We are pleased to announce our next AMA on August 25th 2021 at 11:00 AM UTC Time: Satoshi Club x CoFiX
⚠️Click to see the hour
⚠️Total Reward pool: $500
⚠️Requirements:
👉 Join Satoshi Club Telegram group
👉 Join CoFiX Telegram group
We will have the following structure:
Part 1: 100$ /6 users – We’ll select 6 questions from the community. A user can post maximum 3 questions.
Part 2: 100$/10 users – Open chat for 120 seconds. You can post Max 3 questions. CoFiX Team will select 10 questions and answer them.
Part 3: 300$ – A quiz about CoFiX
For more details:
CoFiX Website – cofix.tech
CoFiX Telegram – @CoFiXProtocol
Satoshi Club – @satoshi_club
Russian – @satoshi_club_ru
Spanish – @satoshi_club_spanish
One unique aspect of your project is your price compensation coefficient K by using a decentralized Oracle like NEST. What does NEST mean? Why this choice? You said NEST has a risk factor of delay between current block and the block with the latest effective NEST price. How will this risk be compensated? Will this compensation compliment quoting prices from NEST? Can this guarantee sufficient motivation in the market making plan of your project?
CoFiX is a computable financial transaction model that enables the quantifiable and computable risk of other protocol layer and accurately prices risk-based financial protocols on the blockchain.CoFiX introduces brand new features to the
Crypto space including computable Financial transaction model..so,could you please explain this new feature and how does it work ?how is this differ from the general financial transaction models ?what are the advantages of using this method ?Do you have any plan to educate user about this new innovation ?
Users can participate in an asset pools market making via share subscription thereby resulting to XToken of the pool. How many subscription can a single user utilize in a asset pool? What incentive will be shared among participating subcribers? With less than 500 ETH volume removed at share redemption, what are the impact on price stability? Will this result in negative drop of subcribers?
V2.1 version of your project came with a new upgrade of fund pool contract. Can you tell us more about this contract? What are the major features on this contract? V2.0 also requires manual migration to CoFiX 2.1. what happens if staking XToken from V2.0 is not withdrawn immediately from the pool? Is there a timeframe for this withdrawal? and what is the process of migration?
Hello COFIX, I understand your COFIX 2.1 brand new upgrade fund pool contract, COFIX2.0 Pool needs to be manually migrated to COFIX 2.1 Version, V2.0 version of the pool Certificate X Token is abandoned, why did you have to abandon the V 2.0 version? What makes COFIX 2.1 version better than Pool certificate X Token? Staking will not generate CoFI rewards, but to take out the staking X Token from V2.0 as Soon as possible and withdraw Token from the pool, re-add liquidity in CoFIX 2.1, generate new XToken for mining. Could you please tell why staking will not generate CoFI rewards? What then would make it attractive and rewarding?
Risk Warning- having read your Risk warning as it relates to COFIX repurchase; you did mentioned that the price of COFI comes from the NEST Oracle machine, which will generate Oracle call fees. In addition, due to the characteristics of the blockchain itself. Please do you mind explaining to us these characteristics associated with your blockchain? That is, the nature of CoFIX? CoFIX DAO repurchase quota being released according to blocks, each block releases 50 CoFI, and the amount of repurchase has an upper limit and if the current upper limit has been reached, you may have to wait a few blocks before continuing to participate. How does this structure benefit the ecosystem?
CoFI Market Price (Nest Oracle) 0.9 USD, what is your minimum liquidity CAP an investor must have if any and what is the maximum? At 0.9 USD, for who are your target investors? On your Pool (Risk warning) CoFIX rewards liquidity provides with X Token, which allows rewardee to mine CoFI Tokens and earn ETH dividends from market fees. Could you please tell us when this ETH dividends are earned? What does it take to be a liquidity provider? Who are these liquidity providers on COFIX?
