Launchpool AMA Recap

Launchpool AMA Recap
Launchpool AMA Recap
Cryptodiffer Team
Hello, everyone!😁 We are glad to meet here Richard Simpson (@Rich_Launchpool), CEO of Launchpool
Hey everyone, pleasure to be here. Thanks for having me and taking time out to listen
Richard Simpson
Richard Simpson
Launchpool AMA Recap
Cryptodiffer Team
Our team has prepared 3 questions for you to start with! Let`s start from the introduction ! Q1: Can you introduce yourself to our community?
I am the CEO of Launchpool. Before joining Launchpool, I worked as the Director of Research and Projects at Alphabit Digital Asset Fund. I got involved in crypto as most people did i think, a friend recommended i look into it. I bought my first crypto in 2014 but didn’t go down the rabbit hole until 2016, luckily i've been working full time in the space for 3.5 years. linkedin.com/in/richard-simpson-40bb6213
Richard Simpson
Richard Simpson
Launchpool AMA Recap
Cryptodiffer Team
let's now talk about your project: Q2: Can you introduce Launchpool to us?
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 are 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 minimised risk for everyone. Risk of dodgy projects for small investors, but also for funds. We think our model minimises risk for them too. We aim to incentivise our community to stay with projects and use the service of the projects we launch so hopefully its a win win for everyone. Projects also get the benefit of a bootstrapped community and well connected investors/funds. so really its about everyone being equal, or at least treated equally and all pulling together in the same direction to everyone's benefit would you like me to notify you when i have finished answerring?
Richard Simpson
Richard Simpson
Launchpool AMA Recap
Cryptodiffer Team
This will be the last one from us: Q3: Let`s now talk about the milestones you have achieved so far and about your upcoming plans
We launched our token distribution. This started on the 22nd $LPOOL. Our launch of 11 staking pools for different tokens has had immense response, accumulating over 50 mil TVL in the past few days. Here is the list of staking pools: 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) each pool earns our $LPOOL token staking.launchpool.xyz for access We have had our phase 1 contracts audited by Certik. Phase 1 is our token distribution Phase 2 is the project investment side. Auditing of phase 2 contracts will be complete before we launch phase 2. Phase 1 will last 90 days, during that period we will launch phase 2. We have lots of exciting announcements and partnerships coming up. Of course these will include some of the first projects we will launch. right now that is our main focus, filling that pipeline up with real quality. having so many funds as partners helps with that of course other goals for this upcoming year are to integrate with other blockchain than just Ethereum and also go to layer 2 when that arrives that is it! ready for the community questions!
Richard Simpson
Richard Simpson
Launchpool AMA Recap
Cryptodiffer Team
Perfect, thank you for your answers It is time to move to the community questions part.
Launchpool AMA Recap
Cryptodiffer Community
Blockchain doesn't mean decentralization yet. What is the level of decentralization in Launchpool and where is user funds stored?
I think Ethereum is pretty decentralised, you could argue about mining, but as BC's go, its up there. All funds are held in smart contracts and remain under the custody of the stakers. that will always be true of our contracts. you can have a look at our audit, its posted on our github with the contracts.
Richard Simpson
Richard Simpson
Launchpool AMA Recap
Cryptodiffer Community
Do you have mechanisms such as buyback and burning to regulate the demand and supply of $ LPOOL , so as to increase its intrinsic monetary values?
We aim to create a circular economy with our token. We have 25% of our tokens put aside for ‘endeavour rewards’ these are tokens that can be given away to the community, to those members who go that bit extra in providing value to our project. That might be an influencer helping us promote, it could be a community manager growing our community. It could be some tech guys helping with our service development. If we keep giving our token away then we’ll run out of it. So to replace it we’ll buy it off the open market. We will use funds from previous project launches to do this.
Richard Simpson
Richard Simpson
Launchpool AMA Recap
Cryptodiffer Community
You made this AMA receiving very interesting questions about your technology, what is the feedback you want to receive from us as a community?
Our community can be really helpful to us by telling us what you want. We will shortly be launching a poll in our telegram to find out what proejcts you want us to list; therefore what proejcts you want to invest in. We think this is a great first step and we'd be interested in hearing your thoughts
Richard Simpson
Richard Simpson
Launchpool AMA Recap
Cryptodiffer Community
Security is top for all stakeholders, so 51% attacks happen frequently and even to the most known blockchains, can you tell us how does your Project prevents such attacks?
We're on ethereum.
Richard Simpson
Richard Simpson
Launchpool AMA Recap
Cryptodiffer Community
What geographic market is Launchpool currently focused on?
