The 15th of May, BSC Daily held an AMA with some members of the BiShares team. We were overwhelmed by the attention of everyone tuning into our AMA. The BiShares team definitely felt the love from all of you!
Here’s a full transcript of the conversation. Do give it a good read. It’s peppered with lots of information about all that is happening in BiShares’ pipeline!
BSCdaily
Hello everyone! We are happy to announce our AMA session with BiShares!
Welcome to BSC Daily @BiSharesFinance @DeFiVlad
BiShares
Hello, thank you for having us!
DeFi Vlad (BiShares)
Hey guys
BSCdaily
Hi @DeFiVlad, how is your day?
DeFi Vlad (BiShares)
Great so far. Wonderful Saturday morning with you folks
Coffee and crypto chat. Great way to start the day.
BSCdaily
Awesome! Let’s start our AMA 🔥
We want to know about BiShares as much as possible 👏
First, please give the audience a brief description of what BiShares is @DeFiVlad @BiSharesFinance
BiShares
BiShares is the first BSC Index Funds, so people can buy one token that holds all the underlying assets in the fund. Safe exposure. It gives you peace of mind in a basket of tokens so you can sleep well and diversify and catch multiple moon shots at once.
BSCdaily
So BiShares is the first Index Funds on Binance Smart Chain. Do you have any competitors at the moment?
DeFi Vlad (BiShares)
Not at this time, BiShares is the first to explore this side of BSC. An actual project outside the meme coin culture that is going around right now.
BiShares
We are the first professionally placed fund with real value and a solid team.
BSCdaily
Amazing, you guys are the pioneers in this field on #BSC. Also, could you tell us a little bit about yourself and your team? What are your past experiences?
BiShares
We are a group of blockchain veterans from other projects who saw a need to have a product like this on the Binance chain. As we built our team, we asked @defivlad to join us on the technical side. Most devs on the team are superstars. When Solidity started auditing our contracts, they have never seen such code like the one we submitted.
BSCdaily
Wow, it seems like you got an ALL-STAR team 🤩
DeFi Vlad (BiShares)
Impressive code I will say.
BSCdaily
How did you guys get involved in crypto?
DeFi Vlad (BiShares)
I think most people tuning in know my story from VLAD.
BiShares
One of the main devs has been around since 2011. Most have been here since the beginning.
DeFi Vlad (BiShares)
I have been around the industry for a long time.
BSCdaily
Each project has interesting stories before it is created. Can you tell people about the story that gave you the motivation to build and develop BiShares?
BiShares
Crypto doesn’t sleep. It’s not easy. It takes a lot of blood, sweat and tears, especially in downtimes. Lately, there have been many moon shots and rug pulls. We built this product so people can absorb these opportunities and avoid these pitfalls while sleeping tight. How many times have you gone to bed and said, “I’ll buy that tomorrow” and you wake up, and it’s 100x? With our product, you can diversify across all funds, especially the FOMO fund, where we pick the best micro caps and solid new projects. We have just finished adding another FOMO fund giant that has not been released yet until right now. We are adding Wall Street Bets!! They have launched their dapp token, and we are adding them today.
BSCdaily
Is there a native token for BiShares’ platform? How can people invest in BiShares?
DeFi Vlad (BiShares)
We are still developing the DAO and its native token. It will be released at a later date. The first product to launch will be the BSC TOP 10 fund featuring the most popular projects on the Binance Chain. These will be mintable on the website after it passes the audit and gets the green light. Unlike most speculative tokens, an index fund gets minted as users deposit underlying assets.
BSCdaily
Speaking of audits, I would like to know a little more about the security of BiShares. Are you currently working with any auditing firm at the moment?
DeFi Vlad (BiShares)
Yes. I am personally working with Solidity and Gordian on the audit of the initial funds and infrastructure. Once the DAO is complete, we have Certik lined up for a 3rd audit of the whole ecosystem.
BSCdaily
With such big names in the pipeline, I’m convinced the platform will achieve the highest level of security and safety possible 😍
BiShares
Correct. We are taking all the necessary precautions. We take the security seriously as we expect these funds TVL to grow exponentially.
BSCdaily
Btw, would you mind sharing your roadmap with us? We are excited to see what the future holds for BiShares 🥳
BiShares
First, we will launch the initial funds and following that, we will release the DAO token. Along with that will come liquidity farming and more funds. We plan to be very active in adding new funds to keep up with the market. Our first funds can be seen here: https://bishares.finance/funds
BSCdaily
Even an Elon’s fund!? 😂 This is likely to be one of your most popular funds 😄
BiShares
Yes, we feel that Elon still has a lot of pull in crypto, and people will bet on Elon. No one in crypto will have the funds that we can provide with speed and security, and professional branding and dev team.
DeFi Vlad (BiShares)
I think so too. If you look at the performance of those tokens, it’s actually an easy fund to get into. And think of the memes!
