PolyDefi IKO AMA Transcript

On the 23th September, we held an AMA in our telegram main group with Prof. POLY from POLYDefi answering questions about their platform and everything coming to our IKO and partnership.

Here is the transcript done by our amazing KoaKoa (aka KoaMama😉) for all of who missed this great time and want to learn more about POLYDefi.

Silfaster :
How is everybody today?

As most of you might already know we have a really exciting presale IKO launch coming up next week with POLYDefi!

Today we have @prof_POLY with us to tell us all about POLYDefi and the upcoming presale.

We will mute the chat for the first half of the AMA, in the second half of the AMA we will open the chat for your questions!

Today we will have a very special prize for the best TG question, so make sure to stay tunes.

Welcome @prof_POLY how are you today?

Are you as excited to launch POLYDefi as we are?

Prof. POLY :
I am definitely way more excited then everybody else. I can’t wait to get started!

How are you doing my friend?

Silfaster :
That’s awesome!

I’m doing great, really looking forward to this AMA to learn more about your project!

Prof. POLY :
Thank you for giving me a stage to tell more about polydefi.

Silfaster :
So let’s start with a brief introduction for those who haven’t read our latest blog about the presale, can you tell our community about your project and team?

Lets get the koalas hyped 🤩

Prof. POLY :
Sure thing!

Excuse me if its taking some time. I will do this AMA live😎

Silfaster :
You know what koalas like to do when they get hyped? Have a danceparty! I think we are going to have a week full of dance parties upto the IKO!

Don’t worry, I’m here for entertainment.

And we really appreciate live AMAs!

Prof. POLY :
So the team is 5 strong.

2 devs: davidev and nico (one frontend and one backend)

Michael our marketing manager

Pollock our creative designer

Me as CEO and CMO

We are all dutch.

POLYDeFi will be a next gen IFO launchpad on Polygon.

We are going to launch new starting projects from our launchpad by raising funds from our community in a secure way.

We will be different then other launchpads because it will be possible to keep earning yield while participating in an IFO launch.

The ultimate goal for POLYDeFi is to become an all-in-one defi platform.

Silfaster :
That sounds great!
So an entire dutch team, did you guys already know eachother? Or how did POLYDefi come to fruition?

Prof. POLY :
So Michael is a really good friend of mine that works for a ICT company of the dad from a girl i know.

Pollock is my niece her boyfriend.

The 2 devs work with michael at the ICT company.

After talking to each other we immediately noticed their was an amazing vibe.

So we went full force ahead to get POLYDeFi ready for launch.

I have been working in DeFi as a marketing manager for quite some time and decided it was time for my own project.

We decided to start with a launchpad because its the easiest way to fund further developments🚀

Silfaster :
That’s great! Sounds like a really solid way to set up a project!

So you are going to create a launchpad. I think most of the koalas are already familiar with our IKO launchpad. But for those that don’t know what a launchpad is, can you explain to them what it is POLYDefi is going to do and what will set you apart from other launchpads?

You already said something about the possibility to keep earning yield, please tell us more about this! We know our community loves to earn.

Prof. POLY :
So initially POLYDeFi is going to focus on launching new quality projects by raising funds from our community. On top of that we will guide the new IFO project into its first steps into defi (this will be a big part of my job within POLYDeFi).

We will have a tiered system. each tier is having its own minimum requirement of tokens in order to get “unlocked”. When an investor qualified for a tier he can contribute usdc to the IFO and claim his/her allocation.

We will have 4 tiers

  • Level 1: bronze
  • Level 2: silver
  • Level 3: gold
  • Level 4: platinum

The higher the level the more an investor is able to contribute in USDC to the IFO.

Other launchpads make a lot of promises that they eventually are not living up to, for example saying they will truly guide the IFO projects in their first steps but eventually only share contacts.

POLYDeFi will live up to all its promises and our main goal is to make every one of our IFOs succeed.

Silfaster :
That sounds wonderful for the state of Defi! Education, trust and safety are very important. I think it’s good for both projects and investors to help with the first steps in Defi!

About the tiers, are these based on the amount of staked $OCTAGON tokens?

$OCTAGON will be POLYDefi’s native token right?

Prof. POLY :
Ahh yeah so here is the idea: investors get a chance to lock their LP tokens in our native farms: octagon/usdc earn octagon and octagon/matic earn octagon. With locking the LP tokens for a couple of days they confirm their IFO participation. Each tier will require a certain amount of LP tokens to get locked. These amounts will be announced just before the IFO

Yes thats right, sorry. $OCTAGON is the POLYDeFi native token.

OCTAGON however is also our mascotte.

Silfaster :
Earning while staking for an IFO! That sounds great.

Is an IFO the same as an IKO? 🤔So many terms are getting used, I can imagine people get confused.

Prof. POLY :
Yeah so basically all the terms are the same: IKO IFO IDO IJO ICO.

