AMA Recap — The Block Circle

13 min readJun 9, 2021

A detailed Transcript of Our Recent AMA Session

Elite Four Lance, [Jun 7, 2021 at 11:34 AM]

We are from Retro World, the nostalgia fuelled yield aggregator and optimisation platform pushing the boundaries of traditional DeFi ecosystems

https://t.me/theblockcircle/214836

Crypto Mount || theblockcircle, [Jun 7, 2021 at 11:35 AM]

Welcome @DrKong

https://t.me/theblockcircle/214837

Dr Kong (Will Never PM Asking for Funds), [Jun 7, 2021 at 11:36 AM]

Hello and thank you for having me

https://t.me/theblockcircle/214838

Crypto Mount || theblockcircle, [Jun 7, 2021 at 11:37 AM]

Please introduce yourself @DrKong

https://t.me/theblockcircle/214839

Dr Kong (Will Never PM Asking for Funds), [Jun 7, 2021 at 11:37 AM]

Our offering includes farming, staking , R-Vaults (for LP token optimisation) , Gaming and NFT Rewards

Which are all underpinned by our smart routing feature R-Adaptive

https://t.me/theblockcircle/214840

Dr Kong (Will Never PM Asking for Funds), [Jun 7, 2021 at 11:38 AM]

We began development of the Ecosystem in the final quarter of 2020, with a goal to tackle the traditional issues faced by many major players in the yield-optimisation and aggregation sector

https://t.me/theblockcircle/214841

Dr Kong (Will Never PM Asking for Funds), [Jun 7, 2021 at 11:39 AM]

Namely : Economic structural , Reward attractiveness and Token dilution

https://t.me/theblockcircle/214842

Dr Kong (Will Never PM Asking for Funds), [Jun 7, 2021 at 11:41 AM]

the first step was to address the supply side issue relating to block emissions and reward distributions : hence we separated the lead and farming token (Retro & Gold) to ensure that value accrual and deflationary metrics became a core element of our test-runs

https://t.me/theblockcircle/214843

Dr Kong (Will Never PM Asking for Funds), [Jun 7, 2021 at 11:42 AM]

Secondary: reward attractiveness and diminishing returns of farming activities — addressed by R-Adaptives smart block emissions controls

https://t.me/theblockcircle/214845

Dr Kong (Will Never PM Asking for Funds), [Jun 7, 2021 at 11:43 AM]

Thirdly : Token Dilution is tackled by separating the lead token with DAO features and staking rewards from the farming token. Whilst also providing additional utility by enabling you to earn our farming token with the Lead

https://t.me/theblockcircle/214848

Crypto Mount || theblockcircle, [Jun 7, 2021 at 11:45 AM]

Awesome

https://t.me/theblockcircle/214849

Crypto Mount || theblockcircle, [Jun 7, 2021 at 11:45 AM]

Can you please tell us about your role and about your background as how you joined crypto and all

https://t.me/theblockcircle/214851

Elite Four Lance, [Jun 7, 2021 at 11:51 AM]

My personal background was in design and marketing. I am responsible for front end UI/UX and wanted to bring a natural feel to the platform.

People are used to seeing simplistic clones of PCS/UniSwap but as we wanted to push the nostalgic theme we had to break down these barriers and throw it right back to our Windows 98 twist you can see on our final UI design.

This was challenging as it was different from the paint and canvas I am normally used to, but myself and @DrKong have built up a very supportive team that has enabled me to complete what you see today.

https://t.me/theblockcircle/214853

Elite Four Lance, [Jun 7, 2021 at 11:54 AM]

My own introduction to crypto started years back for personal investment purposes. I am a strong believer for future world use cases of crypto

https://t.me/theblockcircle/214854

Elite Four Lance, [Jun 7, 2021 at 11:54 AM]

And have now been provided the opportunity to contribute and showcase my own appetite to design, I hope you guys like it

https://t.me/theblockcircle/214856

Crypto Mount || theblockcircle, [Jun 7, 2021 at 11:55 AM]

Sounds Cool

https://t.me/theblockcircle/214857

Crypto Mount || theblockcircle, [Jun 7, 2021 at 11:55 AM]

Now we will take 5 Questions from Twitter and then Group will be opened for the community

https://t.me/theblockcircle/214858

Crypto Mount || theblockcircle, [Jun 7, 2021 at 11:55 AM]

So everyone be prepared

https://t.me/theblockcircle/214860

Crypto Mount || theblockcircle, [Jun 7, 2021 at 11:56 AM]

1. What would be their deflationary measures for their inflationary token?

https://t.me/theblockcircle/214861

Dr Kong (Will Never PM Asking for Funds), [Jun 7, 2021 at 11:59 AM]

