On August 19th 2021, our community had a chance to welcome Mr. Adam Izzy – Co-Founder of Solminter to join in an AMA to give fruitful information about the key features and roadmap of Lithium Finance – a layer zero solution at the foundation of the SPL ecosystem.
This AMA was held by CryptoFamily Group – the top crypto community in Vietnam, where investors and traders can obtain the latest news and signals from bot/ admins, as well as discuss and share investment experiences in the crypto space.
At this AMA, our guest directly greeted the community and provided detailed information on Solminter as well as some key products and future plans.
Time: 09:00 PM (UTC + 7) on Saturday, August 19th , 2021
Airdrop 200 USDT for the best questions in the AMA.
Below are some main points of this AMA:
Question for Part 1- Project overview
Question 1:To kick off today’s AMA, please introduce briefly about your team and some key features of Solminter.
Mr. Adam: 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 allow 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!.
Thank you for having me here today! Hope to answer some good questions!
Some key features of Solminter would be: to be able to mint, customize, burn, lock, vest, withdraw, distribute your tokens on Solana, all in one platform! It takes 10 minutes to create a token as you’ll see in this video https://www.youtube.com/watch?v=Ms-LvzNZztQ
Question 2: Please share with us the roadmap of Solminter in the coming time.
Mr. Adam: Sure! Well the first thing we are focusing on is our IDO on the 23rd of August on Intersola.io, with a fully working product!
Q3 2021 :
– IDO on intersola.io and listing on Raydium
– App launch with initial functionalities : Token minting, distributing, locking, withdrawing, bulk sending
Q4 2021 :
– NFT minting functionality
Q1 2022 :
– ERC20 <> SPL bridge
That’s our roadmap for now!
Question 3: Could you please update the latest news or hot events to attract more users?
Mr. Adam: We’re launching on the 23rd of August, as the first IDO on Intersola.io. We will list $SMTR on Raydium after that, and we are the ONLY platform on Solana that provides our services, so there is no competition. We are launching with a very small market cap (only $338k), so there’s a lot of room for our token to grow for our early investors, and every time a user on our platform would like to do anything (mint, burn, customize etc) they will have to market buy and burn $SMTR tokens so that will create demand for us!!
Questions for Part 2 – Pre-collected questions from Twitter:
Question 1:Solminter is based on Solana, why did you choose to build on this blockchains instead of Binance Smart Chain or others with more versatility? Could you share more details of the products that will be developed on the Solana chain?
Mr. Adam: Such a good question, I’m sure a lot of people are wondering about this.
Well for those who don’t know, Solidity is a wide-spread coding language within the blockchain space, tech teams are already familiar with this language and projects can easily find Solidity experts.However, Rust, on which Solana decentralised applications are built, is not as common in the blockchain space, hence the need for Solminter.
That plus “Solana Season” coming, a lot of new projects are looking to build on Solana, Solminter accelerates the building time, and reduces costs for projects.
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.
Or, 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.
Even someone with zero tech and coding knowledge like me can create tokens easily!
Question 2: One of the most popular reason slowing down the adoption process of the platform is due to lack of proper partnership. Will your plans towards establishing more collaborative relationships with big partners?
Mr. Adam: Definitely! Our partnerships are growing with a lot of strong communities around the world, as well as platforms that will benefit from a partnership with us as well. So far we’ve built a strong partnership with Intersola.io, Raydium, Black Dragon, CSPDAO, multiple capital investor groups around the globe, and we’re in the midst of receiving a grant from Solana as well.
Also, I shouldn’t tell you too much about this yet, but we’re also talking to a major DEX right now 😉 Stay tuned!
Question 3: Solminter allows any project founder, in a matter of minutes, to choose an audited SPL token template and launch it successfully in Solana. But can only project founders download that SPL token template, or can the community user use this function as well?
Mr. Adam: Ah this person has done their research! Great question!
Community users can use this function as well! In fact, some developers who would like to create their own token templates can do so, and then other users can use that new template too! We will grow together with the community!
