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$/10 users – Open chat for 80 seconds. You can post Max 3 questions. FM Gallery Team will select 10 questions and answer them.
Part 3: 300$ – A quiz about FM Gallery
For more details:
FM Gallery – @fmgalleryeng
Satoshi Club – @satoshi_club
Russian – @satoshi_club_ru
Spanish – @satoshi_club_spanish
Educational task of Satoshi Club drives us to acquaint you with all new projects. We were delighted to welcome our guests from DexKit. The AMA took place on March 10th, 2021 and our guest were @Cryptojohnnyb @CryptoAndres @jcampos8 @Krtklplz @Strainz.
The total reward pool was 500$ and was divided into three parts. In this AMA Recap we will try to summarize some of the most interesting points for you.
Part 1 — introduction and questions from the Telegram&Bitcointalk community
🤠The CrYpTo Cowboy | 🚫WILL NEVER DM YOU FIRST🚫🤠: Howdy Y’all!
Strainz: Hello Everyone!
João
Campos | dexkit.com: Hey everyone. Thanks once
again for hosting a DexKit AMA
Gold
Rocket | Satoshi Club: Good evening, dear
community!We conclude our today’s exciting AMA marathon series with Dexkit.
🤠The CrYpTo Cowboy | 🚫WILL NEVER DM YOU FIRST🚫🤠: Thank you! 🚀
cryptomillionare: Hello
Mikie
Pedersen: hello all 😄
Krtklplz: Glad to be here!
CryptoAndres: Thanks! ❤️
Andrés
M. | Satoshi Club: Hello, today our guest are from
DexKit poject, welcome to Satoshi Club. How are you today’ 😃
no
limit: just want to remind that 1st snapshot for
SSGT airdrop by YFDAI was already taken yesterday, but there is late
eligibility, so everybody can still join, only few days left!
Gold
Rocket | Satoshi Club: Impressive news !!🚀🚀🚀
🤠The CrYpTo Cowboy | 🚫WILL NEVER DM YOU FIRST🚫🤠: Fantastically well! Yourselves?
Andrés
M. | Satoshi Club: Hello, all the DexKit family is
here I think 😁 We are excited to know
more about you
Gold
Rocket | Satoshi Club: You have come to a large and
warm company!😁 To begin with, please
tell us a few words about yourselves and how did you get to be involved in
crypto & Dexkit?
🤠The CrYpTo Cowboy | 🚫WILL NEVER DM YOU FIRST🚫🤠: I am the communications officer for DEXKIT. I began like a lot of
people do with a kernel of curiosity. As I researched Bitcoin and distributed
ledger technology, I became enamored with its potential applications. I started
to get involved with projects and I am extremely happy to be a part of the
#KITcrew!
Gold
Rocket | Satoshi Club: Sounds good! 👍
João
Campos | dexkit.com: Hi everyone, I am João Campos
the head developer of DexKit, I have several years working on blockchain, and
specially DEX’s. I have built several DEX’s and now put all my experience to
built one of more advanced dex’s using ZRX protocol. I had an interview with
ZRX which explains in detail all my background: https://blog.0xproject.com/community-spotlight-jo%C3%A3o-campos-head-developer-of-dexkit-4071ec530dd6
and experience
Gold
Rocket | Satoshi Club: Excellent background🚀
Strainz: I got into crypto just buying BTC at very small amounts back in
2016. I just HODLed! hah I became apart of the DexKit team through helping out
in a lot in the social media area of things. I aim to scream the word of DexKit
from the mountain tops! haha
Gold
Rocket | Satoshi Club: It’s great to be a part of
what you love! 👍
Andrés
M. | Satoshi Club: Haha great job
Krtklplz: I started as a trader, stocks, forex and then to crypto for the
volatility… It was not until after I
came for the trades did I realize what I had stepped into in terms of being on
the leading edge of decentralization.
I was personally picked up within the community by the Dexkit team to
help with Marketing and Youtube influencers, Airdrops and promotions.
Gold
Rocket | Satoshi Club: You are in the right place
at an amazing time 👍
Andrés
M. | Satoshi Club: Where are you from?
João
Campos | dexkit.com: Portugal
Krtklplz: South US
Andrés
M. | Satoshi Club: So are you from different
countries, but where is Dxkit project based?
João
Campos | dexkit.com: DexKit works with remote
teams. Dev Team is on Brazil where I live, and Marketing team is on US and
Australia and other countries
🤠The CrYpTo Cowboy | 🚫WILL NEVER DM YOU FIRST🚫🤠: Decentralization!
Krtklplz: The team is almost as decentralized as the Project…. almost.
Andrés
M. | Satoshi Club: I think that is great, we need
more Crypto projects being developed in Latin America💪
Gold
Rocket | Satoshi Club: And that’s fine in the times
of covid. Decentralization
CryptoAndres: I got interested in crypto in mid 2019 and I started to research
about Bitcoin back then, how this works, halvings, cycles etc and I decided to
start to invest and trade it along with the normal stock market. I am a truly believer of the end goal behind
crypto about empowering people and once
DeFi exploded I decided to invest much more of my time in this life game
changer and support the cause 🙂 💪💪
🤠The CrYpTo Cowboy | 🚫WILL NEVER DM YOU FIRST🚫🤠: +1 Love this guy
CryptoAndres: exactly this! 💪
Gold
Rocket | Satoshi Club: You are a real crypto
romantic👍
🤠The CrYpTo Cowboy | 🚫WILL NEVER DM YOU FIRST🚫🤠: love is in the air lol
Gold
Rocket | Satoshi Club: 😁No doubt❤️
Andrés
M. | Satoshi Club: Nice to meet you namesake 😁
CryptoAndres: I like you Andres 😊
Andrés
M. | Satoshi Club: Haha you have impressive
backgrounds guys , we have collected some community questions for the part 1 of
the AMA, are you ready? 🥳
🤠The CrYpTo Cowboy | 🚫WILL NEVER DM YOU FIRST🚫🤠: Fire away! 🔥
Gold
Rocket | Satoshi Club: If my memory serves me, have
you already been with us?
Strainz: Indeed we have!
Gold
Rocket | Satoshi Club: So tell us what happened to
you during this time!😁
Andrés
M. | Satoshi Club: Wow, happy to have you with us
again old friends 😁
Strainz: I can’t believe it was all the way back in November already!
🤠The CrYpTo Cowboy | 🚫WILL NEVER DM YOU FIRST🚫🤠: We have been working extremely hard on our platform. DEXKIT is a
suite of 4 Defi “Super Apps” that are designed to make trading and
managing decentralized portfolios easy
João
Campos | dexkit.com: Last time we had the AMA here
we had only the aggregator, now we have the DEX on BETA with free limit orders
placement, and NFT & Dashboard in demo phase
Krtklplz: That’s Gas Free limit orders…
which for a trader like me…Its Huge!
Gold
Rocket | Satoshi Club: Great job in such a short
time!
🤠The CrYpTo Cowboy | 🚫WILL NEVER DM YOU FIRST🚫🤠: Our aggregator (https://swap.dexkit.com/#/swap) app has been out since November and accesses over 20 DEX protocols for the best prices and liquidity. The DEX exchange’s BETA (https://beta.exchange.dexkit.com/#/trade/) was just released this past week and users can get a professional trading experience that runs on top of the aggregator. Users can place limit orders GAS FREE. Our next app is going to be the whitelabel NFT marketplace (https://demo.nft.dexkit.com/#/marketplace). It will empower artists to showcase their collections and easily integrate into wordpress sites
Andrés
M. | Satoshi Club: A hot topic, everyone is talking
about NFTs
Gold
Rocket | Satoshi Club: Time passed quickly and we
are very glad to see you again🤗
João
Campos | dexkit.com: Yes indeed. We want to empower
artists with easy tools to them sell their art without being plagued with scam
collections
Strainz: We a VERY glad to be here again. You guys are awesome!
