Launchpool AMA Recap — Satoshi Club

The AMA took place on 10 February in Satoshi Club.The AMA session was divided into 3 parts with a total crypto reward pool of 500$

Part 1 — introduction and questions from the Telegram&WebSite

Gold Rocket | Satoshi Club:
Hello, dear Satoshi Clubbers!

Mary | Satoshi Club:
Hello again Satoshi Club! We are happy to announce our AMA session with Launchpool! Welcome to Satoshi Club😀

Gold Rocket | Satoshi Club:
We conclude our today’s AMA marathon series with Launchpool.

Mary | Satoshi Club:
@Rich_Launchpool welcome here 🚀

Rich:
Hi, great to be here, thanks for having me.

Gold Rocket | Satoshi Club:
Welcome to Satoshi Club, @Rich_Launchpool😀

Rich:
Hello everyone.

Gold Rocket | Satoshi Club:
Thanks for joining 👍

Mary | Satoshi Club:
Let’s start our party 🎉 Rich, could you please introduce yourself and tell us more about Launchpool! We want to know as much as possible 🔥

Gold Rocket | Satoshi Club:
How did you get to be involved in crypto & Launchpool?

Rich:
I got involved as most people did I think, a friend recommended I look into it. I bought my first crypto and down the rabbit hole I went. Luckily I’ve been working full time in the space for 3.5 years

Gold Rocket | Satoshi Club:
Lol … like most of us😁

Rich:
I am the CEO of Launchpool. Before joining Launchpool, I worked as the Director of Research and Projects at Alphabit Digital Asset Fund.

Mary | Satoshi Club,:
You’re really lucky 😀

Rich:
Yeah i feel blessed, I love crypto. I live and breathe it. Only problem is switching off from it!

Gold Rocket | Satoshi Club:
🚀

Mary | Satoshi Club:
Yes😂

Gold Rocket | Satoshi Club:
Here everyone understands you well! 😁

Mary | Satoshi Club:
And how did you come to the thought that we need Launchpool?)

Rich:
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

Mary | Satoshi Club:
Yes, that’s true.

Rich:
So we wanted to do something about that. And 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 incentive our community to stay with projects and use the service of the projects we launch. So hopefully its a win win for everyone. And of course the projects get the benefit of a bootstrapped community and well connected investor/funds.

Gold Rocket | Satoshi Club:
This is a very good motivation! and the idea is great too.

Rich:
Thanks, we think so too.

Gold Rocket | Satoshi Club:
Thanks for the great intro! Ready for community questions?😉

Rich:
Ready!

Gold Rocket | Satoshi Club:
🚀🚀🚀

Q1 from Telegram User @reinleoken
Staking opens in about five days time, and distribution of $LPOOL a week later, what token are we staking, ETH, BTC or USDT? What’s the return of investment we can get in a week time, what percentage of stake is given as return? And how do we stake? I couldn’t find it on the site or the Bloomberg article.

Rich:
Thanks for your question. Its a good one since we haven’t got the information out there yet. However, today I can exclusively announce to Satoshi Club and therefore the wider world the tokens that we will use for staking to earn out tokens $LPOOL
We have chosen projects whose community we believe would like to become a part of Launchpool’s community. These projects and tokens are:
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 ($PAID)
TAP: tap.global ($XTP)

We cannot know the returns for sure as it will depend on the TVL and price performance of our token, but we have engineered it to be a success. I expect it to be a very lucrative pursuit for stakers.
Staking will be just like staking into a farm on sushi or similar.
Some info is here,
https://launchpool.medium.com/how-to-earn-lpt-4950bf99b24c
We will be releasing more soon.

Mary | Satoshi Club:
Wow, thank you for sharing! We like such news! Why you choose this projects? It was your choice or community?

Rich:
Our token will form part of an investor ecosystem on our platform. So holding our token will get you access to deals at great prices. so by just holding you can earn by these opportunities. Very happy to share. 😊

Mary | Satoshi Club:
Will we need to deposit to your platform?

Rich:
To access projects you mean?

Mary | Satoshi Club:
Yes😀

Rich:
yeah you stake the $LPOOL to show interest, then when you invest in the project, you get your $LPOOL back ready for the next investment!

Mary | Satoshi Club:
Great! What about security of your platform?😀

Rich:
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. Let me get you the link for the audit

Mary | Satoshi Club:
Sure👍

Rich:
https://github.com/certikfoundation-shared/CertiK-Audits/blob/master/reports/REP-LaunchPool-30_01_2021 (1).pdf

Mary | Satoshi Club:
Great! Thanks!

