PolkaBridge x Satoshi Club AMA Recap from 10th of September

Hello, Satoshi clubbers! Another AMA took place in Satoshi Club and we would like to introduce to you the AMA session with our friends from PolkaBridge and our guests were @cyclese_polkabridge?—?representatives of PolkaBridge. The AMA took place on the 10th of September.

The total reward pool was 500$ and has been split into 3 parts.

In this AMA Recap, we will try to summarise the most interesting points for you.

Part 1?—?introduction and questions from the Website

Mary | Satoshi Club:

Hello Satoshi Club! We are happy to announce our AMA session with PolkaBridge! Welcome to Satoshi Club

Gold Rocket | Satoshi Club:

Hello again, dear Satoshi Club community! Today our PolkaBridge guest is @cyclese_polkabridge

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

Hello!

Gold Rocket | Satoshi Club:

Hello and welcome to Satoshi Club, @cyclese_polkabridge Nice to e-meet you again at Satoshi Club

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

Nice to meet you guys.

Gold Rocket | Satoshi Club:

How are you doing

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

I’m Cyclese?—?CEO & Co-Founder of PolkaBridge

I’m very happy today.

Gold Rocket | Satoshi Club:

We are really excited about upcoming AMA

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

Sure things.

Gold Rocket | Satoshi Club:

Let’s start!

How did you get to be involved in crypto & PolkaBridge?

You already visited us in January, but remind us a little about yourself and about project

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

I joined the crypto market in 2016 as an investor

Sure. on that time, our project has just finished IDO

Gold Rocket | Satoshi Club:

This is a big milestone

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

After more than 8 months of construction and development, we have had remarkable achievements.

Mary | Satoshi Club:

What had changed since January?

Tell us more

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

Today I return to the community to share what PolkaBridge has done and what we will do in the future.

These are the achievements that we have built

Gold Rocket | Satoshi Club:

We are honored to know about this

You guys did a good job

Thanks for a great introduction, we will have several questions selected for Part 1. Ready to start?

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

Thank you

Yes ready now.

Q1 from Telegram User @JaviSuBs™

Greetings PolkaBridge, I want to start on your platform, but I do not have $ PBR token, where can I get them at the moment and what is their value? What is my benefit within PolkaBridge to have PBR token, can I pay commission fees with PBR token? I have the opportunity to participate in IDO projects, just by having the token? You can explain more about the functionality of the token and how to use it correctly.

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

That’s a great question.

Benefits when you hold PBR

1. Join launchpad
2. Potential to increase price
3. Join governance
4. Stake and farm $PBR, earn more $PBR

We are a Defi Hub, it is the hub of Defi applications, this is essential for crypto users.

Mary | Satoshi Club:

And all these features are live now?)

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

Our launchpad will include 2 rounds: 1st round for users who have participated in PBR staking and 2nd round for the public community (if 1st round is not sold out)

Yes

Mary | Satoshi Club:

Awesome

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

1. You can stake PBR at https://stake.polkabridge.org/
2. Farming at https://farm.polkabridge.org/
3. Join IDO at https://launchpad.polkabridge.org/

Currently, PBR is available on both Ethereum and Polygon platforms.

https://app.uniswap.org/#/swap?outputCurrency=0x298d492e8c1d909d3f63bc4a36c66c64acb3d695&use=V2

https://quickswap.exchange/#/swap?outputCurrency=0x0d6ae2a429df13e44a07cd2969e085e4833f64a0

Mary | Satoshi Club:

How things are going with farming and staking?

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

TVL on farming and staking platform, reached over 4M$

Mary | Satoshi Club:

Wow, great numbers

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

We are currently running staking pools for projects on BSC, Ethereum and Polygon.

Gold Rocket | Satoshi Club:

Wow! Amazing!

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

The total number of users participating is up to more than 3000

Gold Rocket | Satoshi Club:

Your results are incredible

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

Gold Rocket | Satoshi Club:

Thanks for your answers!

Mary | Satoshi Club:

Congratulations

Gold Rocket | Satoshi Club:

Do you want to add something?

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

In addition, we also have a monthly token burn and deflation mechanism burning.

We will burn 1M PBR per month.

Gold Rocket | Satoshi Club:

Can you tell us more about this?

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

The next burn will be next week.

We will burn until the total supply is 50M.

Mary | Satoshi Club:

Oh, that’s a nice event

Thank you for your answers! Ready to proceed?

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

Go ahead.

