Polydefi x Satoshi Club AMA Recap from 19th of November

Polydefi x Satoshi Club AMA Recap from 19th of November

Hello, Satoshi clubbers! Another AMA took place in Satoshi Club and we would like to introduce to you the AMA session with our friends from Polydefi and our guest was @prof_POLY – representative of Polydefi. The AMA took place on the 19th of November.

The total reward pool was 500$ and has been split into 3 parts.

In this AMA Recap, we will try to summarise the most interesting points for you.

Part 1 — introduction and questions from the Website

Andrés M. | Satoshi Club:
Hello, dear community. It’s a pleasure to be here with you again.

Prof. POLY:
Hello everybody, thank you for having me over once again to talk a bit about POLYDeFi

Andrés M. | Satoshi Club:
For our second AMA today, we have an old friend with us. @prof_POLY is here to tell us about PolyDefi

Jonah 🏅🎹 | Satoshi Club:
Welcome, @prof_POLY once again to Satoshi Club!

Prof. POLY:
How are you doing guys?

Andrés M. | Satoshi Club:
Welcome again Professor, we are honored to have you here one more time😁

Prof. POLY:
The pleasure is all mine.

Jonah 🏅🎹 | Satoshi Club:
We are doing good.. and excited to have you here.. how are you doing?

Prof. POLY:
I am doing good. I just noticed my Concorde account from pearzap got banned from telegram so that’s a bummer but I will get that sorted out after our AMA.

Jonah 🏅🎹 | Satoshi Club:
Oh.. sorry about that. I hope it gets sorted out soon

Prof. POLY:
Yes, but on to the AMA now:)🚀

Jonah 🏅🎹 | Satoshi Club:
Sure. I’m super excited about this.

Prof. POLY:
Same here:)

Andrés M. | Satoshi Club:
Well, past PolyDefi AMA was around two months ago, what is the news you have to share with us since that? Which milestone did you achieve in that time?

Prof. POLY:
Oh man, so much has happened.

  • we launched from KoalaDefi and raised our hard cap within 4 minutes.
  • we partnered up with quality projects on the Polygon chain
  • we launched our full casino feature
  • we are preparing for our first launch which will take place on the 24th of November

Jonah 🏅🎹 | Satoshi Club:
Impressive a lot has happened within this period.. 👏

Andrés M. | Satoshi Club:
Wow, those are amazing achievements, congratulations on your great job👏

Jonah 🏅🎹 | Satoshi Club:
So can you introduce yourself and your project once again to our community members?

Andrés M. | Satoshi Club:
Satoshiclubbers, let’s remember our past AMA with PolyDefi here https://esatoshi.club/polydefi-x-satoshi-club-ama-recap-from-20th-of-september/

Prof. POLY:
Sure thing!

My name is prof POLY and I am the CEO of POLYDeFi.

Basically, my intro is the same as Mr. Concorde’s one yesterday since that’s my other account.

I have set up multiple businesses in real life and after noticing I didn’t actually enjoy what I was doing I started to invest in crypto. it didn’t take long until I ended up working on big projects. after some time I thought it was time to manage my own project, so POLYDeFi was born.

POLYDeFi is a transparent next-generation tiered IFO launchpad running on the Polygon chain.

So what is an IFO launchpad you say? Let us explain:
IFO stands for Initial Fund Offering. POLYDeFi is a project that strives to decentralize the way in which new projects coming to the Polygon network raise funds.
Our Tiered IFO platform will help new cryptocurrency projects to raise funds by setting up a so-called “tiered launchpad pool”, which is based on a fixed purchase rate for tokens. POLYDeFi its native token ($OCTAGON) holders can stake USDC according to the tiered launchpad pool that they have qualified for, to receive an allocation of the IFO. Each of the 4 tiered launchpad pools will require an LP token lock. The more LP tokens get locked by an investor, the higher his/her tier will be, the more USDC he/she can stake, the more allocation of the IFO he/she will acquire.
In this case, a tiered launchpad pool is nothing more than a contract that manages: the accessibility to other pools, the contribution, and distribution of tokens.

