AMA — October 17, 2020
Lady Aga, [Oct 17, 2020 at 12:03:02 PM]:
What’s up with the price?
Tomasz Wojewoda, [Oct 17, 2020 at 12:06:12 PM]:
Look, CLEARLY this is an everyones mind! This year, for the next 2 months we pay massive rewards to our LPs. These rewards will be reduced in 2021 but for now as we build our community for the next two months the rewards are crazy high. Some of our LPs are taking profits, and that is their choice. The reality is that they are selling crazy crazy low but again, if you earn 1000% interest, on your AGA, some people chose to sell some. 1 buy backs will help 2. rewards will go down a little in December and a lot in January. Think of AGA like Bitcoin in 2009, rewards are high, but we are going to half rewards in January
Lady Aga, [Oct 17, 2020 at 12:06:58 PM]:
What’s the progress on marketing?
Tomasz Wojewoda, [Oct 17, 2020 at 12:08:39 PM]:
Unlike other projects that release more tokens into the market, dilute supply to pay for marketing we waited for our platform to become profitable. It is now, we are profiting about $10,000 per month and per our governance board will spend 5,000 per month on marketing. This starts next week!!!
Lady Aga, [Oct 17, 2020 at 12:09:08 PM]:
AGAr price went down, why that happened?
Tomasz Wojewoda, [Oct 17, 2020 at 12:12:12 PM]:
value comes from 2x AGA rewards. As AGA circulating supply increases AGAr will go up, but this is 2021–2022 time frame. With such a low supply of 21,000 and very simple value prop — 2x rewards, AGAr needs AGA in Liquidity Pools. As a rule of thumb I divide the amount of AGA in circulation by the amount of AGAr in circulation to determine its value, and the future is VERY VERY bright.
Lady Aga, [Oct 17, 2020 at 12:12:58 PM]:
Where can you buy AGA Token?
Tomasz Wojewoda, [Oct 17, 2020 at 12:15:03 PM]:
Uniswap, and for LARGE purchases you can contact me! We have an OTC sale program that diverts all proceed to new miners, therefore drives AGA value up abnd offer a slight discount with a short lock. I or Lady AGA WILL NEVER CONTACT YOU FIRST about this. Be careful as I am sure scammers will try to scam.
Lady Aga, [Oct 17, 2020 at 12:15:20 PM]:
Why is AGA Token valuable? And how valuable is it?
Tomasz Wojewoda, [Oct 17, 2020 at 12:16:20 PM]:
This is tricky, how valuable is a thing that produces 10,000 USD per month? Only 1.4M in circulation… this is somethign where you have to do your own math…
Lady Aga, [Oct 17, 2020 at 12:16:50 PM]:
What is the circulating supply and what’s the release schedule?
Tomasz Wojewoda, [Oct 17, 2020 at 12:17:02 PM]:
1.4M is circulating now, 400 is in our HOT Wallet, 9M is locked BUT, here is the beauty, we will only release / sell locked tokens in 2021 in exchange for miners. So, every token we sell will bring revenue with it. This again is different, as we release more tokens AGA’s value INCREASES because we get more miners. AGAIN, more AGA in circulating supply means more miners, more buy backs and higher the AGA price. This is opposite of the other tokens out there!!!
Lady Aga, [Oct 17, 2020 at 12:17:12 PM]:
Explain the token buy back program?
Tomasz Wojewoda, [Oct 17, 2020 at 12:19:46 PM]:
OK, there are 1.4M tokens in circulation. Every month we will take a portion of our profit, and use it to buy AGA. Right now we are using / buying $5,000 per month in buy-backs and using 5,000 per month for Marketing. At $1 AGA we will be buying 5,000 AGA per month and spending 5,000 on marketing. NOW… could AGA go to 10 cents, well, not likley. At 10 cents we would be buying ~5% or circulating supply EVERY month, or 10% without marketing spend. So, we would in two year but ALL the AGA — supply and demand — not likely with Bitcoin above $8,000.
Lady Aga, [Oct 17, 2020 at 12:20:01 PM]:
Are there planned upcoming partnerships?…
Tomasz Wojewoda, [Oct 17, 2020 at 12:20:05 PM]:
We are always looking for partnership opportunities, and we will announce them as they are released.
Lady Aga, [Oct 17, 2020 at 12:20:19 PM]:
What miners are you running? What is the profitability and is there any real time profitability data?
Tomasz Wojewoda, [Oct 17, 2020 at 12:20:22 PM]:
Yes, you can see some of the miners mining on our web site agatoken.com, and look at the mined balance in our wallet that is pinned in this forum! In summary, we are making $10,000 per month.
