AMA with Starshot

On the 24th of August, 2021 at 16:00 UTC, Decentralized Club had the honor of hosting Mr. Mason, Developer of the StarShot Project for an Ask-Me-Anything session on their Telegram page with a community of over 30,000 people. It was hosted by DC Admin, May.

The session was divided into four segments. Introductions were made in Segment 1, questions from the Twitter and website community were answered in Segment 2 and 3 respectively, and live questions from the community members in attendance were answered in Segment 4.
 
If you missed this event and would like to know what StarShot is all about, you can find a recap of the interview here. Note that slight edits have been made for clarity.

Segment 1 - Introduction

[May]
Hello, 大家好, नमस्ते, Selamat!

My name is May and I'll be hosting the AMA with Starshot.

Today, we have with us a guest from the Starshot Team.

You're welcome and it's an honor to have you here.

Could you quickly tell us more about yourself and your job description at Starshot?

[Mason]
Yes! My name is Mason, I am a 24-year-old developer. I am based out of the United States. I started investing in cryptocurrency around the beginning of 2017. It taught me well. I am one of three developers. We have a team of 15.

[May]
Awesome!

Let's take some project introductory questions, shall we?

[Mason]
Please!

[May]
Q1. Can you tell us the goals that birthed the idea of Starshot?

[Mason]
I have worked on multiple coins for a long time now. I enjoy the business a lot, and I want to deliver a fresh and innovative idea to the people. I see all these rewards coins, I want to give people rewards of their choice

[May]
Nice!

Q2. How does Starshot work? How can a user gain rewards from it?

[Mason]
Starshot works by circulating a percentage of buys and sells back to holders in rewards of your choice. You will get to choose these rewards on our dApp

[May]
Nice!

Q3. Could you please tell us a bit about these products: Star Vault, Star Stake, and Star dApp?

[Mason]
StarVault- an LP and team token locker, mostly for KCC
StarStake- a system of farms and pools on our interface 
StardApp- where you decide your monthly rewards

[May]
Great!

Q4. What is the utility of $SST and why would you advise anyone to hold it?

[Mason]
The biggest utility is that we are going to lock LP and team tokens on KCC. It has taken months for reliable LP lockers to come around on BSC, we are looking to do this fast on KCC

[May]
KCC? Great choice!

Q5. What are your upcoming plans or events?

[Mason]
We plan to create bridges on to KCC and ethereum by the end of the year

[May]
Good to know!

It's time to take questions from our Twitter community.

Ready?

[Mason]
Of course!! Would love to hear from the community

[May]
Great!

Segment 2 - Twitter Questions

[May]
Q1. You say that on StarShot rewards are paid hourly directly into our wallet and that it is not necessary to manually claim our rewards. Could this payment frequency (24 times a day) be modified in the future depending on the needs of your platform or users?

Twitter Username: @iracundito

[Mason]
We have the option to turn the rewards anywhere between you receiving them once hourly and once every 300 days. We will never turn it back to this infrequent, but there may be some times of low volume where we may turn the time down some if that is what the community decides on. Personally, I prefer leaving hourly rewards because everyone should see the rewards no matter when they get in or out, but there may be some times when the community decides otherwise.

[May]
Good to know!

Q2. 8% buy transactions tax and 16% Sell transactions tax which helps keep bots away and provide rewards to holders. what happens in a situation where there isn't enough demand or supply to facilitate transactions, how would rewards be circulated?

Twitter Username: @repmujduolc

[Mason]
In a situation like this, rewards would need to be distributed less often. We would turn the frequency down some and allow rewards to build up a little more in a time of low volume

[May]
Q3. StarShot is available for trade at PancakeSwap from what I read. My question is, do you plan in the future to list it on decentralized or centralized exchanges? How have you managed so far to make liquidity not an issue for your native token and get the trade flowing quickly?

Twitter Username: @TheShadowJK_1

[Mason]
Yes! The first plan will be to fork the BoggedFinance repository onto our website so that we can list on there. Next, we will shoot for some small-level exchanges. one that I really like is P2P. After this, we will begin scouting out more large-level exchanges. Due to regulatory issues, I do not love Binance. I plan on listing on Kucoin in the long run as our A tier goal exchange

[May]
Awesome!

