Launchpool AMA Summary Recap with Shin Chan Community
We held a live AMA with Roxana, Head of Community, Social and Outreach of Launchpool on 6th May 10:00 PM (UTC+8). Here’s the recap for those who missed it.
Introduction
Serene| Shin Chan: Before AMA start, can you introduce yourselves and the team background?🚀
Roxana : Yes, certainly.
My name is Roxana Nasoi, I joined Launchpool last month as Head of Community, Outreach and Social. Before that, I’d been an entrepreneur since 2009, and launched several ventures, fell for Bitcoin in 2013, and alts in 2016. During 2016–2019, I toured around the world, in about 50 countries, to get a feel for the community. Probably been to your countries too.
Our team’s background at Launchpool is quite diverse, and heavy in crypto and fintech, marketing. You can check us out at the following links:
Team Details
Liam Robertson- Founder
https://uk.linkedin.com/in/liam-robertson-87246a10
Rich Simpson — CEO
https://www.linkedin.com/in/richard-simpson-40bb6213/
Sean Bond- CMO
https://uk.linkedin.com/in/seanbond81
Didar Hussain — Head of Operations
Roxana Nasoi — Head of Community
https://twitter.com/roxananasoi
Jade Romero — Campaign Manager & Project Manager
https://uk.linkedin.com/in/jade-romero
(coming soon: Head of Content; Lead Social Media Manager, Junior Social Media Manager)
Social Media Links
Launchpool Youtube: https://www.youtube.com/channel/UC9uBDkUeRZ_fOubLFIFu_kQ
Launchpool Twitter: https://twitter.com/LaunchPoolXYZ
Telegram LP Community: https://t.me/launchpoolxyz
Telegram Announcements: https://t.me/launchpoolannouncements
Telegram Support Chat: https://t.me/launchpoolsupportofficial
Telegram Trade Chat: https://t.me/Lpooltradechat
Launchpool Medium: https://launchpool.medium.com
Launchpool Linkedin: https://www.linkedin.com/company/launchpool-uk
And of course, our Support team and chat mods: 14 people. :)
Today, we just launched our Newsletter: https://launchpool.substack.com/p/coming-soon
Serene| Shin Chan: Do you have any news/update about Launchpool would like to share with us?
Roxana : Yes, of course.
First time we’re mentioning this, but we have big news coming up for Launchpool and LPOOLers. We can’t say much, but it relates to our roadmap, and ties closely to our $LPOOL token and our vision to support and offer egalitarian investments to our community, as well as to support each and every one of our community members in being their own VC.
We will have more news announced over the course of the next 2 weeks.
Next off, more friendship PuPs (Pop-Up Pools, where you can earn free tokens of upcoming projects on Launchpool), as well as staking pools to earn more LPOOL tokens or partner project tokens.
Every week, we onboard new exciting upcoming AMEs (allocation mining events) — these are projects that offer our community the opportunity to invest in their private rounds at private prices and vesting schedules.
AMA Twitter Section Begin:
Q1 : How many different pools are there on Launchpool? What is the difference in the staking rates of these pools?
Is it enough to just tie our wallet to join your club?
Roxana : Thank you for your question.
So on Launchpool, there are 2 types of staking:
- You have a staking opportunity to earn more LPOOL tokens, more partner projects tokens, and more PuPs (as I mentioned, these are free tokens to earn based on your staking of LPOOL in that pool)
2. Staking in AMEs (allocation mining events). Here, you have to create an account on app.launchpool.xyz, KYC, connect your Wallet (1 user = 1 Metamask wallet), and pick from different varied projects that have allocated a token package for our community.
In both staking formats, Staking Period + Staking Amount is factored in, when calculating your token allocation.
Now, for staking in an AME, the process is quite simple.
Launchpool is an investment platform, that offers its community the opportunity to participate in projects at the same preseed price and vesting period as funds and investors typically get early stage.
We call this an allocation mining event.
Participants have to KYC, and then stake $LPOOL (our token) in the 3 available staking pools: 50 (max limit), 250 (max limit), and unlimited.
They then get an allocation % in the project, where time and amount are factored in.
After they deposit the ETH, they claim the tokens from the project, and receive their LPOOL back.
If a project comes to us with a 500k allocation, then we equally divide that 500k into the 3 pools mentioned above (50, 250, unlimited).
That’s what we refer to as egalitarian investment.
Allocation in a project is basically guaranteed, as opposed to being a lottery.
Less gambling and more like being your own VC. Community loves it.
Q2 :$LPOOL is open to all, how simple is it to start staking and earning in the launchpool ecosystem, is it friendly with newcomers to crypto?
Roxana : Great question.
