Here’s our 163th AMA recap!
Thank you to the Infinity Chain for participating in Ask Me Anything (AMA) with PlungePad 28 November, 2021. This guest star,
- Sam — Co Founder
Introduction
Sam — PlungePad :
So I am Sam, I have worked in the cryptocurrency sector for five years and have invested in and helped raise funds for several tier 1 projects. Previously, I worked in investment banking for ten years and am very well connected in the financial industry.
Crypto_blocks :
Hello, and thank you for having us today, I am a lead software engineer for a high-end company in europ, and have assisted various crypto projects technically in the past
QUESTIONS MODERATOR
What’s Plunge Pad? The idea, how it started?Sam — PlungePad :
Plunge Pad is the first and the fairest launchpad for launchingprojects on Arbitrum where all token holders get a guaranteed allocation. It started of when we got to know about Arbitrum and when we saw how strong investors were backing it. And we really liked the cheap and fast transactions on Arbitrum L2, hence we thought it wil have a great potential,
What makes Plunge Pad different from other platforms?Sam — PlungePad :
What makes us different is that Oour platform is not only the first launchpad for Arbitrum, but it is also the first-ever fair launchpad in the launchpads sector, where all token holders will have the ability to participate in the token sale and receive a guaranteed allocation.
We dont have any minimum requirement for staking, you can stake even a single token and can get proportionate guaranteed allocation in the IDO on our platform.
We want to include small investors to be able to participate in IDOs, currenlty the tiers requirements on other launchpads are such that if you are not a whale you cant get guaranteed allocation.
Could you tell us about Plunge Pad tokenomics and use-cases of Plunge (PLG) token?Sam — PlungePad :
So we are launching on Arbitrum, but as arbitrum is new to people we also decided to launch on BSC.
We wanted to give BSC user an exposure to Arbitrum hence we will be trading on both uniswap and pancakeswap.
The tokenomics details are in the litepaper available on the website.
Use-cases are that we will be launching projects on our platform, will develope a bridge to BSC and other chains and will also be developing the fisr DEX of arbitrum ecosystem.
Who are Plunge Pad current partners and backers?Sam — PlungePad :
just pluggin git in from the litepaper
We have a long list of partners and backers, we can disclose some of them but some are under NDA.
Oracles investment group, Moonwhale ventures, R8 Capital, Cryptograph, Daostarter, ERAX and many more
Can you share the Plunge Pad roadmap now? What is coming up in the short term and what are the next steps to be taken in the future?Sam — PlungePad, :
This is our detailed roadmap, its already part of the lightpaper.
What I would say is that presently the focus is on launchpad, then developing the bridges between Arbitrum and other netowrks in the next 2–3 months and in the next 4–6 months we will have our DEX ready for arbitrum ecosystem.
here the roadmap
QUESTIONS TWITTER
I see that Plunge Pad is the only Launchpad project currently built on Arbitrum. Why are you building on Arbitrum? In terms of cost, speed, scalability, security and community, what advantages does Arbitrum have over BSC or Polygon for you to choose as a project development site?Sam — PlungePad :
Like I mentioned earlier, arbitrum is a great layer 2 solution. Why arbitrum because we believe it will be one of the biggest layer 2 solution. why not BSC, becuase to us its not really decentralised.
People backing arbitrum are some of the top backers in the crypto as well as tenchonolgy sector.
Arbitrum One, an ecosystem built on the Ethereum blockchain, boasts of low transaction fees. According to data from L2Beat
— an L2 comparison platform — the total TVL on Layer-2 solutions now stands at more than $3bn, with Arbitrum contributing to $2.2bn — almost 75% — of the total TVL. Data also shows that the daily transaction volume was about 267k as of 12 September 2021 — a growth rate of over 250%
As a launchpad platform, can you reveal the key benefits of the Plunge Pad to help projects have early adopters and gain exposure? How is your marketing strategy geared towards complementing and optimizing community response times for quality projects?Sam — PlungePad :
Great question
Our ke differentiating points are that we are the first on arbitrum. Plus we are the only fair launchpad around, and the only launchpad that gives guaranteed allocation to all its tokenholders. We have contracted many influential people as well as are seeking partnerships on a daily basis.
According to the Plunge Pad website providing the STAKING feature, can you explain the token pair in Plunge Pad staking? How many tiers are there in staking? Also how is the staking mechanism?Sam — PlungePad :
Staking is not structured in pairs, you will only need to stake PLG, and earn PLG in rewards. We are a long term project and the rewards will be for available for 5 years. There will be 3 tiers in staking, you wil be able to stake from 1 PLG upto a million PLG, or even more.
What security is implemented for the Plunge Pad platform? Security is very important and valued by users, what actions do you take to keep investors’ funds safe? Is everything fully ready when your platform is actually launched?Sam — PlungePad :
We have contracted 2 audit firms that are thoroughly reviewing and auditing our contracts, we will soon publish the reports once availble.
On Top, our co-founder is himself.a cyber security cahmpion and has worked for many multinational companies, so the codes are rock solid already.
Thirdly, we rely on the Arbitrum being being a decentralised chain.
Do the token holders have the right to participate in the governance of the project? What kind of decisions can they vote on about the project?Sam — PlungePad :
Good question
Yes ofcourse, we want to build a fully decentralised platform that will be controlled by the DAO. Every token holders will have a say through voting mechanism in the development of the platform and project’s IDO launch.
QUESTIONS TELEGRAM
IS This Your project only for elite investors, how about others with small funds, is it open to everyone?Sam — PlungePad :
Good question — The project is not for Elite, our main gaol is to be inclusive and help small invetors to participate in the IDO by giving them guaranteed allocation even if its small.
Is Your Token already listed On any exchanges to Buy? When will be listings done? Is it available on any exchange?Sam — PlungePad :
No we are not listed and we will announce any listing on our official channels, please dont fall for scam.
Do you have AUDIT certificate or are you working to AUDIT your MagicAcademy? so that the security of the project becomes more secure and reliable.?
Thanks sir…….Sam — PlungePad :
We have contracted 2 audit firm that are currently reviewing our contracts, we will publish the reports when available. Stay tuned and dont fall for scams.
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