CoFiX V1.0 requires LPs to perform perfect hedging, but you notice that hedging requires additional preparation of certain assets in exchanges or hedging channels, which poses certain challenges to LPs. As a result,you plan to introduce the idea of arbitrage hedging in V2.0.Can you briefly analyze the reasons for the iteration and the features of the new version?What benefits will the continuous adjustment of the dynamic K value of CoFiX 2.0 brings to Liquidity providers?You finally moved to version V2.1,can you tell us your reason why the new version?
I read that there will be implemented a system called “Circuit Breakers” on CoFiX’s platform which, from what I understood, is an emergency procedure to protect both the trader and market maker, is that right? Can you tell us more about this? How will this Circuit Breakers exactly work so it will be able to provide a protection to everyone? On what especific cases will this emergency procedure be activated? Is this a system that users can activate if they feel threaten or is it something the platform makes by itself? Also, once this procedure has been used can it be shut down if the threat is no longer there or is it something that cannot be reverse?
CoFix as a Computation Trading Protocol has fault the present DEX AMM Trading system. You said AMM models are guilty of Poor Risk Management and utilise a Formula based pricing which causes constant asset pool loses. You have introduced an Equilibrium Pricing Model (EPM) that is backed by NEST oracle. I will like to know the advantages that EPM DEX based model have over a regular AMM system. How will this model eliminates harsh price impact especial for trades whose execution prices are heavily influenced by their trading sizes? How will NEST oracle system be able to calculate DEX trading risks and what solution or option will it offer to traders or market maker to manage counterparty risks as well as maximise their profit?
The Ethereum network experiences a collapse in the traffic of transactions that causes them to take place with a long delay and the transaction may not be confirmed for a long time. How do you prevent these cases on the CoFix platform? How do you guarantee proper functioning taking into account this disadvantage?
According to CoFiX’s trade compensation, if the volatility rate rises to an extreme level or the NEST system is attacked, CoFiX must activate an emergency procedure to protect both the merchant and the market maker. Can you explain this system protocol in more detail? What exactly does it do and how can it prevent an attack or a high volatility rate rise?
CoFi Token will be repurchased on the chain through DAO to lock in the deflation of CoFi and capture the fee income and you also plan to adopt NEST DAO governance model.Can you tell us why Multi-signature was adopted in the early stage of your DAO governance?The most important part of DAO on your platform is determination and mineable asset,can you explain more on this and what happens to assets that are not mined?Will your voting ratio be the same as NEST Protocol 51% voting governance?
CoFiX has implemented a Trigger Operator on it platform,Can you please explain what it is and also it’s functions?What is the core value of this operator in CoFiX V2.1? Thanks
I read that your trading system can both be used as Contract Settlement Trading for high liquidity asset and Fast Pricing Trading for low liquidity assets. Can you describe how your EPM model serve both functions? How do you automate the process of asset management and allocation of high liquidity asset and how do you achieve transaction settlement? How will an arbitrageur use your automatic hedging mechanism to balance transactions and how does it compensate for the price difference in the mining income of fund providers?
I read that your token is 0% pre-mined but will be 100% generated through mining. I found out that you will have three types of mining pools which are trading mining pools, liquidity mining pools and node mining pools. How are tokens generated from each pool and what types of users can mine tokens from each of the pool? How is trading mining done and how do users participate in it? Who can function as a node and how can users benefit from node reward? What token distribution mechanism will each of these pools use to distribute your token fairly to traders, LP providers, and nodes?
Intoducing CoFiX Swap, you have stressed that it is the most efficient token swap on Ethereum. How do you prove this? What are your features that support this statement? To gain this efficiency, what kind of changes have you done compared to other token swaps? What are your unique features? Further, I could not see any difference between CoFiX 2.0 and CoFiX 2.1. Can you please explain the new features in V2? Do you have plans to develop existing V2 and create more versions in the future?
Greetings CoFiX, I was seeing that it is a mining system, but that it differs from what we already know on the internet, how many types of mining does CoFiX use? and what is the function of the system, how do you work the parts of a trader and what is the difference to a market maker. What are the characteristics and functions at these points? explain us to understand the project a little better.
