TradeStars Community AMA Transcript! — February
As TradeStars is expanding rapidly with innumerable accomplishments, we thought our community might be curious to learn more about our recent platform developments and plans. Thus, we held the first TradeStars Community AMA on Feb 14, 2022. Chris, the Founder of TradeStars, joined this session as the speaker and answered all the community questions.
If you missed out, here’s The AMA Transcript that records all the details of the session. Scroll down to read now!
Jai: A lot has happened. More solid developments, product updates, TSX Staking, FIAT deposits, DFS coming soon. Can you please start by explaining some of this stuff?
Chris: A lot happened last year indeed. What a packed 2021!! Last quarter and after we deployed our main net version in August, we started working on the $TSX staking program and enhancing the user experience product-wise.
One of the points we make several enhancements to was deposits. We added support to wallet connect, so users can easily add mobile wallets and use the product from their phones, we also made it simple to deposit from BSC, or Ethereum without the need to go to the poly.network bridge (it’s now seamlessly done in the deposit process). Lastly, in December we finally released FIAT deposits so now is possible for an event not crypto savvy users to simply add funds and use the platform. Debit & credit cards are available in multiple currencies. Also, INR was a long-awaited feature.
Next to come, we are working on some huge impactful partnerships, more TSX listings, and the first version of our DFS “Game Center”. So looking forward to and very bullish about a super packed 2022 for TradeStars!!!
Q1. Staking is the new trend. What staking options are available for TSX? What are the various ways to earn TSX tokens and are there any limits to the amount of $TSX I can earn?
Congratulations 🎉 https://twitter.com/crumbs_ap/status/1492476753344106496
Chris: We released our $TSX staking panel last November with great reception from the community. As of today approx 40% of the supply is staked at https://tradestars.app/stake. The current APR is around 68%. The program releases around 12K TSX per day as of today. Have more details here: https://medium.com/tradestars/introducing-tsx-staking-409f0afa2fba
There are no limits as to the amounts you can stake. The APR will adjust based on the daily rewards and the amount staked, leaving to the market to decide the final APR during the life of the program
Q2. I heard that TradeStars is coming up with something like DFS, can you share some teaser maybe or something around it like what’s that exactly?
https://twitter.com/jaksh96/status/1491840335815004161 (Twitter question)
Chris: Yes, we are working on what we internally call the “gaming layer” of the platform. It consists of the protocol, contracts, and support functions to be able to host unchain Fantasy Sports contests where users will compete against each other for monetary and digital rewards ($TSX + collectible NFTs). The first version will be available in some more weeks, but there are many features and ideas to be implemented so we will update throughout the months to come. Also, this will enable “stocks dividends” that will connect the trading incentives in the fantasy stocks market.
Q3. I understand TradeStars is a Fantasy Sports platform. How can I monetize my sports knowledge on TradeStars and what are the rewards? What types of sports are currently supported on your platform? then what is the use case of the $TSX token in the TradeStars ecosystem?
Congratulations 👏🎉 https://twitter.com/tomie_chana/status/1492547787745275904?s=21 (Twitter question)
Chris: There are many ways to prove your sports knowledge. Building your Fantasy Stocks portfolio, and competing in the to-be-released DFS contests are the main ones. For now, we are only supporting cricket. We will add football later this year. $TSX is the main unit economy of the platform, it allows you to buy fantasy stocks, enter the DFS competitions, participate in the governance, and you can also stake it. As with the rest of the platform, some new utilities are being worked on and will be released in the future.
Q4. What are your major goals to achieve this year? What are your plans to expand and gain more adoption in fantasy sports?
Congratulations 🤠💪 https://twitter.com/jdchaukekar/status/1492079217844322304 (Twitter question)
Chris: Our major goals this ’22 are generating strong and decisive partnerships, and completing our product development. In parallel to this, keep growing our community and user base. We plan to end the year with a major stake in the web3 fantasy sports market.
Q5. TradeStars is a sports fantasy stocks trading gaming platform. Which part of the project are you most focused on right now? What is the current $TSX earnings model? where can I buy $TSX Tokens? and Can I buy it with a Visa/Mastercard?
Chris: Project-wise we’re working on partnerships, and to release the first version of our DFS “gaming center”. In these contests, you’ll be able to compete and win $TSX as a reward, and also by holding stocks receive dividends on the top-performing ones. More of this is to come in the next weeks. You can buy $TSX from exchanges (Uniswap, PancakeSwap, MEXC) and also deposits with FIAT (INR supported) since December. If you want to buy with a Visa/Master for trading TSX you can do so on MEXC. More exchange listings to come this year too.
Queto Abiro: Have TradeStars been audited? Have not heard you talk about the security of funds is what every investor craves for and plans to escape in case of insecurity if funds, scams, and rug pull? How strongly built is your security put in place?
Chris: we conducted many security reviews last year, and periodically do so as we deploy more features and change what’s deployed
xperia:Hi! Will there be chances of interacting with the real stars? Can fans and stars meet in an event via TradeStars?
Chris: Yes! we’re working on this 🙂
olexander: I checked TradeStars but I found only cricket… When do we expect more games to get added on TradeStars and what’s the advantage of buying players’ stock…can you please elaborate?
Chris: Football is coming later this year. For the second part, holding fantasy stocks will not only give some edge on the DFS gaming but also be able to get dividends that those stocks will pay.
Mauket: Most projects are solid during the launch period because they are equipped with good token and utility infrastructure, but underperform soon after due to dumping by investors after the launch. exchange. What will TradeStars do to mitigate those risks?
Chris: Some dump is expected, especially for not visionary, long term supportive investors, (that all projects have). One of the best options for this is the implementation of the staking program.
Baxy: Could you please tell me just a little more about the TradeStars team and some of their backgrounds? I have personally seen many projects launch with inexperienced team members, and some of those didn’t go so well due to easily avoidable mistakes?
Chris: Creating and scaling a team is hard. I’d say one of the hardest parts of the company creation. And also key to its success. I’m proud and very happy about how we have grown our team these last months. Kudos to @OxAnshul, @federodriguez @Dmilgram @tfelizalde @Diego678 @Jpmanfredi @Akashdshmkh … and all the guys for their effort and support
What is the ultimate vision that TradeStars is trying to achieve within the cryptocurrencies market? Obviously the whole space will experience huge growth in the upcoming years, but what role would you like TradeStars play in this?
Chris: To become the number one fantasy sports platform in web3
Izerka: How does TradeStars scale? Are there potential limits?What is the biggest business scaling problem you believe could face in the future and how will TradeStars team try to solve it?
Chris: Very interesting question. There are no limits, the protocols implemented on the blockchain are fully scalable since the very start. We aim to create a global platform.
Gong Ga: Is this your project only for elite investors, how about others with small funds, is it open to everyone?
Chris: On the contrary. We aim to create a platform for every sports fan our there. In the stocks model and thanks to the implementation, you can invest and buy a fraction of a token. It will also be like this when we release the DFS part.
Joyamim: Do you have tutorial videos so we can get to know your project more clearly or do you have a YouTube channel or something? can you share it with us?
Chris: Yes, there’s a lot of videos in our official channels info about the project too. @OfficiaL_Jai96 can you share the info here?
Jai: How to Trade Fantasy Stocks on TradeStars?
What are TradeStars’ global expansion plans? Are you focused on the market? or focus on something else, for example, your platform development and users or partnerships?
Chris: We have a very ambitious plan. Our main focus is India and with it, cricket. We want to deploy and be leaders there before we expand to other geographies.
Check out the step-by-step video to learn and start trading your favorite athletes on TradeStars.app now!