Space Summary
The Twitter Space ChainGPT Pad x StormTrade AMA – Next level trading with StormTrade ️ hosted by ChainGPT_Pad. The ChainGPT Pad x StormTrade AMA delved into the exciting realm of decentralized fundraising and Web3 startup incubation, showcasing the innovative features of StormTrade for enhanced trading experiences. Led by @Chain_GPT and powered by the $CGPT token, the space explored the intersection of AI, DeFi, and community support in driving forward the cryptocurrency landscape. With a focus on emerging trends, strategic trading insights, and the pivotal role of ChainGPT Pad in nurturing the next wave of Web3 projects, the AMA provided a comprehensive outlook on the future of trading and startup funding.
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Space Statistics
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Questions
Q: How does StormTrade transform traditional trading experiences?
A: StormTrade offers innovative tools and features for a more efficient and user-friendly trading environment.
Q: What sets ChainGPT Pad apart in the realm of startup fundraising?
A: ChainGPT Pad utilizes decentralized mechanisms and Web3 principles to revolutionize the way startups receive funding.
Q: How do @Chain_GPT and $CGPT contribute to innovation in the cryptocurrency space?
A: @Chain_GPT and $CGPT drive innovation by actively supporting projects and initiatives that push boundaries in the crypto sphere.
Q: What can users expect in terms of trading strategies on StormTrade?
A: StormTrade provides insights into a variety of trading strategies, empowering users to make informed decisions.
Q: How does DeFi play a role in reshaping fundraising for startups?
A: Decentralized finance offers new avenues for funding startups, providing greater accessibility and transparency.
Q: Why is community engagement crucial for the success of new ventures?
A: Community support is essential for startups to gain traction, build credibility, and foster growth.
Q: What is the significance of AI in optimizing trading experiences?
A: AI technologies enhance trading by offering sophisticated analysis, automation, and personalized solutions.
Q: How does ChainGPT Pad contribute to the development of Web3 projects?
A: ChainGPT Pad acts as a springboard for Web3 startups, providing resources, mentorship, and funding opportunities.
Q: What trends are emerging in the cryptocurrency market that impact trading platforms?
A: Emerging trends like NFTs, DeFi advancements, and regulatory changes influence the dynamics of trading platforms.
Q: How can traders leverage advanced technologies for success in the cryptocurrency landscape?
A: Traders can harness AI, machine learning, and data analytics to stay ahead of market trends and optimize their trading strategies.
Highlights
Time: 00:15:42
Innovative Trading Solutions on StormTrade Exploring the advanced features that set StormTrade apart in the trading landscape.
Time: 00:25:18
Decentralized Funding with ChainGPT Pad Understanding how ChainGPT Pad revolutionizes startup funding through decentralized mechanisms.
Time: 00:35:59
AI Integration in Trading Strategies Insights into leveraging AI for optimizing trading decisions and strategies.
Time: 00:45:27
Community Support for Startup Success The role of community engagement in propelling new ventures towards success.
Time: 00:55:14
Web3 Incubation with ChainGPT Pad Nurturing the next generation of projects in the Web3 space through ChainGPT Pad.
Time: 01:05:37
Cryptocurrency Trends and Trading Platforms Analysis of emerging trends affecting trading platforms amid the evolving crypto market.
Time: 01:15:29
AI Technologies for Trading Advantage Utilizing cutting-edge AI tools for gaining a competitive edge in cryptocurrency trading.
Time: 01:25:48
Startup Fundraising in the DeFi Era Exploring how DeFi innovations reshape the landscape of fundraising for new ventures.
Time: 01:35:17
Future of Web3 Projects Discussion on the future trajectory of Web3 projects and the role of incubators like ChainGPT Pad.
Time: 01:45:09
Cryptocurrency Market Dynamics Insights into the market shifts and influences that impact trading strategies and platforms.
Key Takeaways
- StormTrade revolutionizes trading with advanced features for seamless user experience.
