Launchpad TG DAO 3.0 x LocalTrade

Joint AMA Recap

SLAVIK FOKIN: Hi, everyone. I’m Slavik Fokin, the CEO of TG DAO 3.0 Launchpad. Today we have a special AMA session. I’m going to present you the first project that we are going to launch on our launchpad. If you remember our roadmap, we were going to start fundraising for projects a little bit later, maybe in the end of January, or even in the beginning of February. But I must confess that when we found this project, we were so excited that we couldn’t wait any longer. So today, I’m going to speak to a team of Localtrade. Please welcome Ivan Yatsenko, Marketing Officer of Localtrade.

IVAN: Hey, everyone, and hi Slavik, and thank you for having me here today. Yeah, how’s it going?

SLAVIK FOKIN: Well, it’s not bad. I think that you guys are also pretty excited about everything — about events that are upcoming for you.

IVAN: Yep, very excited.

SLAVIK FOKIN: Yeah. So we’ll talk about it right now. Okay, let me tell you briefly about the rules of our AMA session today. So first, we’ll have some chat with, between me and you. And then we will have questions that were collected on Twitter. Those will be questions from our audience. And I think it’s also pretty important to have them answered because the community, they always have a lot of attention to your project. And of course, they have a lot of things, which are interesting for them. Okay, let’s start. First of all, I’d like to ask you about your project in general. If we look at your name, Localtrade, it says a lot. But what exactly does it mean? Can you tell us more about what Localtrade does and how it works?

IVAN: Initially, Localtrade, it’s a centralized exchange, just like Binance, or Kraken, or OKEx. It was operating since 2017. But we decided that being just a centralized exchange is not really enough, in order to be on the verge of the progress, on the verge of Web 3 technologies. And we realized that we cannot really compete with Binance. So we wanted to expand further, we wanted to develop our project further. And we started researching, and our research led to the decentralized finance sphere. Right now it’s booming. And our intention, our development matrix has changed into decentralized finance sectors. So we’re giving people decentralized finance services. We are building a DeFi Lab ecosystem, ecosystem of DeFi products on the basis of our already existing centralized exchange.

SLAVIK FOKIN: That’s very interesting. And, you know, I have to say that the fact that you already have a platform, which is operating and you have the history from 2017, it’s very important for us, because a lot of projects when they’re launched, they don’t have anything, they maybe have the MVP, but nothing else. And the fact that you already have a working product, I think it’s amazing for everyone and for investors who are going to invest in your tokens particularly. Okay, and can you tell us more about your team? Where are you based? How many of you are working on the project?

IVAN: Yeah, let me elaborate. Our team is really, really experienced in crypto. We have two offices. One is located in Kyiv, Ukraine, and our headquarters is located in Dubai, UAE. And our team is scattered between these offices. They’re migrating, they’re going remote work, like hybrid remote work. Talking about our officials, our CTO has over five years of experience in creating crypto projects, in crypto acquiring solutions and crypto to fiat exchanges. Our CEO, it’s Aaron Levi Yahalom. He also has a lot of experience in crypto but from the side of marketing. He’s been engaged in a lot of marketing activities with crypto projects before and he has also been developing the Purify protocol project. What we’re really proud of is that we have a full development team in house, a blockchain developers team consisting of ten high caliber developers. We do not outsource our development. And this is what I think is most important because our people, they always get stable results. So the results are always consistent. And the technology is pretty good.

SLAVIK FOKIN: Ten developers, it sounds pretty impressive, because we have only five so I understand that it’s a lot. And having such a huge team, can you tell us what compelling features have you come up with to launch inside the Localtrade?

IVAN: Yes. So you know, when we were researching the market, we have actually seen a couple of main issues that most of the users have contacted. The first issue is a high technical barrier for the user standard. Not a lot of people know how to use a crypto wallet. Not all people know what crypto is. And even fewer people know what DeFi is and how to use DeFi products. So our main intention is to get these people to know what DeFi is and to give them convenient tools. Another opportunity for our project is that we’re lowerin monetary barriers. One of the barriers, besides the technical limitations, is a high investment barrier when talking about monetary funds. So in order to dive into some of the projects available in the market, like the pre-IPO investment market, free private equity markets, you’re going to need not only $25k to $100k, but also you’re going to need a lot of legal paperwork, so you’re going to need to be an accredited broker or to go for an accredited broker. And what we’re trying to do is we are creating a solution that eliminates these technical and financial barriers, allowing retail investors to get into DeFi space with only a bank card and a $10 check. So you can start just from $10.

