Thank you to the Infinity Chain Club for participating in Ask Me Anything (AMA) with Fire Bank on December 5, 2020. This guest star,

Code Red — Project CEO

Here’s our 19th AMA recap!

Code Red — Project CEO

Introduction

DeFi Presaler Promoter,
Hello, in behalf of Team Firebank, i will represent the Project Firebank.

Ive been in crypto since 2017, studying and learning about blockchain.

And now here i am, exploring in DeFi space and we come up with a good project concept.
The project Firebank.

Q1. Starting with the most basic questions, can you decribe what is FireBank in a few words that are easily understood by our Community?

DeFi Presaler Promoter,
Firebank is a simplified version of deflation yield farming with TWIST!

DeFi staking LP token mechanisms that can “level up the pool” with the help of NFT as booster.

Q2. What sets Fire Bank apart from other project that makes it stand ahead? what is unique about Fire Bank? Where can buy FRK?

DeFi Presaler Promoter,
Firebank FRK is a yield farming project where NFT is used as booster.

Firebank being unique is we used low supply token with burning functions. It lowers it supply leaving more ETH in the pool.

The role of NFT is to boost the APY in staking.

Rewards of staking will be:
1. wETH
2. ETH-FRK shares
3. FRK-RRY shares

Firebank FRK is live in Uniswap and Balancer. Link to buy and its full info.
https://t.me/FireBankChannel/68

Q3. Can you explain about the tokenomics and use-cases of FRK token? how much supply is available?

DeFi Presaler Promoter,
Total supply left of FRK is 2920.

3 big holders that shows in etherscan were liquidity, staking pool and staking reserves that were locked in smart contract.

Main wallet have 127 FRK left as per v1 tokenomics.

Its a yield farming in deflation. NFT is added.

FRK and RRY are the token deflationary assets with burning functions.

Its a yield farming project from Movie Adaptation: Money Heist

Q4. Can you explain Staking from Fire Bank? How do we join it? how profitable for investors?

DeFi Presaler Promoter,
Here’s our etherscan info. 3 big holders were liquidity, staking pool and reserve. You can see the rewards available in staking.

https://etherscan.io/token/0x6A66cEFb828AFb3e2De8e87855fF4896BdcE8264

Staking is officially live!

Please follow these steps, useful links are provided.

1. Buy FRK
2. Add ETH and FRK in Uniswap
3. Get the contract address of your UNI-V2
4. Stake it to Balancer — Click add liquidity and activate. Choose single asset, click the box and scroll down. Click add liquidity.
5. Earn the rewards in the pool — NFT is added for booster

Rewards are:
1. ETH
2. FRK — swap it to ETH
3. RRY — swap it to FRK and then swap it to ETH

Links to buy FRK and Staking
https://t.me/FireBankChannel/68

Please ask assistance from admin or you can do it also by yourself.
@Firebankfinance

© Firebank Project

Q5. And last question. let’s discuss about Fire Bank roadmap. What are your plans for this month or before the end of this year? And What is Fire Bank target for next year that you want to achieve?

DeFi Presaler Promoter,
Weve finished stage 2 as per roadmap in Q4 2020. We applied in coingecko now.

Currently, FRK is listed in Uniswap and Balancer.

In 2021, there will be improvement of staking tiers. And new roadmap.

TWITTER QUESTIONS

Q1. Firebank Finance is a simplified “deflation yield farming” with NFT feature — “Rob a bank scheme” through staking.

How huge is this ROI for it to be tagged Rob a bank scheme?would it be in perpetuity?

DeFi Presaler Promoter,
Since its a yield farming in deflation, it really depends in trades and network fees.

Uniswap gives APY: 38%-75%
Balancer gives APY: 140%

We limit it to 200% APY but sometimes it will go up to 800% if we have heavy and plenty of trades.
NFT will be swapped to FRK not in ETH.
RRY to FRK then you can swap it to ETH.

Q2. Looking at the post on twitter, you lock around 990 $ FRK tokens on a smart contract which we know smart contracts are vulnerable to bugs and viruses, how can Fire Bank protect it? then how efficient and secure is the Fire Bank smart contract?

DeFi Presaler Promoter,
Yes, that is the FRK reserve fund which is locked in a pool.
FRK contract source code is verified, its working and got only minimal risk. It is compatible in any platforms that offers usability in terms of storing and staking.

The contract got no abuse, no hack exploit and very safe to hold on.
You are the one protecting your assets through holding and storing it to your wallet.

In staking and trading.
We use Uniswap and Balancer. Very safe platform.

