FAQ
Frequently Asked Questions
Q1: Can you please introduce yourself and your background, also introduce the team working on STAKE CAFE project?
Hi we are Stake.Cafe! We’re an experienced and diverse team with skills ranging in blockchain code development, business development, social media content management, and venture capital relationship management. We’ve all been software professionals in the tech industry and have taken strong interests in blockchain since 2016. Our team comprises of 2 devs, 3 business developers, 2 graphics designers, 1 partnership manager, and the rest are proactive community managers and “NFT” meme artists.
Q2: Can you introduce STAKE CAFE project, what critical problems does it solve that existing solutions are not solving and what’s the competitive advantage?
Stake.Cafe’s mission is “fulfillment through enriching others.” How we came up with this is through our journey as software professionals. Our goal is to create a DeFi project that can leverage our robust staking mechanism in order to benefit our stakers, and in return, to allocate funds to communities/businesses/organizations affected by COVID-19. We have read and seen that many businesses have shut down because of a series of unprecedented events. However, even with these unfortunate circumstances, certain industries like high tech and blockchain thrived and grew exponentially. Those of us who are involved in the blockchain space have leveraged the innovations around blockchain > defi and NFT to do well for us and our family. However, we are the lucky few.
At this point, we thought, how can we equally distribute knowledge, experience, and even opportunities to those in need? That’s when we combined the beauty of Defi>yield farming and donations together. One problem with crypto is that it has become foreign and perhaps hard to adopt for people unfamiliar with the space. We aim to provide positive press and PR by helping those who need resources.
In the future, we plan to create an NFT platform where we can be the designated “business license allocator” to businesses/organizations in need. We are still writing a whitepaper and standard on this work. Please read our Medium for more info: https://stakecafe.medium.com/stake-cafe-leverages-nft-for-good-f4c75334e1ad.
Our competitive advantage is being able to leverage our engineering expertise, business acumen, user experience knowledge, and goodwill in order to build a community that will stay. There are too many cash grabs nowadays and it’s quickly noticed by community members strongly discussing price. We understand that it is inevitable to happen, but as professionals and experienced creators in this price, price is something that is highly unpredictable. This means we focus solely on our strong tokenomics, use cases, user growth strategy, community engagement, and other “driving factors” that can potentially influence price. We are constantly scouting partnerships and have a healthy pipeline of partnerships post-launch. Secret for now :D
Q3: Can you briefly describe the top milestones you have achieved and your target milestones with timelines, also share your roadmap?
The top milestones that we have built so far is building strong community presence through ORGANIC growth. If you look at our Twitter, Medium, Telegram, and Discord, you will see that we have grown significantly in a short amount of time. Read here for a detailed and specific overview of our roadmap:
Q2 2021
Build Bounty platform for community members to earn CAFE
Grow Pool Farms through community-voted demands
Partner with at least 3 communities/organizations/channels to grow user base
Complete NFT Beginner — Advance Blog/Demonstration Series
Move from 3rd party form software to in-house voting software
Donate to 12 community-voted benefactors
Build at least 3 region-specific community donations pods
Q3 2021
NFT Platform partnership announcements
Partner with at least 3 communities/organizations/channels to grow user base
UI/UX Revamp showing real-time analytics and live feeds crypto contribution to the world(More details on this later)
Partner with Chain-Bridge projects to reach wider audience
Recruit region-specific community members to build benefactors<>NFT partnerships
Donate to 12 community-voted benefactors
Q4 2021
NFT Platform/Partnership Launch
Partner with projects to be their “donation” solution/platform of choice
Donate to 12 community-voted benefactors via Yield Farming or NFT Option
Partner with at least 3 communities/organizations/channels to grow user base
Build more specific region pods to reach out to more organizations in need
Q4: Can you briefly describe your PARTNERSHIPS so far?
Since we’re in the pre-sales phase right now; our partnerships are mainly focused around driving awareness to our project using social media outlets. Once our launch happens, AFTER audit (we plan to do a pre-launch audit with a reputable 3rd party, and post-launch audit as well) we will periodically do audits across different vendors to maintain consistent security fortification to protect our users, farmers, and stakers!
We have a bunch of partnerships in pipe and partnership strategies lined up for Q2/Q3/Q4 roadmap items. We will also have a renewed roadmap for 2022 onwards once our NFT platform launches. That will require a different crypto ecosystem of partners.
Q5: Can you give an overview of your Tokenomics, and the UTILITY of the STAKE CAFE Token?
Our tokenomics strategy is highly beneficial to our early investors. We plan to enforce strong ROI in the beginning to reward our early investors. CAFE is also deflationary to help protect our stakers/farmers on short-term market volatility and overall dynamics. We can’t control FOMO’ers, BTC/BNB price movements, panic sellers and such. However, our tokenomics is set in place that over the long term, the TOKEN can maintain steady growth while rewarding our extremely loyal stakers/farmers. Please review this tokenomics article for more info: https://stakecafe.medium.com/cafenomics-f9b4e7fb78f0
Q6: You spoke about the audit, can you explain more on it? like is the whole project being audited or just the burn mechanism so far? im sure that will interest the community alot if the burn will come out after audit or before audit
We will be auditing the entire project. We’re partnering with multiple auditors to provide us the best possible security and professional advice to improve our security posture. Please rest assured that we will launch with at least ONE security audit. We will provide as much time to the auditor to carefully scrub our code to ensure the safety for our investors.