SLAVIK FOKIN: That’s amazing. And, you know, I also noticed on your website that you offer the tokenized assets of companies, right?

IVAN: Yeah, that is actually right. That’s one of our products.

SLAVIK FOKIN: And, you know, I was impressed that you have the tokens of Kraken. Can you tell us more about this, about tokenized companies? We, at TG DAO, are also very interested in this direction. And your experience, it’s very, very interesting for us. And maybe you can share some of that.

IVAN: Of course, I’ll explain it in a lot of detail. A new broker smart bond is one of our products. This is essentially the product that allows people to collectively purchase tokenized securities, shares from the pre IPO companies, and then they’re going to be extracting profit whenever the company goes on the IPO. So why are we doing this strategy? Initially, private equity market, as I have already discussed, is pretty closed out. So you’re not going to be able to enter this market if you do not have a lot of funds, or if you’re not to go into an investment fund or an investment broker. And what we’re doing, we’re partnering with an investment fund that is called Unicorn Tokenization Corp and Ambisafe, the technical tokenization services provider. And so this fund owns and purchases actual shares on the pre-IPO stage. So before the company announces that they want to go public, the fund already purchases the shares, then we are tokenizing the shares and allowing people to get into the Kraken or into any other company that is going on the pre-IPO stage right now. The most interesting part is that you cannot actually buy less than one share from any company anywhere. So sometimes you need to spend from $25 to $3,200 depending on the company. Talking about Kraken, their shares were priced at $74 per share. But using our solution, you can get as as little as just a $1 investment. This is the best advantage for users. And how this works: initially, whenever a company goes on IPO, it takes 12 to 24 months starting from the announcement date, and statistically, on the first day of public trading of their shares, most of the companies, like 70% of the companies, they tend to give positive returns on the first day of trading. And this is our strategy. On the first day of trading, all the positions are liquidated, they’re closed. Shares are sold, and all the profits, all the proceedings are automatically distributed between the token holders. So talking about Kraken, Kraken is one of our most successful examples. We had a $60,000 allocation for Kraken shares, and they were gone in just half an hour. So people were really, really excited about it.

SLAVIK FOKIN: I love the idea of fractionalized shares because, for example, if we take some companies, some really big companies, for example, Amazon, their share is currently traded at maybe $3,000 per share. So even if some people want to buy it, it’s not possible for them, because it’s too expensive.

IVAN: Yeah.

SLAVIK FOKIN: If you provide them with the opportunity to take a smaller part of the share, it becomes available too much by the audience. So this is a great idea.

IVAN: We’re doing just the same thing as Robinhood does. Fractionalized shares, but we’re doing it all decentralized, all based on smart contracts without any intermediaries.

SLAVIK FOKIN: Yeah, that’s great. Okay, so this is one of your features, which is already running. And do you have any other products that you’re going to introduce in the near future?

