PokerFi Ask Me Anything Review — Denis Znamenskiy (Co-Founder of Starlab)

Topic: PokerFi DAO governance will come online soon, ushering in a win-win era of community autonomy

Host: Good day everyone. Welcome to our first Ask Me Anything in a while. Our guest today is Co-founder of Starlab, Mr. Denis Znamenskiy.

About Starlab: Starlab is a Singapore-based blockchain-based NFT lab focused on metasexes and GameFi product research and development. Its members are distributed all over the world.

Guest: Hi everyone! I am Co-founder of Starlab, Denis Znamenskiy! Glad to be here!

About PokerFi: PokerFi is the world’s first green digital currency based on the metaverse . It aims to create a new starting point of the blockchain’s digital economic system and develop a more prosperous format of blockchain development. This year marks the first year of “Decentralisation of Everything,” and PokerFi’s decentralised mining mechanism is an early prediction of the trend. In the future, starting from the metaverse and combining Defi with NFT, PokerFi will further explore the structure of the metaverse.

Q 1: Could you give a brief introduction to PokerFi?

A: PokerFi is the world’s first green to translate the bitcoin ecological model into the metauniverse BTC. To use “NFT + DeFi” to establish a metaverse world. Every player can buy a place in the PokerFi metaverse, assemble, place, and recharge their NFT card mining machines, and obtain PK token mining rewards. You can freely trade NFT card mining machines and card slot mines. Fair participation in a whole new bitcoin ecosystem.

PokerFi is based on the DPoW ( Delegated Proof of Work) consensus mechanism, which empowers the community players from the beginning. Players can subscribe to card slots in a fair and open manner on the blockchain through the card slot auction rules to build their own mining farms on the blockchain.And to transfer the cards.

In the real physical world, Bitcoin’s economic model is limited by space, space, energy consumption, and force resistance factors.

However, PokerFi, based on smart contracts and algorithms to guarantee the trust mechanism at the bottom, uses card slots as mines, NFT poker cards as mining machines, and card slot’s energy fees as electricity charges in an innovative way. And through the card slot auction, NFT poker card blind box purchase and other operating mechanisms, we have created a more open, free, fair and decentralized blockchain economic system. This new starting point, on the one hand, reduces the threshold of players to participate in the production of more decentralized, in line with the spirit of blockchain; yet, on the other hand, all PokerFi actions can be checked on-chain, and smart contracts can be automatically executed to ensure that the trust mechanism of the whole ecosystem is secure and credible. Therefore, the PokerFi ecosystem will be a more prosperous green bitcoin ecosystem than current standards.

Q 2: If the current industry encountered “black swan” event, how would PokerFi succeed?

A: The global spread of COVID-19 has put the economies of all countries in recession-like states. In order to improve this situation, major economies have launched several rounds of extraordinary economic rescue policies, but they have also brought corresponding inflationary pressure, therefore, the value of crypto assets has soared.

In the US, demand for virtual currencies has been driven by fears that the US will face another “fiscal cliff.”.Some Asian countries have issued a series of regulatory documents, showing signs of short-term gloom. But in the long run, all this is good news. It is more clear that decentralization is the future. Decentralization has become the new trend, and the cryptocurrency industry has entered the era of decentralization of everything, such as decentralized convenient mining, decentralized transactions, and decentralized contracts.

There is no doubt about the growth of the entire industry. The “black swan” of the industry has created the era of “Decentralization of Everything” in the cryptocurrency space. This year is the first year of decentralization. The trend of decentralization accelerates the growth of the whole industry and brings more opportunities.

The arrival of the “black Swan” once again confirms that we have made the right choice, which is crucial. With PokerFi bright spots, which the decentralized PK uses to calculate power decentralization, anyone can participate in our low-barrier ecosystem, However, Bitcoin computing power is concentrated in the hands of large miners, which has become a monopoly phenomenon.

The threshold of participation there is high, and it is not easy to turn into cash. Decentralized PokerFi community governance, PKS tokenization governance, and the application of blockchain consensus mechanism and economic rules to build distributed management, truly realize the fair participation of everyone in project governance, voting, and income distribution, regardless of founders, executive team, advocates, promoters, or followers, and eliminates the drawbacks of centralization.

