Polkastarter AMA Recap

Polkastarter AMA Recap

CryptoDiffer team

Hello, everyone!

We are glad to meet here 

Daniel Stockhaus  (CEO of Polkastarter)

CEO of Polkastarer, Daniel Stockhaus

Hi everyone, really great to be here and thank you for the opportunity to present Polkastarter. Happy to answer any questions you have over the next hour. Looking forward to it.

CryptoDiffer team

Q1:Can you introduce yourself to our community ?

CEO of Polkastarer, Daniel Stockhaus

Sure. I am originally from Germany who moved to London at the tail end of the .com bubble. That’s how I was thrust into the tech industry. Back then, I was mostly into web design, development & marketing. That eventually led me to start my own e-commerce company that, at its peak, did $20m in revenue per year and had 1m+ customers. After I sold that, I got heavily into blockchain. This was around 2017.

At that time I was a part of the crypto media. I interviewed ~100 blockchain founders to find out what makes them tick. It was a great experience that led me to some strong beliefs about what it takes to be a blockchain founder.

The common theme I found was that the most successful founders had a strongly held belief in their own vision, but were willing to work within a broader community to make that happen. The best projects in the space share the common goal of wanting to make the world a better place. And that’s what we set out to achieve at Polkastarter.

It also gave me an opportunity to be present at most major conferences (over 80 in 3 years) and meet ups over the last years. By far the most impressive were the Web3 Summits in Berlin. Seeing the Web3 community come together, present their projects and share ideas was really impressive. Last year especially was a highlight, when Gavin Wood introduced Substrate for the first time publicly. It was amazing to experience this first hand and further strengthened my belief to be actively involved.

CryptoDiffer team

Q2: Can you briefly tell us what is PolkaStarter in 3-5 sentences?

CEO of Polkastarer, Daniel Stockhaus

Polkastarter is a DEX built for cross-chain token pools and auctions, enabling projects to raise capital on a decentralised, permissionless and interoperable environment based on Polkadot. Polkastarter can be used for startup fund raising, auctions and private OTCs. We are a decentralized project with team members in Berlin, London, Oporto and Lisbon.

CryptoDiffer team

Q3: Let`s now talk about the milestones you have achieved and about your upcoming plans?

CEO of Polkastarer, Daniel Stockhaus

We’ve been working extremely hard over the last few weeks and will continue to do so

In terms of Business and Marketing:
– Launch our website (www.polkastarter.com)
– Close our private-sale at 30x oversubscribed
– Close our seed sale with VCs and investors that can offer active technical, marketing and community building contribution we need until we get to MVP
– Built an initial Polkastarter community that is vibrant and excited about our vision. We really appreciate all their support and it’s a good foundation for us to build on.

and of course, most importantly Tech:
– Onboard a great CTO who comes w +15 years experience in launching startups and product development. His main focus is on working with our development team to deliver on our roadmap
– Onboard another blockchain developer with +4 years experience
– Onboard a UX/UI designer – We are aiming to make Polkastarter as easy to use as possible, so everyone can have an amazing experience
– we kickstarted the development of our MVP (smart contract, backend and frontend) and we are very well on track

We are still at an early stage, and while the milestones dont look like huge leaps, they are important strides that help us get more ready for the full vision of Polkastarter

In terms of upcoming plans, we are working towards building partnerships with amazing companies, increase our team, Uniswap listing and of course work towards the launch of the MVP

CryptoDiffer team

Awesome, a lot of updates to come out!

Thank you for great answers!

I think it is time to start community questions round!

Cryptodiffer Community

do user need to do kyc in order to use Polkastarter platform?

CEO of Polkastarer, Daniel Stockhaus

Hi Vario, that’s a great question. Polkastarter will be permissionless, so any project has the ability to launch their token sale on our platform. Additionally, we will provide a whitelist feature, so any project which wants to use that capability has the option to do so.

Cryptodiffer Community

What is the Utility of POLS Token in Polkastarter Ecosystem?

