AMA Recap Cryptoscreen with AutoBurnYield

On 17 May 2021, AutoBurnYield conducted an AMA in the Cryptoscreen Community. Our guest is Stefan of AutoBurnYield. 

Lots of questions as usual from the Community about AutoBurnYield progress. The AutoBurnYield team took part in a very interesting AMA session which included introductions, questions from twitter, and a live AMA session with the Cryptoscreen community. If you missed the AMA in person, read this recap for a deeper insight into AutoBurnYield.

Let’s take a look at the most interesting points of our conversation.

INTRODUCTION

Inol Granero :
Can you tell the members a little about AutoBurnYield?

Stefan :
The main problem of majority of new tokens is long-term sustainability of trade volume and price movement. So, the goal is to achieve long-term gain even during bear market and low volume seasons. That is why AutoBurn was created in January on Ethereum chain and EABN on Expanse chain. Since focus moved mainly to BSC, and there was need to add even more features, AutoBurnYield was released and is now in ILO (liquidity offering) phase. Like many tokens, but unlike ABN and EABN, AutoBurnYield offers frictionless yield. Other problems to solve was fee tokens and frictionless tokens having fee even on p2p transfers. So AutoBurn is a fee token but with feeless wallet to wallet transfers. This means it can be used to pay your friends. Otherwise, all AutoBurn tokens have deflationary supply and remove small part off the circulation on every contract interaction and every day. And the most important and main feature is 3% daily price boost.

Inol Granero :
Can you explain how AutoBurnYield and what kind of services it offers to users?

Stefan :
Everyone curious so let’s explain the daily price boost! It is achieved by interacting with liquidity pool and effectively changing ratio used to compute price of AutoBurn. Instead of buyback and burn, the same is achieved without spending funds for price increase. 3% of token balance of liquidity pool contract is burnt (case of ABN and EABN) or 1% burnt and 2% redistributed to holders (case of ABY), both resulting in a one-time 3% shift of spot price. No matter of volume. This of course does not mean that price won’t decrease on selling, but in average this happens slower. This is the token that will survive bear market and cryptowinter and will succeed long-term.

Inol Granero :
What products does AutoBurnYield have and in the future, will you add more products?

Stefan :
Beside launch of bsc version, AutoBurnYield is planning to bring a real life product to the brand. Currently the most successful product is custom Solidity development paid with AutoBurn tokens, with Official Token as an example.
Focus now is to keep all three tokens running and bring investors benefits the tokens were designed for, simple profit model without plenty of confusing additions.

Inol Granero :
How do you solve liquidity issues and how to ensure user asset security?

Stefan :
Almost all ABN on eth chain liquidity came from a kind of liquidity offering: buyers paid into already locked liquidity and got tokens. DxSale ILO does the same task with ABY but buyers get tokens at the end of the presale. Is the liquidity secure? 95% of Uniswap ABN-ETH liquidity is locked for years at team.finance, main 75% lock until 2031. ABN-MCDC pool is locked for 6 months.
ABY liquidity is locked all for 10 years. 95% of BNB raised in the ILO will come to liquidity.
EABN liquidity is partially burnt forever and partially staked in eggswap farm by the community.
And, most important and already time-proven, is the price boost effect over long-term. EABN chart is quite bullish but no significant dump while ABN chart is sideways market, resisting increased selling pressure.
ABN and EABN contracts don’t have owner functions usually making a contract susceptible for owner manipulations, and an audit is planned once funds raised from ILO.

Inol Granero :
Have you met all your goals in the roadmap till now? And were there any difficulties that you didn’t expect and were not prepared for?

Stefan :
The first important milestone was selling out 50 ETH ILO for ABN (eth chain version) and show investors that ABN is worth their money. All funds went directly to liquidity. Thus, the future milestone is selling out the 200 BNB softcap and 400 BNB hardcap ILO for ABY, now 95% is going to liquidity. Hurry, there are less than 14 days left to participate! Link to the presale can be found in our group or Twitter. Also, ABN proven its price boost feature by keeping price more stable during increased sell pressure while EABN shows more % increase than other EXP chain tokens during low volume days.
One of challenges is keeping the liquidity big, that’s why popular DxSale platform was chosen for the ILO. To encourage buying ABN and EABN during ABY presale an airdrop is being prepared for those holding ABN or EABN at the end of ABY ILO. Even in case ABY ILO doesn’t reach softcap, v1 buyers will get their bnb back (guaranteed by dxsale) and will get free ABY v2 tokens of the same value as a gift for their participation. You virtually can’t lose by buying from ABY presale now!

One more issue was eth gas prices.
Self-yield tokens like Vaultz, all SafeSomething clones of Vaultz including Fairmoon that are running on bsc (Vaultz on eth), use the same mechanism to achieve the same feature: liquidity inflation through Uniswap contracts interface. Those tokens do the following on every transaction:
Take a fee from the transaction, divide into 2 parts
Sell one half for eth
Add liquidity that eth plus the other half
Mint LP tokens and give it to burn address.
Total gas limit: 800k.
AutoBurn (ABN and EABN) uses 200k limit for the same results only by injecting the liquidity to the pool directly by internal balance adjustments and one external call to LP sync function to reflect new price. ABY uses the old method due to the fact the gas is still quite cheap and to keep frictionless yield feature unchanged.

QUESTION FROM TWITTER

Inol Granero :
Q1. What is the ultimate vision that Your project is trying to achieve within the cryptocurrencies market? Obviously the whole space will experience huge growth in the upcoming years, but what role would you like AutoBurn project play in this?

