AMA Recap: LAUNCHZONE
On 18 June 2021, Kristen – host from BSC Army conducted a successful Youtube AMA with C.L – representative of Business Development from LaunchZone.
As usual, the Community has a lot of questions about LaunchZone’s path. Our guest from LaunchZone took part in a fascinating AMA session that included the introduction, project in-depth review, and audience questions. If you missed the live AMA in person, read this recap for a more comprehensive look at LaunchZone.
Kristen: Thank you all for joining the live AMA session today with me. I’m Kristen from BSC Army and I’ll be the host for our live today with C.L from LaunchZone.
We’re broadcasting from the BSC Army Youtube channel so if you’re new here, please hit the like button, comment down below and subscribe to our channel because we’re coming back with new live AMA sessions and more interesting videos each week.
Also if you have any comments or questions, please drop them in the comment box because we’ll be selecting the five best comments and we’ll have giveaway rewards by the end of the live.
I’m pleased to announce, joining us today is C.L from LaunchZone. So, could you please tell us a little bit about yourself and the project as well?
C.L: First of all it’s such a pleasure to be here today. I am C.L – currently the representative business developer of LaunchZone.
My story started about four years ago like any other trader in this market. When the market was still new, I thought that bitcoin was like a thing for me to earn big income in a small time, so I tried some margin trading and in the end burned all my trading accounts.
After burning all my life savings, that was when I got a chance to meet with Mr. Tony – our current CEO, and we kind of shared a similar vision of creating a DeFi project at the very start.
After three years of all the hardships and ups and downs, we dropped many models and finally came up with the model currently called LaunchZone ecosystem. After three years of working together, now I’m currently the representative B.D. of LaunchZone and we’ve been in business for like half a year. Hopefully, most of the people here have quite known about us.
Part 1: ABOUT LAUNCHZONE PROJECT
1. That was a really touching story for you. Can you please share more about the reason why or your CEO started the team and started this project overall?
C.L: Yeah, back to three years ago, we noticed that the existence of blockchain is giving a lot more potential for the new economy. We also thought that there’s something that was left between this traditional transition into the new economy. And we also noticed that, when the fire started to show up, there were a lot of projects that appeared and their price increased very fast in a very short amount of time. But in the end, there were very few projects that actually can survive in this market for long, and most of the tokens ended up being rug pulls or added value.
Our solution was that we want to create a platform to establish a very clear connection between real projects that are potential enough to survive in this DeFi market for a long period of time. On the other hand, we can connect the real loyal investors and create a very healthy community of loyal investors to stick with us and invest in the startups that would have a potential.
That was the initial idea of LaunchZone: establishing a clear connection between investors and also DeFi startups. We hope that by doing this the fund of the community can reach the right place of developing the potential startups. Then, when the startups are strong enough to be on their own, they can actually bring value to this world by their solutions.
2. As you mentioned, you guys want to bring some potential to the members of the community. What exactly are you referring to, what potentials are there?
C.L: Well, the reason why we call ourselves LaunchZone was that in our vision in mission, we see ourselves as the incubator for DeFi projects and startups. This incubation process involved launching the project helping the project having essential tools. That is why we call ourselves LaunchZone – an incubator zone for new startups and projects.
As mentioned earlier, what we do is evaluate the project and decide whether we should launch them and support them on their way to develop themselves in the DeFi market. So the potential that we are actually bringing is the evaluations of real potential projects to get them to the right available fund of our community and clear connection between investors and projects right.
3. In this certain market, I know that transparency is the key. So I think the viewers would want to know more about your team members and how many members are there or what are the positions and who are you working with their developers and advisors?
C.L: Well, thanks. Since we are an anonymous team, I may not be able to share with you all the details on our team. What I can say is that since we are quite superstitious and since our team consists of individuals from different nations, we are a mix of 12 different individuals from all over the world from different countries and also levels in this market. You can refer to us like the 12 angels but hopefully, that’s the case.
The core team consists of 12 people and each member is a leader of a different sector to maintain the operation of this project. We have a few guys in charge of tech, and in the tech field, other in charge of UI and also others who are in charge of back-end and stories like that. Since I am the head of BD, my main field is connections and relations with other projects. And for the support, we are able to get a very good connection with fellow investors to create our current community.
