AMA Recap with InfinityGainzz
Full Text version:
Guests:
Tony Warrick — Lead Dev
Brian Barnett- Team Manager
Reno — Owner of t.me/Infinitygainzz
Shappy- WarOnRugs
Try.Finance $TRY AMA Recap, January 4th, 2021 Recap
https://t.me/c/1324535284/1293160👇👇
Start of the AMA recap:
Crypto94| Owner of Infinity Gainz, [04.01.21 12:05]
Lets start off with a Brief Description of what is TRY.Finance? Please explain
Tony Warrick, [04.01.21 12:07]
it is a very unique project some have said that it literally has almost all of the great features that defi offers packed into 1 protocol. Some of the mechanics behind is were inspired by other projects that had great success but none of those inspirations were cloned or copied at all. Of course there was a great learning process behind the building of it, we even had to do a few things to rework the project, which you may have seen here last night. We spent an obscene amount of time planning and building the key components that we believe will provide the best success for all of the features. We incorporated rewards for activity which also help expand the deflationary side of the project. All in all we tried to build one of the most rewarding defi projects out there today.
Tony Warrick, [04.01.21 12:08]
Brian would you like to add anything?
Brian Barnett, [04.01.21 12:10]
[In reply to Tony Warrick]
Apologies, I’m on live chat with the Tech dept. I think you explained that part very thoroughly, please proceed
Tony Warrick, [04.01.21 12:10]
OK great.
Tony Warrick, [04.01.21 12:12]
I am sure we will be getting into far more detail over the span of this AMA.
Brian Barnett, [04.01.21 12:12]
[In reply to Tony Warrick]
of course, all points will be covered.
Crypto94| Owner of Infinity Gainz, [04.01.21 12:14]
Is $TRY a fork of another project?
Crypto94| Owner of Infinity Gainz, [04.01.21 12:16]
I am hearing a lot of people say, “Watch the next $TRY Forks that will be popping up”.
Please elaborate more on some unique features your project has?
We seen Projects like:
CORE 100x
Trinity 100x
RFI 100x
Base 100x
Start a clone mania, can we expect the same from $TRY you think?
Tony Warrick, [04.01.21 12:21]
It is a fork of TRY v1–100 lol. Really no it’s not a fork, some can say that has parts that were inspired by other great projects. But we really took time to develop TRY to be a standalone project in the DeFi space. When I say that it’s a fork of TRY v1–100 I really mean it, we literally spent months building and testing out different mechanics to ensure we had the best possible set up. From the features to the tokenomics and metrics, all were done and redone many times to get the right set up for success.
We wanted to build a project that motivated activity as it’s main driving goal, we tried to incorporate rewards for activity as top priority. We built the transactional lotto reward pool for that case, 1% of every tx goes into a pool and it is awarded to every 10th transfer. We started with 25 but moved it down to 10 to make it more fun for users and help battle potential exploits. We also installed standalone sell fees that reward staking pools directly, these rewards have been proven to be great since the launch. On top of that the deflationary model has been hard at work and has burned almost 4% of the supply since launch, the deflationary fee is still low enough to not effect the use of the project.
There will probably be attempted clones but the features require much set up and those clones will have to work hard to even learn how to try to set up all the features. Also if they do not make the adaptations we made last night you will know not to touch them with a 10 foot pole.
Crypto94| Owner of Infinity Gainz, [04.01.21 12:23]
Explain the Utility of your token. Where will the Demand come for it? How does it function within the Ecosystem?
Tony Warrick, [04.01.21 12:23]
I would like to note that all rewards that the project offers come from the active supply so its neve detrimental and has no inflation.
Brian Barnett, [04.01.21 12:23]
[In reply to Tony Warrick]
Agree, from the beginning @TRY_Tony made sure the code was hard to be cloned. Overthinking and overworking caused that issue from the last nights debate to slip his mind which is natural after months of coding :)
Tony Warrick, [04.01.21 12:26]
[In reply to Crypto94| Owner of Infinity Gainz]
Like most defi tokens, we are always building utility options. We are still a very young project and those utilities will increase overtime. Most people want real life utility but lets be honest basically no crypto offers real life utility. So to start we tried to focus our utility on the ability to earn profits via rewards. This is exactly what has been happening since our launch, so I can comfortably say its also how it functions in our current ecosystem. More utility overtime will just amplify these results.
Crypto94| Owner of Infinity Gainz, [04.01.21 12:27]
Tell me why as an investor I should buy and hold the $TRY Token?