Cofix is an Israeli coffee shop, bar and supermarket chain established in 2013. It is popular because it uses a fixed price menu system. Did you take the name CoFiX from there? Is there a similarity between your project concept and the fixed price concept of the supermarket chain? If your name was not originated in this way, please explain the etymology of it. It seems that CoFiX is a coined word of the words, “Co” and “Fix”. What do you mean by combining “Co” and “Fix”?
In CoFiX swap, there is a fee called “Oracle Fee”. Can you please explain about this fee and the way it is calculated? What purposes are these funds utilized for? Is this Oracle Fee similar to the gas fee? In the past, we paid only a small amount of ETH as the gas fee. However, now it is too high even for a small transaction. Will Oracle Fee face the same issue with the high demand in the future? By the way, can we make our oracle fee lower by choosing a specific time of the day?
CoFiX how the price source works, where do the prices of the CoFiX exchange come from? And what would be the risk of using a decentralized oracle like NEST? What would be the guarantee of a market creator so that he is encouraged and continues to use and create the market? Tell us about these strategies, thanks
In CoFiX are there transactions ERC20 to ERC20? But when can a merchant fulfill this function of completing the exchange from ERC-20 to ERC-20, and how many transactions would we need for the exchange? How would we as traders do the exact calculations? tell us about this point that is important for those of us who want to be a merchant.
I read that The XToken represents the proportion of the asset pool owned by a market maker. As market makers place assets in the pool, they receive corresponding XTokens. But what happens when a market maker leaves the pool? The XToken names follow XT1, XT2, XT3, could you explain what are the utilities that each of them have and what benefits they give to their holders within the CoFiX ecosystem?
The risk of using a decentralized oracle such as NEST is caused by Oracle price drift and the delay between the current block and the block with the latest effective NEST price. So, could you explain to us what is The K compensation factor and how this will help CoFiX compensate for this risk by quoting NEST prices to ensure that the market maker is incentivized enough to continue making the market? With this model, how are you different from your competition?
According to the Trading Compensation of CoFiX, it is stated that if the volatility rate rises to an extreme level or the NEST system (oracle) is attacked, CoFiX will activate an emergency procedure called circuit breaker to protect both the trader and market maker…. So how will this circuit breaker work to protect the traders and market makers on CoFix, what is the level or kind of volatility that will trigger this circuit breaker.. by this statement it means there is a possibility of NEST system being attacked, so what kinds of attack is this NEST system vulnerable to, and how ready is CoFiX to handle possible attacks on this NEST system (Oracle)….
One of the statements made in your document is that “The only oracle on the market today that provides accurate and trustless pricing information is the NEST oracle” and that Its structure is entirely trustless, decentralized, and has no central point of failure. Making it the only option for DEX’s using the EPM model… So how does the NEST oracle provide pricing information that is more accurate than all other oracle’s, how did the oracle came about, and how was it designed to ensure that there is indeed no central point of failure in the NEST Oracle, will this oracle be suitable only for DEX’s using the EPM model, can other projects use this NEST oracle as well or is this oracle peculiar only to CoFix..
CoFix’s DAO governance is said to be mainly aimed at two things which are; Code revision and upgrade, and the Determination and distribution of mineable assets.. so how does one take part in each of this two Governance functions , what will be the requirements for participation in the governance processes and how are this two functions carried out within your governance system…
Regarding the governance of the CoFiX platform, the party that participates in the governance of the CoFiX system are the CoFiX governance token holders. In the early days it was governed by the developer admin account. Why did you decide to change this and give the voting power to the holders? What motivated you to make this modification?
You said CoFiX Dapp is the most efficient Token Swap on Ethereum. And reading through your documents I came across a few formulas that explained the mechanisms on your platform, however, it was still complicated to understand, and with you being an Ethereum based project I would like to know how these efficient swaps would come in handy for users when dealing with gas fees, which is the main concern for users when working in this specific blockchain.
