Recapitulation of PoolPartyInvestment PROJECT AMA event held at AMA LOVERS CLUB.
Venue: https://t.me/amaloversclub
Date: Monday, 1st November, 2021
Time: 17:00 UTC
The PoolPartyInvestment PROJECT team was represented by @Kwazimada who judiciously shared with us detailed knowledge and information about PoolPartyInvestment PROJECT.
1st Segment: INTRODUCTION
Q1: Can you please introduce yourself and your background, also introduce the team working on POOL PARTY?
ANS: Happy to do so!
Our team consists of two core members and seven community moderators all very excited for what is to come.
Regarding the core members there is myself, Kwazimada -- My role on the team is focused on managing the overall project and the business side of things such as negotiating deals/partnerships, managing marketing activities, and managing budgets. My professional background is being a business development manager for a fortune 10 company specializing in mergers & acquisitions.
Additionally, I have a background in marketing, loyalty programs, sales, and strategy development.
Peter (Also known as Kefas who is also Doxxed) is the other Core Team member, where his role is being our developer of the smart contracts ecosystem and web dapp. In regards to his background he is a Computer science graduate with experience developing in a lot of languages from C, C++, Java to Haskell, Python, Javascript/Typescript and Solidity. He is a big fan of decentralization and believes that web3 is the future of the web.
Both of us met working on a KuCoin Community Chain project called TIKU DeFi for which is where our innovative ecosystem started.
By working together we have been able to blend together nicely a strong technology background & business background to make something amazing happen.
Additionally, it is important to note that both myself and Peter have been KYCed by a group called The Defi District which details can be found on our website.
Q2: Can you introduce POOL PARTY, what critical problems does it solve that existing solutions are not solving and what's the competitive advantage?
ANS: Pool Party is different from any other token on the BSC as it doesn’t rely on transaction volume to reward its holders. As we all know there is a never ending amount of reflection tokens being created daily however they all begin to quickly see rewards get smaller or stop to provide rewards for their holders as the initial hype goes away.
To solve this issue the Pool Party ecosystem takes a portion of each transaction & puts it into pooled investments. This method ensures our ecosystem is sustainable & not solely driven by transaction volume, we created an automated system that provides rewards from yield farming at big and proven projects like PancakeSwap and ApeSwap that we are confident will continue to provide rewards to our holders as long as BSC is alive. As we continue to grow as well we will continue to expand our investment pools to include other tokens as well opening a variety of future opportunities/partnerships!
Additionally, as part of this automated system part of the interest earned by these investments are auto-compounded back into the reward pull, ensuring that the amount of tokens in our investment pools will continue to rise even if there were to be no buy/sell transactions. Therefore continuing to grow our loyal holder’s rewards over time indefinitely.
Another unique feature that the Pool Party token has is the ability to participate in our Loyalty Staking Program! To help drive & reward loyalty from our holders we created a time-based staking mechanism for our staking platform in which the staking rewards distributed takes into account how long holders have been staking their $PP tokens, not just solely on how much they hold. This is all managed through our working Dapp which is already live on our website now!
With the automated investment pool system & loyalty staking program we have developed a sustainable ecosystem that rewards our holders for their loyalty!
As time progresses too we will be adding a variety of services to help generate additional funds into the investment pools.
Q3: Going through this, I understand that Pool Party doesn't rely on Transaction volume to provide reward
But the remittance to the Pool still comes from transactions
Does low amount of transaction have any effect on the pool remittance?
Just curious
ANS: Great questions! While transaction volume plays a piece into the investment pool growing we have an automated system in place which takes a portion of the interest earned every week and compounds it back into the investment pool to ensure it continues to grow over time! At the time of this AMA we have already added $64k to the investment pools which have already begun to start auto-compounding through our automated system.
Additionally, we will be adding new ways to add funds outside transaction volume over time such as services, an NFT marketplace, and some other super secret innovative things we aren't ready to share yet at this time.
We also have a video on our website that helps explain the investment pools as well!
Q4: Can you briefly describe the top milestones you have achieved and your target milestones with timelines, also share your roadmap?
ANS: I can do so! Although some may be a repeat based on what was shared above 😉
In regards to milestones that we have already achieved I would say that our two biggest ones worth mentioning at this time is our successful launch last week & that within one week we have already added over $64k already to our investment pools which are used to generate the dividends for those participating in our loyalty staking program! The best part is with our automated ecosystem that investment pool will only continue to grow as time progresses. There is an explainer video on our website for individuals to learn more about it. 🎉🎊🎉THIS IS JUST THE START!!!!🎊🎉🎊
In regards to target milestones we have a few things we are working towards.
