AMA Recap Crypto Library with InfinityPad


On 17th October 2021, InfinityPad conducted an AMA in the Crypto Library Community. Our guest is InfinityPad team. Lots of questions as usual from the Community about InfinityPad progress. The InfinityPad team took part in a very interesting AMA session which included introductions, questions from twitter, 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 InfinityPad.

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?

Andrea (InfinityPad) : Hi everyone, this is Andrea. I'm the project lead and I run tech and external relations for InfinityPad.
Andrew (InfinityPad) : I am Andrew Smith, CMO Infinitypad, looking after marketing and promotion.
Crypto Library Team : What is InfinityPad? and how does it work?

Andrew (InfinityPad) : InfinityPad is next generation launchpad that is Chain agnostic. We will launch projects across all chain starting with BSC, but not limited to polkadot, solana , MATIC and all others. We have introduced some unique features that not yet shown in any launchpad, like time weighted allocation and deflationary mechanisms. Like we burn 1% on every txnAnd give more weightage to people holding our token for long term in allocation.

Crypto Library Team : What are the special features and advantages does InfinityPad want to offer?

Andrea (InfinityPad) : It is a great and most often asked question. There are several launchpads in market so why bring another one - this is where we started back in late 2020. We 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. So, we conducted market research, looked at launchpad market evolution with historical data and developed a platform which a completely decentralized, chain-agnostic and community-owned. Now, what makes us different than other are below USPs: - Our product/platform which is truly decentralized and has auto-burn 1% and strategic burn 2% from our revenue - Our unique mechanism to reward long term token holders through our Guaranteed Time-Weighted Allocation mechanism. This would ensure that no one from a project’s community is left behind who is a true supports and we still maintain the fair pricing upon launch. The mechanism is based on a mathematical formula which calculates weightage of a participants not just based on no of tokens (which all current launchpads do) but also based on the time of holding. - We are obsessed with our moto - Community First! Our focus is to build a strong community as we strongly believe that it's the community that makes a project successful. Tech is always secondary. For instance, if you see BTC, its tech is no way near to what blockchain needs but it's still no 1 because of the community behind it.

Crypto Library Team : Please tell us about $INFP token! What are the token use case, distribution, and how to join the presale?

Andrew (InfinityPad) : So $INFP is the native token of InfinityPad Launchpad. People need to HOLD $INFP token to participate in upcoming Projects on our launchpad. We will introduce staking features too incentivize the token holders, so they get passive income in addition to be able to participate in IDO. $INFP token is required to mint NFT on our upcoming NFT launchpad. As of now no token is distributed and we have 100 MN token in supply out of that 30% will be sold in private sale , presale and public sale. As of now no token is distributed and we have 100 MN token in supply out of that 30% will be sold in private sale , presale and public sale. Rest for team, NFT , staking etc and you can refer to tokenomics section of our website or refer our WhitepaperRegarding PRESALE awe have our presale this Monday and for that people need to get Whitelisted. For Whitelisting you need to fill the gleam form. The Whitelisting will be closed in next 9-10 hours to those looking for presale need to fill it ! I will ask admin to share the link with you guys.
Andrea (InfinityPad) : Adding one point - all $INFP tokens used to mint NFTs will be burned forever. We have reserved 10% of the total supply for NFT projects - attract, invest and distribute revenue to $INFP holders.

Crypto Library Team : Could you give us some information about your roadmap, your milestones, and also your future plans?

Andrea (InfinityPad) : We have been building IndinityPad since late 2020 and we have come very far since then. We were planning to launch our MVP already in June but market conditions changed so our strategy and we decided to improve our product further. Long story short, in Q3 our focus was to improve our product, start marketing reachout, and plan fundraising events such us private sale. We are slightly behind in terms of raising funds but we're catching up. Oct is our month to finish all fundraising and launch our product. Nov and Dec, we are focused on Sol integration from tech point of view and launch at least 5-6 solid and innovative projects on our platform. Going into 2022, our goal is to integrate other chains starting with Polkadot, 2-3 CEX listings and build a solid pipeline of NFT-gaming projects.
Crypto Library Team : $INFP is a revolutionary launch pad that is chain-agnostic and rewards long-term holders. Another launch pad project, so tell us who are you partnering with to ensure the security, transparency and credibility of the IDO project to be launched on your platform?

Andrew (InfinityPad) : Yes you are right here, $INFP is a revolutionary launch pad that is chain-agnostic and rewards long-term holders. We have time weighted machanism to reward early supporter. We have partnered with InterFi Netowrk, one of the Canadian Form to take care of Sucurity Audit and KYC of projects to be launced with us, that to give confidence and show credibility. 

Andrea (InfinityPad) : Just to reemphasize on the fact that all IDOs on our platform must pass audit and security checks by our partner to make sure that we bring solid projects and protect our community's interest.

Crypto Library Team : While reviewing, I couldn't find any exact information about your tokennomics. So can you have an overview of the $INFP Tokenomics Token? What are the use cases of tokens & how do you capture the value of the ecosystem you are building?

