Flush.Lol x Satoshi Club AMA Recap from 23 of December

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 Flush.lol and our guest was Turd Burglar. The AMA took place on 23 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&Bitcointalk community

Luis Merino :es: | Satoshi Club: Hello SatoshiClubbers! I’m back for Christmas :)) to host a great AMA with our mates from flush.lol

@turd_burglar welcome to Satoshi Club

Mary | Satoshi Club: Hello, Satoshi Club! We are happy to announce our AMA session with flush.lol! welcome to Satoshi Club

Turd Burglar: Hey all! Pleasure to be here.

Mary | Satoshi Club; Hello, Turd! How are you today?)

Turd Burglar: Great! Hope you all are great too 🙂

Mary | Satoshi Club: Of course! Please, introduce yourself and tell us more about flush.lol project . It’s really exciting, we were waiting for this AMA since saw announcement

Turd Burglar: Thank all of the participants and orgs for having me.

I’m an anon dev. Sorry if someone is not comfortable with that. But i want people to focus on what i do, but not who i am. i think that product is a first priority in the DeFi sphere.

I represent flush.lol project, which consists of the two parts: flush and plunger (upcoming). briefly about them:

1. https://flush.lol

Flush is a decentralized platform which allows users to spend their failed DeFi tokens and take a chance to win ETH in our games. With every bet player also earns 🧻 PAPER — the native token of Flush platform.

Stop thinking that price will recover and you will get out in lambo. Just flush your sadness along with your tokens. The only chance you have is to flush and win! Let’s clear the market together!

2. https://flush.lol/plunger

Plunger is designed to make you profit out of any of your tokens without selling or exchanging them.

Similar to Compound. But Plunger users can use almost every DeFi coin as a collateral. Also CDP has not only one token. Users can make their CDPs from the bunch of tokens they have to diversify a risk of liquidation.

With Plunger you can just lock the tokens you wanted to hold in CDP, get ETH and use it to trade, deposit, pay some needed expenses, etc. And you won’t miss any potential profits because you still own all your tokens.

But this is not all! Plunger will also has its own Vaults. So what you need to make additional profit with your DeFi altcoins CDP? Nothing, just lock your tokens and start making profits, yes, that’s simple!

sorry it’s quite long

Luis Merino :es | Satoshi Club: Thank you! Great intro

That’s great! The more info the better :))

Turd Burglar: thanks!

Mary | Satoshi Club: Nice intro and let’s dive into details? We have some questions that we collected from our community

Ready?

Turd Burglar: Sure! We are here for questions

Luis Merino :es: | Satoshi Club: Let’s go!

Q1 from Telegram user @Ubik1337

Flush your sadness along with your tokens… I like the idea that you help people to gain at least some profit out of their useless tokens, and at the same time make them smile a bit. What was the initial idea behind your project? When you made flush.lol you thought about how you can make profit out of garbage (useless tokens) or you thought about this more like a meme project which can help people releave the psychological tension and not suffer from situations that already passed?

Turd Burglar: Very good question.

The initial idea was to help people to make profit out of failed tokens. That’s why now I’m working on Plunger, which will help users earn even more profit. Not just flush these tokens, but get some passive income out of it.

Cause I see there are a lot of people who still believe that some of the tokens will recover and not ready to flush them yet.

Mary | Satoshi Club: Didn’t you think that the loser gets even more sadness? I mean your game You do not compensate them for double tears?)

Luis Merino :es: | Satoshi Club: You said I’m working…? How big your team is?

Mary | Satoshi Club: And yes, i know what hope means:joy: and that sometimes it’s better to flush this hope

Turd Burglar: Ha-ha. Now if you flush – you get 1 $PAPER for it, which is worth ~$10, so there is some compensation as well 🙂

Luis Merino :es: | Satoshi Club: Not bad

Mary | Satoshi Club: Oh, really?) Even if this tokens price less then 10$?)

