With the success of Partnership with Berry Data, CZodiac Team with the lead of our CEO/Dev Plastic Digits had an AMA session with Berry Group last 14th of October, 9am UTC.
Our Lead Dev discussed the benefits and features of Czodiac to Berry Community. Highlighting the CZFarm and CZVault and for those who have missed it, Here’s the recap of our recent AMA with them.
Sam Jia: Today we have CZodiacs. Plastic Digits — CEO & Lead Dev
Could you say hi to the Berry community?
Plastic Digits: Hi, thanks for inviting me for this AMA
I’m the lead dev for CZodiac. CZodiac is a defi community with farming, pools, borrowing, NFTs, and a lot more planned. My role is to design new technologies for CZodiac and develop them with the dev team.
Sam Jia: Nice!
We are glad to have you here with us today. are you ready for the AMA part?
Plastic Digits: I’m happy to be here. Berry is a great project and the BRY/CZF farm on czodiac has been popular.
Yes, lets start.
Sam Jia: Let’s go. when you finish your answer, please either type DONE or send a random sticker
Q1:Could you tell us more about CZF? In other words, what does CZFarm do?
Plastic Digits: You should check out the CZodiac dapp at app.czodiac.com. We’ve got great APR while keeping emissions low enough to maintain a decent price trend for CZF, our farming token. We have some other tokens but since CZF has become so popular it’s really become the primary token for CZodiac. CZF LP farms earn up to 900% APR and our CZF pools earn up to 500% APR. There’s also CZUSD if you want a low risk way to earn good APR. The CZUSD/BUSD stable LP farm earns 300% which is one of the best stablecoin farms on bsc right now.
Q2: Do you consider yourself a direct competitor to beefy.finance? If so, what would you like us to know that differentiates you from them? If not, what are the key differences?
Plastic Digits: In Defi there are huge incentives for projects to form partnerships instead of compete. When two defi projects are offering similar services it means both have user bases that are interested in the same types of products. So when these projects form a partnership it allows both to grow their userbase and asset values.
Beefy hasn’t been a competitor but they have been an excellent partner. Currently they are operating CZF/CZUSD and CZF/BNB vaults on Beefy for us which are over $300k in LP value.
Our CZF LP farms have been super popular with partners since its a way for them to get exposure to our userbase and getting their tokens locked up. And our community loves it when we bring in new and exciting farms and pools onto our platform. It increases the APR for CZF and brings utility.
Q3: Can you speak to us about your decision to build on BSC?
Plastic Digits: Most of my past development experience was on Ethereum, so choosing BSC for CZodiac was a difficult decision in many ways. But the gas fees on Ethereum just got too high for developing new technology. When developing on Ethereum I spent over 40 eth just on deploying and managing smart contracts, its really insane.
And many features just don’t work on Ethereum for the majority of users because the gas fees are too high. We’re also looking at expanding onto Polygon which has a lot of great defi dapps like BSC does. I’m a big xDai fan but the farming community there is still small. If you know someone running a cool project on xDai who wants to partner up for a CZodiac launch on that chain I want to chat.
Sam Jia: we had the similiar reason to first launch on BSC. Great Choice!
Q4: Great, could you give us some info on the CZF Token?
Plastic Digits: CZF is a farming token.
It’s inflationary with new CZF minted each block as rewards to farmers. We also mint a limited amount of CZF for pools, airdrops, and partnerships. Minting is carefully managed via economic simulations to prevent negative price impacts. If new CZF is minted worth $1000, that newly minted CZF must bring more than $1000 of economic value to the CZodiac protocol. Otherwise, we reduce the emission. This way we can create high APR without hurting the CZF price.
Once CZF gets large enough, we’ll be rolling out more features involving beurn mechanisms to limit CZF token growth since as we get very large the opportunities for profitable minting decrease so more economic value is generated from burns than through mints. So at a certain point the CZF supply will stabilize. I don’t know what that value will be because it depends on how fast we can scale. The faster we grow, the lower the eventual supply will be. My economic simulation predicts based on current market conditions that we won’t need a burn mechanism until at least $100m circulating marketcap for CZF.
Q5: Are there any community initiatives or ways to get involved with the project that you’d like to highlight to our viewers today?
Plastic Digits: Yes, don’t just buy CZF, farm it.
If you want to just hold CZF, then there’s a pool on app.czodiac.com offering 300% APR where you deposit CZF and earn more CZF.
For farms I have to recommend our CZUSD/BUSD farm if you like stable LP. CZUSD uses a dual pegging mechanism with both overcolalteralized debt and an economically neutral algorithmic peg.
It’s currently around 300% which is one of the highest stable LP farms on BSC, and there’s plenty of liquidity on the pair to enter with as well.
If you’re a BNB holder, there’s also a single asset BNB vault that both automatically compounds your BNB and gives you CZF rewards on top of that. So you can earn CZF with your BNB without even needing to purchase it, if that’s your thing.
