May 3, 2021, New York – TradeStars, the innovative blockchain-powered fantasy sports trading game, is pleased to announce the launch of their IDO (Initial DEX Offering) on May 4th, 2021. The IDO for TradeStars is currently open. This means users can purchase $TSX tokens (the native token of TradeStars) across ZeroSwap and BSCPad from today.
TradeStars takes Fantasy Sports to the next level. It accomplishes this feat by providing players with an exciting alternative to traditional sports betting/fantasy sports markets. Players are allowed to monetize and trade fractional NFTs that represent real-life athletes. Fans can then use their real-life knowledge of sports and their favorite athletes to invest in specific sports stars. The actual performance of the athletes will impact their value in TradeStars, either going up or down.
The game is run by smart contracts on the blockchain. This allows for the creation of fractionlized NFTs for each athlete. The key ingredient of the game is the ability to fractionlize, or split up, these non-fungible tokens representing major athletes as it allows players to gain partial ownership of assets. The result is that there will be no arguments or fights on who has Mike Trout, LeBron James, or Lionel Messi. Players will be able to invest in a fraction of said sports stars. This carries the additional benefit that opportunities to trade on the biggest stars are substantially increased.
Chris Hentschel, the founder and tech lead, states, “We are gamifying DeFi economic incentives with a fantasy stocks platform where users can express their passion for sports, compete against each other with true digital ownership, transparency, liquidity, and decentralization.”
The Technology Behind TradeStars
TradeStars has the honor to be the first decentralized fantasy stocks trading market. Smart contracts on the Ethereum and Polygon (formerly Matic) Layer 2 blockchains completely manage all of the trade execution, stock prices, real-time athlete performances, and user funds. The use of these smart contracts on the blockchain ensures players have certainty and reliability of real-time happenings with their holdings in the game.
Fractional NFT markets are the main items on the TradeStars platform, and in effect, act like the liquidity pools seen on conventional DEXes (decentralized exchanges). A fractional NFT market is composed of real-life performances of sports people tokenized through the Fractionable NFT; and its circulating supply of shares or “Smart Tokens.”
TradeStars IDO Details
- IDO date: May 4th 2021
- Price of TSX token: $0.16
To join the IDO, investors will need to complete the whitelisting process.
- Acquire $BSCPAD tokens to participate in the upcoming IDO.
- Make sure to hold enough tokens to meet the criteria for the tier and pool weight you want to achieve.
- Claim your $TSX tokens after the sale completes.
- Acquire and contribute $ZEE tokens to the staking module.
- Apply for the IDO and claim a proof of participation ticket.
- Winning tickets will be drawn, giving holders the chance to buy $TSX.
- Claim your $TSX tokens after the sale concludes.
Further details of the whitelist process can be found here.
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