There’s been a ton of hype building around the LID community again as people are super interested on our next presale launch. With our LIFTOFF finance service and also LID certified presale for Community and Premium projects.
We just had a community voting and project AMA with QuiverX. QuiverX Capital is a crowdfunding platform utilizing blockchain technology. You’ll be able to do some seriously smart investing in new projects through QuiverX’s platform!
Please check them out below
Here’s what transpired and discussed during the AMA.
Y0giJi | QuiverX: Hello 👋🏽 everyone thanks @PenProtocol and the LID community for hosting this AMA!
Pen | LID Protocol: Awesome, thanks for coming here, so let’s get started! Why don’t you start by giving us a little background on yourself?
Y0giJi | QuiverX: Sure thing my name is Ivan I’m born and raised in the USA. I joined the military when I was 18 and since then I have started a medical mushroom business www.fiveheartsherbs.com and am finishing up my masters in acupuncture. I got into crypto and investing a number of years back and decided to start QuiverX because we saw the need for crypto to interact with small to medium business similar to how go fund me did a number of years ago. My partner Mike is also an acupuncturist in the state of California and he has been on the project with me since day 1 and we have known each other about 3 years.
Question and Answer: Guest and Host
Pen | LID Protocol: Okay gotcha, so looking at the website itself, you guys plan to have a card anyone can use to spend as well. Did you guys have to get any type of business documents done for this?
Y0giJi | QuiverX: We have applied for a LLC with the state of Nevada and are working with the Nevada state licensing committee to secure all the proper documents.
Our plan with the card is to use a white label visa program and anyone should be able to use them wherever visa is accepted. We are based in Los Angeles but decided to base the business out of Nevada because they have the most comprehensive laws in place for crypto and one of the most friendly crypto states in the US.
Pen | LID Protocol: That is correct ^! On the Quiver X capital side, the investment piece, can you walk me through how that’s going to work? Will it be investing in new startups?
Y0giJi | QuiverX: Yes definitely! So initially our plan was to create a platform that would allow investors to invest in different types of investments such as startups, real estate and crypto type ETFs however, we realized that may be a bit too ambitious to start with and so we decided to narrow our focus initially and expand as the project grows.
So to start we decided to focus on small to medium business startups and tokenize them using liquidity tokens similar to how one might add liquidity to uniswap.
Essentially the platform would be set up in a way that business can create a page and set the parameters for what they are looking for in terms of start-up
Investors will be able to deposit Capital and receive a liquidity token.
After the decided upon time for return on investment the business would then start to make good on the investment offering a percentage back to investors either monthly or in lump sums depending on the agreed-upon terms.
In the event a business does not make good on the investments and are in a position for us to take legal action against them we will however if the business fails and there is no profit to be collected it would be the same as any failed investment and the investor will be at a loss.
So it becomes critical to make sure you are investing in solid start-up and doing some research before diving in.
Should we take legal action against a business that is neglected to pay investors back but have the means to minus the legal fees and expenses the results of legal action will be issued back to the investors.
Pen | LID Protocol: So essentially, you guys are presenting a way to invest crypto directly into real-world businesses Am I understanding that correctly?
Y0giJi | QuiverX: Correct
Pen | LID Protocol: Okay, good to know! Last question from me and then we’ll get into the questions from twitter. What made you guys want to go through LID?
Y0giJi | QuiverX: We wanted to go through LID because both of us have used LID to invest in presales in the past and we’re impressed at the way LID conducted business. We also wanted to give investors the same experience and feel at ease knowing LID would be taking care of things as a trusted third party.
With so many scams lately it was important for us to take ourselves out of that equation.
Pen | LID Protocol: Yeah, rug pulls have been running wild! Appreciate the words of trust! Ready to answer some submitted questions?
Y0giJi | QuiverX: Yes definitely!
Twitter Community Questions:
Q1: Community is the key to the success of projects, so besides organizing AMAs, what strategy does the team have in order to reach new investors?
A1: We agree, one of the things that’s different about Mike and myself is we chose healthcare as our primary profession with years of school invested in creating community which is not typically I would say for many. We really want to create a platform where everyone involved wins. In order to do that we have plans to work with professional marketing agencies such as Token Minds who have a proven track record of driving growth and we intend on maximizing that by trying to make sure the people who join us stay with us by coming up with lucrative incentives and bonuses as the project grows.
Q2: As an investor, why I should invest in QuiverX token? Which types of more exciting updates, partnerships are planned for QuiverX holders?
A2: Great question, as an investor I believe it makes sense to invest in companies that are trustworthy, ambitious and dedicated to the growth of the company. I believe mike and myself fit this bill. We are constantly looking for new ways to innovate and continue to align ourselves when experts in the field who are doing good business and have a proven track record of success. Our decision to work with lid is one example but we are working with advisors on the legal front and within the field of crypto who are all really good at what they do and we will continue to do this s the project expands.
Our next big push is working with Token Minds as our next big push in marketing. https://lp.tokenminds.co/
Q3: What is the utility of your native token? Also, what special features do you have or plan to implement that keeps you ahead of your competitors?
A3: The native token will be a governances token and a security token. As the platform develops we will release the details of how governance works but by holding QuiverX you will have access to the platform and we will require business who want to post to our page to carry an unspecified amount of QRX tokens to be able to post. Also as a holder of QRX you will be able to have early access to projects before they are released to Non-QRX holders which we believe will incentivize people to carry. You will also be able to stake your coins for rewards and we have plans to make QRX a farming pair for an low cap farming coin which will incentivize liquidity.
Additionally, we plan to make the site paid in the future and offer advertising for a business on our platform with special slots available for paid feature projects who are looking to get more traffic to their startup.
These fees and advertising cost will be made available to QuiverX holders Quarterly and we are working with a CPA to figure out exactly how we will execute this but our plan is to offer some portion of these monies to QRX holders.
We believe by establishing ourselves early and as mentioned before forming a solid community people will gravitate towards us.
Q4: What are the long and short term goals?
A4: Short term we plan to really build a strong foundation. Hire the right staff, continue to secure the proper paperwork, and finish creating a reliable and working product.
Long term we want to help drive adoption of our platform by marketing, public speaking and attending seminars and working directly with the business owner to help create mutual growth.
Also in the long term, we would like to expand investment types such as real estate and ETF as well as follow through on the rest of the goals we initially set for ourselves with room for additions along the way.
We would also like to position ourselves to shift with the market as more things start to get tokenized and grow into a fully functioning investment firm.
Q5: Your product and the current plan are in direct competition with crypto.com and swipe. How do you plan to compete with these products and win? Is there a strategy and how are you different?
A5: Only with respect to point of sale payments yes I would agree and the reason for that is to be comparable to the market standard for point of sale cards. Many crypto projects are starting to offer a point of sale payment cards as a way to allow people to spend their crypto assets. Another example I can think of is PLUTUS. We used some of these projects as guidance when coming up with the framework for our cards because they are successful and we hope to duplicate that success but, I don’t feel we are in competition with either of those business models. Our focus is not to create an exchange for people to buy sell or hold crypto assets but to expand use cases for digital assets for the future.
Pen | LID Protocol: Okay, I appreciate you taking the time to answer those questions for us. Any closing comments you’d like to add?
Y0giJi | QuiverX: I’d just like to thank everyone for their questions and engagement on Twitter. If you have any question I haven’t answered or aren’t satisfied with my answers and would like more details I am happy to explain in more detail, just please let me know. We are really grateful for the opportunity to speak to you all and excited about the prospect of hosting the presale for our project with the LID team! Thank you @PenProtocol