Ask Me Anything summary — February 9th
On the 9th of February 2022, the CEO of CasperPad held an AMA on the Telegram Public Chat. During this AMA a lot of exciting questions asked by the community were answered. Don’t worry if you missed it, because we have captured the most important parts for you to read in a quick summary!
Intro by Abdallah
We have some new partnerships on their way. Casperpad is going well, albeit also very crazy. We’ve launched many things the past few weeks; rebranding of CasperPad, the new website went live, staking went live. We’re very pleased to be able to share that at the time of the AMA around 2100 people are staking their CSPD for a total of 33,000,000 CSPD staked.
We will hold an AMA with representatives of The Swappery soon.
Note. At the time of writing, there is a total of 48,000,000 $CSPD tokens staked.
On which networks does CasperPad plan to launch its projects?
It’s called CasperPad for a reason; we plan to launch projects on the Casper network, but can launch on other networks as well, as long as the Casper network is included.
Is CasperPad a company or is it a platform? It is decentralized so not a company, right?
CasperPad is decentralized, indeed not a company.
Can you please share some information about your team?
It’s the companies listed on our website. Development is done with DEV teams. This is Freeflow. We also have auditors internally auditing contracts.
When will CSPD migrate to the Casper ecosystem?
When a bridge is done CasperPad will move to Casper.
Do you have an idea how much % APY the staking rewards will be when things cool down? Or will it be like now; depending on how much is staked in the stake pool?
There’s a defined amount of CSPD in the staking pool. This means that the more CSPD is staked in the staking pool, the lower the APY.
I would like to know how much time we can expect between each launch (on CasperPad)?
The first launch will be The Swappery, which is a big project. After that, there will be a smaller project launching. Expect around 2 months between big projects. Approximately 1 small project will be launched in between big projects.
Can you share some more information about “The Swappery”?
The BSC-Casper swap is already nearing its finish.
Can we see the Team behind each project?
It depends on the project, they can be anonymous. It’s up to the projects themselves to decide if and how much they want to share about their team.
How many people are in the team that evaluate projects for launching on Casper-Pad?
Projects that want to launch through CasperPad go through a scanning process done by the Advisors.
What do you think is the important difference between Casperpad and other launchpads?
CasperPad exclusively launches projects for the Casper Network. It’s the first launchpad for the L1 Casper blockchain, which is a big thing.
When will the tier level updates end?
After the unlocks we will be continuing in a hybrid matter. It will depend on the projects that are being launched. People who stake enough can join the IDOs.
Will you have other projects of your own?
No. We want the Casper community to come up with projects to launch. If we do launch our own projects, then we will state so beforehand.
Can you share more information about the audit done by Solidity? At what stage are we?
The audit is ongoing with Solidity. It’s actually due in a few days. In the end, it is a third party, so we can’t decide for them when they finish and we don’t want to push a deadline on them. They are helping us by auditing. Every project that launches through CasperPad will be audited. There are also people part of our team who are auditors by profession who have checked the contracts before they went live.
What will Casperpad prioritize for the IDOs it will establish? So what’s important?
We prioritize projects that make it possible for more people to join the Casper Network. We want people to build on Casper. Think of a DEX(Decentralized Exchange), a marketplace, a bridge, etc.
We had been talking about deflationary tokens so far, and to my surprise, the unstaking penalties simply return to the pool, without any burn… Has the deflationary aspect been canceled?
This has definitely not been canceled. After public unlocks end, the burns will start.
CSPD is a utility token to participate in IDOs.
BSC network will not be used after you start using the Casper network? Or will both networks be used?
Both networks will be used.
After some projects have launched through CasperPad, it’s planned for CSPD to be listed on CEXs.
Are partnerships with other projects in the Casper ecosystem planned in order to complement each other?
We are open to collaborate with other projects in the Casper ecosystem.
About the new website
The website will be updated regularly, make sure to check it. Advisors are our main team. We will release more and more information about advisors.
Will there be a mechanism to auto-compound in the stake pool?
This is not planned. Staking CSPD is not a DeFi solution.
Can the CSPD team implement a button to transfer the CSPD rewards directly into the staking pool, instead of moving into Metamask wallet and then into the staking pool?
This is not planned as of yet. It is however an option if the community really wants this.
Note. At the time of writing this article, the community has voted on it and we will implement this in the near future.
How is a 180% APY scheme and token burning maintained in the long term… #AMA
There’s a set amount of CSPD in the staking pool where the more people stake, the lower the APY. Unstaking and harvesting fees also go back to the staking pool, this recycles CSPD.
Do you have more projects on your radar?
Yes, we already have more projects on our radar.
The success of IDO projects really depends on the market conditions, especially in the bear market phase. Are you guys taking that into account when planning the release schedule?
Yes, this is taken into account.
How do you plan to restore the confidence of those community members who had a sour taste on the initial CSPD launch?
We are very confident in the launch of the first project on CasperPad (The Swappery). Some of the improvements we have made since we launched the $CSPD token are a new website, a good-looking staking platform, and a very easy-to-use KYC provider. The next launch will change everyone’s mind.
IDO target for The Swappery
This is up to The Swappery but will be released at a later stage.
Why was the project created on the knee chosen as the first project to be launched? There is no working product, application, social network accounts were created just yesterday? It looks like dust in the eyes, don’t you think?
The project will launch with the launchpad. There won’t be a working product until the project actually launches.
Why are 98% of the coins unlocked on BSC? Can you lock wallets to avoid potential rug pull?
98% of the tokens are not unlocked.
New staking pool?
The new staking pool with lower fees will open this week, there will be a button to migrate from the old pool for people already staking. All details will be provided when the new pool is live.
Note. At the time of writing this article, this has been completed. Read more information here.
Hey Abdallah, thanks to you and the team for all your efforts on the project to date. Can I ask your background before you took your role at CasperPad, please?
My background is in IT and I’ve been in the crypto space for 7 years now.
Will you publish the date of the snapshot for the first IDO?
Yes, we will definitely publish this.
Thank you to everyone that was in the AMA, we will see you next time!