Interview: What Makes Worthpad Better Than Other DeFi Projects Out There?
11 November 2021 - 5:36AM
NEWSBTC
Worthpad is a project that is making DeFi accessible to all,
investors and developers alike. We reached out to the team and
asked a few questions to get to know them better. Here’s how it
went. Q: Let us start by introducing Worthpad to our readers. Can
you please give us a short overview of the platform? A: Worthpad is
an innovative, decentralized, multi-chain DeFi platform that makes
investing in DeFi and crypto projects easy and accessible for the
masses. Worthpad empowers high growth potential crypto projects
with the ability to raise liquidity in a fair manner while also
developing dedicated communities behind them. Worthpad brings the
capabilities of traditional venture capital to $WORTH holders
through its innovative use of the best technologies available in
the DeFi space. Worthpad offers a professional and hassle-free
fundraising environment for innovative projects and a safe
investment ecosystem with the unlimited earning potential to $WORTH
investors. We want to enable retail investors to build wealth. We
have been in the Venture Capital space for a long time. We’ve seen
it time and again that venture capital investment opportunities
have traditionally only been available to the wealthy and
well-connected. A layman would never get an opportunity to invest
in the seed round of a company like Facebook or Amazon if they were
to launch today. Similarly, only HNIs and well-connected people
receive allocations for private/presales of brilliant crypto
projects. Average retail investors are often excluded from
participating in the early-stage funding of high-growth potential
crypto startups, therefore missing out on the potentially unlimited
growth opportunities. Worthpad is an all-in-one platform that
connects retail investors and innovators. Startups gain access to
low-cost fundraising and a community eager to back their projects.
For its community of investors, Worthpad offers early access to
high-growth investment opportunities that they likely wouldn’t have
had access to on their own. Q: Tell us more about the different
components of the Worthpad ecosystem A: The Worthpad ecosystem is
made up of six building blocks – $WORTH Token, Worth IDO Launchpad,
Worth DVC Fund, Worth Smart Contract Foundry, Worth DEX, and Worth
Insurance Treasury. 1. $WORTH is a reflection utility token that
will act as the fuel for powering all the transactions in the
Worthpad ecosystem. $WORTH automates liquidity acquisition for the
Liquidity Pool and the Worth DVC Fund. This is funded by a 10% tax
taken on each and every transaction. $WORTH will act as an infinite
wealth generation machine for $WORTH holders. 2. Worth IDO
Launchpad is a decentralized accelerator and incubation platform
that connects early-stage innovators and projects with $WORTH
investors. $WORTH holders will get early access and guaranteed
allocation to seed rounds, presales and private sales of top-tier
crypto projects incubated and accelerated on the Worth IDO
Launchpad. Worth IDO Launchpad will distribute the tokens received
from IDO projects that are incubated and accelerated on the
Worthpad IDO Launchpad to investors who stake $WORTH. Worth IDO
Launchpad will also collaborate with other launchpad platforms and
invest funds in disruptive projects being listed on those
platforms. These tokens will also be distributed to investors who
stake $WORTH tokens. 3. Worth DVC Fund provides an opportunity to
everyday people to safely grow their own capital. It brings the
capabilities of traditional venture capital to $WORTH holders.
Worth DVC Fund will use the pooled reflection fee to invest in IDO
projects selected for incubation and acceleration on the Worthpad
platform. Worth DVC Fund will make all the investments through the
Worth IDO Launchpad. 4. Worth Smart Contract Foundry is the heart
of the Worthpad ecosystem. It will enable secure, audited, quick
and easy deployment of smart contracts configured from a drag and
drop interface. The code used for developing foundry smart
contracts will be open source, battle-tested and audited to ensure
no exploits can be used by malicious actors to steal the investor
funds. 5. Worth DEX is a next-generation decentralized exchange
being built on the Ethereum and Binance blockchains. It is designed
to deliver all the advantages of a distributed platform, plus a
user-friendly interface and liquidity that’s comparable to
centralized exchanges. Worth DEX is also building a DEX aggregator
to give traders the best-adjusted price, a simple way to buy and
sell assets at the best price possible across all DEX liquidity
sources. 6. Worth Insurance Treasury is the most critical risk
management feature of the entire Worthpad ecosystem. Each project
that uses Worth IDO Launchpad to raise capital is required to buy
$WORTH and lock it away into the Worth Insurance Treasury until the
project is complete. Consider it like a safety deposit that the
projects incubated and accelerated on the Worth IDO Launchpad will
get off the ground. Once the project is complete, the funds are
released, and the project team is reimbursed. It acts as a
safeguard to protect investors against the risk of a project
failing. Q: Can you give us some insight into the team behind
Worthpad? A: Worthpad’s management team comprises professionals
from finance and technology industries with a cumulative experience
of over 80 years. Our team members have worked for some of the
biggest and most innovative technology companies, investment funds
and hedge funds in the world. The Worthpad team members have chosen
to keep their identities anonymous. Q: How is the Worthpad
launchpad different from other DeFi launchpads in the market? A:
Worth IDO Launchpad is unlike any other launchpad in the market.