Q7: Fund hacking/stealing is always a headache problem on any exchanges trading platforms. So how safety is the fund that is going to be kept on $stakecafe? What will happen if there is problem with fund of users on $stakecafe?
Please check the audit that we’re going to perform. We have also removed the rugpull migrator code. We are following stringent security practices for deploying and transacting on the smart contract. Initially, we will hold full control of the keys, but as the platform gains more usage and passes the live test, we will begin the transition into a fully decentralized governance model.
Q8: how do you attract investors to be interested in Your project ? because some investors only focus on short-term prices rather than long term?
We are constantly looking for partnerships with projects and it’s in our pipe. We welcome all investors who believe in our mission and are always open for feedback and suggestions on how to improve. Since we’re in presale mode, we have not launched any partnership with any projects to date. We plan to announce a series of partnerships post launch.
Q9: Many newspapers say the goal is to create the most user-friendly NFT marketplace. What do you think is the most relevant missing feature in other NFT platforms that STAKECAFE will tackle?
NFT is the hype nowadays. However, not many people understand what it is. They think it’s just selling digital art, memes, and etc for a high price. While that is a use case, it is not the ONLY use case. NFT is simply a unique token that is on the blockchain. This means that we can apply it to Stake.cafe by creating “business license/charity license” to communities who register on our platform. In every country, there is a Bureau issuing license and verifying license. Every license is unique. However, to open a business, it takes a long time for 1 bureau to verify information and issue a license. However, NFTs use the beauty of blockchain (transparent, secure, immutable, fail-proof) to issue an NFT for a business. That way, if you have a business idea or operation, you can claim that the idea is yours. Once you have that sovereignty on the blockchain, you can use that license to either Stake on Stake.Cafe, or sell that “idea” in exchange for immediate fundings. This is a great way for the business-in-need to spread its awareness on the blockchain. You can think of it as it’s simple marketing. Our mission is also to benefit the community.
Q10: How do you keep all users to stay with stakecafe for the longterm? From one to ten how safe is stakecafe ? and why should I trust you project?
Our tokenomics is leveraged to keep our CAFE tokens steady! It’s deflationary by nature. Also, we reward loyalty for our users. We have a timelock mechanism in place to prevent users from massively dumping initially. We’re setting the lock to one month out. Also, we have a series of partnerships and a very specific roadmap to show how we can achieve our goals. We will be hiring seasoned NFT engineers in the near term to further build/test our NFT platform. We also are planning to recruit members in our community to form regional hubs in their cities to find organizations to donate funds to. This will encourage engagement and participation from users. We want our project to help our members build wealth, but we also want our members to be able to learn along the way!
Q11: It seems that building partnerships is very important for stakecafe , so now, does Stakecafe have any strategic partners and which plans to build relationships in the future? Will you spill a spoiler alert now so the community have something to look forward too.
During the pre-sale phase, we have partnerships with various social media outlet such as Youtube, you should be seeing a series of video reviews conducted on Stake.Cafe shortly. As for post-launch partnership goals, we definitely have some. The communities/organizations we are allocating funds to are a form of partnership. With regards to various projects, we have identified a few partnerships that would align with our vision. At this time, we can not disclose those partnerships since we’re under NDA; The partnerships also have not been formed yet.
Q3 onwards when we determine our market and create “regional pods” for community leaders. We will partner with various NFT platforms (or build our own completely) in order to create NFT charity licenses to businesses in need :) We may also partner with various payment processing off-ramps to help directly convert CAFE to the benefactor’s currency of choice.
We may also partner with various projects to become their “donation platform of choice”. Through our donation journey, we will be collecting valuable data on which category of donations needs the help.
Q12: A lot of project are being abandoned because the developers cannot achieve the required capitalization. How can you make the project sustainable for its development?
The capitalization we need is funded by the Liquidity pool and through the daily emission rate.
We have designed our reward system in ways to buffer from volatility and being selective on which token liquidity pairs to award rewards. The plan is to choose tokens that offer a balanced TVL allocation, choosing tokens with high potential, and are less correlated. We will use our vault management to periodically rebalance, burn, and aim for the efficient frontier.
Please read our roadmap for more information.
Q13: In terms of global expansion Regulations and licenses are very important. How does Stakecafe deal with the regulations?
We have worked in various highly-regulated industries and understand the importance of regulation. To ensure we are in compliance with every jurisdiction, we will conduct pilot tests in specific countries and review policies before any major launch or feature introduction. As we continue to grow, we will consult with and possibly bring on-board attorneys for help with handling and managing the legal matters.
Last updated