Recapitulation of TRADESTARS PROJECT AMA event held at AMA LOVERS CLUB.
Venue: https://t.me/amaloversclub
Date: Thursday, 15th April, 2021
Time: 12:00 UTC
The TRADESTARS PROJECT team was represented by @ who judiciously shared with us detailed knowledge and information about TRADESTARS PROJECT.
1st Segment: INTRODUCTION
Q1: Can you briefly introduce yourselves and TradeStars?
ANS: Hi to all the AMA lovers club community!.
I’m Chris, software engineer and entrepreneur. I love tech and I’ve been in the blockchain space for +4yr now. Mainly in the gaming industry. I contributed to many projects like Decentraland.org, Decent.bet, Popchest, and some small others before starting TradeStars.
Greetings to the AMA Lovers Club fam! 👋🙏
I am Anshul, a full-stack marketer and currently heading Marketing at TradeStars.
I have helped 15+ domestic and international brands with branding and communication over 4 years. I have prior experience of consulting brands like Marico, Wipro Consumer Care, Officer's Choice Blue Whiskey & ITC to name a few. My expertise involves strategy & planning, brand management, social media and content marketing.
TradeStars is a Fantasy Sports platform powered by the Ethereum and Polygon layer 2 blockchains where users can trade digital assets that represent real-life events and athletes’ performances.
We are gamifying DeFi economic incentives with a fantasy stocks platform where users can express their passion for sports, compete against each other with true digital ownership, transparency, liquidity, and decentralization.
Q2: TradeStars strongly focus on creating a community-powered decentralized fantasy experience...
how do you intend attract this initial community?
ANS: We have some very exciting set of actions planned for the a same.
For example, even in our testnet it's the community who decide the next Players (Fractional NFT markets) to be unlocked on the platform.
In the coming months we will have leaderboards and Fantasy Contests with daily, monthly and in special gaming contests rewards.
Users will be also able to stake their TSX tokens to enter the contests.
Real-time portfolio rewards, referral/affiliate campaigns, adding to the dividends distribution, are some of the actions to attract the community.
Q3: So the community can vote using the governance token?
Or how do they decide the "next player"?
ANS: possible, many others too . Such as deciding what sport we should add next, change in the transaction fees, etc.
Q4: Can you tell us a bit more about TradeStars and it’s features?
ANS: Yes, we launched TradeStars v1 in Jan ‘20 before COVID hit sports in March. We step back a bit then and use the time to focus on strategic partnerships and reaching out to what could be next verticals to add such e-sports in the meantime.
Since sports are back hopefully for good now, since September we resumed at full speed our original plans.
So, last December we launched the v2.0 testnet in parallel with a bug bounty campaign that rewards the users who help us improve the platform by finding bugs or making suggestions for improvements.
Community members can join the same with more details here: https://medium.com/tradestars/tradestars-2-0-testnet-release-b2b5dff29ec2
Within a month we target to launch TradeStars v2.0 on mainnet that will be loaded with exciting features and pretested with the community to give an enhanced experience.
Once the mainnet is launched we will have additional features and new sports additions almost, daily fantasy contests, in-game TSX staking rewards, and we will also be listing the TSX token for trading real soon.
Absolutely!.
TradeStars is the Nasdaq for Fantasy Sports. A platform that rewards the sports fans for their knowledge. With a unique trading experience tied to sports real-life performances of the athletes.
We implemented a new concept based on Fractional NFTs. Each NFT represents the real-life athletes’ performance, and works similar to a liquidity pool on DeFi platforms.
Users are able to buy/sell fractions of those Fractional NFTs and the supply and liquidity is provided by the AMM algorithm on the smart contracts.
Some of the features we have implemented in current testnet are.
- Almost instant + gasless transactions - Thanks to Polygon guys!
- Liquid fractional NFT markets. Managed by an AMM algo for seamless athletes’ shares price discovery.
- Multi deposit, FIAT onramp ready. We support multiple FIAT deposits and direct to Layer2 with Onramp integrations.
- It’s a community governed game. Thanks to the TSX . The token gets liquidity mined by the real users of the game.
