Hello, Satoshi clubbers Another AMA took place in Satoshi Club and we would like to introduce to you the AMA session with our friends from OVAL Exchange and our guest was . The AMA took place on the 24th of February.<\/p>\n\n\n\n
The AMA session was divided into 3 parts with a total crypto reward pool of $500<\/p>\n\n\n\n
In this AMA Recap, we will try to summarise the most interesting points for you.<\/p>\n\n\n\n
Jonah <\/strong>🏅🎹<\/strong>\n| Satoshi Club<\/strong><\/p>\n\n\n\n Hello dear Satoshiclubbers Welcome to our AMA session with\nOVAL Exchange<\/p>\n\n\n\n Pavel P<\/strong><\/p>\n\n\n\n Hello, Satoshi Club and welcome to our AMA with OVAL\nExchange!<\/p>\n\n\n\n Jonah <\/strong>🏅🎹<\/strong>\n| Satoshi Club<\/strong><\/p>\n\n\n\n Our Guest today is @OvalOwen<\/strong><\/p>\n\n\n\n Jonah <\/strong>🏅🎹<\/strong>\n| Satoshi Club<\/strong><\/p>\n\n\n\n Welcome to Satoshi Club <\/p>\n\n\n\n Owen<\/strong><\/p>\n\n\n\n Hi everybody. Nice meeting you here!<\/p>\n\n\n\n Jonah <\/strong>🏅🎹<\/strong>\n| Satoshi Club<\/strong><\/p>\n\n\n\n Hello, we are Glad to have you here, how are you doing\ntoday?<\/p>\n\n\n\n Pavel P<\/strong><\/p>\n\n\n\n Welcome to Satoshi Club! <\/p>\n\n\n\n Owen<\/strong><\/p>\n\n\n\n I’m doing fantastic and I hope everybody here’s having a\ngreat day as well.<\/p>\n\n\n\n Pavel P<\/strong><\/p>\n\n\n\n Really excited to see you here today!<\/p>\n\n\n\n Jonah <\/strong>🏅🎹<\/strong>\n| Satoshi Club<\/strong><\/p>\n\n\n\n Let’s start our AMA<\/p>\n\n\n\n Pavel P<\/strong><\/p>\n\n\n\n Let’s GO!<\/p>\n\n\n\n Owen<\/strong><\/p>\n\n\n\n Yeah let’s do this<\/p>\n\n\n\n Jonah <\/strong>🏅🎹<\/strong>\n| Satoshi Club<\/strong><\/p>\n\n\n\n So can you introduce yourself to us how you got into crypto\nand how OVAL Exchange started?<\/p>\n\n\n\n Owen<\/strong><\/p>\n\n\n\n Hi guys, this is Owen. In the past 10 years, I have been active in Wall Street on derivatives pricing\/trading\/structuring\/risk management.<\/p>\n\n\n\n In the past year, crypto derivatives volume has surpassed\nUS$5 trillion, an increase of 98.1% YoY. With the growing usage and trade\nvolume in Decentralized Exchanges (DEXs) within the crypto community, the\ndemand for reliable DEXs has reached an all-time high. We see this as an\nopportunity and that’s why we decided to build Oval Exchange.<\/p>\n\n\n\n Jonah <\/strong>🏅🎹<\/strong>\n| Satoshi Club<\/strong><\/p>\n\n\n\n Impressive <\/p>\n\n\n\n So what is OVAL Exchange all about?<\/p>\n\n\n\n Pavel P<\/strong><\/p>\n\n\n\n 100% truth!<\/p>\n\n\n\n Owen<\/strong><\/p>\n\n\n\n Oval is a decentralized exchange for users to exchange risk\nexposures precisely and capital-efficiently. It is the DeFi way to trade\nDerivatives: to hedge, to speculate, to arbitrage, all on-chain. <\/p>\n\n\n\n While there are already Derivatives solutions for crypto,\nmost of them are either centralized or insufficient to meet the needs and\ndemands of potential DeFi users. Simply\nspeaking, the ultimate solution to exchanging risk exposures in the crypto\nworld has to be something original and organic within the blockchain. And\nthat\u2019s exactly what Oval exchange stands for!<\/p>\n\n\n\n Jonah <\/strong>🏅🎹<\/strong>\n| Satoshi Club<\/strong><\/p>\n\n\n\n How many team members do you have currently working on this\nproject?<\/p>\n\n\n\n Owen<\/strong><\/p>\n\n\n\n We have around 30 members total we are professionals in the\nfields of economics, quantitative trading and solidity programming.