Gold
Rocket | Satoshi Club: I can say about you too! You
did a great job! We want to find out about all this as soon as possible !! ☺️
🤠The CrYpTo Cowboy | 🚫WILL NEVER DM YOU FIRST🚫🤠: The final app is the Defi Dashboard (https://demo.dashboard.dexkit.com/dashboards/overview). Users will be able to track all of the DEXKIT apps and it comes complete with a multicurrency wallet with cross chain support as well as detailed cross protocol analytics and advanced defi tools. I am going to add links to my previous messages 🙂 Links have been added. The links for the NFT marketplace and Dashboard are demo versions. Just giving people an idea of how they will look and feel
Andrés
M. | Satoshi Club: Is there any date for launching?
🤠The CrYpTo Cowboy | 🚫WILL NEVER DM YOU FIRST🚫🤠: We do not have a hard date set, but we will have a number of
promotions leading up to the release
Andrés
M. | Satoshi Club: An approximate date?🤔
🤠The CrYpTo Cowboy | 🚫WILL NEVER DM YOU FIRST🚫🤠: so check out our twitter
(https://twitter.com/dexkit)to stay up to date! @jcampos8 ?
João
Campos | dexkit.com: NFT marketplace with wordpress
integration is now our priority. We will be working tireless to release asap
🤠The CrYpTo Cowboy | 🚫WILL NEVER DM YOU FIRST🚫🤠: We love our dev team and they are working DOUBLE TIME to put it
out as soon as possible
Andrés
M. | Satoshi Club: We will be wating for news about
it
Gold
Rocket | Satoshi Club: It is very interesting
🤠The CrYpTo Cowboy | 🚫WILL NEVER DM YOU FIRST🚫🤠: Our promotional contests leading up to the release are going to be
pretty sweet, so make sure to follow us on Twitter!
(https://twitter.com/dexkit)
Gold
Rocket | Satoshi Club: Join Satoshi Clubbers🚀🚀🚀 don’t miss out on great early
bird opportunities. Thank you very much for the great intro
🤠The CrYpTo Cowboy | 🚫WILL NEVER DM YOU FIRST🚫🤠: The pleasure is all mine! 🌝
Gold
Rocket | Satoshi Club: ready for community
questions😁
Strainz: Yes we are!
🤠The CrYpTo Cowboy | 🚫WILL NEVER DM YOU FIRST🚫🤠: READY
Krtklplz: Absolutely!
Q1 from Telegram User @Z0ryan
First of all, congratulations with
KITDEX Exchange BETA launch! This is an incredible event that you have been
going to for a long time and which definitely deserves the attention of all
users! Please tell us which features we can try now? Is beta available to
everyone? And also share with Satoshi Club the first reviews of your users!n 🥳
🤠The CrYpTo Cowboy | 🚫WILL NEVER DM YOU FIRST🚫🤠: The DEX is fully functional for limit/market/hiding games orders.
The aggregator runs underneath the professional exchange ensuring the best
price and slippage for orders. Limit orders on the DEX can be placed GAS FREE
this is achieved because 0x’s routing technology allows for users to perform a
wallet to wallet swap when the order is reached with the “taker”
paying the gas for the TXN. KeeperDAO’s “Hiding Games”
integration is extremely exciting because users can earn ROOK tokens for
placing limit orders on this order book
Gold
Rocket | Satoshi Club: gas free sounds great today!
😁
Krtklplz: Gas free! has me doing backflips!
With todays gas prices it is hard for smaller capital traders and
investors to enter the ERC20 market. Even extremely costly for larger capital
traders and investors. Dexkit is
lowering that barrier which is super exciting!
🤠The CrYpTo Cowboy | 🚫WILL NEVER DM YOU FIRST🚫🤠: This is an EXTREMELY important thing for people to understand
about the DEX. Unique to our platform
João
Campos | dexkit.com: At the moment you can market
buy and sell using the Aggregator liquidity from over 20 sources, post gas less
limit orders on open Orderbook or earn ROOK posting limit orders to Hiding
Games, check Trading view Graphic with data from all decentralized exchanges
like Uniswap, ZRX protocol, Sushi and so on. Integrated easy swap interface
like Uniswap, buy with fiat ETH and supported tokens directly on the market
buy. Check order history across several sources like Uniswap, ZRX, Sushi and so
on. Mobile first ready.
And we are one of the first one to add support for
limit orders on V4 of ZRX protocol, which is one of the most efficient
protocols regarding limit orders. Limit orders posted on the exchange are
available to be filled across all DeFi space
Andrés
M. | Satoshi Club: How that protocol works?
João
Campos | dexkit.com: You sign a message with your
wallet with intentions to sell/buy a token from your wallet. Tokens only leave
wallet when the order is filled, so you have all the time the custody of the
funds
🤠The CrYpTo Cowboy | 🚫WILL NEVER DM YOU FIRST🚫🤠: Completely decentralized
Andrés
M. | Satoshi Club: Which wallets are allowed?
Metamask, Tust wallet?
João
Campos | dexkit.com: On the V4 of the DEX, Metamask
and Trust are supported, you can check it here: https://v4.beta.exchange.dexkit.com . Also
Wallet Connect which allows almost all wallets to be supported
Andrés
M. | Satoshi Club: Amazing, great work thinking in
different users
🤠The CrYpTo Cowboy | 🚫WILL NEVER DM YOU FIRST🚫🤠: There is a V3 version (https://beta.exchange.dexkit.com/#/trade/)
and a V4 version (https://v4.beta.exchange.dexkit.com/#/trade) as well. The V4
version is identical apart from running on the most up to date version of the
0x protocol. 0x V4
(https://blog.0xproject.com/say-hello-to-0x-v4-ce87ca38e3ac)is the MOST
EFFICIENT protocol on the Ethereum Network!
João
Campos | dexkit.com: And additionally, this DEX
will be available as whitelabel, so any project or individual can have their
own advanced customized DEX on the future
Gold
Rocket | Satoshi Club: and that’s great too! 👍
And you can try all of this now!‼️
Dashboard, DEX and NFT still in beta and demo but we will be releasing live
versions soon💥💥
Andrés M. | Satoshi Club:
Why does platform
not allow Ad Blocker? 🤔
João
Campos | dexkit.com: Good catch, this will be
removed on the future, so stay tunned.
Andrés
M. | Satoshi Club: Thank you 😃
Gold
Rocket | Satoshi Club: Thank you very much for such
a detailed answer! want to add something or can we proceed to the next
question?👏👏👏
🤠The CrYpTo Cowboy | 🚫WILL NEVER DM YOU FIRST🚫🤠: Let’s move forward! ✈️
Q2 from Telegram User @lzamg
I read that DexKit has a secondary token
called BITT, a social media based token. Would you give us details about the
utilities of this secondary token? How can we acquire it? What are the benefits
of holding BITT?
Gold
Rocket | Satoshi Club: To be honest, me and my
friends this year spent colossal sums on gas during swap…. And we know this
pain😂
João
Campos | dexkit.com: First of all, BITT is not
secondary token of DexKit, is a community token that uses and adopts DexKit
tech. They will be the first to have the whitelabel DEX as well, and they
use the token to reward the Bitsquad community efforts.
Strainz: BiTT is the Community’s token! BiTToken.Club will be here on Saturday
to answer everyone’s questions best during that session haha
Gold
Rocket | Satoshi Club: we look forward to them!🙏
🤠The CrYpTo Cowboy | 🚫WILL NEVER DM YOU FIRST🚫🤠: BITT currently has utility in Discord and will also be integrated
into Telegram through the TIP.CC bot. It also has utility with the Bitswap and
Crowswap branded aggregators that are powered by the DEXKIT platform. Holding
2500 BITT gives you a 90% fee discount on the platforms.
BITT will also be usable in future app
releases for Bitswap and any other community that adopts it. This is a huge
benefit to working with DEXKIT is you can leverage community currency with real
utility.
Future integrations include NFT
deflationary tokenomics, Sandbox integration and more! You can read more about
the project on the website litepaper!
Krtklplz: Bittoken is the community rewards token of the Bitsquad which is
“powered” by Dexkit. There is
some team crossover which is why I think there is a misconception about the
relationship between Dexkit and Bittoken but they are two separate projects.
Gold
Rocket | Satoshi Club: By the way, Andres and I
will host AMA with them.😉
Andrés
M. | Satoshi Club: Yes, we are happy to know more
about the whole DexKit community 💪
🤠The CrYpTo Cowboy | 🚫WILL NEVER DM YOU FIRST🚫🤠: We will be speaking in more detail about the BITToken project on
the 13th same place same time! 📺
CryptoAndres: You can see this like a Patnership or a Customer. BIITTOKEN will
have their own whitelabel NFT and DEX which will be powered by DexKIT. BITTOKEN
alrady got their own whitlabel aggregator.
