Satoshi Club

Today our AMA session with our friends from Yolex exchange. DEX Crypto exchange offers to earn up to 200% for staking its YEX tokens. Let’s take a closer look at this crypto dex platform.

Our guest: @peter_yolex  Anderson – Blockchain Developer and Crypto at heart.

PART 1, INTRODUCTION AND COMMUNITY QUESTIONS.

Gold Rocket | Satoshi Club: Hi everyone, welcome to another episode of our AMA series
Our AMA today is with Yolex.io 

Luis Merino 🇪🇸 | Satoshi Club: Hello SatoshiClubbers! Welcome to another AMA session with Satoshi Club. Today our guests are from Yolex.io. @peter_yolex welcome! 😉

Gold Rocket | Satoshi Club: Welcome @peter_yolex and thanks for joining us.

Anderson – WILL NOT PM YOU FIRST WATCH OUT FOR SCAMMERS: Hello to everyone! Thank you, glad to be here.

Gold Rocket | Satoshi Club: Nice to meet you. Please tell us a little about yourself. How did you develop in crypto? And also about your project. What is Yolex.io?

Anderson – WILL NOT PM YOU FIRST WATCH OUT FOR SCAMMERS: I and my cofounder have both worked as software engineers for over 7 years and as blockchain developers for over 5 years. I have personally worked with some major blockchain firms and hence the interest in cyrpto. Yolex was born from the idea of simplifying DEX and also extending its functionalities. We believe Dex is the future as most people are beginning to turn away from the traditional CEX platforms.

Luis Merino 🇪🇸 | Satoshi Club: Great story!

Anderson – WILL NOT PM YOU FIRST WATCH OUT FOR SCAMMERS: Thanks

Gold Rocket | Satoshi Club: what year did it happen?

Luis Merino 🇪🇸 | Satoshi Club: Blockchain devs for 5 years! Sounds really good. You are very experienced for sure 😀

Gold Rocket | Satoshi Club: This is impressive!

Anderson – WILL NOT PM YOU FIRST WATCH OUT FOR SCAMMERS:
We started developing the Yolex project since in May 2020 and finally launched September 2020.

Gold Rocket | Satoshi Club: This is a new project with experienced developers!

Luis Merino 🇪🇸 | Satoshi Club: Anything else to add? Or can we move to part 1?

Anderson – WILL NOT PM YOU FIRST WATCH OUT FOR SCAMMERS: Yes we can move to more questions.

Luis Merino 🇪🇸 | Satoshi Club: @GoldRocket27 let’s go with part 1 then 😀

Anderson – WILL NOT PM YOU FIRST WATCH OUT FOR SCAMMERS: Alright

Gold Rocket | Satoshi Club: Thanks for sharing! we go to part 1

The questions from the Telegram&Bitcointalk community

Q1 from bitcointalk user ballentines87 @PaoloMonte87 on Telegram
The initial amount of YEX tokens is only 100 and you’re stating that new YEX tokens will be minted to yield rewards and rebates to users. At the same time, you’re also stating that – as more YEXes are minted – an annual halving will take place and these rewards will reduce, but there doesn’t seem a total pre-established total supply number of YEX in circulation (or is it?). How can that sustain the token price over time?

Anderson – WILL NOT PM YOU FIRST WATCH OUT FOR SCAMMERS: The YEX token is designed to maintain stability and manage inflation, the reason why halving is integrated. There are not cap to supply because the system token rewards on itself regulate the supply and from our own projection, it might take 10 years to have 100,000 YEX tokens minted. This brings value to its price and staking also reduces the number of YEX in circulation which inturns increase its price value.

Luis Merino 🇪🇸 | Satoshi Club: Got it. Is staking already available?

Gold Rocket | Satoshi Club: Thanks!

Anderson – WILL NOT PM YOU FIRST WATCH OUT FOR SCAMMERS: Yes staking is available. To mint more YEX token, a user must stake an amount of YEX token for a period of 3, 7, or 30 days.

Luis Merino 🇪🇸 | Satoshi Club: Are staked tokens? Or can I withdraw them when I need them? locked?

Anderson – WILL NOT PM YOU FIRST WATCH OUT FOR SCAMMERS: Yes they are locked up for several days depending on the staking package.

Luis Merino 🇪🇸 | Satoshi Club: Understood! Thank you. Q2? 🙂

Anderson – WILL NOT PM YOU FIRST WATCH OUT FOR SCAMMERS: Okay😀

Gold Rocket | Satoshi Club: Do you want to add something or can we move on?

😀This is an interesting question. You should like it;)

Q2 from bitcointalk user @BinsonAbraham

What happens to most of the projects is that when people get the token instead of holding them they sell them right away.

Because they are scared that the price might go down…

How will $YEX keep the token price-stable…?

Anderson – WILL NOT PM YOU FIRST WATCH OUT FOR SCAMMERS: One of the ways we encourage people to hold is by rewarding them when they stake/hold. There are two main ways to earn rewards on Yolex, which are: daily rebase and trade rewards. With these rewards provisions, a user is likely to hold and gain more tokens over time and then to sell. And we are also integrating other incentives to encourage holding.

Gold Rocket | Satoshi Club: Not a bad strategy.

Anderson – WILL NOT PM YOU FIRST WATCH OUT FOR SCAMMERS: Thank you. YEX token has a good supply system. The number of tokens in circulation will remain the same unless a user stakes and unstakes after a given period. So this controls the number of tokens in circulation.

Luis Merino 🇪🇸 | Satoshi Club: Great idea!!

Gold Rocket | Satoshi Club: What advice can you give your holders?

Anderson – WILL NOT PM YOU FIRST WATCH OUT FOR SCAMMERS: There are 3 different staking package and I will advise a user that owns YEX tokens, to stake on a 30-day package because this package plan gives the best return on investment.

Luis Merino 🇪🇸 | Satoshi Club: The more days you stake, the more returns you get 👍🏻

Gold Rocket | Satoshi Club: By the way, Rebase happens every 24 hours, right?  Which formula do you use for it? This is an interesting question. You should like it;)

Anderson – WILL NOT PM YOU FIRST WAssTCH OUT FOR SCAMMERS: The trading reward is calculated by the amount of token swapped and converted to YEX’s current market value and multiplied by the package trading reward percent. An example would be if a user staked 10 YEX token on a 30DAYS package and swapped 5 ETH for any other ERC20 tokens. If the amount of YEX to ETH is 1:1, then the user should get 5 YEX * (2.0/100) YEX tokens as a reward, and these rewards are computed daily on-chain and can be tracked on the Yolex.io staking interface.
‌ On the other hand, rebase is computed just once a day. The amount is fixed and can only be increased whenever the user increases his or her staked amount. An example would be if a user staked 10 YEX token on a 30DAYS package. The user will get a daily rebase of 10 * (1/100) YEX. This rebase amount will add up daily and can be tracked on the Yolex.io staking interface.

Gold Rocket | Satoshi Club: Yeah, thanks for sharing.z

Anderson – WILL NOT PM YOU FIRST WATCH OUT FOR SCAMMERS: The rebase happens every 24 hours at 10:10 pm UTC.

Gold Rocket | Satoshi Club: Q3 from Telegram user @bitcoinistic
The price of your token was 2700$ 10 days ago. Now it’s 176 and the liquidity dropped significantly. What happened during these days that influenced the price in such a way?

Luis Merino 🇪🇸 | Satoshi Club: I like this question 😀

Anderson – WILL NOT PM YOU FIRST WATCH OUT FOR SCAMMERS: This is related to presale investors token distribution. The presale was designed in a way that presale tokens were locked for 30days (staked). It is understandable that some of the initial presale investors are likely to exchange some of their tokens after waiting for a long period. There are other factors too that influence this drop but we are very much working to facilitate its recovery.

Luis Merino 🇪🇸 | Satoshi Club: How much did you raise with presale?

Anderson – WILL NOT PM YOU FIRST WATCH OUT FOR SCAMMERS: A total of 145 ETH was raised from initial investors.

Gold Rocket | Satoshi Club:
Tell me please did you already audit your smart contracts?

Anderson – WILL NOT PM YOU FIRST WATCH OUT FOR SCAMMERS: The smart contract has not been audited yet, but an audit arrangement has been made and hopefully we will have the audited report soonest.

Gold Rocket | Satoshi Club:
this is a great result!

Luis Merino 🇪🇸 | Satoshi Club: Great amount!!

Anderson – WILL NOT PM YOU FIRST WATCH OUT FOR SCAMMERS: Thank you.

Luis Merino 🇪🇸 | Satoshi Club: Ready for Q4?

Anderson – WILL NOT PM YOU FIRST WATCH OUT FOR SCAMMERS: We can proceed.

Q4 from Telegram Username @apocan99
If I don’t unstake my assets after the due date, I will continue to earn rewards which is great. But does the system renew the staking contract based on the current staking choice or does it continue daily? For example, if the staking period is 7 days and it wasn’t unstaked at the end of the period, will I need to wait for another 7 days or can I unstake whenever I want? (Considering the reward percent change based on staking period also)

Gold Rocket | Satoshi Club: Good question!👍

Anderson – WILL NOT PM YOU FIRST WATCH OUT FOR SCAMMERS: So taking the 7 days example from the question. If a user takes an amount of YEX token on a 7 days package if at the due date the user chooses not to unstake (mint tokens) the rewards continue and reward computation remains the same. The user can unstake anytime after the due date is passed.

