GRPL Finance AMA Recap
CryptoDiffer team
Hello, everyone!😁
We are glad to meet here
Ahmed Awais, CTO & Co-founder of GRPL
CTO & Co-founder of GRPL, Ahmed Awais
Hello all!
CryptoDiffer team
Q1: Can you introduce yourself to our community ?
CTO & Co-founder of GRPL, Ahmed Awais
Firstly, hello all again. I am Ahmed awais, CTO of GRPL Finance. I am a Blockchain and cryptocurrency developer having expertise in Blockchain Architecture, Wallet platform, Smart contracts, crypto currency fork and Exchange development on blockchain space.
I worked on crypto currency APIs like web3 and smart contracts’ developments using Solidity, developed Dapps, decentralized application publishing their data and interacting with the blockchain.
CryptoDiffer team
Can you briefly tell us what is GRPL in 3-5 sentences?
CTO & Co-founder of GRPL, Ahmed Awais
GRPL is an elastic supply token which uses Fibonacci retracement levels as a formula in its rebase system, also backed by Nash Equilibrium to teach its missions and visions to investors by encouraging them to move together, and keep the balance this way.
CryptoDiffer team
Q3: Let`s now talk about the milestones you have achieved so far and about your upcoming plans
CTO & Co-founder of GRPL, Ahmed Awais
To be honest, we are still so early if we consider we have just closed our private sale rounds, and will launch ICO on 15 December.
We have seen a great interest by investors and the community, and it encourages us to create new partnerships, and to apply our roadmap that we have promised to our community, slowly but surely.
Our tests are done great and our contract is being audited by Zokyo, also with great diligence.
We aim to create a platform for those who seek for passive income with our Gold Sac Liquidity Mining and Staking Programme, and traditional Staking Programme backed by Ferrum Network, DAO and NFT platform for those who seek for fun and also passive income, with providing them profits by GRPL.
CryptoDiffer team
Awesome, a lot of updates to come out!
Thank you for great answers!
I think it is time to start community questions round!
Cryptodiffer Community
Q1. GRPL said its bringing permanent changes to both the crypto market and the rebase system. Could you tell us how this will be achieved?
Q2. GRPL’s name is often mentioned together with projects such as AMPL and RMPL, could you tell us what actually distinct you from them?
CTO & Co-founder of GRPL, Ahmed Awais
1- Projects which have rebase protocols often gets hype fast, but collapses faster. We are more than project with just a rebase procotol. We will try hard to make GRPL more like a DeFi project by providing Yield Farming, Staking, DAO and NFT to holders which means we are here to create value rather than just a profit to holders with rebases.
2- Completely our rebase system. Most of them only consist of 4 mathematical formulas in their rebase systems, not more. But this is not sustainable in long-term.
Cryptodiffer Community
What are the leading utilities of $GRPL token in your ecosystem ? Can you please share $GRPL Tokenomics ?
CTO & Co-founder of GRPL, Ahmed Awais
We have allocated 1 million GRPL tokens for Gold Sac Staking Programme which encourages investors to add liquidity on Uniswap and earn GRPL tokens. Enough? Of course not. We will also launch our Gold Treasure Staking and Yield Farming Programme by creating multi-chain platform stakers!
Cryptodiffer Community
Do you have any new partneship recently? And what advantage of this partnership to the project?
CTO & Co-founder of GRPL, Ahmed Awais
Yes. We’ve just partnered with Ferrum Network for our “traditional” staking programme for those who do not want to add liquidity on Uniswap and it provides to earn GRPL by locking GRPL on the platform. More partnerships will come.
Cryptodiffer Community
Do you think of one of the factors of you success is that GRPL uses $GOLD⚜️ rather than $USD💵?
CTO & Co-founder of GRPL, Ahmed Awais
We preferred gold because; it is used both as a barter and a value storage tool. It is a real value that has been considered valuable in every period of history and can not be ignored by no one.
It is the safe haven in the global economy as well as the most durable money against economic shocks. The source of price movements in gold-based. systems is, as a rule, not monetary. It varies according to the demand and supply.
Cryptodiffer Community
I am interested in the issue of the security of a smart contract, have you performed an audit by third-party audit companies? Can you be sure that the funds are safe?
