PolkaBridge x Satoshi CLUB AMA Recap
PART 1. Introduction of PolkaBridge project and community questions.
Hello, Satoshi clubbers and guests of this site. Most of you have already heard about Polkadot. Today we have a project that provides the first decentralized bridge between the Polkadot platform and other blockchains.
With PolkaBridge, you can swap tokens on the DOT platform to tokens on other chains and vice versa. Users will be able to earn by adding liquidity, lending, and more other ways simply.
The plan of AMA session:
- Part 1 — Introduction and preselected questions.
- Part 2 — Live questions
- Part 3 — The Quiz about PolkaBridge
The reward pool is 500$
Leading the AMA our clever and fun admins:
Luis Merino | Satoshi Club — @LuisMe7 and Gold Rocket | Satoshi Club — @GoldRocket27
The Representative of the project:
Cyclese — @cyclese_polkabridge — Co-Founder of Polkabridge.
Zeph Williams — @zephwilliams — Co-founder of PolkaBridge, also be UX/UI Designer
Introduction of PolkaBridgeproject.
Luis Merino | Satoshi Club:
Hello SatoshiClubbers! Welcome to another AMA session with Satoshi Club. Today we have PolkaBridge with us.
@zephwilliams, @cyclese_polkabridge welcome!
Gold Rocket | Satoshi Club:
Hello Satoshi Clubbers!
Greetings @cyclese_polkabridge & @zephwilliams! Welcome to Satoshi Club!
Zeph | Co-Founder PolkaBridge (Never DM First):
Hi, nice to meet you all
Gold Rocket | Satoshi Club:
Thank you for joining!😊
Cyclese | Co-Founder PolkaBridge (Never DM First):
Hi everyone, nice to meet you
Luis Merino | Satoshi Club:
How are you today guys?
Zeph | Co-Founder PolkaBridge (Never DM First):
not bad, thank you for the invitation so much
Luis Merino | Satoshi Club:
Are your fingers ready for a great AMArathon?
Zeph | Co-Founder PolkaBridge (Never DM First):
lol 😀 sure.
Cyclese | Co-Founder PolkaBridge (Never DM First):
ready now 😀
Gold Rocket | Satoshi Club:
First, tell us a bit about yourself and your project!😊
Small intro 😊
Cyclese | Co-Founder PolkaBridge (Never DM First):
I’m Cyclese, Co-Founder of Polkabridge
Zeph | Co-Founder PolkaBridge (Never DM First):
I’m Zeph Williams, Co-founder of PolkaBridge, also be UX/UI Designer
Gold Rocket | Satoshi Club:
Very nice! What is Polkabridge?
Zeph | Co-Founder PolkaBridge (Never DM First):
PolkaBridge is a decentralized all-in-one application platform.
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 deflationary farming mechanism, liquidity providers can earn more rewards than they think.
In the future, we will launch Lending, Launchpad, and more, let’s see.
Zeph | Co-Founder PolkaBridge (Never DM First):
It’s enough?
Gold Rocket | Satoshi Club:
This is a promising destination!
If you’re ready we can move on to the community questions! 😊
Zeph | Co-Founder PolkaBridge (Never DM First):
Of course.
Preselected questions about the PolkaBridge DeFi project.
Gold Rocket | Satoshi Club:
Q1 from Telegram Username @cryptocappex
The roadmap seems simple but detailed, with really interesting objectives … in the team, I see only two members, and I would like to know more about them (experiences, jobs…) and understand if new members will be added to meet the dates of the Road map? Thanks
Zeph | Co-Founder PolkaBridge (Never DM First):
These 2 members are just core team, our the actually has more. I think it’s so funny to show it all on our website 😀
Zeph | Co-Founder PolkaBridge (Never DM First):
I’m Senior UX/UI Designer, I have studied Game Art & Design at the University of Brighton, UK.
But now I’m living and working with our team in Singapore.
Cyclese | Co-Founder PolkaBridge (Never DM First):
And I’m Cyclese, from Singapore. I graduated from NUS with a fee bachelor’s degree in computer science.
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.
Gold Rocket | Satoshi Club:
Great experience!👍
Do you have an office or do you work remotely?
Luis Merino | Satoshi Club:
I’m back. My Telegram crashed. Sorry.
Zeph | Co-Founder PolkaBridge (Never DM First):
Sure, we have a small office in Singapore, that’s the reason I am living here now instead of the UK.
Luis Merino | Satoshi Club:
Sounds good! 👏
Zeph | Co-Founder PolkaBridge (Never DM First):
No problem Luis.
Luis Merino | Satoshi Club:
Is your company registered in Singapore?
Cyclese | Co-Founder PolkaBridge (Never DM First):
Not yet.
