We are pleased to announce our next AMA on March 17th 2021 at 11:30 AM UTC Time: Satoshi Club x XDEFI
⚠️Click to see the hour
⚠️Total Reward pool: 500$
⚠️Requirements:
👉 Join Satoshi Club Telegram group
👉 Join XDEFI 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$/10 users – Open chat for 120 seconds. You can post Max 3 questions. XDEFI Team will select 10 questions and answer them.
Part 3: 300$ – A quiz about XDEFI
For more details:
XDEFI – @xdefilab
Satoshi Club – @satoshi_club
Russian – @satoshi_club_ru
Spanish – @satoshi_club_spanish
Competition is very important for every project to be known. Can you tell us about x defi current on going competition? How to participate? The prize pool and no. Of winners?
What benefits do users get from being part of your ecosystem with multiple protocols? can the user change from protocol to protocol?
You recently submitted your protocol to Certik for audit and the audit report has been published. While perusing the report, I discovered that you were not initially given a clean bill of health as a total number of 12 vulnerabilities were identified by Certik with one of them allowing claim reward to be minted in an infinite loop. How have these issue been resolve? Have you refactored your contract base to accommodate the issue raised and have you been able to implement the suggested recommendations as appropriate? Will you be undergoing further checks and testing to ensure no stone is left unturned as it has to do with the security of your platform?
XDefiLabs will have a DEX (XDEX)
which is going to be a multi-asset DEX. Some new users cannot comfortably use binary pool DEXes such as Uniswap but you are going to be implementing a multi-asset DEX. How easy and convenient will XDEX be? Also, considering the fact that fees on binary DEXes on Ethereum such as uniswap is currently high and unstable, as a multi-asset DEX, your fees are expected to be higher than binary-asset DEXes. So, what solutions will you be providing to encourage user acceptance, reduce fees impact and provide a better trading experience?
Reading about your project on your website I saw that you will offer a feature called xPerp, but you don’t give too much information about it, so, my question is, could you please give us more information about it and what advantages will this bring to xDefi users? Also, I noticed it has a release soon button on its side, could you tell us when should we expect this xPerp to be release?
Beside as a Decentralized Exchanger, XDEFI also have main product a Hybrid Stable Coin, why did you give name “hybrid” ? Is it because not pegged to usdt? And what is the use that coin in XDEFI ecosystem ?
At the beginning of this month, you stated on your medium articles that XDefi passed two security audits, could you tell us more about this audits? Why did you decide to audit XDefi by not only one, but two companies? Did this two audits give you different results on some parts? Also, do you have any plans on getting XDefi audit by a third company?
On your twitter said xDeFi will doing bounty program and airdrop activities for community. Can you share how new user can be participate in your bounty and airdrop event? And also there is no info regarding the reward, what are we possible to get in your bounty and airdrop event?
While I was reading your whitepaper, I saw that you have a feature called xHalfLife, and you said that this feature is a Exponentially Decaying Money Stream Protocol. Could you tell us more about this and how will it work? Also, could you tell us where did the idea of calling it HalfLife come from? Because to me, the word Half is not very appealing specifically if we talk about funds.
Uptil this moment,xdefi still doesn’t have a smart contract address, what do you plan to deploy the smart contract?
Xdefi team has chosen an inflation rate of 19% after 4times of halving… what is the halving schedule/plan?
Can you shed more light on Xhalflife designed by XDEX?
Are you planing to have a third party audit once your contract is deployed?
How does the team plan to achieve and maintain liquidity efficiency for swap at all time?
There is an initiative you borrowed from Half life principle of radioactive elements which you called xHalfLife. You said xHalfLife is a better alternative to token vesting as it will offer effective and equity distribution of tokens which can be helpful in case of emergency which require emergency withdrawal. What model will xHalfLife be using to offer a slow at the same time fast method of unlocking equity which users can use to improve their lives? How are users funds categorised into delayed income and recorded income and for what purpose is this division?
The XdeFi project has a very technique whitepaper, son can you give us a non-tech review of what the xHalfLife protocol is and what’s the purpose of splitting the users’ rewards in two parts?
The xDeFi exosystem needs the participation of liquidity providers and stakers to function in a proper way, however it’s important to provide them with a safe and incentivized environment, how are these parties rewarded according to their contributions and how is it safe to invest?
On their website they say they will launch 100% of the XDEX tokens why did they get for not doing presales ? What’s wrong if some investors buy in advance the token ? Does this mean that all the other DEFI platforms that do their respective presales are unfair ?
The AMMs have found a niche in the DeFi space for their simplicity and ease of use, but can you tell us the formula of the protocol that xDefi uses? That is, Uniswap uses x · y = k, where x is the amount of one token in the liquidity pool, and y is the amount of the other. In this formula, k is a fixed constant. What is the protocol adapted to xDefi and why did you design it that way?
