{"id":1245,"date":"2020-08-06T00:41:25","date_gmt":"2020-08-05T21:41:25","guid":{"rendered":"https:\/\/esatoshi.club\/?p=1245"},"modified":"2020-08-06T00:41:28","modified_gmt":"2020-08-05T21:41:28","slug":"dext-x-satoshi-club-ama-recap-from-august-1st","status":"publish","type":"post","link":"https:\/\/satoshi-club.esipick.com\/index.php\/2020\/08\/06\/dext-x-satoshi-club-ama-recap-from-august-1st\/","title":{"rendered":"DEXT x Satoshi Club AMA Recap from August 1st"},"content":{"rendered":"\n

The cryptoworld has become a financial support for millions of people, it grows every day more in number of projects, in the same way our telegram community grows and has exceeded 20k members. Today we would like to tell you about the AMA session with our friends from DEXT<\/a>. The AMA took place on July 30 and our guest was @FredericDEXT<\/a>.<\/p>\n\n\n\n

The total reward pool was $800 and it was splitted into three parts.<\/p>\n\n\n\n

In this AMA Recap we will try to summarize some of the most interesting points for you.<\/p>\n\n\n\n

……………………………………….<\/p>\n\n\n\n

PART 1, INTRODUCTION AND COMMUNITY\nQUESTIONS<\/strong><\/p>\n\n\n\n

Serg | Satoshi Club<\/strong>: Hi! Today our AMA guests will be from @DEXToolsCommunity<\/a>. @FredericDEXT<\/a>, welcome!<\/p>\n\n\n\n

Frederic | DEXT:<\/strong> Hi, nice to be here with you, Congratulations\nfor your 20k members.<\/p>\n\n\n\n

Irina K.| @Satoshi_Club:<\/strong> How are you? Thanks for the kind\nwords. 🥰\n<\/p>\n\n\n\n

Serg | Satoshi Club<\/strong>: We are glad to have you here \ud83d\ude42\nPlease tell us a bit about yourself and how did you start DEXtools \ud83d\ude42 What was\nthe idea behind it.<\/p>\n\n\n\n

Frederic | DEXT: <\/strong>Well, I am Frederic Fern\u00e1ndez, i’m\nthe CMO and CoFounder of DEXTools. DEXTools borns of the need of a group of\ncryptotraders that want to be better, so with our coding skills we tried to\nbuild the best trading assistant for ourselves, so the result is DEXTools.<\/p>\n\n\n\n

DEXTools is\na trading application created by Crypto-enthusiasts that aims to be the best\ntrading assistant for crypto-currency trading. From the beginning, our goal has\nbeen to convert all the information provided by the APIs and the blockchain\ninto an intuitive and fast graphical environment, so that users do not have to\nsearch for all the information step by step and thus save time and earn more\nmoney due to the increased reaction time. As you know…In Crypto-Trading, a\nfew seconds can turn a good operation into a failed on.<\/p>\n\n\n\n

Irina K.| @Satoshi_Club: <\/strong>So you are the first users of DEXTools? Where\nyou involved in finance before that? Before DexTools I mean.<\/p>\n\n\n\n

Frederic | DEXT: <\/strong>We started as Cryptotraders at the\nend of 2017, most part of the team worked as developers, and crypto was just a\nhobby for us, after a promising months in the 2017 bull our gains were drained\ndue the hard bear market. so We had to adapt, because we fall in love with\nCrypto, when most of our friends leave the trading, we adapted, and from that\nstrategies we develop and primitive tools, DEXTools was born.<\/p>\n\n\n\n

Serg | Satoshi Club<\/strong>: you’ve entered the market at its\nworst point. \ud83d\ude42<\/p>\n\n\n\n

Frederic | DEXT: <\/strong>Yes, i joined crypto in November 2017\nand you always spend some months learning, at first you don’t nothing about\ncrypto and all is new. I think most people has the same feelings at the start.<\/p>\n\n\n\n

Serg | Satoshi Club<\/strong>: Yes, my first interaction was to\nbuild an ETH rig in 2016. \ud83d\ude42<\/p>\n\n\n\n