Question 4: “Project founders can choose between many functions to seamlessly apply new SPL token contracts to the Solana blockchain” So what are the advantages of generating SPL tokens for token founders over other networks? What security system does the SPL token use in Solminter?
Mr. Adam: To start, I’m sure we are all aware of the limitations of other networks (gas fees, anyone?). Solana is beginning the new wave of a new ecosystem, some people call it “Solana Season”, and we’re right smack in the middle of the action. With our platform, anyone who would like to be a part of the Solana ecosystem would come through us first, and that means users get to be a part of a new world in Crypto by being a part of Solminter. It’s like buying Bitcoin now versus buying it 5 years ago, Solana is now in its infancy stage!
In terms of security, it is of utmost importance to us and we are in the midst of being fully audited right now, and hope to release it publicly on our launch day!!
Question 5: What are the tokenmetrics details of $SMTR? How does $SMTR work as a utility token for the network and how does it benefit both the network and the owner in the long term. Is there any reward mechanism for holding the tokens?
Mr. Adam: So anyone who would like to use Solminter would have to market buy and burn $SMTR tokens every time they take any actions. Whether it’s customizing, burning, distributing, vesting etc! 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. Which means, $SMTR holders will double-benefit from holding $SMTR!
If you’d like to check out the tokenomics of $SMTR, you can see it all here https://solminter.com/img/SMRT_Token_Distribution.pdf
Like I’ve mentioned earlier, we’re starting with a super small market cap of only $338k, so early investors can benefit from holding $SMTR in the long run!
PART 3: BEST LIVE QUESTIONS CRYPTOFAMILY GROUP
Question 1: Southeast Asia is a very vibrant market and many many Projects developed overthere. So, What you think about Southeast Asia and Do you have any plan to develop in there?
Mr. Adam: We are currently based in Malaysia, so Southeast Asia is home, but we are targeting the entire world. We don’t have any specific plans for local marketing, as our app an be used worldwide, we will be accepting promising proejcts and users from all countries
Question 3: Covid-19 has a bad impact in almost every sector. So, as a crypto projects how did it affect you? How you and your team have done the work in the pandemic?
Mr. Adam: Covid-19 definitely impacted us in Malaysia as we couldn’t leave the house, but I believe it has affected our Solminter project positively! Why? Because we couldn’t do anything else, so we put in 100% of our time into building our project haha
Question 3: So many projects just like to speak about the “long term vision and mission” but what are your short terms objectives? What are you focusing right now?
Mr. Adam: Our short term objectives are to ensure our product works perfectly for our users, and then after that we will focus on NFTs!! I’m personally super excited about that, as the NFT world is very interesting and is blowing up right now too
Question 4: 𝐖𝐡𝐚𝐭 𝐚𝐫𝐞 𝐭𝐡𝐞 𝐢𝐦𝐩𝐨𝐫𝐭𝐚𝐧𝐭 𝐬𝐨𝐜𝐢𝐚𝐥 𝐦𝐞𝐝𝐢𝐚 𝐥𝐢𝐧𝐤𝐬 𝐭𝐨 𝐟𝐨𝐥𝐥𝐨𝐰 𝐚𝐧𝐧𝐨𝐮𝐧𝐜𝐞𝐦𝐞𝐧𝐭 𝐨𝐟 𝐲𝐨𝐮𝐫 𝐩𝐫𝐨𝐣𝐞𝐜𝐭𝐬?
Mr. Adam: For announcements, follow https://t.me/solminter_ann
Question 5: Do you need our help to Test your soon-to-be-launched Product? and How can we help?
Mr. Adam: That would be fantastic!! You can do so with these links https://dev.solminter.com/#/
– open on laptop/pc
– connect sollet/phantom wallet
– change wallet settings to use devnet network
Report bugs here: https://98a54lmwmqy.typeform.com/to/NH4F72Iu
For all of the questions that have not been answered yet, guys feel free to search for more information or ask directly to them on the links provided below: