Hi All, the below Q&A was shared via Telegram for our pre-sale. Including it here for our community’s easy reference. Thanks!
Q&A ROUND 2
A Big Thank You to everyone who has joined our Telegram community. We have collated a few common questions we’ve received into a Q&A format and sharing our responses with our community. This second Q&A will focus on Collaborations, Credibility, Consensus Method and more.
Will the platform be based on PancakeSwap or another? Why choose Pancake Swap?
Our 1BCH DEX will be based on PancakeSwap v2, which we believe makes us the first in the SmartBCH ecosystem. After in-depth consideration, we decided on PancakeSwap v2 because it is feature-rich (lotteries, pools, farms, NFTs, etc) and will allow us to expand into many areas which we think will bring tremendous value to the BCH and SmartBCH communities.
How do you plan to entice users of other DEX’s over?
We are very hopeful about liquidity flowing into the SmartBCH ecosystem, as more exciting projects launch on SmartBCH. This will drive positive user and usage growth of our DEX and others in the BCH community too.
How can I collaborate or invest in 1BCH beyond the pre-sale?
If you are interested in our main sale or any other collaborations, please send an email to team@1BCH.com
On which exchange will 1BCH be listed?
Apart from listing on our 1BCH DEX, while we are actively looking into this, we unfortunately cannot comment on exchange listings at this time. Whenever our token is listed on an exchange, the 1BCH Community will be the first to know.
Who is responsible for advertising / promotions? How can I help?
Thank you for your interest in 1BCH, please direct all queries to team@1BCH.com
Is it possible to mine 1BCH?
Our 1BCH token is built on top of the SmartBCH network, so no, it is not mineable.
Will there be any high APR farms?
That’s on our minds, but we are unable to confirm at this stage.
Where can I get a referral link?
We currently do not have a referral or bounty programme, and will announce it on our Telegram if this changes. Thank you.
Can U.S. residents participate? Which country is prohibited from participating?
Our BCHPad and Flipstarter campaigns and 1BCH do not, and are not intended to, constitute, or form any part of, an offer for sale, prospectus or invitation to obtain the 1BCH tokens. Before contributing, you are advised to take professional advice. By contributing, you confirm that you are not a citizen or resident of the USA and/or a jurisdiction which prohibits your involvement in cryptocurrency related activities.
Does 1BCH.com have a MVP?
We have been working on 1BCH.com since August 2021, and we are excited to share with the SmartBCH community a MVP / prototype of 1BCH.com. Please stay tuned to our Telegram for more information.
The Beach rug hurt a lot of people. What are your team’s thoughts?
Our team committed ourselves to BCHPad’s private doxx and have listed out in the question directly below more broadly how we will earn the trust of our community.
To be honest, just like everyone in the BCH community, we were very disappointed and traumatised by the Beach rug-pull. In addition, we were worried that our effort, our DEX and any potential token sale would be badly hurt by this incident.
As such, we significantly revised our hardcap downwards. We hope that a smaller raise will make the community more comfortable with us and build trust. This was also after feedback from members in the community who we respected.
As you will see from our pre-sale launch, we’ve instituted other measures we hope can build trust within our community.
What we want to share with the community really is this: We are very committed to 1BCH and the wider BCH and SmartBCH communities. Let the 1BCH team earn your trust.
Has your project been audited?
When 1BCH.com is officially launched on the SmartBCH Mainnet, we will do a third party audit prior to our main sale. We understand that our credibility and security of 1BCH.com is crucial to our community. Hence, we can make the following commitments:
Prototype: We have been working on 1BCH.com since August 2021, and we are excited to share with the SmartBCH community a prototype of 1BCH.com. We will be sharing the link to our prototype via Telegram. After funding has been completed, we will finalize our testing phase, fix any bugs that may occur and launch it on the SmartBCH Mainnet.
Private Doxx Audit by BCHPad: We have undergone and passed a private doxx audit by BCHPad. BCHPad’s announcement will be shared on our Telegram channel (see links below).
1BCH’s Open Source Code: Our open source codes can be found here: https://github.com/1bch for everyone to review.
Involvement in the BCH community: We have been involved in the BCH and SmartBCH community for a significant time. Our website 1BCH.com has been active since 2018 as a BCH-focused exchange. Please see Web Archive links: https://web.archive.org/web/20190615000000*/1bch.com
Locking of Tokens: All the team tokens will be locked for a period of 12 months (from close of pre-sale) using an accredited and audited third party lock-script, such as smartbchlock.bscrypt.finance
Locking of Funds raised: 50% of the funds we raise in our pre-sale will be locked for a period of 6 months (from close of pre-sale) using the same accredited and audited third party lock-script as mentioned above
Where can I find your roadmap?
We have an aggressive roadmap which we intend to launch prior to our Main Sale. At the moment, the key mile stones are to have a successful pre-sale through BCHPad and Flipstarter, the launch of our 1BCH DEX and to have our main sale within 2 months from our 1BCH DEX launch.
What partnerships do 1BCH have?
We have started discussions with a number of potential partners in the DeFi and blockchain space. We are hopeful to further our goal to deliver a great DEX, and more DeFi functionalities anc collaborations which will create a more complete 1BCH DEX and DeFi experience on SmartBCH.
Please stay tuned to our announcement channel for more updates on partnerships!
We note that in your previous FlipStarter (500 BCH, multiple products, was unsuccessful), the features like chrome extension, two way bridge and decentralized prediction markets were included. Will these be included now?
These are still part of our road map. However, for our BCHPad IDO, we are currently focused on the core DEX platform.
Will you be doing more funding in future for these other projects? Or do you guys have a different plan for that now?
Yes, we intend to have a further sale in the future (within 2 months of pre-sale) as a main sale which may include these projects and potentially other ones too. This pre-sale IDO is to allow our DEX to launch and more importantly, to allow us the opportunity to gain trust from our community.
What are the competitors that 1BCH may face?
At 1BCH.com, we will be delivering more DeFi functionalities than just a typical DEX which will create a more complete 1BCH DEX and DeFi experience on SmartBCH.
Like 1BCH.com, the other DEXes on SmartBCH are very new, and there are no established ones at the moment. Hence, in our view, it is beneficial that there are a few DEXes, which will compete for the attention of the SmartBCH community and improve technologically and launch new products. We firmly believe we have an incredible proposition and excellent team to contribute to the SmartBCH community.
We are also very bullish about liquidity flowing into the SmartBCH ecosystem. It is still very early days in the BCH / SmartBCH community and roadmap. We expect the liquidity flowing in to increase significantly in the future as more exciting projects launch on SmartBCH.
We are working hard on 1BCH.com to create a DeFi experience and products that you would hopefully enjoy, so please stay tuned.
What consensus method is 1BCH using?
We are a token running on the SideChain SmartBCH. While BCH is using POW, the sidechain is using POS on Tendermint. All tokens on SmartBCH — including 1BCH — use the underlying consensus of the network (POS).
Can you tell us more about the relationship between 1BCH and rBCH?
There will be two tokens by our DEX: (a) an Exchange token: 1BCH; and (b) a Farming token: rBCH. For a 180-day period after the launch of 1BCH DEX, there will be a minimum guaranteed rate of 1 token of 1BCH = 100 tokens of rBCH. During this 180-day period, we will buy back the rBCH tokens to maintain such a minimum guaranteed rate. The maximum rate of the rBCH token shall be floating based on the market. You can use the rBCH tokens for staking in the 1BCH DEX.
Can you tell me more about staking and farming pairs on 1BCH.com?
We will be sharing more information during the launch of 1BCH.com.