Tony Warrick, [04.01.21 12:27]
Sorry I am a dev so I tend to get very overly descriptive, I am trying to hold back lol
Crypto94| Owner of Infinity Gainz, [04.01.21 12:27]
Maybe you can tell us about the staking rewards?
Tony Warrick, [04.01.21 12:28]
[In reply to Crypto94| Owner of Infinity Gainz]
#1 because its hard to find a team that is honest in this space. #2 because it offers the best rewards for holding the token :)
Brian Barnett, [04.01.21 12:30]
[In reply to Tony Warrick]
Well said. Risk management is the most important factor when trading/investing and the better it is, more profitable you as a trader or investor are.
Unfortunately, what DEFI space lacks is not a piece of code, it is HONESTY.
Tony Warrick, [04.01.21 12:30]
[In reply to Crypto94| Owner of Infinity Gainz]
Sure.
Like most staking pools it has a 5% fee for entering and exiting the pools that is split to other users, this drives rewards for staying in the pool. Then it also gives the entire 5% sell fee as rewards to all stakers. These rewards are dynamic and come from the active supply, so they never inflate it. Some of our stakers even seen 100%+ returns yesterday.
Crypto94| Owner of Infinity Gainz, [04.01.21 12:31]
[In reply to Tony Warrick]
Has the team worked on any previous projects?
Brian Barnett, [04.01.21 12:31]
Reward holding, discourage selling.
Tony Warrick, [04.01.21 12:32]
[In reply to Crypto94| Owner of Infinity Gainz]
We did dev work for hire for years! We got sick of what other projects were doing with the amazing protocols we were building. We decided to stop doing that and focus on only ours. Since the work was for hire we do have client confidentiality but if you know how to look you can see what we have done.
Shappy 🚫, [04.01.21 12:36]
I’d like to add a quick note regarding the issues of yesterday: Tony and I was able to find solutions and applied a temporary fix as well as a more permanent fix is coming too. Right now, the contract is safe and cannot be misused by the owner because it requires both Tony and me to sign to do anything on it, also 80% of the liquidity pool tokens have been locked on Team.Finance for 1,2,3 and 4 months. The remaining 20% stays in the contract in order to rebalance as needed.
Shappy 🚫, [04.01.21 12:37]
As the owner did the necessary fixes to make the funds safe, we deleted the advisory as a result and issued a new statement.
Tony Warrick, [04.01.21 12:37]
[In reply to Shappy 🚫]
Yes, I greatly appreciate your help. I am learning how to make people feel more comfortable with defi solutions. I knew I was honest so over looked these things, not intentionally. But you were a great help!
Tony Warrick, [04.01.21 12:38]
The key is making people not have to trust honesty even if it is there, I like that.
Shappy 🚫, [04.01.21 12:38]
[In reply to Tony Warrick]
Definitely, that’s how DeFi should be.
Tony Warrick, [04.01.21 12:38]
[In reply to Shappy 🚫]
+100
Brian Barnett, [04.01.21 12:38]
[In reply to Tony Warrick]
You mean not be dependent on honesty and characters but rather the code :)
Brian Barnett, [04.01.21 12:38]
Which makes total sense when it comes to DEFi.
Tony Warrick, [04.01.21 12:38]
[In reply to Brian Barnett]
+1000
Shappy 🚫, [04.01.21 12:38]
[In reply to Brian Barnett]
Yes, hehe.
Crypto94| Owner of Infinity Gainz, [04.01.21 12:39]
Lets talk about the code. What makes it unique or complex?
Crypto94| Owner of Infinity Gainz, [04.01.21 12:39]
Shappy, is there any uniqueness to it?
Crypto94| Owner of Infinity Gainz, [04.01.21 12:40]
We seen projects with unique code:
Core
Tri
Rfi
Base
Root
Do insane gains because of their unique code and prestige associated with that code, what makes TRY Unique?
Tony Warrick, [04.01.21 12:41]
We tried to make sure that it was not able to be abused by other contracts #1. As you can see in our staking code we blocked contracts vs using standard reentry mechanism.
The code for the token has really optimized all of its features to ensure that they provide the best intended results as well.
There is more functions in that contract then I have seen in most others.
Tony Warrick, [04.01.21 12:42]
The hardest part is making sure all features work together to provide the best overall success.
Tony Warrick, [04.01.21 12:42]
I think we hit that challenge on the head.
Crypto94| Owner of Infinity Gainz, [04.01.21 12:43]
[In reply to Tony Warrick]
Which other functions?
Shappy 🚫, [04.01.21 12:45]
The staking that both redistribute on entry/exit of the staking pool as well as when any sell happens is very interesting when added with liquidity rebalancing.
