We were delighted to welcome our guests from LaunchX. The AMA took place on May 23rd, 2021 and our guests were @MeSoApey and @kingslayar.
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
D. Папа Роуч: hello Satoshi Club! it’s time for AMA!🥳 today we having AMA with LaunchX! and our guests – @MeSoApey and @kingslayar ! we are ready! 😄 hello! welcome! how are you doing? are you ready for AMA?! 😊
David: Hello Everyone, thanks for having us.
D. Папа Роуч: EPIC! thank you guys for joining us today! so let’s star our AMA!
D. Папа Роуч: as always introduction first 😉 so please introduce yourselves and your project 😇
MeSoApey: Sure. I am part of the operations and communications team for LaunchX. Have been in the space for close to 10 years now. Back ground in computer programming. Happy to be hear to share the good word about LaunchX!
Маry Satoshi CLUB: Hello!
Маry Satoshi CLUB: Welcome here 😀
David: Quick recap for anyone that isn’t aware. LaunchX project is a Dao that consists of 3 companies that operate a fund, incubation and tech build capabilities. We also have an advisory board that consists of many other companies that have well developed business infrastructure. It’s why during periods of market conditions like were seeing today allows us to keep building
Маry Satoshi CLUB: When did you start to develop LaunccX?
MeSoApey: LaunchX has had several iterations but the founding members concepted LaunchX back in February. With early ideation ambitions that bleed into Q4 2020.
Маry Satoshi CLUB: Gotcha! You had time to develop!😃
D. Папа Роуч: could you share info about your team? who’s behind LaunchX?
MeSoApey: Sure its first important to note that LaunchX is a decentralized Dao. Its founded by the core Ecosystem Dao which is made up of Marshland Capital, Magnus Capital, and Valaren Capital(Traditional firm/Dev Arm). Marshland and Magnus are both industry veterans in the capital start up space when it comes to crypto.
Маry Satoshi CLUB: Super! Really great founders!
David: Just to add to this question. It in essence means that the core team of LaunchX consists of all the combined resources and personnel talent that all three of these companies have. Its a very big team of people
Маry Satoshi CLUB: Guys! Thank you for your intro! Are you ready to start with the questions from our community?😃
Q1 from Telegram user @belkysgonzalez
It seems that you have a strong partnership with KuCoin after the successful BurningDrop launch. Can you tell us about your experience with the KuCoin team and how has LaunchX benefitted from this partnership? And after the BurningDrop, what is the next step? Can we expect more news about LaunchX and KuCoin working together again?
MeSoApey: Sure. Our connection with KuCoin actually stems from our strategic relationship with DaoMaker. The funds that founded the Dao actually have longer roots with DaoMaker dating back to 2018/2019 and into their strategic sale. Hatus view on the industry as it pertains to VCs that provide minimal value along with tokenomic belief of tight price levels between rounds help to stabilize our relationship to want to see each other succeed.
Between DaoMaker and KuCoin they both saw the vision and need to bring a community focused launch pad, with lower fees, and non profit in terms of vaults. With the solid team backing the project like Marshland, Magnus, and Valaren they were able to make the judgement that we were for real. Infact only a hand full of launch pads have been blessed with tier 1 liquidity so we are happy to be a part of the KuCoin family.
We are in conversations with them about next step as it pertains to trading competitions and our relationship with DaoMaker is stronger than ever as we are being introduced to some amazing partnership/integration opportunities.
Маry Satoshi CLUB: It seems you have a lot of partnerships in cryptospace, do you plan to launch on another exchanges? Or Kucoin is enough for now?
MeSoApey: Right now KuCoin and Pancake is more than enough liquidity for the short term. Our primary focus over the next quarter is building, providing value, and building the community so that the flow of ideas are coming from everyone. We do have aspirations for other exchanges but it is not the top priority at this time.
Маry Satoshi CLUB: That’s clear! We will follow your next steps👏 Thank you for your answers! Ready to proceed?