We are doing more partnership like this with others. Stay tune
Andrés
M. | Satoshi Club: Are there other tokens with
which you have a similar partnership?
João
Campos | dexkit.com: At the moment no, but we
welcome anyone to join us to build one. We are open for it
Gold
Rocket | Satoshi Club: thanks for the clarification
and announcement😁 Ready
for the next question?
Strainz: Fire away!
CryptoAndres: Let’s move on
🤠The CrYpTo Cowboy | 🚫WILL NEVER DM YOU FIRST🚫🤠: So ready!
Q3 from Telegram User @cryptofollower
Use say you support more than 14
exchanges and limit orders. Using Dexkit’s Toolkit can I join the IDO’s on
decentralized exchanges? Assuming there is an IDO on Balancer. At start price
always go high and I need to wait for the price to go down and check it
frequently. Can I join it using dexkit with limit orders?
🤠The CrYpTo Cowboy | 🚫WILL NEVER DM YOU FIRST🚫🤠: I believe @jcampos8 could answer this one better than me
João
Campos | dexkit.com: Orders are open to be filled
by any source. Balancer is normally one of that sources that arbitrageurs use
to fill orders, so if your order is big enough and profitable to arbitrageurs
pick your order and sell/buy it on Balancer. Despite, orders being
gas less to place, users spent gas to fill it. So yes, we can say that if
Balancer liquidity is public you can use it to pick dips on IDO’s
Strainz: Such a great answer
Gold
Rocket | Satoshi Club: Simple and elegant solution,
I would say😁
João
Campos | dexkit.com: DexKit right now supports all
Coingecko tokens as default and search, you can add your token by address as
well
Andrés
M. | Satoshi Club: Great solution to increase the
liquidity
🤠The CrYpTo Cowboy | 🚫WILL NEVER DM YOU FIRST🚫🤠: This is a good note. Right now on ETH, Uni is 👑. As the space grows
however, 2nd and 3rd movers begin to take more of a market share. When
liquidity grows throughout the space, DEXKIT will thrive even more than it does
now
Gold
Rocket | Satoshi Club: There is no doubt about
that! 👍 Do you want to add something?
Or can we jump to the next question?
🤠The CrYpTo Cowboy | 🚫WILL NEVER DM YOU FIRST🚫🤠: Shoot! 😎
Q4 from Telegram User @Antoni_azx
It was recently announced that the
KITDEX exchange BETA is live, aiming to be a solution to the problem with DEX
protocols like the most used one: Uniswap. But this project is using a 0x V4
technology that will solve all these problems on the trading experience, can
you tell us what are the main milestones of this technology and if is it so
good why no one ever used it before?
João
Campos | dexkit.com: ZRX protocol is doing today
around 180M in volume, ZRX V4 is the next iteration of the protocol being the
most powerfull so far delivered with Limit and RFQ gas less orders highly
optimized
🤠The CrYpTo Cowboy | 🚫WILL NEVER DM YOU FIRST🚫🤠: @jcampos8 is EXTREMELY knowledgeable about 0x protocol. Many
people don’t fully understand what the project is doing. The short version is
that they are radically taking on the problems with interoperability in defi.
They are creating efficient systems for users to be able to swap tokens cross
protocol and eventually cross chain. 0x’s tech is proven and 0x V4 is the MOST
EFFICIENT PROTOCOL ON ETHEREUM
João
Campos | dexkit.com: Main tech deliver by this new
protocol is the use of Transformers, which allows DeFi legos without the need
for smartcontract wallets
🤠The CrYpTo Cowboy | 🚫WILL NEVER DM YOU FIRST🚫🤠: This is something you won’t see anywhere else.
João
Campos | dexkit.com: You can for instance do a swap
between aDai (Dai on Aave) and cUSDC (USDC on Compound) using the best
liquidity on the market
Andrés
M. | Satoshi Club: Which benefits provide this
protocol to your NFT market?
João
Campos | dexkit.com: So this feature allows us to
offer the follow swap withdraw DAI from
Aave, swap DAI to USDC, supply USDC on Compound in only a transaction
🤠The CrYpTo Cowboy | 🚫WILL NEVER DM YOU FIRST🚫🤠: A HUGE limiting factor in defi is the lack of usability for the
average consumer. DEXKIT is building tools that will make complex defi actions
far more digestible to traditional investors
Gold
Rocket | Satoshi Club: is it already working? I
want to try to be honest😁
Andrés
M. | Satoshi Club: Congratulation guys, you are
really focused in the next generation of programming
🤠The CrYpTo Cowboy | 🚫WILL NEVER DM YOU FIRST🚫🤠: The NFT marketplace will benefit from the gas efficiency from the
0x protocol. When V4 is completely integrated, it will be the cheapest place to
trade on Ethereum
João
Campos | dexkit.com: For the NFT market we will be
using the V3 version of it, as still yet not supported on the new version. On the
NFT marketplace we will be prioritizing the easy onboard for artists sell their
tokens directly on a wordpress website. You will have your own marketplace with
your coin and collection as default
🤠The CrYpTo Cowboy | 🚫WILL NEVER DM YOU FIRST🚫🤠: It is endlessly customizable as well with variable fee structures,
accepted currencies, as well as tons of design options
João
Campos | dexkit.com: One of the main issues that
artists are facing is the impersonation of collections, which we will try to
solve
Andrés
M. | Satoshi Club: Wow, a differentiating feature
that will attract a large number of users
Gold
Rocket | Satoshi Club: How will you solve this, if
not a secret?
🤠The CrYpTo Cowboy | 🚫WILL NEVER DM YOU FIRST🚫🤠: We are going to be reaching out to artists and telling them about
what we offer. We believe many of them will find it extremely valuable and help
them to stand out in such a competitive space.
João
Campos | dexkit.com: The artists could integrate
their marketplace directly on their website, instead of sending it to outside
apps
🤠The CrYpTo Cowboy | 🚫WILL NEVER DM YOU FIRST🚫🤠: So users will be sure that they are buying the real thing
Gold
Rocket | Satoshi Club: nYes, now the wild west
is going on in the NFT market. 🤠
Andrés
M. | Satoshi Club: Actually our next question is
about your NFT marketplace, ready?
🤠The CrYpTo Cowboy | 🚫WILL NEVER DM YOU FIRST🚫🤠: Let’s do it! 🤠
Q5 from Telegram User @AugusS7
It is true that NFT tokens have had an
incredible boom, many artists have created their tokens and sold them at extremely
high prices, now with Dexkit’s NFT trade, why should the creators publish and
sell their tokens on DexKit instead from other platforms? just for ease of
interface?
Andrés
M. | Satoshi Club: Partically covered 😅
Gold
Rocket | Satoshi Club: Partially answered. But I
think you have something to add😉
🤠The CrYpTo Cowboy | 🚫WILL NEVER DM YOU FIRST🚫🤠: A big part of being an artist is creating an atmosphere. Artists
put a lot of emotions into their work. Our platform is going to allow artists
and collectors alike to display their works in an environment that is unique
and welcoming to their fans. It will be more ‘curated’ than what we see
currently. Integration into existing websites is a HUGE “x-factor”
for this concept
Andrés
M. | Satoshi Club: A lot of artists are learning
about NFT to sell their art pieces at high prices and wtih low costs, is your
marketplace friendly to non-crypto people? Do you have any guides for newbies
who want to enter that ecosystem?