In the near future (Approx. 1 Month) we will be implementing a feature for those participating in our loyalty staking program to receive a random Pool Party NFT for every month they participate in the program.
Mid Term (Approx 1 - 3 Months) we will be implementing high rarity NFTs into the random monthly loyalty staking rewards pool. Additionally, we will add a feature to attach NFTs to individuals loyalty staking bags (What we call staked Pool Party Tokens in our Loyalty Staking Program). This is important because we will also be adding an NFT marketplace to our website which will allow individuals to trade their Loyalty Staking Bags with each other.
Long Term (3 Months+) we will be working towards implementing a social game that will incorporate the Pool Party tokens you have staked to your bags. We will also be looking at how to incorporate features where the amount of tokens & timed staked have some level of impact to the NFT you have staked.
And during all this we will be looking at a variety of new services we can provide as a team to add additional funds to the investment pools growing the amount of rewards individuals receive weekly!
The party is just getting started!🎉🎊🎉
Q5: Let's talk about partnership
Can you briefly describe your PARTNERSHIPS so far?
ANS: As we are a newer token we are still in discussion with a variety of teams around partnerships. Our priority last week (which is when we launched) was ensure the stability of Pool Party & our ecosystem. WIth that behind us we are now working towards further marketing & developing long term partnerships with other teams/communities!
One way we will also be looking to do partnerships is incorporating their Utility into our platform in ways that will add to the investment pools through synergies!
With that if there are any interested teams/communities here today don’t hesitate to reach out! Would love to have a discussion with you!
Q6: Can you give an overview of the Tokenomics, and Utility of $PP tokens?
ANS: Sure thing!
Pool Party is different from any other token on the BSC like Safemoon, or HODL that only rewards its holders based on transaction volume. The Pool Party ecosystem takes a portion of each transaction & puts it into pooled investments.
Investment pools are then used to pay loyalty dividends (in BNB) to its holders based on the amount of tokens they have staked and the duration of their stake, which results in rewarding the loyal holders the most!
With these pooled investments being the main value driver of Pool Party, the loyalty staking dividends will continue to grow virtually forever, regardless of the trading volume.
Pool Party brings to BSC never-before seen innovative features such as:
First time-based staking that rewards loyalty
Sustainable growing reward system independent of the trading volume
Fully automated ecosystem providing dividends, buyback & burn, and liquidity
Specifically regarding the tokenomics there is a 15% tax on buys (10% adds funds directly to the investment pools & 5% to liquidity) / 20% tax on sells (15% adds funds directly to the investment pools & 5% to liquidity)
And we have an anti-whale feature where any transaction selling more than 0.1% of the total supply will be rejected.
Additionally, our entire loyalty staking program is run through our working Dapp & http://poolparty.investments
2nd Segment: LIVE Questions
Q1: I read Pool Party has Loyalty Staking. Is it somewhere different from Normal Staking? Or there is difference between Loyalty Staking and Traditional Staking?
https://twitter.com/Manishax7/status/1455144884281561097?t=pb5IckfzbV6LIEXAyokDHA&s=19
ANS: Lets start with this question as the loyalty staking program is a key foundation to Pool Party!
The difference between Loyalty staking and normal staking is that we take into account the duration of time someone has staked when doing payouts. This helps ensure those that have been loyal are rewarded for their loyalty & incentivizes individuals to hold even as price goes up.
While one of the big benefits of Pool Party is the weekly rewards another key aspect is by incentivizing loyalty and holding the value of the token will continue to increase over time as well!
Q2: Do you have a video description of how the Pool Party ecosystem works for better understanding ?
What Exchange is Pool Party Token Trading at present. How much is significantly worthwhile to hold ?What can you tell us about the following
1. Loyalty Staking Bag
2. Investment Pools
https://twitter.com/Ibrahim42023815/status/1455222005955895297?s=20
ANS: Do you have a video description of how the Pool Party ecosystem works for better understanding ? - yes! We have a video on our website http://poolparty.investments that explains how the investment pools work. We will also be making more videos such as how to participate in our loyalty program in the future as well (It is very easy though and plan to create supporting docs as needed)
What Exchange is Pool Party Token Trading at present. How much is significantly worthwhile to hold ?What can you tell us about the following - Pool Party is currently only traded on Pancake Swap but as we grow and the investment pool continues to generate more funds we will look to see what other exchanges we may want to list on.
