Launchpool AMA Recap — Circularr
Launchpool x Circularr AMA Summary
Place: Launchpool Official Telegram Community
Date & Time: Monday May 9th, 11:00 UTC
Guests: Eric Vogel (Co-Founder), Zack Johnson (Co-Founder), Alex Dolgov (Blockchain Lead), and Lucy Morgan (Marketing Lead) of Circularr
Host: Jean-Marc Griffith (Launchpool Team)
Launchpool was excited to host Eric Vogel (Co-Founder), Zack Johnson (Co-Founder), Alex Dolgov (Blockchain Lead), and Lucy Morgan (Marketing Lead) of Circularr for an interactive Ask-Me-Anything session with the Launchpool Community. The session lasted approximately 1hr, and consisted of questions from the Launchpool Team as well as questions from the Community.
Questions from the Launchpool Team
Jean-Marc Griffith:
Hello and Welcome all LPOOLers
As many in our Community already know, today we have an AMA session with Eric Vogel (Co-Founder), Zack Johnson (Co-Founder), Alex Dolgov (Blockchain Lead), and Lucy Morgan (Marketing Lead) of Circularr.
Circularr is a sustainable blockchain ecosystem focused on the incubation and development of sustainable crypto assets backed by recycled sustainable commodities.
As always, the chat will be muted for roughly 30 mins whilst we ask the pre-prepared questions. After this we will open up to questions from the Community for 15 mins or so. We will also enable “Slow Mode” for questions.
Welcome Eric Vogel, Zack Johnson, Lucy Morgan, and Alex Dolgov
Eric Vogel: Great to be here!
Alex Dolgov: Hello!
Zak Johnson: Morning all!
Lucy Morgan: Morning!
Jean-Marc Griffith: Excellent to have you all here to chat with the Launchpool Community, let’s jump right in. Please tell us a bit about yourself, your background and your involvement with the space?
Eric Vogel: I am originally from New York, and now living and working in London. I have been involved in the blockchain space since 2015, primarily as an investor backing different projects. I bring over 10+ years of experience developing and scaling multiple businesses. With a passion for technology and R&D, I have been involved in numerous development projects, including leading a private project with Google, a defence software platform that was presented to the US Government and driving the reverse vending machine program with Reborn. In addition, I have led a number of integrated advertising campaigns for a number of global brands.
Jean-Marc Griffith: That’s a really impressive background: 2015 was very early for the Crypto space. Could you tell us about the rest of the team?
Eric Vogel: Thanks, and sure thing.
Zak Johnson, Co-Founder: brings over 14 years of experience and a proven track record in leading global eCommerce platforms and developing manufacturing processes for SMEs and his other businesses, Naeco, LTD and Reborn Recycling. With a passion for sustainability, innovation and R&D, he has worked on numerous inventions and developments, including mobile recycling units, reverse vending machines and developing bespoke sustainable fabrics for Naeco via Reborn Recycling.
Alex Dolgov, Senior Blockchain Consultant: has over 10+ years of blockchain development and consulting experience, with a proven track record of launching multiple successful crypto assets and ecosystems within a wide range of technology, startups, tokenization, fundraising and financial reporting and analysis experience.
Mike Ramsay, Strategic Advisor: Mike brings over 30 years of experience in finance and investment management leadership. He moved into banking at Bank of Scotland and RBS, having first qualified as a chartered accountant. Subsequently, Mike established and led investment businesses at M&G, The Carlyle Group and Generation Investment Management, a boutique sustainability and advisory investment management platform.
Julian Curitis, Strategic Advisor: Julian is a seasoned finance professional with a career spanning 30 years in the City of London across corporate advisory, corporate and investment banking and fund management. Prior to co-founding Centennial, he was Partner at Generation Investment Management where he co-managed the $242m Global Credit Fund with Mike. He spent over a decade at Mizuho where he led the European Leveraged Finance team and closed over $25 billion of financing to 70 companies with 30 private equity funds. Julian is also a Chartered Accountant.
Olga Gryshkanych, Design: With over five years of experience in product design in e-sports, fintech, e-commerce and blockchain applications. She helps to take ideas from concept to life. Combining knowledge of user experience and user interaction design, along with marketing and business analysis leading to multiple successful applications.
