Hello, Satoshi clubbers Another AMA took place in Satoshi Club and we would like to introduce to you the AMA session with our friends from BRAINIAC and our guest was. The AMA took place on the 11th of December

The AMA session was divided into 3 parts with a total crypto reward pool of $500

In this AMA Recap, we will try to summarise the most interesting points for you.

Part 1 — introduction and questions from the Telegram&WebSite

Jonah 🏅🎹 | Satoshi Club:
Hello Wonderful Members it’s time for another AMA session

Jonah 🏅🎹 | Satoshi Club:
Our Guest today from BRAINIAC is
@cryptobrain69

Jonah 🏅🎹 | Satoshi Club:
Hello.. welcome to Satoshi club

Big Brain:
Hello!

Pavel P:
What a great day and wonderful guests from Brainiac! Welcome!

Jonah 🏅🎹 | Satoshi Club:
Nice to e-meet you Big Brain

Big Brain:
Nice to meet you guys!

Jonah 🏅🎹 | Satoshi Club:
How are you doing today?

Big Brain:
quite well hope everyone’s alright

Jonah 🏅🎹 | Satoshi Club:
Yeah… we are very Excited for this AMA

Pavel P:
Glad to see you here! At first, could you tell us in a nutshell about your project?

Jonah 🏅🎹 | Satoshi Club:
And while you do so can you also Introduce your self to us and how you got involved in this space

Big Brain:
Sure, brainiac’s goal is to become the next level of high yield farming and staking. After all the ohm forks we’ve seen, we’re experimenting to see just how far we can take it and how sustainable this style of rewards and farming can be

Big Brain:
I am the founder of brainiac but i’ve been in other projects before. This is my first one that’s about yield though!

Jonah 🏅🎹 | Satoshi Club:
How many team members do you have currently?

Big Brain:
Just 3 of us right now

Jonah 🏅🎹 | Satoshi Club:
Great.. are you all anonymous and from same region?

Pavel P:
Real brains!

Big Brain:
All of us are anonymous, but I am from asia, one is from USA, and the lead dev is in EU

Jonah 🏅🎹 | Satoshi Club:
Great Team.. with good diversity

Jonah 🏅🎹 | Satoshi Club:
Thank you for the Introduction.. we’ve selected some few questions from our community members, are you ready for them?

Big Brain:
yes! bring em on

Jonah 🏅🎹 | Satoshi Club:
Let’s Go

Pavel P:
Q1 from Telegram User @Billz120
Brainiac Farm – I understand there is BONDING in Brainiac Farm which gives discount to users who will purchasers vested $Brains by paying ETH and farming is Staking Uniswap LP Tokens, as users are incentivized to add liquidity and stake
Their tokens to receive $Brain Tokens and incentivized to bring in other farmers. How much of ETH would a user pay to purchase vested $BRAINS? Please explain to us how a user would be able to bring in other farmers to be incentivized? What is the use case of BONDING in Brainiac Farm?

Big Brain:
The bonding feature is based off of the bonding feature of OlympusDAO. So users are able to purchase discounted BRAINS with ETH (more assets/LP will be added later on) and these discounted BRAINS will be autostaked to receive yields (same rate as the stake section of the website). The cost per BRAINS token would be dynamic, so the site will always say how much the going rate is. If the ROI is negative, it’s best not to purchase, and would be better to buy off the market instead.

Big Brain:
The use of bonding is to build up the treasury for buyback and burns

Jonah 🏅🎹 | Satoshi Club:
What is the minimum amount of ETH required for this?

Big Brain:
Bonding is not yet live, but given the gas fees on eth we recommend at least 0.1 ETH. However, there will be no hard set limits on purchases

Jonah 🏅🎹 | Satoshi Club:
When do you plan to make the bonding live?

Pavel P:
That gives more freedom for users!

Big Brain:
It’s our top priority to get it out but there is no current ETA of when it gets released

Jonah 🏅🎹 | Satoshi Club:
Thank you for your great Answers

Jonah 🏅🎹 | Satoshi Club:
Ready for next question?

Big Brain:
yes!

Pavel P:
Q2 from Telegram User @Highpee
From your twitter post on November 12, you explained that $BRAINS will have a maximum supply of 1 billion and half of it is allocated as farming reward. However, while reading your litepaper, it was written that there is no max supply for $BRAINS and the emissions rate of farming reward will depend on both market price of tokens, as well as TVL. Can you explain which one is an accurate description of your token supply? Also, it is said that you will charge 5% from every LP withdrawal, unpair the ETH and use the unpaired ETH for manual buy back and burn. If you are only using the unpaired $ETH for buyback, what will you use the unpaired $BRAINS from the LP fee for? And since you will do manual burn after certain price drops, can you tell the price drops percentage that can trigger burning actions and the amount of token you intend to burn during each event?

Jonah 🏅🎹 | Satoshi Club:
Quite a long one..