Apart from the core team that is currently running the whole operation of LaunchZone, our smaller teams can be about 500 or 600 people if my memories are correct. So that would be quite a big machine up and running in motion. And this pro machine has been helping us gain a very close relationship with other partners in the field including Bakeryswap, PancakeSwap, Halborn audit, Certik, and also other well-known names in the field of BSC projects.
4.That’s a really impressive way to DeFi tasks for each person and I love how each of you is in charge of one field, one aspect only. So, altogether what products have you guys came up with, or are you guys working on or have been released?
C.L: Well, LaunchZone ecosystem currently consists of three main different products that are called SwapX – our AMM aggregator, secondly it is PoolX – our yield farming product, and lastly PadX – IDO launch product.
Since our vision is to establish full support for DeFi startups, each of these products was created to make sure that we can give projects that launched on our platform liquidity, decentralized exchange listing for their token, and also relations with other partners in the field.
5. What are the main functions of each product?
C.L: SwapX, like I said, is our AMM aggregator, so it is like a Decentralized exchange. We have a very good mechanic of dividing the order into small orders to make sure that users on SwapX can get a better swap rate for their trade.
PoolX’s main function is creating LP pools to provide liquidity for the tokens that launch on our field or on a project. Currently, we’ve also updated our PoolX to stake the NFT tokens. This is quite a new feature.
PadX is the main product that helps us to launch IDOs on our platform. Whenever there’s a new project that wants to launch on our platform, PadX will be where they show up to the world.
6. That’s really interesting. We would like to know more about the business model. Could you share with us?
C.L: Yeah, sure. Talking about our model, I will have to talk about our BSCX token.
The idea is that the BSCX token is the governance token of our ecosystem and also the equity, this means that the BSCX token can help you activate many valuable functions of the platform. If you want to activate your referral link on PoolX, you can stake the LP tokens between the BUSD token and also the BSCX token in order to activate such a link. If you use this link to refer other people to use our system apart from their transaction fee and also yield farming token shall be transferred directly to the referral. That would be for PoolX.
For PadX, since we have a very big community hunting for our IDOs and also a lot of free investors who come to us to buy the IDO spot, the BSCX token works as a way to eliminate and decide whether who would get the spot to buy IDOs. Now if you want to buy the IDOs on PadX, you need to lock a certain amount of BSCX token in order to exchange for the lottery ticket. Once you win the lottery, you can earn a certain spot to purchase the IDOs using also the BSCX token. The model here is that we get the BSCX token as the way to pay for valuable services. When projects come to us to launch their IDO, we will also have a negotiation with them to get a certain commission from the launch. That is currently how we generate our incomes and how we deal with the BSCX token.
7. You mentioned unlocking the token. So what kind of plans have your team come up with about the token unlocks in the future?
C.L: It’s not really like a token unlocking program. What I just said is that in order to buy IDO spots on PadX, you will need to lock a certain amount of BSCX to earn the spot. It would last for six months.
For example, if you have 1000 BSCX tokens, you can go onto PadX and trade for 10 different lottery tickets. For six months, just by holding that amount of BSCX token, whenever there’s a new IDOs you can get a chance to win the lottery ticket and purchase the IDOs spot that you claim with your BSCX token.
After a period of six months, the BSCX token that was locked for IDOs spot shall be released. Users shall have options to whether to lock the BSCX token for more IDOs sessions in the future or they can just unlock it and trade it just like a normal token.
8. Thanks for your detailed explanation. I understood the concept. I have one more question about the BSCX price. What do you think could possibly affect the price or increase the price of this token?
C.L: In my own opinion, what really affects the price of the BSCX token is the value of our reputation and also our capability to maintain a good community. The main functions of BSCX tokens so far are to create IDOs spots. By making sure that our evaluation stays well and we can offer more potential startups to be launched on PadX, it means that there will be a lot more people who want to purchase our IDOs spots. The more people want to purchase the IDOs spots, the more BSCX tokens should be locked and the more demand for the token shall be generated to purchase it. By maintaining good operations of PadX and introducing new potential startups, the demand for the BSCX token shall be increased by the lock period and also by the new demand for tokens to be launched.
Another thing is the community itself because so far our vision is to connect the community of investors to the right project. So by maintaining good communications with our community, we can ensure that they understand all that’s happening in the ecosystem and they know what to do and their reputations sure keep us having more members.
In the end, it will generate a continuous flow for BSCX token for the market, or at least that’s what we plan.
9. Since there are so many people who would want to join and desire to own or hold the token, can you explain your distribution of this tokenomics, specifically how many tokens will be mined and how many tokens will be locked by the members by the team?
