We were delighted to welcome our guest from Showcase. The AMA took place on April 16th, 2021 and our guest was @Koven_Leader.
The total reward pool was 500$ and was divided into three parts. In this AMA Recap we will try to summarize some of the most interesting points for you.
Part 1 — introduction and questions from the Telegram&Bitcointalk community
Koven Leader: I’m happy to! My name is Koven. I have been working in PR and communications for some years now. I was a minor investor in crypto and was asked to join a project almost a year ago and began getting more involved on the development and marketing side. Using my years of experience in PR I was able to help with the branding, organization and marketing of a few projects.
Gold Rocket | Satoshi Club: Crypto marketing is very important👍
Koven Leader: Thank you! Our team is comprised of a front end and back end developer, a business manager and several creatives in the crypto space who together make up our marketing team. Together they hail almost 15 years of experience in the crypto world and even more in regular business Management.
Koven Leader: Let’s see these questions from the community.
Q1 from Telegram User
@Korryl
I see that BSCstarter already become top launchpad for BSC project. My question is how many total project that already registered and using BSCstarter, Can you describe which project are that? And what are the requirement if a BSC project want to join and use launchpad from BSCstarter?
Koven Leader: So I think it’s best to answer this question from the last one to the first.
Koven Leader:
1) you can easily join by following this guide: https://link.medium.com/V4LH3BpHDfb
We actually made that to help everyone with any knowledge of crypto (whether a lot or a little bit) so it should cover all the basics.
2) To describe the projects on our platform, would take us quite awhile but I can highlight some of the great ones. One of our biggest so far: WSB – a community-owned and operated decentralized version of r/wallstreetbets. WSB DAO was created to openly encourage the free flow of public information and opinion into actionable results.
Gold Rocket | Satoshi Club: And what are the requirement if a BSC project want to join and use launchpad from BSCstarter?
Koven Leader: GoSwapp – The ultimate terminal that arms you with the necessary tools for Dex trading and connects you to your favorite Defi protocols. Lastly we’ve had over 40 projects use our site to create a pool
Koven Leader:
That would be all for the question 😉
Q2 from Telegram User @cryptofollower
There are some projects on BSC for hosting launchpads for new projects. But this must not be the only job and responsibility for a project that hosts launchpads. What do you think about this? I think you must guide both the investors and the developers for this. I know you are not mainly responsible for projects, but do you feel responsibility about the projects you are hosting and do you have any mechanisms for guiding the developers and investors?
Koven Leader: This is a great question! While we want to make sure that we bring quality to our platform and that all users enjoy the experience we do aim to keep things truly decentralized. In that aspect, we do not have too many mechanisms for our IDOs that get listed to vet them. We provide guidelines to for listing on our platform so it isn’t every single person. We actually only go through vetting with projects that are looking for marketing or we may endorse. In this way, we allow the community to vote on and allow projects to list completely without us. And we can focus on shedding light on projects that are going the extra mile. We still let the community make the final decision.
Gold Rocket | Satoshi Club: By the way, we have a good question about this. But I want to make sure you finish the explanation.😊
Koven Leader: We have 3rd party services. We’ve partnered with the Rug Detectives to provide audits with the enrollment of our platform. It’s taking those kind of steps (including adding coverage options through bridge mutual) that we take to ensure our community is getting projects that are safe and have growth opportunities. These strategic partnerships allow for us to create aspects that can help make these projects a safer investment.
Q3 from Telegram User @Yusbealco
By giving them the freedom for the START token Hodler community to draw their own conclusions and make their own decisions about the project that will be confirmed or not by BSCSTARTER, leaving aside the bureaucracy and KYC laws. Does this way of working allow you to make good decisions? Do you think that the community is fully capable of making these decisions, and not doing it like other bsc projects that do it manually and use KYC? What would be the advantages?
Koven Leader: The main advantage in this is the decentralization. We like to think of our community as the approval system but we ultimately still make decisions on what’s best for the platform. This way, we ensure our platform isn’t subject to negative impacts from other teams.
Gold Rocket | Satoshi Club: It’s a wise decision👍
Koven Leader: Thank you! There will always be new ways to scam the system but I do believe we have thought of almost everything. Beyond just taking steps to help prevent this we also have taken steps to allow us room to work through the issues that may arise. Yupp! Once Bridge Mutual launches their coverage program, BSCstarter will be one of the first launch pads providing an opportunity for coverage AT launch instead of after.
Gold Rocket | Satoshi Club: great job👍
Koven Leader: Yupp
Q4 from Telegram User @yellowchamp
As an IDO platform, how will you consider a project to launch IDO in BSC Starter? What are the requirements and qualifications?As an investor,how can we trust and assure that every project launch in your platform is highly recommended and will not be a rug pull as time goes by? Can anyone participate with the IDO or there is a whitelisting process also to be taken? Thank you
Koven Leader: https://docs.bscstarter.finance
I think our docs is the best add for this question. It provides a very good breakdown of how to get on the platform for both investors and developers. I think as an investor it would benefit all users to read what the developers have to do in order to list. This gives a bit more clarity to what they are initially bringing to BSCstarter
Gold Rocket | Satoshi Club: Yes… Koven! I really like you have a trump card up your sleeve for every tricky question. 😁
Koven Leader: I believe in the motto “Stay ready, never got to get ready” 😉
Gold Rocket | Satoshi Club: wonderful motto! I have a great next question 😁
Koven Leader: Let’s get to it ✊🏽
Q5 from Telegram User @Andrey_Seleznov
Stats section shows that users need to hold at least 500 START for Guaranteed Allocation, with the price over $26 this is a very hefty sum of $13000. How many users hold such bags? Do you plan to lower the barrier to allow more people to enjoy the higher tier benefits?
