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 Starbound and our guest was @ninjethics and @moonshina – the Solidity developer for StarBound. The AMA took place on 27th of May.
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
Andrés M. | Satoshi
Club:
Dear community, our last AMA session today is with our friends from Starbound,
an amazing project!
Andrés M. | Satoshi
Club:
@ninjethics and @moonshina: welcome
to Satoshi Club, we are glad to have you here.
ninjethics:
Hey! Glad to be here, thank you.
moonshina:
Thank you Andres! It is a pleasure to be here with you
Andrés M. | Satoshi
Club:
How are you today guys?
Pleasure is mine😃
moonshina:
I’m doing fantastic! How are about yourself? I see we are the last AMA!
ninjethics:
I’m alive! Coffee cup number 2 going down. haha.
Andrés M. | Satoshi Club:
So excited for this AMA, I think our community members as well, we have 18k members online 🥳
Gold Rocket | Satoshi
Club:
Greetings! @ninjethics @moonshina ❤️ welcome to Satoshi Club
Andrés M. | Satoshi Club:
Haha enjoy it and let’s begin with this great session.
moonshina:
Here’s to all 18k Satoshi Members, thank you for joining in for our AMA
Great, let’s begin.
Greetings Gold!
Gold Rocket | Satoshi Club:
Introduce yourself please. How did you get to be involved in crypto & Starbound (http://t.me/StarBoundOfficialChat) ?
moonshina:
Sure thing! I am the Solidity developer for StarBound. I was drawn into Crypto
after the end of 17′ bullrun. My first involvement with cryptocurrencies was in
mining. Most of my career until crypto was spent in Aircraft Avionics. Working
with electronics I was excited to find that there were open source
opportunities to operate as a sort of notary agent to support cryptocurrency
networks. Shortly after I began taking programming courses to get more involved
Gold Rocket | Satoshi Club:
You have an interesting story and a great background👍
ninjethics:
My name is Jason, for starters. I am 30 years old and I have been involved with
crypto since july 2017. I heard about bitcoin when the whitepaper released and
loved the implications, forgot about it for several years and the rest is
history. I have been a trader for these past few years but recently decided to
look into brand new projects, I have gotten myself involved in a few. I helped
Pika crypto get off the ground after the community was rug pulled and left for
dead. I was instrumental in the growth of that project. I also helped Space
Penguin community recover from a rug pull, Then i found Stabound, got invested,
then got involved. My main focus is on how crypto can affect the world in a
positive way, so i will be heading up our charity efforts. Philanthropy is my
passion and I have been making plans to make a difference my whole life.
Andrés M. | Satoshi
Club:
It’s an honor to have great personalities here
Gold Rocket | Satoshi Club:
Great experience! 👍
What is the essence of Starbound?
moonshina:
Thank you Andres. It is an honor to be here with you both
ninjethics:
Moon would you like to take that one?
moonshina:
Great question!
StarBound is a community-focused decentralized finance protocol that launched on the Ethereum blockchain on May 4, 2021.
Gold Rocket | Satoshi Club:
For sure!
moonshina:
We are a developing ecosystem that currently consists of our NFT collectibles
available on Rarible as well very unique tokenomics consisting of automatic
liquidity generation, reflectionary yield redistribution, and deflationary
mechanisms.
With have some big goals laid out on our Star Chart (roadmap) that include NFT staking, CryoStaking, Interstellar Exchange, and BlockChain Gaming
Gold Rocket | Satoshi
Club:
So? what plans do you have for the future? And what can we expect from
Starbound?
moonshina:
We are all in crypto for financial reasons, but StarBound aims to create a fun and inspirational space in DeFi for our community.
Gold Rocket | Satoshi Club:
These are great goals! and I think you will definitely be able to translate them into reality!
moonshina:
The first upcoming feature for StarBound is our NFT staking. We are also
reaching out and working with Charity organizations to find ways to contribute
to those in need.
ninjethics:
Yes indeed, I am in talks with multiple awesome charities and we have the green light from one of them to begin setting up our first campaign.
Gold Rocket | Satoshi Club:
Also, we would like to know about your team. Who is on the project team core?