CoFiX Dapp is designed to be the most efficient Token Swap on Ethereum. When we mention it, we automatically think of UniSwap, which happens to be the most used DEX for ETH tokens. And its biggest issue is the expensive fee that users have to pay with each transaction. Is this problem solved in CoFiX? Are there any other critical problems with UniSwap that CoFiX solves?
I was on your home page and I noticed that you offer the option to switch to the COFIX 2.0 version, anyways I wonder what are the differences between one platform and the other one? Why does the first version appear as the default if optimizations have been made in your new version?
CoFiX is known as a DEX based on the NEST oracle, so can you talk to us about the advantages of NEST oracle and how does it fit the needs of the project? Does it cover all the needs of the platform or are there more oracle services integrated? Also, since CoFiX only supports trading pairs that are included on the NEST oracle, how could users resolve this limitation if they want to trade with other pairs?
There is a feature of CoFiX called Reversing trade, and it can mine COFI Tokens by hedging. What is reversing trade, and what are the requirements for users to perform it?
One thing that caught my eye about CoFiX is your Risk Control, specifically, your Transaction Delay mechanism. Would you tell us how this feature works in detail? and how does it benefit users? Is it similar to a price locking period?
Aside from the mining users can do on your platform, do you have plans to offer any other profit-making features for users? How do investors benefit from holding and what are some alternative rewards they can get on your platform? Do you have airdrops or giveaways? Any rewards for catching bugs in the smart contract?
CoFiX announced giveaway this week to celebrate the perfect operation of COFIX V2.1 which is an upgrade to the V2. What are the reasons you decided to do this upgrade? What new features or advantages does the V2.1 have over the V2? Is the giveaway open to all? If yes, Can you share some of the details of the giveaway to us? Thank you.
Liquidity providers face the risk of “Transaction Fee and Price Inaccuracy” and “The Risk of Impact Cost”, while traders faces “The Delay Risk”. What are the features and how is CoFiX ecosystem structured to eliminate these major risks for market makers? How does Trading Compensation of CoFiX help liquidity providers hedge their risk? Thank you.
CoFiX is an advanced AMM protocol using a computable financial transaction model to eliminate major risks for market makers.
What are the advantages that CoFiX advanced AMM protocol have over the conventional AMM Protocols? How is the advanced AMM protocol implemented on your ecosystem? How is the problem of system-level arbitrage and impermanent loss associated with AMM solved with this Protocol?
Can you please share with us what Circuit breakers is? How does it work? And how can it help both Traders and market makers in Cofix.tech?
Users can play 3 different roles in CoFiX. The trader, the Market maker providing liquidity, and the Governor, that is represented by the holders of the token. In any DeFi ecosystem we can find these 3 type of users, so how can them find in CoFiX more, or new benefits than the ones in the existent decentralized marketplaces? It would be about feed, regarding to traders, interests regarding to Market Makers, and how is the decision making among governors
The prices on the CoFiX exchange come from the NEST oracle, which means that each asset pool corresponds to a NEST oracle price pair. What information is given from any trader to NEST, and how is privacy preserved in the platform? And I’m also curious about why is NEST the best choice of oracle for CoFiX?
Q. How will the NEST oracle system quantify DEX trading risks, and what solution or choice will it provide to traders or market makers in order to manage counterparty risks and maximize profits?
Q. Hello! I want to ask if what are some of the other incentives that investors can earn on your platform if they decide to hold? Are there any freebies or airdrops? Are there any incentives for discovering smart contract bugs?
It catches my attention that it signals that “CoFiX Dapp is the most efficient Token Swap in Ethereum”, but can you really explain why it is the most efficient of all Ethereum? What characteristics does it have that we won’t find it in other swap tokens? Also there are no projects with a similar token swap both in the der of Eth and in other blockchains?
Could you tell us a little about the XToken? Are these you refer to as your native LP token from your swap? Or is it really related in some way to the creation of markets?
