FaraStarter — Telegram AMA — January 21
On Friday, January 21, we had the pleasure to welcome to our Telegram chat:
Son Ho, CEO
We asked him questions about the development of FaraStarter.
Some sentences have been slightly edited for readability but the meaning has been conserved.
FaraStarter, which is in the ecosystem of the game Faraland uses mainly the $FARA token; thus, the $FARA’s use-case is hugely diverse. $FARA holders can use tokens to play Faraland, buy and sell items on the marketplace, stake for Heroes, etc. Thanks to these advantages, the value and liquidity of $FARA are always high.
Moreover, FaraStarter calculates tiers and gives users the right to buy new projects’ IDO and Private Sale, which is based on the amount of $FARA they hold. Now, everyone can safely hold a large amount of tokens to join the launchpad without worrying about token instability.
FaraStarter is a satellite project in the Faraland ecosystem, helping to increase the use-case for $FARA tokens and attract new cash flows. This is crucial to the health of a GameFi ecosystem, as it facilitates the business to alleviate pressure on $FARA token price.
This project also brings new investment opportunities to token holders, keeps prices stable, and ensures value for investors. In the future, the Faraland ecosystem intends to launch many satellite projects to support each other, increasing liquidity and creating new use-cases for $FARA tokens.
Q — Ayeley from GAINS: Can you please give a quick introduction to the community. What is FaraStarter all about? The team and their experience with crypto projects?
A — Son Ho from Farastarter: FaraStstarter is a project developed by Moonknight 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 experience with crypto projects in different areas: tech, marketing, operation, product development, legal, etc. The members all have a background from reputable projects, such as Faraland, Kyber Network, Bemil, etc
Q — Ayeley from GAINS: What requirements does a project that seeks to launch on FaraStarter have to meet?
A — Son Ho from Farastarter: The process is similar to most launchpads I believe. New projects are introduced either via our form on the website or via a reputable connection, we then have a thorough look at many factors including business model, revenue model, team, advisor, backers, target segment, MVP, etc.
If the project is potential, we’ll work with projects about what can be improved. After everything is satisfied with our standards, the project can be launched on Farastarter.
Q — Ayeley from GAINS: Is the FaraStarter project accessible anywhere without any restrictions?
A — Son Ho from Farastarter: well, there are some countries whose residents are restricted. Restricted countries: The United States of America, China, Hong Kong, and all sanctioned OFAC countries (DR Congo, Iran, Myanmar, Sudan, Iraq, Ivory Coast, North Korea, Syria, Zimbabwe, Cuba, Belarus, Liberia).
Q — Telegram user Anitax: I understand that FaraStarter is a sister platform of FaraLand and therefore I would like to know how you are currently doing with the creation of your community or can only the community of players of the FaraLand game participate in your launching platform?
A — Son Ho from Farastarter: Well, actually FaraStarter and Faraland are products of Moon Knight labs. You can hold $FARA to join projects on FaraStarter. You don’t need to play Faraland. FaraStarter is a place for investors. You don’t need to be a gamer. Please join our tele-channel for more details
Q — Telegram user Osmanek 🇹🇷: I understand that FaraStarter is an offshoot of FaraLand and they even use the $FARA token. So, can you explain if both the team behind FaraLand is the same team that manages FaraStarter? If so, can you give details of the challenges involved in managing both platforms?
A — Son Ho from Farastarter: I appreciate your understanding. The workload is heavy. However, we can manage it all because we want to bring the most smoothly-run FaraLand and also the most guaranteed projects on FaraStarter. Some OT is a must. However, again, I’m sure that if you invest in FaraStarter, it will bring you success and wealth as we’re trying our best
Q — Twitter user @antonio50221026: I understand that “FaraStarter point”, means the number of points that users have to bet on Fara and that will decide the level at which a user is in his launchpad. So, can you explain how many points the users have to bet to be able to participate in their launchpads?
A — Son Ho from Farastarter: We have 4 tiers
- Orc — 200 FSP
- Fairy 2000 FSP
- Dragon 8000 FSP
- and Angel 24000 FSP
There are more details here
Q — Twitter user @meml1997: FaraStarter is a launchpad created by gamers for gamers. But right now, there are quite a few launchpads on the market as well, so, what’s the reason that pushed you to create FaraStarter? What problem on the market are you trying to solve with it that other Launchpads can’t?
A — Son Ho from Farastarter: Yes, it is a launchpad created by gamers for gamers, but it doesn’t mean that we will only limit our IDO to GameFi. but other fields as well. For example, our most recent project — Islander. We want to bring the most valuable projects to our users.
Q — Twitter user @GaboS_Gamefi: I understand that FaraStarter will only cooperate with projects that have a professional team with prestige and reputation! But what about projects that are new and very little known? How can they apply?
A — Son Ho from Farastarter: We appreciate every project that wants to be launched on FaraStarter. Projects can send their proposal here or they can apply on our website as well.
Q — Ayeley from GAINS: You mention here that the $FARA token is used in the FaraStarter ecosystem. Let’s dive into this token. Can you tell us about tokenomics & other use cases? What benefit do token holders derive from it?
A — Son Ho from Farastarter: I love this question. 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)
Q — Telegram user Deberem: Can you explain the utility of FSP in the FaraStarter platform? Between single staking or LP staking which is most beneficial for users to make more profits?
A — Son Ho from Farastarter: There are two pools. It’s hard to make choices for you but I guarantee you that by holding $fara to join private and public pools of our launchpad, you can make profits.
Q — Telegram user Victor: FaraStarter claims to be the best launchpad option because is “safe even for new investors”. Having that in mind, can you tell us more about what makes FaraStarter really a safe place for new investors? What will you offer to the other platforms that don’t? How will you protect them?
A — Son Ho from Farastarter: We’re safe for new investors, because:
1. We have many use cases for $FARA tokens, you can trade it on the market or other things
2. The minimum investment is not too big, new investors can try
3. We don’t launch as many projects as other platforms, which means we select only and only guarantee projects. For example, if Moon Knight labs incubate projects, they are likely to be launched on Fs. = It’s so guaranteed for NEW investors.
Q — Ayeley from GAINS: Can you take us through what makes FaraStarter unique?
A — Son Ho from Farastarter: 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 haha
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.
Son Ho, thanks for coming into our community, and taking the time to answer our questions. Do you have any final words for us? What should we look forward to from FaraStarter? Where can we find out more about FaraStarter on social media? — Ayeley Commodore-Mensah from GAINS
Thank you the community to be here with me. I hope that my answers are satisfactory enough. the best is yet to come about FaraStarter, so kindly follow our channel for upcoming projects which can bring you HUGE profits. — Son Ho from Farastarter