IVAN: Yes. So actually, we were going to introduce a lot of products in the near future. But let me tell you about the already released and available products. So first of all, we have done the Defi Lab, and we’ll be website. And we’re featuring all of our products, all the token sale information right there on the landing page. So we have fully revamped the CX internal trading engine, it’s a lot more performative now. And we have also updated the design of this, of this product. And one of our most recent releases was the DeFi Volatility. So it’s decentralized wallet application for iOS and for Android. Right now, it’s in the public beta test. It’s available on desktop for iOS, but it is going to be released in the App Store and Android Play Store. I think by the end of January or early, early February, at most. Yes. So what we’re trying to do is this wallet is not we’re not trying to give people just another wallet because everybody uses Metamask, or trust wallet, or whatever the one, people do not need another wallet, we’re trying to do a — application that allows for seamless atomic swaps in one place. So the biggest issue with atomic swaps right now is not a lot of companies can actually perform those atomic swaps as they — as initially designed. So initially designed, it’s supposed to be a transfer of tokens. So convert BB20 token to ERC 20 token to — or to even to Bitcoin, in just one click. But even in Trustwallet, if you go to the decentralized exchange, you’re going to be able to only convert BB20 tokens to BB20 tokens and ERC 20 to ERC 20 tokens, you’re not going to be able even to exchange Bitcoin for anything. And what we’re trying to do is this wallet, we’re building a protocol that is going to allow for seamless cross chain swaps in one click. So you’re going to be able to exchange BTC to BNB or to even Shiba Inu in just one click. So going across the Blockchains. Yes. And this functionality is currently in development. It’s going to be available early March, I guess. Yep. Somewhere like this. And talking about our upcoming products. We’re having a lot of work on some special common. It’s a leveraged decentralized exchange. Yes. So it’s going to be one of the — one of the rare occasions on the Binance smart chain, we do not have really a lot of competitors with margin trading on Binance smart chain. As I can see it’s not really that popular, but it is popular on the Ethereum network. And we’re building each on BSc in order to give people a good viable product. Yes, it’s going to be like, I guess, starting from — on the start is going to be like up to 5x. Margin. Yes. Yes, five times the margin is going to be

SLAVIK FOKIN: Okay. Okay. And if we talk about atomic swaps, can I ask you how it will work for project, for example, we have our own native token, right? If we want to make a pair with our token to be traded on your on — your platform? How will it be possible? I mean, do we have to come to you and to fill in some application, or it will be added somehow automate automatically, also similar to just applying to any CX?

IVAN: So the protocol right now it’s currently in the development is going to be featuring our own liquidity. Yes, from the leverage dx. And it’s going to be featuring other liquidity. So it’s going to be like a combination of a routing protocol and the atomic swap protocol. And we’re going to be having an API open API that is CEU, that will be available for use as public and commercial use. Yes. So you’re going to be able to integrate our, our solution into your products with just a couple clicks, couple lines of code doesn’t take that much.

SLAVIK FOKIN: Yeah, yeah, that’s something that we really appreciate. Because, you know, we have this partnership with you. And we are looking forward to elaborate on it. Because we have a lot of features on our platform. But at the same time, I believe that your features that you have inside of your product, they can be complimentary, what we already have, and it will be beneficial for our community. So this is something that can be like a synergy between our projects. And I think it will give a lot of value to both of us. Yeah, so I’m pretty excited about our partnership. Yeah. So

IVAN: We’re, we’re actually building all of our products, so that they can be working in synergy with other products as our products and designs or Blockchains, with other companies products, so that we’re always we can always go for another partnership, if it’s really good yet.

SLAVIK FOKIN: Yeah. Okay, maybe let’s talk about financial part. Can you tell us more about your monetization models? Probably you have different monetarization models, because you have so many different products? Yeah. So can you just share some details?

IVAN: Yes. So we actually have only one monetization model, and it is scaled across all of our DeFi labs. So for CX Yeah, we mostly maker, our money on centralized exchange from, from, from commissions from trading fees and commissions. But talking about our DeFi lab, essentially, a deep buy lab will only make money whenever a user makes money. So we take a fee a service fee of 20%, from the users profit. So whenever you use or the investor, $100, he gets $150 back, we’re going to be taking 10 person $10 of that. So 20% and we’re going to be used to distribute any for the operational expenses and for the development of our platform. Yes, whenever you if user invested like $100 and get a return of $90. So he gets a lot. He gets losses. Yeah, in this case, we’re not going to be exempt in any percent of this. So the platform is not going to be able to make profit. So this is pretty much our general monetization model before our new broker product for the leverage DX product. DeFiwallet is going to be a fully free product with only transactional fees. Yes. So transactional fees are minors fees, and we do not make any money on those.

SLAVIK FOKIN: Yeah, sounds good. Okay, and maybe now it will be your favorite person, because you are marketing officer. And I’m going to ask you, is there anything special in your marketing or go to market strategy?

