AMA Recap: Gem Chasers & RTAX3
Tags: Cryptocurrency, Presales, Altcoin, Defi, Bitcoin

Below is a full-recap of the AMA, for the gem chasers who couldn’t make it, or for anyone that’s interested. Feel free to have a read!

Telegram: https://t.me/GemChasers

Twitter: https://twitter.com/GemChaserz

Gem Radar ✪:

Ok @gemchasers, today we have another AMA series with RTAX3. Welcome @rTAX3 @DeFi_DiscipleLabs. How are you guys doing today?

DeFi Disciple Labs:

Thank you for having us today. We’re honored to be here to share our vision

0x0000000000dev | $rTAX3 by Defi Disciple Labs:

Feeling amazing @radargem! Hope you and the Gem Chasers community is doing well. Was just playing sonic last night

Gem Radar ✪:

Haha I’m sure @SonicGemChaser will like that ;). Ok so let’s start of with some individual introductions. In the most politeful way, who are you guys? What is your experience with Crypto & DeFi specifically. Is this your first project?

DeFi Disciple Labs:

We are DeFi Disciple Labs. Our team members comprised with cryptograhers and banking veteran from wall street. rTAX3 is our first project to launch. Having said that, we are indeed good old crypto folks. We had started building sidechain on Bitcoin before Ethereum exist.

Today we are introducing rTAX3 token. Shall we talk about it straight the way?

0x0000000000dev | $rTAX3 by Defi Disciple Labs:

Thanks @DeFi_DiscipleLabs. As some may know me from Telegram, I am 0xdev! Well specifically 0x0000000000dev (this is confirmed to my twitter account https://twitter.com/0x0000000000dev). I’m an applied Cryptographer and have been exploring all the intricacies of mathematics within economics since I was a young boy. Used to win those silly awards as a child and be embarassed from my parents to their friends. As an adult, you may have seen some of my open source work on TSS!

DeFi Disciple Labs:

wow @rTAX3 you are getting famous!

Gem Radar ✪:

Ok thanks for the intro’s. It’s always good to see where the founders and devs have come from in the past so Investors can gain a little more trust and know that the dev’s’ know what they are doing. I can see both of you are really qualified.

So let’s talk about RTAX3 specifically. How did the idea of it start? What is RTAX3?

DeFi Disciple Labs:

The reason is very straight forward indeed. I will let our @rTAX3 to explain to you all.

Gem Radar ✪:

Ok great

0x0000000000dev | $rTAX3 by Defi Disciple Labs:

The idea started in @DeFi_DiscipleLabs banking days while making massive profits investing in crypto. The tax authorities would eat up the gains like crazy. We started pondering if there was some way that this unfair treatment can be corrected and then shared with other tax payers. With the explosion of crypto and decentralized networks and protocols, we saw this was very possible which is how the concept of rTAX3 came to life!

We have a very simple mission: to redistribute taxes to all the citizens of the world. rTAX3 charges every token transaction a 3% fee (a.k.a indirect tax) and simultaneously redistributes that fee to all rTAX3 token holders via a rebase mechanism. That means token holders are rewarded directly in their wallets without having to initiate any stake or claim transactions. It’s all handled through our innovative rebase mechanism allowing users to save on transaction fees.

Gem Radar ✪:

Seems pretty straight forward, as mentioned. So at what stage is rTAX3 currently in?

DeFi Disciple Labs:

Our token sale is live now! Please check out our website: https://defidisciplelabs.finance/

0x0000000000dev | $rTAX3 by Defi Disciple Labs:

Contract Address 0x2fbf522c8a514cdee64e5e3fbd37faa1555dff4c | Etherscan

You can also check out our contract code: https://etherscan.io/address/0x2fbf522c8a514cdee64e5e3fbd37faa1555dff4c#code. Contract source code verified!

DeFi Disciple Labs:

rTAX3 token smart contract has been coded with what our vision brings along.

0x0000000000dev | $rTAX3 by Defi Disciple Labs:

Right at uniswap tlaunch, holders will stop becoming tax payers and become the tax collectors

Gem Radar ✪:

You mentioned that this has a rebase mechanisim because of the tax distribution back to the “citizens” or in this case the holders of your coin, what is the rebase pegged to? is it pegged to anything? Is there a negative rebase?

DeFi Disciple Labs:

The whole idea of the project is to incentive rTAX3 token holder by HODLING.

There will never be a negative rebase as token price is not pegged/indexed/reference to

We just redistribute the 3% fee to all rTAX3 token holders in proportion to how much they own. The total amount of rTAX3 token is fixed.

0x0000000000dev | $rTAX3 by Defi Disciple Labs:

There will never be a negative rebase in this tax system. The price fo the token isn’t pegged to some market index, nor some price oracles, which typically cause a negative rebase hurting holders. Every single transaction that goes through our protocol is taxed at a 3% rate and that tax is redistributed directly into the wallets of everyone still in the system.

0x0000000000dev | $rTAX3 by Defi Disciple Labs:

Beautiful one line explanation 😍

Gem Radar ✪:

Ok wow, that seems interesting. Wouldn’t this create selling pressure though? What are the incentives to keep holding? Will there be tax’s made on people selling early?

DeFi Disciple Labs:

rTAX3 token holders doesn’t need to do any transaction and freely enjoy the 3% fee reward right at the beginning. The earlier the people holds the rTAX3 token, the more rTAX3 token they will be rewarded. We will do more campaign in the future to attract more people holding the token in the long term.

Gem Radar ✪:

Has the contract been externally audited yet? If not do you have any plans too?

DeFi Disciple Labs:

We are partnering Solidity Finance for auditing the smart contract. Result will be released within 24 hours. stay tuned.

0x0000000000dev | $rTAX3 by Defi Disciple Labs:

There are definitely many more campaigns to be done in the future. Imagine being about to leverage and go long using taxes 😍. Possibilities are endless really and we would love to hear from the community what is most important for their assets: staking? liquidity mining? LP token staking? LPs with other pairs in the ecosystem to drive interoperability, multichain usage, and growth? or simply do holders just want to sit and collect their taxes?

DeFi Disciple Labs:

Our ultimate goal for this initiative is to make rTAX3 become the ultimate token of Store of Value.

Gem Radar ✪:

Ok great, let’s talk about the tokenomics of RTAX3.

0x0000000000dev | $rTAX3 by Defi Disciple Labs:

The external audit is close to being completed and it looks promising thanks to @DeFi_DiscipleLabs really driving this one. We have also done an internal audit using tools like SmartCheck, Mythril, Slither, and Manticore. You can be assured that the internal team along with external auditor is taking every precaution necessary as this will be A STORE OF VALUE

Gem Radar ✪:

Ok thanks for further elaborating about the audit 🙂 It is clearly understood that you have done a thorough internal audit thus far and are waiting on the results for Solidity Finance. Would we able to get an insight on the Tokenomics ?

DeFi Disciple Labs:

Tokenomics of rTAX3: 60% for Presale, 20% for Liquidity in Uniswap, 15% for Ecosystem and 5% for Team.

Gem Radar ✪:

What is the total supply going to be? As well as what are the prices for presale? Is there a minimum and maximum? What will be some of the main benefits of entering the presale rather than waiting for launch?

DeFi Disciple Labs:

Total rTAX3 token supply = 100,000 rTAX3. Pre-Sale Price: 1 rTAX3 = 0.02 ETH. Initial Price in Uniswap Liquidity: 1 rTAX3 = 0.022 ETH

. The earlier you get into the game, the more reward you could accumulate as we expect the crowd/token holders will grow exponentially.

Gem Radar ✪:

What are some of the assurances you are providing the community that you won’t rug? As you know there have been some creative rugs and ruggers are getting more innovative. So I have to ask this question..

0x0000000000dev | $rTAX3 by Defi Disciple Labs:

The way the mechanism works, you can think of this like auto-compounding.

DeFi Disciple Labs:

We are here to stay. We are DeFi Disciple Labs. We aim to launch more interesting project in the future. Hence, we sure need to keep our reputation high. As you may know, we partner with Dextools and being featured as their sponsors.

https://twitter.com/0x0000000000dev/status/1340243737180573698?s=19

0x0000000000dev | $rTAX3 by Defi Disciple Labs:

There is also the 440 ETH liquidity lock. We will lock the LP tokens in team.finance or something similar and show this proof to the community as soon as it’s done

Gem Radar ✪:

Yes this is some great news. It is defintely encouraging to see that you are doing all you can to prove to the community that you will be here to stay. And I like the fact that your rebasing mechanisim has no negative rebases 🙂

So when does your presale exactly end?

DeFi Disciple Labs:

On the other hand, we are also spending lots of effort in researching decentralized cross chain solution. We can share more next time when we launch another new initiative. We want to provide the best and secure solution for crypto community for crypto trading and storage.

We are aiming to get the presale finish on 21 Dec 2020. But we presume that we will finish presale prior the end date. We are doing a lot of marketing event at the moment. Day and night

Gem Radar ✪:

Ok perfect, so let’s move onto the community questions now. We have preselected 3 questions for you to answer.

Let me know when you are ready!

DeFi Disciple Labs:

READY!

Gem Radar ✪:

@Sanggapatih asks, What are the mechanisms for increasing the value that $rTAX3 planning to use? Perhaps a buyback or token burn system?

DeFi Disciple Labs:

total rTAX3 token supply is fixed. There is no burn function built in the token contract. For driving the value of rTAX3, our team won’t have direct control in it. Having said that, we believe the network effect is the main driver to make our project success. Our team will spare no effort in making rTAX3 token more recognize in the market.

0x0000000000dev | $rTAX3 by Defi Disciple Labs:

Buyback and burns are the brute force way to increase value by reducing the circulating supply. Would love feedback from the community here how to best execute those if it makes sense within our tokenomics! From a token utility perspective, we mentioned staking, liquidity pools with partner projects to expand the ecosystem, leverage LP tokens, etc. @DeFi_DiscipleLabs always pushes us to envision rTAX3 as a STORE of VALUE. so we need all the building blocks to increase the value first

Gem Radar ✪:

@ALAMSP asks, I see your pre-sale will end soon, There will be a lot of holders who did sell and run after listing, how you maintain and keep the price keep stable

0x0000000000dev | $rTAX3 by Defi Disciple Labs:

440 ETH locked in liquidity at a price floor that is 10% above presale price. This along with partnerships, AMAs, listings, and actual token utility, will keep it stable. As the taxes flow through the system, it makes it less and less attractive for holders to exit the system. So theoretically with network effects you will see the price steadily increase

Gem Radar ✪:

Ok great! We are running out of time so we will only do two questions for today. Thank you both for explaining to us about your interesting project. I hope the pre-sale goes well and wish you the best of luck. Seems like an interesting project. Thanks again for spending some time here at @gemchasers

Side note: there presale is live now! Head over to there community or website for more details 🔥

0x0000000000dev | $rTAX3 by Defi Disciple Labs:

Thanks so much @radargem and the entire Gem Chaser community! We would love you to come check out our code and speak to us @DeFi_DiscipleLabs and also participate in the presale https://defidisciplelabs.finance/