we hosted an amazing AMA with Rewardeum on the 4th of September
And here we will put some of the best questions:
Q1. Can you introduce yourself to our community?
A little bit of my background first.. I am from Pakistan, and currently in the UK with my on-going PhD (in Mechanical Engineering) and I am also working as a Research Assistant in the same University. So yes, I am from a technical background.
Although my research is not related to blockchain at all, I have been heavily invested in crypto since a long time. Mostly focussed on bsc projects, and recently highly involved in the reward tokens ever since they started a few months ago. I have been noticing the lack of attention towards the problems of existing ‘reward tokens’ and proposed solutions to many founders, which lead me to work with one of the best and experienced Co-founding team, i.e. the team of Rewardeum to help develop the most innovative and sustainable solution to reward tokens.
Q2. Can you briefly tell us what is Rewardeum ?
Rewardeum is a passive income generator with an emphasis on sustainability and flexibility! It is the first token to allow investors to claim NFTs as well as a wide range of currencies from our dashboard. We offer BTC, ETH, BNB, USDT, BUSD as well as REUM (our native token, for auto reinvest), as well as holding regular community votes to list their most desired token for a period of time. Furthermore, we create partnerships with other successful BSC tokens and list their project on our platform as a claimable reward.
Q3. Let’s now talk about the milestones you have achieved so far and about your upcoming plans?
We one of very few multi coin tokens that offers much freedom of choice to our investors. We are also the first reward token to allow investors to claim either tokens or NFTs as their reward of choice. Our smart contract developer and also the co-founders of REUM were the original inventors of the Dynamic Tax protocol. We are also the first project to introduce a 2-layered reward pool for rewards longevity!
These are just some milestones to name a few, while we have a long list of features that we offer.
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?
We wanted to be seen as a hub for rewards. As such, we wanted to come up with a name that explains this before the investor even reaches the website. We wanted to have ‘reward’ in the name to emphasise this. We decided to call ourselves ‘Rewardeum’ based on the latin use of ‘eum’. Words that end in ‘eum’ are generally buildings or structures, places of high importance (colloseum, mausoleum, museum, etc). We thought this would best describe the token and our values in a short and catchy word 🙂
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 Rewardeum’s approach to the DeFi sector?
To us, DeFi means one thing. Freedom. Freedom for the investor not to be tied behind a centralised service provider to trade how they want to trade. Freedom to pick and choose where and when they move their money, and how frequently. I believe we are still in the early stages of where DeFi is headed. If we look back at the crypto bullrun back at the end of 2017, we can see that many of those tokens died off soon after, while the tokens with legitimate use cases lived on. I believe DeFi is currently in this stage. There are many tokens out there, but eventually, most will die off and only the strongest tokens will survive. This is, and has always been the way of life. Survival of the fittest. DeFi will continue to mature and take a larger space in the world financial stage over the coming years.
We believe that DeFi is here to stay and we are happy to be a part of it at such an early stage!
And here we will put best questions from our members and Rewardeum fans:
Q1) Pump & dump schemes are becoming a major problem in the crypto space which needs solving, Investors hard earned money going down the drain. Could you please tell how Rewardeum will prevent whales from manipulating the price & ensure the price appreciates and reach for the moon?
Sure. The way we have designed our mechanisms is to penalise ‘manipulation’ and yet allow normal (natural) rate of sells. The way we have done is by introducing a 24-Hour Anti-Dump Mechanism. What it does is it tracks the amount of tokens a person sells in a span of 24 hours, and incurs a rising taxes to it accordingly. Which means, now, unlike other projects, a pump-and-dump manipulation is no beneficial to those manipulators as much as it would be benefiting us (as taxes fill our reward pools). Meaning, in Rewardeum, they cannot get away with selling small portions of tokens to get away with higher taxes, instead, the total sum of tokens sold (in 24Hr) will incur the higher tax bracket! The tax brackets can be found in our Whitepaper, and it is well designed to allow normal trading to happen, while only punishing the price manipulators. (Of course every one is free to sell, but manipulators help our rewards more, which helps the holders get more rewards)
Q2) I see that you offer gas fee waiver for small investors,so can you explain more about this gas fee waiver that you are offering to small investors? How will it works? Is there any minimum amount gas fee to be waived?Why do you decide to waive the gas fee of small investors?
Correct! We do have a gas waiver for small investors! What this means is for those who have invested a small amount, now, they no longer have to worry about the gas fees eating up their reward amount, since we provide free gas fee (on top of their rewards) as compensation.
Why have we done this? We had noticed majority of the holders (in previous projects), especially from developing countries who can only invest small amounts had similar problems (gas fees, which normally we think is too small, for them it makes a huge difference when it comes to daily rewards).
Yes! We have designed it in such a way that it cannot be manipulated or exploited. We do have a minimum amount and a maximum amount of rewards where this gas-fee-waiver is applicable. That range is set around the current typical gas fee.
This allows all investors to benefit from daily rewards, regardless of how much they are investing!
Q3) Many initiatives have been undertaken with inexperienced team members, and some have failed miserably. Could you tell me a little bit more about the squad and their history? Are they well-versed in their subject and experts in it?
We have a founding team of 6 members. Apart from myself, as I already introduced initially, we have four co-founders (Barzy, Callo, Xukundi and DrGorilla) who have a vast experience in this field. Barzy being also from a technical background and Callo from a finance background, Xukundi is our web designer+developer, while DrGorilla is a well-known and highly skilled and experienced Solidity developer with many years of experience). All of these four I mentioned were some of the original co-founders of their previous project called iBNB. We also have SR in our founding team who is an entrepreneur and he ensures constant marketing, partnerships, collaborations to help our project constantly grow in terms of awareness and reputation.
