Shibnobi AMA Meeting with CEO Cliff Fettner 11/17/2022

Shibnobi AMA Meeting with CEO Cliff Fettner 11/17/2022

-V2 LIQUIDITY EXPLANATION: Some of our holders have expressed concerns about the liquidity pools of V2 being much smaller than they were in V1.

Prior to launching V2, the team compared other projects’ liquidity pools and noticed that the percentage of their assets in liquidity ranged from 0.1% to 6%, and averaged between 2% and 4%. When V2 was launched, we decided to start with 7% in liquidity.

The remaining liquidity has been set aside for project growth, buybacks, and future tier 1 / 2 exchange listings. Some of it was also injected into Shibnobi Swap to incentivize trading within our own ecosystem.

-PRIVATE SALE VIOLATION: Unfortunately, we had more private sale participants of the original ETH Shinja token dump yesterday. In Shinja V1, 13 of the private sale participants requested to have their vested tokens airdropped to a new wallet. Cliff had forgotten to add these 13 wallets to the sell limit list, and made an error when calculating how much they could sell per transaction. A few of them took advantage of this. However, the issue has since been rectified, their wallets have been blacklisted from selling their remaining Shinja tokens, and Cliff has been conducting buybacks to help compensate for the drop in price.

-SHINJA DAO SITE: Our DAO site is now LIVE! Visit dao.shibnobi.com to view and vote on any existing proposals, or submit your own!

Remember, each submission requires the proposer to burn $25 worth of Shinja. The team will then review the proposal for legitimacy, and release it to the public to vote on. Voters will then be required to burn $3 worth of Shinja in order to cast their vote.

-SHIBNOBI ANALYTICS: Shibnobi Analytics (analytics.shibnobi.com) has been updated to a new version. This gives the UI a much cleaner look, and a more responsive output.

-NEW SHIBNOBI SWAP LISTING: We have a new listing on Shibnobi Swap that is expected to go live tomorrow! The developers will also be joining us on tomorrow’s AMA at 4 pm EST. Tune in to find out who it is!

Open-Floor Q&A

Q: Shinja V2’s Deployer wallet is holding considerably more of the supply than V1’s Deployer wallet had? Why is this?
A: The tokens in V2’s Deployer Wallet (0x4e433f32e739f5dbb5f2e6955460e08a627815e3) are currently being used to supply CEXes with V2 tokens. After each CEX has received Shinja V2, some of the remaining tokens will be locked away to be used for future exchange listings, giveaways, etc.

Q: Shinja V1 had over 50% of the supply burned before trading was stopped. Why haven’t we burned the same amount in V2?
A: Most people in crypto are under the misconception that burning tokens will increase the value/price, but this is simply not true. In reality, burns only reduce the supply, and lower the market cap. The value does not increase through burning tokens unless the demand for them is greater. Instead of trying to quickly burn through our supply, we’re going to be using these tokens for more important things, such as replenishing the liquidity of CEXes that we’re listed on. Burns will still occur, but it is not one of our priorities at the moment.

Q: When Cliff has finished sending V2 tokens to exchanges through the Deployer wallet and locks the remaining tokens away, is it possible to use ENS (Ethereum Name Service) to identify those wallets and mitigate confusion?
A: The tokens will be locked away in locking services (Team Finance, PinkLock, etc.), so this may not be possible.

Q: Has the team decided on the rate of rewards for staking NFTs in our upcoming staking platform?
A: There will be different APYs depending on the length of time you stake for. We’ll disclose that information closer to the launch of the staking platform.

Q: If we decided that we no longer wanted to burn tokens, do we have the ability to change the taxes?
A: Yes, we have the flexibility in our new V2 taxes to change the percentages. We can do this independently on either chain, and can even use our new DAO site to let the community decide.

Q: Will we be able to unstake from versestake.shibnobi.com on November 22?
A: Cliff will consult with the team, and will hopefully have an update by the AMA on November 21.

Q: When will the dollar value of Shinja V2 start showing in our wallets?
A: We have submitted the update requests to CoinMarketCap and CoinGecko, and this process typically takes about one week to complete. Once they have updated our information, Etherscan, BSCScan and DeFi wallets should start displaying the dollar value of Shinja V2.

Q: Since the team has delayed the launch of Shibnobi Chain, what changes do they plan on making to it?
A: Given the current state of the market, and how many blockchains have been introduced recently, we decided to delay the launch and evaluate the features already present on existing networks. We believe that offering new and enticing technology with our blockchain will ultimately lead to its success.

Q: Does the team have a rough estimate on when Shibnobi Chain will launch?
A: We are now planning on possibly having the initial version launch mid-2023. Before that, we will likely hold seed rounds to raise funding for sustainability and improvement of the network.

Q: Are NFTs still BOGO (buy one, get one free)?
A: Yes, and you still have time to reach one of our thresholds (50, 35 or 20 NFTs owned) to earn free Credits+ AND early access to buying land in Verse!

Q: Will Shinja V2 be listed on SafeMoon Swap?
A: The team is still debating this, as there was some suspicious activity that seemed to be going on with Shinja V1 on their platform.