We are pleased to announce our next AMA on May 27th 2021 at 03:00 PM UTC Time: Satoshi Club x Starbound
⚠️Click to see the hour
⚠️Total Reward pool: $500
⚠️Requirements:
👉 Join Satoshi Club Telegram group
👉 Join Starbound Telegram group
We will have the following structure:
Part 1: 100$ /6 users – We’ll select 6 questions from the community. A user can post maximum 3 questions.
Part 2: 100$/10 users – Open chat for 120 seconds. You can post Max 3 questions. Starbound Team will select 10 questions and answer them.
Part 3: 300$ – A quiz about Starbound
For more details:
Starbound Website – starbound.space
Starbound Telegram – @StarBoundOfficialChat
Satoshi Club – @satoshi_club
Russian – @satoshi_club_ru
Spanish – @satoshi_club_spanish
You will have a “Stability” feature in your protocol which will ensures that every user sell threshold is pegged at a limit of 33% of the current holding balance. However, you will also be implementing a stationary reflection reward system that redistribute 5% of every market transaction to holders of StarBound. If transactions are limited, won’t this indirectly limit the passive reward that accrue to holders? Can a user with an urgent need to trade token conduct multiple sell transactions as long as each of this transaction do not exceed 33% of token holdings or are there penalty for this?
StarBound has an initial focus on NFT development and I saw that your platform was launched with 4 unique NFTs which are StarFuel, Galactic Valysian, Infinity Cruiser and Hyper Wing. Can you provide a brief details of these 4 platform NFTs, their level of rarity and the utility or privileges that they bestow on holders? Do these NFTs support NFT staking features and fractionalisation? Are you only going to issue these 4 NFTs or are there plans to introduce more NFT product? Also, will users be able to mint their own customizable starship digital NFT and do you have intention to create a space-themed NFT marketplace for your platform NFT tradable asset?
StarBound protocol is built on the the Ethereum blockchain. Looking at your unusual tokenomics that requires users to set a high slippage when buying as well as setting a high slippage up to 35% when they want to sell, do you think the Ethereum blockchain is the best fit for your type of project design, especially looking at the already high gas and scalability issue of this network? Are you planning any layer 2 solutions to address Ethereum on-chain challenges and are there plans for cross-chains functionalities and interoperability on other promising blockchain network?
Starbound NFT collectibles can be buy or can be bid through Rarible.com and when buying NFT,10% of sales will go to the creator. So,why do you decide to integrate Rarible.com for NFT selling purposes of Starbound?Any advantage in Rarible? Why does 10% of sales only will go to creator, is that fair enough for NFT creators in your platform as his share of his creation? Aside from this 10% share of sales for NFT creation,what other privileges or benefits that an NFT creator will get or enjoy as creator in Starbound? Thank you
It is Stated that one of your largest goals is to generate enough funds from StarBound to build a space themed blockchain game and incorporate StarBound as part of it’s ecosystem… so how will this game you have in mind be played, what will be the features of this game, and what is the amount of funds you are looking at generating to enable you build this space themed game.
During the very early stages of your launch, it was stated that you experienced an influx of malicious attacks set out to defame your project and cause a panic amongst your new investors with false accusations (fud campaign). This, coupled with confusion over Uniswap changes, led to a series of panic sell offs that gave many a false impression of what had occurred… so can you explain what really happened during this time, what kinds of attack were you receiving, how did you respond to this attacks and the uniswap changes, and what measures have you taken to ensure that such attacks do not have huge negative impacts on your platform in the future.
Apart from being a Deflationary token, StarBound will also have a Rising Price Floor, and will also be used for an NPO Donation. In this case, I assume an NPO to mean a Non-Profit Organization. So how do you maintain an ever increasing price floor for StarBound and can you give more details about the NPO Donation how will it be done.
As we well know, 7% of transfers contribute to permanently blocked liquidity, which creates an ever-increasing price base for generations to come. What results are obtained if a wallet is sold more than once a day, this amount is doubled? How does automatic liquidity generation work? What qualities does this automatic liquidity generation fulfill to say that investors were enthusiastic about this project?
Each transfer or transaction triggers a 5% thoughtful redistribution to all StarBound holders. Our contract takes care of the heavy lifting while our community enjoys passive participation without the need to worry about temporary losses or gas fees to claim rewards. Can you explain how ion thrusters work? Stationary rewards? In how many parts does StarBound carry out the burns and reserves? What model does your ticket to the stars require, in order to increase the value of the tokens along the way? How much of the circulating supply is eliminated in each market transaction?
StarBound had a fantastic launch on May 4th, 2021 to celebrate their connection with a certain popular space themed l (May the 4th be with you!). The launch took place without presales, No airdrops and 100% Fair Launch. Why did StarBound decide to launch without Presale and airdrops? Will there be public and private sale soon? What benefits has your connection with space themed l brought to your ecosystem?
