Segment 1 : Introduction
1. Can you please introduce yourself to our community and please tell us a a quick summary about Bunicorn ?
Ans- I’m Phuc Nguyen Founder & CEO of Bunicorn. Here are some highlights about me:
Former Google Summer of Code participant
Samsung Smart App Challenge winner
Former Researcher of NASA Ames’s Java PathFinder project
Former Project Manager at DeNA, a giant game company in Japan
Co-founder & COO of a leading blockchain development firm in Vietnam & SEA with hundreds of blockchain & Dapp engineers
Former CTO of a centralized exchange under Signum Capital & Bitmex’s portfolio
Like most of you, I joined the crypto space in 2017 and have participated in a lot of projects since then. I have hands-on experience in scalability & security for the centralized system in general and exchanges in particular. I have been working on decentralized projects from the protocol to the application layer.
stands for Binance Unicorn, so we aim to become the next unicorn/uniswap on BSC.
Bunicorn is an all-in-one BSC-powered Defi platform that offers the following services at launch (May 2021):
- Generalized AMM pools with up to 8 tokens, any weight
- Super low slippage & high capital efficiency pools for stablecoins
- Innovated Yield Farming with a reward vesting model wrapped in NFTs
- And many to come shortly.
In other words, we provide all the missing parts of Pancake swap plus NFT.
2. What are the advantages of your project and who are the competitors for Bunicorn ?
Ans- We have many outstanding features that can outrace other DEXs on BSC:
- Flexible AMM pools with a customizable number of assets and weights within a pool. This simulates a real index fund in real life. It also mitigates the risk of exposing too much capital to a high volatile token like traditional uni/pancake 50:50 pools.
- Amplified pools that allow trading between stablecoin pairs with lower slippage and deeper liquidity.
- Smart order routing that automatically split your swap across several pools for optimized price.
- Dynamic fees adjusted base on the underlying volatility to optimize returns for liquidity providers and reduce the impact of impermanent loss.
- No third-party or centralized oracle risks.
- Liquidity providers can also join multi-token pools with a single asset.
- New innovated yield farming model that vests the earned reward and wraps them into NFT collectibles.
3. Could you please provide some progress on your Roadmap and what results Bunicorn has achieved so far? And any sneak peek into 2021 plans for Bunicorn?
Ans- We have finished the first phase of our product roadmap which offers:
- Smart AMM Pools controlled by smart contracts allows dynamic swap fee, customizable number of tokens & weight
- Amplified pools for trading stablecoins with super low slippage and higher capital efficency.
- Yield Farming + NFT reward vesting
You can take a sneak peek at our testnet build here: https://staging.buni.finance/
The full roadmap is available here FYI https://buni.finance/ But here are some highlights in the futures:
- We’ll make NFT vesting tokens that have already been completed in phase 1 to become collectible bunnies and build a marketplace so you can exchange/auction them.
- We’ll be having a Governance system, so that Buni token holders can lock up the Buni to vote, earn the trading fee profits, buyback, and burn BUNI tokens.
- To have other Defi products such as Lending & Flashloand added to the platform soon as we’re working on it already.
- We’ll have a bridge to Polkadot substrate & para chain ecosystem in Q1 2022. We’re proud to have Thi Truong (Founder & CEO of PolkaFoundry) as our executive advisor. PolkaFoundry is one of the top 5 projects of Polkadot ecosystem to date.
4. How has the experience and background of your team been effective in the success of your project so far?
Ans- We started with a group of more than 10 developers and have been working fulltime on this project almost a year now. As I shared earlier about my background, so we have been working in this industry for quite a long time and have been through all the up&down of the market. We participated to both infrastructure projects and a bunch of Defi platforms before.
We’re also very close to the Kyber & Polkafoundry team, they helped us a lot with our research and development so far. And finally, we managed to get our project up and running to this point.
5. Could you please elaborate more about your tokenomics?
What’s the total supply and what kind of plans do you have regarding the token unlocks in the future?
Ans- We have 1 billion BUNI in total supply. The initial circulating supply is quite small though. You can take a look at this documentation for the full tokenomic & release schedule. Onepager: https://docsend.com/view/trf4ufqcrh4wm73j
Segment 2 : Twitter
Q1. Twitter ID : ( @Wormz29 )
Bunicorn is an AMM DEX modeled and built on BSC. So Aside from joining BSC because of its thriving community, may we know what are the other reasons why you chose building BUNICORN in BSC Network? Also what innovative products & best services you want to build for BSC?
Ans- Not just because bsc has a thriving community. We wanted to build Bunicorn on BSC because of its lightning speed and lower fee compared to ETH. We’re gonna introduce these features at launch:
- Generalized AMM pools with up to 8 tokens, any weight
- Super low slippage & high capital efficiency pools for stablecoins
- Smart order routing & dynamic fee adjusted based on volatility
- Innovated Yield Farming with a reward vesting model wrapped in NFT collectibles.
