Recap of “The Zoom Community Connect Session” with Kebab Finance.
Our first online “Live Community Meeting on Zoom.”
On March 30, 2021, we had our first “Zoom Community Meeting” to help educate and bring value to the Binance Smart Chain and allow the community to discuss the future development of Kebab Finance after successfully reaching the final phase of Binance’s Most Valuable Builder (MVB) Accelerator Program.
Moderator ( David):
We’re thrilled to have you all here; this is our first ever session with the community. Can you all hear me? If you hear me, can you just type something? Let’s see, okay. Great! Everyone can hear me now. We had some technical issues. This is our first time to use zoom with the community. We tried to find some other ways to connect with you guys. I’m David. I will be moderating this session, and I will be forwarding your questions to the team. T.J is going to be our second moderator.
Moderator (T.J): Hey everybody!
Moderator (David): Welcome T.J! How are you doing?
Moderator (T.J): I’m doing great! I hope everyone else is doing good as well. I’m excited about our “First Community Zoom Meeting.”
Moderator (David):
I think we started receiving some questions already. What you guys need to do is start forwarding your questions on our Global Channel. This is going to be a brief overview of what kebab Finance is, as you already know, and at the same time, it’s going to be an opportunity for you guys to forward your questions to our team. Right T.J?
Moderator (T.J):
Yes! We’re having some new developments and we’re going to be giving out more kebabs to help drive the community because we want to award you guys. Can you hear me David?
Moderator (David):
Yes! We’re looking for the best questions. Questions that make sense. Questions that are in conjunction with Binance Smart Chain and questions that will help the community learn a little more about the DeFi space and Kebab Finance.
Moderator (T.J):
Chef is trying to get into the Zoom call. We could add him up real quick. He wanted me to let you know.
Chef: Can you guys hear me?
Moderator (David): Yes! Hi and welcome!
Chef:
Welcome, David! First of all, thank you for organizing this community meet-up. I wanted to give a brief update to the community about how the project proceeds and what’s our perspective in the DeFi space. So I think people would love to hear what we believe as Kebab Finance. It will be a brief explanation from my side.
Moderator (David):
We’re receiving the questions. We have around 2 minutes then I will be forwarding the questions.
Chef:
All right! Let’s start in 2 minutes because I have a really unstable connection, and I had issues connecting to zoom, so …
Moderator (David):
Okay! T.J is also going to check the questions. Question #1: This is from “Manu.” “Community support is one of the biggest aspects of a project. Most projects have programs that interact with their users. Do you have any special plans to attract, expand the community and improve the user’s experience?”. T.J
Moderator (T.J):
Yes! We’re developing a new U.I and interactive roadmap and a completely new app that will have you guys be more in tune with our updates and be more intuitive and attractive. And overall, we want to give back to our community through that. David, do you want to talk a little bit about the roadmap in the App we’re working on?.
Moderator (David):
The roadmap is an interactive one, so we’re planning on sharing our interactive road map with the community on a future live session, hopefully. And there is going to be an interactive application. This will allow the community to interact professionally and transparently. We noticed that scammers had targeted us in a lot of things. Actually, they are just an obstacle to what we’re doing and what we’re trying to build for Binance Smart Chain. We’re doing our best to eliminate all of that, and in the process, we noticed that Binance Smart Chain needs transparency in working with the community. So this is more of building the community and having a transparent approach in what our project is trying to achieve in the long run. So the application is going to allow the community to interact in a very professional way and in a transparent way and you won’t really notice or see any of those attacks.
Moderator (T.J):
I think we’ve had spammers, Brute Force Attacks… We’ve had all kinds of different ones, and we’re tracking them globally. We had scammers from Russia…I think we had a few from India, and I feel like what this App is going to do is help us streamline everything better for a real community and keep the scammers and spammers out. And yeah, I mean we’re already doing a lot of that with the new changes that we’ve implemented recently. But once we have this App launched, I feel like you guys will be excited about it.
Moderator (David):
Yeah! And there is an interesting question here which is on the safety of the funds. I believe that the safety of the funds starts with the community. If you have a strong community, they’re going to be very supportive, and they’re also going to educate other members of the community in the process. So the problem is that some people don’t have that much knowledge about how everything works, so we are trying to simplify this everything for them and make this very simple in terms of interactions. So I think there is so much to explore in Binance Smart Chain and explore with us as a team.
I have a question for Chef.
Chef:
Which one is the question?
