Launchpool AMA Recap — Cryptocurrencies.AI $CCAI
Place: Launchpool Official Telegram Community
Date & Time: May 13th, 2PM UTC
Guests: Hisham Khan CEO & Founder at Cryptocurrencies.Ai
Host: Roxana, Head of Community, Social, and Outreach, at Launchpool.
Launchpool was excited to host Hisham Khan, CEO and Founder at Cryptocurrencies.Ai for an interactive Ask Me Anything session with the Launchpool Community. The AMA comes in anticipation of CCAI’s $500k Allocation Mining Event on the Launchpool pre-IDO launchpad.
The session lasted for 1hr, and consisted of questions from Launchpool Team and questions from the community.
Questions from the Launchpool Team
Roxana: Hi everyone. We have with us today Hisham Khan from CCAI, a much awaited Solana project that will have an Allocation Mining Event with Launchpool. Great to have you with us, Hisham. Please tell us a bit about yourself, about the project & team, and your involvement with the space.
Hisham: Sure, I am Hisham Khan the CEO & Co-founder of CCAI. I have been a product builder for 10 years, working at various fortune 500 companies as a Product manager where I was involved in building enterprise software. This led me to Bloomberg eventually where I got into the financial technology industry. I discovered crypto in early 2017 and became a long term believer instantly. I left Bloomberg and have been working in this industry ever since.
Roxana: What makes your project unique, and what’s the project’s vision?
Hisham: Cryptocurrencies.Ai is a next generation exchange offering CeFi and DeFi within one platform, with a full suite of trading products so users don’t have to use multiple exchanges and trade their capital efficiently.
Roxana: We can spot a bit of the Bloomberg exposure in this.
Hisham: For sure, I get lots of inspiration from Bloomberg. A trader can trade 125x Futures on our Centralized exchange and then easily move funds to our Solana wallet where they can trade on our DEX which is built on Solana, the world’s fastest and cheapest blockchain. Traders can put their capital to work by trading on our Centralized exchange or using our DeFi products which will include pools and yield farming in the near future. We also offer many innovative features to make advanced trading easy like our Smart trading.
Roxana: What made you choose Launchpool as your launchpad partner for the AME?
Hisham: We’re really excited to work with Launchpool because it is a great way for retail investors to get in at the same level as VC’s and other funds. This was something we wanted to get involved with for the community.
Roxana: Thank you for the kind words. We try our best to deliver egalitarian opportunities, even when gas fees are working against us. What is the total allocation you’ve set aside for the Launchpool community? Are there any KYC / AML limitations or is the AME open to everyone? Please list any countries that are excluded from the allocation event due to regulatory reasons.
Hisham: Yes and it aligns really well with what we hope to achieve with our product since we’re launching more advanced yet easy to use trading tools for the retail trader. Total allocation for Launchpool is $500k.
There are certainly limitations due to KYC/AML as we take compliance seriously. Here are the countries which are prohibited from participating in the CCAI token allocation: USA, Afghanistan, Canada, Cuba, Iran, Iraq, N Korea, Libya, South Sudan, Sudan, Syria, Crimea, Yemen.
Roxana: Alignment with our partners is something we strive for. Thank you for the transparency. We know it’s not easy, but not following regulatory processes, can lead to more damage further down the line for the community, the project, and its partners.
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.
And since we’re at it, maybe it’s a good time to communicate that for CCAI, the raise will likely be in USDC, not ETH. We’ve already got a taste of CCAI with a $20k allocation PuP.
Hisham: Sure:
- Total supply: 50,000,000
- Initial supply including liquidity: 1.3 million
- Total vesting period: 4 years
- Launchpool vesting: 5 months
- Private and Seed round vesting: 6 months
- Team: locked for a year then vest for 3 years
- Raise in USDC
Most tokens will be locked up at launch and unlock slowly over 4 years. We’ll be announcing our launchpad platform SOON and we think the community will be very pleased. IDO mcap will be $1.6m plus the liquidity we provide on DEX’s (still finalizing this piece). And we have a special deal for Launchpoolers! Your allocation will vest over 5 months instead of 6 (which is what the rest of the private sale gets).
Roxana: We love this. Thank you for offering us all the details. Where does the CCAI community live? Where can we find you (social, web). We saw a lot of excitement this morning on Twitter, btw.
Hisham: Yes, our community has been growing and there is lots of excitement. Here are some of the channels where you can follow us closely:
- Telegram: https://t.me/CCAI_Official
- Twitter: https://twitter.com/CCAI_Official
- My personal twitter: https://twitter.com/Hisham_CCAI
- Youtube: https://www.youtube.com/channel/UCyUM72zWism4-LdA2J4bwew
Roxana: CCAI receiving a lot of support from the Solana community too. Any upcoming conferences or Youtube shows that you can share with us?
Hisham: We’re planning to be at the Bitcoin conference in Miami in early June after a long period of lockdown. There are some Youtube shows getting scheduled as we speak with some of the best channels in crypto. We will be sharing it with our community as these come out in the near future.
Roxana: Please keep us in the loop! Can you share more on the development & product roadmap, milestones etc. What’s Completed? What’s In Progress? What’s Scheduled?
Hisham: Sure, the CCAI Wallet and DEX which are both built on Solana are live already and I encourage everyone to try it and experience the speed of our DEX for themselves. It is truly a game changer and feels like you’re trading on a CEX. We are planning to launch the CCAI CEX with Smart trading in Q2 or early Q3 the date is not finalized yet. Beyond this, we are working on some interesting DeFi products on Solana which we will be announcing in the near future and are kind of a surprise at this moment.
