LPI Dao (Blockwiz) x Satoshi Club AMA Recap from the 30th of June
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 LPI Dao (Blockwiz) and our guests were @Cryptique007, @ApeFirst and @MisterWyt. The AMA took place on the 30th of June.
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&WebSite
Mary | Satoshi Club: Hello Satoshi Club! We are happy to announce our AMA session with LPI Dao (Blockwiz)! Welcome to Satoshi Club
D. | Satoshi Club: Today our guests — @Cryptique007, @ApeFirst and @MisterWyt!
Welcome to the club guys! Happy to have you here.
Solly [Will Never DM First]: Hi there happy to be here today.
Mr White @LPI DAO: Hi, thanks for hosting our team.
Mary | Satoshi Club: Hello, welcome to Satoshi Club
How are you, guys?
Mr White @LPI DAO: Very well thank you and how are you doing?
Solly [Will Never DM First]: We are doing great we hope the entire community is having an awesome Wednesday.
D. | Satoshi Club: Great! thanks
Mary | Satoshi Club: We are great and happy to welcome you all here!
And I see that we are ready for the introduction part
Could you please introduce yourself and tell us more about LPI Dao (Blockwiz)
Mr White @LPI DAO: Yes I will start and then we can move on to the background of LPI.
Mary | Satoshi Club: Sure!
Mr White @LPI DAO: Prior to getting involved in crypto, I worked with publishing and media outlets and had a deep interest in stock trading, which I had been involved in for many years. It was this interest that then led me towards the crypto environment. I am the project leader at LPI having pitched the idea to the team members and followed through with it assuming a leadership role within the project.
Solly [Will Never DM First]: About the project: Our team has diverse experience ranging from financial investment, crypto fund management, marketing professionals, and DeFi expertise. A couple of our team members have been involved in the crypto space for over 5 years.
Identifying the importance of getting into projects at the earliest stage has been the driving force behind the team’s search for new and upcoming projects to invest in. With the introduction of ICO’s in early 2017, the team had identified this as the gateway to early investments. Later when the ICO buzz subsided it evolved into what is know as IEO’s and this changed the way initial investments were conducted as it had shifted towards a more centralized platform that would be out of reach for many projects and investors. The rise of DeFi in 2020 brought about a revolution to fundraising with the introduction of IDO’s and launchpads, offering investors a decentralized solution.
Mary | Satoshi Club: I see stock trading often precedes crypto
Mr White @LPI DAO: Yes that is actually what peaked my interest in crypto.
Solly [Will Never DM First]: The team members in their individual capacities spent great amounts of time and money investing in IDO’s and various launchpads. Despite seeing great returns they were soon met with hurdles that limited their ability to gain early access to the best and most promising upcoming projects. This was due to the Launchpad market growing exponentially and led to projects being spread over a variety of launchpads each requiring their own stipulated access tokens.
As a group of investors who frequently communicated and exchanged ideas, the idea for LPI was formulated. The idea of a launchpad index fund would serve as a solution to the pain points of investing in launchpads and accessing upcoming projects.
Mary | Satoshi Club: Yes, it’s not perfect direction and i like that you want to improve the situation
How many team members do you currently have?
Solly [Will Never DM First]: At the moment we have 10 members.
Mary | Satoshi Club: It’s nice for the beginning
Are you public?
Solly [Will Never DM First]: No the team is not public as in the DeFi environment projects with anonymous teams have become a norm for various reasons and this has been seen in some of the most prominent and revered projects. Due to the decentralized nature of the LPI project as well as safety reasons the team has chosen to remain partially anonymous.
Should the team be public there is a great possibility for the regulatory aspects of a centralized financial institution to be imposed on the team from various regulatory bodies around the globe, making it highly challenging or incredibly difficult to launch the project and operate the LPI fund. From a safety point of view, it places the team members at risk of cyber-attacks which in turn places the fund resources at greater risk. As a result of these considerations, the core team members will be kept anonymous while LPI will offer access to staff and direct contact through the LPI community and marketing managers.
Mary | Satoshi Club: Gotcha
D. | Satoshi Club: Good and detailed answer, thanks.
Mary | Satoshi Club: Thank you for introduction, guys! Are you ready for the questions our community?