Lady Aga, [Oct 17, 2020 at 12:20:39 PM]:
Benefits of staking AGA and Benefits of being an LP?…
Tomasz Wojewoda, [Oct 17, 2020 at 12:21:28 PM]:
AGA will moon when Bitcoin moons, except at an accelerated rate. So if BTC goes up 2x, AGA will go up 4x or more. So you can HODL BTC, and earn 3–6% interest on Binance or BlockFi OR you can hold AGA and earn MUCH MUCH higher interest. When Bitcoin moons, your AGA position will moon as well. THIS IS SUPER IMPORTANT, by holding AGA you are long BTC AND earning high interest rate.
Lady Aga, [Oct 17, 2020 at 12:21:57 PM]:
Any upcoming announcements/token sales?…
Tomasz Wojewoda, [Oct 17, 2020 at 12:22:34 PM]:
Uniswap is open 24/7, and our OTC program for new miners is open for larger purchases like I discussed above. We also have now approved marketing budget, and I am working on new partnerships now.
Lady Aga, [Oct 17, 2020 at 12:23:07 PM]:
What is our outlook on Etherum 2.0 (possible launch in these coming weeks/months) when they introduce staking, thus making it no longer profitable to mine
Tomasz Wojewoda, [Oct 17, 2020 at 12:23:26 PM]:
We mostly mine Bitcoin, when ETH 2.0 launches our 8 Ethereum miners will switch to ETC, and probably become much much less profitable. But that is why we only have 8.
Lady Aga, [Oct 17, 2020 at 12:23:52 PM]:
How are we handling the short life-span of mining equipment?
Tomasz Wojewoda, [Oct 17, 2020 at 12:24:04 PM]:
We have AGA Tokens available for over the counter sale with exclusive agreement to put the funds generated buy the OTC sale to new miners. In the future we will vote via governance to use mining profits to buy new equipment.
Lady Aga, [Oct 17, 2020 at 12:24:27 PM]:
Are AGA Tokens burned? How often and how many of them. Do you have any model for burning tokens?
Tomasz Wojewoda, [Oct 17, 2020 at 12:25:26 PM]:
We are burining another 26,000 AGA this year. Then we will discuss in Governance. There is a proposal to bur 5 to 7 Million AGA and if it passes we will do it. Though, remember, that more AGA in circulation means we bought more miners. Unlike other tokens, more circulation is not dumping the price, but helping the price.
Lady Aga, [Oct 17, 2020 at 12:25:44 PM]:
How big buy-backs will AGA conduct?
Tomasz Wojewoda, [Oct 17, 2020 at 12:27:30 PM]:
Our budget today is 10,000 USD to be split across buy backs and marketing. AT $25K BTC our budget grows to $30K — SO, BUY BACKS ARE NOW GOING TO BE BIG. (see details here https://docs.google.com/spreadsheets/d/1cf7Xmh6JCY7rlpvWR7Mw3AmkW_9oSiNk51kYMhKGz_Y/edit?usp=sharing)
Lady Aga, [Oct 17, 2020 at 12:27:58 PM]:
What is (will be) AGA carbon Credit Token?
Tomasz Wojewoda, [Oct 17, 2020 at 12:30:45 PM]:
Ha, this is experimental now. IF we ever introduce AGA Carbon Credit it will be a token through which AGA Mining and all the other mining in the world could be carbon neutral. It is at this point just a concept! And if we do it, AGA and AGAr holders will have an exclusive access!
Lady Aga, [Oct 17, 2020 at 12:31:03 PM]:
What rewards do you predict for LP on Uniswap in incoming months? You mentioned they will be on reasonable levels.
Tomasz Wojewoda, [Oct 17, 2020 at 12:36:24 PM]:
I hope that you have been here for long enough to know that when we promise things — we do them. We promised our November rewards to be 6% ans 12% in AGAr pool. THIS IS STUPID HIGH, but we will do it because we promised. December is going to be 4% and January… 1 to 2% to be decided by governance board. We are not a scam, we are a real project, and real projects cant pay 1,000% per month for a long time. Right now AGA and AGAr is in accumulation phase, it is crazy cheap, and super easy to earn. This will end in 2021. We paid close to $300,000 in rewards on the 15th, we will pay again next month, and then the rewards will decrease drastically as the price increases drastically.
Lady Aga, [Oct 17, 2020 at 12:37:04 PM]:
Are you not afraid that AGAr will drop the price when rewards on Uniswap will decrease soon?
Tomasz Wojewoda, [Oct 17, 2020 at 12:41:29 PM]:
Not at all!!! AGAr will always pay 2x Rewards, so do the math… if people stake 1 million AGA, 2 million, 5 million AGA, they will need an equal value in AGAr. 10.8M AGA / 21K AGAr ~ 500x AGAr value to AGA, with AGA at $10 AGAr could be $5,000. TIME WILL TELL, but those are honestly the numbers in my head.
Lady Aga, [Oct 17, 2020 at 12:43:12 PM]:
This is all questions we had for today. I hope the answers were satisfying. Feel free always to reach out if you have any more to get clarification. Thank you everyone. Have a great weekend!