02 Sep 202010:08
TradeStars AMA Recap
Cryptodiffer TeamHello, everyone!😁
We are glad to meet here:
Christian Hentschel, Founder
Anshul Pareek, Head Marketing India
Christian HenschelHi everyone!
thanks @makscryptodiffer for hosting us here today .
Anshul PareekHey CryptoDiffer Community,
Great to meet you!!
Cryptodiffer TeamWelcome Christian and Anshul, thank you for taking your time today!
Our team has prepared some questions for you to start with!
Let`s start with the introduction !
Q1. Could you please tell us a little about yourself and TradeStars?
Christian HenschelYes, first thanks to all CryptoDiffer community for this AMA.
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 side. I contributed to many projects like Decentraland.org, Decent.bet, thepopnetwork, and some small others before starting TradeStars.
Anshul PareekGreetings to the CryptoDiffer 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 4 years. I have prior experience of consulting brands like Marico, Wipro Consumer Care, Officer's Choice Blue Whiskey & ITC to name a few. My expertise involves strategy & planning, brand management, social media and content marketing.
Christian HenschelTradeStars is a Fantasy Sports platform powered by the Ethereum and Polygon layer 2 blockchains where users can trade digital assets that represent real-life events and athletes’ performances.
We are gamifying DeFi economic incentives with a fantasy stocks platform where users can express their passion for sports, compete against each other with true digital ownership, transparency, liquidity, and decentralization.
Cryptodiffer TeamPerfect, thank you for an answer!
The second question from us is:
Q2. There is a strong focus on creating a community-powered decentralized fantasy experience, how will you attract this initial community?
Anshul PareekWe have some very exciting set of actions planned.
For example, even in our testnet it's the community decided the next Players (Fractional NFT markets) to be unlocked on the platform.
In the coming months we will have leaderboards and Fantasy Contests with daily, monthly and in special gaming contests rewards.
Users will be also able to stake their TSX tokens to enter the contests.
Real-time portfolio rewards, referral/affiliate campaigns, adding to the dividends distribution, are some of the actions to attract the community.
thank you for an answer
Let's talk more about Tradestars!
Q3. Can you tell us a bit more about TradeStars and it’s features?
TradeStars is the Nasdaq for Fantasy Sports. 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 have implemented in current testnet are.
- Almost instant + gasless transactions - Thanks to Polygon guys!
- 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.
Many more to come soon!!
Cryptodiffer Teamthank you for an answer
The next question from our team is
Q4. What are the major milestones TradeStars has achieved so far and what can we expect from you guys in the future?
Christian HenschelLaunched TradeStars v1 in Jan ‘20 before COVID hit sports in March. We step back a bit then and use the time to focus on strategic partnerships and reaching out to what could be next verticals to add such e-sports in the meantime.
Since sports are back hopefully for good now, since september we resumed at full speed our original plans.
So, last December we launched the v2.0 testnet in parallel with a bug bounty campaign that rewards the users who help us improve the platform by finding bugs or making suggestions for improvements.
Community members can join the same with more details here: [https://medium.com/tradestars/tradestars-2-0-testnet-release-b2b5dff29ec2](https://medium.com/tradestars/tradestars-2-0-testnet-release-b2b5dff29ec2)
April ’21 we target to launch TradeStars v2.0 on mainnet that will be loaded with exciting features and pretested with the community to give an enhanced experience.
Once the mainnet is launched we will have additional features and new sports additions almost, daily fantasy contests, in-game TSX staking rewards, and we will also be listing the TSX token for trading late April.
Next, along with the mainnet launch, is our Token Generation Event and the public pre-sale that we will announce soon.
Cryptodiffer Teamgreat! Looking forward to it!
We have one more interesting question for you:
Q5. Can you tell us a little bit about how your experience was building on Polygon and what are the advantages of TradeStars working with a Layer 2 like Polygon?
Christian HenschelYes, sure. Fantastic!