Luis Merino 🇪🇸 | Satoshi Club: Very clear answer! Thank you. No questions for this one 😀@GoldRocket27 do you have any questions?

Gold Rocket | Satoshi Club: I like this answer😀

Q5 from Telegram Username @KathDM
I read that you are currently working to integrate time base limit orders on the Yolex platform. How will this feature work and when will it be integrated?

Anderson – WILL NOT PM YOU FIRST WATCH OUT FOR SCAMMERS: Yes, at the moment we are anonymous, but this will change as soon as certain structures are put in place.

Gold Rocket | Satoshi Club: This is a very important point! Are you want to add somethings or can we move on to the last question?

Anderson – WILL NOT PM YOU FIRST WATCH OUT FOR SCAMMERS: We can proceed.

Gold Rocket | Satoshi Club: Q6 from Telegram Username @Brainchest
Will the use of the YEX token be other than receiving rewards for staking and trading operations? I am afraid that if I buy now at the current price, I will lose, as people receiving the reward will sell, thereby the price will drop sharply. Do you have a price protection mechanism?

Anderson – WILL NOT PM YOU FIRST WATCH OUT FOR SCAMMERS: There are also plans to integrate rewards for providing Liquidity on Uniswap, as we believe this will boost the price value and even if people unstakes, there will be a balance as other people are also buying to stake and adding liquidity for rewards. This we believe will help regulate and keep the price stable.

Gold Rocket | Satoshi Club:
So you have thought of everything. Anything else you want to say before we open the chat for live questions?

PART 2, TELEGRAM COMMUNITY LIVE QUESTIONS

In this part, we open a chat for the crypto community for 80 seconds. Then the guests from the crypto project choose the top 10 questions. These 10 crypto enthusiasts will earn cryptocurrencies. 

Crypto pool  of  reward: 125 $

Q1 from Telegram User @apocan99

⚡️ I can not change the staking package after I stake but I can increase my staking amount. How are the rewards calculated on an increment? Based on the last amount reached or is it done part by part depending on the change times of amount?

Anderson – WILL NOT PM YOU FIRST WATCH OUT FOR SCAMMERS: Yes you can only increase the amount staked. When you add tokens to your stake, the reward cap is recalculated, but the reward percent itself does not change. So say you staked 5 YEX on a 3 0 days package, that would be that your reward cap will be 10 YEX (the maximum amount of yex rewards you can get on that stake) If you now increased your stake amount to 7 (adding 2 more yex tokens) Your reward cap will increase also to 14.

Q2 from Telegram User @Maksyrn

Do you plan to list YEX tokens on centralized exchanges, and where can you buy them now?

Anderson – WILL NOT PM YOU FIRST WATCH OUT FOR SCAMMERS: Yes, we are currently talking to some major CEX for possibilities of listing on their platform. Currently, you can buy YEX on Yolex.io and Uniswap.

Q3 from Telegram User @AugusS7

Rewards of 2.5% of the exchange and 100% of the stake is really A LOT, is this a measure that will remain lasting in Yolex? or is it simply to attract its users and to lock large capital in the stakes?

Anderson – WILL NOT PM YOU FIRST WATCH OUT FOR SCAMMERS: Good question. The reward percentage will reduce with time. We have a halving system in place to regulate this as supply increases. Circulating supply now is very low and as stakes increase and more tokens are minted, the reward percent will reduce.

Q4 from Telegram User @Winterkom

– Can I swap with Yolex all the tokens that are available at Uniswap? Do you have a separate liquidity pool or do you use Uniswap liquidity pool?

Anderson – WILL NOT PM YOU FIRST WATCH OUT FOR SCAMMERS: Yes you can swap almost all tokens that are available on Uniswap on Yolex.io. We recently integrated an additional feature that allows you to swap any ERC20 token by just copying and pasting the token address.

Q5 from Telegram User @kun4321

How can I change the staking package after I stake?

Anderson – WILL NOT PM YOU FIRST WATCH OUT FOR SCAMMERS: You can not change a staking package on an active stake, but you can increase your staking amount.

Q6 from Telegram User @notulu

Since most smart-contracts are becoming a scam. How will you prove your project?

Anderson – WILL NOT PM YOU FIRST WATCH OUT FOR SCAMMERS: Our contract is verified and open on etherscan and also tokens assigned for development and airdrops are locked on a third-party smart contract (Trustswap). The Uniswap liquidity is also locked with Uniscrypt. We make sure we stay transparent and open in all our dealings.

Q7 from Telegram User @wonderkit

What is Yolex developing right now that will attract crypto investors and users?

Anderson – WILL NOT PM YOU FIRST WATCH OUT FOR SCAMMERS:

First, our platform makes the process of swapping tokens simple, easy, and straight to the point, and additionally; the Limit/stop-loss feature is much needed in the DEX space. Token prices are very unstable and on a DEX platform having a feature that allows you to set sell orders without having to go through the regulated stressful centralized processes is a needed feature. We also believe our upcoming cross-chain token swap integration would attract users and keep them on the platform.

Q8 from Telegram User @jpsarmah

If I buy and hold YEX for the long term, in what ways the benefits will come to me?

Anderson – WILL NOT PM YOU FIRST WATCH OUT FOR SCAMMERS: Yes, we encourage a long time hold/stake so as to keep the price stable and also benefit the stackers. The longer the stake, the more reward tokens you will get.

Q9 from Telegram User @CRYPTOCOMMUNITYKINGOFDEFI

Can we swap tokens of different blockchains, can we swap BTC to eth in near future?

Anderson – WILL NOT PM YOU FIRST WATCH OUT FOR SCAMMERS: Yes, we are currently working on this feature and should be live on our platform soon.

Q10 from Telegram User @DiegoRME

What requirements do I need to make in order to participate in your staking system? How much are the minimum and the maximum to Staking on your platform?

Anderson – WILL NOT PM YOU FIRST WATCH OUT FOR SCAMMERS: There are not the minimum or maximum amount of YEX token to stake. You can stake any amount. Everyone is welcome to become a part of our growing community.

Part 3 – Quiz Section

As usual, for the third part, Satoshi Club Team asked the chat 4 questions about the DeFi crypto project. A link to a Quiz form was sent into the chat. Participants had 10 minutes to answer. 350$ in crypto-currency was distributed between the winners.

Yolex Quiz Answers.

What was the initial total supply of YEX token?

• A. 100,000,000
• B. 500,000,000
• C. 100
• D. 100,000
• The correct answer is C

On what date will the Limit Order Feature be launched on Yolex?

• A. 21st October 2020
• B. 17th October 2020
• C. 18th October 2020
• D. 30th October 2020
• The correct answer is B

What is the daily rebase percent for 30 days stagers?

• A. 0.1%
• B. 2%
• C. 5%
• D. 1%
• The correct answer is D

What is the symbol of Yolex Token?

• A.YOLEX
• B. LEX
• C. YEX
• D. YOL
• The correct answer is C

For more details:
Yolex.io – @yolex_io

English Telegram group: https://t.me/Satoshi_club

Russian Telegram group: https://t.me/satoshi_club_ru

Spanish Telegram group: https://t.me/satoshi_club_spanish

Telegram Channel: https://t.me/satoshi_club_channel

Website: https://esatoshi.club/

Twitter: https://twitter.com/esatoshiclub 

Our Crypto Partner by this AMA:

Website: Yolex.io 

Telegram Yolex: @yolex_io

We are pleased to announce our next AMA on October 26th 2020 at 03:00 PM UTC Time: Satoshi Club x Momentum

⚠️Click to see the hour
⚠️Total Reward pool: $1500

⚠️Requirements:
👉 Join Satoshi Club Telegram group
👉 Join Momentum Telegram group

We will have the following structure:

Part 1: 350$ /12 users – We’ll select 12 questions from the community. A user can post maximum 3 questions. 12 Questions will be selected from our website – please submit your questions in the comments section of this post.

Part 2: 350$/15 users – Open chat for 80 seconds. You can post Max 5 questions. Momentum Team will select 15 questions and answer them.

Part 3: 800$ – A quiz about Momentum

For more details:
Momentum – @xmmtoken
Satoshi Club – @satoshi_club
Russian – @satoshi_club_ru
Spanish – @satoshi_club_spanish

We are pleased to announce our next AMA on October 24th 2020 at 02:00 PM UTC Time: Satoshi Club x Finance.vote

⚠️Click to see the hour
⚠️Total Reward pool: $500

⚠️Requirements:
👉 Join Satoshi Club Telegram group
👉 Join Finance.vote Telegram group

We will have the following structure:

Part 1: 100$ /6 users – We’ll select 6 questions from the community. A user can post maximum 3 questions. 6 Questions will be selected from our website – please submit your questions in the comments section of this post.

Part 2: 100$/10 users – Open chat for 80 seconds. You can post Max 5 questions. Finance.vote Team will select 10 questions and answer them.

