SolanaPrime is a primary market ecosystem for potential GameFi, DeFi, and Metaverse dApps to launch on Solana.
The General Manager of Altcoin Buzz, Anindya (Ani) Baidya, anchored the SolanaPrime AMA session on our Telegram channel with Ramiro Gamen, the co-founder of SolanaPrime.
Below is a recap of the AMA session with Ramiro Gamen to understand what they are up to. Besides, the AMA is in three segments: introduction, deep dive, and community questions and answers.
Segment 1: Introduction to SolanaPrime
Q – To start with, tell us about your company. How was the concept of SolanaPrime created?
We have been in the Launchpad space for a long time, and we saw how Solana was expanding with its new blockchain tech. So we decided to explore and jump onto the Solana ecosystem.
We noticed a lack of proper primary market infrastructure and new ideas in the Launchpad space here, so the planets aligned for the creation of SolanaPrime.
Some big players are launching high potential projects, but there is so much development going on that we have the opportunity to provide a gateway for new GameFi and DeFi projects in the ever-growing Solana ecosystem.
Q – Tell us a bit about your team. Where is the team based out of?
At the moment, we have over 20 team members working on all areas from smart contract development to growth marketing.
We have the fortune to be able to work in a time with individuals from South America, Africa, Europe, and Asia. We truly believe in a decentralized world, and we are a decentralized company first. Check us out here.
Segment 2: Deep Dive
More Information About SolanaPrime
Q – So what is SolanaPrime’s value proposition?
We believe blockchain can revolutionize different industry verticals, and the financial sector is a major one.
Secondary markets have already been disrupted by CEXes and DEXes, but Launchpads and other similar services are new to the space. We are all looking to disrupt primary markets, which is not something that was ever before possible as major financial institutions had complete control over what companies went public.
Our mission and vision are to disrupt primary markets through the Solana ecosystem to achieve the most capital-efficient venture funding and primary market gateway in the market. We want to nurture and launch the projects with the highest potential to grow and disrupt their verticals.
Q – You are not a simple Launchpad but have lots of innovation within the platform. What are your different offerings?
I can focus on our utility tokenomics. PRIME token, our main token, will give users access to the Tier system in order to participate in IDOs. Straightforward utility through staking, however, our reward mechanism (staking APY) is where things get interesting.
We will introduce what we call Index Pools. Every IDO that launches pays a fee in their tokens to cover the services SolanaPrime provides. These tokens are sent to a smart contract, a pool, that will continue growing with every IDO we launch.
We will issue a fixed supply of tokens, SPIX (SolanaPrimeIndeX tokens), that will represent a portion of this pool. These SPIX will be rewarded and distributed to PRIME stakers on a pro rata basis with a decreasing APY. Be sure to stake early!!!
Once this max supply is met, IDOs will continue, so we expect the price of SPIX to continue rising as the pool increases in value. SPIX tokens will also be tradable in secondary markets in the near future.
We will have Insurance Pools as well for IDOs. Another very interesting topic. Moreover, we have many products in the pipeline we don’t want to reveal soon to help investors and projects make better decisions in primary markets.
Q – So PRIME stakers will get into IDOs and also get SPIX tokens. What happens when the SPIX supply is all distributed (will there be SPIX staking too)?
SPIX will be tradable on secondary markets, so stakers that get them as rewards can sell them. SPIX will be an index token, so the more IDOs and the better the price performance, the SPIX price will increase. Buyers will want the token to have exposure to the pool of SolanaPrime IDOs.
Q – How close are you to launch? How can the community get hold of $PRIME?
We will host our own IDO on SolanaPrime.com Launchpad.
The MVP will be the IDO, and we are VERY close to launch. Once our Certik audit is finalized and our Tech team gives the green light, we announce the date.
We want to deliver a secure platform; we will not promise a date that compromises user security. Stay tuned.
Q – Let’s come back to the topic of offerings, Insurance Pools. Can you tell us more about it?
We believe that a Launchpad must always conduct very strict Due Diligence on all projects that are launched to secondary markets. This is because Launchpads and primary market dApps are the gateway between private funding and the secondary market. Our reputation is on the line, and we must be consistent, and strict Due Diligence is the only way that only the projects with the highest potential reach secondary markets through primary market gateways on every protocol.
Once the PRIME token price stabilizes and we have a number of IDOs launched, we’ll set up the Insurance Pools on the platform. We need certain milestones met before this type of product can be turned on.
Q – How do you select an IDO? Will you be focused on GameFi, INOs, Baselayer Blockchains, or will you cover everything that is good and meets your selection criteria?
We are Solana first, and we will launch projects on Solana on different verticals. GameFi, DeFi, Infrastructure, Metaverse Projects that pass our strict Due Diligence, that have the green light from the community, we will launch.
We want the community to refer projects to us, to voice their opinion of them. In the end, it’s a Launchpad for our community of investors. What we do is provide them access to the IDO and as much information as we can for each investor to decide.
Q – “Greenlight from community” – how do you plan to include the community for project selection? Is there a forum?
We will handle everything through Discord. DAO features will be released periodically.
Once Solana has tools like Snapshot and Commonwealth, we’ll start deploying more community voting to tell us what they like and don’t like about Solana. All of us that operate the different parts of the platform will act accordingly.
Q – How do you integrate NFTs in your ecosystem?
First, we want to explore an NFT marketplace for INOs in the near future. But this is a tough and ambitious project. What we propose are Tiers to be NFTized. We have more on this in our Deck.
Segment 3: Community Questions and Answers
For this segment, the five best questions shared 500 USDT. Here are some of the questions:
Q. Twitter – I read that SolanaPrime will focus on “developing and launching” a decentralized casual gaming world, making it one of the most speculated products on the market this year. So, does the developer have any plans to delve into the gamified meta-cross area?
We are a primary market, so we will help nurture and fundraise projects in the GameFi and Metaverse space within Solana. We are not a game ourselves, but we will help incubate and launch to secondary markets the most exciting GameFi projects on Solana in 2022.
Q. Twitter – Solana-backed projects created for DeFi, GameFi, and Metaverse that passed the test have a gateway for funding. Please explain the requirements for such a (promising project) to be selected and sponsored?
Requirements are quite strict. We have designed a 70 question form with seven categories (Team, Tech, Product, Legal, Finance, Tokenomics, and Marketing).
We input the answers into our IDO Scorecard model which scores projects from 1-5 on every category. Based on the answers and the results, we will ask projects to provide more info, vet them, and then approve them or not to launch.
We believe our model will allow only the highest potential projects to be funded and launched to secondary markets, at least through us.
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