Q2 from Telegram user @victorogb
As a decentralized launchpad for projects, LaunchX is said to be community-driven, governance-based, and transparent, with the community at the helm of affairs as it concerns projects for consideration and possible launch on the platform. These privilege are available to community members as a result of the LaunchX DAO protocol. With the DAO protocol (described as a first of it’s kind), do all community members have a certain level of governance privileges or is there a specially selected governance team, and how will the DAO protocol effectively ensure that prospective projects are given the fairest community backed consideration?
MeSoApey: Good question. The way the governance process works at least as it pertains to projects listing on the platform. A project applies and is given a back ground check. If they pass initial back ground check we help them in posting the soft proposal. This is a warm temperature check 50/50 up and down vote. This is also a good time to refine the proposal with feedback from the community. From here an onchain governance vote is performed via token holders for the official listing. The Ecosystem Daos only power is to execute the will of the people but also has veto power in the case something that would damage the ecosystem has come arise or manipulation occurs. This is a check and balance system that is required to protect the integrity of the ecosystem but ideally would never be used as the governance threshold would be high enough to prevent manipulation. We think a good number is 30 to 40%. Something that will be discussed on the forums which go live Monday i would imagine.
Governance members will also be invited into discussion as it pertains to our listing vaults regarding different strategies we want to deploy the listing fees into and how much of the listing fees should be reinvested into the development costs of the company. This can be determined on a per project basis or a flat fee to make things simple.
Other development roadmap goals external to the initial roadmap and progress on the current roadmap are always up for discussion and any soft vote that passes community approval is eligible for a hard vote.
Маry Satoshi CLUB: Is your governance system already live?😃
MeSoApey: It should be ready for deployment Monday im told from our development team.
MeSoApey: So next 24 to 48 hours basically.
From there we plan to have many discussions including, what is most asked about, is delegation tiers for IDO staking.
Маry Satoshi CLUB: Wow! What users need to start voting?
David: The long term plan is for a fully community governed project. Like all successful community driven projects you need to have a period of transition so support the process of adoption. We created this structure to enable community engagement and involvement so that those most engaged are rewarded as they engage in the utility functions we will build
MeSoApey: To participate in warm up and down votes(Soft votes) its a simple forum vote but to participate in on chain votes you must have tokens and they will most likely need to be delegated to prevent people from buying tokens for a specific vote and voting day of. Basically security check to make sure you delegated prior to a vote going live.
Маry Satoshi CLUB: Which is minimum amount of tokens user need to have to participate in governance? I mean chain votes
David: We would encourage anyone keen to understand more to read our recent update medium article that give more information on how those community members that hold tokens will be able to engage with our platform.
MeSoApey: That is something still in discussion and we will look for community input once forums go live.
Маry Satoshi CLUB: Gotcha 👍 Ideally there is no min. From our perspective but this is an inclusive process.
Маry Satoshi CLUB: We understand 😃 Btw, you can share this article with our community 😉
MeSoApey: Sure you can read our community update article that details part of our roadmap and things we are actively working on.
Маry Satoshi CLUB: Thank you for your answers! Ready to go to the next question?
David: We sense that its important to be inclusive so most likely anyone with even the most minimum of token will have some ability to get involved. We will almost certainly consider a tiered system and offer more utility for holders that have more engagement with LaunchX. Pretty standard structure with any normal business operations
Q3 from Telegram user @Josegamboac
Launchx, as described in its medium, plans to launch the following projects: JustLaunchX, LaunchX +, LaunchX Studios. Can you briefly tell us about each of them?
MeSoApey: Sure. So its important that LaunchX can provide value full scope to projects that want to enter our ecosystem.
Just Launch X is for projects that are only looking to launch on the platform and connect with our community.
Some projects on the other hand are looking for incubation level support. Since Marshland and Magnus are notable funds and have incubation arms for projects we have launched we open up the ability for projects to enter into these pipelines.
LaunchX plus is a crypto focused vertical where Magnus and Marshland offer the option to come into our advisory arm and make sure the project has the resources it needs to take it to the next level. This includes full stack go to market services and access to our network with major players like DaoMaker, KuCoin, etc.
