Launchpool AMA Recap — CoinBurp
Date & Time: May 27th, 1PM UTC.
Guests: Pete Woods CEO of Coinburp.
Host: Marilena Egitto, Social Media Lead, at Launchpool.
Launchpool was excited to host Pete Woods (CEO), of Coinburp for an interactive Ask Me Anything session with the Launchpool Community. The AMA comes in anticipation of Coinburp’s $250k Allocation Mining Event on the Launchpool launchpad. The session lasted for 1hr, and consisted of questions from Launchpool Team and questions from the community “on the spot”.
Questions from the Launchpool Team
Marilena Egitto: Morning everyone, Or good afternoon/ evening depending on where you are right now. We are excited to have today a one of a kind AMA — pleasure to have today with us Pete Woods (CEO) of CoinBurp.
Coinburp, aka the Coinbase for NFTs, is bridging the worlds of CeFi, DeFi and NFTs in one single, accessible and secure platform. They chose Launchpool as PRE-IDO platform, and we are very much looking forward to the upcoming $BURP #AME, starting on May 31. Welcome.
Pete Woods: Hey everyone — thanks for having me, great to be here.
Marilena Egitto: Let’s get started Pete, please tell us a bit about yourself, about the project & team, and your involvement within the Crypto and NFTs spaces.
Pete Woods: Hey everyone, I’m Pete, CEO of CoinBurp, a UK based cryptocurrency exchange. My journey started 7 years ago when I started my first cryptocurrency business as a brokerage on P2P platforms. We bought and sold Bitcoin on Localbitcoins.com and I quickly grew this business from nothing to one turning over £100M by 2017. We are (and have been for several years) the #1 cryptocurrency brokerages on these P2P platforms.
We have been active since 2018 under the CoinBurp name — and we’ve been following on from the success! CoinBurp is currently the #1 cryptocurrency exchange according to TrustPilot UK. We are now building ‘Coinbase for NFTs’, a custodial DeFi NFT service where our customers can buy NFTs for fiat from marketplaces like OpenSea. We also plan to integrate more DeFi protocols for users to easily access via our app.
Marilena Egitto: What makes your project unique, and what’s the project’s vision to bring upon a turning page in the cryptoverse?
Pete Woods: We are the only project capable of being that one-stop-shop for retail users wanting to access DeFi. Any other project attempting to achieve what we’re doing are often re-directing their users to external providers, such as payment processors. We can do EVERYTHING in house, and without a middleman, the cost savings can be passed to our customers. Ease of use for our customers is one of the most important key drivers when creating any product (especially in crypto!). The DeFi space is going to be revolutionary, but unfortunately the knowledge on-ramp is quite steep for noobs — our mission is to make the complicated look simple, check out our roadmap to find out what to expect.
Marilena Egitto: I couldn’t agree more. We’ll return later on the roadmap and dig deeper on prod development. By now, what made you choose Launchpool as your launchpad partner for the AME?
Pete Woods: When I spoke to the team, the fact you are all about egalitarian investing is something that’s close to my heart. Launchpool of course also has an amazing track record in this space, so the decision was quite easy.
Marilena Egitto: Yeah, we felt good alignment of values in that sense. Really good to hear it was mutual!
Marilena Egitto: Now let’s dive into the Allocation Mining Event : What is the total allocation you’ve set aside for the LP community? Are there any KYC / AML limitations or is the AME open to everyone? Any countries that are excluded from the allocation event due to regulatory reasons?
Pete Woods: The total allocation for Launchpool is $250k worth of tokens. We unfortunately will not be able to allow customers from any of these countries due to regulatory reasons:
Albania, Barbados, Botswana, Cambodia, Cuba, Democratic People’s Republic of Korea, Democratic Republic of the Congo, Ghana, Jamaica, Iraq, Iran, Mauritius, Myanmar, Libya, Pakistan, Nicaragua, Panama, the Russian Federation, Somalia, South Sudan, Sudan, Syria, the People’s Republic of China (excluding the Hong Kong Special Administrative Area), Trinidad and Tobago, Uganda, the United States of America, Vanuatu, Yemen and Zimbabwe.
Marilena Egitto: Since we talked about the AME values… What happens after the Allocation Mining Event? Walk us a bit through the tokenomics: total supply, initial circulating supply, initial market cap, initial vesting, total vesting period (from launch until when will the last token be vested for), etc.
Pete Woods: We’ll be launching the token in full via the public sale just over a month from now. Our $BURP token ‘may’ be listed on the #1 IDO platform and an IEO platform at the same time. Our initial use case is that you will need to stake $BURP to earn rewards such as an APY and enter our one-of-a-kind NFT raffle! We have teamed up with Sandbox, Avastars, and NFT Boxes, who are giving us exclusive limited-edition NFTs as prizes but more and more partners are coming on-board every day. That’s just the start, on top of this users can also earn $BURP as we’ll be distributing 20% of our fees to $BURP stakers to ensure sustainability and keep it evolving for years to come. Here’s a quick breakdown of our tokenomics going forward:
500 million maximum supply to be reached by 2028
47% of these will reach end-users
11% to early backers and advisors
17% to private rounds
25% to be retained by the team
Marilena Egitto: The community being a centric aspect for Coinburp too. As we are indeed talking about this: Where does your community live? Where can we find you?
Pete Woods: We’re thankful to have such a dedicated and interactive community that loves crypto as much as us. You can usually find them hanging out on our Discord or Telegram.
