InfinityPAD AMA RECAP
Hello Everyone ! Welcome to our 8th AMA (Ask Me Anything) with InfinityPad. On 20th of Oct 2021, CryptoSpartans had a live AMA session with Andrew Smith (CMO of Infinitypad) & AndreaV (Project Lead of InfinityPad). In case you missed it here is the recap.
AMA Summary:
Segment 1: Questions for InfinityPad Team
Segment 2: Twitter Round Question
Segment 3: Live Q&A
The transcript has been edited for clarity.
Segment 1: Questions for InfinityPad Team
Lucifer Morningstar |HOST
1. Can you please briefly introduce InfinityPad to the community?
Andrea V |InfinityPad
InfinityPad is a next level launchpad to help raise capital across multiple blockchains on a single platform in a fully transparent and decentralized way by connecting projects and communities. It’s the first auto-burn launchpad in crypto space which is completely decentralized and chain-agnostic.
~S~|HOST
2. What project milestones or parts of Roadmap have you achieved until now and what are you working on currently?
Andrew |InfinityPad
So like we are building the launchpad since April this year and it’s was conceptualised way before that . Some delayed due to market conditions initially but on back stage we still keep build a robust system.
So we can say in terms of roadmap, we are almost at product launch stage and our IDO platform beta version is ready.
In terms of finance aspects, we already raised 200 BNB in private sale, 450 BNB in presale and our public sale this FRIDAY for another 350 BNB.
We have few partnership and Audit done. So all milestones achieved ahead of schedule now.
Priyank Gupta |HOST
3. Can you give the community an idea about $INFP Tokenomics and how one can apply for IDO?
Andrew |InfinityPad
You can refer our website infinitypad.io and our medium article/ Whitepaper for the same , however here few points.
$INFP is native token for infinitypad Launchpad with 100 mn total supply and around 30% we are selling on private + pre + public round, with some vesting conditions.
So our mcap will be like approx 400K+ at launch, and rest token locked for NFT, Team, marketing and staking etc and will not come into supply immediately.
Andrea V |InfinityPad
More specially, team tokens are locked for 1 year and then linear release over 12 months.
Andrew |InfinityPad
People interested for IDO can participate this Friday, 16:00 UTC on our launchpad.
For this round no whitelisting etc required and its FCFS for a target of 350 BNB, that should be get sold in few minutes we believe.
Segment 2: Twitter Round Question:
- @Shekhsanu4 : Can you list 1–3 killer features of this project that makes it ahead of its competitors? What is the competitive advantage your project has that you feel most confident about?
Andrea V |InfinityPad
Today, there are several launchpads in the market so why bring another one — this is where we started back in late 2020. We witnessed great innovations in IDO launchpad space since late 2020 but there is still a lot of room for further innovation and improvement to bring an effective and efficient IDO launchpad in crypto space. So, we conducted market research, looked at launchpad market evolution with historical data and developed a platform that a completely decentralized, chain-agnostic and community-owned.
now what makes us different or what is our USP.
What makes us different from others are two unique things:
- Our product/platform is truly decentralized and has auto-burn 1% and strategic burn 2% from our revenue
- Our unique mechanism to reward long term token holders through our Guaranteed Time-Weighted Allocation mechanism. This would ensure that no one from a project’s community is left behind who is a true supports and we still maintain the fair pricing upon launch. The mechanism is based on a mathematical formula that calculates the weightage of participants not just based on no tokens (which all current launchpads do) but also based on the time of holding.
The product we are building is focusing on providing a one-stop-shop solution to blockchain projects to raise funds from their communities. The current launchpads in the market are missing rewarding their long term holders and/or project supporters. People usually buy tokens for an IDO and then sell upon listing. This creates pump and dump scenarios for the projects and more than often, a project’s true community is left behind during its IDO.
These all are what makes us a different, unique and truly community-driven chain-agnostic project in the crypto space. When it comes to benefits, there are many. Briefly:
- token holders benefit from price appreciation
- INFP is deflationary so supply is always reducing
- 1% auto burn on all transactions with 2% strategic price support to help our investors protect their investments during the bear market.
2. @CryptoBitezz : InfinityPad is the next level platform for multi-blockchain fundraising on a single platform but there will be scam projects also .. is their any criteria to filter this and selected good projects as a investors i want my funds safe .
