CryptoWizards AMA with Alchemist DeFi

Guest: Alchemist Bron and Alchemist Chris

Introduction

1. Why did you name the project Alchemist DeFi? How does it correlate with the idea of the project ?

Alchemist Bronwen:
Alchemist Defi is a Defi yield farm that allows investors to earn returns in the form of APR’s (similar to interest) and capital gains through token price increases.

We are able to maintain relatively high APR’s on our native token in excess of 500% AND keep prices stable because we have very low emissions. This means that you can effectively earn two revenue streams from our project. We also have 2 tokens, MIST and AURUM (Latin for gold). The emissions on our AURUM token are even lower than mist which is why we have been able maintain a price above $100 – last night this price went from $120 to break $200 and has now settled at +- $160.

Our MIST token has more than doubled in price in the last week and has 30x’d since the 2nd of April when our new leadership team took over the project. We actually managed to break $1 for the first time last night. So while other coins were red and suffering our coins spiked in value and are still green this morning, which we find very encouraging for the long term vision of our project. It indicates that we have a use case for any bear market when investors will be looking for steady gains.

We named it that way as we believe we can create magic and help people turn their crypto into gold

2. Could you please provide a quick self-introduction for the community?

Alchemist Defi is a Defi yield farm that allows investors to earn returns in the form of APR’s (similar to interest) and capital gains through token price increases.

Our team has a range of previous experience in terms of development and corporate background as well as being in crypto for at least 5 years each, so we know the space pretty well. We were all looking for a “safe” farm and were tired of getting “rugged” / “soft rugged” so we decided if we can’t find it with other projects we are going to built it.

That is also why our team is public, we aren’t going to run away or pull any rugs, so we have nothing to hide. Each of us has a different focus and area of speciality.

George is our dev who is backed by over 20 years of experience and is a VP of an IT firm in Aus. Chris is backed by corporate experience and years in crypto and the defi space and is great at keeping our team focused on our goals and our vision to be transparent and create a safe space. I founded my own marketing company 3 years ago after working for a decade in the financial industry as a Chartered accountant and run the marketing for the project.

3. Can you briefly introduce the project Alchemist DeFi , what are some of utlities of $MIST $AURUM ? How do you think you stand out among the competitors if there are any?

One of the biggest benefits of our project is our low emission rate, this provides our investors stability in terms of price fluctuations and provides investors a safe place where they can “park” there crypto assets while earning a decent yield and not have to constantly worry about Impermanent losses or native token decreases. This approach means that we have a user case for any bear market, and this got proven last night. Most of the market is red this morning where our MIST price went from $0.6 -> 0.9 and Aurum went from $120 -> $160.

Something else that is different about our team is we are 100% public, from dev to marketing our investors know our real names and what we look like. We are all looking forward to changing the way that defi works, there are too many projects out there that are just in it to rug people and for short terms gains.

We are all excited to bring transparency to the world of Defi. Another thing that excites us is bring our utility for our coins. I can’t say too much at the moment, as things are still being developed by the team (we are only 6 weeks old), but we want to do more than just the “normal” lottery utility.

4. Can you share the achievements the team has made so far ? what are the major achievement target Alchemist DeFi is yet to achieve . If possible also share your roadmap.

Well we actually took this project over from another developer who was trying to soft rug the community and who dumped tokens (this dev is no longer associated to us in any way). Since our team took over the project on the 2nd of April 2021 we have increased the MIST price from 0.03 to over 0.9 which is 30X and our AURUM price did the same going from +- $6 to over $160. We have also increased our Market cap and TVL 30X in the last month

We are also very proud of the community that we have been able to build on telegram over the last month. We have real long term investors who can see the bigger picture. Our community is friendly and is always sharing tips and willing to help people who are new to DeFi and yield farming, you can feel free to join our telegram group here: https://t.me/alchemistdefi

