Plateau Finance x Crypto Spartans AMA Recap
Today, on November 2nd, 2021, Plateau Finance had an AMA with CryptoSpartans™, where the founders answered some questions from both the Cryptospartan staff and community members.
Q1) Can you please briefly introduce Plateau Finance to the community?
Plateau Finance is a Smart Yield Optimizer Platform that allows users to stake LP-Tokens issued from the AMM’s in Plateau Vaults, which automatically harvest and re-stake their rewards as LP-Tokens for a compounding effect. Helping users obtain higher rewards, hassle-free!
Q2) What project milestones have you achieved until now and what are you working on currently?
Before I go over our milestones, it’s important to note that we are in an extremely early stage in our development. Therefore, we haven’t given any specific timeline for any of our roadmap.
Here is a list of milestones we have successfully achieved in less than a month from development
• Community: An active and engaged community from within avalanche & other chains
• Partnership: Listing PLT on 2 Yield Farms (Namely Olive Cash & Singular farm & Generating initial Liquidity over $25k before launch)
• Token Audit: Completed an audit by HashEx We have plenty of milestones that we are committed to reaching.
Here is a full list of our roadmap: https://plateau-finance.gitbook.io/plateau-finance/roadmap
Q3)Does Plateau Finance seek to solve any specific problem in the Crypto ecosystem? If yes, what is that?
Yes, we aim to provide a Community driven Yield Aggregator with the least amount of fees on Avalanche. When it comes to our Vaults Our team will be providing a vetting service to assure the community that every project that is vaulted on our platform has met a certain requirement to avoid rugpulls & generally bad projects.
We also listen to our community & will be vaulting farms that they wish to see on our platform given there is a demand for it.
In addition, Our Harvest fees are just at 4% to insure the project is provided well support as well as providing incentives to PLT holders & Liquidity providers.
For more breakdown of our harvest fees check: https://plateau-finance.gitbook.io/plateau-finance/tokenomics/fees
Q4)What was your motive to build the platform on the AVAX chain? Do you have any plans to expand on other ecosystems?
1. Our main motive was due to the lack of “decent” yield aggregators & because we view Avalanche as a hub of yield farming due to it’s low & fast transaction costs. We also see a great community that we can build around us given we stick to our commitments.
2. Plateau Finance is a Multi-chain Yield aggregator. However, we see Avalanche as our main yield farming hub & we plan on incentivizing people to move funds over here later on when we do launch on other chains.
Q5)The distribution of $PLT states that 65% of the tokens have been airdropped. Have all the tokens been distributed or there are going to be further airdrops in the future? Also, what made you airdrop such a generous amount of tokens to the public for free?
So far only under 25% of our reserved 65% has been airdropped to the public, and we still have ongoing giveaways such as the 2,000,000 PLT airdrop to each of the top 25 holders (excluding our held wallets & LP wallets). There will obviously be more airdrops happening so make sure to join our:
Discord channel: http://discord.gg/6aHrbBPJpU
Telegram: t.me/plateau_fin
The reasoning behind our free airdrops (10% Avaxholic & 10% discord early joiners) was to have a fair level ground to early supporters & that we do not base our success on an ICO hosted by a launchpad rather by our partnerships & product.
Q6) It’s good to see a pre-release Audit done on the project by a reputed firm, HashEx. It instills confidence in users. Can you please tell us the parameters that were checked in this audit and the recommendations you got from them, if any?
By far HashEX has given us the green light for our Deployed token contract. We have discussed the possibility of redeployment because of minor “inconvenient issues” in our code.
However, we have not had any major issues and everything is quite in line with their standards so there is nothing to worry about!
Q7)How are your tokens in circulation and what is your total supply? What is the schedule for Unlocking the Listed token? In short, please assist us with your structure of Tokenomics?
Currently we have around 25% tokens in circulation including those spent for emissions (Olive Cash & Singular farm melting pot Our Dev wallets will be locked into liquidity soon with a vesting schedule & community reward + Ecosystem fund are partially frozen until Launch.
Q8) Do you have a coin burn / buyback system or do you plan to increase the value of those token burn tokens and attract investors to invest?
Here is our Transaction fees as it stands:
There is a 1% burn fee with every PLT transaction
There is a 1% fee to market buy PLT/AVAX LP & redistribute as reward to PLT/AVAX LP farmer
Here is our vault fees:
There is a 4% fee on Farming Rewards profits Split into the following
2% to market buy $PLT, distributed back to $PLT Stakers via the reward pool.
0.5% to market buy PLT-AVAX LP and distribute it to PLT-AVAX LP holders.
Q9) Where can I buy your token right now and do you plan to list your token on centralized exchanges like Binance?
You can buy directly from traderjoexyz.com or avax.olive.cash.
We will be listing on more DEX’s soon!
Q10)Can you tell me about Index Funds in your road map and how you are planning to make it happen ?
Great question, We plan to integrate a customizable index fund for LP tokens & Single staking pools that allows users to mix & match tokens to get their ideal APY while having exposure to the tokens they wish to have exposure to.
We have a lovely Crypto Hedge Fund Analyst on our team who has experience in Index funds & will be working on it soon after we are done with foundation works (It’s still in idea stage)
Q11)What’s the focus of the Your Project now? Build and develop products, win customers and users or partnerships? Are there any plans to burn or block unsold $ Your Project tokens? control flexibility, cost and security?
We are focusing mainly on development & maintenance & that will be going on for the first few weeks until we are confident in proceeding to our next stage of providing other features! Burning is already in action as we speak.
Later down the line we will be looking at burning a portion of our Airdrop remaining allocation given we find it hard to distribute. Ecosystem Fund also has the rights to burn a portion of their PLT fund or do buyback & burn with their other tokens given we are over budget.
Q12)There are a lot of defi portals in avalanche already, like yak, beefy, eleven etc, and many of them have their stable users. How can Plateau finance make something different, or attract the users to use our platform?
Partnerships are a key to having decent farms on our platform. In addition, we are committed to having the lowest harvest fees on Avalanche! Our roadmap also details a bunch of features we will be implementing which will bring users from other chains & platforms :)
Q13)My question is about your long term marketing plans. How, or through which big partnerships do you plan on utilising to pass your product onto the normal — especially non-crypto people?
We have partnered & continue to partner with Avalanche centered projects. Free Airdrops was a way to give exposure to others who may not have entered the crypto space & we will be looking at similar airdrops just not at the size that we have done before :)
All in all, it was a smooth and successful AMA. Thank you for reading.