You point out that since market prices fluctuate, it is possible that participating in the buyback is not always beneficial, and that despite their contracts being audited, they still have great risks of presenting problems, but could you really tell us more about that? Does this mean that when the market is volatile, we will not operate with CoFiX?
I could notice that your content is a bit complex, right? Therefore, how will the CoFix swap be used by very few people who are knowledgeable about DeFi transactions? Will it provide simpler articles for these types of users?
I catch my attention that they have an “additional risk control”, I understand that each platform has a risk control, but really what is that “additional” that CoFiX has? Could it be that there are so many risks that more developed mechanisms are needed to give more facilities to users?
Q. The pool Certificate X Token V2.0 version has been abandoned; why did you have to abandon the V 2.0 version? What distinguishes COFIX 2.1 from Pool certificate X Token? CoFI awards will not be earned through staking. Could you explain why staking does not result in CoFI rewards? So, what makes it appealing and rewarding?
Regarding the governance that CoFix plans to implement, could you give us details of when it will be launched? And also this will be extremely equal to those we find in other DeFi platforms? or will they really incorporate many other products?
I could read your document that CoFiX trading compensation, if the volatility rate rises to an extreme level or the NEST system is attacked, CoFiX should activate an emergency procedure to protect both the trader and the market maker, but you really could tell us more about it? How can CoFiX be attacked? And this emergency system will be able to respond and defend itself against any type of attack?
I could notice that the CoFiX Swap has very few tokens listed, so could you tell us when they will incorporate more? By focusing only on the ERC20 network, do you plan to incorporate all the tokens that we find in Uniswap?
In your White paper, you pointed that the main problems with Automatic Market Makers (AMM) are not their automatic market making or asset pooling but instead; Formula based partial equilibrium pricing causes pool losses, Poor risk management, Trading sizes are limited by Partial Price Impact. Despite all these, CoFix is still using AMM, can you tell us how you plan to overcome all the aforementioned challenges?
As a precautionary measure to mitigate issues with extremely high volatility rates or an unprecedented attack to the NEST system, CoFiX is said to duly deploy “Circuit Breakers”; which is an emergency procedure meant to protect traders and market makers. As seen from recent security and exploitative market actions, no system is a 100% safe. Therefore, can you briefly describe the conditions and processes by which your Circuit Breakers are effectively triggered, and what happens to an open trade during the emergency timeframes, and asides this system, what are other security measures implemented by CoFiX?
CoFiX in collaboration with Gate.io currently has a running event known as “HODL and Earn lock up”, where investors are literally encouraged to hold their CoFi tokens for a duration of 14 days and get guaranteed APY returns of a 100%. From an investors point of view, what are the necessary requirements to participating, and what is the minimum amount of CoFi tokens one can lock up? Also as this is a phase 3 event, can you briefly explain how the previous phases were conducted and how successful were they?
What plans do you have in terms of increasing the participation of your users, miners and traders in the evolution and decision-making of the project? What will the structure of your DAO mechanism be like and what incentive mechanisms will exist for all parties in your ecosystem?
Can you tell us why did you decided to create a 100% generation of your tokens through mining? Can you explain the mechanisms to mine CoFi tokens and how can the common users be part of these features?
Q. Could you please clarify what the K compensation factor is and how it will enable CoFiX compensate for this risk by quoting NEST prices to ensure that the market maker is sufficiently incentivized to keep making the market? How do you set yourself out from the competitors with this model?
CoFiX, how are you? Would you mind sharing your distinguishing characteristics with us? In addition, there was no discernible difference between CoFiX 2.0 and CoFiX 2.1 in my opinion. Could you please describe what’s new in V2? Do you intend to continue to develop V2 and release further versions in the future?
Q. To protect both the trader and the market maker, CoFiX will initiate an emergency process known as circuit breaker. So, how would this circuit breaker safeguard traders and market makers on CoFix, and what is the degree or type of volatility that will set it off?
