Recapitulation of GalaxyCoin PROJECT AMA event held at AMA LOVERS CLUB.
Date: Wednesday, 6th October, 2021
Time: 12:00 PM UTC
The GalaxyCoin PROJECT team was represented by @Blackfyre_the_Firelord who judiciously shared with us detailed knowledge and information about GalaxyCoin PROJECT.
1st Segment: INTRODUCTION
Q1: Can you please introduce yourself and your background, also introduce the team working on GalaxyCoin?
ANS: I am Mirz one of the co-founder of Galaxy Coin ( GLXY ). Galaxy Coin is a new automated market making and yield farming token on polygon network, which provides itself sustainable mechanism and adds value to the protocol.
Our current features includes
Automated Marketmaking weighted Dynamic Liquidity pool which ahs 5 different tokens as underlying assests to support the value of our token.
We are currently in discussion with EvoDefi to add GLXY into their bridge so that GLXY users can trade GLXY into 3 Networks ( ETH, Polygon, BSC )
We will slowly expand into other networks.
We are currently working on Dex.
For more information pls visit our website + App
Currently we are doing IDO, which has started now
Launchpad is going to be another project, More details to follow.
Hope this is not a too big reply. Thanks
Q2: Can you introduce GalaxyCoin, what critical problems does it solve that existing solutions are not solving and what's the competitive advantage?
ANS: We are at the early stage of development. We have done our audit and doing tests by ourselves. So far we are happy with our result. Currently we are concentrating on the Dex Aggregator on Polygon platform. That would be more like One Stop Shop for our users. So We will always keep up our development and innovation.
It's a hard question you have asked. But We will add new features as we go to solve the future problem we face together with the community.
Q3: Can you briefly describe the top milestones you have achieved and your target milestones with timelines, also share your roadmap?
ANS: Recently have entered partnership with a crypto cover ( insurance ) project http://Pharo.tech
That means our investors will feel more secure when they invest into our project, should there be any problamatic situation rises in the future. ( or complete loss of the investment ) we will release the details in the near future on this.
We have completed our App ( Lottery + Farming ) Evodefi dridge will be integrated on our Dapp soon.
We are also looking at adding multiplayer 2d risk games via our Dapp. It will be free to play however only with limited number of maps. To unlock better map and features they will have to pay with GLXY
Q4: Can you give an overview of the Tokenomics, and UTILITY of $GLXY tokens?
Total supply will remain 5 millions.
Currently only untility is Lottery and farming
Single currency staking will not be live. As it will reduce the value of the token.
We will start with only LP token farm.
2nd Segment: LIVE Questions
Q1: Originally, Galaxy Coin began as the MATIC Network. Later it was rebranded as Polygon. Why it was rebranded as Polygon later? What makes it different?
ANS: There are no difference between Polygon and Matic
It's same Network.
Q2: Hello sir,
🛑Why did you select polygon network for galaxy coin ?
🛑Can you explain about long term benefits of galaxy coin like yield farmings?
ANS: Our farm meant to last over 1.5 years.
Q3: How can I buy $GLXY with less fee?
What method must I use sir?
ANS: polygon network has very low fees. costs you less than $0.01 USD
You can get GLXY currently by talking part in the IDO
Q4: I read Galaxy Coin is also building a multi-chain decentralized exchange. Can you share some information regarding this? What is the progress and when it is expected to be launched?
ANS: We want to finish the Dex by couple of months. But we don't want to put a date for the Dex launch yet. Thanks.
Q5: Is there any option where we can stake our Galaxy coin? As we know staking is the best option for passive income. So do you have any staking feature for Galaxy Coin?
ANS: Yes we do have staking feature
Q6: I read that there is a Galaxy Coin pool built on Balancer. I'm not familiar with Balancer, so can you give us a brief explanation of how this pool works? Can we earn passively by investing in this pool? And please let me know the link to this pool. Thank you!
Automated market making weighted liquidity pool consists of
( GLXY 50% / USDT + USDC + WMATIC + LINK + CRV 50% )
The pool will auto balance and accumulate value over time without users doing anything. We will make a video on that for better understanding. I think it's going to be great for our community to learn Multi-assets Liquidity pool.
Adding liquidity or investing in the liquidity pool will give LP token called mGLXY
Which can be staked on our App to farm more GLXY as reward.
( https:// www.galaxycoin.finance/app/gc-farm.php )
Galaxy Coin Weighted Pool on Balancer ( liquidity will be provided after IDO is finished )
https://polygon.balancer.fi/#/pool/ 0xb70c25d96ef260ea07f650037bf68f5d6583885e0001000000000000000000 48
There will be more features available soon.
Q7: You are currently concentrating on Dex Aggregator on the Polygon platform. Why did you choose Polygon, ?
ANS: Coz it has low trasaction fees and room to grow.
There are many questions here my apologies if I did not answer some of your questions. Perhaps you guys can join our telegram and ask me those unaswered questions. And I will be glad to share my thoughts. 🙏🙏
Q8: There is a lottery feature on Galaxy Finance. I want to know how it works. Do you choose the winners manually or computer bot chooses the winners?
ANS: Lottery has been completed and live.
# Each pool has 50 tickets.
# 3 winners will be chosen by the system out of 50 tickets randomly.
# Thus creating better winning rate than most of other lotteries.
# Each Lottery pool will be drawn automatically when 50 tickets are sold.
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