Part 3: 300$ – A quiz about Finance.vote

For more details:
Finance.vote – @financedotvote
Satoshi Club – @satoshi_club
Russian – @satoshi_club_ru
Spanish – @satoshi_club_spanish

We are pleased to announce our next AMA on October 25th 2020 at 02:00 PM UTC Time: Satoshi Club x Poolz

⚠️Click to see the hour
⚠️Total Reward pool: $1000 at the listing price

⚠️Requirements:
👉 Join Satoshi Club Telegram group
👉 Join Poolz Telegram group

We will have the following structure:

Part 1: 200$ /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: 200$/10 users – Open chat for 80 seconds. You can post Max 5 questions. Poolz Team will select 10 questions and answer them.

Part 3: 600$ – A quiz about Poolz

For more details:
Poolz – @PoolzOfficialCommunity
Satoshi Club – @satoshi_club
Russian – @satoshi_club_ru
Spanish – @satoshi_club_spanish

We are pleased to announce our next AMA on October 22nd 2020 at 02:00 PM UTC Time: Satoshi Club x Fuse

⚠️Click to see the hour
⚠️Total Reward pool: $500

⚠️Requirements:
👉 Join Satoshi Club Telegram group
👉 Join Fuse Telegram group

We will have the following structure:

Part 1: 100$ /6 users – We’ll select 6 questions from the community. A user can post maximum 3 questions. 6 Questions will be selected from our website – please submit your questions in the comments section of this post.

Part 2: 100/10 users – Open chat for 80 seconds. You can post Max 5 questions. Fuse Team will select 10 questions and answer them.

Part 3: 300$ – A quiz about Fuse

For more details:
Fuse – @fuseio
Satoshi Club – @satoshi_club
Russian – @satoshi_club_ru
Spanish – @satoshi_club_spanish

We are pleased to announce our next AMA on October 23rd 2020 at 02:00 PM UTC Time: Satoshi Club x Vox Finance

⚠️Click to see the hour
⚠️Total Reward pool: $1000

⚠️Requirements:
👉 Join Satoshi Club Telegram group
👉 Join Vox Finance Telegram group

We will have the following structure:

Part 1: 200$ /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: 200$/10 users – Open chat for 80 seconds. You can post Max 5 questions. Vox Finance Team will select 10 questions and answer them.

Part 3: 600$ – A quiz about Vox Finance

For more details:
Vox Finance – @VoxFinanceCommunity
Satoshi Club – @satoshi_club
Russian – @satoshi_club_ru
Spanish – @satoshi_club_spanish

This time we conducted AMA with the WOOTRADE Network, with a project providing ZERO Commissions, Deep liquidity, DeFi bridge which was on 16 October.

The total reward fund 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.

Our guest: Jack Tan – Co-Founder.

Jack is a co-founder and co-CEO of Kronos Research, one of the most successful quantitative trading firms in digital assets. The firm is over 60 strong and regularly trades $30 B+ USD per month. Jack started trading equities at age 14 and has worked at BNP Paribas and Deutsche Bank for more than a decade after graduating from Carnegie Mellon University.

PART 1, INTRODUCTION AND COMMUNITY QUESTIONS

Mary | Satoshi Club: Hello again, Satoshiclubbers! We are happy to announce our AMA session with Wootrade! @JT200 welcome to Satoshi Club😀

Jack T: Is Friday the night you get all the AMAs from Jack out of the way? D. | Satoshi Club: Haha

Mary | Satoshi Club: Hello)))😂 yes) Jack’s Day today)

Mary | Satoshi Club: How was your day, Jack?)

Jack T: Well anyways, thanks for having me. Can’t wait to share some info tonight with the Satoshi CLU₿ crew. All days are the same when you are running a startup. A lot of meetings, a lot of decisions, a lot of trading

Mary | Satoshi Club: We will bring new colors to your day)

Mary | Satoshi Club: So, Jack ,could you tell us more about yourself and how did you start with Wootrade?

Jack T: Sure, let me go back down memory lane for this one

D. | Satoshi Club: is this your first AMA for today?)

Jack T: Super short version: Im from the states, had a fascination with equities trading since I was 14, went to Carnegie Mellon U, met our fellow co-founder Mark Pimentel, worked for a decade at some big financial firms, got my head turned by digital currencies, decided to start a company with Mark called Kronos Research that applied what we did before to the cryptocurrency markets.

So with Kronos Research, we are a quant trading firm, and we do between 1 and 2 bln dollars a day in trades. You’ve definitely come acrossed our trades on the big exchanges, as we are on all of them

Mary | Satoshi Club: You are market makers)😉

Jack T: What we realized, was that we still didn’t have a great source of liquidity to trade in, and that’s an issue shared by the whole market, something every exchange, institution, and OTC desk deals with

So we decided to solve it 🤔 with Wootrade. Hah the good kinds.

Mary | Satoshi Club: Yes))) you were right) why Woo?) Does it mean something?)

D. | Satoshi Club: thank you for intro Jack! short but informative!😁  I thought about John Woo.

Mary | Satoshi Club: Let’s see)))

Jack T: Before we go too far down that road, I think a lot of people mistake us as in exchange. We aren’t trying to be the next big centralized exchange, and put guys like Binance and Huobi out of business. On the contrary, Wootrade is a layer one solution that any exchange or institution can add to their order books – we empower them, they empower their customers, its a win-win. And the best thing is… zero fees, but we can get to that later. Hah about the name. We wanted a name that was well designed for retail, and Wootrade is that sound a trader makes when they pull off a really successful trade. We’ve all felt that “WOO” moment at some point or another

Mary | Satoshi Club: Ahaha, true)))

D. | Satoshi Club:

Mary | Satoshi Club:  So, you are one layer solution both for Dexs and Cexs, right?)

Jack T: Hmm our main clients are CEXs and Institutions, but yeah OTC and Dexs and wallets and anything else that benefits from having the deepest liquidity in the world with very tight spreads and few slippage concerns.

Mary : Where is Hoo?😂

Jack T: That could be the name of some future product we have, im putting it in my notes.

Mary | Satoshi Club: Got it) DEXs are now also powerful)

Jack T: DEXs are certainly popular now but when you look at the greater picture of financial markets, you are going to need it all.

Mary | Satoshi Club:
Of course, i understand)

D. | Satoshi Club: Woohooswap.

Jack T: I need to get you under an NDA, can’t be putting all these good names out in the chat.  Serious adoption will require solutions that we see in traditional finance, things like Robinhood and WeBull where it is very much designed for retail traders of all level.

  Let’s go to the community!

D. | Satoshi Club: let’s gooo!

Q1 from bitcointalk user huyvo0126 @huyvo87 on Telegram
In an article on WOODTRADE’ the website said that DEXs and other trading platforms may source their entire order e-books from WOOTRADE at zero cost, thereby unifying liquidity across all venues. So can you explain this mechanism in detail such as users must use your API to do that or register to your platform?

Jack T: Can’t believe I’ve made them sit quiet this whole time

Mary | Satoshi Club: Don’t worry))) we will also have live part)

Jack T:  Good question. Huyvo0126 asked one we here a lot, basically, how does it work? Wootrade has two focuses, one is the B2B side that Huyvo is asking about here. When a client exchange signs up with us, they mirror their transactions into our unified order book, which is is based on a network connecting our other exchange and institutional clients (a growing list of clients as well). One of the biggest clients is our very own Kronos Research, which we talked about earlier, who bring huge volume into the order book, way more than a normal tier two exchange could possibly amass based on their own organic users.

So for a tier two exchange, you either connect to us from day one, and have mature order books, or you deal with poor liquidity and hope your users dont mind as you gradually try to scale up.

Mary | Satoshi Club: Does it affect order books which me as a trader see on the screen?)

The other side of that question is about our retail platform. our engineers are working on a retail platform that would allow anyone to access the very same liquidity that we offer our B2B clients. That will also be zero fees – they can choose to connect through the dashboard we build, or, if they are a pro trader who uses a custom dashboard, they can connect via API. That was a very long answer, Huyov gave me a tough one there

Jack T: Hopefully the next one is a bit quicker!

D. | Satoshi Club: Haha we’ll see. good answer! thanks!

Jack T: Sure, if you go over to Hoo.com, who is already announced as our client, you can see the depth they have on BTC/USDT pairs

https://hoo.com/spot/btc-usdt

Jack T: You can see the spreads are often only 1 or 2 cents away at times

Mary | Satoshi Club: They are clever😂 choose you and win)

Jack T: Hah we are aiming to empower everyone! thats what a decentralized world should look like, not a bunch of isolated liquidity islands.

What else does the community have for us?

Mary | Satoshi Club:  A lot of questions, don’t worry). You have a lot of tier two exchanges that partnered with you?

Jack T: Hah Id have to check with my COO to see what we are allowed to talk about, but yeah, there are quite a few

Mary | Satoshi Club: Thank you, second question?)

Jack T: Let’s hear it Mary!

D. | Satoshi Club: Q2 from Btt user freelikewindstill, TG username: @astalavistabby
I’ve typed 10000$ daily trading volume and your website told me that I will save 1825$. How is that? I don’t loose 20% of my money on trading?

Jack T: Ah, basically there are a few ways traders lose money and don’t know it. Well, some know it. Haha.