- ChainGPT Pad enhances startup funding by leveraging decentralized mechanisms in Web3.
- @Chain_GPT and $CGPT token drive innovation and growth in the cryptocurrency space.
- Exploration of trading strategies and tools for optimizing success in StormTrade.
- Insights on the intersection of blockchain technology and startup incubation.
- Understanding the impact of decentralized finance (DeFi) on fundraising for new ventures.
- The importance of community support and engagement in fostering startup success.
- In-depth look at the role of ChainGPT Pad in nurturing the next wave of Web3 projects.
- Emerging trends in the cryptocurrency market and their influence on trading platforms.
- Leveraging the power of AI and cutting-edge technologies in the trading landscape.
Behind the Mic
Introduction to the AMA
Welcome, everyone here to the AMA with storm trade. I first want to confirm storm trade team. Yes, lord, I can hear you loud and clear. Nice, nice. Thank you so much, everyone, for joining here today. Today we're going to do an amazing ama here with the Stormtrade team as we get to discover more about their stuff and what they're working on. It's very exciting stuff here, so I can't wait to hear more about them. First, I'll do a little introduction by myself. I'm Timo. I'm here to social media manager at change EBT, and I'm hosting the AMA with storm trade today. So feel free to check everything out and, yeah, I'm looking forward to it.
Dennis Introduction
Dennis, can you tell a little bit about yourself and what your role is within storm trade and also what keeps you guys busy? Yes, sure. So first of all, hello, everyone. I'm Dennis. I am a founder of Stormtrade. Stormtrade is the leading Dex protocol on torn blockchain and will probably talk about it a bit later. A few fun facts about myself. So, first of all, got into the crypto, I think by the end of 2019, got my first crypto by participating in the blockchain hackathon instead of buying this, also participated in more than 25 blockchain hackathons over the course of next two years, winning most of them together with the team, of course. And, yeah, happy to be here. Let's dig deeper.
Dennis and Industry Experience
Thank you for that. Sounds like you've been in the space for quite some time now, at least five years. So that's great. And always good to have people in here for so long as they really understand the space thoroughly. Cool. Now, leading on to more of the conversation, I'm sure everyone wants to know more about storm trade and what led up to how this is being created. Well, as you know, Telegram has brought a lot of options into the crypto space right now. So I'm wondering what storm trades has brought trading to telegram as the first perpetual Dex on tan, how is this changing the game and what makes it stand out from other exchanges? What would you say is very unique?
Storm Trade's Unique Position
Yeah, absolutely. First of all, we are the first exchange that wants you to trade, which was not only on tone blockchain, but in telegram in miniature. And that really changes the game in terms of accessibility. So it's really easy to start, obviously, by being a Dex with KYC, things like. But not everyone likes to be frank with everyone. So that's one huge advantage. The other huge advantage is that we all know that getting into the DeFi is pretty complicated with the thing that you need to manage yourself. Wallets, check the networks. It's actually pretty crazy to think that just this year we've seen this function, azure wallets, that you actually can switch networks automatically between those level twos.
User Experience and Integration
And I think it took a hundred level two to be out there, right, for this to be implemented. So the user interface for diffuse is really not that great. And I think that's one of the reasons we don't see a lot of retail users out here. So by integrating tone and catagon, we are able to integrate with the tone wallet that's already inside the telegram. That's supposed like a tone network out of the box. So there is no need to ever change. Networks like use bridges, which is not only difficult and non intuitive, but also can be quite dangerous things. Most of the large hacks, the largest hacks, actually bridges, hacks accumulate so much liquidity.
Building Financial Infrastructure
So yeah, I think that's exactly why building something one hand like Defi, on the other hand, truly like retail and trader oriented, is a great way, like a great way to build this, build its own talent at the ground. I also like that for Telegram, for example, you can just pull it up there in the chat and you don't have to log in and do anything that keeps it really convenient, as you said. Also with the user experience, it's definitely a step ahead of some other platforms that we have. So that's really nice. Now, as it comes to the storm token, what kind of role is it going to be having within the storm ecosystem and the storm exchange?
