We have collected all the basic questions and answers in one place so that everyone can read it in a convenient format at any time.
Pavel (CEO STEM): Good afternoon, STEM community.
I will be happy to answer your questions and discuss with you various topics regarding the work of our STEM project and the new form of STEM DAO management.
User A.: Hello. When are you planning to add trading leverage for team tokens?
Pavel (CEO STEM): > The addition of margin trading is in the development plans. There is already a solution at the level of documentation and description of functions, because it was a difficult task to create margin trading for tokens in synthetic value and elastic issue.
It depends solely on the financial capabilities that we will have for the 4th quarter of 2023, because the implementation of such functions requires a large number of work hours. If we can expand the development team, it will appear during the 4th quarter of 2023 or the beginning of the 1st quarter of 2024.
Plans for the nearest works can be seen in the DAO section. https://exchange.stemx.pro/dao/manage/dobavlenie-marzinal-noj-torgovli
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User A.: When is it planned to add not individual teams to the exchange, but the entire championships?
Pavel (CEO STEM): > Different teams from different leagues have already started to be added to the exchange. Almost all teams from the English Premier League have already been added. Other commands will also follow.
Or do you mean something else?
User A.: > I just wanted to know, will only individual teams be added further, or is it planned to add the championships as a whole?
Pavel (CEO STEM): > Yes, we will strive to add all the teams from each league, which we are already actively doing. By the end of the month we plan to add about 20 more and new football clubs
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User S.: What do you think about adding esports? And tournaments, for example, Counter Strike and League of Legends?
Pavel (CEO STEM): > This is a very promising direction that is just emerging in betting. But there is not much fundamental data for a transparent and accurate evaluation of sports team tokens.
First of all, we want to occupy the market of traditional sports, where the audience has been formed for decades and numbers hundreds of millions of people.
This is also in the DAO section, where we talk about plans to extend STEM to other sports.
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User A.: Is there a deadline for adding new sports?
Pavel (CEO STEM): > Right now there are no exact release dates for new sports because there is a priority in favor of other development plans, including margin trading.
We started development with football, and we want to fully occupy this market by adding more than 200 football clubs, after which we will start working on other sports.
This will require creating completely different evaluation rules for sports teams in other disciplines and connecting databases with their statistics to the exchange.
Again, the current timing of the implementation of functions depends on how much money we will have for further development.
If we close the goals of selling 25% of the project’s share, then we will be able to multiply the development team, which will allow us to introduce new things to the STEM exchange much faster.
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User A.: Are you planning to enter the exchanges, like binance , baybit, kraken , oks?
Pavel (CEO STEM): > Of course we want to do this. But it requires the appropriate documents (due to the subject of our project) as well as a huge budget. Sometimes we are talking about hundreds of thousands of dollars. Therefore, we will add STEMX to major exchanges when it becomes available to us.
User A.: > That is, your team will strive for this and this is one of your main goals?
Pavel (CEO STEM): > Our main goal is to attract hundreds of thousands of users to the STEM exchange. Creating a new industry for sports and attracting a huge number of users to the exchange will affect everything within the ecosystem, including the STEMX token. Our goal has always been the development of the exchange, because only this determines success for everything else. STEMX was conceived as an important element of the STEM ecosystem, where STEMX will be widely and actively used in our products. This means that only the growth of the user base will give him a healthy and long-term growth in demand.
After all, any cryptocurrency is doomed to death without active use.
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User A.: How is the work on attracting large investments progressing? That is, not just to offer to buy hamsters a share of the project, but to those who are willing to spend much more money: funds, etc. If there were such investments, then it would definitely be possible to develop faster
Pavel (CEO STEM): > I don’t think that creating a STEM DAO is an offer to sell a share of the project, as you said, to hamsters.
Again referring to the subject of our project, the legal component of the project always becomes a big barrier. We are the first in the world to create tokens with synthetic value for teams and evaluate them based on open data. And now there are no legal legal norms that can somehow describe our activities, which makes it difficult to work in such transactions.