Gold Rocket | Satoshi Club:
This is a very noble cause!👏
moonshina:
Our core team consists of myself as the solidity developer, Ninjethics is our Charity Outreach Coordinator, we have a couple of graphic designers that specialize in 3d modeling and assets, a sound engineer, and our marketing team. As we expand into our future roadmap we will be onboarding more talent as necessary!
ninjethics:
With my experience of these community-oriented projects, my view is that the team is still taking shape. As the project grows we will find more talented individuals from all walks of life with different skill sets to join us on this journey
Gold Rocket | Satoshi
Club:
By the way, I really like your website design. Please pass this on to the
designer 😁
moonshina:
We also encourage anyone joining our community who would like to be involved in part of StarBounds development to reach out to us! We are very focused on our community.
moonshina:
Thank you very much!
Gold Rocket | Satoshi
Club:
Our community is waiting to ask you questions.
Andrés M. | Satoshi Club:
For sure, community is the pillar of each project I think
moonshina:
Great! I’m ready when you are
Andrés M. | Satoshi Club:
Then let’s proceed😁
Q1 from Telegram User @Jonahapagu
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.
moonshina:
Certainly!
StarBound transactions incur a fee that is allotted and automatically incorporated via the smart contract as liquidity on Uniswap v2. This supports the bottom line of StarBound.
A large part of StarBound’s vision is to have an actual impact on humanity. Alongside our success we strongly believe in helping others
Even at this early stage we are reaching out to see how we can contribute to charities.
Andrés M. | Satoshi Club:
How many charities have you helped until now?
ninjethics:
We are working with our first currently.
I am setting up a fundraiser for a charity that has NOT been announced yet.
We are developing a very cool NFT to sell to raise funds. In this way people can donate and receive something of value in return, also the donations will be giving in ETH so it will be trackable to the charity’s wallet.
In this way we can contribute without having starbound tokens sold
Andrés M. | Satoshi Club:
Sure, we understand the project is just beginning, which kind of charity is that who are you helping right now?
ninjethics:
They provide funding for serious operations.
To people who can otherwise not afford them.
Andrés M. | Satoshi Club:
Oh amazing news, could you share us some NFT designs? We love digital art😃
👏 that’s incredible, great job
ninjethics:
Haha! Not yet. I can only say, they will be rather awesome and stick with the space theme to a degree.
It will be the first of many i believe.
3 weeks is my target for having it ready to go!
Gold Rocket | Satoshi Club:
Some hints 🙏😁
Andrés M. | Satoshi Club:
Oh got it, don’t forget to share it with us💪
ninjethics:
Think mars rover met a warthog from halo.
And they had a love child.
Gold Rocket | Satoshi
Club:
It sounds funny😁
ninjethics:
This isn’t finalized by any means but our 3d animation expert has a model already created that we will be altering for the cause.
Gold Rocket | Satoshi
Club:
So thanks for your answers! Ready to proceed to the next question?
ninjethics:
Yes!
moonshina:
Our current lineup of NFT collectibles is available here: https://rarible.com/starboundnft
Yes!
Q2 from Telegram User @yellowchamp
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
Gold Rocket | Satoshi Club:
I like it😍
ninjethics:
I think there may be a misconception here. Starbound NFTs were made by our
developer and future nfts will be made by Moon here or our 3d expert.
moonshina:
Thank you for the question. Rarible was chosen for our NFT platform as they are
a leading NFT maketplace on the Ethereum blockchain and well trusted. They are
also easy to work with ERC 1155 standards and have a simple intuitive UI for
client experience.
ninjethics:
To my understanding that 10% is the royalty attached, so a buyer who then
resells the NFT is giving 10% back to the creator as a royalty.
The creator sets his price when deploying the NFT and gets the majority of that sale price, Rarible charges a small fee of 1-3 % or something i would have to look again
We are not an NFT platform, we simply will be selling NFTS for collect/staking, and now charity as well
Andrés M. | Satoshi Club:
Who is the designer?
ninjethics:
Moon made all the NFTS currently available.
