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 Single Finance and our guest was . The AMA took place on the 17th of January
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
Gold Rocket | Satoshi Club
Greetings, dear Satoshi Club community! We are pleased to announce AMA with Single Finance
Today our guest is @jaheemleh
Gold Rocket | Satoshi Club
@jaheemleh hello and welcome to Satoshi club!
Kenny Denton Jr.
yohooo!!
Kenny Denton Jr.
hello everyone
My honour to be here
Gold Rocket | Satoshi Club
How are you doing?
Kenny Denton Jr.
can’t be better, and you?
Gold Rocket | Satoshi Club
We are really excited about upcoming AMA with you
Andrés M. | Satoshi Club
Nice to meet you
Gold Rocket | Satoshi Club
Let’s start! Introduce yourself please. How did you get to be involved in crypto & Single Finance
Tell us please about your position in Single Finance
Kenny Denton Jr.
Sure
I am the Chief Farming Officer and co-founder of Single Finance and also the guy behind the whole product! So you may ask me anything about the product and farming strategy. Single Finance is a super intuitive platform to all your DeFi investments minimizing correlations to the general market.
We can’t say we are seasoned in DeFi – it’s a new gift brought to the world not long ago – but we can confidently say we have been involved since the early days, managing our own farms. But then one day we messed up big time when our positions got liquidated during market collapse.
We were farming a pair at 3x leverage but suffered a flash loan attack. The platform locked all actions while the asset price dropped 80% in just a few minutes, and we got liquidated and lost 105% of our capital from the position. We thought we could have at least gotten half of our capital back, since we monitored the position very closely. Even though we had stared at the screen every minute, our effort was in vain – thanks to the platform policies and extreme volatility.
We don’t want to repeat this ever again and we have then decided to build our own platform with all the bots and strategies and metrics that we ourselves find useful and that’s Single Finance.
We have some super strong engineers of course, and we are very proud to have farming experts and data scientists in our team. And you will see how they contribute to this wonderful platform soon.
Andrés M. | Satoshi Club
Interesting experience, but is something to learn of
Andrés M. | Satoshi Club
So, are you working with AI developers?
Kenny Denton Jr.
yes, on project basis
Gold Rocket | Satoshi Club
Give us a brief introduction to the project. What is the essence of Single Finance
Kenny Denton Jr.
3 things you will have to remember us, just 3 things!!!!
Single Finance is a DeFi investment platform with a human touch – we aim to provide all the tools and strategies that suit you just right:
Single Click Pseudo Market-Neutral Strategy to minimize impermanent loss
Single Finance is bringing a human-centric, ultra user-friendly experience and capital protection to DeFi, helping everyone earn more money with an ease of mind. The primary goals of both new and experienced farmers are simple: to earn high yields without suffering too much impermanent loss or being liquidated in a flash. Single Finance users can simply supply assets and enjoy our pseudo market-neutral liquidity mining strategy with just a single click.
Marked-to-USD Capital Protection Bot
The best thing about Single Finance is that everything is marked to USD. Not only is APY worked out in USD, our capital protection mechanism is based on your initial investment principal valued in USD. Therefore, Single Finance strategy users won’t lose more than 15% of their capital in USD, as their capital is protected by a stop-loss bot and a rebalancing bot. Just pick your favourite liquidity pairs and leverage exposure on Single Finance, and our bots will handle the rest to keep your capital safe and your sleeps tight.
Liquidity Pool Time Machine
This groundbreaking feature provides real return performance data, including trading fees, DEX yields and price impact, to help users pick their winning pairs. Time Machine also allows users to compare the performance between farming a liquidity pair versus holding the non-stablecoin asset of the same liquidity pair.
Andrés M. | Satoshi Club
That sounds like excellent tools for exchanges, are you working with some of them directly or do you have your own Dex?
Gold Rocket | Satoshi Club
Yeah… It’s really amazing
Kenny Denton Jr.
no, we don’t have our own DEX. so we spend huge effort in searching for quality partner, like VVS, the largest DEX on CRO
Gold Rocket | Satoshi Club
Also we would like to know more about your team. Who is on the project team core?
Andrés M. | Satoshi Club
Oh great name, congratulations
Gold Rocket | Satoshi Club
good partners are the key to the success of the project
Kenny Denton Jr.
Expect experienced IT experts and people from traditional banking industry, we have members who was flying commercial planes as a captain, lawyers who started investing crypto who self learnt to become programming experts.
all these people are determined to develop their careers in Defi and now we are in the same office cooking something great
Gold Rocket | Satoshi Club
Do your team anonymous?