Turd Burglar: I started on my own, but now I have a couple of guys from the initial community who are helping me a lot

Mary | Satoshi Club: Oh, really?) Even if this tokens price less then 10$?)

Yes. But there is a minimum amount to flush. It’s equal to 0.015 ETH

Mary | Satoshi Club: 🤘 it’s cool

Luis Merino :es: | Satoshi Club: Starting a project alone shows you are so brave. Congrats

Mary | Satoshi Club: So, no more tears, just lol)

Turd Burglar: exactly!

Q2 from Telegram user @Coin4me

The time of The Last of Us game is limited by 69 blocks, then you determine a winner. Do you mean that a bet transaction must be confirmed within this time to participate in the round? But it’s happening often that ETH network is clogged because unstable gas price and this could cause a long delay of confirmation. So, it might happen that some transactions would send at time, but would confirmed after you have determined the round winner, and some of those bets might be even bigger than the winner has, i.e. actually someone else should become a winner. What will you do with such transactions those have been confirmed too late? Will you return these bets? Or, will those people just lose money because of ETH network issues?

Turd Burglar: In this case, winner of the previous round takes the reward and bet from the question goes to the next round.

No bets or money will be lost

Mary | Satoshi Club: So, did you already have such issues?

Turd Burglar: It’s not an issue, it’s just one of the cases, which is foreseen in the smart contract code. Yes, there were some and everything is ok. I tested all cases before the release

Mary | Satoshi Club: Btw, how long usually one round continues?

You are a very prudent dev

Turd Burglar: For now there are not a lot of users so one round could last even for a couple of days. Hope the situation will be changed soon

Luis Merino :es: | Satoshi Club: It will. Satoshi Club Effect is coming

Turd Burglar: Yes, I can see it. Thanks for the opportunity! 🙂

Mary | Satoshi Club: You need more?) I think you’re in the right place, as we all have failed tokens, i think

Is this just for defi tokens? Or i can flush all my 2017 ETH acc?

Turd Burglar: Not cool that a lot of people have may of failed tokens. Hope the project will help you. At least to smile

Any ERC20 tokens which are listed on uniswap

Mary | Satoshi Club:I am smiling even when i imagine how i flush all my 100+ tokens no matter if i will do this or not)

Q3 from Telegram user @magic2crypto

You promise 30% APY to defi tokens stakers and 5% APY on loans in ETH, as it’s stated on the site. But as i can see on the same page, you are planning to take only up to 15% APY from those who is pledging defi tokens to you in order to get ETH credits. Obviously the promised passive income on deposits is more than a potential income you can get from borrowers. How do you think to cover this difference? Where will you get from around 20% APY those are missing in a such scheme?

Turd Burglar: There will be Plunger vaults to make the additional profits.

Also please notice that Plunger is at the development stage at the moment and these numbers are approximate for now. It will be released in January

Mary | Satoshi Club: Could you tell us more about Plunger?How it will work?)

Turd Burglar: Yes, give me a few minutes please

Could i use images?

Mary | Satoshi Club: Of course

Luis Merino :es: | Satoshi Club: Yes!

Turd Burglar

Plunger is designed to make you profit out of any of your tokens without selling or exchanging them.

It’s simple, we have two parties: ETH lenders and Tokens lenders.

Tokens lenders can create a CDP, which would contain a bunch of DeFi tokens. It will be used as a collateral to borrow an ETH from ETH lenders.

Luis Merino :es: | Satoshi Club: Plunger is great :))

Turd Burglar: Why do you need to use a Plunger? You’re an altcoin DeFi holder and you believe that some of your holdings will grow up to make you a multiple profit?

Without Plunger you’d hold your tokens and wait until the price will go up without any possibilities to use these money: if you just exchange it to ETH for some time, you will probably miss the impetuous growth of the token price and miss your profits.

And if the price will significantly drop for 50% or more and you don’t react on time — you can lose a big amount of your funds.