Rich:
My bad, link broke.

Mary | Satoshi Club:
Yes, I also can’t open it.

Rich:
https://github.com/certikfoundation-shared/CertiK-Audits/blob/master/reports/REP-LaunchPool-30_01_2021%20(1).pdf
There you go.

Mary | Satoshi Club:
It’s ok now😀

Rich:
Phase 1 will last 90 days, during that period we will launch phase 2.

Mary | Satoshi Club:
Thank you for your answers! Ready to proceed?

Rich:
Sure.

Gold Rocket | Satoshi Club:
Q2 from Telegram user @Korryl
On your Twitter said Launchpool can absolutely be a once-in-a-lifetime opportunity to kick-start your blockchain project. Almost 92% of blockchain project is failed. Can you explain what makes other project failed? And how can you convince us that Launchpool will become a success project?

Rich:
The tweet was referring to Launchpool being a great way for other projects to launch . However the reasons for their success are the same as the reasons for our success. Our backers, our community and industry know how will help to ensure projects are a success. We believe we’re a once in a lifetime opportunity because we’re going to be the best at what we do. We will ensure that because: EQUAL OPPORTUNITY.
1) Our focus is equality, so our community invests at the same price that the large investment funds do.
2) we have 10 industry known funds behind us providing deal flow. They also vet the projects and invest alongside launchpool. So you know the projects on our platform have passed the tests put on them by these professional investors.
3) we won’t operate first come first served or on a preferred tier basis. You stake your LPOOL to show interest in a project on our platform. Everyone that stakes gets a proportionate part of the allocation. Stake more LPOOL to get more allocation, everyone gets the same price and same vesting terms.
4) We are giving away free over 25% of our tokens to bootstrap our community. That can be you! Simply participate in our token distribution event starting on the 22nd.

Mary | Satoshi Club:
Yes, good opportunities 👍

Rich:
We really want to focus on building the best community out there. The community will be our most important asset. And they will share equally with everyone else, as they should do. So I ask all of you to be part of what we’re building. Come and join us!

Mary | Satoshi Club:
Do you already have local communities?

Rich:
It’s free! And it’ll be rewarding.

Mary | Satoshi Clu:
Of course! Satoshiclubbers 😉 join here @launchpoolxyz

Rich:
Yes we have a community, but we want to grow it. We’re a new company so there is plenty of room for growth!

Mary | Satoshi Club:
Sure! 🚀🚀🚀 Ready to proceed?😀

Rich:
I am.

Gold Rocket | Satoshi Club:
Q3 from Telegram user @Highpee
You have announced a partnership with Alphabit LTD, one of the world’s first regulated digital investment Fund and you have also said you are going to be fully compliant with all available regulations within your operating jurisdiction. How will these regulations affect your user-base and investors? Does it mean KYC will be needed to use your platform? Also, considering that some of the new projects which may want to launch on your platform may want to operate the full structure of decentralized finance including running anonymous team to avoid legal intricacies, how do you intend to run smoothly while enforcing regulation?

Rich:
Ok, a few bits here. Launchpool’s ethos is centered around doing the right thing in every situation. So to invest in projects you will need to be KYC’d yes. This is so that we adhere to Anti-Money-Laundering regulations. In the same vain we will also require all projects to undergo KYC. This way we can ensure that all participants are acting in the best interest of everyone that uses the platform. Its as simple as that really. We love defi and hope to launch many defi projects. But there are international rules regarding money laundering and we will work within them.

Mary | Satoshi Club:
So, a bit less decentralisation but a bit more security 😂

Rich:
We think this will protect investors too.

Gold Rocket | Satoshi Club:
Really! Safety first!

Rich:
Yes i suppose true decentralisation would be free from barriers to entry.

Mary | Satoshi Club:
Will some countries’ citizens be restricted from participation?

Rich:
Yes residents from the US and countries on the UN’s sanctioned list will be unable to join us. Sorry. There are other platforms that they may use, so we’re offering a slightly different service. As you say, more security. But at the cost of some people being unable to join us.

Mary | Satoshi Club:
Understand! And next question is also connected with this question 😉 Ready?

Rich:
Yep.

