OnlyStables x Crypto Challengers AMA Recap from the 24th of October
Hello, Challengers!
Another AMA took place in Crypto Challengers at our Telegram and we would like to introduce to you the AMA session with our friend from OnlyStables
The AMA session was divided into 3 parts with 10 whitelists!
Part 1 — Introduction questions
Tanmay:
AMA is starting. Chat is closed ❗️
Good day everyone and welcome back to CHALLΞNGΞяS for another wonderful AMA! I hope you’re ready for another great AMA :) Today, we have Apr Master to share us more about ONLYSTABLES 🔥
APR Master:
Hi everyone!
Tanmay:
Hello APR Master, thanks for being here today.
I’m Tanmay from Crypto Challengers and your host for the AMA today!
How are you doing today?
APR Master:
doing great!
Tanmay:
Great. So, without taking anymore time let’s start the AMA.
Are you ready?
APR Master:
yes lets do it
Could you please provide a quick self-introduction for the community?
sure, ive been a crypto native since 2015 but only got involved with eth and smart contract stuff in early 2020. i started off by farming on uniswap in yfi and yam finance, good days!
Tanmay:
Great, you have been in crypto for a long time
Can you briefly introduce the project ONLYSTABLES what are some of the utilities of $OS ? How do you think you stand out among the competitors if there are any?
The usecase of OS centers around the use of the platform, the main one being governance and earning USDT for staking. Staking OS tokens also entitles users to discounts on the fees of the platform. We have ideas for more in the future, but for now we focus on these
Can you share the achievements the team has made so far ? what are the major achievements that ONLYSTABLES is yet to achieve . If possible also share your roadmap.
we havent started yet, but we are one of hte few projects that will have a fully working product and audit at launch!
Could you share a bit about security and also what benefits you provide to incentives users choosing your platform?
We are currently under audit and will have it back by the end of this week. Users will continue to earn USDT rewards as they continue to stake, and won’t have to worry about the rewards they receive dwindling in value if they use our platform
Tanmay:
Let’s hear our last question from this segment.
What’s the total supply of the token? Could you share a detailed tokenomics of mainnet token’s supply distribution
100,000,000 tokens total
our token distribution can be found here
https://onlystables.finance/OnlyStables_PitchDeck.pdf
Part 2: Questions from the Twitter community
I read “ In order to receive USDT rewards, users MUST stake their $OS tokens! “ So, could you tell us how much $OS do we have to stake in order to receive USDT Rewards? What’s the minimum token?
minimum just 1 token to receive governance power and staking rewards!
Tanmay:
That’s great!
$sOS is the governance token which is used for voting, sharing revenue. So, could you tell us how does the voting mechanism works? Could you also tell us about the benefits for holding $sOS token?
Voting works 2 times a month where users can vote yes or no on adding a new pool for the platform to integrate with. Holding sOS tokens allow users to cast a vote. sOS tokens also qualify to earn platform revenue.
I read we can stake $OS. So, what are the staking rewards for staking $OS per day or year? How can we do liquidity mining and what are the rewards for liquidity mining?
Earn up to 0.1% daily for staking, and 3x as much for liquidity mining!
OnlyStables is using the dual-token system and has 2 tokens namely $OS and $SOS. So, What is $SOS and $OS token? On what blockchains are $SOS and $OS tokens built on? What are the use-cases for these tokens and How can I earn these tokens?
Both are ERC20 tokens. sOS tokens are awarded for staking OS tokens, and OS can be bought on the open market. sOS holders receive rewards from the protocol! But they are non-transferrable. Users can only get them from staking OS tokens.
In today’s time the price of the whole token in the market is going down so , how can the token holders of the $SOS token users be safe from this bear Market ?
The point of our platform is to protect farmers from this by using the platform. OS on the other hand benefits from the use of the platform in terms of token appreciation.
Part 3: live questions from the Telegram community
Q1 from @benkhau
I know $SOS will be listed on different in exchanges the future.
Question,
How about $SOS can we buy it also in the market? Or it is just a reward from staking?
Only from staking!
Q2 from @marcofal
How can you provide stable reward? Are you supported by any funds? After the UST, people became afraid.
we simply convert reward token emissions into stablecoins automatically, via smart contracts
Q3 from @john561
Your project focus on stable coins. Will you consider yield farming for non stable assets in the bull market?
yes, open to higher apys and more risk in the bull!
Q4 from @sirdefi
🥇 Does OnlyStables plan to create its own stable currency at some point? If the project is well accepted, would the team consider it?
we will never make our own stablecoin, we know regulations are coming for them! we only want to take advantage and profits while we can
Q5 from @curiosoAMA
✅ Is the OnlyStables team working to find popular partners and collaborators in the Blockchain ecosystem? So far, how many relationships have you been able to build?
we are looking to integrate 4 pools as of now, the rest will be from governance proposals
Tanmay:
5/5
Congratulation to all winners 🥳 Thanks for answering all the questions sir!
It’s time to conclude our AMA. So, before concluding, Do you have anything to share with our community? APR Master?
APR Master:
please join our tg group for more promos and giveaways!
The AMA with OnlyStables is now over!