Therefore, we went the way of collective ownership through the creation of a STEM DAO, and we will try to communicate with investors by offering such a solution. Definitely, the availability of capital will help us develop ten times faster.
User A.: The project has been developing for more than two years, as far as I know. I think during this time you have tried to find third-party large investments, but so far the result has not been achieved. Do you have the opportunity to name some of the names of funds or investors that have been considered? And the reasons why they were forced to refuse to invest in the project
Pavel (CEO STEM): > I will say even that I will not be able to remember exactly the names with whom we talked about investments. There are definitely no ones among them that can be heard by the crypto community. And once again I will return to the question of why this is so. The theme of the project: sports, and indirectly similar to gambling. Not all investors are interested in this, because the subject matter at first glance is very specific, which did not even allow starting a dialogue with many of them.
I can also honestly admit that we have never built a project like classic “crypto startups”. We do not know how to collect rounds of crypto investments in his classic view, when a team of such “starpapers” has only one goal — to get money in any way from crypto funds. This is a very narrow specialization that needs to be studied. We came from a classical business, and we first of all know how to create products and develop them according to the classical model. Therefore, now that the product is ready and it is fully operational, we will make more efforts to finance its rapid development.
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User P.: Pavel hello, when are you planning to release a mobile version of the exchange?
Pavel (CEO STEM): > We have a web application for android. https://play.google.com/store/apps/details?id=pro.stemx.exchange.twa
But in addition, our mobile version is fully equipped with the functions of the application and is convenient for use in iOS browsers.
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User A.: It seems to me, or did you once say that you were planning to develop your own blockchain, is that so? If so, how is the work on this going?
Pavel (CEO STEM): > Yes, but these are still distant plans, the priority of this is taking a back seat compared to the current improvements of the STEM product. First of all, we want to turn STEM into a multifunctional exchange that will gather hundreds of thousands of sports fans. In the future, it will be logical to transfer the work of STEMX to your blockchain, but this is a matter of separate development of the blockchain infrastructure, which implies a separate development project, which requires additional financial and labor costs.
Perhaps we will come to this in 2024.
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User A.: Why are you developing your YouTube channel very poorly? You could produce some training videos and so on. Also do some news videos, following the results of the tour, etc. Additional users who love football could come.
Pavel (CEO STEM): > Yes, you correctly noticed, we want to start doing this in the near future. We didn’t develop it at all and didn’t release any videos there except test promotional videos. We plan to form a team that will be engaged in production, create news videos about sports for the STEM Sports News section and other training videos.
High-quality video content creation also requires financial resources. Creating a video, maintaining a production team, funds for advertising and channel development, and here, too, is not without difficulties. Our trial advertising videos that we created are also blocked by google when trying to launch advertising companies, because Google believes that our subject matter relates to gambling. It is very difficult to argue with moderation on this score, because it is easier for them to refuse and not take risks than to understand this issue. Therefore, it will be more expensive to advertise such content than usual.
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User M.: In the 3rd and 4th quarters, there are plans for Partner mergers with other products in the field of betting and bidding, what does this mean?
Pavel (CEO STEM): > We are open to partnership with other products that work in the field of sports. We periodically communicate with such teams and look at the possible advantages of integrations for each other as well as the risks. I can’t name any projects right now, but merging with some other projects may give us organic user growth for the STEM exchange.
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User A.: As the CEO of the project, can you tell what number of users the exchange has now? It’s not necessary to say exactly. Are these tens, hundreds, thousands of people?
Pavel (CEO STEM): > We have created a STEM DAO, and if you study it, you can understand that this is a community of owners who manage the project and full statistics of the financial flows of the project will be available to them. But there will also be information publicly available for other users, where everyone can view and find out the current indicators.
You can do this on the page:
https://exchange.stemx.pro/dao/statistic
To put it even, the product has incredibly few users, very few people know about the product yet, so a significant increase in the advertising budget will allow us to attract more users, there are very large potentials for growth.
