AMA Recap Crypto Library with Burnace


On 19th August 2021, Burnace conducted an AMA in the Crypto Library Community. Our guest is Larry Baker. Lots of questions as usual from the Community about Burnace progress. The Burnace team took part in a very interesting AMA session which included introductions, questions from twitter, and a live AMA session with the Crypto Library community. If you missed the AMA in person, read this recap for a deeper insight into Burnace.

Let’s take a look at the most interesting points of our conversation. 

Crypto Library Team : So, before we start the AMA could you please introduce yourself to our community?

Larry Baker (Burnace) : My name is Larry Baker, and many of my colleagues recognise me for my expertise in digital marketing. Concentrating mostly on e-commerce, I founded a few websites devoted to news and knowledge that have been visited by over 5 million people globally and generated over 50 million page views in the previous two years.
Crypto Library Team : What is Burnace? and how does it work?

Larry Baker (Burnace) : Burnace is a hyper-deflationary token that was introduced on March 5, 2021 and launched on August 5, 2021 by a team based in the United Kingdom. Burnace's platform includes an innovative Buy-back and Burn algorithm, static reflections for holders, farming, and staking, among other features. Our Mission is to create a sustainable investment platform that is accessible to everyone, regardless of their class or status. By examining the 2021 statistics report, we can see how Defi has risen to the top of the blockchain over time, with over 10 billion dollars invested in Defi PRODUCTS IN THE 2021 QUARTER ALONE.

Crypto Library Team : Could you give us some reason why we have to choose Burnace than other projects out there?

Larry Baker (Burnace) : Burnace is an expensive commodity; if we are all familiar with stocks, we will recognise that the conventional buy-back system was a revolutionary trend that saved many firms from an impending market catastrophe; our system is based entirely on this and details all of the benefits of utilising this approach. One of the major issues in the cryptosphere is mass-dumping; without a real use case, a token will expire over time; the same is true for goods and services. The Burnace token supply is limited (burnace is launching with a 210 million total supply, which is extremely rare for other coins with a supply threshold), which keeps the token valuable and in a limited number of hands. The more uncommon, the better for those of us who possess the ACE TOKEN. Our solution is based on our DEX and staking PRODUCTS, which allow users to trade and stake their tokens to earn, and we collect fees for each transaction, which are distributed quarterly to OUR ACE HOLDERS.

Crypto Library Team : Please tell us about $ACE token! What are the token use-case, distribution, and where we can buy it?

Larry Baker (Burnace) : ACE TOKEN IN SUMMARY:
  1. True 'Buyback and Burn' Tokenomics: Unlike Safemoon and other first-generation tokens, burnace's 'Buyback and Burn' features will reduce burnace's circulating supply while boosting the value of each token in circulation.
  2. Our new 'AXE' function allows users to risk their burnace in order to earn BUSD/BNB while also obtaining passive reflections as static prizes.
  3. We plan to provide everyone an equal opportunity to get in on the ground floor of this initiative; unlike other tokens that give priority to early adopters, burnace has enabled users to earn burnace through FARMING.
  4. MasterChef 2.0: With our new contract, we can create an endless number of pools using the same token and can even safely and exploit-free manage transfer-tax tokens such as EVER-RISE
Crypto Library Team : Could you give us some information about your roadmap, your milestones, and also your future plans?

Larry Baker (Burnace) : BURNACE TOKENOMICS:
  • Total supply: 600 Million ACE tokens
  • 65% Burnt at Launch (Including 150% of Presale & Airdrop)
  • 17% Presale
  • 2% Airdrop
  • 10% Liquidity
  • 4% Rewards
  • 2% Team
Our solution is based on our DEX and staking PRODUCTS, which allow users to trade and stake their tokens to earn, and we collect fees for each transaction, which are distributed quarterly to OUR ACE HOLDERS. Our exchange would interact in the e-commerce spere easily, we plan on using the BURNACE EXCHANGE In the future bringing the FIAT ON & OFF RAMP TO Decentralizze finance. WHERE TO BUY ACE? At the moment we are conducting a Presale, which can only be bought from the official platform, the link can be gotten below:
Crypto Library Team : Smart contracts are vulnerable to bugs, and even recently three big new DeFi projects were victims of this, costing users funds. How efficient and secured is #Burnace smart contract?

Larry Baker (Burnace) : We have audited our smart contract successfully with Techrate. With pending audits from Hacken & Certik, who are top security experts in this regard, am certain Burnace would provide a rug-proof & safe environment for investors.

Crypto Library Team : The world of DeFi is constantly evolving and has high potential, what are the best features Burnace will provide to attract more investors? Does burnace always innovate to attract investors? what plans will Steady State have in the near future?

Larry Baker (Burnace) : Yes, we do. Our E-commerce real use case would attract investors from all over the globe, buying & selling is an important commodity in the economic & financial world, the ACE token would be used as a signatory value on the exchange.
Crypto Library Team : What is the difference between your regular $ACE token and $ACE Masterchef Tokens? Also, how and where can we use them?

Larry Baker (Burnace) : ACE token is the sale smart contract that was used to deploy the contract to the public. ACE masterchef is the main contract used for running our DAPPS, and mainly used for running the whole platform. All Ace holders would swap for the ACE masterchef token when we launch.

Crypto Library Team : What are the ways for your project to generate revenue in the long run? What is the progress of business development and what are some of your commercial partnerships?

Larry Baker (Burnace) : Generating Revenue is not the problem, Generating Revenue for a substantial amount of time and retaining the revenue is our goal. We would charge Liquidity fees on our exchanges. E-commerce Partnership would bolster our sales. We would list all future partnerships, as our team is working tirelessly around the clock.

Crypto Library Team : Have you being audited? Have not heard you talk about that security of funds is what every investor craves for and plans to escape incase of insecurity if funds,scams and rug pulls ? How strongly built are your security put in place?

Larry Baker (Burnace) : Yes, we have been audited by Techrate, you can find all the details on our official website. We have provided a rug proof environment from scammers & hackers by using the best security IT firms out there, we are in talks with Certik & Hacken to maximize Optimal Security for our users.

Crypto Library Team : Based on your DEX and PRODUCTS staked, Do you allow users to trade and stake their tokens to earn, and we collect a fee for each transaction, which is distributed quarterly to ACE HOLDERS?

Larry Baker (Burnace) : Yes, this is true, 8% burn tax and funded to the buy fund wallet which is charged from sellers, this is to punish the sellers and encourage more buyers. The more ACE you hold, the more you earn with Burnace. In the DAO Programme, the tokens are converted into points, and our users can deliberate to vote on or against a popular opinion that will help the growth of Burnace.

Crypto Library Team : There are lots of PUMP & DUMP project in the market. How is your project different than others? What are your plans for project sustainable long term growth?

Larry Baker (Burnace) : Our Anti-whale Procedure, would help to curb against this, the default value set for selling ACE which would be refused independently is 1% of the total supply. But we have decided to review this, to the community best interest. You can join our ongoing POLL, live and direct in the news channel, to make your votes, and tell us what you feel about your view on this.