We are pleased to announce our next AMA on February 25th 2021 at 02:00 PM UTC Time: Satoshi Club x Polkadex
⚠️Click to see the hour
⚠️Total Reward pool: $600
⚠️Requirements:
👉 Join Satoshi Club Telegram group
👉 Join Polkadex Telegram group
We will have the following structure:
Part 1: 100$ /6 users – We’ll select 6 questions from the community. A user can post maximum 3 questions. 6 Questions will be selected from our website – please submit your questions in the comments section of this post.
Part 2: 100$/10 users – Open chat for 120 seconds. You can post Max 3 questions. Polkadex Team will select 10 questions and answer them.
Part 3: 400$ – A quiz about Polkadex
For more details:
Polkadex – @Polkadex
Satoshi Club – @satoshi_club
Russian – @satoshi_club_ru
Spanish – @satoshi_club_spanish
High gas fees on the Ethereum network do not allow participation in DEFI. Is Polkadex planning to integrate with other blockchains that have an edge over the Ethereum network to give the user more options?
What are your plans for getting adopted fast enough so that the market won’t be saturated with other similar projects now and what benefits can you offer?
Trading bots use RPC Market Data provided by full nodes, whether traders are able to use their special trading algorithms and exclusive trading techniques.
POLKADEX introduces FSP (Fluid Switch Protocol) that will showcase how multiple AMMs interact with the orderbook. So can you tell us more details about FSP & how it works? Also aside from solving Liquidity Problems, what else does Amm Pools intended to solve?
Price oracles are the head of the DEX component. Which oracles will use the Polkadex to get accurate data? Will there be a protection system against receiving inaccurate data?
Polkadex is a hybrid DEX with AMM. Will you have an orderbook and liquidity pool? Will the trader be able to switch between the order book and the liquidity pool?
Polkadex supports the feeless transactions. Can you explain why did you decide to design it that way? Are there other benefits of feeless transactions apart from, obviously, not having to pay fees?
The current testnet transaction throughput of 300 TPS. You plan to improve this speed to 20,000 transactions per second. What developments do you want to achieve this and in how long?
It is very rare to see a project with a roadmap already scheduled for a year in advance. It ends with you in the 3rd quarter of 2022. Will you make adjustments as needed and post updates? Or have you already thought out and developed all the actions?
Considering that Polkadex is a substrate based DEX, it will support assets of other Chain like Ethereum, BSC or TRON?
Polkadex apart of provide services of a DEX , also offers services like staking or farming ?
One the intrinsic problems of all AMM is that only can provide spot trading and ignore leverage’s ones, so will Polkadex add more types of trading like margin, futures or options?
Polkadex doesn’t collect network fees, instead you identifiy attacks and charge network fees only for those attack transactions, how is this model sustentable for your ecosystem, what are the basic mechanics? Does it work to increase security?
What is the main point of using a Snowfork to create a bridge between Ethereum and Polkadex infrastructure? How does this Snowforks work and is this a permanent solution for the custody of funds in Polkadex?
Polkadex’s current testnet transaction throughput is 300 TPS, but you specify that this speed will be improved to 20,000 TPS using Pebble, a consensus algorithm code. Can you tell us the basics of how this upgraded concensus will work? When can we expect this consensus to be implemented on your platform?
I read that Polkadex supports the idea of some aspects on-chain, like Orderbooks or Bridge mechanism between Polkadot and Ethereum, but also others off-chain, like technical analysis indicators. Can you tell us the purpose of this method? What advantages does provide this on/off-chain system for the project and its users?
It is mentioned that there are two ways of bringing liquidity on Polkadex: Polkadot Parachain and Snowfork. Can you explain further what are each one and their main utility on Polkadex? Do the users benefit directly from both Polkadot Parachain and Snowfork?
Considering that Polkadex use WEB3 technology, that means that will be able to use directly from personal wallets with browsers like Metamask and Trustwallet?
In your website you do mention about a feature called “Pebble Consensus”, so can you explain us what is this and what is its role about?
You said that Feeless Transaction is one of the important constructs for Polkadex
Q:
Can you explain to me, the important role (Feeless Transaction) for Polkadex & are there any benefits for users to smooth their trading without any problems ..?
What are KYC credentials for? Why does Polkadex use the KILT Protocol ?
My question is about SAFT based Token PreSale. And more specifically about its results. What can you acquaint us with? And what can we know about when the Public ICO will be held?
I have a question about your new industry.
Q:
What is Polkadex’s industrial FSP (Fluid Switch Protocol) & explain how you can be sure that DEX Hybrid can pave the way for nearly unlimited liquidity and high trade guarantees if it is supported by an efficient trading engine ..?
