1st launchpad & L2 DEX built on Arbitrum and the 1st-ever launchpad where all token holder gets guaranteed allocation.
Frumps | OIG: Greetings OIG Community! Welcome back to our AMA Series of today! We have with us Plunge Pad, the 1st launchpad & L2 DEX built on Arbitrum where all token holder gets guaranteed allocation. We have with us, sam (Co- Founder ) here today!
Thank you for joining us today Sam, can you please introduce yourself to our community?
Sam — PlungePad: Good morning everyone, super excited to be here, thanks for having me
Frumps | OIG: It is our pleasure, our community are very excited for this
Sam — PlungePad: As an introduction, I am Sam, the co-founder of @plungepad , I have worked in the cryptocurrency sector for five years and have invested in and helped raise funds for several tier 1 projects. Previously, I worked in investment banking for ten years and am very well connected in the real world financial industry. I left the centralised financial world in 2018 to play my part in building a decentralised financial world
Frumps | OIG: This is a very relevant and interesting background that will be highly useful for your project!
So let's jump into the project. What exactly is Plunge Pad? What makes you different?
Sam — PlungePad: Excellent question, I love to explain plungepad to people.
Plunge Pad is the first and the fairest platform for launching projects on Arbitrum. We are not only are we the first launchpad for Arbitrum, but we are also the first-ever fair launchpad where each token holder can participate in the token sale and receive a guaranteed allocation of tokens.
Unlike other launchpads, there is no minimum requirement for staking, so you can stake even a single token and receive a proportionate guaranteed allocation in the IDO.
Our focus is to cater for the small investors that do not have enough funds to lock in expensive tiers to get a guaranteed allocation.
Hope that answer your question?
Frumps | OIG: Wow, this sounds amazing, we also believe in helping the small investors, so we understand why you have focused on this. Having no minimum requirement for staking is a very interesting concept.
What made you focus on launching on Arbitrum and Binance chain?
Sam — PlungePad: When we came across Arbitrum as a L2 Eth solution, experienced its cheap and extremely fast transaction and when assessed it’s backers being the top-notch investors and influential people, we concluded that it has an extremely bright future and decided to build on it.
Now why BSC? that's again a good question.
Arbitrum is pretty new and unknown to people while BSC has a lot of users and particularly small investors, to align with our objective of catering for small investors we concluded that BSC will a perfect platform, this way we could help small investors get exposure to Arbitrum.
Frumps | OIG: We agree, Arbitrum has a huge future ahead and solves a big problem! That makes perfect sense why you also included BSC, great answer
Can you explain how your tiers and staking Mechanism work?
Sam — PlungePad: Sure
So we have 3 tiers of staking
Tier 1- Leopard, Tier 2 -Cougar, and Tier 3 — Jaguar
Tiers start from as low as 1 token 🙂
And every staker gets guaranteed proportionate allocation
I think it can be easily explained with the help of this pic.
we have 40% of the total supply for staking, which will be released over 5 years, this can be changed based on the DAO proposal.
Vested IDO tokens are automatically staked.
Hope that answers the question, happy to explain further if needed
Frumps | OIG: There are many amazing things to digest there! Only 1 token and you are in! Vested IDO tokens are automatically staked! Amazing, this will excite a lot of our community
Sam — PlungePad: Thanks, yeah it took us like 4 months to brainstorm on how we want to structure our launchpad to be different than all others in the industry, happy to see that people are appreciating this.
Frumps | OIG: It's very impressive and exciting!
Can you tell us about the Tokenomics of $PLG
Sam — PlungePad: Sure
Is there a particular question about tokenomics or you want an overall summary?
Frumps | OIG: an overall summary would be great
Sam — PlungePad: without going into too much details, a summary will be as this
- C. 40% for staking (released over 5 years)
- C. 20% in Private and IDO sale (private vested over 6 months, IDO over 3 months)
- C. 10% marketing (locked)
- C. 15% (vested over 24 months)
- C. 5% Advisors and partners (vested over 18 months)
- C. 10% Reserve for foundation (locked)
Frumps | OIG: Clearly very well thought out Tokenomics!
When can we get our hands on $PLG?
Sam — PlungePad: Thanks,
Let me explain a bit
So our whitelisting application is still open, about 9 hours left, anyone who wants to participate in the IDO should submit this form, https://zfrmz.eu/sToP9PrDfaBwtKchiWkQ
The form will be closed at 20:00 GMT today.