Zeph | Co-Founder PolkaBridge (Never DM First):
Sure in future.
Gold Rocket | Satoshi Club:
Thanks for the answer! Can we proceed to the next question?😊
Cyclese | Co-Founder PolkaBridge (Never DM First):
Yes, ready for it.
Gold Rocket | Satoshi Club:
Q2 from Telegram Username @Boomerang356
Can PBR token be staked in the Polkabridge Blockchain? And how many Validators will be Available?
Zeph | Co-Founder PolkaBridge (Never DM First):
Because of the Deflationary mechanism, we don’t think we need to let tokens be minted by staking now but if users suggested we can consider.
Moreover, some features in the future require users to lock their tokens for validation. Let’s see it together.
Gold Rocket | Satoshi Club:
That is, you are still in the process 😉
Zeph | Co-Founder PolkaBridge (Never DM First):
That’s all Rocket 😂
Luis Merino | Satoshi Club:
Btw, I have a question, not related to this, but I’ll shoot it
How does the recent pump of PolkaDot affect your project?
Zeph | Co-Founder PolkaBridge (Never DM First):
Just do it, Luis.
Cyclese | Co-Founder PolkaBridge (Never DM First):
I think it’s very important for us. We will do presale next week, and maybe with DOT pump, we can attract more investors to invest in us😀Because our project is on Polkadot Ecosystem
Zeph | Co-Founder PolkaBridge (Never DM First):
Sure, it makes us feel more self-confident about our ideas, so we decided to start a marketing campaign a month ago.
Luis Merino | Satoshi Club:
Maybe you can share with us some info about your pre-sale 😀
Gold Rocket | Satoshi Club:
It would be great!
Cyclese | Co-Founder PolkaBridge (Never DM First):
More detail will be soon 😀
Please follow our official channel not to miss anything guys.
Luis Merino | Satoshi Club:
Thank you!
Our community will love to do so 😊
Zeph | Co-Founder PolkaBridge (Never DM First):
Excited and channel here @polkabridge
Luis Merino | Satoshi Club:
Ready for the next question?
Gold Rocket | Satoshi Club:
Do you want to add something? Or can we jump to the next question?
Zeph | Co-Founder PolkaBridge (Never DM First):
Whenever Luis.
Cyclese | Co-Founder PolkaBridge (Never DM First):
Ask me anything if you can 😀
Gold Rocket | Satoshi Club:
Q3 from Telegram Username @Winterkom
When using PolkaBridge and its swap feature, 2 swap transactions are performed simultaneously, my question is, won’t this significantly increase the network fees that users must pay? Why 2 swaps at once?
Zeph | Co-Founder PolkaBridge (Never DM First):
Cyclese’s turn.
Cyclese | Co-Founder PolkaBridge (Never DM First):
As you all know, PolkaBridge DEX is a cross-chain DEX. A token swap between 2 different blockchain platforms needs 2 simultaneous transactions at least.
Example: If you want to swap ETH (on Ethereum) to DOT (on Polkadot), you have to transfer ETH from your wallet to the ETH pool, which will take an amount of ETH as a network fee.
Then, there will be another transaction on DOT to calculate the amount of DOT you will receive. Then, this DOT smart contract will transfer DOT to your wallet.
Just only a large fee on ERC20, the others are so small now.
Luis Merino | Satoshi Club:
Btw, another question about your pre-sale guys. How many ETH will be locked for liquidity?
Zeph | Co-Founder PolkaBridge (Never DM First):
60% of fundraised in presale and they will be locked forever.
Luis Merino | Satoshi Club:
Got it. And do you have a soft-cap?
Cyclese | Co-Founder PolkaBridge (Never DM First):
Hardcap is 200ETH, no soft-cap.
Luis Merino | Satoshi Club:
Maybe these answers will be given in a future announcement, let me know if it’s the case 😉🙏🏻
Zeph | Co-Founder PolkaBridge (Never DM First):
I don’t think we need soft-cap Luis 😂
Luis Merino | Satoshi Club:
Thank you! I think we are ready for the next question. Do you want to add something?
Cyclese | Co-Founder PolkaBridge (Never DM First):
Ok ready for the next question.
Gold Rocket | Satoshi Club:
Q4 from Telegram Username @kripto_mangunkusumo
The total supply of $ PBR is 100,000,000, which I think is very high. Do you think this won’t have a bad impact on the token price? please describe your scenario regarding this.
Zeph | Co-Founder PolkaBridge (Never DM First):
My turn Cyclese 😀
Not important because of the smart deflationary mechanism in our features. Max supply of LINK is 1,000,000,000. And you can see what happened.
We have a proper lock and unlock strategy to control the token price. You can see more in whitepaper.