Kenny Denton Jr.
this is a tricky question. we try not to be but for some legal issues of some countries, this is the best option for us to protect the project and the development.
Andrés M. | Satoshi Club
Great, Kenny, happy to know about your team, know we are even more excited to learn about Single Finance. Are you ready to proceed with the community questions?
Kenny Denton Jr.
sure
Gold Rocket | Satoshi Club
thanks for your great introduction
Andrés M. | Satoshi Club
Q1 from Telegram User @Ecmq10
Hello Single Finance team. On your website there is a header that says that the $SINGLE tokens are not yet available for sale, and that the date of the sale is planned for January 19. Can you tell us more details about this sale? I would like to know more. On which platform will it take place? How much will be the allocation of $SINGLE tokens that will be allocated for this sale? Can we participate without registering on a whitelist or do we have to register? What will be the payment methods accepted in this sale? Will you hold a single event or do you plan to hold multiple events on different platforms? Thank you!
Kenny Denton Jr.
Thank you. Looks like you have not joined our TG or visited our twitter. Honestly you have already missed the chance to get qualified for the VVS IGO, as you have to stake a specific amount of VVS for 7 days
BUT we are getting listed on VVS on 19th JAN following up by a double listing on MEXC and gate.io (http://gate.io/) on 20th JAN
For marketing events on these platforms, join our TG for more info. and if you have any question, tag our TG admin and you will be answered shortly!
Gold Rocket | Satoshi Club
Great news!
It is very important to have good listings
Kenny Denton Jr.
sure!
Andrés M. | Satoshi Club
Congratulations, why you decided to do an IGO and not an IDO? What is the difference or benefits?
Kenny Denton Jr.
Well, as you heard VVS was searching a quality project to be its first one of its launchpad and VVS supporters had waited for like 6 months. They finally decided to pick us for some good reasons. this gives an good impression to our investors for sure.
the benefits of having an IGO is that the launch is preheat, organised, and somehow allow us to promote our product in a better way.
you can noticed there are a lot of youtube VDO talking about this!
Andrés M. | Satoshi Club
Thanks for the clarification, our best wishes for this important event for Single Finance
Andrés M. | Satoshi Club
Q2 from Telegram User @ProwGrowl
One more initiative brought by Single Finance is Capital Protector Bot. Besides the idea of easy, fast and predicted strategy used by Bot, how does exactly it operates especially is this volatile market? As a potential user of bot, can I set all position price changes in advance to make right decisions in case of necessity? Are the people who use bot protected from liquidation?
Kenny Denton Jr.
thank you. you know, stop loss is not a rocket science, esp when you are investing in the traditional financial world, we just bring it here to the DeFI world. very often you will see super high APY in some DeFi platform that we think it’s misleading, without considering the assets price itself.So with the stoploss bot together with out fair presentation of your capital position in USD, you have a very clear visibility on the risk exposure of your invetment decision. you are then far from being liquidated
Gold Rocket | Satoshi Club
we understand you
Andrés M. | Satoshi Club
Thanks for the answer, could you tell us in which kind of market can we use your bots? Is most useful on futures, spot, margin trading? Or is the same for each trading style?
Gold Rocket | Satoshi Club
We all work with high risk assets
Kenny Denton Jr.
all yield farming trades on our platform, whether it’s leveraged or not
Andrés M. | Satoshi Club
That’s what I called inclusion, every trader is welcomed
Andrés M. | Satoshi Club
Well @jaheemleh are you ready to go with the next question?
Gold Rocket | Satoshi Club
Thanks for your great answers
Kenny Denton Jr.
can’t wait longer
Andrés M. | Satoshi Club
Q3 from Telegram User @Modrumz120
I learnt that The total supply of SINGLE is 1,000,000,000 can you tell us the requirements needed for $SINGLE token holders to be able to participate in protocol governance and what will be Their benefits in $SINGLE token to early token holders? You also mentioned that SINGLE token holders can participate in protocol governance by staking SINGLE for xSINGLE in the future. Can you elaborate more on how this staking process will work and how does it tend to benefit the $SINGLE token holder?
Kenny Denton Jr.
Talking about protocol governance, we have put in our roadmap for coming year end and to be honest we have not reached a details conclusion but we think that something like what is CURVE doing is good.So stay tuned to our channels, and you will know the latest update
Gold Rocket | Satoshi Club
By the way, we will be grateful if you share your roadmap
Andrés M. | Satoshi Club
We will, do you have an announcement channel?
