AMA Recap GreatDrop with BIRD MONEY
Hello GreatDrop community,
Today we just finished hosting our 12th AMA with BIRD MONEY on 21st November, at 12:00 PM UTC (19:00 WIB), with our guest from BIRD MONEY:
- Simba, BIRD MONEY Team
Many of you might have participated or many of not, So here we are up with the AMA transcript for those who missed the AMA session.
Introduction Questions Asked By GreatDrop Team
Q1 : Can you please introduce yourselves and tell us about your project to our community?
BIRD MONEY is an open and inclusive monetary ecosystem built on the Ethereum protocol. BIRD MONEY aims to create an Off-Chain Oracle Data analytics platform for the Ethereum blockchain, connecting outside organizations, and investors to the DeFi market with low risk. We aim to launch several components to achieve this namely, Bird Non-Custodial Loans, Bird Analytics, and Bird Farm.
Lack of trust with transacting partners is a big issue for both investors looking in from the outside and even trading partners within the DeFi ecosystem. We aim to solve this by being the goto sector for verifying any ETH blockchain address, or account.
We aim to be the Experian of the DeFi industry so to speak.
Q2 : What kind of achievement your project has made so far and what target your project want to achieve in the next year?
When looking at the BIRD MONEY roadmap, lots of great updates have been released and more are coming in near future.
We just recently released two working products and are on track to release more, check:
All our roadmap milestones are important to us and the community, but if I am to narrows it down to the key few:
- Launching the $BIRD Off-Chain Oracle platform
- Release $BIRD Yield Farming
- Integrating $BIRD Loans with Compound, AAVE, and Oracle Analytics guarantee
- Cross-chain collateral on Bird Loans
Please read more here:
Q3 : At the moment, what is BIRD MONEY focusing on?
We are currently hard at work to release most of the features mentioned above by the END of this year. You can find ongoing development work here on our GitHub, some of the repo is private but will be made public as soon they are done being audited. Read more about the roadmap here:
Q4 : How do we participate in BIRD MONEY Pre-sale? how much is minimum amount for joining the Pre-sale?
You can buy BIRD MONEY from Monday 23rd, visit the BIRD MONEY website and follow our official channel for announcements on how to participate in the next round.
The min is 0.1 ETH and the max is 5 ETH for each Round
There will be 2 more rounds of sales starting from the 23rd, with a 37% discount in Round 2.
Q5: Could your share us about your overview of the tokenomics?
We decided to give our tokenomics an in-depth look, providing our community and potential $BIRD owners with all the nuances so that nothing is left untouched. Below, you’ll read more about the approach to how $BIRD will be utilized and the benefits of owning $BIRD.
40%: $BIRD Public & Private Sale
20%: Liquidity allocation for yield farming
20%: Bird.Money Ecosystem Development
10%: Partners share of $Bird
10%: Marketing
Extra question from our Host
BTW, if we participate in the pre-sale, do we need KYC?
No, you do not need any KYC to participate
Unless the laws from your region prevent you from doing that, for example, the United States.
Questions asked on Twitter for BIRD MONEY team
Q1 from @mylhe
Can you explain more about the Oracle Analytics of Bird money? What is the role of this oracle in your ecosystem? Thank you
There are layers of security with collateralized debt position CDP, we cover the cost of default with collateral by the user. The caveat there is good payment activities will reduce the amount of collateral the user will require to borrow.
And the Oracle analytics will be used to update the CDP in real-time using off-chain oracles from the BIRD. Currently, MakerDAO CDP requires the user to pay back the full amount before the collaterals are released which is around 60% from the last time I checked
We also aim to reduce the collateral required by using Bird+ systems
Simply put,
Bird + Amount to borrow + Transaction History / Amount to lock up
Read more about it here:
And here:
Q2 from @Mary47229678
I have read on your website that your technology is designed to be tamper-proof, What are the negative consequences that BIRD MONEY wants to avoid in relation to tampering?
We aim to integrate the community by giving them an opportunity to control the governance of BIRD MONEY.
