AMA RECAP : bRing CEO x Morgan Torbians

|Morgan Torbians: Oleksandr welcome and thank you for agreeing to make this AMA in our chat!

Me and the guys in our chat have invested in bRign and there are some questions that I would love to ask you about the project.

Every successful project has an interesting history prior to its creation. Can you tell people the story of your project? What motivated you to create and develop a project as ambitious as yours?

-Oleksandr: My name is Oleksandr, I am 33 years old. I have been in the IT industry for over 8 years and in blockchain for about 4 years. I am the founder of the ElephantsLab IT studio, which includes over 20 blockchain developers.

We have successfully completed about 40 projects to date! We are actively growing and expanding and see our future and the whole world in the developments of blockchain technologies. Today I’d like to talk to you and your audience about our main project bRing.finance.

|Morgan Torbians: What is so unique about bRing and which products the platform currently offers?

-Oleksandr: Our platform is unique in a sense that we offer rewards in multiple tokens from various projects as opposed to one token.

We carefully select our partners and establish great relations with them. We have a concrete vision for the development of our project for the coming years, and without reliable partners it will be hard to make it.

There are also projects out there that are our competitors and have a similar model to ours, but this is just a matter of time. We are still in early stages of development and will diversify our platform.

|Morgan Torbians: Please let us know how the roadmap is currently developing. What will happen this year and what are your plans for the future?

-Oleksandr: Three months ago we launched our first successful ring (pool) on Ethereum and that was basically our product launch as well. Also a few weeks back we launched our Binance Smart Chain version, in particular LP token staking! In the coming months we will be launching our own bridge for users to be able to exchange BRNG between ETH and BSC. Polygon launch is also something that is coming up.

And of course we will be announcing more details about our releases on our socials.

|Morgan Torbians: Me and the team are following your project for the long run and would like to know where we can find all the latest news about your project? Is it best to follow you on Twitter / Telegram / Discord?

-Oleksandr: Yes, here is a list of our social networks, where we publish all updates and stages of project implementation:

Website: https://bring.finance/

Telegram: https://t.me/bRing_community

Twitter: https://twitter.com/BringFinance

Medium: http://bringfinance.medium.com

And of course YouTube where we post different guides and overviews:

Youtube: https://www.youtube.com/channel/UCyG5ZG13kiXvvSeRxdIG_jg

|Morgan: Nowadays “Staking” is the hot topic. Could you elaborate more on token staking and the benefits of adding staking?

-Oleksandr: You rightly pointed out that staking is a very popular topic now. To put it as simply as possible, our platform allows users to hold tokens of only one of the projects that are participating in the pool and make a profit in all tokens.

Meaning you make a stake in the token that you like the most. You will get that token and as well as 4–5 other promising coins that are already actively traded and have value and of course strong teams behind them.

This is a very good investment that will pay off pretty quickly. As regards to the % of return on the pool, we announce them on the day of the launch of each new Ring.

|Morgan Torbians: Many investors are wary of projects from Ukraine. How would you respond to these concerns?

-Oleksandr: That’s a good question :) Yes, we are from Ukraine, but we have a lot of specialists from all over the world in our team. Vitalik Buterin, Anton Bukov and many other Russian-speaking guys made breakthroughs in the crypto world. Everyone should be proud of this and not only us. I am sure that our product will show good results, as it is an excellent idea that is in demand in the current market. Recognition of projects and exchange of audiences through the platform is the key to a strong community and recognition of projects!

|Morgan Torbians: Could you please explain your tokenomics and it’s distribution ? How many tokens will be issued? How many tokens will be locked for the team? How many tokens have already been sold?

-Oleksandr: A total of 100,000,000 BRNG will be issued. For the team, 10% of them are locked with a monthly unlock rate of 2%.

|Morgan Torbians: Where did the project get the funds for its development and marketing efforts?

