Worthpad is a project that is making DeFi accessible to all, investors and developers alike. We reached out to the team and asked a few questions to get to know them better. Here’s how it went.
Q: Let us start by introducing Worthpad to our readers. Can you please give us a short overview of the platform?
A: Worthpad is an innovative, decentralized, multi-chain DeFi platform that makes investing in DeFi and crypto projects easy and accessible for the masses. Worthpad empowers high growth potential crypto projects with the ability to raise liquidity in a fair manner while also developing dedicated communities behind them. Worthpad brings the capabilities of traditional venture capital to $WORTH holders through its innovative use of the best technologies available in the DeFi space. Worthpad offers a professional and hassle-free fundraising environment for innovative projects and a safe investment ecosystem with the unlimited earning potential to $WORTH investors.
We want to enable retail investors to build wealth. We have been in the Venture Capital space for a long time. We’ve seen it time and again that venture capital investment opportunities have traditionally only been available to the wealthy and well-connected. A layman would never get an opportunity to invest in the seed round of a company like Facebook or Amazon if they were to launch today.
Similarly, only HNIs and well-connected people receive allocations for private/presales of brilliant crypto projects. Average retail investors are often excluded from participating in the early-stage funding of high-growth potential crypto startups, therefore missing out on the potentially unlimited growth opportunities.
Worthpad is an all-in-one platform that connects retail investors and innovators. Startups gain access to low-cost fundraising and a community eager to back their projects. For its community of investors, Worthpad offers early access to high-growth investment opportunities that they likely wouldn’t have had access to on their own.
Q: Tell us more about the different components of the Worthpad ecosystem
A: The Worthpad ecosystem is made up of six building blocks – $WORTH Token, Worth IDO Launchpad, Worth DVC Fund, Worth Smart Contract Foundry, Worth DEX, and Worth Insurance Treasury.
1. $WORTH is a reflection utility token that will act as the fuel for powering all the transactions in the Worthpad ecosystem. $WORTH automates liquidity acquisition for the Liquidity Pool and the Worth DVC Fund. This is funded by a 10% tax taken on each and every transaction. $WORTH will act as an infinite wealth generation machine for $WORTH holders.
2. Worth IDO Launchpad is a decentralized accelerator and incubation platform that connects early-stage innovators and projects with $WORTH investors. $WORTH holders will get early access and guaranteed allocation to seed rounds, presales and private sales of top-tier crypto projects incubated and accelerated on the Worth IDO Launchpad. Worth IDO Launchpad will distribute the tokens received from IDO projects that are incubated and accelerated on the Worthpad IDO Launchpad to investors who stake $WORTH. Worth IDO Launchpad will also collaborate with other launchpad platforms and invest funds in disruptive projects being listed on those platforms. These tokens will also be distributed to investors who stake $WORTH tokens.
3. Worth DVC Fund provides an opportunity to everyday people to safely grow their own capital. It brings the capabilities of traditional venture capital to $WORTH holders. Worth DVC Fund will use the pooled reflection fee to invest in IDO projects selected for incubation and acceleration on the Worthpad platform. Worth DVC Fund will make all the investments through the Worth IDO Launchpad.
4. Worth Smart Contract Foundry is the heart of the Worthpad ecosystem. It will enable secure, audited, quick and easy deployment of smart contracts configured from a drag and drop interface. The code used for developing foundry smart contracts will be open source, battle-tested and audited to ensure no exploits can be used by malicious actors to steal the investor funds.
5. Worth DEX is a next-generation decentralized exchange being built on the Ethereum and Binance blockchains. It is designed to deliver all the advantages of a distributed platform, plus a user-friendly interface and liquidity that’s comparable to centralized exchanges. Worth DEX is also building a DEX aggregator to give traders the best-adjusted price, a simple way to buy and sell assets at the best price possible across all DEX liquidity sources.
6. Worth Insurance Treasury is the most critical risk management feature of the entire Worthpad ecosystem. Each project that uses Worth IDO Launchpad to raise capital is required to buy $WORTH and lock it away into the Worth Insurance Treasury until the project is complete. Consider it like a safety deposit that the projects incubated and accelerated on the Worth IDO Launchpad will get off the ground. Once the project is complete, the funds are released, and the project team is reimbursed. It acts as a safeguard to protect investors against the risk of a project failing.
Q: Can you give us some insight into the team behind Worthpad?
A: Worthpad’s management team comprises professionals from finance and technology industries with a cumulative experience of over 80 years. Our team members have worked for some of the biggest and most innovative technology companies, investment funds and hedge funds in the world. The Worthpad team members have chosen to keep their identities anonymous.