We needed a way to solve mainly 2 things that seemed difficult at the time we started with the TradeStars idea. The first is how to make a near real-time user experience by using the Ethereum blockchain where the average transaction times are about 20 secs.
The second -huge- issue was the gas cost for the transactions. This makes impossible micro transactions. The kind we would like to happen in a game like this where users can invest / divest a very small amount of money per transaction. It’s a no go if you want to invest / divest $1 and transaction costs about $5, $10 or more.
A third thing also arises from blockchain use cases that’s connected with this. Users always need to have the native blockchain coin to pay for these transaction fees.
Well, we manage to seamlessly solve all these HUGE issues for having a great user experience by using Polygon. We can provide near real time transactions, lower the cost for each by 1000x compared to ethereum mainnet.
Now our users just login with an email address and use a blockchain based game as if they were using any other app. No need to know about signatures, wallets, private keys, etc..
Cryptodiffer TeamGreat stuff!
Before we conclude, I think there are many in the community who would love to join the TradeStars community and stay up to date with all the news. What’s the best way to keep in touch?
Anshul PareekWe would love to invite all the interested members.
Reaching out to our telegram group: https://t.me/tradestarsOK , or by following our twitter: https://twitter.com/tradestarsOK
Best is explore TradeStars: https://tradestars.app/
Cryptodiffer TeamThank you for such detailed and interesting answers!
It is time to move to the community questions part.
Anshul PareekThank you
Cryptodiffer Community🟢 Do you plan to incorporate Tennis into TradeStars? Tennis has millions of fans too. I would like to unlock Roger Federer, is that possible?
Anshul PareekYes, we have a plan to add more sports including Tennis but we are launching with Cricket followed by Soccer & esport. I can assure you we will have tennis soon after these.
Cryptodiffer CommunityThe road map tells us ''what you have planned until 2021''❓ with this being crypto that’s a very short road map‼️ What are the plans for the future, and do you hope to do❓
Christian HenschelThis is very important, thanks for the mention. and we're working to publish a new home and clear roadmap to tell our community and people interested in the project, very clear where we are, what we already acomplished and the next steps.
You made this AMA receiving very interesting questions about your technology, what is the feedback you want to receive from us as a community?
Christian HenschelThe most important feedback is the validation of the vision and idea. We are proposing a Fantasy Sports community governed, transparent, secure, descentralized platform.
Cryptodiffer CommunityAmbassador helps a project to achieve their goal and towards mass adoption. So, do you have an ambassador program too? If yes how can I participate and be an ambassador?
Christian HenschelI agree, and we now have a team thats working on this .
Q1-Can I buy stocks from more than one athlete?
Q2-How do you select sport stars to trade?
According to community preference?
Anshul Pareek1. Yes, you can buy any number of stocks of a player you want.
2. We collect data form all the major league for the particular sport and list the players, user can add initial liquidity to unlock the athlete and the nft is open to trade for all.
Please go and explore on : testnet.tradestars.app you will get virtual tokens to trade.
Cryptodiffer CommunityTradeStars is a different project that uses the concepts of NFT and Sports. So, what tools will you use to influence the Sports world and draw it into your project?
Christian HenschelI would say the most important tool will the the TSX token. As the main unit economic, and being a comunity owned platform, a good distribution of the TSX will allow us to enable great partnerships and deals that will favour the community as whole.
Cryptodiffer CommunityIs this project a Global project ?
Can local communities partake in it ?
Anshul PareekYes, it is a global project and everyone is invited to participate.
Cryptodiffer CommunityQ:Chiliz is token for sports,They have very good roadmap, My question is do you have a plan to have a partnership together? Or do you think they are your biggest competitor?
Christian HenschelI think Chilliz caught the attention recently. Its been there for a while now, first as a platform of rewards for soccer fans, and now i believe they are adding NFTs. What we're proposing is a fantasy sports, to me is a different concept from start. But eventually there could be some points of contacts that could be beneficial for mutual cooperation i believe.