Frederic | DEXT: <\/strong>Nice investment.<\/p>\n\n\n\n

Irina K.| @Satoshi_Club: <\/strong>Is the team located in a country or you work\nremote?<\/p>\n\n\n\n

Frederic | DEXT: <\/strong>We work remote by now, but we are all\nfrom Spain.<\/p>\n\n\n\n

Serg | Satoshi Club<\/strong>: It’s a nice country \ud83d\ude42 I hope to\nrevisit it soon.<\/p>\n\n\n\n

Q1 from Telegram user @romanstrode<\/strong><\/p>\n\n\n\n

Who is your target customers,\nprofessional traders or the ones that are just getting started? Who can benefit\nthe most from the tools that you are offering?<\/em><\/p>\n\n\n\n

Frederic | DEXT: <\/strong>Very good question. We ourselves\nthought about that many times, when you have years of experience it’s hard to\nthink again like a newcomer. But I think our target are simply traders that\nwant to go one step further and take advantage of the tools we gave, a better\ntrader will benefit more of our tools, but a newcomer can also find it easier\nto understand market movements and learn trading with our tools. <\/p>\n\n\n\n

We try to\nkeep the app the most user friendly we can.<\/p>\n\n\n\n

Q2 from Bitcointalk user pedronino<\/strong><\/p>\n\n\n\n

May I know where will the\nsubscription funds go? Directly to the team? What are you planning to do with\nthem? Are you planning to burn?<\/em><\/p>\n\n\n\n

Frederic | DEXT: <\/strong>Yes, of course, the subscription fees\nreturn to the team, but we do have also a burn feature, we will burn 50% of the\ncollected fees until 20 million are burned, and after that 10% of the collected\nfees forever, that makes us a deflationary coin.<\/p>\n\n\n\n

The rest of\nthe fees go into the team’s budget, but we may consider doing more burns in the\nfuture or increasing the current ones. We want to keep it sustainable and think\nlong term.<\/p>\n\n\n\n

Serg | Satoshi Club: <\/strong>And how will you use the rest of the\nbudget? Is there a plan for that?<\/p>\n\n\n\n

Frederic | DEXT: <\/strong>We will adapt to the economic\nconditions depending on the token price too. But we have not so many expenses\nright now. Most of the budget will go to marketing and New exchanges, by now we\ndevelop all tools by ourselves, so until we need to hire more team (which is\nlikely to do in 2021), we don’t have many expenses like other teams.<\/p>\n\n\n\n

Serg | Satoshi Club: <\/strong>That’s a healthy plan, well organized.\nIn this way you will not run out of funds.<\/p>\n\n\n\n

Frederic | DEXT: <\/strong>Thank you, as I said we try to think\nlong term.<\/p>\n\n\n\n

Q3 from Bitcointalk user albert3990<\/strong><\/p>\n\n\n\n

You can talk a little about the bot\nproject that will be launched in the third semester in the premium plan. How\nwill it work?<\/em><\/p>\n\n\n\n

Frederic | DEXT: <\/strong>Yes, the bot in which we were working\nand that we have more advanced is the IDEX trading bot, that is likely to be\nincluded in V1. It is an automated buy and sell bot, the first version will be\nintegrated into IDEX exchange, you can choose a currency and set some\nparameters like a buy range (between 50-60 for example) and a sell range\n(between 70-80 for example), so the bot will always try to buy in the buy range\nand sell in the sell range maximizing the profit. <\/p>\n\n\n\n

If you sell\nyour tokens, they can automatically put the buy order again until you give\nanother order or stop it.<\/p>\n\n\n\n

Serg | Satoshi Club: <\/strong>It’s a good thing. I always set some\nnotifications for this but with a bot I think it might be easier.<\/p>\n\n\n\n

Frederic | DEXT:<\/strong> We are working also in the token\ncatcher bot, if a big amount of tokens are deposited in the exchange, they will\nput the order and try to catch the dip.<\/p>\n\n\n\n

Irina K.| @Satoshi_Club: <\/strong>Does it use machine learning or AI\ntechnologies? Or just plain buy\/ sell functionalities?<\/p>\n\n\n\n

