BSCDaily.com hosts Bunicorn: a yield farming vested on NFT
BSCdaily – Admin: Hello and welcome to BSC Daily, @phuc_bunicorn!
BSCdaily – Admin: Nice to have you here with us today. How is your day?
Phuc Nguyen: All good! Thank you for inviting me to BSCdaily today, it’s my great pleasure to be here and share about Bunicorn.
BSCdaily – Admin: The pleasure is ours
BSCdaily – Admin: Ready to start our AMA @phuc_bunicorn? 🎉
Phuc Nguyen: I’m all set, let’s do this!
Q1: What is Bunicorn all about? Give us a little summary
Phuc Nguyen: Bunicorn is a BSC-powered DEX that combines: Flexible Pools with a customizable number of tokens, weight, fee; and Stable Pools with super low slippage, high capital efficiency for swapping stablecoins. The flexibility of Bunicorn protocol mitigates the risk of impermanent loss compared to traditional 50:50 pairs while powering more advanced features such as Liquidity Bootstrapping Pool, Smart Order Routing on BSC. Additionally, Bunicorn introduces an innovative Yield Farming model with vesting rewards wrapped in NFT collectibles.
BSCdaily – Admin: It’s interesting as everyone knows that NFT is currently in a frenzy.
Q2: Could you tell us a little bit about yourself and your team? What are your past experiences?
Phuc Nguyen: I’m Phuc Nguyen Founder & CEO of Bunicorn. Here are some highlights about me:
– Former Google Summer of Code participant
– Samsung Smart App Challenge winner
– Former Researcher of NASA Ames’s Java PathFinder project
– Former Project Manager at DeNA, a giant game company in Japan
– Co-founder & COO of a leading blockchain development firm in Vietnam & SEA with hundreds of blockchain & Dapp engineers
– Former CTO of a centralized exchange under Signum Capital & Bitmex’s portfolio
Phuc Nguyen: We started this project with more than 10 developers and onboarded around 10 more for marketing and operational executives recently. My CTO and I had extensive knowledge about both centralized and decentralized applications before because we were running a development company with hundreds of engineers for almost 6 years now, so we’ve been through a lot of projects. I was the CTO of a centralized exchange before, so I have a very high standard of security commitment.
BSCdaily – Admin: Thank you so much for a very detailed answer
Q3: Why did you and your team decide to build Bunicorn?
Phuc Nguyen: Well, the AMM concept was initially introduced by Bancor & Uniswap has gained massive adoption in the past few years. However, there’s always rooms for improvements and none of the AMM out there is perfect.
For example, liquidity providers often have to expose their assets to the risk of impermanent loss while traders have to suffer the high slippage in AMM dex.
There are some projects on BSC that offer low-slippage swapping for stablecoins like Smoothies or Ellipsi. However, none of them can combine both Flexible & Stable pools like Bunicorn, or they’re just not popular enough to be considered successful.
There is also an issue with yield farming: the users tend to dump the tokens they get from the mining rewards immediately.
That’s the motivation why we made Bunicorn to solve the all issues above.
Q4: Now let’s dive into your token $BUNI. Can you share with us your tokenomics? And what are some of $BUNI use cases?
Phuc Nguyen: BUNI is our governance token and the full tokenomics can be found here: https://buni.finance/#tokenomic
Phuc Nguyen: Let me give you some utilities of our governance token, $BUNI:
– BUNI holders need to lock their tokens to receive the profits from trading fees & other revenue streams in the future
– BUNI token holders can also vote for improvement proposals to the Bunicorn platform as well
– Other than that, we intend to provide more DeFi services such as gaming, launchpads, LBP… etc. Users will have to stake their BUNI to get the entry ticket to these additional services
BSCdaily – Admin: Thank you
Q5: How about audit? Does $BUNI get audited?
Phuc Nguyen: To further build a better version of the cryptocurrency market with maximum security, we recently have chosen Hacken (http://hacken.io/) — a leading cybersecurity consulting company with an essential focus on blockchain security — to perform extensive audits on our project. The audit took two rounds to complete. It gives us immense pride to declare that our smart contracts are secured.
By the way, we’re going to launch a bug bounty program with the reward up to $50K in the next few hours.
Q6: And for people who are interested in your token, where can we buy $BUNI?
Phuc Nguyen: The $BUNI token is not listed anywhere yet.
Given the current volatile market, we’re exploring several options for BUNI listing in one of the world’s renowned centralized exchange before our mainnet and Bunicorn’s DEX debut.
But it’s not officially announced yet, so please stay tuned for our future updates.
BSCdaily – Admin: Let’s talk a little bit about your road map.
Q7: What can we expect in the next 3 months and in 2021 as a whole?
Phuc Nguyen: We have finished the first phase of our product roadmap that offers:
– Flexible Pools controlled by smart contracts. It allows dynamic settings from the number of tokens, weight, swapping fee, etc.
– Stablecoins pools with super low slippage and higher capital efficiency.
– Liquidity Bootstrapping Pool, a fair token distribution against front-running bots.
– Yield Farming + NFT reward vesting
TESTNET ALREADY AVAILABLE – https://staging.buni.finance/#/trade/tokens
In the future:
– We’ll make NFT vesting tokens that have already been completed in the first phase to become collectible bunnies and build a marketplace so you can exchange/auction them.
– We’ll be having a Governance system, so that Buni token holders can lock up the Buni to vote, earn the trading fee profits, buyback, and burn BUNI tokens.
– A mobile app for our DEX
– To have other Defi products such as Lending added to the platform.
– To build our next version in Polkadot via Polka Foundry
The full roadmap is available here: https://buni.finance/#roadmap
Q8: And the last question of this segment, where can we find out more about Bunicorn?
Phuc Nguyen: Here are our official channels:
Telegram Chat: https://t.me/bunicornswap_en
Telegram Announcement: https://t.me/bunicornswap
BSCdaily – Admin: Time for wrapping up, any last words you would like to say to our community? @phuc_bunicorn
Phuc Nguyen: I wanted to say thank you all again for giving me this opportunity to share about Bunicorn. If you still have more questions, I’m more than happy to answer them in our official channel. Take care, guys!
BSCdaily – Admin: It was a pleasure having you @phuc_bunicorn 🙂
BSCdaily – Admin: Thank you so much for spending time with our community & all the very best for Bunicorn 🚀