IDEAS Live AMA
24th April 2023
Welcome to the IDEAS live AMA with The Gem Hunters, we would like to thank the team for attending the AMA and sharing information on the project with our community! This is a recap of the Live session we had with team IDEAS.
Aryan|TGH@TheGemHunterstg : Can you tell us a brief info about IDEAS and what team IDEAS are aiming to achieve ?
Adam/Founder@IDEAS : Sure. IDEAS is an ERC20 token that has been built on the Ethereum network, and will serve as a utility token within the IDEAS Platform.Let me provide you with some information about the IDEAS Tokenomics. IDEAS is a fixed supply token of only 300 million tokens. All the tokens are minted, and we’re continuously burning tokens, which makes IDEAS a deflationary token. Currently, we have about 11% of the total supply burned, through different events and functions. IDEAS liquidity is locked for 5 years (till 2028 – able to be extended). It is deployed on Uniswap-V3, and all the liquidity rewards will be burned.Marketing and budget wallets are locked for 12 years. All the relevant links can be found on our website and Telegram channel for verification. IDEAS Goals and Vision:IDEAS aims to revolutionize fundraising and investing by creating a decentralized platform accessible to all kinds of projects, including non-crypto projects.Entrepreneurs can share their startup ideas on the platform to receive support from investors or donors. The IDEAS Platform is being built as a decentralized autonomous application platform, designed to bring together entrepreneurs, investors, and skills in a shared space that operates using cryptocurrencies. Decentralized because we aim to make it controlled by the token holders throughout voting. No single entity will be in charge of the platform. Autonomous means that the community will contribute to the enhancements and improvements of the project. Utility:The IDEAS Platform will allow users to: 👉🏻Post their projects online to attract potential investors from all around the world. The entrepreneurs will get their projects done, and the investors will get profits.👉🏻Borrow cryptocurrencies from other users and pay them back after some time with profits.👉🏻Request donations for their causes or projects.👉🏻Post job assignments online to find suitable freelancers that are ready to work and get cryptocurrency as a payment.
While the platform is still under development, we have deployed a first version that you can all try out using this link:
https://www.ideastoken.app. As an introduction to the platform, you can watch this video on our YouTube channel: https://www.youtube.com/watch v=opyEJNXJxVY&feature=youtu.be.
Aryan|TGH@TheGemHunterstg : Can you share some information about the team behind IDEAS, what your backgrounds are? What is your previous experience?
Adam/Founder@IDEAS : The core IDEAS team is composed of seven skilled developers with experience in programming, development, and crypto.Although IDEAS is our first crypto project as a team. IDEAS was deployed in November 2021, so it has been around 1.5 years since the project began. We share the same mentality. The team strongly believes in blockchain technology, decentralization, and the core fundamentals of cryptocurrencies.We believe also in IDEAS as our project.The team members are more than just employees; they are also IDEAS holders, and are paid in IDEAS. They have a strong faith and desire to see the project through to completion, as they are committed to its long-term value rather than seeking fast profits. Although not all members work full-time on the project, some are part-time workers, which allows us to operate sustainably over the long term.
Aryan|TGH@TheGemHunterstg : As you have mentioned before that you want the holders to control and contribute to ecosystem so can you elaborate on how the platform’s governance model works, including the decision-making process, consensus mechanisms, and how participants can actively participate in shaping the platform’s direction?
Adam/Founder@IDEAS : We are committed to building a platform that truly gives power to IDEAS token holders. In the final version, they will have control over the platform as if they were the core team. This means that if a user posts a scam project, for example, other token holders can vote to ban that user and remove the project from the smart contract and the platform.The voting power will be based on the number of tokens held by each user. There will be a rating system and a ranking system. The rating system will give users the ability to rate a certain project from 1 to 10, normally, the higher rated projects would mean better projects.To avoid scammers from elevating the rate of their projects, the ranking system is there. The ranking system gives each holder a rank, based on how many IDEAS he is holding, the higher his rank the more powerful his voting and rating power. Holders of a certain amount of IDEAS can create propositions.Whatever is that proposition, it will be subject to voting, and since we aim to make the platform autonomous and able to be improved and enhanced by its community, the result of the voting will be able to be carried on by the community members. The voting result will be considered successful if it gets more than 50% of the votes. As we work towards our vision of a truly decentralized platform, the IDEAS team will continue to oversee necessary operations until the final version is published.By that time, the IDEAS team will be part of a community that actively works on improving the project and driving its success.
Aryan|TGH@TheGemHunterstg : What specific pain points or challenges does IDEAS aim to address in the current entrepreneurial and investment landscape? How does the platform provide unique solutions or opportunities for entrepreneurs, investors, and skills to collaborate and benefit from each other’s expertise?
Adam/Founder@IDEAS : Most, if not all, of the crypto launchpads in the crypto space are exclusively oriented toward crypto projects. This means that they can only be used to launch crypto-related projects. Polkadots and PinkSale are an example of these launchpads. However, IDEAS offers a unique solution by allowing any kind of project to be posted on the platform, whether it be financial, engineering, or crypto-related. All projects will be funded through cryptocurrencies, providing entrepreneurs from around the world with the opportunity to find worldwide investors for their projects. This approach is new and innovative in the crypto world, and to further enhance its value, we have decided to make the platform decentralized and autonomous. Of course, there will be rules and conditions in place to protect the users’ and investors’ funds using decentralized solutions that are provided and secured by the power of blockchain technologies. Also, the use of blockchain decentralized and trustless technologies on the IDEAS platform will eliminate many of the typical repetitive procedures, unnecessary expenses, and extensive paperwork that are commonly found in fundraising and recruitment processes. This will open doors for entrepreneurs, investors, and skilled individuals to connect and build their ventures.
