Launchpool AMA Recap — Iagon
Date & Time: June 4th, 13:00 UTC
Guests: Dr Navjit Dha Liwal, CEO of Iagon
Host: Marilena Egittom — Launchpool Social Media Lead
Launchpool was excited to host Navjit for an interactive Ask Me Anything session with the Launchpool Community. The AMA comes in anticipation of Iagon’s $250k 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:
Marilena: This is a very special week for us at Launchpool: we’ve had good news and sweet surprises, and as the cherry on top we wanted to close the week with an AMA session with @NavjitDhaLiwaL, CEO of @Iagon_official.
I’d like to start by asking about yourself, the project, the team and your involvement with the space. From medical to cloud computing entrepreneur, tell us more!
Navjit: Long story, but I’ll do my best to summarise! I got into the blockchain space relatively early when I read the Bitcoin paper in 2013. My questions were probably the same as what most people ask: is it real or a scam? Being a health professional, I looked at ways of using the technology to secure the most sensitive data around the world: patient’s medical data. So, at first Iagon was just about securing health records, but as I talked to others the idea expanded to include machine learning. We talked to brilliant minds like Rohit, Elad and Claudio, who I will get into later. Today Iagon is focusing on the delivery of Decentralized, Cloud Computing and Artificial Intelligence services without any limits. In order to develop the Iagon platform, we continuously use cutting edge technologies, including machine learning, big data, data mining, decentralized and distributed systems, as well as blockchain technology. At the moment we are aiming sky-high with decentralized cloud computing on Cardano. Recently we welcomed onboard our new CTO Bjørn Bjercke. He has vast experience of over 20 years in financial IT infrastructure. With the invention of blockchain, Bjørn was early to adapt to this technology and his name is well known in the community.
Internally the team is growing rapidly. You can check on our social platforms the intensity of onboarding staff as well as experts including Ivo Grafolo, Jared Smith. Winjit are our development partners from 2017, very well known and established in 7 different countries. But we plan to move a lot of development here to Norway after we receive the necessary funding. Dr. Elad Harison has been my partner since the beginning. We’ve grown the idea and the impeccable technical solution together. Dr. Rohit Gupta actually wrote his thesis in 2005 in regards to decentralized compute, AI. His thesis relates well to our goal, he is also former Director of Technology for Expedia. Dr. Claudio Lima has a very broad knowledge in Blockchain architecture, he was the former CTO of Huawei in East Asia. And many other world class ML, AI and Blockchain experts are part of Iagon.
Amazing! Thank you for that. It seems like you have a strong involvement with the Norwegian tech and cloud computing ecosystem, being backed by government grants.
Yes! Innovation Norway and Skattefunn both are government funded and have supported us with grants and tax incentives for any development done in the next 2 years
Very good, so what makes your project unique, and what is the project’s vision to bring upon a turning page in the cryptoverse?
Iagon is unique in many ways, first with the impeccable technological solution secured with the patent as well as the team of experts who are included in the development of this solution. Security that we provide, integrated AI. Iagon is innovative in that it is:
1) producing a platform for both decentralized storage and decentralized computing
2) AI module to optimize the selection of miners, hence ongoing learning and improving performance (miners are not randomly selected as in other platforms)
3) the selection process is a decentralized process to secure the network against malicious operations and attacks
Sounds great Navjit! What made you choose Launchpool as your launchpad partner for the AME? Why this, why us, why now?
Launchpool was the chosen launchpad with it’s #FairLaunch4All approach that puts small investors first. Iagon is created from the people and for the people. We are decentralizing cloud storage and challenging the monopolistic power over data that 5 tech giants dominate (Google, Microsoft, Amazon, IBM and Alibaba). This is a similar approach.
“From the people, for the people” — that’s what makes us tick at Launchpool.
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? Please list any countries that are excluded from the allocation event due to regulatory reasons.
Allocation Size: $250,000
AME Launchpool Price Token: $0.025
Price on IDO: $0.04
Market Cap on Listing: $1.04M
More details on: https://launchpool.medium.com/iagon-ame-details-1b1707ab2be7
US investors will be excluded, but they can buy via DEX if they choose to.
Since we talked about the AME values… What happens after the Allocation Mining Event? Walk us 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.
Sure! Total Supply: 1,000,000,000
Seed: 45,000,000 tokens at: $0.02
For seed 3 month cliff, 12 month vesting
Private + Strategic: 100,000,000 tokens at: $0.025
For private 3 month cliff, 12 month vesting
IDO: 5,000,000 tokens at: $0.04
IDO, no vesting, no locking
Initial circulating supply: 26 million
Initial market cap: $1.04 million
That’s great! As we know, a project doesn’t come without a community, right? Tell us about it: Where does your community live? Where can we find you (social, web)
Our website is: https://iagon.com/
Telegram ANN: https://twitter.com/iagonofficial
About development & product roadmap, milestones etc. What’s Completed? What’s In Progress? What’s Scheduled? Could you walk us through the Roadmap, especially what’s planned for 2022 which is missing on this slide:
The Whitepaper was just updated with the new roadmap including milestones for next year. This is available on our website. The completed milestones include: decentralized storage, resource allocation app for Windows, Apple, Linux (although we have taken it down since then because we want to optimise the platform before) The crucial stages at this moment are:
Fundraising — Private and seed round is already completed. IDO is in active preparation.
Migration to Cardano — optimizing the Staking/Rewards Model. As well as intense onboarding of the best technical staff in our Oslo office.
