AMA Recap — InfinityPad
The session of AMA ( Ask Me Anything ) with InifinityPad was conducted on 16th October 2021 at 8:30 PM IST (3 PM UTC) and lasted for 1:30 hours.
I welcome you on behalf of Crypto players India team, hope you will enjoy today’s AMA session.
Very excited to have you with us.😊
Please tell us about yourself and the team working on InfinityPad?
Hi Jonty and every one, this is Andrea. I’m the project lead and I run tech and external relations for InfinityPad. I let Andrew introduce himself. In addition to us, we have five other team members, three of them are developers, one web designer and one for PR related stuff.
I m Andrew Smith looking after marketing promotions and co-lead with Andrea.
What is InfinityPad? Please provide a detailed introduction.
We have auto burn features that is unique to any existing launchpad is Chain-agnostic, Decentralized, Community-Owned
World’s First Auto-Burn Powered LaunchPad.
it is a next level launchpad to help raise capital across multiple blockchains on a single platform in a fully transparent and decentralized way by connecting projects and communities. So we are on multi-chain and now starting with BSC and Solana shortly.
There are several launchpads in the market so what makes you stand out from them? What are the advantages of InfinityPad.
Great question. Indeed, there are several launchpads in the market so why bring another one — this is where we started back in late 2020. We witnessed great innovations in IDO launchpad space since late 2020 but there is still a lot of room for further innovation and improvement to bring an effective and efficient IDO launchpad in crypto space. So, we conducted market research, looked at launchpad market evolution with historical data and developed a platform that a completely decentralized, chain-agnostic and community-owned.
What makes us different from others are two unique things:
- Our product/platform is truly decentralized and has auto-burn 1% and strategic burn 2% from our revenue
- Our unique mechanism to reward long term token holders through our Guaranteed Time-Weighted Allocation mechanism. This would ensure that no one from a project’s community is left behind who is a true supports and we still maintain the fair pricing upon launch. The mechanism is based on a mathematical formula that calculates the weightage of participants not just based on no tokens (which all current launchpads do) but also based on the time of holding. The product we are building is focusing on providing a one-stop-shop solution to blockchain projects to raise funds from their communities. The current launchpads in the market are missing rewarding their long term holders and/or project supporters. People usually buy tokens for an IDO and then sell upon listing. This creates pump and dump scenarios for the projects and more than often, a project’s true community is left behind during its IDO.
These all are what makes us a different, unique and truly community-driven chain-agnostic project in the crypto space. When it comes to benefits, there are many. Briefly:
- token holders benefit from price appreciation
- INFP is deflationary so supply is always reducing
- 1% auto burn on all transactions with 2% strategic price support to help our investors protect their investments during the bear market.
What are the conditions for a project to participate in fundraising on InfinityPad?
Currently, we are seeking a form for IDO on our launchpad and soon we are going to announce our first IDO..Very soon.
We review and evaluate the Expertise of the whole Team. We review and evaluate the Developments plan and timeline. We review and evaluate the
Marketing Plan of the project. So our focus would be to pick a project that is really doing something unique and the team should have the vision to deliver. And just not about standard protocol like VC, doxxed, KYC etc etc. but another way we can’t ignore these facts as well. We partnered with InterFi network as our KYC and Audit partner to take care of this audit and legality for projects to be launched with us.
Let me add one point here about the community of a project. A project must have plans on how they’re going to build a strong community and what are their plans to keep the community engaged over a long period of time.
What benefits will InfinityPad provide to its long-term holders over newcomers irrespective of their token holdings?
This is the current launchpad landscape at the moment: — The current launchpads in the market are missing rewarding their long term holders and/or project supporters. People usually buy tokens for an IDO and then sell upon listing. This creates pump and dump scenarios for the projects and more than often, a project’s true community is left behind during its IDO. Now, if you think as an investor you are holding tokens of launchpad for let’s say 6 months and then there is an IDO next week. I come tomorrow, buy the same number of tokens as you and apply for the whitelisting. So, you as an old investor has absolutely no benefit or more weight for supporting the launchpad for so long. That’s what we are addressing but adding weightage by TIME. In this case, one person can have 200 tokens but if s/he is holding those tokens for one year then anyone buying 200 tokens after her will ALWAYS have less weightage than her. That’s how we strongly believe is the best way to deliver value to our supports who are with us from day 1. So, time will play a crucial role and time is what makes one person a long term holder or short term holder, not the number of tokens. So, we’re using time as the driving factor thus rewarding long term holders over newcomers.
NFT is really a hot topic in the cryptocurrency market now. So how is your project planning to develop NFT then how is your project planning to integrate it with DeFi.
