Kwikstarter — Kwikswap x Polkasocial AMA Session Recap

1pm UTC | 26/09/2021 | Kwikstarter.org

Danny | Kwikswap Staff — Organiser

Daryn Addams, Polkasocial

Hello All

James Lee, Kwikswap

Welcome Daryn!

Danny | Kwikswap

Okay let’s get started

Danny | Kwikswap

Could you please introduce yourself @darynaddams

Danny | Kwikswap

Your Position in Polkasocial and how did you get involved into Crypto? 😀

Daryn Addams, Polkasocial

Founder of Polkasocial and have been in crypto since 2017, just before the bull run, wish i had got in early. Come from have a tech background in traditional finance so the transistion to crypto was quite organic.

Danny | Kwikswap

Could you please introduce Polkasocial in Layman’s term to the Community?

Daryn Addams, Polkasocial

Polkasocial is a decentralised social network that feels like its being released at just the right time considering everything going on in the world presently. It provides a simple to use familiar UI and user experience and also features NFT and Lending features alongside all the regular Facebook-esk features a user would be used to.

Danny | Kwikswap

Okay let’s start with Preselected Community Questions and I’ll be asking some additional questions as well. Here comes the 1st Question

Danny | Kwikswap

How will you attract users? What will make users abandon other platforms for yours? Imagine a big barrier will be for them to leave their old content on the old platform.

Daryn Addams, Polkasocial

This is a great question and a reason we will be attacking the crypto market and the NFT market first before we go more mainstream.

Daryn Addams, Polkasocial

Overcoming the barrier of content, we offer people the rewards of their content and their usage. Getting paid to be part of a community.

Danny | Kwikswap

[In reply to Daryn Addams]

I’m sure you hear the news that Twitter will allow their users to tip everyone they like with Crypto? Will you have something similar in Polkasocial?

Daryn Addams, Polkasocial

Every action that a user engages in will result in a fractional Polkasocial token reward for the user, users will also be able to share in ad revenue and we have some exciting new features coming out just after TGE that involves higher regards and greater staking rewards also on tokens already earned on the platform.

Daryn Addams, Polkasocial

and to expand on that answer , every poke, like, photo post, NFT post, follow and lots more will receive PSN rewards

Danny | Kwikswap

[In reply to Daryn Addams]

That’s really nice

Danny | Kwikswap

How many people you already have registered?

Daryn Addams, Polkasocial

to date we have just over 21k in user. this is now growing organically every day. After TGE we have a mass marketing campaign ready to be deployed

Danny | Kwikswap

[In reply to Daryn Addams]

Wow. That’s a good Number already.

Danny | Kwikswap

Next Preselected Question

Danny | Kwikswap

Since Polkasocial will be totally decentralized, are there any plans for some form of moderation against false information and social engineering?

Daryn Addams, Polkasocial

Yes , we will introduce a governance system within a few months and this will be moderated by shakers of PSN token. There will be a limited number of moderators allowed into the governance system and everyone will be equally weighted. More news about this will be released over the coming months, but this is a main feature for us to enable the protocol to be truely decentralised.

Danny | Kwikswap

[In reply to Daryn Addams]

Thank you.

Danny | Kwikswap

Since you are mentioning PSN Token already few times could you please share few words for PSN Tokenomics for us and what will be the major Benefits for holding the Token actually?

Daryn Addams, Polkasocial

Initially we are minting 300 million tokens, we will be burning a large sum of these also. Staking PSN will earn rewards and also offer benefits on platform for promoting posts and social lending benefits. We do have a white paper that can be viewed in PDF format on our website. Staking rewards will be set at between 12–15% APY and on our Metamask integrated release (Start of October), we will also have some premium user tiers also available where staking earns greater yields, NFTs and unlocks other features on the platform such as who viewed your profile etc. etc.

Danny | Kwikswap

Thank you for sharing.

Danny | Kwikswap

Next Preselected Question

Danny | Kwikswap

What’s the revenue model for decentralized social network?

Daryn Addams, Polkasocial

think the previous answer kind of covers off on part of this. The Platform will rely on advertising, future iterations will include features where users can select which advertisers they want to hear from and those they don’t. The users will receive a share on any ad revenue from any particular advertisers they have viewed. Lending also attracts micro charges etc. There is also a marketplace much like facebooks and many other features that really make it a self sustaining ecosystem.

Daryn Addams, Polkasocial

The key difference between Facebook and Polkasocial is that Polkasocial doesn’t harvest users touch points, data and onsell to third parties

Danny | Kwikswap

[In reply to Daryn Addams]

Do you have already good numbers of Advertisers interested in Polkasocial?

Daryn Addams, Polkasocial

We have prospective advertisers looking now, any user can set up advertising currently on the platform. We have some large crypto entities that are awaiting rate cards for large advertising campaigns though which we are in the process of developing.

Daryn Addams, Polkasocial

Big thing is anyone can advertise

Danny | Kwikswap

[In reply to Daryn Addams]

Yeah that’s definitely big opportunity actually for everyone

Danny | Kwikswap

Last Preselected Question

Danny | Kwikswap

How do you plan to attract all the projects to your platform? Do you plan to specialize long term in NFT’s,gaming or social platform or do you plan to do all and if so how to compete with top projects in that groups?