According to what I’ve read, your trading system can be utilized for both Contract Settlement Trading and Fast Pricing Trading for high and low liquidity assets. Can you explain how your EPM model satisfies both of these requirements? How do you automate asset management and asset allocation for high liquidity assets, as well as transaction settlement?
I’m curious as to who your target investors are. CoFIX compensates liquidity providers with X Token, which allows the rewardee to mine CoFI Tokens and receive ETH dividends from market fees on your Pool (Risk alert). Could you please let us know when the ETH dividends will be paid? What are the requirements for becoming a liquidity provider? On COFIX, who are these liquidity providers?
What are CoFiX’s future plans over the following months and years?
On 23rd of August, $COFIX staking programme has been started on gate.io with a locking period of 14 days & promising 100% APR. What is the minimum & maximum amount of $COFIX that users can stake? How about the reward system in this event, Can stakers redeem their rewards on daily basis just like other staking protocals in other platforms? But the main issue of these staking events is that users cannot profit sometimes even their preliminary investment since the rapid dumping of native tokens. I also experienced such a situation recently. So can you gurantee to the CoFIX users that $COFIX is not going to dump in the market after we redeemed our rewards?
As you mentioned, the pool certificate XToken of CoFIX 2.0 Version is abondoned & Currently it will not generate $COFI rewards. So how do users migrate their Crypto assets from double sided pools such as ETH, USDT from V2.0 to V2.1? What is the big difference between V2.0 and V2.1? Will you incur any kind of handling fee for the V2.1 staking protocal?
You built the CoFIX Swap tool rely on Ethereum mainnet. We all know that Ethereum is famous for high gas fees. How will you avoid high slippage for the COFIX users since some kind of Swaps incur about worth of 5USDT tokens for Converting 10USDT tokens? Due to Ethereum it will be more than that. So what is the solution, you introduce through CoFIX Swap Tool?
Cofix Version 1 was being terminated and you officially launch the Cofix Version 2.1. So,can you tell us why does Cofix Version 1 was being terminated? Was there any problem behind or you just want to upgrade to latest version? or can you tell us any problem behind Cofix Version 1,if any? Upon,launching Cofix Version 2 what innovative features and development we can see from it that we cannot see from Cofix Version 1? How does it become a way better than the previous version? What to expect to this version?Since you have Cofix Version 1 and 2.1,do you have any plan to upgrade it to another version like Version 2.3 or Version 3 in the future? Thank you
As describe in your website that
“CoFiX, A computable financial transaction model”. So,in simple words can you explain more about this statement of yours? What is the significant of using math words in describing Cofix? What makes Cofix,a computable financial transaction model? Aside from this statement as description for Cofix,what other word or term can be describe Cofix that can be easily understand or remember by your users and the community? Thank your
having read your Risk warning as it relates to COFIX repurchase; you did mentioned that the price of COFI comes from the NEST Oracle machine, which will generate Oracle call fees. In addition, due to the characteristics of the blockchain itself. Please do you mind explaining to us these characteristics associated with your blockchain? That is, the nature of CoFIX?
I read that there will be implemented a system called “Circuit Breakers” on CoFiX’s platform which, from what I understood, is an emergency procedure to protect both the trader and market maker, is that right? Can you tell us more about this? How will this Circuit Breakers exactly work so it will be able to provide a protection to everyone? On what especific cases will this emergency procedure be activated? Is this a system that users can activate if they feel threaten or is it something the platform makes by itself?
In CoFiX are there transactions ERC20 to ERC20? But when can a merchant fulfill this function of completing the exchange from ERC-20 to ERC-20, and how many transactions would we need for the exchange?
Users can play 3 different roles in CoFiX. The trader, the Market maker providing liquidity, and the Governor, that is represented by the holders of the token. In any DeFi ecosystem we can find these 3 type of users, so how can them find in CoFiX more, or new benefits than the ones in the existent decentralized marketplaces?