Q: How is the Worthpad launchpad different from other DeFi launchpads in the market?
A: Worth IDO Launchpad is unlike any other launchpad in the market. Worthpad gives investors the opportunity of a lifetime. There is no tiers/VIP access that favors the people with tons of money. Investors will be able to passively earn tokens of extraordinary projects incubated and accelerated on the Worth IDO Launchpad till they keep staking $WORTH tokens. This is a lifelong passive income stream without making any further investment. This is a truly revolutionary concept. Investors need not keep buying tokens of every project. They can do that if they choose. But if they just stake $WORTH tokens, they will automatically get tokens of all the projects that are incubated and accelerated by the Worth IDO Launchpad till they keep staking $WORTH tokens.
They can also choose to become active investors by buying tokens of projects that they like on the Worth IDO Launchpad. Active investors who stake $WORTH tokens will get early access and guaranteed allocation to seed rounds, presales and private sales of high growth potential projects incubated and accelerated on the Worth IDO Launchpad. They will get these tokens at a discounted price. Whereas investors who don’t stake $WORTH tokens will get tokens at a regular price.
We are building many innovative features like Worth DEX, Worth Smart Contract Foundry and Worth Insurance Treasury that set us apart from our competitors.
Q: How does the Worth DVC fund work? How can one seek investment to become an investor in it
A: Worth DVC Fund is a retail investor’s personal VC Fund. It will do all the heavy lifting for retail investors. Investors will enjoy the benefits of a professionally run VC fund by passively investing in $WORTH tokens. An investor can become a beneficiary of the Worth DVC Fund by buying and staking $WORTH tokens. Worth DVC Fund gets 50% of the tax fee that is applied on each $WORTH transaction. Worth DVC Fund invests these funds in exceptional crypto projects identified by Worth Incubator and Worth Accelerator. The project tokens that Worth DVC Fund receives in lieu of the investment capital are distributed to investors who stake $WORTH tokens.
Other DeFi Launchpads have a tier system for different categories of users that is based only on the basis of the size of funds of an investor. We are trying to build a fair system that rewards long-term investors. Our algorithm calculates the investor’s stake on the basis of the product of staking time and staking volume of $WORTH tokens. The time for which $WORTH tokens have been staked has a higher weight for calculating the stake. Investors do not have to stake $WORTH tokens for individual projects.
Q: What are the minimum requirements to participate in the incubation and accelerator programs?
A: We will be identifying the best opportunities and outstanding projects and incubate/accelerate them. Our goal is to fund crypto companies that are working on the future of everything from finance and insurance to healthcare and transportation. Investors will get investment exposure to the best crypto companies through the Worth IDO Launchpad.
The Worth Incubator is specifically tailored to meet the needs of innovative projects and ideas that are currently in the conceptual phase. The Worthpad team will work closely with Incubator projects to provide expertise and advice on a variety of things including marketing, tokenomics, audits, and more. The Worth Incubator team’s end goal is to assist in the creation of a minimal viable product (MVP) that can be used to test the market and then move onto the next phase. The Worth Incubator provides a considerable amount of support for new startups, as well as provides an opportunity to build a community around the project. Once the MVP is finalized, the project can move onto the next stage with confidence and solid backing.
The Worth Accelerator is designed for the accelerated growth of exceptional crypto startups. In this program, we fund startups that have a working MVP and are looking to grow and scale with additional capital. Worthpad continues to offer support through mentors and advisors. These mentors will ensure strategies for accelerating customer acquisition, product development, and logistics, are well thought out and the startup is set up for success.
Q: Your website states something about Worth Insurance Treasury. Please let us know how it works.
A: Retails investors’ participation in individual IDOs is a very high-risk endeavour. Retail investors have very limited knowledge of technology and investment risk management. They have no framework to hold project owners accountable for rug-pulls, scams or negligence after fundraise.
We have come up with Worth Insurance Treasury to solve these problems faced by retail investors. Each project that launches through our platform will contribute to Worth Insurance Treasury, providing investors in our community a sense of financial protection against potential project failure.
Each project that uses Worth IDO Launchpad to raise capital will have to buy and lock $WORTH in the Insurance Treasury. Once all milestones defined by project team are met, funds will be unlocked from the treasury and reimbursed to the project team. $WORTH tokens held in Worth Insurance Treasury will continue to accrue IDO tokens and this will act as the second layer of protection for $WORTH investors.
Worth Insurance Treasury intends to spin-off a multi-chain DeFi insurance aggregator with the main objective of simplifying the sale/purchase of DeFi insurance to investors. We will partner with decentralized exchanges (DEXs), wallet providers, yield farms, and other DeFi-centric investment pools to streamline the comparison and purchase of the most suitable DeFi insurance plans as per the investor’s needs.