Q 3: At present, the concept of metaverse is on fire, GameFi projects are coming out frequently, is the foothold of PokerFi’s core competitiveness?

A: In terms of the game industry, it’s been growing for the last two decades or so. The global gaming industry as a whole is expected to reach $175.8 billion by 2021, with about 3 billion gamers. From the perspective of chain games, since July 2021, the data demonstrates that this sub-field has grown rapidly.

The number of players has increased from 80,000 in early April to 928,000 in September, and the daily transaction volume has increased from $500,000 in early April to about $40 million on average, with the highest daily transaction volume exceeding $93 million. The market volume is still not saturated.

Compared with other GameFi platforms in the market, PokerFi’s core competitiveness lies in low threshold, stable income, and community autonomy.

No need to spend hundreds of thousands of dollars in early investment, instead with only a few hundred, you can have your own NFT mining machine, you can participate in the game, obtain the PK token mining reward, and greatly reduce the investment cost and risk.

The PK closed-loop economic model and the token attributes of extreme deflation of our PK token, enable users not only to obtain a return of the coin price, but also to improve mining income through the combination of NFT cards drawn in blind boxes according to the rules (pair, three cards, straight cards, etc.), and through the resale of NFT cards in the market.The core of PokerFi’s community autonomy is motivation and democratic voting, so that each PokerFi community is like a living body and grows by itself. PKS brings trust to the community, like glue to bond each other, and creates a new high-dimensional + fractal DAO value network.

Q 4: PokerFi has been around for three months. Could you please give a brief disclosure of your progress during these three months?

A: I’m sure a lot of users are concerned about this.

In fact, all of that information of the last three months can be seen publicly! This is also what we are proud of when we say “decentralization.” It can be said that there is a good measure for users to participate in a so-called decentralization project.

We have no project partners here, only a group of like-minded people who want to make decentralization work well, which is why we have achieved the current stage results.

The results are there for everyone to see, but I have to give you a statistic:

After the mine pool went online, by October 23, the output of PK tokens was 334,800, and the pledge lock was 320,560, with the pledge rate as high as 95.75%.

This means that PokerFi users have reached a consensus in the current situation of industry shock, and in the future, with the launch of the PKS governance model, there will be stronger consensus building and value increase.

Q 5: You mentioned the PKS governance model repeatedly. Can you briefly describe the PokerFi community governance model? Why is this the new future of community consensus?

A: The ultimate goal of most P2E is to achieve DAO governance, enabling communities (player guilds) to participate in project governance, voting and revenue distribution.

The launch of the PokerFi DAO community will usher in an era of community autonomy and mutual benefit.

The PokerFi DAO community governance token is PKS, which is expected to be launched in early November. The process of its governance contract is to execute the voting contract by initiating events, participating in voting, and effectively voting and passing events on the chain.
The results are visible to all and are open and transparent. With the help of the time lock control contract, when the vote is passed, the chain contract will be executed on the passed event according to the event lock control contract.

Anyone with PKS can join the PokerFi DAO community and participate in the governance of the community.

This means that governance rights will be shared by all PokerFi Natives and PokerFi Natives will be promoted from players to voters. In the future, PKS will be listed on exchanges, and the value attribute will be added again to realize the dual empowerment of equity and circulation. The governance iteration is reflected in three aspects.

With the increase of circulation, the community votes to decide how to open the decentralized governance model with the organization form of mining pool, mine, labor union, and community.

The first is a more open, democratic with co-governance, reflecting autonomy. The PKS governance model will evolve into a hybrid combination of off-chain and on-chain models. What PKS governance creates is a better foundation for community governance. PKS will become the first influential governance token with value + equity in the future, which will create a new community consensus framework. So ,PokerFi belongs to all of us.

Q 6: Looking forward to PKS coming out soon. As you said, decentralization will be a new trend, and PokerFi planet, as a pioneer of decentralization exploration, has completed the first phase of exploration with the decentralized reduction and optimization of mining as the starting point. Can you talk a little bit about what’s next for decentralization?

A: At present, incomplete statistics show that there are more than 2,0000 active users participating in NFT platform transaction wallet every day in the world, and the number of participants is increasing and the market activity is gradually increasing as well.

