This Article is a Recap of our AMA with Facemelter (Creator of Facemelters Spotlight) and Bjarne Hejl (CEO of Wealth Locks)
Hope you Like it..
Facemelter- I want to give a big welcome to @BHejl who is joining us today for this *Ask Me Anything* event.
Bjarne Hejl- Thanks for cordial invitation guys
Facemelter- Great to have you here.
To begin with it would be great if you could give us a few details of your own history and your role in the Wealthlocks team?
Bjarne Hejl- I am lead developer in the Project. I build smart contracts on Ethereum and BSC blockchain. I have already developed well known projects like $FST and $BASE2. Now, I am designing and thoroughly testing smart contracts for wealth ecosystem.
Facemelter- Excellent, I haven’t heard of these projects but I take it they done well considering you are open about them. OK, so let’s move into some of the details..
Heres a few things I’d like us to touch base on:
1. Can you give us a overview of the Wealthlocks project in a few sentences including being a fork of rfi on the ethereum network.
2. Please give us some of the key features of the wealthlocks lock platform? Is it live and what has usage been like since inception?
3. Please give us an overview of the $WLT token utilities. Will there be a governance element? What is the bonus event?
4. Looking at the roadmap I can see Wealth tools, wealth pools, wealth launchpad and Dex..maybe you can give us a quick snippet on each of these and likely go live dates.
5. Why should a project choose to use Wealthlocks over competitors offerings?
Please assemble in the best way that works
Bjarne Hejl- Yeah let me answer these one by one.
Wealth locks is a decentralized application that allows blockchain projects to lock their BEP20 tokens and (LP) Liquidity tokens in a non-custodial, time-released smart contract vault.
We are the only ones on BSC that provides Liquidity as well as team tokens lock. Also, we have 1% Transaction fee on each transaction which gets distributed among holders similar to RFI.
Facemelter- Great..is it still the case you guys are the only project with this feature. Has unicrypt moved to BSC? Obviously competition will become eventually so looking forward to hearing more.
Bjarne Hejl- Yeah we are the only ones who provide team lock token facility as well till now.
2) Wealthlocks is live and Total Value Locked in the smart contract is more than 1 Million already. Few Projects that are yet to be launched has already committed to lock with us.
Key features are:
Tokens and liquidity lock- Locking tools make it fast, safe and assured to lock any BEP-20 based coin. Wealth locks help you lock your tokens with minimal fees of .5%. Revenue generated from Locking fee will be used to buyback WLT at the Market Price.
Lockup Dashboard- The moment you lock liquidity tokens with Wealth locks, it will show your lockup and project details in a very simple manner which makes it easier to gather information about the project.
Secured and audited Smart Contracts-
Wealth locks respects security and decentralisation so we never have custody of users locked coins and do not have any access to them. The locking contract is well tested and audited for any security vulnerabilities. The locked tokens can only be withdrawn by the locking address after the completion of the lockup period.
Facemelter- Excellent, thanks for sharing those keypoints. $1m locked is impressive.
Bjarne Hejl- 3) $WLT is the governance token of the WEALTH ecosystem. It is integral part of the ecosystem. It will be used for all products of wealth ecosystem. Besides all the coming features, WLT holders bags grow with time from transaction fees revenue. Similar to rfi. RFI market cap is 20 Million and WLT sitting at 1.8 Million. So, WLT is like rfi usecase + many more from actual working products backing it.
Bonus event will be initiated by the team at Regular Events. During bonus event, if you buy more than 500 $WLT tokens, you automatically become eligible for claiming extra 100 tokens from BonusVault. Each bonus event will have maximum entrants limit of 5 which is on first buy first serve basis.
We’re coming up with more feature in near future which will help us in generating $200–300k monthly which will be used to buy back Wealth tokens. Imagine a fix monthly buy pressure on wlt from revenue across various products.
Facemelter- How is the 0.5% fee calculated?
Bjarne Hejl- It will be the 0.5% of total value locked by each project
Facemelter- Nice! 200k to 300k…can you tell us more on that..