With POLYDeFi, new DeFi projects will be able to raise funds cheap and fast. $OCTAGON token holders will be able to participate in IFOs in the utmost secure way on the Polygon network.

Andrés M. | Satoshi Club:
Thanks for the reminder Professor, usual we have collected the best community questions for you, let’s proceed🥳

Prof. POLY:
Let’s go

Q1 from Telegram User @Jmagsss

Earlier this month, PolyDefi have conducted a liquidity migration to a new DEX called “PearZap”. What was/were the main reason/s behind this migration initiative? Why have you chosen PearZap as the new DEX where you will put your liquidity? Could you please explain to us the process involved in this activity? Lastly, what will happen to the previous farm pools? Can the users involved in those native pools migrate their stakes also?

Prof. POLY:
18 minutes ago we deployed the new farms which are running on PearZap LPs. we chose to migrate our liquidity because we believe that PearZap can provide our project with way more benefits than Jetswap is able to.

PearZap will help us with marketing and exposure as well as they will forward launch applicants our way that they don’t end up launching themselves.

The previous native farms will be put in the inactive tab and the rewards will be set to 0

Today we complete the liquidity migration.

Jonah 🏅🎹 | Satoshi Club:
Congratulations on this.

Andrés M. | Satoshi Club:
Could you give us a short description of each farm? Main features and benefits.

Prof. POLY:
Both our native farms are part of our launch system. people need to lock their lp tokens for 4 days into the native farms with which they will qualify for a tier and confirm their IFO participation.

Jonah 🏅🎹 | Satoshi Club:
How many are they at the moment?

Prof. POLY:
2 native farms as of now, $OCTAGON/MATIC and $OCTAGOn/$USDC pearzap lps.

Andrés M. | Satoshi Club:
Which one do you recommend us?😃

Prof. POLY:
Haha i recommend $OCTAGON/$MATIC since we are still in a bull market

Jonah 🏅🎹 | Satoshi Club:
I also want to know if there are plans of increasing the number of farms

Prof. POLY:
For now, that’s not in the planning.

Jonah 🏅🎹 | Satoshi Club:
Thank you for your Awesome answers.

Ready for the next question?

Prof. POLY:
Yes man.

Q2 from Telegram User @Ask4unik

It is interesting to know that you have the interest of your investors at heart, So on what basis are new investments projects classified?
We will strive to give our investors as many benefits as possible for raising the initial funds for IFO projects. This means we select only worthy projects for our IFOs, which we will help increase their token price. How do you raise the funds to help new investors? Is it through campaigns or advertising the brand? After that increase, we will help them to maintain the token price as much as possible. Are instructional materials designed to help new investors scale through?

Prof. POLY:
Woo, that’s quite the question right there.

we will raise funds by selling the native tokens of the IFO project to our loyal POLYDeFi community. Our community will be the very first to hold these tokens (if there wasn’t a whitelist).

we all know how important it can be to be an early investor.

we will help the projects in their very first steps into DeFi, which will for sure help to maintain the token price as good as possible

A step by step guide on how to participate in the POLYDeFi IFos is going to be released within the next few days

Jonah 🏅🎹 | Satoshi Club:
Does polydefi decide on what price to sell the IFO project tokens to your Loyal community or does the project decide on this?

Prof. POLY:
We work out a number together with the IFO project. most of the time we get proposals and those proposals will be adjusted and finalized. so everything is being worked out together between the 2 projects

Jonah 🏅🎹 | Satoshi Club:
That’s great..

Ready for next question?

Prof. POLY:
Sure am!

