Gate.io AMA with Ignore Fud-A New Kind of Meme Token That Supports DeFi and Blockchain Innovations
Time: May 29th, 2023, 13:00 UTC
Gate.io hosted an AMA (Ask-Me-Anything) session with WeLovePassive,the representative and community lead at Ignore Fud in the Gate.io Exchange Community.
Official Website: https://4ignorefud.com/
Twitter: https://twitter.com/ignore_fud
Follow Ignore Fud on Telegram and Discord
Guest
WeLovePassive — Representative and community lead at Ignore Fud
Q&A from Gate.io
Q1: Can you please give us a brief introduction of yourself and of your team as well?
WeLovePassive: Okay sure. I am WeLovePassive, the representative and community lead of Ignore Fud. The team is YOU, US and everyone in the community who works on the project and helps it grow. It is open to everyone’s contribution, that’s why we only did a public launch and there is no dev team token allocation.
WE are the TEAM, and this project is OURS. Let’s Ignore Fud.
Q2: Moving on to your project. Could you please give us a simple introduction to IgnoreFud? What is the motivation for building this project and what is the token’s name?
WeLovePassive: I like this question. Ignore Fud is a new kind of meme token that supports DeFi and blockchain innovations.
The Ignore Fud Project was created to help Coredao, Binance, and the cryptocurrency industry as a whole get more people to use and adopt cryptocurrencies. We provide a community-centric meme ecosystem, a unique hold to earn with exposure to a large and strong community of users from all over the world.
Moreover, this is a movement assembled to fight FUD that appears every now and then in our industry.
4TOKEN is the official token of Ignore Fud. 4TOKEN is a hold-to-earn stablecoin, $USDT Holding requirements to earn passive is 400,000 4TOKEN.
and soon Stake 4TOKEN to earn 4TOKEN.
Reminder:
❌No new token
✅We’ll use #4TOKEN rewards from circulating supply
Q3: And meme tokens lately are taking a big slot in the market. Looking forward to the success of IgnoreFud token as well. So what makes IgnoreFud and 4TOKEN special? How is this better than other meme coins out there?
WeLovePassive: 4TOKEN was designed to avoid problems that are common in the cryptocurrency industry, such as “rugpull,” “pump and dump,” “not enough liquidity,” etc.
First, 4TOKEN is a hold-to-earn token, where we can earn USDT just by holding it. You need to hold at least 400k 4TOKENs to be eligible. The USDT reflections and rewards earned by holders come from the DEX sell tax generated from sold 4TOKENs.
4TOKEN has an 8% DEX sell tax. This is to encourage the people to hold on to their 4TOKEN with us for a long term while we fulfill the use cases that will benefit the whole community.
Nevertheless, if they decide to sell, it will still help the community through the sell tax and beneficial to the whole ecosystem. You know why?
Because of the 8% sell tax, wherein:
3% goes to reflections or rewards for holders.
2% will be added to 4TOKEN/CORE liquidity. This is an auto-LP mechanism to ensure that we have enough liquidity in the long run.
2% will be burned to help reduce the supply of 4TOKEN. Note that this is an auto-burn mechanism.
1% will be converted to CORE/BNB for operational expenses and the growth fund to build utilities.
Our perspective is that if someone sells, qualified holders will earn + overtime supply is decreasing.
Q4: Why did you choose to build a bridge and go MultiChain?
WeLovePassive: Yes 1 supply to all chains.
An understanding of #4TOKEN having only 1 supply across all chains. #4TOKEN deflationary supply shall circulate to all chains through a BRIDGE.
The mint and burn function of our bridge are powered by LayerZero_Labs and have been audited by @CertiK!
Once you bridge #4TOKEN from CORE network to BSC network, the following conditions will happen:
(1) Your #4TOKEN will be locked in a CORE Bridge Contract (0x795c4a5e03cc6f4ed349caf076da6cb7f60d6921) then an equal amount of #4TOKEN shall be minted on BSC network.
This is because our #BSC chain starts with zero #4TOKEN supply.
(2) When you bridge back #4TOKEN from BSC Network to CORE Network, your #4TOKEN on BSC shall be burned and the Bridge Contract shall release #4TOKEN back to you on CORE network.
The GOOD NEWS is, we have BURNED/RENOUNCED THE OWNERSHIP of the Bridge Contracts.
Therefore, No need to worry about minting of $4TOKEN on any chain, as we will only have the same deflationary supply 4ever.
NO ONE CAN CHANGE OR EDIT OUR $4TOKEN SUPPLY UNTIL THE END OF TIME!
These conditions are also applicable to other chains soon. And soon gate.io will support CORE and ETH deposit/withdrawals because 4TOKEN is now listed on gate.io.
Q5: What are your future use cases for 4TOKEN?
WeLovePassive: A meme token at first. But in the future, we will create the following use cases:
- Make a Blockchain Validator/Staking Node like CORE Staking Node, ADA Staking, BNB Staking, Cosmos Staking Node, New Blockchains with Staking Node and even other potential Tokens that earn staking rewards. 50% of monthly revenue will be used to buyback (spot price) and burn 4TOKEN.
- NFT Marketplace with 4,000 Ignore Fud NFT Collections.
- Compounding Crypto Asset “Vaults” focus on stablecoins LP and Single Assets.
- Decentralized Stable Swap (DEX) focuses on Stable Coin Swap and again 50% of monthly revenue will be used to buyback and burn 4TOKEN.
- The rest are suggestions and ideas from the community.
We love our Community so we’ll be open to ideas from the community that can help the project grow and get bigger.
Q6: IgnoreFud has been KYC’d by Coredao_Org and Certik audit, so next to security, we want to know how this project can sustain its operation and growth in the future.
WeLovePassive: Yes! We’ve successfully resolved the issues found by Certik.
Audit Report: https://skynet.certik.com/projects/ignore-fud
To sustain the project, we collect 1% tax fees for operational expenses and a growth fund to build utilities in the future. We will keep going and enhancing our current services to the community and we will keep on building use cases for the community till we reach $100M to $1B marketcap. We want to keep on expanding so go multichain like BSC, ETH, ARB chain, TRON, FTM, MATIC and etc.
We don’t have a road map, but we have a map of what we’ve done.
We are committed to continuous innovation and adoption of what’s to come.
