we hosted an amazing AMA with CakeSwap on the 24th of October
And here we will put some of the best questions:
Q1. Can you introduce yourself to our community?
My name is Manny Trujillo, i was born in Cuba. I studied information technology, since my arraival in US on 1995 I have continued to specialize in different branches. For the las 26 years i have been actively involved in the world of technology and financewhere i have helped a few people to join this incredible and infinite lifestyle. I’am the father of two wonderfull daughters who have always supported me. Also since 2015 I’m a crypto trader like all of you, thanks to the love i feel for technology, blockchain and cryptocurrency CakeSwap is destined to be an excellent project where traders will be the most benefited
Q2. Can you briefly tell us what is CakeSwap ?
CakeSwap is a project that has two variants:
Variant #1 CAKESWAP Token that is the native utility token of CakeSwap Exchange (DEX) it’s used for a variety of purposes within the landscape. Its main functions are yiel farming and staking
Variant #2. CakeSwap Exchange is a type of decentrilized exchange (DEX) known as a automated market maker (AMM)
Q3. Let’s now talk about the milestones you have achieved so far and about your upcoming plans?
So far CAKESWAP Token reached a successful private sale and currently we are still in the presale stage
After the launch of CAKESWAP Token on exchanges, CAKESWAP will be added as a for of payment in the list of the largest companies who perform payment proccessing for merchants worldwide. At CakeSwap DEX we are committed to providing our traders with an excelent MultiChain exchange with Farm, Pool, Lottery, Predictions & Collectibles
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?
Since i was a child I liked to eat cake, i remember that my grandmother and a cousin of my father taught me to bake bread and muffin, later i made cakes where the part I enjoyed the most was to cover it with meringue of different flavors and colors.
In creating CakeSwap I selected six people from family and friends with excellent and proven experience in different fields, essential for CakeSwap’s growth and success
Q5. NFT is one of the hottest and most sought-after topics in the blockchain space right now. Can you share your opinion on NFT with us? Do you think NFT will disrupt the current financial system? What is CakeSwap’s approach to the NFT sector?
Instead of disrupt i would prefer to use the term restructure😊
Yes, NFTs are definitely going to change not only the financial system, they are going to change the way general businesses currently operate. This’s why CakeSwap is working on creating a platform where you can mint, trade and sell NFTs
And here we will put best questions from our members and Cakeswap fans:
Q1) every transaction in Cakeswap cost a taxfee about13%, can you share about where this fees goes? and in your own opinion, are people will convince their self with this high transaction fees?
I hope that CAKESWAP investors understand that the 13% tax on each transaction is what will allow the solidity of our project.
2% of every buy/sell is taken and redistributed to all CAKESWAP holders as a reward and encouragement to hold their tokens
8% of every transaction is transformed into liquidity, it’s automatic and helps create a price stability
Also 3% of every buy or sell go to the marketing wallet to ensure our capability in supporting the marketing expenses, listing fee’s on biggest exchanges also to add liquidity
Q2) Could you provide some details about CakeSwap’ roadmap and target in this year? According to your project’s roadmap, what are your most important next priorities?
I would prefer not to give dates on our Roadmap but during this year with different marketing strategies in order to attract new investors to be part of the CAKESWAP family we will achieve the goals of Phase 1. The next priority will be the launch of CakeSwap exchange where users will enjoy different benefits that will be included
Q3) Almost 3/4 of investors are focused purely on the price of token in short term instead of understanding the real value and health of the project. Could you tell us on motivations and benefits for investors to hold your token in long term?
The CAKESWAP Tokenomics turn our project into a token with a positive growth trend that we will see reflected in both; the token price and the LP solidity. Holders will receive free tokens thanks to the automatic 2% rewards function implemented in the Smart Contract
Q4) Could you introduce briefly about your tokenomics? And tell us more about Total supply and Starting price per token? How many tokens will be minted in future and how many tokens will be locked by the team/Investors?
Already on previous questions we talked about the Tokenomics. CAKESWAP has 1 Billion total supply and will have an introductory price of ~$0.005 depending on the BNB price. CAKESWAP has a fixed supply therefore mint tokens IS NOT an option.
200,000,000 of CAKESWAP will be locked for a total of 300 days with 3 release dates:
First release of the 30% will occur after 120 days followed by 40% after an additional 90 days and 90 days later a last release of the the remaining 30%
Q5) one most important things for exchange platform in DeFi is the safe of the vaults or smartcontract. do your vaults have anti Rug Pull system?
Yes! We have 200,000,000 CAKESWAP tokens locked in the Anti Rug Pull System
Q6) Your project has great features. Do you have an AUDIT certificate or are you working to AUDIT your project to make project security more secure and reliable?
Yes, our project is audited here is the link:
Q7) How important is the COMMUNITY to you? And, how can we collaborate or help you for the development of the project and also help to spread it widely?How important is the COMMUNITY to you? And, how can we collaborate or help you for the development of the project and also help to spread it widely?How important is the COMMUNITY to you? And, how can we collaborate or help you for the development of the project and also help to spread it widely?
For CAKESWAP the community is very important, we will always listen to your requests and we will be launching surveys to collect the opinion and recommendations of the community and of course we will always be working for all of you and for the benefit of this great project
Q8) What makes it different from the others?? I’ve been fooled a lot by projects that disappeared in the middle of the road.. Convince me to start investing in your project?
Among so many things that we are going to have in our DEX we will add a Referral System where all of you will obtain rewards at three different levels; this future will stimulate everyone to share our project and continue to grow
Q9) Where can I buy your tokens now. What are your current contracts, and how can I buy them and what are the benefits?
The presale is live🔥
You will find the tutorial videos in the website:
The benefits are included in the website
I invite to all of you to visit our site and see everything, don’t miss out the CAKESWAP introduction video🔥
CAKESWAP is a WIN WIN project🚀
Q10) Has #CakeSwap succeeded in forming strategic alliances? What importance are you giving to this point of getting partnerships that will help the growth and consolidation of the project?
VERY important, in fact 2(two) of our departments on the team are:
-Partnership and Collaboration
This week we will update our website with the full team, you will see their names, their photo, the department and the link to the Linkedln profile of all of them
And this was the end of our AMA with Cakeswap.
If you have any other questions you can ask here:
ℹ️ℹ️ Useful links ℹ️ℹ️
Website :- https://cakeswap.exchange/
Twitter :- https://twitter.com/cake_swap