Koala Defi x PolyCrystal AMA 08/31 Recap 💎🐨

Hey Crystal Crew! On 08/31 we hosted the second part of the AMA series with Koala Defi on the Crystal Crew’s home turf! We welcomed our friend Silfaster from Koala Defi over to our chat to answer some pressing questions about the project, and hang out with the Crystal Crew for a little bit! It was a lot of fun.

Please see the summary below of the answers to the great questions asked by the community!

Please tell us about the KoalaDefi team and your roles

Silfaster:

Of course!

Let me start with a proper introduction.

So I’m Silfaster, nice to meet you everybody!

You might have seen me around over at Koala Defi, I’m kind of all over the place.

I’m the community and partnership manager and part-time project manager.

About the team:

Silfaster koaladefi.finance onlykoalas.com, [31.08.21 18:09]

I’m so extremely proud of our team, we have achieved so much in the past couple of months and are only getting started!

Fun fact, tomorrow we will be having our 6 month anniversary! Time for a nice celebration with a big feeding frenzy (we call token burns, eating / feeding because of the horrible bush fire situation in australia, just doesn’t feel right to call it burning)

https://koaladefi.medium.com/meet-the-team-b76c813066d7

I think it’s best to check out our medium post, because there is so much to tell about the team and I’m afraid I won’t stop telling and bragging about them, I could go on for hours.

We have a group of skilled devs constantly cooking up new features and updates. Their work ethic is incredible! We have so much lined up for the next month I have to look at the schedule regularly to keep up to speed!

We have great moderators, come and say hi to them in our telegramgroup: @koaladefichat

Can you tell us about the features on your platform and all the ways users can use $NALIS?

Silfaster

Sure! Let me start with sending you an illustration that pretty much summarizes Nalis

So there’s Nalis!

Our high APR crosschain farming token filled to the brim with great features to maintain a healthy platform!

Nalis has a build-in auto burn to keep inflation in check, 2% gets eaten (burned) on every transaction.

This past monday we brought Nalis token from the BSC chain to the Polygon chain to join this awesome blockchain! So while we’ve been around for quite a while in Defi terms, we’re setting our first babysteps on Polygon and will not stop till we run full marathons!

Nalis can be used to stake in toptier farms, pools and bushes.

I think the first 2 are known by everybody in defi, so let me give you a short introduction to the bushes.

In bushes you stake our native tokens and earn partner tokens.

Silfaster koaladefi.finance onlykoalas.com, [31.08.21 18:20]

we are very proud to have PolyCrystal as our first official Polygon partner guys

And sorry, not sorry, but since we’re on the topic of awesome tokens. I’m going to steal some time to tell you about another sweet one

I’ll keep it very short!

We heard you have some exciting upcoming features and releases, could you share some of them with us today?

Silfaster koaladefi.finance onlykoalas.com, [31.08.21 18:24]

I don’t even know where to start king!

So let me start telling you what we have planned for september!

Silfaster koaladefi.finance onlykoalas.com, [31.08.21 18:26]

Of course we have a BIG focus on growth on the Polygon chain!

We will be announcing multipe partners every week!

And you know what’s really important for a crosschain platform? A reliant bridge service to easily swap Nalis tokens between the BSC and Polygon chain.

So our devs are currently on a diet of coffee and eucaLYPTUS pizzas while working their cute furry asses of building the KOALA DEFI BRIDGE!

We believe defi should be as decentralized as possible and don’t want to rely on third party dapps, so we are doing it ourselves!

Next up we have the NFK to get introduced in the first half of September, the NFK are our own functional and gamified Non Fungible (cryptopunk) Koalas!

Little warning, it’s flashy! But I can give you a preview of the awesome NFKs our team is cooking up

First of all we’re not only a yieldfarm, but we also do project launches on our IKO (Initial Koala Offering) launchpad!

I can’t tell you too much right now, I don’t want to spoil anything, but we have an amazing partner for the project launches to announce in september, expect a lot of great project launches from Koala Defi. We’re not ape’ing around!

or maybe we are ape’ing around, I’m not sure to be honest! I consider Ape’ing a very serious task

anyway! Everybody is invited to come and play2earn with us for the NFKs!

And last but not least for september, Vault strategies!

Koalas are pretty lazy, so they love to stake and earn while sleeping and chewing some sweet eucaLYPTUS vimiNALIS leafs

So we will give them some yummie vaults!

So that was september, can I continue with october?

Just kidding! But expect more chains, cex listing, more pools and a lot more excitement!

Twitter Questions

cryptooqueenn — Users assets security should be the top priority, so what’s your plan to guarantee it? Could you tell me in detail, what mechanism does #KoalaDefi implement in case where users funds are stolen? what support would you provide in such a situation?

Silfaster:

Hi Cryptooqueenn! Thanks for your great question.

There is already so much uncertainty in crypto and Defi in particular, we want to be your safehaven! After all koalas like to relax, chew some Lyptus or Nalis and earn, we don’t want anybody to stress.

We value safety and security of our investors very much!