Aryan|TGH@TheGemHunterstg : Can you provide more details on the funding process within IDEAS, including the types of projects or startups eligible for funding, the criteria for project evaluation, and the steps involved in the funding process? How does IDEAS ensure transparency, fairness, and accountability in the funding process?
Adam/Founder@IDEAS : To use the IDEAS platform, you will need to create an account by providing an email, a username, and a crypto wallet. Once you have created your account, you can choose to upload your personal data to your profile or keep it empty if you prefer to remain anonymous.The IDEAS platform is divided into two separate platforms: the Investment platform and the Recruitment platform. The Investment platform is responsible for all funding operations, while the Recruitment platform handles all recruitment-related activities.In the Investment platform, there are three types of projects. The borrowing project, the donation project, and the investment project. In the borrowing project: First, you create a project and choose its category, the amount of currency you want to borrow, the profit you are offering to the creditors, the repayment period (in months), and the guarantee payment you are providing for creditors. Once your project is published on the IDEAS platform, other users can send you crypto to participate in your project and earn the specified profit.However, as a project creator, you must fulfill your payment obligations to the creditors within the specified period. If you fail to do so, you will lose all previously paid payments, in addition to the guarantee payment. This provides a level of security to the creditors and ensures that the borrowing project is a fair and reliable platform for all users. The donation project: In a donation project, there are no profits or paybacks for the donors.To create a donation project, you need to upload your project data and information and specify how many milestones your project is divided into.Additionally, you need to specify the goals to be completed by the end of each milestone.The milestone feature allows the creator to divide their project into stages, ensuring that they do not receive all the funds in one go. The funds are vested, and the creator will receive them in stages based on the progress of the project. This division of the project helps create trust between the donors and the fundraiser (the creator).At the end of each milestone, the creator must provide data to prove the completion of the goals of that milestone. If the goals are completed, the donors can donate for the next stage. If not, they will not lose all their donated money, only a fraction that goes toward the first milestone. This way, donors can donate with confidence, knowing that their funds will be used towards achieving the goals of the project. The Investment project: The Investment Project is a unique blend of the Borrowing and Donation projects described earlier. It will also be divided into milestones, with investors receiving both payback and profit. A guarantee payment will be available to protect investors’ funds.Voting at the end of each milestone will be done by the investors, to decide if they want to proceed with the project to the next milestone, or stop it, based on the uploaded data and advancements done by the creator. This innovative solution will be managed by a decentralized smart contract, which will allow for complete transparency in all transactions. By leveraging the power of blockchain technology, all transactions can be tracked and verified, ensuring a high level of security and accountability.In keeping with our commitment to freedom and inclusivity, anyone can post a project on our platform without needing prior approval from IDEAS. However, to maintain a positive and respectful environment, violent or adult projects will be automatically filtered out.Please note that there will be a nominal fee for creating a project on the platform. The collected fees will be used to automatically buy back IDEAS tokens and burn them, thereby reducing the total supply of tokens and potentially increasing their value.
Aryan|TGH@TheGemHunterstg : How does IDEAS plan to attract and onboard entrepreneurs, investors, and skilled individuals to its platform?What are the key features of IDEAS that makes it different from other DAA platforms in the market?
Adam/Founder@IDEAS : Currently, our main focus is on completing the platform and implementing all of its features.Once the platform is fully operational, we plan to launch extensive marketing campaigns and seek partnerships with other projects to reach a wider audience. We already have some partnerships in progress.In addition to our core functions, we have created a “Donation Post” feature specifically for influencers, celebrities, and movements. This allows users to post text, pictures, or videos in a section of their profiles that can be accessed on a single page without requiring a login. Influencers can use this feature to receive crypto donations from their followers and can also promote our platform by sharing the donation post link on their channels or websites.As for how we differ from other Decentralized Autonomous Applications (DAAs), it’s worth noting that each DAA has its own unique functionality. For example, Uniswap and Pancakeswap are DAAs that allow users to buy and sell crypto assets. In comparison, the IDEAS platform offers a range of functionalities that are discussed and explained in more detail in the other questions above.
Aryan|TGH@TheGemHunterstg : What are the future plans and roadmap for IDEAS? How do you envision IDEAS evolving in the coming years and what opportunities do you see for entrepreneurs, investors, and skills in the platform’s ecosystem?
Adam/Founder@IDEAS : Our top priority right now is completing the IDEAS platform, which we’re fully focused on. Our current main focus is on finalizing the Investment Platform, followed by the Recruitment Platform, and eventually the development of a mobile application for easier access. Once we’ve finished these core features, we plan to explore the possibility of adding an NFT marketplace for projects. Given the increasing popularity of NFTs in the crypto space, we believe this could be an exciting addition to the platform. Our ultimate aim is to provide a streamlined and efficient process for entrepreneurs, investors, and skilled individuals to connect and collaborate while eliminating the typical redundancies, fees, and paperwork that have traditionally plagued the fundraising and recruitment processes. This will be made possible through the use of decentralized, trustless blockchain technology.
For more information on IDEAS refer to the links below :
💎Website : https://www.ideastoken.com/
💎Twitter : https://twitter.com/IDEAS_TheToken
💎Telegram : https://t.me/IDEAS_Token
💎Link Tree : https://linktr.ee/ideas_token