BundlesFinance, [08.12.20 13:57]
Hi Guys. Looking forward to the AMA. Simon here from Bundles.

Bert Kroels, [08.12.20 13:57]
Simon! Can’t wait for it to start.

Trading Benjamins, [08.12.20 13:58]
Welcome to the Trading Benjamins telegram, if you are ready? Lets get the AMA with Bundles underway!

BundlesFinance, [08.12.20 13:59]
Ready! Thanks for having me.

Trading Benjamins, [08.12.20 14:00]
Thank you Simon, for taking the time and coming here to do this AMA with us today. I know time zone differeces are playing a bit of a factor for you, I hope you were able to get a power nap in.

So to get us started can you give us a quick introduction of BUND for those who don’t know, as well as the basic outline of the project.

Trading Benjamins, [08.12.20 14:00]
Also everyone, while waiting for us to respond to the questions you can check out the Bundles website at: bundles.finance

BundlesFinance, [08.12.20 14:03]
Sure, I had a quick power nap. Bundles is a platform that allows you to test your crypto prediction skills by predicting which currencies will have the best performance over the staking period. We measure each stakers performance against each other and you can win BUND of you do better than the average prediction. We have our Low Risk pool going live tomorrow and our High risk pool in the next week!

BundlesFinance, [08.12.20 14:04]
Over the coming weeks we will add a variety of pools with different reward structures and time scales

Trading Benjamins, [08.12.20 14:05]
Awesome! I’ll dive deeper into those pools and what features they offer in a little bit I promise.

What are the tokenomics for your project (Team tokens, circ supply etc…) and how do they support long-term development?

BundlesFinance, [08.12.20 14:08]
In regard to the tokenomics, we felt it was important to have a fixed supply. So many projects have large emissions of tokens that cause issues with the price and market cap. We have a max supply of 97,100. Team tokens are locked until Oct 2021 and our current circulating supply is just under 75,000. Obviously the team has a long term incentive to build the platform and value as the tokens are locked for a year.

Trading Benjamins, [08.12.20 14:10]
A year is a solid length of time for coins to be locked. Investors can get behind and trust this.

I know liquidity has been one of the pressing issues for your community, how do you plan on addressing that?

BundlesFinance, [08.12.20 14:14]
We had quite a small raise and added and locked liquidity when we launched on Uniswap. Just 4 days ago we created an LP rewards pool on the site to encourage and reward people for adding to the liquidity pool. Stakers in the LP pool receive additional $BUND for staking over the next 4 weeks. the current APY is around 900%, although that changes as people enter the pool and with the price of BUND.

Trading Benjamins, [08.12.20 14:15]
Nice, this will definitely have a positive impact on adding to the liquidy I’m sure. Great idea!

BundlesFinance, [08.12.20 14:15]
Thank you

Trading Benjamins, [08.12.20 14:16]
Alright, let’s transition to the BUND team before I go too deep into the project.

Can you give us a brief introduction on who you are as well as the team? Do you have any prior projects or experience in the space that you could share to help instill confidence in Bundles?

BundlesFinance, [08.12.20 14:20]
I’m Simon Lewis, one of the founders alongside my colleague, Sid Bouziane. We have another crypto project in development since 2018 called Elevate Health. That is purely VC funded with a big VC called Coinsilium leading the raise. They have previously backed projects such as ICON and RSK. We had to put Elevate on hold due to Covid so have been working on Bundles. It has become much busier than we expected so we are really focusing our attention her over the coming year.

BundlesFinance, [08.12.20 14:21]
Here.. Bundles.

Trading Benjamins, [08.12.20 14:22]
Whoa! usually I get hit with “I can’t talk about my previous projects” by Devs so this is nice to have a previous projects name to go back and confirm and see you are legitimate

Trading Benjamins, [08.12.20 14:23]
Yourself and Sid Bouziane have doxxed yourselves and have been posting youtube videos, helping to instill more trust in Bundles.
What compelled you to release your identities further to the crypto world?