Mary | Satoshi Club: I was more modest😂

Jack T: Poor trade execution leads to things like wide spreads, where the gap between the buy and sell is off. You either accept that gap and accept the bid, or you place a bid and sit around waiting for it to fill. With professional traders, waiting isn’t a great solution

Mary | Satoshi Club: Yes, I know this feeling))) waiting for…

Jack T: Another way is slippage, which most people who use Uniswap are familiar with. The spread might start out tight, but since the liquidity isn’t deep enough, the price slides away from the market price to accommodate the full order. Another way is trading fees, which exchanges make a lot of their money off of. For a second-tier exchange, other than massive listing fees, trading fees and withdrawals can be the sole source of revenue. We don’t need to penalize the traders for trading, but we can talk about that later I’m sure! But those make up the bulk of where traders lose money. What’s next?

D. | Satoshi Club: Spoiler: next question about zero fees

Mary | Satoshi Club: Jack, your answers are so fast and clear)))

Jack T: Hah I knew it!

Mary | Satoshi Club: Shoot it)

Jack T: Everyone who isn’t familiar with traditional markets and quant trading struggles with this concept: how can we offer zero-fee commissions?

D. | Satoshi Club: Q3 from Telegram Username @PaoloMonte87
Your claim of zero trading fees is definitely a very strong one and probably your “cheval de bataille” in your offering. Still, more cautious people would probably have a natural question pop up in the back of their minds: how can you manage to be sustainable without applying trading fees?

Jack T: We actually just wrote a full blog post about this because we got tired of people thinking we had overlooked this issue in our business model.

https://medium.com/wootrade/how-does-wootrade-provide-traders-with-zero-fees-e49847d389c8

 I’ll summarize the most important part.

Mary | Satoshi Club: Yes, zero fees always are the question)

Jack T: In the traditional finance world, people use online brokers to trade stocks. Two of the most user-friendly brokers are WeBull and Robinhood, both of which offer zero commissions on trading. One way to monetize this model is by Payment for Order Flow (PFOF), which is the compensation a broker gets for directing orders to different parties for trade execution.
Wootrade does the same. One of Wootrade’s biggest clients is their parent company, Kronos Research. Kronos Research is one of the biggest cryptocurrency quant trading firms in the world and trades between $1 billion and $2 billion per day. They can offer significant rebates to Wootrade in exchange for providing more order flows. In this way, Wootrade earns from the big market-makers and uses those revenues to incentivize other flow providers (exchanges and traders) to route orders there.

Jack T: I’m not going to lie, I just copied and pasted, not summarized. Basically, we get big rebates from the market makers who are ecstatic to have non-toxic flows and we also charge for premium features like interest on margin trades and features like that.

Mary | Satoshi Club: Btw, as I know zero fees are for API users, right?)

Jack T: Actually the pro-trading and market-making API users will have a fee, but for our B2B clients and retail users there will be zero fees. In fact, the B2B clients can actually become a PRIME node and earn money from their users’ flows, so instead of getting charged for this, they actually can earn, how cool is that. That’s really why we’ve had so much success early on with our business development.

Mary | Satoshi Club: That’s cool)

Jack T: Thanks Mary, it’s great to see people taking an interest and learning more about how these markets function

Mary | Satoshi Club: I’m trying))) And our users also) so, the third question?)

Jack T: Hit me

D. | Satoshi Club: Q4 from Telegram user @michaelaelf
Enterprise clients holding a certain # of tokens are eligible to earn WOO tokens for every dollar of flow traded. What is the exact number? What are the conditions to become an enterprise client?

Jack T: Ah it’s like Michael read my mind! I literally just talked about that we must have a connection.

Mary | Satoshi Club: By the way, what should enterprise do to become your client?)

Jack T: I can’t disclose the exact numbers now, as we are working with a few strategic partners to get the details down 100%, but it’s going to be quite a bit. The PRIME nodes aren’t just going to be open to just anyone, they need to add value to the Woo network. And how do you add value? Basically what we call reverse liquidity mining. Whereas most platforms want you to put liquidity in, we have a whole heap of institutions with trades that need takers. So by supplying non-toxic traders on the other end, you are essentially taking liquidity off the market, which is why we call it reverse liquidity mining

I explain the toxic/non-toxic trading thing in that article I posted above if anyone isn’t sure about that.

Check out our website: https://woo.trade/

We have a B2B demo there, and a place to contact our BD team.

D. | Satoshi Club: Can you disclose approximate numbers? 😄

Jack T: Let me check with my COO. I get in trouble in these AMAs for talking too much, if he gives me the thumbs up I’ll post it here. In the meantime, let’s push ahead with the next question?

Mary | Satoshi Club: Ok. Are you working with enterprises all over the world?

Jack T: Retail traders can also sign up there to be the first to try out our new retail trading platform when we launch it 🙂

Mary | Satoshi Club: Also, are you and your team from the USA? Do you have an office?

Jack T: Good question Mary, Mark, the COO Ran, and I are all American. We have offices in Shanghai and Taipei though as well. We also have employees from Europe and all over, so it’s quite a diverse team. A good reflection of the market. 

Mary | Satoshi Club: But you registered on British Virginie Islands😀 why?😀

Jack T: After an exhaustive legal research process we determined it’s the most favorable.

Mary | Satoshi Club: Yes, I see a lot of companies prefer this way😀 

Jack T: Yeah, most blockchain companies are usually in places with progressive regulations such as Singapore, HK, Malta, BVI, etc.

 The good news, I can talk about the nodes.

Mary | Satoshi Club: Wow) so, tell us what you can)

Jack T: Right now its set at around 5m tokens, which will likely increase as more clients join the network, reflecting the increase in the value of the network

Mary | Satoshi Club: Good numbers😀But I am sure we will see more😀 Next question?

Jack T: Sure, why not!

D. | Satoshi Club: Ok, we have another 2 questions in this part, one about “Open governance on Wootrade” other “Cloud Exchange”. which of these you prefer next? 😁

Jack T: Governance?

D. | Satoshi Club:
Q5 from Telegram Username @eraybukucu
Can you explain more about Open governance on Wootrade, Will the voting power be determined by the duration of Staking or the amount of tokens purchased to vote? Also, how do you aim to encourage people to participate in the governance & decision-making process, are there incentives?

Jack T: At the moment we aren’t very decentralized, because we believe that our product team and management need to be able to implement fast updates and strategic decisions. We don’t subscribe to the belief that every decision needs to be put before a crowd, especially for a young company that is just starting out. However, as we mature and develop, decentralized governance will grow in importance. We will reward holders who have held a certain amount of time so that users cant just buy a bunch of tokens on the open market and start influencing decisions. At the core, there is a sustainable and well-designed governance plan

Mary | Satoshi Club:
I want to ask you one simple question) how can I get $WOO?)

Jack T: Great question Mary, you are my favorite question asker. We have a public sale coming up at the end of the month. It’s going to be the first time the WOO token is available on the open markets

Mary | Satoshi Club: I like public sales)

Jack T: So because we have such a tight network of exchange clients, getting listed on a number of exchanges won’t be a problem. We will also list on some DEXes as well. The WOO token will be an ERC-20, but it hasn’t been minted yet, so don’t go falling for some back alley DEX Swap.

D. | Satoshi Club: What will be the total supply of token?

Jack T: Total supply is 3 billion, I got all this info from over on https://woo.trade/token

The mechanism should be fairly straightforward, we won’t make anyone send in blood samples for tokens.

Mary | Satoshi Club: Do you have dates and can you tell something how it will happen? Mechanism of public sale?

Jack T: Hmm I don’t have the exact date (announcement schedule depends on our partners) but it should be the last week if not the last days of the month.

 I’ve seen a few scammers pop up already, trying to cash in on the buzz we’ve worked painstakingly to foster

Mary | Satoshi Club: Their number will grow, it’s sad.

Jack T: What’s next?

D. | Satoshi Club: The last question from this part! ready?

Jack T: Doooo it

D. | Satoshi Club: Q6 from Telegram Username @AmirJosh
Wootrade “Cloud Exchange” solution enables new exchanges to go live in 1 hour or less. Are these exchanges still connected and manage by Wootrade, will you explain how it works?

Jack T: Well this goes back to what we discussed with the first question, where our B2B exchange clients can tap into our liquidity. We play no part in managing the exchange, they just mirror their order books with our Woo network. The solution is really easy to implement, and the appeal is that a brand new exchange could launch and have fully-mature order books from day one.

Mary | Satoshi Club: Simple and useful for both sides solution 😀

Jack T: Then they can focus on things like user acquisition, security, and marketing, without having to hire third-party market makers to fill out their books.

Mary | Satoshi Club: Does it cost something for exchange?

Jack T: Nope, like we said earlier, we get our rebates from the institutional side, free for the exchanges, and if they become a PRIME node in our network, they can even earn rewards, which they can choose to pocket, or as we prefer, pass on back to the users.

Mary | Satoshi Club: I am thinking about my own exchange now😂 Thank you)))

Jack T: That’s ultimately the decision of the exchange, but we believe it will be a race to the bottom, as soon as one exchange offers zero-fees to users or even rebates, the others will feel obliged to comply.

PART 2, TELEGRAM COMMUNITY LIVE QUESTIONS.

In this part, the Satoshi Club opens a chat for 80 seconds, participants can insert up to 3 questions. After the end of the time, our guests choose the top 10 questions.

