PADD Finance had an AMA in the PADD Finance official telegram group by 1pm UTC on the 4th of October. The recap of the AMA is available below for those who missed out.
FIBOBEN: Hello PADD army, I am Fibo Ben, Head of community and growth at PADD Finance and with me here is Alex Jaypee, the Founder/CEO of PADD Finance. I’ll briefly introduce Alex and PADD Finance and we can move on to the business of the day.
ALEXJAYPEE: Hello Padd Army! Thank you so much for the immense community support. The team is grateful.
FIBOBEN: Alex Jaypee is a serial technology entrepreneur who has encountered many successes as well failures in his entrepreneurial Journey.
He founded and worked in different sectors which include Media and Data intelligence, Edutech, Fintech and Alternative to Finance. He has over 6 years of Top Management Experience including leading and running a high flying startup.
Alex has been involved in blockchain since 2017 and has been opportuned to work as a consultant and in the core team of several projects which include Elesaro, Konomi Network, Launchpool, DragonBite, Apricot and Refinable. He also worked with Top UK projects like Baanx. He has been DEFI -ing(defying) all odds since 2017.
ALEXJAYPEE: You forgot to add that I am currently leading the Padd Team😊
FIBOBEN: So a brief about PADD Finance.
Padd is the community Launchpad Ecosystem for Kucoin Community Chain Projects. Our mission is to accelerate and grow the KCC ecosystem while ensuring that our community members gain fair allocation to IDOs of the innovative projects listed on our platform. Our Ecosystem consist of :
–Padd Launchpad(PLP): PLP uses Point Allocation System to give users who staked access to invest in pre-sales and private rounds. We drive inclusion with our staking allocation system by ensuring that every user who indicated interest in a project by staking receives a fair allocation. Also, our launchpad is based on a loyalty system such that users who stake for a longer period of time receive more allocation than those who stake for a short period of time.
–Padd Swap: A smart and easy way to swap and liquidate projects that are listed on our platform.
–Padd Labs: Our incubator labs for KCC based projects.
Also, we have the presale-X which is a presale as a service tool which projects can use to run their presales. Presale-X is an open tool but we make sure to dox and properly KYC projects before approving them to make sure that we do away with SCAM projects as best we can since one of our main aims of building presale-X is to combat rug pulls in the KCC ecosystem
Some of the use cases of the PADD token include:
- Stake to invest on the PADD launchpad
- Stake for ROI
- Pay for launchpad or Presale-X allocations.
- Mint, buy and sell NFTs on NFTsrealm.
Many more token use cases will be included as PADD continues to grow.
So @alexjaypee can you give a brief about the progress of PAD Finance so far
ALEXJAYPEE: Thank you Fibo! It’s been a crazy race so far! We have covered lots of milestones and we are not stopping. We have also had our share of set backs. These set backs has also made stronger to conquer the next challenge in line. Above all, it has brought us closer to the community – the community support has been massive. The trust placed on us by our community is a rare one that can’t easily be seen anywhere.
We have grown our community to over 50k plus and we will be kicking off our Discord contest too – we are expanding our community to discord.
We have established strong ecosystem partnership and we will be announcing more soon. In the future – we intend to announce some strategic partnerships that will boost our token.
Padd Launched its first Project – PresaleX – an open presale too for projects hoping to carry out their presale to leverage on. We also had hit our Softcap in a Pre-IDO carried out in our Platform(PresaleX). We also hit our softcap in the IDO done in our partners platform – KCLPAD.
Yes! We encountered an issue during our Launch and we have resolved these issues – we will be announcing the audit of our new smart contract later on and we will be relaunching.
We are still on a mission to attract users to KCC while growing our ecosystem and making our investors happy! This is what Padd Finance stands for.
FIBOBEN: Sounds cool. A lot of community members are also pleased with the way the launch issue was tackled. Thanks a lot for the brief highlight. We’ll be moving over to the twitter segment.
First question from twitter.
@cudosinichi9- If #PaddFinance can be staked and used to vote on protocol governance. How many #PaddFinance should I participate in order to be able to vote? Is there any other use for the token in the ecosystem?
