Here’s our 121th AMA recap!
Thank you to the Infinity Chain for participating in Ask Me Anything (AMA) with BabyCake September 12, 2021. This guest star,
- Monk — CEO
Introduction
Monk :
Sure, im 30, grew up in germany, studied business management, built a few company and projects
in crypto since 2017
been trading, managing funds for few investors
and we’ve built BabyCake ;)
QUESTIONS MODERATOR
Could you give us a simple description of the BabyCake?Monk :
BabyCake is the first CAKE reflection token. What this means is that it allows its holders to collect $CAKE frequently as a way of earning passive income with the help of reflection. When you hold BabyCake you receive dividends in $CAKE every hour.
What challenges are you facing now given the many similar projects to BabyCake? What the advantages of BabyCake?Monk :
BabyCake stands for innovation and we are the ones creating the trends. Our contract has been forked and used over 300 times. We consider this being a sign that we are on the right path as there a lot of other projects out there, trying to be as us. BabyCake gave birth to many baby reflection tokens (BabyXRP, BabyLink, etc)
Even though we have seen tokens that promote higher rewards it is fair enough to say that not many of them were legitimate. Their tokenomics were not sustainable and therefore not a lot of them are anymore around.
Anyone can easily replicate a contract and adjust the numbers, but you can’t replicate our vision, ambition, action, our team, and strong community of believers. BabyCake was the first — and remains the best — reflection token in the crypto space.
About $BABYCAKE token, can you explain about the tokenomics and use-cases of this token? how much supply is available? where will the token be allocated?Monk :
From every transaction on the BabyCake network, a total of 15% of $CAKE is taken as tax fees. 7% of every buy/sell is taken and redistributed to all holders in Cake, 3% of every transaction is added to our liquidity pool an extra 1% fee is applied to all sales and the game-changing function. 5% of every transaction is allocated to Marketing in $CAKE (swapped in real-time into $CAKE, which is an innovative game-changing function).
Our mission is to revolutionize DeFi.
Our 2 main goals:
Technology.
We are currently working on our own application that will be so simple even my mother (who knows nothing about cryptos) can benefit from and earn passive income on her smartphone, in 3 clicks. We are still growing in the DeFi ecosystem and we want to allow our investors to earn interest in more than one way. We are also working on our own BabyCake Swap that will be released in September and NFTs are in the works.
Marketing
BabyCake is building a real brand and a franchise to conquer the mainstream market. We want to provide accessibility of DeFi to mainstream.
The supply is 100 Billion, 96 Billion circulating supply as 4 Billion is locked in the development wallet. Team supply is locked and vested for 6 months. Allocation is 5% of supply meaning 5 Billion. Tokens for PCS listing was 95%.
Audits play an important role in project development as well as investors trust. So, has BabyCake been audited?Monk :
Yes. We agree that it is standard in this space to provide security audits to investors. We have been audited by Techrate and Certik.
What are major milestones BabyCake achieved so far and what will happen in near future?Monk :
- Listed on CoinMarketCap and CoinGecko.
- Article published on CMC.
- Initial Liquidity Provided locked with DXLOCK for more than 1 year.
- Team tokens locked and vested with DXLOCK for 5 months minimum.
- +55,000 holders.
— $100M+ market cap reached.
- Number 1 Trending on Dextools
- “Baby Cake” song by Zodeyak launched on Spotify.
- Long- term promotional marketing on BTOK
- Solid team
- Daily marketing (giveaways, “Diamond hands hours”, etc)
- Certik and techrate audit.
- Farm Auction on PCS.
- Dashboard with Auto-Reinvestment Pool
- Rebrand
We are currently working on a new website to fit our new rebranding plans. Our Dashboard will be updated as well along with that. We can expect a BabyCake Swap coming this month. Our app will be demonstrated in Dubai on the DeFi Summit and Crypto Expo event in October. We have been working behind the scenes for some weeks now as well with NFTs.
QUESTIONS TWITTER
Part of BabyCake roadmap are the Dubai (Defi Summit) and Dubai Crypto Expo. So,can you share some idea about this Defi Summit and crypto expo? What is the motivation and purpose of this events? Why do you choose to held your Defi Summit and crypto expo in Dubai? Thank youhttps://twitter.com/mylhe/status/1436960367536533505?s=19
Monk :
Yes, very exciting news for BabyCake in October. One of our goals is for BabyCake to reach the mainstream market. Our app will be demonstrated for the first time at the Defi Summit and Crypto Expo in Dubai.
