We just finished our AMA with AutoBurnYeild & our guest Mr.Stefan (Dev. Of AutoBurnYeild)
So here we will put the questions that you maybe want to know it’s answer :
Q1: Can you please introduce yourselves and your project to the community ?
Hello all and welcome to this AMA! I am a developer designing projects of various types, started with crypto in 2013 and with DeFi since November 2020. I was tired of copycat tokens and decided to create my own project that will achieve long-term gain even during bear market and low volume seasons and will have unique features. That is how AutoBurn was created in January on Ethereum chain and EABN in February on Expanse chain. Since investors focus moved mainly to BSC, and there was need to add even more features, AutoBurnYield was developed and is now in ILO (liquidity offering) phase. Like many tokens, but unlike ABN and EABN, AutoBurnYield offers frictionless yield. What brings all AutoBurn tokens to DeFi token ecosystem? It’s a fee token but with feeless wallet to wallet transfers. This means it can be used to pay your friends or sent to different wallet without losing value. Otherwise (contract interaction), all tokens have deflationary supply and remove small part off the circulation. And the most important and main feature is daily price boost.
This is achieved by interacting with liquidity pool and effectively changing ratio used to compute price of AutoBurn. The difference is removed from circulation while eth (or exp or bnb) is kept intact, thus pool value does not decrease. Holders' balances are unaffected too. AutoBurnYield in addition offers daily yield as part of this function.
Q2: Please tell us the biggest milestone you have ever achieved and also your future milestone?
The most important milestone was selling out 50 ETH ILO for AutoBurn on Ethereum (ABN) 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/400 BNB hardcap ILO for ABY, now 95% is going to liquidity. Another achievement is that ABN proven its price boost feature by keeping price more stable during increased sell pressure while EABN on Expanse chain shows more % increase than other EXP chain tokens during low volume days.
Q3: Please give us a sneak peak of your Roadmap?
Focus now is to keep all three tokens running, buildng the community behind them and bring investors benefits they were designed to. 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.
Q4: DeFi, Staking and Yield Farming are hot topics right now in our Crypto Space, My question is, did you make this project only for the short term because of these hot topics? Do you have a long term plan for this project?
Yes, there was a lot of interesting questions, hope all chosen participants qualify!
This project was made for long-term, even several years yield as described earlier. That’s why major part of liquidity was locked for 10 years for ABN and all liquidity has such long lock for ABY. Staking is possible for EABN liquidity and stakers earn EGG token. Their stake participates on daily burning so that they keep EXP value of their share and earn EGG tokens as a tradeoff for EABN part being slowly reduced
Q5: How did you come up with the idea to create this project? What existing problem are you trying to solve?
There were 3 main concerns to continue development and release AutoBurnYield on BSC: high Ethereum gas fees, low interest for Expanse and low gas fees on BSC chain. Additionally, passive frictionless yield was something people love and send such tokens to the moon easily, that's why such feature has been added. To start with reasonably big liquidity, freshly released token was put to ILO presale on DxSale.
Q6: Can you tell us all more about project, the idea, how it started?and specially why its needed?
Why it started was answered in previous question but let's recap why it is needed and what is unique about this project.
I am trying to solve following problems:
Low liquidity – by bigger volume for ILO
Price decrease – by price boost feature
Low volume – by price boost & yield generation feature being available every day and not depending on volume
Scarcity – by making token deflationary
Yield – by implementing passive frictionless yield
Payment option: by feeless p2p transfers
Expensive batch sending: by implementing cheap built-in batch send function.
Q7: How did you come up with the idea to create this project? What existing problem are you trying to solve?
Additionally I found out how Uniswap liquidity works and how rebase and liquify tokens work. That brought me to the idea of daily price boost feature.
Q8: Now the market is flooded with many projects, extreme competition. What is your plan to make your project stable and provide the highest return for investors in the long term?
Long-term sustainability is achieved by daily price boost feature. It redefines what is a sideway market. AutoBurn tokens are all designed to shift spot price by 3% once daily. This does not mean that price never drops at all on sell, but any drop is slowed down. So that bear market is if daily gain is less than 3%, sideways market is 3% daily, yes, this happens even during low volume seasons, and bull market is more than 3% daily. AutoBurn will become more scarce and more valuable over long-term.
