Crypto Clash presents: AMA Session with Grogu Finance — September 7th, 2021
Could you describe to us about your project “ Grogu Finance “. What is your project about and how can we see it in action?
Annabelle: The core goal is Grogu is different from what it would seem as a “meme coin”: Tired of all the thefts, not just DeFi but in my case all the way back to Mt. Gox, I wrote a mutlisignature token that is impervious to hacks/flashloans/etc. It also contains voting/goverance in the core token. So it’s a super-cool Meme than we all love (and the team is up to seven people now) and are enthusiastic about making NFT games for, but the focus is:
1) Community security
2) Community direction going forward after the token is launched
What problems did you see in our current lifestyles, and how can Grogu Finance solve them?
Annabelle: Obviously, the lack of ethics in DeFi. It seems to have brought out both the worst people, and the worst in people. So we’re incorporated in a first-world country where there is easy recourse if Grogu “rugs”, futher we’re not “doxxed” in some esoteric telegram group, my KYC verification is available on the homepage, and anyone is free to “connect” with me. So we’re solving that by, well — I’m pretty animated over the lack of ethics in DeFi so I’ll try and be polite — by being honest. The core team has put a lot of time and effort into making a trustworthy community, an unhackable token, DEX and ecosystem.
What are the Main Features that distinguish Grogu Finance from its competitors?
Annabelle: It’s unruggable (multisignature) and unhackable (anti-hack and anti-contracts code).
Once the concept and how to do it came to me, it was surprisingly simple to implement…
Plus, well, BabyYoda rules! I wanted to do Fennec Shand since she’s the best bounty hunter character ever, but got over-ruled. So we’ll be expanding the gaming/website/yield aggregators to all the non-copyrighted characters 😊
What is the role of the token in your ecosystem? Could you tell us a bit about the tokenomics of your project?
Annabelle: The tokenomics are zero-dev-issuance, “fair launch” and 100% of the pre-sale is going to establish the liquidity pool. Initially, that will be on Pancakeswap because everyone expects it, and we can’t list on coinmarketcap and coingecko starting with our own DEX. And I should be clear here — PCS is a clone of Uniswap. Uniswap coded in flash loans as a feature, it’s not a flaw or a “hack” to them. I think “front-running” and “arbitrage” — trying to pull money from other people by doing no work product beyond the grub for money — is unethical.
So Grogu’s “Tokenomics” really boil down to: Stop the asset draining, leave the funds with the users. I mean, the rich are already rich, let them invest and earn like everyone else. So there’s “antiWhale” code to prevent large trades.
There’s also a “charity rate”, initially set at zero, that goes to a multisig wallet, so the community can vote to give a percentage of every transaction to a community-selected charity.
Can you please provide some progress on your Roadmap and what results Grogu Finance has achieved so far? And any sneak peek into 2021 plans for Grogu Finance?
Annabelle: We already had several games on Google Play, so are ahead of the schedule on that. There was some mix-up on Google’s end when they went to a new format — from APK to AAB — so those are held. But we’re pretty far ahead of schedule. Which is nice.
The only thing that’s not done for Q3 is the airdrop, which is scheduled to start distributing at the end of September. A lot of people didn’t complete the tasks required, so Dan is having to go through it manually to make sure the ones who really helped us get the airdrop. Didn’t see that coming (cheating the airdrop bot by faking results), but probably should have.
1). Data protection is the foundation of #Grogu, can you explain in simple terms how does the #Grogu Ecosystem work?
Annabelle: A community-controlled secure ecosystem is the true goal of Grogu — the games and the Meme coin are a fun side effect. This answer is long, bear with me here.
In about 13 lines of code, I’ve completely stopped the ability of flash-loan attacks and all contract-based attacks.
This is a HUGE step forward — every DeFi project, by design, is vulnerable to these attacks, and I find it extremely irresponsible.
