Exclusive AMA with the CROBLANC team on DeFi for Science

Exclusive AMA with the CROBLANC team on DeFi for Science

Today, the Mountain Labs team participated in an AMA hosted on the social media group DeFi for SCIENCE. The team spent close to an hour answering questions from the Hiijo community, which you can find below. We use this opportunity to thank all the members of DeFi for SCIENCE for their warm welcome.

Q: Can you tell us about the CROBLANC project and explain what it will bring to the Cronos chain?

A: CROBLANC is a Yield DeFi aggregator exclusively available on Cronos, which comes on top of the most famous platforms, offering DOUBLE YIELD on your LPs. CROBLANC is the token of this dApp.

Similar to a meme token but at the center of a farming ecosystem, we hope to offer a more interesting product than some small and worthless projects that don’t last long, or even end up on an outright rug.

Croblanc brings novelty because the Cronos chain currently almost only hosts Pancakeswap forks which have only taken a lick of paint. Croblanc is not the fork of any project, it was developed as a new tool and brings some new blood to DeFi. The code comes in part from Pancakeswap and Beefy but has been reassembled to form a new platform concept, coming close to what Sunny is doing on Solana.

Q: So if I summarize, we create our LPs on AMMs (VVS, Cronaswap, Crodex) and we generate the initial farming token and Croblanc?

A: Exactly, we are not a dex, you deposit cash on the existing DEX, then you stake on Croblanc. You will win the native token of the underlying platform as well as the CROBLANC token.
We only take a small commission which is redistributed to CROBLANC holders after being converted to CROBLANC.

Q: In this regard, we have discovered a little about the Croblanc project through @Mzrkd who is an active scientist 👨‍🔬 but we do not know anything about Team CROBLANC. Can you tell us a little about it?

A: The team is anonymous. We are 2 developers as well as 2 people in marketing including @Mzrkd who is an active member here.

▪️The 1st dev, based in France, has experience in institutional software and is currently in transition to the Web full time;
▪️2nd dev, based in Hong Kong is manager of a Web agency based in Paris and Hong Kong, already has experience in web3 / Solidity projects (small NFT platform on BSC and private auto-compound pools for Curve and Aave) ;
▪️1st Marketing, based in Switzerland, works as Regional EMEA Director for a Fortune 500 US company;
▪️2nd Marketing, based in Switzerland, works in an IT company and has contributed a lot to growing the community.

We have all been part of a private group for a few years on which we share our experiences, investments, ideas, and skills.

We have put all our acquired know-how into our professional life (our “other” life, the one next to crypto!) And put our whole heart into CROBLANC.

What is Mountain Labs? Is the Croblanc tokenomics linked to another project?

Mountain Labs is the name chosen by our team. We plan to develop simple and useful dapps for DeFi users to intelligently “extract” value from every chain where liquidity and volume are present.
We don’t have any other idea yet, we are focusing on CROBLANC, because even after the launch the work has only just begun!

Q: And speaking of tokenomics, is Croblanc a reflect token?

A: Croblanc is not deflationary, we have no automatic burn procedure.
However, the total supply is set at 100 million tokens, it can never be exceeded. When there are 100 million tokens in circulation, farming will stop.

We have integrated 2 burn methods: a temporary burn, which will allow the farms to reissue tokens at a later date, and a definitive burn which forever reduces the maximum supply.

We haven’t announced any burn trades yet, but of course we’re thinking about it in order to keep the price of the token down.
In fact, half of the commissions charged on farm returns can be automatically used to buyback CROBLANC on dexes, and we expect to burn those tokens afterwards.

Your Blancpaper (readable at https://app.croblanc.com/croblanc_blancpaper-v1.4.pdf 📄) addresses economic and technical themes in a concise manner. What about securing the funds raised? Have you planned an audit budget for Smart Contracts before the launch?

We are not closed to booking an audit, however history has shown us that the value of audits is now more marketing than technical, and we regret it.

In computer security there is a notion of “attack surface” which consists of asking where we can be attacked. Those who follow Rekt news can see that almost all DeFi hacks are generally either due to the manipulation of oracles, or to an abuse of authority on the part of the project administrators.

We have secured these two points as much as possible: our smart contracts do not depend on any oracle, they are therefore insensitive to flash loan attacks; and the majority of actions possible by administrators have hard-coded limits, such as a maximum token issuance speed, and each sensitive action (updating a DEX address, adding a pool with permission from mint , for example) must be subject to a 24-hour notice with the emission of a log blockchain (Event) visible to everyone on the blockchain.

We also plan to switch the administration addresses to a multisig as soon as the whole project is deployed.

Q: During the private sale and the public sale, you spoke of linear unvesting over a period of 100 days. What does that mean ?

A: Tokens purchased in presale are available at the claim without time restriction, with each validated block part of your allocation can be claimed.
To put it simply, 1% is claimable every day until it reaches 100 days.

Private and Public have the same vesting to avoid big unlocks, and the fear of the dump that goes with it.

Some people worried about the impact of the airdrop campaign that we made to popularize the platform: only buyers of presales will be able to get their tokens, this only concerns a small handful of people, and only for a hundred of tokens per person. Everyone else will have to wait 100 days to claim their tokens.

Q: What are the mechanics or actions planned for the price of Croblanc to appreciate over time?