Cryptodiffer CommunitySoutheast Asia is a very vibrant market and many project developed here so what do you think about Southeast Asia and do you have any plan to develop here?
Christian Henschelabsolutelly! We have great plans and is one of our main target markets 🙂
Cryptodiffer CommunitySecurity & User Interface are the Essential Aspect that Users see on a platform. How has you platform worked on this? Is Platform suitable for Newbies in the crypto world?
Anshul PareekThe concept of blockchain itself answers you question on security & we are making efforts to give our users the best UI.
We have made sincere efforts to make it a product for both industries web3 & web2. When we launch on mainnet users will also have the feature to deposit in fiat currency.
Additionally your suggestions are always welcome.
Cryptodiffer CommunityWhat is the role of Player Token and how can basic user make money in your ecosystem?
Anshul PareekUse your knowledge of sports, create a portfolio with performing players and buy low/sell high
Cryptodiffer CommunityCan you list 1-3 killer features of TradeStars that makes it ahead of its competitors? What is the competitive advantage your platform has that you feel most confident about?
Christian HenschelI'd say the Fractional NFT markets implementation, Liquidity Mining of the TSX, Layer 2 and FIAT on-off ramp ready
Cryptodiffer Community1. What are the benefits of Buying an athlete tokens in ICO?
2. If India bans Cryptocurrency are we able to play tradestars by indian fiat currency?
Anshul Pareek1. Buying at ICo makes you the first buyer that means you buy the tokens at the lowest cost, thus make more profits.
2. Yes, you can deposit in INR and trade/play on TradeStars.
Cryptodiffer CommunityWhat is TradeStars in a few simple sentences, For those of us who are just beginning to understand the world of Crypto?.
Christian HenschelTradeStars is a Fantasy Sports platform. Users can trade digital assets that represent real-life events and athletes’ performances. We're enabling a DeFi gamification system with economic incentives for our users based on their passion for sports.
Cryptodiffer Communityhow about TradeStar airdrop program, tesnet program n mainnet program? where i can see this updtae?
Anshul PareekFor the updates join our community https://t.me/tradestarsOK and announcement channel https://t.me/TradeStarsCommunity
Cryptodiffer CommunityWhat is the future trend of DeFi, in your opinion? What is the biggest flaw DeFi is facing today? And is Your Project looking to solve the problem?
Christian HenschelI’d say, the costs . But future is bright and there are many ideas and solutions already. I expect huge adoption for next months to come as more platforms are enhancing the scalability
Cryptodiffer CommunityCan you tell us about your plans for 2021 and for long-term? what you are currently focusing on and are you going to expand the list of big exchanges?
Anshul PareekWe have many ideas and soon to be released a detailed roadmap. But to summarize:
- Planning TradeStars v2.0 mainnet and listing our token TSX on DEX by April ‘21.
- Add Soccer, and Esports by Q2 - Q4 this year.
- Our main goal is to end the year with 1.000.000 users on our platform.
- New features announcement throughout the year for better user experience.
We will soon be officially announcing our roadmap so Stay Tuned with our official channels. [https://t.me/tradestarsOK](https://t.me/tradestarsOK)
Cryptodiffer CommunityYou say "make money with your sports knowledge" but can you really tell us a little more about the options that users have to win with TradeStars? can they only participate in one sport? or will general knowledge be required of all?
Anshul PareekYou earn in more than one way
1. Buy low sell high
2. Earn Dividends
3. Earn via Referral
4. Earn Through Reward Program
You can choose to participate in one or more sports.
Cryptodiffer TeamAll right great answers today!
Thanks for your time
Anshul PareekThank you for having us here @makscryptodiffer.
We are overwhelmed with the response we have received.
To all who we could not answer because of time constrain please join our community we will answer your questions.
Thanks again all!
Christian HenschelThanks everyone! Thanks for hosting us @makscryptodiffer and thanks the community for the interest!