Stefan :
The vision is very easy in case of AutoBurn tokens. Investors who hold long enough can benefit from deflationary supply and increasing token balance. With the price boost done every day, likeliness of selling higher than bought is significantly increased. With 6% fee and 3% daily price boost, even if no other price movement occurs, 4 days are enough to cover buy and sell fee. But the goal is to hold for months or years and sell at much higher price. In near future AutoBurn may release tokens in another popular EVM compatible chains, depending on community demand.

Inol Granero :
Q2. Can you tell us the motivation and benefits for investors to keep the token long-term? Do you have a plan to help boost token demand and scarcity?

Stefan :
Yes! Token scarcity increases every day and on every trade with burning. The daily burn is the way to overcome bear market and low volume seasons. As explained just before, the longer you hold any of AutoBurn tokens, the higher is your % of total supply and overall likeliness to sell it later with profit.
Done

Inol Granero :
Q3. How do you keep your platform safe for Investors and is your platform guaranteed to be protected from hackers AND
what makes investors, customers, and user feel safe when working with AutoBurnToken?

Stefan :
As mentioned earlier, tokens have liquidity locked for years. The project is running for months with years planned. The contract is safe so far as explained before, but full audit will be done once ABY ILO raises funds. The project is open for virtually any size of investment, smaller ones can be done on Expanse.tech chain where fees are much smaller compared to even bsc chain.
Done

Inol Granero :
Q4. What is the role of tokens in the ecosystem? Where can people currently buy it? What is the functions of the tokens?

Stefan :
Tokens can be bought on 3 places depending on chain you prefer.
ABN on Ethereum can be bought on Uniswap. Contract address for each chain is on the footer of the website.
EABN on Expanse can be bought on Eggswap (www.eggs.cool).
ABY on BSC can now be bough on dxsale only, the link will be provided at the end of the AMA. Don’t buy from pancakeswap yet, it’s not the true AutoBurnYield token.

Inol Granero :
Q5. In how many ways or what are the ways your project generate revenue? What is the revenue model? How it can be beneficial for both investors and for project itself?

Stefan :
Let’s recap the whole ecosystem: AutoBurn tokens ABN, EABN, ABY are deflationary tokens on different chains designed to passively reward holders by their proportion of supply growing over time. Daily burn feature which moves spot price up by 3% once daily regardless of volume traded. AutoBurn tokens take 6% fee on transactions where 3% is burnt and 3% is added to their liquidity pool in case of ABN and EABN while 2% is burnt, 2% is added to the liquidity and 2% redistributed to holders in case of AutoBurnYield (ABY).
The revenue then is generated by increasing scarcity and in case of ABY token balance too.
Liquidity farming is available for EABN in eggswap farms only.
Done

LIVE/ FREE QUESTION

Q1. Which area does focus on at the moment? (DeFi, Nft, Dapps, Stake, Yield Farming..)

Stefan :

The main area is DeFi and yield. The token primary purpose is to generate profit for long term holders. The utility behind this token so far is paying for certain type of services, for example contract development.

Q2. What makes you feel confident about the survival & sustainable success of Your project in the near future?While you build your project, do you take into account community feedbacks and demands?

Stefan :

The aspects to keep the project long-term running and survive different markets is

– AutoBurn is running on 3 chains with different communities and gas costs. Any type of investor can find a suitable chain and amount for investing.

– Community feedback is appreciated. In case ABY v1 won’t raise funds, v2 will have several changes based on community feedback, for example yield in bnb instead of tokens.

– The nature of this token makes it durable during low volume seasons coming mainly in one of next years.

Q3. Your project have a very much high amount of hardcap compare to the other projects. what happens if hardcap remains to fail to reach it?

Stefan :

We are aware of it and are preparing a backup solution. The v2 token and presale will have the following differences
Presale
Duration: 24 hours, but announced long in advance
Softcap: 20 BNB, hardcap similar to current depending on how big airdrop to v1 buyers
Price: Listing price higher by 30-60% to attract speculators who will at least provide necessary bnb for liquidity
80% instead of 95% going to liquidity, 20% to cover previous and future AMA and other marketing costs
Token
Pancakeswap v2 liquidity
Function to rescue or burn unsold tokens
Ability to rescue any tokens sent to the contract by mistake, not just bnb
Poll announced with bnb option winning now: yield tokens or directly BNB with v2.
Airdrop
Everyone is encouraged to buy v1 because if it does not succeed every buyer will get free v2 token of the same value (and the bnb back from dxsale of course).

Q4. Do you have a Token Burning plan to increase Token value and attract Investors to invest?

Stefan :

There is no manual token burning plan, automatic burn already removed 70% of initial supply for both ABN on eth and EABN on exp chains over last 3 months. ABY is planned to burn slower and give more yield instead.

Q5. Many projects rug pulled and exit scam recently. Why should investors trust AutoBurn not to do the same?

Stefan :

This is very important part of the project. The token was designed to be as trustless as possible. Beside liquidity locked for years and owner functions removed from the contract, the only remaining threats are dev abandoning or smart contract vulnerability. Mint function is not public and has check to be called only once. No more tokens in circulation, only less. And the intention to exit scam at this point, after more than 3 months of putting funds in promotion, AMAs and airdrops isn’t smart idea. I really want AutoBurn tokens be famous by being the only low-cap to survive over extended period of time. So it won’t be a lowcap anymore.

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