We are pleased to announce our next AMA on April 1st 2021 at 02:00 PM UTC Time: Satoshi Club x MonoX
⚠️Click to see the hour
⚠️Total Reward pool: $500
⚠️Requirements:
👉 Join Satoshi Club Telegram group
👉 Join MonoX Telegram group
We will have the following structure:
Part 1: 100$ /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$/10 users – Open chat for 120 seconds. You can post Max 3 questions. MonoX Team will select 10 questions and answer them.
Part 3: 300$ – A quiz about MonoX
For more details:
MonoX – @MonoXOfficial
Satoshi Club – @satoshi_club
Russian – @satoshi_club_ru
Spanish – @satoshi_club_spanish
how do I get the reward and how to withdraw it to the wallet?
You recently rebranded from Monoswap to MonoX. The variable “X” is a very popular letter in mathematics which is often used to represent unknown and most times, when asked to solve some expressions, we must be able to find the value of “x”. So, what does the “X” in the new name stands for and what necessitated this rebranding? How will this affect the products of your protocol and how does removing Swap from the new name affect the AMM swap features of your protocol which was boldly captured in the previous name?
You are going to have a new stablecoin which you have called vUSD and I have read that it is going to be an algorithmic stablecoin which will always maintain a peg of 1:1 USD due to vUSD being backed by “virtual liquidity pool”. How do you mean virtual pool and how do these pools stabilise vUSD? In what way is the Smart Contracts used to track these pools and how will it be monitored to ensure an infinite supply of vUSD while at the same time stabilising its pricing calculation without slippage? Will this virtual-pool backed stablecoins be tradeable?
One of the features of MonoX protocol is Trustless Listing Pools which will give any user the capacity to create and list token as well create liquidity pool. We are already aware of several fake versions of real tokens created on Uniswap and other DEXes by malicious actors. How does MonoX Trustless listing safeguard users as well as prevent the propensity to rug or list scam tokens at ease? What in built functionalities will be used by your protocol to protect users interest and allow them to be able to identify scam from genuine products?
What got me interested, Apart from single liquidity, MonoX also offers 100% capital savings on new project launch tokens.
What are the requirements for launching tokens on MonoX?
How do you avoid if there is a scam project that wants to launch tokens on MonoX?
MonoX aims to simplify DeFi to a “more capital efficient” protocol with a single token liquidity pools instead of using pool pairs, but there’s this thing about the risk inherent in this type of transaction such as impermanent loss, this system offers some advantage against this risk related to liquidity?
You have a two-tiered pool system that according to your docs makes it harder for rug pulls and scam token listing to operate, can you tell us how does it work and what is the minimal capital needed in order to lauch a token? Is this capital locked somehow or how it stops the rug pulls?
When an LP adds liquidity to the pool for Token A, the price remains the same. Now my question is, when one removes the pool liquidity for Token A, does the token price stay the same? How does the impermanent loss work?
I understand that they are not listed on any exchange portal yet and that they will offer retroactive token distribution via airdrop to reward early beta users. Am I still in time to participate among these first users?
Each $ MONO token will be the equivalent of 1 vote for each proposal there is also a minimum amount of $ MONO required to participate in a vote. What percentage of votes must be received for a proposal to be approved? How long is the pre and post voting period?
When an LP adds liquidity to the pool for Token A, the price remains the same. The amount of token A increases in the pool and therefore the pool of liquidity pool increases. What percentage of commission do providers receive? As a provider of liquidity, if the price of Token A appreciates in value relative to the price at which it supplied liquidity, will we lose part of the value of my Token A?
The AMM pricing algorithm works similarly to Uniswap, however vUSD has an infinite supply, causing the price to always stay at $ 1 (USD). Why is the exchange method more optimized? Will absolutely all transactions be traded under vUSD? What is the MonoX exchange fee? Who is in charge of setting the initial price of the token?
The price is initially set by the first liquidity provider / pool creator. vUSD is represented as a balance within the group. The balance starts at 0, however, it can increase or decrease depending on the trading activity of Token A (buy or sell). Under what concept does the negotiation process work? Are there pairs outside of the ERC-1155 pools / vUSD contract?
I read about pinned MonoX introduction at twitter with four points. One of the points is low trade fees by avoiding lengthy transaction path. Can you please tell us how much efficient the low trade is? And please provide quick sample of that low trade fees.