Solly [Will Never DM First]: We try to be clear in our approach
D. | Satoshi Club: Professional approach
Q1 from Telegram user @messilolz:
LPI Listing Was to be done on 28th June but it has been rescheduled for unknown period. Market is always volatile in crypto and it cannot be controlled by any forces hence how can market volatility made it difficult to have an optimal IDO for LPI DAO. what are the current focus of your platform and what have you been working on? And what I believe investors should be allowed to vote for any postponed of listings done?
Solly [Will Never DM First]: Yes we planned to launch on the 28th of June, however due to the market volatility and pullback which is apparent to all.
The initial launch did not go as planned and therefore the LPI team has been working on various options in order to maximise the launch of LPI.
The team has been working on various partnerships with other project’s and are working amplifying the marketing campaigns.
Mary | Satoshi Club: Yes, a lot of projects postponed their launches or IDO
when you’re planning to launch now?
D. | Satoshi Club: So you postponed your IDO? do you have any specific date for launch? or it fully will be depends on market state?
Solly [Will Never DM First]: @ApeFirst will be answering this question.
ApeFirst: Hello everyone, we hoping to have our launch in the second half of July if all goes well.
D. | Satoshi Club: Hey! welcome to Satoshi club!
got it! so you will launch in July no matter what?
Mary | Satoshi Club: Hello, welcome here!
If you will see that bull market is over than you will wait several years till new bull run?
ApeFirst: Thanks! thats our plan.
Mary | Satoshi Club: Thank you for your answers! Ready to proceed?
D. | Satoshi Club: We hope July will be much much better month for crypto than current one
Solly [Will Never DM First]: Yes we may,
to the moon baby
Q2 from Telegram user @josewen:
Various launch pads are now available on various blockchain networks, and the platforms that facilitate IDO sales have seen a significant boost in growth. Demand for allowances, on the other hand, has created barriers to entry into the launch pad space. This is compounded by the fact that most tiers are typically overcrowded, leaving investors with much lower allocations than they bargained for. But really, what makes LPI DAO different? What are the essential and core features of LPI? Can I access and invest in multiple launch pads at the same time? How do they help increase investor profitability?
Solly [Will Never DM First]: Firstly I would like to clarify that LPI is not launchpad, but rather a launchpad index fund.
D. | Satoshi Club: Good clarification.
Solly [Will Never DM First]: While many haven’t thought of investing on networks other Ethereum or BSC mostly because of the technicalities or they are unaware of the many blockchains available in the crypto ecosystem, the LPI Fund will continuously be conducting in-depth analysis on all the new and upcoming launchpads on the various blockchains in search of the best launchpads to invest in. These analyses can be found on the LPI site under the Analysis page.
LPI aims to identify all the pain points of accessing launchpads and participating in IDO’s on different platforms and networks which we have identified as; high cost to access launchpads, low allocations for lower tiers, whitelists/ lottery entries, lack of time, knowledge, and technicalities of the platforms and especially accessing platforms on unfamiliar networks to the investor, staking lock-up periods and a host of other smaller issues faced by individuals. LPI solve these issue by employing the team’s expertise and years of experience in the crypto environment to do the investing in all the best launchpads at the highest tier levels and offering investors the benefit of earning from a profit share in the fund’s success.
Mary | Satoshi Club: You already have some analysts?
Solly [Will Never DM First]: Yes we have done analysis, all the analysis can be found on our website LPI.finance.
Mary | Satoshi Club: We will definitely check this
D. | Satoshi Club: Can we think about LPI as an aggregator of launchpads?
Solly [Will Never DM First]: No, it is an investment fund that primarily invests in launchpads and IDOs.
D. | Satoshi Club: Got it
Mary | Satoshi Club: Thank you for your answers! Ready to go to the next question?
Q3 from Telegram user @DK177
You have indicated $LPI is community driven. It means there is not a company structure behind your project. Why did you choose that model? Did you examine the challenges related to community driven tokens and do have plans to overcome them? By the way, in your revenue allocation, 5% of the amount was allocated for administration and 5% for marketing. There is a 2% allocation for asset management. If $LPI is community driven, how these allocated funds will be utilized? Who render the services related to administration, marketing and management? Since the whole community cannot participate in these activities, are there any representatives and are they spending relevant allocations for above purposes? If so, why you call $LPI a community driven token?