PokerFi is similar to the combination of Game-NFT and IP-NFT, and aims to restore Bitcoin’s ecosystem through DeFi+NFT to create a fair, open, low threshold, and simple structure; the goal is to create at least 10,0000 + basic users in the early V1 version.

The V2 version will open up more scenarios and social features, and finally give players more rights by allowing them to participate and drive more innovative gameplay through the first “unlimited contract.”

In addition, PokerFi once again “breaks the circle” of blockchain assets by means of gamification mining, so that ordinary users can participate in the NFT market more widely and more easily.

Moreover, PokerFi has given its interests to the community and players from the very beginning. In the process of jointly building a bigger and stronger PokerFi ecosystem, it is also laying out and building an exchange with a broad player base and active NFT, and the future interests of NFT’s exchange are also deeply tied to the interests of community contributors.

With PKS as the starting point, the world’s largest DAO organization will be built. The autonomous incentive community constructed by PKS pays attention to everyone involved in the whole group, including founders, executive team, advocates, promoters, and followers, who are all community members working together to achieve our goal. In such a group structure, each individual has his own division of labor in the community, which spontaneously maintains the whole community. The community is like a whole, gathering the thinking of each individual to truly realize the beautiful vision of decentralized common governance.

As the only decentralized project in the DeFi mining industry with a solid platform, PokerFi is worth everyone’s participation. I’ll share it here today, and if you want to know more, you can go to the official PokerFi Telegram group.

Live Session

Q 1: On the PK token allocation combined with the recent market performance, how to avoid private placement and large “whale” behavior?

A: First of all, based on data analysis, we can see that in the current private equity address, the shares received by institutions have been sold at a low level, while those that have not been sold have been invested in the construction of mining pools. It is judged that institutions will no longer have an impact on the value of PK.

The founding team holds PK, which is expected to be locked up for a long time, and will not be sold without a certain degree of ecological prosperity
In terms of price performance, it is the effect of checks and balances of multiple mechanisms:
First point: At present, PK currency has been online in Pancake Swap, a decentralized exchange. According to the current development plan of PokerFi, PK currency will also be registered in other CEX and DEX at home and abroad soon.

The steady rise of the price of PK coin, on the one hand, benefits from the strong consensus under our economic model, on the other hand, it also benefits from the token trading mechanism established by PK coin. When users sell PK coin on the exchange, the following trading mechanism will be implemented in the token contract:
1. When the user sells PK coins, 10% of the sold PK coins will be deducted from the wallet balance;
2. The 10% PK coins deducted shall be allocated as follows: ①30% shall be destroyed; ②30%: automatically sell half of BNB, create PK/BNB transaction with the remaining PK to provide adequate liquidity support; ③ 40% is automatically allocated according to the proportion of users buying during this period.
Second: the launch of PKS will be the engine of PK deflation. Users get more benefits and participate in a series of actions linking PK destruction; and.
Third, the PKS combined destruction mechanism is already in planning.

Q 2: It seems you guys are doing very less marketing. Do you have a plan to market in the west?

A: That’s already in the works

Q 3: According to the plan, when will the combination A, 1,2,3,4,5 be introduced?

A: Normally, it will be available by the end of this month. It is also expected to include event initiation and voting decisions.

Q 4: Can you give more information about the layout and approach of new resources on PokerFi planet, and the cooperation intention of the game industry?

A: Recently, some resources are willing to cooperate with PokerFi, mainly in the form of game associations to empower PokerFi community and traffic. Of course, we also welcome more global communities to participate in the construction of PokerFi, and we will provide corresponding token-based governance advice and technical help to these communities.

Q 5: I think you have so much potential, and I look forward to all the things you have for us. That being said, are there any projects you think you can cooperate with in the future?

A: At present, we will promote the cooperation of some metaverse c infrastructure, such as AI, AR and VR.

Q 6: Every product has its core audience and demographics, does PokerFi target one range of demographics, or different demographics with every product it releases?

A: We are open to all users who are interested in blockchain.

Q 7: Do you think Metaverse concept will surely workout? I heard It’s a failure concept from few of my friends. please share your opinion.

A: It takes quite a long time to achieve it, I think 20 years.

On that note I declare the AMA closed and thank Denis for his incredible insights and time. As for you the community thank you much more for your participation.

Looking forward to our next meeting.