We will announce the whitelisted wallets within a few hours.
These wallets will be able to participate in the IDO on the 30th Nov at 13:00 GMT.
The tokens will then be released within a week of the IDO, and will be listed on Uniswap (Arbitrum chain) and PancakeSwap (Binance Chain)
The IDO will be conducted on our very own website www.plungepad.io you can either participate via Arbichain or binance chain, both options are available.
Frumps | OIG: Amazing, I fully suggest to the community to go and sign up if they have not!
Frumps | OIG: And even if they do not make the whitelist then its only a short time until people can go and buy $PLG from Uniswap and PancakeSwap!
Sam — PlungePad: exactly, we will list it as soon as we are done with the admin part of the IDO.
Frumps | OIG: very exciting
What is coming up in the short term in your roadmap that we should look out for? Do you have any projects ready to launch?
Sam — PlungePad: Many things are planned, and we are as exciting to brag about it as you are excited to know about it.
Frumps | OIG: hahaha
Sam — PlungePad: We aim to be the native launchpad for Arbitrum ecosystem
And we are trying to use all our resources and links to get there.
The plans are as such;
1) Conduct the IDO
2) List on DEX — Uniswap and pancakeswap and then on a CEX
3) Deliver on the remaining roadmap, (To build a native bridge for Arbitrum, first to BSC and then to other chains) and then most importantly build a native DEX on arbitrum , that will use $PLG as a native token- super excited about this one.
Frumps | OIG: These are all big things! Especially number 3! we can not wait to see these come to fruition!
Well @beardedpunk , your answers have been brilliant and you have sold Plunge Pad to us! Let's move over to the community Twitter questions and see what the people want to know
Community Twitter Questions:
Question 1)
Sam — PlungePad: Excellent question.
Totally agreed, there are so many scams out there.
What we aim to do is will be structured as follows;
1) Conduct full due diligence
- Team check — if a decentralised and anonymous team, it's still ok but we will get references of the team from other crypto space individuals
- Review of the backers/Partners/Investors
- Scan the contract creation wallets
- And above all we are building a dao and the dao will vote on each and every project, this will be a trully decentralised world of launching IDOs.
Frumps | OIG: This is great news and again extremely well thought out! Excellent answer!
Question 2)
Sam — PlungePad: Like I mentioned earlier, Arbitrum is pretty new and unknown to people, but we have no doubt it will be big because of its cheap and fast transactions and more importantly its backers and High-profile investors like Mark Cuban, Polychain Capital, Ribbit Capital, Redpoint Ventures, Pantera Capital, and Alameda Research.
How we are playing a part in it is to have a launchpad on both Arbitrum and BSC to give BSC users exposure to Arbitrum, it will help in the growth and adoption of Arbitrum.
Frumps | OIG: Its true, there are some big names behind Arbitrum! Very clever to target BSC as well which will bring many eyes to Arbitrum!
Question 3)
Sam — PlungePad:Haha good question
For this we need to understand the meaning of Plunge
“Plunge” means like dive quickly and energetically, we jumped into arbitrum ecosystem as soon as we heard about it and understood it, And that is why we are the first launchpad on arbitrum, and also targetting to be a integral part of the arbitrum ecosystem though building launchpad, bridges and DEX
Frumps | OIG: The name is a perfect fit! Great choice
Sam — PlungePad: Thanks 🙂
Frumps | OIG: Well @beardedpunk, this has been a great AMA that has really explained your brilliant project with great clarity, we are very excited!
Are there any final words you would like to leave with our community?
Sam — PlungePad: Thanks a lot for the opportunity to explain plungepad to your community
To conclude, we are seeking strong support from the arbitrum ecosystem to enable us to become an integral part of it.
Our plans are very ambitious. Please assist us in building a truly decentralized financial system for the Arbitrum network.
You may participate in the IDO by filling out the form, following our Twitter account https://twitter.com/Plungepad , and joining our Telegram channel @plungepad
Frumps | OIG: Thanks again @beardedpunk . Well OIG thank you so much for coming out to support, as always.
Go and Join Plunge Pad socials now and get on that whitelist and support them.
Sam — PlungePad: Thanks again, was a real pleasure. Speak soon, if you have any questions, don't hesitate to DM me.
Plunge Pad:
Website: https://www.plungepad.io/
Twitter: https://twitter.com/Plungepad
Telegram: https://www.plungepad.io/