Meaning: If you’re invested in a BSC/ETH/Polygon/Other project and liquidity hasn’t been drained, it just means hackers haven’t gotten around to it yet — likely there’s not enough value relative to other projects to make it a target. This is called “security through obscurity” and is no real security at all.
Second, Grogu has the first-of-it’s-kind multisignature control. Only about 120 lines of code, and all critical functions that have let previous devs steal require permission from a community signer to execute. The idea here is the community elects a trusted member to oversee and approve all operations, and the community as a whole has zero interest in letting the project be “rugged”.
To address “slow rugs” we’ve devised a pretty standard encrypted key distribution. For instance, I encrypt the dev key, give the file to Decentramark Dan, and give password to another trusted person whom Dan doesn’t know, and that person doesn’t know Dan is the file holder. A third person — likely our law firm — has instructions on when to reveal who holds what, and how to contact each other.
If something happens to me, the community will be aware and come together to vote for a new developer and that the file/password holders come forward to reveal the key.
This should be the way all projects involving your money should run. As for why they’re not? Some people are just evil, but for the honest projects, well, everything is obvious in hindsight, it’s like being friends with the guy who invented the wheel. You’re like “duh, I could’ve done that!”
But you didn’t, did you? Because it’s not that obvious until someone figures it out.
2). During the 2020 I got scammed a few times, rugs, exit scams etc. — how can we investors be sure that this will not be similar, are your contracts public & somewhere to be seen?
Annabelle: First, see: https://grogu.finance/ We are not “doxxed” by some random group, my full KYC information is listed on our homepage. But @everyone here feel free to send me a https://linkedin.com “connect”, I’ll accept all: https://www.linkedin.com/in/annabelle-jane-harriman-39981093/
Second, we are firmly open-source, everything published — to the point of asking some unethical projects NOT to use our ecosystem. We will have bounties for “hack-a-thons” and github pull requests.
Meaning, I’ve seen so many projects say they’re “doxxed” by giving a TG group their handle, and it’s not the same as KYC. That’s my actual identity and it’s public for all.
Annabelle: We score “Security Gold” on our audit: https://coinscope.co/coin/babyyoda
You’ll note we’re incorporated in the first-world and Coinscope has a copy of our corporate documents, including our national Tax ID and registration number. They will disclose if something happens. I incorporated to buy into the Eth-Suisse sale in 2016, so it’s a long-standing crypto company with assets behind it.
In my opinion: NEVER TRUST ANONYMOUS TEAMS REGISTERED IN OBSCURE COUNTRIES!
4). I am a crypto investor, tell me the reason why I should choose #GroguFinance token over the existing one? What is the advantage that can convince me to change from my favorite token?
Annabelle: I love the honesty of this question 🙂 See answer #1 and #2 — given that Grogu is the first to do community multisig control and the first to reject hacks/flash-loans, that means your current favorite project didn’t have the foresight we did.
To which I’d add, Voting and Governance are built into the grogu token — if you’re a “HODLer” you will decide the direction of Grogu. Sure, we want to develop elaborate games based around NFTs (and not ads or credit cards) and only allow “farms” that yield BabyYoda against staked pairs of large-cap/stablecoins, but YOU can vote to change the direction of this project. We’re here to learn from, and listen to, our community and what they like and want.
As I mentioned above in the intro: Grogu is about setting up the secured platform to be “unruggable” and with multi-level dev/multisig key distribution. It’ll be up the community to drive the direction of the Meme coin, games, farms, anything you want, I can code, and do it securely. You all just have to decide….
5). The availability of sufficient funds is the most important factor in the development of a project. Is your group financially capable of completing this project? Do you have sufficient funds to develop it? Can you explain how the project generates profits?
Annabelle: First, this project is self-funded. I am “2–0” on taking companies from inception through success, all without raising capital. Hence this project is self-funded and 100% of the “pre sale” is going to liquidity pool formation.
