We are pleased to announce our next AMA on May 5th 2021 at 01:00 PM UTC Time: Satoshi Club x Dfyn
⚠️Click to see the hour
⚠️Total Reward pool: $500
⚠️Requirements:
👉 Join Satoshi Club Telegram group
👉 Join Dfyn Telegram group
We will have the following structure:
Part 1: 100$ /6 users – We’ll select 6 questions from the community. A user can post maximum 3 questions.
Part 2: 100$/10 users – Open chat for 120 seconds. You can post Max 3 questions. Dfyn Team will select 10 questions and answer them.
Part 3: 300$ – A quiz about Dfyn
For more details:
Dfyn Website – dfyn.network
Dfyn Telegram – @Dfyn_HQ
Satoshi Club – @satoshi_club
Russian – @satoshi_club_ru
Spanish – @satoshi_club_spanish
Is a Multi-Chain DEX and represents a solution for the fragmentation problem, however, a problem as it is, fragmentation increases security since holders need to diversify the sites where their money is held. Being they able to hold it all in Dfyn, is the platform secure enough for them to be safe trusting the 100% to the platform?
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$POLX has a characteristic of being a double deflationary token, it’s mentioned on a Medium article that your deflationary burn feature will be accelerated by your “tiered network taxation”, can you provide more details about your deflationary mechanism? Will the holders also get benefited from this tiered network taxation?
I have mistakenly posted this questions here. Please ignore them it’s for another AMA.
On your value proposition you mention about offering exposure to EFi or Elastic Finance via the $POLX token, maybe we aren’t all familiar with this new sector in the crypto world, can you tell us what’s new and how exactly will the $POLX token be involved?
I have mistakenly posted this questions here. Please ignore them it’s for another AMA.
It is stated that apart from Low-fee AMM Exchange and yield farming opportunities, Dfyn will also work on providing a comprehensive platform for social tokens and NFTs… can you explain how this will be implemented, will any user be able create NFT on the platform, and what will the social tokens be used for .
Dfyn is said to be incorporating tweaks to the currently dominant Uniswap AMM model, and address issues such as impermanent loss and slippage… can you explain what tweaks of the uniswap you are adding to your model and how are you able to address the issues of Impermanent loss and slippage..
I read that Dfyn is also building a heavy-duty advisory council drawn from some of the leading names in crypto today… what will be the duties of this advisory council,why are you creating the advisory council, and how will you be deciding on what people make up the advisory council..
Can you elaborate more on your roadmap? In what part of the roadmap is your current progress and what can we expect from you in the future?
In what way can you assure security and safety in your users? Can we be 100% sure that we can trust you?
How does your platform contribute in the community? Are there benefits for long term users and new users?
Q.I’m a developer, and I’m interested in contributing to your project alongsides earning, Do you have any Bug Bounty to check for vulnerabilities ?Q.Ambassadors play a very important role in every project, Do you have an ambassador program? If yes, how can I be one
Many Project talks only about their Strenghts, Can You talk about the weak point that You project is Currently Dealing With?
The expansion of your platform to other chains is imminent, but can you tell us if there will be any change in terms of infrastructure or scalability with a specific chain? Maybe take advantage of Polkadot or BSC features in the future?
I see that you are mainly focused on launching tokens with the Ethreum platform, but specific launchpads for BSC tokens are becoming more and more popular, do you plan to incorporate them in the future as well? What advantages does Dfyn’s launchpad have over existing ones in the DeFi ecosystem?
On your website you say that Dfyn was initially launched on Polygon and will soon expand to BSC, HEC, AVALANCHE, POLKADOT, ALGORAND. But I was surprised not to see Ethereum on this list, I know that Ethereum is very troublesome right now, but do you plan to expand Dfyn to the Ethereum blockchain too one day? Maybe when they launch Ethereum 2.0?
One of the first things you say on your website is that Dfyn AMM’s are gas fee free. This intrigued me a lot since usually a part of these commissions are awarded to the native token holders. In the case of Dfyn, is this benefit not granted to holders of $DFYN? How come you don’t demand gas fees?
I was struck by your plans for the third quarter of 2021, one of your plans is “smart market maker”. I would like you to tell us a bit about this, as I only know the automated market maker. What is the smart market maker? How does it work and what benefits does it bring? Also, do Smart Market Makers have anything to do with the automated market maker? Is it some kind of improvement?
currently there is a very popular launch type called IFO, I would like to know, if DFyn will launch their token through this method?
