PolkaBridge AMA with @tehMoonwalkeR

9 min readMay 14, 2021

PART 1. Introduction of PolkaBridge project and community questions.

This is a recap of the ask me anything (AMA) session held at tehMoonwalkeR — a vibrant crypto community for PolkaBridge on May 04 at 10:00 PM UTC. PolkaBridge is the first decentralized bridge between the Polkadot platform and other blockchains. It features or plans to feature deflationary farming, launchpad, NFT marketplace, cross-chain DEX, lending and predictions platform etc.

Attending the AMA are the representatives of the project:

Cyclese — @cyclese_polkabridge — Co-Founder of Polkabridge.

From tehMoonwalkeR, we are hosted by:

Holliday — @CaliRanchCrypto — Moderator, tehMoonwalkeR

Cyclese | CEO & Co-Founder PolkaBridge (Never DM First)

Hello everyone

Holliday

AMA with PolkaBridge starting now.

Cyclese | CEO & Co-Founder PolkaBridge (Never DM First)

Great . can’t wait

Holliday

Welcome, thank you for being here today.

Holliday

Looking forward to learning more about your project.

Cyclese | CEO & Co-Founder PolkaBridge (Never DM First)

Thank you tehMoon to give me a chance today

Holliday

Please take a minute to introduce yourself.

Cyclese | CEO & Co-Founder PolkaBridge (Never DM First)

sure

I’m Cyclese, from Singapore. I graduated from NUS with a fee bachelor’s degree in computer science.

I’m CEO & Co-Founder of PolkaBridge

Before I created PolkaBridge, I was a web and mobile developer with 5 years of experience in a blockchain company.I participated in investing cryptocurrency market in 2017, so I have so much experience in cryptocurrency investment.

You can visit PolkaBridge Official group at @polkabridgegroup

Thanks all guys

Holliday

I have also been in since 2017

So what is Polkabridge?

Cyclese | CEO & Co-Founder PolkaBridge (Never DM First)

Before answer this question, i want to give some information about social media of Polkabridge

Holliday

For sure

Cyclese | CEO & Co-Founder PolkaBridge (Never DM First)

Our website https://polkabridge.org/

Twitter https://twitter.com/realpolkabridge

Telegram https://t.me/polkabridgegroup

PolkaBridge is a decentralized all-in-one financial application platform. The PolkaBridge ecosystem is expected to include crosschain AMM, Farming, Lending, Fundraising platform (Launchpad), Prediction, NFT, and more. All products will be developed with Polkadot in center.

Holliday

Thank you

Cyclese | CEO & Co-Founder PolkaBridge (Never DM First)

One of PolkaBridge’s most noticeable product is PolkaBridge DEX — a decentralized exchange that allows users to swap tokens on Polkadot to other ones on other blockchain platforms without any centralized organizations. In addition, with the smart farming mechanism, liquidity providers can earn more rewards than they think.

— finish

Holliday

I noticed a lot of these features on the road map, which is actually planned all the way into 2022 correct

Cyclese | CEO & Co-Founder PolkaBridge (Never DM First)

yes, it’s our long-term development

Holliday

Can you elaborate a bit on the smart farming?

How does this differ from basic farming?

Cyclese | CEO & Co-Founder PolkaBridge (Never DM First)

yes, it’s different

The rewards of Deflationary farming come from transaction fees. When users transfer token from A to B, there are 5% will be detached and 90% of them will be burnt and 10% will be go to farming pool.

that makes the value of the token even more precious. And the total supply of tokens will be decreased time by time

Holliday

Very interesting

Cyclese | CEO & Co-Founder PolkaBridge (Never DM First)

yes. you can join our Deflationary Farming at https://farm.polkabridge.org

Holliday

okay, this brings me to the token

Cyclese | CEO & Co-Founder PolkaBridge (Never DM First)

Farming contract was audited by Certik

and TVL more than 3M $

Holliday

What other utility will it have?

Cyclese | CEO & Co-Founder PolkaBridge (Never DM First)

yes of course

Holliday

Very good.

