PodFast Announces Token Offering March 3rd on TrustSwap Launchpad
PodFast, a new media platform focused on summarizing popular podcasts and YouTube videos, has announced the launch of their $FAST token on the TrustSwap Launchpad starting March 3rd, 2023 at 5:00 PM UTC.
Introducing PodFast
Podcasts have taken the world by storm as millions of people tune in every day to listen to their favourite shows.
But, while the volume of informative content is constantly growing, we still only get 24 hours daily to learn as much as we can. It is becoming increasingly more important to guard your precious time and get smarter faster just to keep up in this rapidly-changing world.
With the rise of the podcast format, a "blue ocean" market opportunity has emerged for short summaries and condensed versions of this valuable content. PodFast is prepared to be the first mover in this space.
PodFast is launching the $FAST utility token to support the ecosystem and reward community participation. In this blog post, we'll take a closer look at PodFast and the $FAST token, exploring their potential impact on the podcast industry.
What is PodFast?
PodFast is an AI-powered media service that will unlock your full learning potential by condensing podcasts into short summaries. It will include an AI-powered browser extension that instantly converts online videos into concise overviews to maximize your time.
PodFast is a community-focused Web3 company powered by the $FAST utility token which unlocks access to exclusive features and rewards.
How Does It Work?
PodFast will leverage AI and blockchain infrastructure to create short summaries of popular long-form podcasts and YouTube videos, letting people get the important details from the content without spending hours listening to the entire programs.
These summaries will be created as high-quality audio, video, and text-based content that is ready to instantly be shared across all major social media platforms and streaming services by podcast hosts as well as their guests and listeners. This will make it easy for podcast communities and creators to find and connect with each other.
Target Markets
Podcast Listeners
Learn Faster - PodFast will make it easy to get all the most important insights and highlights from podcasts and videos so you can save time and get smarter faster.
Simplify Concepts - PodFast will break down complex ideas into summaries that are easy to digest and understand including animated videos with subtitles.
Community Conversations - PodFast will host exclusive community chatrooms for further discussion of topics and ideas.
Discover New Podcasts - With PodFast summaries, you can sample different content from a variety of creators and find the ones that interest you.
Content Creators
Save Time and Money - PodFast summaries and clips will come formatted for easy sharing on social media and can be used for teasers and promotional materials.
Expand Your Reach - Get discovered faster by new listeners who find your clips and want to hear more. PodFast is bringing the podcast world together and putting the best of the best all in one place.
Organic Search - Many people may find a podcast interesting and want to listen but just don’t have time. PodFast will give them an easy way to engage without the time commitment.
Community is Key - PodFast users will enjoy access to premium content, private chat rooms, and newsletters with weekly highlights. These can be powerful tools for connecting with listeners and increasing engagement and brand awareness.
Business Model
There are four key pillars to the PodFast business model:
- Browser Extension Subscription
- Mobile app “Pro Mode”
- Episode Sponsorships
- Client-Specific Contracts
AI Summary Browser Extension
Maximize your learning potential with an innovative and seamless browser extension subscription. Quickly grasp complex concepts and retain essential knowledge with ease. Get more done in less time with PodFast.
In-app Pro Mode
Premium features below will be granted to all users subscribing to Pro Mode for $5 monthly fee. Users can also access these features with no monthly fee by registering a Web3 wallet (ie. MetaMask) and maintaining a balance of at least $50 in $FAST tokens.
- Members-only chat area
- Additional videos
- Ad-free content
- Plus more
Episode Sponsorships
Advertisers will be able to sponsor podcast summary videos for a fee based on the number of views received.
- $20 per 1000 views (industry average)
- 2 sponsors per video
- $20k/ 500K view video
- Multiple videos daily
A conservative 3 videos per day, averaging 500K views each equates to $21.9M USD annually, exclusively from episode sponsorships.
Client-Specific Contracts
For $3,000 per episode, a client can expect to receive the following:
- 10-minute animated summary of their podcast.
- 10 x 1-minute animated summary clips with multiple size formats for all various social sharing.
For an additional $2,000, content creators can have their PodFast summary hosted and promoted across all verticals including YouTube, Twitter, TikTok, Mobile app, WebBlog, etc.
This additional exposure can become a powerful marketing machine and attract many new listeners who may be reluctant to commit 2 hours to ‘trying out’ a new podcast.
Marketability
Summaries will be edited into short highlights and posted on all viable channels for new subscriber acquisition. Lack of competition on podcast episode keywords will push PodFast Summaries to the top of YouTube, Spotify, Google, etc.
Summaries will be converted to text blogs for high rankings on Google due to lack of competition on keywords. Weekly highlights will be sent to email subscribers.
In addition, each summary will be split into 10 short clips, which will be posted across all social and podcast platforms, shareable by podcast hosts and guests.
The first video summary created was shared by Michael Saylor with his 3M followers. This trend is likely to continue. It’s in the best interest of both the podcast hosts and their guests to share these summaries with their followers. These short clips act as a “sampler” for the full podcast.