User A.: > What does an active user mean? Does he do something on the stock exchange every day, or a couple of times a week? (there is a total number of users in the DAO data, and there are also purely active users)
Pavel (CEO STEM): > The number of users who have been active in the last 30 days.
Now users register on the exchange every day, they have an interest in the product, but so far they are only getting acquainted with it, studying it. I have repeatedly talked about this and I will say that the specifics of our product’s work are different from everything that is currently on the market. Users need time to learn all this and become more active.
User A.: > The amount of Stemx deposits and so on? While the dash is standing, then the value will appear?
Pavel (CEO STEM): > Yes. The statistics section will eventually have more information and infographics with the performance of the exchange.
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User A.: If it’s not secret information,
what budget does the team have at the moment?
Pavel (CEO STEM): > This is already a matter of internal finances, and no project will openly discuss such topics. Sorry.
I can only say that the budgets are modest at the moment. But we have been developing in such conditions all this time, we approach the issue of expenses very carefully, because the most important thing is the effectiveness of financial investments.
But we understand that we need to accelerate a lot further, that’s why it was decided to sell 25% of the project.
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User A.: Does the project have a github page?
Pavel (CEO STEM): > The team uses gitlab. But we have never worked openly regarding development issues. Our exchange consists of 100% of its own components. The mechanics of the operation of statistics tokens, its pricing and the formation of the issue are based solely on our developments, which is a trade secret at the moment.
If we were developing something whose analogues would already be on the market, we would not adhere to such closeness in this matter. But for the DAO, we will selectively open more data if necessary.
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User A.: Are you planning to do something like an ambassador program?
Pavel (CEO STEM): > Of course. And this is also a budget issue. Working with opinion leaders is very effective. But often these are contracts for tens and hundreds of thousands of dollars, too. But this is what we will invest in primarily to advertise the STEM exchange.
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User A.: Does the team have any clear goals and objectives set before the end of this year, which you can now voice?
Pavel (CEO STEM): > The first minimum goal is to get the first 10,000 users of the exchange.
The rest again depends will depend on the money (speed) which we will be able to direct to the implementation of the planned development tasks that are published in the DAO https://exchange.stemx.pro/dao/manage
But of course, for the remaining 3 months until the end of the year, I see 25,000 users as a good goal.
According to the tasks, we plan to add more than 150 football clubs, carry out a number of internal work on the merchant, and also increase the exchange’s throughput in working with a large number of team tokens. Add some interactive elements to the exchange in the form of notifications, which will allow you to show important events / promotions during user authorization. And implement a referral program. This is something that will be in the works in the near future.
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User M.: Pavel, how are you going to attract users to buy a DAO token. Now they bought it for ~ 1800$ and don’t buy it anymore, what’s next?
Pavel (CEO STEM): > We have no task to attract “users”. Buying a STEM DAO is not just buying a token. This is the purchase of a share of the project. I.e., by buying a share, a person becomes a co — owner of the project. I don’t want to see random people there who don’t understand why they are in the DAO and what it is. Our idea is to gather people and investors there who believe in what STEM is and manage it on a par with the rest.
And we didn’t expect it to be a simple and fast process.
Now the market is in decline. Many are afraid to invest in anything, but we have the time and desire to develop the project, so we will look for those who will be as interested in it as we are.
I and other team members communicate and will communicate on the topic of investments at the current stage of the project through STEM DAO and only time will tell what we will get. But I believe that we should succeed. There have always been difficulties, these years have not been easy, so this does not stop us.
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Pavel (CEO STEM):
I was glad to answer your questions and discuss them with you!
Thank you for your activity and interest in what we have been doing these years.
We are doing something that no one else in the world has done before us. This is a difficult but very interesting path that opens up incredible prospects for us.
My favorite quote is “The road arises under the steps of the walking.”, I have always adhered to this thought, and we will continue our journey further.
