Speaker : Mike ( Community lead )
Date : Monday, September 27th 2021
THERE IS 3 SESSION FOR AMA
2. QUESTION FROM TWTITTER
3. FREE ASKING
SESSION 1 ( INTRODUCTION )
Hello Mike Welcome to IDCRYPTO community, we are glad to be with you here.
Hi! Happy to be here.
Thanks for coming in this AMA, we are happy to be here with you.
Excited to see such a large community. Let’s get this started.
Q1. Please introduce yourself and tell how you started a crypto business ?
So my name is Mike, I am Community lead at Polyquokka.finance.
I’ve been in crypto since 2013 -this is when i first bought 0.4 BTC and forgot about it for a couple of years. I came back into the game during the era of masternodes and then the ICO craze later. I’ve been holding, trading and studying crypto since then.
As for the polyquokka- the team was assembled in early June and we planned and studied the space. By the end of the summer we finally had an idea of what we are going to do in the space. We are a team of 4 – 3 devs and me.
While my team members were always Dev’s, I wore many hats. Had a business for 4 years, ran several successful social media and e-commerce projects. My latest gig was corporate- and I realized I never want to do anything like that and dove fulltime into crypto.
impressive, your experience is quite interesting, we are happy to know you.
Q2. Can you explain what is PolyQuokka finance and how long your project launch? Please explain in simple sentences.
The project has launched in stealth mode on August 20, so we are just over a month old now!
Polyquokka is a crosschain ecosystem of dapps that is creating projects that all will be governed by $QUOKK.
Quokk’s vision is crosschain system with bridges, dex, farms and crosschain NFT marketplace. Right now our goal is to expand to BSC and we are running a presale for it. After we have launched on BSC we are launching our own stablecoin.
Cool, this step is good because by joining the BSC network it can increase users too.
Q3. Can you share with the community, what PolyQuokka finance has been doing from the roadmap?
We already fullfilled our launch promises and listings- Polyquokka is active and earning rewards and we are listed on various sites such as dapp radar, coingecko etc.
We were also able to become one of the top used Polygon dapps in less than a month and we are not stoping. Another point is implementing additional burn mechanisms such as lottery- we have acomplished this by partnering with treasurekeybet. Now, our next big step is to go crosschain.
Sounds interesting, thanks for answering the question clearly.
We are very happy to know this progress.
SESSION 2 ( QUESTION FROM TWTITTER )
Q1. NFT is in top trends in crypto world rightnow. What do you think about this? Does Quokka have any plans to add NFT to your ecosystem?
ah, great question, NFTs come in waves and the waves always get bigger and bigger. As a matter of fact, Quokka has already launched its own NFT! We gave it away to our early supporters. This NFT (and other that will come later) will play a key role in our Crosschain NFT marketplace. The current issue with NFTs is that they are single chain entity- moving them around chains (to save on fees for example) is difficult. We want to tackle this problem. Our platform will allow users to seamlessly bridge NFTs from chain to chain.
Also, the issue we find with many projects is that they become trapped within their own roadmaps. If you are yield farm by design there isnt much you can do to grow your project past a certain point. What do you do then? This is why we are pushing to have a multi modal DeFi project- with many different “sub-projects” fueling the growth of the entire ecosystem.
Awesome, it’s been since the start of the launch, Next question.
Q2. Almost every investor is interested in big “Defi” projects as it pays higher dividends. Is there any such step to make your project attractive? As if everyone is attracted to your project
There are currently farms on polyquokka and soon on bsc.polyquokka that give you high yield. but my guess the question os about paying out dividends from platform profits. And this is deffinetely in the plans- once our APR fall to lowish levels we will need income to make holding Quokk attractive to the investors.
Our dividend pools will be launching along with the launch of our Stablecoin Offering, as this is when we get income that we can redistribute to the token holders.
Q3. Farming and staking seems to be one of the most loved features in the crypto space, but as an investor, safety is always the biggest concern. What kind of security protection do you provide to users? How do you plan to secure client assets?