Jean-Marc Griffith: Wow, that’s impressive. There is over 100 years of experience amongst your Team.
Eric Vogel: Helps to have some of the old-timers on board as well, thanks to Mike and Julian.
Jean-Marc Griffith: Having the right team in place is important to the success of any project. I’m glad to see Circularr has that!
What problem are you trying to solve? What is the overall vision for the Circularr Project?
Eric Vogel: Circularr is a sustainable blockchain ecosystem focused on the incubation and development of sustainable crypto-assets backed by recycled, sustainable commodities. The first asset will be backed by plastic recycling and the value of rPET plastic called Circular Plastic Coin or “$CIRP”. It was very important for us to look at how we could utilize blockchain technology in a real-world use case with our partners.
The $CIRP asset revolves around the development and launch of a decentralized recycling ecosystem to streamline interactions between consumers, organizations, recyclers, and brands by adding full transparency to the recycling process. This will help to decrease pollution levels, eliminate greenwashing and drive consumer behavioral change by commoditizing plastic waste. Our ambition is to help individuals and organizations treat plastic waste as a commodity instead of waste.
Jean-Marc Griffith: Lately, there has certainly been much focus on the sustainability of crypto projects with even Bitcoin being called into question for the amount of power needed to run Proof-of-Work. I’m excited that Circularr aims on being sustainable. This is needed.
Eric Vogel: Thank you, it definitely is.
Also, a reason why we put a lot of thought into what we ultimately build the asset on; in terms of energy consumption and pollution. Finding a sustainable blockchain was important for us to develop.
Jean-Marc Griffith: Great to hear this. In terms of Circularr, how are you differentiated from other similar projects?
Eric Voge: Our network allows for additional recyclers, brands, and partners to join the network allowing for it to expand. It is not restricted to one party, region, or closed ecosystems like our indirect competitors.
While there are competitors in the various elements that we provide in our ecosystem there is not a single competitor who provides the whole end-to-end solution. While there are other advertising solutions, traceability solutions, NFT, Authentication, reward, and gamification platforms there isn’t one ecosystem that does it all under one roof without relying on multiple platforms collaborating together.
Furthermore, unlike our indirect competitors we are not restricted by the following:
- Accessibility (being limited to a chain of businesses or a specific geographical location). Thus, restricting the market size and growth potential.
- Growth and expansion, due to our existing partnerships we are able to scale and grow the whole ecosystem quickly. Where our competitors would have to develop these partnerships or acquisitions in order to do so.
There has yet to be a solution out there that backs the ecosystem by the value of recycled plastic or other recycled commodities. The more plastic that is recycled within the ecosystem the more reserve we have to back the asset up. Token holders can at any time purchase rPET plastic from the NFT marketplace with their utility $CIRP tokens if they wish, and or own the rPET NFT to then sell to another party for $CIRP or other currencies.
In addition to the above our native crypto asset, $CIRP can be used in a number of ways including:
As a reward mechanic from all participating reverse vending machines (RVM’s) to consumers.
As a sustainable currency to be utilized on Circularr’s NFT marketplace. As our $CIRP utility asset can be swapped for recycled plastic NFT’s.
As a currency that can be utilized at the point of purchase for goods and services at the time of purchase.
Used to stake on participating RVM’s to earn a % APY return via the revenue from advertising within the machine.
Jean-Marc Griffith: I was wondering about that as I don’t know of any other projects that cover such a large scope.
Eric Vogel: We have been quite fortunate through our partnership with Naeco/Reborn which has unlocked access to some fantastic clients and partnerships.
Including the likes of IHG, Hilton Hotel Group, Natwest/RBS via a RVM pilot program that we are rolling out with Reborn, and a few sovereign governments for larger recycling rollouts.
Jean-Marc Griffith: Very interesting. Where are you at in your roadmap? Could you please talk us through the next steps.
Eric Vogel: Of course.
We have quite a few areas of the ecosystem actively being worked on. I will put together some information on the roadmap for Circularr and the various partnerships and discussions we have been having with the final decision-makers here:
Stage 1: Platform Development
The following items are completed so far:
● Wallet for Reverse Vending Machines (RVMs), mobile wallets for users, recyclers’ wallets with centralized controls (with control interface for organizations), wallet for partners, and minimum partner wallet API to further expand 3rd party wallet and exchange integrations. We are now actively recruiting and bringing on new brand and client partners for the rewards within the application.