Indeed, NFT is a hot topic and I strongly believe that NFT is just starting and we’ll see the whole NFT market cap going above 1T in USD. The reason — NFT has so many use cases not just minting crazy images ;)
We have reserved 10% of the total supply just for NFT projects. We’ll use that reserve to source and develop partnerships with NFT projects which are innovative and have the potential to deliver solid ROI in the long run. We’ll start by hosting IDOs of such NFT projects on our platform but also partnering with them as their strategic investors and whatever returns we get from those investments will be distributed with our $INFP holders. That’s how we ensure that we are capturing value from NFT space and delivering in DeFi space.
We’ve had serious issues with rug pulls from tokens lately and honestly, it’s nothing to laugh home about. My first question is, how secure are our funds with you? Are our investments safe?
Very good question !! in fact, the crypto space is getting more and more toxic with each passing day and it's more of a concern for us as a launchpad partner for upcoming projects as well. Rugpull, Honeypot and malicious codes are the main culprit. And to some extent pump and dump too. Nothing safe in crypto space !!! But we are trying our best to stand out of crowd and deliver something to the community. Our smart contract and all codes are audited by the industry’s best auditor, one of the Canadian firms InterFi network, and they will audit all the projects to be launched on our platform. Our liquidity will be locked 🔒 with pancakeswap and team, tokens are locked with Team.finance by TrustSwap (it’s a household name in crypto space). We do have vesting on private and presale tokens. Hope enough to save you from all these rugs! If you still have any doubt feel free to put your point and we are happy to answer you. In another way, if you think as a software company what came first, virus or antivirus…of course virus. The same in crypto — one is innovation and then there are people who are experts and looking to exploit the innovation. Our job is to make sure that we are ahead of them. And how do you do that — by keeping our tech up to date, contract audits of every project we partner with and making our community our top priority.
I see your Presale will start Monday, Oct 18th. Where is the launch pad for $INFP? What time will it start? What is the minimum amount to join this event? And how many initial caps?
All sales we are conducting on our platform only. We had discussions with some other launchpads who approached us to host our sale on their platforms. After carefully reviewing, we decided not to do that because we are a launchpad and we want to deliver to our community. When you go to another platform, then they decide what you can do and what you can’t. It’s the same with centralized exchanges, had a few discussions but nothing interesting enough. Our presale will take place on www.infinitypad.io on 18th Oct 4pm UTC. Min is 0.5 BNB and we’re launching on PCS at an initial mc of $468k.
We’re super proud to say that in the last 3 days we have received interest from over 3k people so far for our presale. Based on the current number and growth, I expect it to go over 5k investors.
Whitelisting is going on for presale that you can participate. https://gleam.io/C4mla/infinitypad-presale-whitelisting
Please do note that due to demand, we decided to close whitelisting early, so now it’s only open until, 11:59 PM UTC tomorrow.
Let me give a generic answer to some of the questions I saw re tokens:
$INFP Presale whitelisting ongoing, Presale will take place on our platform on Oct 18, 4 PM UTC. Public sale will be conducted on Oct 20, 4 PM UTC. Whitelisting is not required for this round. Buyback/burn: 1% on every transaction, 2% buyback from our revenue streams
Community-focused, so Community ALWAYS first. 45k+ strong! Total supply 100m.
Do you have any Coin Burn / BuyBack systems or any $Token oiBurn plans to increase the value of Token & attract vtr Investors to invest?
You might not have gone through our whitepaper or contract properly may be. We have auto-burn features. So 1% is burned whenever any txn happens. Do for example if I send 100 tokens then the receiver will get 99 tokens and one token will be destroyed forever and it will be removed from supply as well. Also, we will use 2% from IDO fees to buy back/burn 🔥.
I want to invest in your project? But my question is, how safe is your project for investors? Can you give a proved that you are not scammer?
I like this one.
So, let me answer this. It’s great that you want to invest in our project. Our contracts are audited, and every contract we deploy in the future will be audited by our partner — InterFi Network.
Now regarding proof of scammer, first of all, I have no idea what defines a scam. Some people come with wrong intentions and disappear with funds in a few days — if that’s the definition then please check our progress, we have been building since Dec 2020. We closed our private round with 200 BNB last Friday, for private sale we had investors commitment of over $5m. If we had any bad intentions, then we could have simply received more money from everyone and then disappear. But that’s not what we are here for. We are here to build and deliver a solid product that will create wealth for our community and ultimately for $INFP in the long run. InfinityPad is here for years not months.
Do you have tutorial videos so we can get to know your project more clearly or do you have a YouTube channel or something? can you share it with us?
This is a good question.
As of now, we don’t have any youtube channels but we are working with Youtuber/Influencers who are good at that. So, our goal is to partner with them and push content through them. It makes no business sense to do something which you’re not good at, and we are not YouTubers. So, for now, content through YouTubers/influencers, in the long run, we will have our in-house time to push content.
If you or anyone in the community is a YouTuber, feel free to DM me or Andrew. We have spots available for them :)
The AMA recorded many great questions from the Crypto Players India community, as well as meticulous answers from our guests Andrew & Andrea V from InfinityPad. AMA Concluded at 10:00 pm IST.