We talked about the Team, the Token and the Roadmap. Now the funding: How will the funds be used? How was the project funded until the AME?
Most of the funds will be invested in technology development, 60% of it. We have a sky high and pioneer vision that requires onboarding of the strongest technical minds. Worldwide patents require funding. Marketing and adoption of the solution are also taking a part of the pie charts. GDPR compliance and legal issues are our strong suit as well, so we invest in it. With strong enthusiasm and believing in the impeccability of the Iagon grid, so far most of the funding was done privately by the founders.
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)?
Adoption of the solution will add value to the token and we understand that token value/utility is usually the most important aspect for the community. We are offering cost effectiveness. Businesses would be able to save up to 80% of their current computation costs. For startups and SMEs this would be beneficial and they can allocate this budget somewhere else. There are a lot of businesses/people that are questioning the privacy of the big 3, and rightly so. How much data are they actually reading/sharing? Data leaks happen often, not because the solutions are not secure but because the implementation is done by humans, which can result in errors. Here at IAGON we are driving (in the long run) for a self-governing cloud. TGE cap will be announced at a later time but the initial market cap will be around 1.04 million USD. Staking incentives will also be created and shared through our socials. ADA staking, USDC staking and IAG staking will be rewarded in various ways, stay tuned for info.
Thank you for sharing with us all the details!
Questions from the Launchpool Community
How does Iagon compare with Akash Network, another decentralized cloud computing project that is on Cosmos, besides the fact Iagon offering also storage?
Akash is a new player on block and from what we know, Akash has a test net. There are a few competitors within the space but we believe there is room for a few projects to succeed, just like the traditional cloud service market. Key differences between us and the competition is we decided to secure our tech with a patent, just to gain first mover advantage. Patent isn’t always a good thing in the open source field but it helps keep our first mover advantage. Even though we have not had the same awareness as some of these projects, we have been around longer than most, since 2017. There are other key differences: decentralized AI and decentralized marketplace. I would like to point out that there is room for a few of these projects to succeed as the market size is very large, not everyone will be using one platform. We believe competition is healthy, it drives innovation and drives the adoption of Blockchain technology.
What was the thinking behind choosing ADA as the chain?
The reason we are moving to Cardano is because Cardano is the most decentralized Blockchain (aside from Bitcoin). It is eco friendly, low tx cost and high tx speed. This all helps in the cost for small transactions related to cloud computing. I think scaling is definitely a challenge but very possible. There are a lot of SMEs looking for alternative solutions that reduce their cost, and Iagon can reduce those costs by up to 80%. The reason we are able to provide the much lower fees is because we have no infrastructure cost, no employees to run that infrastructure, just the resource providers earning IAG for their allocation.
What is the Iagon Ambassador Program? How it can be beneficial for the users?
Referral program incentivises growth. We will look for the community to grow from within and provide incentives for people that referral others to join the platform.
Many new projects made a good impression at first but were suddenly abandoned. My question is, how will you manage the project and token to gain a place in the market and become a good token in the blockchain world?
We have been in the space since 2017, we are a Norwegian based company and follow all legal regulations in Norway! We strive to be transparent and open to our community. We have put our own funds in the company because we believe in the long term success.
What are your top 3 priorities in 2021?
Security, Adoption, Community awareness.
What about Transparency? Can you please touch on the security side of Iagon?
We have been Transparent from the beginning, we have taken a big stance on this and since the beginning have worked with highly reputable firms like EY (Ernst and Young) to make sure that we follow compliance and make sure that we approach things the correct way. On the security side: We encrypt the files and the hash for that specific file is stored on the Blockchain, in a sense 2 layer protection. The only person that access to the file is the person that uploaded the file.
What do you think is holding the DeFi space back? What is preventing the mass adoption of DeFi products?
Simplicity: Projects are focusing too much on backend and taking away from the front end design. The solutions need to be simple and easy to use so that regular people can use them. Of course we have the centralised exchanges, governments and banks that are not letting money withdrawal and usage of money through DeFi platforms
Could you please tell me just a little more about the 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?
Dr. Elad Harison is a machine learning expert, professor based in Israel.
Dr. Rohit Gupta is the former Director of Technology for Expedia. His thesis in 2005 is based partially on what Iagon is working on today,
Dr. Claudio Limais the former CTO of Huawei and Blockchain architect expert.
That is the core team, we have 13 other staff members and about to onboard 11 more members.
Adoption continues to be one of the main weaknesses for most crypto projects, what efforts will you make to turn these weaknesses into strengths?
A simple user interface, providing real world needs, GDPR compliance, onboarding SMEs and universities.
Does Iagon target only the Crypto space? What about the real-world companies?
We have on board 2 pilot customers in the real world, which we cannot announce because of NDAs. But yes the plan is to adopt real world companies!
Marilena: Great, thank you to the community for so many questions!
We need to wrap up the AMA session for now, the unanswered questions will be picked up by Iagon chat mods in their Telegram channel. It was a great pleasure to have such strong participation. We will announce when the staking is open for the Iagon token $IAG #AME. Stay close with Launchpool!
Thank you Navjit — till next time!
As the presence of impactful technology increases, Iagon focuses on the delivery of Decentralized, Cloud Computing and Artificial Intelligence services. In order to develop the Iagon platform, we continuously use cutting edge technologies, including machine learning, big data, data mining, decentralized and distributed systems, as well as blockchain technology.
Launchpool ($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.