PolkaParty AMA with Gem Collectors
The following is a transcript of our Founder Tim Baldwin’s conversation with Gem Collectors Telegram group.
Crypto_Thai, [Jul 2, 2021 at 2:10:22 PM]:
Can you tell us about your amazing project?
Tim Baldwin (Will not PM first), [Jul 2, 2021 at 2:13:06 PM (Jul 2, 2021 at 2:13:45 PM)]:
PolkaParty aims to create a favorable DIY DAO service that is designed for anybody to tap into the larger aspect and power of group finance. The goal of PolkaParty is creating a universal platform to make its stance in the space as the on ramp to DeFi, since as of right now , there are many technical barriers of entry for retail investors to amass the emerging gains of the prominent industry. The ultimate goal throughout the PolkaParty experience is allowing all users to become easily integrated into the entire ecosystem of DeFi, without having to understand the vast amount of technicalities in decentralized finance. Our belief is in creating an easy to understand user journey, as individuals will have the opportunity to chat, research, and immerse oneself in a respective party with more experienced figures, who understand the formality of more lucrative methods within crypto. At the fronthlem of our PolkaParty experience, we heavily focus on an easy to use, and understand system that is driven by person-to-person chatting, similar to gaming features that allows user’s to party up with friends at any time to conquer the challenges ahead.
As a result, PolkaParty is a DeFi service that allows users to pool their money together without relinquishing complete control over that money. This can only occur with the use of a smart contract and is a truly unique and contemporary use of blockchain technology. PolkaParty took this path in order to allow the average Joe the ability to compete with large venture capital funds as well as hedge funds. I came up with this concept when I worked for a huge VC firm that consistently made 10x gains on token listing then dumped on the public. Now large parties of individuals will be able to control their money and be considered a “whale” or fiscal market participant with an influential sum of funds. We created this because we saw a hole in the market. Retail investors keep getting squashed by whales and when chaos is happening, like a bear market, investors need to be able to band together in order to navigate the sea of losses.
Crypto_Thai, [Jul 2, 2021 at 2:15:42 PM (Jul 2, 2021 at 2:20:07 PM)]:
It’s really nice for new people that don’t understand the market to use a tool like PolkaParty. What can a new user expect from this platform to keep us with the current market?
Tim Baldwin (Will not PM first), [Jul 2, 2021 at 2:20:28 PM]:
The new user can expect a social platform that doesn’t rely too heavily on being social, but rather more of a CO-OP game to see who can make the juiciest gains. We see this problem with most social crypto platforms. We find that the utility on them is lacking at times. We are just creating a protocol that allows users the ability to do things with their tokens that haven’t been dreamed of before. We have seamless integration on our platform for fundraising (IDOs, Real Estate, Seed Investing), lending (microloans and P2P), and lastly pooled funds meaning that any amount of users can vote upon the use of a pool/party. Furthermore, New users can expect to been given the proper tools and features to consistently interact with fellow partygoers, as we place P2P interaction as a designated goal from the beginning. This experience of building and nurturing a community will create an aspect of gamification (imagine guilds from Wow), as the platform’s internal roots are derived from the beloved aspects of crypto communities. The platform will begin to organically grow in volume, users, and overall activities, so will the competitive association with respective party’s. This distinct quality is the reason for a Social Board, an all exclusive dashboard for Partygoers to have completely accessible data upon rankings, funds, and growth of the most premier party’s on the platform. This mechanic set in place where we place competitive rankings on a digestible metric board allow for the influencer and retail space to rapidly expand, as notable influencers will need to follow up on their word about the “massive” amounts of gains they make in the space.
Crypto_Thai, [Jul 2, 2021 at 2:22:07 PM]:
Feel free to share some UX/UI designs/videos
Our community would love to see how this platform operates
Tim Baldwin (Will not PM first), [Jul 2, 2021 at 2:23:15 PM]:
Yes of course
we are working on a clickthrough UI for our website at the time being but ill share some screenshots here
Crypto_Thai, [Jul 2, 2021 at 2:24:35 PM]:
“We are just creating a protocol that allows users the ability to do things with their tokens that haven’t been dreamed of before”
This means a lot for the utility of tokens. Can you name some key elements we can expect for using this coin?
Tim Baldwin (Will not PM first), [Jul 2, 2021 at 2:24:50 PM]:
The adolescent ape at the bottom is actually a users avatar. we have NFT objectives for all users that can be added as items to their avatar. This way you can customize and show off your polkaparty prowess.
Crypto_Thai, [Jul 2, 2021 at 2:26:21 PM]:
That’s awesome
Crypto_Thai, [Jul 2, 2021 at 2:26:34 PM (Jul 2, 2021 at 2:26:36 PM)]:
Thanks a lot for sharing
Tim Baldwin (Will not PM first), [Jul 2, 2021 at 2:31:18 PM]:
Our token will be a crucial part of our platform, as we’ve seen various projects create tokens with no utility. The token itself has a deflationary burn mechanism, but the real utility comes from the fact that POLP tokens will be a catalyst for building what we call a Party Score. Basically, the platform operates by allowing users different tiers of PolkaParty platform use. In order to use all srvices and be part of the most elite groups you need to have built a strong Party Score. You can think of a Party Score as a DeFi credit score almost. One of the more notable products that involve our token is our platform Party Passes, which allow users on PolkaParty to gain NFT abiding registration to accessible opportunities of platform IDO’s, and more exclusive feature offerings. Users who are holding Party Passes will have access to a consistent number of launches for early-staged projects, that will be held within a quarterly time frame. PolkaParty has access to an extensive list of resources & partners for incubator-like tasks, essentially looking for help upon launchpad objectives. These early staged projects will receive immediate verified parties on PolkaParty, obtaining priority promotion on the platform for short term token launchings, as well as for long term product features. This creates a situation for Partygoers to be able to gain access of tokens for favorable projects, as well as highly sought-after Party Passes (NFT’s) that will accrue in value over time. Party Passes will be gained by burning LP tokens from distinct trading pairs, and as a result receive back a Party Pass. Furthermore, we will have a daily shop that allows users access to buy singular objectives using POLP token. We have so many use cases with this token it’s honestly ridiculous.
