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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 TrustPad and our guests were @LeChiffre777 @edengram @t_ssc. The AMA took place on 4 May.
The AMA session was divided into 3 parts with a total crypto reward pool of 500$
In this AMA Recap we will try to summarise the most interesting points for you.
Part 1?—?introduction and questions from the Telegram community
Paul Mont | Satoshi Club: Hello Satoshi Clubbers! Today we are excited to announce our AMA session with TrustPad! Welcome to Satoshi Club
Gold Rocket | Satoshi Clu: Today our guests are @LeChiffre777 @edengram @t_ssc!
LE CHIFFRE @TrustPad?—?WILL NEVER DM YOU FIRST: Hey guys! Super excited to be here.
W
| tokenova: Hi guys, great to be here!
Paul Mont | Satoshi Club: Welcome guys! Great to have you here!
W
| tokenova: Thanks for having us
Paul Mont | Satoshi Club: How are you today guys?
S | tokenova: Doing well thanks?—?Busy!
Gold Rocket | Satoshi Clu: We are very glad to conducting AMA with TrustPad!
LE CHIFFRE @TrustPad?—?WILL NEVER DM YOU FIRST: Doing very well, thank you! Busy times, the community is growing fast and we’re inching closer to our launch!
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| tokenova: Rather splendid, how about you?
Paul Mont | Satoshi Club: I can picture that, given all the hype that’s been building up over TrustPad!
Been following the news closely, witnessing an impressive community growth and support already!
Gold Rocket | Satoshi Clu: Guys! let’s start with the intro!
Paul Mont | Satoshi Club : Yes, let’s start by introducing yourselves please. How did you get to be involved in crypto & TrustPad?
Gold Rocket | Satoshi Clu: Tell us please also about your position in TrustPad.
LE CHIFFRE @TrustPad?—?WILL NEVER DM YOU FIRST: Most of the team have been in the space since 2016/2017 pre-bull run, coming from traditional tech and finance backgrounds. Having a multi-industry background.
Gold Rocket | Satoshi Clu: You must have a great experience
LE CHIFFRE @TrustPad?—?WILL NEVER DM YOU FIRST: Besides the core team?—?very early on we decided to partner up with another talented team and look at how we could innvoate the launchpad space.
S | tokenova: That’s where @edengram and I came into the team
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| tokenova: Yeah, we started working with the core team from the start and continue to build a closer relationship with the long term in mind
Paul Mont | Satoshi Club: How many core team members are involved with TrustPad?
S | tokenova: We’re very interested in the academic side of the blockchain ecosystem as well as using all our multi-industry experience to help advise projects and really turn basic ideas into long term sustainable plans with real value. I suppose you could see us a group who want to encourage the adoption of blockchain technology into more of society to take advantage of the wealth of benefits its can provide. We were very interested in the concept of a ‘rug-proof’ launchpad as something that would really help promote this goal. Add in the multi-chain aspect and you have a project which lowers the two main barriers to mass adoption?—?fear and lack of technology expertise.
LE CHIFFRE @TrustPad?—?WILL NEVER DM YOU FIRST: We currently have 4 core team members working full time on TrustPad.
S | tokenova: So there were clear synergies in our aims and we decided to really get involved to ensure that TrustPad achieved it’s goals as a platform
Gold Rocket | Satoshi Clu: Thanks a lot for the intro! ready to move on to questions from the community?
LE CHIFFRE @TrustPad?—?WILL NEVER DM YOU FIRST: and Tokenova also working very close with the core team, and it has been working extremely well until now, as we share the same vision.
Yes, of course!
Paul Mont | Satoshi Club: It sounds great
Q1 from Telegram User @yellowchamp
TrustPad is being released in 5 chains which are the Ethereum,Solana,BSC,Polkadot and in Cardano. So,since your platform is connected to this 5 chain,does any projects that is affiliated with this chains has a chance to launch their IDO in your platform? Why do you need to connect with 5 chains in TrustPad? And since you are connected with those 5 chains mentioned,do you have plan to integrate more chains in the future? Thank you
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| tokenova: Sure, we’ve also focused a lot on the ecosystem we are keen to build around the launchpad and create a more seamless experience for all
Gold Rocket | Satoshi Clu: Awesome
Paul Mont | Satoshi Club: I find that a user-centric approach & focus is almost always the best approach
Let’s move onto the community questions part, shall we?