Roxana: Sounds exciting! We’ve been full of surprises ourselves at Launchpool, so we understand the mystery around #comingsoon releases and products. Any strategic partners (aside from LP) that you can share? Who is helping with the Audit?
Hisham: Yes, we have Binance as our liquidity partner for the CEX and we have also partnered with Serum which is an amazing project on Solana, built by the team at Alameda/FTX. We use the Serum order matching technology as part of our CCAI DEX. Our audit is being done by the firm Kudelski security which is the main auditor for most of the Solana smart contracts.
Roxana: How will the funds be used? How was the project funded until the AME?
Hisham: We had mostly bootstrapped the company through the bear market as we spent our time focusing on building the technology. The funds will be used:
65%: Product development.
35%: Brand growth.
5%: Legal and misc.
Roxana: As they say, what doesn’t kill you makes you stronger. We have mad respect for the projects that thrive through a bear market, we know it can be brutal. 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)?
Hisham: Yes definitely! We are long term believers and so our goal was to build no matter if it is the bear or the bull market. Mcap will be $1.6m plus the liquidity. The CCAI token is unique such that it will be integrated in our CEX and DEX. There will be details coming out about the use cases for the CCAI token soon but the plan is for it to be a combination of how FTT and Sushi tokens work for instance. It will be the first such token that I am aware of which will be covering both a CEX and a DEX, this allows to build lots of utility for the token in the future.
Roxana: We’ll be all eyes and ears on upcoming announcements and explainers on the token utility. We will now begin with pre-screened questions from the community, with a shout-out at the end to the members who sent us questions in advance. After that, we open the floor for live live questions!
“On the Spot” Questions from LP Community
Only TY asks: Can you explain your liquidation approach for leverage trading?
Hisham: It is a bit long for us to explain in the chat here but the liquidation on CCAI will work similar to how it works on Binance. For reference I am sharing an article from Binance which covers this in detail:
Skullcrypt asks: Why did you choose to build on Solana rather than, say, Harmony. Is it driven by the advantages of Proof of History in combination with Proof of Stake and also relatively quick transaction speed — up 710k transactions/second on a 1gbit/sec network?
Hisham: When we learned about Solana it was the summer of last year. We were one of the earliest teams to look at opportunities and realized that Solana offered something special and it was designed for trading products due to the speed and low cost. Seeing other strong teams and leaders like Sam from FTX building on Solana was a really bullish signal about the future of this chain. We believe that the future will be multi-chain as we can all see and there is no reason why we couldn’t build products on other chains as well down the road but at this moment our focus is to capitalize the early mover advantage we have in the Solana ecosystem.
The Defi Guru asks: Aside from being on Solana, how is CCAI different from Unizen?
Hisham: I am not too familiar with Unizen but our Smart trading on the CCAI CEX which provides an advanced yet easy to use trading terminal is unique and first of its kind in the crypto exchange industry. Additionally CCAI plans to bring together CeFi and DeFi so a trader doesn’t have to use many exchanges and they can easily navigate between the CCAI CEX and DEX depending on where they identify opportunities for their capital.
Roxana: Crypto industry still heavily relies on early-mover advantage, congratulations for spotting the technological opportunity before Solana became a hot topic. Unizen was our first AME on Launchpool, and $LPOOL token holders saw a 133x return at ATH.
Dexta Dapps asks: What is the total Pool allocation in ETH for the Cryptocurrencies.ai IDO? Is it 50 ETH, 250ETH or other?
Hisham: This is being finalized and the IDO details will be coming out any moment. Please follow our social media channels to keep up to date on the IDO:
- Telegram: https://t.me/CCAI_Official
- Twitter: https://twitter.com/CCAI_Official
- My personal twitter: https://twitter.com/Hisham_CCAI
Hi LvL Trader asks: How will having your exchange on Solana work, will we need to trade on the DEX?
Hisham: Good question. At the time of launch there will be a Uniswap pool for those who have the ERC-20 version of CCAI and there will also be trading available on the CCAI DEX which will be in the native Solana token of CCAI. There is a bridge between Solana and Ethereum which we will be releasing an interface for soon and anyone can move their CCAI between Solana and Ethereum.
Chessdude asks: Most people are used to using Metamask as their wallet. How will you mitigate the risk people will be turned off by the necessity to create a new wallet on your DEX?” “I like your trading screen on the website. How will it work for people who have a regular size 14'’ laptop screen like me?
Hisham: The Solana wallet built by CCAI is one of the most user friendly wallets in the Solana ecosystem. We want to make it as easy as possible to get the community to come and try the products which highlight the power of Solana. As we have seen the crypto community is very tech savvy and not afraid to try new products. Trading screen will work fine on laptops. I can’t say how it looks on a 14" inch screen specifically but I believe it should be totally fine.
Roxana: Thank you for taking the time to answer all questions. It’s really great to see so many wallet alternatives these days, totally different compared to 2013–2014. And even to 2016–2017 days.
Hisham: Yes, the speed of development in this industry is just mind boggling. It is amazing to see and keeps everyone on their toes. Which is good for the users ultimately as there are more options coming out.
Roxana: Totally agree. That’s a wrap for our CCAI AMA. Thank you so much for your time, Hisham. I wish the CCAI team a successful AME and keep up the good work.
About CCAI
Cryptocurrencies.AI ($CCAI) is both a next generation centralized exchange and a lightning fast DEX on Solana. It offers spot and futures trading and much more. Liquidity is king, so that’s why CCAI has Binance as their liquidity providing partner exchange. Smart trading features including setting automated trailing stop losses and take-profit targets combined with a host of analytics and actionable insight features aimed to make advanced trading easy for beginners.
Website — Twitter — Medium — Telegram — Telegram ANN
About Launchpool
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.
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