● Exchange platform for internal trading. The Exchange platform will provide internal circulation of tokens within the Circular ecosystem. This is done from an initial level allowing us to issue and move the tokens around between users, RVMs, recyclers, etc. The various ecosystem participants as per our white paper.
● Token design. To empower the Circularr blockchain with its own-backed Plastic token, is where we will further develop the tokens characteristics and functions on the network. The MVP of the token design and economics is now complete, we are continuing to expand upon this for future use such as the NFT market place etc.
The following items are still in progress per the Stage 1 of our Roadmap
● Track and Trace system — this is in the final stages and testing now, we are due to go to the sandbox environment and final testing, which we expect to be completed and rolled out in Q3/Q4 2022.
● Advertising network & platform, initial stages and promotions within the native wallets. We have secured an advertising partner, in the UK, who we are going through a final heads of terms (HoT) with now. They will bring in a network of advertisers and look to roll out RVM’s with Reborn/Circularr and our rewards application across all the motorway service stations in the United Kingdom.
With 6.3m customers stopping by the stations weekly with an average dwell time of 41 minutes. This will start with a minimum commitment of 150+ RVMs. It also includes a revenue share of the advertising, for a 10+ year partnership along with the use of our native apps and rewards thus further driving the use case of the $CIRP tokens. They will also provide advertisers and run the ad networks for Circularr. Which is due to be completed by Q4 2022. With the roll out plan to start with the advertising partner in the UK thereafter in Q1 2023.
Jean-Marc Griffith: I like what I’m seeing in Stage 1
Eric Vogel: In regards to the second Stage 2 of our roadmap the following items are in progress:
Stage 2
● Self-serve advertising integration — Brands and organizations will be able to pay and launch advertising campaigns on RVMs and within our native wallet/app via the bespoke bidding platform similar to that of popular ad networks. Dynamic content will be served on touchscreens on the front of the machine.
● Preparation for centralized exchange listing — we have been speaking with a FCA regulated exchange and a well-known retail exchange that will derive liquidity from the institutional exchange and act as on and off ramp to allow users to purchase and swap Circularr Plastic Coin ($CIRP) for fiat currencies or other crypto assets within our application.
In regards to Stage 3 of our roadmap the following items are in progress:
● Commoditizing the recycled plastic via NFT’s — holding all traceability data for the recycled plastic to make up 250kg, 500kg, or 1 metric tonne of plastic. Allowing organizations and individuals to purchase rPET plastic to utilize or invest in sustainable assets. Which can then be either held and traded on our NFT marketplace or used if a purchaser wishes to use the tracked and traced plastic within their manufacturing or production processes.
● Launch of rPET exchange/marketplace — for organizations, and individuals to buy and sell fully traceable rPET plastics.
● Charity integration — Development of an open API for charity organizations in order to allow users to send their tokens to environmental and charitable organizations directly from our native wallet/app (Android/iOS) or directly from our RVM network.
Lastly in regards to Stage 4, we are focusing more on Gamification which we will be tying into our native apps and the RVM network.
Stage 4
● A game engine development for Users on the native Android/iOS apps and on the RVM interface, where brands can launch mini games for users to reward them with tokens, prizes and other merchandise.
As well as further partnerships and integration with other networks.
Thank you, it has helped us understanding the needs and demands of the various partners we have been speaking with as well.
Jean-Marc Griffith: Seems things are well planned out. It’s great to see a project with such a focus on real world impact. Maybe one day a Netflix Documentary 🎥 would be made about Circularr that covers this journey in detail.
Eric Vogel: Would be great to have a Netflix Documentary, definitely something that has crossed our minds.
Jean-Marc Griffith: It would definitely make for a great documentary. The impact of what Circularr aims to accomplish will be felt throughout the globe!
Eric Vogel: Definitely, and the big key for us is empowering everyone to work together to accomplish this.
Jean-Marc Griffith: How was the project funded up to this point? How will the funds from the pre-IDO be used?
Eric Vogel: The project has been funded by co-founder funds and seed capital from Mike Ramsay and Julian Curtis. Ramsay and Curtis have an extensive career in the financial sector and ran Generation investment in the UK which is Al Gores $Bn sustainable investment fund. Their knowledge of not only finance but also the sustainability landscape is instrumental in carving the future of Circularr and our growth.
