AMA with Papito from Degener Money!
On April 6th, we had in our telegram our friend CryptoPapito and his team hosting an AMA. Degener Money is an Instant yield token on Binance smart chain with an NFT twist. He answered all of our questions in a very professional way.
Here you will have the chance to read the AMA again if you missed it…
Intro
~ Can you please introduce yourself to our members Papito? Tell us a bit about your background in crypto.
Papito: “I’m a web developer with a degree in business information systems. I found bitcoin in 2016 and my passion for blockchain technology made me get into bitcoin mining which was my main job from 2016- 2020. Within that time i decided to dive deeper into blockchain tech and go full crypto by becoming a self taught bitcoin miner and blockchain developer.”
~ How many people are in the team at the moment? How long you have been working together?
Papito: “The Degenerate money team is a team of Developers, Artists and sound engineers. I, the lead dev has 6 years experience in programing and web development while our lead Artist has 12 years of experience in Graphic design, and our Sound engineer has 8 years of experience in sound design and music production. All these skills and experience came together and gave birth to the DEGENR NFT Farm. I’ve known most of the team members for quite sometime, I am the only one with extensive knowledge in crypto while the others are full time graphic designers and Musicians.”
~ Have you guys work together in the past?
Papito: “Yes, we have on Art and music but this is the first time we’re coming together to work on something Crypto related.”
~ Can you explain what Degenr Money is? Who came up with the name?
Papito: “The term degenerate money is derived from mathematics, a degenerate case is a limiting case of a class of objects which appears to be qualitatively different from the rest of the class. In other words, something different from the others. And since we’re the first RFI fork on BSC with a working NFT farm and marketplace, i thought it was perfect as we are indeed different.”
~ What makes $DEGENR different from other NTF projects out there Papito?
Papito: “What makes DEGENR different is the fact that we are the only NFT farm that seeks to solve the issue of non-artists participating in the NFT economy. Most people don’t know how to design NFT’s that are striking and pleasant to the eye but they still want to participate in the NFT economy, their only option would be to buy NFT’s and resell them for some profit. This is where DEGENR comes in, at DEGENR you don’t have to be an expert graphic designer, all you need to do is stake DEGENR tokens in one of our NFT farms and you can get a constant stream of NFT’s you resell on the market place while still holding on to your tokens. The platform basically serves as a Art subscription service for NFT collectors. We’re also the only ones sending out physical copies of NFT’s at the moment.”
~ Can you explain the tokenomic behind $DEGENR and how your investors would profit from the NFTs?
Papito: “The $DEGENR token used in the NFT farm is a yield token that rewards holders by taxing sellers 7% on every transaction and redistributes 4% of that back to holders while the other 3% is burned making it deflationary. As an investor, by holding DEGENR you earn passive income. As an NFT collector, by staking DEGENR you get a constant supply of NFT’s you can sell on the market.”
~ Do you have a marketplace at the moment for your NFTs?
Papito: “Yes our marketplace is live and users are already selling and even swapping NFT’s. Any one can mint on Degenr and sell for profit, and since we’re on BSC, it’s extremely cheap to mint NFT’s on DEGENR compared to ETH based platforms. Above is a preview of some of the NFT’s on our platform”
~ Tell us a little bit more about your partnership with Lightning Protocol, we had Lucas yesterday here.
Papito: “Shout out to Lucas, great guy doing a very good job over at Lightning Protocol. Our Partnership involves us creating LIGHT themed NFT’s that are exclusive to our collaboration and can’t be found anywhere else asides DEGENR MARKET PLACE.”
~ Any new upcoming partnerships you would like to share with us?
Papito: “Yes we do have 2 upcoming partnerships with active communities but i can’t disclose until the ink is dry.”
~ What is your marketing strategy to grow your project?
Papito: “So far we have set up ad banners on GoSwap, the popular charting platform a lot of users use to view charts. We’re also setting up ads on popular places like BSCscan. The biggest marketing push we’re currently working on, is getting a very popular Grammy nominated artist to launch NFT’s on DEGENR marketplace”
~ Are you looking to expand the team if the demand keeps going up?
Papito: “Yes we are, we’re welcoming new artists to our platform this week, and will keep expanding”
~ What is your long term goal for Degenerate Money?
Papito: “So far since we launched here’s what we’ve achieved so far:
- Peaked $2.7 million market cap
- Surpassed +700 holders (excluding those staked in the smart contracts)
- Partnered with Apoyield($SOUL), SuperPepeBros(SPB),Olympus Yield ($DUSA) and Passive Income ($PSI) , LIGHTNING protocol and BSCDOG
- We’ve added 7 new Artists earning Income on Our platform
- Almost 10 million $DEGENR staked in smart contracts (about 30% of total supply)
- Over 4 million DEGENR burned (about 1+0% of total supply)
- Over 5.3 million DEGENR redistributed among holders
- New Website design as well as New NFT farm UI
- Over 70 NFT’s sold out
Here’s what we have planned next:
- More partnerships for NFT farms, this will lead to more tokens staked and less sell pressure
- More Artists added to DEJUNGLE, we are aiming to have over 1000+ artworks in DEJUNGLE.
- We are already listed on LiveCoinWatch and Blockfolio, and Yes we’re working on getting us on CoinGecko and CoinMarket cap as soon as possible.
- DEGENR pairs getting listed on yield farms for those who want to stake and earn tokens instead.
- Sending out the first batch of physical copy requests.
Here’s what we have planned next
More partnerships for NFT farms, this will lead to more tokens staked and less sell pressure
More Artists added to DEJUNGLE, we are aiming to have over 1000+ artworks in DEJUNGLE.
We are already listed on LiveCoinWatch and Blockfolio, and Yes we’re working on getting us on CoinGecko and CoinMarket cap as soon as possible.
DEGENR pairs getting listed on yield farms for those who want to stake and earn tokens instead.
Questions from the Community
@goldenhorseshoe: Is there a designated person in charge of social media? This would allow for continuous engagement with the public on tg, twitter, reddit, discord, etc.
Papito: “Yes we hired a social media manager, expect more social media activity in the coming days and weeks”
@MatthewMcrypto: Is the team doxxed? Any Audit coming up?
Papito: “I‘m doxxed to Downsin but not doxxed to the public, and concerning an Audit, our NFT farms don’t mint tokens, they mint points and those points can’t be sold, they can only been used to redeem NFT’s. What i’m trying to say is our code cannot be exploited cause there’s nothing to exploit, we are not a yield farm and don’t have mint or migrator functions in our code so we really do not need an audit as there’s nothing to audit. As for the DEGENR token code, it follows the standard RFI, just like every other RFI token. Anyone can look at it and understand it in a few minutes.”
@MatthewMcrypto: Where’s most of team located?
Papito: “We’re scattered amongst different continents, We’re in Europe, Asia and Africa at the moment”
@florin1995 What are your plans for the future of the project?
Papito: “We’re looking forward to DEGENR being the home for NFT collectors on Binance smart chain, where they have a wide variety of artworks from various artists they can keep listing on the market place for profit while also benefiting from the yield they get for holding the tokens.”
Links for Degener Money:
Web: https://degenerate.money/market/l/
Twitter: https://twitter.com/degenmoney