LE CHIFFRE @TrustPad?—?WILL NEVER DM YOU FIRST: Good question.
Binance Smart Chain and Ethereum will be integrated on day one, and we have a clear goal to integrate Solana, Matic/Polygon and Cardano by Q4 2021.
Multi-chain Integrations makes it possible for projects to launch their IDOs simultaneously on multiple chains?—?seamlessly
S | tokenova: We couldnt agree more. A launchpad is a community space with interested parties?—?We are keen to provide a great user experience for our community, an exciting environment for our strategic partners to help grow a community and bring amazing projects to the table and very importantly for us?—?we want to be project focussed… helping the projects who use us to launch have the best opportunities and build the best businesses by providing them with a wealth of support from our partners
Paul Mont | Satoshi Club: I agree wholehartedly guys, Integrations and interoperability are the future and you’re moving in the right way!
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| tokenova: It’s about putting the projects first so investors can trust them more, and rest assured that everyone in our ecosystem has the best interests of the projects in mind. It’s why we like to consider it as a university style system?—?an alumni network supported by faculties
Paul Mont | Satoshi Club: Brilliant, thank you for the comprehensive answer
Gold Rocket | Satoshi Clu: I love that you take care of the safety of the community.
By the way, if we talk about security, have you done an audit or are you planning?
LE CHIFFRE @TrustPad?—?WILL NEVER DM YOU FIRST: We’ve one audit done by QuillAudits already, and the second audit is currently in progress by Certik, and should be done very soon.
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| tokenova: It’s important to build trust wherever possible in this space because it is naturally rather void of the human touch, which we all tend to rely on to build trust organically.
Gold Rocket | Satoshi Clu: These are famous names! Thank you very much for sharing
Ready for the next question?
LE CHIFFRE @TrustPad?—?WILL NEVER DM YOU FIRST: Sure!
Q2 from Telegram User @h1drX
I was reviewing your website and I was struck by two sections that are not yet available, staking and levels. First of all, I would like you to explain to me what “levels” are, what role will it play in the project? And finally, I would like to know a little about staking, is it going to bring new or unique features? Will it have advantageous features?
W
| tokenova: Levels is our term for tiers, at present we are working closely with partners and harnessing academic research to consider the most optimal approach before announcing more details regarding levels
On top of this, we are exploring ways to disrupt the traditional launchpad model and enable different access points to enter IDOs
Paul Mont | Satoshi Club: So not only one way but different and new ways to enter TrustPad IDOs … It sounds great!
W
| tokenova: For example, TalentPad?—?our NFT launchpad?—?will have drops which can reward holders of the NFT with IDO access or a level up for their current position. All of this is to be confirmed but should give an idea of how we are looking to disrupt the launchpad space
Plus, we are looking to partner with a project to bring dynamic elements to IDO allocations
S | tokenova: This is key for us. As I mentioned we take an academic view of the launchpad space and have identified the ‘pain points’ such as many people being priced out and unable to participate. We don’t want our community to be priced out and move on to the next launchpad, we have exciting ways of getting them in?—?to cater to all types of investors
Gold Rocket | Satoshi Clu: Please tell us about the main features that you are proud of today
LE CHIFFRE @TrustPad?—?WILL NEVER DM YOU FIRST: We decided to call the different “Tiers” we’ll have for “Levels”.
The different levels will bring you different benefits?—?to reward loyalty. As many of you are already aware of, a common issue and complaint with the current tier systems used by many launchpads using guaranteed allocations, are the extremely small allocations, even for investors/users staking a lot of tokens.
This is something we’ve had in mind when designing our Level system, and something we are proud to say, we have addressed.
An example: One of our lower levels/tiers will have an interesting lottery based system using VRF technology from a very big partner that will be announced soon.
S | tokenova: Where do we start?
