PolkaBridge x SpykeFast AMA Recap
PART 1: HOST QUESTIONS
Q1. Kindly give brief introduction about yourself, Crypto experience and your role at #Polkabridge Project?
Cyclese | CEO & Co-Founder PolkaBridge (Never DM First)
I’m Cyclese, from Singapore. I graduated from NUS with a fee bachelor’s degree in computer science.
Currently, 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
this is my experience in crypto market and in blockchain development
how long have you been here , in crypto market ?
Q2. Let’s talk in detail about #Polkabridge project. What are the main features of the project?
Cyclese | CEO & Co-Founder PolkaBridge (Never DM First)
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.
Our main feature that PolkaBridge ecosystem provides application help everyone can swap tokens on DOT platform to tokens on other chains and vice versa. You will be able to earn by adding liquidity, lending, farming and more other ways simply.
HunterX | Spykefast
That’s a super overview of what the project is doing. 👍👍
It seems launchpad feature was launched recently??
Cyclese | CEO & Co-Founder PolkaBridge (Never DM First)
yes. Our Launchpad platform has been released in April, and first step get major success
HunterX | Spykefast
I find DragonBite IDO is also launching on Polkabridge platform.
Cyclese | CEO & Co-Founder PolkaBridge (Never DM First)
Yes. Our next IDO project on launchpad is DragonBite and CryptoPunt
HunterX | Spykefast
SpykeFast is invested in DragonBite and really happy to note about IDO on Polkabridge.
Details about DragonBite IDO on PolkaBridge
❇️ Hard cap: 100,000$
❇️ Price: TBA
❇️ Max individual allocation: 500$ (FCFS)
❇️ Pool: 40k$ for Public (no require hold PBR) & 60k$ for Private (require hold at least 3000 PBR)
❇️ Date: 31th May 2021
❇️ Whitelist: 27th May — 30th May
❇️ Number of participants: 600 (240 for public pool and 360 for private pool)
❇️ AMA: TBA
New rules for the IDOs are as follows: https://polkabridge.medium.com/polkabridge-announces-the-new-whitelist-rule-for-next-launchpad-ido-offering-fa12ec2d2f2a
Cyclese | CEO & Co-Founder PolkaBridge (Never DM First)
it’s great . DragonBite is potential project , so that PolkaBridge choose it for our Launchpad
HunterX | Spykefast
It’s amazing to see the progress made by Polkabridge project. 😊😊
Q3. What are the major utilities of holding the #Polkabridge Native token? How does team plan to enhance it value so as to attract users onboard?
Cyclese | CEO & Co-Founder PolkaBridge (Never DM First)
These are some utilities of PBR tokens
1. Rewards for farming: Like other Defi platforms, there will be many pools to farming. Liquidity providers will earn an amount of PBR corresponding to total amount of liquidity that he added
2. Governance: PBR holders have the right to vote to change parameters, features and development roadmap of the PolkaBridge ecosystem in the future.
3. 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
My team will find more potential IDO projects to conduct on our launchpad platform.
We will connect with more partners and will perform many marketing campaigns to attract new investors
I want to say that: “Keep support PolkaBridge. Be patient and put your faith in the real value of the project, the real value will come to you”
HunterX | Spykefast
Q4. How has the development been so far with Polkabridge Platform? Are things proceeding ahead right on track?
Cyclese | CEO & Co-Founder PolkaBridge (Never DM First)
In Q1, we completed 100% of our goal. Our major achievement : Listed on PolkaProject, Listed on tier-2 exchange (Gate, MXC), Launched Deflationary Farming
You can read our report at https://polkabridge.medium.com/polkabridges-report-q1-2021-72226f0cb99
In Q2, we launched Launchpad Platform and help Beyond do IDO with sold out in 30 second.
You can see our Launchpad platform at https://launchpad.polkabridge.org/
Everything is going according to our roadmap and let’s see, what we d
HunterX | Spykefast
you can read here https://polkabridge.medium.com/polkabridge-announces-the-new-whitelist-rule-for-next-launchpad-ido-offering-fa12ec2d2f2a
Do give this a read.. Community.
