Recap of the 5table Finance AMA with Blockchain Space
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On Wednesday, February 16th, we had the pleasure to welcome to our Telegram chat:
Philip, The head of business development at 5table Finance.
We asked him questions about the development of 5table Finance.
INTRODUCTION
Q~ Thanks for joining us today, could you introduce yourself to our community firstly ?
A~ I’m Philip, head of business development of 5table Finance. I’m a crypto investor since early 2018 and have been working in different roles in the industry since early 2019. I’ve participated in other successful DeFi projects and have built a lot of valuable resources that will be very helpful for 5table Finance ecosystem.
Q~ Tell us about 5table Finance as a project and the team that is behind it ?
A~ 5table Finance is an advanced multichain, decentralized protocol that allows users to find the best investment opportunities for their stablecoins (BUSD, USDT, USDC, DAI & UST), obtaining the best profitability that the market can offer, in a safe and sustainable platform.
Basically, users will be able to stake any stablecoin (single token, no need to create any LP), and earn the highest profits in the market in the same stablecoin they choose, with our auto-compounding vault.
Regarding our team, we are a team of 9 members, including devs with solidity experts, an engineer with a Master in Finance that’s in charge of tokenomics architecture and DeFi research, one graphic designer (very talented), and the rest on marketing and business development.
We have plans to expand the team as we grow over time. The first 3 candidates are already selected for when the time comes.
Q~ Can you give us a rundown on the $5table tokenomics and it’s usecases ?
A~ Great question, I think that everyone will be interested in that one. We have pretty great tokenomics.
The $5TABLE token has a max supply that is achieved in the presale. That means that no more $5TABLE tokens will be minted after launch.
We have a 4.5% performance fee on the main stablecoins vault. And it all goes to automatic buyback $5TABLE, providing steady buy pressure. Also, almost all those profits are distributed among the holders on the $5TABLE Pool in form of $5TABLE rewards.
So basically, there are no $5TABLE emissions, and all the profits of the protocol go to the holders. The more the TVL grows, the more profits are distributed among the holders, and therefore more price growth.
Pretty amazing, right? Our users on Fantom are loving that.
Q~ Can you share a bit about your upcoming plans and goals for 5table Finance ?
A~ We are looking to increase our visibility as much as possible and achieve massive adoption. We are deploying one of the biggest marketing campaigns ever seen and getting the biggest partnerships on the whole network. We are already on board with BabySwap and ApeSwap, and many more successful projects that will be announced this week.
We already successfully launched on Fantom, and we are having our presale for our BSC expansion on Feb 20th, 23.00 UTC. Remember that there is 2–10% discount buying $5TABLE at presale.
QUESTIONS FROM BITCOINTALK
Q~ BUSD, USDT, USDC, DAI & UST are the only stable coins available on 5table, we have quite a lot more stablecoins, do you plan to add other options in the future and even consider the possibility of adding non stables ?
A~ Those 5 stablecoin combined get more than 93% of the stablecoin volume on the whole chain, so we don’t have plans of adding any other stablecoins in the future.
There is a possibility of adding non-stables in the future, but that’s for the long-term roadmap. For now, we have a long way and a lot of space to grow in the stablecoin business, with more than 1 billion TVL on stablecoins waiting for an opportunity like 5table Finance.
Our closest competitor is currently offering half the APY that we will provide. And we have a simpler and safer platform.
Massive achievement of 5table Finance is imminent.
Q~ I see that one of features of 5table is the “5table Risk Balancer”. Could you please discuss and explain to us what is this feature all about? How does this feature help and benefits the users of your platform and services ?
A~ The risk balancer is about measuring the weight between profitability (APR) and security of the selected farms we use for the strategy of our main stablecoin vault.
The way this vault work is by turning the stablecoin single token into multiple stablecoin LPs and staking them across different farms. The risk balancer takes into account the security standards of the protocol & the farm itself and the APR of that farm and gives a score that can or can’t make it into the strategy.
It helps because it allows us to provide the highest APY in the whole chain at the same time we keep our security standards at the highest level.
QUESTIONS FROM TWITTER
Q~ It is cleared that there are a lot of risks in centralization system, what are your plans to eliminate risks in your project? With the set up of DAO-related, what should we be expecting from it ?
A~ There are not more centralizations risks on 5table Finance since yesterday when we deployed our new governance features (DAO-related). The holders can now decide whether a farm is included or not in the strategy of the main stablecoins vault, and how to reallocate funds within the existing farms.
Xiaolin : Can’t wait to start voting
Philip : Next vote on Fantom is tomorrow, on BSC it will be shortly after the launch.
Q~ I read that they can be connected to your platform only with metamask. That is a limitation. Why don’t they allow you to do it with other applications? example, trustwallet, atomic, coinomi, etc ?
A~ We are working on it, so we can provide multiple wallet options for our users. Now MetaMask is the most used and we haven’t heard any complaints or requirements about that, so we are not in a rush about that.
But nevertheless, we will definitely work on that in the short-term.
Q~ What’s the purpose of the presale holding on the 20th of this month, I see we can already get 5TABLE tokens on quite a number of exchanges like SpookySwap, DefySwap, etc. Will the investors be getting it cheaper at the presale ?
A~ Those $5TABLE tokens only work for our Fantom protocol. In BSC we will have a different token with a different price, that will have uses cases only on the Binance Smart Chain.
Everyone will be able to buy $5TABLE with 2–10% discount at presale on the 20th, 23.00 UTC. The presale will take place at DeFi Launch platform
It’s a great opportunity to jump early on one of the most promising projects of the whole year. 📈
QUESTIONS FROM TELEGRAM
Q~ Do you have a audit certificates or are you working to audit your project, so that the security of the project becomes more secure and reliable?
A~ Yes!
And unlike most of the projects we haven’t audited only one contract, but all the contracts involved in the protocol. A total of 12 smart contracts. 💯
Here it is for everyone to check it out.
Updated after we deployed the governance feature and solve the last pending issue.
Q~ Can you share your social media links so we can keep ourselves updated?
A~
Q~ How can I join the pre-sale or IDO? And what is estimated date, when and where can I buy your Tokens?
A~ You will only need BUSD to participate at the presale 😉
The date is Feb 20th, 23.00 UTC.
The place is bsc.defilaunch.finance
And don’t forget that there is 2–10% discount buying at presale. 💸
Q~ Is this your project only for elite investors, how about others with small funds, is it open to everyone?
A~ Everyone can participate at 5table Finance, no matter if they have a few or a lot of stablecoins. And everyone can buy $5TABLE at presale, there is no min and no max buy.
And the platform is really easy to use, for both beginners and advanced users.
That’s our approach to achieve massive adoption.
Q~ Can you list 1–3 killer features of your project that makes it ahead of its competitors? What is the competitive advantage your project has that you feel most confident about?
A~
- More than double the APY of our closest competitor.
- Limited supply - No more tokens minted after the presale.
- Fully audited - Not only one smart contract but all of them (12 smart contracts)
Bonus: We distribute all the profits of the protocol among the $5TABLE token holders.
CONCLUSION
I’ll drop some spoilers about our upcoming partnerships only;
We have BabySwap 👶 and ApeSwap 🐵 already on board, KnightSwap also confirmed.
BiSwap really close. And starting conversations with MDEX.
The biggest projects are with 5table Finance.
Thank you very much for having me here today, it’s been a wonderful AMA session.
It’s really nice having the 5table Finance project in here!!!
You can check out their Website for more details. You can also follow them on Telegram and Twitter to keep up to date with all things relating to 5table Finance.
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