Starbank Finance — AMA Summary 5/4/2022

7 min readMay 7, 2022

Text AMA on
Ethan (drumfeet) together with Kaz, the founder of Starbank, responded to all of the community’s questions.

Question from @chutich1235
Starbank is behind compared to AstarSwap or Starlay. Two projects were very successful when achieving impressive TVL. What outstanding advantages do you have to achieve their achievements?

They are different protocols. In the case of Starbank, it’s a Balancer V2 fork. It allows users to invest similar to an index fund, and supports stableswaps. Similar to them, Starbank will incentivize some pools with the $SBX token after the launch.

Question from Sunnie26321
Have you signed up for the Astar Incubation Program? Have you been selected by them?

No. I asked them to select Astar Incubation Program, but no resources for now. The resources doesn’t mean funds / money, they mean human resources.

Question from Veronica
Do you guys plan to reduce the supply of $SBX in the future?

You mean “total supply”? If we do burns, the total supply will reduce. If that’s what you mean, then yes.

Question from Atascadero Rodriquez
What makes our project different from other projects in the Astar ecosystem? How much $SBX supply is there? Does $SBX have a burning mechanism?

Protocol fees (swap fee) will be used for a buyback & burn after governance. Depends on the voting though, but the answer is yes.
Starbank allows users to invest like an index fund. Rebalance aumatically by arbitrager (users who want to swap). Ordinally, Uniswap V2 supports only 50:50 pools. In the case of Starbank, we allow any token combinations, up to 8. Its also good to reduce impermanent loss risks.
It works like an index fund. Meaning, it’s good for long term investors. Plus, some pools are incentivized by our governance token, $SBX.

Question from FomoHeTamLinh
I went to and took a look. There are still a lot of parts that I think are unfinished. Will you update for next time?

Yes, it’ll be updated soon. But the contracts (except for $SBX/farm contracts) are in the works.

Question from FomoHeTamLinh
The cryptocurrency market has been in a bear market recently and in this case, it is difficult for investors to trust and invest in any project. How do you see these challenges and why should we invest in your project?

It works like an index fund, it’s good for long term investment. Not like Uniswap LP, we have less impermanent loss risks. I believe one of the best places to HODL, even though we are in a crypto winter.

Question from Nguyen Dat
What are the risks of staking on this platform?

Of course, similar to Uniswap V2 staking / farm, Starbank also has impermanent risk. However, the risk is less than other Uniswap V2 / farms. Our pools allow users to invest 50:50 pools, but also 80:20, 25:25:25:25, up to 8 tokens. It means there is less impermanent risks.

Question from Nguyen Dat
Is Starbank really decentralized?

I believe there is no true decentralized platform yet. Even Uniswap, if their devs changed their minds or they stopped maintenence, then it may fail. But I believe, personally, we should aim to do decentralized.

Question from Henry
Can you list 1–3 killer features of this project that makes it ahead of its competitors? What is the competitive advantage your project has that you feel the most confident about?

It supports not only weighted pool (like index funds), but it also supports stable pools (the logic is the same to curve). Meta stable pools support users to invest in interest-bearing tokens. Liquidity bootstrapping pools help other protocols. We can support and help a lot of investors and protocols.

Question from JLaudybell JYLO
Is your Starbank project only for big investors, how about others with small funds? Is it open to everyone? What are your hopes for Starbank in the future and now?

I wanted to launch asap, but needed to coordinate something in terms of ecosystem. It’s not only for big investors, but we are going to prepare a whitelist for OG, etc. I would like to add more WL for small investors too, which institutional investors cannot join.

Questions from Henry
Can I earn a passive income from your project? Are there any staking options available for this? What are the benefits of holding tokens in the long run?

Protocol fees will be used for a buyback & burn of our token, partially. The ratio will be determined by governance. So, the token holders can be incentivized indirectly. Of course, there will be staking options as well. Not only $xSBX, but also $veSBX

Question from Da Vid
Many projects, they draw a beautiful future for investors but can not catch the roadmap. They gradually leave the project. Will Starbank ensure that the team is reliable and dedicated to the project?