Our new 3d expert and graphic designer who will be helping out will have his personal Rarible page linked on our website eventually so people can check out his work.
Andrés M. | Satoshi Club:
Oh, great job @moonshina 👏
ninjethics:
He goes by Token Designer and has some amazing stuff
I don’t have links handy but with his permission, we will put his Instagram and rarely up for people to check out.
Andrés M. | Satoshi Club:
Thank you so much for the clear answer. Would you like to add something else before the next question?
ninjethics:
Thats all from me.
Andrés M. | Satoshi Club:
Yes please😃
Q3 from Telegram User @NataliyaKil
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?
ninjethics:
Moon is having issues with his power. That would be a question for him.
Cryostaking is called that because i thought it would be a cool name so he will name the contract that.
Andrés M. | Satoshi Club:
Interesting name
ninjethics:
It fit the space theme haha.
We don’t have a specific launch date for staking yet, moon is working hard on the contract but i can give you a little info about how thats being set up.
In essence, by holding an appropriate NFT (one of the spaceships).
You unlock the staking ability, which is PASSIVE.
So you do not need to stake or unstake tokens, therefore avoiding fees.
However.
Gold Rocket | Satoshi Club:
In fact it sounds original and symbolic 😁
ninjethics:
You will need to REFUEL your starship, using the Starfuel NFT.
moonshina:
The 10% royalty from future sells of our NFT’s will be directed towards project
development. Our StarFuel NFT is sold to have direct impact on our StarBound
tokens. While we are expanding our collections, our current StarShips will be
used for NFT staking
Hello everyone I do apologize but electrical power to my neighborhood is intermittent
ninjethics:
Can you tell them about how the star fuel works moon?
Andrés M. | Satoshi Club:
No problem.
Gold Rocket | Satoshi Club:
We are always glad to see you😊
moonshina:
Sure! So for NFT staking, our community will be able to stake one of their NFT collectibles to earn StarBound for a tiered duration and amount multiplier. StarFuel is used to restart each staking period.
ninjethics:
Also mention the burn and buyback?
moonshina:
CryoStaking seems like a fitting name for our holders that will want to
timelock their StarBound tokens to accumulate interest they gain once unstaked!
StarFuel NFT purchases are also used to perform buyback and burns of StarBound.
Gold Rocket | Satoshi Club:
This is a unique solution👍
ninjethics:
Ill have links to Token Designers rarible shortly
In the meantime i think that covers that question?
Gold Rocket | Satoshi
Club:
Thanks for your answers! Ready for the next question?
ninjethics:
I am.
moonshina:
Next question!
Q4 from Telegram User @andrey_seleznov
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 🙂
moonshina:
Great question! We’ve found that 5% redistribution from transactions adds up
quickly and generates more StarBound in your wallet with market activity. From
the moment of your initial investment, you gain more StarBound for every
transaction that occurs after. We also have set our liquidity and burn rates to
be adjustable to fine tune the tokenomics as StarBound evolves.
Gold Rocket | Satoshi
Club:
Tell us please about your tokenomics btw😊
ninjethics:
The mechanics are established to not only provide long term passive growth to holders, but they effectively punish traders and pump and dumpers.
ninjethics:
The aggressive tokenomics also completely crush front running bots.
Andrés M. | Satoshi Club:
Btw, what are the main usecases for Starbound token? Governance?
moonshina:
Certainly! We would also like to take the time to direct our audience to read our latest medium article to help explain our tokenomics https://starboundtoken.medium.com/starbound-tokenomics-101-f059830f8b5a
Gold Rocket | Satoshi
Club:
Does community activity affect the final product?
Thanks for sharing😊👍
ninjethics:
It is definitely a work in progress and the communities wishes will be heard and carried out to the best of our ability.
Andrés M. | Satoshi Club:
Do you have different local communities?
moonshina:
I would like to point out that our token is built not as a quick flip asset as
most tokens are built today, but rather a longer term passive income generating
token. One of the largest difficulties of tokens launching are large holders
dumping their holdings and dramatically decreasing the value of the token
ninjethics:
Not currently but we have had people request a Vietnamese community as well as Arabic. We plan on having communities dedicated to as many prominent languages as possible. As we grow and find more support with translation.
