On February 4th, 6PM EST the BeastDAO team jumped into the CertiK Foundation channel to take questions from the most important part of the CertiK Chain ecosystem; you!
BeastDAO is a decentralized incubator and platform for developers to deploy and raise capital with cross-chain interoperability.
The CertiK Foundation have formed a partnership with BeastDAO to enable the most secure launchpad and incubation platform in the entire DeFi ecosystem,
You can keep up to date with anything and everything BeastDAO in their Telegram channel here
Without further ado, let’s meet the BeastDAO team:
Beardofjustice — Founder, BeastDAO
George DeFi — Co-Founder, BeastDAO
Albatross Spacebucks — Marketing Lead, BeastDAO
Missed the AMA? Not to worry, check out the optimized transcript below:
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Aaron Leibowitz (CertiK):
Hey everyone! We’re joined here today with the team from BeastDAO, they’re ready to take on any question you might have about their project, or our partnership.
BeastDAO is a decentralized incubator and platform for developers to deploy, and raise capital with cross-chain interoperability.
The recent partnership between the CertiK Foundation and BeastDAO is mutually beneficial partnership.with the aim to what’s the aim of the partnership?
On that note, take it away and please give us an introduction of yourself and BeastDAO
Beardofjustice (BeastDAO):
Beast DAO is a project Launchpad and Incubator. As we have a focus on launching reputable and successful projects, our priorities are in making the best possible partnerships with projects that share our values. CertiK foundation’s track record and usefulness put your project at the forefront of who we would like to work with to make this possible. With our strict KYC guidelines and the expert auditors at CertiK, we feel that we can become one of the most, if not THE MOST secure launchpad and incubation platform in Defi.
David CK (CertiK):
Perfect, thanks! Before we get started, let’s dive a little deeper into BeastDAO. What’s the aim of the project? What issue do you guys solve?
Beardofjustice (BeastDAO):
One of the biggest issues defi has, because of its nature is the plague of scammers and project developers with less than good intentions. It has created an environment where people expect every new project that launches to be a scam of some sort. We aim to change this through our extensive KYC process and unique incubation model. We hope to change defi for the better, from a “wild west” mentality where danger or liquidation lurks behind every corner, to the standard in secure financial services.
Aaron Leibowitz (CertiK):
I think everyone here can get behind that mission! On that note why don’t we open it up for community questions.
Numancoin (CertiK Community):
First one : I have seen that you have superiorities over a few successful incubator platforms, and I know that at the very beginning, security is the biggest problem in the DeFi world. Therefore, I want to learn the details of your partnership with CertiK. Where exactly will the CertiK service be?
Beardofjustice (BeastDAO):
Certik will provide Auditing and Consulting to projects launching on our platform. They are to be advertised to launching project as our “Preferred Source” for Auditing and Consultation.
Numancoin (CertiK Community):
Second one: BEAST is indeed a high potential token, what are the advantages you will offer to BEAST holders, and will there be an obligation to hold BEAT in pre-sales? If yes, how many BEAST should be hold?
Beardofjustice (BeastDAO):
Currently there is no hold requirement to enter presales. Launching projects can elect that presale buyers hold beast token. At this time it is entirely optional.
Numancoin (CertiK Community):
Third one : Your partnership with CertiK is very exciting news for us CTK holders, but do you think to provide a privilege for CTK holders on your platform?
Beardofjustice (BeastDAO):
This is something we have not thought of yet, and are willing to explore with the CertiK team!
Numancoin (CertiK Community):
And last one : Today, we are waiting to learn what your new incubation project will be with great excitement, will we be able to use the platform soon and for which project?
Beardofjustice (BeastDAO):
I cannot share too much information regarding this. But we do have 1 project that is being headed up by a former LID team member, and another very exciting project (Think Dextools killer) is considering entrance into our program.
Numancoin (CertiK Community):
We are looking forward.
TLqhn VIP (CertiK Communty):
How do you keep you funds safe?
Albatross Spacebucks:
We posted this news earlier today on Twitter
George DeFi (BeastDAO):
We created Beast DAO is to make DeFi a safer and overall better place for people to use. We allow Beast DAO users to participate in Liquidity Events and presales with alleviated risk. We’re implementing our own optional features to protect investors, some of these are included in our GLE (Guarenteed Liquidiy Event’s) which include automated liquidity locking, Uniswap liquidity adding (features implemented in protocols like CORE, for regular presales), a full KYC integration model for Developers and Founders on that team along with DAO approval and governance of their presale and/or token deployment. Beast DAO will also take part in incubating projects within the community, these include both start-ups and active projects with large market-caps.
Hitsu (CertiK Community):
A couple of questions I personally have is how will the DAO proposal/voting system play out? Are their limits to what the community can expect?
And will there be a potential vote for liquidity APY staking in the future?
Beardofjustice (BeastDAO):
All Governance is handled through snapshot.page votes need to be held for a minimum of 72 hours. As Beast is a DAO, even though I am the co-founder, myself and the team have no more say then the average token holder.
Crypto Skënderbeu (CertiK Community):
Why you should be better than your competitors? why other projects have to work with BeastDao?