Zeph | Co-Founder PolkaBridge (Never DM First):
At the same time, with deflationary farming, it will reduce the amount of circulated tokens over time, which will have a very positive effect on the token price in the long term. About Deflationary Farming mechanism, you can see more detail in the whitepaper.
Our project has a lot of ideas to develop, so I think 100,000,000 is not too large.
Luis Merino | Satoshi Club:
Btw, all your team is anonymous atm. Do you plan to reveal yourselves in the future?
Zeph | Co-Founder PolkaBridge (Never DM First):
We are really considering about it Luis.
Cyclese | Co-Founder PolkaBridge (Never DM First):
Yes, after the product release, we will public all information about the team. We want to focus on develop first
Luis Merino | Satoshi Club:
It mooned 😁 Can you share your whitepaper with us?
Zeph | Co-Founder PolkaBridge (Never DM First):
Sure https://polkabridge.org/assets/docs/whitepaper.pdf
It’s also public on our website
Luis Merino | Satoshi Club:
Don’t be shy 😁😁 Thank you!! Got it
Zeph | Co-Founder PolkaBridge (Never DM First):
That’s all.
Gold Rocket | Satoshi Club:
Tell us please about your tokenomics btw😊
Zeph | Co-Founder PolkaBridge (Never DM First):
Luis Merino | Satoshi Club:
I love the design of this image, very visual and useful, thank you Zeph.
Zeph | Co-Founder PolkaBridge (Never DM First):
All information about PBR token is public on our website and official media channels. Thanks Luis 😘
Cyclese | Co-Founder PolkaBridge (Never DM First):
He is the best designer 😊
Luis Merino | Satoshi Club:
I have no doubts 😁
Ready for Q5? 😊👍 Or do you want to add something else?
Zeph | Co-Founder PolkaBridge (Never DM First):
Next question pls
Gold Rocket | Satoshi Club:
Q5 from Telegram Username @cengizhantekin
I saw that you are planning a service called PolkaBridge Launchpad. What will be done via this service? Will it be similar to Binance Launchpad? When is it planned for?
Luis Merino | Satoshi Club:
I like this question
Cyclese | Co-Founder PolkaBridge (Never DM First):
let me answer this question.
Zeph | Co-Founder PolkaBridge (Never DM First):
OK your turn Cyclese 😂
Cyclese | Co-Founder PolkaBridge (Never DM First):
I think it’s similar a bit but users want to lock their tokens instead of just holding them. It affects to token price better.
Launchpad is expected to be launched in Q4 2021 or sooner. Of course, we are still focusing on developing Cross-Chain DEX and farming first.
Of course, we will choose the best projects for Launchpad, like what Binance did 😀
Zeph | Co-Founder PolkaBridge (Never DM First):
Always excited to hear about that.
Gold Rocket | Satoshi Club:
Share more information about farming. What are the conditions, etc?
Zeph | Co-Founder PolkaBridge (Never DM First):
To join in farming, users must add liquidity into our pools on our dApps.
Then, each PBR transaction on the network always attaches a small amount as a fee. About 0.5%
Zeph | Co-Founder PolkaBridge (Never DM First):
This fee includes the fund for farmers as a reward (90%) and for burning (10%)
Cyclese | Co-Founder PolkaBridge (Never DM First):
For more information, you can read on our whitepaper, at Deflationary Farming
Gold Rocket | Satoshi Club:
By the way, your website says that soon you are planning an external audit of smart contracts. have you decided who will do it?
Zeph | Co-Founder PolkaBridge (Never DM First):
We are considering CertiK and The Arcadia Group
Gold Rocket | Satoshi Club:
Thank you very much for your answers! Can we proceed to the last question of this part?
Zeph | Co-Founder PolkaBridge (Never DM First):
Sure.
Gold Rocket | Satoshi Club:
Q6 from Telegram Username @NataliyaKil
From January 11, 2021 — February 28, 2021, you are airdrop for your community!
Complete all the following tasks and fill the form to get 50 PBR and 50 PBR for each referral.
And you need to fill out the form, indicating certain data. When I reached the last point, I stopped. What referral name should I indicate there if I came to your Telegram group using the link indicated in our AMA announcement and did not invite anyone myself?
Zeph | Co-Founder PolkaBridge (Never DM First):
It’s optional, you can fill or not.
But note: it must be a proper user, must do all tasks in form. We take control to eliminate all fraud cases.
And you can ask anyone here for it, I think they can give you 1 billion ones lol 😀 It’s done Rocket.
Luis Merino | Satoshi Club:
Can you share the link to your airdrop?
