Infinity Pad AMA Transcript

"InfinityPad is a next level launchpad to help raise capital across multiple blockchains on a single platform in a fully transparent and decentralized way by connecting projects and communities. "

By
BSCNews
on
October 31, 2021
Category:
AMA

Andrew (BSC.News)

Hello everyone and welcome to the AMA with Infinity Pad! 

Today we have the pleasure of having Andrea and Andrew from Infinity Pad joining us to talk about their platform

Great to have you guys here :)

Andrea V

Hi everyone, happy to be here. Thanks for the opportunity!

Andrew

Hello All

Andrew (BSC.News)

So how this will work is, the AMA will consist of two rounds. The first round will be us going through the questions that I had prepared for you before hand. And then the second round will be a community round where I will open up the room to allow questions to come in. The second round is also where we will select the two winners of our giveaway

Does that sound good with you guys?

Andrea V

Sounds good to me.

Andrew (BSC.News)

Great so to start things off


1. Please introduce yourself and the team behind Infinity Pad.


Andrew

Let me take this opportunity to introduce ourself

Hi Everyone, this is Andrew Smith, CMO of infinityPad along with Andrea V our project lead and tech lead .

I look after marketing & comms and overall operations. We’re a team of seven at this point, 1 lead dev and 2 engineers, 2 community managers reporting to CMO, one BD person. We’re expanding our team to recruit more BD and research folks

So, if anyone is interested in joining us to find the best projects to launch, please ping me or Andrea

Andrew (BSC.News)

Okay nice thank you for that intro!


2. What is Infinity Pad? Why does it exist?


Andrea V

Let me answer that, Andrew.

What is InfintiyPad. In summary, InfinityPad is a next generation launchpad that is chain-agnostic and community owned. We will launch projects across all chains starting with BSC, but not limited to polkadot, solana , MATIC and all others. It is the first auto-burn powered launchpad in crypto space.

Now why does it exist? That's a great question.

There are several launchpads in the market so why bring another one — this is where we started back in late 2020. We have witnessed great innovations in IDO launchpad space since late 2020 but there is still a lot of room for further innovation and improvement to bring an effective and efficient IDO launchpad in crypto space.

that's where we started late last year.

The current launchpads in the market are missing rewarding their long term holders and/or project supporters. People usually buy launchpad tokens before an IDO to try their  luck  and then sell once an IDO is finished. This creates pump and dump scenarios for the launchpad pricing and more than often, a project’s true community is left behind during its IDO.

Hence, we conducted in-depth market research with the above-mentioned points in mind, looked at launchpad market evolution with historical data and developed a platform that is truly chain-agnostic, community-owned and rewards long term holders using time-weighted allocations. That’s how InfinityPad came into existence.

Andrew (BSC.News)

Okay nice

Yeah that concept of people dumping tokens as soon as they get their allocation is a big reason that launchpads to me personally makes me stray away from

Even if I really do believe in their platform

Andrea V

Couldn't agree more on this.

Andrew (BSC.News)

So Im glad you brought up being Chain-agnostic because I wanted to get more into that


3. What does it mean to be Chain-agnostic? Why is this so important for Infinity Pad?


Andrea V

Since I manage tech so I'll take that too.

Chain agnostic literally means it doesn’t matter which blockchain a project is launching on, the projects can still raise funds from their supporters on different blockchains. You could also use cross-chain but that’s an oversold word in the launchpad market.

The future we imagine is that a BSC project raising funds from BSC, DOT, and ETH folks at the same time. This is at our core and it’s important to bring a seamless fundraising experience to projects as well as to their communities. We exist because of the community and we’re striving to make the community's participation in IDOs as painless as possible. We're developing a product to answer a simple question - Why do I as a participant need to juggle with 5-6 blockchains? This is just the starting as there will be more blockchains in the future. So, we need a product that sits either in the middle of all these or at the top to provide an improved user participation experience.

Andrew (BSC.News)

Okay nice! I did not know what that meant but that perfectly describes what I was looking for in launchpads

A lot of launchpads that I see that are cross platform only allows you to invest in projects that are on the chain you hold the token in

But very neat!

Andrea V

Exactly. but we need more than that if we're to adopt and support blockchain projects.

Andrew (BSC.News)

Exactly

So let's circle back real quick to the problems that exist right now for other launchpads


4. What problems in launchpads have you noticed that Infinity Pad can solve?


Andrew

I believe Andrea briefly touched base on this in above explanation, let me dig into it more

Andrew (BSC.News)

Yup, please do

Andrew

---There was a market gap in the launchpad space. There were launchpads which were/are very successful but often they failed to deliver any incentive to their supporters from day 1.

---The most crucial is the time of holding issue that we didn’t see any launchpad even trying to resolve. 

---Every launchpad was leveraging cross-chain buzzword but no one was actually progressing towards the true cross-chain functionality.

By bringing a true chain-agnostic platform we’re addressing the cross-chain issue. Now, the very crucial issue of not rewarding long term holders is what our time-weighted allocation method is gonna solve.

Also quality of projects is another issue , so we are not keen to go for any MEME INU type token and NFT / Gaming would be our priority keeping the current market scenario

Andrew (BSC.News)

Yeah I definitely see that resonating with a lot of launchpads that I have used before where I felt as though after each IDO there was no point of holding the token

So let's talk about your token


5. What is $INFP? How is it used on your platform?


Andrew

Let me take this

$INFP, is the native token for InfinityPad, currently issued on BSC. 