C.L: In our vision, since we wanted to create a fully decentralized and also transparent system, at first BSCX tokens to supply were at 100 million. After a community vote, 90% of our BSCX token total supply was burned and leaves the BSCX tokens total supplied with only nearly 10 million left in circulation and also available in this world.
So, the distribution for the BSCX tokens was done by yield farming. Since 90% of the token was burned, farming for this token was finished long ago. Now there can be no more new BSCX tokens to be generated as well as there’s no more new performance for the BSCX token.
For our farming mechanism, at the first stage, people can farm for BSCX tokens and the thing is that the reward token was divided into two portions: 20% was rewarded directly to the users who farm using the LP tokens and 80% were locked for one year period in order to maintain the liquidity for the token and also to make sure that we are not being rugg pulled or flushed away by the market.
That’s how we’ve been dealing with the token.
10. Since there are so many scam projects in the market nowadays, can you guarantee that your project differs from them and what are the reasons for an investor to invest in LaunchZone?
C.L: Well, talking about this field, I can actually give you two different answers.
The first thing is that personally speaking. All of us are different and we all came from different countries and worked different time zones. The thing that bonds us is the vision to create a healthy platform to contribute to the well-being of the world economy. So emotionally speaking, the idea is what sticks us together and what makes the whole ecosystem valuable.
Professionally speaking, we have been through four different audit processes from Certik and also very chains, so all of our products and smart contracts have been verified to be valid and also clear for business.
Because we have been able to maintain good connections and also good operations during our period, we’ve been having a lot of healthy connections with big partners in the field including Pancakeswap, Bakery Swap, and many other well-known names like Certik and Helmet. Since the partners are also very well-known and professionals in the field, we believe that by working with them and expanding our range of services, users can have the fact that we are not running away from our partners or even them.
Thank you for your detailed description of the project. We’ll move on to the second part of the live session which is talking about the business plan.
11. The first question that I have for you is that I would like to know about the roadmap. How has the business been doing and what are the next targets and what are the next moves that you guys have planned?
C.L: Since our launch in December 2020, we have decided to create the three key products within the first quarter of the year 2021. So far we’ve quite successfully pulled up with this road map by introducing SwapX, PoolX, and also PadX.
In the next quarter, our plan changed quite a bit. According to the first roadmap, we are supposed to create the DEX product that is a fully functional decentralized exchange. However, since the market demand has been a little bit changed, the DEX launch shall be left until the end of this year. During the next quarter, we shall introduce the new product that is called InnoX and perhaps another NFT marketplace to cover all the spending and demand for DeFi projects.
So we have been running and testing InnoX constantly and all the smart contracts are also under audits for now. Hopefully that during the next quarter, we can make it in time to introduce you to InnoX for the world and expand our business.
12. Well, so it’s clear that you guys are focusing on InnoX right now?
C.L: Yeah you can say that. We also have been working with a lot of upgrades for SwapX and PoolX, so just recently our PoolX was upgraded with NFT staking for our strategic partners. Now you can also go to PoolX and try to earn some NFT tokens just by staking.
And soon also during the next quarter, SwapX shall be upgraded with the limit order function and we believe that this function should greatly help investors to have more options and also freedom with their transactions.
13. It’s a little bit ridiculous to ask this but can you give us a little bit of a sneak peek about what are the goals or what are the developments that your guys are planning on?
C.L: As mentioned from the first, our main business focuses on incubation of potential startups. So the idea is that we’re gonna provide all the necessary help for a new project to survive in this market. That was the reason why three key products were SwapX to provide an exchange for the new token to be released, also PoolX to provide liquidity options for the new IDOs project that launched on our platform, PadX is of course our gateway to introduce new startups to the world.
So InnoX would be a product that would help even non-developers know how to open their own project and intellectually the product to give full support in terms of technical advice and also a smart contract for any new project. As long as you have an idea that it can actually create value to the world, you can submit your application to InnoX and we’re going to provide you with the necessary support that you need to create your own project.
The decentralized exchange was also a thing that we’re purchasing in the future, so now the limit order function of SwapX shall be a great foundation that we are testing with to make sure that when the DexX is introduced on our platform, it is fully functional, it is fully stable as well as it’s going to be fully convenient for users.
14. That’s a really amazing plan ahead and I love how you always have a clear vision of where you guys are growing. Is there any challenge that the team is facing right now and how do you guys overcome it?
