MEXC Global
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MEXC Global

AMA Session with Christian Hentschel and Anshul Pareek from TradeStar (TSX)

Guest: Christian Hentschel, Founder; Anshul Pareek, Marketing Head of TradeStars
Host: Iris of MEXC Global

Introduction:

Iris: Today, we’re honored to have Christian Hentschel, Founder & Anshul Pareek, Marketing Head of TradeStars, to our community to give us a more intuitive introduction to their unique project.

Christian and Anshul, welcome. Would you like to say hello and introduce yourselves?

Anshul: Greetings to the MEXC 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 5 years. My expertise involves strategy & planning, brand management, social media and content marketing.

Chris: 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

As for the TradeStars team, we have an internal team of 10+ people between marketers, developers and designers working really hard. 🙂 . with aprox and aditionnally of 20+ plus members supporting us as partners/associates.

Guys you can reach out us on telegram group: https://t.me/tradestarsOK ,

or follow us on twitter: https://twitter.com/tradestarsOK

and explore TradeStars: https://tradestars.app/

Questions about the project

Q1

Iris: What is TradeStars? Can you share with us more in detail?

Chris: TradeStars is a Fantasy Sports Game powered by blockchain technology. Connects a DeFi “trading” layer with a DFS “gaming” layer in a play-to-earn model.

Users Trade fantasy stocks that represent real-life athlete’s performances, Compete against each other on different types of DFS contests, and Earn monetary and digital rewards.

The concept is based on DeFi primitives and True Digital Ownership provided by the blockchain layer.

Users create a virtual stocks portfolio which price is influenced by the gamification features of the platform.

They enter DFS competitions using they collected stocks, for monetary prizes in a play-to-earn model. (NFTs)

TradeStars is an innovative fantasy sports experience that combines the features of stock investing with the more traditional daily fantasy sports format.

Q2

Iris: What triggers you to launch TradeStars? What are some of the real-world problems/ pain points that TradeStars aims to solve?

Anshul: TradeStars is the Nasdaq for Fantasy Sports. An idea of 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 are in the process of implementing are:

  • Almost instant + gasless transactions — Thanks to Polygon Layer2 Solution!
  • 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.

Chris: I’d add that Fantasy Sports has a huge new opportunity with an innovative play-to-earn model and Blockchain in general. DeFI economics and true digital ownership.

Q3

Iris: What are some of the challenges that TradeStars currently faces? How do you aim to solve them?

Chris: Well, as startup company, I’d say this is a thought question with maaaany answers lol. But undoubtedly top of my head the most challenging phase we face now is scaling the team and cope with the ambitious roadmap we have.

Product delivery, and scaling a multidisciplinary team based on different cities is challenging.

We’re in constant look out for passionate people that shares our vision to join our team, so if interested, specially developers (solidity, JavaScript, Python), but also Marketing, Social Media, and Crypto enthusiasts please feel free to reach out to: jobs@tradestars.app or our telegram @tradestarsOK group.

Q4

Iris: Are there any exciting news or updates with regards to TradeStars that you would like to share with the users?

Anshul: Sure, a lot of actions going around TradeStars, to share some:

Our governance is live check details here: https://t.me/TradeStarsCommunity/320

Recently, TradeStars Founder/CTO Christian Hentschel was interviewed by leading media publication house Thrive Global. Read here: https://bit.ly/3x86Zv0

$TSX is available for trading on popular cryptocurrency exchange Bilaxy! :https://t.me/TradeStarsCommunity/327

We are already getting listed on MEXC!

As the next step, after a successful testnet with more than 30K registered users. Soon we will be announcing our Mainnet launch.

Stay Tuned!

Q5

Iris: If you were to summarize your project in ONE word, what would it be? Why?

Chris: I’d choose *Disruption* . We’re building on top of very new concepts such as Fractional NFTs and connecting DeFi economics with a play-to-earn model.

I find this is Disruptive and Innovative, with HUGE potential in not only in Gaming sector on the blockchain space, but more important on the traditional Fantasy Sports industry, that’s proven already with a large interest and market size (+20Bil) as of today.

Free-asking Session

Q1: TradeStars will almost certainly run entirely on the Ethereum chain. Hence, how to achieve this “near-instant and zero-gas transaction” feature and since it will start on only two chains, are there future plans to integrate other blockchains into the project’s ecosystem?

Chris: We’re using Polygon to scale the game transactions, with a secondary positive effect that it also allows our economics to implement gasless transactions for our users and no necessity for them to understand about crypto wallets and signatures.

Q2: Since TradeStars is Fantasy Sports Stock Market, how is it different from dream 11 and other fantasy games?

Chris: Compared to the traditional Daily Fantasy Sports like Dream11 our proposition is for a more real-time and social gaming experience. If you look at traditional DFS you have to pick a team and enter a contest. Once games start you just look and wait for an outcomes. Our idea is running a 24x7 real-time platform where you can buy and sell fantasy stocks of your favorite players to build and manage your portfolio.
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.

Q3: TradeStars is focused on sports specifically Cricket, but will add other sports with more popularity such as tennis, baseball and soccer?

Chris: For sure! We’re deploying our first versions focused in Cricket, (which is btw, 2nd most popular sport in the world), and later this year we’ll add Football and decide along the community through governance next sports. 🙂

Q4: Burning tokens is the best way to keep the price of the token under control and reduce the quantity. So, what are your plans for burning tokens?

Chris: We’ve plans for staking TSX and burning enabled in some features inside the game that we’re working on and will communicate in next weeks.

Q5: What is TradeStars in a few simple sentences, for those of us who are just beginning to understand the world of Crypto?

Anshul: Great question. We are a Fantasy Sports platform. Our user will be sports fans and they don’t necessary need to know anything about Crypto to participate. The blockchain technology is what the platform is built on but from a user’s perspective they will just be buying, selling and competing in against other users in leagues and events. For instance, most of us use Whatsapp, but we don’t need to understand what technology is behind it.

The users will be able to fund their account with fiat (or crypto wallet) and get “chips” to play. Just like you do in a Casino. Same way, they will be able to withdraw their funds in fiat money as well. So you don’t need to have any Crypto / blockchain knowledge to play.

Q6: How secure is your platform to use? Have you done audits of smart contract? What security measures are adopted from bugs of smart contract and hacking?

Chris: We’ve done at least 3 security revisions and formal audits with external teams. And also make changes according to the suggestions . We’re in constant development and looking after improving the released code also.

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MEXC Global

Founded in 2018, MEXC Global is a centralized exchange that employs a high-performance mega-transaction matching technology. Visit us at https://www.mexc.com/