Magic Square x Storm Trade: AMA Recap

In a recent AMA session, Denis Vasin, the co-founder and lead developer of Storm Trade , discussed the innovative approach of their platform and the future of trading within the TON ecosystem.

Here are the key takeaways from the AMA session:

Storm Trade’s Mission & Vision

“Most trading products in TON focus on spot trading, whereas we offer derivatives trading with high leverage up to x50, deep integration with Telegram, and SocialFi functions like team tournaments and distributing NFTs for participating in trading activities. We see the viral potential of simple mechanics within the SocialFi space and plan to develop further in this area.” — Storm Trade’s Co-Founder — Denis Vasin

Unique Selling Points

• SocialFi Integration: Storm Trade emphasizes social interaction within trading, integrating closely with Telegram. This bridges the gap between trading ideas and execution, allowing users to act quickly on insights shared within their network.
• Community Building: The platform supports community features like team tournaments and rewards participation with NFTs, enhancing the trading experience through gamification.
• Self-Custody and Accessibility: At its core, Storm Trade values accessibility, freedom, and empowerment, advocating for users to have full control over their assets and simplifying access to Web3 technologies.

Current and Future Developments

• Token Generation Event (TGE): The team is focused on the upcoming TGE, which is crucial for maximizing the token’s utility within the platform.
• Technical Enhancements: Efforts are underway to improve trade execution speed and implement the Storm DEN (Decentralized Execution Network).
• Expansion of Features: Post-TGE, the focus will shift towards integrating more SocialFi mechanics, introducing copy trading pools, and expanding the range of tradable assets, including Forex and commodities.
• New Markets and Trading Options: The platform will soon support spot trading with various order types and introduce synthetic stock trading.

Philosophy and Values

“Storm Trade’s philosophy centers on creating a financial ecosystem that empowers users globally. They aim to democratize access to financial markets through self-custody, simplified Web3 access, trading freedom, education via Storm Academy, and enhanced SocialFi mechanics”.

Q&A Session Highlights

Q1: What is the token lockout period for Zealy members and RP point holders?

A1: Zealy members and RP point holders will have a vesting schedule for their RP tokens. This schedule will be similar to the vesting periods for participants in the public and whitelist sales.

Q2: Are there any additional features planned for NFT holders post-launch?

A2: Yes, after the launch, NFT holders will receive fee discounts and other additional benefits.

Q3: How will the distribution of Zealy rewards be managed?

A3: Magic Square will provide detailed information on how Zealy rewards will be distributed.

Q4: How will the community token allocation be handled post-TGE?

A4: Rather than conducting a single airdrop, there will be various incentive programs implemented after the Token Generation Event (TGE).

Q5: What steps are being taken to increase the speed of deal execution?

A5: The team is developing a layer 1.5 execution network aimed at enhancing trade execution speed while still maintaining blockchain settlement.

Q6: What is the use case of the $STORM token?

A6: The $STORM token will function as a revenue share and liquidity pool buffer. For more detailed information, please refer to this link.

On a final note

Storm Trade is poised to revolutionize trading within the TON ecosystem by combining financial activities with social interactions, simplifying Web3 access, and promoting financial sovereignty. Be sure to follow Storm Trade on all their social channels and stay up to date!

• Twitter
• Telegram
• Mirror.xyz
• Website

About Magic Square

Magic Square is a discovery and engagement platform that connects users to the Web3, crypto and blockchain ecosystem.

The Magic Store, our Web3 app store, features community-vetted apps and games, along with the latest news and updates, rewards and promotions from each app.

As users engage with the apps and games in the Magic Store, they are rewarded with Karma Points, which grant them a share of the daily 10,000 $SQR token pool. (to participate in the daily reward pool, you must have a Magic Membership).

In addition to providing users with a fun and engaging platform to explore the world of Web3, Magic Square also helps app developers scale their user base and grow their projects more efficiently 👉 https://magic.store/hot-offers

Magic Square has the backing of industry leaders such as Binance Labs, Republic, Crypto.com, DAO Maker, Huobi, Gate.io, GSR, Emurgo Ventures among others.

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