CROWD Ask Me Anything with FCM
CROWD had AMA(Ask Me Anything) time last Monday. This AMA was proceed in three segments. The segments were community managers, Twitter questions, and live questions.
This section was a time for community managers to ask about CROWD.
Can you explain to our community about the CROWD project, and how does CROWD work on the blockchain?
CROWD is an IDO platform based on Binance Smart Chain to offer fundings to promising young blockchain projects with advantage of faster transactions and low fee under Binance Smart Chain. By staking CROWD Token in Binance Smart Chain CROWD Pool, investors are guaranteed to receive IDO Power based on the staking volume. The ultimate goal of CROWD is to provide a framework that gives equal opportunities to individual investors from the initial funding stage for the start-up blockchain projects
what has been achieved in CROWD and what is the next target?
We have indicated completed developments in our roadmap. Please check the link below for the roadmap.
We are currently at 2022 Q2, working to develop KYC integration and Governance. Also we are currently going through our first IDO and happy to say that over 70% is sold within 1 hour. In the coming months, we also have plans to airdrop our unique NFTs to our communities which will hold special benefits in using our IDO Launchpad. Please stay tune for the update!
Does CROWD have staking feature? And what are the advantages for investors when staking in CROWD?
The staking function is available on CROWD’s launchpad. When staking BSC-based CWD tokens, the tier level is determined according to the number of deposited tokens. You can also get powers that match your tier. This power can be used when applying for a whitelist or participating in a project sale. In addition, we will airdrop unique NFTs to unlock the hidden tier which we haven’t yet revealed to the public.
Each project has different security, what kind of security does CROWD use to store investors’ data?
CROWD is a blockchain-based service. The overall IDO process is all operated by BSC-based smart contracts. We are GDPR compliant by default and never collect and store personal sensitive information. So you don’t have to worry about personal information being used for other purposes.
Can you explain about IDO requirements in CROWD?
Among people who receive tier and power by staking CWD for 72 hours, those on the whitelist with KYC are able to participate. Participation fee can be paid by BUSD and a number of whitelist will be decided to the extent that a competition rate won’t be abnormally high. Missions can be possibily added if needed, but it won’t be difficult to participate.
These are questions posted on Twitter. A lot of users asked about CROWD. Daniel answered 5 questions among them. Thank you to everyone who asked questions.
All project tokens have a Main Utility and can be used in the real world! So, could you tell us about the significance of tokens in your ecosystem? Explain its utility and real-world applications. & Why should I invest in Your token on a long-term basis?
CWD staking is available within the CROWD IDO website and it is well explained in our Gitbook. Besides staking, everything including bridge and IDO are also available on the website.
The number of projects currently secured by the CROWD foundation and the project lineup currently under discussion are excellent. We are confident to keep attracting good projects constantly and the community will be aware of this soon. If IDO goes well, more and more CWD tokens will be locked in to get more POWER.
Additional plans to use CWD are also being discussed within the team and it will be something more than IDO governance. For example, some projects which progress IDO using CWD governance are under development. In addition, as IDOs related to buyback are going on, a number of cases are in consideration including an accomplishment of much more buyback, so further increase in value is expected.
What kind of interesting features do you have in this project? And what are the strengths of this project?
The biggest advantage of the project is that we support BSC, Klaytn and Polygon networks, and there are various actual confirmed projects that will execute IDO. In other words, it is the only platform that the community can participate in the initial fundraising of the best projects of several mainnets rather than a single mainnet.
In addition, once IDO through governance is completed which we ultimately aim for, we can make a leap into a truly decentralized IDO platform. Through this, we will achieve differentiation from other IDO projects.
Please tell us about the CROWD partnership, and what is the function of the partnership?
We believe partnership is one of the key factors in expanding our service. Our team has partnerships with various companies. And each company has different partnership agreements, some are disclosed and some are under NDA. For example, we are maintaining collaboration with various projects for the convenience of users and projects, such as listing on exchanges, raising investment funds, and supporting technical developments.
In addition, startup projects can raise initial investment through partnership with CROWD. CROWD helps raise funds by introducing the community to projects that may receive attention in the future.
For project development, the main priority is to have sufficient funds. Is your team financially able to carry out this project? Do you have partnerships with venture capital firms or investment firms
Yes, that’s right. Recently, many projects often disappear in a short period of time. One of the reasons is operating funds. For us, it is a project that has been maintained for more than a year. Before the CROWD service, we operated the prime brokerage service and saved the funds necessary for the long-term operation of CROWD. Of course, in addition to this, we conducted fund raising through VC. So we can assure you that the fund is the part we are least worried about.
What was the biggest problem when you built the CROWD project and how did you solve it?
First, since CROWD is an ERC-based token, the slow transfer speed and high fees were the biggest problems. So we decided to build Launchpad on the BSC network. ERC-based tokens can be converted to the BSC CROWD token via bridge function.
Second, one of the key elements of Launchpad is project sourcing. In order to introduce high-quality projects to the community, we have communicated with the project for a long time and provided an accelerating service. As a result, we were able to finish preparing various projects to introduce to you, and after the successful launch of this first IDO project, we plan to present more projects.
This section is the end of the AMA. There were a lot of questions from community users. We wanted to answer everyone, but we couldn’t. Thank you again, and let’s look at the question.
Why did you name your project CROWD? and what is CROWD mean?
CROWD literally means a crowd and it is based on crowdfunding. Many structures in CROWD’s logo are stars symbolizing projects with huge potential. It has an ambition to discover and provide high potential projects to users.
What are the differences depending on the CROWD Launchpad tier?
The team decided to apply a tier system to pay benefits according to the number of CWD staking of participants. The tier will be determined by the number of CWD tokens you are staking. The amount of power is fixed, and the total amount of BUSD that can participate in the sale varies depending on the power. For more information, we have informed you through CROWD’s official medium, so please click the link below to check it.
Is the staking website for crowd staking or just do it on the existing website?
CWD staking is available within CROWD IDO website and it is well explained in Gitbook. Besides staking, everything including bridge and IDO are also available in the website. We will prepare well so that you won’t have any problem when the service gets launched.
Is this your project only for elite investors, How about others with small funds, is it open to everyone?
Yes, we are not targeting any specific group of investors. With small amount of CROWD token, you can stake and receive Tier that’s needed to participate in our IDO. So do not concern about the amount :)
Does #CROWD have the intent to make its project globally known especially in the regions of the world where crypto is very known and prominent? Or will your project stick as a local project?
We are targeting multichain platform. We believe certain chains are popular in certain areas, thus limit to one chain is always risky and targeting small community. However as we support multiple chains, we aim to capture more global communities :)