Discord — https://discord.gg/rfgQrgcf
Telegram — https://linktr.ee/CoinBurpInternational
Our community is growing everyday, and we’re so overwhelmed with all the amazing support. Our Telegrams are going global! Russian, Japanese, Turkish and Korean channels are out there for anyone who wants to join.
Marilena Egitto: That’s great! I also saw you Twitter channel being pretty active: https://twitter.com/coinburp
Pete Woods: Yep it’s getting quite busy in there.
Marilena Egitto: Pretty fun channel I’ve to admit, what led you to chose “CoinBurp”? What’s the origin of the name?
Pete Woods: We wanted something which represented our team — something a bit fun and friendly, and of course there was lots to play with visually on our graphics! It also helps that it’s extremely unique, so hopefully everyone remembers us.
Marilena Egitto: I’d say mission accomplished, indeed a very fun name and easy to remember. Moving back to the roadmap mentioned before: Please share more on the development, milestones etc. What’s Completed? What’s In Progress? What’s Scheduled?
Pete Woods: 2021 is a huge year for us, we’ve already completed so much but there’s still a long way to go 👀
Here’s our roadmap for this year — https://imgur.com/KInlmuz
What we’ve completed:
What’s in progress:
We’ve got a massive update, available late June/early July, that will completely change the way NFTs are purchased and stored:
Our integration with OpenSea will allow users to purchase and store NFTs from the largest NFT marketplace.
For the first time ever, users will be able to purchase NFTs with FIAT (GBP/EUR), allowing people of all technical levels to purchase NFTs
And the big one’s $BURP, our own native token. You can find out everything about it here — https://coinburp.medium.com/introducing-burp-e6542b7f7a9f
Later in the year, we hope to integrate with more leading marketplaces, popular games, and digital art galleries and auction houses. In Q3 and Q4 of this year, we’ll offer multi-chain support, more FIAT payment gateways, a web version to complement the mobile app, and many more!
Marilena Egitto: Great! Any strategic partners (aside from LP) that you can share? Who is helping with the Audit?
Pete Woods: Our first NFT partners include: The Sandbox, NFT Boxes and Avastars.
The Sandbox is an ambitious project where users can build, create and monetise their works within a living, breathing video game world. With its own creation hub, marketplace and game maker, ‘The Sandbox’ is a virtual playground for gamers and NFT collectors alike. NFT Boxes is a platform through which users can purchase an assortment of amazing NFTs. Every month, NFT pioneer ‘Pranksy’ carefully curates a selection of around 10 extraordinary NFTs. And finally Avastars are individually unique digital avatars arranged from an assortment of 614 “Traits’, with each being made up of 12 layers of high-quality artwork. We hope to continue striking partnerships with exciting projects throughout the course of the next year. We are going to have our Smart Contract audits with both Bramah Systems and Hashex.
Marilena Egitto: We are approaching the end of the hour so will ask you only few more questions about funding and then open the stage. How will the funds be used? How was the project funded until the AME?
Pete Woods: Our dreams are big, and the funding we have raised helps improve our service, provide vital connections and partnerships in the crypto space, and help us to complete our ambitious roadmap (with $BURP token, fiat on and off ramps and CoinBurp CookOff! game all coming by EOY). We joined the Outlier Ventures accelerator in January to build ‘Coinbase for NFTs’ — an NFT-first crypto wallet connecting the worlds of CeFi to DeFi. To date, we have now raised $5m in private rounds, and have had over $30m worth of interest in our raise! It’s also worth mentioning that until us jumping into DeFi — we were fully self-funded and with a growing revenue stream, as CoinBurp as been trading as a crypto exchange for quite a while now and with over 30,000 users.
Marilena Egitto: What is the expected cap at TGE? How do you expect your token to gain value over time, any mechanisms to support the DeFi component (staking, burning, earning, spending, others)?
Pete Woods: We expect the initial cap at TGE to be $4M. The $BURP token is going to be highly functional and very rewarding. The broader the use-case, the better the asset, which is why $BURP token can be staked, used for DAO governance, provide holders with the chance to win exclusive NFTs from our partners, and much more. $BURP holders will be able to stake their tokens in the CoinBurp Non-Custodial NFT Wallet, allowing users to generate APY for staking, as well as becoming eligible for the CoinBurp NFT raffles. 20% of our fees are going to be redistributed back to the holders as $BURPBack and the token will also have utility within our existing exchange, not just on the DeFi side. With all this in mind we’re certain for $BURP to take off.
Marilena Egitto: We are 100% with you on this! Pete, thank you so much for your answers and for sharing with you your future plans. We will now open to the floor.
Pete Woods: Thanks for having me — I really enjoyed this one!
Questions from the Launchpool Community
CryptoGokuuu: One question, I noticed that Coinburp has made it into Coinlist seed, any details on that?
Pete Woods: We were invited onto the CoinList Programme to pitch to their private investors — the result was CoinBurp receiving the most interest from these investors from all the projects, totalling $4M — this shows the sheer volume of interest privately and I’m confident this will be reflected in our public sale too.
CryptoGokuuu: That’s great, really looking forward to this one, a lot of people are talking about it.
Marilena Egitto: Good, If we don’t have any other questions — and we are also a bit over time — I’d propose to close here the AMA session. Thank you Pete and the CoinBurp team for being with us today!
We will announce when the staking is open for the token $CPHR #AME.
Pete Woods: Cheers everyone!
CoinBurp ($BURP) is a CeFi wallet (Coinbase) with an integrated DeFi wallet that allows access to DeFi protocols (Argent, MetaMask) with fiat-on ramps, which allows direct NFT purchasing and buying from marketplaces such as OpenSea and Rarible.
Launchpool ($LPOOL) 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.