Mention some reasons why users should trust their own vUSD stablecoin and what advantages it offers compared to the other stablecoins within the platform.?
What qualities does this AMM exchange present us and what are the news for the benefit of users?
If I wanted to avoid commissions by exchanging an ERC20 token for vUSD, what would be the withdrawal procedure for another exchange?
In MonoX,there are three different Liquidity Pool pairs to Create capital inefficiencies and this are capital intensive,capital expensive and last is siloed capital. So can you explain to us briefly the feature and advantages of each liquidity pools? Out of three, which is most recommendable and profit-oriented and easy to deal with? Thank you
You mentioned that vUSD is new stable coin that backed by assets in your pool. If this is a new coin, how can you assure us with the stability? What can MonoX guarantee in the future for stability of vUSD?
As the initial testing
of single token results an average of 50% cheaper trading fee than Uniswap,so is there a possibility that it can be more than 50% cheaper upon the final testing as we know Uniswap swapping charged higher than swapping tools which is connected to BSC? Aside from trading fees ,is there no other hidden charges will be deducted to trade like miners fee? I think many people would want to try to trade in MonoX because of lower trading fee,so can you tell us when it will be launch and live in the market? Does low trading fees will applicable to all ERC-20 tokens? Can we connect our respected wallet from Trust wallet or Metamask with MonoX? Thank you
I read that Monoswap is a new DeFi protocol utilizing an optimed single token design for liquidity pools. and i understand that it works by grouping deposited tokens into a virtual pair with the vUSD stablecoin. Is a vUSD the Monoswap’s stablecoin? Why vUSD and not other? Give us some example of which token will be available for those virtual pairs. AND, in the new era of liquidity pools, what is the biggest advantaged will get users in return to participate in yours?
I read that instead of using regular liquidity pool pairs, you utilize Single Token Liquidity pools, what is the main difference between the traditional and your single token loquidity pool? What are the pros and cons of your model? Do you think will be easy users ge involved fast and trust? Give us an overview how it works.
Project or developer can launch token with zero extra capital with the help of MonoX. How will MonoX gain income from offering a service to developers with no monetary capabilities? How will your investors / tokenholders gain profits from it?
The information about the private and public sales for your token $ MONO is a little limited, I couldn’t find your roadmap on your website either, what plans do you have for this year? When will all those dates be available?
Your trading feature works similar as all major DEXs / AMMs, but it’s currenty limited to ERC-20 tokens, nowadays it’s indispensable to break this kind of limits since must projects are allowing multiple currencies and cross-chain transactions, what’s next to come for MonoX Finance in the future regarding this subject?
How can Monox increase capital efficiency, what are the features within the platform that make it more profitable to do a transaction in Monox that in any other place?
What defines which providers receive more or less revenues? Since we can start with just 1 token, how are users motivated to hold more?
You are to launch your first use case of fir single token liquidity pools in the second quarter of 2021, how delighted are you and what to expect?
What is your plan for the future apart from the lending and borrowing initiative?
Can i trade from anywhere in the world and is it available for people in any part of the continent?
In the third quarter, you plan to launch borrowing and lending. Have you already thought about what conditions will be applicable for this program: the minimum and maximum loan size, terms and interest, collateral? In what time frame will applications be considered and will there be a possibility of early closure without prejudice to both parties? How will the price of assets pledged as collateral be monitored?
What is the process of trading on uniswap that will make that will help reduce cost of trading fees?
Can we stake ?
If yes please give more explanation on it because i got no hearing of it from the team.
Have you had your private sale ? and how many percent was invested, was it able to meet the low cap or hard cap
I have been wondering and thinking of how you were able to achieve the 100% capital savings for those enlisting for new projects? Put me through the process.
What do you specifically mean by the “siloed capital” that is on your website? Can i get an explanation and be put through.
What is vUSD? and why do you use it to power your protocols.
Also i did like to know what protection are implemented on your servers.
Upon entering their website, they welcome their users with the phrase “Welcome to the new generation of DeFi liquidity, where liquidity funds are unique now”. But how does MonoX offer a better concept of liquidity? How do they make these liquidity funds unique and unparalleled? Unlike “traditional” or “common” liquidity, how does MonoX make better use of liquidity?
