coinwire.com hosts an AMA with CanaryDeFi. #CanaryDeFi #Avalanche #AVAXDaily #AMA
Coinwire Admin: Good morning, good afternoon and good night to everyone 👋👋 Welcome back to another wonderful AMA with AvaxDaily. I’m Daley, your host, and today, we welcome Canary DeFi to our community
Axel Blaze: Hi Avax Daily team and Members. Glad to be here 😊
Coinwire Admin: Greetings Axel Blaze, how’s the market treating you?
Axel Blaze: Market is treating me fairly. Hoping for more good times ahead. Thanks for inviting Canary Team Here
Coinwire Admin: Absolutely! Thank you for taking the time to join!
Axel Blaze: It’s my pleasure 😊
Coinwire Admin: Really looking forward to this AMA actually
Axel Blaze: Same here. I am very excited
Coinwire Admin: So whenever you’re ready, we can start!
Axel Blaze: Let’s start as soon as possible, I am ready to go
Coinwire Admin: Right away my good serrrrr. Let’s kick this AMA off with our first segment: Q&A. The first question is:
Q1: Could you walk us through Canary DeFi and your current views on DeFi? What does Canary bring to the table?
Axel Blaze: As you know we recently changed from AMM to Canary Yield Aggregator (like Penguin/YieldYak). We rebranded ourselves as CanaryDefi now. CanaryDefi is one of the first and Oldest project of #Avalanche.We were there where very few projects were in Avalanche. We are a purely community driven project, without VCs or other big backers, trying to drive mass adoption of DeFi on the blazingly fast Avalanche blockchain. Again, a feature rarely seen in other Projects: 95% of the CNR token is fully reserved for the public. (90% liquidity mining and 5% airdrops). With only 5.33 million monthly releases of CNR.
On my view on Defi,currently you all felt the disheartening decline in the whole on crypto global mcap and in that defi been hit hard so many projects mcap so low on avalanche including and just as you know Defi rises with the speed of it fell down.So currently I would advise all to invest in Defi as those will get better yield in future when Bull run comes,
So in addition Canary ensure you to maximize your earning on our platform when you add Liquidity in following pairs of Trader joe or Pangolin we supports.Also we have Cnr + Joe and Cnr + Png pools too so you can reinvest your reward and scale your earning again.
Q2: Introduce yourself to the community! Who are the devs behind Canary and how do we know you’re in this for the long run?
Axel Blaze: I Am Axel Blaze and I am in the post of COMMUNITY MANAGER in CANARY and also part of their Team. I just joined crypto space last year March 2021.Going through project to project and found Canary just before the launch Day 1 june 2021 and I aped into the Avax.Since that Day Avax Ecosystem became very dear to me and I got fully involved in Avax ecosystem.Started to know about the new projects coming on Avalanche.
As Canary was the first project to invite me to Avax, I grew fond of it.
As for other canary team members There are 4 people in the core team. They all have a lot of experience in their past. Those who code applications/games for Android/IOS environments, work on blockchain projects, etc.
And we have another one. Our favorite Community Manager RB, he is quite talented in multiple fields.
As you know,we have been on the Avalanche from the early days and we never hide anything. Our contract codes are open and we have ensured a 3 days time lock on all contracts so that it can’t be exploited. You can Trust the Canary Team on Transparency.
So as concluded canary is fully safe and 100% decentralized Community Based Project running on Avalanche ecosystem.
Coinwire Admin: Great to know
Axel Blaze: I am a very Friendly CM
Coinwire Admin: Haha I figure 😂With the team of that size, it’s understandable that you did not need VCs for initial funding
Axel Blaze: Yeah it’s fully Community driven
Coinwire Admin: Right, so you mentioned rebranding the protocol to CanaryDeFi
Q3: Why did you build a new Canary? What is the difference between the old and new ones?
Axel Blaze: Yeah we did what was necessary at that time. Good question to explain more about us. As you know, we have always been striving to be more than just DEX. DeFi is a very young industry so we thought of how to make it more accessible and easy for people to join as we strongly believe it is the future of finance. That is why we are building NewCanary – an all-encompassing onboarding ecosystem. It already has its own CNR Token to experiment and earn with DeFi tools, BoogeyBirds to showcase how NFTs can be applied in DeFi, AVAX Prediction dApp to have some fun and Canary Academy to spread the knowledge and insights. We are also working on our upcoming GameFi initiative which is yet to be unveiled.
In #NewCanary we are focusing on deeper liquidity and more effective yield farming. To ensure our pools are deep enough and have more attention, we are moving them to Pangolin and TraderJoe. This move helps to expose $CNR to a much bigger audience and also ensures unique double rewards based on the partnership with those two top DEXes. You will now be able to stake your Pangolin or TraderJoe LPs on #NewCanary and receive the reward in $PNG and $JOE while also earning $CNR 😍.