CTO & Co-founder of GRPL, Ahmed Awais
As I have already said, GRPL is being audited by Zokyo Company as we all know that most of the investors are that is to say “afraid” of the security of the contracts.
Cryptodiffer Community
How does GRPL intend to stabilize the price, considering the volatile nature of the cryptocurrencies market? How do you try to ensure that the market value of the GRPL token remains the same before the following rebase?
CTO & Co-founder of GRPL, Ahmed Awais
As far as we know, none of the rebase projects are able to solve the Uniswap price update problem, but we are. People will not worry about the value of the GRPL, the price will be updated after the rebase. You’ll be surprised.
Cryptodiffer Community
The ampl rebase did not work well, what is the difference GRPL in this regard?
CTO & Co-founder of GRPL, Ahmed Awais
You cannot debeg the supply by reducing or increasing the money in users’ pockets.
You can balance the price by changing the exact amount of demand and supply. You must leave this to the investors’ own preferences.
Our goal is to motivate investors to make the right choice for the audience by providing motivation to their preferences.
RMPL and AMPL projects were designed incorrectly.
Cryptodiffer Community
Hello there; I saw a brief information about Binance in your group. Can you give us information about this issue?
CTO & Co-founder of GRPL, Ahmed Awais
We are at the beginning of a long road. We have important steps to take. After we’ve accomplished these, we will be ready. Our lawyers meet with Binance. We want to be the first rebase project to be listed on Binance.
Cryptodiffer Community
What’s the killer products and services does GRPL offer the community?.
CTO & Co-founder of GRPL, Ahmed Awais
DAO and NFT are the most promising commitments that a rebase project can offer to its investors. This is why we think GRPL is more than a rebase project, by providing all of these like other DeFi projects.
Cryptodiffer Community
What made you came to the idea that GRPL would use two different rebase systems?
CTO & Co-founder of GRPL, Ahmed Awais
We could target 62$ price with only 1 rebase system but it would not be different than other rebase projects in terms of sustainability. There should be another function to prevent pumps and dumps which we think the best option is Golden Ratio as you can find it everywhere in the nature, even in economy.
Cryptodiffer Community
Can you explain how is your Tokenomics Distribution? How many tokens Will be minted ? And How many tokens Will be locked by the team?
CTO & Co-founder of GRPL, Ahmed Awais
There are locked tokens by period of 6-9-12 months belong to the team. GRPL doesn’t provide any mint actions but to add/burn the circulating supply in the rebase system.
Cryptodiffer Community
How does GRPL plan to dominate the DeFi market? How easy is it to use GRPL Finance?
CTO & Co-founder of GRPL, Ahmed Awais
You can visit https://grpl.finance/dashboard to see all features of our rebase system. But the numbers are not real, left from our tests 😉
Cryptodiffer Community
Are all the tokens generated agoing to be backed by gold at some ratio? Or is there a pool pegged to gold?
CTO & Co-founder of GRPL, Ahmed Awais
GRPL is not backed by gold. It is a rebase project that sets a gram of gold as the target price and motivates the masses towards this goal. To achieve this goal in the rebase system, we also need Golden Ratio to keep the balance, also back it by the philosophy of Nash Equilibrium.
Cryptodiffer Community
I’m curious to find projects that use Fibonacci as a guide for price overrides. Is it an original idea, or are they copying it from some other similar project? Have they tested it previously?
CTO & Co-founder of GRPL, Ahmed Awais
I remember this question from our latest AMA with another group and I answered “We’ve done great research by seeking for similar projects with GRPL but we couldn’t one yet, please contact with us if you find one.”
And our message box is still empty 😇
Cryptodiffer Community
Can you kindly explain the functions of the Fibonacci correction levels, Nash Equilibrium and Golden Ratio in the GRPL Ecosystem ?
