AMA content review
💗 Host:Cyrus, Hotbit AMA Host
💗 Guest: Che Brandon, Founder of Base Reward Token
Cyrus: Let’s welcome Che Brandon, Founder of Base Reward Token @allosparacletus to introduce【Africa’s Bitcoin and Next Biggest Enterprise】to us in AMA. Thank you for being with us today. Let’s begin!
Could you introduce yourself to our community?
Che Brandon: My name is Che Brandon, I started my crypto journey back in 2015 when I first came across bitcoin and since have being an investor and entrepreneur. The concept of bitcoin itself was so fascinating and the underlying blockchain technology was quite impressive that after my studies in Business Management, I started and in depth study of Tokenomics and blockchain technology.
By 2018 I had participated in many crypto project as investor and also as adviser for some few crypto startups in Africa. The slow adoption of cryptocurrency in Africa and the lack of innovation in digital businesses across the continent influenced me and my team to develop the Base Reward project
Cyrus: Tell us about Base Reward?
Che Brandon: Base Reward is an African startup and we aim at creating an effective and scaling digital one-stop-shop marketplace economy with a sustainable economics (Base Reward Ecosystem) powered by blockchain and cryptocurrency (Base Reward Token ).
Base Reward Token is Decentralize Finance token which aim at rewarding users for their loyalty as token holders and as consumers within the Base Reward Ecosystem. Base Reward Token holders are considered to be stakeholders for Base Reward as we distribute up to 60% of profit of the ecosystem back to all token holder in form of buy back ( more on that latter ). Website: https://basereward.online
Cyrus: Is there a difference between Base Reward and Base Reward Token?
Che Brandon: Yes there is a big difference. Base Reward is the name of our startup company and Base Reward Token is the cryptocurrency. The two are working in a synergy
Cyrus: what makes BRT so special to become Africa Bitcoin?
Che Brandon: BRT (Base Reward Token) is design to replicate same core characteristics of Bitcoin and even beyond. We took the core characteristics of bitcoin and made improvements in areas that we found bitcoin to have short comings and also added extra characteristics to our token to make it even more DEFLATIONARY in nature and Eco friendly. Core characteristics of Base Reward Token
1. Staking (3650000 tokens mintable for 25 years) https://finance.basereward.online
2. Buy back and burn
3. Governance Token
4. Limited supply only 12 million
Just name the few. With our business model and the Tokenomics our cryptocurrency, these two combine together when adopted just by a few masses can create a very interesting value for the asset Base Reward Token.
Cyrus: BRT being super deflationary, can you give us more details?
Che Brandon: Yes. There is a total supply of 12million tokens ( https://bscscan.com/token/0x0d499b25bce7aa72bb6c50e434e2ed26fe1e785d ) and we have implemented 2 buy back and burn procedure to have token total supply keep reducing over the years.
1. Staking fees: when users interact with our staking Dapp, they incure fees in BNB for Staking, Unstaking, Compounding and Harvesting, 75% of that fees goes toward buying back on pancakeswap and will be burned quarterly and 25% toward development. The first token burn event will take place on the 30th of September 2021.
2. 60% profit distribution: From our ecosystem profit, as mentioned earlier 60% of profit will be given to token holders by buying back tokens from exchanges and with the profit and burning them. This event starts once we launch one ecosystem services and is carried out quarterly.
The two mention procedures will constantly reduce the circulating BRT and push the token value upward.
Cyrus: How does staking on BRT work?
Che Brandon: BRT staking https://finance.basereward.online works using same principle of mining bitcoin using a mining pool. There is a total of 3650000 BRT tokens to minted and only 5000 tokens can be minted daily from the first year of contract deployment.
The 5000 daily minted tokens is distributed among all users who have put their token in stake according to their pool percentage %. Pool percentages are not fixed and varies according to total tokens being added or removed from stake.
Also, after every 365 days from the exact date of the staking smart contract deployment, there will be a staking reward halving which will divide the number of daily reward by 2 and this procedure will continue for 25 years before there will be no more tokens to minted . Every year, the staking reward therefore reduces and minting new tokens get more and more difficult. Staking Base Reward Token is not based on a fix APY model.
Cyrus: What is Base Reward Ecosystem?
Che Brandon: The Base Reward ecosystem in simple is just the collective services which are going to be launched by the company. All these different services make up the Base Reward Ecosystem. Example of services to be launched by Base Reward includes;
1. Exchanger (Swap, p2p and Instant exchanger) we already developed an MVP (https://swap.basereward.online/ ) for our instant exchanger and we invite the community to give it a try. We will be improving it and developing other in the coming months.
2. Debit Card service: virtual and physical card crypto card services for Africa and other part of the world.
3. E-COMMERCE Services (p2p)
And more. We invite the community to check our whitepaper: https://docs.google.com/document/d/1P1tv4qqaf2z4hbsDFhuIaq865El7YVSvHt4rchVzdX8/edit?usp=sharing
Cyrus: Tell us about project development/roadmap so far?
