we hosted an amazing AMA with Bcharity on the 1st of August
And here we will put some of the best questions:
Q1. Can you introduce yourselves to our community?
Defi Logic : Hello, I’m Joey Farr, I work with BCharity as market architect and team coordinator. I am a SESAC licensed composer/publisher, church volunteer/music coordinator, event promoter, and have also worked in the private security and intelligence field. I am currently working in the general background of the DEFI space to find exploits in AMM tech and various projects that need to be addressed before we can move forward with launching ETH 2.0 and other POS or POA blockchains/layered solutions and allowing for them to prop up our global markets and infrastructure.
Q2. Can you briefly tell us what is Bcharity Project?
Defi Logic : BCharity is a non profit, clean coded, and extremely secure yield aggregator platform built on Polygon. The team is dedicated to bringing defi technology and education to the masses through several education programs launched in local communities. We’re working to build open source finance solutions that are 100% free of exploits. All proceeds go to charity through a program developed by extremely gifted and generous students attending and volunteering for a summer workshop being put on by ECSSEN Career School in Calgary, Alberta, and funded in part by Canada Summer Job. With the success of this launch, the team has decided to carry on further with the project, developing open source, safe and responsible yield aggregation platforms and working to build ecosystems that help safely, and securely prop them up in the various dex platforms and blockchain networks.
Q3. Let’s now talk about the milestones you have achieved so far and about your upcoming plans?
Defi Logic : Our biggest milestone would have to be the fact we launched with only 5k TVL, and with amazing teamwork, we’ve built into almost 300k in less than 2 weeks. This has allowed us to think bigger, work faster, and set our bar a little higher in regards to our future plans and capabilities to execute them in a timely manner.
Q4. Every project has a story behind their name, Can you tell us more about the story behind this? Who are the team behind this project? can tell us their background?
Defi Logic : BCharity stands for Blockchain Charity, and was founded by students and faculty at ECSSEN Career School in Calgary, Alberta as a very clever summer job program funded in part by Canada Summer Job. Yes, you read that right, we’re one of the first government backed yield farm initiatives on polygon and defi.
Every year, ECSSEN develops new and exciting programs to help the community and provide students with better opportunities. This year, they decided to try their hand at launching a charitable yield farm and education platform to invite those who are new to DEFI to come learn and earn. I’ll let the students tell you all more about themselves.
Q5. DeFi is one of the hottest and most sought-after topics in the blockchain space right now. Can you share your opinion on DeFi with us? Do you think DeFi will disrupt the current financial system? What is Bcharity’s approach to the DeFi sector?
Defi Logic : Oh man, my opinion on defi. Defi is some of the most amazing breakthrough technology civilization has seen thus far. Defi also terrifies me, because while working in this space, I have come to learn some unsavory things about crypto, projects, and the true risk we expose ourselves to by moving away from Layer 1, proof of work blockchain. I do believe there is a future where POW, POS, and POA networks and all strive to build a more secure market grid for us all. I don’t think we should do away with layer 1/POW just yet, as it might be the only thing holding all of this together.
Defi will, and arguably has already disrupted the current financial system in more ways than most could even comprehend. The more we integrate blockchain technology into our lives, the more DEFI will become an intricate layer in the infrastructure.
stands for decentralized finance, but this is about so much more than money. This is about building virtual machines capable of doing what warehouses full of server grids are not. This is about building blockchain networks that can prop up even the most sophisticated and complex DAPPS with no bottlenecking. So yes, when we build infrastructure that can replace entire server grids and clouds, I think it will have disrupted a lot more than just the financial systems. BCharity is dedicated to building, educating, and taking defi mainstream. Our main goal is to put the power of DEFI in the hands of your grandparents and your children alike, and launch educational programs that teach them how to safely use it.
We have to overcome this daunting barrier of meta mask and hardware/software wallets in a safe and secure way.
I think once your average person understands the very basics of how to interact with defi protocols, it won’t take long for everyone to take part in our ecosystems and learn to be their own bank. THIS is how you truly upset the financial hierarchy that has seemingly ruled over us all for aeons.
And here we will put best questions from our members and Bcharity fans:
Q1) During the 2021 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?
Defi Logic : I am sorry to hear that, I too have been at the wrong end of quite a few scams in the crypto space, and that’s what inspired me to dive deeper, and solve these issues. Since BCharity is a registered non profit dating back to 2004, all of our records are made publicly available per requirements of running a charitable organization. Every cent has been audited since before the existence of BTC, and we can all trust that this project will be no differently ran than all other non-crypto related projects ran by ECSSEN. We don’t just have to answer to investors, we have to answer to the “Royal Canadian Federal Government”. You can also easily find our timelock contracts in our docs and see how we build. everything is transparent.
Q2) What’s your plan to improve the help and spending on the charity across region? How bicharity thinks for the future of defi with charity?
