KuCoin AMA With PolkaBridge — Multichain & Cross-chain Decentralized All-in-one Financial Application Platform

2021/12/17 10:12:07

Dear KuCoin Users,

Time: December 15, 2021, 14:00-15:06 (UTC)

KuCoin hosted an AMA (Ask-Me-Anything) session with the CEO and Founder of PolkaBridge, Cyclese, in the KuCoin Exchange Group.

Project Introduction

PolkaBridge is a decentralized all-in-one financial application platform. The PolkaBridge ecosystem is expected to include Multichain and Cross-Chain AMM, Farming, Lending, Fundraising platform (Launchpad), Prediction, NFT, and more. All products will be developed with Polkadot in the center.

Official Website: http://polkabridge.org

White Paper: https://polkabridge.org/docs/whitepaper.pdf

Follow PolkaBridge on Twitter and Telegram.

Guest:

Cyclese — CEO and Founder of PolkaBridge

Cyclese is from Singapore. Before Cyclese created PolkaBridge, he was a web and mobile developer with 5 years of experience in a blockchain company. Cyclese participated in investing in the cryptocurrency market in 2017, so he has so much experience in cryptocurrency investment and development.

Q&A from KuCoin

Q: Can you tell us about PolkaBridge? What problems do you solve, both in the space and for the community?

Cyclese:

The feature of PolkaBridge is the Defi Multichain and Cross-chain applications. Today, there are many new and potential ecosystems, so users who want to use the platforms of each ecosystem must use many different application systems. PolkaBridge was born to solve that problem. Just standing in one place, users can interact with many different ecosystems.

Q: Could you briefly describe the milestones PolkaBridge has achieved and about your upcoming plans?

Cyclese:

Over the past 12 months, these are the achievements we have achieved. TVL has surpassed 30 million dollars, with more than 100 thousand investors and users.

Our Products:

- Multichain Staking (BSC, ETH, Harmony, Polygon) http://stake.polkabridge.org

- Deflationary Farming https://farm.polkabridge.org

- Multichain Launchpad (BSC, ETH, Harmony, Polygon, MoonRiver) https://launchpad.polkabridge.org

- Multichain AMM (BSC, ETH, Polygon, PolkaDot) https://swap.polkabridge.org

In addition, PolkaBridge is an incubator, a Launchpad platform for potential IDO projects.

This is the PolkaBridge Launchpad performance.

We reached $100M market cap and listed on KuCoin last month.

This is our timeline for this quarter. Our remaining goal is to integrate multiple chains into our product. Coming soon will be Binance Smart Chain, MoonRiver, Polygon, Harmony... into AMM.

Q: Can you introduce more about the PolkaBridge Launchpad? Can you tell us about upcoming IDOs from PolkaBridge Launchpad?

Cyclese: PolkaBridge is an incubator, a Launchpad platform for potential IDO projects. Read more here: https://polkabridge.medium.com/polkabridge-launches-launchpad-v2-the-multichain-universe-misson-8377161bfdba

There have been more than 20 projects conducting IDO on the PolkaBridge Launchpad platform. The average ROI is around 8x.

Potential upcoming projects on our Launchpad include VoiceStreet, MeMusic. Check more: https://launchpad.polkabridge.org

This is the PolkaBridge Launchpad performance.

Q: Why is PolkaBridge focused on building and developing Multichain AMM and Cross-chain AMM products?

Cyclese: Like I said, there are a lot of ecosystems being created right now. Each ecosystem has its own advantages and disadvantages. But that also brings trouble and complexity to users when they have to use too many applications (AMM, Lending, Borrow, Staking…).

And there is a question, how can blockchains communicate together.

Multichain AMM allows users to swap multiple tokens on different blockchain platforms. For example, they can swap ERC20 tokens with each other, BEP20 tokens with each other… just in one place.

This is our Multichain AMM platform architecture.

About Cross-chain AMM, it is a decentralized exchange, allowing users to swap tokens between different blockchain platforms. For example, users can swap from ETH to BNB or ETH to DOT. Technically, this is a very difficult thing because current blockchain platforms do not really “talk and communicate” to each other well. So it takes time to solve this problem. PolkaBridge will try to implement them.

Cross-chain AMM is expected to launch next year.

Q: Can you tell us about some of your partners and who you plan to collaborate with in the near future?

Cyclese:

We have many partners, like BMW Capital, Casper, KILT, Labs, UniLend, UniFarm, Polygon, Quickswap. They helped us a lot in community development and other activities.

In the future, we will connect with many projects on the Polkadot ecosystem, such as Moonbeam, ChainLink, Clover, to expand our ecosystem and integrate the necessary technologies to develop the PolkaBridge ecosystem.

Q: Can you give an overview of your tokenomics and the utility of token?

Cyclese:

PBR is a special project, as we don’t have a private sale or a seed sale. PolkaBridge IDO took place in January 2021, total raised $200k, IDO price $0.015, 100% unlocked at that time.

A special feature of the PBR token is deflation. 0.5% of PBR will be separated from transactions, of which 10% will be burned forever and 90% will go to the farming pool as a reward for farmers.

Every month, we also burn 1M PBR to encourage the long-term growth and development of the project.

🔥🔥🔥 The 5th $PBR burn was successful.