Tony Warrick, [04.01.21 12:46]
[In reply to Crypto94| Owner of Infinity Gainz]
Tx lotto rewards and being able to optimize them, Buyback functions via rebalancing, Sell fees which award staking pools directly, deflationary system which makes all of those together be even more effective. On top of that there were many other functions required just to enable all these features to work together properly.
Tony Warrick, [04.01.21 12:46]
[In reply to Shappy 🚫]
Yes this had to be built from scratch
Shappy 🚫, [04.01.21 12:47]
What’s cool about it is that it doesn’t require mint functions to performs and allows to retain the same supply so no dilution happens, making it self-sustainable.
Tony Warrick, [04.01.21 12:47]
[In reply to Shappy 🚫]
This is the first project with this model.
Crypto94| Owner of Infinity Gainz, [04.01.21 12:47]
[In reply to Shappy 🚫]
👍👍
Tony Warrick, [04.01.21 12:48]
[In reply to Shappy 🚫]
It also adds to the deflationary mechanism.
Brian Barnett, [04.01.21 12:48]
[In reply to Tony Warrick]
Please mention how many % of supply has been burned since listing?
Brian Barnett, [04.01.21 12:48]
People love numbers. :)
Shappy 🚫, [04.01.21 12:48]
[In reply to Tony Warrick]
Indeed! Instead of having a token where its supply increase because of staking, it actually decrease which makes it even more interesting.
Tony Warrick, [04.01.21 12:48]
[In reply to Brian Barnett]
Near 4%
Tony Warrick, [04.01.21 12:49]
In just 1 day
Brian Barnett, [04.01.21 12:49]
4%, in almost 24 hours. That’s a lot.
Tony Warrick, [04.01.21 12:49]
To be able to offer that much deflation on top of amazing rewards is truly unique.
Crypto94| Owner of Infinity Gainz, [04.01.21 12:50]
Honestly, I expect forks soon lol. The idea is very unique
Tony Warrick, [04.01.21 12:50]
That’s how you know you are onto something :)
Brian Barnett, [04.01.21 12:50]
[In reply to Crypto94| Owner of Infinity Gainz]
There always are forks to everything :) But the first usually have the biggest advantage.
Brian Barnett, [04.01.21 12:51]
There’s difference between being trending and setting a trend. Anything can be trending, but few set it.
Tony Warrick, [04.01.21 12:51]
The main thing is our team is proven to be honest, we are even doxxed with a few great industry members.
Crypto94| Owner of Infinity Gainz, [04.01.21 12:51]
[In reply to Tony Warrick]
Chapo and Smoke right?
Tony Warrick, [04.01.21 12:51]
[In reply to Tony Warrick]
This is very important.
Tony Warrick, [04.01.21 12:52]
[In reply to Crypto94| Owner of Infinity Gainz]
Yes, they have confirmed it publically.
Brian Barnett, [04.01.21 12:52]
[In reply to Tony Warrick]
I think it is exactly what sets apart the 100x projects @Renoboy81 mentioned from the rest.
Jay Hay, [04.01.21 12:52]
[In reply to Tony Warrick]
Why not everyone?
Tony Warrick, [04.01.21 12:53]
[In reply to Jay Hay]
Let’s be honest, this space is not properly regulated yet. To protect us and the users we think it’s in the best interest of all involved to ensure safety from any agencies.
Jay Hay, [04.01.21 12:54]
[In reply to Tony Warrick]
But why do you go by a full name? Is that designed to be misleading?
Tony Warrick, [04.01.21 12:55]
Mainly so it is more distinguishable to people. I hate when people use weird names like Moonboy or things like that.
Tony Warrick, [04.01.21 12:56]
I thought it was an important part of building my future legacy, it’s more of a trademark
Brian Barnett, [04.01.21 12:56]
[In reply to Jay Hay]
Actually both Barnett and Warrick have a medieval meaning so they are not completely random :)
Jay Hay, [04.01.21 12:56]
[In reply to Brian Barnett]
Do you have a github?
Tony Warrick, [04.01.21 12:56]
Warrick as a boy’s name is of Old German origin meaning “leader who defends”.
Tony Warrick, [04.01.21 12:57]
[In reply to Jay Hay]
github.com/try_finance
Jay Hay, [04.01.21 12:57]
[In reply to Tony Warrick]
I think purposely using a full name that isn’t yours is kind of deceiving lol
Jay Hay, [04.01.21 12:58]
Thanks👍
Tony Warrick, [04.01.21 12:58]
[In reply to Jay Hay]
I respect your opinion.