We want to target users that are not typically familiar with crypto and a digital token as ours where you can easily earn a passive income through our app in 3 clicks. We are thinking beyond the 3–4% of the world population invested in crypto.
You will have a lot of influential people in this space attending the conference in Dubai. We will be able to do a lot of networking that will most definitely be beneficial for the future of BabyCake.
BABY CAKE have 16% transaction fee. Inside, 7% Redistribution in CAKE. Could you please explain why you decided to leave claiming or the CAKE reward to the user instead of a reflexive redistribution that became quite popular lately? How does this benefit the project and the user?https://twitter.com/Lidiamga/status/1436883139834499072?s=19
Monk :
Currently we have a 15% when buying,16% for sell and 1% extra for anti-whale measures.
We chose to give rewards in $CAKE because it is much more stable and worth billions. Investors are truly gaining rewards with us by using $CAKE as reflection.
$CAKE rewards has shown that they are currently the most profitable passive income and we believe in the PCS team and its future.
Giving rewards in the same token, meaning BabyCake, with a drop in price, the BabyCake reflection would have been worth much less. But by using $CAKE as rewards our holders have in the past month managed to double it.
The rewards are distributed automatically OR can be claimed manually.
1. Will babycake step into the NFT and/or gaming world? Maybe stake babycake NFTs, play to earn etc?..2. Is the amount of cake you earn consistent with the levels of buying volume of Babycake?
https://twitter.com/Kingjfitness/status/1436778774310309888?s=19
Monk :
AR gaming isn’t the current priority but are on the roadmap as added utility. What is in the works though are NFTs. As the market changes and so does the trends, BabyCake changes with it. We are working on a truly innovative NFT project with utility. We will start to release hints starting next week.
2. Yes, the CAKE rewards are based on the daily (24 hour) volume and the number of tokens you hold.
Now the market is experiencing ups and downs, to survive many projects are far from the target. What is BabyCake’s strategy to survive in today’s market conditions? What’s the next step to appease your investors? Are there any plans for further partnerships to come?https://twitter.com/HoltBull7s/status/1436980957857255429?s=19
Monk :
Volume is key to us. Our rewards are based on volume. We have a vision and it is to democratize DeFi by accessibility. We want to share our vision with our investors that believe in us since we are a long-term project. We are very flexible, and we move fast. We will have our first mainstream layer product release soon.
One of our main goals as previous mentioned is technology as well besides marketing. We are on the right path and that because the underline value does not come based off how the price action and how the markets moves but it is the technology aspect of it, that is truly important.
But as the market moves, so does our strategies, we reassess with every information that the market responds to the actioned step.
Our focus right now is to conquer the mainstream market and by establishing our partnership with LunaPR and attending the Dubai Crypto Expo conference, we believe this is the right steps taken to reach our vision. To support this, we are as well running ads online on platforms as Facebook and Instagram to support the vision of accessibility to the mainstream.
QUESTIONS TELEGRAM
is the getting more popular now a days. It lis ooks NFT has the bright future. So do you guies have any plan to the include NFT to your project?Monk :
yes, we have been working on NFT this last 2 weeks, and will be release more information soon.
We will innovate while riding the trend of wave of the NFT.
to know more about our NFT, you have to follow our twitter account.
Halo, my cofounder will release more information tomorrow.
What is the most ambitious goal of your project? What is the ultimate vision that Your project is trying to achieve within the cryptocurrencies market? I would appreciate it if you could share with us any Upcoming Updates?Monk :
As mentionned, we will be in dubai, and our goal is to present our app there.
Going mainstream is difficult and requires not just a good product but good marketing channels.
This is our biggest ambition, to bring passive income to whoever wants it, at a 3 click distance.
Does your Project have a marketing strategy to expand on social networks to reach more Investors and your Project community? And how will you handle it? How important is community support for the $your Project project?Monk :
We just started another Facebook and Instagram campaign, to go mainstream we will need to go beyond the crypto currency market. For that we are going to grow through social media marketing.
Ambassadors play a very important role in every project, Do you have an ambassador program? If yes, how can I be one ?Monk :
For the moment, we do not have any. But in the future, we might integrate a referal system in the mobile app, which will reward our ambassadors.
what is the usecase of this project and why people would need this?Monk :
People around the world, will be given the opportunity to invest in babycake very simply, in 3 clicks with their credit card, to get a passive income.
- Telegram Chat : https://t.me/babycakeBSC
- Twitter : https://twitter.com/BabyCakeBSC
- Website : https://babycake.app/index.html
Thank you for trusting Infinity Chain as the organizer of the event today, hopefully everyone can understand about BabyCake.
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