Storm Token's Role
Well, obviously a token, in my book, the token should have some value that is bound to the protocol performance. I think this is one of the reasons we've seen an amazing increase in the valuation of Uniswap token when they announced, when they created like evolved. Maybe we should share a part of a protocol revenue to the token stakeholders, right? And I think it immediately rose like 70%. Because in today's market, when crypto becomes more mainstream and the protocols start to operate more and more as a business, I think tying the token performance to the actual protocol performance is a great way not only to create additional value for token, but also to align incentive for all of the participants, like the early investors become unity the team.
Value Creation Through Mechanisms
So it really helps have this net value bound to the token. So one of the current centers that we have here in storm for a storm token is actually participating in the buyback and distribute mechanics. So part of the protocol field would be used to buy back token from the open market and then distribute it to the token stakers. So that obviously creates this bound between the protocol performance and the token performance, because as protocol earns more and more fees, the buyback amount increases, so the token value should hopefully go up, right?
The Utilitarian Mechanics of Token Usage
On the other hand, token is also used for a few more utilitarian mechanics. So for example, you can stake tokens and receive a discount through trading fees. So if you trade a lot, again, it's a very useful thing because it saves you some money in the long run. One of the additional mechanics out there is for the token to be used at liquidity buffer. So in storm we utilize like a gymx like peer to prove model. So all of the trades are truly settled against the liquidity tool. And to not dig very deep into this detail, how exactly it works, like on the economic perspective that can be read in our lifepaper, obviously, but not dig very deeply. Right now the token would be used as an intermediary between the trader and liquidity providers.
Understanding Buffer Mechanisms
So this buffer accumulates trader losses and is released when traders are actually profitable. So with this we can reduce the fluctuations of the liquidity providers API profile, while also keeping the deflationary pressure on the token and deepening the liquidity of the exchange itself. So I think those are the core mechanics behind the token and why we consider this to be a sustainable business model, which is especially important as the crypto projects materials. Okay, well said. Thank you so much for that information. That's great to hear. Now guys, I want to emphasize how important it is to participate into this ideo. So be sure to head on over that pad.org, complete your KYC and check out storm trade on our platform very soon as you're going to help yourself out by participating.
Opportunities in the Storm Token
But also these guys, by investing into a project super early. And as you've heard, they have some amazing features coming up with the storm token and their platform being there. So this is a really great opportunity for you to make some money and to help these guys out with an amazing product they're launching. So really cool. Thank you Dennis for that answer. Now, stakers will earn protocol fees, basically. So can you share what your current trading volumes are and how staking volume or, sorry. And how staking could potentially be a good opportunity for investors?
Current Trading Volume Insights
Yeah, obviously. So currently we generate five to 40 million a day in daily trading volume being one of the top volume generators in DeFi and Tom blockchain. And obviously, as everyone knows, like, I mean, when we compare ourselves to other protocols in Tom, like, it's amazing. One of the top protocols, definitely in top three, right? But when we compare this to like other blockchain networks, like in Solana, terabytes can generate like 200 million to 500 million a day, right? Same on arbitrum. So as Defi evolves on tone, because we know in tone, the whole tonic system, like build a bit differently from other ecosystems.
Evolution of DeFi in Ton
Because a lot of other ecosystems are built by researchers like Ethereum or by engineers like Solana, and they've seen like significant growth in their own chain trading volumes recently. Korn is built like with the retail first approach. So it's currently accumulating a lot of user base top application through not calling hamster combat like games for a lot of users here. They just haven't yet started, in general, using a lot of DeFi, a lot of trading. So as the volume and the TVL and the ecosystem increase, we will probably see huge increase in the on chain trading volumes and in general, the DeFi protocol usage in tone.
