TradeStars AMA Recap
TradeStars is a Fantasy Stocks trading platform powered by the Ethereum + Matic Layer 2 blockchains where users can trade digital assets that represent real-life events’ statistics.
Today we have Christian Hentschel as Founder & Anshul Pareek as Head of Marketing India of TradeStars joining us to answer our questions for the next hour.
I am Christian Hentschel. I am the Founder of TradeStars.
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.
I am Anshul Pareek. I am the Head of Marketing India of 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.
Question from the CryptoRank team
#1. Could you please tell us a little about yourself and TradeStars?
Christian Hentschel: – 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.
#2. There is a strong focus on creating a community-powered decentralized fantasy experience, how will you attract this initial community?
Anshul Pareek: – We have some very exciting set of actions planned.
For example, even in our testnet it’s the community who decide the next Players (Fractional NFT markets) to be unlocked on the platform.
We have daily competitions with the community where the winners get rewarded.
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.
#3. Can you tell us a bit more about TradeStars and it’s features?
Anshul Pareek: – Absolutely! 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.
Questions from Twitter
#1. Is this platform suitable for Crypto beginners?Or does it only appeal to professional users?
Christian Hentschel: – TradeStars is a platform built for the sports fan. Sports enthusiasts can use their knowledge of sports to trade Fantasy Stocks of sports athletes. TradeStars is build on blockchain but users will be able to deposit fiat currency also along with Crypto and Play
#2. I would appreciate it if you could share the next updates with us. What is the most ambitious goal of the project? What should the community look for?
Christian Hentschel: – Nice question. I’d say the most ambituous goal is reframing fantasy sports on the blockchain 🙂
as the ultimate goal. The community should look for a platform where to express their passion around sports.
#3. “STAKING” is one of the strategies to attract users and hold users. Does your great platform have plan about Staking?
Anshul Pareek: – Yes, The TradeStars platform can be considered to be a Decentralized Exchange (DEX) for Fractional NFTs, where economic incentives for users to stake in the game are connected to real life statistical data.
Leveraging our team past experience in the Fantasy Sports and Gaming industries, we created a crypto-economic game based on the trading of virtual assets that would represent real-life statistical performance of sports athletes.
Questions from Telegram
#1. Your website says that the assets values are influenced by real world events, so that means If I have a Messi based assets and he get hurt or cannot play, its value will decrease?
Christian Hentschel: – This would be a bit more complex, but we expect that the price go down because of things like this, as people wont be able to use the player for the contests, maybe sell its shares, and the price will start to go down.
#2. The main Chains that TradeStars use are Ethereum and Polygon, but more chains means more adoption, so have you considered integrate more chains like BSC ?
Christian Hentschel: – Yes, agree. We have this considered.
#3. Do we as investors of your tokens have the right to participate in the governance of the project? On what kind of decisions can they vote on about the project?
Christian Hentschel: – We’ll put this into consideration also. Some ideas, could be adding other sports, changing transaction fees, new features, etc.