Transcript: Timeleap AMA with Jetfuel Finance August 23rd at 2 PM UTC
On Monday, August 23rd at 2 PM UTC, The Jetfuel Telegram had the pleasure of hosting an AMA with Timeleap.Finance, the first project to join the $1 Million Jetswap Incentive Program. Flight Commander Miro had an open Q&A with the Timeleap founders, Cookiedeck_v2 & JK Moriarty.
Flight Commander Miro: Okay Jetfuelers and Jetswapers! Welcome to the highly anticipated AMA with Timeleap!
🚨The room is muted for the next 60 minutes. Please don’t panic!
Flight Commander Miro: @cookiedeck_v2 @jkmoriarty You guys ready? 😁
JK Moriarty: Yup!
Cookiedeck_v2: We’re good to go!
Flight Commander Miro: The AMA will run for 40–80 minutes with 3 phases.
Phase 1 is the intro and preselected questions.
Phase 2 is the community round with giveaways. There are $200 in prizes for the best community questions. There will be 5 winners and each will receive $20 in TIME and $20 in pWINGS!
Phase 3 is after the ama where the Timeleap team is encouraged to hang out for a few minutes and answer any leftover questions.
Let’s get started!
Flight Commander Miro: 1. Timeleap is a relatively new project on Polygon, can you please introduce your team and what the $TIME token does? 💯
Cookiedeck_v2: yup happy to do so! JK and I form the core team members of Timeleap. While we do work with others, we’re the main two people who started this project 😄
For myself, I’ve been involved in running my own business for the past 7 years, building it from scratch.
This includes everything across team management, product development, sales / marketing, client / investor management, and business operations.
JK Moriarty: As for me, I’m first a Physicist, then a self-taught programmer. I left academia 11 years ago to pursue impact through business
I’ve also been a crypto trader who built algorithmic trading bots that interface with Binance Futures!
Pretty much learnt everything the hard way and ran a couple of startups before cookiedeck and I decided to join forces.
Cookiedeck_v2: Honestly, time flies in this space!
It has already been a month since our fair launch for the TIME token, and farming launched 3 weeks back
So we basically started off with the typical yield farming features:
✅ Stake TIME-LP tokens to earn TIME
✅ Stake other tokens to earn TIME
Literally, RIGHT BEFORE this AMA, we launched a game-changer — our Buyback-and-Make tokenomics, or as we like to call it, the Automated TIME machine (ATM)! 😂
So the TIME token is essentially the governance token of Timeleap Finance
It’s also meant to be a high-yielding asset that will support collateralization through integration with our credit and lending protocol in the future!
Done!
Flight Commander Miro: Wow, very interesting! It sounds like your core team definitely has a pretty diverse background that’s well suited to the crypto life.
Cookiedeck_v2: The core team has definitely had a roller coaster of a life journey lol
JK Moriarty: science kinda follows you everywhere hahaha
Flight Commander Miro: 2. You have developed an exciting feature called the Infinite Yield Farm Sustained by the Continuous Buyback and Make Yield Optimization System or the Automated Time-Machine (ATM), how does it work and what are the starting yield optimizers you’ll be deploying?
Cookiedeck_v2: So we wrote a Medium article introducing the concept of buyback-and-make.
https://timeleapfinance.medium.com/an-introduction-to-our-buyback-and-make-tokenomics-a253581327dd
It’s a bit like a thesis lol, but for those of you who wanna geek out, you can have a good read!
In a nutshell, our Automated TIME machine is meant to resupply $TIME balance in the MasterChef contract, creating a sustainable and circular ecosystem!
Think:
✅ Endless buying pressure
✅ No need for multiple farm layers
✅ No need for burns
So yes, that diagram is a summary of what our Buyback-and-make or Automated TIME machine is about!
JK Moriarty: LOL, for those who didn’t wanna read an 11-minute medium article, this image helps to sum things up
Anyway, the beauty of “Make” lies in the fact that our Buyback-and-Make tokenomics is not destructive to the market cap the way burning can so easily be.
It’s a permanent incentive model that creates continuous issuance of TIME while still keeping to its promised maximum supply of 86,400.
To elaborate further,
✅ L1 farming never ends, there will always be LP rewards to be earned by liquidity providers
✅ TIME will always be liquid, holders can always swap TIME with minimal slippage due to available liquidity
✅ Price of TIME will keep increasing due to buying pressure and lockups in the treasury
✅ Holders are motivated to continue holding TIME, which then assures competitive APRs for liquidity providers
✅ Increasing price of TIME + Steady APRs for liquidity = encourages more users to buy and hold TIME
✅ TIME that’s bought back is sent to a Treasury contract that will behave like a burn address, only to be utilized as collateral for future utility = reduce circulating supply = increase in price floor
Gonna just let that sink in for a bit
The key idea here is that all of the above happens with the certainty of a max supply cap for TIME.