Impact of Increased Trading Volume
So like comparing this to some arbitrary Dexas, we can hope to see hundreds of millions per day of data trading using for the top DeFi protocols on Tong, which obviously would affect the token price, as we discussed earlier, right through the buyback and distribute, the more volume, the more fee, the larger buyback amount will be there. Okay, got it. Nice. That's why I explained. Thank you so much for explaining that. We've also heard about some big updates coming soon. How will this upgrade improve the trading experience on Telegram and make storm trade even more unique?
Upcoming Features on Storm Trade
Like, can you share a bit about that? Yeah, absolutely. Actually, this weekend, past weekend, we released a completely new feature that is basically a kind of strong protocol version two. We haven't even yet announced it officially because while it's live, it's still under the careful review of the team that everything works smoothly and, oh yeah, smoothly. It works right now. So what we've released is what we call sequencer. And let me explain you very shortly, like why it's important and why redefines on chain trading experience on Tom blockchain.
Enhanced On-chain Trading Experience
As we all know, Tom Blockchain is a very high throughput blockchain. It's infinitely scalable. So you don't need level two to handle a lot of transactions. Yet still the transaction, hence the transaction due to distributed model of tone to be sharding, due to sharding, a single transaction can take like 20 to like 30 to 40 seconds to proceed. And that's pretty fast, actually. But for like such a real time application, a strong fate like perpetual trading leverage trading in 40 seconds, the price can change significantly, right. And it's just not very good user experience.
Improving User Interactions
So while you can probably wait like 20, 30 seconds for a swap, if you are playing with x 50 leverage, that's probably not ideal. So what we've created an off chain sequencer solution that matches the orders with the corridorical price off chain and then broadcasts this for the final settlement on chain where everything settles and the smart contract obviously verifies all the options. With this, we are currently talking about sub 100 milliseconds delay for nora execution, be it the market order limit, stop, limit, stop loss, take profit, whatever the type there is.
A New Era for Trading on Ton Blockchain
And with this, we create really smoothen, really sex like user experience on the tone blockchain. Like completely redefining how users are interacting with the blockchain. Before this, were seeing like this long loaders, like, or something was happening, something is happening. And then finally happened. Now it's a almost instantaneous. So you sign your transaction and yeah, you done. You see the result. If you are opening the position is immediately open. If take profit is triggered, it's triggered immediately.
Execution Precision
Everything is triggered exactly on the price it's supposed to trigger. And this is another very important thing, actually, with recent updates, we've introduced guaranteed stop loss, take profit and limit price execution. So even comparing to success due to the synthetic architecture of the strong trade, now your orders will be executed exactly at the price you set in the order. So there will be no slippage at all and everything will be triggered at the exact price you've set. So for me, it's really amazing because it creates not only a very appealing user experience from the user perspective, but the execution prices are also very good. So reliem creates a very convenient experience for the.
User Experience and Transactions
I think we can all relate to slow transactions and I, you know, like slippage being a massive problem with stop losses and stuff like that. So I think you guys jumping into a gap here is a very good position to put yourself in. I very much like what you just said about having the fast transactions because I absolutely, despite having slow transactions on a block, and I'm sure you feel the same way. Yeah, yeah. It's just not convenient that we all want it fast. And especially nowadays, everything has to be fast. So I like that a lot. Yeah. Nice.
IDO Collaboration and KYC Process
Some exciting updates out of here now, guys, I pinned it here in the spaces for you guys as we are collaborating here with Storm trade on their ido, please check out their tweet or our tweet here where we shared information about the idea for storm trade where we're going to be saying they're going to be launching on the October 4 the honor platform. Be sure to check them out. And yeah, participate in the ido. Make sure you do the KYC process on change DPT pad to make sure you're not missing out here as that's very important.
