Gains Associates welcome Stone DeFi for informative AMA
Gains Associates is the worlds first decentralized VC with one of the biggest and most respected crypto communities we sat down with them for an informative AMA on all things Stone.
Session 1: Questions from Gains Associates host Ayeley Commodore-M
Q1 We are looking forward to an update on how things are going over at Stone. Please introduce yourself. What did you do before crypto and did you have any other previous venture in crypto?
I’m here representing Stone DeFi and very pleased to be here discussing Stone with you all today, let me introduce myself.
I focused on quality crypto projects with huge potential, obviously Bitcoin being the first and later Ethereum which is when I started to get more interested in smart contracts and now… Stone DeFi an emerging one-of-a-kind yield aggregator for creating ‘Rock Solid Yield’ for DeFi investors looking to maximize their yields.
With innovative asset pools securing assets and safeguarding liquidity provider returns. Stone DeFi provides continued innovation of the UI to the smart contracts across multiple chains including Ethereum, Binance Smart Chain and Polygon. Our team disciplines are diverse which enables us to develop cross platform solutions for the DeFi universe. We focus on quality networks and assets on Ethereum, Binance Smart Chain, Polygon and Polkadot smart contract platforms.
Q2 Alright. I see you have already told us about Stone. How long have you been working on it and what sets it apart from the competition?
As we know, cryptocurrencies emerged with the bitcoin genesis block message On Jan. 3, 2009 quoting “The Times 03/Jan/2009 Chancellor on brink of second bailout for banks”
This message leads many to believe decentralized cryptocurrencies to be a solution to the kind of problems that arise from traditional centralized financial institutions . The 2008 financial crisis being an example of one such problem.
I think it is fair to say bitcoin gave birth to the DeFi movement which is creating new ways of digital finance in a more transparent decentralized manner.
As a DeFi project, Stone is composed of several teams that focus on the management and delivery of the core product features, development, marketing and community. Our teams and members are geographically spread worldwide and very much focused on the development of the decentralized ecosystem.
Stone is the only yield management framework focused on creating Rock Solid Yield for all the users in the DeFi space.
Q3 What role does the token play in the ecosystem?
At this early stage the STN token is primarily a reward and liquidity provision for community and pools incentivizing portfolio rebalancing and cross-chain fee mechanisms will add to the fundamental utility of STN.
On Sept 30 we added STN staking on Ethereum meaning STN token holders can now stake STN to earn STN rewards concurrently with other quality token assets, compounding and maximizing yield and realization of returns.
Q4 What are some milestones achieved by Stone so far that you’d like to highlight? Also, can you tell us about the Stone single token staking and the opportunities it opens up for the community?
As mentioned already we added STN staking on Ethereum meaning STN token holders can now stake STN to earn STN
As you can see from the tweet there are some quality assets offering rock solid yield. Rock Solid Yield is priority given to quality assets that gives credibility of investments.
Q5 Stone has been trading for over 6 months now. With respect to your roadmap, what should we expect in the next weeks and months?
The next weeks and months are packed with activity for Stone DeFI, as you know Stone DeFI is available on multiple quality networks and our Rock Solid Yield strategy is based on quality assets, we have included the STN token asset staking on Ethereum and we will also make staking available on BSC and Polygon networks.
Session 2: Questions from Twitter followers.
Q1 How expensive is it to use Stone defi (gas, fees etc)? I don’t have too much venture capital, do you think this is an obstacle to enjoying the benefits? That is, what audience are you targeting and how easy is it for newcomers? any tutorial article or video?
Great question, Ethereum is so popular the innovation of smart contracts has lead to the development opening a whole industry and today there are many smart contract platforms, the transition to proof of stake in Eth v2 should ease gas fee obstacles which have arisen due to the demand and we are prepared and looking forward to the transition.
We also have integration with Binance Smart Chain and Polygon the interoperability with these PoS blockchain networks means Stone DeFi users can benefit from lower transaction fees today,
You can try Stone DeFI v2 on these networks simply connect your metamask or Token Pocket wallets.
There are several resources to help people get started.
Stone Defi Intro
Stone Defi is a multi-asset staking platform for users to participate in validating the respective chain, while at the…
Also feel free to join Stone Fortress if help using the interface is required
7 320 members, 870 online Stone.defi is a decentralized protocol for Yield Maximization. Follow us on Twitter for more…
Q2 There has been a great deal of testing and a code-intensive audit process to examine and improve the robust smart contracts at the heart of Stone DeFi. So can you tell us about the recent Stone DeFi V2 and if you plan to conduct any other audits in the future?
Stone DeFi is rock solid, the code audit which completed recently provides a comprehensive report. We call on the community to read the report and offer constructive feedback so our auditors can continually improve and help us all in providing a safe as possible ecosystem for this emerging technology that is reshaping the digital financial landscape. Stone is a movement to build smarter and safer yield farming practices.
We have announced a live bug bounty and it was reported on DeFi News.
The AMA session took time to hold a quiz with 3 questions about Stone DeFi for the community participants to answer.
- Quiz Question 1
Give the names of two wallets that can be used to connect to Stone DeFi?
- Quiz Question 2
Which 3 quality crypto projects with huge potential did I mention?
- Quiz Question 3
Name 3 blockchain networks in the Stone Ecosystem?
The community did a good job on the answers with many posting the correct answers before we moved on to the live Telegram community round where each person is limited to only 1 post with 1 question max.
With around 60 question I couldn’t possibly answer them all and during the session and as time was already over just two were picked to answer.
Q1 What is the max supply and what is the circulating supply?
how is the distribution of the STN allocation?
For tokenomics please see our stats on Coingecko they track this data very well for us.
You can also find some stats on Coinmarketcap for STN, markets etc.
With Metamask it is easy to buy sell and swap STN
Q2 I noted we can only connect our MetaMask or Tokenpocket wallet to try out the Stone DeFI v2. Will there be integrations of new wallets soon? Such as TrustWallet? Can we expect that?
We have a section in our documents on Wallets which covers Metamask browser and Token Pocket mobile wallet.
First, after installing MetaMask ( click here to install the plugin ), create a mnemonic account. If you already have a…
You can also use Metamask mobile version more wallets will be added as they become available.
I think you might be able to access Stone DeFi using Wallectconnect with trust wallet. I haven’t tested that but expect that it would be possible for quite a few wallets.
Thank you for all the great questions feel free to join us in the Stone Fortress Telegram and join us on Discord for future AMAs and giveaways.
For more details find us here:
Telegram Channel: https://t.me/stonedefiannouncements
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