Recapitulation of FaraStarter PROJECT AMA event held at AMA LOVERS CLUB.
Venue: https://t.me/amaloversclub
Date: Friday, 24th December, 2021
Time: 08:00 AM UTC
The FaraStarter PROJECT team was represented by @Sonho2806 who judiciously shared with us detailed knowledge and information about FaraStarter PROJECT.
1st Segment: INTRODUCTION
✨✨QUESTION1: Now to start the AMA, please have a quick introduction to the community. What is FaraStarter all about? The team and their experience with crypto projects?
ANS: Faraststarter is a project developed by Moon Knight Labs - the team behind Faraland to support Gamefi-related projects. FaraStarter forms partnerships, do strategic investment, advise, incubate and bring projects to the FaraStarter launchpad.
All of our team members have got experienced with crypto projects in different areas: tech, marketing, operation, product development, legal, etc. The members all have background from reputable projects, such as Faraland, Kyber Network, Bemil, etc.
✨✨QUESTION2: Are you a global project or a local project? Can anyone use your project anywhere without any restrictions?
ANS: Most hot gaming projects right now are from Vietnam, so I guess projects from Vietnam will play a big part in our launchpad, and on other launchpads as well. However, we're expanding to global market already, let's wait and see what names we're bringing next.
There's only a few restriction for some country, due to legal reason, you can find out more in our guide book: https://farastarter.gitbook.io/farastarterguidelines/
✨✨QUESTION3: Can you walk us through the uniqueness of FaraStarter?
ANS: The first thing is the token use case. We use $FARA instead of making a new token, that's why the token growth is ensured with the growth of Faraland also, not just Farastarter.
Therefore, Farastarter is not under the pressure of launching a lot of projects to keep the token price. Instead, we focus on a small number of projects, but high-quality ones. You can think of this as a decentralized Coinlist .
Another thing is, unlike other launchpads, instead of only launching & marketing, we provide strategic, investment, in-game cross-over, advisory, and even incubation also. This doesn't 100% require the project to launch on Farastarter though.
In a long-term view, we'll create a metaverse (I know this phrase has been used a lot recently) where all players can use their NFT for all of the games within our ecosystem.
✨✨QUESTION4: What is the long-term plan for your business?
ANS: Like I said from above, we want to create a metaverse, one that surround Fara and Fara Token. So far we have had Faraland and FaraStarter, and we incubate a few, which all belong to the "Faraverse", we going to start bring more variety of IDO on to the launchpad in 2022, instead of just limited to GameFi,
And we have plan to introduce more features for FaraStarter and use case for Fara token as well.
✨✨QUESTION5: Let’s dive into your token.
Can you tell us about the tokenomics & use cases? what is the benefit of token holders?
ANS: Farastarter is using FARA token, so the use case is tied with its use in our game (Faraland) as well:
- Raise floor price of heroes
- Buy equipment in Gacha
- Stake to level up heroes
- Trade equipment on marketplace
- Upgrade equipment
- Vote for various parameters
- Change the name of heroes
- Stake to upgrade Tier on Farastarter (to get more allocation).
2nd Segment: LIVE Questions
✨✨QUESTION1: What most launchpads are after is the number of projects they launch and revenue they generate from it. They do not really care about the quality of the project or how these projects perform after listing. This has cost many investors there hard earned money. What level of Due diligence will be Conducted by Farastater before approving a project on it launchpad? To set standards, will there be a maximum number of projects that will be able to launch on the launchpad in a month?
https://twitter.com/BisolaHafsat/status/1474063189885308943?s=19
ANS: Yes most user care about the number of project going to be present on a launchpad. But our motto is "quality over quantity". It's said a lot about FaraStarter, we vetted project carefully. I mean that, sometime it takes a long period to pick one that we want to offer to the community.
We plan to launch 1-2 projects a month, and I understand your worry but buying a private allocation from a good project means that you will have to wait. Having and knowing you putting money into something that has potential will be a much better option.
✨✨QUESTION2: What role Faraland has played so far in the Farastarter Project?