Most of the DeFi projects are totally experimental even if they are launched for public use, which means that they can go wrong, even with a high-end audit, so I believe that what makes a project successful is the ability to identify and solve problems. Can you tell us, what are the tools that Dfyn has to identify and solve any kind of problem that may arise?
Most of DeFi sectors rely on Ethereum which has ledto it’s several flaws such as HighGas Fees,FragmentedLiquidity Pools,LowThroughput, Poor User Experience e.t.c. DeFi protocols built atop the Ethereumnetwork suffer from scalability and congestion issues. How is The Dfyn Ecosystem consisting of Multi-chainDEX, RouterProtocol, Multi-chainGasless AMM and Layer 2Launchpad going to solve the challenge mentioned above as Dfyn claims?
With a slew of competitors with same challenge of high gas fee and vying for thesame market, How does Dfyn intend to change the game and stand out ensuring gasless transactions?
what is the crucial role DFYN token will perform in the functioning of the Dfyn ecosystem? TheDFYN token is expected to have multiple utilities.. name them. How can holders of the DFYN token use theirtokens to take part in Dfyn’s voting proposals concerning protocol amendments andupgrades.
One of the products of Dfyn is the Layer 2 Galaxy Farm. Would you tell us what are the the most important features of this farming ecosystem? Is it similar to other yield farming projects or does Galaxy Farm brings new mechanisms and benefits for users? Also, which projects are participating in the development of this farming system?
Based on your Tokenomics, 2.75% of the total supply is destined for NFT Airdrops. Does this mean that Dfyn will be developing NFTs or including them in the network? Or what exactly does that mean?
DFYN AMM NOT CHARGING GAS FEES, FROM WHERE DO THEY DISTRIBUTE SOME KIND OF CONTRIBUTION TO THE COMMUNITY FOR HOLDING THE PROJECT’S NATIVE TOKENS OR IS THERE NO STAKING?
IS THERE GOVERNANCE IN THE DFYN ECOSYSTEM, IF SO, HOW IS IT IMPLEMENTED?
A couple of months back, Dfyn network in collaboration with other leading DeFi projects like Router Protocol, Polygon, etc., partnered together to launch what is called the layer-2 Galaxy farm, which offered users an opportunity to participate in an industry first cross-project farming experiment. Can you graciously describe how this process currently works, aside from earning rewards from other networks as a result of staking in a “cohort pool” what other gains do investors tend to derive, and since it’s launch roughly 2 months back, how can you access the successes and adoption of this unique farming experiment?
What are the advantages that Dfyn has compared to other similar DEX networks? What services do you offer that make you stand out from the competition and that will allow you to have a good position in the market?
What are the main elements that build DFYN’s DEX network, can you mention them and give us a brief description of each of them?
Tokenomics is one of the most important points to consider in any project, so, could you give us a brief explanation of what has been developed for DFYN, what is the allocation, the percentage of distribution, the total number of tokens they will have, among others?
You mention that Dfyn’s technical launch pad will allow creators to launch their tokens, launch ERC20s, list on Dfyn, initiate farm plays, no-code entitlement planner, and cross-chain launches. Can you tell us how will Dfyn achieve all this? When do you plan to implement it and how will users be able to carry out these transactions? You also say that Dfyn will connect to multiple sources of liquidity across all chains. What sources of liquidity will Dfyn join to offer a better platform? Will the cross-chain liquidity ecosystem built by Router Protocol be included?
In your medium I saw that DFYN carried out NFT Airdrop with an allocation of 2.25% of the total of $DFYN Tokens. Can you give us more details about this and what are your plans with the implementation of NFT? You also mention that these tokens will be unlocked for community initiatives. What strategies do you have to benefit the community and exactly what other plans do you have in mind to incentivize users?
It strikes me that the Dfyn team has designed the token distribution to be as fair as possible to all stakeholders. Can you tell us about how this design will be carried out so that the distribution is fair and without possible flaws? What strategies will you use to balance providing meaningful participation and putting the future of the protocol in the hands of the community? How do you plan to get the community involved in this?