We have multiple measures in place to curtail both the economic and structural issues that are a natural biproduct of the block emission (reward distribution) process

1. Dual Tokens : the farming token being separated from the lead token allows for two different streams of behavioural opportunity costs to develop

https://t.me/theblockcircle/214862

Dr Kong (Will Never PM Asking for Funds), [Jun 7, 2021 at 11:59 AM]

Individuals face the direct choice to continue farming in one platform or choose another , hence directly effecting the pricing schedule of the native farming token

https://t.me/theblockcircle/214863

Dr Kong (Will Never PM Asking for Funds), [Jun 7, 2021 at 12:00 PM]

By having a separate utility and DAO token, ecosystem participants can for example maintain their utility access via holding and staking with Retro

https://t.me/theblockcircle/214864

Dr Kong (Will Never PM Asking for Funds), [Jun 7, 2021 at 12:00 PM]

2. In terms of our farming token, GOLD is very intuitive and it interacts directly with our masterchef contract

https://t.me/theblockcircle/214865

Dr Kong (Will Never PM Asking for Funds), [Jun 7, 2021 at 12:01 PM]

To synonymously control it’s A. Block emissions rate and B. Circ supply ( via automatic burns) upon transactions which are carried out on-chain

https://t.me/theblockcircle/214866

Dr Kong (Will Never PM Asking for Funds), [Jun 7, 2021 at 12:03 PM]

We have no need to carry out manual burns of our farming token as the process is carried out in real-time on chain throughout the farming, staking and even optimisation process — importantly this also ties into R-Adaptive block emissions controls

If the lead contract detects an environment that the supply of GOLD is increasing at an excessive rate , it will make a smart mapping call to the Lead Contract and reduce the block emissions

https://t.me/theblockcircle/214869

Crypto Mount || theblockcircle, [Jun 7, 2021 at 12:03 PM]

First one answered so well

https://t.me/theblockcircle/214870

Crypto Mount || theblockcircle, [Jun 7, 2021 at 12:04 PM]

Let’s jump on to the next one

https://t.me/theblockcircle/214871

Crypto Mount || theblockcircle, [Jun 7, 2021 at 12:04 PM]

2. The common problem that often accours DeFi projects is that smart contract vulnerability can lead to loss of funds, what steps has your projects taken for solve to fix this major problem and prevent such occurrences in the future?

https://t.me/theblockcircle/214872

Dr Kong (Will Never PM Asking for Funds), [Jun 7, 2021 at 12:08 PM]

Yes this is one of the core aspects of concern for both investor and developers in all sectors of DeFi

We endeavour to maintain the utmost security and integrity of our platform and ecosystem throughout its lifecycle

To this end there several measures we believe are essential to implement

1. The removal of the Migrator Code : the migrator code is a legacy tool present in a lot of yield farms that allows for mass migration of LP tokens by the deployer wallet at any moment. AMM’s such as PCS still have this present in the protocol. It is very dangerous and a high severity vulnerability. We are pleased to notify everyone that we have removed this back end potential for exposure from our platform

https://t.me/theblockcircle/214873

Dr Kong (Will Never PM Asking for Funds), [Jun 7, 2021 at 12:11 PM]

2. Another key tool we can utilise to mitigate the external risk and maintain integrity is via an audit.

We know that there are several audit companies out there, however many protocols tend to carry out singular audits at the genesis period and feel that this is sufficient

However this is not the case and threats are continual hence we will pledge to continue to Audit all additional deployments , vaults , smart contracts and back-end additions to our defi ecosystem

We have carried out an initial Audit with TechRate that was passed with high integrity and low risk scores and we are in talks with Certik to carry out our holistic pre launch audit including the review of our new feature our R-Vaults

We will also be receiving the Certik shield and Skynet protection upon completion

https://t.me/theblockcircle/214874

Dr Kong (Will Never PM Asking for Funds), [Jun 7, 2021 at 12:11 PM]

Our dedication to continual review and external opinions will be continual to ensure we can mitigate risks to a level of low probability

https://t.me/theblockcircle/214876

Crypto Mount || theblockcircle, [Jun 7, 2021 at 12:12 PM]

3. Many new cryptocurrency projects develop well at first, but then fail to achieve good results. How will you manage and develop your project to gain a position in the market and become a successful project in the cryptocurrency?

https://t.me/theblockcircle/214879

Elite Four Lance, [Jun 7, 2021 at 12:21 PM]

Sustainability is one of our core values and we have spent extensive time in the planning phase to ensure our ecosystem grows and develops at a progressive and continual rates.