As long as we make a good community & tokenomics, I believe it’s possible Starbank to do very well. Starbank is based on Balancer V2 and can make protocol fees when swapping. For that reason, I think its possible for us to develop healthy tokenomics.

Question from Huy Can
Currently, is there any whitelist program for community of Starbank? Many low-budget investors want to invest but they are not able to stake token in launchpads with their small budget

Now talking to GaiaStarter side. Basically, they are accepting our own whitelist. This is besides their whitelist. In other words, both whitelists are working together. So please join our Discord and check the criteria from time to time. One of the criteria is the OG role. Personally, we will give more whitelist to our community.

Question from Huy Can
As we know, currently, there are many kinds of DEX projects in the crypto market. How can Starbank compete with them? And what makes Starbank different from these existing projects?

There are a lot of Uniswap V2 forks, I know. Balancer V2 forks are rare. Its because Uniswap V2 is super simple, but it has impermanent risks. On the other hand, staking and customizing with Balancer V2 is quite difficult, but we can do it. What sets us apart from other projects is that Starbank allows users to invest in things like an index fund.

Question from David Oley
I am a potential investor. How can early investors like me, take advantage of Starbank? Is there any privileges?

You should consider whitelist. Now talking to GaiaStarter about adding our own whitelist to their platform. We will list our criteria in our Discord.

Question from Pitty Thoat
Investors are extra skittish these days. They are also quick to leave projects after a short time. How are you working to demonstrate value to encourage users to invest for the long haul / in what ways are you making TVL more sticky?

I believe we should prepare more educational material. Users need to understand impermanent risks as well. I personally what them to understand what risks they are taking?

Question from Vohaiphuong
If the market drops sharply and a new trend appears, can you change what you are doing to stay ahead of the trend to help your project grow? Or will you keep the same view and plan?

We should follow such trends, but DEX/AMM is one of the cores of DeFi. Starbank can collaborate with them, and we can try to find such trends by ourselves.

Question from FomoHeTamLinh
I see only three LPs (USDT, DAI, USDC). Are there any other stablecoins?

Yes, we can create more pools, up to 8 token combinations.

Question from Absurd
Now, the token launch process is easy. But, to develop the ecosystem, stabilize prices, and expand the market, is a challenge for every project. What are your teams first step towards solving this problem? What is your plan to maintain token price & supply in the market?

I believe the protocol fee is key for every project. Starbank can earn protocol fees as people swap. This basic tokenomics idea is important.

Question from Absurd
When is $SBX listing?

Token sale on GaiaStarter, I believe in mid May. Then, we will list it on Starbank. It depends on Gaiastarter’s preparation as well. The date might be updated.

Question from FomoHeTamLinh
How many methods can I obtain $SBX?

Token sales such as the whitelist round, private round, or the public round. All of which will be on GaiaStarter. Starbank can provide a whitelist on our end. In other words, we may hold on token sale on our end. When it comes to token price, the sales will be around $0.05.

Question from Cevdet SUNAY
How many team members do you have? Do they have enough experience in the blockchain field? Do they have any experience on working in crypto and non-crypto projects?

We include several people that work part time. In terms of me, Kaz, I support projects such as: Libra, LibraX, and some as a hackathon speaker, etc.

Question from J.Nippon
Do you have an audit certificate? An audit certificate is important for any project. Secondly, do you have a whitepaper?

Balancer V2 is audited by several audit companies. We only edited one line and it was audited by EtherAuthority. Our audit page hasn’t been updated yet, but will be soon.

Question from DEA ANGELA 404
Can you explain how your tokenomics handle distribution? How many tokens will be minted? How many tokens will be locked by the team?

Our document is a good reference. For our distribution, we are vesting for 24 months with daily emissions.