João
Campos | dexkit.com: We for sure will offer
tutorials and videos to explain each process of using the marketplace, it
should be as easy as buy any goodies
Gold
Rocket | Satoshi Club: you are planning to become
the center of modern crypto art revival😁
🤠The CrYpTo Cowboy | 🚫WILL NEVER DM YOU FIRST🚫🤠: Personally I currently mint art on Rarible. It is extremely
claustrophobic because there are SO MANY CREATORS on the platform! I make fairly
simple pieces, nothing that would sell for Millions of 💲. Our platform will help small artists to stand out as well as
providing a platform for experienced artists to shine even brighter! 💡
Andrés
M. | Satoshi Club: Great news, personally I’m
interested on it 😁
🤠The CrYpTo Cowboy | 🚫WILL NEVER DM YOU FIRST🚫🤠: Stay tuned for the “Trading Post” lol 🐴 NFTs should be for everyone. Not just for 🐳
Gold
Rocket | Satoshi Club: Thank you very much for your
answers and for what you are doing! This is incredible!🚀
Andrés
M. | Satoshi Club: 👏👏 completely agree
🤠The CrYpTo Cowboy | 🚫WILL NEVER DM YOU FIRST🚫🤠: This is so much fun! Love being here! 💕
Gold
Rocket | Satoshi Club: We love you guys very much
too ❤️
Krtklplz: This single idea is what drew me to the project to begin
with… Lowering the barrier for
traders, for NFT artists, for buyers, sellers traders investors even
communities.
🤠The CrYpTo Cowboy | 🚫WILL NEVER DM YOU FIRST🚫🤠: Put it on a T-SHIRT! 👕
Andrés
M. | Satoshi Club: That’s the true freedom
Gold
Rocket | Satoshi Club: I want this t-shirt too 😁
Andrés
M. | Satoshi Club: Well we have the last question
of the first part of the AMA, would you like to add something? 😃
🤠The CrYpTo Cowboy | 🚫WILL NEVER DM YOU FIRST🚫🤠:
🤠The CrYpTo Cowboy | 🚫WILL NEVER DM YOU FIRST🚫🤠: Just want
to shout out Crypto OG for making these!
🤠The CrYpTo Cowboy | 🚫WILL NEVER DM YOU FIRST🚫🤠: Ready for the last ❓
Gold
Rocket | Satoshi Club: They are great👍😁
Andrés
M. | Satoshi Club: Great design👏 we need some of them for
our community 😁
Q6 from Telegram User @yellowchamp
I see in your Dswap features that we can
purchase eth through Visa Card Payment with the corresponding country currency
and it is the first time I see for an Decentralized exchange to have this
feature. So, aside from eth do you plan to add other currency to buy thru Visa
Card Payment? Is this really safe to connect our bank account in your platform?
How safe our bank account in your platform? Can you tell us the pros and cons
or risk in connecting our Visa Card account in Dexkit swap? Thank you
🤠The CrYpTo Cowboy | 🚫WILL NEVER DM YOU FIRST🚫🤠: So the “Buy Fiat” option is facilitated through the
Transak App. Users can purchase any currencies that they support through our
platform
João
Campos | dexkit.com: On the DEX, you are able to
buy directly any token that is supported by FIAT, besides ETH, we use Transak
as our provider which is a Consensys backed company
Andrés
M. | Satoshi Club: Thank you so much for your
amazing an clear questions, I think our community enjoyed the first part as
much as I do💪
Andrés
M. | Satoshi Club:
Now is time for the second part of the AMA
Part 2 — live questions from the Telegram community
Q1 from Telegram User @Wormz28
🔥🔥🔥🔥
HELLO 🤗👋
💚 Just recently, The DEXKIT team proudly announced the release of your KITDEX BETA Exchange. So what makes the KITDEX so magical and unique from other exchanges out there? Also what versions of the app is now available at the moment?
Krtklplz: Currently the App is in Beta release. What makes the DEX so amazing to me as a trader and a trading instructor/mentor in the space is the fact that smaller traders and investors can enter the market without the worry of high gas fees.
Q2 from Telegram User @AugusS7
Detail on your website that you have a high regard for the Satoshi community, which is Great, last year we enjoyed an AMA in November, and today and on 03/13 we will have more with you, but you really believe that Satoshi Club can play an important role in the success of Dexkit and in each of its updates? but how do you really see this community?
🤠The CrYpTo Cowboy | 🚫WILL NEVER DM YOU FIRST🚫🤠: I like this question, because I believe in the power of community. Projects need strong communities to be successful. Satoshi Club has gained a large following and maintain a very positive reputation. We Love our community and we want to welcome as many people as possible to experience our apps and benefit from what we are creating! #KITcrew 💪
Q3 from Telegram User @meml97
🧨 I noticed on your roadmap that on Q3 2021 you have “Add Multicurrency Support”, could you please tell us more about this point? What kind of multicurrency support do you exactly want to add to DexKit, when will we know more about it and why will you wait until Q3 to add it to your platform when multicurrency is a really important thing for users right now?
João Campos | dexkit.com: Multichain support is becoming a top priority asides the NFT, we on our last community live updates we discussed about adding Binance Smart Chain to our current Swap interface. Other chains like Avalanche, or L2 like Polygon are investigated. We definitely want to do it before stated on roadmap, our apps are being prepared to easily extend it to these other chains. Regarding token, we look at use bridges to don’t have a need to increase supply but maintain at current supply across all different chains
Q4 from Telegram User @smelekin
Last year we have seen many projects made a good startup but suddenly abandoned the project because they didn’t get enough profit from project. How can we be sure that you won’t abandon the project even the profit is low at start?
🤠The CrYpTo Cowboy | 🚫WILL NEVER DM YOU FIRST🚫🤠: We are COMMITTED to long term success. We give regular community updates on our YouTube channel (https://www.youtube.com/watch?v=LetomEEeXJc&t=960s) bi-weekly on Fridays at 22:00 UTC. We have regular promotions on social media and we take our responsibility as the team very seriously. We know that people have a choice in how they invest their hard earned ETH, and we KNOW that with our transparency, regular updates, and valuable tools we will be successful long term
Also every comment on each livestream is entered to win 30 KIT on the following livestream!
Q5 from Telegram User @alaskasb
You mention that the KIT token is also used as a vehicle for governance in the DEXKIT ecosystem. Could you explain to me how this token also has this incredible function and how it will allow users to send proposals and vote for features or changes in the platform?
João Campos | dexkit.com: Governance will be available on Dashboard that is still being built. The aim is create an easy way to community members present proposals outside of current roadmap and get it prioritize if that’s what the majority wants, we at the moment are following roadmap, but then to drive project aligned with community best interests, we will be creating a roadmap based on governance proposals to align incentives of token holdes with the team vision
Q6 from Telegram User @JoxesXIII
The representation of real assets through NFTs is something spectacular, however some think that some regulation is necessary, what do you think about the role of real assets on blockchain?
Strainz: We love the idea of real assets on the Blockchain. When it comes to development and our NFT platform we will be focusing on digital assets as that’s where the minds eye of the masses is and where we need to focus on improving the most. Great question!
Q7 from Telegram User @meml97
🧨 According to one of your latest articles 0x right know is the most efficient DEX Protocol on the Ethereum network, and as we know 0x is the engine that powers the DEXKIT toolKIT, so could you tell us how will this be benefitial not only for DEXKIT ToolKIT, but for all the DEXKIT ecosystem and for its users? With the most efficient DEX Protocol by your side what should we expect from DEXKIT?
🤠The CrYpTo Cowboy | 🚫WILL NEVER DM YOU FIRST🚫🤠: 0x is a HIGHLY UNDERRATED project that is the foundation of what we are building. The gas-efficiency that comes from using 0x routing technology is the best in the space. We know that people are tired of paying high fees, and DEXKIT is working to streamline, simplify, and increase profitability for experienced and new users. Our YouTube channel (https://www.youtube.com/channel/UC1R-ZwZQPP_C0sauNPmcX9A) will be a platform where users can learn more about using our apps as well as become more savvy about how Defi works. We are proud of what we are building and we know that the space will benefit from what we are building.
I felt difficult using DexKit and placing orders,For a beginner do you have any guide or tutorial video to use Dexkit and how it works?
João Campos | dexkit.com: DexKit exchange is intended for advanced users place limit orders and it follows an User interface similar to Coinbase Pro for that reason. We intend to release several videos how to use the exchange for beginners and pro traders, some difficulties for onboarding are more related to how decentralized exchanges works, like the need to approve each transaction and wait to ethereum network confirm, and the need to use wrapped ETH. But as long you have all the approve, placing limit orders are as easy as place limit orders on Coinbase pro
Q9 from Telegram User @BlancaSdF
DEXs are currently full of scams from fake tokens to worthless NFTs, how do you deal with this situation, do you have any curation or whitelist in mind for this?