Frederic | DEXT: <\/strong>It’s a feature that we already have\nin idex, but you need to do it manually. I think trader should act and at least\ngive some parameters, but we are not against experimenting with some Trader IA\nin the future. But the best results always come from traders\u2019 experience and\ngood knowledge about the market.<\/p>\n\n\n\n

Serg | Satoshi Club:<\/strong> So, basically, it is not giving me\nadvices or smth but is helping me organize my trades better.<\/p>\n\n\n\n

Frederic | DEXT: <\/strong>Yes, the advice comes from the other\ntools that show all the info you need to make better trades.<\/p>\n\n\n\n

Serg | Satoshi Club: <\/strong>Let’s suppose that 100% from the IDEX\ntraders are using your services. What then? How will the trade go? I mean\nwouldn’t it be influenced? can someone see what orders were made in the bot and\ninfluence the trades?<\/p>\n\n\n\n

Frederic | DEXT:<\/strong> The bots always try to put itself in\nthe first place, the rest comes from idex limitations. We will try that premium\nusers have preference obviously.<\/p>\n\n\n\n

Serg | Satoshi Club: <\/strong>and btw, what revenue do you expect?\nor how many subscriptions?<\/p>\n\n\n\n

Frederic | DEXT: <\/strong>We have by now, in the lastest check\n24000 users yesterday. We were growing in users 100% everyday last week.<\/p>\n\n\n\n

Irina K.| @Satoshi_Club: <\/strong>Users with subscription? Or in general?<\/p>\n\n\n\n

Frederic | DEXT: <\/strong>I cannot give an estimation because\nwe never expected those huge numbers. So next week when we close the beta we\nwill see. In general, beta by now is open and free for all. <\/p>\n\n\n\n

So you can\ntry it : https:\/\/www.dextools.io\/app<\/a> <\/p>\n\n\n\n

Serg | Satoshi Club: <\/strong>Do you plan to add more use cases for\nthe token? beside buying the subscription? I hope you don’t mind my questions 😁 I am very curious.<\/p>\n\n\n\n

Frederic | DEXT: <\/strong>Yes, of course, we have benefits for\nthe big holders, like a premium membership with free access to the app and some\nof the top tier features will be only accessible by holders. The best trading\nbots for uniswap for example, that I hope it will be released on Q4 2020 or max\nQ 2021.<\/p>\n\n\n\n

We will keep\ndeveloping and improving the app everyday since then. So it will be a soft\ntransition. One of the things that is important for us since the beginning is\nto have a fully usable app so community could use it without long development\ntimes.<\/p>\n\n\n\n

Now we apply\nthe same philosophy to our development and we want people from community can\nsee the improvements of the app every week or month max.<\/p>\n\n\n\n

Serg | Satoshi Club: <\/strong>that is really important to get ahead\nof projects which are starting just with an idea.<\/p>\n\n\n\n

Q4 from Telegram user @JP_Morgan_Chase<\/strong><\/p>\n\n\n\n

Will DEXTools have tutorials for\nnovice traders? How to use DEXTools tools correctly and analyze the market with\ntheir help?<\/em><\/p>\n\n\n\n

Frederic | DEXT: <\/strong>Yes, we are working currently on a\nuser guide to explain all the features we were including these last updates.<\/p>\n\n\n\n

For\nexplaining idex ones we have a very good article write by our friends from\ncryptoguerrillas: https:\/\/cryptoguerrillas.com\/dextools-crypto-traders-crystal-ball\/<\/a>\n<\/p>\n\n\n\n

\"\"<\/figure>\n\n\n\n

We have some\nvideos in our YouTube, but they are a bit outdated. We hope to release a new\none soon.<\/p>\n\n\n\n

Q5 from Telegram user @Brainchest<\/strong><\/p>\n\n\n\n

In the roadmap, I saw no intention of\nlisting DEXT token on exchanges like Binance, Huobi and e.t.c.. Is this not\nincluded in the immediate plans or not at all?<\/em><\/p>\n\n\n\n

Frederic | DEXT: <\/strong>We are a small team, we had no ICO\nand we released in Uniswap at first, so our budget by now is limited, and we\nprioritize development, so TOP exchanges like that are a little far ahead from\nour current situation in the market. But of course, we are open to list in any\nof them. If they make a good offer and they show interest in our project.<\/p>\n\n\n\n