Regarding liquidity, you mention that it is essential for the success of DFYN. Since your goal is to create an ecosystem that facilitates movement and actions. How will you get so much liquidity and what rewards will LPs have? Furthermore, regarding the Liquidity Provision Funds, how will this supply of $DFYN tokens be allocated and when will they be released?
Regarding Dfyn’s mission, you say that you are committed to establishing a thriving multi-chain ecosystem with a decentralized trustless multi-chain exchange (DEX). Tell us, How do you plan to establish this system and make it reliable? Do you have an estimated time to do this? By teaming up with an ultrafast gasless automated market maker (AMM), Can you give us information about what advantages will AMM bring to the Dfyn project? When do you plan to bring the next crypto users into the DeFi world?
Last night you’ve published a tweet about users have done 6700+ transactions on your GalaxyFarm2 and saved almost $ 210K USDT in gas fee, how do you make possible this high amount in savings?
I couldn’t avoid being interested in your research program, it says on your website that it will be used for funding research and development into crosschain protocols, can anyone participate? Do you have funds specifically earmarked for this program?
I found it interesting that DFYN has a Bug Bounty program and other programs like funding research and development of cross-chain protocols and applications. Could you tell us more about this? Can any user support developers, identify attack vectors and strengthen the DFYN ecosystem? What is the purpose of these programs and how would they benefit us?
In your roadmap I saw that you want to implement Dfyn Nodes in other chains: BSC, Polka, Avalanche, Solana; in addition to the Dfyn Token as collateral on platforms TGE listing in Uniswap L1 / Dfyn L2. Can you tell us why you have chosen to implement these nodes in each of those chains and when will the Dfyn token be listed in Uniswap L1 / L2? Do you have plans to list in other CEX or DEX? Also, I saw that you want to add a “Smart” Market Maker with Cross-Chain Credit Markets Infrastructure and Tools. Will this really allow for a hassle-free cross guarantee and borrowing through the chains? How will you do it?
Dfyn offers the community as well of developers, researchers, industry experts and potential projects and teams, an opportunity to get involved with Dfyn’s unique project and rewarding collaborations via various means which includes; the bug bounty program, the research program, partnership proposals, etc. Therefore, what are some of the basic requirements for participating in such programs and how can an investor or researcher duly apply for a research grant from Dfyn, what are the processes involved?
Can you tell us the difference between the Dfyn Exchange from Dfyn Exchange (Hardware wallet)? Which wallet is more recommendable and safe to use? Recently some wallets like Uniswap and 1inch has an airdrop to their users and now as far as I know, Open Ocean has an airdrop for their users too upon launching their token. So as a little hint to your existing and incoming users,do you plan to launch also an Airdrop in the future in your platform especially to your loyal users and traders? Thank you
According to your twitter post,we can stake in Dfyn Network and get rewarded in 11 different tokens and On day 26 of GalaxyFarm2, users have done 6700+ transactions and have saved nearly $210K USDT in gas fee. So can you tell us more about how can we get 11 different tokens just by staking in your platform? What are those 11 tokens that we can possibly get by staking? Can you explain more about the mechanics of the staking in your platform? How much would be the minimum to stake to be eligible with this event? In your previous farm,users saved a lot of gas fee so how did your platform implemented a gasless in every transaction of the users and traders? Thank you
Hello, Uniswap V3 will introduce an interesting solution that drastically increases the capital efficiency for LPs, do you offer or plan similar solutions?
Hi DFYN!
DFYN’s has a great mission of establishing a thriving multi-chain ecosystem, DEX coupled with an AMM optimized for the multi blockchain universe, this definitely sets you up for success! Does this mean you will be a layer 2 solution on all chains you partner with? Which chains are you releasing on and which are you planning to add in the future? Thank you!
Hi DFYN!
DFYN has a huge token allocation to the Ecosystem Fund, 17.45% of total $DFYN Tokens! Please tell us what you plan to use these funds on? Do you already have specific partnerships in mind? What are the best ways for your loyal user base to partake in the future distributions? Thank you!
Dfyn AMMs are gasless i.e. zero gas fees. From what sources are these costs reimbursed, have you created any kind of investment fund to provide funds for the development and full functioning of the platform?
Hi DFYN!
I am interested to learn how Dfyn will ensure gasless transactions? I understand this can be achieved inside the level 2 network like Polygon. But what about the cross chain transactions to non ETH chains, will they also be gasless? Are there any other level 2 networks you are going to be collaborating with other than Polygon? Thank you!
