An AMA with the LavaX Operations Team about IDOs.
We have officially entered 2022 and that means more projects and IDOs on the horizon for LavaX and its community. We sat down with the LavaX Operations Team, to learn more about the IDO process, how they are evaluated, presented to the LavaX community and IDOs we can expect in 2022.
Question: What types of IDOs does LavaX look for to bring to the community?
Answer: When a project is presented to us, we look at many characteristics. The first question we ask is if the project is cutting-edge and can bring value, innovation and a good experience to our community. The project must enhance the existing ecosystem and provide unique opportunities to the community. Another important factor is passion and vision to ensure that the project is long-term and quality-driven.
Question: Explain to us the concept of DAO and how that will tie into the future of LavaX IDOs?
Answer: A DAO is a Decentralized Autonomous Organization. It allows members to decide the direction of the organization and elements within. Here at LavaX, our aim is to build a governance model that will ultimately decide everything the DAO does. Furthermore, our aim is to automate many functions within the platform to offer further utility. Our partnership with Kaizen Finance is a testament to this vision and the start of a great journey. This synergy will enable us to bring autonomy to LavaX.
Question: How important is it to bring quality IDOs to the LavaX community?
Answer: Extremely important. We want to create an ecosystem that will cross-pollinate with other leading brands and bring forward quality projects to our community. For us, networks are extremely important and we believe that each IDO should represent a world of its own, while also creating a partnership that will bring us value and growth. We are very grateful for our community and LavaX’s ecosystem and believe that we deserve the best opportunities. We will ensure each IDO brought to LavaX is strong and that the entire team is supportive of its potential.
Question: What types of IDOs do you think the community will see in 2022 that we didn’t see much of in 2021?
Answer: I believe we will see a lot more NFT, Gaming, PTE and Social Tokens in 2022. These are sectors that are taking off right now and there is a lot of curiosity and interest behind them. This year we will focus on community building, with higher attention on user experience. We know that this industry can have its ups and downs and appreciate everyone who has stuck by our side. A strong DAO concept is focusing on community and deciding which way the ship will sail together.
Community Question: Will Stakes be required to participate in IDOs?
Answer: Yes. What we would like to do is build on this aspect because we value community and we want to ensure that everyone who is helping us build this extraordinary ecosystem will have the opportunity to buy first — staking is the only way to do that.
Community Question: I wanted to know if we could implement an automated airdrop for IDO issued tokens so that the investor does not have to claim that manually?
Answer: We are looking to be flexible depending on the costs of each specific blockchain, but currently there is no intention to airdrop tokens.
Community Question: Any plans for future exchange listings? Such as Crypto.com or Binance?
Answer: As we grow, we will obviously be looking at different exchanges and additional opportunities for our traders. Right now we really want to focus on building liquidity on Kucoin and Pancake swap, but we will always be exploring alternatives.
Community Question: Can you explain the IDO process? It would be beneficial for holders who plan to be an active part of the DAO to be equipped with enough knowledge in this area for the purpose of adding quality to our growing ecosystem as a whole.
Answer: On a high level: We are introduced to projects in various ways. Some are referred to us, others contact us directly through word of mouth or are brought to the team within our own global network. After the project is presented, the team does their due diligence by submitting a questionnaire-like form in order to learn more about the project, its tokenomics, roadmap and value proposition. Following that, we have our team members and core partners review the project to ensure its viability, and most importantly something that we feel confident to present to the community. Aside from that, we appreciate our community’s voice. If there are projects that you would like to introduce to LavaX, we welcome all suggestions. Please contact our admins or fill out the submission form for the team to evaluate.
Community Question: What are the three main goals LavaX will focus on this year?
Answer: 1. Bringing quality IDOs 2. Providing utility to the ecosystem, and 3. Further build out our community through international and regional marketing campaigns.
Community Question: Will there be a change in tiers for big token holders?
Answer: Yes! We are looking forward to introducing our new tier systems in the coming weeks.
We hope you enjoyed our AMA with our Operations Team! Stay tuned for more AMA’s with the team to learn more about what goes on behind the scenes at LavaX.
Learn more about LavaX on our website.