As a yield farmer, this is a game-changer because we no longer have to worry about the typical issues that plague yield farms such as hyperinflation and 0 liquidity (unable to exit).
tbh, I’ve been from farm to farm, it’s just us getting rekt over and over again in order to learn from those experiences to build something totally new =)
Done =)
Flight Commander Miro:
Cookiedeck_v2:
Flight Commander Miro:So if I TLDR this, your ATM will just keep buying TIME and resupplying the Time Farm. FOREVER?
JK Moriarty: YES
Depending on the market situation, the ATM buys more during a dip and less during a pump. In a sense, it’s DCA in action
Flight Commander Miro: That’s great, we can’t wait to monitor the success of the ATM program. On to the next question!
3. Congrats on becoming the first $1 Million Dollar Jetswap Incentive Member! How do you think the program will assist the growth and development of Timeleap?
Cookiedeck_v2: It’s been an honor for Timeleap to be selected as the first member!
The JetSwap marketing team has been actively promoting our partnership, which definitely helps us gain exposure
Plus, they’re just generally fun to interact with on Twitter. Not many projects are so keen to play ball lol
JetSwap has also kindly done a 2x multiplier for TIME-ETH on https://polygon.jetswap.finance/farms
It’s limited time only for one week, and gotta say, that APR is looking insane. Thanks, JetSwap! 🚀🚀
🔥🔥
JK Moriarty: I’m looking forward to more collaborative marketing activities like trading competitions. That’s gonna be fun and we should totally schedule one soon!
On top of that, I’m really grateful that you guys are a fun bunch to work with! The fact that we’re having late-night conversations in our TG already says it all.
@jetfuelmiro would you still like to have your name tag as “No TIME to waste”?
I’m done lol, but happy to give you a tag in our TG, gonna have so many pun TIMEs together
Flight Commander Miro: Ah haha yes that’s great. I’d be honored to have that tag.
Cookiedeck_v2: lol!. This all started because of @JetfuelChris
Flight Commander Miro: Timeleap is also going to receive a $10,000 incentive in 30 days for joining the program.
Cookiedeck_v2:
Flight Commander Miro: OK next question!
4. Security is a major concern for investors. Rug pulls and exploits happen every day, what actions have the Timeleap team taken to ensure your investor's safety?
JK Moriarty: We’re serious about making sure funds are SAFU!
In terms of audits, we’ve done a Paladin audit (RugDoc recommended auditor) for our Masterchef. We’ve also published our response to that audit on Medium: https://timeleapfinance.medium.com/paladin-audit-whats-up-and-how-are-risks-being-mitigated-73fc35061c53
On top of this, we tried to resolve as many issues as possible by implementing an additional fix to renounce our MasterChef ownership to a SafeOwner contract. Talk about safe!
We then did a second Paladin audit for our Automated TIME machine which you can see here: https://paladinsec.co/projects/timeleap-vaults/.
Cookiedeck_v2: To add on, Timeleap came into being because we got tired of constantly researching for safe and sustainable yield farms — I mean, just look at the number of rugs?!
In June 2021, there were 2 things that happened that really inspired us to start our own:
1. The collapse of the TITAN token and Iron Finance, or what was described by their dev team as “the world’s first large-scale crypto bank run”
2. PolyGold’s “emotional” soft rug
Together, the both of us lost about a quarter mil. It was devastating. As yield farmers, we thought it was TIME to build our own because well, we ain’t gonna rug ourselves lol
done!
Flight Commander Miro: Defi is the wild west, it’s great to see a team that cares about security. I believe that those who build with the investor’s interest in mind get the TVL! Keep on keeping on guys.
Cookiedeck_v2:
Flight Commander Miro: And the last question before we open it up to the community!
5. What does the Timeleap team hope to accomplish in the next 6 months?
JK Moriarty: We want to create an ecosystem of financial products that are equitable, sustainable and utilitarian. TIME is the first product in this ecosystem and will be the keystone to other products that we will launch in future.
As we all know, a day in the real world probably feels like a week in crypto, so our “near-term” final goals for this project would be:
✅ Completing the build of a sustainable yield farm that never ever needs to be replaced by a layer 2
✅ Prove that sustainability can help prevent hyperinflation of native tokens
✅ Be the community-owned private DeFi bank that you’ll always want to come back to
As for the future utility of TIME, this is what we have in mind:
1. Leveraged Yield Farming with TIME as collateral
2. Algorithmic over-collateralization of TIME in exchange for stablecoins
3. Privileged access to Governance and other tokens within the Timeleap ecosystem
And of course, more partnerships, more DEX listings, and more AMAs!
done =)
Flight Commander Miro: Very ambitious! Sounds like a solid road map 🤟
Bonus Question: Drop your socials!!!
