Waggle AMA
Welcome Peterson! Thanks for making time let's get started with the AMA as well as the meme contest winners at the end of the AMA
Alright! To start: Can you tell us a bit more Waggle Network and the team
Waggle is a permissionless marketplace built for multi-chain token pools and auctions, enabling projects to raise capital post-IDO on a decentralized environment based on Solana.
Waggle curates a public-facing marketplace interface which facilitates locked tokens trading activities. With Waggle, decentralized projects will be able to raise capital from their community, and users will be able to participate in community fundraising rounds in a secure and compliant environment and access opportunities previously only available to institutional players.
Waggle seeks to build a future that is decentralized, efficient, and empowering.
We are founded by industry leaders who have gathered lots of experience in the crypto space. They have advised many projects and are very well-connected in Solana, ERC, BSC, Polygon, and other ecosystem out there!
This is so interesting! You guys enable community members to buy their favourite project tokens at a cheaper price - I know there's a governance feature that let community vote the projects to be on but i'll ask that later hahah!
Why did Waggle choose Solanium as a launchpad?
yeah, we are bringing deals to Waggle token holders previously inaccessible to our community 👍
As we know Solanium is one of the most popular IDO platforms on Solana which has a fantastic team and community. There is a wide market of users and a highly reputed community on Solanium who will be avid supporters of our project, this is why we prioritize Solanium as our first choice launchpad. 👍
Our Solanium community is definitely very excited to have you guys onboard with us as well!
Understand that Waggle Native token is on SPL - Why did Waggle choose to build on Solana, ERC20 and BSC at present?
Our selling point is our multi-chain narrative. We chose these three ecosystems to start with because of the vast network of our founders in these spaces. Going forward, we will expand into further chains to provide our services in a chain-agnostic manner.
That being said, we also considered the technical advantage of launching our platform on Solana. High throughput & low latency, low gas fees for the users and developers, and the cohesion within the Solana communities are top three reasons why we chose to go with Solana.
The Waggle (WAG) token is the utility token for the Waggle Market Platform and accrues value via:
1) Long-term holding incentives - holders who lock the token will receive % of platform fees
2) Token holders will be provided tiered participation opportunities for fundraising rounds conducted on Waggle Market
3) WAG token holders can participate in project evaluation & votes to decide which projects on Waggle Market will be featured
In short, WAG token qualifies the user for fee distribution, voting rights and exclusive fundraising round access.
3) will be very interesting for the community! It's nice to see that you guys are building this for the community and empowering them with exposure they dont normally get!
So taking a step back: Is there any competitor in the market and who do you consider as main competitors?
Definitely, we have seen similar projects in the space.
However, they are often limited to one chain only and usually built on Ethereum which will cost their users a lot to interact with the services provided on the platform.
Moreover, being focused on one chain limits their collaborations with projects - they are simply restricted to working with projects within that ecosystem. At Waggle, having multi-chains to source deals for our community is one of our UVP as well!
I really like the multi-chain future narrative you guys have
I think this is something our community is definitely interested about!
yeah - some of these protocols go for cross chain approach, exposing them to security risks as well. We rather develop a platform that is fluid and can provide a plug-and-play model, accustoming to each of the chains we decide to expand to.
Waggle started the development phase in Q3 2021 and has since assembled a team of 10 developers to date with an average of 5 years of blockchain development experience. The team members have designed, architected, and developed several complex solutions on Ethereum and Binance Smart Chain (BSC) in the past and have laid out a detailed development plan for Waggle. The following timeline summarizes other deliverable and milestone plan:
Completion of Waggle Market and Waggle Dashboard
Seed Fundraising and Airdrop Event
Token Staking Initiative Launch
Implementation on BSC, Ethereum, and Solana
Implement on-chain trading of rights to vesting tokens among Waggle token holders <— This is an interesting concept which we will let our community trade the rights to vesting tokens that have listed on our platform
Implement Liquidity Mining programmes for tokens listed on Waggle Market
Implement Waggle Vault and Strategy Toolkit to help users design and implement yield strategies
As you can see, 2022 is an exciting year which we will see leaps and bounds in our product offering. 😎
On-chain trading rights to vested tokens bought off Waggle - hahah essentially creating a secondary market out of primary market that is interesting
In terms of scaling: What are the types of project partnerships you are looking for to scale Waggle?