Q3 from Telegram User @Jamesxmen

Cooperation with Pearzap, PolyDefi has announced a Profile Picture Contest & the reward is worth 300$ $PEAR tokens & $OCTAGON tokens. I am already participated & hope to win. When will you announce the winners? What are the rules & regulations in this Contest? Should we keep some $PEAR & $OCTAGON in our wallet to win this contest?

Prof. POLY:
We will announce the winners this 23rd of November on both Twitter and Telegram. there is no need to hold $PEAR or $OCTAGON in your wallet and the rules are simple: set the attached photo as a profile picture on Twitter and telegram, retweet and like the tweet and tag @concorde_pear in @pearZap and or @POLYDEfi_Community

Andrés M. | Satoshi Club:
Any other similar event to win tokens at the moment?

Prof. POLY:
No at this time we only have the profile pic contests up.

Andrés M. | Satoshi Club:
Still, time to participate in our community?

Prof. POLY:
Hell yeas, plenty of time! until the 23rd.

Andrés M. | Satoshi Club:
Let’s join Satoshiclubbers, great opportunity🥳

Well, the next question is knocking on the door.

Prof. POLY:
It’s pinned in here @polydefi_community.

Q4 from Telegram User @UniqueVicky

PolyDefi as a tiered IFO platform has a total number of 4 tiers investors can lock their Lp token namely bronze, silver, gold, and platinum, and each of these tiers have their different sizes, please tell us what are the specific features of these tiers, you said holders can stake USDC according to the tier they qualify for, what is the requirement to qualify for each tier? What are the sizes of each tier? What is the total amount of Lp token to be locked in these tiers to qualify for more allocation of IFO, more tier, to stake more USDC? Thank you

Prof. POLY:
This is a very good question but I can’t give many details on this as of now. we are releasing the tiers within a few days. I can say that the bronze tier will have a relatively low entry bar while the platinum tier will have a huge entry bar.

The higher the tier that is qualified for the more allocation of the IFO project tokens can be grabbed.

Jonah 🏅🎹 | Satoshi Club:
Great.. Thank you for answering this

Andrés M. | Satoshi Club:
Thanks for the Easter egg, we understand is top secret info

Prof. POLY:
It’s our special move to pump $OCTAGON:)

Jonah 🏅🎹 | Satoshi Club:
Next question is here..

Q5 from Telegram User @iceVermithraxx

I Understand that POLYdefi has an Ambassador Program and The POLYDeFi ambassador program is put in place to reward active community members when they help the project by finding quality launch projects and any community member can be an ambassador. Can you elaborate more on POLYdefi Ambassador Program? When an ambassador forwards a potential project to the POLYdefi core team, what are the rewards they receive and how are these rewards distributed to them? What are the terms and conditions associated with these rewards? and lastly, how can Ambassador(any community member) Forward these potential projects to the PoLydefi Core team?

Andrés M. | Satoshi Club:
Great strategy btw💪

Prof. POLY:
https://medium.com/@polydefi/the-ambassador-program-98c285d6bc37 all the info about the ambassador program can be found here.

The ambassador is able to forward potential IFO projects by setting up a group chat with me on Telegram with the launch project its core team included.

If we end up launching the specific project the ambassador will receive 0.5% of the total raise

Jonah 🏅🎹 | Satoshi Club:
Satoshiclubbers follow Link..

Andrés M. | Satoshi Club:
Which countries are focusing on? Do you have plans to implement new local communities to increase the adoption?

Prof. POLY:
No, we will only focus on our English community, managing multiple local communities is a huge headache. on top of that, you don’t know what is said in the groups.

I have been down that road before and never again:)

Andrés M. | Satoshi Club:
Haha good point

Jonah 🏅🎹 | Satoshi Club:
😂.

Andrés M. | Satoshi Club:
Thanks for your clear answer Professor, now we have the last question of this first part of the AMA🥳

Q6 From Telegram user @MudaraSilva

Describing the security and the transparency of your platform, you have mentioned a feature “Timelock since launch”. Moreover, you have stated that there will be a time-locked developer wallet and a time-locked project wallet. Can you deeply explain this “Timelock” concept? How does it help to ensure the security and transparency of POLYDeFi? In addition to ensuring these two aspects, are there any advantages of this “Timelock” feature?