1. Loyalty Staking Bag - This is what we call your tokens used to participate in the loyalty staking program.
2. Investment Pools - This is the shared pool of funds used to generate interest which is used to pay participants in our loyalty staking program dividends.
Q3: I saw 55% supply of $PP is burnt already, which is a big number. So do you have any plans to burn more $PP in future?
https://twitter.com/Rakshhit/status/1455144331321364482?t=OqpUhCSt73EuLN4oI962xA&s=19
ANS: Yes, buyback & burn of the $PP token is one of the ecosystem's features. The burn occurs weekly when the dividends are being paid. Currently, 10% of yield is used for the buyback and burn. This way, we ensure that the supply of the token will continue to decrease and the price will increase due to the buyback.
Q4: Why the portfolio have only Two Coins Banana or Cake? Do you plan to bring more Coins/Tokens in future?
https://twitter.com/Rakesh200x0/status/1455144799548284932?t=EYEFNcpT7q9IiAc6dnTKwA&s=19
ANS: When starting we wanted to have "Safer" tokens as what we used for our investment pools. In the near future we will be implementing a DAO for us to use and drive as a community what investment pools we want to add. With that yes, we will be adding more pools with the goal of adding higher APY tokens.
We will also be able to leverage the addition of tokens to drive partnerships as well!
Q5: Funny thou, cz_ binance said focus in long term, my question is has #poolpartyinvest design their model in other to stand in this fields of many projects, looking forward you see alot challenges facing nft and the DEFi world what's your take on this???
https://twitter.com/MillianoMAX1/status/1454994366737666052?t=yOrcPevPbsOqJCisyNerGA&s=19
ANS: I know the exact quote you are talking about and glad you did so. Pool Party is building for the long term with a long term vision. Without a doubt there will be a challenge within the NFT & Defi world but what we aim to build is something unique with every addition we do and will continue to take this approach as we go. We are in no rush to make decisions and plan to run this project like a business rather than a fun side project which is where we see a lot of other tokens go wrong.
Q6: The loyalty is something that is really hard to obtain from users, so can you tell us what are the incentives that you offer to your community members to become loyal with you?
https://mobile.twitter.com/TonyMon253/status/1455215251822190596
ANS: We aim to foster loyalty among our holders by using time-based staking mechanism which rewards holders based on duration of they stake. The longer the holder stakes, the bigger their share of the dividends is in comparison with the new holders entering the Loyalty Staking ecosystem. Therefore, the loyal holders get the biggest rewards.
Q7: This is such an interesting project, it is also quite new and it is progressing rapidly. What has been you biggest obstacle and what problems does poolparty help to solve exactly which other fund pooling platforms haven't?
https://twitter.com/omoge_oko/status/1455221804168065031?t=iJEW7XrDNRZ11csbFnMWZg&s=19
ANS: I will make this one the last one I answer as it touches on a very interesting piece which is what has been our biggest obstacle.
With that I would that it is getting potential holders to see the long term vision and understand that this project is for those that are looking for financial freedom not a chance to gamble. We are building this project to be something with longevity & innovation which takes time. Within one week we have already seen our investment pool reach $64k which will only continue to grow and reward those who are loyal now in time. If you look at our graph you will see there was a recent drop off which was due to individuals thinking they would get millions of dollars right away from the loyalty staking program however didn't take into account 2 things:
1. That we hadn't even been launched for a week at that time so the investment pool was still half the size it is now at that time.
2. Although their rewards may have been smaller than others the overall price of the token was going up.
With those two things taken into consideration it showed right there the power of this program & we will see that even more this week as the investment pool has grow extremely fast!
So with that I would say our biggest challenge is getting over the current though process a lot of new individuals coming into the DEFI space have of trying to get rich quick. This is a long term project that WILL reward those that are loyal.:
Follow Us On Our Various Social Media Communities For More Update;
Website:
https://www.poolparty.investments/
You can find a video on there how the investment pools system works to pay dividends rather than transaction volume!
Documents Section: (Our "White Paper")
https://docs.poolparty.investments/
Website link to where people can participate in our loyalty staking program:
https://www.poolparty.investments/loyalty-staking
Website link to see the value of our investment pools and their growth using charts: More pools to be added over time & will have a DAO implemented to select them with the community.
https://www.poolparty.investments/investment-pools
NFT section of website: WIll be adding soon random NFTs people will get every month of staking and will eventually allow them to attach to their loyalty staking bags & put on a marketplace! (With much more down the road)
https://www.poolparty.investments/nfts
https://t.me/poolpartyinvestmentsgroup
Twitter:
https://twitter.com/PoolPartyInvest
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