The AMMs are still in their infancy and are somewhat limited in their characteristics, in the future it is very certain that new AMMs projects will emerge and develop this new system. Do you think xDefi is capable of being a leader in the future with respect to AMMs? What makes you different from other similar projects?
The truth is that MMAs are a topic that many people have many doubts and questions about, but xDefi can really lead to lower fees, less slippage, and ultimately better liquidity for all DeFi users in a near future?
Currently building on Etheruem is crazy because of scalability issues and exorbitant rates due to the price of gas, why did XDEX choose to build on Etheruem and not Bsc which is the one on everyone’s lips at the moment? Does XDEX offer any innovative approach to combat the main problems of ETH ?
Earlier this month of March they released a test version of their protocols, and I am aware that they even set up rewards for those who discovered bugs, my question is, what kind of fatal or superficial bugs were discovered in this beta? Currently what bugs are the XDEX team fixing ? how was the first contact with this test version, did it meet your expectations?
In the xDefi whitepaper it shows different templates for different occasions, but I don’t fully understand one of them which is the following: 95%: 5% 95%: 5%. Basically this template is used for the “Low impermanent loss pool”. What does this refer to? What is achieved with this template? Can you give us a case where this template is used?
In your whitepaper you mention DAO’s several times, even your own team is made up if I’m not mistaken by a small group of volunteers from the community. So how important is the xDefi community to you? Has the community significantly helped the project in development and ideas? And how do you plan to make your community bigger and attract more people?
In your roadmap I saw that in 2021Q1 you will carry out a DAO’s voting for new : wETH: DAI: XDEXX: wETH: DAI: XDEX incentive pools. How can the community be able to vote and participate in the project? Which are the steps to follow?. Besides, in 2021Q2-Q3, you propose a “DAO mechanism”, what does this consist of?
In your Risk Disclosure section I am struck by the “oracle failures” part. It is understandable that there are internal oracle failures, but what tangible solution has xDEX proposed to avoid these failures as much as possible? Why have they chosen these AMM specific DEXs (Uniswap, BAL, Kyber Network) do they really offer reliable information?
Security is always one of the most important factors in any situation, especially when it comes to cryptos and DeFi. So my question is, why did you decide to audit your contract code twice? Your roadmap mentions “At least 3 round of code auditing”, so why a single report is not enough to guarantee security and transparency? Certik is a company that has done many audits of other crypto projects, but what about SlowMist? Can you explain a bit about the background of this company?
In the risk disclosure section, it is mentioned that only 5% of the initial liquidity is xDEX’s defenses against hacking events. What would happen if a hacking/funding lost is bigger than this 5%? In addition to this 5%, do you have another fund with which you can respond to possible hacks?
Could you briefly explain what xPerp and xOption consist of? What other products do you hope to develop at XDEFI in the near future?
XDEX seems like an interesting product. How does Defi stand out from the rest of the market?
How does XDEX DAO work and how can we be part of its governance? Are there requirements to meet in order to participate?
Upon entering their website they explain that the xDex, xFarm, xHalfLife and DAO protocols have been audited and published on the Ethereum mainnet. Why have you decided to edit these protocols? What improvements did they implement? What changes does publishing these edited protocols generate on the Ethereum network?
When entering the links of the xFarm releases, xHalfLife the page did not load me therefore it did not work, is this due to some maintenance within XDeFi or because there are restrictions for some countries?
How are they related and what are the benefits that Ethereum (ETH) brings to XDefi? Why have you decided to rely solely on this chain? Unlike other chains, does Ethereum really bring a notable benefit to the DeFi protocol stack?
According to information in Medium, xDeFi has passed an audit of smart contracts from SlowMist and Certik. Why did you decide to contact two companies and do you plan to conduct an audit or are these already final reports?
Commonly projects just take one audit, but you’re different, so can you explain why did you choose do 2 audits certik and SlowMist?
XDEFI is a very interesting project, specially with its “Hybrid Stablecoin” , it’s the fist time that I heard something like that, so can you explain us what makes your Stablecoin hybrid exactly?
I really that you are not focused in the typical spot trading, also thanks to your xPerpetual and xOptions you also have an impact in other types of trading, but there is a big one that is missing, so do you have plans to Integrate Margin trading too?
Most part of the xDefi Doc is it understandable to a layman, is there another way to learn about what xdefi is fully is?
xDefi contract was audited by Slowmist, and after that still audited by certik, what was the need for the second audit? Was it that the first audit was not reliable?
The certik audit report recommends that you should Consider adding community voting for this function. And declare usage in the white page, has the white paper be adjusted to accommodate this recommendation?
The slowmist audit report reads that the audit “doesn’t include front-end security and server security”, and we all know that security is one of the blockchain, so is this something to worry about?
Tell us about the economic model of the XDEX token. Distribution, blocking and, of course, inflation of 19%. Why is inflation so high and what measures are provided to reduce it?