A: As I explained quickly above 2/3 of the commissions collected by the dapp is paid to the users of the dividend pool. Users are therefore invited to own and staker CROBLANC in order to win CRO!

This tokenomic is original: the number of CROs received as dividends depend on the TVL and not on the price of the CROBLANC, this means that the average APR of the dividend pool will be inversely proportional to the price of the CROBLANC.
In other words, if CROBLANC drops too much, dividends will become very profitable and will encourage users to buy CROBLANC for the staker.

It is possible for us to allocate half of these fees to the automatic redemption of CROBLANC if necessary; As we refuse to sell them for profit at the expense of the users, it is possible that these tokens will be burnt.

Q: To this will be added marketing operations?

A: Of course, the remaining third goes into the project treasury contract so that we can finance marketing operations

Q: To allow scientists to get ahead, do you have a roadmap to share with us?

A: First of all on our launch: the Private sale is over, the Public sale is still available until 2pm tomorrow, so there is still time to take advantage of it. A major part of Cronos users do not know us yet, and the funds raised will allow us to make ourselves known post-launch.

On the public sale, we reduced the available supply to 2 million tokens, our soft cap having been reached.

The CROBLANC Farm should be live from December 22 at 5 p.m. and will support the Cronaswap, VVS and CrowFi platforms. We are in discussion with CrowFi in order to obtain a farm on our pair which would be hosted on their dex

If the marketing budget allows it, we want to launch a collection of NFTs (utilities or not) that could be bought in stablecoins or in CRO, and whose funds raised would be used half for buyback from Croblanc and half for charitable actions in real life.

This is just one idea among many: rather than promising fancy road maps that we’ve all seen elsewhere, we’d rather not promise anything just yet.


Community Questions

Q: I would like to know how the CROs will be distributed to CROBLANC holders. Will they be distributed automatically on the platform (which must be harvested) or sent directly to the wallets?

A: CROs will have to be claimed on the smart dividend contract.

Q: Are the team’s tokens locked?

A: Simple: there are none!

Q: You say “Croblanc is the fork of no project”. Do you think this is a strong argument knowing that this was also the case with the Levyathan project?

A: Regarding the Levyathan project: they actually made a big unacceptable mistake by forgetting the reentrancyguard on a method that looped in on itself. This is what happens to projects that are delegated to Thai freelancers.

Q: Very good, your tokenomic seems to be rather original compared to your competitors (I see above all Adamant and Kryptodex for my part), and it seems that it is well thought out so that CROBLANC holds up in the medium term. But what is your long term vision? The real usefulness of your project? How do you plan to retain users, other than juicy project launch APYs?

A: This is the whole challenge of the project, we are thinking about it and already have a few ideas including NFTs.

Q: Question 5: Any plan for cross-chain?

A: We are thinking about it but the name Croblanc is really suited to Cronos…

Q: Hello, when will the farm contracts be published on your github?

A: They will be released before the launch, we were still finalizing the unit tests. We test all possible cases to leave nothing up to chance.

Q: If I want to invest a large amount and buy a lot of $CROBLANC, do you have OTC deals?

A: Yes, you can contact us in DM. There is a smart contract ready for this. We have started discussions with several investors who wants to put a large amount, everything is not finalized yet but note that *nobody* will have non-vested tokens.

Q: You compare yourself to Sunny. Knowing that the price of the Sunny is sinking a little more every day, is this really reasonable?

A: It is true that Sunny looked more like a social experiment than anything else, the project seemed to be abandoned, the challenge for us is to continue to bring the project to life.

If we launch other projects, it is certain that they are linked to CROBLANC, we want to create an ecosystem that communicates.

Q: What will become of the unsold tokens and the supply that was initially superior for the dirty public?

A: They just won’t be minted.

Q: So the total supply will not be 100 million?

A: The total supply remains at 100 million. In fact the tokens are gradually mined by the pools until they reach 100 million.

Q: Are the seed sales contracts on GitHub, if so, in which file?

A: At the moment we do not publish seed sales contracts on GitHub.

Seed investors may have the right to have their allocation in the dividend pool from the start but it will also be locked with vesting.

Q: Are you going to whitelist the yield optimizers? (partnerships in sight?)

A: Yes by the way on this subject we wanted to integrate MMF (one dex among others) and we are disappointed to see that they prohibit interactions with other smart contracts.

I understand the fact of blocking autocompounders, but I find that this goes against the values of DeFi which wants dapps to be able to communicate and interconnect together.

Q: Will there be an emergencyWithdraw function?

A: Yes and it is not buggy like those who have recently rugged.

Q: So VVS and MMF are not part of your partners if I understand correctly?

We are in discussion with MMF to be whitelisted, because we do not self-compound, so not a risk for them.

Q: What is the impact of the full moon?

A: Every month, on full moon days, yields will be doubled for 24 hours. It’s the FULL MOON BOOSTER.

Q: So you forked a classic emergencyWithdraw, not custom code?

A: There has been customization in all directions but the emergencyWithdraw remains a great classic.

Q: So why do custom, knowing that custom codes have a lot more risk than forking code that has been battletested?

Because the classic MasterChef and Beefy / Autofarm do not double yield. Here we have double yield or even + Autoswap in CRO, send to dividends, auto buyback, etc.

You can rest assured, we did not reinvent the wheel, we are mostly using MasterChef and Beefy code merged together.