AMA RECAP:CRYPTOCLUB x JETFUEL FINANCE
Venue : @CryptoMalluclub
Date : 26th July 2021
Time : 02:00 PM UTC
Guest : Chuck Yeager
AHAMMADALI | Cryptomallu Club
👋Hello Chat , Welcome to a special AMA session with ‘’JETFUEL FINANCE ‘’ 😍😍
I am Ahammadali from the Cryptomallu Club and your host for this AMA session.
Let us give a warm virtual welcome to our guest, Chuck Yeager👏👏👏
CHUCK YEAGER | Jetfuel Finance
Hey everyone! Glad to be here to share a bit about our project!
AHAMMADALI | Cryptomallu Club
Before we start our first segment, can you please introduce breifly yourself to our community?
CHUCK YEAGER | Jetfuel Finance
I’m Chuck Yeager. I joined Jetfuel Finance about 4 months ago as their Director of Marketing! It’s been a great journey so far! A LOT has happened in that short amount of time.
I’ve been in the crypto space since 2013, which comes with a LOT of stories of regret and hindsight 😂😭
SEGMENT 1 — INTRODUCTION SEGMENT
AHAMMADALI | Cryptomallu Club
Q1) Can you briefly describe what is JETFUEL FINANCE ? We would like to know more about it and how it works ?
CHUCK YEAGER | Jetfuel Finance
Jetfuel has a very expansive ecosystem, so please bear with me.
Jetfuel Finance is an all-in-one defi ecosystem that consists of auto-compounding vaults, a lending and money market protocol, and a dual chain Dex AMM on BSC and Polygon. We are the ONLY all in one ecosystem to incorporate all of DEFIs most popular features.
Our ecosystem includes a number of tokens, each with it’s own unique feature. Here are our links, to get started:
BSC AMM & Auto Compounding Vaults: Jetswap.Finance
Polygon AMM & Autocompounding Vaults: polygon.jetswap.finance
Lending & Money Market: Fortress.loans
Telegram: https://t.me/jetfuelfinance
Twitter:https://twitter.com/Jetfuelfinance
Reddit: http://reddit.com/r/jetfuelfinance
Discord: https://discord.gg/pMjfrrSCb2FUEL: FUEL is the first token in the Jetfuel Ecosystem that launched on Dec 6 2020. It has a 2% tax on transactions. 1% is burned forever and 1% is allocated for JETS staking rewards. FUEL farming lasted 6 months and ended in June so FUEL is 100% deflationary!
JETS- JETS is the staking and income token for Jetfuel. JETS can not be bought and must be converted from FUEL to JETS. JETS earns income from the 1% FUEL transfer tax, 4% of every vault harvest from the Jetfuel auto compounding vaults, dedicated staking pools to earn other tokens, and soon net income from our lending protocol Fortress & AMM Jetswap. JETS holders are earning millions per year in PASSIVE income.
I always like to say, “it’s all about the JETS, baby” 😎
FTS- FTS is the governance and reward token for fortress.loans, our lending and money market protocol. Users can lend up to 12 BEP20 assets and earn interest + FTS rewards. Users can collateralize their supplied assets and borrow against them up to 60% and get PAID TO BORROW!
If you visit fortress.loans you’ll see APY’s for Supplying and Borrowing. The borrow APY’s aren’t what you have to pay. They’re WHAT YOU GET PAID 😳
DeFi is wild, man.
Our CEO Miro just finalized a massive collaboration with Chainlink to secure the price feeds for Fortress. We’ll be embarking on a BIG co-marketing campaign to promote the synergy in the coming weeks.
Ok, next up (I’m almost done lol): GFORCE & PFORCE
GFORCE is based on the Binance Smart Chain, while PFORCE is on Polygon. These are our passive yield and auto liquidity tokens.
3% of every transaction is passively redistributed to holders and liquidity providers through dual balancing tables. That means hold or supply Liquidity with and earn more! You can earn TRIPLE REWARDS. 1. Income from passive yield. 2. Swap Fee income with an LP. 3. Reward income from our high APR farms for GFORCE & PFORCE ONLY at Jetswap.
WINGS & pWINGS: Jetswap is our Dual Chain native DEX AMM which means decentralized Automated Market Maker. Jetswap launched first on BSC and then on Polygon a few weeks ago. The native reward token for BSC is WINGS and the Polygon native reward token is pWINGS. WINGS and pWINGS are the governance tokens for each
AHAMMADALI | Cryptomallu Club
Q2) What are your main features that distinguish you from other projects and what competitive advantages do you have?
CHUCK YEAGER | Jetfuel Finance
Most importantly, we are the ONLY all in 1 defi ecosystem!