LaunchX Studio is a much bigger pond. We are currently in talks with major international incubators who are looking to make a splash into crypto. These incubation arms work very closely with major players like YCombinator, Techstars, and Andreessen Horowitz. This avenue is better suited for projects who can scale beyond blockchain and into the traditional space.
The goal is to mold LaunchX’s USP into more than just a place people launch their project prior to AMM but a spring board for professional businesses that have ambitions to make profound impact. Not all projects are eligible for this package because there is a high level of scrutiny when you are dealing with major players such as this. There are other things to mention in these tiers but i think its enough to get people aquatinted with the process.
David: Great question and this really should clarify any concerns anyone might have about the legitimacy or long term aspirations this project has. We are going to be announcing over the next few days, weeks and months a steady flow of partnerships that relate to how we will continue to expand our infrastructure and in turn build value for our community.
This forms part of a 5-10 year plan of building a framework of linked infrastructure that will support and co-exist to build greater value and increased capacity.
Маry Satoshi CLUB: So, as i understand you just planning all this or already find projects which want to participate in one of this projects?
MeSoApey: Could you maybe rephrase this question Mary?
Маry Satoshi CLUB: Let’s say, do you have projects which are going to paricipate in LaunchX Studio incubation program?
MeSoApey: Between Marshland and Magnus we deal with over 30 projects a month. Marshland specifically is actively advising or incubating 5 top tier projects at a time as well. So yes there are projects in the pipeline atm that are looking to come into the LaunchX ecosystem over the next 60 days. That being said each one still has to be pass a governance vote to list. Projects that have our backing obviously come with a boost of confidence though.
Маry Satoshi CLUB: Gotcha! I see you will have tones of upcoming events!
David: To elaborate a little further on where we plan to take this. Imagine the future where we are seeing traditional capital inflows that desire more open governance and transparency. We see a day when the community runs its own projects and launchpads and exchanges and benefits from the utility that provides. Oh and shares in the value that this creates.
Маry Satoshi CLUB: That’s our main goals in crypto!😃 Community trust and support costs a lot!
MeSoApey: Yes the traditional markets main concern is regulatory compliance. SEC frameworks like those submitted by Hester Pierce regarding Safe Harbor 2.0 position LaunchX above its competitors by offering a truly decentralized, governance driven, community/process. This has opened up many doors with traditional partners who have alot of opportunity coming external into blockchain and strategic partners who want to tap into crypto into more traditional vertical. The future is bright for LaunchX!
Маry Satoshi CLUB: It sounds like a dream which becomes true!
MeSoApey: https://www.sec.gov/news/public-statement/peirce-statement-token-safe-harbor-proposal-2.0
MeSoApey: Can read more about Safe Harbor 2.0 here and how powerful it will be for future start ups in the decentralized markets.
Маry Satoshi CLUB: It’s very interesting long read! Thank you for sharing!
Ready to jump to the next question?
Q4 from Telegram user @brotherhaikal
There is a coordinated FUD lead by former admin of LaunchX main chat (Paul), the FUD is consist on this project build by team of serial scammer that has rugged so many project before and the VC backing is fake, Will you try to explain this clearly to the community?
David: Its worth clarifying we’ve been engaged in the traditional fund and incubation space for nearly 20 years and our partnerships are with some of the biggest and brightest fintech, AI, Quantum computing businesses from Silicon Valley. They want to partner with us to bring the brightest minds and project to the blockchain space with us at LaunchX and we will take the best to them. Its a full cycle.
Маry Satoshi CLUB: As i know, and it’s a sad thing – a lot of projects have fud attacks
MeSoApey: Our community admin James had mentioned something about this but this is not the case. Marshland, Magnus have both been vocal in support via Social Media as well as other key backers like x21 etc which i believe our admins have shown in the chat. I would say KuCoin would not list a project that had fake backing same with DaoMaker. We are close friends with Hatu.
