Hello! BlockTalkers & Blockchain Enthusiastic!
We recently hosted an AMA with Baguette Token, on September 13th at 1 PM UTC. Many of you might have participated or many of not. But we make sure no one missed out from the knowledge shared by Tor, CM of Baguette Token. So here we are up with the AMA transcript, for those who missed the live session, this blog post will be a saver & feeder of knowledge for them.
Tor: I’m Tor, a 20-year-old video editor.
I’m also the Community Manager of Baguette Token.
I discovered the blockchain-tech quite early, maybe in 2013/2014, but at the time, I didn’t pay attention to Bitcoin.
Then with the creation of Ethereum, I was taken by unconditional love for this technology with infinite possibilities.
My first crypto experience was to be one of the moderators of Presearch.org from 2018 to 2020.
I am currently working as the Baguette Token CM since mid-August.
Introduction Questions Asked By BlockTalks
Q1. Could you please introduce Baguette Token to our community in layman’s term?
Ans — Baguette Token is a meme project with the efficy of a baguette.
It’s scandalous that in more than ten years of crypto, no token project related to the baguette has been created; that’s an affront to the baguette and everything that it represents: a refined and delicious staple of French cuisine that has accompanied mankind for centuries.
By creating the Baguette Token, we are thus fulfilling our destiny, seizing our birthright and paying tribute to the glorious baguette.
Q2. What are the advantages of Baguette Token to other alternatives in the Blockchain field?
Ans — To be honest, we are baguettes eaters but also memes lovers.
In my opinion, we don’t have “enemies”; we love all kinds of memes. Even if we will always prefer a tasty baguette haha.
Q3. What are the major milestones Baguette Token achieved so far & what are in the future pipeline?
Ans — We got listed on a few websites (Blockfolio, CoinGecko, CoinMarketCap, Delta, etc.) during the last couple of days. We are currently working on our first use-case. It should be available at the end of the month, developers are working hard!
An updated website should also be released, With a way better UI/UX.
Questions Asked on Twitter For Baguette Token team!
Q1. Is the BGTT token going to be able to pay in bakeries around the world as a cryptocurrency or it will be focused only in France?
Ans — We have some contacts with french bakeries (mainly in Paris) but nothing official yet. That’s not our main goal yet, we are currently focused over the DeFi part of the roadmap right now. But yeah, being able to buy real baguettes with BGTT as a currency is definitely in the pipes!
Q2. Tell us about your plans for 2020, what are you currently working on, and are you going to expand the list of big exchanges?
Ans — We’re currently working on our first usecase, a DeFi one — which should be available at the end of the month. BGTT should also be listed on a new exchange during October.
Q3. The ETH blockchain is very slow, high fees. So why did you build BAGUETTE TOKEN on the ETH blockchain? What is the main reason for building it on Ethereum blockchain rather than building it on BEP- 2/ TRC- 20/ DOT Blockchain? Do you have plans to launch your own mainnet?
Ans — We believe in Ethereum & its potential in the long run, in our opinion, Ethereum is one of the best blockchains in the world right now.
Very resilient, a good community, a lot of (and great) development efforts.
We love decentralization, having a “P2P” meme is really important in our opinion, a meme that you can store & exchange without problems.
We don’t like centralized alternatives, that’s why we didn’t choose the Binance or the Tron blockchain.
Q4. Typically, investors buy tokens that are likely to increase in price in the future. I saw that total supply of BGTT token is huge (66,524,000 BGTT). Does Baguette have any plan for burning token in the future to reduce the supply of BGTT & increase its investment attractiveness?
Ans — Yeah, scarcity is something that we all like haha. We will probably burn a few BGTT in the future but nothing official yet.
Q5. What is the vision behind Baguette Token ($BGTT) and where do you see the project in the next 2 years in the crypto industry?
Ans — We are 100% committed to build the Favorite Cryptocurrency of Baguette Eaters so our goal is pretty simple actually.
We are 100% committed to build the Favorite Cryptocurrency of Baguette Eaters so our goal is pretty simple actually.
Let me share a few interesting things regarding the project.
We fundraised ~150k USD (which is a pretty decent amount) a few weeks ago. So we have plenty of money in order to deliver our roadmap.
We have +2.6k Telegram members & +2.5k Twitter followers.
Questions Asked by our BlockTalks Community Members during live Session for the Baguette Token team!
Q1. Why did you choose the baguette? Other kinds of bread are getting jealous, what does baguette have that cannot be found on ciabatta or sourdough bread for instance?
Ans — We love all kinds of bread. But baguette is probably the most famous (and french!) piece of bread worldwide. Moreover, there’s a lot of jokes related to baguettes surrounding the Internet.
Q2. Any plan for mainnet like $DOGE? If yes, what consensus will your project take it?
Ans — We didn't plan any mainnet yet.
Ethereum has been working pretty well so far, except for the GAS price maybe.
