PolkaBridge x Minted Lab AMA Recap
This is a recap of the ask me anything (AMA) session held between the PolkaBridge and Minted Lab community on April 24th at 07:00 AM UTC.
Q1. I saw your roadmap and that showed me PolkaBridge plans to migrate to parachain in q2. Is this project also a candidate for Polkadot or Kusama parachain auction? And for you launchpad, there are a lot of launchpad platforms in crypto nowadays, what is your launchpad’s advantage in comparison to others?
It’s excited question.
Yes, we will migrate to Polkadot ecosystem in Q2, but it’s not via parachain auction.
We don’t aim to be a direct parachain, so that, we will build our services on top of an existing parachain, such as MoonBeam. But for now, it’s not disclosed. Please wait for our official announcement.
About Launchpad Platform, currently there are so many successful platforms, but why are we still building own platform? Because there are many good projects outside and come out everyday, they can not handle at all. We want to find some good projects and bring best value for our community. As you can see, our platform is very smooth and can accommodate high traffic.
We will conduct IDO for many projects on end of this month and next month. So you can follow at https://launchpad.polkabridge.org/
Q2. There are many farming and swap platforms today. Do you have a differentiated strategy for Polka Bridge? And many people are reluctant because of unstable profits after farming (price fluctuations and traction fees). I wonder if there is a way to make a stable profit.
If you have read document about our farming platform you can find a clear difference between ours and other ones.
You cannot earn too much tokens by farming because it depends on PBR’s transferring volume. But it doesn’t mean you cannot earn so much money. You earn a few tokens but deflationary mechanism will make tokens be rarer day by day, additionally, when our products have launched, PBR tokens’ value will be performed more clearly.
More products, more users, more burnt tokens, more money for farmer. I think you will like it.
Q3. PolkaBridge’s IDOLaunchpad knows that the conditions for participation in public and private pools are different. Public pools do not need PBR tokens, but in private pools users need PBR. I wonder why you did that. It is said that Farming, Lending, and Launchpad are possible with PolkaBridge’s smart deflation mechanism. Then, I wonder what is the unique advantage of the smart deflation mechanism.
I think it’s so easy to understand but I will explain it a bit.
Imagine you bought 1 bitcoin at the time it first launched, a lot of people were given bitcoin at that time. But then they didn’t find it valuable and gradually forgot about the private key. This amount of bitcoins can be viewed as be burnt, the smaller amount makes bitcoin rarer, and above all it has practical value. What happens to the current bitcoin price, you probably already see it, right?
PolkaBridge’s deflation mechanism has a similar meaning, makes the PBR token rarer, positively affect to its price.
Q4. Polkabridge finally aims at crosschain dex. What kind of chain do you have in mind to apply for in the future? I wonder what coins you are planning to support except for Bsc and eth.
Our tokens and products are expected to launch on the major networks includes Ethereum, Binance smart chain and Moonbeam. But not for now, we have reached all targets on Q1 roadmap, and are still working hard to reach others.
Our target is building not only the bridge between chain and chain but also the bridge between crypto world and real world. We will bring whole traditional financial sector into crypto world and make crypto be mainstream.
Q5. The listed exchanges of polkabridge are now uniswap, mxc, gateio and bilaxy. When do you plan on listing other exchanges in the future?
Currently, our plan is to find high quality projects for IDO Launchpad and develop NFT products.
I think MXC and Gate are also big CEX , it’s enough volume for buy and sell.
We also aim list to top tier-1 exchange in Q3/Q4, such as Huobi, Kucoin, even Binance.
Of course, we need to build good products first and attract more investors