Jack T: Lets do this, I’m ready, release the floodgates

Mary | Satoshi Club: Let’s go 🚀

Q1 from Telegram User @Giniwhite

Do you have plans to educate your community in order to create traders pro? What tools does it offer to new traders?

Jack T: Cosmo, great question. We are going to have a lot of professional tools in our GUI but we realize how important it is to be user-friendly in our approach. There will definitely be content created to help users learn everything from the basics all the way up to advanced features.

Q2 from Telegram User @Beterror203

Wootrade has futures included or coming soon.

Jack T: Easy question, easy answer. Futures are on the way. We plan to have everything, you can’t “Disrupt markets” by just offering one thing

Q3 from Telegram User @CElllIFE

Can Wootrade help provide liquidity for DeFi?

Jack T: Yep, we are working with some partners now to explore the exact model. But DeFi is a segment of the market that at times suffers most from a lack of liquidity. Those platforms would benefit a lot 🙂

Q4 from Telegram User @huydo

What are their incentives for both market-makers and exchanges to join Wootrade platform in the short and long term?

Jack T: I think the answer to both is really deep liquidity. Market-makers need liquidity from Wootrade to work elsewhere, exchanges need to offer their users the best possible trading experience. The answer to both is liquidity. Long-term, the WOO token will incentivize exchanges to stay. Why go somewhere else and pay for liquidity when you can reverse liquidity mine and earn tokens for your users’ flows?

Q5 from Telegram User @Poltybaz

To create the $woo financial ecosystem, will there be a buyback or burning of a token supply?🤔🤔🤔

Jack T: Sure. As much as anyone in this space, we understand how markets function. We will have a BNB style buyback where revenues from our platform buy tokens on the secondhand market. That will help even out the market

Q6 from Telegram User @BlancaSdF

WOO is praised by HOO and MXC. Does it mean that they would eventually use the platform?

Jack T: As you can see from our website, both of those exchanges left some kind words for us. They are already using Wootrade. Unlike other projects that might start a public sale with just a bright idea, a logo and a white paper; we did it backward. We built the platform and onboarded clients first, then made plans to launch the token of course not to make fun of other platforms that are bootstrapping their way through, we had the added advantage of incubating ourselves with Kronos Research.

Q7 from Telegram User @Ramadhan1895

What are the major milestones achieved by $WOO so far?

Jack T: Hmm, well we went from having only a few thousand dollars in volume when Wootrade first launched to having millions per day now, we are quite proud of that first milestone.

We also just closed a $10 million dollar fundraising round headlined by names like Dragonfly capital and Fenbushi Capital. We thought that was a great testament to how successful we’ve been in the past with Kronos Research and how much these institutions believe in the value of something like Wootrade.

Q8 from Telegram Unknown User 

The question about the dark pool.

Jack T: The “dark” aspect of it is that users have the option to hide their orders from the public markets. If you want to buy or sell a large amount of anything, you don’t want that info to leak since it could move the markets and give you worse off prices. Market-makers in a dark pool are training their algorithms to handle flows correctly from particular clients. Citadel might be super well-trained to take flows from Robinhood and are able to offer prices BETTER than what they can get on lit exchanges AND also provide a rebate to Robinhood. Trading through a dark pool, the client is able to achieve superior execution AND a rebate. An exchange like Huobi isn’t going to be able to do that just by hiding the orders.

Q9 from Telegram User @DiegoRME

What are the main uses that stand out from the competitors of your $WOO token? Can I cover transaction fees with $WOO?

Jack T: Haha I don’t think we have any competitors at the moment. From a B2B model, our competitors can be traditional market makers. But everyone knows that market makers can be inconsistent, or even malicious, manipulating markets for their own benefit, or to make the exchange have inflated volumes. Market makers are also expensive. We provide our B2B clients a better level of service, without the risk, for free.

Q10 from Telegram User @KeymerS

I understand the benefits in B2B exchange operations, but to derivatives and futures, what news will WOO bring? since I really think that liquidity is not so necessary in this case, right?

Jack T: Liquidity is necessary for all traded products! Fees also matter for everyone – why would anyone elect to pay fees when they should keep all they earn in the first place?

Part 3 – Quiz.

As usual, for the third part, Satoshi Club Team asked the chat 4 questions about the project. A link to a Quiz form was sent into the chat. Participants had 10 minutes to answer. 300$ was distributed between the winners.

For more information and future AMAs, join our Social Media channels:

English Telegram group: https://t.me/Satoshi_club

Russian Telegram group: https://t.me/satoshi_club_ru

Spanish Telegram group: https://t.me/satoshi_club_spanish

Telegram Channel: https://t.me/satoshi_club_channel

Website: https://esatoshi.club/

Twitter: https://twitter.com/esatoshiclub 

Our Partner:

Wootrade Community: https://t.me/wootrade

We are pleased to announce our next AMA on October 20th 2020 at 02:00 PM UTC Time: Satoshi Club x Hulk.Finance

⚠️Click to see the hour
⚠️Total Reward pool: $800

⚠️Requirements:
👉 Join Satoshi Club Telegram group
👉 Join Hulk.Finance Telegram group

We will have the following structure:

Part 1: 150$ /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: 150$/10 users – Open chat for 80 seconds. You can post Max 5 questions. Hulk.Finance Team will select 10 questions and answer them.

Part 3: 500$ – A quiz about Hulk.Finance

For more details:
Hulk.Finance – @Hulkfinance
Satoshi Club – @satoshi_club
Russian – @satoshi_club_ru
Spanish – @satoshi_club_spanish

Today we would like to tell you about the AMA session with our friends from Citrix DeFi. The AMA took place on October 15 and our guests @Deborah_CDFX @johnrichards_cdfx

PART 1, INTRODUCTION AND COMMUNITY QUESTIONS.

Mary | Satoshi Club: Hello again😉, Satoshi Club! We are happy to announce our AMA session with Citrix DeFi! Welcome to Satoshi Club😀

D. | Satoshi Club: hello Satoshi club! and @Deborah_CDFX @johnrichards_cdfx hello guys!

Mary | Satoshi Club: @Deborah_CDFX @johnrichards_cdfx you are welcome 😃

Deboray Jay | CitrixDeFi: Hello

Mary | Satoshi Club: Hi, how are you)

John Richards | CDFX: Hello thank u 😎

Deboray Jay | CitrixDeFi: Good, nice to be here.

Mary | Satoshi Club: So, could you, please, introduce yourself and how did you start with Citrix DeFi?

Deboray Jay | CitrixDeFi: I am Deboray Jay CTO of CitrixDeFi project and I am in the crypto space since 2014.
I have worked with several blockchain-based projects in recent years and at present, I am working with CDFX . My main area of work is a development that’s the short intro about me.

Deboray Jay | CitrixDeFi:
CitrixDeFi Protocol Social

Media Links:

Website link : CitrixDeFi.com

White paper :http://citrixdefi.com/CitrixDefi__WhitePaper.pdf

Facebook : https://www.facebook.com/Citrix-DeFi-114365207074003/?modal=admin_todo_tour

Twitter : https://twitter.com/citrixdefi

Instagram : https://www.instagram.com/citrixdefi/

Medium : https://medium.com/@citrixdefi

Reddit : https://www.reddit.com/user/citrixdefi

Telegram : https://t.me/citrixdefi_chat

Telegram Announcement :
https://t.me/citrixdefi_announcement

PreSale link :
https://citrixdefi.com/cdfx_presale/

Staking Dapp:
https://citrixdefi.com/citrixDeFi.stake/

Whitelist :
https://docs.google.com/forms/d/e/1FAIpQLSctSdzI3Mgt3gc9EkS1G3ELnRMJyYcN8171q789ReYsr7Rd_Q/viewform?vc=0&c=0&w=1&flr=0&gxids=7628

Deboray Jay | CitrixDeFi: These are CitrixDeFi Protocol links

Mary | Satoshi Club: Thank you) nice intro) why you choose to join Citrix DeFi?

John Richards | CDFX: Am CEO CitrixDefi is a Full-stack developer and blockchain engineer.
6 Years AWS expert,
6 Years of trading experience in crypto & Entrepreneur

Mary | Satoshi Club: Oh, good experience in all fields you need to build great DeFi)

Deboray Jay | CitrixDeFi: The idea of CDFX comes when we saw traders and investor loses their money time and again due to various factors such as non-regulatory nature of Crypto and the fud comes with it. The huge volatility in the market and various nonperforming crypto projects. So CDFX is a solution to all this and makes the best income for its investors.

D. | Satoshi Club: Great! looks like you guys experienced in crypto.

John Richards | CDFX:
yeah 😎 & blockchain technology is actually our passion👨‍💻

Mary | Satoshi Club: Thank you for intros) And are you ready for the questions from our community?)

Deboray Jay | CitrixDeFi:
Yes.. even I invested in more than 25 Blockchain projects before Coming to CitrixDeFi Protocol.

Mary | Satoshi Club: Oh, 25 is a good number)))

Deboray Jay | CitrixDeF: Yes..hope it will be a fun and learning session.

Mary | Satoshi Club: Sure👍

D. | Satoshi Club: let’s goooo! Q1 from bitcointalk user pedronino @xaviermaya on Telegram
Citrix is another project which offers lending and borrowing. Why would I use your platform instead of Celsius for example? Also, you have added inter-platform liquidity. Does it mean that I can put liquidity on many platforms just through your app?