Crypto_Thai, [Jul 2, 2021 at 2:32:21 PM]:
Do you have an overview about the tokenomics for this?
Tim Baldwin (Will not PM first), [Jul 2, 2021 at 2:33:12 PM]:
sure do
we are almost at soft cap in the raise and we will be stopping there
So MC at launch is actually way less than what it says on the tokenomics page
Crypto_Thai, [Jul 2, 2021 at 2:34:57 PM]:
Thanks for letting us know!
Tim Baldwin (Will not PM first), [Jul 2, 2021 at 2:35:19 PM]:
yeah no problem we want this to be a true GEM 😉
Crypto_Thai, [Jul 2, 2021 at 2:35:42 PM]:
Which measurements are implemented to bypass huge dumps from early investors?
Tim Baldwin (Will not PM first), [Jul 2, 2021 at 2:37:57 PM]:
We have an extremely conservative vesting schedule, but furthermore in the rounds we try to take as many small investments as possible. It is a lot more work for us but we have a strong belief that DeFi should be more accessible. So we decided that all of our rounds wont have a minimum. Furthemore, we are funded by someone on our team meaning they have 10 months before they can even touch one of their tokens. This is very different compared to VCs. When VCs approach us and want to get their tokens faster, we tell them to F off.
Tim Baldwin (Will not PM first), [Jul 2, 2021 at 2:39:39 PM]:
Also our tokenomics will show that only private sale participants are the only sale participants who receive tokens before listing.
Crypto_Thai, [Jul 2, 2021 at 2:39:42 PM]:
Also the multisig comes in hand with this
Tim Baldwin (Will not PM first), [Jul 2, 2021 at 2:40:20 PM]:
Sure does. We are trying to restore some stability to the market with our service, so that must start with us and our tokens haha
Crypto_Thai, [Jul 2, 2021 at 2:40:20 PM]:
So what would be the main reason for an investor to get the Token?
Tim Baldwin (Will not PM first), [Jul 2, 2021 at 2:42:15 PM]:
Unvest
The cross-chain DeFi marketplace for locked & unvested tokens
Tim Baldwin (Will not PM first), [Jul 2, 2021 at 2:42:15 PM]:
One thing before I answer that question. We also have liquid vesting using a project called Unvest https://t.me/unvest_io . Because of them any presale participant will be able to trade presale tokens before they are vested. It is very interesting and good for our token stability.
Tim Baldwin (Will not PM first), [Jul 2, 2021 at 2:42:38 PM (Jul 2, 2021 at 2:44:24 PM)]:
A main reason for investors to participate early on in PolkaParty, and to hold our respective token (POLP), is the fact that credibility and reputation that comes from our Party Score will play a heavy importance as our platform develops. As a result, users who involve themselves on our platform early on will be able to gain a more notable reputation with our PolkaParty ecosystem. Also as we move forward, NFT objectives from the early days of PolkaParty will increase the Party Score more efficiently so early users have a lot of incentive to use the platform.
Crypto_Thai, [Jul 2, 2021 at 2:44:32 PM]:
👌💪💪
At this stage. Is there any competition for Polp?
Tim Baldwin (Will not PM first), [Jul 2, 2021 at 2:48:43 PM (Jul 2, 2021 at 2:49:13 PM)]:
At this stage, there aren’t any notable competitors that come to mind, rather some historical platforms that pathed the road for DAO’s as a whole. Projects such as Aragorn and Boardroom do a great job breaking down governance for other uses. Also our implementation of multisig with a pooled and weighted governing organization is groundbreaking and never before seen. We aren’t trying to be a competitor to anyone really, we’re just trying to build a more seamless and efficient way to manage funds and people through the blockchain. We want to be another bridge in a rapidly growing and soon to be earth shaking sector.
Crypto_Thai, [Jul 2, 2021 at 2:49:41 PM]:
Quite understandable. So what is next for PolkaParty?
Tim Baldwin (Will not PM first), [Jul 2, 2021 at 2:52:29 PM (Jul 2, 2021 at 2:53:36 PM)]:
Our token launches Mid-Late July with our last round of fundraising happening next Friday. This is the last chance to buy presale tokens for the platform and participate in the liquid vesting (through Unvest) meaning users will have real value for their tokens without even having them in their wallet. Then our platform will be live in the beginning of August. We hope you all love it as much as we do. It has a been a blast building it and we are very lucky to be working with some very smart people over at our lab Blocksphere. Furthermore, some epic NFt objectives will be dropped to some lucky presale investors and those will hopefully be very valuable once the platform goes live.
Crypto_Thai, [Jul 2, 2021 at 2:53:55 PM]:
Feel free to share every link you’ve got
Looking forward for the platform launch
Tim Baldwin (Will not PM first), [Jul 2, 2021 at 2:55:55 PM]:
Website: PolkaParty.io
Gitbook/Whitepaper: https://polkaparty.gitbook.io/polkaparty/
Twitter: https://twitter.com/Polka_Party