Q5: What are the competitive advantages of TradeStars platform compared to other fantasy trading platforms?
ANS: Compared to the traditional Daily Fantasy Sports our proposition is for a more realtime and social gaming experience. If you look at DFS you have to pick a team / enter a contest / compete. When games start you just look and wait for outcomes.
Our idea is running a 7x24 hour real-time platform where you can interact with by buying / selling fantasy stocks of your favorite players building and maintaining your portfolio.
We envision that this will happen in real time while you’re following the games. Ie . The game rewards if a striker makes a goal, and that guy is not on the pitch yet. Well, we expect that if he’s going to enter the game users can go and buy / sell his fantasy shares at the very moment before he enters to play.
This is a huge difference in gaming experience over traditional DFS in terms of users' experience. Also the game economics based on dividend rewards, governance of the platform by the users, and the decentralized, transparent, secure and liquid experience for the players makes this comparable to DeFi vs traditional CeFi.
Q6: What do you think will be the future of TradeStars in the decentralized revolution look like?
ANS: Great question!.
We have many ideas and soon to be released a detailed roadmap. To name some:
- Planning TradeStars v2.0 mainnet and listing our token TSX on DEX by April ‘21.
- Add Soccer, and Esports by Q2 - Q4 this year.
- Our main goal is to end the year with 1.000.000 users on our platform.
- New features announcement throughout the year for better user experience.
We will soon be officially announcing our roadmap so Stay Tuned with our official channels. [https://t.me/tradestarsOK](https://t.me/tradestarsOK).
2nd Segment: LIVE Questions
Q1: What are the extra facilities i will get if i buy the first issued stocks? How it will be profitable for me and how i can buy the stocks?
ANS: The first stocks are cheapest ones. Besides the updside in terms of monetary value, you'll have more stocks per investment , and more shares will give you access to select that player for contests for example in the future, or more power when staking for unlockcin stuff inside the game.
Q2: I am a fan of various kind of sports and I have vast knowledge in these sports. How can I make profits on TradeStars with my sports knowledge?
ANS: very interesting question. Well, the obvious is buying low, selling high on just the market, but then is how you use players from your fantasy portfolio to compete against others players and win contests/
Q3: What is your strongest advantage that you think will make your team leading the market? In contrast, what is your weakness? How do you plan to overcome it?
ANS: I'd say, speed , technology, the idea and knowledge of the market we're. The main weekness I guess is we gotta be organized as we're growing very fast now, and is also the biggest challenge.
Q4: Can I build something using real Tradestars digital assets? Tell by Trade Star....
ANS: We would love to see other people building stuff by connecting with our APIs. still not released official APIS but this is something we'd love to do and promote.
Q5: Does your project have a tax for each transaction, does your project have such a system?
ANS: the exchange part takes 0.5% fee for each amount transacted (unless is swap), and that is going to be distributed among TSX holders.
Q6: Do you agree that an active and dynamic Community plays an important role in the success of projects? Do you have plans to increase the motivation of your community for your project to have a sustainable success process?
ANS: ABSOLUTELY!. And we're thinking the platform as community owned. The way TSX is introduced (liquidity mining) and its utility inside the game, and for the company is cornerstone of this idea.
Q7: For those who are not technical enough. Is it possible to summarize the TradeStars project in a few simple sentences?
ANS: We're a fantasy sports platform. In our platform users build their fantasy's stocks portfolio and then complete agains others users in daily contests for different prizes and rewards.
Q8: I'm a Tennis sports fan. Is there Tennis on TradeStars? Or wouldn't you like to add it to attract Tennis fans?
ANS: We will be launching TradeStars wit Cricket, soon we will have other sports live on the platform including Tennis. Stay Tuned.
Follow Us On Our Various Social Media Communities For More Update;
Reaching out to our telegram group:
https://t.me/tradestarsOK
or by following our twitter: https://twitter.com/tradestarsOK
Best is exploring TradeStars: https://tradestars.app/
We would love to answer the remaining questions on @tradestarsOK
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