AMA Recap: CRYPTO MINERS X SINGLE FINANCE

Single Finance is a super intuitive platform to all your DeFi investments minimizing correlations to the general market. Everything here is worked out from your injected capital in USD. Everything is visualized. And everything is within your fingertips. Single Finance is the first DeFi protocol offering USD-based capital-protecting strategies for leveraged yield farmers.

We hosted an AMA session with Single Finance on 13th February.

Mr. Ramsy was the host from Crypto Miners and Mr. Kenny was the guest. He shared delightful knowledge and unique features of Single Finance.

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Segment 1️⃣: Introduction

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Ramsy:
Hello everyone 👋 and welcome to the Crypto Miners AMA session With Single Finance

To help us learn more about the featured project of this AMA session, we are lucky to be joined By Mr Kenny

Kenny Denton Jr.:
Hello 👋. glad to be here

Ramsy:
Hello there 👋

Wolcome here,
Thanks for bringing Us Single Finance❤️

Kenny Denton Jr.:
my honour

Ramsy:
How are you today mate?

Kenny Denton Jr.:
can't be better!!!!

Ramsy:
😸😸

I'm pretty sure that our Community is very much excited to learn more about Single Finance ✌️

So let's get started if you're ready!!

Kenny Denton Jr.:
yes sure

Ramsy:
First of all Please give us a brief explanation about 'Single Finance' .What popped up in your mind to create such a platform in this Space?

Kenny Denton Jr.:
Sure. Single Finance is a super intuitive platform to all your DeFi investments minimizing correlations to the general market.

We can’t say we are seasoned in DeFi - it’s a new gift brought to the world not long ago - but we can confidently say we have been involved since the early days, managing our own farms. But then one day we messed up big time when our positions got liquidated during market collapse.

We don’t want to repeat this ever again and we have then decided to build our own platform with all the bots and strategies and metrics that we ourselves find useful and that’s Single Finance.

We have some super strong engineers of course, and we are very proud to have farming experts and data scientists in our team. And you will see how they contribute to this wonderful platform soon.

Ramsy:
Thanks Kenny for this awesome start About Single Finance👌

Now Let's see our second question from this segment

Q2) So what are your main features and advantages that discern you from other Projects?

Kenny Denton Jr.:
3 things that you should not forget!!!!

Single Click Pseudo Market-Neutral Strategy
to minimize impermanent loss Single Finance is bringing a human-centric, ultra user-friendly experience and capital protection to DeFi, helping everyone earn more money with an ease of mind. The primary goals of both new and experienced farmers are simple: to earn high yields without suffering too much impermanent loss or being liquidated in a flash. Single Finance users can simply supply assets and enjoy our pseudo market-neutral liquidity mining strategy with just a single click.

Marked-to-USD Capital Protection Bot
The best thing about Single Finance is that everything is marked to USD. Not only is APY worked out in USD, our capital protection mechanism is based on your initial investment principal valued in USD. Therefore, Single Finance strategy users won’t lose more than 15% of their capital in USD, as their capital is protected by a stop-loss bot and a rebalancing bot. Just pick your favourite liquidity pairs and leverage exposure on Single Finance, and our bots will handle the rest to keep your capital safe and your sleeps tight.

Liquidity Pool Time Machine
This groundbreaking feature provides real return performance data, including trading fees, DEX yields and price impact, to help users pick their winning pairs. Time Machine also allows users to compare the performance between farming a liquidity pair verses farming the non-stablecoin asset of the same liquidity pair.

Ramsy:
Q3) How has the experience and background of your team been effective in the success of your project so far?

Kenny Denton Jr.:
Well, it reminds me some bad experience we had.

We were farming a pair at 3x leverage but suffered a flash loan attack. The platform locked all actions while the asset price dropped 80% in just a few minutes, and we got liquidated and lost 105% of our capital from the position. We thought we could have at least gotten half of our capital back, since we monitored the position very closely. Even though we had stared at the screen every minute, our effort was in vain - thanks to the platform policies and extreme volatility.

With this, we are more determined to build a platform to avoid this and that what we have built now!

Ramsy:
4) Now Share us about your Native tokens, What are the some of utlities of $SINGLE in Your Ecosystem? And if possible share to us the Tokenomics

Kenny Denton Jr.:
The SINGLE token four main utilities:
Decrease the performance fees paid to Single Finance Lab.
Increase the mining rewards.
Access exclusive Single-click strategies that provide higher returns and lower risks.
Claim our exclusive NFT in a limited period.

Ramsy:
Let's move to our last question from this segment

Q5) So how long did it take to develop this project? What plans do you have for the future? And what can we expect from Single Finance? If possible could you please share road map with us.

Kenny Denton Jr.:
We have spent like 6 months for development

you should expect us to bring lots of new things for DeFi such as the Time Machine which will be launched tomorrow!!

Q1 2022
Launch LP Time Machine with chain data of Cronos and Avalanche
SINGLE token launch
IGO on VVS.finance
CEX-MEXC listing (TBC)
Launch single-asset lending and staking vaults for CRO, VVS, USDT, and USDC
Launch a pseudo market-neutral strategy for CRO/USDC, VVS/USDC, VVS/USDT, and SINGLE/USDC
Complete audit with Certik
Launch a single-click strategy on Avalanche

Q2 2022
LP Time Machine: Ethereum and Binance Smart Chain chain data support
Additional CEX listing
Integrate with additional DEXs to support single-click strategy on new pools
Launch cross-chain bridge
Launch manual re-balancing feature for single-click strategy
Partner with more protocols to expand our ecosystem

Ramsy:
Thanks Kenny for this well detailed introduction about Single Finance:)

And that's the wrap up of our the first part of the AMA session ✅

Let’s now proceed to our Twitter Questions section

i hope you're ready for that!!