Other CZF LP farms earn up to 900% APR and our other CZF pools earn up to 500% APR. So there’s a lot of opportunities with a variety of risk.
Sam Jia: i am sure that high APY mining will attract lots of new users
Plastic Digits: Yeah. The BNB vault is taking off, the APY is 450% with $50k locked and we just launched it a couple days ago.
Sam Jia: you can stake CZF — BRY LP to earn CZF!
Q6: How does your project guarantee users’ asset safety?
Plastic Digits: And its a permanent farm, because we love BRY. So if you love BRY and CZF you can keep earning for both 😃
All our farms use LP on safe dexes like Pancakeswap. Our farming masterchef has a 24 hour timelock for any changes made. The masterchef is forked from Olive which is one of the older pancakeswap LP farming platforms on BSC, so it’s well tested. Same with our pools. This is all code that has been used and reused on BSC for months if not years.
When we do release novel code, we do so very cautiously. First we have extended periods of automated testing where scripts automatically try to hack our smart contracts on every single line of code.
Once the contracts pass these robust tests, we then deploy in stages with tons of safety and rollback features so that if something did go wrong the economic damage would be limited. For instance with our CZUSD contract, we had a 5 stage rollout which you can read about in our whitepaper which carefully managed the launch in case there was a bug. There weren’t any, but that’s how dev work is — you got to prepare for the worst.
On audits, we are currently undergoing audits by 2 different parties which we will announce later. However we’ve found audits generally haven’t been good at uncovering bugs. Our automated hacking tests have found bugs that auditors completely missed. So we’re only working with the best auditors but they have a huge backlog of work.
Sam Jia: awesome!
That will be all for Q&A session. You know what’s coming, live question sessions. We will have 1 live question session in which you have a chance of asking the Berry Data team anything. The prize for the session will be $100, one session consists of five questions being picked, so the prize per question is $10 (if your question is picked).Please add #AMAwithCZodiac in the message! Prepare your questions, guys. We are opening the chat.
Q1: Hi Plastic Digits! Got me some questions
1. CZodiac is one of great projects but how would you bring the community into live and make it to one of marketing ways for the project itself?
2. And what the purpose of token migration, like there are 12 zodiacs, to be fair?
3. You said, cmiiw, oxz will have some future features, why did we migrate to tigz then?
That’s it, thank you!
Ans1: Hi @rcgp94
1. On marketing, the primary driver is partnerships. We’ve experimented with all types of organic and paid marketing but we’ve found the most cost effective way to grow the CZodiac community is by partnering with projects that have a userbase that’s interested in defi and farming.
2. CZF is really our main token now. We originally launched with OXZ token which swapped to TIGZ with the idea we would do a monthly swap. We launched CZF as an airdrop to TIGZ holders as a reward for holding strong. But we found that the CZF token was more popular than TIGZ, so we are focusing on it. The 12 zodiacs will be used for NFT rewards as we roll out NFT staking in the future.
3. Almost everyone migrated to OXZ from TIGZ, but a few people missed the window so we will have some possibility for those users in the future.
Q2: Do you have any passive income from your project? Any #Staking or farming do you have ? Or still not in public?
Ans2: Yes! We have 3 types of staking all live.
1) Farms. You can stake different LP on app.czodiac.com and earn up to 900% APR. There’s also around 300% APR on the stablecoin CZUSD/BUSD pair.
2) Pools. You can stake CZF to earn partnered tokens as well as CZF. APR is up to 500%.
3) Vaults. It’s our newest feature, so we’ve only launched the BNB vault. Deposit BNB and your BNB will autocompound. And you get CZF rewards on top.
Q3: #AMAwithCZodiac what would you say really makes you different in this crowded space?
Ans3: Economic simulations. Most projects are just guessing what values to use for their farming ecosystem. With economic simulations we’re able to better predict how the market will react to new updates and technology then plan the best course of action.
Q4: Q.What features of #CZF might be of interest to large companies and corporations now? What will motivate them to use #CZF in the future?
Ans4: Large funds are already looking at stablecoin LP and APR on blockchain. In my opinion the most likely place for traditional funds that are moving into blockchain to enter CZF is through the CZUSD/BUSD pool since it has an excellent risk/reward tradeoff. Lower risk with really high rewards.
Q5: How do you convince users and investors that CZodiac is a high-quality and long-term project? Can you share some reasons to persuade me and other investors to invest in NAFTY for a long time?
Ans5:Consistent communication. We’ve been very active in communicating with the community daily. All our github code is public so you can see the accounts there working and releasing new code daily on https://github.com/chinese-zodiac/czodiac. The team has also treated the members all really well. Feel free to join our telegram and ask what people experienced with CZodiac. We do a lot of airdrops and always build our dapps to service the community first. https://t.me/CZodiacofficial
Plastic Digits: That’s 5 interesting questions answered, if I didn’t get to your question feel free to join the telegram and tag me there and Ill answer it for you. https://t.me/CZodiacofficial
Sam Jia: thanks for coming to Berry Data group. Thanks for your time @plasticdigit
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