W
| tokenova: Haha
I’m really proud of everything we’ve accomplished so far with TrustPad. In particular the underlying ecosystem that’s in the works…
Paul Mont | Satoshi Club: Haha, we want to know
S | tokenova: We’re proud to say that we’ve been able to build that strong backend network already so our community will already benefit from an immense volume of potential projects from day one?—?our problem will be deciding on the best ones!
Obviously we’re keen to showcase our technology as the first Mulitchain launchpad with built in safety features for all involved
Paul Mont | Satoshi Club: We have a community question that will touch upon on that aspect, later on
Gold Rocket | Satoshi Clu: I really like the multi-chain idea a lot. it gives a lot of freedom
W
| tokenova:
Here’s the one pager btw, if anyone fancied a gander
it’s all about developing a seamless experience
Gold Rocket | Satoshi Clu: Thank you very much for your answers and clarifications. Ready for the next question?
Paul Mont | Satoshi Club: I love it, looks fantastic, thanks for sharing!
LE CHIFFRE @TrustPad?—?WILL NEVER DM YOU FIRST: Yes!
Q3 from Telegram User @Jonahapagu
Your project will be launching it’s NFT Launchpad called TalentPAD and also an NFT Marketplace featuring exclusive drops from undiscovered and established creators… what should we be expecting from this launch, what will be the features of your NFT marketplace, will anyone be able to create and sell their NFT’s on your marketplace, how will the creators be sourced, and is there a date yet for the launch of TalentPad and your NFT marketplace
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| tokenova: Being community first this is something we are happy to develop with the community and our partners. There are many models in play for marketplaces, our initial vision is to showcase talent and the community can certainly help govern that
S | tokenova: Its part of the nature of DeFi and decentralised communities
This does allow me to explain that as a launchpad we’re keen to remain agile, we can adapt all of the interactions with the platform to suit the market and the sentiment at the time
Paul Mont | Satoshi Club: So community will br able to influence, for example, which NFT project is gonna be showcased next on the TalentPAD platform?
S | tokenova: a bit more work for us as a team but ultimately this benefits the users of the launchpad
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| tokenova: This is one idea being strongly considered and there are examples across the market which give greater weight to the credible creators already established on the platform
Paul Mont | Satoshi Club: It’s truly an admiring vision! I’m sure your community is already enthusiastic by TrustPad’s underlying philosophy!
Gold Rocket | Satoshi Clu: Thank you very much for your reply! Ready for the next question?
S | tokenova: Keep them coming!
Q4 from Telegram User @highpee
One of the key features of TrustPad is that you will only be launching “hand-picked” high-quality projects. It is assuring to know that you intend to prioritise quality. I wish to know who will be responsible for “hand-picking” these projects. Will this hand-picking be done solely by the team or do the process involves contributions or voting from the community? What rug-proof mechanism will TrustPad use to secure the trust and confidence of investors that any of the handpicked projects promoted on your pads are safe and how will you guarantee liquidity of post-launch?
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| tokenova: Thanks, and remember the main idea with TalentPad is also to be able to combine IDOs directly with the NFT space
S | tokenova: As mentioned previously the ‘faculty’ of partners (wide ranging from large established VCs to enthusiatic newcomers in the space, from all over the globe and many different industries) are all on board with our vision?—?They’re keen to identify the best projects which will continue to grow and will help us to find them.
Ultimately the responsibilty rests with the team, but we have looked into ways in which the community may be able to help decide who to launch?—?we would obviously present them with the correct information.
LE CHIFFRE @TrustPad?—?WILL NEVER DM YOU FIRST: Great question.
We are extremely strict (strict vetting process) on projects launching on TrustPad. We’re all for a “Quality over Quantity” approach.
Some of the “Rug-Proof” mechanisms in place are the following: Instant liquidity locks on listing, at least 30% of the raised funds needs to be locked as liquidity for a certain amount of time. Mandatory and strict vesting of team and developer tokens. No proxy contracts, or minting, and obviously audited smart contracts by reputable auditors before IDO. These are just some of the mechanisms in place.
All to protect the investors.
Paul Mont | Satoshi Club: Safety goes first, always. Your stakeholders will be thankful for this
Gold Rocket | Satoshi Clu: this is a rather original solution
LE CHIFFRE @TrustPad?—?WILL NEVER DM YOU FIRST: Always, we’re aiming to build a launchpad that ensures the safety of all funds, for both investors and projects.