Daryn Addams, Polkasocial

We plan on attacking each segment of the crypto community as it’s our desired space first — so the Ethereum, Cardano, Kusama, Polkadot, Polygon, Avalanche, Solana and Bitcoin communities. Then we have also built a similar database to Bitclout where we can import users and offer incentives to join the Polkasocial ecosystem and community.

Daryn Addams, Polkasocial

We believe that we have a completely different social network to everyone else out their in crypto currently, so we will work on refining all the sticky features of our own network to help add to it’s success

Danny | Kwikswap

What are your Marketing plans for the upcoming weeks/months. You said you plan big Marketing Campaign after TGE?

Daryn Addams, Polkasocial

Our marketing plans involve bringing in users en masse from direct marketing to the different crypto communities we mentioned earlier in the AMA. It also involves onboarding numerous KOL’s / Influencers into the Polkasocial stable to help aid us gain faster adoption through trusted sources.

Danny | Kwikswap

Thanks for your answers @darynaddams

Danny | Kwikswap

Admins you can open the Community Chat for some more questions if you would like to

Danny | Kwikswap

So @darynaddams can answer few more

Daryn Addams, Polkasocial

Go for it

Dylan,

Chat is open.

Steve Rogers, community member

As you know Covid-19 has a large impact in the crypto Market, So How can your company maintain Polkasocial and also the team that are working hard during this pandemic?

Danny | Kwikswap

Guys ask your Questions if you have

Steve Rogers, community member

What is Polkasocial long-term vision about the industry which you are working on? Are you afraid some day there will be another project with more innovative technology can replace your project?

Steve Rogers, community member

How does the Polkasocial token work in Your ecosystem, and is there any benefit for investors to buy token in the long run?

Steve Rogers, community member

What is the structure of Polkasocial , is it decentralised or a open sourced protocol where everybody can contribute? If so, how does the governance plan on being handled?

Paul, community member

Lending, Borrowing and other DeFi services are so much repeated in many DeFi projects, so what is the real innovation that Polkasocial is bringing to DeFi? What are you able to do that other cannot?

Paul, community member

There are 3 core issues prevalent in crypto and blockchain:

Security, Interoperability, and Scalability. so

How does Polkasocial plan to overcome these issues?

Paul, community member

Southeast Asia is a very vibrant market and many project developed here so with Polkasocial what do you think about Southeast Asia and do you have any plan to develop here?

Paul, community member

Can you explain how is Polkasocial Tokenomics Distribution? How many tokens Will be minted ? And How many tokens Will be locked by the team?

Daryn Addams, Polkasocial

If anything, I believe Covid has really brought Crypto more mainstream, we have a global team that is used to working online . Over zoom, telegram etc. so we actually find that more people are online and finding crypto for the first time. But it is a a great question.

Paul, community member

Do Polkasocial plan to build partnerships with local cryptocurrency developers and local project in each country to make the use of the token more global?

Steve Rogers, community member

[In reply to Daryn Addams]

Did you answer mine sir?…

Paul, community member

What is Polkasocial strategy for marketing and for Mass Adoption ? How do you evaluate the support from the community?

Daryn Addams, Polkasocial

[In reply to Steve Rogers]

We could worry about other projects , rather we are head down working on revolutionising the NFT marketplace by integrating NFT galleries into our social network — where users can showcase their artwork for zero fees. This is cutting edge. We are also the only startup to be working on social lending / borrowing through a truely social network ecosystem.

Daryn Addams, Polkasocial

[In reply to Steve Rogers]

yes

Steve Rogers, community member

[In reply to Daryn Addams]

Thanks ☺️

Daryn Addams, Polkasocial

[In reply to Paul]

Social lending will be peer to peer through Polkasocial and include a face to a name / wallet. We are also building come escrow services that will compliment our DeFi offering

Danny | Kwikswap

Okay @darynaddams I think that’s enough. You covered everything. 😉

Danny | Kwikswap

Final Words for Community please?

Daryn Addams, Polkasocial

[In reply to Paul]

Security, we have regular audits of our code and we use AWS servers, Scalability — our desired state will be utilising Polkadot, first iteration on BSC for lower and faster TPS, Interoperability — we are looking at cross chain solutions further down the track.

James Lee, Kwikswap

Thanks for your time Daryn! I know it’s late where you are! Best of luck on the IDO Launch!

Daryn Addams, Polkasocial

[In reply to Danny | Kwikswap]

Thanks for taking the time to join today. Questions have been very thoughtful, and I hope I have been able to answer them to your satisfaction. Looking forward to seeing you all on Polkasocial..

Polkasocial dual IDO Launch — coming soon!

We will be running two IDO Launches for Polkasocial within the next 14 days accross two top IDO Launch pads, the first one that we can mention is Kwikstarter which is running on the Polygon Chain. We can’t wait to let you all know of the second IDO Launchpad, but we can tell you that it is run by a highly successful team in the crypto space!

Check out Kwikstarter IDO launchpad: https://kwikstarter.org

About Polkasocial

Polkasocial is a decentralized blockchain based social network, NFT marketplace and social lending platform. With Polkasocial , users can follow peers and influencers, live stream, play games and much much more!

Website | Twitter | Telegram | Infosite | GitHub

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