I know from experience crypto can be a wild wild west. Even with the extensive technical knowledge in Bitcoin and alts, it took me a while to get ahold of what DeFi is. Not sure we understand its full capabilities, to be fair, haha.
We try to be as newbie friendly as possible. Our community is super supportive in this sense, and our amazing Chat Mods are happy and eager to help.
We have a dedicated support team working monday to friday to handle KYC, and generic issues, and a support chat at @LaunchpoolSupportOfficial where we try our best to help out.
Things will become much easier once our Head of Content is joining us in 2 weeks, to help us craft an educational wing and Knowledge Hub for anyone to understand and learn crypto.
For now, it’s fairly easy to use Launchpool: you go to Launchpool.xyz our website, connect your MetaMask wallet (desktop version please), and as long as you have some ETH / BSC and LPOOL, you can participate in the open pools, friendship pools, PuPs, and naked pools to earn our token or partner project tokens.
If you wish to join the AMEs, as I mentioned, you have to KYC and create an account.
Q3 :Can small investors earn good money in Launchpool? How did you get the feedback from the community and investors.
Roxana : Short answer is YES.
Long answer is:
As I mentioned before, there are 2 types of staking in Launchpool, and therefore 2 income streams.
I think you got the picture based on my previous replies, but just to explain again:
Staking in the available pools generates you rewards. You can stake $LPOOL to earn more $LPOOL. You can stake $LPOOL to earn more partner project tokens. You can stake $LPOOL to earn free tokens of upcoming AMEs in a PuP (Pop-Up Pool).
You can stake as little as 1 $LPOOL token, or as many as you want or have.
If you’re a small investor, and have under 50 $LPOOL tokens, you can take part in the Allocation Mining Event, and access the 50 LPOOL allocation %, based on the amount of LPOOL you’ve staked, and the time. This grants you access to a specific guaranteed portion of the allocation for that specific mining pool. Then, you just deposit the amount indicated, and claim your allocation.
We have a investment team that checks team credentials and does DD, but we do advise everyone to do their own DD and investigate each project, and invest at their own risk.
As opposed to other IDOs, we are a pre-IDO, an investment platform, hence you have the same investment terms as VCs and funds have in a private sale round: for the price, and the vesting schedule.
ALL of this is transparently communicated in the project description, and on our Medium and Twitter posts, as well as our Community on TG.
Q4 :Your tagline is very interesting “Egalitarian investing”. how do you make the crypto space egalitarian? Is that possible?
Roxana : Great question.
Our brand identity (if you look at the Launchpool Logo) is basically an infinity loop, that ensures a circular experience.
The way we tackle into the egalitarian investment mission is by providing a #FairLaunch4ALL.
First off, we make sure that our community gets access to a fair price during the allocation mining event.
Secondly, we ensure that there is a vesting schedule that everyone follows, so that the chance of a pump and dump is lower.
We invite all teams to do an AMA with us on our @Launchpoolxyz community prior to their allocation mining event, and publish a write-up for the community, so that everyone has access to the information beforehand.
We provide as much detail as possible on all aspects that an investor would typically be interested in.
KYC is done every few months, so as long as you KYC once, you can participate in upcoming projects until the next KYC cycle kicks in.
If a project comes to us with an allocation amount, then we equally divide that allocation into the 3 pools mentioned above (50, 250, unlimited).
That’s what we refer to as egalitarian investment. You can take part in only one pool, or in all 3. And the allocation % is calculated based on time staked and amount.
Moving forward, we will also incorporate more of a longterm “be your own VC” strategy to complement our Egalitarian Investment mission.
Q5 :How can you say that Launchpool could definitely be the best option for launching a Blockchain Project compared to other alternatives?To convince everyone that you are the best, Is it possible for you to prove this difference with the successful examples you have realized so far?
Roxana : Yes, thank you for the question.
As we mentioned, we are not an IDO platform.
We are a pre-IDO platform. That means projects come to us first, before going to IDO platforms like Polkastarter, Mantra, etc.
We actually have a good relationship with them, and many of the pre-IDO launches that we did went on to do an IDO on the other platforms.
The main difference with us, is that to access an allocation, as long as you follow the steps (sign up, KYC, connect 1 Wallet — 1 Person, stake LPOOL in your pool of choice), you receive a % allocation that you’re entitled to. There is no lottery, and no “if you’re lucky, you get in”.
We also have significant diversification in the wallets that participate and hold the token of that certain AME.
We also support projects with our marketing, and introduce our community to the upcoming projects early on.
There is synchronicity and we typically communicate very well with projects and teams, up until TGE, and after.
We’ve already launched several AMEs last month, all successful, and going forward we want to publish reports for the previous month in regards to stats, success rate, and overall experience for each project. I think that way, everyone can read the report and understand with numbers and testimonials that we really are doing a good job.