Please have a look at our documents section on our website, we have tons of information about platform and user safety and security

Our contracts are audit by Certik and Techrate. These are two highly regarded safety auditors for crypto.

We have our migrator functions removed. This means the team can not steal any funds.

There is a timelock on all masterchef contracts, this means contract changes have a 24 hour delay to keep everybody safe.

We have big section in the docs about emergency withdrawals and how to use them, even with the website offline you are still able to withdraw your funds.

We use the fantastic ApeSwap exchange you all know as our liquidity provider, so there is no risk for flashloans!

So it’s nearly impossible that user funds get stolen from the koala defi platform unless they have shared their wallet or got hacked. To keep our users safe we post a regular Safety recap on our koaladefi.medium.com blog with tips to keep your funds safe!

We can’t help you if your wallet gets hacked or you share your personal info, what we can do is try to help you to recover your funds and give you the best information we can about safety.

@ManissLaris — Can you explain in detail how the token burn with buying back and burning tokens from the open market on a quarterly basis will work? How do you ensure that the token utility of KoalaDefi tokens remains stable and slows down the inflation rate?

Silfaster

ManissLaris, thanks for the great question!

Nalis token has a build-in burn mechanism that will burn 2% on every transaction.

On top of this we sometimes do manual burns, mostly to celebrate events!

We’re not the biggest fans of manual token burns on the regular, with good tokenomics it should not be necessary to keep burning tokens.

We believe a healthy platform with great tokenomics shouldn’t have too many burns and buybacks!

maybe a bit complicated for some, but this is the great circle of Nalis life!

We DO buyback and burns for Lyptus token by the way!

A part of the contribution fees in IKO project launches is used to burn Lyptus token, keep in mind Lyptus token is fully deflationary! So no need to slow down the inflation rate for this one!

Lyptus gets burned as a part of the deposit fees and for IKO launches.

@k_pejuang — What is the ultimate vision that KoalaDefi is trying to achieve within the cryptocurrencies market? Obviously the whole space will experience huge growth in the upcoming years, but what role would you like KoalaDefi play in this?

Silfaster

Another great question, you guys seem to have a very smart community!

Thanks K_pejuang, I’m sorry but I’m going to give you kind of a boring answer

Our vision hasn’t changed since the day we launched on march 1st 2021!

Koala Defi is a yield farming dapp and a launch platform currently running on the BSC and Polygon chain.

The idea behind the project is to create a safe place for conservative farmers.

We don’t think we should reinvent the wheel, we want our wheel to be perfectly round and suitable for everybody!

We want to shine in what we do! Not be reliant on constant new features to keep our investors interested

So great APR, great project launches and great native tokens!

and a ton of fun with the NFK of course

ohhh and I almost forgot one of the most important things!

We love koalas!

Not only do we just love them, we set up a charity fund wallet that gets filled with a part of the deposit fees, that’s already filled with funds to plant 1000s of Eucalyptus trees and a lot of koalas that are going to be taken care of!

Plus we set up onlykoalas.com to make it possible for everybody to donate for the wellbeing of koalas with crypto!

and don’t worry onlykoalas is only naughty by name, not by nature!

COMMUNITY QUESTIONS

From @LouraTimoty:

Many projects are just projects that make deceptive promises created by cloning existing ones and are similar to existing ones. Do you have features that are unique to you, that you have developed and that make you special?

Silfaster

Greast question, YES!

Look at our UI.

With the launch of our Koala Defi V2 platform back in July we created our complete own user interface to stand out from the tons of pancakeswapclones.

So everything you see on the website is developed by us for you!

From @Hitlar_0000000

What are the key milestones on your roadmap — both things you have already achieved and things that we can look forward to? Any partnerships and short/long term technical milestones that you want to talk about or bring some attention to?

We are very proud to be amongst the growing number of crosschain platforms!

For a high degree of decentralization we believe it’s important to offer investors diversity in chains and give them a choice!

I already teased our big IKO project launchpad partner, please follow our announcements for more info about it!

And we have a ton of great partners coming, for both Polygon and the BSC chain!

@janberisikbaby

How can the community contribute to the progress of KoalaDefi? Do you have a Governance model? Is there and ambassadors or bug bounty or contest we can assist in so as to enable further adoption??.

Silfaster

This is a great question,

Koala Defi was set up as a community driven project! We value our community greatly and are almost 24/7 available for questions.

We’re not one of those projects that only are active in good times, in case of worry, falling prices etc, we will be there for you too to answer all your questions!

One of the ways that really shows Koala Defi is a community driven project is our Lyptus token.

The first big official community vote we had was about the build-in transaction tax for Nalis.

We just gave some options, our users decided the final tax percentage!

From @Emily_0000

Is Your Project available for the global people or It’s limited for some area? If it’s globally available are you guys planning to introduce it globally?

Silfaster

Sorry i’m going to cheat!

🤣🤣🤣

our website is available in, I believe, more than 8 languages, do I need to say more?

We hope you enjoyed the summary of this AMA, Silfaster was so much fun to chat with, if you’d like to do an AMA with us, please feel free to reach out to @King_D3 or @jimmythehypnotist on Telegram! See you at the next one Crystal Crew!