AMA Recap 404 Daily Crypto with SpaceShark

Hello 404 Daily Crypto Community

On the 22nd of April 2021, at 12:00 PM UTC (19:00 WIB), we just successfully hosted our 22nd AMA with SpaceShark, with our guest from SpaceShark team:

  • Matias, SpaceShark Team

Many of you might have participated or many of not, So here we are up with the AMA transcript for those who missed the AMA session.

Introduction Questions Asked By 404 Daily Crypto Team

Before proceeding to segment 1, please introduce yourself to our chat?

I’m Matias and I’m 25 years old based in Denmark
I’ve been enthusiastic about computers and technology since I was 4 years old.
I’ve been programming for 15 years.
I’ve researched blockchain for 10 years.

My game development studios website:
https://munkstudios.net/

My 2D Isometric ORPG I’m working on:
https://arcanelands.net/

My Binance Smart Chain token:
https://spacesharks.co/

Q1. Can you briefly describe what is SpaceShark project? We would like to know more about it and how it works?

Space Sharks is is a deflationary token used for the future NFT Marketplace where people can upload digital assets for a certain price in Space Sharks. People who may be interested in art can buy any NFT’s they find awesome.

Q2. How was the idea to create this project born? It is very interesting. What do you want to achieve? What are your expectations?

As the founders of this project, we have been investing in crypto for a long time — and we’ve seen so many rug pulls. The idea for us to create a token, came when one of the team members said he had been programming for many years (me) and actually had been programming a cryptocurrency exchange prototype for a little over a year and had been working on an NFT Marketplace for almost 2 weeks. We figured we could use that for a legitimate token, and we decided to make a token where people could feel safely invested.

Q3. Can you give an overview of SPACESHARK Token tokenomics?
Will the design of the token rise and fall with the success of the platform, does it include any scarce paths, such as equity, storage, or burning?

There is a 7% tax implemented in the tokenomics, of which 2% are given back to holders and 5% is added to the liquidity pool.
These tokenomics ensure that the token is somewhat deflationary, without redistributing too much to holders — since it IS a utility token that will be used on the NFT Marketplace Platform.

Q4. Could you please provide some progress on your Roadmap and what results from SPACESHARK has achieved so far ? And any sneak peek into 2021 plans for SPACESHARK?

So far, we’ve achieved rolling out the token, doxxed ourselves, established a strong ass, sorry for the language, community, had a verified audit, gotten Trust Wallet logo earlier than any tokens out there, rolled out promotions and paid marketing.
With that said, there is still a lot more in the works, which can specifically be seen on our Telegram. I think it would suffice to say that the platform should launch anywhere between 4–6 weeks, and we will see the token growing into the final stages after that.

Q5. What is the plan SPACESHARK to ensure sufficient liquidity on exchanges to fill market orders, especially as adoption increases and clients begin multiplying year-over-year?

The plan to ensure that enough SPACESHARKS tokens are in liquidity at all times is as I’ve mentioned the 5% that is added back to liquidity on each transaction. When our NFT Marketplace Platform rolls out, the trades of NFT Assets should be enough to add a continuous flow back to liquidity.
If for some reason the liquidity needs more tokens one day, we do have a wallet that we can add to liquidity from. A minimum of 100 Trillion tokens will be kept in this wallet, for that very reason.

Questions asked on Twitter for SpaceShark team

Q1 From Twitter username @LuckyCat_980

Typically, investors buy tokens that are likely to increase in price in the future. I saw that the total supply of the token is huge.
So, do you have any plan for burning tokens in the future to reduce the supply of the token and increase its investment attractiveness?

Yes, we plan to burn some 30% more tokens to increase the scarcity of the token.

Q2 From Twitter username @MrJamal92

A lot of people will want to know what the strength of Your Project is but I want to know the weaknesses and problems your Project faces? How do you plan to solve it?

The strength of our project is that we have an amazing team working hard every day to make this a success.
If we have any weaknesses it would be that until we launch and burn the number of tokens we want to burn, it is a fair market for people to manipulate the price.

Q3 From Twitter username @DogleTiyo

What is your main difference that differentiates your project from other projects and what competitive advantage does your project have?

The main difference that gives our project advantage is that we have been working on a crypto exchange prototype for 1+ years, and the NFT Marketplace has been in the workings already 2 weeks before token launch.