Gold Rocket | Satoshi Club:

Thanks for your answers and clarification

Q2 from Telegram User @Ajpaa

PolkaBridge is said to provide an insurance fund for it’s users as a way of ensuring the security of their investment through A reserve fund for compensation if any loss occurs. How will this be implemented and who will be eligible for this reserve fund compensation? Is there a % of loss this reserve fund will be able to cover? What other security measures is PolkaBridge putting in place to ensure the security and safety of your users fund and the ecosystem generally?

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

Unlike other Defi platforms, we always have a reserve fund to compensate users when something goes wrong such as hacking, scam IDO projects…

The most recent time in May, we compensated players for participating in a scam IDO project, with a total reward of up to 100k$.

Compensation through PBR or USDT.

Mary | Satoshi Club:

What is the total sum in your reserve fund?

Currently?

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

Up to now, our Dapps have not been hacked, so there is no compensation for this case.

2M PBR & 500k$ USDT

In addition, our contracts have been audited by Certik, so there are no problems

https://certik.org/projects/polkabridge

Mary | Satoshi Club:

Wow

do you plan to increase it or its maximum?

Gold Rocket | Satoshi Club:

Safety first

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

Of course, it will increase. It will be deducted from the Ecosystem fund and a part of the project’s revenue.

The project’s revenue comes from token sales, IDO fees, and soon transaction fees on AMM.

Mary | Satoshi Club:

Fantastic! Your users are safe

Gold Rocket | Satoshi Club:

Thanks for your answers

Ready to proceed to the next question?

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

Sure,

Let’s go

Q3 from Telegram User @Asela1112

You built a bond with PolkaWar & CORGIB platforms Which is more popular for NFTs. So I want to know, Will you integrate NFTs in to PolkaBridge ecosystem with the help of PolkaWar & CORGIB platforms? If yes, What kind of NFTs, Will you offer to the $PBR Community? Will you & your team Create NFTs by yourself or Will you allow the Community artists also to involve in NFTs creating works? What kind of real world benefits, Will Your NFTs have? How about the NFT evaluation process, Will CORGIB & PolkaWar platforms support you in evaluation process? Will your NFTs be available on PolkaWar & CORGIB NFT marketplaces in future?

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

GOOD QUESTION

PolkaBridge’s ecosystem currently includes:

1. PolkaBridge?—?Multichain & CrossChain Defi application platform

   2 .PolkaWar?—?NFT Gaming platform

2. CORGIB?—?meme token and NFT marketplace platform

Currently, PolkaWar and CORGIB are still in the process of building and developing. Once mainnet live, we will integrate PBR to increase the diversity of PBR tokens.

Example:

PBR will be integrated in PolkaWar. Game players need to hold PBR and PWAR to participate in the match. PBR will also be used to reward players.

You can learn more about the PolkaWar project here https://polkawar.com

Mary | Satoshi Club:

Yes, that’s a great project!

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

For the CORGIB project, we will develop the NFT Marketplace, where users can buy and sell NFT items created by them.

You can learn more about the CORGIB project here https://corgib.polkabridge.org/

Gold Rocket | Satoshi Club:

You are in absolute crypto gaming trend

Mary | Satoshi Club:

When you plan this Marketplace to go live?

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

PolkaBridge’s ecosystem is very diverse, in many fields. Projects will support each other to develop together. Of course, PolkaBridge is the center of development.

Mary | Satoshi Club:

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

Originally planned for September, but due to so much development for PolkaBridge and PolkaWar, we are rescheduled to October

Mary | Satoshi Club:

But it’s almost here

Thank you for your detailed answers!

Gold Rocket | Satoshi Club:

Thanks for your great answers.

Mary | Satoshi Club:

Ready to jump to the next question?

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

Sure.

Q4 from Telegram User @yellowchamp

On your roadmap Q4 2021, you plan to migrate $PBR to MoonBeam parachain and you will integrate PolkaDot into PolkaBridge DEFI application AMM, Staking, Farming, LaunchPad. So, why do you decide to migrate $PBR to MoonBeam? What are the advantages of MoonBeam? Can you tell us an advanced idea more about the migration of $PBR to MoonBeam? As you will integrate PolkaDot into PolkaBridge DEFI application AMM, Staking, Farming, LaunchPad, what do you think will be the outcome upon bridging to Polkadot? Why do you need to integrate Polkadot and not launch your own Staking, Farming, LaunchPad in your platform? Could you explain more the mechanism of Staking, Farming, LaunchPad upon integrating to Polkadot? Thank you

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

Moonbeam is a smart contract platform on Polkadot, it allows us to develop Defi applications on Ethereum on Polkadot. We decided to use MoonBeam and not through a parachain auction, because we developed smart contracts on Ethereum, using Solidity language. So when we integrate Moonbeam, it will be very easy, there won’t be much technical change.