CEO of Polkastarer, Daniel Stockhaus

Hi Sicxa, yes, the utility is a question we get asked a lot. The main utility is Governance and fees. Token holders will be able to vote on product features, token utility, types of auctions and even decide which projects get to be featured by Polkastarter. Transaction fees will be paid in POLS. For more information please  check our token page www.polkastarter.com/token

Cryptodiffer Community

On moving forward through your roadmap, what are your most important next priorities? Does your team have enough fundamental (Funds, Community, ect) to achieve those milestones?

CEO of Polkastarer, Daniel Stockhaus

Hi Lucky, thank you for asking that question. We are currently aiming to launch our MVP to establish best practices and give the chance for projects and community members to experience our product as soon as possible. We are aiming to have this ready by end of this year. After that we are planning to migrate over to Polkadot and we are already talking with several companies and will make an announcement on that soon. Stay tuned!

Cryptodiffer Community

While you build your project, do you take into account community feedbacks and demands?

CEO of Polkastarer, Daniel Stockhaus

Hi Forest, yes, the community is a major part of what we are trying to achieve. Anyone who will hold POLS will be able to have a voice and influence the future of Polkastarter.

Cryptodiffer Community

As Asian is the largest democracy in the world, how you are seeing Asian Market for project adoption and growth?

CEO of Polkastarer, Daniel Stockhaus

Hi Nico, thank you for joining the AMA. As you know, Asia is by far the biggest market in the world and is at the top of our priority list. We are currently working on launching several community chats for several languages/countries and are aiming for all our communication to be available there as well. Additionally we are aiming for Polkastarter to be multilingual.

Cryptodiffer Community

Many newbies want to learn project and are interested in blockchain technology ,  Do you provide educational videos related to your project and blockchain technology guidelines?

How friendly is your platform to new users?

CEO of Polkastarer, Daniel Stockhaus

Hi Ahmad, that’s a great question and actually something we’ve been discussing with the team today. Especially with Polkastarter just starting, I think it is imperative for any new project on their platform to provide as much education as possible, so everyone can fully understand the benefits of why we chose Polkadot. We’ve already started building a content calendar and are aiming to publish articles over the following months to provide as much knowledge as we can to our community.

Cryptodiffer Community

Do you have any plan on listing on other exchanges apart from Uniswap?

CEO of Polkastarer, Daniel Stockhaus

Hi Hakeem, yes, we’ve been in discussions with several CEX (centralized exchanges) over the last few weeks and we are hoping we can make an announcement on this very soon. We’ve had a great response from each one of them.

Cryptodiffer Community

Defi is greatly admired now. How Currently attracting real users and mass adoption is a problem for Blockchain projects. How to solve this problem?

CEO of Polkastarer, Daniel Stockhaus

Hi Termux, thank you for asking this question, which I think is one of the most important. We have been very careful in our seed and private sale on choosing strategic partners, who will help and support us in our long-term vision. We want to make sure, that everyone has heard of Polkastarter, understands what we are trying to achieve and helps us in building a better DEX. Some of the features we will have are Cross-chain swaps, fixed and dynamic swaps, anti-scam features, full KYC integration, a governance model and permission less listing.

Cryptodiffer Community

DEX like Uniswap on Ethereum blockchain is getting very expensive, will Polkastarter services become more affordable?

CEO of Polkastarer, Daniel Stockhaus

Hi, anonymous, this actually brings me to the main reason why we are building Polkastarter. While we think that Uniswap is great and has brought a lot of adoption into the space, it has brought certain issus with it, like high gas prices. Polkadot is a Proof of Stake blockchain system, which means that it will be much cheaper and faster to do transactions than Ethereum in its current state, which is Proof of Work. Once we migrate Polkastarter over to the Polkadot ecosystem, fees will be much cheaper and the overall experience much better.

Cryptodiffer Community

What innovations does Polkastarter offer in DEFI? How is Polkastarter changing the new DeFi ecosystem and what are the plans for the next few years?