Bjarne Hejl- Our next milestone in roadmap is Wealthtools. It’ll be a coingecko/CMC + Dextools for PancakeSwap projects. Users will be able to track all $BSC projects listed on pancake with their Social Media Handles and trending news of all projects with Data Analytics and Charting tools. It’ll be live in 2–3 weeks. Dextools generate around 300k monthly revenue from ads. All the Revenue generated from Wealthtools platform will be used to buy Back WLT.
Facemelter- Sounds great. Is dextools advertising revenue made public?
Bjarne Hejl- It is been estimated by various sources and they themselves acknowledged for $200k+ monthly revenue.
4) WEALTH TOOLS- It’ll be a coingecko/CMC + Dextools for PancakeSwap projects. Users will be able to track all $BSC projects listed on pancake with their Social Media Handles and trending news of all projects with Data Analytics and Charting tools. It’ll be live in 2–3 weeks. Dextools generate around 300k monthly revenue from ads. All the Revenue generated from Wealthtools platform will be used to buy Back WLT.
WEALTH POOLS- A newer Decentralised Platform where a Defi Project will be able to create different custom pools to Auction their tokens for pre-sale or to raise funds for their Project that to be listed on BSC.
WEALTH LAUNCHPAD- We’ll be introducing Launchpad for Launching Projects on Binance Smart Chain. We will thoroughly investigate all aspects of projects to judge their legitimacy for a token sale on Wealth Launchpad : Team, Technology, Product, Community, and of course business model. Also, the Liquidity will be Locked on Wealthlocks to secure Investors funds.
WEALTH STAKING SERVICES- We are going to launch a unique staking platform where Projects will be able to launch Staking of their tokens in a very Simple, Secured and Transparent way. It will be customized as per project and community demands.
WEALTH DEX- As we all know, the continuous Increase in gas fees of Ethereum network has led to Investors to try different Decentralised Exchanges on other blockchains. But still we’re in a very early stage of DEX development. We have some amazing ideas and will be bringing the most futuristic DEX out there in the near future.
All the other Mentioned features like Pools, Launchpad, Staking and Dex will be live within 7–8 months.
Facemelter- Wow, that’s a nice portfolio of services.. Timeline sounds achievable I guess..
Bjarne Hejl- Yeah we will be continuously updating community. Our main focus now is wealthtools that will really useful for all BSC projects.
Facemelter- So pools will be more open to any project whereas launchpad porjects will be scrutinised..is that correct?
Bjarne Hejl- Yeah exactly..
Based on ongoing development.
Facemelter- OK, well that’s a nice overview and intro on the wealthlocks project.
Bjarne Hejl- We been featured in bscproject overview of BSC ecosystem.
Facemelter- Cool, is there an article on this?
Bjarne Hejl- Yeah let me share the tweet.
You can find the wealth in Tooling list.
Facemelter- Congrats on featuring..
Bjarne Hejl- N also we are one from very few BSC projects that are listed on CMC.
Facemelter- You can share the links..
Facemelter- Whats current market cap..
Bjarne Hejl- It is approx 1.5 mil.
Bjarne Hejl- It is still very early
Facemelters- Agreed. Ok, Let’s move to Round 2.
COMMUNITY Q & A
Emmie971- Will Liquidity and team tokens be locked; where can we confirm and are smart contracts public? Is there a tutorial on how developers can lock team tokens and Liquidity in your audited, time-released smart contract?
Bjarne Hejl- Our Smart Contract is well audited. Let me share the link here. https://twitter.com/nightwatchaudit/status/1364768798943797250?s=21. Yes, we’ve made a Medium Article on step by step Tutorial for Projects on how to lock their tokens with us. https://wealthlocks.medium.com/introducing-wealth-locks-for-binance-smart-chain-18b1c34a883e.
Nafiz Ikhsan- Why you choose to use Binance Smartchain? We are know for now high risk and easily to rug-pull, recently many experience here @BHejl
Bjarne Hejl- It is due to the current development of the BSC. It is fees and speed are the main factors and many solidity devs are shifting to BSC.
