20 Oct 202122:27
AMA
FantomStarter AMA Recap

FantomStarter AMA Recap

Myko (CryptoDiffer)Myko (CryptoDiffer)

Hello, everyone!😁

We are glad to meet here:

Maxie, Co-founder & Managing partner

Alex, Co-founder & Managing partner

AlexAlex

Hey everyone πŸ‘‹
Glad to be here and answer as many questions from your savvy community today

MaxieMaxie

Thanks for the introduction Myko, hello Cryptodiffer community πŸ‘‹

Myko (CryptoDiffer)Myko (CryptoDiffer)

Welcome Maxie and Alex, thank you for taking your time today!

MaxieMaxie

our pleasure :)

Myko (CryptoDiffer)Myko (CryptoDiffer)

Let's now start with some introductory questions
Q1: Can you introduce yourself to our community?

AlexAlex

Sure thing, I'm Alex, Managing partner at FantomStarter and the product 🧠 behind the decentralized investment protocol we are building. Have a background of more than 12 years in Software development and co-founded a couple of start-ups both in traditional markets but also crypto projects πŸ˜‰

MaxieMaxie

I'm Maxie, managing partner at FantomStarter, I'm pretty much do whatever that could be done within the company but my stronger points is in the marketing department. Since 2016 I've invested with crypto projects and thats when the idea of FantomStarter begin :)

Myko (CryptoDiffer)Myko (CryptoDiffer)

Great!
Now let's take a look at the project
Q2: Can you introduce FantomStarter to us?

MaxieMaxie

FantomStarter is a multichain investment & rating platform based on Fantom using DeFi and NFTs, not just onboarding crypto projects but also traditional tech startups down the road :)

AlexAlex

To note that FantomStarter is not just another launchpad out there, we have built some incredible team in the past months to help us incubate and accelerate projects that are passing our strict vetting system! Something we are very proud off and an aspect that will definitely allow investors be able to invest in sustainable project through the launchpad

Myko (CryptoDiffer)Myko (CryptoDiffer)

okie, noted)
thanks for the answer
let's pass on to the last introductory question
Q3: Let`s now talk about the milestones you have achieved so far and about your upcoming plans?

AlexAlex

We've been working on our concept since early April-May of this year, hired some very talented people to help us with different aspects of such project and managed to close a first Seed round of investment, while delivering our first alpha version of the platform that everyone can try at alpha.fantomstarter.io

MaxieMaxie

to add to what Alex said, we launched campaigns prior to our public sale launch which will be happening in October if everything goes as planned following with the TGE.

From there, I think you will need to wait until our roadmap v2 to be officially published ;)

Cryptodiffer CommunityCryptodiffer Community

How does project increase the token's value, liquidity and utility ? So that it can lead to an increase in token prices ? What is your plan to make your project stable and provide the highest return for investors in the long term ?

AlexAlex

You should read our FAQ.

docs.fantomstarter.io

There's a burn mechanism built in for investors that want to invest with NFTs. Also there's a liquidity mining program for FS token holders.

Cryptodiffer CommunityCryptodiffer Community

What plans do you have to grow rapidly in terms of users, global market and partners? What are your strategies in building a big and strong community?

AlexAlex

We are now in the phase were we are looking at the biggest and most active communities that participated and shown interest in FantomStarter Public sale Whitelist and start local communities that can help people from different countries understand and read about FantomStarter mission and vision in their own language.

Cryptodiffer CommunityCryptodiffer Community

Do Token holders have right to participate in the governance of the project? On what kind of decisions can they vote on about the project?

AlexAlex

Every FS token holder will be able vote on which projects go on the platform or not if they have been refused by the FantomMinistry you can read more about it here https://docs.fantomstarter.io/how-it-works/fs-community-governance

Cryptodiffer CommunityCryptodiffer Community

What are the ways for your project to generate revenue in the long run? What is the progress of business development and what are some of your commercial partnerships?

MaxieMaxie

There are plenty of ways to monetize in crypto projects, since we are experienced in DeFi, NFTs, and the Investment sector, our business model are versatile in a sense of B2C (FS to Users) or B2B (FS to Projects).

B2C
In the DeFi/NFT sector we could always implement fees to generate income for the company, but that is something at later date to talk about.

B2B
Is simply charging projects or a simple partnership to generate income for our company, although this is something that shouldn't be announced publicly in the meantime.

Cryptodiffer CommunityCryptodiffer Community

What was the biggest milestone your project has? What is plan in the future ?

AlexAlex

Onboard traditional market projects into crypto funding for sure!

