Announcement: Answerly is migrating to Polygon

Hey Answerly Community,

Answerly is growing rapidly in terms of user base and website traffic. As good as it may sound, this also means that we (as a company) need to scale our team and operations to keep up with the progress. We have been trying to get in touch with anyone from SDF for the last 2 months and never received any response. We tried asking for feedback on Answerly but that didn’t work either. We tried participating in the previous round of SCF but our project (despite having over 18,000 users) wasn’t selected.

For those who don’t know, Answerly was initially funded by Stellar foundation in SCF #8. We received $150,000 and we utilized those funds to complete most of the milestones that we promised.

Answerly still doesn’t make revenue but we’re all set to launch Answerly Pro and Answerly self-serving ads by Q1 2023. Now that Answerly is rapidly gaining users, we need a bigger team of moderators, developers, designers, and marketers to manage everything effectively.

Since we’ve already tried reaching out to Stellar Development Foundation multiple times, maybe it’s time for us to switch to a different network where ‘hopefully’ our efforts will not go unnoticed.

Considering everything, have decided to migrate from Stellar to Polygon blockchain.

How will this happen?

We will create Answerly token on the Polygon blockchain with the same ticker and circulation. All Stellar-based Answerly tokens will be swapped for Polygon-based Answerly tokens at a 1:1 ratio.

Our team is developing a system that would allow the existing holders to transfer their ANSR tokens back to the token issuing address (on Stellar) and receive the same amount of tokens on their Polygon address.

What about Answerly Invest? (invest.answerly.app)

We have disabled Answerly Invest until we migrate to the Polygon network. Don’t worry if you have your tokens locked on invest.answerly.app because this doesn’t change anything for you. You will receive the tokens (with interest) at the end of the 30-day lock period. Once you receive the tokens, you can easily swap them for the Polygon-based Answerly token.

What about Answerly NFT?

Similar to Answerly tokens, Answerly NFTs will also be swapped with the new NFTs. All existing NFT holders will receive new Answerly NFTs that are minted on the Polygon blockchain. A new collection of Answerly NFTs will be listed on Opensea.

Exchange listing for Answerly token

Once we migrate to Polygon, Answerly will be listed on Polygon-based decentralized exchanges such as:

• Uniswap [Polygon]
• Quickswap
• Sushiswap [Polygon]

Answerly token will be listed on the mentioned exchanges on in the second half of August.

Token price of new Answerly token

Answerly token price will be adjusted to 0.005 USDC (more than double the current price).

When and how will the existing token holders swap their ANSR tokens?

We are currently building a system that would allow the holders to swap their tokens to the new blockchain. The token swapping module will be made live on 1st Oct.

What’s exciting for Answerly token holders?

We have saved the best for the last. Here’s how Answerly tokens holders will benefit:

• The token price will be adjusted to 0.005 USDC — which is more than the current token price.
• Moving to Polygon means more token liquidity, more exposure, more growth
• Users no longer need to deposit 1 XLM to activate their wallet, nor issue a trustline to receive Answerly token reward.

That being said, we have never been more excited and confident of Answerly’s success in becoming the biggest blockchain-based Q&A platform.

Let’s take Answerly to new heights!

Regards,

Raza Rizvi