While most projects focus on buying behavior, StarBound has placed a limit on how much can be sold at one time. This amount is equal to 33% of a holder’s current balance. Why did you decide to place limit on the amount of asset that can be sold? Do you have specific type of investors you intend to have in your project by this? Knowing that some investors may be put off by the idea of not being able to sell all of their tokens in one transaction, do you have other advantages that may make investors overlook the limit of not being able to sell all of their tokens in one transaction?
I was very interested in one item on your roadmap – CryoStaking. As I understand it stands for freezing staking? Cryogen is a low-temperature phenomenon or a substance that leads to a decrease in temperature (-120 ° Celsius); freezing mixture. Please tell us about it, when is the launch date, how to participate and what is the minimum number of coins to participate? And why did you give such a name to your staking – CryoStaking, as if focusing on freezing, is there any feature that distinguishes you from others?
Each market sale is limited to 33% of a holder’s current balance. Anyone can sell as often as they want, but this encourages holders to use HODL and eliminates automated trading software from depleting liquidity and initial execution transactions. Selling more than once a day doubles the contribution to liquidity. Would you like to know if the StarBound team is planning to implement NFT? Is the StarBound token ready for investor consumption? Do you plan to carry out some kind of presale? In how many phases is the launch of the NFT divided?
StarBound is a community driven project, I understand that no pre-sales will take place to avoid any unfair advantage even before we have left our launch pad. No tokens are reserved for the team. We all rose together from scratch. What features does the Lucky Stars and CryoStaking Lottery System have to say they work fairly? Has any type of audit been carried out on your contracts for the proper correction of errors? Do you have stipulated to make some kind of partnerships with other companies to boost yourself in the DeFi world? Are you planning to start some kind of NFT development?
You recently warned your community members and potential investors not buy the remaining Free NFT’s after Launch as they were taken by one individual and listed for resale. How do you intend to solve the issues of fake copies, thereby establishing your platform’s integrity? With NFT will you leverage the interoperability of the blockchain? what is your future plan for NFT?
No pre-sales will take place to avoid any unfair advantage even before they have left the launch pad. No tokens are reserved for the team. All of us who believe in StarBound get up together. What strategy have you thought of implementing to prevent large whales from forming? Who will be responsible for providing the initial liquidity? What beneficial features does StarBound fulfill? What is the central objective of this architecture? What does StarBound do?
The possibilities that digital crypto currencies offer seem endless. As decentralized financial solutions open up to automated market makers, allowing anyone with an internet connection the opportunity to join in, the craze and excitement for DEFI is growing at an astronomical rate. What percentage will be allocated as fuel for growth, where will it be directed? What will the distribution of this percentage be like? What will this percentage be implemented for? What are NPO donations? How does the intergalactic DeFi protocol work? What incentives does it bring both for the platform and for its passersby?
According to your website, your deflationary mechanism is triggered with every transaction by removing 1% of each market buy and sell from circulating supply forever, but after launching there’s something named Ion Thrusters and your deflation mechanism will be manual, can you explain a little further what consists this of and what will be the reasons to trigger them manually?
I checked your NFTs and these can be purchased Rarible, but will you have your own marketplace in the future? Also, what additional uses can be given to them apart from being collectibles? Will you have features like NFT staking or farming?
To inhibit a large downward price movement, market sales are limited to a maximum of 33% of the holder’s current balance at each sale. Doesn’t this limit the financial freedom of the concept of cryptocurrencies?
On your website you say that StarBound encourages the community to use HODL, but, although it is true that simply having observed the market from January 2018 until now it is intuited that the HODL is ceasing to be what it was, they have recently been published studies that confirm that it is dying as a strategy. Why are you interested in the community doing HODL today? Why do you think it can be beneficial to the community?
Star Bound has a finite supply with a deflationary mechanism built into each transaction by eliminating 1% of each purchase and sale of the market from the circulating supply forever, for what purpose is this token burning carried out? What are the benefits of this burn?
Superbound token has various built-in functionalities such as deflation, rising minimum price, stationary incentives and rewards, donations to non-profit organizations. But the smart contracts that are responsible for carrying out these operations are totally reliable and safe? Has the corresponding audit been carried out for the contracts?
Your StartPaper says: By joining StarBound, there’s no more need to worry about impermanent loss or paying gas fees to stake, unstake, or claim rewards. We take care of the rocket science, while you enjoy the ride. That simple! How can the token holder maintain control of their assets without being a passive actor?
The slogan of Starbound, “It was the simple act of looking up on a cloudless night that reminded humanity, we were born free.” How has it influenced the process of creating the project? What entities have participated in the audit and certification?
The main problem in a user’s position is having to operate on the Ethereum network. While the other blockchain networks charge a few cents of fee, the ethereum network is taking a pretty high fee. This represents a serious problem when buying Starbound for many users. How do you face this situation? Do you have plans that can solve this problem?
NFTs have started to come out of crypto anonymity and attract more attention as more public figures have entered this space. Different NFTs are available on your website, but I would like to know what your vision is regarding the NFTs market in the future. NFTs have been getting a lot of attention these last few months, do you plan to delve deeper into the NFT market for Starbound?
On your website you say that StarBound makes donations to non-profit organizations, can you give us more detailed information on this topic? What are the non-profit organizations to whom you give these donations fighting? Is a part of the transactions directed to these organizations? How can the community keep track of these donations?
