Q&A session with SSLX | Transcript
What did it all start? How did the idea of creating a crypto social network Sl8 come about, and why is it called the StarSlax token? 💎
The social network itself started with the idea of a new way to subscribe and get only certain info from those you subscribe to. We called it a shadow following. If someone isn’t interested in what I write about politics, this person can unsubscribe from that layer of info, thus my posts on that topic will never appear in their news feed.
StarSlax was initially issued on Stellar DLT, so the star theme for the token name was obvious. That’s where the Star part came from. Slax comes from the wordplay Sl8 + Dollar in Ukrainian (бакс or bucks) = StarSlax.
Sl8 (Slate) is a social crypto platform, but is it a local Ukrainian project or a global one? And what’s the most ambitious goal of the platform? What is the ultimate vision of your brainchild?
We are an early-stage Ukrainian startup, registered in Delaware, USA. At the moment, the team is located in Kyiv, Ukraine, and, for sure, it is easier to develop and test features interacting with local audiences, talking the same language. But we are positioning ourselves as a global project. As soon as we raise a seed round, and scale up development and marketing teams, we will be able to move to international markets.
Our goals are to perform real crypto mass adoption worldwide when each person on the planet has a crypto wallet. Build a new world financial system, sustainable, borderless, extremely liquid, vacuum-transparent, decentralized, lightning fast, with equitable access and zero transaction cost, based on the common good and common sense, where the main values are trust and credibility. Where every community, business, and person are investors and startups at the same time, able to issue their own crypto tokens, raise money, and invest in others.
How do you compare different blockchains? What do you see as an advantage with Stellar?
There are many blockchains already developed, but not all of them are suitable for our goals and vision. Stellar DLT is the best fit for us, mostly because:
- it is US based non-profit and open-source project;
- it is fast and inexpensive, so we can send millions of transactions at almost no expense. Also, it is a distributed and sustainable system.
Can you share the achievements the team has made so far? What is the major aim SSLX is yet to reach?
Long answer, because we have a lot of achievements! I love to talk about them.
Q1 2020 — Q2 2020
- first Sl8 presentation for influencers and investors;
- 3 268 people are on the waitlist;
- $32 718 raised from investors;
- сompany registered, core team assembly.
Q3 2020 — Q4 2020
- 4 615 people are on the waitlist;
- $63 732 raised from investors;
- Sl8 apps beta developed and tested.
Q1 2021 — Q2 2021
- 5 340 users in Sl8;
- $100 249 raised from investors;
- Sl8 apps are live in App Store, and Google Play;
- SSLX token issued — сrypto-like, crypto wallet, crypto exchange features.
Q3 2021 — Q4 2021
- 18 377 users in Sl8;
- $286 760 raised from investors;
- first SSLX public sale rounds (token statistics);
- crypto staking, crypto donates features;
- payment system high load tests;
- second Sl8 presentation for influencers and investors;
Q1 2022 — Q2 2022 (including six months of Russo-Ukrainian war)
- about 30 000 users in Sl8;
- $245 347 raised from investors;
- Sl8 web version is live;
- Sl8 users made 115k+ posts, Sl8 platform made 20m+ operations, 1 007 users have 4 595 SSLX stakings;
- SSLX token holding 27th place among 128 500 tokens at Stellar DLT chart;
- The first case of Token-as-a-Service (TaaS) feature: UAFCoin charity project;
- crypto withdraw, P2P (peer-to-peer) transfers features.
- $87 156 raised from investors to the moment;
- listing at WhiteBIT;
- upcoming company equity round in Dubai;
- upcoming SSLX Dubai Sale, to sell 91m SSLX, with a $0.0065691 price.
Many people want to learn about the StarSlax project, but they have a problem with the Ukrainian language, so do you plan to spread awareness about your project in other countries? Do you have a marketing strategy aimed at developing different communities?
For sure. After listing on WhiteBIT, we already have hundreds of inquiries from different countries, influencers, and common users. At the moment, we have English-speaking and Chinese-speaking communities in Telegram and plan to have more international activity after the seed round is raised. There is a lot of work ahead!
Economic model is a very important thing for a sustainable development project. So, what is the economic model of Sl8? Does Sl8 have a balance between generating profits for the project and benefiting users for sustainable and long-term development?
Sl8 core monetization feature (TaaS) would be developed in Q3 — Q4 2022. We already have a line of companies who want to issue their own crypto token on the Sl8 platform, having access to a fast, inexpensive and transparent crypto ecosystem with built-in UAH CBDC, which is also currently developing at Stellar DLT. Sl8 would provide this feature at no upfront cost, but hold 10% of the emission of all tokens issued on Sl8, to maintain liquidity pools, and manage system stability and sustainability.
Also, we have 10% of all content monetization on Sl8, leaving 90% to content creators. Later, there would also be premium subscriptions, giving access to a lot of interesting and useful features. A Core benefit for Sl8 users is the ability to buy SSLX at sale rounds, usually at a much less price than at the market, with good interest for staking. SSLX Dubai Sale is going to start on the 29th of August, by the way.
What are the risk management policies that the project uses to safeguard the investments, granted by its platform? How do you really ensure that there is a backup base to rely on in any situation or sudden change in the commercial markets?
SSLX is an asset, backed by the Cassator Corp (Sl8 owner and developer) company capitalization. Right now, we are buying back SSLX for $0.0062407 on Stellar DEX. If the company market cap becomes higher than the SSLX market cap, we would buy SSLX back with a new price accordingly. Most users buy SSLX not only because they believe in us, our goals, and our vision, but because they clearly see our progress in past periods.
What is your strongest advantage that you think will make your team and project blossom, especially during this bearish market phase?
We have a lot of them, but the strongest one, especially during this bearish market phase and the Russian invasion, is our token holders which continue to support us, hold tokens, and even buy more.
Tell us about your ecosystem. What besides the token is included in your ecosystem, and what are you working on now? Will there be any platform releases soon?
Do you remember Facebook Libra? We are successfully developing a social network with a built-in crypto wallet, payments, exchanges, transfers, content monetization, staking, and much more. It is already working. Try on App Store and Google Play. My invite: JAeNkPme3d. Meanwhile, Libra is dead, as I predicted from their early beginning, years ago. Fresh Sl8 release will be live in a few days. P.S.: yes, we are at a very early stage, but, from the other side, it is a good time to get on board buying a bunch of SSLX.
How do you see your project in three years? How will you encourage new people to join it, and is it necessary to do it at all? Is it better for the product to be so high-quality and ready that users come to it themselves?
One of our goals is to make a product people will love to use and recommend to friends, benefiting as well from the referral system, content monetization, and SSLX price skyrocketing. The more funds we raise, the faster we move with development and marketing. Our team is extremely efficient and fast, so in three years you can expect:
- an ecosystem where money moves with no losses, instantly and transparently;
- millions of users happy to use the Sl8 social crypto platform;
- thousands of tokens issued on Sl8 by businesses, influencers, and even common persons;
- $200 per SSLX price in four years (I know how it sounds but we’re going to do everything possible and impossible to reach this target as well).