<\/p>\n\n\n\n Pavel P<\/strong><\/p>\n\n\n\n Dream team! Is the team fully anonymous?<\/p>\n\n\n\n Owen<\/strong><\/p>\n\n\n\n Yes, as a Dex we encourage our team members to stay\nanonymous.<\/p>\n\n\n\n Jonah <\/strong>🏅🎹<\/strong>\n| Satoshi Club<\/strong><\/p>\n\n\n\n Well understood<\/p>\n\n\n\n Thank you for the introduction<\/p>\n\n\n\n Jonah <\/strong>🏅🎹<\/strong>\n| Satoshi Club<\/strong><\/p>\n\n\n\n We will now like to proceed to community questions are you\nready?<\/p>\n\n\n\n Owen<\/strong><\/p>\n\n\n\n Absolutely<\/p>\n\n\n\n Pavel P<\/strong><\/p>\n\n\n\n Q1 from Telegram user @iceVermithraxx<\/em><\/p>\n\n\n\n Most Exchanges Prefer to use the trading mining model and then buy back the platform coins through fees however this model generally does not survive for long and will soon decline hence OVAL will implement an innovation on this existing model to protect the price of the token and the deflation mechanism to achieve long-term development. Can you elaborate on the innovation which OVAL aims to implement into the existing model to protect price of tokens? Can you share on how this innovation will work to protect the price of $OVAL token and propotionally cause price appreciation?<\/em><\/p>\n\n\n\n Owen<\/strong><\/p>\n\n\n\n This is a very good question! Our income from trading fees\nwill be subject to a 10% OVAL buyback and then burned. There is no max number\nof tokens we’d burn in perpetuity. By doing this, we can protect the price of\nOVAL token and propotionally cause price appreciation.<\/p>\n\n\n\n Pavel P<\/strong><\/p>\n\n\n\n Could elaborate more on fees that you apply?<\/p>\n\n\n\n Jonah <\/strong>🏅🎹<\/strong>\n| Satoshi Club<\/strong><\/p>\n\n\n\n I will also like to ask if this buyback will continue for as\nlong as the project exists and will this percentage remain the same?<\/p>\n\n\n\n Owen<\/strong><\/p>\n\n\n\n Yes, it applies to all the derivative trading fees that\ngenerated on Oval Exchange. And the buyback will continue for as long as the\nproject exists with the same percentage.<\/p>\n\n\n\n Jonah <\/strong>🏅🎹<\/strong>\n| Satoshi Club<\/strong><\/p>\n\n\n\n Thank you for your answers<\/p>\n\n\n\n Ready for the next question now?<\/p>\n\n\n\n Owen<\/strong><\/p>\n\n\n\n Yup!<\/p>\n\n\n\n Pavel P<\/strong><\/p>\n\n\n\n Q2 from Telegram user @UniqueVicky<\/em><\/p>\n\n\n\n Just some few moments ago you announced the staking development is almost done and you are very close to official launching with up to 2,000% Stake on OVAL. This is a great development. So please can you explain your staking mechanism to us? How much is the minimum time for which we can stake? Can we choose to unstake any time? Do you have staking options like the higher the tier one stake the better the reward? Some projects offer staking reward with a reward token instead of the native token,what about OVAL Exchange? What benefits will users who stake the OVAL token receive?<\/em><\/p>\n\n\n\n Owen<\/strong><\/p>\n\n\n\n That’s right our staking program will officially launch very\nsoon. There’s no requirement for minimum time and you can unstake anytime you\nwant. But of course the longer time period you stake, the more rewards you’d be\nable to earn. We do have plan for different tiers and the details will be\nreleased soon. Users who stake Oval token will receive our native token OVAL.<\/p>\n\n\n\n Pavel P<\/strong><\/p>\n\n\n\n Do you also plan some additional advantages to stakers? Like\nairdrops for ex.