We just like to call it: initial fund offering because that is basically what we are doing😋

Silfaster :
Thanks for clearing that up!

So before we dive deeper in the launchpad functionalities of POLYDefi, can you tell us a bit about the farms?

Should we consider POLYDefi a yieldfarming project with a launchpad? Or a launchpad with yieldfarming options?

Prof. POLY :
Good question! POLYDeFi should be considered a launchpad with yieldfarming options. We will not have crazy APRs because our focus is on launching projects and our investors should benefit from those launches. The yieldfarming is just a little extra we like to give people.

We will have partner staking pools with some good APRs to put those $OCTAGON tokens to good use

Silfaster :
And just to be clear, POLYDefi will launch on Polygon right?

Will POLYDefi be polygon exclusive and only launch Polygon projects?

Prof. POLY :
Yes POLYDeFi will launch on Polygon on the 28th.

However we are thinking to expand to the BSC and Fantom on a longer timeframe. When we get on those chains we will also start launching from those 2 as well.

We have a very clear path that we want to follow towards the ultimate endgoal of becoming an all-in-one defi platform

Silfaster :
Safety and security are very important for cryptoplatforms nowadays, in a world filled with rugpulls and scams.

What will POLYDefi do to guarantee the safety of their platform and investors?

I have to add that Prof. Poly doxxed himself to the Koala Defi team to give us the certainty we can trust POLYDefi.

Will POLYDefi ask for projects to doxx themselves? Audits? Timelocks?

Prof. POLY :
So first about the POLYDeFi smart contracts: Our token is audited by techrate and we are awaiting techrate their final audit on the rest of our smart contracts. Straight after launch we will apply for a Paladin audit to show even more safety

Our IFO launches will be forced to doxx themselves either to the POLYDeFi team or to a third party audit company. Ofcourse they will all need to show a respectable audit before launch

Also the LP tokens, team wallet and big project wallets need to be timelocked

This all to ensure our investors with the upmost security

The team will also do strict due diligence and will have videocalls with the IFO project team

Silfaster :
Very good to hear! Let’s make defi safe again!

Launching a project isn’t a small accomplishment, can you tell us about your shortterm, midterm and longterm roadmap?

What can IKO presale contributors expect at the launch of POLYDefi?

Prof. POLY :
So lets start with short term: short term we want to start launching IFO projects in 1/1.5 months from launch day.

After launch investors can stake into our native farms and within a few days after launch we will have a casino feature with live table games and third party slots. Investors will be able to win big $OCTAGON prizes from gambling with $OCTAGON.

Silfaster :
What! A live casino? Oh boy, just take my money already… 🙈

Prof. POLY :
Midterm we will build out our launchpad section and integrate into the BSC and Fantom and complete the launchpad sections on both chains. (i am aware that this all is not yet in the roadmap, i am giving you some juicy scoops right now)

Long term we will start building on our full platform like DEX NFT marketplace and much more

Silfaster :
That sounds great, plans laid out for the next couple of months, that’s a lifetime in Defi! We’re looking forward to see you guys grow and grow!

Silfaster :
Considering the time I think we should pick 3 questions from twitter before giving you a chance to add some final words to this part of the AMA.

Prof. POLY :
Sure thing!

Silfaster :
And I think we have a nice bingo related announcement, but it seems our dev has gone nuts/bananas/cuckoo!

Prof. POLY :
Tell them Sil

Silfaster :
Sooooo we wanted to give POLYDefi a nice game of bingo next sunday with some great prizes!

So WE PLAY BINGO SUNDAY!

But that’s not all! Before I could change the illustration our dev went crazy….

The prizepool is 1454 LYPTUS at this moment!!!!!! instead of the 450 on the illustration

And I think @prof_POLY added some great prizes to sundays bingo too right?

Prof. POLY :
Woo what thats amazing!

Silfaster :
Yeah the winner will take home hundreds of dollars in tokens, a NFT and a fantastic #sundayfunday

Prof. POLY :
Yeah we will add $100 dollar in $OCTAGON to the prize pot as well

I will make sure that i win that one

Silfaster :
That’s awesome!

On to the twitter questions! I’ve picked 3 questions from twitter

The first questions is from @dosma_12

Dosma wants to know:

we already know that defi is now more risky every day, so many projects out there are “hacked” etc.. i wonder how many team members are in polydefi? and how did you guys meet and work together on this project? and how do you keep money safely from investors in the future?

Prof. POLY :
I just copy pasted that one because it was the same as the first question.

So michael is a really good friend of mine that works for a ICT company of the dad from a girl i know.

Pollock is my niece her boyfriend.

