SolPAD Summary Recap with Shin Chan Community
We held a live AMA with Rayane Hocine, CEO of SolPAD on 26th May 9:00 PM (UTC+8). Here’s the recap for those who missed it.
Serene: Before AMA start, can you introduce yourself and the team background?
Rayane Hocine: I am the CEO of SolPAD. I graduated with a Master of science in Business entrepreneurship & innovation. I was CEO & founder of Magna numeris. I was involved in other blockchain projects officially and non officially since 2017.
Julian the CMO of SolPAD. he graduated with a major in Finance, started his career in investment banking, ventured into the insurance industry and finally landed in this great crypto industry back in the year 2019. He was the Country Manager of SnapEx in Vietnam, a crypto trading platform with a strong presence especially in Asian region. He is unfortunately not present today with us as it’s his birthday :)
Abdelhamid is our CTO. He is an experienced technology guy with a demonstrated history of working in the information technology and services industry. Skilled in Management, BlockChain, DevOps, Software as a Service (SaaS), Micro Services, and Agile Product and 4 years working at Google where he has a lot of experience in professional project management.
I personally got into blockchain with the project HumanIQ in London in 2017, when I finished my master degree a month before. During that time, I used to be flatmate with Dickson Nsofor, Founder and CEO of KORA, to whom I will always be grateful to for everything he made me discover in blockchain and cryptocurrencies. All the other projects I worked with allowed me to gain a lot of experience and contacts in the sphere, from failures to successes.
Serene: Any latest/ update news about SolPAD Finance you would like to share with our community?😀
Rayane Hocine: We released 3 days ago our platform, for the moment only under solana. you can have a glance at our swap and launchpad :)
AMA Twitter Section Begin:
Q1: Regarding Launchpads, I looked at “Solpad”.. and it doesn’t seem like just (another launch pad)..
You have more than one launchpad product. And you combine with DEX and multi-chain Wallets, right..??
So can you give us some of the top features about a financial “Solpad”..??
Rayane Hocine: Solpad Finance is an AIO Platform built natively on Solana with true multichain support. The main aim of Solpad is to solve the illiquidity problem of Solana Ecosystem, and to provide the one harmonized UX/UI using our platform (an important thing that usually getting neglected by other projects)
Furthermore, Solpad Finance is backed by most reputated VCs and partners (you know some ;)) within the Blockchain Industry. We are trying to solve real problems, and avoiding overpromising, especially in the current over-hyped market condition.
Our products consist of a Launchpad with tiered structure and guaranteed allocations for Token Holders, An AMM DEX helping to bridge tokens from Solana to other Blockchains (ERC20, BSC20, etc…) and a multi-chain wallet, allowing users to store, transfer and swap digital assets on different chains.
All built natively on Solana.
Q2: It came to my attention that you have decided to make the decision to delay the official release of the SolPAD IDO by one week. What exactly were the reasons for this change in the date of your IDO? What advantages will this small delay offer to your users and partners?
Rayane Hocine: Due to recent market conditions, we decided to push forward the day of the IDO. It is always difficult to launch something new when there is blood on the market, that’s the only reason why we decided to push to 2nd of june.
To avoid FUD, we also decided to put live our launchpad and swap on our website solpad.finance, have a look at tell us what you think. So don’t worry, IDO is in only 7 days :)
Q3: Solpad believes that Solana is the blockchain of the future, and the ultimate economic equilibrium will be reached when the majority of DeFi projects will be launching on Solana. What do you think is your advantage being a platform under Solana?
Rayane Hocine: SolPAD started with a very simple idea, to provide an alternative to current market situation, especially the crazy fees and delayed transactions due to the network congestion. As we can see, the congestion on Ethereum networks have caused high gas fees, which actually discourage users from joining in the crypto industry. This is especially important for the new crypto users, where the “joining cost” is very sensitive and decisive. With the skyrocketed growth in Binance Smart Chain, we foresee the same thing will happen over BSC. Hence, we come out with the idea of launching a Solana-based launchpad. Due to it’s high performances, cheap fees and growing ecosystem, Solana is the way for us to go for SolPAD.
Q4: Who do you think is Solpad competitors in this vast world of crypto? What is your groundbreaking features that you think can compete with other platform or even the big platform? Does Solpad ready to compete to well known blockchain?
Rayane Hocine: Some might say Solstarter and Solanium are our competitors, but we don’t view anyone as our competitor. We want to focus on our core products, providing the best possible products to the market and contributing as much as we can to the ecosystem and the crypto industry
The biggest difference should be the multi-chain aspect and all in one platform. I am not going to comment too much on the other projects individually since I wouldn’t want to create rivalry. We believe firmly that strong fundamentals are our difference and advantages.
Q5: Is the Solana network really in great demand in the development of new projects? If so, could you tell us about some projects you have already contacted SolPAD to launch? If not, then why develop an IDO platform if there are not many projects in this network?
Rayane Hocine: Yeah, Solana is one of the top blockchain where the ecosystem is booming. I do believe that this summer will be crazy on Solana. We will soon publish after our IDO the projects we onboard on the Launchpad, and am proud to say are quite promising.