In future as well, How will Faraland help Farastarter Project?
https://twitter.com/Aditya_kargil/status/1474290763525607425?t=NYsqaBQLpyvQWgPQ6tq6vw&s=19
ANS: Faraland is the original product of Moon Knight Labs, it has created so many use case for Fara Token instead of just 1-2 like others launchpad token, this means that while waiting for a project you can earn with Faraland and that the same for Faraland user while playing the game they can join IDO by staking Fara on FaraStarter.
✨✨QUESTION3: 1. Is FaraStarter a fork of any other project or was FaraStarter copied from another source? What is the thing that FaraStarter have that other related projects are yet to have?
2. Do you respect the decision of your community members?
https://twitter.com/Abiodunbbey/status/1474280111688069120?s=19
ANS: A launchpad is a launchpad, the definition is there, but what we do and the vision of the launchpad is unique, and that's what make us stand out from others.
✨✨QUESTION4: What is FSP in FaraStarter platform? What does it do?Which way is more beneficial for users single staking or LP staking? By which way I will get more profits?
https://twitter.com/nur0524444/status/1474294083791196160?t=ktIvoq9Ae_l-5LNCoSCs0Q&s=19
ANS: FSP stand for FaraStarter point, it represent the number of point you have by staking Fara which will decide your tier in our launchpad, for now there's only one pool that offer APR, we don't plan to have our users generate most of their profit from the pool but from IDO, the APR pool is just a bonus.
✨✨QUESTION5: In current market there are are number of platforms or new project are coming but they dont show the work results , They only do promise instead of showing results , All project are focusing on quantity instead quality ,
So
Can you tell me How your project proof the "quality over quantity?
https://mobile.twitter.com/Yua458/status/1474295472298680321
ANS: Our IDO or project can said for itself, we let our our result talk for it self. For example Bemil, though they have met a few issue and none was their fault but they bounce back stronger than ever, while their token still maintaining x20 the public price. Bemil ATH was at x145 the public price.
✨✨QUESTION6: FaraStarter is a Launchpad created by gamers for gamers to support all #Blockchain Game Projects. But as an investor with a keen interest in long-term plans, what assurances and commitment strategies do you have to integrate us into the team?
https://twitter.com/maimonsterberry/status/1474290438295019524?t=_blfHpn8stbahm5ks8Uz2Q&s=19
ANS: Yes it's a platform created by gamers for gamers, but we are not limited to GameFi, but we do all kind of IDO. Our next IDO - Islander is an example.
✨✨QUESTION7: 🤑🤑
We can know that FaraStarter is still in the testing stage, and FaraStarter made a wise decision to choose BSC and ETH. So after painstaking testing, which network will FaraStarter be planning? More chains means more adoption!
https://twitter.com/sitiecahct/status/1474291008418451456?t=kmwhMoMjy8ecMFcf16jjug&s=19
ANS: We are expanding to DOT and Heco chain as well.
✨✨QUESTION8: Can you tell me How You are. Planning to keep your Quality of your Project Top notch, What Secuirty Measures and Steps you are taking to Deliver the BEST QUALITY and Verified Projects from your platforms ?
https://twitter.com/roman20433793/status/1474289442437296128?t=7g5a9nyeY3E-nr-Qj0M6ag&s=19
ANS: We have a team full of experts from all kind of background, and and a whole long process of vetting and voting from the team. We need the whole team to agree to launch and that's how we maintain the quality of our IDO and project.
✨✨QUESTION9: May I Know about the UNIQUENESS Of the FARASTARTER Platform, What Outstanding and KILLER features Does the FARASTARTER p possess Which makes it Better than Other Launchpads in Crypto Market ?
https://twitter.com/SUBHAMS202/status/1474283853724352513?t=8-GJfN7fHXyjemq1QW3KiQ&s=19
ANS: Fara Token, our token is what make it so much better, most launchpad token only have 1-2 use case, but Fara Token has 8 and will have more in the near future.
Follow Us On Our Various Social Media Communities For More Update👇👇👇
You can visit these channels:
- Website: https://farastarter.com/
- Twitter: https://twitter.com/FaraStarter
- Telegram Announcement Channel: https://t.me/FaraStarterNews
- Telegram Group Chat: https://t.me/FaraStarter_Global"
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