Cyclese | CEO & Co-Founder PolkaBridge (Never DM First)

some use case of PBR token

1. Launchpad: To participate in future projects on PolkaBridge Launchpad, a user must hold a certain amount of PBR to get whitelist and join private pool

2. Rewards for farming & staking

3. Governance: PBR holders have the right to vote to change parameters, features and development roadmap of the PolkaBridge ecosystem in the future.

4. Lending fee: Using PBR as fee to borrow on PolkaBridge Lending, the user will receive a 50% discount, and the remaining 50% will be burned to optimize deflation mechanism

Holliday

So quite a few use cases indeed.

And PBR is currently on Uniswap?

Cyclese | CEO & Co-Founder PolkaBridge (Never DM First)

yes.

You can buy PBR at https://app.uniswap.org/#/swap?outputCurrency=0x298d492e8c1d909d3f63bc4a36c66c64acb3d695

And you can see PBR token on Coingecko https://www.coingecko.com/en/coins/polkabridge

Holliday

And looks like it is on a couple of CEXs also

Cyclese | CEO & Co-Founder PolkaBridge (Never DM First)

yes. We were listed on Gate, MXC and Bilaxy

Holliday

Awesome

Are you guys collaborating with anyone? Any partnerships you can mention?

Cyclese | CEO & Co-Founder PolkaBridge (Never DM First)

we have many partnership with legit projects like KILT, Casper Labs,… You can see on our website https://polkabridge.org

Thanks to them, we would be known by more investors, and connect to more communities. And in future, they will also help us develop products and ecosystem technically if necessary. Let’s see what we can do together.

Holliday

Id like to get into two other things before we take questions.

One is the launchpad

Cyclese | CEO & Co-Founder PolkaBridge (Never DM First)

👍

Holliday

Where are you at with that?

Cyclese | CEO & Co-Founder PolkaBridge (Never DM First)

Our Launchpad has been launched on 10th April .

You can see at https://launchpad.polkabridge.org/

This is the foundation that can help projects raised fund, incubate for the long-term development of the project.

Holliday

Oh, good.

Cyclese | CEO & Co-Founder PolkaBridge (Never DM First)

Beyond is the first IDO project was successful on PolkaBridge Launchpad, and sold out within 30 seconds , raised 15 ETH.

Holliday

Impressive

Cyclese | CEO & Co-Founder PolkaBridge (Never DM First)

and of course, will have many IDO projects in May

Holliday

Roughly how many projects do you have lined up?

Cyclese | CEO & Co-Founder PolkaBridge (Never DM First)

next is DragonBite and CryptoPunt

we will have at least 5 projects on this month

let’s see it

Holliday

Wow, will be busy month.

Okay last thing

Lending

Its looks far down road map

Cyclese | CEO & Co-Founder PolkaBridge (Never DM First)

These projects are chosen through their strong fundamentals, the teams driving the project, their communities and the real world use cases going forward.

Holliday

But that is something else you would like to offer?

Cyclese | CEO & Co-Founder PolkaBridge (Never DM First)

Yes

Lending is one of our product, but we will develop it after DEX launch .

in next month, we will release NFT Gaming platform first

Holliday

Looking forward to seeing that

Cyclese | CEO & Co-Founder PolkaBridge (Never DM First)

It’s decentralized fighting game, base on NFT trending and blockchain

👍

Holliday

💪

I think we should take some questions from the community now

Cyclese | CEO & Co-Founder PolkaBridge (Never DM First)

yes , i’m ready for it

i want to talk with your community haha

Elias

I have three questions for you today, feel free to choose whichever you like to answer :)

Q1: How big of a fee does transactions in the $PBR farm have covering anything — Can you give a share of the $PBR token in the #Polkabridge tokenomics, then how can I actually take part in the #Polkabridge pre-sale?

Q2: Through what mechanism will the number of PBR tokens decrease over time? Which deflation mechanism has the positive effect on the PBR price?

