AMA with Launchpool.

L: Hello Everyone. Great to be here.

Q: Welcome! Great to have you with us today :)

L: My pleasure.

Q: Lets get into the questions shall we? Can you please introduce yourself and your background? How big is your team and what is their experience like within this space?

L: I am the CEO of Launchpool. Before joining Launchpool, I worked as the Director of Research and Projects at Alphabit Digital Asset Fund. Before that I was an IT infrastructure architect. Our team is currently 10 full time people. Although we’re actively recruiting a number of positions now in marketing and project management. We also use a number of companies to help us launch, they provide services which we dont have in house atm.
Our team ids made up mainly of people that have been full time in the industry for at least 3 years. We have a couple of Uni grads as well who have come on board recently and we’ll be training up as we go along. But they have the relvant real world experience, marketing for example.

Q: You guys look like a solid team, everyone is currently anon correct?

L: I am not anon. I have made my self publicly known. I am happy to do so, some team members value their privacy.

Q: Awesome yeah I mentioned that for the people who didn’t know :)

L: Like most businesses, the figure head is known. As we expand the team we will probably make some announcements.

Q: Helps build some trust around what you are working behind as well.

L: And of course we’re backed by 10 of the biggest industry funds, who have all staked their repuatation on the projects.

Q: Are funds are listed on your website for people to check out?

Q: As for the beginnings of this project, What motivated you to start launchpool?

L: 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 so we wanted to do something about that. 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 incentivise our community to stay with projects and use the service of the projects we launch so hopefully its a win win for everyone. Projects also get the benefit of a bootstrapped community and well connected investors/funds.

Q: So this is a crowd funding platform correct?

L: Yes essentially its a crowd funding platform like some others we’ve seen pop up. But we aim to be egalitairan. meaning everyone equal, so our community get the same deal big investment funds do. Same price, sam vesting etc, so everyone has the same opportunity.
And we don’t have this narrative of funds dumping on smaller investors, which isn;t healthy for the funds, for smaller investors or the whole space more widely, we want everyone working together.

Q: Crowdfunding has been really hot lately so I can see why capitalizing on it right now is great.

L: And we think by giving everyone the same opportunity we can do that.

Q: Are these all FCFS basis?

L: Yeah, we have a few differentiators. Such as FCFS, and tiers. We don’t have either of those, we want evryone to have equal opportunity, so as long as oyu hold our token, you can stake it to show interest in a project. Then over a period of time (5–7 days( how lng you have staked and how much LPOOL will mean how much of the allocation you get. So there is no minimum, small investors can add value we think. They can have big voices, so its important to include everyone.

Q: Interesting concept, does the size of your share within the pool also determine your rewards? Or is it a set APY?

L: its important to make a distinction betwen phase 1 — our token distribtuion, and phase 2 — crowdfunding projects.
Phase 1 which is open now but rewards start to accrue on the 22nd. You stake a number of 10 tokens to receive our token, its free to stake minus gas costs.
Phase 2 you stake our token to show interest in a project, then we divide up the allocation between those who have shown interest.

Q: Distribution is based per block im assuming?

L: yes distribution is per block. you can visit our medium pages to find out the start and end blocks.

Q: With eth fees going crazy recently, have you thought of other blockchains to launch on to reduce these gas prices while staking?

L: This is really important to us. this s why we have a week long window for people to get in position and stake before rewards start getting distributed, so people can do it when gas is low. But of course ETH is the main chain, so that is first. We will absolutely aim to include other chains as soon as we can.

Q: Great to hear I think it will be very beneficial. Have you gone through any audits?

L: Yeah, our phase 1 staking contract has been audited by Certik, as has our token. Our phase 2 contracts will also be audited before they go live. We’ll put it up on our github too, along with the contracts.

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

Q: Could you give an overview of the tokenomics?

L: Yeah, again these are available on our medium pages.

http://launchpool.medium.com

L: 25% of the tokens are avilable for free to the community during our token dsirtibution. 25% of the tokens are avilable for free to the community during our token dsirtibution. 25% are avilable as ‘endeavour rewards’ these are to reward our community when they bring value to the project. 15% operations. 20% seed. 15% for te founding funds for putting their repuatations on the line.everything will be distributed per block over 90 days, starting in 1 week.

Q: Awesome, looks like a nice distribution.

L: Except for 15% operations which we will use t prvide liquidity on uniswap, for liquidty and day to day operations.

Q: Will these be locked or vested for a period of time?

L: They are unlocked atm, most will be put in to Unswap.

Q: Ahh okay I see. My next question will be a loaded question. What would you say your current hurdles are, and how do you plan on overcoming it? What opportunities allow you to capitalize on the current market you are in?

L: Yeah so 85% vested to stakeholders over 90 days. The most immediate thing is a successful launch. but we have a grea team that is well versed in launching projects successfully so we’re confident we can do it with Launchpool as well.
We need to build a community which is going really well, and i hope some of your community will become our community, we opened our staking contracts up today, and already we have nearly 2 million USD staked, and rewards don’t start for a week! so i thnk it’s clear we’re moving in the right direction.
the next thing is to launch some really great projects. im very excited how this is going. we’ve got some really good stuff lined up so im confident before the 90days of phase 1 is up, pahse 2 will start.

Q: That’s great to see 2 million TVL already.

L: Yeah we’re really pleaded with it, there are 10 tokens people can stake.

Tokens to be staked:
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)

L: We think we can bring in these farming and staking and crowd funding communities to be part of our communities and we can all work together to launch projects successfully.

Q: Community growth is what makes a successful project so Im glad you are taking these steps to guarantee good engagement.

L: Its important to us that we start wit the right people. a community that is strong, helpful and wnats to be successful over and over again.

Q: Exactly, will be following you guys along your journey I can’t wait to see how everything rolls out.

L: i think there are lost and lots of opportunties out there. i think our platform has a differentiator that will be appealing to people and to projects. we want to d everything by the book. phase 2 will be kyc’d for example. We are at the start of a coming bull market, there will be lots of great projects and im confident with the 10 funds we have behind us, we’ll be launching the best.

Q: Me too and please feel free to share any updates with our community when you can!

Official Unigems Medium account. t.me/gemsuniswap