PolyCrystal Reddit AMA 07/23 Wrap Up 💎💗

Hey #CrystalCrew! 💎

Seeing the outpouring of support from our community for the first AMA warmed our hearts, so we decided to want to bring you another!

This time, we decided to host it on reddit, for ease of answering all the questions that you guys may have had about our deflationary plans and roadmap announcements made recently.

We’ve decided to wrap all of the questions and answers up in one place with screencaps to ensure the awesome questions get credited back to their rightful owners!

Jimmy: Great question :) we chose Polygon as it is an emerging blockchain with great potential.

KoC: Exactly! Polygon has a lot of potential and the amount of transactions has now surpassed BSC. We also saw an opportunity to launch on Polygon with ApeSwap to provide the ApeSwap family high APRs as incentives to checkout Polygon.

KD: Good question! We’ll never give out financial advice or tell you to invest but to shed a little bit of light on security, we take our investors funds incredibly seriously. ApeRocket was exploited due to a flashloan attack.

This was made possible because their vaulting mechanism used a variable rewards system (more deposit fees = more rewards). Someone saw a vulnerability and was able to exploit that. We don’t intend on having this feature available in our vaults when they launch, and every feature added to the Polycrystal ecosystem is poured over and tested with the utmost scrutiny :)

Jimmy: That is a good question :) we don’t currently have plans for airdrops, but will consider it in the future. In the meantime we will have many contests and giveaways to help reward our great community members :)

KD: Also worth mentioning;

Our friends over at augury finance are offering a Crystl airdrop on the 23rd, if you stake OMEN on their platform! Our OMEN pool is printing some delicious APY so you can double up by taking your rewards and staking them on Augury’s platform.

Not sure how the allocation will work out but I’m pumped to get some more Crystl!

Jimmy: Thanks for the great question :) we have launched multiple marketing campaigns this week with BSC Times and DappRadar. We will have many more in the future and we also released our Polygon Portal plan to help bring BSC projects to Polygon. This will give PolyCrystal great exposure and many partnership opportunities :)

Jimmy: That is a really good question Papaw Obie :) the biggest risks for the soft cap concept is the lowering of the emission rate will cause the APRs to decrease, but the benefits and long term sustainability of the soft cap far outweigh the risks :)

The soft cap allows us to greatly decrease inflation and thus make $CRYSTL much more stable and manageable for the long term. Also with the different thresholds for the soft cap, it will take weeks to reach the next level and the emissions and APRs won’t drop drastically overnight. When vaults are released, we will have auto burn mechanics which will help keep the circulating supply consistent :)

KD: 1 Our marketing team is working on lots of initiatives for once the new moon cycle is over, really trying to drive home the Polygon Portal, because that’s a tremendous step for us!

2 We are currently holding off on getting involved in initial offerings, as our kind friends at ApeSwap have a fantastic service for initial offerings in their IAOs

3 Prediction markets are kinda neat, I really like the idea of being able to “double down” on a token so to speak! That being said, it’s not immediately in development, but it very well could be if there’s a lot of support!

4 There’s lot of value in the NFT space and it’s definitely something high up on the priority list and something we’ve spoken about implementing! Love to hear people’s thoughts on NFTS, I personally find them to be some of the most interesting thing happening on blockchains right now

Jimmy: Polygon looks to have a great future :) There are a lot of great projects on Polygon and even more that are interested in coming over. We released today our plan for helping projects bridge to Polygon from BSC in order to become cross-chain, and we will assist many projects in coming over to Polygon.

One of the big draws of Polygon is the low transaction fees, so if ETH 2.0 works well and lowers transaction fees, it could affect Polygon, but Polygon is looking to be a strong Network.

Polygon looks to have a great future :) There are a lot of great projects on Polygon and even more that are interested in coming over. We released today our plan for helping projects bridge to Polygon from BSC in order to become cross-chain, and we will assist many projects in coming over to Polygon.

One of the big draws of Polygon is the low transaction fees, so if ETH 2.0 works well and lowers transaction fees, it could affect Polygon, but Polygon is looking to be a strong Network.

KD: Low liquidity is what causes these sorts of issues with price action. With the further incentivizing of providing liquidity with vaulting, combined with the recovery of the overall crypto market (we are paired with MATIC, thus follow its price action to some degree), this will cause buys/sells to cause less dramatic price action :)

Jimmy: Our Marketcap has been growing steadily and will continue to grow in the future :) to help keep $CRYSTL stable and sustainable, we have taken multiple deflation actions for reducing emissions and have implemented a soft cap on the $CRYSTL supply :) we are also working on multiple partnerships which will bring liquidity and new users to PolyCrystal

That wraps up all your awesome questions this time around, the team looks forward to the opportunity to talk and answer the communities questions like this again very soon.

Big thank you to the following reddit users for your incredible questions.

u/Beneficial_Cod9949

u/Toanlee

u/International_Tea550

u/obiedobo

u/CamiChini

u/JrAwesome_crystl

The future is $CRYSTL clear 🔮📈 Polygon decentralized yield farm 🧑‍🌾