Recap — Bitcoin&Altcoin Türkiye AMA Session with Bird Finance
On 12th of May, 2021, in our community Bitcoin&Altcoin Türkiye TG Group we held a live AMA session with Wind from Bird Finance Team (www.birdfinance.com) Team. He is CMO of the project and answered all of our questions and helped us to get our answers.
AMA session started with greetings and introducing our guest to the community. On the second part, Bitcoin&Altcoin Türkiye asked their questions to Wind and got perfect answers. On the last part, we gave 5 mins to our community to ask their questions and opened live chat for a 5 mins. During this period Wind get more than 100 questions from community and answered 5 questions from community.
Q&A Session 1 — Questions From Bitcoin&Altcoin Türkiye
Q1 — First of all welcome our community, can you please introduce yourself and your project?
A1 — Thanks for inviting me. I am Yellow Wind from Bird Finance. I have been a developer at Silicon Valley for the past ten years. I have started investing and developing in the blockchain field since 2016. Bird Finance is a DeFi platform focusing on smart pool and lending by its governance token BIRD. Bird Finance seeks the best return mining pool by our best algorithm and automatically compounds it for maximal profit.
Q2 — Can you introduce to our users what DeFi is?
A2 — DeFi is short for “decentralized finance,” an umbrella term for a variety of financial applications in cryptocurrency or blockchain geared toward disrupting financial intermediaries. DeFi draws inspiration from blockchain, the technology behind the digital currency bitcoin, which allows several entities to hold a copy of a history of transactions, meaning it isn’t controlled by a single, central source. That’s important because centralized systems and human gatekeepers can limit the speed and sophistication of transactions while offering users less direct control over their money. DeFi is distinct because it expands the use of blockchain from simple value transfer to more complex financial use cases.
Q3 — What’s the most outstanding feature you think Bird Finance has?
A3 — Hyper-Deflation Mechanism is our first outstanding feature. It enabled the deflation of Bird token and benefits all the Bird holders.
2nd, Basic Token Multi-Mining
Stake the principal at our smart farm to conduct auto-compounding mining, and meanwhile the smart farm gives you BToken as your voucher, which is used to redeem your principle.
With BToken, you can mine Bird by staking them in BToken mining pool. In the future, you can also mine NFT.
3rd, Cross-chain Smart Pool
Bird Finance will continue to integrate with Solana, HECO, OKExChain, and Ethereum. Meanwhile, the smart pool will automatically seek high-quality pools across the chains, thus providing users with a cross-chain portfolio that enables higher profits.
Last but not least, Community Governance is also a great feature that differs us from other DEFI projects.
1. Community vote to decide the mining pools to integrate
2. Community vote to decide the future development of Bird Finance, as well as all big events
3. 2% Circulation tax charged in BIRD are reserved for community governance
checkout our cute website: https://birdswap.com/
this is our group https://t.me/BirdFinanceGlobal
Q4 — Do you think Bird Finance’s services cover all needs from different types of investors? What kind of investment ways do you have?
A4 — Yes, we have covered lots of investors’ interest. We have liquidity mining for the investors that are very aggressive and trust to our Bird token. They have earn Bird buy providing Bird liquidity at PancakeSwap or MDEX. We also have some single coin pool for those investors that are much less aggressive, they can also earning by staking their BUSD or BNB. Not only that, MDX lovers can use our auto-compounding smart farms to earning more MDX without extra gas cost. Please check our website https://birdswap.com/#/farm. Feel free them try them out. If you have any questions about us, welcome to join our telegram group (https://t.me/BirdFinanceGlobal) and follow us on twitter (https://twitter.com/bird_aggregator)
Q5 — How does a smart pool work? What’s it’s difference and advantages?
A5 — Let’s say if you have some BUSD-BTC LP and want to mine MDX with it. What people normally do is just go to MDEX’s website and stake their BUSD-BTC LP token at MDEX’s liquidity pool. Then you can start earning MDX tokens. However, if you want to compound your MDX earnings, you need to harvest your earnings and sell half of them to BUSD and other half to BTC, then add them to the liquidity pool to get more BUSD-BTC LP, and finally you need to stake the new LP token you just got. It takes about 5 transactions in total.
I suppose you guys all knowing that on Binance Smart Chain(BSC) Each transaction costs BNB as gas. Data from last week shows that the average cost of each transaction on BSC is about 0.5 to 1 US Dollars. Which means every time if you want to compound your earnings it’s gonna cost about 2.5 to 5 US Dollars, which is a huge cost. In our smart pool, our smart contract will do all the work for you without you paying anything. Even more, the average of our compounding time is 10–30mins. Which means you will earn much more MDX at our platform than going to the MDEX and mine there. It’s not over yet, you will not only get a much higher yield of MDX tokens, you will also earn BIRD(our governance token) if you use our smart pool. That’s most likely about 5x to 20x times more profit. You can check the exact rate in our website (https://birdswap.com/#/farm), from our website you can see the original APR at mdex and APY at our smart farms .