<\/p>\n\n\n\n Owen<\/strong><\/p>\n\n\n\n We also have plans to grant stakers governance rights and\nVIP rates for transaction fees.<\/p>\n\n\n\n Jonah <\/strong>🏅🎹<\/strong>\n| Satoshi Club<\/strong><\/p>\n\n\n\n Awesome <\/p>\n\n\n\n Pavel P<\/strong><\/p>\n\n\n\n Great! This should be noted by our community!<\/p>\n\n\n\n Jonah <\/strong>🏅🎹<\/strong>\n| Satoshi Club<\/strong><\/p>\n\n\n\n Thank you for your answers<\/p>\n\n\n\n Will you like to proceed to the third question now?<\/p>\n\n\n\n Owen<\/strong><\/p>\n\n\n\n Yeah what’s the next question<\/p>\n\n\n\n Pavel P<\/strong><\/p>\n\n\n\n Q3 from Telegram user @Sunny_steel<\/em><\/p>\n\n\n\n Hello, Oval Team! I have been passing through your roadmap and I have noticed that by the end of 2022 you target to add Polygon and Avalanche networks reaching 50+ trading pairs online. You are also mentioning to be adding a cross-network bridges, however there is not much information available if the bridges have already been tested and work properly. Could tell us more about it? Besides of that, please also explain the fees applied for cross-chained operations. Will they be higher once customers use it in complicated and long buy\/sell models through multiple chains? Thanks!<\/em><\/p>\n\n\n\n Our team has been doing a lot of testings on the bridges and\nwe believe we have everything we need to complete the whole process. For cross\nchain operations, we guarantee you that the fees will be much lower compare to\nothers in the industry.<\/p>\n\n\n\n Jonah <\/strong>🏅🎹<\/strong>\n| Satoshi Club<\/strong><\/p>\n\n\n\n Can you share your roadmap with us?<\/p>\n\n\n\n Owen<\/strong><\/p>\n\n\n\n Yes for sure<\/p>\n\n\n\n Owen<\/strong><\/p>\n\n\n\n 2022 Q1 <\/p>\n\n\n\n Oval V1 Launch <\/p>\n\n\n\n Users can trade perpetual contracts in Oval Exchange V1 at\nBinance Smart Chain<\/p>\n\n\n\n 2022 Q2 <\/p>\n\n\n\n Oval V2 Launch <\/p>\n\n\n\n Support Ethereum network <\/p>\n\n\n\n 10+ trading pairs online <\/p>\n\n\n\n Oval V2 provides extreme capital efficiency by supporting\nseveral key new features, such as stop loss, take profit and\nliquidity-providing.<\/p>\n\n\n\n 2022 Q3 <\/p>\n\n\n\n Layer 2 – Polygon integration <\/p>\n\n\n\n Oval will expand to Polygon to scale up our implementation\nand provide users with a real DeFi derivative solution without burdening users\nwith high fees or long confirmation times.<\/p>\n\n\n\n Provide secure futures trading services with up to 120x\nleverage. <\/p>\n\n\n\n 20+ trading pairs online <\/p>\n\n\n\n 2022 Q4<\/p>\n\n\n\n Avalanche network support <\/p>\n\n\n\n 50+ trading pairs online <\/p>\n\n\n\n Function of merge and split position modes <\/p>\n\n\n\n Support Isolated Margin Mode and Cross Margin Mode<\/p>\n\n\n\n Jonah <\/strong>🏅🎹<\/strong>\n| Satoshi Club<\/strong><\/p>\n\n\n\n Thank you for sharing this<\/p>\n\n\n\n Ready for the next question now?<\/p>\n\n\n\n Owen<\/strong><\/p>\n\n\n\n Yup<\/p>\n\n\n\n Pavel P<\/strong><\/p>\n\n\n\n Q4 From Telegram User @chinyere2020<\/em><\/p>\n\n\n\n OVAL, a decentralized derivatives exchange, is currently online with the BSC development ecology and will gradually complete the cross-chain ecology to become a leader in the field of decentralized derivatives\u201d. Can you give more information about the distinctive features of OVAL that will enable it become a leader in the field of decentralized derivatives? What are the main benefits\/advantages that users will enjoy as a result of using OVAL over other top decentralized derivatives exchanges that are currently available in the market? Can you also explain the process that is followed before a token is listed on OVAL?