Jay Hay, [04.01.21 12:58]
Nothing at that github
Tony Warrick, [04.01.21 12:58]
[In reply to Jay Hay]
let me check on that asap, we have been getting attacked on so many levels its crazy
Tony Warrick, [04.01.21 12:59]
https://github.com/TRY-finance?tab=repositories
Crypto94| Owner of Infinity Gainz, [04.01.21 12:59]
Its Defi Jay. Let them fake it. Code is what matters
Brian Barnett, [04.01.21 13:00]
[In reply to Jay Hay]
Also, this space strives on anonymity. When you disclose yourself and your project, the users must be disclosed as well to abide by the law.
It would be extremally unwise and literally dangerous to accept money from unknown investors that have not passed KYC/AML and be disclosed yourself. You may end up with charges such as Funding Terrorism or Money Laundering as you never know whos money is it you receive. Source of DEFIs revenue model is completely onchain, therefore middlemen are eliminated and regulation is absent. You can’t KYC people on blockchain or ask them to disclose their ETH addresses, if I asked you that, would you do it? No. That’s why teams and promoters are anonymous. And disclosure never guarantees the safety of the funds. Worlds biggest thief in history was one of the most respected man on Wall Street.
Brian Barnett, [04.01.21 13:00]
[In reply to Brian Barnett]
It is the code to which people must trust in DEFI.
Jay Hay, [04.01.21 13:00]
[In reply to Tony Warrick]
You just started it?
Tony Warrick, [04.01.21 13:01]
[In reply to Jay Hay]
The project is new and we only put the code public recently
Tony Warrick, [04.01.21 13:01]
We work internally as a team vs via github
Jay Hay, [04.01.21 13:01]
[In reply to Tony Warrick]
Gotcha
Jay Hay, [04.01.21 13:02]
What mechanism will drive volume? I assume that rewards are generated that way
Tony Warrick, [04.01.21 13:04]
[In reply to Jay Hay]
Really all of the features together help drive volume. But those alone need other things assisting them like, promotions, marketing, community and a great team. We have most of those things going and are working on delivering more constantly. We are very young, but have already came along way.
Tony Warrick, [04.01.21 13:07]
I am sure all watching can see that we are battling a few specific people trying to make us look bad by ddos on our site. That issue will be resolved, they are good at what they do and are trying to extort us. But we will prevail, the good thing about defi is all actions are done via blockchain and just ddos a site cannot stop the movement.
Jay Hay, [04.01.21 13:09]
[In reply to Tony Warrick]
You have cloudflare?
Tony Warrick, [04.01.21 13:09]
[In reply to Jay Hay]
yes, they are working around it
Jay Hay, [04.01.21 13:09]
They’ll get bored and you can always go do an explainer on how to directly access smart contracts without UI if needed. Takes their power away
Shappy 🚫, [04.01.21 13:11]
Yes, a malicious actor is playing with young tokens and try to extort them by DDoSing their website. TryFinance will give nothing and they are already about to put back their website online, very soon. This script kiddie should focus on actual scams instead (nonetheless kudos for doing it to the Rift scammer)
Tony Warrick, [04.01.21 13:12]
[In reply to Shappy 🚫]
One fix we will do is host on a few other domains, they cannot battle multiples.
Tony Warrick, [04.01.21 13:12]
back up and back up
Shappy 🚫, [04.01.21 13:13]
maybe hosting it on IPFS behind CloudFlare would solve the problem for good, just a thought.
Tony Warrick, [04.01.21 13:14]
[In reply to Shappy 🚫]
Yes, it will just take a little time to complete all fixes but afterwards we will be much stronger.
Crypto94| Owner of Infinity Gainz, [04.01.21 13:16]
Tell us the token metrics:
How much did you raise?
What percentage of Ether Raised did you add towards the liquidity?
Circulating supply?
Total supply?
Presale price in USD?
Tony Warrick, [04.01.21 13:17]
[In reply to Crypto94| Owner of Infinity Gainz]
Let me answer that.
Tony Warrick, [04.01.21 13:19]
Tokenomics-
100,000 TRY — Total Supply at launch Now under 96000
60,000 TRY — Presale
29,700 TRY — Initial Liquidity
3,600 TRY — LP Farming Rewards
5,000 TRY — Marketing, Promotions and Community Engagement. (50% locked for distribution over 150 days)
1,700 TRY — Team Tokens
We raised 300 ETH in around 1 hour.
60% was provided towards liquidity and is safely locked for buyback purposes
Presale price was 1 ETH = 200 TRY ($4.00)
Crypto94| Owner of Infinity Gainz, [04.01.21 13:20]
So what is your current circulating supply?