Q6 — When I checked your website I saw the Hyper-Deflation Mechanism and was very interested in this. Can you please tell me what’s this and how it works?
A6 — That’s a great question.Hyper-Deflation Mechanism is our token model: 50% of the total Bird has been sent to the blackhole address upon launch. The smart contract will charge 6% Bird from each transaction. 2% of the charge will be added to the BIRD liquidity farm on DEX, 2% will be transferred to DAO governance farm, and the rest will be distributed to all bird holders proportionally. Since the blackhole address has the largest allocation of BIRD, most of the transaction cost will be burned to the blackhole. Therefore, Bird enables the deflation of Token.
Q7 — Our team is also curious about your project’s road map? What we will see in near and mid term?
A7 — Our roadmap is shown on our website https://birdswap.com, we have completed as we planned so far. Right now we have the smart farm, the liquidity farm and the voting system, all these features are fully functional and safe.
Just letting you guys know, that Bird Finance has been listed on CoinMarketCap yesterday. Here is the link: https://coinmarketcap.com/currencies/bird-finance/
For the near future, we are going to launch Boardroom and NFT. For more details and announcement, welcome to join our telegram group (https://t.me/BirdFinanceGlobal) and follow us on twitter (https://twitter.com/bird_aggregator)
Q&A Session 2 — Questions From Community
Q1 — If you had invested in this coin, what would be the reason?What will be the points that attract users for investment?
A1 — Well, when talk about investing, the first thing we care is about which direction you choose, Bird FInance picked smart pool and lending. That’s a perfect direction in blockchain application, cause the smart pool and lending itself can generating profit, and we use the profit to maintian our community and Bird price, thats the big difference between us and other “mining and dumping project”, You may seen other tokens such as safemoon has the same deflation token modal, yet they do not have any actually product, with time goes on, these kind of shell project will eventually goes down. We are not only have smart farms, lending, NFT, cross-chain bridging, and all kinds of excellent features are under development
Q2 — What is your goal in 5 years at Marketcap ?
A2 — I cannot give the my expectations of our marketcap after 5 years, no one can predict the market. However, i can tell what our plan is and how far we are. Our project has already been well knonwed to Global Defi Community. Bird Finance has just been launched for 5 days and our smart farm has not yet been launched. Yet our Total Locked value is over $3.5 Millions. You may check them in our website https://birdswap.com/#/liquidity. You can see that Bird’s Price, liquidty, TVL, marketcap, has been growing since launch. and we beleive a big growth and pump will happen when we launch our smart farm on UTC+8 2021–05–07 19:00. Well I cannot see the 5 years since you know that how blockchain grow fast. But for the next two years we have already planed as below.
End of Apr. 2021, BIRD gets listed on Dex of BSC, and liquidity mining starts
May 2021, Bird Smart Pool goes live and integrates with Mdex mining pool
Jun. 2021, DAO gets launched and community governance is activated
Q3, 2021, Lending function goes live
Q4, 2021, Cross chain function is enabled with profits aggregated from Solana, BSC, Heco and
Q2, 2022 BirdChain is launched
Q3 — Do you have any Coin Burn / BuyBack systems or any Token Burn plans to increase the value of Token & attract Investors to invest?
A3 — Yes, as I explained our token model, it’s a deflation system on itself. 50% of the total Bird has bene sent to the blackhole address upon launch. The smart contract will charge 6% Bird from each transaction. 2% of the charge will be added to the BIRD liquidity farm on DEX, 2% will be transferred to DAO governance farm, and the rest will be distributed to all bird holders proportionally. Since blackhole address has the largest allocation of BIRD, most of the transaction cost will be burned to the blackhole. Therefore, Bird enables the deflation of Token.
More of that, we will use our platform income to continue to buyback Bird from open market and send them to the Blackhole address, which will speed up the deflation even faster.
Q4 — What is the most important feature that distinguishes your project from other projects?
A4 — There are thousands of DeFi projects on the blockchain, and most DeFi projects are abandoned eventurally because of the problem with their economic model. The output of Token is too large, and there is no corresponding deflation mechanism to balance the output, leading to inflation. Thats why we design the self-deflation model of BIRD at the first place. Also, while the token model of Bird encourage people to hold, we also came up with at lease 3 more use-cases to help bird burn faster. such as smart farm mining will charges a little reasonable fees, and most of the fees will be used to buy back and burnd BIRD. With the continuous destruction and deflation of BIRD, the ultimate economic incentive will prompt everyone to become BIRD holders and promoters. We will also continue to develop more great defi products in our platform. We will always strive to promote the long-term development of BIRD.
Q5 — Are there any new partnerships and interesting upcoming use-cases?
A5 — Yes, we are currently working with CoinMarketCap about our airdrop event, you guys are all welcome to join us, details of the airdrop will be annonced later in our group https://t.me/BirdFinanceGlobal. Beside that, Bird will be listed on some centralized exchanges in the future, actually we have already contacted with few exchanges, they all love our project. And for new features, we are going to launch boardroom, and NFTs in this month. So stay tuned!