Kenny Denton Jr.
yes, sure
https://t.me/singlefinancenews
Andrés M. | Satoshi Club
Satoshiclubbers, let’s join
Gold Rocket | Satoshi Club
Thanks for your answers
Gold Rocket | Satoshi Club
Let’s proceed with the new question if you don’t mind
Kenny Denton Jr.
sure
Andrés M. | Satoshi Club
Q4 from Telegram User @Danniblaiz
Of recent, many Decentralized exchanges have been exploited in one way or the other. Of known is the recent exploitation of Cronos, the Ethereum Virtual Machine (EVM) compatible network launched by cryptocurrency exchange Crypto.com. There are many other DEXes that have experienced similar event as well. What is single finance putting in place to ensure that bugs and exploitation like this is avoided and users information and assets secured? Regarding security, you got your first audit report from Certik on 22 Dec 2021, and I read that you will be getting your second audit done in Q1 2022. How was the audit with Certik and what really primed Single finance to want to do a second audit? Would there be other audits in the future as well?
Kenny Denton Jr.
Talking about audit, you will soon be seeing our name on Certik, I heard the update from my team is like within 48 hours. other than that we plan to get a second audit, we will let our fans know once we have decided who is this.
hackers are everywhere and the key is that our developer keep upgrading themselves by acquiring the most updated trend and knowledge in the market.
Andrés M. | Satoshi Club
Great job, congratulations to your team for this important milestone
Andrés M. | Satoshi Club
Would you like to add something before the next question?
Kenny Denton Jr.
Guys, dont miss our double listing on 20th JAN 1800hrs UTC+8, plus all those marketing events, free SINGLE tooken!!!!
Andrés M. | Satoshi Club
Amazing opportunity. Btw, what will be the listing price and initial market cap?
Gold Rocket | Satoshi Club
Kenny Denton Jr.
the IGO price is $0.05 and 50M
Gold Rocket | Satoshi Club
Don’t miss great opportunity Satoshi clubbers
Andrés M. | Satoshi Club
Gotcha, we are sure it will moon
Andrés M. | Satoshi Club
Well, 5th question is knocking the door, let’s proceed. Thanks for your clear answers
Gold Rocket | Satoshi Club
Thanks for your answers
Andrés M. | Satoshi Club
Q5 from Telegram User @JesusFre1tes
It comes to my attention that Single Finance has a “pseudo market neutral” strategy. Can you explain us what are the main applications and benefits that this strategy offers to the users of your platform? How does this approach make Single Finance a super intuitive platform for all my DeFi investments and minimizes correlations with the overall market?
Kenny Denton Jr.
when you are farming a pair of crypto currency, let say CRO/USDT, with 3x leveraged, with 1000 USD. you will borrow $3000USD CRO so you are holding but on the other hand hedge all your position by borrowing which makes you almost risk free.Single Click Pseudo Market-Neutral Strategy to minimize impermanent loss
Single Finance is bringing a human-centric, ultra user-friendly experience and capital protection to DeFi, helping everyone earn more money with an ease of mind. The primary goals of both new and experienced farmers are simple: to earn high yields without suffering too much impermanent loss or being liquidated in a flash. Single Finance users can simply supply assets and enjoy our pseudo market-neutral liquidity mining strategy with just a single click.
Andrés M. | Satoshi Club
An innovative strategy for a volatile market
Gold Rocket | Satoshi Club
it is very important to get high yields and not have irreparable losses
Gold Rocket | Satoshi Club
Thanks for your explanation
Andrés M. | Satoshi Club
Btw, do you have guides about how to use those tools correctly?
Kenny Denton Jr.
Yes, we are preparing some vdos. but as the name Single Click suggests, just a click!
Gold Rocket | Satoshi Club
Great answers
Gold Rocket | Satoshi Club
Many thanks
Andrés M. | Satoshi Club
Excellent, we will be waiting for the videos to use correctly the amazing features you offer to the market
Kenny Denton Jr.
yes, wont be a long wait
Andrés M. | Satoshi Club
Well, time to proceed with the last question of this first part of the AMA, it has been an amazing time learning about a strong project
Andrés M. | Satoshi Club
Q6 from Telegram User @Antoni_azx
According to your roadmap for the beginning of this year your LP Time Machine will support Ethereum and Binance Smart Chain data, however I could see that you will seek alliances with companies like Avalance and Cronos, could you tell us if the compatibility of the LP Time Machine could be extended to more chains? Also, taking advantage of this topic, could you tell us the main advantages of this feature? How will users benefit for the long run?
Kenny Denton Jr.
So, it will support evm chains at first which covering a lot of pairs. surely we will be moving to other chains to have a bigger picture.