Andrea (InfinityPad) : Information on tokenomics is already posted on our website as well as in whitepaper. So, I'm not sure why you couldn't find the information. But, let me quickly give an overview: 
  • 100m total supply 
  • 30m for sale with majority to public to build a solid community, no VCs or whales 
  • 10m reserved for NFT projects 30m for staking rewards plus liquidity 
  • 10m for partnerships 10m for team and advisors, locked for 1 year 
  • 5m for airdrop over the next three year period at different times 
  • 5m marketing and ops
Now, let's talk about capturing value for our community in our ecosystem:
  • $INFP is needed to participate in IDOs launched on our platform 
  • $INFP is needed to mint NFTs on our NFT launchpad as Andrew mentioned 
  • $INFP is needed to be eligible for revenue generated through out strategic investments and partnerships in the NFT sector. In addition to this, 1% is burned on every transaction involving
  • $INFP. Then we are using 2% revenue from our ops to buyback and burn, and 50% of that to provide strategic price support tp $INFP so that our community can still be in green during bear market.
Crypto Library Team : In most projects, people usually buy tokens to participate in an IDO launch, but then sell their tokens immediately after launch, which influences the price volatility and that's not good for the project. How does InfinityPad plan to overcome this hurdle?

Andrea (InfinityPad) : This is a good one and it's how we started building InfinityPad. The current launchpads in the market are missing rewarding their long term holders and/or a project supporters. People usually buy tokens for an IDO and then sell upon listing. This creates pump and dump scenarios for the projects and more than often, a project’s true community is left behind during its IDO. Now, if you think as an investor you are holding tokens of launchpad for let's say 6 months and then there is an IDO next week. I come tomorrow, buy same number of tokens as you and apply for the whitelisting. So, you as an old investor has absolutely no benefit or more weight for supporting the launchpad for so long. That's what we are addressing but adding weightage by TIME. In this case, one person can have 200 tokens but if s/he is holding those tokens for one year then anyone buying 200 tokens after her will ALWAYS have less weightage than her. That's how we strongly believe is the best way to deliver value to our supports who are with us from day 1. So, time will play a crucial role and time is what makes one person a long term holder or short term holder, not the number of tokens. So, we're using time as the driving factor thus rewarding long term holders over newcomers. So this way, we ensure that people just don't buy and sell $INFP as token holding duration is key factor in our allocation.

Crypto Library Team : NFTs is hot topic right now and many project try to reach more user from here. Do you have any plan to include NFTs in InfinityPad? Could you tell us if there will be NFTs plans in InfinityPad?

Andrew (InfinityPad) : Yes! As mentioned earlier we have 10% token Reserved for development of our NFT platform and $INFP will be used to buy and mint NFT on our platform. Our priority focus is solana integration and after that we focus on NFT on solana as ETH gas fees is major hurdle now.

Crypto Library Team :  It seems grey about Guaranteed Time allocation features, what is exactly to determine the user to have an allocation? the longer time in a pool or the amount of $INFP holder?cause people will have a chance to just buy $INFP from other swap?

Andrew (InfinityPad) : So as Andrea mentioned in a previous answer ! Time weighted take into consideration both quantity and time. The more you hold , and the longer the hold higer the weightage. So a small investor supporting us from early days and say hold 1000 tokens for 30 days May have more weighted then someone bought 10K token on last day

Crypto Library Team : After $INFP private sale, many users manifested that they hadn't been able in participate, even some wjitelisted. Why did the sale end so soon, does it mean that the team couldn't reach community's?

Andrea (InfinityPad) : For our private sale, our goal was to raise only 200 BNB which is roughly $100k only. We are fortunate to have a strong community and investors who committed $5m for private sale. So, you could imagine how difficult it was for us to choose who can participate and who can't. Now, people who were whitelisted and couldn't participated because we reached our goal before they could act. That's very normal. We whitelisted 250 addresses, so if everyone goes for the max that means 750 BNB but our goal was only 200 BNB. We had roughly 80 people who managed to contribute before we hit our hardcap. That's why it ended soon. We can't accept more than our goal, it's not good for us or for the community. Anyone who missed $INFP private sale can participate in our presale tomorrow. Of course whitelisted is needed. And I'm proud to say, even it sounds crazy to us, we have over 7k people interested in participating in our presale tomorrow. That's massive. Taking min investment that means 3500 BNB commitment for a 200 BNB hardcap. So, people need to be fast and available when we conduct these sales for the community.

Crypto Library Team : While you build your project, do you take into account community feedbacks and demands?While you build your project, do you take into account community feedbacks and demands?

(InfinityPad) : For us Community First! That's why we have over 50k members in telegram and around 45k on twitter. Our whole idea to build InfinityPad is to develop a product which is people oriented not VC or a project oriented. As we launch our MVP after public sale, we'll host several feedback sessions with our community to get their feedback on product and improve it accordingly. Also, our goal is to get community's feedback on the type of project we bring and invest through InfinityPad. That's InfinityPad is a truly decentralized platform giving power back to people.