C.L: Talking about DeFi projects, we are looking at a bigger picture of the decentralized economy in general so we all know that at this point after the adjustment in the price of bitcoin, the market in general has been facing a very low period.
After we reached our peak at nearly 30 USD per BSCX token, the price has been pretty much down from that peak. Currently, we have been under a lot of pressure dealing with our constant updates on our product as well as the development of new products.
So, the two things that we’re facing mostly for now, are: first is the market pressure from the dumps and also the community’s disbelief because they seized them; second thing that we actually have to face every day is the constant workflow that we have no way to get ourselves out at this point. Our solution is pretty simple, sticking our head to our vision and knowing what we’re doing as long as we can survive through this low period of the market and as long as we can successfully introduce all the necessary upgrades and stay in the business with our product. We have no doubt that there’s going to be a very bright future for our project or at least the 12 angels of our core team in the media.
Kristen: That sounds really motivational and I hope that you guys will achieve your goals and overcome all the difficulties in the way.
15. We’re moving on to the next chapter of this live which is the marketing strategy. How is the community growing on telegram or on Twitter and can you give us a little update about your social signals?
C.L: I can share with you that during our high operational period, the BSCX token as well as LaunchZone was running the Binance Smart Chain project with top social signals on Twitter and also telegram.
The reason why we were able to create this outcome was that there was a new program that we called the BSCX Heroes Program up and running to boost the interaction from our community and also the interaction between our social sites.
The idea is that instead of simply let people locking BSCX tokens to attend the IDOs spot, our members can also attend the purchase of new IDOs by interacting with our social posts and new events on Twitter. When they do that, they will take some certain points and we’re going to calculate the points and keep free IDOs spots for the top contributors.
By doing that we’ve been able to maintain a very vibrant connection between our investors and also our project; because every time a new post or tweet was published by LaunchZone, it will get tons of interruptions from our community and also from the people who want to hunt for their free IDOs spots.
With our current marketing strategy, we’ve been able to get our users to become more active with our posts and updates and also been able to maintain a very clear expansion and method for the whole system.
16. We’ve known that community support is one of the most important aspects of project success. Most projects have programs that interact with their users or help boost the community.
So for LaunchZone, do you guys have any special or technical plans to attract or expand the community globally and improve the user experience?
C.L: As I mentioned earlier, the BSCX Heroes Program was one of our hits to increase our social interactions.
Since the model is pretty outdated now we’ve got quite some new experience in dealing with social interactions and also public attention. Instead of doing everything by ourselves, now we have been able to get ourselves in a very healthy business alliance with different projects including BSC Army, EzDeFi, and BakerySwap.
What we do is that whenever there’s a new event that involves the interactions of each product, our business alliance is gonna work to create the most potential in social interaction for each event.
By dividing this marketing strategy into a bigger alliance, we can have more exposure from every community that is run by each independent project. The long story short is that we have more communities and also less workload to deal with.
Part 2: Q&A
Kristen: Thank you for your share about all the plans and overalls about the project.
Right now, we’re moving on right into the Q&A section and I’ll be selecting five best comments that the viewers have dropped in the comments box for us.
I’m seeing this viewer has some really interesting questions. The first question is: When will InnoX come out? LaunchZone has been teasing them for MONTHS! I really want to create my own token guise.
Can you share it with us?
C.L: Well, it is quite a good question because according to our first initial plans, InnoX was supposed to be introduced to the market by early June. Because we had some problems in UI and also we had to change the whole frontend of the product, now the audit process has to go all over again. So, we’ve been dealing with it and hopefully, we can get it up and running in the next quarter, hopefully somewhere between July or August.
If you want to know when InnoX is really gonna be out there and in motion, just stay tuned to our social updates and you’ll know what to do and when to expect.
Kristen: Well, I hope that the project will be launched soon and successfully.
The second question that we’re having right now is: the current IDOs mechanism is not attractive enough to make investors hold their BSCX, will there be any changes in the near future to keep investors stay?
C.L: I’m pretty sure that this question was the consequence of the two problems that we recently faced with our IDOs.
The first one was FOC token and the second one was a very recent IDO that we decided to cancel.
The reason why there was actually a problem arose was that the two projects were doing IDOs on multiple platforms. What really happened was that during the IDOs session and after the TGE event, our token arrived late so the purchaser of the FOC token actually got the token later than the other platforms and ended up getting the dump from other platforms. And we also got a lot of aggression on this.