Q2 Twitter ID : ( @Anurag0061262 )
How does $bunicorn compare to many yield farms offering a very high APY on liquidity staking, and why would investors choose it over other yield farming opportunities?
Ans- So firstly we innovated our AMM model so that it optimizes profit for the liquidity provider & reduces the risk of impermanent loss with flexible number tokens per pool, different weight & stable-coin only pools. For example, liquidity provider can stake their assets into stablecoin pools with almost no impermanent loss, they can also choose a flexible pool with 3 out of 4 tokens in their portfolio instead of contributing to a 50:50 pool in pancake with half of their asset is a high volatile token. This will be the main boost for TVL & yield farming.
Especially the stablecoin pools are amplified 100x, so that 1 million USD pool can provide the same liquidity capacity when comparing the slippage/pricing curve of 100 million USD pool in uni/pancake.
And because of the vesting schedule, the rewards will not be in circulating supply really soon. Thus, it’s easier for us to design higher APR plans. This is also the only way to mint new NFT collectible in our platform, the more you stake, the better its rarity, higher price.
Q3. Twitter ID :( @Kiran12211265 )
From a startup project to a mainstream project, being a pioneer in the industry, does the team anticipate that how many new startups will show up and compete?
Ans- Yeah even though up to this point, I think non of them has got popular enough with our similar services. However, the competition is tough for the future for sure, but we believe with our consistent in roadmap and the network of our backers & partners, we’ll still be the leader in a truly decentralized space.
Q4. Twitter ID : ( @cryptoboyy1 )
To be a great platform for both Investors and for it's users Transparency and security is important. Can you tell us some details about your transparency (likes team members) and your security mechanism. Have you already completed the audit of your platform?
Ans- We’re a public team, you can check out our information in the website https://buni.finance/ Our smartcontracts has been audited by hacken.io. We’re still conducting more audit both internally and externally by another firm before launching.
Q5. Twitter ID :( @Shajil63339338 )
What are the marketing strategies and what are the background behind the team and how you conclude project development ina closer scenario?
Ans- Well, our marketing strategies is to achieve these objectives
1. Improve branding of Bunicorn and making people aware about the project
2. Grow and engage with the community
3. Build strong distribution channels - KOLs, Reddit, 4chan, Twitter
4. Partner with marketing agency in each local market
We have Momentum 6 behind our marketing activities, and thanks to a wide range of partners in each local market like EncryptClub in China, Ellipti, Das Capital in Korea...
The background of the team has been shared before, so please check my previous answer. The product is ready in testnet and about to launch within this month.
Segment 3 : Free Ask
1. Dont you have plans adding deflationary mechanism in your platform? What is the total supply?Dont you have plans adding deflationary mechanism in your platform? What is the total supply?
Ans- Phuc Nguyen:
Total supply is 1B.
Along the way, the Governance system plays a crucial role in reducing the total supply and increase the demand for BUNI tokens. Buni holders need to lock their tokens to receive the profits from trading fees & flash withdraw/loan fees. The treasury will also use part of the earned fees to buy back and burn the token. This will dramatically reduce the Buni circulating supply.
We'll also have a bridge to Polkadot early next year as agreed with PolkaFoundry team. This will also reduce the supply of BUNI because half of the supply will be on the Polkadot chain instead of BSC.
The last part is NFT vested tokens. Because all of the BUNI minted from the farms will be locked in NFT collectibles, so it reduces the supply. Imagine a super rare NFT collectible worth millions USD of BUNI is locked up and this NFT token is valued and traded at an even higher price.
2. I wanted to follow your project for the long term. Where i can get all the latest news about your project? Do you have Twitter/Telegram/Discord community? If yes can you share the link here because there is a lot of fake telegram/twitter groups?
Ans- please follow our official channels:
Twitter: https://twitter.com/bunicornswap
Telegram Chat: https://t.me/bunicornswap_en
Telegram Announcement: https://t.me/bunicornswap
Medium: https://medium.com/bunicornswap
Website: https://buni.finance/
3. Partnerships seem to be very important. How’s the status of this project partnerships? Can you share some of the partnerships you have formed with existing blockchain foundations recently?
Ans- We’re about to close our private sales with ~40 VC want to join in such as PNYX, Digital Strategies, Magnus, MXC, JRR, Shima Capital, Coinmarketcap, QCP... to name a few
4. Do you have any Bug Bounty to check for weakness? In what way do you plan to make Your project more complete?
Ans- We’ll have a bug bounty program really soon. It’s to be announced in the next few days. Stay tuned.
5. Can you name your strategic advisors and how many team members you have?
Ans -We only have Thi Truong (founder of Polkafoundry) as our advisor now. The team size is more than 20 members.
