This is a text version of our AMA in a chat with Catapult (ex A2DAO) – a project incubator.
After the rebranding on the launchpad, the conditions for conducting sales have changed, now they will be held in the Stakedrop format. We decided to find out the most important.
Here are the official resources of the project:
Website | Twitter | telegram | Medium
AMA with the Catapult project
Incrypted: Let’s start with a few words about your project. What is the Catapult incubator and what problems does it solve?
Catapult : Catapult is not positioned as an incubator. So far, this is a platform for drops that solves a number of issues for projects in terms of marketing and attracting users, brand awareness. And users receive project tokens for free.
Incrypted : What do you think about Stakedrop and how, in general, will it improve the conduct of events – sales, how will your system deal with multi-accounts and bots, which would increase the chances of ordinary users who want to participate in stakedrop?
Catapult:
Stakedrop is not sales, project tokens, I repeat, stakers receive tokens absolutely free. Classical IDOs are not relevant in the current market situation in our opinion.
Regarding the fight against bots, a KYC procedure has been introduced and as soon as one stake pool closes quickly, we will introduce a restriction for the first 5-6 hours in 1000-205 ATD, to allow everyone to enter. Regular users have no problem participating in the stakedrop.
For subsequent projects, we will introduce limits on the number of tokens. I think it will happen in early March.
Incrypted:How is Stakedrop different from lunchpads with guaranteed allocation? What are the rewards for current projects?
Catapult: The most important difference is that you get the allocation for free immediately after the end of ATD staking and the absence of any kind of lotteries.
Now the rewards are high, since the pools are not completely full:
Amara – 0.137 $ allocation for 1 staked ATD
Streeth — 0.114$ for 1 ATD
YouMinter – 0.205$ for 1 ATD.
Pools, by the way, will still be open 25 days.
Pools are running out 28 February. Two projects listed on March 1st, and one has 3.
Total stake 14 days – for all specified projects.
Incrypted: What is the minimum amount of ATD required to participate in sales? Are there other ways to get allocations besides staking?
Catapult:
A little more about the question above. We had a trial event – stake to whitelist. It was necessary to stake 22 ATD for a day and get a slot in the whitelist for mint NFT . Our user minted the legendary NFT and sold it for 14 SOL at the price minta 0.5 SOL. Speaking of rewards and drops.
There is no minimum limit, but if you stake 1 token, the brand will be more expensive. Regarding other options for obtaining allocations – as soon as market conditions are suitable and there is a worthy project, we will return to the paid allocations scheme. In general, we do not see a problem in a flexible approach, we can return to the classical IDO at any time, the technical component is ready. But the priority for 2-3 months is stake drops, WL and free NFT drops
Incrypted: Tell us about your strategic partnership with Hacken, what is the benefit of this cooperation for both parties? How will they “launch the catapult”?
Catapult:
They audit our contracts and contracts of projects where the team and the community invest. We can also provide projects with an audit out of turn (which is very important) and a partner discount.
Incrypted: Where did the Catapult project name come from? What does it mean for you and why did you choose this name for rebranding? Who is responsible for choosing which Stakedrop projects to invest in? Can ATD token holders vote to select projects according to the number of tokens?
Catapult: A catapult is a mechanism for launching projectiles in direction. I hope that our platform will also help projects to successfully launch and develop. We discuss projects with the team and decide how interesting it can be for the community.
There is no voting option, but you can suggest interesting projects at an early stage and if they are good, we will definitely communicate with them. Perhaps when there will be a large number of applications and many good projects, then we will introduce a voting procedure.
Incrypted: What is the difference between your Stakedrop model with ATD token and Impossible Finance model with IDIA token?
Catapult: The fact that we do not need to pay for allocations (almost all IFs are paid) and most importantly, we have a pool limit, which allows the user to calculate the approximate yield. Pool restrictions, on the one hand, can lead to FCFS, on the other hand, they do not allow to throw in 5 million tokens, thereby making an allocation of small sizes.
Incrypted: Why was KYC added to the Stakedrop process? Coinlist has shown in practice that buying passports is not a big barrier to multi-accounts.
Catapult:
There is one banal reason: this is a requirement of many projects. We had this problem last year. Some do not want to launch on sites without KYC in order to avoid possible legal problems in the future. Therefore, we were left without IDO in December.
The second reason is to make life difficult for bot growers and multi-accounters.
Incrypted: Are there any plans to introduce additional ATD token utilities? How do you plan to compensate for the losses from the depreciation of the ATD token, which occurs with most launchpad tokens after sales? Among the community, disappointment from launchpads is common because now most projects come out without the usual profit, or even at a loss a few hours after the sale, how do you plan to solve this?
Catapult: No new use case is planned yet. In the future, we even expect the following problem: there may not be enough tokens on the market for all stakedrop pools. We are actively working in this direction and projects have interest in stakedrops. If there are more than projects per month, then there will be a shortage of tokens on the market.
One of the features of the Catapult is that it is very difficult to remain without profit here, since the participants receive the allocation for free. In fact, it doesn’t matter if the project is x1 or x3. Therefore, we do not expect strong drawdowns in the rate (why would someone sell an instrument that makes money?) And an influx of new tokenholders. Disappointment with lunchpads we feel very well among the community. This model does not show itself very well in a falling market: the public is waiting for Xs, which simply cannot be. This, by the way, is one of the reasons for the transition to the Stakedrop model.
Incrypted: What lessons have you learned from the of the CatapultDAO project, and what do you plan to do otherwise while working on Catapult?
Catapult: Not fast enough recruited new people to the team: often corny lack of hands on the implementation of all plans. Now there are several times more, so it has become much easier to develop new directions, make new products.
Staking was not immediately implemented, which caused huge volatility of the token in April-May. And one of the important mistakes is collecting and releasing projects in an overheated market, although experience suggests that you need to pause.
Incrypted: When is it planned to create a protocol to support cross-chain IDO on other blockchains? Could you tell us more about cooperation with KOL, Funds?
Catapult: All our three current stakedrops on different networks: Moonriver , Near, Ethereum and there was also an NFT event on Solana. So there are no problems with projects on other networks.
According to KOL: we actively cooperate with Russian-speaking, Turkish, Vietnamese and Chinese. This work is ongoing. Now that there is a web version, let’s go beyond telegrams and twitter.
Cooperation has been established with various VCs, we are constantly expanding our network of contacts.
Incrypted: What are your plans for the development of the project?
Catapult: We plan to provide a stream of interesting and high-quality projects on the Stakedrop in the next few months. Ideally from per month. We also want more collaborations with NFT projects: stake for whitelists, stake for NFT drop. This type of activity is very popular with our community. Tomorrow there will be a Stakedrop on the NFT Iron Pigeons, who are actively shilling on Twitter by Mike Tyson.
