AMA Recap Crypto Library with PolyDefi


On 06th September 2021, PolyDefi conducted an AMA in the Crypto Library Community. Our guest is Prof Poly. Lots of questions as usual from the Community about PolyDefi progress. The PolyDefi team took part in a very interesting AMA session which included introductions, and a live AMA session with the Crypto Library community. If you missed the AMA in person, read this recap for a deeper insight into PolyDefi.

Let’s take a look at the most interesting points of our conversation. 

Crypto Library Team : So, before we start the AMA could you please introduce yourself to our community?

Prof Poly (PolyDefi) : My name is Prof. POLY and I am the CEO and founder of POLYDeFi. In real life I set up multiple succesful businesses in the; sports branche, clothing branche and in the marketing branche. After realising 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 bullrun exceeded all my expectations and I invested in ICO after ICO. Life was good until the Bullmarket 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.
Crypto Library Team : What is PolyDeFi? and how does it work?

Prof Poly (PolyDefi) : POLYDeFi is a transparent next generation tiered IFO launchpad running on the Polygon chain. Polygon, previously known as MATIC network, is an interchain scalability solution that gives an infrastructure for creating blockchain networks that can interface with each other. 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 a 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 an upmost secure way on the Polygon.

Crypto Library Team : Could you give us some reason why we have to choose PolyDeFi than other project out there?

Prof Poly (PolyDefi) : With POLYDeFi you will get all the benefits from other launchpads combined. The main part is that you still get rewards while participating in IFO launches. Most IFO launchpads use a snapshot system which is not even remotely working imo or they either require tokens to be staked into a tier (without getting yield in return for staking). POLYDeFi will require locking LP tokens inside a farm to confirm IFO participation, when locked in, yield will still be generated. The more LP tokens somebody has, the higher his/her tier.

Crypto Library Team : Please tell us about $OCTAGON token! What are the token use-case, distribution, and where we can buy it?

Prof Poly (PolyDefi) : $OCTAGON is currently not for sale yet. We are scheduling our launch for around the 20th of September. We will probably list our token on Apeswap but nothing is confirmed yet. Here follow some $OCTAGON usecases:
  •  Maximum supply of 30,000,000 tokens
  •  Access to exclusive IFO launches
  •  Early access to new project pools/farms
  •  Yieldfarming token
  •  Manual burn mechanism on special events and when needed
  •  Access to unique POLYDeFi features and contests
  •  Access to the POLYDeFi NFT marketplace
  •  Access to the POLYDeFi casino
Crypto Library Team : Could you give us some information about your roadmap, your milestones, and also your future plans?

Prof Poly (PolyDefi) : The ultimate goal for POLYDeFi is to become an all-in-one DeFi platform where the POLYDeFi investors would never have to leave the platform for anything they desire. So far we have managed to create a successful team that is going to take over DeFi and we completed our whitelist a few days ago. Our marketing plan is starting today until launchday. We are planning to launch around the 20th of September. In its MVP $OCTAGON will be a yieldfarming token until we have developed our launchpad platform.
Crypto Library Team : Do you plan to burn tokens to increase token value and attract investors to invest? Which doubles the customer demand per project?

Prof Poly (PolyDefi) : Security is the most important. Nothing is more important for a launchpad than community. Community needs to feel safe and that is what POLYDeFi will assure.

Crypto Library Team : Can you explain which one is your top priority? Security Product Partnership, or Token price?

Prof Poly (PolyDefi) : Security is the most important. Nothing is more important for a launchpad than community. Community needs to feel safe and that is what POLYDeFi will assure.

Crypto Library Team : I want to invest to your project. Where I can buy your token? Is it available on any exchange?

Prof Poly (PolyDefi) : $OCTAGON is currently not for sale yet so be aware of any scammers around town. We are planning to launch around the 20th of this month.

Crypto Library Team : Are you planning to promote your project in countries / regions where English is not good? Do you have a local community for them to better understand your project?

Prof Poly (PolyDefi) : In the beginning we will only focus on our english community, later we will expand to more language based communities. One step at a time!

Crypto Library Team : Do you have an AUDIT certificate or are you working to AUDIT your project, so that its security becomes more secure and reliable?

Prof Poly (PolyDefi) : We are applying for an audit this week at paladin (backed by rugdoc), which is imo the best audit company around.

Crypto Library Team : Are we should hold $OCTAGON to be participate in IFO projects?

Prof Poly (PolyDefi) : Yess to participate in POLYDeFi IFOs you will need to hold OCTAGON/USDC LP and lock it in our native farm when the time comes.

Crypto Library Team : Can you please tell us the story behind your project name? How did you get inspired to build your project? How do you think this name will affect people?

Prof Poly (PolyDefi) : Polydefi is inspired by polygon and the fact that POLY means “a lot” in greek, this is exactly what we want polydefi to be going to do.

Crypto Library Team : Project team has a big role in building up a project to its maximum capacity. So can you please tell us more about your team and their experiences?

Prof Poly (PolyDefi) : The core team has huge experience on the polygon chain, eth network and bsc network. We are all around for 1.5 years already and we know how the game is played.

Crypto Library Team : Will the NFT be worth a few million dollars soon? Do you plan to add Nft ecosystem to your project?

Prof Poly (PolyDefi) : Hell yeahh it will, the NFT platform will come in a later stage tho. But it is on our roadmap for sure.

Crypto Library Team : Most users only care about immediate benefits rather than the real value of the project in the long-term? How can Your project convince users invest to your platform in the long-term?

Prof Poly (PolyDefi) : Longterm POLYDeFi will get better and better because we are aiming to become an all-in-one platform. It would be silly to leave before all the developments have finished.