João Campos | dexkit.com: Our NFT marketplace with wordpress integration is used to fight the NFT scam part. Regarding scam tokens, we are using the Coingecko list of tokens and we allow people to add tokens by contract address, as best pratice is always recommend on Coingecko and Coinmarketcap if the token is legit and not a duplicated scam. We on the UI we give these information, if token is on Coingecko and their link, and as well a project address and description on the question mark
Q10 from Telegram User @csgonub
Dexkit is still in test phase so when will you start the mainnet?
Strainz:
DexKit Aggregator and KIT token itself are both fully functioning and operational. The KITDEX is in Beta and NFT marketplace is in demo mode. You can test out the functionality of the Exchange and NFT Marketplace here
Hello, Satoshi clubbers Another AMA took place in Satoshi Club and we would like to introduce to you the AMA session with our friends from Boson and our guest was Justin Banon – Co-founder of Boson Protocol. The AMA took place on 10 March.
The total reward pool was 500$ and has been split into 3 parts.
In this AMA Recap, we will try to summarise the most interesting points for you.
Part 1 — introduction and questions from the Website
Mary | Satoshi Club:
Hello Satoshi Club! We are happy to announce our AMA session with Boson!
Welcome to Satoshi Club😀
D. | Satoshi Club: Hello Satoshi Club! we are welcoming our today’s guest @JustinBanon! Welcome to Satoshi Club, good to have you here! 🤩
Mary | Satoshi Club:
@JustinBanon we are happy to see you here 😀
Justin Banon:
Hi everyone, Justin from Boson Protocol here.
Justin Banon:
Thanks @madamlobster
Mary | Satoshi Club:
How are you today, Justin?😀
Justin Banon:
Pretty good thanks. How are you?
D. | Satoshi Club: Great! 🚀
Mary | Satoshi Club:
I am fantastic and very excited 😉 we want to know about
Boson as much as possible 😀
So, let’s start 🚀?
Justin Banon:
Let’s do it!
D. | Satoshi Club:
@JustinBanon please introduce yourself and Boson Protocol 😃
Justin Banon:
Sure.
My name is Justin Banon. I am one of the Co-founders of Boson Protocol.
As MD, I previously built a $1Bn pa revenue platform
(Priority Pass Group, grown from $50m), which represented physical products and
services as digital vouchers and sold them to consumers and businesses
globally.
This included global deals with CeFi giants such as Amex,
Mastercard, Visa and over 1000+ banks worldwide. I am now bringing this
experience to crypto with Boson Protocol.
D. | Satoshi Club: Fantastic experience 👍
Mary | Satoshi Club: Nice giants list😀 do you plan to continue to work with them as Boson?
Justin Banon: One of the verticals we are developing is a crypto native rewards program- so yes.
In Blockchain, I had the privilege of working as a strategy
consultant on great projects such as DexFreight, Centrifuge, MakerDAO, and
Ocean Protocol.
Mary | Satoshi Club:
Justin, you always choose the best 😀
Justin Banon: Hahaha, I try!
D. | Satoshi Club: And what is Boson Protocol? what are you building? 😉
Justin Banon: Boson Protocol itself is a foundational primitive for connecting smart contracts to real-world commerce.
By representing future commitments to trade as stateful NFT
vouchers governed by a dynamic game mechanism, Boson eliminates intermediaries
and minimizes arbitration cost and friction. We call this decentralized
autonomous commerce.
Mary | Satoshi Club:
Sounds very interesting 😀
D. | Satoshi Club: Yes, and a bit complicated 😄
Justin Banon: Well, there is complexity under the hood, but for the users, our job is to make it easy…
Mary | Satoshi Club:
Sure! We will definitely understand how everything works after you answer all
questions from our community. But
Before we are really interested in your upcoming events😀
As i know Sale is soon?😉
D. | Satoshi Club: Token sale?👀
Justin Banon:
Yes, we have a token sale quite soon. We are about to release the date and more
details…
Mary | Satoshi Club: Could you please give us a hint – this week, this month or this quarter?😀
D. | Satoshi Club:
👍 done!
Justin Banon:
Well, more than a week and less than a quarter.
D. | Satoshi Club: Sounds like you want to participate 😉
😁👍
Mary | Satoshi Club: I am shopogolic, you know😂
D. | Satoshi Club: Thank you for the intro @JustinBanon! so I think it’s a good point to start the first part of AMA and find out more about Boson Protocol 😊
Justin Banon:
🆒
D. | Satoshi Club: Let’s go!
Q1 from Telegram user @JesusFre1tes Boson promises an Exchange of digital value for real-world products, services, or things. But, initially, what are the real-world assets that can be exchanged within your platform? Just as there are pairs of exchanges between tokens, will there be pairs of exchanges between real-world assets and digital assets? Will the ratio be 1:1? How will this process work?
Justin Banon:
The first thing that is important to address is that we’re not a platform –
rather, we’re a protocol providing builders with the foundational pieces for
the development of a multitude of decentralized commerce applications. So it’s
unlikely that you will come into the “Boson Marketplace” to shop –
rather, you will use marketplaces created by developers that join our ecosystem
– or use the redemption of digital to physical functionality within some of our
partner’s applications.
In our roadmap, we provide a glimpse into the future and the versions that we intend to ship – they progressively provide more functionality for certain use cases. Here’s the roadmap
With our first launch (v0.1) we will have a whitelist of accepted currencies for payments and deposits, but over time we will open this up to accept more tokens. We have a world-class algorithmic game theorist Dr. Akaki Mamageishvili further designing the core exchange mechanism to make the exchange of any type of good or service practical.
Mary | Satoshi Club: So, Mary wants to use your marketplace. Can you give me a simple example of its usage?
Justin Banon: Well, the happy path for our exchange process is shown here.
Mary | Satoshi Club:
Very nice visualization 👍
Thank you for your answers, Justin!
Ready to proceed or you want to add something?
Justin Banon:
Seller Offers an item at a price P, with a deposit Ds as a commitment to delivering the item to agreed quality
Buyer sees Offer, likes it and so deposits payment P and a deposit Db as a commitment to go through with the transaction.
At the point of exchange Buyer signs a redemption trxn
Asset is transferred
Seller gets paid and deposits are returned – if both parties behave honestly. Any deviation from this happy path results in deposit slashing.
More formally, we say that: “subgame perfect equilibrium implementation corresponds to the honest behavior of both players.”
Here is the full game tree.
Mary | Satoshi Club: Perfect system 👍
Justin Banon: Not quite. It’s is an “evolving complex system with guardrails” according to our advisor Dr. Michael Zargham/ The system has escalated arbitration as well. All this is being designed by one of the world’s top algorithmic game theorists Dr. Akaki mamageishvili http://mamageishvili.info/
I think we all need to check this site😉 even if someone isn’t so good in math
D. | Satoshi Club: Thank you for the great answer @JustinBanon ! ready for the next question?
Justin Banon:
Yes!
Q2 from Telegram user @NSZR1 Currently, online shopping is one of the most popular ways to acquire certain goods, however, most people use credit cards linked to bank accounts or digital money such as PayPal, my question is, In what way is the service offered by Boson Protocol to make these online payments different and better for the buyer than traditional centralized methods, and how do you plan to convince users accustomed to using conventional methods that Boson protocol is a better option? is your goal to replace those methods, or coexist with them?
Justin Banon: Well, I think payment methods are different from Boson. If you think of an online commerce transaction, there are typically two intermediaries:
a financial intermediary like PayPal or a credit card. Cryptocurrencies provide an alternative to them.
a market intermediary like amazon or PayPal, Boson provides the infrastructure to build alternatives to them.
So we displace eCommerce intermediaries rather than payment methods. We will support bridges that will enable users to buy Boson NFT vouchers with credit cards if they want to…
D. | Satoshi Club: With a credit card, it would be more convenient for most people 😄 at least now 😉
Mary | Satoshi Club: And of course, $BOSON will be accepted as payment, right?
Justin Banon: Well, the vast majority of people either don’t use crypto or use crypto but don’t manage keys. Of course, we will be supporting full Web3 and in fact, will launch into Web3 with NFT Art and gaming SDKs, but we will be building bridges for the masses to cross into de commerce.
Yes, of course, @BOSON will be accepted as payment, and if used for payment/ deposits then fees will be reduced. This encourages staking of $BOSON. In fact at full-scale Boson will be one of the largest pools of capital in DeFi. That’s why you can think of Boson as a DeFI protocol that farms liquidity via dcommerce services….