Back in 2018 both Ramsay and Curtis were among the investment pool in Zak Johnson’s company Reborn which is the plastic recycling company and sustainable uniform business converting recycled plastic to yarns that we have partnered with.
The funds from the pre-IDO will be utilized to ramp up the development timeline to allow us to capitalize on some immediate opportunities with partners in North America and the UK.
Jean-Marc Griffith: Are there any strategic partners (excluding Launchpool) that you can share?
Eric Vogel: Sure thing, we will have a few more dropping soon. One of the recent and exciting ones that we will be doing a more formal announcement soon is VMI:
We will be working with them to integrate our native asset. As well as for our native wallets to power their machines. They have also approached us to have us launch our advertising network across all of their screens. Which will drive further growth through the network. Working with them will also open further markets in various countries for us to deploy reverse vending machines and expand the wider network.
NatWest/RBS — Via our partnership with Reborn we are launching an RVM pilot in the UK initially across various high street and transport locations. This has the potential to lead to a much wider rollout upon a successful pilot. Which we hope will help pave the way to us being a part of the UK’s deposit return scheme as well.
iMedia — Which we are bringing on as our advertising partner for the ad network to run across our native Android/iOS applications as well as via the RVM network. This will allow us to drive ad revenue and empower staking on select RVM’s from day one. While also providing further rewards and incentives via our token and native wallets. As part of the partnership, we are aiming to deploy RVM’s across all motorway service stations in the UK. All of which would be powered by Circularr and reward users with our native $CIRP tokens.
Reborn:
Reborn has given us access to a diverse and large client base including but not limited to Hilton Hotels, IHG, NatWest, Aramco, and a number of sporting events. As well as larger infrastructure projects in Australia, Singapore, and North America. This partnership was instrumental for us to have a Sandbox testbed environment to roll out and develop the ecosystem. Reborn is also the manufacture of the RVM’s forwhich we provide the technology.
A government contract to supply a pilot program for the RVM’s and Circularr to look at how we can potentially integrate into the wider deposit return scheme.
Jean-Marc Griffith: That’s a great list of strategic partners. Can I also ask, what made you choose Launchpool as your launchpad partner for the AME?
Eric Vogel: We have been working with Archax (a global cryptocurrency and regulated asset digital ecosystem) to look at launching the $CIRP asset to its institutional users. During this process Launchpool was recommended as a great platform to use to drive awareness of our project and reward early adopters ahead of looking at launching via Archax and/or other exchanges.
Jean-Marc Griffith: Thank you for that. We owe our success to our loyal Community members. In terms of this offer, what is the total allocation you’ve set aside for the Launchpool community? Are there any limitations or is the Allocation Mining Event open to everyone? Please list any countries that are excluded from the allocation event due to regulatory reasons.
Eric Vogel: We have set aside 30,000,000$CIRP. This AME offer is open to everyone that is KYC’ed through Launchpool
As for the list of excluded countries:
• United States of America
• Albania
• Botswana
• Burkina Faso
• Cambodia
•Canada
• China
• Democratic Republic of the Congo
• Ethiopia
• Germany
• Ghana
• Iran
• Mauritius
• Morocco
• Myanmar
• Nicaragua
• North Korea
• Pakistan
• Panama
• Senegal
• Seychelles
• Sri Lanka
• Syrian Arab Republic
• Tunisia
• Uganda
• Yemen
- Zimbabwe
Jean-Marc Griffith: Excellent. What happens after the AME? Could you talk us through the tokenomics: total supply, initial circulating supply, initial market cap, initial vesting, total vesting period, etc.
Eric Vogel: The total token supply is 8,300,000,000 $CIRP. This is issued in line with the total metric tonnes of plastic that exist on the earth.
In terms of the tokenomics, it is focused on two private rounds followed by a public sale and then exchange listings.
The initial circulating supply during the private rounds and initial listing is 153,550,000.
Our initial market cap on TGE is $429,940.
The first private round will be for a total of 415,000,000 $CIRP tokens (or 5% of the total token allocation). At a sale price of $0.005 USD per token. Part of this private round will be done via Launchpool.