Typically, within the first 2–3 hours of the debut of an allocation mining event, we see our community staking up to 13–14m worth of LPOOL tokens, which shows great interest.
Telegram Live AMA Begin:
Q6 : 🔥You have a team that has been in blockchain technology since 2012. How has the long years of experience of your team provided an advantage in establishing strong connections in the industry? What will your experiences in the industry add to Launchpool?
🔥How does Launchpool work on equitable investment? How much do you attach importance to ensuring equality among all project stakeholders?
Roxana : Great question. Launchpool is backed by Alphabit fund and other 12+ top tier funds. This helps us get access to really good projects and a healthy global network. As I mentioned before, we have a clear process on participation and allocation for every type of investor, whether small, medium, or whale.
Q7 : Blockchain is slower by default than other similar, centralized applications. DeFi application developers need to take these limitations into account and optimize their products. how about your project on this matter?
Roxana : We are a small team and have only been around for 2.5months, and already so far ahead (right?). We have a good dev team that supports us, and we try our best to factor in the community feedback regarding product.
We also have a Council (which I absolutely adore) and they make sure to collect and suggest product features themselves.
It’s a continuous work in progress, but we’re getting there, and improving every week.
Q8 : Briefly tell me how does your launchpad works? What makes you better than Polkastarter?
Roxana : Please refer to my answer here https://t.me/ShinChanEG_IEO/317006
Q9 : Can you tell us about the motivations and benefits for investors to deposit $LPOOL tokens in the long term? What plans do you have in place to help drive demand and token scarcity?
Roxana : Yes, we have plans in place. In a few weeks, we are making changes to how LPOOL can be earned and mined (with LPOOL naked pools).
We’re also adding options to deposit BSC or stablecoins, and not just ETH.
We can’t share too much, but we have some major milestones in place on our roadmap for the next 3 to 6 months, in line with the Be Your Own VC mantra, that will make our LPOOL token holders want to be with us longterm. Keep an eye on our channels please, as we start making more announcements next week.
Q10 : Joining the BSC is a good idea but prices keep going down. Marketing and more good projects are needed for launchpool to survive. Can you divulge what you will do in the near future so that the token price remains stable or does not go down?
Roxana : I think portion of the answer was provided before, but I’ll just say: we’re upping the game in terms of Launchpool brand. Expect more content, news, talks, podcasts etc., and better visibility for us and our mission coming soon.
Q11 : What is your motivation for creating the $LPOOL token, and what will I see in the future regarding your project? How do token holders benefit from these tokens?
Roxana : LPOOL is the heart of our Egalitarian Investment. The token is needed in many of our products and plans. It’s a core feature of everything we do, and it helps us achieve the mission.
The team created the entire concept in order to answer the unfair game behind token launches, ICOs, IEOs, IDOs, where only few people get access to investments, most of the time it’s a game of how early you are, who you know, or how big your bag is.
Retail investors were left behind, and victims of pump and dumps, and so Launchpool stepped in.
This was the vision of our CEO, Rich.
Q12 : I notice that you have been audited by #Halborn, but I would like to know if there are risks that investors could be exposed to by using their protocol? Is there part of their code base that could be improved? Also, are project developers subjected to KYC before their projects are screened and do these projects also make use of your formidable security architecture?
Roxana : We have confidence in our devs, they’re really amazing, and quick to act.
Our community is also highly active, we’ve already received some good security suggestions, as well as bug fixes from them.
We’re open to bug bounties, btw, and always happy to improve our security.
Because as you may know, just because there’s a blockchain, that doesn’t guarantee security.
The KYC part is handled by a trusted 3rd party, and we’re very careful with any data we collect.
Q13 : On their website they frequently mention “that the benefits are equal for all”, but really all the parts that make up the project carry out similar tasks that deserve to be rewarded all the same? or what do they really mean by equal benefits?
Roxana : I’ve explained here: https://t.me/ShinChanEG_IEO/316997
Q14 : For investors, the STABILITY of the $LPOOL price is very important in the long term. How are your efforts, whether to intervene in prices if there is price fluctuation?
Roxana : Crypto is volatile by design, as a space and industry.
However, as I mentioned, we’re doing efforts and launching new initiatives on our roadmap that will give LPOOL token holders an opportunity to access deals early, aside from AMEs. Can’t say more today, but everything will be revealed in due time.
Q15 : 🌀🌀Users can withdraw their $LPOOL at any time while staking, with this possibility, how do you incentivate them to stake long term? Is there any unstaling punishment or incentive for long term stakers?