Worthpad gives investors the opportunity of a lifetime. There is no
tiers/VIP access that favors the people with tons of money.
Investors will be able to passively earn tokens of extraordinary
projects incubated and accelerated on the Worth IDO Launchpad till
they keep staking $WORTH tokens. This is a lifelong passive income
stream without making any further investment. This is a truly
revolutionary concept. Investors need not keep buying tokens of
every project. They can do that if they choose. But if they just
stake $WORTH tokens, they will automatically get tokens of all the
projects that are incubated and accelerated by the Worth IDO
Launchpad till they keep staking $WORTH tokens. They can also
choose to become active investors by buying tokens of projects that
they like on the Worth IDO Launchpad. Active investors who stake
$WORTH tokens will get early access and guaranteed allocation to
seed rounds, presales and private sales of high growth potential
projects incubated and accelerated on the Worth IDO Launchpad. They
will get these tokens at a discounted price. Whereas investors who
don’t stake $WORTH tokens will get tokens at a regular price. We
are building many innovative features like Worth DEX, Worth Smart
Contract Foundry and Worth Insurance Treasury that set us apart
from our competitors. Q: How does the Worth DVC fund work? How can
one seek investment to become an investor in it A: Worth DVC Fund
is a retail investor’s personal VC Fund. It will do all the heavy
lifting for retail investors. Investors will enjoy the benefits of
a professionally run VC fund by passively investing in $WORTH
tokens. An investor can become a beneficiary of the Worth DVC Fund
by buying and staking $WORTH tokens. Worth DVC Fund gets 50% of the
tax fee that is applied on each $WORTH transaction. Worth DVC Fund
invests these funds in exceptional crypto projects identified by
Worth Incubator and Worth Accelerator. The project tokens that
Worth DVC Fund receives in lieu of the investment capital are
distributed to investors who stake $WORTH tokens. Other DeFi
Launchpads have a tier system for different categories of users
that is based only on the basis of the size of funds of an
investor. We are trying to build a fair system that rewards
long-term investors. Our algorithm calculates the investor’s stake
on the basis of the product of staking time and staking volume of
$WORTH tokens. The time for which $WORTH tokens have been staked
has a higher weight for calculating the stake. Investors do not
have to stake $WORTH tokens for individual projects. Q: What are
the minimum requirements to participate in the incubation and
accelerator programs? A: We will be identifying the best
opportunities and outstanding projects and incubate/accelerate
them. Our goal is to fund crypto companies that are working on the
future of everything from finance and insurance to healthcare and
transportation. Investors will get investment exposure to the best
crypto companies through the Worth IDO Launchpad. The Worth
Incubator is specifically tailored to meet the needs of innovative
projects and ideas that are currently in the conceptual phase. The
Worthpad team will work closely with Incubator projects to provide
expertise and advice on a variety of things including marketing,
tokenomics, audits, and more. The Worth Incubator team’s end goal
is to assist in the creation of a minimal viable product (MVP) that
can be used to test the market and then move onto the next phase.
The Worth Incubator provides a considerable amount of support for
new startups, as well as provides an opportunity to build a
community around the project. Once the MVP is finalized, the
project can move onto the next stage with confidence and solid
backing. The Worth Accelerator is designed for the accelerated
growth of exceptional crypto startups. In this program, we fund
startups that have a working MVP and are looking to grow and scale
with additional capital. Worthpad continues to offer support
through mentors and advisors. These mentors will ensure strategies
for accelerating customer acquisition, product development, and
logistics, are well thought out and the startup is set up for
success. Q: Your website states something about Worth Insurance
Treasury. Please let us know how it works. A: Retails investors’
participation in individual IDOs is a very high-risk endeavour.
Retail investors have very limited knowledge of technology and
investment risk management. They have no framework to hold project
owners accountable for rug-pulls, scams or negligence after
fundraise. We have come up with Worth Insurance Treasury to solve
these problems faced by retail investors. Each project that
launches through our platform will contribute to Worth Insurance
Treasury, providing investors in our community a sense of financial
protection against potential project failure. Each project that
uses Worth IDO Launchpad to raise capital will have to buy and lock
$WORTH in the Insurance Treasury. Once all milestones defined by
project team are met, funds will be unlocked from the treasury and
reimbursed to the project team. $WORTH tokens held in Worth
Insurance Treasury will continue to accrue IDO tokens and this will
act as the second layer of protection for $WORTH investors. Worth
Insurance Treasury intends to spin-off a multi-chain DeFi insurance
aggregator with the main objective of simplifying the sale/purchase
of DeFi insurance to investors. We will partner with decentralized
exchanges (DEXs), wallet providers, yield farms, and other
DeFi-centric investment pools to streamline the comparison and
purchase of the most suitable DeFi insurance plans as per the
investor’s needs. Q: The Smart Contracts Foundry seems interesting.
What are the different blockchain protocols that are currently
supported on Worth? Also, briefly explain the security aspects of
the smart contracts generated using this method. A: Worth Smart
Contract Foundry is an innovative solution for two very huge
problems faced by everyone in the DeFi world: 1. Vulnerability of
Smart Contracts 2. Scams and Liquidity Drain Worth Smart Contract
Foundry is the heart of the Worthpad ecosystem. It will enable
secure, audited, quick and easy deployment of token launch smart
contracts configured from a drag and drop interface. Worth Smart
Contract Foundry will create a collection of out-of-the-box smart
contracts for non-technical founders to choose over more
traditional and code-oriented methods of token launching. Worth
Smart Contract Foundry has a drag and drop interface that will
allow anyone to launch an idea and build a community around the
project without having to worry about the technical aspects of the
smart contract configuration. Users will be able to select and
customize their token launch through a drag and drop interface —
including initial offering, vault, and farm options. The code used
for developing foundry smart contracts will be open source,
battle-tested and audited to ensure no exploits can be used by
malicious actors to steal the investor funds. The projects created
on the Worthpad platform will be safe from rug pulls and scams.
Funds raised by IDOs will be locked in liquidity pools through
smart contracts and project teams will not be able to drain
liquidity from the liquidity pools. Worth SCF smart contracts will
be designed to safeguard LPs from popular exploits such as flash
loan attacks and oracle price manipulation attacks. We intend to
support Binance Smart Chain, Ethereum, Polkadot, Cardano, Polygon,
Solana, Tron, Near, Avalanche and Kusama blockchain networks by Q3
2023. We will keep adding support for more blockchain networks. Q:
Tell us more about $WORTH tokens and about the “Infinite Wealth
Generation” potential mentioned on the project webpage. A: $WORTH
is a reflection token. There’s a 5% tax on each transaction. 50% of
the tax goes to the Liquidity Pool and 50% goes to the Worth DVC
Fund. Each transaction makes the $WORTH token more valuable. Each
transaction adds the tax to the liquidity pool of the token, thus
increasing the overall liquidity. As $WORTH LP increases, the price
stability mirrors this function with the benefit of a solid price
floor and cushion for holders. This is different from the burn
function of other reflection tokens which is only beneficial in the
short term due to reduction of the total token supply. Worth DVC
Fund is the lead investor that invests capital in the projects
identified by Worth IDO Launchpad for incubation and acceleration.
Worth DVC Fund gets project tokens in lieu of investment capital.
These project tokens are distributed to investors who stake $WORTH
tokens after deducting the performance fee of Worth DVC Fund.
Please take a minute to reflect on the last statement. Investors
staking $WORTH tokens get tokens of all the projects being
incubated on the Worth IDO Launchpad. That’s passive income for
life by investing once in $WORTH tokens. Investors will keep
getting tokens till they keep staking $WORTH tokens in a proportion
to their stake. Q: Where does the project stand at present? what
are the future developments we can expect? A: There’s a lot going
on at Worthpad. We have built an awesome community around the
project. Worth IDO Launchpad MVP has been deployed in a test
environment and rigorous testing is going on at the moment. Our dev
team is working on the development of the Worth Smart Contract
Foundry. We have also shared a detailed roadmap on the Worthpad
website. https://worthpad.io/#Roadmap Q: Are you exploring or
planning to forge partnerships with other projects or entities? If
yes, what role do they play in the ecosystem and how many partners
have come on board so far? A: We are not looking for money at the
moment. Our presale whitelist is oversubscribed by over 5 times. We
want to build an open community that respects and celebrates good
work being done in the crypto industry. We don’t want to build an
isolated island where we are competing with other communities. We
want to partner with the ecosystem players. We want to build a
bridge that connects different projects’ communities and helps
their community members build wealth. We are in talks with multiple
IDO launchpads to build a launchpad alliance. We are also in talks
with multiple Blockchain teams to support them for cross-chain
swaps and multichain IDO capabilities in the Worthpad platform. We
are looking for strategic partners. We want to partner with strong
communities and projects that can help us amplify and spread our
message. Q: Anything else you would like to add? We are putting our
heart and soul into building the Worthpad platform. We are in talks
with multiple IDO launchpads to build a launchpad alliance. We are
also in talks with multiple Blockchain teams to support them for
cross-chain swaps and multi-chain IDO capabilities in the Worthpad
platform. This platform is meant for retail investors to build
wealth in an equitable and fair manner. We are looking for
community members who are passionate about building wealth and
align with our vision to build an ecosystem that provides resources
including investment capital to the most innovative crypto projects
and help retail investors invest in such projects. This is an
opportunity of a lifetime. Join us and help us build the Worthpad
platform.
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