Recap of the TradeStars AMA with Blockchain Space
On Wednesday, June 16th, we had the pleasure to welcome our Telegram chat:
Christian Hentschel, The Founder of Trade Stars, and
Anshul Pareek, The Head of Marketing at TradeStars.
We asked them questions about the development of TradeStars.
INTRODUCTION
Q~ Thanks for joining us today @chentschel and @OxAnshul. Please start off by introducing yourself to the Blockchain Space community and your role in the team?
A~
Chris : 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 industry. I contributed to many projects like Decentraland.org , Decent.bet, Popchest, and some small others before starting TradeStars.
Anshul Pareek : Greetings to the Blockchain Spaces fam!👋🙏
Sure, 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.
Q~ Tell us what TradeStars is, how it works, and what kind of value the platform adds to the ever expanding DeFi and NFT ecosystem ?
A~ TradeStars 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.
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.
Q~ Can you share with us detailed information on the $TSX tokenomics and it’s usecases ?
A~ Sure!
TSX is the TradeStars main governance token and, I believe, the most important piece in our ecosystem. The token economy aligns our team and collaborators and its utility incentivizes our community by rewarding participants in the TradeStars platform.
The TSX is used to reward liquidity providers, but it also has in-game staking utilities and governance power. Read More details at
With many utilities and use cases of TSX, some reasons why YOU should own TSX:
🗳Have a vote in platform governance
💵Earn dividends from transaction fees
🏏In-game benefits and reward programs
🎫Get access to special events and NFTs
📈We are in a sweet-spot in the market
More details:
https://t.me/TradeStarsCommunity/269
Q~ Can you give us an update on what the team at TradeStars has accomplished till date and your future plans for TradeStars ?
A~ Sure, we have had an very exciting journey and are looking at more excitements with new releases. To name some:
- We raised 1.67m in our private round. Read More:
- We had our IDO on 4th May on ZeroSwap and BSCPad
Read More:
- We have announced our mainnet launch date which is on 28th June.
Details:
Get more detailed road map here:
https://t.me/TradeStarsCommunity/266
QUESTIONS FROM BITCOINTALK
Q~ You say that each Athlete’s real-life performance is tokenised and they can be purchased or sold, how is the value of this digital assets influenced and how will the price of the Stocks be adjusted?
A~ The prices are directly correlated with market supply and demand. And managed by the TradeStars smart contracts.
It follows a bonding curve, and to explain in a few lines works similar to uniswap for example.
I believe there’s a detail for the guys that want to dive deeper into the concept on our whitepaper :
https://whitepaper.TradeStars.app
Q~ Are you open to receiving feedbacks, can users explore the platform, report bugs, and provide general suggestions for improving user experience on TradeStars?
A~ As a team, we believe that we can receive the best feedback from our users. We have been successfully running our testnet from 4 months where users can login on testnet.tradestars.app, where users get virtual coins to explore the platform and verified feedbacks get rewarded.
The idea is to let the users experience TradeStars and help us improve it. Even in the mainnet users will have a chat option where they can ask questions and suggest feedback directly to the internal team.
QUESTIONS FROM TWITTER
Q~ Fantasy Sports market size reached $13.9 billion in 2018 and is expected to reach $33.2 billion by the end of 2025, How do you plan to market TradeStars to billions of sports fans all across the globe and convince them to switch from the conventional fantasy sports games they are used to?
A~ That’s an interesting question!
Our first priority is to provide users with with an experience that they become our ambassadors.
On the other hand, at present we have strong communities on telegram and twitter. Our plan is to expand them further and as a next step create local communities for users not understanding English.
Sports itself is global which will help us reach out globally, in future we have plans to integrate TradeStars with different teams, players, clubs and leagues.
Additionally, we intend to grow our team and start focusing on specific geographies.
Q~ Why did you select Cricket to be the first Sports on TradeStars, also regarding Governance can TSX holders vote on what sports to be the next to be on Tradestars?
A~ We decided to go with Cricket for many reasons.
First, it’s the second most popular sport in the world.
Billons of fans and mostly concentrated on one geography. Which makes things more easy when you start and try to learn on how to make a better product. For sure we’re learning. From our users, From our product.
Then, in India fantasy sports are regulated and so we have a clear legal landscape to develop.
And important also is language in which we communicate, That’s also English now. So is important as we are a small team still.
To focus as much as possible on the product without needing to deal with many languages, sports, geographies and Cricket is a huge market.
The users will be able to decide next by proposing and voting with TSX, next features and sports, yes.
Q~ From what I can understand, Tradestars games is based on an Individual Athlete Model (IAM) which is tied to an individual athlete performance. Since cricket is a team sport, why did you choose this approach instead of a team based model?
A~ We are tracking individual performances and you get to buy/sell fantasy stocks of the athletes. Instead of picking from an available pool of players like in traditional fantasy sports, here you build your fantasy portfolio.
Ultimately the portfolio will have a collective performance and the added fantasy points from that portfolio will make you win the fantasy contests or dividends.
QUESTIONS FROM TELEGRAM
Q~ What should long term investors expect from TradeStars in the long run ?
A~ We are building a Nasdaq for fantasy sports. Long term investors should think this platform as Draftkings on the blockchain. We have an unique product proposition. Blockchain allows us to have great strategic advantages over the traditional fantasy sports operators.
We’re adding more Sports and expanding to other regions in the following months/years to come.
We will add millons of users, starting with Cricket, Soccer and letting also the community to decide on where to go and what we should do next.
Q~ I saw that TradeStars works in Cricket but does TradeStars have plans to add other sports like soccer, basketball or tennis?
A~ Yes, Cricket is just the starting point of the journey, we will for sure add more sports to TradeStars and we plan to do that through governance and community voting.
Q~ Almost 80% investors have just focused on price of token in short term instead of understanding the real value of the project. Can you tell us on motivations and benefits for investors to hold your token in long term?
A~ Look at the market, the opportunity we have ahead. I believe token price will follow once we fully deploy the product into mainnet and start acquiring users and showing real usage metrics.
Q~ About TradeStars structure. Is it decentralized? Can You tell us about your plan to manage governance?
A~ We are announcing the governance platform and the first proposals where TSX holders can vote in some days. Also, first the proposals will be allowed from the TradeStars team, and we will move into a more decentralized model with time, once we get the first versions of the product stable and the team to react to whatever the community can propose in future.
Q~ Can you list some of the amazing features that you just implemented in the current testnet and how it will be of advantage to us?
A~ We are continuously working on it, in testnet you can;
Participate in Player Unlock, Select favourite players, Swap players, Chat with Support and with mainnet users will be able to trade with live money and deposit in both Crypto and Fiat.
CONCLUSION
We have our mainnet launch on 28th June.
For more information stay tuned:
It’s really nice having the TradeStars project in here!!!
You can check out their Website for more details. You can also follow them on Telegram and Twitter to keep up to date with all things relating to TradeStars.
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