Tony Warrick, [04.01.21 13:21]
[In reply to Crypto94| Owner of Infinity Gainz]
I was just calculating a more exact figure for you
Tony Warrick, [04.01.21 13:22]
The circulating supply is more around 90,700 but over 19,000 is already in staking. 2500 is locked for marketing and 3600 are farming rewards that distribute over 12 months.
Tony Warrick, [04.01.21 13:23]
I think that having the supply total being over 90% circulating allows for proper value increase, as there is no inflation to damper that.
Crypto94| Owner of Infinity Gainz, [04.01.21 13:23]
[In reply to Tony Warrick]
Can we currently stake or we need to wait out the website to back online?
Crypto94| Owner of Infinity Gainz, [04.01.21 13:24]
What is the minimum amount of TRY needed to stake?
Tony Warrick, [04.01.21 13:24]
[In reply to Crypto94| Owner of Infinity Gainz]
You can stake via etherscan and right after this AMA I will personally draft then post a document on how to do so via our news channel at @tryfinance
Tony Warrick, [04.01.21 13:24]
[In reply to Crypto94| Owner of Infinity Gainz]
0.001
Crypto94| Owner of Infinity Gainz, [04.01.21 13:26]
[Forwarded from TRY Finance | News]
[ Photo ]
CoinGecko request has been submitted!
Crypto94| Owner of Infinity Gainz, [04.01.21 13:26]
Your volume is $1.4 Million, when Coingecko listing? Have they replied yet
Tony Warrick, [04.01.21 13:26]
They have not replied but I am sure they will soon when they see that volume.
Crypto94| Owner of Infinity Gainz, [04.01.21 13:27]
I will
Open the chat for 1 minute so people send in their questions. Please select 2 Questions.
Each question is worth $50
Tony Warrick, [04.01.21 13:27]
I think it’s also important to note that our chart shows that we beat off the initial post listing dumps that most projects suffer. Our mechanics helped a lot with that issue.
Crypto94| Owner of Infinity Gainz, [04.01.21 13:28]
Chat will open for AMA questions
Republic and Freedom, [04.01.21 13:29]
Some DeFis projects are not friendly to listing on centralized exchanges (such as rebase-based ones). Are you planning to extend TRYFinance trading to Tier2, 3 or 4 centralized exchanges?
ANGEL | TheMoon, [04.01.21 13:29]
I want to ask about the web, why can’t the web try be accessed? Problem coding every homepage why still use (.html)? I got directions from my teacher, If something like that, I must be careful in choosing to invest or follow the project. And my teacher suggested (.php) because most likely it is a really good project, because all to gain trust starts from small things.
Tony Warrick, [04.01.21 13:32]
[In reply to Republic and Freedom]
I love this question.
You hit the nail on the head! Most current defi are no able to handle CEX exchanges as their functionality is detrimental to this.
We built our code so it can not just handle CEX listing it can also still incorporate the sell fee by taking that portion when sending to the exchange wallet. We took the time to install the proper logic and set up to ensure that our token could work with not just swaps but also CEX listings.
We know that some hate CEX but we wanted to give that option as well.
Shappy 🚫, [04.01.21 13:34]
[In reply to Happy New Year 2021 🎇]
Maybe I forgot to mention that but I had a talk with the team and we decided that blacklisting addresses will no longer possible.
Tony Warrick, [04.01.21 13:35]
[In reply to Shappy 🚫]
I confirm this, it was installed for an honest reason, but you made me realize more on the grasp of it.
Shappy 🚫, [04.01.21 13:35]
The new contract that is coming as an owner will no longer be able to blacklist anything and currently they need my signature to blacklist any wallet, which I will not sign.
Tony Warrick, [04.01.21 13:36]
[In reply to Shappy 🚫]
To note the new contract is not a new token, just a contract that will have the only access to perform write functions and those functions will not have any ability to effect the token in any bad way.
Brian Barnett, [04.01.21 13:36]
[In reply to ANGEL | TheMoon]
Hello, you can’t access the website because it’s been under DDOS attack for the last 20 hours or so and it literally kept our team up all night to solve the issue, as well as the teams of hosting providers and Cloudflare, I assure you we are the last people to want to be in that situation but we are doing everything possible and discussing all options with many professionals. What’s important, everything about DEFI happens on-chain so the attack harms nobodys funds.
Tony Warrick, [04.01.21 13:37]
Thank you so much for this AMA reno
Brian Barnett, [04.01.21 13:37]
[In reply to Kartika]
Thanks for having us guys :)
Brian Barnett, [04.01.21 13:37]
it’s a pleasure