Any. we will not accept people from the US or residents of UN sanctioned countries. Regulation is important to us. As is living by the rules. To get access to projects via our platform yu must be KYC'd for example
Richard Simpson
Richard Simpson
Launchpool AMA Recap
Cryptodiffer Community
Many projects rug pulled and exit scam recently. Why should investors trust your project not to do the same?
we are not an anon project. we also have the reputation of many sector leading funds onboard. so there is no possibility of us doing anything nefarious. Also we will not launch any projects that have not been subjected to KYC. no anon projects, this should minimise risk. However there is always risk in everything we do, so DYOR
Richard Simpson
Richard Simpson
Launchpool AMA Recap
Cryptodiffer Community
Could you tell us about the Launchpool team and some of their backgrounds? I have personally seen many projects launch with inexperienced team members, and some of those didn’t go so well due to easily avoidable mistakes.
I respect the choices of my team to remain private if they wish. Crypto is built on the fundamental right to privacy after all. e have many experienced team members that have launched many projects before. We have a board of CEO's of the founding funds who are all publically known. They can be called upon to help us if we require it. In most businesses the CEO is public, as i am, and the team behind him remain private.
Richard Simpson
Richard Simpson
Launchpool AMA Recap
Cryptodiffer Community
How can users earn $LPOOL? Launchpool in the near future will develop new features to increase the chances of making money for users?
you can stake for rewards now for free! stake and unstake whenever you wish, no fine for unstaking. Come and join our community and farm with us! Or you can try and earn endeavour rewards as i mentioned earlier.
Richard Simpson
Richard Simpson
Launchpool AMA Recap
Cryptodiffer Community
Anonymous projects really suck in general. Among all the funds incorporated in your community will there be any anonymous ones?
No anonymous funds either. There are a couple that are not mentioned on our website, but this is just because they're a little bit smaller.
Richard Simpson
Richard Simpson
Launchpool AMA Recap
Cryptodiffer Community
How do we provide collateral for Astralcoin borrowing program? What percentage of our collateral can we borrow? What are your marketing plans to achieve globalization?
I have never heard of Astralcoin! but i'll ave a look thanks
Richard Simpson
Richard Simpson
Launchpool AMA Recap
Cryptodiffer Community
Can you tell us the motivation and benefits for investors to hold #Launchpool long term? What plans do you have to help drive demand and scarcity for the token?
The benefits to holding our coin is mainly access to investing in projects on the same terms as large funds invest but also - Investment through a regulatory compliant means. - Peace of mind investments are made into bona fide projects that have been vetted on a number of levels. - Chance to become a meaningful part of new project’s communities. some investments will also be coupled with endeavour reward strategies. So for example if its a defi project and its launching very soon, we may incentivise investors to also use the service of the proejct
Richard Simpson
Richard Simpson
Launchpool AMA Recap
Cryptodiffer Community
Recently the value of the LPOOL tokens has increased considerably, do you think this has been achieved by the publicity that your project gives the value that each investor deserves? or just because it looks like a promising project in the long term?
I think it is both. I think we built up some really good momentum into our launch. I think you should interpret that as we know what we're doing and we'll make sure all projects launch in a similar fashion. Also i think people recognise the value of $LPOOL long term. Once you hold that token, that gets you access to every proejct we launch forever. It doesn't take a scientist to work out that could be access to some big gains.....so the token should pay for itself over time. Coupled with the opportunity to farm that token, in a naked pool with no exposure to impermanent loss. Or in a univ2 pool, makes it an exciting opportunity
Richard Simpson
Richard Simpson
Launchpool AMA Recap
Cryptodiffer Community
Most DeFi projects especially those ones offering yield farming are driven up by hype and scarcity, so when the hype dies the project dies. What's the key to sustaining Your Project yield farming ?
People stake our token to get access to projects on our platform. so there will be a usecase as soon as phase 2 goes live, which will be before the yield farming ends everybody that stakes gets a piece of the pie, more you stake the more you get, but there is no minimum amount unlike some other platforms, no lottery, no first come first served. this goes back to our egalitarian ethos, we're trying to do this as fairly as possible
Richard Simpson
Richard Simpson
Launchpool AMA Recap
Cryptodiffer Community
Currently "Staking" is a very popular topic. can you please explain the details about the token staking plan and the benefits of adding "staking"?
You can stake the tokens i listed before into its corresponding pool. and earn an APR, which is shown on the pool. the APR is dependent on the total value locked in that pool. more value, more peple to split the rewards among, so less APR. on the $LPOOL pool the rewards are configured to be higher, at about 2x the other pools. The univ2 pool for ETH/LPOOL is higher again. That gets about 7.5x the amount of rewards the other pools so that is the most rewarding pool by some margin. but you also expose yourself to some risk through impermant loss. you should read up on that if you're thinking of stakng in that pool. you will of course get a share of the fees accrued in uniswap. Thank you everyone, you've been awesome! great questions
Richard Simpson
Richard Simpson