TradeStars Mainnet Launch to usher in a New Era in Fantasy Sports
The moment we have been waiting for is finally here. The TradeStars Mainnet launch is closer than you think.
But wait, we have more updates to share with you first.
What is TradeStars?
TradeStars is a platform for trading Fantasy Stocks which represent the real-life performance statistics of athletes. Since the value of these stocks is tied to the on-field accomplishments of the underlying asset (athlete), users can use their sporting knowledge to identify and purchase Fantasy Stocks of athletes which promise the most potential upside.
TradeStars is built using blockchain technology, and all transactions (buy, sell, or trade) are permanently recorded on a decentralized and immutable ledger. Users can purchase any amount of Fantasy Stocks, and enjoy complete ownership over the purchased assets till the time they decide to sell or trade them.
TradeStars DEX
TradeStars is the first Decentralized Exchange (DEX) for trading Fantasy Stocks, where economic Decentralized Finance (DeFi) incentives are connected to real world events.
This is achieved by bringing the rapidly growing NFT industry together with the world of Sports, a common passion which unites billions of people all over the world. The Fantasy Stocks on TradeStars DEX represent the tokenization of real-life statistical data of athletes’ performance through Fractional NFT Markets. Users who invest in shares of a NFT can earn rewards based on the outcome of real-life sporting events.
The TradeStars DEX will be a state-of-the-art trading platform, and provide an unparalleled user experience. Through integration with Polygon (erstwhile Matic), TradeStars DEX will support almost instant and gasless transactions. Moreover, the price of the Fantasy Stocks will be automatically adjusted through a bonding curve based price discovery algorithm, which will set the price as per the assets’ supply vs demand market dynamics.
Testnet to Mainnet
The TradeStars Mainnet launch comes after an extremely successful Testnet evaluation phase by our community in the month of January. We had also launched the TradeStars bug bounty program, where our community members could win a total of 100,000 TSX rewards for exploring the platform, reporting bugs, and providing general suggestions for improving the user experience.
We have been genuinely thrilled by the public participation in the TradeStars Testnet. In a span of 4 months, 32,000+ users explored and evaluated the Testnet, performing 7,000+ transactions worth over $750,000+ in the process. The feedback we received from our community immensely helped us to fix glitches in the platform and get the Mainnet in shape for deployment within a short span of time.
Purchase & Trade Fantasy Stocks on the Mainnet
TradeStars Mainnet will support fiat and crypto payments for purchasing Fantasy Stocks. Right from Day 1 of the launch, users will be able to deposit and withdraw both crypto currencies (USDT) and fiat (USD, INR and others) into their TradeStars wallets, in order to purchase and trade the fantasy shares of their favourite athletes.
TSX is the utility and governance token of the TradeStars ecosystem. Apart from purchasing Fantasy Stocks, users will be able to stake their USDT equivalent deposits in any of the NFT Markets, and farm TSX in proportion to their stake. TSX can then be used to earn other benefits, such as unlocking new NFT markets, or voting on and participating in the platform governance.
Cricket will be the First Sports on TradeStars
With over 2.5 billion fans worldwide, cricket is arguably one of the most popular sports in the world today. The recently concluded Indian Premier League (IPL), one of the most watched cricket T20 leagues worldwide, reported 268 million viewers over just the first week of the tournament.
Although cricket has been traditionally popular in the United Kingdom and Commonwealth nations (such as India, Australia, South Africa, Pakistan and New Zealand), there has been a growing interest in this sport in other parts of the world as well over the last few years. This is evident from the participation of the United States, Canada, Japan and even some of the EU nations in second and third tier cricket events in the last decade.
The entire cricketing fraternity is now keenly awaiting the inaugural World Test Championship Final, to be played between India and New Zealand towards the end of June. This is the culmination of over 2 years of Test cricket played by the 9 top ranked cricket nations. Keep watching this space to know what exciting events TradeStars has planned to celebrate the event.
Rewards for Early Users
TradeStars will reward the early users who have helped us successfully launch our Mainnet. Our community members who have been actively involved in the Testnet evaluation will earn rewards when they join the TradeStars Mainnet and perform their first transaction. The value of the rewards will depend on the level of engagement of the users with the platform in the Testnet phase.
TradeStars will also launch a Referral Program, where users will be rewarded for successfully referring their friends and family members to the TradeStars Mainnet. We are also planning to launch our own version of IPL in the form of TradeStars Premier League (TPL), which will come with loads of exciting rewards and benefits for users.
And the Big Reveal…
And finally, the news that we have been waiting to share with you all.
Team TradeStars is excited to announce that the TradeStars Mainnet will be launched on, *drumrolls*, 28th June, 2021.
We hope that you’re as pumped up as we are. For any questions or just a friendly Hello, drop by in any of our social media channels. Stick around for more details about TradeStars.
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