Big Brain:
Yes so back in nov 12, we had v1 of the token, and the tokenomics changed since then. Because of the bonding feature and the tax that was added, there is no longer a supply cap. As for the LP unstaking fee, the BRAINS are directly burned and the ETH is used to do buybacks manually at the team’s discretion to avoid it getting abused. We intend to do 1-2 eth or larger chunks of buyback and burn to create hype and promote the token. Currently there is over $70,000 in the contract for this purpose

Pavel P:
By the way, could you share your tokenomics too?

Big Brain:
Yes you can find more here
https://brainiac-farm.gitbook.io/brainiac-farm/about-the-project/taxes-and-fees

but the initial distribution was just 15M tokens sold to private sale (for initial liquidity), and 10M tokens for Uniswap liquidity. Ever since then, the supply grows as rewards are minted for farmers and stakers

Jonah 🏅🎹 | Satoshi Club:
The buybacks are also Burned right?

Big Brain:
yup

Big Brain:
we do a lot of burning mechanisms to counteract the issuance

Jonah 🏅🎹 | Satoshi Club:
Awesome this is a Great Initiative for your Token…

Jonah 🏅🎹 | Satoshi Club:
Thank you for your great Answers

Jonah 🏅🎹 | Satoshi Club:
Ready for the Next question?

Big Brain:
yup

Jonah 🏅🎹 | Satoshi Club:
Let’s go

Pavel P:
Q3 from Telegram User @Anne_Tim
Brainiac is generous enough not to impose high taxes on its users. Currently the new $BRAINS token has a 3% token tax. 1.5% going to the project funds for development expenses, marketing, listings, etc. The other 1.5% goes to the buybacks contract. The 3% fee doesn’t take too much from buyers but also deters frontrun bots, which might cause some issues with buyers/sellers in the first version. Do the first 1.5% fall into governing power of $BRAINS holders? Are the users impowered to vote for selecting the way your project should develop or participate in helping to resolve any issues? Thanks!

Big Brain:
in the long term, the vision is to turn it into a DAO, but for now as we grow the project, the team will be making the decisions. Later on we will allow for voting on governance proposals using BRAINS tokens

Jonah 🏅🎹 | Satoshi Club:
I believe this also applies to your 5% unstaking fee, btw what do you use the unstaking fees for?

Big Brain:
Added to the treasury to buyback and burn tokens, to control the inflation

Pavel P:
Smart enough!

Jonah 🏅🎹 | Satoshi Club:
Yes I totally agree..

Pavel P:
Let’s proceed to the next question…

Jonah 🏅🎹 | Satoshi Club:
You do have alot of burns

Big Brain:
sure

Pavel P:
Q4 From Telegram User @Ajpaa

Brainiac envision to become the next evolution of high-yield farming and Single Asset Staking LP platform reducing risk exposure along with a mechanism that increases staking APY as TVL increases. What are the features you have implemented to reduce risk exposure associated with high APY like high inflation rate and sell pressure? How does the increase in APY mechanism work with increase in TVL? Lastly can you explain how emission rate of farming rewards is dependent on both market price of tokens, as well as TVL?

Big Brain:
Yes haha we aim to make it sustainable

Jonah 🏅🎹 | Satoshi Club:
And that’s Impressive I must say..

Pavel P:
It’s partially covered already

Big Brain:
we counteract the inflation by all the different burn mechanisms. However, it only comes into play when people start selling heavily, then we do buybacks to stabilize the price. As for how APY increases, here is the table that shows APY and TVL respectively

Big Brain:

Big Brain:
The price is a factor because we measure TVL in USD not tokens, so even if the same amount of tokens is staked but the price goes up, this may also lead to an increase in APY

Big Brain:
think that’s about everything

Jonah 🏅🎹 | Satoshi Club:
This is clear enough

Pavel P:
Let’s move to the question nr 5!

Pavel P:
Q5 from Tegram User @chinyere2020

In the farming feature of Brainiac, users are incentivized to add liquidity and stake their tokens. Can you give more information about this? Is there a minimum and maximum amount of tokens that users can stake? Will users be required to lock their tokens for a particular time in order to receive their yield? How is the APY for users who lock their tokens determined? In what currency will users receive their APY? Is there any guide which users can refer to in the case of any confusion?

Big Brain:
There is no minimum or maximum amount of tokens for staking. There’s also no lock up period, but do note the 5% unstaking fee, so it’s not wise to stake for too short a period of time.
The APY chart is also in the gitbook, and all rewards are sent in BRAINS.
Feel free to refer to this document for things like that
https://brainiac-farm.gitbook.io/brainiac-farm/

Jonah 🏅🎹 | Satoshi Club:
Asides BRAINs do you have plans to distribute rewards In other Tokens?

Big Brain:
Not rewards but eventually the staking section is planned to expand into something like pancakeswap’s syrup pools where you can stake BRAINS to earn a launching project’s tokens

Pavel P:
What is the minimum period you would personally suggest to keep it on staking?

Big Brain:
at least a week, I’d say

Pavel P:
Well noted!