Q4) The project you refer to each user transaction is subject to up to 15% tax. In my opinion, this is too high a number for a crypto project. Why did you choose the 15% figure and how will it be distributed? How do you convince users to continue trading at ”Rewardeum” ?
It is important to understand that ‘taxes’ are the source of rewards (and for all reward projects). While other projects typically tax from 10% tax to 20% (or more), we have a balanced amount of basic taxes that would not push away the freedom to trade, while still ensure a minimum needed for reward
I must also mention a very important difference we have with other reward projects in terms of basic taxes: Typically, projects have an unwanted percentage going towards Liquidity. Our tax brackets are as follows:
13% Reward Pools
Yes, that’s right. You don’t see a liquidity percentage there. This is because the 13% (reward pools) first go through our ‘DTP mechanism’ (Dynamic Tax Protocol), which checks if any additional liquidity is needed or not, if it is, a portion goes to Liquidity pool, otherwise, all of the 13% adds to reward pools! This ensures that our investors taxes are not wasted in any unwanted liquidity, and this prioritises rewards, which is what Rewardeum is all about.
Q5) Lots of ‘Passive Income’ projects have automated claim reward activities for holders. My question is, does $Rewardeum implement the same thing by using the automatic claim reward system? What unit of time is used in the reward claim? Hourly, daily, weekly?
Rewardeum does ‘not’ use an auto reward distribution as majority of reward tokens do, instead, holders of $REUM can claim their rewards every after 24 hours manually from our Dashboard! There several reasons we did not opt for auto rewards, the main reason being reward sustainability! Other tokens have seen rewards being 100% dependent on the current trading volume, which means, when the volume is low, their rewards get lower, and vice versa.
Our solution to reward sustainability involves a use of an extra ‘Reward pool’ that we call ‘Smart Pool’, which stores all excessive trading volume and delivers it to the reward pool in times of lower volume! This ensures consistent daily rewards for our holders.
Q6) I see you have “GAS FEE WAIVER FOR SMALL INVETORS” feature. Will gas fees be calculated according to the reward token or will $ REUM be used to pay for all transactions in Rewardeum? and I see you have ETH reward, how will you deal with high gas fees like now?
Gas fee will be based on the amount of rewards they are ‘about to claim’, if that amount is (for example) between 0.0001 BNB and 0.0005 BNB, then the gas-fee amount (for example) 0.0004 BNB will be added on top of their claimable amount. So they end up claiming rewards which includes gas fee so that it gets compensated. To answer the other part: rewards in ETH (and other coins) are pegged-tokens, i.e. bsc wrapped version of ETH. So we do not deal with gas of ethereum, rather, we use the liquidity of pancakeswap for all swaps for every reward token we allow to claim.
Q7) Here in #Rewardeum, you are offering daily passive income of BNB, BTC and many more tokens that are not tied to trading volume. So what do you mean by “tokens that are not tied to trading volume”? And can you explain too on how to be eligible in this passive income?
Thanks for your question. The rewards are not dependend on whatever the volume does in a short span. Unlike other projects, if the volume goes too low, Rewardeum has a backup pool where the rewards gets re-filled and maintained every 24 hours. That extra pool is called Smart Pool (sharing a diagram below) which gets filled through (1) any periods of high trading volume , (2) The 24h Anti-dump extra tax, and (3) a small portion of excess reward claims.
Hence, when the volume is low, the rewards are maintained. When there is any spike in volume, instead of rewards getting excessively high, the ‘longevity’ of rewards increases. This ensures a constant buying pressure, and lesser reasons to sell when holders see consistency in rewards.
Q8) is the getting more of our popular now a days. It is looks NFT has been bright future. So do you guies have the any plan to include NFT to your project?
Thank you for the question. I haven’t got a chance to elaborate on NFTs, or “The Vault” that we have as another unique feature (never done before).
Rewardeum has a Vault (think of it as a special reward pool) that provides more freedom to invest in things they want, we can do giveaways via lotteries (mintable nft lottery tickets) and much more. The vault is not part of the token smart contract and as such allows us to add more functionality in the future so the possibilities are endless. Given how big the nft market is right now the fact that we have a nft use case from launch (and not in months as promised by many other bsc tokens) means we can not only partner us with other bsc projects that offer nfts, but, yes as you asked, we CAN create our own NFT series keeping us at the forefront of reward tokens for along time to come. The vault also allows claiming of erc-20 tokens, giving us even more flexibility in what we can offer
Q9) Do you have Whitepaper if yes please share it with us and secondly do you have plans for pre-sale? Where can we join it?
Q10) I don’t do buy and sell and trading but I do investing for long term so why should I invest long term on Your project?
I am not a financial advisor and this is not a financial advise, but the aim of this project is to benefit the long term investors to be able to recover from their investment without the need for selling, as this is a passive income generator, and the long term investors are the ones who benefit most from these rewards. But of course, there is more to it. This project allows you to be able to expand your portfolio by earning trending/stable/popular tokens for free everyday!
Q11) Do you have the AUDIT credentials or are you the working to AUDIT your is tha project,” to make it more secure and reliable?
Our Audit has been successfully completed by SolidProof, and all minor issues were resolved. More details can be found in our Whitepaper. (rewardeum.gitbook.io)
Q12) Is this your project only for Big
Funds, how about others with small funds, is it open to everyone can invest?
Yes, anyone can. Small investors get a gas-fee waiver on their small amount of claims 🙂
And this was the end of our AMA with Rewardeum.
If you have any other questions you can ask here:
ℹ️ℹ️ Useful links ℹ️ℹ️
Website :- http://rewardeum.com/
Twitter :- https://twitter.com/rewardeum