The 2 devs work with michael at the ICT company

Safety is something we have on top of our priority list. We will have every smart contract audited by a respected audit company and we will be transparent in everything we do

Silfaster :
on to the next question

The second questions is from @Geopap52

Geopap wants to know:

What do you think is the future of Defi when crypto regulations take place? Is PolyDefi ready to adapt to any critical change possible?

Prof. POLY :
I think Defi has a very bright future, mainly for the fact that its exactly what crypto is meant to be.

We don’t want banking and governments to be in control of our money. Even bitcoin isn’t as decentralized as it appears to be. Defi will be the future in my eyes

I hope all the meme tokens die tho 😂

Silfaster :
Final question, I think this one has been answered already as well, but most of the other questions are about security, I think your focus on safety and security is pretty obvious, but maybe you have something to add about the NFT market (you know I love NFT!)

The 3rd question is by @wintergreen_tsc, Winnie would like to know

“Can you share about PolyDefi roadmap? Any future involvement in NFT ? Will PolyDefi consider cross chain in the future? #PolyDefiAMA “

And please tell the koalas where they can find your roadmap, docs and information about POLYDefi

Prof. POLY :
So cross chain is mentioned before, we will with time integrate into BSC and Fantom.

Our NFT marketplace will have a big focus because i think NFT is still a market with huge upside potential. We will first release our first batch of OCTAGON NFTs each with its own rarity. Only $OCTAGON holders will be able to have acces to the NFT marketplace.

All POLYDeFi info can be found here⬇️

Tg: @polydefi_community
Twitter: https://twitter.com/polydefi
Medium: https://medium.com/@polydefi
Whitepaper: https://docs.polydefi.io

Silfaster :
I can’t wait for you NFTs. I think OCTAGON, can I call him Okkie?, is awesome!

Do you have anything to add before we open the chat for questions from the community?

Honestly I could have kept asking questions for hours, but for everything that we missed today, we will have a 2nd AMA just before the presale!

Prof. POLY :
Okkie, lol😂😂😂

Silfaster :
Awesome! I’ll just drop the timeline towards the IKO here and will open the chat!

  • 23rd of September: A blog about the POLYDefi presale tokenomics
  • 23rd of September at 4pm UTC: AMA in the Koala Defi TG group
  • 25th of September: Blog: A step-by-step guide and how to participate in the presale.
  • 26th of September at 4pm UTC: The big POLYDefi BINGO
  • 27th of September at 4pm UTC: The final POLYDefi presale AMA
  • 28th of September at 9am UTC: POLYDefi PRESALE DAY
  • 29th of September at 9am UTC: POLYDefi claim and launchday

Question from J. Marin :
How will you control the massive purchase of whales at the IFO? I ask because I have seen how projects launch IFOs, whales take everything and leave nothing for retail investors. So, will there be a mechanism to control this and make IFOs accessible to everyone? 🐨☸️

Prof. POLY : The max Contribution amount will be $1500 per wallet so the whales will be controlled😎

Question from trigger :
How long does it take to consider an application to launch a project at IFO? If for ex I wanted to launch my project in POLYDeFi’s platform,what requirements and conditions must my project meet,what do you pay attention to in the 1st place?🐨
#PolyDefiAMA #Polygon #Launchpad #IKO

Prof. POLY : In the first place we want to make sure that the project is safe and that it has most of its development ready. We are able
To set up IFO launches within a week. But we will more likeley take 2/3 weeks to work everything out in a good and focussed way.

POLYDeFi will create a pre launch marketing checklist. The IFO project needs to check every point listed on that list in order to qualify for the actual launch. The checklist will make sure that the new project has a community backing it up in which the POLYDeFi community can merge jn with

Question from cho1249 :
According to your article, $OCTAGON has a maximum total supply of 30 million Tokens minted prior to launch. Can you tell me where $OCTAGON is distributed and redeemed back to the holder? And how long will the Liquidity lockdown last?

Prof. POLY : The liquidity will be locked for 6 months, after which we will probably lock it again. $OCTAGON will be distributed through our native farms and through partner projects

Question from MIKASA :
You have stated that you will support new IFO projects, how is a project valuable and promising for #PolyDefi? Do you have a criterion for IFO projects that you can help, or will all projects participating in
@PolyDeFi benefit from your support?

Prof. POLY : All project that POLYDeFi ends up launching will get our full support. Projects are promising when they add something new to defi or when they have a clear vision and roadmap on how to reach their goal

Question from cho1249 :
Tiered launchpad pools POLYDeFi will work with tiered launchpad pools. POLYDeFi has a total of 4 tiers, each with its own tier size. i want to know what are the user benefits in tiers? How does this tiered system benefit the POLYDeFi ecosystem even more?

Prof. POLY : It benefits the system because in order to contribute more to IFO launches (contribute more money and have the chance at more profits) you need to hold more $OCTAGON tokens. The more $OCTAGON tokens are held the more the token price will increase, which is good for both the investors and the project

High yields BSC farm brought by the Koalas