Moderator (David):
Can you indicate a feature that you like best about the platform to compete with other competitors? What are you confident about in the platform?
Chef:
Okay, so what I want to explain when joining this Zoom call is the next patch and what we plan with Kebab Finance in the long and short term run. And if you see it suitable because you are the moderate growth to talk, I would like to talk 10 minutes top about what should our users expect from Kebab Finance. It will touch upon the competitive scene and how we are planning to compete with other DeFi Apps because the DeFi space is relatively young and quite experimental. Let me start with the next patch. I think all of the people are waiting for the details of Burn, the Dashboard, Future Tokonomics and stuff like that. I will try to explain those in 10 minutes, and we will have our communication channels open as in the previous weeks, like Medium. You can expect detailed articles on how these things work. The next patch will mostly cover a detailed dashboard. All the users will be able to see their price of L.P Tokens, what they’re holding, so they don’t need to use third-party sites to check the price of an L.P Token…Sorry, what did you say, David?
Moderator (David):
It will be easy for them to see all the information in one place.
Chef:
Yes! It will be better for a newcomer adjustment because when they are like hopping into DeFi space, they don’t know what an is an L.P token, so they should be able to see the value of their tokens and overall statistics. We plan to improve to the top level. The first step is the L.P price and some useful information in the DeFi space. It’s more of a tidy U.I to provide some E.store user. So this is the first thing that will be in the next update. The second thing is Burn Mechanism. So the Burn Mechanism will be a Duo- Token Model, and it will have some specialties — Deflationary Specialties. So let’s say that you will be able to burn Kebab to (X) Token with a one-to-one ratio on day one. Still, after a day, the burn efficiency will reduce, so it will encourage users to burn their Kebab to get the (X) Token as fast as they can, so the numbers will be on the article when we explain it in details. The (X) Token will actually be the second layer of farming, but the trick is what we wanted to provide is a real yield to both Kebab and the (X) Token. From my perspective, when you are farming a DeFi token or any other low-cap token the real thing is like real but it’s actually not real. What we actually want to provide is…we want to operate like a hedge fund or investment fund and do the investment that brings yield and delivers it back to the community. So, for instance, we have BNB and BTCB pools. Basically, the yields from those pools…we are actually putting it on those pools from our staking rewards from the BNB and the BTCST we hold. So what do you want to do… okay…
Moderator (David):
Sorry to interrupt you. There is something that a lot of community members are asking. How does that happen? Where does that come from?. So we actually explain that to them in a previous medium article and it was very clear is that it was an investment. Many people still have questions about…how does that work ? and I think this is very clear now that commute understands it. on
Moderator (T.J):
I’m sorry to interrupt again. Well, what exactly was that article? I can send it in the chat here so… you guys can have it.
Chef:
It was one of the first articles.
Moderator (David):
One of the first articles on BTCB?..
Chef:
BTCST
Moderator (David):
Yes! BTCST
Moderator (T.J):
I’ll look for it…
Chef:
We actually plan to add to this second token when you’re going to get with burning Kebab is additional yield. Let’s say that Kebab-BNB and BTCB yield right now … can get BTC and BNB. These are high market cap tokens. I like to define them as high yield. So what we want to do is give additional yield to the burned token, and it will also be tied to the governance tool, so you will be able to participate in the community votes with the burn token. Another utility is added to it, and in the future, if we can find anything that yields we would like to add it into the burn token pools as additional rewards. It will come up like this. So there will be new farm pairs, and there will be a market for the new burn token. So you can actually define it as a second layer farming but also… It has utility to governance, and we are planning to add additional stuff to these burn tokens.
Moderator (David):
A burn token with several functions.
Chef:
Yes! Several functions. I personally want to add more functions if we can work around. So it will start exactly as Kebab, it will have governance tied to it and have additional yields tied to it. It may be even more functional than the Kebab token. Obviously, the burn efficiency will be down every day. It will be a different economic mechanism to experiment in the DeFi space.
Moderator (David):
This is something new on Binance Smart Chain. And I think this will bring value to the investors. I think this is an amazing approach to how the burning mechanism should be approached.
I have another question. This is an interesting question that we’ve been receiving all the time. This one is from “Random Individual” this is the name of one of our community members: “Does Kebab have any plans to have an in-built auto-compounding in the future?”