Solly [Will Never DM First]: @ApeFirst over to you
ApeFirst: We have chosen the DAO model so the community has an opportunity to voice their opinion through voting, the team will put forward suggestions which the community will have a chance to vote or the comunity can bring up their own suggestions. This is how we will overcome thos challenges. The team is administering the project at the moment and the marketing and management has been outsourced, in the future we hope community teams can rise up to take such positions.
D. | Satoshi Club: How voting process will be look like?
ApeFirst: We will be utilizing Snapshot, which is an offchain, gassless voting tool used by many DeFi communies.
D. | Satoshi Club: Ok, nice choice.
Mary | Satoshi Club: Do you have any articles or another materials which explain how your DAO model works? How you will incentive your community to participate in this DAO model?
Solly [Will Never DM First]: Yes it can be found on our medium.
Link to follow:
Mr White @LPI DAO: https://lpi-dao.medium.com/lpi-dao-governance-d10f789138f9
D. | Satoshi Club: Perfect
Mary | Satoshi Club: Thank you, guys! Ready to jump to the next question?
Q4 from Telegram user @Arisabela:
You mention on your website that there will be mechanisms utilized for holders of LPI token to gain additional benefit aside from the appreciation of the base value of the token but these implementations will be realized once the fund reached a determined threshold, so there’s nothing specific yet that we can know? What kind of mechanisms are you planning to develop and what is the target of the fund to be reached?
Solly [Will Never DM First]: We have released articles relating to the threshold and rewards. These aspects are outlined including the launchpads earmarked for potential investment.
Articles to be dropped
Mary | Satoshi Club: Nice mechanism! Will your investments be done only from funds which you will collect through IDO?
Solly [Will Never DM First]: Yes these investments will be done from the LPI IDO and once the fund is up and running investments into more projects and dollar cost averaging will be employed from IDO sale revenue.
D. | Satoshi Club: Will you have any vesting period for investors from IDO? what percentage of tokens will be in circulation at the start?
Solly [Will Never DM First]: Yes it can be viewed in our tokenomics will drop an image with this information
Mr White @LPI DAO:
D. | Satoshi Club: Thanks!
Mr White @LPI DAO: Vesting periods are listed in the tokenomics.
Mary | Satoshi Club: Thank you, guys! Ready to go to the next question?
Solly [Will Never DM First]: Yes
Q5 from Telegram user @antoni_azx:
There’s an option on your platform for making re-investments, can you tell us what are the requirements to be a candidate for accessing the part of the revenues that can be used for re-invest? Will the whole system work exclusively with LPI tokens or will be other tokens included?
Solly [Will Never DM First]: Ok so to explain the re-investment it’s part of the funds investment strategy which entails re-investment of the funds IDO sales revenue.
Mary | Satoshi Club: Can you explain on the example
Mr White @LPI DAO: When the fund invests into different IDO’s and newly launched projects, a percentage of the revenue earned from these investments will be allocated for re-investment. While some of the other allocations of the revenue will be community rewards for profit share, fund expenses, marketing, etc as can be viewed on the LPI website with detailed percentages of each allocation.
I hope this answers your question.
Mary | Satoshi Club: What I will need to do to join your find? Only hold LPI tokens? Or I will need to register on your platform?
Sure, it’s clear
Mr White @LPI DAO: Buying into the project is simple, you just have to buy the LPI tokens, although reward distribution will be done through staking pools.
D. | Satoshi Club: Thank you! let’s move on to the last question from this part
Q6 from Telegram user @meml97:
Scams and rugpull projects can trick sometimes even the most veteran investors on the market. So, my question would be then, what security and authentication methods will LPI DAO have to ensure that it will never invest on a scam project and lead users to them? Also, if hypotetically speaking, the time comes when you invest on a Launchpad that ended up being a rugpull, do you have any kind of anti-scam protection for your users and funds?
Mr White @LPI DAO: As a precautionary measure to avoiding scams and rug-pulls the team will be doing due diligence on all project and analyzing the launchpads before investing. The fund will be very selective with regards to the launchpads it chooses to invest in. Initially the fund will only be investing in the most prominent and top tier launchpads.