Old Canary was AMM DEX while New Canary is Dex Yield Aggregator with double or more tokens rewards liquidity mining
Coinwire Admin: I would love to understand more about the different products you offer too. The NFTs are crazy
Axel Blaze: We will scale up that up in upcoming questions
Q4: Would you mind introducing your NFTs to us? What can we do with it? Where can we get it?
Axel Blaze: Boogeybirds are the Unique collection of 5000 stakeable NFTs powered by Avalanche blockchain
NFT projects were just beginning to arrive in the Avalanche network. None of them had a use other than being a paid jpeg. We wanted to do something different. We thought of a project where NFT holders can monetize forever (as long as Canary exists) and we made a stakeable NFT project for the first time on the Avalanche network. Currently, almost all Boogey Birds owners have staked their NFT on Canary. They are not trying to sell in markets. I think it’s a good passive income method.
Also, the Boogey Birds family is expanding. They collaborate with other projects. BB holders get some privileges in other project pre-sales or games
We will create new usage areas for CanaryDefi’s native token CNR and NFT project BoogeyBirds. Our already existing AVAX Prediction game will become playable with CNR. Canary also has a game development goal in the medium/long term in which Boogey Birds NFTs will be used. This will not be a simple card game but will be a game to be developed with Unity or Unreal Engine.
Mint is Still live in BoogeyBirds website: www.boogeybirds.com
Mint Price: 1 AVAX
I absolutely love these Boogeybirds Design
Coinwire Admin: Yep, something in their eyes just capture your soul 😂
Axel Blaze: You got it 😍
Coinwire Admin: Let’s move on to your pools then
Q5: About your farming pools, you ensure users with high APR, but also investment safety by targeting non-volatile coins. Which pools do you have now that meet those criteria?
Axel Blaze: Here, you can see all of our pools on our platform whether it’s on Trader Joe or On pangolin.
In Pangolin Farms,We have many farms paired up with stable coins of Avalanche that are less volatile than the other tokens of Avalanche similarly In Trader Joe’s too. We have one Pool of non-volatile pair of two stable coins USDC.e-USDT.e which is giving 24% APR(this is such good passive earning source without any impermanent loss and volatility)
We have other options too to let them into the CNR single stake pool of manual or auto pool or Simply stake you Avax.
Coinwire Admin: Those APRs look juicy 👀 Do we need to connect our wallet address to see the current APR?
Axel Blaze: No. You can see it without connecting. Just visit the site, check the farms tab and stake tabs
Coinwire Admin: https://app.canarydefi.com/#/earn Please check it out! And if you have any questions, you can ask them in our 2nd segment
Q6: What can we expect from canary at the end of 2022 and 2023? What are your plans to put more TVL on the board?
Axel Blaze: The bleeding wound of DeFi projects is the inability to maintain the value of their tokens. Unfortunately, the selling pressure is too much in the tokens distributed as a farming reward. The only way to prevent this is to discourage the user from selling the token with some incentives. Providing more APR to the token holder is one of them. Another method is to distribute airdrops to the token holder. Or to make the token usable in other applications. We are aware of all this and will take the necessary steps. In the next bull season CNR will be one of the most talked tokens!
We will be available on more chain, multichain implementation is in works
it will also allow high tvl and price movement stability in Canary
Canary will Fly Everywhere: Sky’s the limits
In Assurance of the Incentive program,we announced about the Airdrop 2.0 of Canary
where you need to stake lp or cnr tokens minimum worth of 100$ from the requested pair either on Pangolin or Trader Joe Pools Before 31st August.
Snapshots will be taken at random time so prepare your share as soon as possible.
CNR – AVAX
CNR – USDC
CNR – USDC.e
CNR – USDT
CNR – USDT.e
CNR Stake pool(Manual /Auto)
Many more will be coming too stay tuned 🙂
Coinwire Admin: And so for the people who want to join you guys now
Q7: Where can we find out more about Canary DeFi? Are there any events for users to participate in now?
Axel Blaze: You can get more info About canary on our Website: https://canarydefi.com
Currently users can participate in our Airdrop 2.0 event that I have shared info in our last question. You all can join us on our social handles:
- Dapp: app.canarydefi.com
- Telegram: t.me/CanaryDefi
- Twitter: twitter.com/CanaryDefi
- Discord: https://discord.gg/7pq9tF9HnW
Beware of fake links and sites,these are our official links.
use only these to visit us. Thank you guys 😊
Coinwire Admin: With this we are now at the end of our AMA session with CanaryDeFi🔥🔥🔥
Time for wrapping up, any last words you would like to say to our community?
Axel Blaze: We are waiting for you guys. Happy to answer any of your questions in our social handles. We love this community. Thanks Avax Daily for inviting us for AMA
Coinwire Admin: You heard the man!! go show them some love fam. Thank you Axel for coming on and talking about CanaryDeFi
Axel Blaze: Thanks Daley for your cooperation. Really felt good
Coinwire Admin: Anytime, take care bro