Welcome to another episode of our AMA series. Today we are glad to tell you about the AMA session with our friends from PolyDeFi, a transparent next generation tiered IFO launchpad running on the Polygon chain. The AMA took place on September 20 and our guest was Prof. POLY, CEO and founder of POLYDeFi.
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 COMMUNITY QUESTIONS
Gold Rocket | Satoshi Club: Hello again, dear Satoshi Club community! We are pleased to announce AMA with PolyDefi, today our guest is @prof_poly.
Prof. POLY: Hello everybody Nice to meet y’all and thanks for having me over.
Gold Rocket | Satoshi Club: Let’s start! Introduce yourself please. How did you get to be involved in crypto & PolyDefi?
Prof. POLY: Will do! My name is Prof. POLY and I am the CEO and founder of POLYDeFi. In real life I set up multiple successful businesses in the; sports branches, clothing branches and in the marketing branches. After realizing I actually didn’t enjoy working for any of these businesses, I went looking for something else. In the beginning of 2017 I noticed crypto and I immediately saw the great potential that it had.
My first bull run exceeded all my expectations and I invested in ICO after ICO. Life was good until the Bull market ended, I started to lose money and I didn’t have any more money to invest with. I thought I might try to get myself into a crypto project team to get myself some more investment money. During the bear market I worked on a couple of projects, from which I learned a lot in matters of advertising crypto projects and managing communities.
When the bull market came back in 2020, I went looking for new projects to work on. With the previous gained experience, it was easy to get on new project teams. I ended up working on multiple Launchpad projects and some yieldfarming projects. I loved every second of working on these launchpad projects but I noticed there were some flaws within the system they all used.
I left the launchpad projects, thinking that I could do it way better than they did. I reached out to some of my contacts and asked them if they would like to work on their own launchpad project. They said yes and so POLYDeFi was born. POLYDeFi will succeed because of the experience that the core team has.
As CEO I will guide everybody in the right directions, do marketing, set up partnerships and guide IFO projects in their first steps into the DEFI world.
Gold Rocket | Satoshi Club: buddy, you have great experience to become a leader. Give us a brief introduction to the project. What is the essence of PolyDefi?
Prof. POLY: I sure as hell believe so too! POLYDeFi is destined for great things.
Andrés M | Satoshi Club: I agree.
Prof. POLY: POLYDeFi will be a transparent next generation tiered IFO launchpad running on the Polygon chain. Initially POLYDeFi its native token $OCTAGON will be a yieldfarming token, until the launchpad is fully developed. In the time between our own launch and launching IFO projects from our launchpad, we will have a huge focus on building a community.
So what is an IFO launchpad you say? Let me explain: IFO stands for Initial Fund Offering. POLYDeFi is a project that strives to decentralize the way in which new projects coming to the Polygon network raise funds.
Our Tiered IFO platform will help new cryptocurrency projects to raise funds by letting investors lock their liquidity in our native OCTAGON/USDC farm, the amount of LPs locked makes the investor eligible for one of our 4 tierpools, a tierpool is based on a fixed purchase rate for tokens.
POLYDeFi its native token ($OCTAGON) holders can stake USDC according to their tierpool and receive an allocation of the IFO. In this case, a tierpool is nothing more than a contract that manages the accessibility to other pools, so basically it is nothing more than a contract that manages access, 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 an upmost secure way on the Polygon network.
The ultimate goal for POLYDeFi is to become an all-in-one DeFi platform. Our launchpad system will work in a different way than other launch pads. While participating in a POLYDeFi IFO you are still generating Yield from our notice farm. More can be found in our whitepaper: docs.polydefi.io
POLYDeFi will launch on the 28th of September.
Gold Rocket | Satoshi Club: Also we would like to know more about your team. Who is on the project team core?
Prof. POLY: So on the team we also have:
-Pollock: our graphic designer who worked for big companies such as: Gucci stone island and louis Vuitton.
-Michael: our marketing manager who has worked on 2 big BSC projects as a marketing manager.
-davidev and Nico: these two coding legends are our devs. They have been a team for a long time and worked on multiple ETH and polygon projects together.
Andrés M | Satoshi Club: Are you looking for new members?
Prof. POLY: Right now we are not looking to add more people to the core team. We do need some quality admins tho. Our plan is to scout talent after launch straight from our group chat.
Q1 from Telegram User @victorogb
Going through your document, I observed that POLYDeFi will make strategic steps to it’s project development, which will start off with your DeFi product launches and building of your own launchpad. Can you extensively talk on these plans, especially as it concerns your launchpad, what kind of projects will you look to work with and offer your launchpad services to, and when can we expect full implementations of these services? Also, there are plans by POLYDeFi to build an NFT marketplace and launch its first NFT collection. Can you kindly provide details on this?
Prof. POLY: Very good question!
Our launchpad will be fully developed within 1/1.5 months. If we feel like the POLYDeFi community is strong enough to start handling launches, then we go full force ahead. Not just any IFO project will be eligible for a launch at POLYDeFi. Only projects with a good use case, loads of utilities and/or project that have their main platform as good as ready will be eligible.
Regarding the NFT marketplace: it will come together with our first batch of NFTs starring our Mascot OCTAGON. The NFTs will each have its own rarity. We might even create a launchpad tier pool for NFT holders.
Andrés M | Satoshi Club: Do you have talks with any project at the moment? What are your most important partnerships?
Prof. POLY: So far we haven’t been looking into new projects that want to launch.
We are in talks for 3 partnerships right now to back us up before launch. One of those partners is a big big dex and they might forward their applicants straight to POLYDeFi.
Andrés M | Satoshi Club: What are the main usecases of $OCTAGON?
Prof. POLY: The main usecases for $OCTAGON will be:
– yieldfarming in its MVP.
– it will give you access to quality IFO projects while still earning yield.
– it will grant you access to our full casino (live table games, third party slots and more) which might be implemented within the first week after launch.
These usecases are just a few out of a big list. We will make sure there will be more and more usecases and utility for $OCTAGON.
Q2 from Telegram User @Pavel_Jarosh
PolyDefi Octagon whitelist presale has been taken on September the 3rd, 2021 with the initial price of 0.01 USD per token. Please share how did it pass, had it overcome your expectations in regards of the amount raised and what are the next plans for public sale?
Prof. POLY: So at the time of the whitelist we were still pretty small so I didn’t expect to fill the full whitelist already. At first the whitelist progressed really slow but when America woke up it went very fast. We were so happy with the whitelist completion.
Right now we are getting everything in place for our launch with the Koalas on the 28th of September. POLYDeFi will announce 2 more quality partners before launch for extra backup.
Andrés M | Satoshi Club: Why did you choose that initial price?
Prof. POLY: I wanted to keep the marketcap low so that the token could really fly at listing.
Q3 from Telegram User @Billz120
Your Tiered Launched PolyDefi has a total of 4 tiers, each one with its own tier size. Could you please explain to us what it simply means by tier size? What amount of LP Token would will each tier need to qualify?
Prof. POLY: So we will have 4 tiers at POLYDeFi:
Level 1: bronze tier
Level 2: silver tier
Level 3: gold tier
Level 4: platinum tier
If an investor qualifies for the bronze tier he will be able to grab less allocation than an investor that qualifies for the platinum tier. The higher the tier, the more LP tokens will be required to be locked. Unfortunately, we can’t announce the required amount to lock yet, because we need a stable token price in order to decide this. So we will announce this closer to launch.
Andrés M | Satoshi Club: About staking, have you established the APY?
Prof. POLY: Not yet, this is something that we will monitor when we have launched. We don’t want insane APYs because our main focus is launching projects. But we don’t want a low APY too because we need to be attractive. So expect a decent APY while you are benefiting from the launches as well.
Q4 from Telegram User @JesusFre1tes
I read that $OCTAGON token holders will be able to participate in IFOs in the most secure way on the Polygon network. Besides this advantage, what are the other benefits that $OCTAGON holders will get for being POLYDeFi holders? They offer security, but such holders will also have VIP and exclusive access to all IFOs that take place within POLYDeFi? What can you tell us about this? Thank you!
Prof. POLY: We thought about giving vip access to launches but then we need to have IFOs that are free for all to invest as well and we didn’t like that idea.
POLYDeFi aims to become an all-in-one platform. we will have a casino in which you can play with octagon tokens. We are not talking some games like lottery or money wheel, we are talking live table games like blackjack, third party slots and more.
Also only $OCTAGON holders will be able to use our NFT marketplace which will come later down the road. Also all the other launchpads require the tokens to be either in your wallet for a snapshot system or require you to stake tokens into a tier where you don’t earn any benefits.
At POLYDeFi you will be able to participate in IFOs AND keep earning yield.
Gold Rocket | Satoshi Club: By the way, why did you choose Polygon?
Prof. POLY: Because we are initially operating from the polygon chain. Also POLY means: “a lot” in Greek and that is exactly what we want for POLYDeFi to do.
Q5 from Telegram User @DK177
62% from the total supply of $OCTAGON has been allocated for the initial circulating supply. Breakdown of this portion is 23% for liquidity, 5% for whitelist and 34% for private sale. Can everyone participate in your private sale? If yes, please explain the procedure. If no, what is the option for the community to buy $OCTAGON? Don’t you conduct a public sale? If no, what is the reason behind that decision? Conversely, will the token be listed on a CEX or a DEX bypassing the public sale?
Prof. POLY: Alright this is a tough question because I don’t know all the answers yet.
We are launching with Koala on the 28th of September and we will add liquidity on the 29th of September at 9AM UTC. The exact IKO process from koala will be announced within 2/3 days.
The liquidity will be added on a major known dex. I got confirmation of that listing partner just now.
Andrés M | Satoshi Club: Btw, what is the max supply of the token?
Prof. POLY: $OCTAGON has a max supply of 30M tokens across all chains that we integrate in with.
Andrés M | Satoshi Club: Which were the results of the audit?
Prof. POLY: So our token audit results just came back yesterday from Techrate and they were 100% perfect. We are still awaiting the farm audit from techrate. Straight after launch we will apply for a paladin audit as well.
Q6 from Telegram User @Jamesxmen
When I read the utilities of OCTAGON token, it has reported about Manual burn mechanism on special events & when needed in PolyDeFi Whitepaper. Could you elaborate more informative facts on Manual burnings mechanism? When will be a special event appears in PolyDeFi project So that to be happened a manual burn? How much amount of tokens do you intend roughly to convey towards the manual burns in future? What will you do if the PolyDeFi community disagree on Manual burns?
Prof. POLY: So like you can see in the tokenomics the project won’t have a lot of tokens.
For an all-in-one defi platform you need a fair amount of tokens to be circulating.
We are not planning on burning a lot of tokens. When we feel the community really needs something special we. Will do an occasional burn.
Andrés M | Satoshi Club: So, talking about important events for the project, could you share your roadmap with us?
Prof. POLY: Https://docs.polydefi.io/roadmap
PART 2, TELEGRAM COMMUNITY LIVE QUESTIONS
The chat was open for 120 seconds; a lot of questions were posted by Satoshi Club community. Our guest chose some of them.
Q1 from Telegram user @NAZMP2
Where is the $OCTAGON token listed? What is the amount of your token supply?
Prof. POLY: Our native token $OCTAGON its Maximum supply will be 30M across all chains. $OCTAGON will be listed on Jetswap.
Q2 from Telegram user @coinresearcher
How can I join for the presale or private sale of Octagon tokens am I too late for this?
Prof. POLY: You can join the presale at KoalaDeFi on the 28th on September. More info will be out soon.
Q3 from Telegram user @ethcypherpunk
Will POLY DeFi be bought on centralized exchanges in the future or only on DEXs?
Prof. POLY: I am not a fan of CEXs, they cost a lot of money and don’t give enough exposure for the amount you pay.
The bigger CEXs are great so expect us on Binance one day.
Q4 from Telegram user @ronaldo_super
Hello @prof_POLY Why people call you Prof POLY?
Prof. POLY: First of all, I am probably the biggest Ronaldo fan alive so I gotta answer the man himself.
They call me professor POLY because I teach everybody how DeFi works and because I have major experience.
Q5 from Telegram user @LioKing1000
Can $OCTAGON token holders participate in IFO? And Will users other than $OCTAGON tokens have access to your NFT Marketplace?
Prof. POLY: Only octagon holders will have access to both the launchpad and NFT marketplace. We gotta give benefits to our loyal holders.
Q6 from Telegram user @kanu020
Which groups or social media pages can users follow to get latest information and stay updated about the Polydefi project?
Prof. POLY: Https://t.me/polydefi_community
Q7 from Telegram user @Rosane1a88
The POLYDeFi tiered IFO platform will help new cryptocurrency projects with raising funds to kickstart their projects, how will be these fund raising events, and how can projects apply to be part of them? Can anyone be part of POLYDeFi and use its raising funds?
Prof. POLY: Projects can apply to a google form on our website. We will do strict due diligence and not just any project will be eligible for a launch at POLYDeFi.
Only $OCTAGON holders can participate in the launches. They are also the ones raising the funds.
Q8 from Telegram user @captainprice111
Is Polydefi just a for-profit platform like other launchers, or do you have plans to help and support projects? If yes, can you tell us how polydefi will help new IFO projects?
Prof. POLY: We will have an incubator program and we will truly help all our IFO projects. A lot of launchpad make this promise but forget to live up to that promise. POLYDeFi will guide every one of its launches in its first steps into DeFi.
Q9 from Telegram user @Akira236
As You Are Launching On 28th September, is any partnership planned before the Pre-launch or we will see the partners after the Launch only?
Prof. POLY: We will have 3 partnerships established before launch.
1 was just announced: Koala DeFi.
2 more are lined up.
Q10 from Telegram user @csgonub
How many OCTAGON tokens do I need to join launchpads you are starting for funds raising?
Prof. POLY: Unfortunately, we can’t announce this yet because we will set the number just before an IFO. We need price stabilization for deciding these numbers and price stabilization will take some time.
I just recommend to scoop up as much as you can.
PART 3, QUIZ AND INFO
As usual, for the third part, Satoshi Club Team asked the chat 4 questions about PolyDeFi. A link to a Quiz form was sent into the chat. Participants had 10 minutes to answer. 300$ were distributed between the winners.
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