Fantomine AMA — RECAP
We’ve been in one of the biggest Fantom communities answering lots of interesting questions. Find all of them here
5table in its operation creates strategies where several stable coin farming and stake pools that belong to various underlying protocols are used. What parameters are analyzed in the underlying protocols to select the pools that make up the strategies? Is it analyzed in addition to APR/APY also the reliability of the platform?
That’s a great question
We analyze several aspects when we choose the farms and protocols we use in our strategy, but the two most important are the APR of the farm and the level of security of the protocol.
We check the audit that the protocol has, searching for potential vulnerabilities, but our dev team also does an internal audit of the protocol and the specific farm before adding it to our strategy
1. The 5Table idea is great. Are there plans to apply this idea (of finding the best staking or farming opportunities) to strong currencies that are not stable like BTC and ETH and thus benefit long-term holders of these currencies? That would be great and very innovative.
That’s a very good idea, and our team has already discussed it to implement that in the future.
But we are focusing on stablecoins for the moment. We might add BTC in the long term, but we still have a really really long way before that.
There is a huge stablecoins volume to attract. Only when we get to be #1 stablecoins protocol in TVL we’ll think about adding BTC, ETH or other major cryptocurrencies
2. In 5Table there is a dynamic that constantly changes the farming strategies to use the best options on the market. I would like to know if this dynamic change is done by people analysis or if it is done automatically by some artificial intelligence (AI) software that is constantly analyzing the options? If this action is carried out by people, can you tell us if it is done 24/7? In crypto scenarios can change at any time ðŸ˜‰
Our financial engineer is in charge of DeFi research and is constantly looking for new farms and opportunities.
We will try to not move the funds too regularly but instead, look around to the best ratio and efficiency to change the farms’ allocations.
Also, our security expert is regularly auditing contracts of potential farms and protocols in order to have everything ready and audited internally when we decided to reallocate funds
Comment — > FTM_MAXI
FTM_MAXI — It seems you have solid plans and are working on them! The project seems to be doing very well from what I can see in the chart and the website
Philip — Yes, totally. And there is a lot more yet to come. When we add the governance features the TVL will fly. I’m in contact with big personalities of Fantom, such as Owen from SpookySwap, and there are some big players about to join 5table
In a previous AMA you said that the number 574,873 (Supply) means the letters of 5TABLE = 574873, is curious and funny… So, does that mean that the Supply is not subject to change? what will happen when they have reached the maximum emissions of $5TABLE? Can you continue to earn $5TABLE on other farms? is interesting…
The max supply has already been reached, so no more $5TABLE tokens will be minted.
The profits of the protocol, which come from 4.5% performance fee on our stablecoin main vault, automatically buyback $5TABLE.
Everyone can earn that $5TABLE from the buyback in the $5TABLE Pool of our website
Almost all the profits of the protocol are distributed among the holders in the $5TABLE pool
1. The main goal of 5table is to create the best solution for stablecoin farming. Within the methods used to create the ideal solution, is cross-chain considered? If so, can you tell us which chains are considered for this purpose? If not, can you tell us the reasons why you avoid using cross-chain?
There will not be cross-chain strategies. But as we shared in our roadmap on Medium, we will definitely have a presence on multiple chains.
The only difference will be that the protocol will operate separately within each chain, both the token and the strategy (farms and protocol used for stablecoins yield)
2. Is there any way to know how the strategy that is used at all times is made? For example, which pools of which project are being used, what percentage of the funds is deposited in each pool, etc?
Yes. At 5table Finance we provide full transparency on everything.
The strategy with all the protocols and farms that we are using can be seen on the main page of our website. Look for the Dashboard page
Listing on the right exchanges especially major exchanges helps to increase the token price and is a form of Marketing. So Where can we buy Token and what plans do you have for listing on major exchanges (DEX and CEX)?
Our main liquidity is locked on SpookySwap, so you can buy there. We are already whitelisted. (And working on a 5TABLE-USDC farm, hopefully we can get that soon)
And you also can buy at Dark KnightSwap and DefySwap
We have a 5TABLE-FTM farm on Dark KnightSwap and a 5TABLE-USDC farm at DefySwap 💯
Do you have a minimum required % APR for the strategy to be approved and implemented? If you have a minimum % APR for the strategy what happens if the strategy performs less than expected?
There is no minimum APR for the farms we select. However, as I said, our financial engineer is always looking for the best opportunities across the whole network.
We can’t guarantee a minimum APY, but we can ensure that we will always be #1 and offer the highest APY on the chain
I see that you’re using DeFi launch for your presale. Can you talk about your experience working with that incubator? what benefits have you gotten while joining the fantom ecosystem and how does it allow you to hit the ground running with your launch?
DeFi Launch has been extremely valuable for us. We’ve been in their incubation program for almost two whole months before we launched.
They helped us build our tokenomics architecture. They provided assistance with their media partners, getting us both know-how and discounts.
We built all our communication channels with their recommendations. They provided two great mods to help us ensure 7/24 active presence on Telegram and Discord.
They facilitated our partnerships with Dark KnightSwap, Yield Parrot and DefySwap. And introduced us to SpookySwap
And of course, they hosted our presale which was a huge success as well
Will we have the opportunity to contribute by participating in governance at 5TABLE in the future? That is, can the community take part in the vote to approve designs or other innovative products in 5TABLE?
Yes. Actually, governance features will arrive much sooner than expected.
Initially we were planning to add some minor governance features around 2 months after launch. But we realized (and also some big players told us the same thing), that the protocol will have higher levels of security if we mitigate centralization around the strategy contract.
So basically, we will be able to add new farms to our strategy with 0 allocations, and then let the holders decide whether they approve or not the reallocation of the funds with a new farm on the strategy
This is a really big step to 5table Finance, and we are sure that this will allow us to join the big leagues and compete in the top positions at Fantom
What are the main reasons why you think you can achieve massive adoption?
Well, above providing the highest APYs for stablecoins in the whole network, we also worked a lot to offer an excellent user experience.
We make it easy for everyone, no matter if you are a beginner or advanced user
The UX and UI are clean and simple. There is no need to create an LP. Just choose any of the 5 available stablecoins, set it, and earn
We provide autocompounding as well, so the earnings are in the same stablecoin that the user staked
And unlike other protocols, at 5table Finance there’s no need to constantly check if we are still providing high returns.
We are constantly searching for the best opportunities across the network. So you’ll always know that you are getting the highest returns possible 💯
Will the protocol expand their stable coin portfolio to other network? If yes, any specific timeline?
Yes. Actually, we initially planned to launch 5table at BSC. But working with DeFi Launch we realized that Fantom is the place to be right now.
The best opportunities are in here, and that’s why we are able to provide such a high APY for stablecoins.
We are going multichain into BSC this month. The exact date is yet to be decided and will be announced accordingly in all our channels
The things about this that can be officially confirmed are:
✅ 5table Finance will go multichain on February 2022
✅ The next target is BSC
✅ The presale will take place at DeFi Launch platform
🚀 We’ll provide the highest APY on all the BSC
And will the tokenomics be just as good for BSC?
Yes, We’ll replicate the same tokenomics structure on BSC. Same max supply. No more tokens minted after presale. Automatic buyback with the profits of the protocol.