Vesting terms: 5% at TGE, remainder vested over 12 months.
The second private round will be for a total of 747,000,000 $CIRP tokens (or 9% of the total token allocation). At a sale price of $0.0075 USD per token.
Following the same vesting terms as above.
This will then be followed by exchange listings where the market and listing agreements will determine the token floatation price and when vested tokens during the private rounds can be freely traded. We are already in negotiations with a few CEX exchanges at the moment. Our plan is to look at listing on at least one CEX by the end of Q3 2022.
The remaining 85% (7,055,000,000 $CIRP) is broken down as follows:
Core Team/Employees 4% (332,000,000 $CIRP): which is for the initial team members as the team grows and is vested with a 3-month cliff and a 24 month vesting period on tokens allocated to team members.
Advisors 5% (415,000,000 $CIRP): which is reserved to be utilized to recruit and bring on advisors and board members to Circularr that will serve a strategic partnership or purpose to drive the company. IE). Securing advisors from FTSE100/500 organizations etc. To bring key strategic advice and partners to the table. These will be distributed upon key hires with a 2-month cliff and a 24-month vesting period.
Marketing 1% (83,000,000 $CIRP): will be used as promotional assets to reward users on the network as we grow. This will be subject to a 2-month cliff and 24-month vesting period so these will be utilized over a 26-month period.
Liquidity 3% (249,000,000 $CIRP): Which will be used with our initial exchange partners to derive initial liquidity into the marketplace.
Community Incentives 12% (996,000,000 $CIRP): Which will be reserved for airdrops, bug bounty programs, and rewards for the Circularr community. This will be subject to a 2-month cliff and 24-month vesting period.
Ecosystem Development 60% (4,980,000,000 $CIRP): With this we have a 36-month cliff (giving us the time to roll out the larger infrastructure projects with our partners in the sovereign governments we are speaking to now with Reborn for the infrastructure development and partnerships in: Australia, Singapore, UK and US, etc. These tokens would not be sold on the open market but would be preloaded into RVM’s in the territory or agreed in principle for distribution with the local government to integrate the deposit return schemes providing further backing behind the asset, or with recycling partners in the specific territory into the Circularr ecosystem thus benefiting all token holders.
If for any reason we were delayed or did not deploy infrastructure or additional RVMs in a new territory or network in a given month when the ecosystem fund reaches its cliff we would re-escrow the month’s tokens that were not deployed to RVMs or to a sovereign nation and add it to the end of the vesting period. IE). If month 37 we were not ready to go we would deploy those tokens back to Escrow for release in month 60 and so forth.
Jean-Marc Griffith: The re-escrow is quite interesting.
Eric Vogel: Definitely, it was something we always wanted to ensure that we never flood the market with tokens, and that the value is created for the ecosystem as further infrastructure and relationships are developed i.e. Securing a deposit return scheme in a new country.
Jean-Marc Griffith: I see, it makes sense to have this.
As you’ve mentioned tokens, what are the use cases for the token? Do you have any mechanisms planned to support the DeFi component?
Eric Vogel:
1). Drive Deposit Return Scheme and incentivize users to use the reverse vending machines and other collection points on the network with our recycling partners.
2). Allow users to swap the tokens for brand and partner rewards in the native Android and iOS wallets.
3). Allow users to spend the tokens like currency at participating merchant partners.
4). Purchase of rPET NFT’s and other sustainable NFT’s (rPET Pellet, garments, textiles, merchandise from the NFT marketplace).
5). Staking of $CIRP on reverse vending machines allowing the staker to receive APY via advertising revenue of the selected RVM’s
They will also be used by organizations and recyclers to:
1). Track and trace plastic
2). Purchase plastic from the rPET NFT market place or future contracts of rPET plastic from Circularr’s network.
3). Future speculation on the price of the token (as it is backed by recycled plastic) commodities the recycled plastic.
Jean-Marc Griffith: I love how much utility there is for the token.
Eric Vogel: Thank you.
Jean-Marc Griffith: Here’s my final question, where can we join your Community?
Eric Vogel:
Web:
Discord:
Linkedin:
Twitter:
Jean-Marc Griffith: Eric Vogel thanks for taking the time to answer my questions today.