Deboray Jay | CitrixDeFi: Yes. CitrixDeFi, a decentralized protocol for peer-to-peer and inter-platform lending and liquidity is an open-source Ethereum based protocol. It is built to allow lending and pooling of digital assets. It comprises inter lending, and inter liquidity protocol.

ETH to ETH- The fees between ETH swap, lending, and providing liquidity depends on the inter- DeFi charges and the Citrix protocol. The Citrix protocol charges 0.1% for every ETH lending, liquidity, and swap fees on the platform. on the other hand, it charges 0.05% for inter-protocol services.
ETH to ERC20
ERC20 to ERC20
ERC20 to other digital assets
Digital assets to digital assets.

Deboray Jay | CitrixDeFi:
Next, please.

Mary | Satoshi Club:
Ok, @Cool_as_Ice )

D. | Satoshi Club:
Q2 from bitcointalk user let098765 @jobel4 on Telegram
Can you explain the difference between collateralized lending protocol from the uncollateralized lending protocol? How will Citrix Defi consider differently this kind of lending protocol? Is this available for everyone?

Deboray Jay | CitrixDeFi: Lending on CitrixDeFi. 🧑‍💼
The Citrix DeFi lending protocol allows collateralized and uncollateralized lending of digital assets enabled on the platform. However, the lending protocol starts from collateralized lending before the non-collateralized lending at a later Citrix DApp version. 🏋️‍♀️

John Richards | CDFX: 😎Yes the difference With a secured loan, the bank will take possession of the title of the assets that are being used as collateral for the loan. This may include a home, car, investments, or other assets that can be converted to cash. With an unsecured loan, there is no collateral provided for the loan.👨‍💻

Mary | Satoshi Club: So, but is this safe? For Citrix?

Deboray Jay | CitrixDeFi: Of course, it’s Safe. We launch with full security features.

John Richards | CDFX: Yes it’s Safe ☺️

Mary | Satoshi Club: But from the beginning, you will give collateralized loans, yes?

Deboray Jay | CitrixDeFi: Yes.

D. | Satoshi Club: like what features? )

John Richards | CDFX: CitrixDeFi is planned and envisioned to be one of the safest platforms which has the below security protocols in place:
Web application security (OWASP Top 10)
Internal penetration testing, risk and vulnerability management
The secure data center which follows – ISO 27001, SOC1 and SOC2/ SSAE 16/ ISAE 3402/ PCI Level
1/ Sarbanes – Olexy (SOX), FISMA Moderate.
Security filters and Web server application firewall protocols
Isolated Database Environment
EV Certificate SSL/HTTPS + HSTS
Strong Password protection with mandatory 2-Factor Authentication (either SMS or Google
Authenticator as per user choice)
Usage of modern hashes (Argon2i, bcrypt, scrypt, or PBKPF2) to store system Keys and passcodes
Data encryption using AES-256 encryption

D. | Satoshi Club: Good. thanks for clarifying!

Mary | Satoshi Club: Does anyone made your smart-contracts audit? To be fully sure it’s secure?

Deboray Jay | CitrixDeFi: Yes.. we will officially with Audit report.

Mary | Satoshi Club: Is it already published?)

Deboray Jay | CitrixDeFi: No yet to be.

John Richards | CDFX: Asap😎

Mary | Satoshi Club: Ok, can we move to the next question?

D. | Satoshi Club: Q3 from Telegram Username @HurricaneLad
Strategically looking at your website, I discovered that your ROADMAP ends in quarter-4,2020. Are there no further developments next year and onwards? How do you plan to Meetup your deadlines amidst this pandemic?

Deboray Jay | CitrixDeFi: The long term plan is to make consistent money for users of the project by adapting to different strategies as need and to be dynamic all the time.
I did not found Covid impact on the crypto market

John Richards | CDFX: 😎that is actually the initial road map for 2020 in a few days we will announce new once 🔜

Mary | Satoshi Club:  Nice) but can you share with us may be one plan for the future?)

Deboray Jay | CitrixDeFi: We planned for a decentralized trading app with zero percentage brokerage.

D. | Satoshi Club: Nice little hint, thanks

Mary | Satoshi Club: Great. Does zero percentage brokerage mean zero fees?

John Richards | CDFX: We are working on it has some challenges but we will launch it anyway 😁💪

D. | Satoshi Club: Can a pandemic be a problem for crypto? 👀 I rather doubt. 

Mary | Satoshi Club: Just in case we will die all)

John Richards | CDFX: Pandemic.. not exactly but it affected all markets not only crypto many other platforms also but now it almost recovered it’ll be huge incoming futures😎😊

Mary | Satoshi Club: Thank you for your answers 😃 sure, crypto is one of the best places to stay safe during a pandemic). Hope to see your roadmap soon👍 so, next question?)

Deboray Jay | CitrixDeFi: Next, please.

D. | Satoshi Club: Ok, next question!

Q4 from Telegram Username @yiselen
I understand that CitrixDefi has incorporated PoS into its daily use in multiple ways. What are these multiple ways?

Deboray Jay | CitrixDeF: The main objectives of CitrixDeFi Protocol
1) Crypto and trading space is a bit complicated for many new users. They come with a lot of hopes to earn money using the immense volatility of the crypto market. But most of them lose money due to mismanagement of funds and uncontrollable emotions. So CDFX solves this problem and makes the money to investors using their own money.
2) The second main objective is to make people free from the stress of the market and watching their screens all day. They don’t have to do anything. Earn Easy.

Citrixdefi solutions include the Defi lending of digital assets, providing digital assets liquidity, and Inter DeFi platform lending.

Mary | Satoshi Club: There are more emotional things here. Okay, are you conducting a pre-sale now?

Deboray Jay | CitrixDeFi: [In reply to Mary | Satoshi Club]
Yes. Please find our official announcement.

😎🤑 Dear Community We are excited to announce our CitrixDeFi presale on our OWN CDFX PreSale Dapp.📢📢

🗒 Date :- October 16th 2020

⏱Time :- 5 PM UTC

PreSale Platform :- CitrixDeFi Protocol (CDFX)

🔶🔶Presale DAPP Link :-
https://citrixdefi.com/cdfx_presale/

🔶🔶
CDFX Presale Round-1 Details

HardCap- 250 ETH

0-100 ETH : 1 ETH =2700 CDFX
🤑(50%discount on Uniswap listing price)

100-250 ETH :1ETH =2500 CDFX
🤑 (40%discount on Uniswap listing price).

PreSale initial base price : 1ETH = 2700 CDFX tokens

Uniswap Initial liquidity:
250 ETH & 600,000 CDFX

Uniswap Listing Price: 1ETH = 1800 CDFX ( 50% Bump up on initial presale price )

Liquidity will be locked via Unicrypt for a year.
We capped the max contribution to 50 ETH and minimum is 0.01 ETH.

John Richards | CDFX: And do not miss the chance in Pre-sale peeps 😎

D. | Satoshi Club: how long presale will be last?

John Richards | CDFX: Max 48hrs 😎

Mary | Satoshi Club: What do you plan to do with funds collected during this pre-sale)? I see, you plan to lock it)

Deboray Jay | CitrixDeFi: 50 percent of funds we will use for Uniswap liquidity and 15 percentage for buyback CDFX tokens from market to increase the demand and 35% per marketing and development of CitrixDeFi Protocol. Yes, liquidity will be locked via unicrypt for a year.

Mary | Satoshi Club: Great, do your community has guaranteed that you will do what you promised? Some projects use the third part to ensure their users that liquidity will be locked. You are using Unicrypt platform, yes?

Deboray Jay | CitrixDeFi: 
Yes.. via Unicrypt..
Total of 65% raised funds will use immediately for increasing CDFX Token price.

Mary | Satoshi Club: But it’s not guaranteed, as I understand, yes, they even have such warning

Deboray Jay | CitrixDeFi: Ofcourse but we will share locked details to our Community…, everyone can verify …

John Richards | CDFX: It may be an issue with some project but we working in many ways to make user funds safe with a different more secured platform 👨‍🔧

Mary | Satoshi Club: Oh, great, sure, you are) thank you. Next question?

D. | Satoshi Club: Q5 from Telegram Username @Winterkom
Checking the Citrix Medium, I found that it is suspended, can you explain why? Is there anything that makes us doubt the veracity of Citrix?

D. | Satoshi Club: True, true. I faced it today👀

John Richards | CDFX: You may know about that we actually posted many updates in there due to that reason it but it’ll be up soon 😎 We also raised tt for this. This is our announcement channel u can all medium updates here: https://t.me/citrixdefi_announcement

Mary | Satoshi Club: Yes, I saw your announcements on Twitter.

Deboray Jay | CitrixDeFi: Hey due to the heavy load of news happened..just check in our Announcement Channel.

Mary | Satoshi Club: What is this issue about?

John Richards | CDFX: It’ll be up soon in a few hrs 😁

Mary | Satoshi Club: Great) hope to see all those articles)

Mary | Satoshi Club: Btw, do you have github?

John Richards | CDFX: Maybe next week will update with source code 😉

D. | Satoshi Club: Sounds good 👍

Mary | Satoshi Club: Thank you. Next question?