We have a token that allows you to do anything you want in DEFI in a trusted, safe environment from a proven & professional team. Our team takes a security first approach to our development. What that means is that we have our coded audited and tested first, before we deploy to the public. Our strict security controls have allowed us to grow into one of the largest defi ecosystems! We are proud of 0 security incidents and 0 exploits. You can feel safu with Jetfuel.
AHAMMADALI | Cryptomallu Club
Q3) Can you speak a few things on the tokenomics and tokensales details of your project?
CHUCK YEAGER | Jetfuel Finance
We have a large and robust ecosystem and this answer would go on for a LONG time so we can keep this short and sweet.
FUEL is a fully emitted deflationary token with heavy burns and you can convert it to a revenue generating staking token called JETS.
FTS was launched on april 20th with a $2m IJO on Jetfuel.Finance. There are 10 million FTS tokens total and will be fully released 2.5 years after april 20th.
GFORCE & PFORCE are a 1m hard cap token with 3% passive yield and 3% auto liquidity built in.
WINGS & pWINGS is the liquidity incentive token for Jetswap on BSC & Polygon. They are separate tokens and both share the same tokenomics. There are 2 wings/pWINGS emitted per block to farms/pools. 0.2 per block to the treasury for marketing/burns and 0.2 per block for auto compounding vaults boost. We also burn 0.1 wings per block so there’s always burns.
Deflationary aspects
Dev big burns
Built in burns
Lottery pot burns 20%
Buy NFTs and some wings are burned (soon)
Minigames burn wingsOk, so I touched on some of this in an earlier answer above, but here we go:
1. FUEL is a deflationary token with 2% tax on transaction. 1% is burned forever and 1% is sent for staking. FUEL had 6 months of farming that started Dec 6th 2020 and ended June 5th 2021.
2. JETS is the income and staking token for Jetfuel. The only way to obtain JETS is to convert FUEL to JETS at Jetfuel.Finance. JETS holders earn up to 5 income steams by holding and staking JETS. There is a 2.5% withdraw fee to convert from JETS to FUEL to ensure long term holding.
3. GFORCE is our passive yield and automatic liquidity token. There is 1,000,000 GFCE. 3% of every transaction is taxed and distributed to every GFCE holder. 3% of each transaction is taxed and is added back to liquidity at Jetswap. We are nearly done with our GFCE lottery where you can earn GFCE LP tokens!
4. FTS is Fortress. Fortress is our lending and money market protocol. You earn FTS rewards by supplying and borrowing against your deposits. FTS has 10,000,000 tokens and a 2.5 year farming schedule.
You earn FTS as well as more supplied/borrowed collateral rewards by supplying and borrowing against your deposits basically the change is your BTC or BNB or whatever supplied asset it is, grows too, in addition to the FTS rewards
5. WINGS is our AMM token for Jetswap. It is an inflationary token and is used to incentivize liquidity at Jetswap. We have a number of exciting features coming up for WINGS like the WINGS lottery, voting, and NFTS 👀
AHAMMADALI | Cryptomallu Club
Q4) Partnership are important part of a project . Can you breifly describe about your partnership with different projects?
CHUCK YEAGER | Jetfuel Finance
Absolutely! We just launched a $WINGS airdrop campaign in partnership with CoinMarketCap you can find here: https://coinmarketcap.com/currencies/jetswap-finance/airdrop/ Over 72,000 people have already participated!
We’re excited about this getting our platform in front of a LOT more eyes.
We’re starting to hit our partnerships HEAVY. With that comes a LOT of cross-promotion. We actually just onboarded someone to the Jetfuel Team whose sole role will be developing partnerships! We’ve very excited about that 🙂
We also have launched our $1m Jetswap incentive program! This is to recruit premium projects to jetswap and we can assist with their liquidity, development, and community growth. Learn more here: https://jetfuelfinance.medium.com/introducing-the-jetswap-1m-incentive-program-8dad765d5d0d
AHAMMADALI | Cryptomallu Club
Q5) Can you mention he future plans for Jetfuel Finance and can you share us the roadmap for comming quaters…??
CHUCK YEAGER | Jetfuel Finance
We have an exciting partnership with Chainlink coming VERY soon. We plan to launch Fortress on Polygon, and are in the process of developing our NFT platform on JetSwap!
We’re working on an idea (and unfortunately, I can’t share any details) a twist on our whole ecosystem that would CHANGE THE GAME. I haven’t been this excited about anything in crypto in a long time. Sorry to be a tease 😬
SEGMENT 2 — TWITTER SECTION
AHAMMADALI | Cryptomallu Club
Q1) From @crypto_hunder_
According to what I learned, Jetswap has the LOWEST TRADING FEES on Polygon. So what percentage of transaction fee on Jetswap? Besides this, how are revenue being generated for the project itself that could be used on future development?