<\/em><\/p>\n\n\n\n Owen<\/strong><\/p>\n\n\n\n We are going to offer more competitive rates and better\nproducts. Our current target market is users on the Binance Smart Chain, as\nwell as users of derivatives trading in the Ethereum ecosystem. Our marketing\ndepartment is working hard to ensure that we’ll have a successful listing. At\nthis moment, we are having positive conversations with some Tier 1 exchanges. <\/p>\n\n\n\n Jonah <\/strong>🏅🎹<\/strong>\n| Satoshi Club<\/strong><\/p>\n\n\n\n Great.. so what about projects that intend to use your\nexchange?<\/p>\n\n\n\n Do they have to meet any requirement?<\/p>\n\n\n\n Pavel P<\/strong><\/p>\n\n\n\n I see the OVAL V1 is planned for Q1 this year. Have you\nalready fixed a particular date for that?<\/p>\n\n\n\n Owen<\/strong><\/p>\n\n\n\n We’ll carefully evaluate the projcests that intends to use\nour exchange. We’ll listen to opinions from our community cause we believe Oval\nExchange users are our most valuable assets. <\/p>\n\n\n\n Oval V1 is already live online. We welcome you all to come\nand try at oval.exchange<\/p>\n\n\n\n Jonah <\/strong>🏅🎹<\/strong>\n| Satoshi Club<\/strong><\/p>\n\n\n\n Thank you for your answers<\/p>\n\n\n\n Pavel P<\/strong><\/p>\n\n\n\n Thank you! Satoshiclubbers, do not waste your time to\nexplore OVAL!<\/p>\n\n\n\n Jonah <\/strong>🏅🎹<\/strong>\n| Satoshi Club<\/strong><\/p>\n\n\n\n Let’s proceed to the next question<\/p>\n\n\n\n Pavel P<\/strong><\/p>\n\n\n\n Q5 From Telegram User @Ask4unik<\/em><\/p>\n\n\n\n OVAL will support USDT\/BUSD=1:1 cross collateral model,which requires two kinds of contracts,BTC\/USDT and BTC\/BUSD.What major advantage does having a cross collateral model have on OVAL?It is said that the liquidity of OVAL is expected to be further enhanced after this model goes live.Is this model live already? If not, when are we expecting it? Can you tell us the use cases of this model?<\/em><\/p>\n\n\n\n You also said BTC,ETH,BNB, etc will also be used directly as cross collateral, which is also one of the key features of the platform.In what quarter of the year will this be implemented?<\/em><\/p>\n\n\n\n Owen<\/strong><\/p>\n\n\n\n The benefit of our cross collateral model is that investors\nwill have the opportunity to leverage their existing assets, tap into equity,\nand potentially finance multiple deals at once\u2014or move quickly on a hot or\nhigh-risk property. You don’t have to come up with new collateral or funds; you\ncan use investments or assets you already have.<\/p>\n\n\n\n This model is not live yet, and we plan to make it happen\nbefore end of Q4.<\/p>\n\n\n\n Jonah <\/strong>🏅🎹<\/strong>\n| Satoshi Club<\/strong><\/p>\n\n\n\n So will only the three mentioned assets be used or will you\nadd more assets to the list?<\/p>\n\n\n\n Owen<\/strong><\/p>\n\n\n\n The mentioned assets are our initial plan and we’ll add more\nassets to the list based on what the community desires.<\/p>\n\n\n\n Jonah <\/strong>🏅🎹<\/strong>\n| Satoshi Club<\/strong><\/p>\n\n\n\n Awesome<\/p>\n\n\n\n Thank you for your answers<\/p>\n\n\n\n Ready for the last question for this part now?