HECO AMA Series Recap — BIRD Finance
Introduction — Segment I
Welcome, Yellow. Could you tell us about yourself? What did you do before BIRD Finance and why did you choose to work for BIRD Finance?
Yellow：Thanks for inviting me. I am Yellow from Bird Finance Community. I have been a developer at Silicon Valley for the past ten years. I have started investing and developing in the blockchain field since 2016. Bird Finance is a DeFi platform focusing on smart pool and lending by its governance token BIRD. Bird Finance seeks the best return mining pool by our best algorithm and automatically compounds it for maximal profit.
Introduction — Segment II
Q1: Could you tell us more about your project? In other words, what does BIRD Finance do?
Yellow: Bird Finance is a DeFi platform focusing on smart farms by its governance token BIRD. Bird Finance seeks the best reward mining pool by strategy and automatically compounds it for maximal profit.
Bird Finance keeps on opening new safe and high-benefit blockchain projects and adapting maximal-profit strategy to help users aggregate and manage crypto assets of investment.
During the process, Bird Finance commits to buy back BIRD tokens from the second market to achieve deflation.
Q2: There are many similar out there, some have been quite successful. What is special about BIRD Finance compared to other projects?
Yellow: Hyper-Deflation Mechanism is our first outstanding feature. It enabled the deflation of Bird token and benefits all the Bird holders.
2nd, Basic Token Multi-Mining
Stake the principal at our smart farm to conduct auto-compounding mining, and meanwhile the smart farm gives you BToken as your voucher, which is used to redeem your principle.
With BToken, you can mine BIRD tokens by staking them in the BToken mining pool. In the future, you can also mine NFT.
3rd, Cross-chain Smart Pool
Bird Finance will continue to integrate with Solana and Ethereum. Meanwhile, the smart pool will automatically seek high-quality pools across the chains, thus providing users with a cross-chain portfolio that enables higher profits.
Last but not least, Community Governance is also a great feature that differs us from other DeFi projects.
1. Community vote to decide the mining pools to integrate
2. Community vote to decide the future development of Bird Finance, as well as all big events
3. 2% Circulation tax charged in BIRD are reserved for community governance
checkout our cute website: https://birdswap.com/
this is our group https://t.me/BirdFinanceGlobal
Q3: Great, could you give us some info on the BIRD Token?
Yellow: 50% of the total Bird will be sent to the blackhole address upon launch. The smart contract will charge 6% Bird from each transaction. 2% of the charge will be added to the BIRD liquidity pool on DEX, 2% will be transferred to DAO governance pool, and the rest will be distributed to all bird holders proportionally. Since blackhole address has the largest allocation of BIRD, most of the transaction cost will be burned to the blackhole. Therefore, Bird enables the deflation of Token.
Token name: BIRD
Token contract: 0xED6a80032336bdbA650d581F07AC64AEC58b0f3D
Q4: What would be one’s motive to hold BIRD tokens? What can we do with $BIRD ?
Yellow: There are thousands of DeFi projects on the blockchain, and most DeFi projects are abandoned eventually because of the problem with their economic model. The output of Token is too large, and there is no corresponding deflation mechanism to balance the output, leading to inflation. That’s why we design the self-deflation model of BIRD in the first place. Also, while the token model of Bird encourages people to hold, we also came up with at least 3 more use-cases to help burn faster. such as smart farm mining will charge a little reasonable fees, and most of the fees will be used to buy back and burn BIRD. With the continuous destruction and deflation of BIRD, the ultimate economic incentive will prompt everyone to become BIRD holders and promoters. We will also continue to develop more great defi products on our platform. We will always strive to promote the long-term development of BIRD.
Q5: How does a smart pool work? What’s the difference and advantages?
Yellow:Let’s say if you have some HUSD-USDT LP and want to mine MDX with it. What people normally do is just go to MDEX’s website and stake their HUSD-USDT LP token at MDEX’s liquidity pool. Then you can start earning MDX tokens. However, if you want to compound your MDX earnings, you need to harvest your earnings and sell half of them to HUSD and other half to USDT, then add them to the liquidity pool to get more HUSD-USDT LP, and finally you need to stake the new LP token you just got. It takes about 5 transactions in total.
I suppose you guys all know that on HECO Each transaction costs HT as gas. Which means every time if you want to compound your earnings it’s gonna cost about 5 txs gas and time, which is a trouble cost. In our smart pool, our smart contract will do all the work for you without you paying anything. Even more, the average of our compounding time is 10–30mins.
Which means you will earn much more MDX at our platform than going to the MDEX and mine there. It’s not over yet, you will not only get a much higher yield of MDX tokens, you will also earn BIRD(our governance token) if you use our smart pool. That’s most likely about 5x to 20x times more profit. You can check the exact rate in our website (https://birdswap.com/#/farm), from our website you can see the original APR at mdex and APY at our smart farms .
Q6: How do you guarantee users’ asset security?
Yellow: First of all, our contracts are audited by Certik, and we will add additional audits every time the contract is modified, https://www.certik.org/projects/birdswap, here you can see our historical audit records, which is to ensure the security of user assets. Besides audit we will do tons of tests before we deploy any new contracts to ensure the safety and logic of the smart contracts. The best evidence is time.
Our smart farms were launched in early May and deployed at the same time on HECO and BSC. Couple of weeks ago, a large number of smart farm projects on HECO and BSC were hacked due to their contract flaws. Meanwhile, Bird Finance’s smart contracts are safe and steady.
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· HECO Telegram Community
· HECO Discord (Welcome all developers to join!)
· HECO Explorer