Prof. POLY:
Haha lol, we never announced getting a timelock. but for the transparency part:

  • we fully keep our community inside the loop about what’s happening at all times.
  • we add a random community member to all IFO launch talks so they can see that we are trying to benefit our loyal POLYDeFi community above all others

for safety:

  • we have been fully audited by both Techrate and Paladin

Andrés M. | Satoshi Club:
Thanks for the clarification and we are happy to know you have been audited for two important firms 👏, security first

Jonah 🏅🎹 | Satoshi Club:
I like the idea of adding a random member 👍

Part 2 — live questions from the Telegram community

Q1 from Telegram user @Orlemys
What is there left to do before the end of 2021? Are there any platforms launching on Polydefi this year (or anytime soon?)?

Prof. POLY:
Our first launch is scheduled for the 24th of November, we will be launching $JUIX together with Pearzap in 5 days.

Q2 from Telegram user @adaatalay
What has PolyDeFi done for AUDIT and SECURITY? Should we trust you?

Prof. POLY:
We have been fully audited by both Techrate and paladin.

I myself doxxed to the core team of Koala DeFI.

I am working on multiple projects so the safety is there!

Q3 from Telegram user @boradam
I am curious about the NFT’s in the Polydefi platform. I mean do you have any unique and special NFT’s and what is your most special NFT package?

Prof. POLY:
We will come out when some really really exclusive NFTs in a couple of weeks. we will announce a VIP tier alongside these NFTs. NFT holders will be able to participate through staking that NFT 🙂

Q4 from Telegram user @Sumatranese
As an investor what do I need to join IFO? does it require whitelisting or KYC?

Prof. POLY:
You will need to lock your $OCTAGON LP tokens when we announce that it’s time to do so.

There is no KYC or whitelisting required for our community members.

Q5 from Telegram user @maryram
Is there any max supply of Polydefi and if tokens will not be enough will you mint new coins?

Prof. POLY:
All $OCTAGON tokens are minted pre-launch and there will never be more OCTAGON. OCTAGON is capped to a maximum supply of 30m.

Q6 from Telegram user @Rakshhitx5
How can I submit my project?

Prof. POLY:
You can send me a dm and we will see if we can work something out:)

Q7 from Telegram user @cindy0666
Can you tell us about your current partners and your future partnership strategy?

Prof. POLY:
We will keep partnering up with other quality projects, but we will be different than how we do now. we won’t be swapping any tokens anymore for single staking pools because it only devaluates our token.

Q8 from Telegram user @Gemshunter22
You mentioned about the 2 new native farms have been deployed. Will you add more options in the future? What are the deposit fees and withdrawal fees charged?

Prof. POLY:
There won’t be any more native farms to participate in the IFO. the deposit fees on both these farms are set to 0%.

The withdrawal fee is set to 3% to incentivize people to stay on the farms and participate in IFOs.

Q9 from Telegram user @SHELBYWINAMA
How does the community work on the POLY DEFI project? Do you think the community is important?

Prof. POLY:
Nothing is more important than a community for a launchpad project. this is why we have contests and games all the time in our telegram to build a solid and loyal community.

Q10 from Telegram user @Korryl
PolyDefi is a great project, could u introduce to us tokenomics from $OCTAGON token? how much maximum token supply $OCTAGON have?

Prof. POLY:
Tokenomics can be found in our whitepaper here: https://docs.polydefi.io

OCTAGON has a maximum supply of 30M tokens.

Part 3 – Quiz Results

In the final part, we tested your knowledge in terms of Polydefi. They’ve prepared 4 questions for this part. The total reward pool for the quiz was 300$.
For more information and future AMAs, join our Social Media channels:
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