John Richards | CDFX: Yeah

Deboray Jay | CitrixDeFi: Ok. Please go ahead.

D. | Satoshi Club: Q6 from Telegram Username @Jonahapagu
How does CITRIX inter protocol lending work, can this work with any blockchains or only those integrated to your platform, will transactions through this be less expensive and what will be the transactions fees Token.

Deboray Jay | CitrixDeFi: Yes, Citrix operates varieties of DeFi services, there are varieties of fees on the Citrix platform. The fees s as follows;
ETH to ETH- The fees between ETH swap, lending, and providing liquidity depends on the inter- DeFi charges and the Citrix protocol. The Citrix protocol charges 0.1% for every ETH lending, liquidity, and swap fees on the platform. on the other hand, it charges 0.05% for inter-protocol services.
ETH to ERC20
ERC20 to ERC20
ERC20 to other digital assets
Digital assets to the digital assets.

Mary | Satoshi Club: And what about other blockchains? Do you plan cross-chain integrations?

Deboray Jay | CitrixDeFi: Yes, ERC 20 to others.

D. | Satoshi Club: What will be your next blockchain for integration? already selected?

John Richards | CDFX: Own blockchain 😎 soon.

Mary | Satoshi Club: Thank you, guys, for your answers 😃 Are you ready for the live questions from our community?

Deboray Jay | CitrixDeFi: Yes, please go ahead.

PART 2, TELEGRAM COMMUNITY LIVE QUESTIONS

The chat was open for 80 seconds; a lot of questions were posted by Satoshi Club community. Our guests chose some of them.

Q1 from Telegram User @apocan99 

⚡️ Citrix is using Ethereum infrastructure which recently has serious troubles like gas prices and speed of transfers. SoIready moved to other blockchains. Do you have such a plan for the future? If not, what measures have you taken in order to facilitate these?

Deboray Jay | CitrixDeFi: CDFX is a fantastic project to save money for investors. When we do a transaction of a small amount we pay the fee and when we do with a large amount we pay the same fee. CDFX pool ups the money and make profits for its users. It is that simple.
Even we will moving to our own blockchain by end of 2020.

Q2 from Telegram User @Spott

Can I stake $CITRIXDEFI token?
What those Staking structures?

John Richards | CDFX: 🧑🏻‍💻CDFX Staking dapp will be live on October end and we are allocated 25% of CDFX tokens for Rewards.
The estimated annual yield will be 100% of the amount staked. For instance, if you stake 100 tokens for 365days you will get 100 tokens as rewards in the end.

https://citrixdefi.com/citrixDeFi.stake/

Q3 from Telegram User @huydo

How many min/max ETH could I join your Presales?

John Richards | CDFX: Find all the details below 😁

😎🤑 Dear Community We are excited to announce our CitrixDeFi presale on our OWN CDFX PreSale Dapp.📢📢

🗒 Date :- October 16th 2020

⏱Time :- 5 PM UTC

PreSale Platform :- CitrixDeFi Protocol (CDFX)

🔶🔶Presale DAPP Link :-
https://citrixdefi.com/cdfx_presale/

🔶🔶
CDFX Presale Round-1 Details

HardCap- 250 ETH

0-100 ETH : 1 ETH =2700 CDFX
🤑(50%discount on Uniswap listing price)

100-250 ETH :1ETH =2500 CDFX
🤑 (40%discount on Uniswap listing price).

PreSale initial base price : 1ETH = 2700 CDFX tokens

Uniswap Initial liquidity:
250 ETH & 600,000 CDFX

Uniswap Listing Price: 1ETH = 1800 CDFX ( 50% Bump up on initial presale price )

Liquidity will be locked via Unicrypt for a year.
We capped the max contribution to 50 ETH and the minimum is 0.01 ETH.

Deboray Jay | CitrixDeFi: We capped the max contribution to 50 ETH for presale and also minimum is 0.01 ETH, so its a win-win deal for small and big investors

preSale link: https://citrixdefi.com/cdfx_presale/

Q4 from Telegram User @DiegoRME

What are the most notable benefits of buying your $CDFX token? Where can I buy it? What uses does it have?

Deboray Jay | CitrixDeFi: CitrixDeFi provides a wide range of solutions to traders, investors, and digital asset holders. Our platform offers three core solutions to participants. Citrix solutions include the Defi lending of digital assets, providing digital assets liquidity, and Inter DeFi platform lending.

Presale date : Oct 16th 5pm UTC
preSale link : https://citrixdefi.com/cdfx_presale/

PreSale Round 1: HardCap- 250 ETH
0-100 ETH : 1 ETH =2700 CDFX
100-250 ETH :1ETH =2500 CDFX

Q5 from Telegram User @slimerr

What aspects of DeFi require privacy? As CitrixDeFi pertains to privacy first approach.

John Richards | CDFX: Yes. CitrixDeFi will be on MainNet by December 2020.
CitrixDeFi is planned and envisioned to be one of the safest platforms which has the below security protocols in place:
Web application security (OWASP Top 10)
Internal penetration testing, risk and vulnerability management
Most secure data centre which follows – ISO 27001, SOC1 and SOC2/ SSAE 16/ ISAE 3402/ PCI Level
1/ Sarbanes – Olexy (SOX), FISMA Moderate.
Security filters and Web server application firewall protocols
Isolated Database Environment
EV Certificate SSL/HTTPS + HSTS
Strong Password protection with mandatory 2-Factor Authentication (either SMS or Google
Authenticator as per user choice)
Usage of modern hashes (Argon2i, bcrypt, scrypt or PBKPF2) to store system Keys and passcodes
Data encryption using AES-256 encryption.

Q6 from Telegram User @BlancaSdF

What are your current status and action plan regarding future listings on both DEX and CEX?

Deboray Jay | CitrixDeFi: Once PreSale is finished we can list immediately on UNISWAP and Initial liquidity is
250 ETH & 600,000 CDFX
Uniswap Listing Price: 1ETH = 1800 CDFX
( 50% Bump up on initial presale price ).
we will list on Kucoin, Hotbit, Probit and Gate.io Exchanges in October and we have many more exchanges in pipeline, mainly we targetted Top 20 Exchanges by December 2020.

Q7 from Telegram User @Alika061

After what #CitrixDeFi has done for the finished sale what else is it doing for the future and the community?

Deboray Jay | CitrixDeFi: Once our preSale is finished, we will start trading on Uniswap with a 50% bump up the price.
We launch Staking dap and APY.

Q8 from Telegram User @Winterkom

– What solution does CitrixDeFi bring compared to the many liquidity aggregators that exist? Do you have something special? What is the most important?

John Richards | CDFX: 👨‍💻CitrixDeFi, a decentralized protocol for peer-to-peer and inter-platform lending and liquidity is an open-source Ethereum based protocol. It is built to allow lending and pooling of digital assets. It comprises inter lending, and inter liquidity protocol.
To create a lending and liquidity interface between integrating platforms, it operates an easy to use SDK and various smart contracts. The SDK is customizable to allow users to create lending DApps and pools. On the other hand, the smart contract varies across users: liquidity creators, vaults, and proxy contracts.
The creator of a smart contract allows creators to add or create lending and/or liquidity pools. Vault contract defines the terms of pooling or storing funds.

Q9 from Telegram User @kun4321

What do you think about the opportunity to cooperate with Binance?

John Richards | CDFX: 😎 We actually have some big exchanges partnerships will announce them asap Binance may be on the list 😉 waiting for a big announcement.

Mary | Satoshi Club: Thank you for your answers 😃 and now we will have the Quiz part. @ciupidos the stage is yours 👍

D. | Satoshi Club: Nice! thanks for the answers guys.

Part 3 – Quiz

As usual, for the third part, Satoshi Club Team asked the chat 4 questions about the project. A link to a Quiz form was sent into the chat. Participants had 10 minutes to answer. 300$ was distributed between the winners.

AMA Partner was  CitrixDeFi  Protocol:

Social Media Links:

Website link : CitrixDeFi.com

White paper :http://citrixdefi.com/CitrixDefi__WhitePaper.pdf

Facebook : https://www.facebook.com/Citrix-DeFi-114365207074003/?modal=admin_todo_tour

Twitter : https://twitter.com/citrixdefi

Instagram : https://www.instagram.com/citrixdefi/

Medium : https://medium.com/@citrixdefi

Reddit : https://www.reddit.com/user/citrixdefi

Telegram : https://t.me/citrixdefi_chat

Telegram Announcement :
https://t.me/citrixdefi_announcement

PreSale link :
https://citrixdefi.com/cdfx_presale/

Staking Dapp:
https://citrixdefi.com/citrixDeFi.stake/

Whitelist :
https://docs.google.com/forms/d/e/1FAIpQLSctSdzI3Mgt3gc9EkS1G3ELnRMJyYcN8171q789ReYsr7Rd_Q/viewform?vc=0&c=0&w=1&flr=0&gxids=7628

For more information and future AMAs, join our Social Media channels:

English Telegram group: https://t.me/Satoshi_club

Russian Telegram group: https://t.me/satoshi_club_ru

Spanish Telegram group: https://t.me/satoshi_club_spanish

Telegram Channel: https://t.me/satoshi_club_channel

Website: https://esatoshi.club/

Twitter: https://twitter.com/esatoshiclub 

October has been a very special month for the SATOSHI CLUB community, we have had a great AMA marathon, we hope you are enjoying each of the exciting projects that we have invited to our group on telegram. Today we would like to tell you about the AMA session with our friends from CyberVein. The AMA took place on October 16 and our guests was Jack Ge (Global Ambassador of CyberVein).