Chef:
Well, obviously, we cannot something like that but it’s not in the short term roadmap, actually. It’s a feature we can add. And we will probably add in the future, but I actually didn’t do any work on it. So I can’t really say anything right now. Let’s say that if you open the governance vote on the kebab, and the users actually wanted it or something different… because… as developers, we have to manage the workload efficiently to provide the most wanted features that will bring value to the project. So, obviously, it needs to be added. I don’t know when it will be in Kebab Finance. It’s a developing project, and we will work on it.
Moderator (David):
This is a good question, I think. This one is asking your opinion about the community. “Do you really take into account community feedback?” from “Viper Pilot.”
Chef:
If he’s asking my opinion, I think we really managed to build a great community in the first two months even though it can be tiring to communicate one to one with every investor. Like a supporter for our community … I think overall, we have a great community, and I’m receiving some messages — support messages from time to time. I’m checking my DMs. You can always contact me. I try to answer everyone on a daily basis. So let me be honest, I wasn’t really active on Telegram for the last couple of weeks. I think the overall state of the community is great, and we can always add to it.
Moderator (David):
Yes! So we want the community to rest assured that we are trying our best and listening to them… and we take their feedback. We are working 24/7… so we’re doing our best. Now. I think I will conclude with this one last question. This one is on Certik. Members are asking, “would it take so long?”
Chef:
So let me explain how Certik operates, when we apply for a full audit at Certik. It was the 17th of this month ( March) …It was 12 days ago, they gave us preliminary comments. It’s for the company and us to improve the contracts…like … minor improvements … like gas fees Github organization… and… those are small fixes. So we did that, we sent to them for a secondary review. As you can imagine, Certik is receiving a lot of requests for full audits. I don’t know how many people… how many developers are working in their team, but I can say that I received a message saying that… let me check actually… I’m sorry for the delay guys…Okay! I received a message saying that the final report will be provided later today, but the Certik audit is not in our hand right now. So we need to receive feedback from Certik. I think it should be up in their portal. That’s showing the project’s state, and as far as I remember, we applied for it the Shield Program. It was one shield, but I want to try it. It’s a security program for DeFi space, and it will be up soon, I guess.
Moderator (David):
So that was it, I think. These are the questions that we have for now. Is there anything that you would like to add
Chef:
Okay! I wanted to explain every element 10 minutes …20 minutes and mention the details of the next patch so people would know what to expect and the timeline. Timeline is what I anticipate 2 to 3 weeks, and it will contain Dashboard, Improved UI, Burn Token, New Pairs tied to this Burn Token, New Burn Token Pools, and Governance tied to this Burn Token. Most of the work is almost done in the backend part. People should know what to expect in this next patch, and we will be releasing more detailed articles and speed up the communication because, as you saw, we are on the line. We have a chance to be in the top 5 and move to the innovation zone. We should speed up the overall development and communication process as Kebab Finance.
Moderator (T.J):
Yeah! Like Chef was saying with the turning up of articles coming up soon, I think that speaks volumes of how much we care about our community. In this upcoming month, we’re just going to have a lot more engagement moving forward, and we want to include you guys as much as we can, and we really care about our community, back to you, David.
Moderator (David):
Thank you, Chef, and I would like to thank everyone for taking the time to join us today in our first-ever Zoom meeting. I think that this is… we are the first project in the history of Decentralized Finance to have a Zoom meeting if I’m not wrong. It was an opportunity to sort of connect with the community. If you guys have any questions you wish to ask before concluding the session, please feel free to ask. Use our chat on Zoom. T.J, I think you’re able to see the questions. This question is from “Matteo.” “Matteo,” you are unmuted now.
Community Member (Matteo):
Hello everyone!
Matteo hi! Thank you so much for joining us today. Thank you for all the support and positive energy that you brought to the community. Matthew has a question. We’re listening.
Community Member (Matteo):
Sorry, I am not so good at English. I will try.
Moderator (David):
Are you Italian?
Community Member (Matteo):
Yeah!
Moderator (David):
I notice from your accent.
Community Member (Matteo):
The question is…what, in your opinion, was the most important feature to pass phase 2 of the MVB, and what do you have up your sleeves to compete in phase 3?