Mary | Satoshi Club: Oh, that’s attractive
D. | Satoshi Club: Are there will be many opportunities to earn ‘passive income’ from just holding $BOSON?
Justin Banon:
We are due to reveal staking mechsnism soon. We have ne of the strngest token
engineering teams, who have developed a range of mechansims from passive
staking to earning rewards from onboarding supply and curating high quality
supply. Wtach-out for an article about to drop,…
Mary | Satoshi Club:
We are waiting 👀 for it! Thank you!
D. | Satoshi Club: Great 👍
Mary | Satoshi Club:
Ready for the next question?
Justin Banon:
Yup
Q3 from Telegram user @KeymerS You say that it is preferable to tokenize future transaction commitments, using stateful NFT vouchers, but how can you really tokenize “future commitments”, could you explain in more detail? And how would this take trading to another level?
Justin Banon:
We like to explain Commitment NFT’s as future contracts for any thing. Similar
to how you make a commitment to buy or sell a standardized commodity with a
futures contract a Commitment NFT represents the commitment to buy or sell a
certain good at a future date, essentially tokenizing a future exchange.
The real big idea here is that by tokenizing these commitments to transact within a stateful commitment NFT embedded with game theory, we allow for minimized arbitration, which dramatically reduces cost and friction. That reduction of cost and friction allows for a step-change in the number of transactions, in the same way, that moving from letters to emails has created a step change in the amount of exchanged messages between parties. We believe that by decentralizing, minimizing arbitration, and freeing commerce from excess value extraction, commerce will be unleashed and new applications, use cases, and business models will emerge. Exciting times.
Mary | Satoshi Club:
Which fees will you have?
Justin Banon: There will be minimally extractive fees for coordinating transactions. These fees feedback into the token model.
D. | Satoshi Club: Very cool idea btw 👌
Mary | Satoshi Club:
Thanks, Justin!
Ready to proceed or you want to add something?
Justin Banon: Ready to proceed!
Q4 from Telegram user @lzamg It is known that the user’s information is not safe on the Internet. We’ve heard about big companies like Google or Facebook using our data without our knowledge for their own benefit. So how do you guarantee the users of Boson that their data is always safe and not being used for malicious purposes? Are users informed about what is their data used for?
Justin Banon: We will be implementing decentralized identity systems that will provide cryptographically secure data protection.
Mary | Satoshi Club: So, users will need to pass KYC?
Justin Banon:
KYC would be applied at the application level…
D. | Satoshi Club: Got it 👌by the way, I have a little question which related to previous, so many people in crypto used to see NFTs in form of beautiful pictures or gif, your NFTs will look similar or there will have some different form?
Mary | Satoshi Club: Will you develop your own decentralized identity system or you will use third party services?
Justin Banon: NFTs are these unique digital objects. most currently are static. Our NFTs are stateful, so they change state depending on the moves of Buyers and Sellers. I think of them like little labyrinth maze games…
D. | Satoshi Club: Wow, cool, awesome concept.
Mary | Satoshi Club: 👀
Justin Banon: Ah. We have a lightweight ID system we are planning plus integration with others. Our overall philosophy is to foster a composable stack of interoperable protocols, rather than build a monolith ourselves…
Mary | Satoshi Club:
Gotcha! Thanks!
Ready to jump to the next question?
Justin Banon:
You bet!
D. | Satoshi Club: Let’s go!
Q5 from Telegram user @sirdefi I’m curious, how complicated would it be to migrate an online store offering digital products to Boson Protocol technology? Is the framework easy to implement for any business? Would it be very expensive?
Justin Banon:
We are building a full set of SDKs and APIs, as well as releasing (soon) our
documentation and opening up the github repositories to the developer community
to educate them and make the process of building on top of Boson Protocol as
intuitive as possible.
Mary | Satoshi Club:
Did you already get some offers from online stores which want to migrate to
Boson Protocol?
D. | Satoshi Club: So your project will be open source?
Justin Banon: The Boson Protocol itself will eventually become a DAO that is managed and governed by the community, in a completely open-source way so there aren’t licensing or “rent” fees to pay like you would to build a store on Shopify.
D. | Satoshi Club: 👍
Mary | Satoshi Club: 😀
Justin Banon: Well, online stores are further down our roadmap. Our primary focus is creating crypto native rewards programs for crypto exchanges and crypto credit cards and we have lots of partners signed and coming through for these. We will be targeting dcommerce stores later…
Mary | Satoshi Club:
Gotcha! 👍 A lot of events ahead 🚀
Ready for the 6th and last question from this part?😀
Justin Banon: Yes. Lots of traction and partnerships😅
Q6 from Telegram user @Wormz28 Just recently, Boson Protocol Joins Blockchain Game Alliance, an organization committed to promoting blockchain within the games industry. So what will BGA provides for individuals and companies and what opportunities it will give to accelerate the fulfillment of your vision? Also are there more other reasons why you become part of BGA?
Justin Banon: We have identified gaming as an important vertical for us to explore, particularly around the digital to physical redemption feature that we are implementing. We’ve partnered with a number of projects that will power the metaverse such as Crucible, Royale Finance, and more to come Imagine finding a rare rune or in-game item and being able to receive a real-life version of that, There is a large market demand for this and our presence within the BGA will help us plug directly into this space and accelerate our growth and partnerships. We have some big announcements coming out very soon
Mary | Satoshi Club: Yes, real items attract!
Satoshiclubbers, follow Bison’s news! Sure we will get more very soon!
Part 2 — live questions from the Telegram community
Q1 from Telegram user @jirencrypto Is Boston protocol intended only for digital value exchange, and is there no possibility of scaling up to physical product exchange?
Justin Banon: I think you are mistaken. Boson exchanges digital value for physical things…
Q2 from Telegram user @tuvalunia What kind of apps can be built on Boson?
Justin Banon:
Q3 from Telegram user @KhaleesiTheCryptoLady What are crypto native rewards programs you are planning to develop? Is this exclusively for Boson NFT holders or for any type of NFTs?
Q5 from Telegram user @highpee I have read your explanation on how the idea of the commitment NFT will be implemented and I think it’s a great introduction. I just want to ask this: Are the COMMITMENT NFTs different from STATEFUL NFT vouchers or these are just referring to the same thing?
Justin Banon: They are the same.
Q6 from Telegram user @AugusS7 Do you mention that Boson allows smart contracts to exchange digital value for physical products and services with “minimal arbitrage”, but is arbitrage really necessary in these trades? If necessary, then why do I reduce it so much?
Justin Banon: Our game-theoretic mechanism minimizes the need for human arbitration, but for some cases, this may be needed. Then we will enable escalation to a human arbitrator. See the article here by Dr. Akkai our game theorist https://scholar.google.com/citations?user=gJzpDuAAAAAJ&hl=en
Q7 from Telegram user @Indomiekuy I see that Boson Protocol is a solid and good project, you also already have main product commerce. May I know what must I do if I want to do an investment with Boson Protocol? Did you have a Public Sale for Boson Token?
Justin Banon: We have just announced our pubic sale, details on our website www.bosonprotocol.io
Q8 from Telegram user @Astonroe Recently many projects got hacked and users lost their funds. Can you tell us about your platform security? Have you done any audit via any third party?
Justin Banon: Yes, we are having our smart contracts externally audited and have just passed these audits- post to follow this week. We have a very strong protocol design team with a background / PhD in security – Dr. Anish Mohammed https://www.youtube.com/watch?v=cs9O_aPMeGg
Q9 from Telegram user @Antoni_azx Boson functions can be extrapolated to many fields including machine-to-machine commerce, is it possible to get a bigger scope like government functions or just for the daily life of physical world finances?
Justin Banon: Well, actually Boson is a highly generic means of committing anonymous parties to a promise. So commerce is just a very useful subset of the use cases…
Q10 from Telegram user @Emmie971 Is it possible for Community members to contribute to the Boson Protocol Project actively? How?
Justin Banon: Yes. Please join our telegram here: https://t.me/bosonprotocol We are also about to launch a dcommerce stack development community so watch out for that…
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$/10 users – Open chat for 120 seconds. You can post Max 3 questions. Tidal Team will select 10 questions and answer them.