One factor is dependent on the technological offering of the protocol.

To this end we have deployed on main net a fully functional farming, staking and DEX/SWAP ready for global usage. By the end of June our smart optimisation vaults will be part of our ecosystem as an additional dApp that will enable users to stake their favourite LP tokens to earn boosted APY/APR via R-adaptive.

For example, we know many people hold Cake. You will be able to stake your cake LP In our vaults and earn up to a 3x multiple annual yield in comparison to staking on pancake swap itself, this will be the same for BUNNY/AUTO and many other popular Bsc projects that would like to use our vaults.

This is similar to beefy finance/ Ape Swap.

We also know how important NFTs are and immortalising real world assets in the blockchain. We have the GALLERY feature on our UI that will showcase our own designs and we are working with industry leading partners and artsiest to ensure our selection of both 2D and 3D NFTs have a real long term value proposition.

https://t.me/theblockcircle/214880

Elite Four Lance, [Jun 7, 2021 at 12:24 PM]

To continue, we will be also hosting a weekly RETRO WORLD Gaming League. This competition will look to give a space away from the markets for our community to compete against one another in a selection of Retro Games for high scores. The league will be rewarded with not just tokens but also a selection of 2D/3D NFTs. This idea is to mix up the options we give the community as the enter the platform.

https://t.me/theblockcircle/214881

Elite Four Lance, [Jun 7, 2021 at 12:25 PM]

Lastly, one of the largest value accrual prospects of being a holder of our lead token RETRO is the accessibility of the very best DeFi tools. We know how important it is to be able to move your favourite tokens throughout different block chains hence the Retro Bridge will be coming soon to our ecosystem

https://t.me/theblockcircle/214883

Crypto Mount || theblockcircle, [Jun 7, 2021 at 12:27 PM]

4. Nowadays nfts and yield farming and governance are too popular so do you plan to venture into any of these if not then what is your plan to gain popularity and mass adoption ?

https://t.me/theblockcircle/214884

Dr Kong (Will Never PM Asking for Funds), [Jun 7, 2021 at 12:32 PM]

Yes, we are aware of the common nature of these offerings. However due to the infancy of technological development we as a community are only touching the surface of what is possible on-chain.

The scope of NFT’s themselves will allow for digital signatory ownership of real world assets which will change the global infrastructure and approach to trade

In terms of our Ecosystem we will continue to remain competitive with the latest on-chain capabilities and push the boundaries.

We want our ecosystem to not only be strong on the technological aspect, but also the social and human level.

Hence we will continue to push aspects such as the Retro League, Gaming , NFT rewards and fun/ intuitive ways for people to earn and remain engaged. We will foster new partnerships with different protocols and ecosystems and bridge the gaps of understanding and limitation

https://t.me/theblockcircle/214886

Crypto Mount || theblockcircle, [Jun 7, 2021 at 12:32 PM]

5. Will there be a dashboard with an easy to use and understand UI/UX to see our farming yields/APY/multipliers to get a better understanding of our passive income grow?

https://t.me/theblockcircle/214887

Crypto Mount || theblockcircle, [Jun 7, 2021 at 12:33 PM]

Guys this one is the last one from Twitter

https://t.me/theblockcircle/214888

Crypto Mount || theblockcircle, [Jun 7, 2021 at 12:33 PM]

After this question, we will open the group for you…so be prepared with your questions.

https://t.me/theblockcircle/214889

Elite Four Lance, [Jun 7, 2021 at 12:37 PM]

Yes, we are considering partnerships with yield watch and d fox to provide our farmers with a clear and understandable view of their earning schedule. It is also under consideration that we build our own smart dash board directly linked to individual user profiles in the retro world ecosystem for example you will be able to create your own unique user profile attached to your own NFT from our gallery. This user profiles will be able to have direct access to the retro smart dashboard which will display i.e. forecasted earnings for all open positions for the next 30/90 day and 1 year period

https://t.me/theblockcircle/214891

Crypto Mount || theblockcircle, [Jun 7, 2021 at 12:39 PM]

Great

https://t.me/theblockcircle/214892

Crypto Mount || theblockcircle, [Jun 7, 2021 at 12:39 PM]

So guys the team has answered all questions from the twitter

https://t.me/theblockcircle/214893

Crypto Mount || theblockcircle, [Jun 7, 2021 at 12:39 PM]

And now we will open the group for your questions

https://t.me/theblockcircle/214902

Hermawan | Trader✓, [Jun 7, 2021 at 12:40 PM]

When the price is seriously DUMP, projects can lose their community. What is your plan to make product-oriented community (BELIEVERS) that support longterm?

