‘95% of the people are bounty hunters’ – Sharif Karmo, CEO Polkapad / Interview to Signum Capital

Founded in 2017, Signum Capital is a group of crypto enthusiasts with complementary backgrounds and interdisciplinary perspectives, believing that the crypto natives are the engine of innovation, and what they build will spillover to the mainstream via cross-pollination with other domains. This is an approach we share here in Polkapad, making crypto community our priority and goal.

Polkapad CEO Sharif Karmo gave a voluminous interview to the Signum Capital audience, and we are sharing a small part of it in our blog!

Melvin: I think the industry is moving towards the direction of the concept of Soul Bound Tokens about the online reputation and your activities online towards a project.

We are not really focused on social activities of the people because here 95% of the people are bounty hunters, they’re not bringing any value, they just come to discord or telegram trying to make some activities short term till there is some incentivisation program. And as soon as they receive tokens, they just forget about these projects and move into the next one. This is how people make money. It’s normal. Especially in countries with low income, if you receive an airdrop of few hundred dollars and you’re able to do it every month, it’s a huge income for a lot of people. These people are not valuable for the projects. As I said, we are based on on-chain activities, so the person who just received tokens and sold it instantly without using the app is an example of an undesirable user. Which implied he might not be able to receive good allocations thereafter. …

Melvin: Okay. Do you think launchpad has lost their value proposition for new projects to launch?

Sharif: Obviously yes. The systems who are based on that tier system right now, there is no value proposition in it. And the other argument, they lost it because they have not help projects find meaningful users. I don’t believe that in 2-3 years, token distribution can be based without some form of data and currently launchpads are not working on it completely. They’re just launching some low-quality projects. It’s a question we faced because if you want to make something huge or something big, there is this problem, we can call it the chicken and the egg. For example, on the market there are Coinlist and Tokensoft. …

Melvin: What is your take on crypto regulation and retail investors protection given there are so many platforms?

Sharif: I think US is going to be a lot of pressure to the companies who want to organise an IDO and alot of companies who did IDO in 2021, they might face problems soon, especially if they registered in the United States and if they were accepting money from United States citizens. I think for big companies like tier one projects with big VCs and big investment size touted as hot projects which everybody wants to participate, the amount of IDO activities in these segments are definitely going to decrease. Because for them, it’s better to attract money from accredited investors than to go to IDO and use some other ways to distribute their tokens. For example, leveraging on the service we are providing base on on-chain data analysis. …

Read the whole interview on the Signum Capital official website:

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