People need to hold $INFP token to participate in IDO on our launchpad and can be used for our upcoming NFT Platform where one can buy/sell or Mint NFTs using $INFP token. You can refer to this medium article for more details about our tier structure and $INFP holdings requirement

Andrew (BSC.News)

Awesome thanks!

Real quick, for the guaranteed allocations. How much is guaranteed?

Andrew

20% of pool for each trier

+ special tier

Andrew (BSC.News)

Oh I see, sorry I must have missed that 😅

Andrew

Yes the medium article is bit lengthy but worth a read . Hope people can focus later so I put link here

Andrew (BSC.News)

So one thing I noticed about your token was the deflationary mechanism

So with that, my next question is


6. Can you tell us more about the Deflationary Mechanism and how it works?


Andrea V

I'll take that, Andrew

Andrew

We have 2 Andrew and an Andrea here

Really confused 😐

Andrew (BSC.News)

Hahaha

Andrea V

This is a feature you don't see in the market. But it is pretty easy and straightforward. We have 2% (initially 1% but changed after community’s feedback) burn on every transaction and it’s burned forever. It’s not like other projects where they have their own burn address and all burned tokens are stored there. Our burned tokens go to BSC’s official burned address. So that means it’s removed from the total supply and not reported. 

Initially it was 1% but our community voted that we should set it as 2%. InfinityPad is truly community-owned so  we had not choice but to change it. So, now 2% of every transaction is burned forever.

Then we have another 2% of every IDO burn i.e., we’ll use the revenue generated by our IDO operations and other streams to do buy back and burn but in a different way. The 50% of the burn reserved will be used to market buy and but the other 50% will be kept and will only be used to market buy at key price support points - strategic burn. This would help us to stabilize price during bear market conditions.

Also, as Andrew (InfinityPad) posted that image, I’m happy to say that since our launch, 24th Oct, we’ve burned approx. 2m $INFP tokens, that’s 2% the total supply and approx. 8% of the circulating supply. 

The deflationary is going to help us in the long run to ensure that our $INFP token's value is increasing and our holders' share is also increasing with every transaction that happens using $INFP token thus creating a fly-wheel affect.

Andrea V

sorry, I take long time to explain things but I want to make sure that the message is clearly delivered to the audience.

Andrew (BSC.News)

Okay I see and this reflects your goals to create a launchpad that avoids the whole pump and dump scenario

Andrea V

true!


7. What sets you apart from your competition?


Andrea V

I'll take that too, Andrew (BSC).

Andrew (BSC.News)

Sounds good

Andrea V

This is more or less covered in earlier answers as well. But here is quick summary:

Three key differentiators:  

- Deflationary mechanism with 2% burn per transaction and per IDO revenue

- Time-weighted allocation method to reward long term holders and avoiding pump/dump cycles in $INFP pricing.

- True cross-chain platform to help project raise funds from multiple blockchains simultaneously thus eliminating a participant's pain to juggle between blockchain.

It's our goal and it all boils down to creating a solid launchpad that projects can use to raise funds and communities can continue to be rewarded for their holdings.

Andrew (BSC.News)

Nice!


8. Is your platform audited? How can you ensure users that your platform is safe to use?


Andrew

Let me answer this

Andrew (BSC.News)

Sure

Andrew

Yes, InfinityPad smart contract is audited by InterFi Network, a renowned Canada-based company expert in smart contract audits and compliance. InterFi has audited more than 500,000 solidity code-lines on multiple smart chains. Our contracts were audited with highest safety scores without any bug or vulnerability found.

In addition to this, we have partnered with them to be our official auditor so that every project goes through their auditing process before IDO on InfinityPad and make the platform more safe to use.

We will go another round of audit once for our launchpad or other cross chain platform/ staking protocol , for additional round of security

Andrew (BSC.News)

Oh nice so every project that you bring on goes through an auditing process?

Andrew

Yes

Or may be KYC too

We don’t need KYC for investors as we believe that not required in decentralised world

But KYC for project team , we are looking for

Andrew (BSC.News)

Yeah that's awesome. A pretty extensive vetting process


9. Any exciting news you would like to announce here today?


Andrew

Having AMA with you guys is already an exciting news for our community 🔥

We do have some upcoming exciting news but we’re still negotiating with partners so we can’t disclose those. but...

we do have one news that we are happy to share - we’ve started SOL integration for our launchpad and aim to get it closed by Jan 2022 if not Dec 2021. We’re super excited about it as SOL ecosystem is exploding and it will continue to grow.

And of course we are going to announce 📣 our next IDO , in-fact our first IDO  very soon

Andrew (BSC.News)

Thank you for those kind words it was great having you on here!

Andrew

Welcome

Andrew (BSC.News)

Awesome! I work at BSC news but I love the SOL network haha

I'll be on that lookout for that

Andrew

Sure

Andrew (BSC.News)

Would you be able to provide us with links to your social media accounts so that our community can go check out Infinity Pad?

Andrea V

We all love SOL but we need more blockchains for a broader adoption!

@AndyInfinity pls share?

Andrew

here you go !!

Socials:

Website:

Twitter

Telegram:

Medium:

We are on CoinGecko, Coinmarketcap too

Andrew (BSC.News)

Fantastic, make sure to go and check out InfinityPad everyone!


Tags:
BSCNews

Text Link

Lorem ipsum dolor sit amet, consectetur adipiscing elit. Suspendisse varius enim in eros elementum tristique. Duis cursus, mi quis viverra ornare, eros dolor interdum nulla, ut commodo diam libero vitae erat. Aenean faucibus nibh et justo cursus id rutrum lorem imperdiet. Nunc ut sem vitae risus tristique posuere.