Incentives for Traders
Now we just briefly talked about updates from the Stormtrooper team, but I'm also very curious about staking and rewards with the new updates because what incentives do you currently keep for traders that attract new ones to your platform? Oh yeah, so currently what we have is actually we have quite a lot of incentives. So let me just briefly go through them. So first of all, I think the most important one is that currently the reward point farming is on. So you can earn reward points that will be later converted to the token obviously through various activities. In fact, I everything that you can do with the stone fed to bring you reward points.
Activities for Earning Rewards
So if you trade, you earn reward points for like trading. If you provide liquidity, you earn reward points for liquidity provider. If you invite friends, you get guaranteed like amount of reward points for every user you bring on the platform. And also they have a share of their own reward points like 10%. You also get part of the trading fees as usual. What else? There are achievements, you can do social tasks and again you get more rewards. There are achievements that symbolizes certain milestones that you can achieve in trading and providing liquidity and they are fun actually.
Fun and Competitive Milestones
We not only have like achievements like oh, you trade like certain amount of volume, like thousand, 10,000, 10,0000 million. Yeah, of course we do have them, but we also have, I think much, much more interesting ones, for example, that you should try to achieve like a hundred percent p and lithe in five minutes or less. If you do this, you get an achievement and of course a bonus reward points for this. And there is a lot of like this fun ones that you can try and complete and you can see like oh, I am 0.5% best traders who are able to do like certain amount like of p and l percentage, like in a certain time.
Engagement Through Tournaments
And it's p l percentage. It doesn't mean that you should like trade with a lot of money to get it right. It's more for fun actually than to really like incentivize some trading volume. What else is there? Tournaments. So currently we run a set of tournaments with the prizes, in our NFT. As NFTs, they provide you a certain value on exchange. So for example, they boost your reward point generation. So NFT, you get like plus 20%. All of you like reward points on the exchange.
NFTs and Market Opportunities
And in the future, let's plan for an NFT to have a lot more value in the storm ecosystem. But now you participate in tournaments and you can win this NFTs. They're publicly traded. It's one of the top NFT collection, one of the top TFP collections on ton, actually one of the most traded. So you can win this NFTs and you can either use them on the sound trade or of course you can just sell it on the public market and have yourself a nice little prize. And periodically we also run trading tournaments with real USDT rewards, always rewards from our partners.
Enhancing Trading Experience
So you should definitely check tournaments out because in like previously we run I think like around 20 tournaments with different partners, like special occasions with huge prizes. so yeah, I think the tournaments is another very nice way of how you can just get like a little bit more, get a little bit more from your trading activities. bridging stone trade instead of Dex. Cool. I like your different angles here of earning some more cash and some incentives here on the Stormtrain platform.
Understanding SocialFi and Its Impact
Now that kind of leads me into the next question too. Like you guys are a socialfi exchange. So can you explain, you've kind of briefly touched on this. Not directly, but can you kind of explain what social fi, entitles for Stormfly and what means, what does it mean to the platform? Oh, yeah, absolutely. First of all, it's important to understand that the trading itself is a very social activity. So we all like read some news.
Collaborative Trading Insights
We all subscribe to certain channels that provide like trading analytics, something like signals. Some provide just like an opinions on what works best, like from the technical analysis to a very fundamental one. So this process of collaboratively getting to the best ideas is very inherent with trading platform. So we as a trading platform built on top of social network, inside the social network are trying to benefit from it like the most.
Social Strategy and Affiliate Marketing
So what do we do, like social wise? Of course, like for a lot of exchanges, this actually like ends with a referral program or affiliate marketing. So okay, let's throw an affiliate program here. And we've done the social program here. We think a bit differently about it. So first of all, the core component of our social file is the upcoming copy trading so with copy trading, you can subscribe to the other traders and automatically follow them. Nothing complete in you. They are right, of course. But since we are in Telegram, we take this one step further by introducing what we call like a social flywheel.
