CryptoFury Community x Solminter
⏰ Time: Aug 21th , 2:00 PM UTC
💰 Giveway : 200$
💎 Place : @CryptoFuryCMs
Solminter is a layer zero solution, sitting at the foundation of the SPL ecosystem
Question for Part 1- Project overview :
Question 1: Could you please introduce yourself and Solminter ?
Adam Izzy :Hello everybody! Adam here, the CEO of Solminter
I was an early adopter of Crypto and I firmly believe that the capabilities of blockchain is the future
Something I’ve always tried to do is to be part of projects that allows the community to grow together, and one of the biggest issues I had was that I have no background in tech
Which is why I’m so excited about Solminter, because it allows everyone the ability to participate in the ecosystem with as little hassle as possible
Some people have been confused about my background, as I come from advertising and music production, but I think that’s just the beauty of Crypto, everyone can be a part of it!
With my tech co-founder and 7 full-time team members, we’ll be bringing Solminter to life on the 23rd of August! For now, you can try out the Beta version of the app, by using the Solana devnet, at https://dev.solminter.com/#/
Question 2: Could you please introduce yourself and Solminter ?
Adam Izzy :The name Solminter is because we are on Solana (SOL) and we make minting tokens easy (MINTER) 😂
To give an overview of the technology behind Solminter, imagine if a founder wanted to create a project on Solana
They would have to hire a team of RUST developers, pay them salary for 6–9 months, hope they don’t make any human errors, then get themselves audited to hopefully launch on an IDO platform
They can come onto Solminter, and within 10 minutes, they can create their token using templates and because everything created on Solminter is audited, they can launch on Intersolana straight away
If you watch the YouTube video where I explain how easy it is to create or customize your tokens, you’ll realise what I mean! https://www.youtube.com/watch?v=Ms-LvzNZztQ
Please excuse my super long hair. We’re still in lockdown here in Malaysia haha
Question 3: Users often care less about technology, but rather the value of the token. How do you manage to strike a balance between developing the technology and also improving the value of the token?
Adam Izzy :Our token, $SMTR, has a deflationary supply. When project founders mint new SPL tokens and use Solminter functionalities (customize, burn, withdraw, distribute etc), they will need to spend SOL, then market-buy and burn SMTR
Also, down the road, SMTR holders will receive a small % of the supply of each SPL token minted through Solminter. The % will be split proportionally between SMTR token holders
So SMTR holders will double-benefit from holding SMTR! 😁
Also, we’re starting with a very low market cap of only $338k, so there’s a lot of room to grow in terms of tokenomics!
Question for Part 2: Pre-selected questions from our community :
Question 1: I understand that despite containing the best technology in Minting Token and security, they also have various risks, such as Impermanent Loss (IL), but does Solminter really have any plan to correct these risks? Or really those risks will only depend on the use of the users?
Adam Izzy :Usually for tech questions, I will pass it on to my CTO because I have no tech background, but he can’t make it today
However, I will say that security and managing risks is of utmost importance to us, and our audit is currently underway and we plan to release it publicly on our launch day itself!
It’s definitely a priority for us to make sure our users face minimal risks of all types.
Question 2: Does Solana help projects minting tokens on Solminter get the best liquidity? Many projects generate tokens, but there is no liquidity, which leads to project failure. Will Solminter have a solution for projects to optimize liquidity for each minted token?
Adam Izzy :One of Solminter’s features is that we make liquidity automated, so it’s less work for project founders and maximises efficiency! This is definitely an issue that we’ve been working on fixing and I think if you test out our platform you’ll see what I mean!
- open on laptop/pc
- connect sollet/phantom wallet
- change wallet settings to use devnet network
Question 3: It is important that a token needs liquidity. How does Solminter plan to give every single project on its platform access to liquidity farming, and what will be the relevance of this liquidity farming to projects minting tokens on your platform?
Adam Izzy :Solminter has no liquidity farming. As I’ve mentioned, however, Solminter has a feature that automates liquidity for the project founders. To add on to that, as Solminter token templates are fully audited and trusted by Intersola, founders who create tokens on Solminter immediately have access to launch their IDO on Intersola!
Some may worry about the token templates being limited, but don’t worry we will be providing 3 templates in the beginning (Governance model, Reflect token model and Safemoon token model) but later on, the community can input their own templates and then other users can use those new templates!
Once we launch! We’re launching on Intersola on the 23rd of August, and then 24 hours later we’ll be listed on Raydium 😁
Question 4: How will Solminter Launchpad Platform make sure that the future IDO’s are safe form bots attacking the system and holding a large portion of allocations? Can you explain what mechanism is implemented by Solminter to prevent Bot attacks and ensure that IDO’s are conducted fairly?
Adam Izzy :First of all, Solminter is not a launchpad. We help you mint tokens in minutes, but you will have to launch your tokens elsewhere (Intersola has a partnership and will give access to tokens minted on Solminter). Therefore, we don’t have the risk of bots attacking the system that IDO platforms face!
Solminter’s tokens are called $SMTR, and there are many benefits of holding $SMTR tokens!
Question 5: Many people still don’t have much idea of how NFTs work and how to acquire them, is #Solminter beginner-friendly in the world of NFTs? Do we have to have advanced knowledge or #Solminter intuitive enough for inexperienced users?
Adam Izzy :You DO NOT need any tech or advanced knowledge when minting with Solminter!! I’ve mentioned a few times that I personally have zero tech or coding knowledge, and as I’ve shown in the YouTube video of me minting and customizing tokens, if I can do it, anybody can!
Just to share our next focus, NFT minting will be our main priority for Q4 of 2021 😉 So stay tuned!!
Question for Part 3: Guests will choose 5 live questions from members and answer directly in CryptoFury Community
Question 1: What major problem your project will solve in the blockchain industry and what are your best features against competitors?
Adam Izzy :We will solve the problem of project founders needing Tech Co-founders or a tech team, so that ideas can come to life in a matter of minutes instead of months. Our best feature against competitors: We have no competitors!! We are the only platform on Solana that provides our services!! 😁
Question 2: What are the milestones on your roadmap? What have you achieved and what can we expect? Any short/long term technical milestones that you would like to mention or get attention?
Adam Izzy :Our first goal is to launch with a fully working product on the 23rd of August, then after that focus on NFT minting in Q4 and after that a portal to bridge ERC20 tokens over to the SPL ecosystem!
Question 3: I have seen that you have done many AMAs, my question is, what do you expect to get from so many AMAs and what are your goals with the community? Do you consider the community to be a fundamental role in the project?
Adam Izzy :Definitely! AMA’s are just our way of answering the people’s concerns and questions about our project, and to clearly explain what we do so that more people can understand our platform. The community is everything to us, we plan to fully grow alongside the community, instead of profiting from them!
Question 4: What are the benefits of holding your token as long term investment? Can you tell us about the motivation and benefits for investors to keep the your token in the long run??
Adam Izzy :Small starting market cap, great utility, sexy tokenomics, deflationary supply, and later on even a feature where a % of all new tokens minted on Solminter will be shared among all $SMTR holders. What’s not to like! 😁
Question 4: How do you plan to spread awareness about your project in different countries where English is not good? Do you plan to develop many different communities such as Vietnam, Indonesia, Korea, … about your project so that they can easily communicate and understand your project?
Adam Izzy :Yes 100%!! We have strong ties to communities from Japan to Indonesia to America!! Regardless of whether the community speaks English, we have managed to share this project and how it works to people across the globe, and so far, we haven’t found a single community that isn’t excited for Solminter!! 😁