CTO & Co-founder of GRPL, Ahmed Awais
I’ll answer this question with the text we’ve already written our website:
Grpl uses two different rebase systems. First of all, calculations are made by basing fibonacci prices as the target price. In this way, target prices which repeat each other can be created. Actually, all target prices in the first level rebase protocol are made to get closer to 0,618 golden ratio. Increase or decrease at the circulating supply are determined by this rate. When the rates between target prices match the 0,618 golden ratio, second rebase formula is applied. The price is equalized to 1 gram of gold by increasing or decreasing the circulation supply in the second rebase protocol. The reason of all these rebases to reach the 1 gram of gold. We prefer to use gold which has been used throughout history and has a securitized value on its own instead of US Dollar which has unlimited supply.
Cryptodiffer Community
Assuming that grpl has reached its target of 1 g of gold, will it be a stable coin later or have different targets.
CTO & Co-founder of GRPL, Ahmed Awais
Daily target prices can still be created by the rebase system, which may result in that GRPL’s hit to 100$-200$ or more. But the main target price will remain 62$.
Cryptodiffer Community
GRPL is using gold on their rebase and Fibonacci sequence as formula on the system but what kind of oracles do you use to determine the value of these continuously?
CTO & Co-founder of GRPL, Ahmed Awais
Oh, I should answer this. We are in touch with Chainlink to provide the oracle price continuously.
Cryptodiffer Community
At the moment, all tokens go down in price even with great partnerships, hype, marketing, and working products,… So, what the challenges do you have and the plan to make Your project strong popular? Are you see it as an opportunity while the current market decline?
CTO & Co-founder of GRPL, Ahmed Awais
We do not believe that anyone will sell at a price below its cost. Especially, selling below the private sales price means that the project’s team makes sales. The main goal of our project is to prevent greed and ensure that the masses receive optimum profit. For this reason, our tokens belonging to the team are locked. We want other project teams to be honest about this because we will always be honest with you.
Cryptodiffer Community
What’s new and how is Fibonacci Sequence used in the grplfinance protocol? When the market fluctuates continuously for seconds, how will GRPL’s system process and calculate for minutes to ensure that everything is happening continuously?
CTO & Co-founder of GRPL, Ahmed Awais
I’ll answer this from whitepaper:
John Nash proposed that it is only if everyone in the group follows the best path for the society, not only for themselves that it is possible for everyone to win (take the blonde). John Nash proposed that success of the individual is utterly intertwined with that of the community. He rejected the ‘every man for himself’ paradigm and encouraged the adoption of one involving teamwork and joint strategy. People provide optimum benefit if they consider the benefit of society while providing benefit for themselves. Yes but how ? Is it possible to apply this theory in economics? Human urges always want to get the maximum benefit. Unfair distribution of income always occurs, as individual interests override Community interests. What if an outside intervention ensures that individuals’ priority is social benefit. And if this intervention is
supported by a divine mathematical formula?
Lets taking the Nash equilibrium one step further, it is necessary to introduce a natural mathematical structure that will control these impulses that people have, and a mathematical method that can be beneficial for both the society and themselves and willingly share this benefit.
This mathematical structure comes from the divine ratio, the Golden ratio. .” The golden ratio is the name given to the constant number equal to 1.618 in mathematics, and the symbol used for its expression is “Phi”.
Every being in the universe is in perfect harmony. The mathematical meaning of this harmony is the Golden ratio. The human brain Works mathematically. It is a part of this enormous harmony in mathematical movement. The most obvious reflection of this harmony is the Fibonacci formulas. In our rebase system, the main purpose is to reflect this perfect harmony to daily price movements and to ensure that the masses make the right decision. You will see Fibonacci’s footprints in every part of our system. While you cannot make perfect choices in investments, we help you to choose perfection.
Cryptodiffer Community
The problem that any starting token must affront is the possibility of huge DUMP due Big whales shorts, so I have understood that GRLP has a method to prevent that, so can you explain It please?
CTO & Co-founder of GRPL, Ahmed Awais
Both our rebase system and our distribution of tokens are determined to prevent the early dump from investors. We are working hard to prevent dumps with great diligence.
I think second round’s all unique questions are answered now. If you think we have missed your question please kindly join and do not hesitate to ask your questions https://t.me/grpltalk
CTO & Co-founder of GRPL, Ahmed Awais
I think that is nearly all the questions!
Cryptodiffer TEAM
Thank you for you answers, it was an insighfull session
Thank you everyone who participated, great questions as always!