Lending, Borrowing and other DeFi services are so much repeated in many DeFi projects, so what is the real innovation that RICHIE is bringing to DeFi? What are you able to do that other cannot?
Are you still working on the mobile application or you only designed it for desktop users only because I tried to make use of the liquidity migrator tag on your website on my mobile phone but couldn’t connect to wallet on my mobile phone.
How do you plan to spread awareness about your project in different countries where English is not spoken well? Do you have local communities for them to let them better understand about your project?
As far as I can see, NFT and BSC are the next trend of new projects. As I know there are a lot of very good development projects on this platform, what do you think about this development?? ️
Partnerships are crucial for Adoption.
so, can you tell us what partners you have currently and future partnerships❓
On your exchange.dfyn.network platform, I found several interesting buttons in the settings: Toggle Expert Mode, Slippage Tolerance and Transaction deadline. Why do you need Toggle Expert Mode “? Why in the paragraph” Slippage Tolerance “when I put% less than 0.5, then they write to me:” Your transaction may fail “, and when I put% more than 5, they write:” Your transaction may be frontrun “? In what situations should I choose the right% and which one? And in the” Transaction deadline “the default is 20 minutes, can I change the time and what should it depend on?
When connecting a wallet to exchange.dfyn.network, I expected to see Metamask at the top of the entire list of wallets you offer to connect. Approximately 99% of projects similar to yours first of all recommend Metamask. And how surprised I was when I didn’t find it on the list. There is a specific reason for this, can you share this with us?
Dfyn is a multichain DEX which also building a proprietary XCLP (Crosschain Liquidity Protocol) on Router testnet. Could you please explain how does XCLP work on your platform and what is the benefit that you get from XCLP?
I understand that Dfyn Currently it’s the only gasless AMM on Polygon Network. Also you create $DFYN token as your native token, but could you explain a little about your token? I want to know about $DFYN token use case in your platform also how about the governance system?
Dfyn is a multi-chain AMM exchanger and powered using Polygon. As I know to trade in DFYN, we need Matic BEP2. Could you explain how do you possible convert matic ERC20 into BEP2? Do you have any guide or article about how to convert them?
IS DFYN DEX ON WHICH chain? it it a multi chain dex?
Are you planning to add NFT trade on Dfyn?
How did you determine the number of coins to be sold?
Are there plans for Dfyn expand to Solana?
Where did you get the idea to create this project? And how did you create your team?
is DFYN Token a deflationary token or how does it price increases?
Dfyn’s technical launchpad allow creators to launch their tokens, launch ERC20s, get listed on Dfyn, initiate farming plays, no-code vesting scheduler, and staking contracts on Layer-2s and cross-chain launches. How dfyn team will serve this better than other dex , because other dexes are providing same facility , why a new investor will be attracted ???
Are you taking an precautionary measures to ensure scammers will not be able to mislead investors into sending funds to the wrong address?
From someone who is new to all this, how can you best explain what makes Dfyn apart from the rest?
Do you really think that DFYN is gonna save the community from GAS FEE suffering? Can you just tell us how it works properly?
What about collaboration with CEX exchanges in sharing liquidity in latter stages?
How will Dfyn have less gass fees in case there is a delay on ethereum network update ( supposed to happen in July , promising reduced fees ) ?
How differs Dfyn from Polkaswap , they have already implemented HASH Bridge ?
I see the initial launch will be via Polygon. Read that you are looking to expand to other blockchains, could you give us a rough timescale as to how long you think this will take to expand and what benefits it will bring?
What makes Dfyn unique from other DEXs in the market?
how do you plan to differentiate yourself from your big competitors already in the top 20 MCs like Uniswap and PancakeSwap?
I come to know Dfyn is also building a heavy-duty advisory council drawn from some of the leading prominent names in crypto, what are the duties of this advisory council, what are the benifits of creating the advisory council ?
How will you ensure that we can trade assets between Multi-chain without having high gas fees ?
Hi Ramani,
How can we have a physical/virtual community as fans of Dfyn? are there meetups being organised or can we organise as local ambassadors?
How will Dfyn handle the transfer of assets between multiple blockchain ?
There is a significant level of innovation in blockchain this year, how is your team planning to keep the project competetive post launch?