But we are\nfocused on DEX mainly so it\u2019s good our main exchange is a DEX like uniswap.<\/p>\n\n\n\n

Serg | Satoshi Club: <\/strong>Do you plan to attract investments in\na form of private sale or a public one? in the future.<\/p>\n\n\n\n

Frederic | DEXT: <\/strong>Yes, we are in touch with some\nBlockchain Venture Funds and even some Spanish companies that are very\ninterested in our idea. But I cannot disclose our negotiations by now. As you\nwill understand.<\/p>\n\n\n\n

Serg | Satoshi Club: <\/strong>I am glad to hear about that. wish\nyou good luck with that!<\/p>\n\n\n\n

Q6 from Telegram user @occupyingmars<\/strong><\/p>\n\n\n\n

Please explain how your UNISWAP Pool\nExplorer does function? How does it know when there are manipulations or when a\nproject is a scam?<\/em><\/p>\n\n\n\n

Frederic | DEXT: <\/strong>Pool explorer works in the same way\nas uniswap info with some additional tools, price chart and dext score are the\nmost popular by now. Chart works in real-time with the last 800 trades by now,\nwe will improve the history in v1 so you can change the time frame like the\ncharts from tradingview for example.<\/p>\n\n\n\n

Irina K.| @Satoshi_Club: <\/strong>How is the dext score created?<\/p>\n\n\n\n

Frederic | DEXT: <\/strong>About DEXT score, it’s based in 15\ndifferent parameters that are given to an algorithm we designed, usually most\ninfo= most dext score, the info is taken from many sources. Time since contract\ncreation, number of holders, number of transactions, pool size and verified\ncontract on etherscan are some of the most important points.<\/p>\n\n\n\n

We will keep\nimproving it with more parameters to give even a most accurate score in the\nfuture.<\/p>\n\n\n\n

Serg | Satoshi Club: <\/strong>That’s really nice, I don’t think\nthere is an equivalent.<\/p>\n\n\n\n

Frederic | DEXT: <\/strong>Sometimes we cannot found info about\na token, so we included a warning symbol with and advice that every people\nshould know. Do Your Own Research Always. DEXT score is not infallible even if\nit can filter 99% of uniswap scam.<\/p>\n\n\n\n

………………………………………. <\/p>\n\n\n\n

PART 2, TELEGRAM COMMUNITY LIVE\nQUESTIONS<\/strong><\/p>\n\n\n\n

The\nchat was open for 80 seconds; around 500 questions were posted by the Satoshi\nClub community. Our guest chose ten of them. <\/p>\n\n\n\n

Q1 from Telegram User @Gladushka<\/strong><\/p>\n\n\n\n

The Polkadot ecosystem is actively\ndeveloping. Are you planning an integration with Polkaswap?<\/em><\/p>\n\n\n\n

Frederic | DEXT: <\/strong>We are closely following the\ndevelopment of new exchanges such as polkaswap and hope to be able to integrate\nit when it comes out if it is successful.<\/p>\n\n\n\n

Q2 from Telegram User @SIRJEETU<\/strong><\/p>\n\n\n\n

I read the intresting story behind the\nidea of creating #DETX tools. My question is what was motivation for a small\nteam of traders who decided to create this massive. And are you guys adding\nmore clients like Uniswap in future?<\/em><\/p>\n\n\n\n

Frederic | DEXT: <\/strong>We like crypto, we spend years trading\nand developing for ourselves while we saw nice communities growing, we thought\nthat it will be nice sharing our tools to people and participate in the\necosystem creating our own community in crypto.<\/p>\n\n\n\n

Q3 from Telegram User @putu45<\/strong><\/p>\n\n\n\n

What is the structure of the company,\nis it a decentralized, open sourced protocol where everybody can contribute? If\nso, how does the governance plan on being handled?<\/em><\/p>\n\n\n\n

Frederic | DEXT: <\/strong>We are a small team, so we are\norganized by skills, all people in the team has a unique skill or more\nexperience in a particular thing. So we organize and work together very close\neven being in different places. The best part of this team is that we are\nfriends, not only workers of the same project.<\/p>\n\n\n\n