Q3: I read you have allocated a 20% (20M) tokens for Airdrops, no problem with that. However, how are you planning to control the price dump on investors by airdroppers in listing?

Amina Peter

How safe is users information and Data when using Polkabridge Dex for transaction?

Julien

Hi guys

Engelz Qotalo Las Dotas

Having demand is one important to investors. How will your actually token demand increase in the future and do you have a plan? And what should you do to increase your token demand??

Please tell us your top notch — the number one feature that actually sets PolkaBridge apart from competititors?

Amina Peter

Can impermanent loss occur in your Dex exchange platform? Also, how are you handling slippage?

John Deeves

We all know smart contracts are probably most important security objects.. So I have read taht the smart contracts in your project have been audited internally or externally, AM I right?. So how does #polkabridge prepare for this condition?

What is the most biggest issue in cryptos you have fixed in the lifespan of Polkabridge?

Cyclese | CEO & Co-Founder PolkaBridge (Never DM First)

The fee will depend on Ethereum network gas fee. Normally, it will cost 30$-50$ for doing farming transaction

Our presale has over in January . You can see PBR tokenomics here

Sam Dopas

Wow the amount of AMAs today you have, haha (i mean tehmoonwalker)… But my question: Have you been succesful in attracting investors. How much have you grown since launch?

Through which ways can us users partake in your project? How can we give our rating and opinion on matters?

Cyclese | CEO & Co-Founder PolkaBridge (Never DM First)

Q3. 20% token for marketing activities , not only for Airdrop. Our airdrop campaign has over in January and was be distributed on April . Total tokens used for Airdrop is only 1M (already distributed)

Alise Wzzz

Tell us — WHO are your most important partners — I mean, who bring Polkabridge the most benefit? Why? Who would be your most best partner you could ever have?

Moises

I wonder, right now, how does your project plan to make itself known in different countries or regions where English is not well spoken? ‌‌

Cyclese | CEO & Co-Founder PolkaBridge (Never DM First)

Polkabridge DEX like others DEX. It’s decentralized exchange. We don’t store any information of users. Users just need connect their wallet and do transaction.

PolkaBridge DEX will support multi DEX and cross-chain DEX, the first is Ethereum and BSC, after that, we will migrate to PolkaDot Ecosystem , support swap ERC20 token to tokens on PolkaDot

PolkaBridge contract was fully audited by Certik.

You can see report at https://certik.org/projects/polkabridge

1. Market cap: Init market cap has only 500k$ and now , it’s more than 6M$ cap

You can see at https://coinmarketcap.com/currencies/polkabridge/

2. Our community (Telegram, Twitter) has more than 100k users. I think it was a big success

3. We were on schedule in Q1, following roadmap.

You can check report at https://polkabridge.medium.com/polkabridges-report-q1-2021-72226f0cb99

…..

O T

Hello team

How is every one

Cyclese | CEO & Co-Founder PolkaBridge (Never DM First)

You can join farming to earn PBR rewards and join Launchpad, to have a chance to participate good and quality projects.

Staking platform will release on this mont. So it’s another way you can interact and earning with PolkaBridge

Holliday

Oh good to see staking live this month

Somehow missed that

Cyclese | CEO & Co-Founder PolkaBridge (Never DM First)

as we said, we have many partners, like ChinaPolka, Casper, KILT, Labs… They helped us too much in community development and others activities .

ChinaPolka is our special partner and also our advisor . They helped us about funding, connect potential partners, finding high quality projects for IDO Launchpad…

Our community come from many countries around the world, but most of them come from Europe, China ,and others Asian country: India, Indonesia, Australia, Korea…

Currently, We’ve established foreign community in others country

🇰🇷 Korea Community @polkabridge_korea

🇹🇷 Turkey community @polkabridge_turkey

Will be open more communities in the future

Sam Dopas

Thanks, good to know!

Holliday

Alright @cyclese_polkabridge, I have had all my questions answered.

Cyclese | CEO & Co-Founder PolkaBridge (Never DM First)

yup

Holliday

Really appreciate you being here today to share Polkabridge with us.