Rootkit Finance AMA with Smart Chain Apes
We were honored to have Rootkit Finance over for an AMA with our group. One of the best projects out there joined us on Tuesday to explain their future ventures. The team was very professional and polite about all our questions.
Here you will have a summary…
AJ: Hello and thank you to all of our community members who are joining us for this AMA with Rootkit Team!
Professor: “Thanks for having us.”
AJ: ~ Can you please introduce yourself? What is your background? When did you start crypto and for how long you know the rest of team?
Professor: “background — generalized tech and gaming nerd
crypto start — there was only bitcoin back them
how long known team for — vaious, There is some new team members I have known less than a month. Some for a few years, and 1 that goes back too far to be specific.”
AJ: ~So i’m assuming you’re familiar with most of them. How many team members are involved on upBNB at the moment?
Professor: “We pretty much all work on everything, and jump around a lot. Theres always so much to do and never enough time. I would say there’s 5 of us who have BNB as our primary focus right now”
AJ: ~ Are you guys located in the same time zone?
Professor: “Some of us are, but don’t want to comment on too much …. it’s weird to balance being an anon with being someone who’s always hyped up”
AJ: ~ Any of the team members doxxed? Privately doxxed?
Professor: “Yeah a bunch of people know who I am at this point… often need to use real connections to set up meetings … then i just drop who i am right away and usually people are like WTF you????
Yeah its always funny … I think a good point is that due to my terrible writing and communication abilities. if something bad happened and I was accused me of being ponzo it would likely be really obvious if they were telling the truth or not”
AJ: ~ How’s the upBNB MGE going on so far? What should we expect from this?
Professor: “Looking great we crossed the 1000 BNB mark recently. what to expect is volatility and and overall up trend of the price because of our systems mechanics.
trying to think of a good example to give…
the TLDR for upTokens and ROOT is simple enough if your crypto knowledge levels are high enough
perma locked liquidity + fixed supply token = easy to calculate price floor
we have a token wrapper that can calculate the price floor and extract the underlying ….. we then use it to buy
so it cycles the same money through the market in an up direction multi times without ever needing to sell”
Señor: “Also on this point for AJ and everyone else — a close friend of mine is one of those people who knows Ponzo, he says she can be trusted without a doubt”
AJ:~ Is there a cap on how much we can invest on upBNB?
Professor: “No because people can just multi wallet for raises on expensive chains like ETH we might put in a per address limit. because its not just about limiting how much someone gets. its more fair to force them to pay the same fee ratio per transaction…. its 1 whale advantage thats hard to remove.
I’m still more of an ETH person than a BNB person to be honest…. but facts are facts and ETH is unaffordable and unusable for a while now for most users.”
AJ: ~ I saw that there will be rewards for top investors on upBNB. What kind of rewards are talking about?
Professor: “We’re been wanting to do NFT’s for a while but needed a real use for them and wanted to make it good
Everything is subject to change on a whim but the plan for our BSC series and hopefully all the others is the same
There is 2 versions of each NFT, common and rare
Only the common one is given out
About 350 will be claimable at release, and 69 will be awarded to our top volume producers
If a user gets 5 commons and combines them to make the rare…. they can stake the rare for rewards
Everyone who stakes a rare will receive a split a 1% group buy …. similar to how referrals share a 2 % group buy.”
AJ: ~ Are you planning on having a marketplace for NFTs in the future for other upTokens?
Professor: “I don’t think every MGE will get an NFT, but all the majors will…. not sure if we will have our own market or not… theres a ton of stuff happening for us so it might make more sense to just use existing ones as this isn’t our main focus.”
AJ: ~ Are you planning on having other MGE after this?
Professor: “Yes I want them to be constant… literally hundreds … no joking even a bit.
The goal is to recreate 2017.”
AJ: wow
Professor: “The same money show flow from market to market and force everything to trend up. Thats why people need to not be greedy taking MGE profits …. just get out with 10–20% extra, then on to the next one so we roll the same money into MGE after MGE and leave a trail of permanently liquidity locked markets behind us just play along and slowly build your MGE bag while slowly collecting the leftovers in your moon bag collection.”
Señor: How often are you capable of executing the buybacks? how do you decide when it is best to do them?
Professor: “Very often due to many reasons …. good example is some fuckers just crushed our momentum on the upTether buy back (not cool bro, like fuk you and stuff).
But because we added a fat fee after the pump we sucked 10% of that back in for the next time.”
AJ: ~ We see some movements on the price, did the buy-backs happen already on upUSDT?
Professor: “The only 1 I did so far was the 42069 buy back. have at least 5 more that size loaded up.”
Señor: What was your motivation behind removing the vesting period on the second MGE?
Professor: “Exe told me to. I’m an expert at mechanics but in the end the social layer is more important and i generally over engineer everything.