Q4 From Twitter username @wanfi27

1-Increasing Token price
2-make Token Valuable
3-Building Community Trust

From 3 aspects above, I want to ask, Which one the most important for you??
If all above are important for you, Which one that Will you do first??

Building community trust is the most important thing to us, but as I feel we’ve already done that our main priority is to give the token value with our platform.
It begins with community. Building a strong community has been priority #1 since launch. The ultimate endgame is to bring forward something that the users can interact with at all levels and genres, and that’s not even mentioning the news charity donations on the way.

Q5 From Twitter username @QuinnJosephine4

Too many projects promising bright hopes for the future. but never released a product that worked or proved any revenue, can you tell us, What makes the SpaceSharks different from other projects?

The repetitive question, but will be answered anyways.
We’ve already been working on the NFT Marketplace Platform before the token launch. Furthermore, our developer has been working on a crypto exchange prototype for over a year, which will be continued after the NFT Marketplace launch.

Extra Question selected from Twitter by Guest itself

I am a professional vulnerability finder on the web, do you think Your system is secure enough from hackers? Does your project have a program that rewards individual vulnerability detection of the system?

I think this is the best question of all the questions asked thus far since we have not given any information on that yet.

I’m a computer programmer for 15 years, and I have also done blackhat & whitehat exploiting, so I am pretty confident that our platform will be secure.
However, if you do find any vulnerabilities, you are welcome to send an email to bugbounty@spacesharks.co and receive a bounty reward for vulnerabilities that you find.
Once the NFT Platform is released, there will be a page dedicated to rewards for specific vulnerabilities.
Rewards are paid in whichever currency or crypto you prefer.

Questions asked by our 404 Daily Crypto community members during live Session to SpaceShark team

Q1 From Telegram username @covid19vv

What is your plans for global expansion, on building and developing or getting customers and users, or partnerships?

Great question.
We are planning to do heavy marketing on the world wide web, and with our teams, many years of experience in marketing Search Engine Optimization and Google Ads is really one of the heavy players for global expansion — along with the merch items we have on the way.
Furthermore, we have partnerships with several communities in different countries already (Sweden, Philippines, Japan, Russia) so that growth into different native origins is no problem.

Q2 From Telegram username @isankisa

What are some of the major achievements that Your Project has achieved and what milestones are planned ahead in the next 6 months, 1 year, and 5 years?

In long term, we want to achieve is an established platform in the NFT community and as a future crypto exchange, we also want to achieve having traders on our platforms.

Q3 From Telegram username @hidaryesr

Everyone knows if you want to go fast, go alone, but if you want to go far, you go with your partners, so with Your Project which partners will promote and help Your Project reach and achieve the project’s goals?

Partnerships are in the works.
We will partner up with multiple artists before the NFT Marketplace Platform launch so that the platform will be heavily deployed with art on the launch day.
Furthermore, we already have a partnership with a major CEX Exchange. I cannot disclose which for now, but it will be disclosed in our official Telegram in a few hours!

Q4 From Telegram username @thyndanha

What are the benefits of holding your token as a long-term investment? Can you tell us about the motivation and benefits for investors to keep your token in the long run?

Long-term holding is benefiting able due to the fact that NFT’s are getting huge. Holding your $SPACESHARKS may allow you to buy valuable NFT collectibles that you can sell in the future.

Q5 From Telegram username @Blackmomba6

Token burn is important for investors, do you have any plan burn or buyback?

Yes, buybacks will happen of some of the profits made from NFT Marketplace cuts + merch.

Closing words from our guest to 404 Daily Crypto Community

I would like to say that any artist can join the platform to sell for Space Sharks token.

If anyone had the question, I didn’t see it but it is a great one.
Buybacks of the $SPACESHARKS token will happen of some of the profits made from NFT Marketplace cuts + merch.

Finally, I would like to say, to you @drzy16 thank you for having me and hosting this AMA.
This should have answered most if not all IMPORTANT questions to anyone here who has been thinking about investing in Space Sharks but has had questions they wanted to be answered before proceeding to invest.

Like wise!
Our team is all fully doxxed by the way. I saw a few people having the question concerning scam and rugpull.
We could never do that without getting into legal trouble.

Also, the liquidity is locked, so it’s technically not possible.

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404 Daily Crypto is a Community of Cryptocurrency enthusiasts. We provide interesting information and news about cryptocurrencies.

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404 Daily Crypto

404 Daily Crypto

404 Daily Crypto is a Community of Cryptocurrency enthusiasts. We provide interesting information and news about cryptocurrencies.

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