https://t.me/theblockcircle/214903

Crypto Mount || theblockcircle, [Jun 7, 2021 at 12:40 PM]

@DrKong

https://t.me/theblockcircle/214904

kuluk and uhuk, [Jun 7, 2021 at 12:40 PM]

What’s the uniqueness of your project that can not be found in other project that’s been released so far? give me 3 reasons why I should choose your project ?

https://t.me/theblockcircle/214905

Mayank, [Jun 7, 2021 at 12:41 PM]

Q) How do you propose to encourage people to farm on Retro with their cake tokens besides the obviously high APY ? What are your marketing plans ?

https://t.me/theblockcircle/214906

Hermawan | Trader✓, [Jun 7, 2021 at 12:41 PM]

and where i can buy your token ?

https://t.me/theblockcircle/214907

Dr Kong (Will Never PM Asking for Funds), [Jun 7, 2021 at 12:42 PM]

Yes by the implementation of 1. dual smart tokens 2. R-Adaptive and 3. A strong DeFi tool release we believe that we can offset the behaviour tendencies to not hodl our ecosystems native tokens because we are a comparatively more attractive option in comparison to other platforms

https://t.me/theblockcircle/214910

to the moon, [Jun 7, 2021 at 12:44 PM]

What are your main goals for the next 3–4 years from now ? How do you plans to grow and gain more real-adoption?

https://t.me/theblockcircle/214911

Elite Four Lance, [Jun 7, 2021 at 12:45 PM]

Great question.

Firstly We have tried to visually separate ourselves from any other yieldfarm/AMM. A lot of work has gone into the UI/UX to make it not just memorable but user friendly.

We have a low fixed supply of Retro tokens, unlike many other yield farms we are using a dual ecosystem to keep our supply of Retro manageable and non Inflammatory.

We are offering more than just Farming and Staking. When the Gaming league initiates we expect a real competitive nature within the community

https://t.me/theblockcircle/214912

Vicious Napkin, [Jun 7, 2021 at 12:46 PM]

Q — do you have plans to incorporate or are you staying completely decentralized? What potential risks do you see towards the continued development of your platform? Do you guys plan to branch on to Polygon and if yes would the tokenomics stay the same? Do you see any potential drawbacks with the retro theme in adding new investors, to further that is your marketing aimed at the everyday investor or more affluent individuals?

https://t.me/theblockcircle/214913

Elite Four Lance, [Jun 7, 2021 at 12:46 PM]

We are currently in the first day of our whitelist private round.

We have a few more AMAs and marketing events before we release our public sale.

Both can be found on our dApp on our website

https://t.me/theblockcircle/214914

Dr Kong (Will Never PM Asking for Funds), [Jun 7, 2021 at 12:47 PM]

Our vaults will be industry leading in their technological aspect and attractive in terms their fee structure

1. Our performance fee charge will be lower than both bunny and beefy finance

2. Our deposit fees will be less and so will our withdrawal fees

3. We will ensure that our APY rewards continually outstrip and outperform all of our competitors

https://t.me/theblockcircle/214915

Elite Four Lance, [Jun 7, 2021 at 12:48 PM]

I believe @DrKong explained this

I have copied it below

Our vaults will be industry leading in their technological aspect and attractive in terms their fee structure

1. Our performance fee charge will be lower than both bunny and beefy finance

2. Our deposit fees will be less and so will our withdrawal fees

3. We will ensure that our APY rewards continually outstrip and outperform all of our competitors

https://t.me/theblockcircle/214916

Dr Kong (Will Never PM Asking for Funds), [Jun 7, 2021 at 12:50 PM]

We will continue to release industry leading farming , staking , vault optimisation options , multi-chain token bridging ( ETH,SOL,BSC,ADA) with the potential for multi-chain farming / staking and Yield-Optimisation also on the development schedule

As we continue to understand the interoperability measures required to successfully interact in a multi-chain manner

We will also seek additional CEX, DEX listings for our protocol — we are in talks with beefy finance to include one of our native tokens in one of their vaults also and partnerships like this will be continual for the ecosystem

https://t.me/theblockcircle/214917

Hermawan | Trader✓, [Jun 7, 2021 at 12:51 PM]

okay , do you have a telegram group or channel? If have , can you send the link?

https://t.me/theblockcircle/214918

Dr Kong (Will Never PM Asking for Funds), [Jun 7, 2021 at 12:52 PM]

Yes sure Our main links of the protocol are :

Telegram : t.me/retroworldglobal

Twitter : twitter.com/retroworlddefi

Medium : retroworld.medium.com

Lead platform : retroworld.io

IDO Launchpad : presale.retroworld.io

https://t.me/theblockcircle/214919