- Polka Ventures 07.04.2021 AMA with Patrick S. Dine and Nils Tharandt Ortiz -
1. Why should one buy & hold POLVEN token? What is the incentive for POLVEN holders?
>> Well, there are several advantages of holding or buying POLVEN:
First, you can vote and take part in the investment decision of Polka Ventures into which projects we should invest. All staked tokens can vote through the governance token. The governance token will be implemented in Q2 2021, our team is already working on that.
Second, you can get rewards by staking or yield farming. The POLVEN staking is either fixed for 6 months or the holder can set himself the staking period.
2. What are the social media activities planned to increase visibility of POLVEN token?
>> We are signing up with several influencers who worked with us during the IDO campaign. We will publish the list shortly.
3. The project was heavily marketed before release. After the release, it seems there has been minimal marketing or attention given to the project. What are you going to do to keep current and future investors interested in the project?
>> After the very intensive (and sleepless) IDO campaign, we now focus on finishing the technical features:
The integration of the Sybil governance token platform
The staking and yield farming feature
Beyond that, we will start investing into projects already from this week on.
4. Will you create some kind of advantage for POLVEN holders to get access to the projects you are going to invest in, like the future IDO’s and such? (Like PAID network, which requires holding a min 1000 PAID, to get access to ido’s listed over their platform).
>> Well, PAID is rather a launchpad/crowdfunding platform. Polka Ventures is a fund investing into projects through those platforms.
Said that, we want to develop a community based “certified project” label for projects that were screened by our community because there are too many scammers in this market unfortunately.
5. How many IDOs will be each month?
>> I think you mean in how many projects we will invest? We will invest into appr. 3 projects a month
6. How is the team vetting projects to ensure they attract high profile projects?
>> First of all, it is interactive. The projects are submitted by the community through our web site. Then our fund managers and advisors are screening them and involve the community to check if the project is viable.
7. On the website you quoted a partnership with Polkastarter. Can you explain what type of partnership or collaboration?
>> We applied of doing a part of our IDO through Polkastarter. Unfortunately, the waiting queue is very long and we didn’t make it on time yet. A part of that, we want to become a prime partner of Polkastarter in order to invest frequently into the projects that create pools/auctions on their platform.
8. Are you planning a second token private sale on polkastarter?
>> If the market conditions are favorable yes.
9. What’s the first capitalization target you want to arise?
>> We want to target a x8 after 1 year.
10. What Projects have been shortlisted by Polka Ventures Team for upcoming investments? How can POLVEN holders invest in the same?
>> We are studying the following projects and would like to have also feedback from our community:
- Cere Network
11. How will the allocations from each IDO’s raise be divided among the tier pools?
>> The current proceeds from our IDO are invested according to our distribution of proceeds.
12. Who are your competitors?
>> Honestly, we are the first fund involving the community through a governance token. There are several VCs like Astronauts, Pantera or Catena Capital to name some of them. Than to a certain extend GAINS and DAO Ventures, but they have a different approach. Polka Ventures is somehow unique yet.
13. Any plans to create a launchpad to onboard projects, similar to other IDO platforms?
>> Let’s see how our “Certified project” will work. If there is adopt we could develop more.
14. There have been a number of highly successful launchpad coins created during the last few months. How does Polka Ventures seek to differentiate itself from and compete with coins that offer holders direct access to lucrative seed rounds and presales of new, exciting projects?
>> Those are launchpads, but Polka Ventures is a fund so our business model is different.
15. Given the level of growth in altcoins during this bullrun, I think some investors are skeptical of investing in a staking token (even at a 16% apy) that invests “for us” indirectly when we could just be investing in alts themselves and making greater returns. Will there be any other benefits for token holders to increase our returns, such as investments in presales or seed rounds, partnerships, etc.?
>> In times of bullrun, 16% APY might seem to be little. After years into crypto, we can witness that there are also bearish valleys we have been through. 16% + is the starting point. So better the fund will perform, so more interest you get.
The institutional investors coming in with the Warhol and Rauschenberg fund have to commit a certain level of their investment by buying POLVEN on the market. That will give you as a holder a nice ROI.