Therefore, through the Moonbeam parachain, PolkaBridge will be able to interact with PolkaDot, thereby integrating PolkaDot into PolkaBridge’s existing Staking, Farming, Launchpad, AMM platforms.

Gold Rocket | Satoshi Club:

It makes sense.

Mary | Satoshi Club:

For those who are not familiar with Polkadot ecosystem can you explain which choice did you have and why you choose Moonbeam? Or there was no choice?

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

And with Moonbeam, you just need to use METAMASK wallet (or Trustwallet) to interact with PolkaBirdge, no need to use PolkaDot’s own wallet .

It will bring convenience to users, especially those who are familiar with Metamask

Gold Rocket | Satoshi Club:

Really this is a convenient solution

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

For example, you have tokens on PolkaDot wallet, you can bridge to Ethereum and swap it in a very normal way.

Gold Rocket | Satoshi Club:

Thank you very much for the clarifications and answers!

Let’s proceed to the next question

Mary | Satoshi Club:

This solve a lot of problems!

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

What you need to do is add a new RPC on Metamask wallet called MoonBeam Network .

And then, transfer the bridge token from PolkaDot to the Metamask wallet. You can then swap on PolkaBridge’s Multichain AMM normally, like Uniswap…

Q5 from Telegram User @Jamesxmen

13th- 19th of September, PolkaBridge plans to release MultiChain AMM V1 (Support Swap ERC20 token) & MultiChain AMM V2 (Support Swap BEP20 token & Polygon Token) will release in the end of September. Can you tell us more details about this interesting Swap system? How will be the efficiency of those AMM versions? How will be the Swap fees on both AMM versions? Can Users exchange any kind of ERC20, BEP20 tokens through these Swaps? What are the main liquidity pools that you use to maintain adequate liquidity in these AMMs?

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

This is how PolkaBridge AMM works.

Mary | Satoshi Club:

Which kind if tokens users can swap?

Gold Rocket | Satoshi Club:

And will there be an airdrop, I would like to add to the question

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

Multichain AMM, which means you only need to stand in one place and can interact with many different blockchains. You don’t need to use Uniswap, PancakeSwap anymore.

You just need to use PolkaBridge Multichain AMM, you can swap tokens on ERC20, BEP20, Polygon, Polkadot platforms in one place, just set up network on Metamask wallet (or Trustwallet…)

Mary | Satoshi Club:

Ahaha

this sweet word

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

And the transaction fee is 0.2% (cheaper than Uniswap 0.25% and Pancakeswap 0.3%).

Everything will be thoroughly audited before running, so it will be absolutely safe.

Mary | Satoshi Club:

Yes, transaction fees are very attractive

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

We are planning to airdrop for top 100 users with a large monthly trading volume. Please wait for the specific announcement after AMM launches

In addition, we will use 20% transaction fee to buy back and burn PBR. That will increase the value of PBR in the long term

Mary | Satoshi Club:

Satoshiclubbers, check this

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

It can be said that you don’t need to use Uniswap or Pancakeswap anymore :))

Mary | Satoshi Club:

Ahaha, can’t wait to try

Gold Rocket | Satoshi Club:

Thanks for your answers.

Are you ready for the last question of this part?

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

YES.

Q6 from Telegram User @Jonahapagu

Polkabridge has on its platform a Prediction Feature where users can Participate in predicting the market and receive rewards for being correct. how does this your predicting feature work, what are users predicting on or about, what is the requirement for participating in the prediction market, and what will be the rewards for users who get accurate predictions in PolkaBridge’s Predicting market..

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

Prediction is our future product where players can predict the price of assets and tokens to make a profit.

We currently do not have a specific plan for this product.

Currently, we are focusing on perfecting Multichain AMM and following it CrossChain AMM.

Mary | Satoshi Club:

But I can predict that if you will create this it will be something special

Part 2?—?live questions from the Telegram community

Q1 from Telegram user @slla1112

What are PolkaBridge Project acceptance criteria? I read that your launchpad will be 2 turns. If the token runs out in the 1st round, will there be no sales to the public?