Trading Benjamins, [08.12.20 14:23]

Trading Benjamins, [08.12.20 14:24]
For confirmation of this, everyone can check out this video. Either way, I suggest everyone here watch it to learn more about the team and Bundles as a whole. Very good video!

BundlesFinance, [08.12.20 14:27]
With the number of rug pulls in the space over the past few months, we felt it was important to give crypto investors the security that comes with a public team. We had been public for a while but felt regular videos would further enhance that. When you are public, you can’t act badly because there is a trail. I don’t understand why so many projects have anon teams to be honest.

BundlesFinance, [08.12.20 14:28]
It’s nearly become accepted that some of your investments will have a 100% loss because of rug pulling and that isn’t right.

Trading Benjamins, [08.12.20 14:29]
[In reply to BundlesFinance]
I totally agree with you, it is a big issue. As a community we have almost accepted rug pulls as a norm and we play a big part in who is to blame for them. Because we allow it to happen, we still invest in non anon teams.

Trading Benjamins, [08.12.20 14:30]
So next time you get rugged, think about why you got rugged, instead of blaming some anon. At one point a month ago 70% of projects launched in a 7 day period were rugs.

BundlesFinance, [08.12.20 14:30]
Exactly. It happened to us all. To the point where we don’t even bother to investigate.

Trading Benjamins, [08.12.20 14:31]
Maybe change how you invest… Crazy idea, choose a doxxed team.

Trading Benjamins, [08.12.20 14:31]
But in saying this I invest in garbage too. 🤦

Trading Benjamins, [08.12.20 14:31]

Trading Benjamins, [08.12.20 14:31]
speech over lol

BundlesFinance, [08.12.20 14:32]
Yes! It has to be safer. I can’t think of a doxxed team who have rug pulled.

BundlesFinance, [08.12.20 14:32]

Trading Benjamins, [08.12.20 14:32]
[In reply to BundlesFinance]
yes very hard to do (assuming they are properly doxxed). Your team is doxxed to the next level 👌

BundlesFinance, [08.12.20 14:33]

Trading Benjamins, [08.12.20 14:33]
I really respect transparent teams like yours!

Are you worried this could also have a negative impact in the future on your life going forward? (Seeing as the crypto space is full of trolls)

BundlesFinance, [08.12.20 14:34]
It is something that we have thought about. The space can be toxic sometimes but if you act in good faith, I think those concerns are minimised.

Trading Benjamins, [08.12.20 14:35]
Not to mention, SImon looks like he could hold his own boiiiss/gals. I don’t know if I’d play with that fire.

BundlesFinance, [08.12.20 14:35]
Haha. Good background in BJJ so I’ll be prepared!

Trading Benjamins, [08.12.20 14:36]
You should be the one fighting Mayweather not Logan Paul 😉

Are you noticing any big difference when comparing your previous jobs with the crypto space? I’d imagine the pace at which people want things and are able to obtain knowledge/information is a massive difference.

Trading Benjamins, [08.12.20 14:37]
[In reply to Trading Benjamins]
Bundles army start making the Simon vs Mayweather or even Mcgregor memes now!

BundlesFinance, [08.12.20 14:37]
Haha. That will be a one sided affair. Haha.

BundlesFinance, [08.12.20 14:40]
I’v ran some big businesses in the past but the crypto space is something else! It’s 24/7. In addition, you effectively have hundreds of shareholders so you have to communicate with them all in a timely manner. I compare it to having a board of 400 people! We are really lucky that we have a great community who help along the way. That makes it easier.

Trading Benjamins, [08.12.20 14:41]

a board of 400 or 2200 haha

Trading Benjamins, [08.12.20 14:41]
join bundles TG

Trading Benjamins, [08.12.20 14:41]

Trading Benjamins, [08.12.20 14:41]
2200 members strong

Trading Benjamins, [08.12.20 14:41]
[In reply to Trading Benjamins]
I assume you have 400 holders though?

BundlesFinance, [08.12.20 14:41]
Haha. 400 token holders! But 2200 interested parties.

Trading Benjamins, [08.12.20 14:42]

Trading Benjamins, [08.12.20 14:42]
Back to Bund! What inspired the team to create Bundles?

BundlesFinance, [08.12.20 14:45]
Good question, We had seen a lot of projects that had huge APYs but the rate wasn’t really true because it was created by large token emissions that increased supply and dropped price. We wanted to create a way that you could earn with a fixed supply. We also have a background in psychology so wanted to create a platform that was engaging and fed into the crypto investor mindset of taking risk and receiving recognition for their performance.

BundlesFinance, [08.12.20 14:46]
The project is still really in it’s infancy. We have some really big plans going forwards.

Trading Benjamins, [08.12.20 14:46]
Smart, your idea feeds on the addictive natures of us plebs

BundlesFinance, [08.12.20 14:47]
Haha. It’s an easy way to feed your risk requirements. I could go into the psychology behind the behavior but will save it for a Medium article.

Trading Benjamins, [08.12.20 14:48]
I agree. Look forward to the article.

What makes bundle different/unique in comparison to other staking projects?

Trading Benjamins, [08.12.20 14:48]
[In reply to BundlesFinance]
we will get to these big plans shortly!

Trading Benjamins, [08.12.20 14:49]
Brace yourself everyone, you’re not going to want to miss them.

Trading Benjamins, [08.12.20 14:49]
It’s like a TV show making you wait, you’ll find out on next weeks episode.

Trading Benjamins, [08.12.20 14:50]
I’m secretly just trying to buy time, to buy more 😉

BundlesFinance, [08.12.20 14:52]
Many projects have very short shelf lives. They are here today and gone tomorrow. With Bundles, once we get the new updates complete, you will have a platform that offers a variety of pools over long and short periods that you constantly want to check how you are doing. We have leaderboards that compare all the performance of the stakers and a Hall of Fame so that winners have their names immortalised! Many crypto users don’t want to use the the bigger excahnges leverage platforms as the risk and complexity is high. With Bundles, you can test those skills in a much safer and simpler way.

Trading Benjamins, [08.12.20 14:53]
in response to this and the platfrom I’m going to hit you with a three part question lol

BundlesFinance, [08.12.20 14:53]
Ok! Ready!

Trading Benjamins, [08.12.20 14:53]
How hard is it for one to stake their BUND? Is staking done through your website? Can you give a brief description on how one can stake?

How long do your staking pools run for?

How often do new staking pools open up?

BundlesFinance, [08.12.20 14:56]
We have 2 pools going live in the next week. One is a low risk pool where you can earn 3.6% if you predict well and one is a high risk pool where you can earn 39.6%! We initially set the high risk pool at 9.6% but the community wanted much more degenerate rewards! The pools run from 2 to 3 days and you have 24 hours to enter each pool.

Trading Benjamins, [08.12.20 14:56]
I assume the APY % is one of the changes and updates you were referring to earlier?

Trading Benjamins, [08.12.20 14:57]
Key word “ONE” of them. There are more everyone! lol

BundlesFinance, [08.12.20 14:57]
The staking is done through the website, you choose how you want to divide your BUND between 10 currencies and we then measure how they perform over the staking period. Depending on where you come in relation to others you either win or lose BUND.

BundlesFinance, [08.12.20 14:58]
Yes, that’s correct. We want to have pools that have different risk profiles for different users.

Trading Benjamins, [08.12.20 14:58]
[In reply to BundlesFinance]
With bad predictions you said people lose a percentage of their stake?

What is the maximum percentage one can lose?

BundlesFinance, [08.12.20 14:58]
We also have the LP rewards pool but that isn’t a part of the core concept, it’s just a reward to help increase the liquidity.

Trading Benjamins, [08.12.20 14:59]
[In reply to BundlesFinance]
what is the APY of this?

Trading Benjamins, [08.12.20 14:59]
estimate APY?

BundlesFinance, [08.12.20 15:00]
It was 954% last time I calculated exactly but as a few more people have entered, it’s around 800–900% now.

Trading Benjamins, [08.12.20 15:01]
[In reply to BundlesFinance]
that’s a healthy number.

Trading Benjamins, [08.12.20 15:01]
don’t know why I’m not in this yet

Trading Benjamins, [08.12.20 15:01]

BundlesFinance, [08.12.20 15:01]
Users share 2000 BUND over 4 weeks and it’s emitted on a constant basis so the APY depends on number of LP tokens staked and the BUND price.

Trading Benjamins, [08.12.20 15:02]
[In reply to BundlesFinance]
of course, it’s going to fluctuate.

Trading Benjamins, [08.12.20 15:03]
With bad predictions you said people lose a percentage of their stake?

What is the maximum percentage one can lose?

going to resend this question lol

Trading Benjamins, [08.12.20 15:03]
I asked you like 4 questions at once

BundlesFinance, [08.12.20 15:05]
Sorry, forgot! The losing amounts equal the winning amounts except for a small development fee to enable us to cover gas fees and development fees in the long term. So 4% in the low risk pool and 40% in the high risk pool. The high risk pool is very risky! We wanted to set the limit at 10% but the community spoke!

Trading Benjamins, [08.12.20 15:06]
It’s my fault I’m bombarding you with multiple questions at once.

Trading Benjamins, [08.12.20 15:06]
[In reply to BundlesFinance]
is the % the biggest differenc between to the high risk and low risk pools?

BundlesFinance, [08.12.20 15:06]
I’m enjoying it! Good questions

Trading Benjamins, [08.12.20 15:07]
are there any other things people should be aware of that are diffferent?

BundlesFinance, [08.12.20 15:09]
And the staking period, the low risk is 3 days and the high risk is 2 days. We set those times up so you only ever have to wait 24 hours before you can enter a pool. We recommend that users choose a maximum of 2- 3 currencies in their selection because it keeps the gas fees acceptable as we have to record each price you entered at onchain for accountability.

Trading Benjamins, [08.12.20 15:10]
[In reply to BundlesFinance]
stealing my future questions here lol.

BundlesFinance, [08.12.20 15:10]

Trading Benjamins, [08.12.20 15:10]
I read that you are making changes to your “Core Staking Pools”. What are the changes being made and why make these changes? Is it the mostly % or is it time of pools as well?

BundlesFinance, [08.12.20 15:11]
It’s mainly the % and time. Although we will also increase the number of currencies you can choose from. Currently it’s 10 but we’d like to increase that to 30 going forwards.

Trading Benjamins, [08.12.20 15:12]
ohhh nice 3x more to choose from! people will like that. Which coins are you adding?

BundlesFinance, [08.12.20 15:13]
We’ll put that to the community to choose but a wider selection of low cap coins is the idea.

Trading Benjamins, [08.12.20 15:13]

I also read you are improving your UI, what types of upgrades can your users expect?

BundlesFinance, [08.12.20 15:15]
A much better design! Our previous design was really just to get the platform launched and show that the concept worked but it’s not pretty! We are designing a much sleeker and modern UI over the next week or so.

Trading Benjamins, [08.12.20 15:16]
Is there a specific function being added to the UI you are most excited about?

BundlesFinance, [08.12.20 15:18]
Yes, the Hall of Fame and Leaderboard elements will be far more eye catching as well as the way we present the performance of your current pool and completed pools.

Trading Benjamins, [08.12.20 15:19]
You mentioned you have a “Hall of Fame” section on your website for top performing stakers each week. Have you thought about having an exclusive tournament or event down the road just for them?

BundlesFinance, [08.12.20 15:23]
We could certainly do that. That’s a good idea! We are planning a Christmas special pool with additional rewards which should be quite exciting! The possibilties about where we can take this are limitless. The big goal is to open the platform to other coins. So any ERC20 token can have their own pool and holders can compete against each other. BUND holders would share the fees generated to create additional value for the coin.