CHUCK YEAGER | Jetfuel Finance
0.1% per trade! The lowest possible swap fees on polygon. 0.05% goes to lp and 0.05% goes to the treasury to fund operations
AHAMMADALI | Cryptomallu Club
Q2) From @NjPmwf5
When doing some research, I found that Jetfuel’s launched its Lottery for users to try their luck, however, as there’s little information about it, can you tell me how this Lottery will contribute to Jetfuel’s further growth and development? Will this Lottery allocate tickets?
CHUCK YEAGER | Jetfuel Finance
Our lotteries are secured by Chainlinks VRF technology: https://docs.chain.link/docs/chainlink-vrf/
We adopted VRF after the numerous issues found with other lottery where users were able to guess the winning numbers and win the pot over and over again! No bueno.
This allows our game to be verifiably fair. 20% of each pot gets burned! 50% prize to the winner
AHAMMADALI | Cryptomallu Club
Q3) From @Puja0211
JETSWAP currently resides in the Polygon and bsc network. But, do you have plans to expand to other networks like Solana, Polkadot, etc? The integration of a bridge in different chains is very useful for investors and their assets in terms of cost reduction in rates?
CHUCK YEAGER | Jetfuel Finance
We’re working on an idea (and unfortunately, I can’t share any details) a twist on our whole ecosystem that would CHANGE THE GAME. I haven’t been this excited about anything in crypto in a long time. Sorry to be a tease 😬
AHAMMADALI | Cryptomallu Club
Q4) From @Blazer87542430
It is unfortunate that some projects remain half way because their developers abandon the concept because they cannot achieve the desired capitalization in the long term; how do you plan to make this project sustainable for its development?
CHUCK YEAGER | Jetfuel Finance
We started developing in Sept 2020 and launched on Dec 6th 2020! We are developing new features and partnerships every week! All of our products and features help to generate revenue for the ecosystem to continue our long term goals and development.
AHAMMADALI | Cryptomallu Club
Q5) From @SherwinMathewT1
Many Yield farms are just clones of existing ones, how do will you convince us of your genuineness and how do you ensure enough security, are your smart contracts has been audited?
CHUCK YEAGER | Jetfuel Finance
Security is absolutely our NUMBER ONE priority. Because of this, we’ve actually had multiple audits!
You can find many of theme here: https://jetfuel.finance/audits
We also got a great review from RugDoc, classifying JetSwap as Low Risk
SEGMENT 3 — LIVE Q & A
Q1. FROM @Dmarya22
Do you have any plans to add Nft’s to your ecosystem as this is the hottest topic in crypto space?
CHUCK YEAGER | Jetfuel Finance
Absolutely! We’ll be adding an NFT platform to JetSwap soon! Stay tuned 👀
Q2. FROM @Shmama2
How much wilder is crypto marketing compared to traditional marketing?
CHUCK YEAGER | Jetfuel Finance
1000000000% WILDER. It’s insane. For one, you’re marketing to about the widest demographic imaginable. People from all over the world. Targeting both millionaires and people struggling to survive in countrys suffering of hyperinflation. DeFi is the future, and benefits people from every demographic.
Q3. FROM @AnimeshBidua
✅✅✅✅✅✅
How I can buy your tokens??And how to invest in your projects??
😊😊😊😊😊😊✅✅✅✅✅✅
How I can buy your tokens??And how to invest in your projects??
😊😊😊😊😊😊
CHUCK YEAGER | Jetfuel Finance
You can buy all of our tokens on jetswap.finance & polygon.jetswap.finance! Except for $JETS!
JETS is only available by staking.
Q4. FROM @abinjoseph121
Each project has interesting stories before it is created. So can you tell people about the story that gave you the motivation to build and develop a great project like yours?
CHUCK YEAGER | Jetfuel Finance
I can speak for Miro here. He was invested in a project that rugged him, and everyone else that was invested VERY bad.
He was fed up with the number of projects rugging, and made it his mission to create a trustworthy, security focused project that actually delivers on it’s promises.
Now, here we are 🙂
Q5. FROM @luckyboy0305
Southeast Asia is a very vibrant market and many project developed here so with your project what do you think about Southeast Asia and do you have any plan to develop here??
CHUCK YEAGER | Jetfuel Finance
We love that market! We actually partner with a marketing firm that specializes in reaching the Asian market. We’re very excited to continue to grow and expand in that market!
-AMA CONCLUDED-
Follow JETFUEL FINANCE here for more updates;
Telegram : https://t.me/jetfuelfinance
Twitter : :https://twitter.com/Jetfuelfinance
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