We did an AMA in POLYDeFi’s Telegram on Wednesday, 20 Oct, 1pm UTC. Thanks Prof. POLY for hosting us, we sure had a good time!
Here’s what went down:
Can you briefly describe what Timeleap is all about?
We’ll type done when we’re done so you know
I will know when you are done anyway 😌
What if it’s perpetually in drafting mode and never gets sent lol
Then I would be f***** 😂
Timeleap is a #FarmRevolution that’s built by yield farmers, for yield farmers. $TIME is our native token and it was launched in late July.
Since then, we’ve been challenging the concept and standards of typical yield farms. Currently, we have 3 key features that differentiate us:
1. Buyback-and-Make (not burn) tokenomics
3. Dimension Pools
Buyback-and-Make (not burn) tokenomics
So imagine this: A farm with a max supply and yet no additional layers, but farming still continues after max supply is reached. How is that possible, right?!
Normally, a max supply would mean that token emissions and farming would end.
What we’ve done to make farming continue even after all tokens are minted is to create an automated way to refill/top up the Masterchef (MC) contract — by buying back TIME from the market and depositing it in MC.
Farming emissions continue normally as if we never reached max supply to begin with!
Brilliant right? Infinite L1 farm with a max supply, totally unheard of.
If you’re wondering, although we do buybacks, we don’t do burns. Most projects burn tokens as a quick fix to boost positive sentiment, but the act of burning doesn’t add any real value to the protocol at all.
We wrote an 11-min thesis on medium to explain this + also drew a diagram because we’re all visual creatures.
Omg you guys are switching back and forth, love it.
Gonna let y’all have a quick look at it before we carry on with more science.
This tagteam AMA
We’ve always done it tag team hahaha
Yea, we’ve done this many times elsewhere, pretty normal for us =P
@Poly_Michael watch and learn
I’m watching it ser
I really love the buyback feature! We have the same implemented. Really good stuff. I will let you proceed with 2 and 3.
We don’t ever burn TIME, that’s just a waste of company’s shares. Instead, we store a portion of the TIME that’s bought back into our Treasury.
We believe that TIME is a capital asset to be accumulated due to price appreciation, and we plan to use it for future utility of our protocol.
Next up, we have Wormholes.
For Wormholes, think of us as your “fund manager”. We conduct independent, non-sponsored reviews for projects that we think provide a good investment opportunity.
We then add them to our Wormholes, where you only need to invest in stables or large caps based on your risk level — and earn returns in the same currency.
Just choose the farm you like and deposit e.g. USDC. Our smart contracts handle all the LP creation, breaking and compounding shenanigans in the background!
We take a multi-step process to help you get in and out in a jiffy so you can truly take advantage of Poly’s 2–3s blocktime =)
In a way, Wormholes are like your bank account, but with very high interest. Interest is paid out every hour, instead of every month or year. Money is not locked, so you get to move your funds around any time.
You get to choose your investment vehicles and diversify your risk (each Wormhole is classified according to its risk level / returns).
Better than the traditional bank account 😉
Ok we’re done with Wormholes, gonna move on to the 3rd feature.
And finally (for now),
(3) Dimension Pools
This is our latest #FarmRevolution!
So there are 2 types of Dimension Pools:
- We provide a service to our partners (like Polydefi) by autocompounding our partners’ dividend pools. So stake OCTAGON and earn even more OCTAGON!
- Stake TIME LPs and earn rewards — we’re currently working on this. Lots of benefits here to deepen TIME liquidity and contribute further to our Buyback-and-Make (by resupplying even more TIME to MC)
APRs reflected are slightly lower, due to our blocktime assumption of 2.5s + performance fees, but you get more time to DYOR instead of manually harvesting, selling, and compounding =)
Oh but you’ll defo be getting higher returns in the dimension pools than in normal pools for sure!
Soon we will upgrade our APRs to be calculated using the average blocktime over the previous 100 blocks instead, this will help bring up the displayed APRs by quite a bit 😂
We think that by helping to auto-compound dividend pools, it’ll help to confuse bots by securing wee bits of buying pressure.
Just take a quick look at our TIME charts and you’ll see tons of transactions securing a very STABLE TIME price. It’s almost as if TIME was a stablecoin, and we wish to bring this benefit to more projects in Poly.
Ok I think we’re done with this first qn 😝
Lol, first AMA with wall of text?
Yes haha. It’s really good stuff guys. I have read through your whitepaper and mediums twice now and it’s really freshing up defi.
You also totally ruined my second question. So I will get to my third.
What kind of marketing initiatives do you use to help build awareness for the Timeleap platform?
Well, first of all, we’re here, aren’t we? Doing this AMA with y’all lol
But apart from that,
1. JetFuel and Wault Finance are our official AMM partners
2. We’re listed on the platforms that matter e.g. CG, CMC, dappradar
3. We’ve done ads on most popular ad platforms
4. Now that we’ve refined our product offerings, we’re on the lookout to partner with more projects!
Beyond that, we’ve built a reputation for ourselves as really transparent and active devs and our community can vouch for it.
Look how someone’s just bullish af
That’s awesome! If you need some contacts you know where to find me!
Have you guys done AMAs with ama groups yet? Like good AMA groups. You guys would get great exposure with this roleplay in satoshiclub.
We’ve done it with matic news if you’re referring to pure AMA groups.
Exactly! That’s a good group.
And how much does that cost? 😂
Hmm let’s not talk about that 😭
Could you please provide some progress on your Roadmap and tell the POLYDeFi community what was achieved so far?
Hmm a lot of this is covered already but you might have some additions.
Lol yea we’ve covered our #FarmRevolution achievements earlier on. But what’s next on our roadmap is a biggie. We’re building Timeleap Industries, a DeFi NFT game!
We want to make investing in DeFi fun and adoptable by the masses — and Timeleap Industries is meant to be a DeFi-first NFT game with rogue-like survival and tycoon elements (asset management), as well as a story-driven plot 😉
Wen polydefi helps us raise $$
Anyways, we’re currently working on the in-game economy for NFT consumables, which has brought us to the concept of Cascading Megafarms (that will launch first before the game).
We can’t reveal too much on this yet, but we believe this will bring the money back to Polygon from other chains.
It’s based on all 4 laws of Thermodynamics, and it’s our take on having the in-game economy run itself without a need for any sort of intervention.
Our TG is all physics these days….
We just spoke about this Cascading Megafarms thing in our TG today, everyone thought I was pulling their leg.
@Dexterium123 can serve as our eye witness / alibi lol
Soon we need to change our listing category from defi / yield farming to physics class.
Is that an AMA? You really wanna open this box up here?
CLOSE IT. Leave the cat in it. But ok yes, we’re done with this qn lol.
Hahah alright, let’s open up the gates to see if the POLYDeFi community has any questions. If anybody has a question, feel free to ask.
Community question: Is the crystal token tied with the cascading megafarmz
Ok first of all, crystal is a placeholder name errbardy. And yes it’s related. We just don’t wanna release the name yet.
It’s the byproduct that’s created by the Cascading Megafarms and will be used as the in-game currency. But you can use it without playing the game either, because we’re a DeFi first project.
Haha alright ladies and gentlemen, let’s conclude this AMA and leap over to @timeleapfinance
I will leave your tags up so people know you are the Timeleapers.
Ok hop on over guys!
Thanks guys for having us over!