Koven Leader: The latest time I checked it was almost 200+ users who hold that kind of bag. It’s not unachievable but it definitely does set a high bar. This was our intent when creating our tiers. It’s nice to be a part of an exclusive level. We don’t have any plans at the moment to lower it
Gold Rocket | Satoshi Club: Thanks for your answers! Btw, I would like to clarify more about the pools. I noticed that there are two types: finished and canceled. what’s the difference between them?
Koven Leader: Finished pools are the ones that have completed their voting and presale periods and are now currently live (or awaiting listing) on pancakeswap. Canceled pools were either canceled by the team themselves or it never passed the voting period.
Gold Rocket | Satoshi Club: perfect answer 😁 Are you ready for the final question of this part?😁
Q6 from Telegram User @Highpee
Towards the ends of March you released an update to BSCstarter and launched BSCstarter V2. Out of the new 4 major areas of modifications, the Guaranteed Allocations is what am concerned about because it will allow Gold, Platinum and Diamond users to be the first to buy tokens in the first 2 hours of any IDO sale before the remnant of sales are opened up for other investors to join. With this set up, do you think there will be token remaining for others to buy considering how financially strong these set of Users are? Why did you abolish the FCFS model which would have given everyone a fair opportunity? How do you ensure fairness and inclusive consideration for all financial category of investors that you have?
Koven Leader: Yupp. We actually didn’t abolish the FCFS model. We only implemented the guaranteed allocation as it had already been something in the works and the community was extremely interested in it. With adding this feature we do allow our teams to select whether they would like to dedicate a few minutes or more to the guaranteed allocation. Regardless of how much time they provide, with the Max BNB caps, there is still a lot of allocation left after. If I remember correctly, less than 1 minute. It’s because of these instant presales, as we call them, we added guaranteed allocation. So essentially, with you paying for the exclusivity of guaranteed allocation you don’t have to compete against everyone for a chance to participate in a presale. It’s a more comfortable option in comparison to FCFS, but we haven’t let go of that model.
Part 2 — live questions from the Telegram community
Q1 from Telegram User @Sumione
Do you have whitepaper released ??where can I find your project latest news and updates?
Koven Leader: https://bscstarter.finance/#/litepaper
Q2 from Telegram User @Johana0012
Currently developers looking to launch a new project face the daunting tasks of building a fair pre-sale offering, attracting investors who support their vision, and then providing liquidity for their token. Investors acting alone must sort through a crowded project landscape and create their own metrics to assess presales. What benefits does BSCstater provide for the solution to this problem? Can developers submit their IDOs to the BSCstarter community for reviews? What profile must they meet to be able to fit in?
Koven Leader: With our platform it’s pretty much an easy $START for any developer. Once they have the idea and the team to help develop, they can use our platform to crowdfund the money they need. Along with this, there are different programs and support that is provided when they reach out to us. They also have access to speak with our community and gain support from them.
Q3 from Telegram User @cryptofollower
Let’s assume that there is a great project and wants to launch with you guy but it got rejected by the community votes. And let’s say it is rejected with 50.1% Also knowing that it is a great project what would you do?
Koven Leader: There is nothing we can do. Our community speaks towards what they would like to see listed and be interested in investing in. You have to be a member on the platform to both vote and engage in the presale. So while it may in fact be a great project, if 50.1% of the votes are no then it’s likely they won’t see much support during the presale either.
In that sense, there isn’t anything we could or would do to change those results.
Q4 from Telegram User @Indomiekuy
Do you have any plan to create other feature beside launchpad? Maybe yield farm, stake, or NFT project? Can you explain more detail?
Koven Leader: We actually have plans to release START Farming 🤩
Q5 from Telegram User @mobilejii
✅✅ Where can I find the information regarding audit report? What is the name of firms which have you choosen for audit and suggested for kyc?
Koven Leader: This information is provided by the IDO teams upon launch. We don’t actually collect and publish audits for them. We work with the Rug Detectives on these aspects.
Q6 from Telegram User @ultimate373
How can I Apply for a sale on BSC starter, any step by step details or guide?
Koven Leader:
I believe we covered this earlier but I’d also like to share this. We like to use graphics when we can. This gives a pretty good breakdown and is pretty much the same step for any IDO
Q7 from Telegram User @Cyba_cy
Many projects have launched NFTs to attract investors, what is your view on NFT?
Koven Leader: We love ourselves a good NFT. We have been making some plans around this but we can’t say too much
Q8 from Telegram User @smelekin
If an Ethereum project wants you to make their IDO launch, can you do it?
Koven Leader: Not yet, but this could be something we look into in the future.
Q9 from Telegram User @yeowlin
So far are there any rugpull projects out of the 40+ launched?
Koven Leader: Nope! We are proud to say, we have gone a month+ with 0 rug pulls on our platform
Q10 from Telegram User @Smartling
How can I be a part of the BscStarter team?
Koven Leader: Had to save the best question for last lol.
We actually will be opening our doors for employees and independent contractors in the coming weeks. As we continue to grow we build upon our platform and features. This not only creates earning opportunities for investors and developers but employment opportunities for those interested in getting into the crypto career fields.
We’ll be rolling this out soon enough 😉
Part 3 – Quiz Results
In the final part we tested your knowledge in terms of BSCstarter. They’ve prepared 4 questions for this part. The total reward pool for quiz was 300$.
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