Andrés M. | Satoshi Club:
Don’t forget the Spanish one 😁
moonshina:
Our sell limits are unique. Any holder can sell 33% of their current balance at any time, however our smart contract will detect if multiple sells are occurring and will tax double for liquidity for any sells after the first within a 24hours window.
ninjethics:
Do i see a volunteer? 😘
Gold Rocket | Satoshi Club:
And the Russian-speaking segment too 😁
moonshina:
We do have a Japanese telegram group that has formed!
ninjethics:
Of course!
Andrés M. | Satoshi Club:
Haha of course, great honor
Gold Rocket | Satoshi
Club:
Thank you very much for your answers! Ready for the next question?😊
Andrés M. | Satoshi Club:
Great, it seems you are looking for a global community
moonshina:
Yes! Let’s proceed.
ninjethics:
This is the clutch point for our project which truly enforces our vision of being a long term investment geared toward dividend taking rather than trading
Yes.
One moment.
Before the next question.
I have links.
Andrés M. | Satoshi
Club:
Sure
Go ahead😃
ninjethics:
https://rarible.com/tokendesigner?tab=collectibles
https://www.instagram.com/tokendesigner
Our volunteer artist! check out the amazing stuff.
Andrés M. | Satoshi
Club:
Thank you, let’s check it Satoshiclubbers
ninjethics:
Oh I’m getting webserver down.
On the rarible link.
Andrés M. | Satoshi Club:
True
moonshina:
Yes looks like Rarible is temporarily unavailable.
ninjethics:
Telegram link is working though, you can see the amazing work their.
Pardon
Ok im ready for the next question now thank you.
Q5 from Telegram User @pixma00
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?
moonshina:
Great set of questions
First of all, StarBound had no presale or ICO.
Initial liquidity was provided by the team and locked with team.finance for 1 year.
ninjethics:
Project is already LIVE! ready for investors, Nfts were launched at the beginning! More are on the way but not scheduled.
moonshina:
NFT developments are a steady progress. We will soon launch our Charity
partnered NFTs so stay tuned for that announcement!
Andrés M. | Satoshi Club:
We will, do you have any announcement channel?
ninjethics:
Not at the moment! things are announced on the community channel and our
twitter
That is something i will set up though.
moonshina:
We bring our announcements straight to our telegram community and to our social
media presence on Twitter
Andrés M. | Satoshi
Club:
Sure. Btw, we would like to know about safety, have your contracts been
audited?
ninjethics:
Oh thanks for asking!
moonshina:
https://solidity.finance/audits/StarBound/
ninjethics:
We handled that right off the bat!
moonshina:
We worked with Solidity Finance right upon launching and passed with flying colors! No security issues at all.
Here is the link for everyone to read through if they are interested
ninjethics:
Haha nice sticker.
Flexing.
Gold Rocket | Satoshi Club:
Thanks for sharing and careing about it. Safety first!
Thanks a lot for the answers guys! ready for the last question of this part?
moonshina:
Agreed! Thank you, yes I am ready.
ninjethics:
Yep i think we covered everything so far.
Q6 from Telegram User @belkysgonzalez
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?
moonshina:
We have! We just recently concluded a NFT giveaway contest on Twitter where two participants were each rewarded a Hyper Wing VA-3 NFT!
ninjethics:
I think an art contest is something we are thinking of doing soon as well.
For all the creatives out there.
Gold Rocket | Satoshi Club:
Eh … lucky guys 😁
moonshina:
Yes our next upcoming contest will be a graphic contest rewarded with
StarBound. Details will be announced soon in our community!
Gold Rocket | Satoshi Club:
Don’t forget to invite Satoshi Clubbers! 😊
ninjethics:
YOU BET!
moonshina:
We certainly welcome Satoshi Clubbers to come check us out and join our contests as well!
Part 2 — live questions from the Telegram community
Q1 from Telegram user @testercoin
Do you have any charity organizations because recently some of the projects are distributing some of the transactions into the charity. What about you?
moonshina:
Our current Charity partnership will consist of custom NFTs made by StarBound will all proceeds going directly to charity, No funds will be earned for this by the StarBound team. Will are excited to announce the charity’s name but are withholding the announcement for now per their request!
