Community Call – 6th April 2022

Watch the recording of the call 👆

As discussed in the last community call, CBX will be listed on various exchanges. As you know we have already listed CBX on Probit Global and exchanges. CBX will be listed on LBank exchange. It is a prominent crypto exchange based in Dubai.

About LBank:

Founded in 2015
Services offered: Crypto Trading, Specialised Financial Derivatives, and professional Asset Management Services.
6.4 million users from now in more than 210 regions around the world.
Main Audience: Turkey, Dubai, Africa, India etc
There are over 500 Tokens listed in LBank Exchange.

About the Whitepaper: Although this is a new version of the Whitepaer with added info, we are yet to add more details. We will keep updating the whitepaper. 

AMA section:

Q1: Are you going to maintain TRX markets after all assets move to CBX?

Answer: There will be TRX / USDT market for sometime. All TRX / Assets markets will eventually be migrated to CBX. We are also planning to bring in USDT markets. 

Q2: When will Asset Tokenisation, Asset mining, and lending be implemented? After Asset tokenisation, will CB assets be listed outside of CropBytes?

Answer: Tokenization was planned for Q1, but due to scalability issue, we are pushing the launch. Focusing mainly on bug fixes and scaling so that the platform is bug-free for the new feature releases. We are working towards tokenisation of assets so that CropBytes assets can be moved in and out of the system.

Q3: Can you give some specific security measures #CropBytes is taking to prevent hacks like #AxieInfinity? Are bridges to other cryptos still planned? Will you add security to bridges? 

Answer: Development related to network bridges is completed as discussed earlier. We are currently working on bug-fixes to take the feature live. As you know there was an attempted hack on CB a few days back. But due to our system security measures, we were able to keep all the funds secure. Our focus is to move slow and steadily instead of in a haste.

Q4: When do we get a use case for the islands and gold coins, wild goats & sparky?

Answer: W.r.t to these assets in question, we have been mining assets like gold coins without any input. The plan is to include these assets as part of the service economy so that the supply has some value. We are planning to bring these assets back with proper use cases. 

Q5: After implement worker system, are those workers comes from random? Can the farm owner set their farm as private, if they don’t want to hire any workers?

Answer: Owner will be able to post work and anyone interested can pick the work. There will be a work posting dashboard and a work accepting dashboard. There will also be rating fir the worker. While posting the work, you will have the option to filter workers based on high ratings also. Unless you post a work, no one will be able to do the work on your farm. 

Q6: Launching projects in a bull run is much profitable than during the bear cycle. In a bear run where most of the projects fail and sometimes gone into oblivion, how will ” CropBytes ” stand the test of times? What strategies do the project employ to mitigate possible losses?

Answer: Bear market is not new to us. We have survived the 2019 bear and back then we were in defensive mode but not anymore. Our plan with all the innovative new features is to be independent of the bull and bear. For example we have a boost in growth during the last short-bear in May and June last year. Our goal is to grow despite Bull and Bear or the price of Bitcoin. 

Q7: I read CropBytes will develop a $CBX Mining model using extract conversion. Why have they decided to develop such a model? As for the extracts, how many are needed to be able to mine $CBX? In addition to this mining model, will there be other ways to obtain $CBX passively?

Answer: Mining model is based on the economy layer concept. To add more utility to CBX. Other ways to earn CBX passively will be through the tokens allocated for marketing through community events. 

Q8: On the update whitepaper under Player Role of types of traders #4.Farm Workers: work on farms to earns wages paid by farm owners. Can you explain more?Do you have future plan likes others play to earn games to have their schoolars like you will hire a farmers to do jobs in farm?

Yes, it is just like the Scholar concept. Worker salary will be dependent on mutual understanding between owner and worker. Owner will be able to post a work for a certain price and workers can choose to accept the work for the price. Based on the performance of the worker, owner will be able to rate the worker.

Q9: In asset mining, what is this “Work Unit” mean. Can you give a simple explanation about this term.

Answer: There will be two types of mini games related to asset mining. One type will be to mine animals and another one will be for land assets. It will be a strategy game which will be calculated as unit work. Either you can do the work or hire someone to do it. 

Q10: CBX Burn 🔥🔥. What is happening with the CBX used to mint assets? Is it really burned or it is just separated?

Answer: CBX used to mint assets will be burned. All unclaimed CBX from the CBX unlock program will also be burned. We will be burning all of these CBX every quarter.

Q11: CBX is endless and can be burned. So there will be no CBX some day. How would CropBytes have an endless economy 🙂? What is the plan after all CBX got farmed?

Answer: These are the kind of details that is not there in the Whitepaper currently, also for example the exact formula of asset mining is yet to be updated in the whitepaper. All of this will be updated shortly. There is no endless burn. The max supply of CBX is 500 Million but after a certain threshold, we will stop CBX burn. After that 2x of extracts alone will be used to mine assets. 

Update on recent bugs: 

We have two plans, one is to scale the architecture to permanently fix some bugs. As discussed earlier, we have released a temporary new architecture to patch the bugs. But unfortunately the system did not perform as expected, as you could notice, there were some more issue that came up in the last couple of days. 

The developers are working hard to release another bug fix which will go live within 3-4 days from now. There are also two new and effective temporary solutions that the team is working on: 

  1. An auto script function which will check for stuck produce, feeding etc at the gap of every 15 mins to automatically fix the problem so that farmers will not need to raise a support query. 
  2. Similarly if someone mistakenly exceeds the withdrawal limit, even that will be fixed through an auto script at an interval of 24 hours. 

Once we complete the architecture upgrade, even these auto features will not be required as there will be no bugs. 

Congratulations to the winners of the top 10 AMA questions award. Winners will be contacted by CB team via Twitter DMs for the airdrops.