BlockTalks x ColorPad AMA Transcript!
We recently hosted an AMA with ColorPad, on December 15th at 2 PM UTC. Many of you might have participated or many of not. But we make sure no one missed out from the knowledge shared by RYN So here we are up with the AMA transcript, for those who missed the live session, this blog post will be a saver & feeder of knowledge for them.
Introduction Questions Asked By Team BlockTalks!
Q1. Could you please introduce Colorpad to our community in layman’s term?
Ans — Colorpad is Web3.0 Application & Leading Decentralized Launchpad for the masses.
Summary ~ Colorpad is decentralized crowdfunding platfrom that is a new way of raising funds in the cryto game industry (Metaverse)
Q2. What are the advantages of Colorpad to the other alternatives in the Blockchain field?
Ans — The advantages of Colorpad is
- Deflationary token mechanism, designed to capture value of network growth
- Specified products have been tested by clients
- Scalable and interoperable technology
- First company launchpad platforms on metaverse
Q3. What are the major milestones Colorpad achieved so far & what are in the future pipeline?
So far, we’re only at the stage of launching the platform in beta mode, Below is the journey of the future colorpad.
Questions Asked on Twitter For ColorPad Team!
Q1. What tools do you have for safe and fast swapping? If the future of decentralized finance will not depend on a single chain, which chains will you work with? Is there multi-chain support?
Ans — So far we just have launchpad beta platform, and the main chains will be use is BSC. Because of all the networks, BSC is the leader and has a significant advantage over other networks like ETH, FTM, SOL, & AVAX. Multi-chain support is currently unavailable and still on development stage.
Q2. You say Colorpad is a cross-chain microcap launch pad, but can you explain to me what microcap means and how this system benefits users? Are you the only launch pad that integrates microcap? What do you achieve thanks to this?
Ans — Yes, right. Colorpad only accept projects with a low-capitalization or below $50m. The reason is to considered riskier than a large-cap stock.
Q3. How does the $ COLOR token contribute to business development and the most important associations of any type of crypto project? How useful and efficient is it?
Colorpad will issue native tokens on the bsc network to facilitate decentralization government and support the colorpad ecosystem. COLOR Tokens will play an important role in acquisition and retention of users for all current and future products.
Below is the utility of COLOR tokens.
Q4. ColorPad mentions that it will offer and introduce cash mining incentives for NFT Launchpad users, where creators and users will be rewarded with a certain amount of $COLOR. Will these rewards be a fixed amount? What will the increase or increase of these rewards depend on?
Ans — The allocation already set and this reward will depend on the number of increase from the user. This incentive is intended so that users get their rights in the colorpad ecosystem.
Q5. What is IMO? And is it just a nomenclature of those old style fund raising method or this has to offer something different?
Ans — Different, why?
When is IMO done, a project launches a coin or token through a decentralized liquidity exchange, We offer users the ability to return tokens, either they keep them or sell them at profit of supporting 100% of the circulating supply until the completion of the refund process.
If the token value falls by more than the refund value, then IMO users can make risk-free profits by buying tokens from the market and returning them.
Questions Asked by our BlockTalks Community Members during live Session to ColorPad Team!!
Q1. Could you tell us what will be the next events and updates that you will carry out? Among them, which will be the first projects to be launched in Colorpad and more?
Ans — The next event is airdropping some tokens to new users, then they can use that to get best tier on our platform. Regarding the projects will be the first isn’t launched yet.
Q2. With Colorpad, users will be able to participate in a secure launch pad and use assets that go far beyond the current BEP20 standard. Why can we consider Colorpad a 100% secure platform? Do you estimate to carry out multiple audits to the smart contract? What are the security features of Colorpad?
Ans — Best question, all users will be able to participate in a secure launchpad to minimize risk. An audit is in progress, may be released soon.
Below is the technology what we’ve and support:
Q3. I understand that ColorPad will support stable and fiat currencies, what kind of stable coins will you add to your platform? Which ones are currently accepted? And regarding fiat, will you support only USD or what other currencies will we be able to find?
Ans — Ryn | Colorpad, [15-Dec-2021 at 8:10:17 PM]:
The type of stable coin we want to add right now is USDC. So far we have taken the key from global market where they use USD as the main currency. Maybe later we will add EUR & CNY
Thank you for participating in this AMA, don’t forget to join colorpad and stay tuned for the latest updates.