Q: The Smart Contracts Foundry seems interesting. What are the different blockchain protocols that are currently supported on Worth? Also, briefly explain the security aspects of the smart contracts generated using this method.
A: Worth Smart Contract Foundry is an innovative solution for two very huge problems faced by everyone in the DeFi world:
1. Vulnerability of Smart Contracts
2. Scams and Liquidity Drain
Worth Smart Contract Foundry is the heart of the Worthpad ecosystem. It will enable secure, audited, quick and easy deployment of token launch smart contracts configured from a drag and drop interface. Worth Smart Contract Foundry will create a collection of out-of-the-box smart contracts for non-technical founders to choose over more traditional and code-oriented methods of token launching.
Worth Smart Contract Foundry has a drag and drop interface that will allow anyone to launch an idea and build a community around the project without having to worry about the technical aspects of the smart contract configuration. Users will be able to select and customize their token launch through a drag and drop interface — including initial offering, vault, and farm options. The code used for developing foundry smart contracts will be open source, battle-tested and audited to ensure no exploits can be used by malicious actors to steal the investor funds.
The projects created on the Worthpad platform will be safe from rug pulls and scams. Funds raised by IDOs will be locked in liquidity pools through smart contracts and project teams will not be able to drain liquidity from the liquidity pools. Worth SCF smart contracts will be designed to safeguard LPs from popular exploits such as flash loan attacks and oracle price manipulation attacks.
We intend to support Binance Smart Chain, Ethereum, Polkadot, Cardano, Polygon, Solana, Tron, Near, Avalanche and Kusama blockchain networks by Q3 2023. We will keep adding support for more blockchain networks.
Q: Tell us more about $WORTH tokens and about the “Infinite Wealth Generation” potential mentioned on the project webpage.
A: $WORTH is a reflection token. There’s a 5% tax on each transaction. 50% of the tax goes to the Liquidity Pool and 50% goes to the Worth DVC Fund. Each transaction makes the $WORTH token more valuable. Each transaction adds the tax to the liquidity pool of the token, thus increasing the overall liquidity. As $WORTH LP increases, the price stability mirrors this function with the benefit of a solid price floor and cushion for holders. This is different from the burn function of other reflection tokens which is only beneficial in the short term due to reduction of the total token supply.
Worth DVC Fund is the lead investor that invests capital in the projects identified by Worth IDO Launchpad for incubation and acceleration. Worth DVC Fund gets project tokens in lieu of investment capital. These project tokens are distributed to investors who stake $WORTH tokens after deducting the performance fee of Worth DVC Fund. Please take a minute to reflect on the last statement. Investors staking $WORTH tokens get tokens of all the projects being incubated on the Worth IDO Launchpad. That’s passive income for life by investing once in $WORTH tokens. Investors will keep getting tokens till they keep staking $WORTH tokens in a proportion to their stake.
Q: Where does the project stand at present? what are the future developments we can expect?
A: There’s a lot going on at Worthpad. We have built an awesome community around the project. Worth IDO Launchpad MVP has been deployed in a test environment and rigorous testing is going on at the moment. Our dev team is working on the development of the Worth Smart Contract Foundry.
We have also shared a detailed roadmap on the Worthpad website.
Q: Are you exploring or planning to forge partnerships with other projects or entities? If yes, what role do they play in the ecosystem and how many partners have come on board so far?
A: We are not looking for money at the moment. Our presale whitelist is oversubscribed by over 5 times.
We want to build an open community that respects and celebrates good work being done in the crypto industry. We don’t want to build an isolated island where we are competing with other communities. We want to partner with the ecosystem players. We want to build a bridge that connects different projects’ communities and helps their community members build wealth. We are in talks with multiple IDO launchpads to build a launchpad alliance. We are also in talks with multiple Blockchain teams to support them for cross-chain swaps and multichain IDO capabilities in the Worthpad platform.
We are looking for strategic partners. We want to partner with strong communities and projects that can help us amplify and spread our message.
Q: Anything else you would like to add?
We are putting our heart and soul into building the Worthpad platform. We are in talks with multiple IDO launchpads to build a launchpad alliance. We are also in talks with multiple Blockchain teams to support them for cross-chain swaps and multi-chain IDO capabilities in the Worthpad platform. This platform is meant for retail investors to build wealth in an equitable and fair manner. We are looking for community members who are passionate about building wealth and align with our vision to build an ecosystem that provides resources including investment capital to the most innovative crypto projects and help retail investors invest in such projects. This is an opportunity of a lifetime. Join us and help us build the Worthpad platform.