Cryptodiffer CommunityCryptodiffer Community

What are your status regarding the audit of your smart contracts and security mechanisms to protect and assure the participants of the ecosystem?

AlexAlex

Audit of our IDO contracts will be performed before we are launching any outside project on our platform.

Cryptodiffer CommunityCryptodiffer Community

NFT is getting more popular now a days. It looks NFT has bright future. So do you guies have any plan to include NFT to your project?

AlexAlex

Sure thing, have a look here on what features FantomStarter NFT holders get πŸ˜‰ Basically you can invest with NFTs, pretty cool, isn't it? https://docs.fantomstarter.io/how-it-works/nft-utility-usecase

Cryptodiffer CommunityCryptodiffer Community

What do you think is the next development trend of the crypto wallet industry? What’s the developmental goal?

MaxieMaxie

We are not in the 'wallet' field so you might be copy pasting this question from another project's AMA. But would like to answer anyway because I find it interesting, the next crypto wallet is the first ones to be able to implement all kind of chains within 1 wallet and able to do fluid transaction over one another chains. Plain and simple

Cryptodiffer CommunityCryptodiffer Community

What strategy will you implement to bring non-crypto-natives into your ecosystem? How do you keep a balance between developing the technology and also improving the value of your token?

AlexAlex

We have taken an approach where we build the UX of our platform not looking at the current launchpads but rather on traditional investment platforms. We think UX and UI is important in order to make the barrier for non-crypto native people to start using our platform

Cryptodiffer CommunityCryptodiffer Community

What is the role of token in the ecosystem? Where can people currently buy it?what would be its used??

AlexAlex

Find more about it here. https://docs.fantomstarter.io/how-it-works/usdfs-token-and-nft-utility

Cryptodiffer CommunityCryptodiffer Community

Only getting users, holders etc is not everything. In my opinion, a project needs to deal with solving a real world issue or problem What is the problem that your project primarily focuses on? Please share with us!!

AlexAlex

Being able to invest early in promising and sustainable businesses without being an acredited investor πŸ˜‰

Cryptodiffer CommunityCryptodiffer Community

Many bIockchain projects are just on paper and have no reaI meaning. What practicaI product is you using? What pIans do you have for a better product in the future?

MaxieMaxie

We're definitely not a vaporware, we have testnets/Alphas up and running live and updated daily - before launching our TGE we will make sure we have our product ready and surprise our supporters with something fun.

We have a 2 years+ product building plan that we have yet to release, or not even in the Roadmap v2, so let me just tell you that we're having fun while building.

Cryptodiffer CommunityCryptodiffer Community

Do you have user manual or short videos that would guide potential users of project to safely navigate your platform?

AlexAlex

This is definitely a good idea, for the moment you can have a look at our FAQ, videos are coming soon https://docs.fantomstarter.io/for-investors

Cryptodiffer CommunityCryptodiffer Community

Where I can get the latest updates or more information about the project?

AlexAlex

Twitter twitter.com/fantomstarter

and of course Telegram https://t.me/fantomstarter

Cryptodiffer CommunityCryptodiffer Community

How can the COMMUNITY supports and help in the success of your project?

AlexAlex

Spreading the word on it with local communities I think it's first step to let others know that there's a site/app/platform out there that is letting them invest their crypto in sustainable businesses πŸ˜‰

Cryptodiffer CommunityCryptodiffer Community

I see that FantomStarter is Not only Providing Investment Opportunities but also "Investment Education",
Can You tell more about it?
What kind of Knowledge you aim to Provide?

MaxieMaxie

Nice catch, so we are initially an investment & rating platform, but we're not here just to build random products and make money, we want to be helpful for the crypto community especially the newcomers who doesn't understand much about the crypto industry.

Therefore we want to create an education platform to educate newcomers in; investing, how crypto works, other financial eds. (there is a gamification that we might want to do regarding this so stay tuned)

Cryptodiffer CommunityCryptodiffer Community

Can you tell me more details on the IDO? The schedule and contribution for each?

AlexAlex

FantomStarter own Public IDO will happen sometime in mid-October. Contribution is going to be $250 for the Whitelisted users! Find more about it here https://fantomstarter.medium.com/the-whitelist-competition-for-fantomstarter-public-sale-is-now-live-on-gleam-f9a99cc1f384

Cryptodiffer CommunityCryptodiffer Community

FantomStarter says it's is pleased to announce that it has started taking new project applicants. This is great, I've couple of new projects with great potentials, can I refer them? Asides launching their token for them, what other kinds of support do you offer them? Will it be possible for project team to make use of your resources and assets for marketing and other operational supports?