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

We select quality projects, based on the following criteria:

1. Team doxxed
2. Have MVP or Beta
3. There are big backers behind
4. Have a strong community
5. Reasonable Tokenomics Design

From next IDO, our launchpad will include 2 rounds: 1st round for users who have participated in PBR staking and 2nd round for public community (if 1st round is not sold out). We don’t do whitelist rounds anymore.

Q2 from Telegram user @Gbasdfg

The total supply of $ PBR is 100,000,000. Do you believe that this large supply will have a negative impact on the token price? How will these tokens be distributed?

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

We have a monthly token burn mechanism and a transaction token burn mechanism. So total supply will decrease gradually. In the next 2 years, Total supply will decrease to 50M (maximum)

About tokenomics, you can read more in whitepaper https://polkabridge.org/docs/whitepaper.pdf

Q3 from Telegram user @alberto_vzla

I liked that you said that players must have PBR and PWAR to participate in the game. PBR will also be used to reward players. What percentage of PBR is destined to incentivize or reward these players according to their participation?

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

PBR will be integrated into the PolkaWar Gaming platform, to reward players.

Regarding allocation, will deduct a small part from PolkaBridge’s marketing fund. It won’t be much, mainly for the purpose of introducing and promoting the PolkaBridge brand.

Q4 from Telegram user @Pratze

Hello, I’m interested in PolkaBridge new stake system for $PBR on Polygon, what makes this new staking better than another stake? and how about the calculation of APY ? can you explain?

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

We just launched staking on Polygon, the transaction fee is very low (about 0.1$). Every month, 200k PBR will be put into the staking pool as a reward for stackers.

You can read more here https://polkabridge.medium.com/polkabridge-integrates-with-polygon-full-stack-scaling-solution-stake-pbr-on-polygon-with-lower-c6bd6e0a7ea8

Q5 from Telegram user @habibi_ve

You mention that we can participate in IDO projects by holding $PBR. What is the minimum amount of $PBR I must have in order to participate in IDOs?

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

If you want to join IDO, you must stake at least 3000 PBR.

Q6 from Telegram user @DK177

$PBR has been listed on some exchanges including uniswap and MXC. However, don’t you have a plan to list some major and popular exchanges such as BINANCE and Bittrex Global? Your current average price is 0.4$. However, it seems you had an ATH of 0.8$. Do you think that you can reach 1$ if you list on some major exchanges?

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

As planned, we will list Top1 exchanges this month. Please wait for our announcement.

Q7 from Telegram user @Karry1999

What plans have you made for the Marketing and advertising for the Polkabridge project? What Strategy have you made to attract a large amount of investors and users?

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

In terms of marketing, we will continue to connect with famous influencers, to introduce PolkaBridge to more investors.

And especially

We will be attending the Defi Summit (WNDS), which will be held in Dubai on September 23.

This is also a big marketing step.

Q8 from Telegram user @Xusuo

I hear that PolkaBridge just launch new development about Multichain Automated Market Maker (AMM) DEX, could you explain more detail about this feature? what chain that you support?

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

Multichain AMM, which means you only need to stand in one place, and can interact with many different blockchains. You don’t need to use Uniswap, PancakeSwap anymore.

You just need to use PolkaBridge Multichain AMM, you can swap tokens on ERC20, BEP20, Polygon, Polkadot platforms in one place, just setup network on Metamask wallet (or Trustwallet…)

The transaction fee is 0.2% (cheaper than Uniswap 0.25% and Pancakeswap 0.3%)

First, we will integrate Ethereum, BSC and Polygon. Later will integrate Polkadot, Solona

Q9 from Telegram user @Kabirkapoor9

What is deflationary farming? How we can get benefits out of it? How its different from normal farming?

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

PolkaBridge Deflationary Farming is different from 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.

You can join farming at https://farm.polkabridge.org

Q10 from Telegram user @MdLuffyo

Does your platform allow for different cross-chain swaps? Does PolkaBridge platform need any parachain slots? Why did PolkaBridge choose Polkadot, do you plan to integrate it into different networks in the future?

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

We are not participating in Parachain auction but will develop on Moonbeam parachain.

Cross-chain Swap is one of PolkaBridge’s most important and prominent products. Currently, there are many different blockchain platforms, so Cross-chain will be the solution in the future.

Part 3?—?Quiz Results

In the final part, we tested your knowledge in terms of PolkaBridge. They’ve prepared 4 questions for this part. The total reward pool for the quiz was 300$.

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