Маry Satoshi CLUB: I think it’s important that you’re opened and ready to answer such kind of questions 😃
David: The simple answer is to state that in order to get listed on Kucoin you need to have a full DD on the people behind LaunchX, you need a Legal Opinion. We have a full time lawyer that is part of the Advisory Board. Its a pretty ridiculous accusation to be honest
Маry Satoshi CLUB: May be someone wants cheap tokens?
Маry Satoshi CLUB: I hope guys will be pleased with your answers 😉
David: by the way we gave away 50k worth of tokens as part of our public sale in an airdrop. I would imagine a scammer wouldn’t do that.
Маry Satoshi CLUB: That’s true😃🚀
Q5 from Telegram user @yellowchamp
LaunchX is a true community focused launchpad. The majority of fees generated via project launches will be deposited into our specialized staking vaults and leveraged into passive APY strategies. Can you explain how does specialized staking vaults works? What makes it unique and special? Can you share to us some of the strategies that your LaunchX is offering to community,traders and investors to get a passive APY throughout the year? Thank you
David: Sure, simply put when we onboard a project we will take most of that fee and deploy it into staking vaults. If you hold LaunchX tokens you will have the ability to earn passive APY.
Маry Satoshi CLUB: Approximately how many projects do you plan to onboard, let’s say, per month? Have you set goals of this kind?
MeSoApey: Yes the unique thing about the APY Vaults is that when a project comes to list on the LaunchX they pay a fee just like any other launch pad. The difference here is that instead of a centralized party taking the money instead a small portion is put back into the development fund. The rest is deployed into a vault which is then deployed into different DeFi strategies. For example Aave for starts. The goal will be that the governance can create new strategies or choose where they want the vaults to be deployed. The more projects that list the more the vault expands and the more yield can be generated via the two week delegation cycles for the staking pools. Its a very unique solution that only we can offer because we are decentralized governance and there is no profiteer from this system.
MeSoApey: We will obv start out slow and scale up as we grow. This is similar with most launch pad models. The USPs we have mentioned prior we think will encourage projects to join more professional organizations like LaunchX.
David: We don’t have a set plan for volume. This is more about quality than quantity. As we scale so will the volume
Маry Satoshi CLUB: How much you will charge from projects to launch on LaunchX?😃Super! Which requirements you will have for the projects?
MeSoApey: We want to get community feedback if it should be done a project by project basis in the warm temperature check or if it should be a flat rate. We have a number in mind but would prefer to keep it internal until community discussion is had so not to impact opinions and also keep it out of the hands of our competitors. I will say by having overhead minimal from a decentralized structure we are able to lower the fee structure so most launchpads couldn’t even touch it.
This will be very important because we are heading into future where projects will want to launch on multi pad strategies.
Маry Satoshi CLUB: Nice strategy 👍 Thank you for your answers, guys!
Маry Satoshi CLUB: Ready for the 6th and last question from this part?😃
David: sure
Q6 from Telegram user @kimterbear
Talking about fair launch like you stated on your Twitter bio, do you implement anti-whale system since whales are one of the major problems in blockchains as they massively affect a token’s value. Do you set a limitation into how many a user can only hold in maximum for every projects launched in LaunchX? How protected are the projects launched here?
MeSoApey: Anti Whale systems are more focused on presale and post AMM listing. When we work with projects more intimately we have more control over captables to make sure its more distributed and with players who we know are holders and contribute value not day 1 dumpers. With AMM stuff we do have resources for sniper protection etc but its not really our focused. We are more of a supporting ecosystem and inject our selves on the LaunchX side at point of entry so we don’t have control over this stuff at times. It is part of our DD check but we work with projects in a fair and honest conversation.
David: Just to add to this. We followed a very extensive process ourselves in order to get listed on Kucoin and partner with DaoMaker. Such as audits, legal opinions, full disclosure of backers etc etc. We will do the same for projects that wish to launch with us.