IVAN: Yeah, so actually, are — Yes, we do have a lot of activities prepared for users. One of our most recent contests and one of our most rent contests is Eva Bass Tournament. So we’re trying to engage users into the TE fi with with the help of NTF’s. Yeah, I know it sounds a little bit ridiculous because everyone is doing the NTF’s right now. But yeah, it’s, that’s where the hype comes from. So the history of that is we have a mascot the Localtrade Croco. And we’re creating a trading card game and trading our tournament where users can, can engage can be engaged in this tournament get NTF’s for their extra for the engagement, and after this tournament ends, we’re going to be adding more gaming mechanics. And we’re going to be integrating these NTF’s deeper into our already existing system. So yeah, so we’re so we’re already have five NTF’s that users can win right now during the tournament. And for the winner for the one user who gets all of the five NTF’s. We have prepared the left six NFT. It’s a pretty, pretty impressive one and a grand prize of $2,000. Yes, so our total prize pool for this contest for the evil pass tournament is $50,000, I guess? Yeah. So it’s pretty much only five users who can get all five FTEs are going to be getting 2000 bucks each. Yeah. And for the both DG, we have also a extensive roadmap of events, we’re going to be given more attention to our new broker and its marketing campaign. But for right now, these are the most like, yeah, the most go to market activities that we have. Can you condense?

SLAVIK FOKIN: Yeah. You know, that’s a great idea. Because, you know, on the one hand that DeFi platform, it’s a it’s something serious. I mean, it’s led to all this finance and money. Yeah, I mean that people usually treat money serious. But at the same time, I believe that it should not be boring, and such elements as NFT, it’s a great way to introduce it to a wider audience. So yeah,

IVAN: Yeah that’s also my approach. I always love when any platform when anything serious is going more for more user friendly experience. So it’s going for a more gaming gamified experience I like I love when gamification is integrated into almost any part of our lives, like any animations that are really, or whenever you’re opening an a loot box, whenever you’re opening a letter, and you see a great animation that broke the price you visit like something like a gig. It’s also gamification. So we want to integrate this more and more so that users don’t get bored.

SLAVIK FOKIN: Yeah, right. Okay, and if we talk about DeFi, you know, one of the mainstream elements of any DeFi product. And by the way, you know, we launched our talking not so long ago. But now, probably the most popular question we have is, when will we introduce staking. So we do have staking included in your product.

IVAN: Yes, so we actually had plans for the staking rewards. And we have just finished processing the mechanics. And we’re already developing the smart contracts as the architecture is going to be available right on the TG on January 2022. So we’re introducing steak and Waltz is going to be Ltd staking and rewards for the steak and is going to be also distributed in LLT. But we’re not doing just say to API wallets so that you’re getting your LTT’s gone. And then you have some just some more tokens on top of that tokens. We’re introducing two types of wallets. So first one is the status API world where you can get up to 100% yearly profit on your Localtrade tokens. And the second one is the supreme API pool. So this one gives you it has, it’s filled with tokens, and it has a daily give out parade of tokens. And this daily rage is not is fixed, pretty much. So the amount of tokens distributed to all the participants will depend on the amount of participants and how many tokens they have, they can actually take an interesting. So how this works is if you’re the only one who goes into staking, and the pool consists of let’s say, 600,000 Delta T’s, and you’re the only one who gets 100 LTD is interstate and you’re going to be able to get all of those 600,000 LTDs are going to be distributed straight to your ward. So if somebody else comes and gets puts another 100 lgt in this supreme API pool, so the distribution rate will be divided between your LLT and his LTT. So another person comes in the rate pretty much grows, but it the highest rate is pretty much practically infinite. Yes. So whenever zero users enter the pool, the daily give out great today, why is going to be infinite percentage.

SLAVIK FOKIN: Yeah, somebody will do better lucky will be the article. Yeah, this instead of percentage. Okay. Yeah. And maybe another question I would like to ask you is that I have I see in your roadmap that you are going to introduce your own crypto card. So can you tell us more about it because I believe this is a great strategy to reach non Blockchain audience and to introduce your product to a wider audience?