Roxana : We will announce in two weeks time the roadmap and why you will want to be a longtime hodler of LPOOL. :)
Q16 : what happens with the retired staking pools? if one for example staked $1INCH, can you still claim your rewards even after it is retired or are the rewards lost?
-What is the current circulation of LPOOL???
Roxana : Please check https://www.coingecko.com/en/coins/launchpool for the latest stats on LPOOL token.
If a pool is retired, it will not return, unless communicated otherwise.
Q17 : 🍋 How does launchpool deal with the pressure of a project being launched on its platform ending up as a scam?
Roxana : Investment comes with risks. We always advise people to not invest more than they can afford to lose.
From our side, we do our DD, but at the end of the day, we can’t control everything.
Being your own VC comes with accountability and risk management.
We do plan to create more materials to help with financial education, and until then, the vesting schedules and private sale prices help us mitigate risks.
Q18 : You describe that each investor will become an important part of your project, but could you tell us a little more about it? Really, what important changes and actions can investors make that affect the project?
Roxana : Can’t say too much now, please keep an eye on the announcements coming next week and the week after. :D
It will make so much sense, because ultimately, there is no Launchpool without Community.
And you can’t have Technology without Community backing it up (quoting myself here, a bit )
Q19 : 🟡 Launchpool is built mainly on Binance Smart Chain (BSC) right? why did they decide to BSC before other more solid chains like Ethereum or Polkadot? Do you plan to integrate more chains in the future or will you achieve everything thanks to BSC?
Roxana : No, Launchpool was initially just on ETH, but we decided to add BSC integration to help our community handle the large fees.
We plan to become blockchain agnostic, and have partnered with Multichain to support bridges between different chains.
Q20 : ✅ As Launchpool is a community of projects it is obvious that if I decide to create a DeFi protocol to incorporate it there I will encounter several competitors. How do you make sure that other malicious projects do not take advantage of my startup to send attacks? Is there any kind of sanction for those who perform suspicious activities?
Roxana : By the time you get to us, you’ll already be a known project, to be fair.
With open source projects, there’s always a danger of a bigger better backed startup or team coming and stealing your idea. What matters here is to have a strong community and strong backing.
With Launchpool, you have our 30k investor community supporting you, as well as Alphabit and other 12+ top tier funds supporting your project.
And the more aggressive your marketing, the more you talk about your project, the lower the risk of someone stealing your idea.
As I said… you can’t have technology without community backing it up!
Q21 : ♾️🌿 Could you tell me about the recent Launchpool and Greenheart $ CBD partnership? And in short, how did you respond to Ethereum?
Roxana : Very delighted with our collaboration with Greenheart. They’re an amazing team, global and longterm vision.
Launchpool and Greenheart teams add an additional $25,000 worth of tokens for the LP community in response to ETH price. :)
Q22 : Con you show us your roadmap?What is your key objective for this year? What are the things that you have in the pipeline?
Roxana : Benefits for $LPOOL Holders
There are four key benefits for $LPOOL token holders:
Access to projects at the earliest rounds, enabling investors to access best prices without the associated minimum threshold reserved for investment funds.
Peace of mind investments are made in to bona fide projects that have been vetted on a number of levels.
Chance to become a meaningful part of new project’s communities.
Benefits for New Projects
There are five key benefits for new projects who participate in the Launchpool:
Promotion through association with some of the industry’s most recognisable names.
Leverage contacts and industry know-how of some of the most successful funds in the sector.
A ready made community keen to engage.
A diverse customer base.
Capital.
Benefits for Investment Funds
There are four key benefits for investment funds who participate in the Launchpool:
Engaged communities that can leverage the power of the crowd and turbocharge growth hacking.
Community curation and feedback. Deeper insights into why and how projects are successful.
Secure more top quality projects.
Opportunity to give something back and to be closer to the crypto community.
Roadmap
Q4 2020
Website and branding launch
Smart contracts built and in testing
Q1 2021
Staking contracts audit complete by Certik
Staking contracts deployed on Mainnet
Marketing and community building starts
Staking for $LPOOL goes live and concludes
$LPOOL distribution completes
Smart contracts for Project investment testing and auditing
Q2/Q3 2021
Process refinements
However, something more will happen over the summer, and we’re announcing it in 2 weeks time :)
Q23 : 📕 You comment that Launchpool will allow access to bona fide projects that “Have been vetted on several levels” Could you elaborate a bit more on how you go about this review process? In what way do you decide that a project in trustworthy enough to be part of the community?
Roxana : Last question to answers, but kindly inviting you all to get your answers in our LP community at @launchpoolxyz
To answer quickly, as time is up: we have an investment team that checks and ensures that all details on the investment side are in place and correct, several vetted processes, and by the time we make the public ANN regarding an upcoming AME, all the details, checks, and information are in place. :)
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