16. What are the social media activities planned to increase visibility of POLVEN token?
>> Every investment will be accompanied by cross project marketing activities. Polka Ventures will announce it through its channels, the project will announce it through its own channels.
17. Can you tell us if polka venture platform will adopt IDO system as an incubator for new project and when u suppose to have the first one?
>> No, we don’t believe in incubators. 20 years ago, I rent my first office in a building of what was an incubator. Most projects failed. As an entrepreneur, you have to be able to fly from day 1, otherwise you will fail.
18. Can you describe the upcoming staking feature more detailed?
>> Our system is designed to provide service for the users to stake specifically created for that purpose tokens to get an interest that will depend on the percent set by Polka Ventures.
Our interest logic for staking is going to be implemented using Compound logic that is designed to make the reward distribution process fair for the system users. The main idea of the Compound logic is to make a full time and rate dependent calculation of the reward amount.
We will offer 2 types of staking at attractive rates:
Minimum of 6 months locked staking
Staking with no fixed duration — the duration is set by the user himself
Our initial staking rate will be appr. 16%+
Polka Ventures will also offer yield farming. You can gain high interest rates and generate passive income by providing liquidity.
Staking and yield farming will be launched end of Q2 2021.
19. is their any announcement of project this month??
>> Yes, within the next 4 days we will make an investment.
20. Do you have new Investors for Polven?
>> Yes, there are more institutional investors lining up.
But why not adding a Launchpad function so we all can take part of those sales?
Yes, we will look at this possibility once we launched our “certified project” label.
So how exactly does the success of Polka Ventures investments bring me success as a holder. How do the gains get distributed back to the holders.
Maybe I missed it but that wasn’t very clear.
With good performances and a high ROI, the token price will grow automatically because the fund will grow constantly in terms of volume. Second, we increase the staking rate so more the fund is performing. The POLVEN is an utility token. Unfortunately, we can not pay a dividend because in this case our token would be considered as a security token and trigger many legal requirements.
21. when is cex?
>> CEX listing is planned at latest this summer
22. So with each successful investment the staking rate will increase?
>> This is correct.
Perhaps we could address also what the issue was with pool 3. A response from the team here said it was to curb scammers but from what I saw, it was just undersold
We decided not to launch the 3rd pool because there were approx. 30 scam pools on Bounce and we assessed that already ETH 200 were lost by scammers.
23. When will you start onboarding institutional investors?
>> The Warhol fund is scheduled for Q3 2021
24. Is it in the interest of the coin to be listed major exchanges?
>> Yes, listing our token on a CEX will give POLVEN higher visibility and liquidity.
25. If scammer issue was known before launch why was there no plan to avoid -50% loss?
>> There was an unfortunate event:
The very moment we uploaded the first pool on Bounce the platform collapsed.
That was out of our control.
The sales then started 1 hour 20 minutes later and that was crucial because it gave time to scammers which they normally would not have had.
26. Why is epan gaining more power than Polven? Yet before polven was launched epan was almost on the floor?
>> Token price consolidation started by mid of March when Paypolitan successfully did its beta testing and now the app release in the stores is imminent.
27. I don’t want to sound like I am skeptical. I really do believe the project is a great idea and have no doubt Polka Ventures will invest and make a ton of money. My only concern at this point is technically the only value of my POLVEN comes from me selling it to someone for more money simply due to the success of Polka Ventures as a company.
I feel like it’s a stock in a company without dividends. Like buying Amazon stock just for the name associated with the success without getting a cut of the profit. Please correct me if I’m wrong.
>> Very good remark! Unfortunately, tokens are not like stocks. Every token is subject to high volatility and there is no visibility you might have for stocks. Said that we will do our best to create a solid token price.
28. As an early investor, it feels like the company is saying nothing could have been done about the scammers, the mess with pool 3. No real tangible admission of a mistake or apology.
>> It was a management decision:
1.Given the strong results of private sales our overall funding goal was already met after we closed pool 2.
2. We didn’t want to delay listing on Uniswap because there was a valid expectation from the token holders with starting of trading.
29. If there was a burn feature (deflamatory) this issue would be very simple
>> Burning tokens is senseless because we also invets into projects with POLVEN. Burning POLVEN would decrease our ability to invest and also affect the value creation of Polka Ventures.
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