Gold Rocket | Satoshi Club:
Q4 from Telegram user @sirdefi
Launchpool claims to offer the community only projects that are legal and of proven benefit, so how is this validation process for new funds or projects? How long does it take you to verify that it is worth incorporating? I would also like to know if you are responsible for losses on “verified” projects that turned out to be scams.

Rich:
All projects are subject to due diligence by the platform. So we will do KYC checks on the founders and team, advisors etc. If an associate investment fund has brought the project to us then they will have also done their due diligence.

Mary | Satoshi Club:
Did you ever think about some kind of insurance? Because a lot of things can happened, but of course we hope only for the best.

Rich:
Like all crowdfunding platforms we are not responsible for losses. Of course no amount of due diligence can protect the investor from every eventuality. It is always the responsibility of the investor to do their own research. We do not offer investment advice.
However we would obviously suffer reputational damage so it is in our interest to only allow the very best projects to launch on our platform. We are actively looking at this. But it’s early days and definitely won’t be ready at the start of our platform launch. But hopefully it is something we can integrate.

Mary | Satoshi Club:
But it’s very good that you think about this! Thank you for your answers! Let’s jump to the next question?😉

Rich:
Yeah.

Gold Rocket | Satoshi Club:
Q5 from Telegram user @AmirJosh
I read on the Launchpool website about the Egalitarian Investing that the project is trying to implement. What is this Egalitarian Investing is all about and why do you think it is the most suitable system for a platform like yours?

Rich:
As I have alluded to in other answers. egalitarianism means everyone equal. So for different stakeholders on our platform, it is important to us that they’re all equal because they all provide something valuable to the ecosystem. Influencers, marketers, small and large investors, all play their part. so they should all get the same deal. If everyone gets the same deal, then everyone is in the same boat, all rowing in the same direction to success! We believe this is important to the space democratisation and equality is really what the cyperpunk movement is about.

Mary | Satoshi Club:
Ok, let’s say influencer made a great campaign and brought you, let’s say, 1000 community members and 10 big investors and a guy just bought some of your tokens. Will they be equal both?

Rich:
So we want to bring that to everyone and let everyone participate on equal terms. This is why we have 25% of our tokens designated for ‘Endeavor rewards’ these are token rewards that will be given to those who provide the most value. So yeah if you’re an influencer bringing us 1000 community members you might be entitled to some of these rewards. if you’re just a guy then probably not. But if you’re a token holder you can still et those great investment deals.

Mary | Satoshi Club:
Gotcha 👍 Thank you! Ready for the 6th and last question from this part?🔥

Rich:
The idea will be to create a circular economy, s as projects launch and Launchpool benefits from that, Launchpool will buy tokens off the open market to replace endeavour rewards earned by people adding value. I am now!

Gold Rocket | Satoshi Club:
Q6 from Telegram User @borysfireball
Recently i was going to join one pre-sale on one of the platforms, but i found that if i want to invest ~$500 in sales i need to hold ~$3000 of the platform’s tokens. So, what about Launchpool? How many tokens i will need to hold to participate in events?

Rich:
Ah again, this is one of the things that differentiates us from other platforms. Even if you have 1 LPOOL token you can stake it and you will be offered some of the allocations. iI may not be worth it with gas prices as they are, but that is the ethos of the platform. everyone gets a cut no matter how small. So yeah someone with $500 can definitely use our platform and will definitely be able to invest in projects. We’d love to have you 😊 Since just because you have less money doesn’t mean you’re less valuable to our project or the project you’re investing in.

Mary | Satoshi Club:
That’s nice😂 more opportunities for users! Did you already find projects which want to launch on your platform lately?😉

Rich:
You might be a great marketer in your country or have some other skills that are beneficial.

Mary | Satoshi Club:
Golden words 😀

Rich:
Yeah we are actively discussing launch with some projects now. we’re really excited to get going and we think they will be big.

Mary | Satoshi Club:
We will wait for the announcements from you🚀

Rich:
I can’t say too much, as we’re still finalizing things but we’re already getting lost of offers from projects so we will be whittling the down to a few for launch. Yes they won’t be too long.

Mary | Satoshi Club:
🚀🚀🚀

Gold Rocket | Satoshi Club:
Рrepare for a storm of questions 🚀 But before that, please share some useful links and information with our community. @Rich_Launchpool

Mary | Satoshi Club:
Live part? Storm of questions? Did you already prepare your umbrella ☔️?😂

Rich:
I would love to say thank you to you the hosts and your community for taking the time to hear what i have to say and hear about Launchpool! Yeah storm questions, lets go. Links: @LaunchPoolXYZ Telegram and Medium https://launchpool.medium.com/

Mary | Satoshi Club:
Yes, but you haven’t seen live questions yet😂 You will feel how strong our community is and how interested they are in the Launchpool project 🚀

Rich:
Ah ok, fair enough.