Beardofjustice (BeastDAO):
I think there is several areas where other launchpads fall short, we are looking to remedy this.
I have a great infographic for this
Keppler (CertiK Community):
Did BEAST get audited by CertiK? If not, then by who or why not CertiK?
Beardofjustice (BeastDAO):
Beast was audited by Nightwatch, the audit was performed before we made introductions with CertiK
TLqhn VIP (CertiK Communty):
DeFi is one of the hottest topic in the blockchain space right now. Can you share your opinions on DeFi with us? Do you think that DeFi will disrupt the existing financial system? What is Your approach towards the DeFi sector?
Beardofjustice (BeastDAO):
I think it will be a very long time before Defi becomes the dominant form to finance, but I also think it is inevitable.
Nirmal Sharma (CertiK Community):
When your first incubation product launch?
Beardofjustice (BeastDAO):
TBD
Crypto Skënderbeu (CertiK Community):
Why CertiK?
Beardofjustice (BeastDAO):
Because, after speaking with [Marco, Business Development at CertiK] I believe that CertiK is the soon to be “Standard” of auditing in the defi space.
TLqhn VIP (CertiK Communty):
Will partnerships with major projects such as Certik continue?
Beardofjustice (BeastDAO):
We hope so!
Keppler (CertiK Community):
BeastDAO is on eth will any incubated projects build on certikchain?
Beardofjustice (BeastDAO):
We have not discussed this as of yet, I think our developer, George DeFi, can look into it!
Sir Etherlot (CertiK Community):
What is the plan with the remainder of the NFTs? I see there are a total of 200, but only 30 were given to presalers right? Will there be any incentive for current or future BEAST holders to receive an NFT?
Beardofjustice (BeastDAO):
This is definitely a possibility! NFT holders can vote to release more NFT’s in the future. This is why 200 were minted.
Hitsu (CertiK Community):
I thought BEAST aimed to be a launchpad incubator for both Dot and ETH. Interoperability and all that.
Beardofjustice (BeastDAO):
It is, although I am not familiar with certikchain. which is why I refer to George DeFi on that one.
Hall monitor (CertiK Community):
Seeing that Beast Dao is interoperable with $ETH and $DOT, does this mean you will incubate projects for both platforms?
Beardofjustice (BeastDAO):
Correct.
Albatross Spacebucks (BeastDAO):
That’s the plan, sir. The opportunities are endless in this space right now
George DeFi (BeastDAO):
This is correct, we’re open to incubating projects on a wide-variety of platforms, we’ll look into implementing CertiKChain at Beast DAO as well.
Hall monitor (CertiK Community):
That’s awesome. As you know, launching projects on $DOT is and will be massive. It’s great that BEAST will do this.
Sir Etherlot (CertiK Community):
What are the next immediate steps for BEAST after this partnership?
Beardofjustice (BeastDAO):
We have some major website updates to push, as well we have much to talk about with CertiK for future integration/usecases
Nirmal Sharma (CertiK Community):
Any new partnership in the pipeline?
Beardofjustice (BeastDAO):
Yes, there is, but until they are finalized we cannot release any info
Joel Davies (CertiK Community):
In a months time where to you see BEAST? What do you hope to achieve in that time?
Beardofjustice (BeastDAO):
We hope to have 1–2 projects enrolled on the launchpad, and hope to expand the platform greatly.
Bobbsssaaa (CertiK Community):
If a community member brings in a project, is there any bonus for that?
Beardofjustice (BeastDAO):
Yes! Any community member that refers a project to launch on beast is awarded .5% of that projects total presale value
Hitsu (CertiK Community):
Oh dang that’s awesome!
James H (CertiK Community):
What will be an advantage of holding BEAST be when it comes to incubated projects? Is there a minimum amount required or is it tiered? I’ve seen before that there is potential for BEAST holders to receive airdrops. Can that be insisted?
Beardofjustice (BeastDAO):
There is no requirement at this time, I believe a vote will be opened soon to establish the minimum amount, until then projects can choose to have a Beast requirement. This will most likely change.
Hitsu (CertiK Community):
Will beast have a simple UI to make launching on the platform easier once KYC and audits have been completed? Especially if referring is gonna be OP
Beardofjustice (BeastDAO):
Of course, our goal is to make the process of launching easy, for not just project teams, but presale/GLE participants as well!
Aaron Leibowitz (CertiK Foundation):
Thanks so much to the Beast team for this AMA. I know everyone here enjoyed it (I certainly did)! Feel free to put any closing remarks or answer more questions if you’d like. Otherwise — everyone stay tuned for the announcement of the CertiK AMA in the Beast channel
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Thanks for reading everyone, BeastDAO will be hosting a CertiK Foundation AMA with their community in the near future. You can be the first to know when this is going to take place by jumping in our Telegram channel here
$BEAST Winners!
The BeastDAO team generously awarded 50 $BEAST to be split between 5 participants from the CertiK Foundation community in the AMA. The winners are as follows:
TLqhn VIP
Joel Davies
James H
Numancoin
Hall Monitor
The CertiK Team will reach out to you to grab your wallet address.
Huge thank you to everyone who got involved — see you all next time!
