📢 Launchpool Community Announcement 📢
Dear Community,
The Launchpool Team would like to provide an official response to the recent launch of the Listen Project. While the launch of a non-incubated project is not under Launchpool’s control, we understand the massive loss incurred by our Community and have decided to take an extraordinary action in this case. Before we begin to outline the solution decided upon for our Investor Community, we'd like to provide a breakdown of our Investment Appraisal Process here at Launchpool.
At Launchpool, our initial appraisal process follows these steps: all projects coming to Launchpool for listing are initially reviewed by our in-house appraisal team, who consider a variety of parameters, including but not limited to; deck, founder background, community, industry vertical experience, tokenomics, competition within the sector, problem the project solves, other investors and more.
Once these projects have been reviewed, those receiving an initial thumbs up, get passed on to the final appraisal team, who will then further review to determine if there is potential for the Project. Once a project passes this stage, a meeting is then called with the Project's Team and the interview process begins. This final stage includes KYC and DD of the Founder, legal opinion of the project, drafting and signing of SAFT contract, before we announce the project to our Investor Community.
We see this as a standard practice and expect a similar approach would have been taken by the other launchpads that announced support for the Listen Project up to the day of their launch.
So what now❔
Launchpool understands the disappointment of the Community in regard to the launch of the Listen Project. Our appraisal process seeks to filter out any potential for poor performance, but sometimes things do go unexpected to plans. After having carefully reviewed the situation with the Alphabit Team on possible solutions; the following decision has been made. There will be a Community reimbursement for everyone that funded Listen.
This reimbursement will be done as a credit towards future projects. For every $1 funded, Investors will receive $0.85 worth of tokens split amongst the projects listed below:
• 25% in Time Raiders ($0.2125)
• 25% in a forthcoming Alphabit incubated Metaverse project ($0.2125)
• 5% in each of the 10 Launchpool Techstars - winning projects (10 x $0.0425)
No staking will be needed to claim these tokens. Investors that took part in funding for Listen will simply need to connect their KYC'ed wallet to our User Dashboard to receive the credited tokens once distribution starts. These tokens will be vested in accordance with the private vesting schedule. We believe this to be the best course of action given the current situation.
In regard to the remaining 85% of $LSTN tokens still to be vested, we will continue to honour the Listen vesting schedule and Investors will continue to receive these tokens.Looking forward, we have also taken the position to have an increased role in how external projects launch their token to the public. While there can only be so much "control" we placed here, we will be adamant that certain aspects for launch are maintained, for these projects that we don't incubate.
We look forward to our upcoming partnerships and the line of projects offers we have in store for 2022. We take this opportunity to thank the Launchpool Community for your continued support of the Launchpool Project - even during times of turbulence.
Launchpool Team
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Deposits & Withdrawals For $LPOOL (BEP-20) Are Now Supported On KuCoin!
Faster Trading…More Liquidity!!
Hello LPOOLers, what an interesting week of developments here at Launchpool. On Friday 28th January it was announced that the long awaited, BSC network withdrawal support for $LPOOL, on the KuCoin exchange went live.
KuCoin has now opened the BEP-20 “deposit” and “withdrawal” services for the Launchpool $LPOOL token. Users can check the Assets> Main Account> Deposit/Withdrawal page and select the $LPOOL (BEP20) network for transactions.
Please note that KuCoin now supports both ERC20 and BEP20 $LPOOL deposit and withdrawal services, therefore, it is important to select the intended network when trying to deposit or withdraw. KuCoin users now have a quick and easy way of going to and from Ethereum and BSC with their $LPOOL tokens!
Announcing The Next Launchpool Labs Pre-Seed AME - xG Studios
A Web3 Lab - Developing Community And Utility Driven Sports Projects Is Coming To Launchpool Labs!
Get ready for more AME action. Next up on Launchpool, is the xG_Studios pre-Seed AME. This Launchpool Labs incubated project will be coming to Launchpool on Monday 31st of January.
xG Studios is focusing on grass-roots sports communities – and rewarding their real-world participation by unlocking new digital experiences enabled by web3. It’s Play-To-Earn, but In Real Life.
xG is building a new economy for football - with plans to expand to multiple sports and launch an NFT marketplace. A Play-To-Earn experience for athletes and sports fans, rewarding real-life activities with composable dynamic NFTs and the xG utility token are all in the works!
This pre-Seed raise requires the Gold NFT to participate, however there will be opportunities for members of the Community to win free tokens, even if they do not have the Gold NFT. Keep following our official Labs Twitter page to learn more.
The Labs NFT Minting List Has Been Updated
Explore More Opportunities With The Launchpool Labs NFT Experience
Launchpool is excited to announced that the NFT minting page has been updated once again. LPOOLers are now able to visit the minting dashboard to mint their Gold and Bronze NFTs themselves. In order to be eligible for both the Gold and Bronze NFT, LPOOLers will need to meet the minimum NFT eligibility requirements
Participation in both the Launchpool and Launchpool Labs AMEs will be taken into account toward NFT eligibility. The User’s eligibility list is updated on the minting dashboard prior to the date of the next Launchpool Labs raise. If you have visited the minting page today, and are not eligible as yet; you will need to wait until the next scheduled update before you can mint your Labs NFT.
The Launchpool Labs NFT system is a unique, guaranteed access mechanism to exclusive pre-Seed and Seed allocations in the projects incubated through the Launchpool Labs Incubator Program.
Click Here To Learn More
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🗞️ In other Crypto news….. 📰
Solana Goes Down Again, Fantom Surpasses BSC, Frog Nation Collapses
😥 Solana Goes Down Again 😥
Solana's network performance was impaired from Jan 21 0:00 UTC to Jan 22 20:00 UTC, causing many Solend transactions to fail and the entire chain to halt.
Many attempts at depositing and repaying were unsuccessful, making it difficult for users to keep their accounts from being liquidated. Furthermore, the Pyth price feed had some erroneous volatility, which resulted in erroneous liquidations.
👻 Fantom Surpasses BSC 👻
According to data from the analytics tool DeFiLlama, Fantom surpassed Binance Smart Chain (BSC) over the last weekend to become the third-largest decentralized finance (DeFi) ecosystem by total value locked.
More than $12.2 billion worth of FTM and other tokens were locked on 129 protocols on Fantom. That's just over $94 million locked per project on average, and it's a 52% increase in the past week with more than a 170% increase over the past month, according to the data shown
The partial cause of this was the anticipated release of Andre Cronje’s Solidly project and the subsequent battle for its NFTs
🐸 Frog Nation Collapses 😵
The CFO of Wonderland (TIME), a fork of OHM on Avalanche, has been exposed as the Co-Founder of the notorious ponzi exchange QuadrigaCX. Sifu, the manager of the Wonderland treasury has turned out to be Michael Patryn, formerly Omar Dhanani, who was the co-founder of QuadrigaCX which exit scammed for $190 million when its founder mysteriously disappeared.
This is also bringing down every other DeFi project under the Frog Nation umbrella such as Abracadabra and Popsicle finance.
What happens next is anyone guess…
That’s all for this week! Watch your inbox for next weeks Pop Up Press!
For more news about the projects we are launching on Launchpool, keep an eye on our Twitter, Telegram, Reddit, and of course come visit us at our Website and App. For Launchpool Labs, keep in touch with developments and meet the first Cohort in our Discord channel.