Thank You
Your Roadmap for 2021 says a Testnet was launched at the end of 2020. Does it go well? And what are his intermediate results? Not faced with scaling issues?
Q:
Are there other Polkadex features besides being only used as DEX trading, is it staking, mining or lending..?
Since some of the current DEX industry, many have implemented this feature to increase their appeal.
Polkadex contribute two ways to conduct liquidity,.But the problem of larger DeFi projects that launched is liquidity that causes price shortage..Extreme shortage generally signify a market is lack of liquidity..In what way can Polkadex respond or resolve the liquidity problem utilizing the Polkadot Parachain and Snowfork Trustless Ethereum Bridge?
Since the advent of Uniswap everyone is thinking that, AMM pools are the end of the world for DEXs, but traders don’t have control over the trade prices in a AMM pool. So how can you prove to the community that Polkadex is an orderbook based DEX ?And in what way can you provide more liquidity and also the presentation/production of a centralized exchange
Polkadex mission is “to build the perfect decentralized exchange” interoperability and higher quality security terms are very important to entry into that category, how is Polkadex taking care of this subjects?
Incentivized API endpoints for both trading bot companies and liquidity providers are one of the main attractions of their features, how is the current market influencing these on-chain trading bots and how is all this data captured for optimize the performance of the trading function?
According to your website Polkadex’s mission is to build “the perfect decentralized exchange”. Please explain to us what are the flaws that you believe affect the current DEX and how Polkadex seeks to finally solve them. What features must a DEX have to be perfect? Does Polkadex achieve this?
Polkadex with the intention of solving the liquidity problem that affects all Dex implements the Fluid Switch Protocol an order book supported by a group of AMM’s. How do you achieve compatibility of these two systems?
The problems of DEX are not only limited to the lack of liquidity, many are difficult to understand and use. How does Polkadex solve this UX/UI problem?
Polkadex enables HFT through trading bots for retail and institutional investors. Tell us a little bit about this feature and the commission-free trading. Do you really manage to do this? Is it easy to use and implement?
POLKADEX is a fully decentralized, peer-peer, orderbook based cryptocurrency exchange for the Defi ecosystem in Substrate. What really is your Mission & Vision? Also how will Polkadex solves the problem of front running using a combination of feeless transactions and an intelligent application of machine learning?
Is this true that the presence of slippage is a huge inconvenience and can sometimes carry significant risks for DEXs? If so, what is POLKADEX solutions to these kinds of issues and how would you solve one of the longstanding problems faced by DEXes in the past?
How does Polkadex achieve zero (0) cancellation fees? How do Polkadex bots help maintain this cancellation fee? Could you really save me from the high gas fees that common decentralized exchanges have within Polkadex?
You ensure on your website “Do not touch customer funds or the keys of their smart contract.” If they cannot do it, would it not affect a little security of the users? How do you guarantee that users within Polkadex are completely safe and free from malicious persons? Do users have to pass their KYC within the platform?
What are the advantages that Polkadex offers as a decentralized cryptocurrency exchange based on an “order book”? Would one of the benefits be guaranteed operations? How do you guarantee operations?
I’ve read on the website about this FSP and in the medium POLKADEX introduces FSP (Fluid Switch Protocol) that will showcase how multiple AMMs interact with the orderbook. So can you tell us more the details about FSP and how it works? Also aside from solving Liquidity Problems, what else does Amm Pools intended to solve?
If the Polkadot chain is the one that allows multiple chains to be interconnected, being the bridge between them, then what functionality does “Snowfork” have? Does it make your job easier or more effective? Could you explain us in more detail?
You mention that “Polkadex is designed for the future”, but really why? Why is there a lot to explore of the potential of the Polkadot chain? or why? And for how long could it be ready?
You mention your “current 300 TPS testnet transaction throughput”, but can you really get it up to 20000TPS just by using R&D on the internal consensus algorithm code called Pebble? is it so effective and fast?
One of the benefits that characterize them is that they achieve “updates without forks”, but what does that really mean? What are its benefits? And is that really only achieved with this protocol and no other?
Many new protocols only seek to be one more fork of Uniswap, even knowing of the multiple problems that characterize it, but if PolkaDex really seeks to create your perfect Dex exchange, you will only have to solve the problems of Uniswap and that’s it? or do you need even more improvements?
Currently, in the Polkadot chain, multiple projects are being created that are revolutionizing and taking DeFi to another level, but even this is far behind ETH, do you think that in the near future, Dot can surpass ETH?