AlexAlex

Great question. You can direct them to fill in the form here https://fantomstarter.typeform.com/to/LdPnpf6n

For the a better overview of the services we provide to projects that want to launch on FantomStarter platform you can have a look here https://www.docdroid.net/uovOkNc/fantomstarter-litepaper-v23-2-pdf#page=9

Cryptodiffer CommunityCryptodiffer Community

Do you have a Token Burning plan to increase Token value and attract Investors to invest?

MaxieMaxie

If you do enough due diligence on FantomStarter, we subtly provided information somewhere regarding burning mechanism.

That is purchasing our NFTs, you will need our native FS tokens to be able to purchase our NFTs (FS Keys) and those tokens will be burned 100%.

Another way is when you want to upgrade your FS keys Tier, for example you have a Tier 1 NFT and you want to upgrade to Tier 2, you will need to have your Tier 1 NFT staked along with the remaining of the FS tokens needed, and those will be burned 100% aswell.

In a way, our tokens and NFTs are deflationary, pretty cool huh?

Cryptodiffer CommunityCryptodiffer Community

Q. I think your project is great so how is the way to buy your token? any presale and publicsale?

MaxieMaxie

The Gleam and Meme competition is closed, we are currently finalizing the winners, so the best way to get it next is to actually purchase them off at listings on Decentralized Exchange(s)

Cryptodiffer CommunityCryptodiffer Community

There are Many Investment Opportunitues for Users & Many of them got engage in Rug pools & they say, "CRYPTO IS SCAM" ,
As an Investment Platform, What do You have to say to them?

AlexAlex

As an investor platform, but also as an individual investor I think it's important to do your diligence before putting your money in anything, crypto or other type of investment. It's the #1 golden rule

Cryptodiffer CommunityCryptodiffer Community

Is your project only for elite investors, what about others with small funds, is it open to everyone?

AlexAlex

Both actually, based on your budget you can get either a NFT that allows you guaranteed allocation or lottery chances to get a whitelist in the upcoming projects https://docs.fantomstarter.io/how-it-works/fantomstarter-pass

Cryptodiffer CommunityCryptodiffer Community

One of the major challenges militating against DeFi mass adoption is barrier to entry. Most DeFi solutions are only accessible to those with high level of understanding of blockchain technology. Could you tell us approach

MaxieMaxie

Education and user-friendly interface would help, but it is unfortunate for the older generation. I have experienced great deal of difficulty educating the older generation no matter how simple my explanations are.

There is a saying "you can't teach an old dog new tricks" correct me if I'm wrong.

Cryptodiffer CommunityCryptodiffer Community

I want to support your project, Tell us more about the Ambassador Program and in what ways can we participate ?

AlexAlex

I think the Ambasador program is now full, but you can check the details on it here https://fantomstarter.medium.com/fantomstarter-launches-its-ambassador-program-62ce98c7b499 and maybe be active in our community for a chance to get in πŸ˜‰

Cryptodiffer CommunityCryptodiffer Community

Hello @w00tcake

How does Fantomstarter create or intend to create value for the users in the network?

Is the valuation cap and other TERMS and CONDITIONS in lined with the project's vision?

AlexAlex

For more details on the valuation cap https://www.docdroid.net/uovOkNc/fantomstarter-litepaper-v23-2-pdf#page=30

It's the smallest raise from any recent launchpads out there, while I have yet to see a better team or product πŸ˜‰

Cryptodiffer CommunityCryptodiffer Community

Are you afraid some day there will be another project with more innovative technology can replace your project ?

AlexAlex

No, I think an idea can be copied, but the execution is always different because there's different people in the team. Also timing is important, maybe later on it's too late πŸ˜„

Cryptodiffer CommunityCryptodiffer Community

For a project development first of all main priority is having enough fund. Does your team financially capable to run this project? Do you have enough fund for it's developement Can you tell us that how your project generate the profit?

MaxieMaxie

We have launched a community project 1 year ago which was airdropped 99.8% to the community (the team had similar airdrop size vs the whitelisted airdroppers) and did raised zero (0) capital and that company is still running and in profits.

Does that tell you enough that we can manage our funds well? ;)

Cryptodiffer CommunityCryptodiffer Community

When will the project take place Pre-sale? Where will it be held? If it's possible then Please Share me Pre-sale link

MaxieMaxie

Unfortunately you have missed all of the rounds, because our Meme competition was the last thing we gave chance to the public to be able to participate in our public sale round.

Next is purchasing on listings (DEX)

Cryptodiffer CommunityCryptodiffer Community

You point out that the projects are rigorously selected by a team of analysts and a detailed report is provided to the users, but will this "analysis" really guarantee that these projects are not scam? or would they just minimize the risks?