The investors and community will have total control of $Bird by March or early next year as stated in our roadmap:
We will be realizing the $BIRD governance mechanism with the handover of the master keys to the governing board.
Q3 from @Williano_123
BIRD MONEY wants to provide high quality and cost-effective services, based on community participation, so what strategies are you using to create and connect with a community that is truly interested in your project?
We believe very much in what is building hence there will be no tempering. The external partnerships we have and will bring on board should give all our investors and community a strong guarantee.
We have had several rounds of Auditing for all our smart contracts and our source codes, One of our team members is a DIGITAL FORENSICS Engineer so we carry our different types of penetration tests on our source codes and smart contracts even after auditing.
Q4 from @KathDM3
I read on your website that after the $BIRD sales, only customers with $BIRD tokens will have access to the premium services. What are those premium services you mention?
Some of the features available include ETH account analytics POST and GET endpoints. Other features such as account blacklist, Oracle integration with a google search, on-chain and off-chain equity measurement, on-chain and off-chain assets measurement will be released in the next coming weeks.
Initial features of the API would all be free to organizations, developers, and the whole community. After the $BIRD sales, only customers with $BIRD token will have access to the premium services such as Smart Contract Analytics.
Q5 from @Vn69676675
The oracle problem is one of the major challenges imposing the success of DeFi, as decentralized oracles mitigate the risks of a central point of failure. Chainlink is the absolute LEADER of this market. So, What are the competitive advantages between BIRD Oracle and ChainLink?
One of the reasons I believe DeFi is having such a hard time is the lack of information about the customer or entities behind the use of these services. BIRD MONEY analytics expertise aims to treat DeFI customer address as a form of ID, that can be used to give both external and internal investors peace of mind on who they are transacting with, what is that person's track record and if they can trust them or not.
What we at BIRD are planning to do is build more on this, make ETH address even more powerful by feeding information about past transaction history, BIRD rating, https://app.bird.money/ to smart contracts all over the ecosystem. We want to be the goto place for all blockchain systems to know how trustworthy is an ETH address.
Also, have a look AT the demo app here on the Analytics:
https://twitter.com/_birdmoney/status/1323024155013455873?s=20
Questions asked by our GreatDrop community members during live Session to BIRD MONEY team
Q1 from @azel1204
Token burning is beneficial for any project, as it controls the amount of token circulation and provides greater incentives to investors. Does your great BIRD project have plans for burning tokens in the future? and what is the method of burning it ?? Thank you
We have already proceeded in burning the unsold tokens from pool 1. Also, we intended to shrink the supply further moving forward.
Q2 from @Konstantin233
Vast majority of Crypto projects are built just for the sole purpose of amassing wealth for themselves. So, I want to know the value you aim to add to the crypto industry that will bring greater abundance to the industry?
We are working on a project that will see great interest from private institutions. We want to build the credit bridge between the decentralization technology data and traditional institutional.
Q3 from @finalni
Too many projects promise magic but never release any working product or prove any revenue, Within a short/long time of release. Is your project also like this? If not can u tell us, What makes your project different from other projects?
Hi Carlos,
We have already released some tools to show the potential of what we intend to release moving forward. We don’t have any reason not to deliver since it’s already what we do. We have the skill necessary to deliver.
Go through our website and find out some of the features and apps already released.
Q4 from @yjacobi
Partnerships are crucial for Adoption, so can you tell us what partners you have currently and future partnerships
We are looking to partner with traditional lenders, aggregators to help integrate with the system.
Q5 from @mcremin
Can you tell us how do you plan on getting Bird Money adoption increase and how do you generate revenue from your technology/platform?
The platform usage will play a vital role in organic growth. Also, we plan to do some press releases and media publications. Our partnership plans will be instrumental in adoption.
Here are some important links of BIRD MONEY:
Website: https://www.bird.money/
Medium: https://medium.com/bird-money
Twitter: https://twitter.com/_birdmoney
Discord: https://discord.com/invite/Z2BeCnS
Github: https://github.com/bird-money
