PRESS RELEASE

GameStar Exchange: The Revolutionary P2P Trading Ecosystem

news-image

GameStar Exchange, a P2P trading platform for gift cards, game items, NFTs, and DeFi solutions built on Polkadot, is one of the leading decentralized ecosystems in the crypto market. Pioneering the new uncharted waters our metaverse is expanding into, it enables peer-to-peer traders to participate in the market by directly connecting their wallets without any third-party intervention.

Advertisement

GameStar, with its multi-chain-transaction support, transgresses the limitations of the present game item, gift card, and NFT platforms to bring in multiple utilities under a single roof. It aims to be at the intersection of some of the largest and most dynamic global markets. 

The current league of cryptocurrency trading platforms such as Paxible, Local Bitcoins, etc, suffers from several shortcomings: centralized custody of assets, high transaction fees, poor management, market limitations, frauds, and no substantial platform incentive mechanism. 

Simultaneously, NFT marketplaces, such as Rarible and OpenSea lag, owing to high gas fees, strict KYC regulations, limited product scope and market reach, no incentives, and a complete disregard for the growing gaming and e-commerce industry. 

Working upon these problem statements the founders of GameStar Exchange developed an ecosystem that brings together the utilities of several platforms into one. The USPs of the GameStar ecosystem include: 

  1. Encrypted Chats: The exchange signs all chat messages with an on-chain private key to timestamp messages and ensures that the information remains tamper-proof. 
  2. Multi-chain Transactions: The platform helps users realize on-chain asset conversion while avoiding high transaction fees. This is made possible as the platform supports BTC/ETH/BSC cross-chain transactions. 
  3. Platform Incentivization via GMS tokens: The GMS token is used for granting incentives and promoting community development. GMS tokens perform several platform-specific features such as encouraging fraud resistance, etc, besides the regular native token responsibilities.
  4. Consensus-based Dispute Arbitration: The platform uses the Taurus protocol under which the community votes to select decentralized experts whenever a dispute arises. A certain number of nodes are allocated randomly to review the transactions on the chain to form a consensus judgment on the dispute. 
  5. Less Frauds and Chargebacks: The token reward system helps in dissuading the users against fraudulent transactions and rewards the loyal users. There are no third-party apps like Paypal or CashApp, bank wire, or credit cards involved, hence, no question of any chargebacks. 
  6. Self-Custody of Assets: GameStar has innovatively built upon the aesthetics of a DeFi platform to offer non-custodial services to all its users. This means the users manage their own private keys so as to manage control over their assets.
  7. Decentralized and Immutable Transactions: All the transactions on the platform are hosted in smart contracts. This helps in avoiding the risks associated with a centralised management system. 

GameStar boasts huge market potential while acting as a facilitator for various markets and increasing the liquidity of digital assets. Its low KYC requirements and affordable fee structure would further help in reducing entry barriers to users. 

GameStar Exchange IDO Launch Pad

GameStar is all set to go live with its first IDO sale on the 27th of October in an all-transparent and trustless way. The IDO will be launched on three decentralized crowdfunding platforms, namely:

  1. PolkaEx (at 10.00 AM UTC)
  2. DuckSTARTER at (2.00 PM UTC), and
  3. Lightning (at 8.00 PM UTC)

This is the first Gamestar Exchange IDO taking place after a successful pre-launch seed stage in the second quarter of 2021. The IDO will take place in four stages where 25% of the tokens allotted will be distributed at the Token Generation Event followed by more events in the next 3 months with the remainder spread equally. 

GMS Tokenomics

GMS is the native token of the GameStar Exchange platform that would lend several advantages and uses to the holders such as: 

  1. Using the token to pay trading fees will reduce the fees by 25%
  2. The investors  and operating funds can gain additional liquidity 
  3. Can be used as a universal token with other gaming-focused platforms
  4. Supports an incentive system to reward loyal users and discourage fraud
  5. In the coming future, it will support several international use cases. 

A total of 10 billion GMS tokens will be introduced to support the economy of the platform and its community development. Of the total token supply, 1% of the tokens will be allotted for the IDO event. The tokenomics involved constitutes the following allocation:

  1. Seed – 2.40%
  2. Private A – 4.00%
  3. Private B – 3.60%
  4. IDO – 1.00%
  5. Team incentive – 15.00%
  6. Marketing and operations – 3.40%
  7. Liquidity – 0.06%
  8. Ecosystem – 60%
  9. DAO – 10%

The GameStar Exchange IDO, is the first of its kind, given the idea behind it. Lock in your dates and become a part of the next revolution that aims to build its potential by reigning over the existing fragmentation and boundaries in current blockchain, DeFi, and gaming applications.  

Show More

Disclaimer : The opinion expressed here is not investment advice – it is provided for informational purposes only. It does not necessarily reflect the opinion of Coinpedia. Every investment and trading involves risk, so you should always perform your own research prior to making decisions. We do not recommend investing money you cannot afford to lose.

PR Manager

Press release about recent ICOs, announcement from startups, new cryptocurrency launch by firms and unlike.

Related Articles

Back to top button