-Oleksandr: Our team carried out 3 rounds of fundraising. They were both seed and private rounds, in which fund entities such as GMC, Kyros Ventures and others participated. We held 2 IDOs, one at A2DAO and YellowRoad. I’ll share a little inside with you, at the moment only around 5% of the funds received for development and promotion have been spent!

|Morgan Torbians: How are rewards calculated and how much profit can a staker get?

-Oleksandr: The rewards are calculated as follows: a fixed number of tokens per hour are charged to the entire pool and they are distributed in proportion to the size of the stake of each participant.

The larger your stake in relation to the pool size, the more profit you will get. Because the pools work for 90 days, it makes sense to start staking right after they are opened.

|Morgan Torbians: Why stake BRNG when I can stake tokens from other projects? What is my benefit?

-Oleksandr: You can choose which pool you like best. At the moment, all pools have the relatively same profitability. But this will change in the future. bRing.finance is primarily a platform that allows you to implement “group” staking.

|Morgan Torbians: How do you select projects for new Rings? Can the community participate in this?

-Oleksandr: We live an active crypto life, participate in conferences and know many project creators personally.

The main selection criterion is a real live project with a strong team, we take only promising projects into the rings.

The site has a form through which everyone can submit their project for consideration. We also plan on giving the community the ability to choose the projects through a voting system using bRing tokens.

|Morgan Torbians: Will new pools be launched in addition to the current ones? What happens after the current pool ends?

-Oleksandr: Yes, the current pool is working on BSC and in September we are planning to launch new pools on ETH, as well as BSC and Polygon!

|Morgan Torbians: How does bRing Finance differ from many projects that are offering very high interest rates? And why would investors prefer it to other profitability opportunities?

-Oleksandr: Once the pool has completed, just like at any other moment during the pool’s activity (we do not have a freeze mechanism), all its participants are able to withdraw their stakes along with the rewards and participate in other pools.

Our main thing is that the high profitability of the pools is provided by the participants in advance. All tokens that the smart contract distributes as a reward are contributed in advance by the partners participating in the pools.

|Morgan Torbians: Bring Finance is a complex project. Are you planning to create study materials so that more people understand your goals and vision?

-Oleksandr: In reality there is nothing complicated in our project. bRing is not more complicated than other farming projects. We understand that every day new users appear on the crypto market and exactly for those users we constantly publish educational articles on medium, as well as make video tutorials.

https://bringfinance.medium.com/list/guides-5360b1788bb9
https://www.youtube.com/channel/UCyG5ZG13kiXvvSeRxdIG_jg

|Morgan Torbians: Why should projects participate in pools on Bring and not create their own pools on their platforms?

-Oleksandr: Joining a pool on bRing is a new partnership. One that allows a participating project to gain community exposure as well as an opportunity to convey the idea of their product to a new audience. Of course each of the projects can create their own pool on their own, but they will never be able to gain what bRing.finance provides and vice versa.

|Morgan Torbians: Are there many projects interested in participating in your pools and how often will new pools be launched?

-Oleksandr: Almost every day we have announcements and agreements with new partners. Partners who are ready to participate in the pools. We already have an approximate schedule of pool launches for September. In September, we will support 3 blockchains already, and therefore there will be a lot of launches!

|Morgan Torbians: Nearly 80% of investors simply focused on the short-term price of the token rather than understanding the real value of the project. Can you tell us about the motivation and benefits for investors to keep your token in the long run?

-Oleksandr: We strive to diversify the pools and the partners participating in them. We also offer pools in different blockchain networks. Thus, we minimize the potential damage from market fluctuations. That is the main strength of staking with BRNG and holding it.

|Morgan Torbians: Thank you Oleksandr for joining us and answering all the questions! We will be in touch and good luck with your great project!

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bRing is a decentralized cross-chain platform, enabling farming of multiple tokens via staking of a single coin.

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BRING.FINANCE

BRING.FINANCE

bRing is a decentralized cross-chain platform, enabling farming of multiple tokens via staking of a single coin.

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