BSClaunch Research: FirePot Finance

BSClaunch Official
6 min readAug 30, 2023

KEY METRICS

Category: AI, Infrastructure, Defi, Web3, Cefi
Ticker: HOTT
Blockchain Network: Arbitrum
Token Supply: 1,000,000,000 Tokens
Project Valuation: 10,000,000 USD
Initial Token Circulation: 128,000,000 Tokens
Initial Market Cap: 1,280,000 USD
Total Raise: 900,000 USD

A. INTRODUCTION

1. PROJECT OVERVIEW

We are a dedicated and passionate team of professionals who firmly believe in the transformative power of decentralized finance (DeFi). Our commitment is to develop and deliver user-friendly decentralized applications (dApps) that cater to a wide range of users, regardless of their background or experience in the world of cryptocurrencies and DeFi.

Our mission is to create intuitive, purposeful, and enjoyable dApps that can be accessed and used by anyone, from seasoned blockchain enthusiasts to complete newcomers. We understand that as the decentralized era unfolds, it is vital to design dApps that are not only powerful and feature-rich but also simple and engaging. By reducing friction and fostering user-friendly experiences, we aim to pave the way for broader adoption of web3 technology, enabling countless individuals to reap the numerous benefits that blockchain technology has to offer in their daily lives.

At the heart of Firepot Finance lies a guiding principle: the mainstream adoption of web3 technology is a direct consequence of outstanding software and exceptional user experience (UX). Our team is driven by this vision, and we work tirelessly to ensure that our solutions meet and exceed the expectations of our users.

Mission

At Firepot Finance, we are inspired by the potential of DeFi and driven by the opportunity to make it accessible for everyone. Our solution, the Firepot app, is designed to overcome the barriers and complexities associated with the current DeFi landscape. We understand the challenges that users face, from interacting with multiple blockchains to manually bridging assets and navigating non-intuitive user interfaces. With these challenges in mind, we’ve developed an innovative platform that integrates omnichain functionality, robo-advisory services, and comprehensive automation to provide a frictionless, user-friendly DeFi experience.

Long Term Vision

Our long-term vision is not only the self-custody of tokens but the self-custody of data online. This transforms how we interact on the Internet. Instead of us signing into apps, apps sign into our wallets and we maintain control.

Web3 is all about removing intermediaries, being decentralized, and the technological revolution created by doing so! True Web3 is decentralized, everything else is just Web2.

2. GO-TO-MARKET STRATEGY

We have a robust GTM in our deck with user personas. To start we’re engaging current web 3 users who think it’s too complicated. We plan to onboard users to a freemium model where they get a lot of features for free but have to upgrade for premium.

B. PRODUCT DETAILS

1. PRODUCT VIABILITY

Unique Features : First Web 3 robo advisory. As well as the first AI copilot which we call Ember. This is conversational crypto, imagine asking Siri to stake or unstake. This is our end goal. We also have Fido 3 authentication for biometrics. So users who wish to don’t need a seed phrase. Our goal is to automate all chains.

2. TECHNOLOGY

We do have an omnichain vision. Starting with Arbitrum, which is seeing massive growth and ethos is geared towards making web 3 easier and more accessible. We have integrated GPT 4 , users can now get real time answers form our AI copilot ember. Also Robo advisors set your risk levels. We have a robust risk modeling structure.

3. PRODUCT DIVE

We like to say three things. Unify — Discover — Automate. You access multiple chains from a single place and a single wallet.

You can discover yield farms, liquidity pools, staking, and lending opportunities on various chains and platforms. We aggregate these opportunities rather than creating them ourselves. We also simplify the process by making it a one-touch action to enter a farm, for example, without needing to go through multiple steps. Additionally, we can automate transactions between various chains and their native assets. Suppose you receive your salary on the Polygon network. You can set up a program to dollar-cost average (DCA) into native BTC and ETH, with the remaining amount going into a USDT savings account, for example.

Please via this link if you want to have better understanding about Firepot’ Product Dive: https://www.firepot.finance/_files/ugd/b908d5_38847bd6c7ef4e5bb5e696e7a176ff94.pdf (Page 2 to Page 4)

4. PROJECT ROADMAP

5. REVENUE STREAMS

Firepot have 3 revenue streams — Premium Saas model, listing fees for project highlights on their highlight section , and Defi convenience fees.

C. TOKEN ECONOMY

1. TOKEN UTILITIES

Firepot embraces a two-token economy model, where the native tradable $HOTT serves as a gateway to the ecosystem. When $HOTT is staked, it becomes rHOTT (rewards HOTT) and enables governance participation, access to rewards plug-ins, and community engagement.

The Tokenomics design has been influenced by successful projects like the Camelot DEX’s GRAIL token and Curve protocol’s gauges, ensuring a sustainable and thoroughly incentivized ecosystem.

2. FUNDRAISING STATUS

Private Sale

Fundraised: 500,000 USD

Price: 0.005 USD

Lock-up: 10% at TGE, 1 month Cliff — then 24 Months

Public Sale

Fundraised: 500,000 USD

Price: 0.005

Lock-up: 15% at TGE, then linear vesting in 12 months

3. USE OF FUNDS

PAYROLL

MARKETING & GROWTH

ADVISORY & PROF. SERVICES

RENT

OPERATIONS

4. TOKEN DISTRIBUTION

5. TOKEN RELEASE SCHEDULE

D. BACKGROUND

1. TEAM

General Information

https://firepot-finance.gitbook.io/data-room/team-and-staffing/linkedins

2. INVESTORS

- Airdao
- Flutter finance

3. PARTNERSHIP

Project Partners

- Marketing Services Partners NF media

- ODSY
- Airdao
- Lossless
- Unigri
- NF media
- Arbitrum Daily

Key Opinion Leaders

Michael Wrubel

ABOUT FIREPOT FINANCE

Firepot Finance is inspired by the potential of DeFi and driven by the desire to make it accessible to everyone. Their solution, the FirePort app, aims to overcome the barriers and complexities associated with the current DeFi landscape. They understand the challenges users face, from interacting with multiple blockchains to manually bridging assets and navigating non-intuitive user interfaces. With these challenges in mind, they’ve developed a platform that seamlessly integrates omnichain functionality, robo-advisory services, and comprehensive automation, providing a user-friendly DeFi experience for all.

Follow FirePot Finance on:
🔗
Website 🔗 Twitter 🔗 Telegram 🔗 Discord

About BSClaunch

BSClaunch is a smart investment platform built on BNB Chain, an ecosystem launcher that provides a full suite of DeFi solutions, enabling projects to raise capital in a decentralized environment and the community to invest with safety, freedom, and equal opportunity.

Follow BSCLaunch on:

🔗 Website 🔗 Twitter 🔗 Channel 🔗 Discord

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BSClaunch Official

Incubation accelerator for entrepreneurs to create moonshot projects. #IDO #IGO Launchpad, Yield Farming. Top connections in crypto spaces — $BSL #Crosschain