IVAN: Yeah, yes, you’re pretty much right. That’s what we’re trying to do is look great Visa cards, we’re always trying to search for more markets, we’re trying to engage new and emerging markets into the device sphere. So we’re trying to give more underbanked people, people who do not have access to basic financial services, we’re trying to give them the access that they really deserve. And the local create Visa cards first, we thought it was going to be a dedicated single product. But right now we’re actually developing it as a part of our Neobank app. So our Neobank app is going to be a further development of our centralized exchange. And it is going to be become the bridge, the bridge between our centralized exchange and our DeFi level ecosystem. This app is going to will combine the decentralized finance with Fiat convenience. So it’s going to be it’s going to be built with local free. Pardon me. So it combines a crypto wallet functionality and the banking, crypto banking experience functionality, pretty much you’re going to be able to double up your balance, buy and sell crypto using the card and you’re going to be also able to order yourself a physical or a virtual Visa Card Localtrade Visa card, that is going to be a crypt crypto bet. So you’re balancing crypto is going to be tied to your credit card balance. And you’re going to be able to pay with your crypto. So pretty much using your crypto all day, every day, in any point of the world anywhere. And besides that, we’re also trying to give people some great Fiat to crypto gateways so they can convert their crypto to fiat funds easily, seamlessly and resolve the extra fees.

SLAVIK FOKIN: Yeah, okay. And can we talk more about technology, what Blockchain particularly are going to use and why?

IVAN: So we’re not going to use — we’re actually right now we’re using the bind on smart chain. So why we decided to use a binding smart chain. When we first started, we thought that Ethereum is the best platform. So Ethereum pretty much is the biggest platform for smart contracts and decentralized applications. But right now, the issue with the theorem is that a guest price is calculated in weight. So it’s pretty much the guest price is tied to the price of Eth. And whenever eth grows, the guest price also grows. And the system right now before the introduction of Eth 2.0 and to the introduction, which is going to be a really underperforming, it’s overloaded. And it is crammed with unnecessary projects. So this, this is something that we cannot afford our users to go through. So since sending a $100 transaction for $100 fee is pretty ridiculous. So we decided to get into some more, some better solution a lot low, more -low dose affordable solution. And we decided to go with a finance smart chain. So because it’s pretty much the same Ethereum main, that ethereal network, but built by Binance and their transactions cost a lot. A lot less than on the theorem network.

SLAVIK FOKIN: Yeah, makes sense.

IVAN: Yes. And talking about our technology. I also wanted to mention our security points. So yes, our — it’s going to be something like most India, but I’m pretty proud of the project that we have built, and I’m pretty proud that this project is, is really secure. We have passed the audit by second, Second company. Yes. And the first time we have passed is for their first verdict was well secured projects. So it was a smart contracts, they can review them and said that our project is fully well secured. So we did not need even to get any vital implementations into our code. And again, they were also partnering with them. So they’re going to be also auditing all of our upcoming products and reviewing them for security.

SLAVIK FOKIN: Yeah, that sounds great. Okay, now, I suggest to go to all our community and, and see what questions they have. So let me look at it our Twitter account. So okay, so I see a quite interesting question here, which is, you know, on one hand, it’s pretty common for all the projects that are going to do their ideal, but on the other hand, it’s very, very important for investors who want to purchase your tokens. So what is the team strategy to keep the price of the liquid listed token higher than the price of the token salt at ideal?

IVAN: Yeah, that’s a really good question. And we’re actually considering a couple of the price stability mechanisms. Let me elaborate further on that. So first of all, what we’re doing is, we’re having a token buyback system and the token burning system. First of all, as I have told you, 20% of the bonds 20% of the profit, they’re distributed for the operational expenses. And also part of this profit is allocated in order to buy back the tokens is the LTD token from the pool. So LTT or token will be listed on pancake swap, January 2020 21, so the TGT date. And we’re going to be using the funds profits for proceedings in order to buy Nike token. And we’re going to be supplying the B USD our profits into that pool to apprise, the tokens price, and also the tokens that we buy back, we’re going to be burning them in order to lower the market supply and lower the circulating supply. So pretty much those are two main mechanisms that we’re going to use in order to stabilize the price.

SLAVIK FOKIN: Okay, yeah. Thank you for your answer. Okay, add another question I see here. In your roadmap, you have your own wallet, I mean, that you already told us about your wallet. But here, it’s a little bit different. So you all you have your wallet, what will be its main difference from all other wallets that existing on the market? Do you think you can handle the competition? So you already told us the main differences? But maybe what I want to clarify here? Do you consider your wallet as a standalone product? And I mean that people, users can use it, just the wallet itself? Or you want it to be a part of the whole ecosystem of your product. So I mean, that if a user uses your main product that they use wallet as well, like, how will it work from this point of view?