I read on your Medium blog that you recently partnered with KILT Protocol and Fractal to provide a decentralized KCT, but is this really necessary to control security on your exchanges? Could you give us your details and differences with traditional KYC?
Normally in DeFi we use the exchanges of the ETH chains, that is to say of the Web 2, so, what changes will there be to the Polkadot implementing the Web 3 in the DeFi exchanges?
Polkadex says that it operates at the same level as a centralized exchange even giving it a high percentage return in the same way, but polkadex says it has the ability to offer additional benefits and better tools for the development and support of a trader offering security, support and great potential of decentralized tools to operate at an optimal level, what are those additional benefits they offer to unlock those financial markets that attack the market for the benefit of the trader who does not offer a centralized exchange?
Can you explain more about the On-Chain Trading Bots of Polkadex? How does this bots being used and utilized in your platform? How reliable and trusted the works of this bot? What pros and cons we can expect when using On-Chain Trading Bot? Is there any probable risk when using this bot? Thank you
The Polkadex mission is to build the perfect decentralized exchange.” Well, this mission seems to be a great mission. But first ,how will you describe a perfect decentralized exchange? What maybe the factors that can make an exchange to be a perfect decentralization? With this mission of yours , what steps you are taken to make it realize? Do you have any time frame in achieving this mission of Polkadex? Thank you
As far as I know, you have organized many AMAs before with lots of rewards for the community. Through AMA, what do you get from the community?
Will the share of transactions made with traditional loans issued by central banks decline successively due to the development of crypto-collateralized loans? What are the consequences of this process in a country with large and growing public debt?
Most of investor just focus on the price of token in short term instead of real value of project. Can you tell us the motivation and benefits for investors to long term?
What are the latest changes in high-level strategy in product design and development?
There are already many Projects which works on scalability for Dapps with Both Layer-1 and Layer-2 solution! So, How Your project proroades an optimal solution than others?
What are your plans for the next 6 or 12 months? What is the target this year? And next 3- 4 years?
Most of investor just focus on the price of token in short term instead of real value of project. Can you tell us the motivation and benefits for investors to long term?
I think owning a domain will only be beneficial for projects that runs a wallet. What exactly can an average joe like me get out of from owning a domain?
A lot of blockchain projects are on paper only and no product or product has no practical meaning. Please tell us which products are currently focused on? What is your plan for the mass adoption product?
Polkadex will deploy an intelligent application of basic AI and machine learning algorithm to quickly identify if someone is trying to abuse the network. Can you tell us what AI you will apply? Is it a new kind or it was tried and tested by other platforms. How fast and accurate this machine learning algorithm that will ensure the security and reliability of Polkadex?
Polkadex announced a partnership to create a decentralised KYC system for exchange customers. Polkadex and Fractal will use the KILT Protocol as the underlying infrastructure for managing the KYC credentials required by Polkadex. Does this mean that Polkadex customers needs to pass KYC with the help of Fractal and KILT? One of you mission is to build the perfect decentralized exchange, with KYC?
Polkadex want to be the first DEX to provide on chain market making that solves the problem of
liquidity and providing a spread as low as 0.1%, so what effort that PolkaDex project already
do to reach this achievement?
Polkadex team disabled the testnet token bot. How will new users participate and try the platform, especially now that promotions like this Satoshi AMA will likely attract new users to try it? Will you activate the bot again? Or we just have to wait for the mainnet to launch?
After read from your site, Polkadex Project have special features in your platform that other DEX dont have.
Could you please explain all feature that Polkadex will brings to users ?
i learn that Polkadex project is fully 100% Decentralized, so can you please explain
how is the governance work for the user who hold your token ? is there any voting or
what token holder possible to do in Polkadex ecosystem ?
as i know every DEX will use Price Oracles to gather the precise data.
So what Oracles that Polkadex project use for now?
How did Polkadex system manage if there any not accurate data?
I see that you are 7th wave’s WEB3 Foundation Open Grant’s Program recipient. Tell us more how’s your applications going? How important it is for your project? Which benefits will PolkaDex recieve from it?
I’m a fan of using bots in trading. Tell us about the unique architecture allow dynamic entry and exit based on the market situation.
What is this algorithm? You developed it based on historical price movement data.
Will it be possible to use custom settings based on the MACD, MA, RSI, etc.
Will there be a usage fee?
Will there be copy-trading?
Polkadex collaborates with KILT Protocol and Fractal to Provide Decentralised KYC Solution. Does it mean KYC on DEX? Or which goals did you aim to achieve with this partnerships?