CEO of Polkastarer, Daniel Stockhaus

Hi Andry, thank you for your question. Polkastarter has a unique value proposition in the DeFi space. The project offers cross-chain swaps, fixed and dynamic swaps, anti-scam features, full KYC integration, a governance model, and also permissionless listings. No other product that we know of offers these features, so we hope that we can help lead to increase in global DeFi usage!

Cryptodiffer Community

Which oracles will Polkastarter use to get accurate data? Chainlink or maybe DIA? How do you plan to prevent oracles from providing false information?

CEO of Polkastarer, Daniel Stockhaus

Hi Tanya, while I can’t reveal, which of the oracle services we will be using, I can say, that we are already in touch with several of them and are hoping to make an announcement on this within the next 2 weeks.

Cryptodiffer Community

📌 Considering that 5 % of the total supply is destined to Legal effects, can you tell me How you manage the legal regulations? 

📌 The Uniswap listing is soon , so can you give us a date that when this is gonna happen? The Private sale Ends? or there still exist a chance to purshare POLS tokens?

CEO of Polkastarer, Daniel Stockhaus

Hi Jade, yes, we’ve completed the seed and private sale and had an overwhelming demand. We are really humbled by the support we’ve received thus far and will work extra hard to make sure, that we repay the confidence our investors have put in us. Additionally we are looking forward to working with many of them to fulfill our vision. We are currently planning to launch our Uniswap listing at the end of September. We will publish the date at least 2 days prior, so please follow our announcement channel.

Cryptodiffer Community

🔔 The main problem in most of ”DEX” is Liquidity. How does Polkastarter solve liquidity problem?

 🔔 Why did Polkastarter choose to build on Polkadot ecosystem? What’s the advantage using Polkadot for Polkastarter?

CEO of Polkastarer, Daniel Stockhaus

Hi Rembrandt, great questions. Our DEX product is a little different than orderbook dexes like IDEX or AMM Dexes like Uniswap or Balancer. Users will come to Polkastarter when they are looking to launch their token in a fair and transparent way, which is actually one of the biggest use cases for Uniswap today, though we think there are some issues with the model that we think we can improve.

As for why we chose Polkadot, I strongly believe that when choosing a blockchain to build on, it’s important to build with a set of tooling that was imbued with the same values that I find essential to effective blockchain building. To me, that means I look for a founder with a strongly held belief in their own vision, but who are also aware that they need to work within a broader community to make that happen. Substrate is an excellent example of this. I was there last year when Gavin launched Substrate at a Web3 conference in Berlin. You could feel the buzz in the building that day. Its vision is inclusive, which means it was built to interoperate with Ethereum. We can launch Polkastarter as a minimum viable product (MVP) on Ethereum and migrate over to Polkadot quickly with the help of partners, which we will announce over the coming weeks.

Cryptodiffer Community

What is the structure of the Polkastarter company? Is this a decentralized open source protocol that anyone can contribute to? If so, how is the management planning?

CEO of Polkastarer, Daniel Stockhaus

Hi Tanya, I am really proud of the team we have put together. We are a distributed team that is very passionate about blockchain. Our goal is to create a DEX built for cross-chain token pools and auctions that enables projects to raise capital on a decentralised, permissionless and interoperable environment based on Polkadot. This vision unites us, drives us forward and informs everything we do together as a team.

I can see, that we have a lot of tech questions. We are currently working on several articles, which we will publish over the following days, which will answer many of these. Please follow our announcement channel or our medium channel. We will try to provide as many answers as we can.

Here are the links, just in case: https://t.me/PolkastarterAnnounce and https://medium.com/@polkastarter

CEO of Polkastarer, Daniel Stockhaus

I really want to thank you all for your questions and support and hopefully we can arrange another AMA soon.

Cryptodiffer TEAM

Thank you Daniel for your time, great answers!

Really appreciate it! Thank you everyone who took part today!

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