Andrea V |InfinityPad
The bottom line is there is NO way which project is scam or not apart from the obvious hints. As a launchpad, our job is to make sure that we do our best to scan, analyse and then bring IDOs on our platform. Now, how do you do that? There are a few things we’ll do:
- we partnered with InterFi Network which is Canadian smart contract security audit company. So, every IDO on our platform must go through their auditing process to ensure there are no contract bugs or loopholes. This will ensure smart contract security.
- Second thing is to analyse the team, their product development efforts, marketing plans, roadmap etc. Based on this information, we will ask them questions to gauge team’s capability to deliver. If a team is not willing to spend $$$ on product that means they’re not gonna deliver. So, this would be our second important check.
- Another important point is about the community of a project. A project must have plans on how they’re going to build a strong community and what are their plans to keep the community engaged over a long period of time.
Segment 3: Live Q&A
Q1. @enajiteng : Seeing InfinityPad current progress and achievements, looking back on the day you started this project, are you satisfied?
Ans : I m bit workaholic as my team mate says and so never get satisfied. Buy yes quite happy in-terms of meeting all milestones and really happy that we were able to build such a amazing community of 60K+ users and our presale of 450 BNB got sold in few minutes.
Q2. @ArekAdam : I think you are building a good product and growing on the right track. Next, how will InfinityPad make a profit? What is the revenue model? What are the fees and discounts for using InfinityPad platform?
Ans: This is a great question.
We’re a business and we need to generate revenue. In launchpad business, you generate revenue through IDO fees mainly. YOu launch IDOs, you get a fixed % of the amount raised.
We’re going a step further.
In addition to generate revenue through IDO launches, we’re also gonna use $INFP to do strategic investments in NFT projects and whatever ROI we get from this, we’ll distribute among our $INFP holders. I believe this is a game changer for us as you know that investing in good projects at early stage can generate massive return.
Q3. @Gullyking : Are you plan any Exchange for token listing?
Please tell some details about the Listing?
Ans: Initially we will go for DEX only i.e pancakeswap but CEX listings plan in pipeline.
Q4. @Styel_2 : Can you explain the term “Chain-agnostic”? How it works and it is benifits to users of your platform?
Ans: chain agnostic means, it doesn’t matter which blockchain your project is you can raise funds on our platform. It’s similar to Polkadot in terms of foundation — connecting fundraising across various chains with single platform. Not only current blockchains but also all future blockchains that would ever exist.
Q5. @ajay_ak_009 : Partnership and community are essential keys to the success of a project, what partnership have you formed recently? What are the benefits of these partnerships for users?
Ans: We have partnered with InterFi network, one of the leading Canadian blockchain security provider and audit firm. Any IDO to be launched on our platform with go through Audit, KYC and scrutiny via InterFi.
Q6. @Maxwel33 : NFTs as the newest Innovation in blockchain is seeing massive adoption by different platforms, are we likely to see your project integrating NFTs?
Ans: Indeed, NFT is a hot topic and I strongly believe that NFT is just starting and we’ll see the whole NFT market cap going above 1T in USD. The reason — NFT has so many use cases not just minting crazy images ;)
We have reserved 10% of the total supply just for NFT projects. We’ll use that reserve to source and develop partnerships with NFT projects which are innovative and have the potential to deliver solid ROI in the long run. We’ll start by hosting IDOs of such NFT projects on our platform but also partnering with them as their strategic investors and whatever returns we get from those investments will be distributed with our $INFP holders. That’s how we ensure that we are capturing value from NFT space and delivering in DeFi space.
Also, $INFP tokens will be used to mint NFTs on our platform and all tokens will be burned forever. Thus, decreasing supply shock.
Q7. @nosuttaforme : Whitepaper mentions, “The airdrop pool will reward participants for their contribution in raising project awareness”. Can you tell us more about this program?
Ans: Yes ! It’s a innovative product first time designed by any Launchpad! We will have a small BOUNTY pool / Airdrop pool that will be distributed among our community members to spread awareness about the campaign on So-called Media and contribute to the project some way.
Q8. @Rifatahamed : What is the distinctive feature of your project from similar projects? Why should we trust and follow you?
Ans: I think this is already answered above. The way we are different from other platforms.
Flagging again: Our unique mechanism to reward long term token holders through our Guaranteed Time-Weighted Allocation mechanism. This would ensure that no one from a project’s community is left behind who is a true supports and we still maintain the fair pricing upon launch.
We’re the first launchpad to use this and ensuring a fair and transparent allocation.
Thank you everyone once again for participating in this exciting community AMA! It was our pleasure to host AMA with InfinityPad.