And if the price will significantly drop for 50% or more and you don’t react on time — you will still have 50% in ETH, so it will work for you as a risk hedging tool.

it’s a short version

Mary | Satoshi Club: So, in simply words – i will need lock my tokens on your platform?

Turd Burglar: and apply to the whitelist here https://flush.lol/plunger

to try it first

yes, and get ETH loan or just a passive income – up to your choice

Mary | Satoshi Club: Oh! That’s it

Luis Merino :es: | Satoshi Club: Thank you for the great explanation!!

Turd Burglar: thanks

Mary | Satoshi Club: Everything is clear and attractive

What about audit?

Turd Burglar: There is no official audit yet. Of course I will need it after the Plunger release.

But there were a few users in the group who checked the flush code publicly. It’s not big and complicated

Question 4 by Telegram User @Highpee

I must say that your project is particularly interesting in it’s scope and what it set to acheive . You have described your project as a decentralized platform which allow your users to spend their failed tokens with a chance to win ETH. Do you mean you support ALL form of Defi tokens? Also, your project runs on the Etherium network, do your platform only support tokens from Etherium blockchain or the tokens that your users can use cut across various blockchain network?

Or you think another blockchains don’t have tokens to flush?

Turd Burglar: as i said for now it’s only ERC20 tokens, which are listed on Uniswap. i have plans to expand it, but it’s not a first priority at the moment.

ha-ha, no, i’m just focused on the product market fit before scale.

Luis Merino :es: | Satoshi Club: That’s great

Mary | Satoshi Club: We are in hurry to get rid of all our tokens

Luis Merino :es: | Satoshi Club: Yes we are!! Haha

Turd Burglar: everybody is welcome

Mary | Satoshi Club: Sometimes I envy people who only

own 3-4 coins

Turd Burglar: share flush with friends who have failed tokens, bring them some fun

Question 5 by Telegram User @brodzonl

Why did you create your logo that simple only wave and toilet sticker? How can investors consider this as obvious investment with this logo?

Luis Merino :es: | Satoshi Club: Short but interesting question

Turd Burglar: i love the simplicity and fun. i’m not focused on convincing people to buy $PAPER, i’m focused on building a solid product with users and working tokenomics. if it will work this way, i think that simple logo won’t be a problem 🙂

Mary | Satoshi Club: That’s true)

Btw, did you have sale or pre-sale?

Turd Burglar: also it’s a some kind of an attention grabber 🙂 i’m tired of boring and “smart” brandings of the projects which has nothing behind that.

no, community voted against it

Mary | Satoshi Club: How did you distribute tokens?)

Luis Merino :es: | Satoshi Club: Through governance?

Mary | Satoshi Club: rebellion against boredom:joy:

Turd Burglar: through the governance in telegram group. the community was quite small at the moment

Luis Merino :es: | Satoshi Club: Oh okay :blush:

Mary | Satoshi Club: Nice!)

Turd Burglar: PAPER — is a native governance token of Flush project. Max. supply for PAPER is 69 000 tokens. Yes, only 69 000 tokens. And no more tokens will be ever minted.

PAPER is an anti DeFi bubble index asset. More projects failed means more players we have, spending their unlucky investments, which means more PAPER tokens bought from the market, and finally PAPER price grows. All players get tokens for every bet: starting amount is 0.5 PAPER for each bet.

Of course there is a dev. fund — 10% from all minted tokens.

PAPER token holders will be able to vote on what goes live and when, in order to decentralize the project’s work.

Also there is an anti-inflationary system is applied to the platform:

10% of all drawn ETH will be used to auto market-buy the PAPER token from Uniswap:

7% of all purchased tokens will be sent to 0x0000…. and circulating supply will be decreased forever.

3% from purchased tokens will be sent to the distributor address (read more below).

1000 tokens (1.45%) will be pre-minted at the start to provide liqudity.

Mary | Satoshi Club: Perfect system

Turd Burglar: and I’ve locked all the initial LPs which I had

Mary | Satoshi Club: With third part?