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.

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PART 1, INTRODUCTION AND COMMUNITY QUESTIONS

Mary | Satoshi Club: Hello, Satoshi Club! We are happy to announce our AMA session with Cyber Vein! welcome to Satoshi Club.

Serg | Satoshi Club: @sephirothg Welcome. We are glad to finally have you here.

Jack Ge: I‘m doing pretty well! Thanks:)

Mary | Satoshi Club: Please, tell us about yourself and how did you start with Cyber Vein?

Jack Ge: Alright! I’m the global ambassador of CyberVein. Before I get into the topic of today, let me just introduce myself, we’ll start with some numbers. I am 25 years old, graduated from Imperial College London with a mechanical engineering degree in 2016. It has been 6 years since I first came in contact with blockchain, but only 3 years that I throw myself in the industry.

D. | Satoshi Club: Awesome! thanks for introduction! ready for the questions Jack? we have 6 in this part and 10 in the second! 😄

Jack Ge: Let’s gooooo!

Q1 from bitcointalk user aditya117 

Recently CyberVein completed the 4th KCS lecture in Korea. How Cybervein progressed in these lectures? What is the main motive of Cybervein to complete these lectures?

Jack Ge: That’s really good question! This is one of our biggest event in Korea! CyberVein, as a technical consultant for new smart city solutions, focused on case sharing and results demonstration of the core technologies of CVT DAVE’s four core solutions: “PISR database, DAG storage chain, distributed computing power integration, and federated learning”, providing training and guidance for Korean government and enterprises in the intelligent transformation and upgrading.

At same time! It will provide targeted smart city solutions based on the priority development level of the government and enterprises present. CyberVein also took this opportunity to fully demonstrate that DAVE can build smart city system resilience through the “digital comes first” layout of efficient infrastructure and connectivity capabilities, providing diversified customized services, so that more ecosystems can choose more diverse models to participate in the joint construction and governance of smart cities.

Mary | Satoshi Club: Do you plan events like this in another countries? Or just for Korea? I think it’s amazing initiative👍

Jack Ge: So far, we have Grace which is CyberVein head of korea to support us expand the Korea market. And yes, because of the pandemic our moves are limited.

Q2 from Telegram Username @ovkneze_big

Several years ago I worked at the company that was implementing a smart city in my country. I am very interested to know about your successes in this direction.

Jack Ge: First we have cooperation with the Dubai government and then Hainan government in China to build smart city. Because Dubai is the first time it has built a “smart city” with an overseas government and provided blockchain database support for the Dubai World Expo. And we formally joined the Dubai 2025 smart city construction plan in early 2020, and provided blockchain database support for the Dubai World Expo. Cybervein also provides a data market for Dubai’s smart city, and uses federal learning to developed and sell data products. The goal is to bring Dubai’s economic benefits.

And also… another case is us with ainan government has signed a memo with Cybervein which it has become one of 12 firms participating in the construction of China’s Hainan Wenchang International Aerospace City. CyberVein will work alongside major Chinese firms, including Fortune 500 company Huawei, and will leverage its blockchain, artificial intelligence and big data technologies to support the development of the city’s Smart Brain Planning and Design Institute. The Smart Brain is its primary project, a ‘data-driven governance system’ based on the firm’s proprietary technology that will process real-time data to ‘organize urban public resources.’ However, few details regarding how blockchain will be employed in developing the governance model have been made public.

Mary | Satoshi Club: Great achievements, Dubai World Expo 2020 already started?

Jack Ge: Well, it was the plan, however due to the pandemic, the Expo has been suspended. 🙁

Q3 from Telegram user @kozmal

Proof of contribution means that I get rewards for providing disk space the same as mining with gpu. What if I own a server with big amount of space for data? Can I provide it all and own the majority and thus controlling the blockchain?

Jack Ge: Yes, similar situation as Pow in this sense. The participant who own the majority part have bigger power to influences the blockchain.

D. | Satoshi Club: Btw Proof of Contribution it’s a new DAG technology, made by your team?

Jack Ge: Not really, they have no correlation in between.

Q4 from Telegram Username @esmyeel

One of your product is data monetization, where cybervein will marketplaces for data. So my question is that what type of data can be monetized, can a student, teacher or educational institution monetize their research data?

Jack Ge: That’s secret! 😉 This is actually related to our new product that will release on Oct.26. you can follow us on twitter and stay tuned!

Q5 from bitcointalk user bitmartbounty

According to documents, MEDICAL ERRORS ACCOUNT for more medical deaths than even disease itself, how does cybervein address these issues of errors in the medical field?

Jack Ge: Well… Some of the data is mock data. The MEDICAL APP is only a demo for display the main function.

Mary | Satoshi Club: But is Medical app build to make mistakes or errors less possible?

Jack Ge: I see, our mock data design is not rigorous enough, we will fix it.

Q6 from Telegram Username @beratToker

It says in your website that only when ownership is confirmed, data use rights and privacy protection can be exercised fairly. To confirm ownership personal data is required, wouldn’t that lead to a risk in privacy? in case Cyberveins would need that data stored, how would it be completely secure?

Jack Ge: Confirming ownership is the same as confirming an account with a private key, without revealing personal privacy.

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PART 2, TELEGRAM COMMUNITY LIVE QUESTIONS

The chat was open for 80 seconds; a lot of questions were posted by Satoshi Club community. Our guest chose some of them.

Q1 from Telegram User @Termuxnih

Your project is from Korea. How do you promote your project if not everyone can speak English? do you have a local group or a specific place for it?

Jack Ge: Our project is not from Korea, it is from Singapore. We have a team in Korea who can speak the local language, and our co-founder, Grace Ding, is in charge of everything there. Including community management, BD, events and conferences. We do have many Kakao groups to help the communities to be kept updated with all our work.

Q2 from Telegram User @Jmagsss

How CyberVein use Directed Acyclic Graph or DAG technology and benefit from it?

Jack Ge: We use DAG as an extra security layer and a backup measure for PISR database. The states of the PISR database will be put into the DAG storage chain, they are shared and stored in separate nodes. Thus providing the extra security.

Q3 from Telegram User @Joseunda

What is the plan for CyberVein with the NFT?

Jack Ge: Check us on twitter at Oct.26th and you will know! 😉

Q4 from Telegram User @surendra040

Kindly explain your roadmap 2020.

Jack Ge: Our road map for 2020 is to refine our solutions. DAG storage is under development and should be ready to launch by 1sr quarter 2021. We are continuously researching and improving our federated learning solution, which happens at our lab in Zhejiang University and by 1st quarter 2021, we will be launching our main net and wallet!

Q5 from Telegram User @Splendicity

Are your team anonymous or do you have real faces?

Jack Ge: Of course we have real face!! 🙄

Q6 from Telegram User @Splendicity

What problem does cybervein solves in cryptospace?

Jack Ge: Rather than solving a problem in the crypto space, we are trying to solve a matter on a global scale.

The problem of data flow and data exchange. There are many data silos exist currently, we aim to break these silos and allow data to be used for the benefit the world, such as research development, performance optimization, data modeling, etc. the more data available, the faster the human race will progress.

Q7 from Telegram User @Rosane1a8

In your introduction video it says that CyberVein allow users to share their data to other people in a fully trustless environment. How is it that people that receive the data cannot share it or corrupt it under any circumstance? What guarantees that?

Jack Ge: This can be achieved through federated learning. For those who don’t know about federated learning, it is a new kind of work flow that allows data modeling without compromising data privacy.

Q8 from Telegram User @jobel4

Can you explain more about the “Online medical Assistant App” of Cybervein? How to use it? Is it available worldwide or only to a specific country and hospital?

Jack Ge: The online medical app is still being developed, you can check out a demo of it here: (http://med.cybervein.org)

Q9 from Telegram User @Rivaills14

How does CyberVein develop its project steadily?

Jack Ge: We simply keep ourselves updated with the industry, and stick to our roadmap. Of course we encounter problems from now and then, but we always try our best to work around them.

Q10 from Telegram User @Maksyrn

Why could CyberVein call the new platform Monopoly?

Jack Ge: Because most voters chose CROSS as our new platform’s name. 🙂

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PART 3, QUIZ AND INFO

As usual, for the third part, Satoshi Club Team asked the chat 4 questions about CyberVein. A link to a Quiz form were sent into the chat. Participants had 10 minutes to answer. 300$ were distributed between the winners. Please check the winners list here:

For more information and future AMAs, join our Social Media channels:

English Telegram group: https://t.me/Satoshi_club

Russian Telegram group: https://t.me/satoshi_club_ru

Spanish Telegram group: https://t.me/satoshi_club_spanish

Telegram Channel: https://t.me/satoshi_club_channel

Website: https://esatoshi.club/

Twitter: https://twitter.com/esatoshiclub 

Our Partners:

CyberVein Community: https://t.me/CyberVeinCommunity