Q3. “FRK” listed on Uniswap but the trading volume and liquidity is too low. What is the plan to ensure sufficient liquidity on exchanges to fill market orders, especially as adoption increases and clients begin multiplying year-over-year for your project ??

DeFi Presaler Promoter,
We keep sharing Firebank FRK in terms in shilling, conducting AMA, /biz/ posts, and promotional posts.

First, we ensure that liquidity is locked, the staking pool is working and the reserves are safe. That will leave FRK in steady in a long period of time.

Since the staking pool is working, existing investors will decide if they want to hold it longer or to sell it. We cant do more about that. But we ensure, its a good gamble since weve got 25 holders only.

This photo sent by our first stakeholders, actually we have 3. The earnings shows in balance.

Q4. — Does Fire Bank operate as a Store of Value? Can you explain the deflationary mechanism of this project? Are my tokens going to be burnt while there are in my wallet?

DeFi Presaler Promoter,
Firebank FRK is a deflationary token. When FRK is purchased, sold or move to another wallet. 1% of its transactional value is permanently lost and cannnot be recover.

If you just hold it in your wallet, it will not burn.

In staking pool, the FRK-ETH shares will level up, if FRK is burned, ETH will replenish it so it will balance proportionally.

This 1 pager shows how your FRK burn.

Q5. What role does the community play in the Fire Bank? What have you done and will do to attract people to join Fire Bank and build a thriving community?

DeFi Presaler Promoter,
Firebank FRK support DeFi, we used widely common DeFi platforms like Uniswap, Balancer, Unicrypt and Bounce pool.

Weve conducted AMA in Indonesian and Veitnamese community to tell the words of our project.

Weve already accomplished stage 2 as per roadmap, so Firebank will steady in a long period of time.

TELEGRAM QUESTIONS

Q1. @resa46

Do you guarantee investors or people related to Crypto, that there is no fraud or your security is guaranteed, what security system is implemented on your platform?

DeFi Presaler Promoter,
Yes, 100% guarantee.

Contract is verified.
No mint
No hack
No abuse

We used widely common platforms in DeFi space
Uniswap
Balancer
Bounce
Unicrypt

Which is very safe, the decision is yours, permissionless and censorship. Your assets will not be lost.

Q2. @jobel4

Aside from Uniswap, which other Exchanges we can buy $FRK token? What is the benefit of holding $FRK for a long time?

DeFi Presaler Promoter,
FRK is live in Uniswap, and also in Balancer.

You can swap and exchange their.

As per staking rules. You must first add liquidity in uniswap then add liquidity using your UNI-V2 in Balancer.

And thats it, you will earn FRK, RRY and ETH in a long period of time.

You can unstake it anytime. its a yield farming in deflation where NFT is booster.

Q3. Sorryna Anyrros

Do you have any Coin Burn / BuyBack systems or any $Token Burn plans to increase the value of Token & attract Investors to invest?

DeFi Presaler Promoter,
Hello, our asset FRK and RRY are both deflationary.

FRK got 1% burn rate
RRY got 2% burn rate

When purchasing, sold and move these assets to another wallet. These assets burns.

Leading to scarcity of supply, which making the pool got more ETH than tokens.

FrK is early, few holders and staking v1 is officially live!

Q4. @starshades007

Each project has interesting stories before it is created. So can you tell people about the story that gave you the motivation to build and develop a great project like yours?

DeFi Presaler Promoter,
Yes, we focus on.

Fire — assets burns on every transactions.

Bank — store of assets, wallet, pool and staking pool.

NFT — Roberry token

Movie adaptation “Money Heist”
https://youtu.be/gbveKiOCTZw

Then the project concept follows. Yield farming with a difference.

Q5. @jakibul

You said that Fire Bank support deflationary yield farming system. Can you explain please what is deflationary farming & How it is works?
Is deflationary farming is better than existing farming protocol?

DeFi Presaler Promoter,
Yes, its a deflation yield farming.

We come up to a concept of staking but in yield farming. Through trades and ratio per pools, we use Balancer exchange as balancer depends on weights per pools to get rewards.

Everytime someone making such transactions in Uniswap and Balancer, they will automatically trade, which balancing the pool. Its like the staking pools standing in plank and they shares each other so they will not plank out.

It is to force constant trades which generates more fees, ineterests and earnings.

Buy frk
Add liquidity in Uniswap
Add liquidity in Balancer

And thats it.

Thank you for trusting Infinity Chain Club as the organizer of the event today, hopefully everyone can understand about Fire Bank.

Join our Telegram Group and you can talk directly with other Communities and enjoy some of the events that we created. We are always here to support.

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