An important distinction here: I don’t believe in the “serial entrepreneur” mantra of just throwing out ideas (that aren’t really viable or well-thought-out) to raise capital AND THEN try and make a company. Hard work and our own money first, then launch.
As for the capitalization, I was already retired and in Southern California before bitcoin started. So I was on The Well (the first BBS I think?), a co-worker was a huge “Cypherpunks” (where bitcoin was hashed out based on the BitGold idea) list member and advocate, I already had the unix cluster computing knowledge and I kept all the very, very expensive compute hardware when my first company sold. So I started mining bitcoin in the days when CPUs were viable. Then with GPUs, then retired them for ASICs (a mistake!). When Eth announced, I incorporated to buy in, un-retired the BTC gpu miners and started mining ETH. So that’s where the funds come from.
It’s also what started the underlying “unruggable token 2.0” project: I lost substantial sums in the Mt. Gox hack. Then a lot of ethereum in the cryptopia hack. The lack of ethics in DeFi angered me more, so I wrote the token, and we’re all here now, trying to do better…
As for profits, the idea is to launch the secured token, and the team gets a percentage of profits of high-cap yield aggregation (so BabyYoda is minted off BNB/BUSD liquidity pairs, and we get 3% or whatever is voted on) and the gaming system will sell NFTs, of which we’ll get a large percentage of revenues — possibly all.
1). Do you have Whitepaper if yes please share it with us and secondly do you have plans for pre-sale? Where can we join it?
Bethany: Our whitepaper is located here: https://grogu.finance/paper-white-this-is/. Since we are based off of the ADMIRE model, the more detailed info is located in the ADMIRE whitepaper here: https://admire.dev/whitepaper/
The presale will be on September 20th. Stay tuned in our channel for updates.
2). I’m still new to crypto, how do you make your project easy for anyone? Including those who don’t understand crypto will also use Your project?
Dan: I think this is an important question as lots of people are now FOMOing into Crypto with an unawareness of the DeFi dangers. The most important thing is to always DYOR. With Grogu the information presented here today should inspire confidence that some good projects exist and when you find one invest, hang on to your tokens, trust the code and watch your investment grow.
3). Can you tell us some of the marketing strategy that your platform engage to attract more investors & users? As an investor,why would rather choose to invest with token? How can we trust your platform since it is new?
Dan: Probably apt I cover this. Our network is made up of lots of influential contacts with a wide reach. Plans to grow the channel and project are underway and we’re widening our scope to the more ‘traditional’ crypto tabloids. Yahoo finance and other popular mediums are also being planned. When you reach enough people and the project progresses it’ll sell itself
4). Covid-19 has a bad impact in almost every sector. So, as a crypto projects how did it affect you? How you and your team have done the work in the pandemic?
Bethany: Annabelle and myself live together so the majority of work is done in our home office. Covid has been tough with school schedules and kid schedules but now that things are a little more open we have had time to work more without interruptions. Our team is spread out all over the world so we use telegram to make plans as to who does what and it has been working quite well. The downfall of Covid overall is the availability of funds for potential investors so our goal is to make the best project we can in order to give people the confidence to invest in us.
Dan: Further context I think as COVID has made funds harder to come by. Grogu code also offers a good level of confidence that those with the least won’t lose anymore. Not an answer to a question but something pertinent given the global situation.
5). Do the token holders have right to participate in the governance of the project? On what kind of decisions can they vote on about the project?
Bethany: Voting is a straight one-coin, one-vote and the total percentages are tabulated. So everyone has a say based on their holdings. There is zero dev team issuance so we aren’t holding 51% to outvote everyone. The main decision will be the charity rate. The plan for this token when first created was the charity aspect. A lot of our lives have revolved around charity and volunteer work so we would like to continue that with Grogu and help those in need. And for that, the community will participate in the vote as the amount, recipients, etc.
Thank you so much for spending time with our community & all the very best for “Grogu Finance”
You can ask more questions by joining Grogu Finance Telegram Group @grogu_finance