Q9: why does your token have two networks, namely ethereum and expanse? then what about the bsc which is currently popular? how do you think
ABN started on Ethereum in time when bsc adoption was on rise but not that much like today. Now bsc trade fees are between 0.5 and 5 dollars depending on gas limit used with fixed 5 gwei. In meantime I discovered Expanse, a small fork of Ethereum with active development, strong community, and a place where no burn or fee token existed. Gas prices are 6 decimal places cheaper than eth ones. Gwei is always 1 and 1 EXP is $0.17 now with about 30M in circulation. A good candidate to repeat price skyrocketing like BNB did. Since majority of our community asked for bsc version too, development on AutoBurnYield (ABY) has begun. The token was released on Apr 10 and this time the same presale platform is used as was used for Fairmoon by WarOnRugs. That’s why the ILO is hosted on DxSale now.
I’ll post later on how to set up eth or bsc wallet for Expanse and everyone who wants to try can ask me for some free EXP. See EABN chart on Expanse DEX called eggswap: Link
Q10: Can you explain to us why Every ABN transaction except wallet-to-wallet transfers has a volume limit of 10% of the circulating supply? what is the purpose of the method?
This is part of the differences between ABN, EABN and ABY tokens. The limit on a single transaction amount was introduced to slow down dumps from whales. It will not prevent anyone to sell the entire balance but will add more gas and time costs for doing so in a very short time. This allows more time for others to trade and less sharp price movements. ABN has this limit 1%, EABN thanks to its smaller supply 10%. ABY has no such limit since the fees are very small and transaction times are almost instant.
This limit is effective to any contract interaction and is not applicable for wallet-to-wallet transfers.
Q11: “Token burn” is beneficial for any project, in being able to control the number of token circulation and to provide greater incentives to investors. Does your great project have a plan about token burn?
Token burning is the innovation this project is bringing to DeFi. It already has a plan: every contract interaction causes 3% from the transaction to be removed from circulation automatically. The second layer of burning is a way to provide price movement even during low volume seasons and to ensure increasing scarcity over time for long-term holders. That’s the daily burn feature described earlier, this feature cannot be called more often, can be called by anyone and if it is not called, repeated calling will reduce the delay so that it will not exceed the once per day average. The function is available on block explorer (bscscan, etherscan, expanscout) on Write Contract page and has name PoolBurnAndSync.
Q12: Is it possible for price to go down below presale price when presale ends or is that a ‘floor’ of sorts?
And, If I send eth to the presale address, will I receive my ABN straight away? Or wait till the sale is over?
The price can of course go lower than presale price was, which was also true for ABN for some time. That’s why presale and listing price of ABY is the same so that no arbitrage traders will come to dump ABY when presale ends.
Don’t send ETH anywhere to buy ABN, that presale already finished. Only buy from Uniswap. To participate in ABY ILO only use interaction from DxSale website, have your wallet connected to bsc and unlocked so that web3 interface is able to read data from the blockchain. Use this page to buy tokens and to collect them once presale ends: presale Link
Q13: You mention that you will provide 2% instant rewards, will that be for all $ holders? Or will it only be the ones with a stake? If so, how much is the minimum allowed to stake $?
More information about passive yield. This is feature of ABY only, not ABN or EABN. ABY removes 6% from any contract interaction including buy or sell, and uses 2% for burn, 2% for add to liquidity and 2% to divide proportionally to other ABY holders.
Q14: Many investors hit and run in the sell and sell session after listing on the first exchange, How did Your project prevent early investors from selling their tokens and what benefits you would give them?
This is real story of ABN, it was slowly dumped on Uniswap after presale despite having identical listing price, the dump was slow but long-term. This tested the price boost feature: presale price was $1.9 (1 ETH = 1000 ABN) and now price is $2.7 (1 ETH = 894 ABN). But if you look to buy and sell volume you find out that there were many more sells than buys. Now only long-term holders remained and ABN is on its way up. EABN didn’t had this issue and went straight up from $1 to $6. ABY is expected to rise slower than PnD tokens but keep the gain for longer time.