{"id":7123,"date":"2021-03-19T15:28:34","date_gmt":"2021-03-19T13:28:34","guid":{"rendered":"https:\/\/esatoshi.club\/?p=7123"},"modified":"2021-03-19T15:28:38","modified_gmt":"2021-03-19T13:28:38","slug":"xdefi-x-satoshi-club-ama-recap-from-17th-of-march","status":"publish","type":"post","link":"https:\/\/satoshi-club.esipick.com\/index.php\/2021\/03\/19\/xdefi-x-satoshi-club-ama-recap-from-17th-of-march\/","title":{"rendered":"XDEFI x Satoshi Club AMA Recap from 17th of March."},"content":{"rendered":"\n

Hello, Satoshi clubbers Another AMA took place in\nSatoshi Club and we would like to introduce to you the AMA session with our\nfriends from XDEFI and our guest was Turbulence Wang. The AMA took place on 17th<\/sup>\n March.<\/p>\n\n\n\n

The AMA session was divided into 3 parts with a total\ncrypto reward pool of 500$ <\/p>\n\n\n\n

In this AMA Recap we will\ntry to summarise the most interesting points for you.<\/p>\n\n\n\n

Part\n1 \u2014 introduction and questions from the Telegram community<\/strong><\/h2>\n\n\n\n

Turbulence\nWang: <\/strong>I\u2019m glad to share ideas from our project, xDeFi.com<\/p>\n\n\n\n

We established a series\nof protocols, all built over xDEX, our multi-asset AMM DEX which support LP\nfarming.<\/p>\n\n\n\n

Thank you for the intro\n@ciupidos<\/p>\n\n\n\n

Today I will give a brief\nintroduction about what\u2019s new on xDEX, in a couple of minutes \ud83d\ude42<\/p>\n\n\n\n

Mary\n| Satoshi Club:<\/strong> Hello, guys! Happy to see you all here!\nLet’s start our AMA 🚀<\/p>\n\n\n\n

D. | Satoshi Club<\/strong>:\nawesome 👍<\/p>\n\n\n\n

Mary\n| Satoshi Club:<\/strong> Sure! But let’s start with introduction 😀<\/p>\n\n\n\n

Turbulence Wang:<\/strong><\/p>\n\n\n\n

xDeFi_2021_AMA_Roadshow<\/a>Download<\/a><\/div>\n\n\n\n

Keep this deck for a\nquick review or as a reminder for later reference<\/p>\n\n\n\n

Mary\n| Satoshi Club:<\/strong>Guys, please, introduce yourself and tell\nus more about XDEFI 🔥<\/p>\n\n\n\n

Turbulence Wang:<\/strong> <\/p>\n\n\n\n

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

The first thing many\nblockchain users may wonder is \u2013 Do we really need one more DEX? Uniswap and\n1inch are the 2 most successful DEXes product on Ethereum blockchain. The\nanswer is yes, we still need multi-asset AMM DEX in the first place.<\/p>\n\n\n\n

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

Mary\n| Satoshi Club:<\/strong> Great! This intro will be awesome 🚀<\/p>\n\n\n\n

Turbulence\nWang:<\/strong> Imagine you want to trade UNI for Sushi, UNI will\nonly give you a multi-hop choice which caused doubled gas consumption in this\ntransaction.<\/p>\n\n\n\n

In Multi-Asset AMM DEXes,\nmulti-asset pools are still portfolios which provide liquidity simultaneously.<\/p>\n\n\n\n

In conventional stock\nmarket, ETF funds are usually composed by stocks in the same industry or in the\nsame style, like Bluechips, Growth, Pinkslip etc.<\/p>\n\n\n\n

xDEX pools support pools\nusing 2 templates<\/p>\n\n\n\n

Template A,\nAltcoin-ETH-DAI-XDEX=32%:32%:32:4%<\/p>\n\n\n\n

Template B, you can see\nDEXes\/NFTs\/Aggregators\/StableCoins\/Lendings coins along circles and along axis.\nAlong the circles we have ETF funds of different marketcap, Along the axes we\nhave ETF funds of different industry.<\/p>\n\n\n\n

Thus we call this\nmulti-asset DEX as spider net topology, Instead of star like topology of\nUniswap, trading routes are shortened.<\/p>\n\n\n\n