The Team will be working towards creating partnerships with insurance protocols, in order to offer investors an option to insure their investment. As we are all aware that anyone could get caught in a scam or rug-pull no matter your experience or expertise. this will serve as a protection mechanism and minimize the risk.
Mary | Satoshi Club: That’s great! Btw, what about LPI security? Do you have any audits done?
Mr White @LPI DAO: Our contract was recently deployed and is currently being audited. These audits will be live on our site in a few days, once we receive it from the auditors. The fund will also be releasing financial statements and having external audits conducted annually.
Mary | Satoshi Club: Awesome news! We will be waiting for updates from you! And now live part is knocking at the door
Part 2 — live questions from the Telegram community
Q1 from Telegram user @Guandog: It is known that the LAUNCHPAD in POLYGON, SOLANA and CARDANO are beginning to emerge and I predict that they will be very popular in the medium term, does LPIDAO also plan to expand to these blockchains at some point?
Solly [Will Never DM First]: Yes LPI DAO does plan on expanding across the entire crypto sphere. Including Polygon, Solana and Cardano.
Q2 from Telegram user @KASG95: You say that LPI DAO offers an investment opportunity “unique to the market”, but really there is no competitor in its class? If so, why haven’t other projects developed a similar platform if they make big profits? or is it very risky?
Mr White @LPI DAO: We have not uncounted any competition as of yet and are the 1st to offer a project of this nature. Our understanding from experience of working through our research and development tells us there is a huge cost to starting a project like this and a lot of technicalities that need to be considered. Also structuring partnerships with launchpads is a challenging task.
Q3 from Telegram user @slla1112: LPI is built on the ETH network. Will you have improvements to use other networks (BSC etc) in the future?
Solly [Will Never DM First]: Yes other networks are already being implemented. We having an IDO lined up on the BSC network which will bridge the LPI token.
Q4 from Telegram user @Kowshik22: How can I participate in your IDO
Solly [Will Never DM First]: The details the sale on the bsc network will be released on all our socials.
Q5 from Telegram user @highpee:
Hello LPI, you clarified that you are not a LAUNCHPAD but a LAUNCHPAD INDEX FUND? Does this mean you will not be hosting any token sale on your platform? How will community members be able to invest in top tier and reputable projects? Who will be hosting the sale of these projects?
Mr White @LPI DAO: LPI is an investment fund which invest in launchpads on behalf of all the holders of $LPI tokens at the highest tier in order to get private allocations and large allocations for maximized profit. This profit will then be distributed between the $LPI holders.
Q6 from Telegram user @xperia3: Hi!
NFT is still a hype and after some new features such as NFT farming and NFT staking, a few launchpad projects started to support NFT launch in their system. Do LPI Dao also have a plan like this? Do you plan to implement NFT and maybe use NFT as a rewarding system in LPI Dao?
Mr White @LPI DAO: Yes this is correct it can also be viewed on our roadmap, LPI has the intention and plans to integrate NFT’s as a reward mechanism and to promote the buy back and burn of LPI tokens through the sale and auction of value backed NFT’s.
Q7 from Telegram user @K2ice: What is the minimum amount of LPI tokens that I need to buy and hold to be able to buy into the project?
Mr White @LPI DAO: There is no minimum amount required to earn from the profit share although your token holdings will determine your share in the profit.
Q8 from Telegram user @Gutike95: You say that the failure or devaluation of 1 Launchpad will not be detrimental to the fund, since the success of the others will act as a countermeasure to mitigate this threat, but you will really do a pre-project study to minimize the risks of make the IDO a failure?
Solly [Will Never DM First]: Yes we will study every Ido. This will determine whether the Ido is a long term prospect which presents greater value to the community or if it’s peak will be reached early and cashing out would benefit the fund through re-investment.
Q9 from Telegram user @obulin:
Hello LPI Dao (Blockwiz) Team
Wish you a great success in your project
Do you have any plans on staking on different networks after the IDO launch?
Mr White @LPI DAO: Yes we have plans for this as the LPI token will be on 3 different networks ETH, BSC and Polygon therefore staking for all will be made available.
Q10 from Telegram user @adaatalay: What is different in LPI? What advantages do I get as a $LPI holder in the short and long term?
Solly [Will Never DM First]: In the short term there will be high APY Staking and in the long term you will be earning from the rewards program as well as the scaling of launchpads.
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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