The second case was from Mars. It was also a multi-platform IDO that we decided to do but right before we launched our IDOs, there were some mistakes and also miscommunication between the Bakery Swap team and Mars team. Instead of doing the IDO simultaneously, Bakery Swap actually sold the IDO much sooner than we expected. So, as a way to make sure that we can protect our investors from the dumps, we decided to cancel the IDO at the last minute and that is why we’re getting quite some confusion about our IDO mechanism.
In the future, BSCX tokens shall still be used as a way to tell who should get the IDOs. This is a thing that we might not change throughout the whole process of our operations. During this recent period, the BSCX Heroes program was actually decided to have an end. There’s going to be no more IDOs spot for our Heroes only but everyone gonna get more rounds with different amounts of BSCX tokens to hold in order to attend the IDOs sessions.
So, what makes our holders want to hold the BSCX token is the belief that we’re going to introduce to the world more and more potential startups and projects that can guarantee a high rise in income.
Kristen: Sorry are you done? Because I kind of missed out a part.
C.L: Yeah I just finished the previous question.
17. Okay so we have one more related to the IDOs. Can you explain why the Mars IDO was canceled? We had high expectations for it?
C.L: Like I just mentioned during my previous answer, since Mars decided to launch their IDO on multiple platforms, we got a miscommunication in scheduling. Right before we launched our IDO on Padx, most of the IDO was done on another platform and there were a lot of users who bought and made the price pump very hard.
In order to save our users from the dumps and bad reputation of our platform, we decided to call it off at the last minute. It was also a big loss for us because Mars is a very potential project that we had a lot of expectations on, but because our investor’s safety is on the table we cannot risk that so we decided to call it off.
18. We’re moving on to the fourth question: Does LaunchZone have any projects about NFT this month?
C.L: Do you mean in terms of IDOs or is it like just the NFT relation in general?
Kristen: I think he’s referring to the NFT in general because he doesn’t specify it in the question.
C.L: First of all, in terms of IDOs, we were actually having some negotiation with other projects. Since the official choice from the B.O.D. we haven’t decided to actually deal with any other IDO project.
So the IDO NFT shall still be a vacant spot until these points.
Regarding our model we’ve been having a business alliance with BakerySwap and also Bondly, and also we’ve been creating a gallery that is shared by our partners and also our users.
We’re gonna get it published and announced that it is an alliance and the NFT should be an option to get on LaunchZone. and at this point, you can actually stake the BARMY token in order to exchange for iBARMY and this is like the first upgrade that we have related to NFT.
Kristen: This is such exciting news for all of us, I believe. I think we’re all looking forward to hearing the news on your official sites.
19. For the last question: How do you reduce price slippage?
This is such a new topic that we haven’t mentioned yet. Could you share a little bit about that?
C.L: A thing about the DeFi transaction is the lack of liquidity. Whenever there is a new transaction with a high volume being placed in the platform, the system is gonna generate it and transfer the token from the LP pool to generate the transaction for the users.
By generating the direct orders the slippage might get too high because the liquidity is something that we have to be careful about.
With SwapX, the thing that we tried to do was to divide the orders of the transactions into smaller orders and try to route them into suitable LP pools to decrease the chance of slippage and also to utilize the slippage for the transactions.
This technology is what we call the AMM+ technology and this pretty much helped our SwapX gain its place among the top decentralized exchanges on dappradar just like a month or two ago.
You can actually still try SwapX and see the difference between our AMM aggregator compared to another aggregator in terms of the slippage, and you’ll see the difference
Kristen: That was pretty much it for our conversation today. We will be contacting all the viewers that have left the comments and we will inform them about the prize and the reward for the giveaway later.
Thank you all for staying until the end of this live AMA session. Also thank you C.L for spending your time today with us and your share. It was nice talking to you.
C.L: It was a pleasure for me, too. You are such a friendly host, Kristen.
Kristen: Thank you for your time. We’re closing up the live but we’ll be posting the video on our Youtube channel later, so please stay tuned and have a nice day.
LaunchZone aims to become the project offering all of Binance Exchange Off-chain services to its on-chain users. Up to now, they have also had outstanding growth with an ever-expanding ecosystem, promising to thrive in the near future.
Disclaimers: Writers’ opinions are solely their own and do not constitute any financial advice, investment advice, or trading advice. BSC Army strongly recommends that you do your own research and seek professional advice from a financial advisor where appropriate.