Other than price movement we have also made a lot of bug fixes that the previous dev left us with. We also changed our pool and farm structure to focus on native tokens to ensure price stability. We are also currently rolling out some front end changes as requested by our community and working on a compounding feature. You can find more information about this here: https://docs.alchemistdefi.com/the-alchemist-defi-project/roadmap

5. Whats the total supply of the token ? Could you share a detailed tokenomics of mainnet token’s supply distribution

Alchemist Bronwen:
Well our tokens are “farmable” which means that supply is not hard capped, but our emission are extremely low compared to other farms, keeping the emissions low is how we maintain a stable price and high yields. You can read more about out tokenomics here: https://docs.alchemistdefi.com/tokenomics/mist-token

It’s also worth noting that currently we have burnt over 20% of the tokens created, this burning mechanism is built in automatically into our contracts making the token deflationary. Here are our stats in terms of our token prices etc as of yesterday which we shared on our twitter page.

If you go into the farm now, you will see that our prices, TVL and MC are up significantly from yesterdays snap shot, which we are very proud of, with that being said we are still a low cap gem in our opinion as our Market cap is still less than $1 Million, which means there is a lot of room for upward growth in terms of token prices and TVL.

Twitter Questions

We as a team are not focused on the short term, we are here for the long term and our aim is to build a project that will survive the bull market and thrive in a bear market, which is what we believe will happen in the crypto space. When a bear market hits, investor are going to want to find a place where they can earn go returns on their investments (our APR’s are over 200% on BTC for example) and they are going to want a project with a stable native token price, which we have been able to maintain since taking the project over – our price has actually 20Xd since our new team took over, so we believe we are achieving our goals in that regard.

A great example of this actually happened this week, most of the market has been red, and our price actually jumped from 0.6 - > over a dollar in 24 hours, the price seems to now have settled at around 0.9. We find this very encouraging as we know that our project has a use case for any bear market that is to come.

We consider the health of a project to be directly related to tokenomics. You need to have strong tokenomics to survive in this space and we believe we have that with a very strong burning mechanism. You can read more about our tokenomics and burning mechanisms here:
https://docs.alchemistdefi.com/tokenomics/mist-token

Our burn mechanism is built into our contracts and as of date we have burnt over +- 20 of total supply. This is how we maintain a stable price and ensure that token remains deflationary. Further to the automate burns, we also do manual burns on a regular (almost daily basis) feel free to check out our twitter account where we post ever burn transaction that has been manually down with the relevant BSC transaction link: Our twitter profile is: https://twitter.com/AlchemistDefi

To new users in the DeFi space we believe that we provide a safe and friendly environment. All of our community members in our telegram group (which you can join here: https://t.me/alchemistdefi) are very welcoming to new members and are always there to answer questions.

As you mention we have 2 tokens Mist is a mystical l token that helps you turn your Crypto into Gold (Aurum). You can earn MIST in our first layer and then use that MIST to start earning AURUM in our second layer.

AURUM is Latin for Gold, and just like Gold AURUM is intended to be a store of value and is very scarce because of its low emission rate. AURUM will also have special powers in the future allowing you to cast spells (and votes).

MIST and AURUM combine very well together in both layers, and can earn you both MIST and AURUM with these pools being allocated the highest APR Multipliers, magically giving you the highest returns.

We believe that the two work hand in hand, community members and new followers today become investors tomorrow and then once they trust us and the team they start advocating for our project. We are very specific on who we partner with and who we do AMA’s with. We don’t believe in paying for tweets from “influencers” as we are not looking to attract one day investors or cause a pump and dump on our token as that is not in the best interest of our long term goals and vision that we want to achieve.

Over the last 6 weeks you would notice that we have had a steady flow of new investors and followers, we believe in steady organic growth and feel that this will be best for the project. So to answer the question directly, believe that both are equally important and we are directing efforts to both at the same time.

To answer this you need to know a bit of history about the project. The project started about 8 weeks ago under the initial dev who did try to pull a soft rug. That initial dev is no longer associated to our project in anyway what so ever.