Irony is thats what we are fighting against…Rug pull. Use wealthlocks.
EsrarengizBTC- For a long time, the number of DeFi projects has been growing too much. There are a lot of similarities between new projects. Probably some of them will disappear after a while. How will you survive?
What are the aspects of your WEALTH project that make it stronger than other projects?
Bjarne Hejl- It is our vision of developing wealth ecosystem in a way that can provide all the services at one place.
Heydenggg- Can you explain how is your Tokenomics Distribution? How many tokens Will be minted ? And How many tokens Will be locked by the team?
Bjarne Hejl- Tokenomics is available on the Coingecko and cmc. Total supply is 100k.
25% of the supply is locked by the team.
Disnep Raya- What’s unique about Wealthlocks that can’t be found in other projects that have been released so far? And how will your Wealthlocks demand increase in the future? or what steps would you take to increase demand?
Bjarne Hejl- We’re the only one on Pancakeswap that provides not only Liquidity lock but also Team tokens lock. Also in near future we are developing wealthtools that will push WLT usage to new highs
bonteng- Security & User Interface are the Most Important Aspect that Users see on a platform. How has $WLT worked on this? Is Platform suitable for Newbies in the crypto field?
Bjarne Hejl- Our website is fully secure and our smart contract is rigorously tested and audited. Each audit report will be shared on the website. Yes, the Platform is really very easy to use and has been made keeping in mind all the newbies.
CoinTravolta- “ Wealth is a DEFI project built on BSC.” We know that crypto projects need new partnerships and collaborations to grow further. Can Wealth project cooperate or partner with other projects in the BSC ecosystem? Also, what contributions you can make to the BSC ecosystem?
Bjarne Hejl- Total Value Locked in the smart contract is more than 1 Million already. Few Projects that are yet to be launched has already committed to lock with us. There will be several projects that will be joining through wealthtools.
TELEGRAM | FATHER-
In the bad situation of Corona ( COVID-19) pandemic, every industry was heavily affected
Does it affect on the growth of your project team and its ? What are the plans to turn challenges into opportunities for #project DEVELOPMENTS?
Bjarne Hejl- Yeah definitely work was affected due to covid. But due to continuous effort and commitment from our team, we are well within our timeline.
Santey- How does the team perceive retail investors Wealthlocks token holders? Where do you see value in ‘us’ and what could we do to support your work most effectively?
Bjarne Hejl- Retail investors are building blocks of any projects. We started with a small team and it has grown into this community. U guys can greatly help by creating awareness about the project on social platforms.
Capt_Star1- Where can we buy tokens and are you planning on listing on other Exchanges apart from Pancakeswap including major CEX?
Bjarne Hejl- Currently we are only on pancakeswap. As soon as we launch wealthtools, we will be targeting major exchanges.
If u guys want to have an idea about where wealth ecosystem stands right now and what is the future. U can check this tweet for comparison with similar ethereum based projects
U can also chck all the other details on following links
The first lockup project on BSC
Wealth locks allows Projects built on Binance Smart Chain to lock their BEP-20 team tokens and liquidity tokens in an audited, time-released Smart Contract. It is the need of the hour to protect investors.
visit wealthlocks.io to lock tokens
🔸PanCake Swap Link to Buy
🔸WLT Token Contract
🔸Wealthlocks Contract : Audit report here
🔸WLT Trades Channel
1) About WealthLocks
(https://wealthlocks.medium.com/introducing-wealth-locks-for-binance-smart-chain-18b1c34a883e)2) About WLT token
(https://wealthlocks.medium.com/introduction-to-wealth-wlt-b7ea7edef9d6)3) About Roadmap
Total Supply : 100k WLT
Circulating Supply : 60k WLT
Facemelter- Excellent.. well thanks so much for your time today @BHejl
It was great hearing about the project in detail..
Bjarne Hejl- Thank you for having us here.
We thank you for your support and are grateful for the strength of our community. Please continue to give us your feedback so we can make our products even better.