ALEXJAYPEE: I am super grateful to every members of our community! The support was massive. Hello, The Governance system will be implemented in the Padd Labs – the voting will be a weighted voting – No specific amount of $PAD token is actually needed. If you want your favourite project to stand a high chance of being listed on our Launchpad or being incubated in Padd Labs – you can buy more $PAD token in order to increase your voting power.
FIBOBEN: Cool. Let’s move over to the second question.
@stewartsheng- Can you tell all the lovely investor How many team members do you currently have? what is your team background experience? Do they have enough experience in the field of crypto and Blockchain? and can you tell us what your strategy is to build a strong and large community?
ALEXJAYPEE: I have highlighted this in my previous AMAs. We are 8 team members – however there is an ongoing expansion in the team at the moment – we are bringing in more technical talents with strong experience in blockchain development in order to strengthen the team. We are community driven – hence the reason why we will be expanding our community to discord – there will be a discord invite contest coming up soon! We will also be leveraging on different strategies to grow our Telegram community.
FIBOBEN: I see community is key for PADD. Third twitter question.
@huyenthuvu7549- The liquidity of a project is what investors are interested in. How will you solve the liquidity problem? Do you have plans to list on major exchanges like Binance or Houbi?
ALEXJAYPEE: A couple of period after our Dex listing – we will be instituting an LP program – this will ensure that our token holders are incentivized for Liquidity Provision. We are taking this one step at a time.
FIBOBEN: Let’s move over to the fourth.
@sammy123vn- Can you list 1-3 killer features of Your Project that makes it ahead of its competitors? What is the competitive advantage your platform has that you feel most confident about?
-Staking allocation system that rewards long term stakers with a Guaranteed access to IDO slot and Padd tokens.
-Presence of Padd Labs that will source out and incubate top projects on the KCC.
-Vast utility of $PAD token which involves, staking for allocation, staking to gain Padd, buy and sell of NFTs on NFTs realms and Governance!
FIBOBEN: Okay. Let’s move over to the last question before we open up the group for the live session.
@williamHuCn- The only thing I would like to know is would you guys have any compensation plan for pre-sale users?
ALEXJAYPEE: Hello Williams, Yes! We will be compensating our Pre-sale users who claimed with 40% tax. The tax will be refunded to them during the issuance of the new token. Users who bought on Kuswap will also be compensated – we distributed a form to collect these information and our Devs are working on it. We are committed to ensuring that our investors interest is fully covered.
FIBOBEN: Okay. Thank you so much @AlexJaypee. The group will be opened for 5 minutes to collect questions for the live session after which it will be closed.
Lots of questions. So @AlexJaypee will attend to five questions from the live session
Mr. LO: When is the padd relaunch will be?
ALEXJAYPEE: Hello Mr. Lo! We will be announcing this tomorrow. Please stay tune to our announcement channel.
JOS BATLAR 0033: I want to invest to your project. Where i buy your token? Is it available on any exchange?
ALEXJAYPEE: Hello Jos B, We will be announcing our relaunch date tomorrow – please stay tuned to our announcement channel.
SHADOW: Can you share your roadmap? Which utility do you think is most confident about your project?
ALEXJAYPEE: We already have a partnership with NFTs Realm – as we work closer, we will be exploring different areas to ensure that we satisfy our investors.
BOOERN: Is your project a global project or not? can any user/people be part of your project?
ALEXJAYPEE: Hello B, We are a global project. Hence the reason why have different communities. From Chinese to Vietnam to Japanese Community.
FIBOBEN: Okay. Thank you so much for your time.
ALEXJAYPEE: Thank you Fibo Ben.
FIBOBEN: We’ve come to the end of the AMA. A recap will be available shortly for those who missed out on the AMA. We’ll be publishing the names of the AMA winners via our twitter page. Stay tuned. Once again, thank you @alexjaypee.
Join us on our different social media channels:
Telegram Group: https://t.me/paddFi
Telegram Channel: https://t.me/paddfinance