StarBound states of being able to reatin value even if every investor sell their holdings completely, can you tell us more about your collaterization features and how can your capitalization sustain even in the worst conditions of the market?
StarBound encourages their community mostly to hold their token, so I will assume that the incentives for being a holder must be very attractive, can you tell us about the ways to earn passive incomes and what are the benefits of providing liquidity to your pools?
I see that you have some NFTs collectibles already available to buy. Will you be adding a NFT Marketplace where users can sell their NFTs too? Or can artists reach out to you for the possibility to work together on NFTs?
I would like to know, how old is StarBound? It seems like a young project but I see that you have plans of growing your presence on social media, so can you tell us about your strategies for attracting new users to your platform?
Among your Post Launch Q1 plans, I noticed the community contests. Have you already released any contest or activity for the StarBound community? Is there any contest going on right now?
The StarBound liquidity model works in such a way that it’s smart contract is programmed to automatically allocate 7% of every market transaction towards increasing it’s stored liquidity pool. With this process, Starbound guarantees that even with a scenario where all investors where to sell their holdings, Starbound will still retain value and it’s value will grow constantly. Can you briefly explain how this model works, and how does this method of liquidity generation, benefit StarBound and it’s community of investors in the longrun as well as help in increasing the value of StarBound tokens?
Looking at the project’s roadmap, StarBound is set to unveil some pretty interesting and unique features during the timeframe of Post Launch Q2+, which includes the Blockchain Space game development, the Interstellar Exchange and many more. With direct emphasis on the above mentioned products, can you briefly explain how they would effectively function on the StarBound ecosystem, what commodities or items would be tradable on the Exchange, what genre of Blockchain games will be in development and will there be a gaming app to accommodate this?
On Starbound, 7% of transfers contribute to permanently locked liquidity, if a wallet sells more than once per day, this amount is doubled. So what happens if people want to sell all of their holding tokens together at the same time? Do you prevent them to sell 100% of their tokens? Also there is 1% token burn and 5% redistribution to token holders so what is the total number that’s being distributed?
In your post launch Q2+ in the roadmap, you mentioned about Lucky Stars Lottery System. Can you give us more information about this lottery? Will this only be available to token holders or non token holders can participate as well? What will be the protocol implemented in this to maintain transparency and fair draw?
Regarding influencer partnerships, what target partnerships or who will these be? Aside from partnerships, what specific steps will you do to spread StarBound for it to reach even outside crypto world? What is your target audience count that you want to achieve?
I read on your post launch Q2+ on your roadmap the CryoStaking. Can you clarify to us the uses and profitability of this staking in StarBound? Is there any difference about this CryoStaking from other staking systems?
Whales buy in early phase and instantly dump it during the launch when there is no token lock. This becomes very frustrating for small investors. What will Starbound do about this? Can you give some information about the Token Lock system of StarBound?
When market is not Stable, many people can not keep holding the tokens and they sell them with a loss. It seems like Market Stability feature of StarBound may help these investors. Can you explain how does this work and is this feature sustainable even when market is very active?
What will be the first and very important target for StarBound Team after the launch?
I see on telegram, you burned 1% of total max Starbound token. Could you explain what trigger the burn token, is it burn only from special event or you have routine weekly/monthly schedule for burn token? And why 1%? How does your burn system work in Starbound?
Starbound have unique buy and sell token mechanism that you can only sell 33% of your holding in 1 transaction. Can you explain more detail about this unique mechanism? Why do you create this kind mechanism and what benefit that user get from this unique system?
I’m still new with Starbound project and want to learn more, I read your twitter that you have airdrop/giveaway event to give NFT PTV-2 Hawkeye and NFT extra Hyper Wing VA3. Those NFT looks really cool! So to participate we only need to hold your token? And what are the use of those NFT, will you have aircraft game combat platform to use that NFT?
Hi StarBound!
Your reflection system will require users to simply hold the token in a wallet and enjoy part of the fees automatically going to holders of $StarBound. If the user decides to provide $StarBound liquidity on the DEX, will reflection still work for LP tokens or is it better to just hold $StarBound in the wallet? Can holders get better yield this way: reflection plus DEX trading fees?
Hi StarBound!
If I calculated correctly your totals transaction fees are going to be pretty high 13%? 7% of transfers contribute to permanently locked liquidity; Every transfer or transaction triggers a 5% reflectionary redistribution to all holders of StarBound; In every market transaction 1% is removed from circulating supply forever. Does this high fee not discourage potential new adopters from making a purchase, losing almost 15% of initial investment is a bit much even for crypto meme tokens 🙂
Hi StarBound!
You implemented a pretty unique anti dump feature: Every sell to the market is limited to 33% of a holder’s current balance and selling more than once per day doubles contribution to liquidity. On one side this should encourage users to hold but on the other side liquidity tax is quite high as it is and paying double may be prohibitively expensive if the user has not made profits and needs to sell for some reasons. Will you have a DAO voting to adjust fees in the future according to users’ wishes?