Q4 from Telegram User @Termuxnih<\/strong><\/p>\n\n\n\n

I believe in security, may I ask what\nprogram is behind DexTools, whether C ++ or Php. if one or the other why you\nuse the program?<\/em><\/p>\n\n\n\n

Frederic | DEXT: <\/strong>We use many technologies, the most\nused in our project is Javascript and its framework Angular. For the backend,\nwe are developing in Node.<\/p>\n\n\n\n

Q5 from Telegram User @Cuzz1<\/strong><\/p>\n\n\n\n

Can customers get support by DEXTools\nwithout delivering sensitive personal information? What information do you save\non the system? Is it necessary to present the information? How does the system\nprotect users from risks?<\/em><\/p>\n\n\n\n

Frederic | DEXT: <\/strong>We don’t have any kind of KYC and we\nhave not planned to have it, so no sensitive information is saved in our\nsystem. We do not have any risk for users by now, we only provide information.<\/p>\n\n\n\n

Q6 from Telegram User @Royalzackie<\/strong><\/p>\n\n\n\n

What is the importance of DEXT erc20\ntoken and why DEXT choose Ethereum based Blockchain? There are many Blockchain\navailable. DEXT can choose trc20 also, but why erc20?<\/em><\/p>\n\n\n\n

Frederic | DEXT: <\/strong>We choose ERC20 because it has a\nbigger ecosystem, it’s easier to work with it because there is a lot more info\nabout everything you want to develop. It’s also easier to list on exchanges\nlike Uniswap that only works with erc20.<\/p>\n\n\n\n

Q7 from Telegram User @erven12<\/strong><\/p>\n\n\n\n

Is using DEXTools Platform Affordable?<\/em><\/p>\n\n\n\n

Frederic | DEXT: <\/strong>Yes, we will try the platform will be\naffordable for most people, you can also use it for free if you are a top\nholder, so you can buy our token, use it for free and after that selling it\n(with profit if you are lucky or do it well).<\/p>\n\n\n\n

Q8 from Telegram User @Lanre_Akorede<\/strong><\/p>\n\n\n\n

DEXT is the transaction data in the\nnew DEFI era. What I worry about is how you can provide accurate market data\nconsidering the market manipulation of cryptocurrencies. Do you have Oracle to\nensure accurate transaction data?<\/em><\/p>\n\n\n\n

Frederic | DEXT: <\/strong>We take most of our data from\nBlockchain, so you can’t falsify it, also DEX in general have a more organic\nvolume and don’t falsify orders, volume or other things like other shady\nexchange could do.<\/p>\n\n\n\n

Q9 from Telegram User @T_ashish08<\/strong><\/p>\n\n\n\n

What do you think is\nthe biggest advantage that enables the team to lead the market? On the\ncontrary, what are your weaknesses? How do you plan to overcome it?<\/em><\/p>\n\n\n\n

Frederic | DEXT: <\/strong>Our biggest advantage is that we are\ncrypto enthusiasts, experienced traders and experienced developers, so we have\na good mixture for doing a great job, our weakness is that is hard to compete\nwith bigger projects that have more money or connections than us. But we will\ndo our best.<\/p>\n\n\n\n

Q10 from Telegram User @Alisonm1<\/strong><\/p>\n\n\n\n

What do you think are the issues that\nIDEX & UNISWAP users are facing today? And What are the unique key factors\nthat DexTools has to offer?<\/em><\/p>\n\n\n\n

Frederic | DEXT: <\/strong>The issues in IDEX and Uniswap are\nvery different, in IDEX you have to pass an interview to list, so there are few\nscams in there, but the biggest issue is the lack of liquidity in most pairs, in\nuniswap is the exact opposite, you have plenty of liquidity but there are many\nscams because everyone can create a scam project and list.<\/p>\n\n\n\n

So\nwe have to adapt to every exchange with the tools that they need.<\/p>\n\n\n\n

Serg | Satoshi Club: <\/strong>Thank you for your answers!<\/p>\n\n\n\n

Irina K.| @Satoshi_Club: <\/strong>Thank you @FredericDEXT<\/a><\/p>\n\n\n\n

Frederic | DEXT: <\/strong>Thank you too. Very good questions,\nit was hard to choose.<\/p>\n\n\n\n