Cookiedeck_v2: You can find us here!
💪 Telegram: https://t.me/timeleapfinance
🌐 Website: https://timeleap.finance/
🐦 Twitter: https://twitter.com/TimeleapFinance
📰 Medium: https://timeleapfinance.medium.com/
📕 Docs (Tokenomics, security etc): https://docs.timeleap.finance/
Telegram is where you get first dibs on everything. We’re very transparent and always communicating with our community — so look forward to chatting with ya on @timeleapfinance!
Done!
Flight Commander Miro: Check it out, everyone! Be sure to follow their twitter and tgs for the latest Time Leap updates.
So this concludes phase 1 of the AMA.
Next we will open it up to the community round.
There is a $200 prize pool for the best questions!
Please select the best 5 questions from the community. The best 5 questions picked will win $20 in TIME and $20 in pWINGS each, so $40 per winner!
The prize pool is sponsored by the Timeleap and Jetswap devs!
Community Question 1: NFT is really trending topic, now in the market. So how do Your project plan to onboard the development of NFTs and how do Your project plan, to combine it with DeFi?
JK Moriarty: Hey, thanks for asking about NFTs. I think that it’s still at its infancy at this point in time. There’s currently a lack of proof of utility for NFTs.
While it’s trending, it’s really hard to assert a value to an NFT, much less collateralize it.
I doubt we will be moving in that direction anytime soon, at least until NFTs prove to be useful and liquid at the same time.
Community Question 2: Can you explain how is your Tokenomics Distribution? How many tokens Will be minted ? And How many tokens Will be locked by the team?
JK Moriarty:
1. There are no team tokens minted
2. We’re a fair launch project
3. 10% emissions of native tokens are sent to devAddress, which we are still holding and not selling because we intend to make TIME really valuable, just like how it is in the real world =)
4. 86,400 max supply, emission rate 0.05 TIME / block
Community Question 3: Can you list 1–3 killer features of Your Project that makes it ahead of its competitors? What is the competitive advantage your project has that you feel most confident about?
Cookiedeck_v2:
1. We’re not just any typical yield farm. Our unique buyback & make tokenomics is meant to remove multiple layers of farming and prevent hyperinflation. Read more about our buyback-and-make model here: https://timeleapfinance.medium.com/an-introduction-to-our-buyback-and-make-tokenomics-a253581327dd
2. We’re probably the most sustainable yield farm without burning tokens!
3. Our communication and transparency with the community, which is very rare in this space
4. Funds are SAFU. I mean, just look at the efforts that we’ve taken thus far. How many people will write such an article to respond to an audit 😂 https://timeleapfinance.medium.com/paladin-audit-whats-up-and-how-are-risks-being-mitigated-73fc35061c53
Community Question 4: Where can I buy your tokens now, what are your current contracts and how can I buy them and what are the benefits?
Cookiedeck_v2: You can buy the TIME token on JetSwap:
Our contracts are available here:
https://docs.timeleap.finance/dyor/contracts
Benefits of holding TIME: The TIME token is essentially the governance token of Timeleap Finance. It’s also meant to be a high yielding asset that will support collateralization through integration with our credit and lending protocol.
Holding TIME would also mean benefiting from future utility:
1. Leveraged Yield Farming with TIME as collateral
2. Algorithmic over-collateralization of TIME in exchange for stablecoins
3. Privileged access to Governance and other tokens within the Timeleap ecosystem
Flight Commander Miro: 1 more!
Community Question 5: So many projects just like to speak about the “long term vision and mission” but what are your short terms objectives? What are you focusing right now?
Cookiedeck_v2: Our short term goals are:
✅ Completing the build of a sustainable yield farm that never ever needs to be replaced by a layer 2
✅ Prove that sustainability can help prevent hyperinflation of native tokens
We’ve just launched our automated TIME machine right before this AMA, which is meant to do exactly that!
done!
Flight Commander Miro:
Alright! Thanks guys!
For the winners we’ll send out the prizes within 48–72 hours.
This concludes the AMA with Timeleap. The room is open again. 😁
Timeleap.Finance Project Information
💪 Telegram: https://t.me/timeleapfinance
🌐 Website: https://timeleap.finance/
🐦 Twitter: https://twitter.com/TimeleapFinance
📰 Medium: https://timeleapfinance.medium.com/
📕 Docs (Tokenomics, security etc): https://docs.timeleap.finance/