But if the upcoming Ethereum 2.0 (Serenity) is a failure or if BGTT community members want the project to switch for another network, we might consider the question again.
Q3. Where is the Baguette Token road map now? Are all targets in accordance with the current road map? and what are the next steps that will be taken in the future?
Ans — To take as an example, the “first DeFi integration” was planned for Q3 2021 but we decided to move it into Q4 2020, that’s the upcoming & first usecase we’re currently working on. As I said, it should be available at the end of the month. We are working on a new & updated roadmap/website. The renewed website should be available at the end of the month, the new whitepaper/roadmap probably in Q1 2021. Our main goal right now is to deliver our first usecase & to focus over user growth.
Q4. Protecting users/member data and privacy has become a problem that many companies/projects must face in their development.
So can you explain a bit about your project Security?
Ans — Privacy is definetely not a problem when it comes to Baguette Token. Most of our usecases will rely on smart contracts so you won’t have to pass a KYC or anything like this. An ETH Address might be enough, we do not need your IDs haha.
Q5. How does Baguette token get profit? What are the features that distinguish Baguette token from other similar applications?
Ans — In its current form, Baguette Token is a for-profit organization.
But within a few months (with the deployment of our DAO, should take place somewhere during 2021) Baguette Token will become a non-profit organization 100% community-driven.
The community should be able to vote using BGTT.
We have raised enough money for the next few months (until the DAO launch) so we shouldn’t have issues in order to run the “centralized” team.
Regarding the funding of the DAO, a BGTT foundation (composed of community members) will be created and should receive fees from the BGTT usecases (the DeFi protocol, the community shop, etc.) in order to run smoothly.
Q6. If anybody thinks your project really likes a scam project, and they can’t trust this project. How do you make them believe in your project?
Ans — People don’t have to trust it, they have to trust the blockchain itself.
Here’s a quick example:
🚨 World Premiere: Baguette Token is now listed on Uniswap
💰 We’ve put 100 ETH and 1.7M BGTT in the liquidity pool, locked for 3 months.
👉 Tokens are being distributed to all investors as we speak. It’s a pleasure to have you all on board.
💪 We will publish more news very soon, as well as incentives for holders!
— — — —
Total/Max Supply: 66,524,000 BGTT
Private Sale: 6,652,400 BGTT
Public Sale: 1,995,720 BGTT
Uniswap Liquidity: 1,777,777 BGTT (+100 ETH)
Project Development: 1,330,480 BGTT
Marketing Operations: 1,550,009 BGTT
Circ. Supply: 13,306,386 BGTT (~20% of the Total Supply)
— — — —
❗️ Be careful of scammers!
✅The ONLY Baguette Token Smart Contract Address: https://etherscan.io/address/0x7a545Ed3863221A974F327199Ac22F7f12535F11
✅ Uniswap Link: https://uniswap.info/pair/0xEd4Cbcefc2e99E2b53b7AaE3A85ff89e93D7ccCc
🥖 We are starting our journey to become the greatest meme token in history. Join us now or get baguetted! 🥖
“💰 We’ve put 100 ETH and 1.7M BGTT in the liquidity pool, locked for 3 months.” we locked 100 ETH into our Uniswap liquidity pool right after the end of our public sale.
Let me share the UniCrypt (the protocol that we used in order to timelock our liquidity) link.
Everyone can check the info we’re providing by checking the code itself, we’re trying to be as transparent as we can.
Q7. What are the plans to educate and raise awareness and adoption among the community to make more people understand the project easily?
Ans — We have some great marketing plans in the pipes: we will conduct bounties & giveaways, we will also buy CoinMarketCap/CoinGecko ads & pay influencers in order to reach more awareness about our project.
But that’s only a small part of our marketing strat.
Q8. A strong community is needed in building a long term project. What is Baguette strategy for building a strong community and how do you serve your loyal community?
Ans — Baguette Token used to be a 100% community-driven project.
That’s unfortunately not possible right now because our DAO isn’t available yet.
But our final goal is to be a community-based AND community-driven project that will fully rely on code/people instead of a centralized team.
4 people are working full-time on the project, if we add our advisors/partners and regular employees, we can say that almost 20 people are working on the initiative. But as I said before, we also have a lovely & big community.
Q9. Can you list some of the features with which you are most confident about your platform? How can you advertise your project Baguette worldwide and make it popular?
Ans — My favorite feature so far is our DAO project, even if it’s not available yet. It’s going to be one of our greatest achivements imo, the awesome moment where Baguette Token will be fully decentralized.
Q10. How did Baguette Token survive in during long bear market? what your team strategy to gain more adoption? Can you share us on recent achievement your team are most of?
Ans — Our project has been launched 3 weeks ago so we didn’t have “the chance” to meet the bear market yet haha. But BGTT aims to be a sustainable project, more info regarding sustainability should be published into Baguette Announcement channel in the next couple of weeks/months.