have a professional background and sufficient experience in different fields? As the project develops, will new members from different sectors be added to your Team?
*Reece [Pika Crypto]:
Yes, yes we do, we have 2 solidity developers on the team, 2 front end web developers, a marketer, a merch manager, a Chief Commercial Officer, social media managers, an incredible graphic designer (see examples), and two animators (see video).
*Reece [Pika Crypto]:
This is another example of some of our promotionsIf I haven't convinced you about our project yet, feel free to join our community in Telegram or Discord, ask your own questions and you'll see why we're going to become the #1 meme coin, it's not a question, it's a guarantee
Thank you for having me :)
It’s been a blast.
Thank you from Crypto Scape