Gold Rocket | Satoshi Club:
Thanks for kindly words.

Rich:
I’m sure they’ll be great.

Mary | Satoshi Club:
Let’s go 🚀

Part 2 — live questions from the Telegram community

Q1 from Telegram user @ Jannatul Ferdous
What is business model of your project ? How it works? and
Who are your potential customers and which markets are you targeting on?

Rich: We charge the Projects a small fee. After our costs, we will use any leftovers to buyback $LPOOL that we can then give away as a reward to people that add value to our platform. Our potential customers are any crypto investors. Our markets are all over the world.

Q2 from Telegram user @ Topind

Can you highlight and explain three to four key benefits for $LPOOL tokens?

Rich:
Access to projects at the earliest rounds, enabling investors to access best prices without the associated minimum threshold reserved for investment funds. 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 communities.

Q3 from Telegram user @ Kevin Salom

🔥 At what stage is Launchpool at the moment? How many projects are associated with you at the moment? What items do you have on your schedule for 2021?

Rich:
We are a few days away from launching. You can see the countdown on our website. As I said we’re actively discussing launching some projects on our platform now. we hope the first one will be in around 40–60 days.

Q4 from Telegram user @ ꧁ ᒍᑌᗩᑎ ᔕᗩᑎᗪOᐯᗩᒪ ꧂

How did you find the SatoshiClub community?

Rich:
Great fun, thanks for having me!

Q5 from Telegram user @ 🔴 Vasco da Gama

“Q2 / Q3 2021 on your roadmap Process improvements.” Will you not have any other actions during this period?

Rich:
Project investment opportunities will continue throughout any improvement process/upgrade.

Q6 from Telegram user @ Anderson Ico speaks community is scam

Hello
!@Rich_Launchpool. I have been scam before in other projects by scammer .so will you please give me the right contact information to whom should I contact for joining LPOOL presale?

Rich: Its awful to hear when people have been scammed. This is what we’re trying to avoid. Go to the website and our medium page and you can learn how to participate in our giveaway.

Q7 from Telegram user @ TRON TRX

How do you plan to promote your project in different countries? where English is not spoken very well. Do you have a local community so they can understand your project?

Rich:
We will eventually have local communities in non English speaking jurisdictions.

Q8 from Telegram user @ 👽 Crypto Jiren 👽

❎ If I want to only invest in mutual funds associated with Launchpool do I need to buy $LPOOL token? Or is it not mandatory in this case?

Rich:
To be part of our community you must hold $LPOOL. well if you ant to invest in projects you must do.

Q9 from Telegram user @ I thingking about me || Buy Aerox Soon ~

Can I stake the $LPOOL token and what long-term hold on the $LPOOL token?

Rich:
During phase 1 of our token distribution, you can stake $LPOOL and LPOOL/ETH univ2 to earn more $LPOOL. Then in phase 2 you can stake 4LPOOL to access investment opportunities in the projects launching on our platform.

Q10 from Telegram user @ RiaNia

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 ?

Rich:
This is important. We recognize that when the Yield farming ends then people tend to sell and move to the next farm opportunity. Before our yield farming ends we will launch projects on our platform. Therefore there will be another use case for the holder that they can profit from. Once we start launching projects we don’t intend to stop. Polkastarter has done a great job of showing what is possible. We plan to take it to the next level.
Integrate more blockchains and have more opportunities for investors.

Part 3 — Quiz Results

As usual, for the third part, Satoshi Club Team asked the chat 4 questions about the crypto project. A link to a Quiz form was sent into the chat.

Satoshi Club:
Telegram Channel: https://t.me/satoshi_club_channel/

About Launchpool:

Launchpool believes all project stakeholders are as important as each other. Investment funds and communities should work side by side on projects, on the same terms, towards the same goals.

Launchpool harnesses their strengths, and aligns their incentives, so that the sum is greater than its constituent parts. To learn more about Launchpool, visit our socials:

Website | Twitter | Telegram

Launchpool connects varied stakeholders in the crypto community, including funds, community, marketers and experts, incentivising all. Join: t.me/launchpoolxyz