It's time to take questions from our website community.

Ready?

[Mason]
absolutely!!!

[May]
Okay!

Segment 3 - Website Questions

[May]
Q1. One of the notable features in StarShot is the anti-bot feature. Can you share more about this feature? Besides anti-bot, what about anti-whaling? In the near future, do you plan to include anti-whale features in your project?

Telegram Username: @trungquan9

[Mason]
The anti-bot feature is a big point that we care about a lot. Our team of devs has already launched one successful token, and we are proud to say that we never struggled with any bots. We have contract techniques, as well as a blacklist function in case bots do manage to get past our contract, to reject bots. For an anti whale feature, we have both a maximum transaction, and the maximum wallet is 1%

[May]
Q2. I see that StarShot will NOT offer rewards in any tokens, but instead multiple tokens from PancakeSwap’s Top 100. Can you tell why another token and not the $STARSHOT token? What competitive advantages does this give StarShot? Also, will it affect the value of the $STARSHOT token?

Telegram Username: @bigboicity12

[Mason]
We actually changed the mechanics on this. Now, starshot will be offering rewards in any BEP20 token of your choice. We want to remain true to the fundamentals of crypto, and give the people as much autonomy as possible.

[May]
Q3. Is there a timeframe for the reward distribution? Will it stop after you get to a certain number of holders? Maybe 10000 holders on your roadmap?

Telegram Username: @zaatoshi

[Mason]
No! In fact, once we get to a higher holder count, rewards will be greater. We do not need to worry about the rewards pool draining itself either, due to the contract's setup.

[May]
Good to know!

It's time for the most popular segment of the AMA.

In this 4th segment, I will open the group for some seconds for the live community to shoot you some pressing questions.

Please pick four original questions to answer.

Try to ignore generic, vague, and copy-paste questions 😊

[Mason]
wonderful!

[May]
Ready?

[Mason]
yes

[May]
Okay!

Group unmuted in…

3

2

1

---Chat was then opened for the live community to send in their questions---

Segment 4 - Live Questions

[Ble73]
Many projects daily promise great utilities about their project and of course end up rug-pulling after their presale, and since STAR SHOT presale would be coming up in a few hours how can you guarantee us that this project will not throw the carpet? How safe will our investments be

[Mason]
The first promise is that all the devs are doxxed. The second is that the minute we can register, we will be a licensed LLC in the USA

[May]
Three more questions to go 🎉

[Jhon Wick]
Regulation is very important. Many projects are closed in many countries due to improper use of regulations and permits. To go global, how does your team address these issues?

[Mason]
We fully believe in regulation. especially being based in the USA, we need to stay true to the law to keep the project up and running smoothly

[Shito San]
One of the reasons you at Star Shot say we should join your project is because of the long-term potential it has. How do you ensure that yours is a project that will develop over time? What foundations are you currently laying to achieve that?

[Mason]
we have developed partnerships with two major BEP tokens already, one of which is an advertising token

[May]
One more question to go 🎉

[CloudJumper]
How are governing/critical roles distributed among the community and the developers?

[Mason]
between the developers, we have an open discussion between us three and try to come to a full consensus before making a decision. with the community, there are plans in the works for a governance token

[May]
Have time for one more? 🙂

[Mason]
of course!

[May]
Shoot! 😎

[James]
How can I claim my rewards, or do I need to manually claim my rewards?

When do you release new tokens and any partners yet?

[Mason]
You will not need to manually claim. We have partnered with two tokens already. one is admonkey, the other we are not at liberty to announce yet

[May]
Aaaannnndddd it's a wrap! 🎉

Thank you Mr. Mason for being our guest here today!

Starshot is an actual powerhouse and I can't wait to receive my rewards 🙂

[Mason]
Thank you for having me! Let me know what rewards you plan on choosing for your first one!

[May]
Maybe $CAKE 😁

[May]
To the other 14 amazing team members, we say thank you!

You've created something beautiful! 😊

It was great interviewing you!

Any closing remarks?

[Mason]
Just like to say thank you once more! appreciate you having me, can't wait to get started with the community

[May]
Thank you too!

Until next time, have a great day!