Cyclese | Co-Founder PolkaBridge (Never DM First):
Gold Rocket | Satoshi Club:
And also share useful links with our community before the open chat
Zeph | Co-Founder PolkaBridge (Never DM First):
Public at our official channel too.
Zeph | Co-Founder PolkaBridge (Never DM First):
Complete all the following tasks and fill the form to get 50 PBR and 50 PBR for each referral.
Form: https://forms.gle/ireMmZTWbDYrJXQ7A
Time: January 11, 2021 — February 28, 2021
Distributed: April 1, 2021
Claim your own PBR right now!!!
Luis Merino | Satoshi Club:
Okay guys, get ready for a huge bunch of questions! Take your umbrellas, storm incoming!! ☔️☔️☔️
PART 2.Questions about the PolkaBridge project from the live chat of the telegram community.
In this part, we open a chat for the crypto community for 120 seconds. Then the guests from the PolkaBridge crypto project choose the top 10 questions. The 10 crypto enthusiasts have earned cryptocurrency in the sum of 100$.
Q — 1 from a telegram user @cengizhantekin
PolkaBridge will be a bridge between the Polkadot platform and other blockchains. Given that, I see in your roadmap that there are only 2 blockchains in the plan which are ERC20 and BEP20. Will that be all to bridge or will you continue with other blockchains once you are done with these two? If yes, which ones are planned next?
Zeph | Co-Founder PolkaBridge :
ERC20 and BEP20 are the most popular platforms, so we are focusing on them, after that, the next one is SLP, TRC20,… Let see!!
Q — 2 from a telegram user @anh1973
Where can I buy/sell and hold PBR? Thx.
Zeph | Co-Founder PolkaBridge:
More information about the presale is coming very soon, after that you can buy it on Uniswap. Stay tuned pls.
Q — 3 from a telegram user @boradam
Do you have any referral system for your community to get some bounties and airdrop?
Zeph | Co-Founder PolkaBridge::
Of course, the Marketing fund in Tokenomics includes it sir.
Q — 4 from a telegram user @Dreamy_genius
There are a lot of fraudulent pools on Uniswap today. Is it possible to completely remove this in PolkaBridge DEX? Do you have a solution to this problem?
Zeph | Co-Founder PolkaBridge::
It’s life, I don’t think anyone can control all, what we can do is providing the best legit projects through our Launchpad.
Q — 5 from a telegram user @azrayeni
What is the reason for locking initial liquidity on Uniswap forever?
Zeph | Co-Founder PolkaBridge::
We will lock liquidity on Uniswap for 1 year, not forever. Ensure that users can trade PBR tokens, and no rug pull.
Q — 6 from a telegram user @stargateeatlantis
Do you plan to burn any tokens after pre-sale is done to ensure the higher token value?
Cyclese | Co-Founder PolkaBrid:
Unsold presale token will be burn.
And as you know, we have Deflationary Farming. So that, the supply of token will be decrease by time.
And in the future , maybe we will buy back and burn token
Q — 7 from a telegram user @Winterkom
Do PolkaBridge pre-sale tokens have any locking period? How long is the investment period? Or are they available immediately after the PBR listing?
Zeph | Co-Founder PolkaBridge::
Presale tokens will be unlocked fully after listing on Uniswap, but I don’t think they should sell them immediately.
Q — 8 from a telegram user @lchongthu
You have allocated 20% (20M) tokens for Airdrop.
How are you planning to control the price dump on investors by airdroppers in the listing?
Cyclese | Co-Founder PolkaBridge (Never :
We use only 5% of the marketing fund for Airdrop (about 1M token).
Distributed in April. So I don’t think they can dump too much.
Our project is a long-term investment. so look to the future, not in the short-term.
Q — 9 from a telegram user @Alika061
How much does each transaction in the $PBR farm have a small fee covering anything and can you give a share of the $PBR token in the #Polkabridge tokenomics, then how can I participate in the #Polkabridge pre-sale?
Zeph | Co-Founder PolkaBridge::
0.5% fee attached in each PBR transaction on the network, 90% of this fee will be shared to farmers and the other 10% will be burned. The presale guides will be announced very soon, stay tuned pls.
Q -10 from a telegram user @Tony253210
PolkaBridge is a platform that let users do Swaps token from Polkadot to others chains( and vice versa), but how many chains are you talking about? The same as Polkadot it supports?
Cyclese | Co-Founder PolkaBridge (Never DM First):
We will support Polkadot first. And after that, we will look to another s blockchain like Binance Smart Chain, Tron, Tezos, Atom.
Part 3 — Quiz about project
In the final part, we tested the knowledge in terms of the PolkaBridge project. They’ve prepared 4 questions for this part, so everyone could be a part and answer. Participants had 10 minutes to answer. 300$ was distributed between the winners.