Paul Mont | Satoshi Club: Thank you for the exciting answers people, ready for the next question?
W
| tokenova: Shoot
S | tokenova: please do
Q5 from Telegram User @Hexus86
With Launchpads continuing to pop up more and more frequently, we’re seeing a trend of difficulty in finding balance between “guaranteed allocations” for IDOs vs growing the platforms member-base. How will TPAD handle this delicate balance to keep both allocations fair, and not end up over-saturated where members struggle to get in?
Paul Mont | Satoshi Club: This is indeed a very common tradeoff for “traditional” launchpads
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| tokenova: This is exactly the kind of area where we are looking to disrupt the launchpad space
We’ve been working with our think tank like partners to academically assess the options and find a happy medium. There’s no reason why a blended approach can’t be used with some guaranteed allocation plus additional methods. We continue to explore this area and will likely not stop, as the market continues to evolve and the goal posts move as a result
S | tokenova: This is a very difficult aspect of the launchpad space. We will be using our academic background to conduct research here and develop ways to address this issue?—?hence the innovation of the launchpad system being one of our ultimate goals.
LE CHIFFRE @TrustPad?—?WILL NEVER DM YOU FIRST: As mentioned earlier, we are well aware of this problem, and this is something we have had in mind when designing our Level/Tier system. It’s hard to make everyone happy, but we really believe we’ve found a good balance, and it will be revealed very soon!
S | tokenova: it needs to be long-term and sustainable to survive the bear market and create legitimacy for continued growth
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| tokenova: We’ve also got an exciting partner on board to add the dynamic element mentioned earlier, which will reward long term holders
LE CHIFFRE @TrustPad?—?WILL NEVER DM YOU FIRST: It’s always possible to optimize Tiers/Level systems over time too by taking in feedback from the community
S | tokenova: Recognising that different investor types have different goals is key to the success of all launchpads
Paul Mont | Satoshi Club: It’s surely gonna be a breath of fresh air and a welcome innovation addressing all the common IDO issues
I hope you guys will manage to pull this off egregiously!
Gold Rocket | Satoshi Clu: [04.05.21 19:54]
Thank you very much for such a detailed answer!
Gold Rocket | Satoshi Clu: Now I suggest to proceed to the last question of this part
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| tokenova: Let’s go
LE CHIFFRE @TrustPad?—?WILL NEVER DM YOU FIRST: Let’s go!
Q6 from Telegram User @NataliyaKil
Having looked at your tokenomics, I drew attention to one of the token distribution points?—?Black Hole. What is this section of tokenomics, why did you name it that way and what% does it have of the total supply of tokens?
LE CHIFFRE @TrustPad?—?WILL NEVER DM YOU FIRST: Great question, and this is another thing that makes TrustPad stand out.
The native token ($TPAD) has a 2% re-distribution fee on each transaction that gets re-distributed proportionally between all holders of $TPAD. The fee is adjustable (0–5%)
The” Black Hole” is basically just another name for the Burn Address.
2% (2M) of the total supply goes to the Black Hole (burn address) on listing. This address accumulates more tokens on each transaction because of the re-distribution fee, thereby effectively removing them from circulation, this will increase the scarcity and value of each $TPAD over time.
Dynamic Deflation?—?adds a highly deflationary mechanism to TrustPad
Paul Mont | Satoshi Club: I also read the fee is adjustable up to a 5%? How so? Is that democratically decided by token holders via governance?
Gold Rocket | Satoshi Clu: Cool sense of humor
LE CHIFFRE @TrustPad?—?WILL NEVER DM YOU FIRST: Yes, so in the future the community can decide to remove the fee totally too, hence why it’s adjustable (0–5%)
Paul Mont | Satoshi Club: You’re really empowering your community in any possible way
LE CHIFFRE @TrustPad?—?WILL NEVER DM YOU FIRST: Absolutely.
S | tokenova: We’re nothing without an active community!
Paul Mont | Satoshi Club:So true, community is the heart of any project
Thank you very much for the clear answers @LeChiffre777 @edengram @t_ssc !