We will host the first IDO on our launchpad (outside of ours which is the 2nd of june) we hope around mid june. We have few projects ready on the backs. Btw if any project is looking to ido, please reach us.
Telegram Live AMA Begin:
Q6: I saw your solwallet is a multi chain wallet, will this wallet support for future solpad ido?
Rayane Hocine: AM answering this one because we did not until now answered regarding the wallet. The wallet will come later this year or even maybe next year, we do have already a lot of work on the launchpad and AMM with integration of cross chain with all the chain the community want us to add. but yeah the wallet will be fully integrated in the other products for sure.
building a wallet is always sensitive, and we want to launch it when the other products have already well evolved and if we have successfully protected the wallet.
Q7: Currently most investors only care about profits at the moment but ignore the long-term benefits. So can you give them some advice why they should buy and hold this token/coin in the long term?
Rayane Hocine: SolPAD’s ecosystem is powered by the PAD token that enables a number of unique mechanics and potent flows of monetizable utility to its holders and, most importantly, powers the SolPAD’s governance layer. PAD is SolPad Utility Token running on Solana (SPL). PAD token is having multiple purposes within SolPAD
Voting with the Token, Governing with the Token, Staking, Liquidity Mining. And within the Ecosystem : Listing at SolPAD App wallet, Airdrop to PAD holder users, Staking to participate in SolPad IDO, Incentives/ Liquidity Rewards: will be used to reward those who provide Liquidity to our Farming platform.
For more information, you can also check it out on https://docs.solpad.finance/tokenomics/token-utility
Q8: How innovative is solpad compared to your competitors ie solstarter and Solanium? What are the unique selling features? What’s that thing that will make us feel that the project needs good attention?
Rayane Hocine: Our cross chain aspect. and we actually ship product compared to some that did not yet 😏
Q9: I’m a developer, and I’m interested in contributing to your project alongsides earning, Do you have any Bug Bounty to check for vulnerabilities ?
Rayane Hocine: please reach our admins on our TG channel
Q10: What is more important for you, token value or technology development?
Which one do you prioritize for the sake of the development of #solpad finance project and why?
Rayane Hocine: as a launchpad, I can’t say that token value is not important haha. but at solpad we focus on multichain, so building good technology is upmost important for us.
Q11: According to the solpad project roadmap, what are the most important priorities for your project? have you had a strong partnership to achieve this?
Rayane Hocine: success IDO launch, and also getting as much as possible great projects into our launchpad
Q12: I see that there are some tiers on your system. What is the objective of it and how does the mechanism work?
Rayane Hocine: SolPad will give everyone an equal chance to join IDO on our platform. With a tiered structure that benefits our holders, the chance to buy IDO will belong to the people, not some whales using Bots. IDOs on SolPad will use a tier based system to determine the guaranteed allocation for each participant in a pool. It’s a fair and simple process. We have 5 tiers, namely seaweed, shrimp, crab, shark and whale. Each tier will have its own allocation size. Seaweed will be on a first come first serve basis, the numbers of the allocations shall be decided by the project. The next 4 tiers will have their allocations splitting equally among the investors. Below are the tiers structure:
Seaweed (First come first serve basis) : If you staked 15.000 Pad, you access to 4% of total pool weight splitting between participants
Shrimp : If you staked 60.000 Pad, you access to 7% of total pool weight splitting between participants
Crab : If you staked 100.000 Pad, you access to 14% of total pool weight splitting between participants
Shark : If you staked 180.000 Pad, you access to 27% of total pool weight splitting between participants
Whale : If you staked 280.000 Pad, you access to 48% of total pool weight splitting between participants
Q13: It is recognised to many investors that,
the quality of a project is based on the Main Token, so considering this can you give a full description about the tokenomics or funtions of the $pad Token ?
Rayane Hocine: all infos regarding token are on our documentation https://docs.solpad.finance/tokenomics/token-overview
Q14: I noticed that Solpad is backed by the most reputable VCs and Partners in the Blockchian industry. Could you name some of them please?
Q15: Lately I see some projects are trying to move to other blockchains from erc-20 but fail and switch back. Do you plan to switch to BSC or only Solana?
Rayane Hocine: We will integrate ERC and BSC by the end of next quarter, if everything goes as scheduled. We also exploring the NEAR and Avalanche Blockchain, and hopefully will be finish before end of the year
Q16: By convincing the investors of the “buy and hold” motto, getting the $ PAD in their hands for a long time will make your team’s job much easier. So, how do you increase your investors’ confidence?
Rayane Hocine: shipping products is a great philosophy haha, at solpad we recently demonstrated
Q17: How is governance system work on Your project ecosystem? Who is in charge of governing the system, what is needed to be eligible for being authorized? On what kind of decisions can they vote on about the Your project project?
Rayane Hocine: By using the DAO structure, PAD holders can use PAD to participate in Governance decisions of the platform, such as deciding pools ratio on upcoming IDO, or vote which IDO will be launch on SolPad
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