AlexAlex

You get a report on some of the most important aspects of the investment. There's no opinion on it, it's just researching on cold hard facts.

In the end it's your decision if you invest or not, we will do anything in order to:
1. Provide you with as many details needed from those projects.
2. Taking the steps necessarily in order to make the projects team as transparent as possible

Cryptodiffer CommunityCryptodiffer Community

How did you come up with the idea of creating your Project solution? Was it due to impermanent loss or some similar personal experience that made you understand that there would be room for such solution?

MaxieMaxie

If you're talking about impermanent loss I think that is something the crypto industry as a whole still needs to find a solution to, we are more into an investment platform more than the DeFi, although we are experienced in all the sectors, I think that is something we could work on in the future.

There are definitely thousands of ideas out there but we will introduce what most fits into our branding and business model.

Cryptodiffer CommunityCryptodiffer Community

Hi! πŸ‘»

Is FantomStarter easy to use for Newbie crypto users? Do you plan to do some tutorials for participating to the pools in FantomStarter especially for new users?

@w00tcake @maxiesoetandi

AlexAlex

Yes we do, a great start is to have a look at our documentation https://docs.fantomstarter.io/how-it-works-1

Cryptodiffer CommunityCryptodiffer Community

I learnt of Fantom Starter's proprietary curation score feature and I'm curious to know; what's the reason for creating this proprietary curation score as well as the advantage of it? Also, what are the factors put into consideration in order to determine the score?

AlexAlex

Great question, the score is a set of conditions every project is checked upon. Having this fixed set of rules makes that every evaluation to have the same kind of structural foundation to start the evaluation from.

Cryptodiffer CommunityCryptodiffer Community

What is the role of token in the ecosystem? Where can people currently buy it?what would be its used??

MaxieMaxie

FS tokens usecase:
- Governance (let me expand this: voting for projects, rating projects, access submission to report analysis, etc)
- Purchase our limited NFTs on our platform (stores)
- Liquidity Mining Rewards
- Participation in IDO projects

NFT (FS Keys) usecase:
- Governance (let me expand this: voting for projects, rating projects, access submission to report analysis, etc)
- Participation in IDO projects
- Subject to airdrops to future partnership projects

There are usecases that we can't just reveal at the moment, we want to make sure the tokens and NFTs each has unique and different utility/usecases in the future (I meant in a way if you have the NFTs, there are things you can obtain but not with the FS tokens, vice-versa)

Cryptodiffer CommunityCryptodiffer Community

How do You make sure that You Provide absolute Rug-Proof Investment Opportunitues to users?

AlexAlex

Every project listed has to go through all these steps to be available on our platform https://www.docdroid.net/uovOkNc/fantomstarter-litepaper-v23-2-pdf#page=11

Cryptodiffer CommunityCryptodiffer Community

Could you tell us about the operation of FantomStarter's Tier System? What conditions do FantomStarter users have to meet to be able to join the pools you create?

AlexAlex

All the info needed for the Tiers is here https://docs.fantomstarter.io/how-it-works/fantomstarter-pass

With beautiful NFT pics

Cryptodiffer CommunityCryptodiffer Community

I understand that your specialized team will be the ones to evaluate and analyze the projects before being incubated by FantomStarter, but then what will be the use of the community in its ecosystem? Could it be that they will not have community governance?

AlexAlex

There's both a Ministry/Research process and a decentralized one in order for a project to be able to be listed on our platform. You can read more about it here https://www.docdroid.net/uovOkNc/fantomstarter-litepaper-v23-2-pdf#page=13

Cryptodiffer CommunityCryptodiffer Community

COVID 19 has slowed down many economies around the world but as a crypto business, does it affect you negatively or positively? Are you still on track to achieve your goals or are you planning a new development?

MaxieMaxie

Interesting question, fortunately for me (personally) COVID19 has been a blessing for me, I'm not too much of a travel person but I do see this as an opportunity for the "digital" industry and therefore virtual investments such as stocks, cryptocurrency especially are definitely one of the industry that could grow rapidly even in the next 10-15 years.

You need to have conviction being in the financial sector especially cryptocurrency.

FantomStarter is definitely one of those company that we aim to be one of the biggest in the next 10-15 years. The passion and drive is in me and my teams no doubt.

Myko (CryptoDiffer)Myko (CryptoDiffer)

Thanks for the ama, guys
you've answered a lot of questions

MaxieMaxie

I think I might've leaked some alphas along the way.

Cryptodiffer CommunityCryptodiffer Community

Thanks for AMA @mykocryptodiffer @maxiesoetandi

MaxieMaxie

thank you for having us!