Part 3: 300$ – A quiz about Tidal
For more details:
Tidal – @TidalGlobal
Satoshi Club – @satoshi_club
Russian – @satoshi_club_ru
Spanish – @satoshi_club_spanish
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$/10 users – Open chat for 120 seconds. You can post Max 3 questions. NEXT.chain Team will select 10 questions and answer them.
Part 3: 300$ – A quiz about NEXT.chain
For more details:
NEXT.chain – @nextchain
Satoshi Club – @satoshi_club
Russian – @satoshi_club_ru
Spanish – @satoshi_club_spanish
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$/10 users – Open chat for 120 seconds. You can post Max 3 questions. Ehash Team will select 10 questions and answer them.
Part 3: 600$ – A quiz about Ehash
For more details:
Ehash – @EhashGlobal
Satoshi Club – @satoshi_club
Russian – @satoshi_club_ru
Spanish – @satoshi_club_spanish
Hello, Satoshi clubbers Another AMA took place in Satoshi Club and we would like to introduce to you the AMA session with our friends from DMEX and our guest was Rufus Jiang – the CTO with DMEX. The AMA took place on 9 March.
The total reward pool was 800$ and has been split into 3 parts.
In this AMA Recap, we will try to summarise the most interesting points for you.
Part 1 — introduction and questions from the Website
Mary | Satoshi Club: Hello Satoshi Club! We are happy to announce our AMA session with DMEX! Welcome to Satoshi Club😀
D. | Satoshi Club: Hello everyone! our guest today – Rufus Jiang from DMEX! thank you for joining us!
Rufus Jiang: Hello, everyone. Great to meet you here:
Mary | Satoshi Club: Welcome to Satoshi Club 😀 How are you today?
Rufus Jiang: Thanks!
Rufus Jiang: Super. You?
D. | Satoshi Club: Great! 🥳
Mary | Satoshi Club: Me as well, thanks! Let’s start our AMA 🚀
D. | Satoshi Club: And begin with intro! 😉
Mary | Satoshi Club: Rufus, please, introduce yourself and tell us more about DMEX😀
Rufus Jiang: Sure. I’m the CTO with DMEX. Prior to DMEX, I worked at companies like Amazon and Microsoft as senior engineering managers for a number of years
Mary | Satoshi Club: Impressive background 😀
Rufus Jiang: DMEX is the first the decentralized cloud mining power financial service platform
D. | Satoshi Club: You worked with the best, those companies are giants.
Rufus Jiang: We currently have 3 versions.
Mary | Satoshi Club: Tell us more about these versions😀
Rufus Jiang: With DMEX1.0, you can purchase and trade mining power NFT.
Mary | Satoshi Club: Mining power NFT it’s something special 😀
Rufus Jiang: With DMEX2.0, users can participate in decentralized joint mining. The mining rewards are settled automatically through smart contracts. 24/7 flexible deposit and withdrawal Yes indeed. It’s a world first.
D. | Satoshi Club: Yep, sounds interesting, we have a question about this feature in the next part of our AMA😉
Rufus Jiang: We basically convert mining power into NFTs and make them tradable.
Mary | Satoshi Club: 💪 And what about the third version?
Rufus Jiang: With DMEX3.0, folks can participate in liquidity mining in 3 trading pairs to obtain platform token DMC. I hope that answered your question Please go-ahead.
D. | Satoshi Club: Got it, thank you! 👍
Mary | Satoshi Club: Great! Thank you for your intro! Let’s dive deeper into the community questions 😀
D. | Satoshi Club: And the first one!
Q1 from Telegram user @Pratze In your medium, you said DMEX offers a joint mining product similar to Alipay’s Yu’er Bao. Actually, I don’t know about them at all, can you pls explain more detail about what is your mining product? and why did you make a comparison with Alipay’s Yu’er Bao? do they your main competitor?
Rufus Jiang: There was a network hiccup.
Yu’er Bao is an open fund managed by the Alibaba Group. Users can deposit their spare changes in Yu’er Bao at any time and also withdraw their funds at any time they wish. At the same time, Yu’er Bao also offers a promising return many times higher than traditional banks.
DMEX is providing a very similar service through joint mining. With joint mining at DMEX, we invest the funds in mining pools.
There’s no lower limit to how much you can invest. DMEX users are free to deposit and withdraw their funds at any time they wish.
A smart contract will automatically distribute the mining incomes to all users.
Mary | Satoshi Club: That’s really very close to open fund management 😀
Do users need to complete KYC verification on your platform?
Rufus Jiang: Yes
Yes for open fund management
As a decentralized exchange, you don’t need the KYC step.
Mary | Satoshi Club: In which crypto we can invest?
D. | Satoshi Club: And is it possible to invest with fiat?
Rufus Jiang: Folks can deposit HUSD, Fil for joint mining. And HUSD, USDT for liquidity mining.
Mary | Satoshi Club: Gotcha 👍 thank you for your answers!
Rufus Jiang: Also HT for liquidity mining.
Fiat needs to be converted to crypto first.
D. | Satoshi Club: Got it! 👌
Thank you! let’s proceed to the next question.
Rufus Jiang: Please
Q2 from Telegram user @NataliyaKil One of your products is DMEX1.0 (Mining power NFT launch, trade, and collateral loan). I would like to learn more about the features of these three points. What is your advantage over other competing projects?
Rufus Jiang: We currently support the purchase and trading of the mining NFTs.
As a world-first decentralized mining power finance platform, we have a bunch of advantages. I will list a few below
D. | Satoshi Club: Sure! 👍
Rufus Jiang: First, the decentralized platform guarantees that the mining power data is completely open and transparent. The mining income is genuine and trustworthy. The platform will not embezzle users’ funds
Second, traditional mining power platforms do not support over-the-counter mining power tradings. DMEX provides over-the-counter mining power tradings with mining power NFT. This will greatly improve asset liquidity.
Mary | Satoshi Club: Do you have statistics about your platform?
Rufus Jiang: DMEX are providing a wide range of investment options to help users earn multiple incomes. Features include but not limited to: Mining power tradings, collateral loans, liquidity mining, mutual insurance, and joint mining
D. | Satoshi Club: Yep, that’s a lot of possibilities to earn.
Rufus Jiang: A few more. DMEX greatly reduced the entry barrier to mining for the average users. Investing with DMEX is both secure and profitable
The DAO communal governance is designed to protect all users’ rights. Users can withdraw their incomes without delays.
DMEX is very unique. I hope this answers your question.
Mary | Satoshi Club: Do you have support services?
Rufus Jiang: We provide support through telegram. The statistics of the platform, someone asked earlier, are updated through the telegram group every day.
Mary | Satoshi Club: Got it! Satoshiclubbers join @DMEX_Chat 🚀🎉
Rufus Jiang: Quickly on the statistics
Number of DMC addresses: 3043
TLV: 20.64 million US$
D. | Satoshi Club: Very nice TLV 👍
Mary | Satoshi Club: Very nice numbers 👍
Rufus Jiang: Thanks!
Mary | Satoshi Club: And thank you for your answers! Ready to jump to the next question?
Rufus Jiang: Please
Q3 from Telegram user @Wormz28 You just launched your DMEX Early Pioneer Program to help you grow and you are giving out a huge DMC reward equivalent to $10,000 for your bounty program and the first phase will be running from March 5th to March 31th (or until the bounty reward runs out). This is awesome! I’m interested in joining, so can you tell us what are your Early Pioneer Program reward Allocation Rules and its General Rules? Also how’s the Registration Process and may I know if there’s 2nd phase coming after the 1st phase?
Rufus Jiang: That is a very detailed question. You can find the program details from the link below
We will keep holding various events to help the community get engaged. They will be announced through the telegram community and other venues like Twitter.
Mary | Satoshi Club: Did you get a lot of participants for this event?
Rufus Jiang: Actually, this is our first big event overseas. It’s only about a week. We’ll have more and bigger events coming.
D. | Satoshi Club: Cool, waiting for announcements 👌
Mary | Satoshi Club: I know that communities usually like such kind of events! Sure, it will be successful 🚀
Ready for the next question?😀
Rufus Jiang: Thank you! We all look forward to them!
Yes, please.