Turd Burglar: but now we have a voting system: https://gov.flush.lol/

yes, UniCrypt

again, community voted for that

Luis Merino :es: | Satoshi Club: Thanks!!

Mary | Satoshi Club: Best community

Turd Burglar: they are helping a lot!

i’m grateful

Mary | Satoshi Club: Next question? It will be 6th and last question from this part

Turd Burglar: ready

Question 6 by Telegram User @a6hmadjohon

The number of scams in projects has increased, therefore the lack of trust in travel reservation platforms is a common problem among users. How does Flush.lol intend to solve this problem?How do users ensure that the tactic of artificially inflating prices will not be implemented?

Turd Burglar: There is an oracle which is checking the token before it used by flush. It’s very simple now. In Plunger I will have complex oracles system, which I’m going to explain in my Medium article soon.

Mary | Satoshi Club: Ok, waiting for this article then

Turd Burglar: thank you guys for the 6 Great questions! It was really interesting!

Part 2 — live questions from the Telegram community

Q1 from Telegram user @Nickkiii

Do you have any Step-by-step guide that can direct me on how to play on https://flush.lol?

Turd Burglar: Yes, https://flushlol.medium.com/flush-lol-how-to-play-guide-8cf1fb45e6f2/

Q2 from Telegram user @KASG95

projects that promise very high profits at a very low price turn out to be scam, how to know that Flushlol is not Scam? If we do not even know who is your management team or where was this project developed and registered?

Turd Burglar: i believe that crypto and defi world is trustless in its own nature. people don’t need to trust and know each other any more. transparent system with open code – this is all you need to see to make your choice to use it or not. always dyor 🙂

Q3 from Telegram user @Boylut

When will Plunger go live? Q1 2021 or Q2 2020? Can’t wait to start earning with it. Kudos guys

Turd Burglar: Plunger is planned to be released on January 2021. Please, stay tuned and check all news on Twitter and Telegram group

Tweets by FlushLoL

https://t.me/flushlol

Q4 from Telegram user @AugusS7

The vast majority of DeFi users must have large amounts of tokens that were scam, others that failed and many that are not yet marketable, with Fluslol can I use each of them and be able to obtain large profits? or do they have to be tradable tokens on Uniswap?

Turd Burglar: tokens have to be tradable on Uniswap, yes

Q5 from Telegram user @dumpspump

Governance is really important for projects to grow bigger what do you think about governance?

Turd Burglar: almost everything what happend to flush yet was decided by community. i’m a fan of decentralization

Q6 from Telegram user @Xusuo

As a Defi Project, it will not complete without Yield Farming. So what is percentage reward that user will got from Flush.lol farming?

Turd Burglar: 3% of the each reward of each round goes to farmers. also we have an airdrop program:

All the LP stakers, who’re staking their LP in the farm smart contract will get 7100 🧻 PAPER as a bonuses:

– After the PAPER/ETH market cap will reach 9 ETH, 100 PAPER to be distributed among the farmers;

– 18 ETH mc +200 PAPER;

– 54 ETH mc +300 PAPER;

– 90 ETH mc +500 PAPER;

– 180 ETH mc +1 000 PAPER;

– 900 ETH mc +2 000 PAPER;

– 1 800 ETH mc +3 000 PAPER.

Q7 from Telegram user @alyaakin

Do you need our wallet private keys for flushing tokens?

Turd Burglar: of course not! you can use it with metamask app. don’t give anyone your private keys 🙂

Q8 from Telegram user @Joseunda

Could the community create their own games in the future?

Turd Burglar: yes, if community will offer some new game ideas, of course it would be considered!

Q9 from Telegram user @KeymerS

How often will new betting sessions be held at Flushlol? and can I participate in all of them? regardless of whether you have lost or won multiple times?

Turd Burglar: It’s always live. New round starts right after the previous one ends. You can play any, multiple times. No restrictions

Q10 from Telegram user @DiegoRME

Competence of meme active?

Turd Burglar: yes, everyone is welcome to join flush meme competition 🙂 Just started today