Part 2 — live questions from the Telegram community
Q1 from Telegram User @Medo1234568
Do you have any plans to attract non ,,,crypto investors to your project Because it is the success of a project to get more investors who are still not in the crypto world. What are the plans to increase awareness around your in non-crypto space?
MeSoApey: Yes this is why we are partnering with incubators and funds external to crypto. They want us to partner for more traditional finance options and we are equipped to facilitate .
David: We have some core partnerships in the silicon valley fintech, merchant banking and tech spaces. We will defo have cross sector support
Q2 from Telegram User @My1queen
With LAUNCH X B2B ecosystem aimed for startups and small businesses to raise Capital with multiple blockchains. How will this be implemented and what measures are in place to check for fake and duplicated business?
David: As mentioned we live have a very comprehensive process to confirm that projects are high quality and valid. They will need to have full audits. legal opinions, substantial development and legitimate teams. Ultimate they must pass the would a top tier exchange list them. Thats the standard were looking for.
Q3 from Telegram User @Steffiiigray5
Can you tell us about the road map, how it is progressing and the results of your project so far? Then what are the obstacles?
MeSoApey: First 30 days
—Get governance portal live.
—Get community feedback and implement tiered systems.
—Refactor admin portal issues and small bugs not addressed pre launch.
—Implement vault and staking system.
—Integrate Huobi Eco launches.
First 60 days
—Solana Integration
Q3/Q4
—Dot integration
—Crosschain bridges integrations.
Q4 from Telegram User @imwiiw27
About the community governance of LaunchX, Community members holding $LNCHX tokens can actively vote for those projects that apply. And If the vote gets passed by the majority, an official proposal is submitted. Can you please tell us are there any benefits, reward or incentive if you propasal passed?
MeSoApey: Good idea will talk with the team about this.
Q5 from Telegram User @Antoni_azx
Your token $ LNCHX is now live on KuCoin, PancakeSwap and DEXTools, are these the only way to buy it? Also, can you tell us the main benefits of being a $ LNCHX holder? Specially for IDO and exclusive investment project participation?
MeSoApey: Yes these are the primary ways to acquire governance tokens. Primary usage is access to IDOs, Governance participation, staking for yield from vault strategies. There will also be some NFT aspects incorporated with our integration partner which is also first 60 days of the roadmap.
Q6 from Telegram User @Rayian3
Mostly all the Crypto is in dump recently by market crash. How does your project ensure that the coin will recover after dump?
David: Well, we see this market as a very early stage still. We have been involved in capital markets for 2o years or more. Crypto for a number of market cycles. We don’t get too focused on the daily noise
Q7 from Telegram User @shanto016
Many projects rug pulled and exit scam recently. Why should investors trust your project not to do the same?
MeSoApey: Our project is backed by major funds in the space including the incubation DAO. It also has gone through extensive DD by a centralized exchange which requires SEC lawyer opinions etc.
Q8 from Telegram User @Medo1234568
I have seen many projects recently appeared, and they died because of lack of liquidity and confidence in developers. How do you convince investors about this problem?
MeSoApey: Well liquidity is checked off as we have a CEX and a DEX. The latter is done by active community engagement and building. Full stop.
Q9 from Telegram User @highpee
You will offer startup and incubator service for new projects. If a project wish to get started, how will they go about it in order to get onboarded? What is the application process and what are the basic conditions that a project should meet before they are accepted on your platform?
MeSoApey: There is an application form on our website. This is the first step. Projects are more than welcome to apply directly when forums are live as well but we help assist them in the process if they apply directly.
Q10 from Telegram User @Indomiekuy
As we know crypto world is growing and there are much new launchpad project out there. can you describe what are the specialty from LaunchX than other competitor?
MeSoApey: I don’t know any other launch pad that is offering access for select projects to international partners who work strategically with big names like YCombinator, Techstars, and A16z. For starters. Even then we are a true community first launch pad with a scaling staking system. Very unique and unmatched imo.
Part 3 – Quiz Results
In the final part we tested your knowledge in terms of LaunchX. They’ve prepared 4 questions for this part. The total reward pool for quiz was 300$.
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