Defi Logic : Our main obligation to the public is education, first and foremost. Bcharity is launching blockchain technology workshops for all to attend, and we’ll continue to focus on developing this aspect of our project first and foremost in coordination with ECSSEN.
BCharity sees great potential in bringing people from all walks of life into the crypto space, teaching them to use defi protocols, and ultimately, showing them how to find opportunities and even build their own platforms using open source code we develop for crypto projects to freely use and further develop. So, there’s two aspects. As for charity outside of our own ECSSEN, we plan to direct proceeds to various charities of the communities choosing. Example: We’re currently working on building a lottery for our farm where a good portion will go directly to a local Children’s hospital, and we’ll gladly provide paper trails and documentation to anyone who ask.
Q3) What is your roadmap for 2021? What are notable milestones we should look forward in 2021?
Defi Logic : We have been rapidly expanding, and so has our collective ambitions. I can’t divulge too much information, but we’re working in the background non stop to build solutions to virtually every issue we come across in the defi space. We’re currently developing our road map, and our plans now extend well beyond into the future, and well beyond just polygon or yield farms. Top 3 goals for 21 are simple: Build this project, and when this farm stops, we will have already launched another, on a different blockchain. As we expand to various networks and blockchains, our work to finding interoperable solutions will become easier and we’ll have our own, clean coded native tokens to work with the whole time.
It’s important to remain malleable in the crypto space. While we have goals and ambitions, we also have realities and lives to contend with. Our students and volunteers also have their own educations to worry about, as they’re an assembly of students from universities in and around the region. So, we may have a bit of rotation in our development strategies and individual projects or blockchain solutions we’re working to manifest. If we need something, we work to build it. When that is built, we move on to finding and solving more problems, in and out of the crypto space, and continue to develop programs to bring clean coded software, protocols, and education to the masses. Ideally, the model we build here with BCharity can be replicated in various local communities around the world to help further blockchain integration and decentralized finance into society as a whole.
Q4) What is your roadmap for 2021? What are notable milestones we should look forward in 2021?
Defi Logic : We also have ambitions to launch a DAO where the most gifted and talented students will be incentivized to build their own platforms, and we will help launch the projects
we have developed with students, and work to keep strong partnerships with these projects as they flourish in the crypto space. Blockchain tech is here to stay, but cryptocurrencies and networks have many issues. We are just taking a more open sourced and community oriented approach to solving these issues than any one individual project. We aim to work with everyone for the greater good and security of blockchain technology.
Q5) They recently notified via telegram to their community that they will provide the Bcharity vault for betting so that the community can perform Staking.can you give more details about this tool? Have they been able to develop it? Or will the community have to wait a bit longer?
Defi Logic : Oh wow, you have done your research. Yes, we are working extensively with vault tech right now, testing it thoroughly before deploying anything. I’m working with COVAL/Emblem Finance and their NFT vault tech that has just been ported to function on Polygon. I cannot tell you how excited I am to play around with it and see what we’re capable of creating. The ultimate goal is to have NFT vaults that can projects can deposit multiple chain AMM DEX LP’s, and integrate routing and interoperable protocols, allowing for an ironically centralized way for decentralized finance to provide liquidity and earn rewards across all blockchains. This is something I desperately wanted to explore on ETH, but we all know how expensive that can be. As for betting, we are working on adding lottery sections where proceeds benefit a local Children’s hospital.
Q6) Do you have AUDIT certificates, or are you working to AUDIT your project, to make it more secure and reliable?
Defi Logic : Yes, I myself have been auditing the project, as well as attorneys and project leaders. All funds must be accounted for and documented. Every decision must have multiple board members, leaders, and attorneys sign off on them.
As for crypto space audits, I believe they’re worthless in most cases by what I have witnessed. sorry.
Oh. I am working on reading through all questions. thank you all so much.
Q7) Crypto market is in recent bear market and in this scenario it is very hard for investor to trust and invest on any project. How do you see this challenges and why should we invest on your project?
Defi Logic : THIS is a great question. I’ll go ahead and let you know that the nefarious yield farm activity that happened when Polygon launched can be directly attributed to the market crash that happened, by projects using migrator codes and nefarious tokens to short the global market through exploits.
Q8) Does your project also provide a platform for Dex, STAKING and Farming in future plans? To increase profits for token holders?When do you think of integrating other blockchain into the project like BSC, HECO? Any plans for higher coverage?
Defi Logic : Rewards structures for investors is among our top priority, it’s how we are funding development and able to make even more charitable donations, and develop better products to reach more people.
and this was the end of our AMA with Bcharity .
If you have any other questions you can ask here:
ℹ️ℹ️ Useful links ℹ️ℹ️
Website :- http://bcharity.net/
Instagram :- https://www.instagram.com/bcharityofficial/
Twitter :- https://twitter.com/bcharityFi
Discord :- https://discord.gg/mTvbcNTtzd