Crypto Horses present: AMA Session with Grogu Finance
September 9th, 2021
Could you please provide a quick self-introduction for the community?
Annabelle: Grogu.Finance and the BabyYoda token were really a side-effect of developing a secure, multisignature project. So born out of DeFi theft fatigue — we just got tired of all the dishonesty and came up with a better way. So the multisignature community-controlled “unruggable” token was developed, as well as anti-hack/anti-flash-loan code, and we thought it’d be fun to start first with our shared love of BabyYoda.
I love SciFi movies/TV, anything really and Baby Yoda was the only thing we could all watch as a whole family (4- and 6-year-old kids), and seeing Disney left it without a trademark, we took up the cause.
Can you briefly introduce the project Grogu Finance & some of the utilities? How do you think you stand out among the competitors if there are any?
Annabelle: Keeping in mind we love BabyYoda but the “it’s a side effect of a secure project” We stand out from all others by definition, since Grogu.Finance is the first community multisignature-controlled token. We aren’t “hackable” and flash loans don’t work to drain liquidity. So that’s unique, and is really the basis/most unique feature of our project. @Danj316 heads marketing, anything to add?
Dan: It’s the single most important USP of this project from a community perspective. Understanding that your investment can’t be ‘rugged’ by irresponsible developers or projects with only the intention of building tokens and contracts to drain liquidity instantly or slowly makes this a project that’s well, really easy to market. It’s entirely in the hands of the community.
Can you share the achievement Grogu.Finance has made so far? What are the major achievement targets Grogu.Finance is yet to achieve? If possible also share your roadmap.
Annabelle: First and foremost would be scoring “Security Gold” on the main contract audit. It’s 3,000 lines of code, most of it original, and was a lot of work to, well, “get right” as it were…
We are ahead of schedule on all aspects of our roadmap, including game developments, website deployment and accumulating over 15,000 people interested in the airdrop. We are behind schedule on weeding through who actually completed the required airdrop tasks, as we didn’t anticipate people pasting in fake answers/non-existent tweets.
So all in all we’re on track. In hindsight, if we could do the telegram airdrops over we’d need to program a way to better verify the tasks were completed, and we probably should’ve anticipated that a percent of people would try and “game” the system. Now @Danj316 is having to go through the list manually, which is less than ideal!
Bethany: Our roadmap is listed at https://grogu.finance/#roadmap, dividing into quarters through the beginning of 2022.
Dan: Progress to date has been unreal in terms of engagement. Community is growing circa 30k members, Twitter nearing 20k and we’ll continue to drive the project forward to hit key milestones.
Could you share a bit about security and also what benefits you to incentivize user’s choosing Grogu.Finance platform?
Annabelle: We are a first-world-incorporated business — our auditors retain a copy of our incorporation papers, national tax ID/registration number and the corporate law firm contacts. Our lead dev (me) is KYC verified and easily verifiable: https://www.linkedin.com/in/annabelle-jane-harriman-39981093/
Bethany (@GroguLeadIAm) will verify with business partners. She’s American, has kids, and in America it’s trivially easy to spend 20 seconds looking up someone’s home address. So she’s not “hiding”, just cautious.
But really the security is going to be based around the community building trust with each other and electing a trusted member. The idea is investors/HODLers have zero interest in losing all their money, and so no incentive to elect someone dishonest.
The community multisig role is the most powerful one in our system. While only the developers can deploy contracts and changes, it’s the community manager who decides if they are implemented or not.
The incentive to join? We offer no gimmicks, discounts, discounted pre-sales, nothing. There’s no dev issuance, all the community moderators are volunteering their time against future compensation. The only incentive is to invest early, vote in the community on every proposal, and help the company grow exponentially over the long-term.
Bethany: We wanted this to be fun because Baby Yoda is awesome! The kids like simple games so I started by creating things for them and have been building on it for the community. DONE
Where can we find out more about Grogu.Finance? Can you share us all your social media links?
Main website and our blog (we’re not yet active on Medium): https://grogu.finance/
The underlying ecosystem is ADMIRE Content Coin, there’s a very detailed whitepaper: https://admire.dev/whitepaper/
Can you List 1-3 Killer features of your PROJECT that makes it ahead of Competitors? What are the competitive advantages your platform has that you feel most confident about?
Annabelle: First, there were soooo many! Some really intelligent questions, it was nice to see so much interaction and sorry to those whose questions weren’t selected. To answer…
A). Grogu.Finance is the first-of-its-kind community-controlled multisignature token. No one person can effect changes, the devs must submit proposed changes to the community, who must give permission to implement. This makes Grogu UNRUGGABLE.
B). Grogu.Finance, in about 12 lines of very elegant code, is also the first token designed from the ground up to be impervious to contract-based hacks and will reject all flash-loan liquidity drains.
C). We are KYC-verified (not “doxxed” by allegedly giving our name to some random Telegram group) and incorporated in a first-world, highly regulated country. Thus, we have a required law firm on retainer — in case something happens to the dev team, the development wallet key is stored with our attorneys with clear instructions on when to reveal. The community key is also stored. This means: No “slow rugs”, and the community can take over the project if needs be.
Yes, there’s the recurring theme of security and community controlled in all our answers. After Mt. Gox, Cryptopia, DeFi “rugs”, I just got sick of it all. Crypto seems to have brought out both the worst people, and the worst in developers. Wanted to do something about it….