Kenny Denton Jr.:
yes sure

Segment 2️⃣: Twitter Questions

Ramsy:
1) While you build your project , do you take into account community feedbacks and demands?

Kenny Denton Jr.:
No, we don't. Just Kidding.

Ramsy:
🌚

Kenny Denton Jr.:
I think we have spent quite some money on building our community, esp on the 7-24 response to all our folks as we have fans from all the timezones

and we will soon invite some of our community members to let us know their feedback esp after the launch of Time Machine on MON

Ramsy:
2)Collaborations and partnerships are some of the most important cornerstones to help improve adoption. Could you please tell us about the current partners, plans for partnerships and what everybody stands to gain from these partnerships?

Kenny Denton Jr.:
we have been announcing new partnerships almost every week and there are more to go. in the coming week, you will see us listing on a new DEX and stay tuned to your community

Ramsy:
3) Single Finance promotes a CAPITAL PROTECTED YIELD FARMING and one of your services is an "Auto stop loss bot to protect capital in USD". Is this bot for free and open for everyone in your platform to use? Or does it have fees when using?

Kenny Denton Jr.:
here comes the 1st question from someone who may have visited our marketing site singlefinance.io, good one

YES, it's free and everyone farming on our platform can use it. everyone will like it as this saves you from huge loss!

Ramsy:
4) According to your roadmap, Single Finance will introduce a Cross Chain bridge in Q2 of 2022; can you tell us which Blockchains will be able to connect with this new upcoming bridge?

Kenny Denton Jr.:
supporting more and more chains is a very important direction for us and you will notice that currently we support CRO but then we will soon deployed to a 2nd chain

with this, we will build safe bridges with our partner and soon you will be able to farm lots of crypto assets with SINGLE Click, easy to use with low cost!

Ramsy:
5) As an investor, I want to know how strong is your project security system? and what benefits will a user have in the years to come when I decide to join the project you are working on right now?

Kenny Denton Jr.:
We have completed our Certik audit and you can view the report on Certik website

and we plan to get a 2nd audit very soon.

For benefits, if you have read our whitepaper, you will notice we have a very impressive buy back and burn mechanism, to the moon bro!!

also farming with our market neutral strategy can macke you rich !!!!

Ramsy:
Thanks for Your Valuable Answers❣
And that's the end of our twitter question segment

Now Moving on to our last segment - Live Q&A

Shall We Go mate?

Kenny Denton Jr.:
yes, can't wait longer

Ramsy:
Let’s go then

Segment 3️⃣: Live QnA
(In this segment group was opened for 60 seconds and Miners sent hundreds of questions. Guest choose some best to answer)

1)Noufal Basheer Noufu:
Will there be fees related to the rebalancing and stop loss bot when they perform any transactions on our behalf?

Kenny Denton Jr.:
No, we only charge performance fee on the portion of profit you have made by using our strategy and we will spend much of the fee collected to buy back and burn!

if you suffer from a loss, there is no fee.

2) TOMI:
IS Your platform suitable for crypto beginners? Or does it only limited for professional users?

Kenny Denton Jr.:
even the 80yr old granny can use our platform to farm as SINGLE Click strategy is designed for simplifying a series of complicated concepts behind farming. you will see us posting more tutorial articles and VDO very soon!!!

3) Abdul Rahim:
Do you think we’ll see institutions start engaging with and adopting yield farming in the future? Where do you see #single_finance fitting in and leading the innovation and development of DeFi and NFTs in the very near future?

Kenny Denton Jr.:
yes and we have already teamed up with some institutional investor to farm on our platform which will stabilised our initial TVL after launch. For NFT, we will sure introduce this to our platform for our fans, and there will be some very useful features such as lowering the performance fee

4) Noufal Basheer Noufu:
Can you illustrate an example using for example VVS-USDC and explain each step — where the stop would occur, how much IL and stop loss fees total, etc.

Kenny Denton Jr.:
well, the concept is simple. imagine you have invested USD1000 and spread 50 50 for the VVS-USDC LP. Once the value of your LP drops to a certain amount of USD below 1000 (like 15%), will will close your position to protect your capital up to an adjustable amount decided by you.

5) Manugotsuka:
I'm a typical lender/borrower users and I know the huge frustration of suffer impermanent losses, so I heard that single finance can offer a solution to reduce them, so can you explain us how Single finance affront the impermanent loss?

Kenny Denton Jr.:
best question of today. to explain this, it takes sometime, so please refer to our upcoming medium post or take a look of the youtube made by Crypto Queen

In short, you will have to farm a pair with one stable coin and we will help to borrow all the portion on the non-stable coin side, so you will maintain a market neutral position and you dont have to worry too much when the price goes up and down!

*This segment ends here*

Ramsy:
Thankyou so much For your valuable answers and information about Single Finance,
It Was Pleasure Hosting An Ama With You

Is there anything else you would like to share or you want us to know ?

Kenny Denton Jr.:
come visit our site singlefinance.io, to experience the Time Machine, every DeFi user should use it, and it's free

Ramsy:
Time To Conclude Our AMA Section

Kenny Denton Jr.:
thank you so much guys

Ramsy:
Best of luck for the next…

Community, if you would like to learn more about Single Finance, here are some useful links for you:

Website: http://singlefinance.io/

Twitter: https://twitter.com/single_finance

Telegram: https://t.me/singlefinanceofficial

Discord: https://discord.com/invite/raQcBPXEWu

LinkedIn: https://www.linkedin.com/mwlite/company/singlefinance