Jonah 🏅🎹 | Satoshi Club:
Thank you for your Answers

Pavel P:
Let’s move on! The last question of the 1st part is almost here!

Pavel P:
Q6 From Telegram user @nhairym

I really find your literpaper quite nice because it includes the links and demonstration videos, please tell us how you plan to stay active and attract users once its launch is over, you can explain in detail the real essence of Brainiac, what are your goals and milestones, and why among so many chains with similar and cheaper advantages and properties did they choose Ethereum, what are their farms and active pairs and what are their integration plans for other chains?

Big Brain:
Right now we have a marketing plan coming in the next few days, the roadmap includes auto compounding, bonding, etc. You can see more here https://medium.com/@brainiac.farm/brains-relaunched-55bfca1759fd

Ethereum is the most secure and decentralized network. In terms of long term vision, we believe it is guaranteed to survive the test of time, as it already has been around for a while. The only Farming pair will be WETH/BRAINS

Jonah 🏅🎹 | Satoshi Club:
So in other words there are no plans of Integrating other chains?

Big Brain:
not at the moment

Jonah 🏅🎹 | Satoshi Club:
Alright… Thank you for your answers in this First part of Our AMA

Jonah 🏅🎹 | Satoshi Club:
We will now proceed to the second part.. our members are eager to ask you their questions directly

Jonah 🏅🎹 | Satoshi Club:
Are you ready for some action?

Pavel P:
Before we open a chat, could you share your useful links with Satoshi Club community

Big Brain:
Follow us on twitter
https://twitter.com/BrainiacFarm
I see a lot have already joined the telegram group

Big Brain:
Stake here
https://www.brainiac.farm/
Buy links are on the website

Pavel P:
Satoshiclubbers, please note as this is great opportunity to invest! Real Brains are working on it!

Jonah 🏅🎹 | Satoshi Club:
Get ready satoshiclubers Opening Group in 10 seconds..

Part 2 — live questions from the Telegram community

Q1 from Telegram user @Rinkus987:

I wants to Join the BRAINIAC Farm anf add liquidity and stake my okens to receive $BRAINS tokens. Is there any FARMING GUIDE available which can help me and What Incentives I will get ?

Big Brain:

Full farming guide here
https://brainiac-farm.gitbook.io/brainiac-farm/guides/farming-lp-staking

Q2 from Telegram user @Ratash97:

Do we have the option of unstaking our tokens anytime ?

Big Brain:

Yes anytime, no lock ups, just note the 5% fee

Q3 from Telegram user @Alixbella:

Hi Brainiac, is it possible to withdraw the ETH in the buyback contract? How can we request it … Is there a function in the smart contract to buy and burn tokens? @cryptobrain69

Big Brain:

There is an emergency withdraw function but is only going to be used for extreme measures. Otherwise we will never use it, the main function of the contract is to buyback and burn.

Q4 from Telegram user @Chrisboy5:

How do you help users deal with high cost of gas fees seen in Ethereum?

Big Brain:

We have auto compounding planned, to help mitigate gas fees

Q5 from Telegram user @Kichubujhonadudukhau:

Too many projects promise magic but never release any working product or prove any revenue, Within a short/long time of release. Is your project also like this? If not can u tell us, What makes your project different from other projects?

Big Brain:

This project launched with farming and staking already available, fact is smartcoin which partially inspired our project, still hasnt added staking until now. Proof is already here

Q6 from Telegram user @Modrumz120:

I interestingly read from your website that Buybacks are performed via smart contract. So what are the schedules you’ve put in place? Is it going to be weekly, monthly, quarterly or yearly?thank you

Big Brain:

It will be random, so if it’s a heavy selling day, we could do multiple in a day. Or none at all. We do this so people cannot take advantage of buybacks and dump on us

Q7 from Telegram user @JoanaZ:

The token $Brains looks that is very important in your ecosystem, so can you tell us what are the most important roles that this token can takes? Also I read that Uniswap is the only place to buy it, so do you have any particular plan to list this token is other exchanges?

Big Brain:

Centralized exchanges will be added yes .

Q8 from Telegram user @Nairabox:

Currently, what is the fees for unstaking like?

Big Brain:

5% unstaking both farming and staking

Q9 from Telegram user @Pokerlight:

The service of Brainiac is focused on farming and staking, but Brainiac will offer more services like lending, borrowing or NFTs?

Big Brain:

We’ll look into lending and borrowing!

Q10 from Telegram user @benio3:

Since the market is unpredictable, how will you prevent $BRAINS token from falling below its “backed value?

Big Brain:

We have a treasury from both tax on tokens as well as bonding proceeds, we will have a lot of ammunition for this.

Part 3 – Quiz Results

As usual, for the third part, Satoshi Club Team asked the chat 4 questions about the crypto project. A link to a Quiz form was sent into the chat.

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Twitter-https://twitter.com/BrainiacFarm
WebSite – https://www.brainiac.farm/