Chef:
Phase 3 is the innovation zone, so we need to make some innovations. Even though the second token and burn farming will improve the attraction and users will like it, we have other plans to implement on Kebab in the future like Kebab- Silver, and I plan to make this close code source. As far as I understand, Binance really likes closed-source code for some reason; I don’t know why. And we actually want to make Pegged Silver Token backed with actual silver, and it will have decaying token abilities. It will be a special BEP20 (BSC) token. After we are done with this patch, I think we will directly move forward in that direction. Even if we can’t get into the innovation zone at the end of April, we will eventually get there. We will be building on top of it every month, and it’s just a matter of time, in my opinion. It’s mostly about community interaction gathering more people to the Binance Smart Chain (BSC), and experimenting with the DeFi space overall. I hope it answered your question. I saw one more question in the chat, and I really want to answer it because I’m receiving it for a lot of time. It’s about the migrator code.
Moderator (David):
Is it in our Zoom, or is it in our Global Channel?
Chef:
It’s in our Zoom chat. I think Adam asked for it and James Jackson as well.
Moderator (David):
Yes! It’s on the migrator code.
Chef:
Okay! So if I answer directly right now, I think it would be okay for people. Migrator code is something really annoying, and when we were forking Pancake, we got the migrator code on Kebab, and for security reason, we added 12 Hours Time-Lock Contract after a week. It really serves the purpose, but technically, it’s actually possible to get rid of the migrator code. Let me try to explain the technical aspects so people can understand why we can’t delete the migrator code. So If we try to delete the migrator right now, there will be a brief moment in which we can take away all the funds because we need to interact with the master chef contract. To delete the core code itself, there will be a security breach if they ever tried to do that, and I never want to touch the migrator code, but what we can do in the future as a potential precaution to this, we can have the special comment to the Time-Lock Contract which disables us from using the migrator code. It will be technically usable, but it will still be in the core code because if we try to delete it from the core code right now with 15 Million TVL, it will only create fud, and the project comes to the edge of a collapse in that process. After that, maybe we can get back to the TVL amount, and the token price will recover, but I really think it’s a reckless move to delete the migrator code because the only technical way is to actually interact with the code, and it’s a security risk right now to delete the migrator code that’s why Pancake is not deleting it as well. So what we are offering is a potential solution that will completely disable us from interacting with the migrator code. In theory, it works. Obviously, we will be able to open it to the governance. Maybe if the community wants us to completely delete the migrator code and trust us with the funds, we can do it as well, but we need the governance tool for that. I hope it answered the question.
Moderator (David):
Okay! Thank you very much. They’re actually asking us about the new token name. So…
Moderator (T.J):
What are we talking about?
Moderator (David):
The new token name. We didn’t actually mention anything about the contest regarding the new token name.
Moderator (T.J):
Yeah! For sure. So we’re going to be launching a new contest soon, guys. It’s going to be on Twitter and Instagram. David will pin it in Telegram. We’re launching it on Reddit as well. It’s actually a contest to name our new token and in which you guys will compete to see whoever can come up with the best name, and then from there, the winners will be rewarded in kebab. Have we decided how much kebab, by the way, David?.
Moderator (David):
Well, it hasn’t been decided yet. What’s important here is that the community will have the chance to participate and name a token. This is something that’s very important in the DeFi Space. You really need to give the community a voice to decide on certain issues or certain things. And that’s what we as a team are trying to achieve with the community if the community is able to come up with a creative name.
Moderator (T.J):
And I think too the name will be representative of our community and like you said including our community is a really big part of these projects and it’s really a big part of who we are. We want to include you guys, so you be able to come up with a new token name. I feel like it’s going to be really representative of what we care about, and that’s putting our community first. We thought it’ll be a great idea to have you guys try to come up with something that could represent the community overall.
Moderator (David):
I think we have answered all the questions that you guys have. So we will be choosing from the questions that we have here on our Global Channel. And I think the best questions you will receive some rewards. We will be announcing this to the community on our Global Channel. Thank you for attending.
Moderator (T.J):
Thank you, guys! This is awesome
Moderator (David):
This was experimental because it is our first time doing this on Zoom, and we’re also learning. We’re learning from you and how these things work. We hope to improve on our services and build a great community, and I think we will get there.
Moderator (T.J):
For sure.
Moderator (David):
I’m very confident.Thank you very much! Thank you for attending. Any last words?
Moderator (T.J):
Thank you, guys! This is really awesome, and I think we have many more of these to come. We really appreciate you and I really like our community. So thank you guys for attending, and we’ll see you soon!
Moderator (David):
All right! Thank you very much.
Those who have missed out our Live Community Meet-Up on Zoom can watch it on our Youtube Channel.
Feel free to comment and give your opinion. Don’t hesitate to ask us for the next Live Community Meet-Up subject.
If there’s anything you’d like to see or if you have questions, message us at any time.