Q4 from Telegram user @alberto_vzla I understand that if we buy NFT mining energy we will be able to obtain a daily mining income, suppose that I buy 600 $ in NFT tokens In what profit margin would my NFT be located, and what percentage of income could I obtain if I buy large amounts of mining energy?
Rufus Jiang: This involves a bit of complex calculation as the return is calculated based on the daily Fil price. What I can say is that the return has been over 200% annual.
Mary | Satoshi Club: Great returns!
Rufus Jiang: The allocation rules and reward distribution schemes are available at here if you’re really interested in the details
Mary | Satoshi Club: Can you show us how your NFTs look like?😀
Rufus Jiang: Looks like Santa
It brings happiness to everyone
D. | Satoshi Club: Ahah great 😁
Rufus Jiang: 😂
Mary | Satoshi Club: Haha😂
Thanks! On this positive note can we go to the next question?
Rufus Jiang: Yes, please
D. | Satoshi Club: Let’s goooooo!
Q5 from Telegram user @tony253210 Exploring your website, I just realized that you are compatible with 2 chains, Ethereum and HECO, but DMEX is able to connect with other EVM compatible chains like BSC?
Rufus Jiang: In theory yes. But there will still be minor work to make sure everything works well on a new chain. We can quickly support other chains if needed.
Mary | Satoshi Club: Btw, how many people now in your team?
D. | Satoshi Club: So there are no plans to support BSC in the nearest future?
Rufus Jiang: About 30 or so.
D. | Satoshi Club: Wow, pretty big team
Mary | Satoshi Club: Big team! 🚀
Rufus Jiang: Not in the plan. But we’ll keep our options open.
D. | Satoshi Club: Understood 🙌
Thank you for answers! ready for the last question from part 1?
Rufus Jiang: Let’s go for it
Q6 from Telegram user @chzrles Your roadmap mentions that your marketplace will be live in 2021.02. Has this goal been completed? What can be traded through this marketplace? Is it an autonomous marketplace or can third parties also offer it?
Rufus Jiang: Yes, the marketplace is currently online. You can trade the NFTs that you purchased from the market.
For new miners to list their mining power on the market, they will need to go through the DAO validation process.
D. | Satoshi Club: By the way, can you share link with us to your market?
Part 2 — live questions from the Telegram community
Q1 from Telegram user @highpee I can see that DMEX is currently available in three versions which are DMEX 1.0, DMEX 2.0 and DMEX 3.0. Is it necessary that users of your platform will have to use the three DMEX versions or users can decide to join any of the three versions depending on what they intend to achieve?
Rufus Jiang: On the question of which version of a product to use, for version 1, we sold out all the mining power in the first few days. We’re in the process of validating more miners. You can currently participate in version 2 and version 3 now.
Q2 from Telegram user @AugusS7 If really “all procedures are decentralized and are operated by smart contracts, so there will be no room for human error” then what do you mean by “Shared Risk”? Shouldn’t it be totally risky for the investor? or does the platform also suffer risks?
Rufus Jiang: Regarding “risk-sharing”, I’m talking about miners not being able to transfer their reward to DMEX due to reasons like extreme natural events like earth quick, flood, etc. DMEX does have a risk-sharing fund managed by DAO to deal with this kind of situation.
Q3 from Telegram user @JuanSB07 I have been investing in cloud mining platforms for a long time, most of them have fallen and few are still working, that is why I have considered that there are 2 characteristics in which users or people look, the first (1) a platform that provides good Profits and that it has a sustainability basis, and the second (2) protection and guarantee that your funds will be safe (including protection against hackers). So what are the foundations that support MDEX to stay stable? And do they really have the funds protection and one anti-piracy system?
Rufus Jiang: For sustainability, we validate our miners carefully. So the miners will be of high quality and will be in the business long term. For safety, we had our smart contracts audited by 3rd party auditing firms. And as I said earlier, there’s the shared insurance trust that is managed by DAO which can be used in this situation.
Q4 from Telegram user @Joseunda What difference and advantages does DMEX have from the many Cloud Mining companies that exist?
Rufus Jiang: (1) The decentralized platform guarantees that the mining power data is completely open and transparent. The mining income is genuine and trustworthy. The platform will not embezzle users’ funds.
(2) Traditional mining power platforms do not support over-the-counter mining power tradings. DMEX provides over-the-counter mining power tradings with mining power NFT. This will greatly improve asset liquidity.
3. DMEX is providing a wide range of investment options to help users earn multiple incomes. Options include but not limited to: Mining power tradings, collateral loans, liquidity mining, mutual insurance, and joint mining.
4. DMEX greatly reduced the entry barrier to mining for the average users. Investing with DMEX is both secure and profitable.
5. The DAO communal governance is designed to protect all users’ rights. Users can withdraw their incomes without delays.
(6) DMEX offers options like joint mining products. Users are free to deposit or withdraw their funds 24/7. The annualized return rate could reach 70%.
Q5 from Telegram user @JesusFre1tes I read that When users deposit FIL into the joint mining pool, they will get a token. If they are willing to pledge the token as collateral on the DMEX platform, they can get a second income, which is the token on the DMC platform. What are the use cases and the importance of owning this $DMC token? Does owning $DMC provide any kind of strategic mining advantage? Are there any additional rewards for pledging the token as collateral on the DMEX platform?
Rufus Jiang: That is a good question. We will buy back and burn DMCs continuously. So buy holding DMC, you receive the increased value through the DMC reduction. The platform DMC will appreciate in the long run. We will also start a new feature soon that you can deposit DMCs to mine Fil.
Q6 from Telegram user @belkysgonzalez I noticed that we have to own FIL or USDT to start earning mining income. Can’t we join using other cryptocurrencies aside from USDT or FIL? Have you considered accepting other cryptocurrencies?
Rufus Jiang: We plan to support deposit ETH to mine ETH in the future.
Q7 from Telegram user @atillayeni Can you talk to us about the automatic income distribution? Don’t we need to click for claim rewards and pay gas?
Rufus Jiang: The distribution is done automatically to your account through smart contracts. You do have to click on the claim reward button to bring it to your wallet. You do need to pay for gas. The gas fee on the HECO chain is so low (a few cents) that you can basically ignore it.
Q8 from Telegram user @centoscu How can we make sure that liquidity aggregation is really transparent and completely verifiable?
Rufus Jiang: This is a very good question. Transparency is key to us as a decentralized exchange. Being a decentralized exchange, all transactions are handled through smart contracts. There’s no human intervention. All transactions can be verified on the blockchain. The contract has been audited by 3rd party auditors. The auditing report can be found on our home page. Thanks.
Q9 from Telegram user @My1queen The DMEX platform token has a total issuance of 100 million with a block reward of 5DMC/block. How is this issuance distributed and what % goes to your team.
Rufus Jiang: The distribution of the tokens is following: 50% through mining, 10% goes to the DMEX foundation, 10% to the team, 20% for early investors, 10% for the DAO risk-sharing trust.
Q10 from Telegram user @K2ice What are the three trading pairs that I can participate in to obtain platform token DMC?
Rufus Jiang: The three trading pairs are HT/DMC, HUSD/DMC, USDT/DMC.
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$/10 users – Open chat for 120 seconds. You can post Max 3 questions. SuperBid.io Team will select 10 questions and answer them.
Part 3: 300$ – A quiz about SuperBid.io
For more details:
SuperBid.io – @superbid_chat
Satoshi Club – @satoshi_club
Russian – @satoshi_club_ru
Spanish – @satoshi_club_spanish
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$/10 users – Open chat for 120 seconds. You can post Max 3 questions. PRüF Team will select 10 questions and answer them.
Part 3: 300$ – A quiz about PRüF
For more details:
PRüF – @pruftalk
Satoshi Club – @satoshi_club
Russian – @satoshi_club_ru
Spanish – @satoshi_club_spanish
Part 1: 100$ + 0.1 ETH in CWING /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$ + 0.1 ETH in CWING/10 users – Open chat for 120 seconds. You can post Max 3 questions. CHICKEN WING Team will select 10 questions and answer them.
Part 3: 600$ + 0.8 ETH in CWING – A quiz about CHICKEN WING
For more details:
CHICKEN WING – @chickenwingglobal
Satoshi Club – @satoshi_club
Russian – @satoshi_club_ru
Spanish – @satoshi_club_spanish