Che Brandon: According to our whitepaper here: https://docs.google.com/document/d/1P1tv4qqaf2z4hbsDFhuIaq865El7YVSvHt4rchVzdX8/edit?usp=sharing
Development of Base Reward Token have being advancing accordingly. We have already developed the staking smart contract and deployed: https://finance.basereward.online Developing instant exchanger: swap.basereward.online
And as of now we are already working on Base Reward Wallet. The first crypto wallet that Rewards it token holders for every transaction, Staking, Banking many other functionalities. We presently working on partnership with banking institutions and other parties to see the development of Debit card services.
Cyrus: Now we move to the last segment of the AMA session public Q&A, Now let’s invite @allosparacletus to pick some good questions to answer.
@yennessyer: Do you have AUDIT credentials or are you working to AUDIT your project, to make it more secure and reliable??
Che Brandon: Yes, we are currently AUDITED and you can check it our audit report here https://drive.google.com/file/d/1Z_x2qzFmTskbl1JfDJ0_qjloFjYPjP0Y/view?usp=sharin We believe security is important keep working on that thanks
@sssteinman: What will your project do to attract investors when the current market is unstable?
Che Brandon: Investors and holders are very important to every crypto project. We are getting things ready for bigger Marketing to put Base Reward Token out there but online and locally. Participating in AMA sessions as this and utilizing all best resources available out there to increase our visibility.
@GonzaloFanning: How important is the community to your project? And how can we collaborate or help share token for the development of the project?
Che Brandon: Community is everything for any crypto project. We are take community very serious and that’s why we have a governance protocol so as to give token holder a say in the project. We know community have a big role to play as to spreading info about Base Reward Token and we therefore always put our community to work by getting them involve in affairs regarding the project.
@xMakaha: Almost 4/5 of investors are focused purely on the price of token in short term instead of understanding the real value and health of the project. Could you tell us on motivations and benefits for investors to hold your token in long term?
Che Brandon: Holding Base Reward token you have the ability to decide what decide direction project goes, you share in project revenue as token holder. The most special thing about Base Reward Token is that users can do same thing they do online like shopping, gaming, banking or swapping cryptos and earn cash back in BRT token for their loyalty.
@legananchi: Non-crypto user is very important for mainstream adoption. How you are planning to attract non-crypto users towards your project? Is there any upcoming partnership that will brings non-crypto user and real-use case?
Che Brandon: Yes, our strategy in bring in non-crypto users in first of all through the cashback system. When any one uses any of our ecosystem services when launched, they can be reward in BRT this will automatically mark their journey in the crypto world. Also, we have in pipeline many partnerships and plans to utilize and get more exposure.
@KandyMoss: For any crypto project, 1% of its success comes from the idea itself. 99% comes from execution. I have seen many projects fail due to lack of expertise & understanding of how the crypto sphere works. Does have the qualified team needed to fulfill all your goals?
Che Brandon: We do have a qualify team working with us and with the overall large scope of our project, we will be getting more experts in various areas where we may have short comings.
@gyomax: What is your advantage over other projects? Is it from a security point of view or the technology you are using? Or are there other advantages? What makes you believe that your project is worth choosing?
Che Brandon: The advantage of Base Reward Token over other project is based on its economic model, business model and technological application.
@hecnu777: What are your major goals to achieve in the next 3–4 years? And what are your plans to expand & gain more adoption?
Che Brandon: In the next 3–4 year we look at being the biggest Africa cryptocurrency and a well pronounce name in the crypto sphere and Africa Market. As earlier mentioned, we will utilize all methods at our disposition to expand the adoption of token and consumption of our services. Growing the ecosystem services is very important to us for the growth of the value of BRT (Base Reward Token).
@hellowyrm: Which one of these aspects important for you? 1-Increasing Token Price & Value, 2-Empowering Platform Development, 3-Building Community Trust, 4-Expanding Partnership Globally
Che Brandon: 2 & 3 are very important to us, which push the other options to be attainable very easily.
@YolondaMayberry: Until what corner of the world do you plan to arrive? That is, to what extent in the world do you think your Project will be solving people’s problems with their infrastructure?
Che Brandon: We intend to become the next biggest crypto in term of value and utility and our definition of next biggest crypto means over taking bitcoin and becoming Africa digital goal. The above is achievable as all we are building isn’t just for fancy sake but solves a lot of problem in Africa presently. I will invite to check out our presentation video to get some few details on that https://youtu.be/6qpqwTT9sQ4
@DonitaBurnett: What’s your main focus right now, are you focused on the community or market/Exchange or the products?
Che Brandon: As of now we are focused on market/exchange listing. Once our goal there is achieve we will fully put our attention on community and marketing. Products development is always and will always be our top priority.
Cyrus: Thank you. The above is all for today’s AMA. If you want to know more about Base Reward Token or have more questions about Base Reward Token, please check
Base Reward Token’s website and community links can be found here.
Official Website: https://basereward.online/