PolygonDaily hosts PolyDefi: #PolyDefi #PolygonDaily #Polygon
Polygon_Daily Admin: Hello and welcome, how are you today?
Prof Poly: Thank you for having me over my friend. I am doing great!
Polygon_Daily Admin: Happy to hear! Ready to start our AMA?
Prof Poly: I was born ready.
Q1: Now to start the AMA, team PolyDefi please have a quick introduction to the community about your project and what will it solve?
Prof Poly: POLYDeFi will initially be a transparent next-generation tiered IFO launchpad running on the Polygon chain. In its MVP the POLYDeFi native token $OCTAGON will be a yield farming token, until the launchpad is fully developed. In the time between our own launch and launching IFO projects from our launchpad, we will have a huge focus on building a community.
So what is an IFO launchpad you say? Let us explain:
IFO stands for Initial Fund Offering. POLYDeFi is a project that strives to decentralize the way in which new projects coming to the Polygon network raise funds.
Our Tiered IFO platform will help new cryptocurrency projects to raise funds by letting investors lock their liquidity in our native OCTAGON/USDC farm, the amount of LPs locked makes the investor eligible for one of our 4 tierpools, a tierpool is based on a fixed purchase rate for tokens. POLYDeFi its native token ($OCTAGON) holders can stake USDC according to their tierpool and receive an allocation of the IFO.
In this case, a tierpool is nothing more than a contract that manages the accessibility to other pools, so basically it is nothing more than a contract that manages access, contribution and distribution of tokens.
With POLYDeFi, new DeFi projects will be able to raise funds cheap and fast. $OCTAGON token holders will be able to participate in IFOs in an upmost secure way on the Polygon network.
Our launchpad system will work in a different way than other launchpads. While participating in a POLYDeFi IFO you are still generating Yield from our native farm. More can be found in our whitepaper: docs.polydefi.io
Q2: Please share with us the background of the team behind this project. What are your past experiences?
Prof Poly: My name is Prof. POLY and I am the CEO and founder of POLYDeFi. In real life I set up multiple successful businesses in the sports branches, clothing branches and in the marketing branches. After realising I actually didn’t enjoy working for any of these businesses, I went looking for something else. In the beginning of 2017 I noticed crypto and I immediately saw the great potential that it had.
My first bullrun exceeded all my expectations and I invested in ICO after ICO. Life was good until the Bullmarket ended, I started to lose money and I didn’t have any more money to invest with. I thought I might try to get myself into a crypto project team to get myself some more investment money. During the bear market I worked on a couple of projects, from which I learned a lot in matters of advertising crypto projects and managing communities.
When the bull market came back in 2020, I went looking for new projects to work on. With the previous gained experience it was easy to get on new project teams. I ended up working on multiple launchpad projects and some yield farming projects. I loved every second of working on these launchpad projects but I noticed there were some flaws within the system they all used.
I left the launchpad projects, thinking that I could do it way better than they did. I reached out to some of my contacts and asked them if they would like to work on their own launchpad project. They said yes and so POLYDeFi was born. POLYDeFi will succeed because of the experience that the core team has.
As CEO I will guide everybody in the right directions, do marketing, set up partnerships and guide IFO projects in their first steps into the DEFI world.
Also on the team:
– We have 2 amazing devs who have major experience from working on big projects on the eth network. They have worked as a team for a couple of years now
– A marketing manager that has worked on multiple BSC projects
– A graphic designer who has worked for stone island Gucci and Louis Vuitton
Q3: Can you walk us through PolyDefi’s ecosystem and it’s unique offering? What are the benefits PolyDefi will bring to the ecosystem?
Prof Poly: With POLYDeFi investors are able to keep generating yield while participating in quality IFO launches.
So they will have double benefits where on other launchpads they only get 1.
A lot of projects in this ecosystem are run as a hobby or as a side project. POLYDeFi will be ran like a real-world company. We will truly stand out.
Q4: Can you share with us more about IFO Launchpad?
Prof Poly: At POLYDeFi we have 2 native farms, in which you can either stake your $OCTAGON/$USDC LP or your $OCTAGON/$MATIC LP to earn $OCTAGON.
Both of these farms will have an unusual withdrawal fee of 4%. This means that the project is getting LP tokens from the people that make withdrawals from the native farms. Liquidity from these LP tokens will be removed and $OCTAGON and either $MATIC and/or $USDC will be leftover.
The $OCTAGON tokens that are generated from the withdrawal fee will get redistributed through our native farms and they will be used to top of partner staking pools.
The $MATIC and/or $USDC tokens will be used for buybacks and marketing purposes.
This farm will work like any other farm that you are used to, except from the above-mentioned 4% withdrawal fee.
Initially this farm will work the same as any other farm you are used to, except from the fact that there is a withdrawal fee maintained. When an IFO launch is coming up, we will enable a “lock LP token” button. This “lock LP token” button will give you the chance to enter either one of our 4 Launchpad tiers by locking your LP tokens inside the farm. Each tier requires a different amount of LP tokens to be locked. The more LP tokens you lock, the higher your tier, the more allocation you can grab. By locking enough LP tokens, you confirm your IFO launch participation. Locked LP tokens are locked for a pre-announced amount of days. During these days, in which your LP tokens are locked, you will still generate yield from farming.
Q5: Let’s dive into your token $OCTAGON. Can you share with us your tokenomics? What are some of the $OCTAGON use cases?
Prof Poly: OCTAGON has/gives:
Maximum supply of 30,000,000 tokens
Access to exclusive IFO launches
Early access to new project pools/farms
Manual burn mechanism on special events and when needed
Access to unique POLYDeFi features and contest
Access to the POLYDeFi NFT marketplace
Access to the POLYDeFi casino
The casino feature will be probably be implemented within the first week after launch. We are talking live table games like blackjack and poker. Dice games, third-party slots. All on our website DApp.
Q6: How do native farms work?
Prof Poly: Basically they work the same as normal farms that you are used to. They just get an extra lock button that confirms your IFO participation and locks your LP tokens for a couple of days.
Q7: Can you share with us about your partnerships & influencers you are collaborating with?
Prof Poly: So unfortunately I can’t disclose too much yet. I have agreed on a launch with a very well-known project.
We have 2 more partnerships lined up to announce pre-launch.
Also we are finalizing talks with a major dex to back us up after launch when we add our liquidity at their AMM.
We are launching on the 28th of September and we are probably announcing the launch partner within 2 days.
Q8: Where can we find out more about PolyDefi on social media?
Prof Poly: These are our socials:
Polygon_Daily Admin: With this, we are now at the end of our AMA session with PolyDefi.
Time for wrapping up, any last words you would like to say to our community?
Prof Poly: You guys were amazing, thanks for all the questions.
Polygon_Daily Admin: Thank you so much for spending time with our community & all the very best for PolyDefi.
Source : cryptodaily.io