Investment Due Diligence Checklist - Funding Proposals / Investments - Harmony Community Forum
Regarding this, we’ve constructed the original proposal covering all the details mentioned here
but we are writing one more post covering each detail point by point.
Lets divide this reply into 2 parts
PART 1 :
I’ve seen that based on dappradar details The project has 6 unique wallet addresses interacting with your smart contracts. What I’m missing?
Now regarding the second question…
Like I have mentioned in the previous post, now there is a free NFT marketplace on TRON (apenft.io) where if you transfer your NFTs trading them costs only gas and has 0 PLATFORM FEES . IT IS FREE AND IT’S RELEASED BY TRON Foundation itself that is why currently we have Traffic but less traders/volume.
Our platform is 100% revenue driven and that somewhat conflicts with the idea of free.
Just for reference: " Would there be an Opensea or Uniswap if Ethreum Foundation and Vitalik had released their own dApp with 0 platform fees? "
This is way before the release of free marketplace : https://twitter.com/justinsuntron/status/1459583696755847170?t=FjxjkVYB66Y3Kzpc1sAZDQ&s=19
Kraftly.io is still the #1 choice for artists but unfortunately not for traders on Tron.
PART 2 : Investment Due Diligence Checklist - Funding Proposals / Investments - Harmony Community Forum
1. Team biographies and commitments
Ans : Biography : All computer science engineers and self taught solidity programmers here with expertise in Web3 , JS , React.js , NODE and Express - Kraftly.io is a combination of centralized and decentralized combined although it is a 100% decentralized marketplace but things like referral , accounts , followers , follows are done in centralized way
Commitment : Work in a chain and introduce all great products - DeFi, Cross Chain swaps and NFT based codes are our favorite to work on
2. Equity and token cap tables
Ans:
Tokenomics : https://kraftly.io/docs/tokenomics.pdf
Equity : In past we have dealt with APENFT and TRON offering them tokens at 1% at 100K USD
Right now we are offering 2% to 5% of our equity
3. Product demos and technical roadmaps
Ans:
Demo : Kraftly.io and follow Secondary NFTs - Kraftly Docs
Roadmap :
I. Listing on 2 CMC top 50 CEX (Instantly after investment if we qualify for the investment ) (CEX listing budget is 50% of the investment)
II. Deploy on harmony and keep working on the deployed product (We always keep pushing new updates - ie You can check the past achievement table to see how frequently we push updates )
III. Marketing through free NFT minting , Giveaways and more.
4. Market and peer analysis
I don’t have proper analytics but this tweet from a user pretty much sums it up
5. User reviews and analytics
User Review: We have no such place to accept reviews but please read the comments in these posts and tweets which should probably give a brief idea about reviews
I . https://twitter.com/justinsuntron/status/1459583696755847170?t=FjxjkVYB66Y3Kzpc1sAZDQ&s=19
II . https://twitter.com/apenftorg/status/1500029843316293632
6. Go to market strategy and materials
Ans :
I. For marketing we are going to open up a blind auction and give away 10K free NFTs to Harmony users (Replicate the ether rock strategy ) this will not only help us our user base but will attract new users to your chain ( we still have not been able to decide a fair way to give away NFTs for free but we are working on it)
II. Weekly extra giveaways
III. Art competitions
IV. Trading events
V. Hollywood celebrity promotion (We have contacts but these come at a hefty price tag)
7. Financials and token distribution schedules
Ans :
FOUNDERS →
USERS →
Explanation of point 6 and 7 : Yes we distribute tokens to users but hear us out!
We distribute 20% of the revenue as $KTY tokens to users
and
Instantly after distribution use 25% of the revenue to purchase $KTY tokens and burn them
That keeps out token deflationary at + 5% of the revenue value
Yes! That means 40% of the total supply actually will never come into circulation!!!
8. Technical review including audits
Ans:
Kraftly.io is a NFT marketplace and like every major marketplace our contracts are not audited , audit is not very demanding for NFT marketplaces like ours. We do not ask users to lock their funds in our contract we simply provide P2P services for NFTs .