AMA Recap GreatDrop with LAUNCHPOOL
Hello GreatDrop community,
We recently hosted our 24th AMA with LAUNCHPOOL on 18th February 2021, at 12:00 PM UTC (19:00 WIB). With our guest from the LAUNCHPOOL team:
- Richard Simpson, LAUNCHPOOL CEO
LAUNCHPOOL connects varied stakeholders in the crypto industry, including funds, communities, marketers, and experts, incentivizing all.
Many of you might have participated or many of not, So here we are up with the AMA transcript for those who missed the AMA session.
Introduction Questions Asked By GreatDrop Team
Would you like to share with everyone a quick introduction about yourself as well as a quick overview about Launchpool?
I am Richard Simpson, the CEO of Launchpool. Before joining Launchpool, I worked as the Director of Research and Projects at Alphabit Digital Asset Fund.
I got involved as most people did I think, a friend recommended I look into it. I bought my first crypto and down the rabbit hole I went luckily I’ve been working full time in the space for 3.5 years.
Launchpool was born out of the idea that the different elements of the ecosystem weren’t really all pulling in the same direction, for example, projects live and die by their community yet the community is often the last to get to buy the tokens and generally don’t get as good deals so we wanted to do something about that. We wanted to create an environment that minimized risk for everyone. Risk of dodgy projects for small investors, but also for funds. We think our model minimizes risk for them too. We aim to incentivize our community to stay with projects and use the service of the projects we launch so hopefully it's a win-win for everyone. Projects also get the benefit of a bootstrapped community and well-connected investors/funds.
Q1. What is Launchpool? And how is the story behind the Launchpool creation?
Launchpool is simply a crypto crowdfunding platform like some others out there, Polkastarter, Poolz, etc.
However we focus on egalitarianism — that is, everyone is treated equally. As I said LP was born out of a desire to put some things in the sector right.
We feel that the small investors bring more value than they have previously been given credit for. so we want to level the playing field for everyone.
Everyone gets included on the same terms at the same rates/prices/vesting etc.
Q2. What is so exciting about Launchpool, which might make Launchpool different from all other Staking Project out there?
We have a number of key differentiators. Mainly focused on our quest to be fair to all participants. So-
- Our focus is equality, so our community invests at the same price that the large investment funds do.
- we have 10 industry-known funds behind us providing deal flow. They also vet the projects and invest alongside launchpool. So you know the projects on our platform have passed the tests put on them by these professional investors.
- We won’t operate first come first served or on a preferred tier basis. You stake your LPOOL to show interest in a project on our platform. Everyone that stakes get a proportionate part of the allocation. Stake more LPOOL to get more allocation, everyone gets the same price and same vesting terms.
- We are giving away free over 25% of our tokens to bootstrap our community. That can be you! Simply participate in our token distribution event starting on the 22nd.
We really want to focus on building the best community out there. The community will be our most important asset. And they will share equally with everyone else, as they should do.
Q3. Please tell us more about $LPOOL token! What utilities does the token have, and what benefits will tokens holders get?
- Access to projects at the earliest rounds, enabling investors to access best prices without the associated minimum threshold reserved for investment funds.
- Investment through a regulatory compliant means.
- Peace of mind investments is made into bona fide projects that have been vetted on a number of levels.
- Chance to become a meaningful part of new project communities.
We also wish to create a circular economy with the token. So with profits, the platform makes we will buy the token back from the market and then give it away as a reward to those who help us build out our platform. that could be influencers or community managers, or someone that brings us great projects.
For now, is $ LPOOL listed on the exchange?
Not right now. it will list on Uniswap on the 22nd of Feb.
Just before token distribution starts.
We heard that Farming $LPOOL has been launched. Can you tell us a little information about that?
Sure. you can stake any of these tokens:
1inch: 1inch.exchange ($1INCH)
Bondly: bondly.finance ($BONDLY)
Rune: thorchain.org (ERC20 $RUNE)
Uniswap: uniswap.info ($UNI)
Polkastarter: polkastarter.com ($POLS)
Sushi: sushiswap.fi ($SUSHI)
ShareRing: sharering.network ($SHR)
Standard Tokenization Protocol: stp.network ($STPT)
PAID Network: paidnetwork.com ($PAID)
To earn our token $LPOOL.
Distribution starts on the 22nd, you can get into position before then. when gas prices are low.
So you can stake now, your rewards start accruing from the 22nd.
Distribution lasts 90 days.
There will be a naked $LPOOL pool and a Uniswap v2 token pool.
Q4. At the moment, what is Launchpool focusing on? Building and developing products, getting customers and users, partnerships, or something unique?
All of the above!
We are constantly announcing things we’re developing fr our community.
We’ve launched our staking platform, which is now open, you can go and stake anytime between now and the 22nd to be ready to receive rewards on the 22nd. Distribution lasts for 90 days. So ramping up that is a big focus, we currently have 8.5m staked into our contract.
Behind the scenes, I'm working on bringing in some great projects to launch and making sure our phase 2 — project launching is ready.
We have some amazing partnership announcements coming too.
Stuff that will surely get people excited!
Q5. What are some achievements that Launchpool has achieved so far? And what are Launchpool upcoming plans, Especially in 2021?
As above we have had some notable achievements already. With the backing of 10 of the biggest industry funds, our contracts getting audited successfully by Certik, passing with no issues. the team has been scaling up nicely. we’ve had a lot of industry influencers endorse us, so that's really positive.
We’re really looking forward to 2021, we have some great plans to launch some of the best projects out there.
We aim to become the gold standard for launching crypto projects. that's my aim for 2021.
I’d like to tie in some big players as partners. and I’d like to have the most vibrant and helpful and successful community in all of the crypto!
So nothing too challenging!
Questions asked on Twitter for LAUNCHPOOL team
Q1 from Twitter username @mylhe
How does your platform welcome new users on your platform? How do you consider small investors in Launchpool? What is the vital role of the community? How did you get suggestions and opinions from the community and investors?
We welcome everyone! Small investors are very important to us. We want everyone to be involved. the community is the project. projects live and die by their community so it's important to us that we have the best one!
We want our community to have the chance of investing in and being part of the projects we launch.
We are always listening to feedback from our community through our social channels, we’d love to hear from you!
Q2 from Twitter username @bimasuryaatmaj1
Can tell us why Launchpool Business reward disbursement will eventually be managed by DAO, what is the reason?
Because the community is so important, it's important to us to give it some responsibility. Whilst this won’t be straight away. we ant to give the DAO/community some say over how our rewards are given away or spent.
The DAO structure allows us and the community to manage this token distribution in a fair and transparent way.
Questions asked by our GreatDrop community members during live Session to LAUNCHPOOL team
Q1 from Telegram username @update_908
What is business model of your project? How it works? and
Who are your potential customers and which markets are you targeting on?
The business takes a fee from the projects we launch. We use that to pay for everything. if there is any leftover we will buy our token off the market and give it away to people who help grow ur platform. we think this circular economy is better than buy and burns.
Q2 from Telegram username @emojilover80
How will you attract investors and build the trust and win the hearts of millions of people in your project?
We aim to attract people by giving them tokens for free! you can earn them through staking during the 90-day distribution. or you can try and earn them through our ‘ endeavor reward’ system, which aims to give tokens to those who help the project in a number of ways that I have set out earlier.
Q3 from Telegram username @Saiful111111
From where you get the project name? What does it means to you? And why you choose this name for your project?
The name comes from the ethos of the project. it is our intention to pool all the resources of every stakeholder so that we can all work together for success in launching projects. Hence Launchpool.
Closing words from our guest to GreatDrop Community
I’d just like to say that is been fun, thanks for everyone taking the time to find out about our project, come and join us investing successfully!