Definitely partnerships with existing projects in the market. We are always hunting for deals to pass to our community. If you guys have any projects looking to raise further rounds of fund from their community, we are here to provide a decentralised and fair solution for them! They don't have to look elsewhere for OTC deals which might expose to them unfavourable sales terms.
We can help them unlock liquidity to further their innovation safely.
Hopefully we can see solanium projects partnering up with you guys down the road!
On to the final question before we open up to the community: How do you plan to bring in mass adoption so users can start using your platform?
You will start to see us appearing on the news e.g. https://news.yahoo.com/waggle-network-successfully-raises-3-085400432.html
This is meant to create organic reach to the mass, and we will see adoption flowing in.
Now here's the deal - when we raise for the project, we inherently tap into their community as well. Our community will grow in a compounding manner as we work with more and more communities down the route.
This is very elaborate! Our Solanium community is definitely excited to see the Waggle family grow!
My question, when will you provide this curated opportunity to retail investors? What are the requirements for retail investors to be able to access and purchase previously inaccessible private tokens? How long can retail investors continue to invest with the WAGGLE project before gaining access to this opportunity?
You have to stake WAG tokens. We have tiered participation opportunities offered to our token stakers. We will periodically adjust the required tokens to be staked according to the valuation of our project!
Currently, we have four tiers:
Drone Bee and Queen Bee will offer guaranteed allocations.
Going forward, we will have a documentation page to explain this in detail.
What is Waggle's vesting process for Project teams which come on Waggle to offer their post-IDO token sales? How do you ensure they are trustworthy top-tier projects to ensure safety of community fund and integrity of your platform?
We just projects based on several metrics:
Community can evaluate projects based on the 9 metrics on our Waggle Rubrics
Background and crypto experience of founders.
2. Technical Breakthrough: How revolutionary and practical is the idea i.e. is there a product-market fit?
3. Market Making: Who are the market makers? On CEX, DEX or both?
Community Strength (Discord, Telegram, Twitter)
Regional Exposure (eg.APAC, Oceania, EU, etc.)
5. Tokenomics: Are the tokenomics designed to be value creating and retaining for the protocol?
6. Investors & Advisors: What are the profiles of the investors? Are the backers known to be value-adding?
Token Utility - are there strong incentives to utilise the tokens?
Project Roadmap - are they realistic and progressive?
Partnerships (With other projects, VCs, Exchanges)
Reputation in the space - any poor records or red flags?
Are the distributed tokens connected to their address?
All token holders will have the power to elect projects to be featured on Waggle Market. This sets up multi-layer of due diligence for our deals and ensure the quality of the projects we work with.
I'm curious about the name Waggle and the theme of bees of your project. What's the meaning behind the name Waggle? What do the bees have to do with Waggle? And why does this theme represent your project?
Thank you for this interesting question!
Waggle is the dance bees do during pollination. Just like pollination, we will be the bees that will bring deals (honey) from flowers (projects) to the hive (community). This act of Waggling inspired our creators and therefore became the theme of our project.
We will work as hard as bees to bring the honey to our Waggle community. 💪
Thank you for the detailed answers @pattypus !
Thank you everyone for the crazy creative and wonderful memes, there’s more submissions this time and every single one of them is so great!! ❤️
We are going to announce the 3 Meme challenge winners!
1. https://twitter.com/jiuzhu80/status/1443153354562187266?s=09
2. https://twitter.com/long520131420/status/1443506719435284482?s=21
3. https://twitter.com/p0isonxs/status/1443143816303702027?s=21
Winning Memes - Winners please contact our CMO @jonren with a screenshot of your twitter profile! Winners PM only scammers will be banned.
Thank you so much Solaniums for making time for this AMA, let’s keep this Solanium Summer Hot!
If you have not whitelisted for Waggle Network do Join here:
https://www.solanium.io/project/waggle-network/
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Twitter: https://twitter.com/wagglenetwork
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