BSCdaily
Okay, last question from this part. Where can we find out more about BiShares? Please share with us all the links to your social handles.
BiShares
Bishares.finance
Telegram: https://t.me/bishares
Twitter: https://twitter.com/BiSharesFinance
https://bi-shares.medium.com/introduction-to-bishares-cdad40c24427
Discord soon!
BSCdaily
We will wait for it 😍
That’s the end of the 1st segment
Thanks a lot for answering questions from the host @BiSharesFinance and @DeFiVlad 🔥 I guess our members are all excited to know more about BiShares now so let’s move to our final segment. In this segment, the chat will be opened, and you guys may send questions related to BiShares. Our speaker will choose the best ten questions to answer, and those with the best questions will share $100 BUSD!
Question 1 from bang lang:
What is the project’s revenue model? In which ways do you generate revenue/profit?
DeFi Vlad (BiShares)
There is a small deposit fee to ensure the long term development of the project.
Question 2 from Alice Hola:
Good day @BiSharesFinance and @DeFiVlad Almost 80% investors have just focused on price of token in short term instead of understanding the real value of the project. Can you tell us on motivations and benefits for investors to hold your token in long term?
BiShares
Alice, great question. You seem like an astute crypto degen that demands quality. BiShares is an index fund focused on diversity and safety. We try to mitigate rull pulls by doing pre-audits of tokens entering our funds. People will be attracted to our funds as well to be spread across more opportunity instead of buying 1–5 tokens at random. We also pre-select token companies with a sound business, team, and they have to show us progress on a monthly basis in order to remain in the fund.
Question 3 from kalimia:
Do you have any plans to attract non-crypto investors to your project? Because it is the success of a project to get more investors who are still not in the crypto world. What are the plans to increase awareness around you in non-crypto space?
DeFi Vlad (BiShares)
I think this is one of the interesting aspects of this project. It let’s new retail based market safely invest in a bigger sector rather than trying to find one token that will moon. Stay exposed to the whole Binance ecosystem.
Question 4 from LA SAKA:
I want to have a LONG TERM INVESTMENT with this PROJECT, but I’m in doubts right now. How can you convince and assure me this project is SAFE and PROFITABLE?
BiShares
Great question. Our funds will be audited by the best firms in crypto (Gordian, Solidity, Certik) all code will be public. These funds are designed to catch moon shots, as well as broad market moves. Diversification is key moving into the bull run.
Question 5 from Ok ok ok:
Yield farming is a new trend so do you have any plan to yield farming system development?
DeFi Vlad (BiShares)
Once the DAO is ready we will release some liquidity mining to make sure the fund token itself can be traded also.
Question 6 from Panlen:
NFT is very hot trend now, do you pretend to catch up with this trend or still follow and focus your original roadmap? create values, not create TREND !
BiShares
Yes. We have an NFT fund.
Question 7 from Diva CEO:
I am a professional vulnerability finder on the web. Do you think your system is secure enough from hackers? Does your project have a program that rewards individual vulnerability detection of the system?
DeFi Vlad (BiShares)
You or any bounty hunter can DM, and I will for sure reward for any bugs in @BiSharesFinance or any other code I have helped with
Question 8 from Anna:
Collaboration and partnerships are one of the cornerstones to making DeFi more widespread. Can you share some of the partnerships you have formed with existing blockchain foundations recently??
BiShares
Anna, we are new but making strides in the community. We have added a few projects already to some of the funds we already have. Some are newer, and some are not. So we are diversifying widespread opportunities so community token holders can benefit from the rise in prices across a wider spectrum instead of narrow. Don’t put your eggs all in one token — most people do and get REKT. We are educating people to diversify.
Question 9 from J Dolly:
Token burn is important for investors. Do you have any plan to burn or buyback?
DeFi Vlad (BiShares)
No. That is not a mechanic that would be useful to this project.
Question 10 from Ma:
DeFi is the new frontier and already buzzing in 2021. What roles do you play in the innovativeness of DeFi and what’s your approach to DeFi and ultimate DeFi solutions?
BiShares
We are trailblazing BSC DeFi right now with this offering. No one has done what we are doing. So we are building the first BSC index funds with professionalism, security and community.
BSCdaily
That makes it ten winners 🥳 With this, we are now at the end of our AMA session with BiShares 🔥Time for wrapping up. Any last words you would like to say to our community? @BiSharesFinance @DeFiVlad
BiShares
Thank you for joining us in this journey to make BSC more professional and safer. We look forward to growing our TG discord and twitters groups so we can make BSC a better place. If there are any questions, please join us in our TG group (https://t.me/bishares)
BSCdaily
It was a pleasure having you @BiSharesFinance and @DeFiVlad ❤️ Thank you so much for spending time with our community & all the very best for BiShares 🚀
DeFi Vlad (BiShares)
Thanks guys