<\/p>\n\n\n\n Owen<\/strong><\/p>\n\n\n\n Yup can’t wait<\/p>\n\n\n\n Pavel P<\/strong><\/p>\n\n\n\n Q6 From Telegram User @Rozielyna<\/em><\/p>\n\n\n\n I read that Oval Exchange Will Officially Start Retroactive Mining Rewards Airdrop Program and the Promotion Period: 18th Feb 2022 \u2013 18th Mar 2022. Can you please highlight more on the Rewards Airdrop program? How can users participate in the program? What will be the requirements to qualify for the $OVAL airdrop? When and how will the winners be announced? And how long will it take for the rewards to be distributed ?<\/em><\/p>\n\n\n\n Owen<\/strong><\/p>\n\n\n\n Yes, you can participate by depositing at least 10 USDT to\nOval Exchange and make a transaction to qualify for $OVAL airdrop.<\/p>\n\n\n\n 10 addresses will be randomly selected everyday for 10,000\n$OVAL airdrop. Total 100,000 OVAL per day.<\/p>\n\n\n\n Winners will be announced weekly at Oval community group and\nOval official twitter account. <\/p>\n\n\n\n Rewards will be automatically distributed within one month\nafter TGE.<\/p>\n\n\n\n Jonah <\/strong>🏅🎹<\/strong>\n| Satoshi Club<\/strong><\/p>\n\n\n\n Exciting <\/p>\n\n\n\n Do you have other planned community events ?<\/p>\n\n\n\n Pavel P<\/strong><\/p>\n\n\n\n Thank you! Could you also share the tokenomics of $OVAL?<\/p>\n\n\n\n Owen<\/strong><\/p>\n\n\n\n You bet. There’s gonna be a lot of exciting events ahead to\nmake sure everybody can engage.<\/p>\n\n\n\n Owen<\/strong><\/p>\n\n\n\n Ultimate Total Supply (Fully Diluted Total Supply) =\n10,000,000,000. This is the number of OVAL after all the mining tokens are\nmined out (in decades)<\/p>\n\n\n\n 80% to community, unlock over a period of two years. (25%\nfor oval staking rewards); <\/p>\n\n\n\n 10% to treasury, unlock over a period of two years; <\/p>\n\n\n\n 10% to Marketing & Partnerships, including KOLs,\nexchanges, media<\/p>\n\n\n\n Jonah <\/strong>🏅🎹<\/strong>\n| Satoshi Club<\/strong><\/p>\n\n\n\n Thank you for your answers <\/p>\n\n\n\n Pavel P<\/strong><\/p>\n\n\n\n 80% to Community! This is where the people are placed to the\nTOP!<\/p>\n\n\n\n Jonah <\/strong>🏅🎹<\/strong>\n| Satoshi Club<\/strong><\/p>\n\n\n\n With this we’ve come to the end of part 1, and will like to\nproceed to the second part<\/p>\n\n\n\n Our users will Ask you their questions directly are you\nready for them?<\/p>\n\n\n\n Pavel P<\/strong><\/p>\n\n\n\n Get ready for the storm!<\/p>\n\n\n\n Owen<\/strong><\/p>\n\n\n\n Bring it on <\/p>\n\n\n\n Jonah <\/strong>🏅🎹<\/strong>\n| Satoshi Club<\/strong><\/p>\n\n\n\n Chat will be opened for 120 secs<\/p>\n\n\n\n Pavel P<\/strong><\/p>\n\n\n\n We open chat for 120 sec only. Once we close it back please\nchoose 10 questions to answer! <\/p>\n\n\n\n Q1 from Telegram user <\/em> @JaviSuBs<\/strong><\/em><\/p>\n\n\n\n Is it possible to trade on OVAL Exchange anonymously?<\/em><\/p>\n\n\n\n Owen<\/strong> <\/p>\n\n\n\n Yes, there will be no KYC requirement so it is totally anonymous for everybody<\/p>\n\n\n\n Q2 from Telegram user <\/em> @JaviSuBs <\/em><\/strong><\/p>\n\n\n\n Where can we find up-to-date information on the OVAL Exchange project\u2026.. Can you share the official OVAL Exchange information channels to keep up to date with updates and find out when the participation program will be launched?<\/em><\/p>\n\n\n\n Owen<\/strong> <\/p>\n\n\n\n Telegram: https:\/\/t.me\/OvalExchange<\/a><\/p>\n\n\n\n Github: https:\/\/exchange-oval.gitbook.io\/oval.exchange\/<\/a><\/p>\n\n\n\nPart 2 \u2014 live questions from the Telegram community<\/strong><\/h2>\n\n\n\n