TradeStars is an NFT and DeFi project aiming to take fantasy sports to a whole new level, merging the benefits of blockchain technology with real-life sports to appeal to sports fans everywhere. Users are able to use real sports game statistics while trading their favorite players, in addition to earning rewards on the side.
These days, many new and exciting NFT and DeFi projects are launching their tokens to be made available to the public, opening up the doors for everyone to get a taste of the action.
To that note, the TradeStars team has announced that they will be having an IDO (Initial DEX Offerings) for $TRX on the BSCPad and ZeroSwap platforms. The event is scheduled to take place on May 4, 2021.
Here’s a quick summary about the project and further details regarding the upcoming IDO.
TradeStars is a new fantasy stock trading platform running on the Ethereum and Polygon Layer 2 blockchains. It functions similarly to a typical stock exchange, but adds the crypto element along with additional methods to earn revenue – this creates a fun and interactive way for users to collect and trade.
Users can purchase and trade stocks of their favorite athletes, where the price of each stock is derived from real-life sports games and player performance (in addition to market supply and demand). Any of the assets can be traded at any time, and the performance of each player is tokenized through NFTs.
Knowledge serves as power on the platform, as users can also receive rewards from other user’s transaction fees depending on how much they’ve invested in the different markets. Its overall business model takes monetization to a whole new level.
Currently, TradeStars offers cricket and soccer markets in which users can participate in. There’s more to come in the pipeline, as they’ve announced that they’ll be adding markets for eSports, basketball, American football, and more.
IDO and $TRX Token Details
$TSX is TradeStar’s ERC-20 governance token. It gives holders governance power to vote and make proposals for the project, in addition to the ability to earn lucrative rewards from participating on the platform.
The IDO will be launched concurrently on both BSCPad and ZeroSwap on May 4, 2021 at 2:30 PM UTC time, giving users the freedom to choose their preferred platform.
Below are additional details surrounding the IDO and token distribution/metrics:
$TSX Public Sale Price: $0.16
Available Tokens for Sale: 1.5 million $TSX
Initial Market Capitalization: $240,000
Maximum Amount to be Raised: $120,000 per platform
Users will not be required to partake in whitelisting for the event
Both platforms won’t require a minimum or maximum contribution cap, so users can contribute as much as they’d like during the sale.
BSCPad is a decentralized IDO platform on the Binance Smart Chain network. It was created to create a fair rewards distribution system for participants and provide every tier level with an assured allotment of funds.
Users are required to have BUSD (Binance’s dollar-pegged stablecoin) as collateral to buy $TSX to allow them to invest in the IDO through the BSCPad.
ZeroSwap is a decentralized exchange aggregator protocol that is compatible with multiple chains. It was built to allow for on-chain gasless and zero-fee trades and serve as an umbrella across several different blockchains.
For those interested investors that intend to participate in the IDO through ZeroSwap but are not yet registered on the platform they will need to first buy and deposit $ZEE tokens and have enough ETH to make the transaction and pay for gas fees. Additionally, participants will need to apply for the IDO and claim a “Proof of Participation” ticket. The winning tickets will be selected allowing only the lucky individuals to participate in the IDO.