$FAST Token Utilities
PodFast makes it easy to participate in the ecosystem with no complex staking or claiming system needed. Simply holding in $FAST tokens in your Web3 wallet will unlock premium features within the PodFast ecosystem including 'Pro' subscription services and token rewards.
A transaction 'tax' of 2% is taken from each on-chain transaction and distributed as follows:
- 0.75% to $FAST token holders (i.e. 37.5% of the reflections)
- 0.75% liquidity pool (i.e. 37.5% of the reflections)
- 0.50% to the PodFast treasury for continued growth (i.e., 25% of the reflections)
These 'reflection' rewards are airdropped directly to your Web3 wallet proportional to the amount of $FAST tokens held.
Roadmap
Team
PodFast is founded by our very own Jeff Kirdeikis, founder and CEO of TrustSwap!
Jeff is a dedicated builder with a track record of bringing innovation and excitement to the crypto space. This is the first project Jeff has publically launched since the $SWAP token almost three years ago.
TrustSwap has been incubating PodFast for several months, and we are all very excited to finally share this project with the TrustSwap community!
Learn More About PodFast
To learn more about PodFast and the $FAST utility token, click the links below.
Token Offering Details
Tokenomics
With less than $2M FDV and all tokens distributed on day-one, this launch is setting up to be a wild ride!
Secure Launch Process
To ensure a smooth launch, the PodFast team has agreed to the following:
1) Have their domain fully SSL certified one week prior to the launch date.
2) Have their domain protected by Cloudflare and share the proof with TrustSwap prior to the launch date.
3) Disclose the vesting schedule of all tokens, including team, strategic investors, private presale, influencers, etc.
4) Add no less than $100,000 of liquidity immediately upon DEX listing.
5) Distribute tokens to launchpad participants within one hour of exchange listing.
6) Have at least one community moderator on each social platform (Twitter, Telegram, etc.) actively available 24 hours a day for the first 7 days following the launch.
Participation and Allocation
Anyone with a Staking Score of at least 4,000 is eligible to apply to participate in the Public Sale round of the $FAST token offering granted that individuals (and entities) meet jurisdictional restrictions. To learn more about Staking Scores and the TrustSwap Long Term Staking Pool (LTSP), read our comprehensive blog post.
Token allocation will be split up among eligible participants proportionately based on their percentage of the total combined Staking Scores of all eligible applicants. For example, if the sum of staking scores for all participants is 1,000,000 and your score is 10,000, your maximum allocation will be 1% of the total available tokens.
Participants will be asked to pledge the maximum amount they wish to send. Individual allocations will be either the pledged amount or score-based allocation, whichever is lower.
Visit the TrustSwap Dashboard to check your staking score. You can add more SWAP and/or increase the duration of your stakes at any time before the snapshot to increase your Staking Score.
Step-By-Step Guide
1. On March 3rd, 2023 at 5:00 PM UTC, the application window will open and remain open for 24 hours. During this time, go to the TrustSwap Launchpad and click on the “Start” button to apply.
NOTE: The SWAP snapshot will be 24 hours after the Launch event begins at 5:00 PM UTC on March 4th.
2. Complete all of the steps required for KYC verification. This can be done in advance at any time for free in just a few minutes. Complete your KYC Registration now.
3. The portal will close after 24 hours. Following its close, there will be a waiting period of up to 48 hours as the PodFast team finalizes internal processes.
4. Upon the success of your application, you will receive an email confirming the maximum amount you are allowed to contribute to the token offering. You will have 24 hours to send these funds. After 24 hours, your position will be given to the next in line and you will lose it. Payments must be sent in USDC or USDT on either Ethereum (ERC20), BSC (BEP20), or Polygon (MATIC) blockchain.
5. TGE and DEX listing are planned for March 15th, 2023 on PancakeSwap.
How To Prepare
- Based on the requirements set for a guaranteed allocation, stake your $SWAP tokens in the Long Term Staking Portal before the snapshot on March 4th at 5:00 PM UTC.
- Take a photo of your government-issued ID card (Passport, Drivers License, or any other form of government-issued ID card that has your photo in it).*
- Take a selfie of yourself holding the ID card along with a note that reads: “FAST 2023”.*
- Make sure to follow the TrustSwap Announcement channel for updates and confirmations.
- Submit your details and documents at any point during the 24-hour window at https://dashboard.trustswap.org/app/launchpads.
*Note: Steps 2 and 3 are not necessary if you have an active KYC registration. You can save time by pre-registering at https://dashboard.trustswap.org/app/sekuritance.
Who Can Participate in the $FAST Token Offering?
Anyone not domiciled in the USA or UN-sanctioned countries can participate in the $FAST token sale.
Disclaimer: Launchpad dates and details are subject to change. This is not an endorsement, partnership, or offer for investment by TrustSwap. PodFast is using the TrustSwap Launchpad as a customer, with specific requests as to how they need their launch to operate. TrustSwap is a provider of non-custodial, smart-contract-based software services. Digital assets carry a high level of risk. Participation is performed at your own risk. Exercise caution and conduct your own due diligence.