Date: 13 March 2022
Guest: 5table Finance |Philip (Project Lead)
Host: Mert Bilgin (Yeti Swap CM)
Venue: Yeti Swap Global TG
Format: Text
Mert: Hi everyone, today we are hosting 5Table on our AMA event Our guest is Philip from 5table!
Philip: Hello hello, thanks for the warm welcome.
Mert: Welcome @PhilipStable How are you ?
Philip: I’m doing great. How about you?
Mert: I’m doing great as well, thanks for asking ❄️ Let’s start with the questions and not keep the community waiting.
First question; can you tell us about 5table Finance as a project and the team that is behind it?
Philip: 5table Finance is a multichain, decentralized protocol that allows users to find the best investment opportunities for their stablecoins, obtaining the best profitability that the market can offer, in a safe and sustainable platform. Basically, users will be able to stake any stablecoin (single token, no need to create any LP), and earn the highest profits in the market in the same stablecoin they choose, with our auto-compounding vault.
About the team. There are 9 people working on 5table Finance right now, not all of them are core members of the team. We will add 3 new members to our team in the first two months (already selected and ready to start). And we will continue expanding our team as our protocol grows over time.
Mert: Thanks for the interesting answer ! Yeti community will definitely keep an eye on 5Table. Here comes my second question.
Can you give us a rundown on the $5table tokenomics and it’s usecases?
Philip: It is a very good question. Surely everyone want to know about that. And it’s one of our strongest points. The $5TABLE token has a max supply that is achieved in the presale. That means that no more $5TABLE tokens will be minted after launch. We have a 4.5% performance fee on the main stablecoins vault. And it all goes to automatic buyback $5TABLE, providing steady buy pressure. Also, almost all those profits are distributed among the holders on the $5TABLE Pool in form of $5TABLE rewards.
So basically, there are no $5TABLE emissions, and all the profits of the protocol go to the holders. The more the TVL grows, the more profits are distributed among the holders, and therefore more price growth.
Mert: I can see that @5table is a project who loves its community.
Philip: Community is key to the success of any DeFi project. And here, the holders are the owners. They can participate in the decisions through governance and earn the profits of the protocol.
Mert: It brings me to my third question, I believe it will be connected to your second answer. Why do you think you can achieve massive growth?
Philip: We are confident and have made deep research on how the stablecoin market moves both on bull & bear markets. The results throw that the stablecoins market continues to grow on both markets. In the bull market, the total amount of funds moving is bigger, and therefore, the stablecoins market is bigger. In a bear market, there are also big opportunities, since a big part of the users move from volatile tokens to stablecoins until the market goes on a bull run again. So, no matter if there is a bear or a bull market, or if a particular user has small or big amounts, 5table Finance will attract massive TVL for the real added value it offers.
Mert: Thanks for the perfect answer ❄️ Lets continue with the 4th question. Everyday the DeFi ecosystem gets bigger and better. So are the projects within it. But with the massive growth, also the risks are getting bigger. What security measures do you have at 5table Finance to ensure safety for your users?
Philip: This is actually a great question. Security is a top priority at 5table Finance. Unlike most other projects that have only one or two contracts audited, at 5table Finance we have audited the whole protocol. All 12 smart contracts involved in the protocol have been audited, and all the issues found were successfully solved. The last pending high severity issue about centralization risks was solved with our recent governance module deployment.
Mert: All your answers told me that 5Table is one of the projects which I must keep an eye on. I believe our community thinks as I do. Can you elaborate more on your upcoming presale?
Philip: We were incubated by DeFi Launch, where they help us build our tokenomics architecture, our marketing plan, and other key aspects of our protocol. The $5TABLE presale will be hosted at avax.defilaunch.finance/presale/5table.
It will last 24 hs and everyone will be able to buy with 2–10% discount. You will need USDC.e to buy at the presale.
Mert: Thank you for your answers and your time Philip! I will check the questions and announce the winners shortly.
Philip: Thanks for having me here today! I had a really good time.
Links for 5table finance:
Twitter: https://twitter.com/5table_finance
Telegram: http://t.me/S_table
Medium: http://5table.medium.com
Discord: discord.gg/MRd5kkNUYz