You say that one of the XDEX features is the mathematical optimization of liquidity efficiency. At the same time, arguing that if Mktcap / TVL exceeds 1, then you need to sell project tokens for balancing. Does this mean that you will adhere to a similar strategy when launching XDEX? I know that you will have several automated pools and I would like you to comment on your vision of optimizing liquidity and how it will be implemented on XDEX
Your xFarm tool aims to have a fair launch and “antifragile”, can you explain to us what consists of this term? How is the community able to participate on this product?
XDefi smart contracts has passed two auditions, one by Certik and one by SlowMist, so it seems that everything is safe and bug-fixed, but what can you tell us about the security protocol of the platform itself? How is the whole infrastructure safe from scammers and hackers?
Since starting the project, did you achieve everything you planned or did you have to make drastic changes to your main idea at the start and what makes your project better than your competitors?
how is your current customer contribution?what will you do for them for their satisfaction?
I saw plenty of projects achieve more and more? So, what can I saw in your project?
Are there any risks in using xDeFi?
By creating a multi-asset DEX model composed of a hybrid stablecoin system which does not have permissions, as it seeks to be the first protocol to create scalable, trustless, stable and ideologically pure money on-chain apart as it manages to coin multiple contracts with options of limited style?
Roadmap is a plan with estimated completion dates that show what an organization wants to achieve in the long term. So as I can’t see any Roadmap on the website, can you share with us what are the milestones you’ve achieved now so far and what future plans you are looking forward to achieve?
I can’t see the list of your partners. So can you tell us what’s your plan about Strategic Partnerships? Also who are your current partners and where are you focusing right now?
Did xHalfLife create a protocol for DeFi agriculture, the granting of equipment and the granting of investor tokens, how does this protocol assimilate inflation in a short time so as not to fall into deflation and thus have stability and sustainability in such a short time, can you explain what is the formula that determines that this farming is really a success?
Currently xDefi works in the first test in Kovan testnet and now it works in the second test in Kovan testnet + reward for errors, as developers we can participate in the second Kovan test, because it decides to do a second test, in the first they found many errors since you are currently rewarding users who find bugs in this second test?
Researching on XDEFI, I can see that you have a very active community. What are your strategies for keeping your community interested and happy? Is there a plan to do another xDeFi Airdrop Invite Competition Event?
As I know the new crypto trend is NFTs. How do you integrate the NFTs in XDEFI? Is there a product in your project that uses NFTs?
If XDEFI uses an automated market maker (AMM). Does that mean there is no place in XDEFI for liquidity providers? What other ways can users make a profit on XDEFI?
Many projects diversify the usefulness of their tokens to make them as versatile as possible. Is there a reason why xDEX tokens are designed only to be consumed / utilized (maily in liquidity pool and minting)?
The xDex, xFarm, xHalfLife and DAO Protocols have been released on Ethereum mainnet.The xPerp and xOption Protocols will be release soon. So does xPerp and xOption also will be released in ethereum mainnet? Why do you choose to launch in ethereum network despite of the high gas fee that it charges to any transaction? Do you plan to transfer another chain in the future? Other question is why does your platform launched not just one but 4 protocols like the xDex,xFarm,xHalfLife and Dao Protocols? What is the significance that it brings to the whole XDefi ecosystem? Lastly, you will soon release two additional protocols, the xPerp and xOption so can you give us a little overview about it? Thank you!!!
Do you have educational program to help educate non-crypto users and create awareness as regards blockchain industry ?
Being an ambassador for a project is important in promoting the project, do you have any ambassador programmes, if yes how do I become one
Thousands of projects are been developed in the recent years and Crypto world is full of competitions presently ,
How does this project sort to outperform all these competitors ?
One of your Long-term topic is an xNFTEX in which NFT traded through AMM. So, can you tell us how does xNFTEX works? As NFT traded through AMM, what underlying risk we can expect from it? In other way, what advantage when NFT traded through AMM in XDefi platform?Thank you
I read that the protocol stack of xDeFi was launched on the Ethereum Kovan testnet and now already finish. Can you share the detail of xDeFi test in Kovan testnet, is it success with no bug? What are your plans after successfully carrying out this test, will there be further tests with more activity reward to user or xDeFi will launching immediately?
Your website indicates that xDEX Protocol accepts any standard and non-deflating ERC20. What is the reason that the platform cannot support deflationary tokens?
The name of xDeFi and all the future products that will build on its ecosystem starts with an “x” on their names. What does the “x” symbol stands for?
I read that you have so much feature in your platform that makes me confuse. Can you tell what are the different between xPerp, xSta, and xNFTex? What is the use for each of them?
Are you gonna continue the marketing programs of xDeFi or just AMAs for now while building your products? What product are near to completion and deployment?
I think this projeck is very good for me and other people, so i hope this project will be continue on the future….
The pool seems similar to that of balancer(although xdex looks upgraded from the traditional version) Why was this specific model used?