I stand by the fact the group system is amazing …. but i cant deny the fact that exe prediction was 100% correct. He said everyone would go group 1, it didn’t matter there was 3 options they would all think 1 was the best. he can predict user behavior very well, i have enough to think about so if he says he’s sure about something i try to go with it these days, unlike before when I was much more difficult. I’m still difficult, but I’m trying (sorry to team mates who I drove to insanity).”
AJ: ~ What makes upBNB different from the previous projects?
Professor: “In the end we want all releases to be almost the same, but all our first ones have something unique about them as we hunt for the perfect settings.
For BNB it’s our first chance to play around without fees.
our system is very complex … We’re talking 6 contracts all linked of and fee cuts going in weird directions and variable taxes and defi functions.
Id use to laugh so hard at my $100 + per tx pumps but it eventually hit me hard that no one can afford that
when i launched our system and set it up on BNB I was legit sick with how fast I got it all done.
launch launch launch … 6 contracts in 5 minutes for a few bucks
tx tx tx … 20+ set up transactions in 10 minutes for another few bucks
ETH is 5k-10k to set up a ROOT system right now depending on gas prices”
AJ: Low fees are a must right now.
AJ: ~ How does the referral system works for upBNB?
Professor: “I’ll answer 1 sec … i want to post an important pic that explains how the sweep words to get us free pump money
To create the price floor you need 2 things:
Fixed supply token + perma locked liquidity.
Once you have that the picture above becomes relevant ….That’s how we get the value out from below the floor.”
Professor: “Really proud of our ref system … it requires no buy in to participate. We take 2% of all collected money and market buy BEFORE the main 77.77% group buy both the referral and the referrer get “points” equal to the contribution. If you self refer it goes to dev cuz we cant reward lazy sneaky but you can refer a second account requiring no initial contribution means that people from poor countries can put in the shill work and fucking make it hard in just a couple days.”
AJ: ~ What is your short-term marketing strategy to grow the project and keep it sustainable long term?
Professor: “I’m just dev focused …marketing wise the others are on it and they are very independent and good at what they do for sustainability we have multiple solutions but theres no way to know for sure… anyone who confidently tells you they have a bear market plan and their token wont lose 90% value is wrong and lying to both themselves and you
My favorite solution is just as insane as planning to launch 1000 tokens … TLDR coming, so say we launch 1000 upTokens across 20 chains and literally use every token as a base pair well the big issue is when the bear market comes all those garbage base pair tokens are going to die slowly, and if things are not going up then upTokens don’t work as well, so what do we do ?
Remember 1000 tokens will mean we control a lot of value, as well as some of every token
Evil plan time..
- select market to shut down
- put value into lending protocols
- borrow whatever we can
- giga short with borrowed value
- remove liquidity and dump
- pay back short
Pay out all holders with the liquidity value + the profit from the short, get all our users out at the top.”
Questions From the Community
- Question from @root4lyf
“What is the ideal way the ecosystem has been designed to be used simply? How do we all make the most money we can?”
Professor: “The whole system is designed around the fact that its super fucking hard to make it as a pleb with a low starting stack … so just follow the plan and if enough of us do it we cant lose.”
- Question from @yodawithasoda
“Are people who come from BSC aware of the MGE success of the first launched upToken upUSDT which is tradable on uniswap right now…”
Professor: “How to participate guide, TLDR edition
pleb, just MGE
whale, 50/50 MGE / pumps
take out initial + 10%
keep rest as moon bag
use value to enter the next MGE
slowly grow main bag
slowly increase moonbag collection.”
- Question from @Ov3r4LL72
“How will a token be chosen to be included into the “UP” ecosystem”
Professor: “Right now its just the team… but we want our direction to be controlled by ROOT voting after a while.
The goal is that people figure out that if they all buy root they indirectly vote to have us “up” their bags.”
- Question from @Xamav
“Does it mean that these MGEs don’t lose value?
If people stop investing in them, how will the uptrend be sustained?”
Professor: “Theres a ton of complexity burred in here, it’s not that simple or direct in this case. We create profitable opportunities for traders to use as they always do, to take each others money. As long as there is traders who want to do that, we can create the situation. Trades want volatile markets… so we make them… tell them when and where… and then extract value so we can create the next one.
The volatile market is the product.”
- Question from @yodawithasoda
“For how long is the 10% anti-sell taxation going to in place?”
Professor: “Likely 420420 seconds cuz it’s easier to use memes than make decisions.”
- Question from @d10
“What is the teams goal for this year or even this bullcycle? We know the professors personal goal, but what does the team want to achieve?”
Professor: “**and here we make the professor look inward and face the same truth again, other than get rich, they don’t know, m so bad with people and communicating, this weirdly gave me more perspective on what I’ve been realizing more and more lately … I’m just eyes on the prize and a lot of the time nothing else matters.”
AJ: @ProfessorPonzo Thank you for your time today. It was very nice having you here.
I’ll wrap it up here since your schedule must be very busy at the moment.
Good luck on your journey!