The value of it is clear, to allow you to make a better decision before you start trading a pair. just like a back test, with simples clicks.
Andrés M. | Satoshi Club
Which chain is your token developed on and why?
Gold Rocket | Satoshi Club
it would be great to get information about tokenomics
Kenny Denton Jr.
Home chain is Cronos. Because we believe CRO has a lot of potential and it’s back by Crypto.com, and now we are the 1st LYF platform on it
Andrés M. | Satoshi Club
Yes, meanwhile, prepare your questions, Satoshiclubbers
Kenny Denton Jr.
Andrés M. | Satoshi Club
Completely agree, is a good chain with similar features with your project
Thanks a lot for share it and for your complete answers, now we are ready to go with the second part of the AMA. The live segment is coming
Kenny Denton Jr.
love it
Gold Rocket | Satoshi Club
Great! Btw, share with us all useful links to your social media
Kenny Denton Jr.
Don’t forget to follow social media and join our group during the AMA session
Official website : https://singlefinance.io/
Twitter : https://twitter.com/single_finance
Medium :https://medium.com/singlefinance
Discord: https://discord.gg/raQcBPXEWu
Linkedin: https://www.linkedin.com/company/singlefinance/
Telegram : https://t.me/singlefinanceofficial
mc Telegram : https://t.me/singlefinanceindonesia
Gold Rocket | Satoshi Club
Let’s proceed to live
Part 2 — live questions from the Telegram community
Q1 from Telegram user @UAEhamdan
A lot of projects tend to launch only on DEXs forgetting how helpful it is to launch on CEXs as well so are you guys willing to list your token on centralized exchanges ? and can you give us a name of at least one of them too ??
Kenny Denton Jr.
Thank you. the reason that not to be listed on CEX is that the listing fee may be high, and not every project is backed by strong VC and investors. but this is not the case for us, we are double listed on CEX
You will know the CEX names if you follow our TG
Q2 from Telegram user @emmy066
Can you tell us about Single Finance’s global expansion plans? What are you currently focusing on for expansion and adoption?
Kenny Denton Jr.
Good one. we will be supporting more chains in the near future and with the expansion supported by the time machine, we know we are going to the right direction
Q3 from Telegram user @hansoyeon
Can you give an overview of the functions and benefits of the $SINGLE token?
Kenny Denton Jr.
The SINGLE token four main utilities:
Decrease the performance fees paid to Single Finance Lab.
Increase the mining rewards.
Access exclusive Single-click strategies that provide higher returns and lower risks.
Claim our exclusive NFT in a limited period.
Q4 from Telegram user @adaatalay
Do you have a coin burn or redemption system to increase the coin value and attract investors?
Kenny Denton Jr.
If you have read our Litepaper, you know part of the performance fee collected is for buy back and burn, and the fame to fuel the rocket to the moon!
Q5 from Telegram user @cenkkargin0666
Can you tell us about Single Finance Lab, what are the fees for Single Finance Lab? What are the ways to get a discount in Single Finance Lab?
Kenny Denton Jr.
We will release more details on the fee. and by staking SINGLE on our platform, you can lower the fee to a very very low level. stay tuned and perhaps we may issue our own NFT for you to stake and lower fee as well.
Q6 from Telegram user @Tommy_UK
On your platform will there be an option for portfolio Management / Analysis?
Kenny Denton Jr.
Yes! it’s marked in USD on the capital you have invested. clear to understand the profit and loss without misleading APY, you will like it
Q7 from Telegram user @Crypto_84
Recently you said that you have done the audit with “CERTIK”,
Is the report ready?
Or can you tell me when will it be ready?
Kenny Denton Jr.
Like I said, Certik will put our names on the website within 48hours, that’s what we heard from Certik side today
Q8 from Telegram user @iam12312
To be frank I was not aware of the VVS Finance Platform before,
Why did you choose this platform for the my IGO Event?
Kenny Denton Jr.
As long as Cronos chain grow, the projects, including us will become more popular, thats why we chose cRO as home chain. if you look at Defi lama, you will notice the TVL of VVS is doing good and the ranking is high
Q9 from Telegram user @mercy_global
I see that there is a Startup Free offering event on Gate platform,
Can you please give more information on this offering?
Kenny Denton Jr.
Oh……just go there, stake some gate token and you can participate in this exciting game with free SINGLE. act now and open an account.
Q10 from Telegram user @boksiu
Do you consider suggestion from community ?
Kenny Denton Jr.
Of cause, we will also be holding focus group sessions in the future to understand more thoughts from the community to improve the platforms, love the feedbacks
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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