1) Welcome you to have an AMA with us. This is a session to get to know more about your project. So, please give an introduction about yourself.
Hello. I’m @gasphers, I’m a full stack developer of our project, and also I’m co-founder with @babygem.
2) What is BabyDAI? What do you stand for?
BabyDAI is DAI rewarding Defi protocol. If you holding BDAI, you will earn DAI reward from trading volume tax. Baby~ is now a quite famous prefix for reward giving tokens in crypto community now, so we’re one of them.
3) Why DAI? Why not USDC? USDT? BUSD?
USDC/USDT/BUSD guarantees its price by deposited real dollars, so they are basically fiat collateralized stables. DAI is guaranteed by ETH deposit, so it is crypto-collateralized stablecoin and also works for mortgage loan/leverage for ETH users. DAI is more decentralized stable than those tokens, one of the most innovative projects in the crypto world. We are crypto lovers, we wanted to promote DAI and its innovation to normal people, so it is why we choose DAI as a reward token.
4) Can we know more about your main features?
We’re collecting fees from trade, fees are used for redistribution, marketings and buybacks.
Redistribution is automatic, so normal people who have difficulty with Defi system can be easily accustomed to our ecosystem. Total 7% of trade volume is turned to DAI and automatically redistributed to every holder according to their shares. So if there’s enough trading volume, BabyDAI holders get DAI automatically every 3hours.
5) What are your marketing plans ahead?
We’re now concentrating on some influencer/social marketing at this stage, but if we collect enough holders and budget, we will apply CMC again and in the long run, we’re gonna contact with makerdao community to further plans.
6) Are you developing any form of DAPP? Marketplace etc in the longer run.
BabyDAI dashboard is underdeveloping now. It will include some features like displaying total distribution, holders, the claimable balance of DAI, manual claim button, etc. Swap/Launchpad/NFT marketplace things are considered for future development but will be discussed in the community at first.
7) Community driven project like yours can drive social impact. Would you be giving back to society?
Of course, we are. At the final stage, the token ownership will be renounced and the marketing/buyback wallet might be set to Burn address. We could contact with DAI team and could discuss donating deposited ETH corresponding burnt DAI tokens to charitable organisations for a good cause.
8) What other CEX would you be listed on?
We’re not being listed on other CEXs now, but if we hope we could be listed on the CEXs future. It will really inspire the whole community.
9) Again, Bitcoin is moving up strongly. How do you see the current market?
I’m not 100% sure, but I think cryptocurrencies and the market still have a lot of possibilities. I think we’re still in the dip point in the long term view.
10) Give us an inspiring quote before we end this segment.
Personally, I majored in philosophy at University, I’ll quote Kant’s saying. “The best way to predict the future is to invent it.”
I hope we could make a solid community together and make a crypto world more realistic and close to our real life. Just not by sitting back and predicting but by acting positively, we could make our own futures from now. Thank you for inviting me today. Have a good day.