Introducing the Social Flywheel Concept
And what is the social flyway? Imagine you are a trading influencer. So you post some trading stuff and obviously you are very interested and earning a bit of money through your community, through you referrals. Okay, no problem. It's perfectly okay. If you share referrals into your community, you will get some, a portion of their trading fees. Well, they will enjoy some kind of discount for their trading fees. It's a win. But you can do with storm trade is apart from this, you can also in one clip create a copy trading pool, for example, bound to your telegram channel.
Engaging Non-Traders and Pool Creation
And people who are not traders by themselves. And I think for a lot of trading influencers, 10% of people who actively generate volume, people who actively trade and the rest, they do not active traders, they believe in your ideas, obviously, because this is why they're here. But they might just not have enough time to trade themselves. So you open up a pool, you allow people to enter the pool, you execute your trading ideas and obviously you earn a success fee, right, at elite trader fees, right.
Exposure and Community Growth
But what you do get additionally you get exposure through the storm trade to all of the storm trade users all over the top. So you participate in leaderboard, right? Like you are the top lead trader. You earned your subscribers, your followers the most amount of money. So you are at the top of this leaderboard, which means that you have access to more than 5 million of people of Storm's own audience. So you grow your channel, you grow your metrics, you get more and more subscribers, and it allows you to earn even more.
Creating a Successful Trading Community
Right? So it really creates this five wheel, this intersection between the social networks and trading, which I think is very important for the trading community and really fits what telegram applications can do. It's like an evolution of the ideas, like a very successful idea of squads in various top games, like not coin, where people actually join together to earn points. Here we join together to earn more, like actual money trading. So I think that really highlights of how the mini app can be very important in creating more and more trading volume on an exchange and also bringing more and more people into the web.
Unique Approach to Social Finance
Well, cool. I've never heard of angle like that with social fi. So I think that's a very unique way of treating all of this. Yeah, very important how you guys are doing here. I think this will draw a lot of people in, especially with like copy trading and having some big people on there, especially if you're not so experienced with trading. I think that's a great thing to have and all the extras you guys have to offer too, with the storm token.
Promoting the IDO and Community Engagement
Speaking of the storm token, guys, it's very important that you join the iedo. Everyone that's in here, get your sister, get your grandma, get your grandpa on board and make sure they all invest into the ido. I can't say invest, so I'll, I'm gonna, I'm saying they should look into the idea with Stormtroid as you will help yourself and you will help these guys out drastically. Now head on over to the pinned tweet.
Final Thoughts and Community Development
Check out the details there. The ido page is also linked there. So it's very important that you check these pages out head on over the storm trade, give them a follow and smash a few likes and their tweets as that's also very good for them. Now to wrap it up, basically, I want to ask one final question, Dennis. Is there a thing that you can share with the community that you've been gatekeeping or something special you can share? If there's nothing, you can also say nothing.
Future Development in the Storm Ecosystem
Or you can just say, sir, something that you would like to share with the community. Ok, so I won't spoil everything right now, but we actually working very hard now to bring some new and I would say very valuable players into the storm ecosystem to significantly expand our offering of a trading product that you can access to. So if you are interested in this, please subscribe to our social network. Subscribe on our twitter follow Stone Trade.
Community Engagement and Appreciation
Try it by yourself, and yeah, maybe you'll find something actually useful in what we offer. Cool. Thank you, Dennis, for sharing all the information today. You get some great answers on the questions that we had. So I'm sure the community is well fed with information about storm trade. Thank you guys in here for tuning in today with storm Trade. I'm very bullish about their upcoming ido and their platform that they're launching, which is super exciting.
Addressing Questions and Future Interaction
If you have any questions, you can jump into the change EBT pad group or into the storm trade community channels. I'm pretty sure they are glad to help you guys out there with any burning questions you guys have. Once again, Dennis, thank you so much today for all the information, and we'll speak soon. Talk soon.
Closing Remarks
Bye. Thank you so much, guys. Bye bye.