Chris and George then bought out the contracts and effectively restarted the project – they took over on the 2nd of April, about 6 weeks ago, and I joined the team about a week after that. All of us (Chris, George and myself) were investors in the initial project and we believed that it had strong tokenomics, which lead to the team wanting to turn the project around and create a legitimate project.

The migrator code is removed from our contracts and we also have an hour timelock in place. Any changes that we make to the master contract are shared ahead of time with our community through our telegram channels. We did this most recently when we changed the structure of our pools to be more focused on our native tokens.

Our team is also 100% public, we all go by our real names, our pictures are on our twitter feeds and we share our linkedin profiles when asked. We have nothing to hide so we don’t feel we need to keep anon.

Live QnA

1. Tell me what is the key to maintaining your project? As we know, In most projects, especially those that offer results driven by sensation and scarcity, If the hype dies, Will the project die? What do you think? Can you explain?

Our goal is to be here for the long term, in the defi space it is already rare to have a farm survive a few weeks and not have the price fall off a cliff, which we have managed to do. We have done through strong tokenomics and being back by a great team and community that is growing every day.

We are trying to create hype at all, we don’t pay for tweets or “twitter influencers” as we believe that create a “pump and dump” which is not what we are looking for. All of our growth has been organic and consistent.

2. Your background says that: "Become an Alchemist and turn Crypto into Gold!", I am quite wondering about the relationship between the cryptocurrency and gold in this market, can you explain it? And how to convert cryptocurrency to Gold? Your way!

Well that is a play on words actually. Our one token is called AURUM which is Latin for Gold. The tokenomics of AURUM are set up to function like that of Gold, with a very small amount being made available per block, increasing the scarcity of the token. Currently there are less than 1500 AURUM tokens in existence, that is after about 8 weeks of being actively minted. During the same time MIST token which still has a very low supply rate has 360k tokens in existence.

So you can literally turn your crypto into Gold on our platform.

3. Token burning is useful for any project, Does ALCHEMIST DEFI have a plan to burn tokens? Because token burning is very useful in a wide variety of projects, as it can control the amount of token trades and provide greater incentives for investors

We burn tokens in many different ways, we have automatic 2% burn on every single transaction done. We also burn tokens manually on a regular basis.

You can find more information on how all our mechanisms work here:https://docs.alchemistdefi.com/the-alchemist-defi-project/automated-burning-mechanism

4. Which one of these aspects is important for you?
1-Increasing Token Price & Value
2-Empowering Platform Development
3-Building Community Trust
4-Expanding Partnership Globally
In what order?

We believe that community is very closely related to price. If you have a strong community your price will be stable and grow into the future, which is what we have been able to achieve for the last 6 weeks.

We also believe in making sure we provide a real solution, which is why we have brought in many updates in terms of our pool structure and UI.

We have made two partnerships since we took over the project, we are very specific on who we partner with so we don’t just partner with any one. Ultimately we are so we are working on all aspects, but if I had to rank them I would say:

1. Building Community Trust
2. Increasing Token Price & Value
3. Empowering Platform Development
4. Expanding Partnership Globally

5. Does not Alchemist really intend to implement NFT tokens on its platform like all the other DeFi Farming in BSC chain? And if they do implement it, why not point it out on their website or blog?

Yes we do, and it is mentioned on our website under Roadmap. The idea with the NFTs will be that you are able to give them special powers with the tokens as well as adding a governance feature for AURUM moving forward. We are absolutely serious about doing this, our lead Dev George gets super excited when we talk NFTs. We also talk about our plans for DAO moving forward in the same breath.

https://docs.alchemistdefi.com/the-alchemist-defi-project/roadmap

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The Crypto Wizarding Community. Let's travel together on the magical broomstick of Crypto to world of Peace and Prosperity 🔮Welcome Our Wizards and Witches 🔮

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