As described in the white paper, various solutions to Ethereum’s scalability and cost issues have emerged in an endless stream, but no definitive solution has emerged. DFYN is well positioned to meet and address the challenges of DEFI’s development.So, who are DFYN’s best competitors so far?What are the advantages of DFYN in comparison?
As a multi-chain DEX project, what changes do you think DFYN will bring to the whole blockchain ecosystem, especially for DEFI, will it break the existing DEX landscape, and what impact will it have on Uniswap and Pancakeswap?
DFYN implements cross-chain asset migration via XCLP. In the DEFI space, can you predict where the next XCLP-enabled dApp will go?
I am very glad to have the opportunity to thank the DFYN team for their efforts, which can bring users exciting and anticipated projects. I would like to know when the team members get off work every day?Is there much pressure?Ha ha.As we all know, DEFI develops very fast, and I believe every entrepreneurial team will be very, very hard in such an environment.
Each day a new defi project is being announced and most of them address the similar problems and provides similar solutions. But the projects eventually rise will be the ones that will get approval from the orthodox economical system?
There are many amazing projects coming from India in blockchain this year but the government is not encouraging this. What challenges have you faced during this project and what is your advice to others going down this path?
Are You planning implementing in any sort of NFT token system?
First I wanna let you know that I’m still improving myself in crypto. I simply wonder that will we be able to trade on ETH network without gas fee on DFNY?
Hi,
With ETH we currently see a big variation of the gaz fees during a day, with MATIC will such a problem occur also?
And the same question for a long time utilization, will the gas price increase if more and more people use it during time like ETH in the past?
Thank you.
By creating a successful multi-chain ecosystem,
You want to include crypto users in the DeFi world. Can you explain this for us? Will we receive your partnership news on this topic?
The Eth gas fees are really huge. It hurts us 🙂 I heard your solutions for this. What is the solution for your gas fee?
Exciting multi chain vision DFYN have with Router providing the liquidlity!
How does DFYN help developers building dApps on other blockchain to port their codes set over to work with different chain smart contracts seamlessly? Will there be a SDK or sort that is truely multi-chain?
I see your initially launching on polygon which is awesome my question is how long do you think it will take you to expand onto more Blockchains like BSC, Polk etc?
And do you think there will be many teething problems along the way?
Are you planning to integrate FIAT to crypto trades and deposits, allowing new users to easily join the DeFi ecosystem? We may also plan to complete the KYC for the sake of an healthy environment.
Dfyn’s technical launchpad allow creators to launch their tokens, launch ERC20s, get listed on Dfyn, initiate farming plays, no-code vesting scheduler How dfyn team will serve this better than other dex , because other dexes are providing same facility , why a new investor will be attracted ???
While other DEXes have interesting names like pancake, sushi, unicorn, Did u think that name of dfyn did not attract investors that don’t have detailed information about DEXes And crypto? Why dfyn ?
What was the first moment you realised crypto was going to be as big as it is and what is your personal thoughts on the future of the space?
Thank you for making this AMA.
Many questions were already answered.
My question to you is: Do you plan to make a mobile APP as most users use phone predominately.
One of the main token utilities will be sharing of 0.05% each trade`s value among holders. Could it be considered securities by authorities like SEC and affect project in future? And are you planning to provide some new token utilities in future?
Why did you Choose Matic Network to build your DEX around?
what about the safety of your customers? what security advantages do you have and can you offer that make you stand out from the competition?
When i read your roadmap article i come to know this point
1. Integration with Router Aggregator Single Asset staking/impermanent loss hedging Launch of cross-chain IDO platform (L2)
2. Cross-chain credit markets infra/tools to enable seamless cross collateralization and borrowing across chains
Please make a brief description on this how is this useful to a user and what extra facilities you are adding here than other dexes already present in market ?
How is Dyfn different from its competitors? What value does it bring to the table?
The more Defi spread in mass adoption, then more people thinking about privacy.
According your litepaper you talk about security and transparent. Any plans about integration of privacy-preserving protocols?
Could Dfyn, as a multichain platform, be negatively impacted in terms of speed when one or several of the blockchains it is connected to get congested and slow? What’s the plan to mitigate this possible issue?
Can we expect additional features like Limit orders or stops on Dfyn?
Have you ever thought Dfyn will go to top coin ?