IVAN: So right now, our DeFi wallet, it’s a fully standalone product. So users can just use the wallet without any integrations to our system without anything else, they just create the wallet, they export private keys, they use their own wallet. But for the further plans, like we want to create a deeper, deeper integration with our defy lab eco system so that users are going to be able to seamlessly access the Defi Lab products through our wallet, connect the wallet and search for their balance. So all of this is going to be embodied in the new bank app. But for right now it’s a standalone product that we consider an addition to our ecosystem that it’s going to be that allow us to broaden our, our audience. Yeah,

SLAVIK FOKIN: Yeah, I do. If we talk about the wallet I have another question because I don’t know whether you know it because I mean, that is more maybe more a question for the product owner. But this is like from my personal experience, sometimes. I like I tried to find the wallet that supports sending several payments in a single transaction. For example here would like we have several winners who are asking these questions. So we will have some prize pool for that. Yeah. And then after this session, we will send the prize pool to several winners. Yeah. But from my personal experience, I couldn’t find the tool that makes it possible to send all the payments just with a single transaction. I don’t know whether you have it, or you will have it. But maybe it’s just some idea that you may use because I believe that it can be really, really useful for, for a lot of people who do this payments to multiple parties at the same time.

IVAN: The joint transactions Yeah, it’s really interesting idea, but I believe that it requires dedicated smart conference dedicated architecture to be built upon, it’s going to meet a lot higher, it costs higher fees. And as of right now, I know that Bitcoin automatically stacks transactions. So like smaller transactions in one stack is, so it’s going to be possible, but for the wallet, it’s going to need is a dedicated smart contract for each user who wants to send batch transactions. Probably we’re going to be able to implement this feature later in the new bank app. But we have not really focused on it. Well, but yeah, thanks. Thanks for the advice. We’re gonna look at it better, better look at it.

SLAVIK FOKIN: Yeah, sure. Okay, and another question I have, who in particular would be best fitted to participate in your project? Can anyone join? And maybe I can also add some digitalization to this question. For example, if we talk about the tokenization of assets, this this feature of your like, Are there any limitations in terms of geography? Or some other limitations? Who can particularly buy those? Yeah, so what is your focus?

IVAN: Yes, so our focus is we’re a fully decentralized platform, we are not a condensing, we’re not executing any legal actions with those shares. So the fun the unicorn, unicorn organization Corp is a fund that we can partner up with, they actually own the shares, they buy the shares, and they open the positions, and they close the position. So they fully manage all the flow. After that, they distribute funds through our own smart contract. And we distribute these funds automated, it’s fully automated flow through a smart contract. So anyone who has a DF or who has a decentralized wallet, who can connect to the finance smart chain network, is welcome to participate in such offerings. Since those are tokenized securities, those are legally they are not shares. They’re tokenized securities, they can be perceived as stable coins, but they’re back not to the currency, not like one month $2, but one to one to the share, and their price changes according.

SLAVIK FOKIN: Yeah. Okay. Now I understand. And maybe the last question, because we are running out of time. I know now, the most important thing for a project is community, what are your plans to build a solid and strong community around your project?

IVAN: Yeah, so first of all, we’re engaging our community with a lot of promotional activities, as I have already told you, like the evil bass tournament, and a lot of regular contests that are going on. Second of all, we’re always trying to broaden our horizons trying to expand to new markets and to new emerging markets also. So in order to get the initial audience, we’re going with the ideas with QuickStarter. We’re trying to get the community going from other projects, other crypto communities, and also apart from that, our vision, it allows to also educate people. So we have a Localtrade University is pretty much an educational online platform that allows users to get basic knowledge and even advanced knowledge about the crypto about trading about Blockchain. Ne it has votary it has a lot of guides about our CX platform, it has the PI guides, it has a lot of really interesting and extensive articles. So we’re trying not only to build our community of affectionate and intelligent crypto powered investors. A crypto powered community from the beginning.

SLAVIK FOKIN: Yeah. You know, actually, we also have this focus on the community. And I’m really pleased that you have the same vision, that you value your community and I believe that this is something very important.