Turbulence Wang:<\/strong><\/p>\n\n\n\n

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

One more important\nprogress we\u2019ve made is pool deduplcation for multi-asset pool model. You can\ncheck Kyber \/ Balancer pools , many different pools have similar tokens, so the\nliquidity is fragmented into different pools. User experience is degraded for\nslippage is higher if we do no pool dedup.<\/p>\n\n\n\n

Mary\n| Satoshi Club:<\/strong> Impressive!<\/p>\n\n\n\n

Turbulence\nWang:<\/strong> Certainly, pool dedup work is by default done by\nUniswap. So xDEX is featured with: Shortened routes, together with pool\ndeduplication.<\/p>\n\n\n\n

Once liquidity is merged\nrather than fragmented, you can see the overall Turn Over Ratio (Daily Exchange\nVolume \/ Total Value Locked) is higher. For some certain pools in\nKyber\/Balancer, this index shows a pretty good liquidity. In most pools, this\nindex falls much lower than Uniswap.<\/p>\n\n\n\n

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

Another way to optimize\nslippage is constraining asset weights.<\/p>\n\n\n\n

We\u2019ve observed that many\npools in Balancer is 98%:2% which almost provide no liquidity.<\/p>\n\n\n\n

Keeping the weights\nbalanced in the first hand could enhance the turnover ratio, and one step\nfurther, if weights ratio are integers, we adjusted the code by a little so\nthat solidity codes will be executed with lower gas amount.<\/p>\n\n\n\n

\u00a0\"\"<\/p>\n\n\n\n

Finally, we think\n1inch.exchange understand traders very well \u2013 They do abstractions for\ndifferent trading scenarios, to save gas for users, or to give users chances to\ntrade under lowest slippage.<\/p>\n\n\n\n

xDEX tackled crypto\ntrading scenarios case by case, and optimize certain scenarios for altcoin\ntraders:<\/p>\n\n\n\n

D.\n| Satoshi Club:<\/strong>[ 👍 Sticker ]<\/p>\n\n\n\n

Turbulence\nWang:<\/strong> Alt\/Mainstream, Alt\/Alt scenarios are optimized in\ntheir own scenarios.<\/p>\n\n\n\n

ETH\/DAI trading remains\nthe same as ordinary DEXes<\/p>\n\n\n\n

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

So If you still have\nquestions about in what aspects xDEX differs from other DEXes, plz save this\ntable:<\/p>\n\n\n\n

Here are some hints about\nhow a solidity programmer or a scientist to save gas in their  works<\/p>\n\n\n\n

xDEX will keep\npermissionless and trustless.<\/p>\n\n\n\n

… and also enhance user\nexperience.<\/p>\n\n\n\n

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

We cherish our core\nusers, especially for traders. Here is a diagram depicting the interactions\nbetween different user groups. As we can see, altcoin traders, portfolio\nholders, token issuers and DAO participants are all welcomed in this ecosystem.<\/p>\n\n\n\n

Anyone familiar with DeFi\nfarming will digest this diagram in 10 sec \ud83d\ude42<\/p>\n\n\n\n

\u00a0\"\"<\/p>\n\n\n\n

Here are some statistics,\ndirty data removed. More than 10k old addresses experience our products.<\/p>\n\n\n\n

XDEFI Official website:\nhttps:\/\/xdefi.com\/<\/p>\n\n\n\n

White paper:\nhttps:\/\/docs.xdefi.com\/cn<\/p>\n\n\n\n

Referral Invitation:\nhttps:\/\/activity.kovan.xdefi.com\/referrer<\/p>\n\n\n\n

GitHub:\nhttps:\/\/github.com\/xdefilab <\/p>\n\n\n\n

Telegram CH\nhttps:\/\/t.me\/xdeficn<\/p>\n\n\n\n

Telegram EN\nhttps:\/\/t.me\/xdefilab<\/p>\n\n\n\n

Medium\nhttps:\/\/medium.com\/@xdefilab<\/p>\n\n\n\n

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

So … welcome<\/p>\n\n\n\n

Mary\n| Satoshi Club:<\/strong> Wow, excellent introduction 👏👏👏<\/p>\n\n\n\n

Thank you for this!<\/p>\n\n\n\n

D.\n| Satoshi Club:<\/strong> thank you! i think this is the most\nimpressive intro we ever had in Satoshi Club 😄<\/p>\n\n\n\n