I will now open up the Community to questions from the floor and hand over this segment to Mickie Ann Perez. Please be reminded that we have “Slow Mode” enabled and will only be answering questions related to Circularr. Any other questions can be answered in our 24hr dedicated Support Chat
The Floor is Now Open❗
Questions from the Launchpool Community
Mickie Ann Perez: Hello LPOOLers and once again, welcome to the community, Eric Vogel.
Question: Can you tell us what is the main role of your token in the ecosystem? Explain its Utilities & Real-life use cases and why should I invest in your project for long term?
Alex Dolgov: The token will be used for buying and selling recycled plastic through a network of reverse vending machines, recycling partners and brands. It will also serve as a loyalty token, as well as a payment token for advertisements on the RVMs.
Question: Can the NFTs in your platform be traded in other NFT marketplaces?
Alex Dolgov: Possible, however, they will be highly specialized.
Question: What are the benefits of having Archax getting involved?
Eric Vogel: In regards to Archax the main reason for this was the institutional access and FCA regulation. Which allows us to work with some of the larger corporate partners, and sovereign governments who want to explore rolling out the RVM’s, tokens, and deposit return schemes. This also then allows some of our banking partners to get involved in trading and utilizing the tokens via partnerships as well. As they are required to work with a regulated exchange. Outside of this we are talking to a few top 15 CEX exchanges as well, and are aiming to have at least one additional one on board for Q3 2022.
Question: I’ll like to get more information about rPet NFTs
Zak Johnson: Hey, the main role of the rPET NFT Marketplace is to have a marketplace where plastics can be validated. We found that in the recycling industry there was very little proof of exactly where plastics come from. This plastic validation is so important as rPET is more expensive per tonne which could lead companies to sell illegitimate virgin plastics as rPET
Our clients at Reborn want to know that their 1m cups are recycled (when and where) then we can show them exactly which fabrics it produced and even the end garment it goes into.
The other aspect of the rPET NFT’s is that we are able to then sell these 1 tonne bags with full traceability for plastic manufacturing like cups, bottles and other products.
It also allows holders to swap the $CIRP tokens for rPET NFT’s to either digitally or physically own the rPET plastic. Very similar to how one would trade Gold, Silver, Platinum. It also provides an underlying backing for the ecosystem based on the market value of plastic. Providing an asset backed ecosystem.
Question: In the long term… What’s the plan.
Zak Johnson: We have the overview roadmap in our Discord but we will be providing a more in-depth version there too. Our long-term vision is working and aligning with strategic partners, brands, and recyclers to drive token use and adoption. We have been working with 3 major recyclers in the UK, 1 US recycler, and 1 in AUS on strategic partnerships which we hope to be able to announce soon.
The RVM use of the $CIRP has huge benefits as it rewards consumers and really drives consumer behavioral change by giving consumers value for their recycled plastic.
The long-term vision for me personally is to create a sustainable ecosystem that not only drives change but generates income for people.
Question: What’s the expected date of TGE.
Eric Vogel: Great question, the TGE is ready now and we are working with Launchpool for the pre-IDO. We are already in discussions with exchanges to then subsequently list the asset in Q3 2022. We wanted to open up the ability for the Launchpool Community to get in early before these listings, along with our other partnerships. As tokens are vested you can freely trade them. However, I would like to think with the use case, the value or rPET plastic and the demand that there is a reason to hold for a longer-term. Not to mention the ability to stake on the RVM network.
Question: I really like this project a lot…mostly for the sustainable approach. When are you launching the tokens?
Zak Johnson: Thanks — The private sale is live now. We are aiming to go live with a public launch in Q3 in line with at least one CEX.
Jean-Marc Griffith: If the Community has any more questions or if it’s unanswered here, please hop over to the Circularr’s Community to have it answered there.
Again, thank you Eric, Zack, Alex, and Lucy for your time in sharing all the info and we can’t wait for what’s ahead.
Eric Vogel: Thanks for having us!
Jean-Marc Griffith: Thanks to everyone that participated!
This will be the end of our AMA.
About Circularr
Circularr is a sustainable blockchain ecosystem focused on the incubation and development of sustainable crypto assets backed by recycled sustainable commodities.
About Launchpool
Launchpool leverages communities, knowledge, expertise, contacts and capital to provide crypto projects with the best possible start to life, maximising their chances for success in this fast moving & dynamic space.
