On August 19th 2021, our community had a chance to welcome Andy Smith – Chief Product Officer Of Worthpad to join in an AMA to give fruitful information about the key features and roadmap of Worthpad is a decentralized, multi-chain IDO platform that will create infinite wealth for $WORTH investors.
Time: 8:00 AM UTC / 15:00 PM UTC +7, Thursday, August 19th, 2021
Airdrop: 100$ for the best questions in the AMA..
Part 1: Project and Guest Introduction.
Question 1. Firstly, can you give me brief introduction about your management team and Worthpad ?
Thank you for having me here. I am Andy, Chief Product Officer at Worthpad.
Worthpad is a decentralized multi-chain IDO platform that creates infinite wealth for $WORTH investors. Investors who stake $WORTH tokens will automatically earn tokens of projects incubated and accelerated on the Worth IDO Launchpad.
Venture capital investment opportunities have traditionally only been available to the wealthy and well-connected. Average retail investors are often excluded from participating in the early-stage funding of startups, therefore missing out on the potentially unlimited growth opportunities.
Worthpad is an all-in-one platform that connects retail investors and innovators. Startups gain access to low-cost fundraising and a community eager to back their projects. For its community of investors, Worthpad offers early access to high-growth investment opportunities that they likely wouldn’t have had access to on their own.
Worthpad aims to make investing in crypto and DeFi startups more accessible to retail investors. It is a revolutionary idea that will help retail investors build wealth over long term.
Worthpad’s management team comprises of professionals from finance and technology industries with a cumulative experience of over 80 years. Our team members have worked for the some of the biggest and most innovative technology companies, investment funds and hedge funds in the world.
Question 2: Please share a few major milestones of Worthpad during its development process.
Our team is building the MVP of multi-chain Worth IDO Launchpad. We are building the first version of IDO platform on Binance Smart Chain. The target launch date is December 2021. This is a very exciting product unlike anything that is available.
Dev team is also working on the Worth Smart Contract Foundry and developing smart contracts for Binance Smart Chain. Worth Smart Contract Foundry has a drag and drop interface that will allow anyone to launch an idea and build a community around the project without worrying about the technical aspects of the smart contract configuration.
We have a detailed project road map on the website.
Question 3: Could you share with us your plan to expand locally as well as globally?
We want to build a global community of visionaries. We want to build the biggest and most positive community in the cryptoshpere. We believe that our community will be our biggest asset. Competitors can copy our ideas/products, but they will not be able to copy our community.
Worthpad is committed to the growth of its community.
Worthpad is a long-term play. We are planning to build local communities as well. Vietnam is a key area of interest for us.
Part 2: 5 questions pre-collected by Twitter post.
Question 1: A strong community not only brings interesting ideas to the project but also attracts larger partners. So how is #worthpad planning to build its community? And is there a plan to recruit people with Blockchain experience to the #worthpad team? @ashamoni_N
Excellent Question. We want to recruit the best and the brightest people to our team. Having a healthy, active, and vibrant community is a must for any successful blockchain project. We believe that community is the most important factor behind the success of any project. At Worthpad, we are very open to ideas to develop a strong and positive community.
We are looking for community members who are passionate about building wealth and believe in our vision to build a fair and equitable ecosystem that provides resources (investment capital, marketing expertise, community building expertise etc.) to the most innovative crypto projects and help retail investors invest in such projects. It is our endeavor to build Worthpad as a community owned project.
Question 2: How many partners currently have trusted #Worthpad technology and what benefits do these partners bring to #Worthpad and vice versa? @Sophiamangak
Very nice question.
We are in talks with multiple IDO Launchpads to build a launchpad alliance. We intend to build a collaborative ecosystem where we can help innovators and investors reach their targets irrespective of the platform that they choose.
We are also in talks with multiple blockchain teams to build cross-chain bridges for seamless movement of blockchain assets from one blockchain to another. Stay tuned for major updates on this front in the coming weeks.
Question 3: Binance smart Chain blockchain is having high transaction speed and cheap gas fees, Do you have plan In mind to launch your mainet or switch to other blockchains in the future? @HbJag
We intend to build a blockchain agnostic product in the long term. We don’t want to re-invent the wheel by deploying our own blockchain.
“Build once and deploy anywhere” – We believe that the blockchain ecosystem will evolve in this direction. We are building our IDO Launchpad in such a way that integrating a new blockchain will be very easy. This will make our product scalable.
It’s not feasible for innovative projects to live on isolated blockchain islands.
Question 4: Nearly 80% of investors only focus on short-term token price instead of understanding the real value of the project. Can you tell us the motivations and benefits for investors to hold your tokens in the long term??? @nilpori74892922
That’s a very good question.
$WORTH token gives investors the opportunity of a lifetime to earn passive income. They will be able to passively earn tokens of extraordinary projects incubated and accelerated on the Worth IDO Launchpad till they keep staking $WORTH tokens.
Active investors who stake $WORTH tokens will get early access and guaranteed allocation to seed rounds, presales and private sales of high growth potential projects incubated and accelerated on the Worth IDO Launchpad.
