Recapitulation of Corestarter PROJECT AMA event held at AMA LOVERS CLUB.
Date: Sunday, 14th November, 2021
Time: 12:00 PM UTC
The Corestarter PROJECT team was represented by @Jay_corestarter who judiciously shared with us detailed knowledge and information about Corestarter PROJECT.
1st Segment: INTRODUCTION
Q1: Can you please introduce yourself and your background, also introduce the team working on CoreStarter?
ANS: Yes, I would love to! I'm Jay the COO of CoreStarter, as I said before it is great to be with you all
I myself have been interested in the space for a long time, and had some early success as an investor and have loved seeing the adoption over the past 12 months!
Our main team consists of our CEO and Founder Umesh Gupta who is a mathematics expert, we have Akhil Jindal who is our CFO, Shaminder Singh who is our Project manager, Sheekha Arora who is our relationship manager and we have a number of Devs working on the smart contracts and platform who have over 5 years experience working with smart contracts. We also have a number of strategic advisors and investors who have been critical in getting us to where we are today.
Q2: Can you introduce CoreStarter, what critical problems does it solve that existing solutions are not solving and what's the competitive advantage?
ANS: Yes, I would love to.
CoreStarter is a cross-chain fundraising platform built on Solana, with an NFT marketplace in the works and high yield staking - up to 75% APY! Our vision is to give power back to the small investor.
We aim to give power back to the small investor and create an equal playing field for all investors. Current launchpads only favour the large token holders and they don't care about loyalty, not to mention the small investors get left behind in allocations. We make sure everyone is cared for and even offer a reversed staking system where smaller token holders earn HIGHER apy and can reach a top tier just by staking long term, we think that is pretty cool.We have a first of its kind weighted governance system that allows even smaller token holders to vote, that is special to us.
Q3: The sole agenda is to allow small investors to take part in allocation, good!
Now, does that mean the units of Token required for getting allocation will be reviewed from time to time as the token price increases?
ANS: Our algorithm is completely unique and allows for this as the token price changes. We have a mathematical expert in Umesh who is our CEO and founder. The way our tier system, weighted system and calculations are done are truly amazing.
We are taking the current model of launchpads and re-writing it. We are the next generation of fundraising platforms.
Q4: Can you briefly describe the top milestones you have achieved and your target milestones with timelines, also share your roadmap?
ANS: Absolutely 💪
We are so humbled to have the chance to launch our project, so reaching this stage, with such an amazing community behind us is our greatest milestone. Our developers have created an amazing platform, our algorithm and rewards/tier/governance system are all one of a kind - that is something that we are incredibly proud of. We believe that we will create the pathway for the next generation of fundraising and DeFi platforms. We are almost through our final stages of our Q4 2021 roadmap which is so exciting! With our Dual IDO and exchange listings coming up they will be the biggest ticks off the list! Then we will have a few projects we will be launching, our NFT marketplace will open in Q1 2022, and we will be rolling out onto other networks! Further down the track we will have a p2e title but this is still in early discussions at the moment!
Q5: Can you briefly describe your PARTNERSHIPS so far?
ANS: Our early Partnerships have helped get us to the point where we are at today, only a few days out from launch! We had really early support from NGC Ventures and Insignius capital, SL2 have been key in helping us through the last 6-8 weeks up to launch - they are an extremely professional unit and masters in their field! We have a number of other partners, if you want to check out our socials we have links being posted daily that you can use to find out more!
Q6: Can you give an overview of the Tokenomics, and Utility of $CSTR tokens?
ANS: Yes of course!
$CSTR powers our platform and has many use cases, with more to come in the future! You can stake to earn up to 75% apy and also gain access to launches and governance rights. Touching more on that, don't forget we have a first of its kind governance system that is weighted and allows even small token holders a vote. Our token will also be used to make purchases on our NFT marketplace. With a future p2e title in early talks you can be sure it will be integrated in to this as well.
I guess to summarise, Fundraising, rewards, governance, and purchases. Token utility is so important and we plan to increase its use case over time as our platform evolves.
2nd Segment: LIVE Questions
Q1: CoreStarter aim to give power back to small investors because current launchpads only favour large token holders, by doing this, won't it reduce the stream of income generated by the project? If you're giving priorities to small investors, how will you generate revenue to sustain your project?
ANS: A great question but no it won't! The beautiful thing about giving power back means that they have the same opportunities. Our raises will still be for the same amount, and we will still have large investors of course! BUT this means that if you are a small investor you can get access to the same top tiers the whales do! For example, if you stake 1500 tokens for 365 days you make the top tier. That means you get access to the highest allocation. This is where we give power back to the small investor.
Can I know what #rights and #advantages token holders of CORE STARTER are entitled to. ??
Do you consider the community a vital part of this project
Do you support community GOVERNANCE. ??????
ANS: Community is the most important part of our project. Without our community we don't have anything! This is why we created CoreStarter and why we want to be able to give back to small investors, and give such high rewards. We absolutely support community governance! We have the first of its kind governance system that allows even smaller token holders to vote. It is weighted just like our tiered system so you can rest assured we cover your points.
Q3: Corestarter IDO will be taken place on two different launchpad, this is interesting, can you tell us the reason for choosing a dual-ido process? Why can't you conduct it on a single launchpad, Are you kind of scared that the participation rate might be Lower? Is there a comprehensive manual that will help guide interested participants on how to be eligible for the IDO?
ANS: This is a fantastic question! We didn't worry about participation, you just have to look in our communities to see how many people we have already! The reason for this is CoreStarter was created to be cross-chain, and to give power back to all small investors. We don't want to compete against everyone in the space, we are here to further the technology and help decentralise the future. The further we reach out and the more partnerships we can create the better for you, all of the blockchain community.
Q4: Hello ✨✨
I read Corestarter experts do manual analysis of the project to check the authenticity of the project.
So can you tell me which things you check on priority basis? Like concept of the project, legitimaticy of team, if it is scam or real. Can you tell those things which you check before launching project on your platform?
ANS: Yes absolutely. So we have our experts who coded our program checking the coding quality of all projects looking to launch. On top of this we have a number of partners and VC's who help us select projects that will further the ecosystem. We also run checks on current market value, current need, tokenomics and a full company KYC to make sure they are legitimate. We also have an insurance treasury so you can rest assured we have our community covered.
Q5: As a small investor, I usually get a bottom tier from other Launchpads and most times, I usually miss out because selection is through lottery round. So I came to the conclusion that the space only pays the big investors. How possible is it for CoreStarter to even the playing field between big and small investors?
ANS: This is exactly why CoreStarter was created, all of our team have been in the same spot. Fighting for small allocations and then missing out on them because your lottery ticket didn't come up! It means the rich get richer and everyone else misses out. We have an algorithm that rewards for loyalty. For example large holders will stake 1 day before to get a high allocation then unstake and leave again. As a small token holder if you stake long term you can reach a top tier! A user who stakes 1000 tokens for 10 days, will have the same score as a user who stakes 10000 for 1 day! We are creating an equal playing field that rewards those who are loyal.
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