Trading Benjamins, [08.12.20 15:24]
The more coins you get the more exposure you should get 👌

Trading Benjamins, [08.12.20 15:24]
What other updates does the team have coming in the near future, that investors can get excited about?

What coming events are on the “Roadmap”?

BundlesFinance, [08.12.20 15:25]
Exactly. And coins that are down in the dumps could find a use case again

Trading Benjamins, [08.12.20 15:25]
[In reply to BundlesFinance]
Bundles the future savior for shit coins everywhere!

Trading Benjamins, [08.12.20 15:26]
feel free to use my slogan in your ad campaign 😉

BundlesFinance, [08.12.20 15:28]
Our goal for this year is to have the platform design completed, the high and low risk pools up and running and the Christmas special pool online. Early next year we will add more pools and the staking for other tokens. Beyond that, we are looking to add other indices to predict.. these could be currencies, stocks, sporting events. There are so many avenues.

BundlesFinance, [08.12.20 15:28]
[In reply to Trading Benjamins]

Trading Benjamins, [08.12.20 15:29]
[In reply to BundlesFinance]
your options are so vast what you can do with this in the future. One of the reason I like Bundles and bought some last week.

BundlesFinance, [08.12.20 15:29]
Appreciated. We have been fans of this channel for a while!

Trading Benjamins, [08.12.20 15:30]
“Currently, the platform requires too many approval transactions from Metamask. Because of this, the team will send $5 of Ethereum to everyone who stakes the first week till we sort it out.”

“We recommend not choosing more than 3 currencies in your Bundle. We will be making improvements over the next few weeks to simplify things.”

These quotes are taken from one of your mediums. Are these two things still an issue?

Trading Benjamins, [08.12.20 15:30]
you already briefly touched on the second one. I told you, you’re stealing my questions.

BundlesFinance, [08.12.20 15:32]
We have made improvements so that the number of approvals required is less. Once you have chosen your username and added your tokens once to the platform, it’s pretty easy from there.

Trading Benjamins, [08.12.20 15:33]
I know you have gone 90 minutes already and you are killing it! But I have to ask you about the whole solidity ordeal before I can let you go!

Trading Benjamins, [08.12.20 15:33]You had audits done by Solidity Finance. However, the other day Solidity tweeted the following:

BundlesFinance, [08.12.20 15:33]
Yes, that was a tough few days.

Trading Benjamins, [08.12.20 15:33]
Can you explain what this was, what happened, was everything resolved and how?

BundlesFinance, [08.12.20 15:38]
Sure, because the platform and concept is totally new, everything has been built from scratch including the smart contracts. We went to the trouble of having our contracts audited before going live but one of the devs (who no longer works with us!) was concerned that if there was a contract issue, funds would be locked for ever so he put a function in to recover funds but this wasn’t communicated. No funds were misallocated but the fact remains that it wasn’t a good idea! Once we found out, we spoke with Solidity and worked to get the at risk funds to the users and then built a new contract and got Solidity to audit after deployment. They announced they are happy with the contracts earlier today. Lesson learnt.

Trading Benjamins, [08.12.20 15:39]
You’ve had Solidity re-audit everything and fix the issues with the staking pools, is there anything people should be worried about still?

Trading Benjamins, [08.12.20 15:39]

Trading Benjamins, [08.12.20 15:41]
Also thank you @solidityfinance for the cheap Bundles during all of this! Sorry anyone who got shaken out.

BundlesFinance, [08.12.20 15:41]
No, everything is now fully in order. We will be submitting our High Risk pool contract over the next day or so. Going forwards, all contracts will be deployed, then audited and only then can be staked within.

Trading Benjamins, [08.12.20 15:42]
Awesome, safety first!

Do you think this issue has negatively impacted the trust in BUND, as well as the Mcap?

BundlesFinance, [08.12.20 15:44]
I think it did. But we have worked really hard to get everything in order and it’s been great to get feedback from the parties involved about how it was handled. I am confident that once we have developed the next stages of the platform, we will be a well known DEFi platform.

Trading Benjamins, [08.12.20 15:45]
You seem very transparent about everything and have been the whole time everything was going down, which is nice to see.

Do you have any plans in place to gain that trust back with the community? Is there anything you can do?

BundlesFinance, [08.12.20 15:47]
The video was one way we thought we could gain trust. Seeing the team and their commitment to the project helped. We will be doing monthly videos going forwards. I also think that having regular audits as we develop new smart contracts is essential and will build trust.

Trading Benjamins, [08.12.20 15:47]
Technically everything is more safe than ever after all of this.

Trading Benjamins, [08.12.20 15:48]
If you were to get hacked or if something malicious were to happen resulting in loss of funds, is there any insurance in place for such an event?

BundlesFinance, [08.12.20 15:48]
Yes. LOng term it was actually helpful to create the platform safety required.

BundlesFinance, [08.12.20 15:50]
We are speaking with a group in London called Paragon who specialise in crypto insurance. It’s something we want sorted by the end of the year.

Trading Benjamins, [08.12.20 15:50]
That would be a bonus added trust factor if you cn pull that off!

BundlesFinance, [08.12.20 15:50]
It’s really only the excghanges that have this focus at the moment so we feel it would be a real differentiator for Bundles.

Trading Benjamins, [08.12.20 15:51]
I agree.

Are there any bug bounty programs that are scheduled in the future or that may have already occured?

BundlesFinance, [08.12.20 15:52]
We will be introducing one but need to have the pools up and running first so that people can see what is there.

Trading Benjamins, [08.12.20 15:52]
makes total sense.

Trading Benjamins, [08.12.20 15:53]
Ok last two questions I promise! You’ve been killing this for almost 2 hours now. By far our longest AMA to date!

BundlesFinance, [08.12.20 15:53]
No worries!

Trading Benjamins, [08.12.20 15:53]
RIP, your fingers.

What are your plans for marketing going forward?

BundlesFinance, [08.12.20 15:55]
Haha. We want the new design of the platform complete first. Then we have some marketing planned with several influencers. The main long term marketing is to get a lot of people using the platform! More users who will then talk about their experience in the crypto community

Trading Benjamins, [08.12.20 15:57]
I will definitely be talking about it in the future for sure.

Where do you hope to expand BUND to in terms of growth (over the coming months/years)?

Trading Benjamins, [08.12.20 15:57]
Where ideally do you want to see this expand to?

BundlesFinance, [08.12.20 16:00]
We’d like it to be a token that everyone knows about. We’d like to see many different ERC20 tokens having their own pools so that community members of those tokens look at getting on the BUND platform as you would view an exchange listing. Then from a martketing perspective, you have tens of communities doing your work!

Trading Benjamins, [08.12.20 16:01]
Great goals, I hope they all come to fruition for you!

Trading Benjamins, [08.12.20 16:01]
Before I let you go is there anything I may have missed or you would like to add?

Trading Benjamins, [08.12.20 16:01]
We can go another 2 hours if you like!

Trading Benjamins, [08.12.20 16:01]

BundlesFinance, [08.12.20 16:02]
Thank you. It’s been a great AMA. I’v really enjoyed it and love the group. But sleep calls! LOL

Trading Benjamins, [08.12.20 16:03]
Haha, you’ve earned the sleep my friend.

Thank you so much for your time today and answering questions for 2 hours! Sorry we kept you so long, that was a very informative AMA however. Also Thank you everyone for coming to our AMA!

For more information, please check out Bundles at the following links

Website: bundles.finance
Telegram: https://t.me/BundlesFinanceDiscussion
Twitter: https://twitter.com/BundlesFinance
Medium: https://medium.com/@bundles.finance
Audit: https://solidity.finance/audits/BUND/

The AMA will be added to our directory very shortly at: tradingbenjamins.medium.com

BundlesFinance, [08.12.20 16:04]
Thanks so much!

Trading Benjamins, [08.12.20 16:04]
You are very welcome and are always welcome back anytime!