If you are ready, we can proceed with the live segment of the AMA. Time to interact with our community members
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| tokenova: Yes please, excited for it
Part 2?—?live questions from the Telegram community
Q1 from telegram username @dianairlangga
How do you solve the massal adoption problem?
Adoption in reality?
S | tokenova: This is a great question and something I don’t think anyone has an answer to yet?—?How do we solve the mass adoption problem?
We intend to launch as a traditional launchpad, the UX/UI not being totally different to other launchpads out there. We need to analyse the market, analyse the space and work out the issues from research before we can begin to truly address them: We’re not looking to implement our own solutions we are looking to solve real problems
Once we have done this we can look at adapting our system and mapping it to “non-crypto” market desires. This way we can be the first point of contact for many people new to the space by offering a safe and easy to use platform.
Q2 from telegram username @Mrxxxxxx12
How do you plan to spread awareness about your project in different countries where English is not spoken well? Do you have local communities for them to let them better understand about your project?
S | tokenova: As we mentioned. We made it our mission to be multicultural. We have already partnered with VCs and marketing companies speaking all major languages. We will continue to work with them to get the message out there!
Q3 from telegram username @standardlex
Is there any need for KYC before I can access TRUSTPAD. ?
LE CHIFFRE @TrustPad?—?WILL NEVER DM YOU FIRST: There will be no KYC as of now. We’re also accepting anonymous projects, but they still need to pass our very strict vetting process.
Q4 from telegram username @pratze
After follow today ama about TrustPad, I see that your project is really good. Can you share to me how to get $TPAD token? Will you have presale or publicsale?
LE CHIFFRE @TrustPad?—?WILL NEVER DM YOU FIRST: Public Sale is planned for tomorrow 5th of May, 16:00 UTC. You can still get whitelisted for the Public Sale, or just buy it on listing on PancakeSwap.
Q5 from telegram username @arboledae
Could you tell us what you consider the most interesting about your project?
S | tokenova: Personally, not speaking for the project as a whole, I feel the most interesting aspect is the back end of the launchpad. We were overwhelmed with support from experts in the blockchain community who shared our mission of legitimising blockchain technology. I’ve met some incredibly interesting people and taking advantage of everyone’s experience to really develop some of the projects that launch through us will be a pleasure?—?we want to make sure our community is investing in worthwhile projects that address the fundamentals… not just pump and dumps! (our alumni system will ensure this)
+ it has been very rewarding building that network and developing our ecosystem in a highly constructive manner
This gives us a lot of confidence in the sustainability of TrustPad
Q6 from telegram username @arboledae
what is your biggest incentive?
S | tokenova: The moon is pretty big!
Haha jokes aside we’re driven by the idea of making a safe environment so we can attract projects that will use blockchain technology to improve society.
Incentive for people to invest in TPAD would be so that they are part of this movement and get access to these projects. To make good, sustainable long term returns whilst funding projects with clear causes.
Q7 from telegram username @Rrrrrrrrrzzz1
Some DeFi projects were recently “hacked” as per their explanations. How do you think these recent events on other DeFi products affects the trust by users? What can Your Project do in order to ensure crypto enthusiasts that DeFi is safe and reliable?
LE CHIFFRE @TrustPad?—?WILL NEVER DM YOU FIRST: That is actually one of the main reasons why we decided to launch TrustPad?—?to ensure the funds of investors and projects. A lot of these “hacks” or “rugs” happened because of smart contract vulnerabilities, pulling liquidity/not adding enough liquidity or not properly vested team or developer tokens. We have strict measures in place to protect investors as much as possible against these types of “hacks”, and it’s obviously a big part of our vetting process.
Q8 from telegram username @haine123
What motivated you to do the MEME / Gif competition?
What is the purpose?
S | tokenova: We don’t like the idea of ‘hype’ but it is important for our community, for our potential projects and for our investors to raise awareness… why not do this in a fun way??
Part 3?—?Quiz Results
As usual, for the third part, Satoshi Club Team asked the chat 4 questions about the crypto project. A link to a Quiz form was sent into the chat.
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