Almost three-quarters of investors are solely concerned with the price of the token in the short term, rather than the project’s true value and future potential. Could you elaborate on the incentives and advantages for long-term investors to hold your token?
Annabelle: In developing a secured token and ecosystem, all we’re ever really asked is: “When mooning”, and that’s just a road to losing money for the 99% of “average” investors who tend to only hear about a project after inception and the “whales” have been notified via automated bot at the beginning of liquidity pool trading.
To prevent our HODLers from being abused by the rich — who, again, use “mooning” as a tactic to lure and take money from the average investor — we have “antiWhale” maximum per-trade limits on our token, with a “cooldown” waiting period (initially only three minutes) between trades. Both are programmable and designed to protect the average investor. Yes, huge investors can thwart this system by registering hundreds of address and using those to buy a lot of Grogu and manipulate the system, but if our automated blockchain tracking sees such abuse, we have “address blacklist” controls to halt trading on individual accounts that we or the community feel are abusing the price and token.
More than than, this is a long-term, viable company. We have no intention to “pump” or use our token controls to artificially “burn” and/or mint large sums to manipule the price — all those controls are wrapped under community multisig authority so we couldn’t even if we wanted to.
I just don’t think trying to find “moonshots” is a viable economic plan, I’ve seen so many people lose money, so I love this question and I also really hate it — whenever I mention the “we’re building a long-term, rapid-growth, sustainable company with no intention of letting whale’s ‘moon’ the token”, 90% of people seem to tune out and move on…
Currently, most projects and platforms are in English. How will Grogu reach non-English local communities? Do you have any plan for them to better understand your project?
Annabelle: We are an open-minded and inclusive project — from the two founders through everyone working here, we choose to revel in diversity — not chafe against it as so many unfortunately do — and look forward to learning from, and interacting with disparate cultures.
The unfortunately reality is we are *extremely* busy and aren’t progressing well into expanding into these non-English-speaking cultures.
We have support in several languages already, and have promoted in some foreign-language telegram groups, but this is an area where we are actively seeking community help and are open to suggestions. As two examples, crypto is huge in Korea and Japan, but we don’t speak the languages, are unfamiliar with the crypto culture or even what are media outlets.
So in this area, on a scale of one-to-ten, we’d probably score only a “3”, and only that high because of our inclusive mindset. It’s a known issue…
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?
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 based on its ethics, security and community assurance
As a community member of Grogu.Finance Will my opinions on token governance be considered?
Bethany: Voting is built in to the core BabyYoda token — it’s an openzeppelin library based on Compound.Finance’s work. Grogu is one coin, one vote, and the direction of the project will be led by what the community wants. Further, there is no dev issuance so we don’t hold any percent and can’t just outvote everyone. Second, the community will elect the multisig key-holder. This is vital! And everyone should vote — if you’re only going to vote occasionally in this project, that is the poll you should participate in.
So many projects just like to speak about the “long term vision and mission” but what are your short term objectives? What are you focusing on right now?
Annabelle: Our short-term projects are a combination of highly technical and main-stream media marketing — releasing the coin in a way that the factory-autogenerated contracts that run the DEX have the authorization to communicate back to the main token that they’re now available, and can be trusted. Additionally, all of our auto-deployed contracts (like creating a new BNB/BabyYoda pair on pancakeswap, that’s an auto-generated contract) will be deployed to pre-computed addresses for consistency across chains. We have a ton of marketing plans in the works, and are working with major, mainstream media outlets to begin coverage of our security features.
Do you have AUDIT credentials or are you working to AUDIT your project, to make it more secure and reliable?
Annabelle: Good question, as we forgot to put the link to our audit above: https://www.coinscope.co/coin/babyyoda DYOR! DYOR! Anyone interested in any project should read through the full audit. In ours, the multisig functionality is covered in depth, and it was a comprehensive audit covering all aspects of the project. Coinscope is who holds our incorporation papers too, and they clearly have an auditor with a lot of general-computing as well as solidity experience. It was a pleasure working with them…
Can you give us an overview of Project economics? Is the token designed to rise and fall with the success of the platform, and does it include any scarcity paths such as stake, store, or burn?
Annabelle: We will have staking. First, the economics of the company: Revenue will come from a small percentage of swaps on our DEX, just like any other. While there are many DEX’es out there, ours will be the only flash-loan-proof and hack-proof exchange. Building on that, BabyYoda won’t be “farmable” in the classic sense — that leads to massive oversupply and prices approaching zero relatively quickly — it will mint as a side-effect of profits from staking large-cap liquidity in our DEX, and we’ll take a percentage of those minted. Primarily though, we’re building real games — not just simplified online NFT games — that are compiled and distributed, and these will embed NFTs as rewards to top scores, and as purchasable enhancements. We were planning on keeping the NFT revenue, and only enabling buy/sells of them in BabyYoda tokens.
To clarify, we’re minting on “yield aggregation” of profits made from swap fees of, for instance, BNB/BUSD or BNB/ADA…
Annabelle: The pre-sale starts September 20th. And, I type really fast so I greatly appreciate everyone spending the time reading about our project! Cheers to William and Eliena for all the hard work — it takes a lot of patience and time to run these AMA so thanks again!
I’d say, in closing, I hope we’ve conveyed that this entire team has put a lot of time, effort and resources into building a trustworthy platform…
Crypto Horses: It was a pleasure having you here with us.
Thank you for your precious time and attending this AMA. If you guys have any questions & want to learn more about the project, please join: https://t.me/grogu_finance Community.