The entire ecosystem has been designed in such a way that the value of $WORTH token will keep increasing. We are building Worthpad platform to give long-term investors an astronomical ROI on their investment.
Question 5: Revenue is a very important, aspect for all projects, to survive and maintain the project / company.
-What is the way to generate profit / revenue of token?,”
-What is the income model,???” @beiman9a
That’s an excellent question.
A healthy, positive revenue stream is one of the most critical KPIs of a good company. To understand Worthpad’s revenue stream, it is critical to understand the blueprint of the ecosystem.
$WORTH is a reflection token. There’s a 10% tax on each transaction. 5% goes to Liquidity Pool and 5% goes to Worth DVC Fund. Each transaction makes $WORTH token more valuable.
Worth DVC Fund is the lead investor that invests capital in the projects identified by Worth IDO Launchpad for incubation and acceleration. Worth DVC Fund gets project tokens in lieu of investment capital. These tokens are distributed to investors who stake $WORTH tokens after deducting performance fee of Worth DVC Fund.
Worth IDO Launchpad gets tokens (sweat equity) from incubated/accelerated projects for services rendered (marketing, advisory etc.). These tokens are distributed to advisors, mentors etc. after deducting performance fee of Worth IDO Launchpad.
To summarize, Worthpad’s revenue streams are:
1. Worthpad makes money from performance fee of Worth DVC Fund and sweat equity received by Worth IDO Launchpad.
2. The token farming/staking pools will generate revenue for Worthpad.
3. Worth DEX is going to generate a massive revenue stream for Worthpad platform.
Extra Question: Do you guys develop Worthpad communities around the world? For example, a community WorthPad Vietnam
Yes. We are building a strategy to build local communities. We will be launching a Worthpad Vietnam community soon. This community will help us identify the best crypto projects that are being built by innovators in Vietnam.
It will also help us reach out to retail investors in Vietnam who want to participate in the Worthpad ecosystem.
PART 3: 5 LIVE QUESTION AT TELEGRAM GROUP BC BLUE SKY VENTURES
Question 1: Do you have a Token Burning plan to increase Token value and attract Investors to invest? @vilamna
We will not burn any tokens. If Worth DVC Fund is not able to meet its investment mandate to invest the funds in a quarter, the unutilised funds will be distributed to investors staking $WORTH tokens.
For example, Worth DVC Fund has to invest $2 million in Q1 2022 and it’s able to invest only $300,000, then remaining $700,000 will be distributed to investors who stake $WORTH tokens.
Question 2: From where you get the project name? What does it means to you? And why you choose this name for your project? What is your mission and vision tobuilt this project? What you want to achieve Through in future? @depquadi
$WORTH helps you increase your net worth and its worthy of your support.
Question 3: Does your project support staking program?if yes. how is your stake system work, what is the requirement for user if they want to stake in your platform? @WingWang17
Yes. It will have many unique features. The best part is that if you stake $WORTH you will automatically receive tokens of projects being incubated and accelerated on the Worth IDO Launchpad. This will be a huge passive income stream. Worthpad will do all the heavy lifting for you.
Question 4: Do you have AUDIT credentials or are you working to AUDIT your project, to make it more secure and reliable? @EliaWebber
Worth Smart Contract Foundry (Worth SCF) will comprise of a collection of opensource smart contracts to ease the process of launching a new project on the Worth Launchpad.
The code used for developing foundry smart contracts will be open source, battle tested and audited to ensure no exploits can be used by malicious actors to steal the investor funds.
The projects created on Worthpad platform will be safe from rug pulls and scams. Funds raised by IDOs will be locked in liquidity pools through smart contracts and project teams will not be able to drain liquidity from the liquidity pools.
Worth SCF smart contracts will be designed to safeguard LPs from popular exploits such as flash loan attacks and oracle price manipulation attacks. We are also building a fool proof method to protect investor funds from being sent to incorrect addresses and other common mistakes committed by novice crypto investors.
Question 5: I got scammed a lot of time 😀 , rugs, exit scams etc. – how can we investors be sure that this will not be similar, are your contracts public & somewhere to be seen? @Wiki_k
Each project that launches through our platform will contribute to Worth Insurance Treasury, providing investors in our community a sense of financial protection against potential project failure.
Each project that uses Worth IDO Launchpad to raise capital will have to buy and lock $WORTH in the Insurance Treasury. Once all milestones defined by project team are met, funds will be unlocked from the treasury and reimbursed to the project team.
Worth Insurance Treasury is the most critical risk management feature of the Worthpad platform to safeguard $WORTH investors’ interests. Our Insurance treasury has been established to protect investors of projects that fail as a result of team negligence.
For all of the questions that have not been answered yet, guys feel free to search for more information or ask directly to them on the links provided below:
Follow BC Blue Sky Ventures twitter.
Follow Worthpad twitter.
Join BC Blue Sky Ventures channel telegram.
Join BC Blue Sky Ventures group telegram.
Join Worthpad channel telegram.
Join Worthpad group telegram.
Recap AMA With Worthpad
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