Cyclese | CEO & Co-Founder PolkaBridge (Never DM First)
everyone can see here https://polkabridge.org/
HunterX | Spykefast
Understanding Polkabridge. 😇
Q5. How is #Polkabridge project different from other competitors?
Cyclese | CEO & Co-Founder PolkaBridge (Never DM First)
Interesting question
The main feature I think PolkaBridge is the bridge that can help use swap and bridge token from others chain to PolkaDot.
Currently Polkadot Parachain has not officially mainnet so we have to wait.
Therefore, there is not yet any platform that has the ability to swap tokens from other blockchains to Polkadot.
We are confident that PolkaBridge can do that in the future.
This quarter, we will deploy the testnet on Moonbeam. MoonBeam is a parachain on PolkaDot, we will use MoonBeam to write smart contract on Polkadot.
In additional, we have implemented the Deflation model with PBR token. Therefore, the total supply of PBR will be decreased over time. It will bring more value for PBR token in the future.
I think this is our advantage over others
HunterX | Spykefast
Impressive things happening at Polkabridge. 👍
Q6. What major events can we expect in the 2021 #Polkabridge Development Roadmap?
Community soon be ready with your questions for Round 2. After this last question.
Cyclese | CEO & Co-Founder PolkaBridge (Never DM First)
The next step is we will launch staking PBR program on this month and run test net on MoonBeam. Of course, we will find many potential projects and conduct IDO on our Launchpad, bring value for investors and our community
The main focus in the remaining time is develop Multichain DEX and Cross-Chain DEX. It’s PolkaBrideg feature
In Q3, we will release Mainnet DEX and also develop NFT gaming platform. Let’s see
PART 2: LIVE QUESTIONS
Can you give us more detail but simple explanation about your swapping process? It said that Each swap action includes 2 transactions on 2 platforms of swapped tokens through pools? can you explain it for us?
PolkaBridge uses Moonbeam’s solution (parachains on Polkadot), allowing
smart contract to run on Polkadot. That means that PolkaBridge will use 2 smart
contracts at the same time to swap, one on Polkadot platform, the other one on
other corresponding blockchain
Example for swapping from ETH (on Ethereum) to DOT (on Polkadot):
1. On UI, user will find one pool called ‘ETH-DOT pool’. This pool actually
includes 2 pool: one contains ETH on ERC20, one contains DOT. User will swap
token through liquidity of this pools. Liquidity providers will be able to claim
rewards when users swap. Provide more liquidity, get more rewards. See how to
calculate rewards in Farming section.
2. The user’s ETH will be transferred to the ETH pool of ETH-DOT pool. Here,
based on the data of existing tokens in the pool to calculate the conversion rate
to DOT. After calculating the amount of DOT, the smart contract (Moonbeam) will
return to the user’s wallet. The swap process is completed.
Users will be allowed to choose a slippage rate from the UI dApp to swap
out. Note the higher the slippage, the higher the risk.
If you want to be successful, how can you ensure that the community is shared in governance? Do we need to place bets to get votes or do we need to run nodes? PolkaBridge
Yes of course, Governance is an essential thing of a project, to get ideas from the community for long-term development. Currently , we don’t release Governance, but in the future,It’s a necessity and a necessity.
Upto How many times can the user increase leverage for increased APY of yield farming ?Was giving the highest APY one of the main intentions behind this project?
PolkaBridge Deflationary Farming is different with others projects.
Our rewards farming come from transaction fees. The more people transfer PBR tokens to each other, the more rewards for farmers will be, along with more PBR tokens burned. So that APY will depend on this operation.
This increases the value of the PBR token in the future, when the supply is less and less.
Polkabridge has giving so much of utility as a token to investors like IDO launch pads, recently launched MEME coins CORGIB also with Dex on its path. How do you see it being positioned as an industry leader with time given its trying to be a one stop area for most things? also which you feel is the biggest hurdle and competitor with so many varied services?
To survive in a tough market, you must have a vision. Community is the most important of the project. So we have to make products, it has to follow the trend and serve the community.
$CORGIB is our meme tokens, it’s follow DOGE trending haha. it was born not for profit but for the purpose of stirring up the community and attracting more attention to PolkaBridge.