Ahah. As the say- Funds Are Safu! Our current yield farming offering is a panther work with reward lockup period. Projects with this code base were heavily audited. We have Rugdoc review and as soon as the code starts getting complicated- i.e when we launch bridge, stablecoin or NFT – we will be getting a thorough code review from companies like Certik or Paladin.
Nice answer, thanks for explaining this, I hope the community can rest assured of the safety of PolyQuokka, Next question.
Q4. Your project doesn’t have presale for Polygon network, how about DadyKaoka?? Why are you holding an IDO for DadyKaoka who is on the BSC network? But it’s good to give early investors a chance, but I just wanted to hear your reasons for doing this.
So, once again- we are holding a presale for BSC extension of our project on BSC. it starts tomorrow at 3pm utc. If anyone is interested i recommend bookmarking a page for tomorrow, As for the reasons:
When we started the project we were no ones with no social following and no recognition. However now, 1 month since we have gathered some good following, loyal holders and top ranking for users on sites like Dapp Radar.
We did not feel comfortable starting with a presale back then. However now, as we have future and everything is working as planned we need funds to fuel expansion to BSC as well as developing Quokka to beyond what it is now. Also, a presale is great chance for everyone- newcomers get to jump into the project at the early stage and enjoy high initial APRs on BSC.
Current holders receive an additional benefit of the buyback. We will use 1/3 of the funds to buyback Quokk on Polygon, 1/3 for liquidity and 1/3 for further promotion on BSC, Polygon and development.
Nice, with that PolyQuokka your team now has a good track record in public, and that makes people believe, Last question for this session.
Q5. We see APY that reaches thousands of percent on farming, is it still good for your project ecosystem?? I’m afraid there will be massive sales from there.
We have our APRs close to 1000% for almost a month now. As you can see, our price stayed relatively stable after it stabilized 1 week after the launch (which always happens). However as we gain a bit more traction the APRs will stabilize and go lower. Still, regardless of APR the farm/pool emits the fixed number of tokens every day.
But high APRs are great! They attract new users, provide income and help us fuel Quokk growth and adoption. Also, the presale brings in huge buyback- it would be unwise to sell at this point.
A detailed explanation, it is true that high APR can attract many fans from the community.
SESSION 3 ( FREE ASKING )
Many new projects develop well at first, but then fail to achieve good results. How will you manage and develop your project to gain a position in the market and become a good project in the blockchain industry?
Hi Hendra, I believe that diversification is important. Yes, great project succeed with just 1 feature and everyone loves them. However, this is more of a survivorship bias.
In real world a business always adds extra services. Even a restaurant doesnt just serve food inside. They also sell alcohol, host parties, do private events, do takeout.
For a project like ours to survive we need to have profit centers. This is our long term vision and success strategy- to create real profit that dont just come from devs selling their own token, but from services rendered and $ that these bring.
What is your top priorities in 2021? Could you share some plans for the upcoming year? Which part of the project are you most focused on right now?
Hi Mr/Mrs Md Billal, in fact, our project is auto burning system.
every tx incurs a 2% tx fee. In the long run this creates a lot of burning, which puts upward pressure on the price.
This will be especially important when all the Quokk tokens are emitted. This auto burn will make the token deflationary, which obviously is good for everyone.
By that time we plan to have revenue that will be distributed to holders- so there is an additional incentive to hold the token.
I think your project is great so how is the way to buy your token? any presale and publicsale?
Most projects have to go through certain difficulties and challenges, what difficulties do you face and how do you overcome them?
Hi Yuvika, Our greatest challenge is the outreach. The waves of social media are sometimes weird and despite your efforts people dont notice you. But I believe if you keep fighting you will win.
Its like youtube- some creators upload 1 video and become popular overnight, and some have to grind for years to get their first 100k.
With the high transaction speed and cheap gas fees of the Beins Smart Chain blockchain, do you have any plans to launch your MainTate or move to another blockchain in the future? Can you tell us if there is?
We are already on polygon. BSC is next.
We want to be first and early on new and upcoming blockchains. We will have to see when we get there, but Fantom seems to be primed to be the next big thing.
MORE DETAIL ABOUT PolyQuokka Finance