………………………………………. <\/p>\n\n\n\n

PART 3, QUIZ AND INFO<\/strong><\/p>\n\n\n\n

As\nusual, for the third part, Satoshi Club Team asked the chat 4 questions about DEXT.\nA link to a Quiz form were sent into the chat. Participants had 10 minutes to\nanswer. 500$ were distributed between the winners. You can check the list of\nquiz winners here: https:\/\/t.me\/Satoshi_club\/189902<\/a>\n<\/p>\n\n\n\n

 1.<\/strong>Out\nof the first tokens that the users will use to pay for the subscriptions, how\nmany will be burned?<\/p>\n\n\n\n

b)<\/strong>\n50% of the first 40 Million.<\/em><\/p>\n\n\n\n

2.<\/strong>How\nmany dext tokens do I need to hold at least to use the complete pair explorer\nduring the beta phase?<\/p>\n\n\n\n

a)<\/strong>\n5000 DEXT Tokens.<\/em><\/p>\n\n\n\n

3.<\/strong>Which\nfeatures include the IDEX DEXTools?<\/p>\n\n\n\n

c)<\/strong>\nToken Catch, Wallet info, Spread Hunter,\nOb search and Exchange Data.<\/em><\/p>\n\n\n\n

4.<\/strong>\nWhat is the planned date for the launch of the 1.0 version of the DEXTools\nplatform?<\/p>\n\n\n\n

b)<\/strong>\nQ3 of 2020.<\/em><\/p>\n\n\n\n

For more information and future AMAs, join our\nSocial Media channels: <\/strong><\/p>\n\n\n\n

English\nTelegram group: https:\/\/t.me\/Satoshi_club<\/a> <\/p>\n\n\n\n

Russian\nTelegram group: https:\/\/t.me\/satoshi_club_ru<\/a> <\/p>\n\n\n\n

Spanish\nTelegram group: https:\/\/t.me\/satoshi_club_spanish<\/a> <\/p>\n\n\n\n

Telegram\nChannel: https:\/\/t.me\/satoshi_club_channel<\/a> <\/p>\n\n\n\n

Website: https:\/\/esatoshi.club\/<\/a><\/p>\n\n\n\n

Twitter:\nhttps:\/\/twitter.com\/esatoshiclub<\/a>  <\/p>\n\n\n\n

Our Partners: <\/strong><\/p>\n\n\n\n

DEXTools\nCommunity: https:\/\/t.me\/DEXToolsCommunity<\/a>\n<\/p>\n","protected":false},"excerpt":{"rendered":"

The cryptoworld has become a financial support for millions of people, it grows every day more in number of projects, in the same way our telegram community grows and has exceeded 20k members. Today we would like to tell you about the AMA session with our friends from DEXT. The AMA took place on July […]<\/p>\n","protected":false},"author":4,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[],"tags":[],"_links":{"self":[{"href":"https:\/\/satoshi-club.esipick.com\/index.php\/wp-json\/wp\/v2\/posts\/1245"}],"collection":[{"href":"https:\/\/satoshi-club.esipick.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/satoshi-club.esipick.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/satoshi-club.esipick.com\/index.php\/wp-json\/wp\/v2\/users\/4"}],"replies":[{"embeddable":true,"href":"https:\/\/satoshi-club.esipick.com\/index.php\/wp-json\/wp\/v2\/comments?post=1245"}],"version-history":[{"count":2,"href":"https:\/\/satoshi-club.esipick.com\/index.php\/wp-json\/wp\/v2\/posts\/1245\/revisions"}],"predecessor-version":[{"id":1250,"href":"https:\/\/satoshi-club.esipick.com\/index.php\/wp-json\/wp\/v2\/posts\/1245\/revisions\/1250"}],"wp:attachment":[{"href":"https:\/\/satoshi-club.esipick.com\/index.php\/wp-json\/wp\/v2\/media?parent=1245"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/satoshi-club.esipick.com\/index.php\/wp-json\/wp\/v2\/categories?post=1245"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/satoshi-club.esipick.com\/index.php\/wp-json\/wp\/v2\/tags?post=1245"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}