I noticed that the name that represents your project is MonoX, but “mono” means monkey in Spanish. So this makes me wonder, do you have any relationship with Latin American communities or people? Does MonoX have any focus or plans in Latin America?
You claim to have “Lower Commercial Rates”, but you mention that each exchange has an associated fee. Then could you explain to me how many exchanges are there within MonoX ? What are the different rates provided by each one ? And why haven’t you decided to establish a fixed rate for all users ?
I check that MonoX token still not listing on any exchanger, any reason for this? So how user be able to get MonoX token? How is the distribution token mechanism?
Some of Monox expected primary users include projects and developers looking to launch their token but lacking insufficient capital to implement thereby can utilize Monox platform. What % of capital will be deducted for each project/developer and how can projects and developers in this category meet up the requirements needed to be considered by Monox team.
You claimed that MonoX’s two-tiered pool system for Official Pools and trustless listing pools makes harder for rug pulls and scam token listings to operate. How does your pools system actually counter rug pulls? Can you explain how will it stop such scam tokens?
MonoX Platforms single token liquidity pools can also be used to build optimized lending/borrowing products, as well as derivatives like futures and options trading. This is like all in one system that if will built and run efficiently can help other projects minimized their spending. Do you have plans to use your platform’s technology to offer services for other start up defi projects?
MonoX Protocol uses one liquidity pool and groups deposited tokens into a virtual pair with the vUSD stablecoin.
I assume vUSD is supplied by the MonoX? I wonder if it will cut AYR by half since virtual USD is not supplied by the user?
Exchanging Token A with Token B will works by swapping Token A to vUSD and then from vUSD to Token B. Won’t it cause 2x fees due to two transactions as opposed to direct swap? If so, how do you plan to minimize the swap fees? Thank you!
MonoX’s single token approach looks quite promising! Always good to see practical innovations! Could you please tell us if there are any competitors with similar idea and what features make MonoX stand out from the competitors. Thank you!
Actually im little shock with the change of your project name from Monoswap to MonoX, is that because people think you are swap project like uniswap? Could you share to us the reason why you suddenly change the project name?
Can you tell us what is vUSD pegged to? And what is the different with other stablecoin like USDT or BUSD? what makes vUSD special compared to other stablecoin?
Uniswap recently announced the launch of V3 which they claim will allow LPs to provide liquidity with up to 4000x capital efficiency relative to Uniswap v2, earning higher returns on their capital”. In light of this announcement, can MonoX still compete with Uniswap in terms of capital efficiency and do you have the evidence/test results to prove it?
Has the MonoX code been audited or will it be audited before launch, if not, why not?
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Please explain the “functionalities” that you say are built in to trustless listing pools to prevent rug pulls and scam token listings. How exactly will the vUSD balance be stopped from reaching zero?
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His protoloco speaks of a unique token design called vUSD, a stablecoin type set at 1: 1 USD, however there is also $ MONO (ERC-20). So if you talk about a unique token, why does it use 2 tokens in its operations?
Among the many changes made since the last experience, what new contributions have they made to optimize the security of users when exchanging and carrying out transactions?
Where did the idea of using a single token liquidity fund pair design using a pair of virtual stablecoins come from?
How do Monox work for the creation of a single-token liquidity groups? Is it correct that you can then be used as an infrastructure for different products and services defi?
Above all, you want to help build and shape the new property economy while trying to get a positive impact on the community. The main traced objective is to launch new products and innovative defi services. In what terms are liquidity groups more efficient? Will it unlock more capital futures?
In Monox the price works the same as Uniswap, using an initial price and a base price based on the initial price of an asset listed in the group. All the pairs of Pools / VUSD are in the same ERC-1155 contract? Will not external contracts insert futures?
I do not understand what it means by grouping deposited tokens into a virtual pair. can you explain this?
What are the requirements that someone who wants to participate in the Monox project must meet, either as a developer, as a merchant or as a liquidity provider?
For a developer who is starting in the world of cryptocurrencies, and who wants to place their token on the market, what does the Monox Project offer them as an attractive proposal that motivates them to invest with you?
When reviewing the website, the main mission of the Monox project is to launch innovative new products and services from DeFi. What are your expectations in the next launch of an Automated Market Maker (AMM), called Monoswap? Does this product come with new features that outperform current platforms that also offer this product, for example as Uniswap?