BlockTalks x Polkally AMA Transcript!
Hello! BlockTalkers & Blockchain Enthusiastic!
We recently hosted an AMA with Polkally, on May 15th at 2.00 PM UTC. Many of you might have participated or many of not. But we make sure no one missed out from the knowledge shared by Chloé Bigot, CEO of Polkally. So here we are up with the AMA transcript, for those who missed the live session, this blog post will be a saver & feeder of knowledge for them.
Introduction Questions Asked By Team BlockTalks!
Q1. Could you please introduce Polkally to our community in layman’s term?
Ans — Polkally is essentially a decentralized marketplace project for NFTs, powered by EVM-based blockchains as well as Polkadot.
Q2. What are the advantages of Polkally to other alternatives in the Blockchain field?
Ans — Our biggest advantage is probably the interoperability allowed by our multichain protocol. Polkally will be chain agnostic, it means that you’ll be able to use it on your favorite blockchain networks. Ethereum, Ethereum Classic, Tron, Polygon, EOS, BSC, TomoChain, etc. Being able to move assets (in our case, NFTs) between different blockchains in a totally seamless way is very good for user experience, decentralization and resilience.
Q3. What are the major milestones Polkally achieved so far & what are in the future pipeline?
Ans — https://bit.ly/3vFqTfL
As you can see, we fundraised $700k USD so far. And we have a dual-IDO in the pipes, planned for May 19th on Zeroswap (ZeeDO) and Poolz
We also got incubated by EuraTechnologies. One of the biggest accelerator for startups in Europe and the largest one in France.
Questions Asked on Twitter For Polkally Team!
Q1. What are the security measures you adopt to ensure that Your project is reliable and secure?
Ans — Our smart contracts will be fully open source and audited by (at least) two external IT security firms.
So security won’t be an issue at all, we’ll make sure that our code is flawless.
Q2. Rug pull is Being too much. In this situation, How can we trust you and when are you planning to listed on a CEX?
Ans — Our Uniswap liquidity will be locked for (at least) 12 months. So we won’t be able to "push the rug".
Regarding centralized exchanges, we are in touch with three of them (all from the top 15).
More info should be available during the next couple of weeks.
Q3. Can you explain a bit about the concept of Decentralized KYC for artists? How this feature can benefit certain users? Will your project use a third party or build the system by yourself?
Ans — The purpose of this decentralized KYC is to store (and encrypt) our users' sensitive information in a P2P environment, to prevent data loss or theft.
We’re going to build it from scratch, on top of IPFS.
Q4. What do you think will have the greatest impact on the value of $KALLY? And what do you expect the community to know from Polkally that will help investors profit in the long term?
Ans — Definitely mainstream adoption. That’s what all blockchain companies are looking for. Having a product adopted by the masses would be the most successful milestone. And that’s what we have in mind, for the long term.
Once our platform is available, we will once again multiply the partnerships with mainstream influencers (and not only the crypto ones this time).
Q5. I could read that they had planned to develop their IDO this month, but has it really already been done? If not, when will it be done? will we have the opportunity to participate?
Ans — As I’ve said above, both of our IDOs are planned for May 19th on Zeroswap (ZeeDO) and Poolz.
If you’re owning (at least) 1 POOLZ or 3,000 ZEE, you should be able to participate in the whitelist process.
Questions Asked by our BlockTalks Community Members during live Session to Polkally Team!!
Q1. Is your social media very helpful for the development of a project such as Twitter or medium? Is your project thriving as social media promotes your project?
Ans — Yeah, communication is really important. That’s why we’re spreading all our news through Twitter, Medium & Telegram.
Let me share our social network links
Telegram Group: t.me/polkally
Q2. Does PolkaIIy support any betting or mining scheme? If yes, what are the requirements?
Ans — No we’re not. But we have staking and yield farming campaigns in the pipes. These incentives are really important, if we want our ecosystem to be as healthy as possible. More info should be available soon. So make sure to join our different social networks.
Q3. During the 2020 I got scammed a few times, rugs, exit scams etc. – how can we investors be sure that this will not be similar, are your contracts public & somewhere to be seen?
Ans — Our team is public, we are registered in France, our Uniswap liquidity will be locked using smart contracts and we got incubated by EuraTechnologies, the biggest accelerator in France and the third largest in Europe.
We are being supported by +10 VCs including ExNetwork Capital, Blocksync Ventures, Bigcoin Capital & Titans Ventures.
So I think that our investors can feel pretty much confident.
Q4. What do you think is the biggest problem Polkally will solve which is not solved by other projects and why is the problem important to solve?
Ans — Definitely the lack of interoperability in the NFT space and crypto in general. Privacy (which is also central to the cypherpunk ideology) is not respected by many projects. Polkally will be fully open source and decentralized.
The transactions will be managed by the blockchain(s) and personal data will be stored in a decentralized infrastructure.
Q5. PolkaIIy is a great project..but we know that sometimes the token gets burned and it increases the token’s value. Does your token have any Coin Burn / BuyBack system, or do you have that plan to increase the value of your token and attract investors to invest?
Ans — That’s right. There is a 5% standard fee when you use the platform. And half of this transaction fee is being burned. It means that if you’re buying a NFT for 100 $KALLY. 2.5 $KALLY will be returned to our project, in order to fund our activities. And 2.5 $KALLY will be taken out of the total supply of the project, forever.
That’s a really nice incentive that should make the token scarcer over time.
Here are some important links of Polkally👇
🌎 Website: http://polkally.com/
📱 Twitter: http://twitter.com/polkallynews
📢 Telegram: http://t.me/polkally
📚 Medium: https://medium.com/@polkally