Hey guys and welcome to another Monday AMA with Polker. I know we have a few questions that have come through. There are a few things that do need to be explained from my side and I’ll do my best to do that today. I hope everyone’s had a good weekend. We’ll give it a few minutes for people to be joining. I will answer the questions that have come through on social media and any questions that you do have, just pop them in the comments and I’ll pick them up.
You can see we’ve got a few people here. So we’ll just begin with saying thank you for joining. We haven’t had a huge amount of questions come through, but we’ll just go through what has come so I’ll try and give the answers to the best of my knowledge.
The first questions that we’ve had are regarding the current situation regarding PKR as a token. They’re actually quite likely all of the questions today on Twitter Spaces. We are going to have to rename them X Spaces, I guess. So it’s going to take a bit of getting used to.
The first question that’s come through here is from JL. What happens if we sell the old tokens after the snapshot? Will we still get the airdrop?
The snapshot has been taken and distribution will be equal. Everyone who was holding the tokens at the time of the snapshot will be distributed the new token.
We have been working closely with Bitmart, with Bittrex, and with MEXC. There were a few discrepancies regarding some opinions on holding trading. They have all stopped withdrawals and deposits, and they have all agreed the trading is going to be frozen. (Update: now halted on all exchanges)
The liquidity — we have been able to remove from Uniswap and from Pancakeswap. However, user deposited liquidity is still there so there is nothing to stop you from selling. However, this is an ethical decision that is ON you. The recommendation is that you don’t. I highly recommend that you do not buy the token right now as we know it will not be valid for the airdrop and will not be part of the snapshot.
However, if you are selling this, that means someone is buying it from you. If they haven’t managed to see the news- and we are spreading it out as much as possible — then that’s on you as an ethical decision. Obviously we can ask everyone not to do that. However, there is no way we can enforce that.
So the recommendation is to not to. We have tried to limit every possible way that it can be done until the airdrop so just to avoid people buying something that they don’t realize will have no value once the new token is released. However, there are avenues, which we have no control over, as is the nature of decentralization. We’re doing our best to be heading that way. So our recommendation is that you don’t sell.
I got a few questions here from Crypto Lord. First one was what would happen to the old tokens.
Absolutely nothing. They are ERC20 standard tokens on Ethereum. They are BEP20 tokens on Binance Smart Chain. They will float around forever. That is the nature of the tokens. They will cease in value. There will be no liquidity. The exchanges will not be circulating those tokens but they will be there — they will just not be what they were. So the new token will be on a single chain. I can say that right now that most likely chain is going to be Polygon but still no guarantees. We are still looking into this, but that does seem to be the most logical choice that’s supported by all three centralized exchanges we are listed on. It’s also the same chain as the in-game NFTs so it seems to be the most likely choice and we are in talks with Polygon regarding that. The old tokens will just cease to have value but they will always be movable for people if they want.
Next question — With the new token, does tokenomics change or does it remain the same?
So there’s a couple of answers to this question. In some ways I can say it will remain the same. There will be the same number of tokens and there will be the same supply distributed. So if you had 100, you will receive 100.
We did obviously think about trying to change it or whether we could reduce supply or maximum supply. However, once we are listing on exchanges, a lot of those agreements were on terms that were very strict research on tokenomics. So obviously we cannot reduce (sic). So if the new token had new tokenomics, that would mean full due diligence reviews of everything on all the exchanges, which is extremely time-consuming. They would not be able to go through that at this time and it would be full listing fees and no guarantee at the end of the day that they would then be able to list it. So that is much I can say when it comes to distribution allocation that will be revised. I mean our focus right now is just making sure that you, as the people who were buying bigger, as the people who have faith in the project, that you get your tokens back and that we can have the tokens on exchanges live again. So that needs to be our focus and anything we can do that brings positive value to the token, So just right now, I can say supply will be the same. It will be a 1 to 1 swap. If you had 1000, you would receive 1000. When it comes to allocation of the remaining supply and things like that, it’s definitely something that we will be looking at and we will take your opinions on board as well. But we just need to make sure that we get to the point where the token is out, and the token is being traded again.
The next question is also from Crypto Lord. As an investor we are actually extremely worried about $PKR value dropping drastically. I think it’s time the PKR team should take some steps to increase the token price.
Couple of things here but the second point I completely disagree with. It’s literally not our job to increase the token price. If it is, this is the nature of freezing tokens, right? This is the free market. Enjoy the benefits. There are a lot of negatives about it too. And you know that is high risk, high volatility.
Does it suck sometimes? Yes. Is it great? Sometimes yes. But if you’re going to take the roller coaster, you got to enjoy the highs but you’re going to have to understand that there are lows, too. We are not here to increase the token price. Firstly, it’s illegal to pump the price. We do want it to go up — yes, it would be nice but pushing the price up is something that we cannot stand. That is not our purpose.
So,it comes to your first point. You said you were worried about the price value dropping drastically. It may appear to be dropping right now, but don’t forget, right now there is almost no liquidity. There are almost no exchanges. So the current price — wherever it’s being pulled from on both Coinmarketcap and Coingecko — is not necessarily reflective of the actual price. So the current market value is not reflective of the actual market value. So the liquidity that will be added will remain at minimum, minimum the price of the snapshot. It won’t be lower, but I can guarantee that there’s a possibility for it to be higher. But like I say, it won’t be lower. So current value, like I said, is not reflective of anything, to be honest. At the moment, consider the price basically frozen at the point of the snapshot.
And the last point here is can we have any big influencer backing the tokens from twitter or YouTube? I see big names from twitter like Cryptowizz, Cevo, or Kapo backing different gaming projects. For PKR, sadly I haven’t seen anyone. If we can get those influencers, it would be good for the project overall.
Right now is not the time for us to be bringing on events until we have the new token back and everything. In September, we are going live with the full listing on Epic Game Store. If you do search us on the Epic Games store right now, you will find Polker and you will see “the coming soon.” I don’t know if that’s been mentioned before. We’ve not been advertising yet but If you do go to the Epic Game Store and search it, everything in the page is ready. The tests are all being done. We are ready to move forward with that. We’re just waiting to have a couple more platforms. And the listing date is currently set at the 1st of September so that is exciting, right? But I think, until we get to that point and definitely not before we have the token back out and the exchanges back live and liquidity back on the decentralized exchanges, there would be zero logic in even taking time to talk to the influencers. Right now, I think I would rather focus on gaming. I know some of them do focus on crypto gaming, not just crypto. It is something that we have done a lot in the past and you know we will, we do aspire to do again in the future. But I’ve said before that some things are at the wrong time and that’s one of the things that I can definitely stand by. This is very much the wrong time. So let’s give it a bit of time for us to make sure that we have everything live. We are pushing the game out on the Epic Game Store and then let’s move forward from there. I think that it will be a very different story from that point on.
There are no questions coming through on Twitter and I can see there are quite a few of you guys that actually joined. I do understand that not everyone is native English, so we will have this AMA transcribed and popped on medium at the latest tomorrow for you. If you have any questions that do come up during the week, please feel free to ask. We have a lot of staff that are happy to answer your questions or if you want to answer next Monday’s AMA. We’ll be back here at the same, same time, same place on X. Have a great week and we’ll keep you updated with as much information as we can in real time on both Medium and social media. Take care and we’ll speak to you again next Monday.
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