✅ Total burn value : ~1.2M $

✅ Burn transaction https://etherscan.io/tx/0x2896fc37a558967e4cc364f1230aa1fb84204a5ad8bfec4bf346bd4be6d9d5ba

Our latest burn.

Benefits when you hold $PBR:

1. Join launchpad

2. Potential to increase the price (token burning mechanism)

3. Join governance

4. Stake and farm $PBR, earn more $PBR

https://polkabridge.medium.com/hold-pbr-token-and-earn-with-an-incentive-program-db2504852e4b

Free-Ask from KuCoin Community

Q: If the bear market comes, will your token probably dump? Do you have any plan to prepare for this bear market? How will you handle the panic sell?

Cyclese: The bear market is just a temporary bearish phase of the market. The value of the token will follow the actual value of the project and depend on the product, marketing, and development team. We are not worried about that. We have enough capital to maintain and develop PolkaBridge over the next 10 years.

In addition, PBR token also has programs to encourage users to hold, such as Launchpad, Staking and Farming. You can read more here: https://polkabridge.medium.com/hold-pbr-token-and-earn-with-an-incentive-program-db2504852e4b

Q: How does the PolkaBridge Deflationary Agriculture system work? And what kind of security does the PBR token offer us?

Cyclese:

A special feature of the PBR token is deflation. 0.5% of PBR will be separated from transactions, of which 10% will be burned forever and 90% will go to the farming pool as a reward for farmers.

So that you can join Farming and earn PBR at https://farm.polkabridge.org. More transactions, more rewards for farmers.

Q: One way of getting more rewards is to participate in IDOs of projects by holding $PBR tokens. So in order to participate, is there any minimum or maximum amount of $PBR we need to hold?

Cyclese: You can read more about the PolkaBridge Launchpad Tier system: https://polkabridge.medium.com/polkabridge-announces-new-tier-system-for-launchpad-ido-guaranteed-allocation-93c3b3036ac1

Q: You recently announced the launch of your INO platform. How does the PolkaBridge team work in the NFT environment? What NFT projects do you plan to add to your platform?

Cyclese: In the near future, PolkaBridge will also launch a new product, INO (Initial NFT Offering).

Basically, the Initial NFT Offering (INO) offers a direct way to allow artists and art-related enterprises to offer their limited edition NFTs and distribute them to their fans in a fair manner. It’s more interactive and engaging for their supporters and the communities.

Q: Revenue is an important aspect for all projects to survive and maintain the project/company. How have you been able to build a complete project and what is the way to generate profit/revenue of the token? What is the income model?

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

Q: PolkaBridge CEO says that we can swap ERC20 and BEP20 with each other. As PolkaBridge is a multichain AMM chain, can we swap EEC20 to BEP20? Lastly, as Polka is a multichain blockchain, is the Polka swap fee lower or higher than other chains?

Cyclese: Multichain AMM allows you to swap tokens of the same chain. For example, swap ERC20 to ERC20, BEP20 to BEP20. Cross-chain AMM will allow swap from ERC20 to BEP20.

The transaction fee is only 0.2% and will use 20% of it to buyback and burn PBR.

Q: Can you tell us about the background and experience of the PolkaBridge project development team? And how will they carry out your project during the current pandemic?

Cyclese:

Our team members come from many different countries (India, Pakistan, Colombia). We have a total of 16 members (including developers, marketers, community). They are experienced and very good people. I feel lucky to have such companions.

Experience + youthful enthusiasm, we will take PolkaBridge to a new high level.

Q: I want to buy your token. Is it listed on PancakeSwap, Binance, KuCoin, MEXC or any exchanges? Where can I buy your tokens now? Can you tell us, please?

Cyclese: Now you can buy $PBR token here:

❇️ KuCoin https://trade.kucoin.com/trade/PBR-USDT

❇️ Uniswap: https://app.uniswap.org/#/swap?inputCurrency=0x298d492e8c1d909d3f63bc4a36c66c64acb3d695

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

❇️ MEXC Exchange: https://www.mexc.com/exchange/PBR_USDT

❇️ Gate Exchange: https://www.gate.io/en/trade/PBR_USDT

Q: I’m curious, why choose Polkadot as the center of development? Also, is there any guide or step-by-step process to stake PBR? What are the benefits involved? What security measures are in place for stakers?

Cyclese: Because we are building a Multichain Ecosystem and Polkadot provides the infrastructure to build bridges and make connections with other blockchains as well as the Parachains are connected.

Something important is that Moonbeam provides an excellent solution for developers, allowing solidity smart contracts to work on Polkadot without the need to rewrite. As you can see, our smart contracts are written on solidity (Ethereum language) so using Moonbeam makes us save a lot of resources.

About staking, you can join here: https://stake.polkabridge.org

Q: Is there anything else you would like to share or you want us to know?

Cyclese: Please support PolkaBridge and accompany us in the upcoming development. With PolkaBridge, the best is yet to come.

❇️ Website: https://polkabridge.org

❇️ Twitter: https://twitter.com/realpolkabridge

❇️ Medium: https://medium.com/@polkabridge

❇️ Github: https://github.com/cyclese96

❇️ Telegram Channel https://t.me/polkabridge

❇️ Telegram Group https://t.me/polkabridgegroup

❇️ CoinMarketcap https://coinmarketcap.com/currencies/polkabridge

Thank you and have a good day!