TradeStars Community AMA Transcript! — May #2
Given TradeStars’ quick growth and numerous achievements, we figured our community might be interested in learning more about our recent platform innovations and ambitions. As a result, on May 25, 2022, we organized the TradeStars Community AMA. Christian Hentschel, the Founder of TradeStars, interacted with and answered all of the community’s questions.
If you were unable to attend, here is The AMA Transcript, which has all of the session’s specifics.
Q. 1 DFS is now available, and TradeStars has been actively promoting it. Can you explain what the product has accomplished with this launch?
Christian: Well the most important thing about having the DFS version out is we started the gamification of the fantasy stocks trading layer. why? because with this out, and with near future iterations we will enable dividends to stockholders and also cross benefits for the stockholders to increase their earnings as their chosen players perform on the top positions every time there’s a game. With more and more contests, more dividends will get paid to those stocks, incentivizing the market. and we are also a first step to the social side of the game. this launch, and last month it’s been quite active as an initial test / release for us. We managed to register 7700 new users, increasing by almost 40% total number, and a total of 5600 drafts for participating were created.
Q. 2 When could we expect DFS Paid contests?
Christian: We’re a few weeks ahead for this release. We have started our internal tests (testnet) this week. So minor work is to be done on details before announcing a hard date for the launch
Q. 3 What has TradeStars achieved in the previous month?
Christian: Well, besides a very important launch, in terms of numbers. 7700 new registered users, at the current rate of about 500 daily active users in the platform. approx 5500 drafts submitted for the games, which also drove the transactions up. We increased the token wallets by about 30% too. Especially on polygon where the new users are registering. I’ll post a small summary video the team prepared. is a summary of many of the different marketing initiatives we are doing to promote.
Q. 4 What can we anticipate from TradeStars in the next few months?
Christian: We are following the roadmap quite well I’d say. maybe delayed for a few weeks. We are now working hard on the release of the Paid Contests feature, followed by allowing users that hold TSX to create and host their own DFS contests to play with friends or to publish and promote and get a cut of the total prize pool. After these releases we will put our focus on enabling the dividends payouts and some other incentives to be paid to stockholders or investors in the unlocks too. This will finally connect the exchange and trading of fantasy stocks with the DFS side of the platform. I’d say next we should have that by aug.
Q. 5 The TSX price is declining. Is that something that worries you?
Christian: Well, good question. I believe the market has been really bearish and volatile in the last months. And specially alt coins suffered the most. TSX is no exception. What really worries me is user adoption . The token utility is very strong when it comes down to the real usage in the platform, so I believe and we started to see last week, we have more users, and naturally more wallets with the TSX are created, more deposits are made (which means more buying on exchanges) , etc. So that is what is really what worries me. Also for the ones that had been a few years in the industry, we know and experienced before these market clicles I believe strongly on the fundamentals.
Q. 1 With hacking every day, security is now at the heart of every user, so could you elaborate on how TradeStars strengthen your security measures, risk policy etc to safeguard your protocols? @VSezinV (Twitter)
Christian: This is a repeated concern and very important question. We have conducted several 3rd party reviews and audits, and we continue to do so from time to time whenever we release new features. Especially to the blockchain. I must say there’s no secret weapon, then carefully craft and design the systems / protocols, and make several decisions to review to address this.
Q. 2 Each project has its interesting stories before it is created. Can you share with us the story that gave you the motivation to build and develop this great project? @NoelMendezZ
Christian: Wow, interesting. i’ll try to summarize haha, many things, I believe I’m passionate about technology and the power to transform our reality. I’ve been working in the Fantasy Sports industry before, and i believe there were many issues that could be improved. On the gaming perspective, it gives users a more realtime way to connect and interact with their passion — sports- , and on the industry itself , blockchain as technology allows us to have a borderless game, connecting people in a secure, transparent way. so the mission is to create a better fantasy sports experience, not constrained by current industry barriers.
Q. Billings Leonila: Since NFT is popular nowadays, is there a plan for NFT integration?
Christian: [In reply to Billings Leonila]
Yes there is. And a very strong one. We are planning this and eventually announce it in the upcoming weeks/months.
Q. MitZI Branch: Is This Your project only for elite investors, how about others with small funds, is it open to everyone?
Christian: [In reply to MitZI Branch]
The project’s token is listed in public exchanges, and everyone can invest from very little to more big amounts as they desire. We also have a rewards pool for early investors with our stake program https://tradestars.app/stake. And token holders can also participate in governance
Q. Music: Can you list 1–3 killer features of this project that makes it ahead of its competitors? What is the competitive advantage your project has that you feel most confident about?
Christian: [In reply to Music]
1 — A Decentralized Fantasy Stocks Exchange (DEX for fantasy stocks). I don’t see any other DFS doing this.
2 — The token economy, and all the incentives around trading and game participation. so-called the play-to-earn model.
3 — Our soon to be released API for everyone to be able to host their own DFS contests on the blockchain, run on our token, and incentivise the dividends payouts.
Q. Shooter Booth: Hi, Can you tell us about your team members? Are they qualified and professional in their fields? What are the recruiting qualifications for team members for your extraordinary project?
Christian: [In reply to shooter booth]
It’s hard to build a team. I’m very proud of all the people that are collaborating with us, they are to my point of view very professional, and what is more important exceptional human beings. Good quality people. We have open positions with specific requirements here: https://apply.workable.com/tradestars/
Q. Marcelene: Where can I get the latest updates or more information about the project?
Christian: [In reply to Marcelene]
We have this group where we post everyday updates, and a very active channel on Twitter: https://twitter.com/tradestarsOK. We also post about product updates and releases at Medium: https://medium.com/tradestars
That concludes the AMA. Keep an eye out for more.
TradeStars is a Fantasy Sports Game powered by blockchain technology. Connects a DeFi economics with DFS “gaming” in an innovative play-to-earn model.
Users Trade fantasy stocks that represent real-life athlete’s performances, Compete against each other in different types of DFS contests while earning monetary and digital rewards
Trade Fantasy Stocks of your favorite athletes and create your own DFS team on TradeStars.app 📈