Q2 from Telegram user @doithay1617
Some big goals laid out on Star Chart include NFT staking, CryoStaking, Interstellar Exchange, and BlockChain Gaming! I am very interesting about Interstellar Exchange, can you give us some information about “Interstellar Exchange”?Does it have anything to do with Stellar?
ninjethics:
Moon, we have touched on the interstellar exchange. mind tackling this one?
moonshina:
Full functionality of the Interstellar Exchange are still being detailed. We expect it to evolve from a single chain AMM to a cross chain cryptocurrency exchange with a focus on LP rewards and low trading fees.
Q3 from Telegram user @Jonahapagu
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 its 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.
moonshina:
As we look forward to our gaming goals, we envision a 3d exploration multiplayer space-themed game with customizable Star Ships and asteroid mining that will reward in Cryptocurrencies. As these types of games take large development teams and years to make, we are considering shorter-term goals in gaming, perhaps a retro-style arcade game with StarBound rewards.
Q4 from Telegram user @Antoni_azx
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?
ninjethics:
So there is currently the 5% redistribution on EVERY transaction, this is divided up among holders proportionally to how much starbound they hold, the more you hold, the more you earn. compound interest BABY! Our second source of relatively passive revenue will come from NFT staking. Though you will have to periodically refuel your starship. Combine these and your holdings will grow rather rapidly.
Q5 from Telegram user @mctrho
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?
moonshina:
Hi Drogon, thanks for the question. NFTs are an integral part of StarBound. We are excited to explore the possibilities and use cases for NFTs and have no end in sight for our development of them. NFT Staking, Charity Fundraising, and In-game assets are just several of the use cases we are looking at and working towards!
Q6 from Telegram user @mctrho
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?
ninjethics:
Every Ethereum project is facing the same issues, on one hand it makes some reluctant to invest, on the other hand it helps us to bring on investors who are serious and see the potential in the project. We cant do anything about Ethereums fee’s, we simply have to wait for the Ethereum developers to roll out the fixes. Although, getting listed on a centralized exchange will take care of the high gas fees, this is something we will be exploring as our community grows.
Q7 from Telegram user @highpee
For a user who has an urgent need to trade token, will it be possible to conduct multiple sell transactions as long as each of this transaction do not exceed 33% of token holdings or are there PENALTY for this?
ninjethics:
You can process as many transactions within the 33% limit as you would like, however, every sell after the first (in each 24 hour period) will face double the liquidity tax. This helps guard against price impact of people dumping their tokens. This is not a project to invest into lightly, it should be viewed as a long term investment in which you take out DIVIDENDS periodically.
Q8 from Telegram user @rockmorti
Vitalik Buterin trolled SHIBA developers when he decided to move a HUGE amount of SHIBA tokens. How does STARBOUND plan to avoid such unfortunate events for hodlers in the future?
moonshina:
StarBound is the first of it’s kind, reflection token with true deflation. All other reflectionary tokens rely on sending tokens to a burn address to accomplish deflation. StarBound’s contract takes care of the computations required to make this happen so we have no need to send our tokens to another wallet for a psuedo-burn that can be dumped by VB. Security is our priority!
Q9 from Telegram user @QueenKarinaa
What are the top priorities for STAR in 2021? Could you share some of your plans for the coming year? Which part of the project are you most focused on right now?
ninjethics:
Our top priorities are obviously, community growth and involvement, exchange listings, partnerships/sponsors/charity outreach. Providing staking mechanisms, a smaller easy to develop a game, and beginning to plan our much grander game development.
Q10 from Telegram user @Ratash97
What are the advantages of restricting wallets from selling more than once per day ?
ninjethics:
People can sell more than once per day, they simply get taxed more, this is to encourage dividend taking rather than trading or dumping.
Part 3 – Quiz Results
In the final part, we tested your knowledge in terms of Starbound. They’ve prepared 4 questions for this part. The total reward pool for the quiz was 300$.
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