Turbulence\nWang:<\/strong> We will launch on Ethereum blockchain first. Some of\nour testnet users complain about gas consumptions on ETH… They urged us to\ndeploy our projects on EVM chains like BSC. <\/p>\n\n\n\n

Yes, we\u2019ve already got a\nplan, stay tuned for the official announcements.<\/p>\n\n\n\n

Turbulence Wang:<\/strong> <\/p>\n\n\n\n

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

We won’t issue more\ntokens but will use cross-chain bridge solutions.<\/p>\n\n\n\n

D.\n| Satoshi Club:<\/strong> this is will be a very nice upgrade 👍<\/p>\n\n\n\n

Turbulence Wang:<\/strong><\/p>\n\n\n\n

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

And one more thing… plz play around on our multi vesting tool,<\/p>\n\n\n\n

xHalfLife Protocol is\nalready used in our financing activities. All investors have 80% tokens vested\nin smart contract, and this part will be unlocked block by block. The speed is\nexponentially decaying.<\/p>\n\n\n\n

Mary\n| Satoshi Club:<\/strong> Thanks! A lot of useful info!<\/p>\n\n\n\n

Turbulence\nWang:<\/strong> Different from all other competitors, xHalfLife is\nrepetitively refundable.<\/p>\n\n\n\n

Mary\n| Satoshi Club:<\/strong> We will have question about xHalfLife\nfrom our member later😉<\/p>\n\n\n\n

Turbulence Wang:<\/strong>Plz play around on halflife.kovan.xdefi.com ( so you won’t spend true gas :):):) )<\/p>\n\n\n\n

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

Turbulence\nWang:<\/strong> Sure. Sablier Protocol is adopted by Sushi and\nVesper, but think about a refundable money stream!<\/p>\n\n\n\n

We’ve still got tons of\nwork to do in the next 6 months, but xDEX, xHalfLife will launch soon.<\/p>\n\n\n\n

Mary\n| Satoshi Club:<\/strong> We definitely will wait for the launch!<\/p>\n\n\n\n

Turbulence\nWang:<\/strong> If anyone is interested in any part about our\nprojects, ask us anything here & now , anything on twitter and discord \ud83d\ude42<\/p>\n\n\n\n

OK we can start Q&A\nnow \ud83d\ude42 I’m happy to have this chance sharing our ideas.<\/p>\n\n\n\n

@madamlobster\n@Cool_as_Ice<\/p>\n\n\n\n

Mary\n| Satoshi Club:<\/strong> Let’s go 🚀 and thank you for intro one more\ntime 👏<\/p>\n\n\n\n

Q1 from Telegram\nUser @Korryl<\/em><\/strong><\/p>\n\n\n\n

I read that the protocol\nstack of xDeFi was launched on the Ethereum Kovan testnet and now already\nfinish. Can you share the detail of xDeFi test in Kovan testnet, is it success\nwith no bug? What are your plans after successfully carrying out this test,\nwill there be further tests with more activity reward to user or xDeFi will\nlaunching immediately?<\/strong><\/p>\n\n\n\n

Turbulence\nWang:<\/strong> In 2 rounds of Kovan testnets we collected many\naround 80 bugs, less in contracts, much in frontend.<\/p>\n\n\n\n

Mary\n| Satoshi Club:<\/strong> But this round is still alive, right?<\/p>\n\n\n\n

Turbulence\nWang:<\/strong> After 2nd testnet ended at Mar.10.2021, we tested our\nprojects 3 more rounds to tackle problems.<\/p>\n\n\n\n

Our code auditors put\ntheir effort mainly on Solidity contracts, we still have more to fix and\ncooperate with our auditors to give out their final opinions.<\/p>\n\n\n\n

Thank you.<\/p>\n\n\n\n

As soon as we are given a\nfinal opinion of “low risk” for our newest version we will launch our\nprojects.<\/p>\n\n\n\n

Mary\n| Satoshi Club:<\/strong> But do you have approximate dates?<\/p>\n\n\n\n

Turbulence\nWang:<\/strong> No 2nd round is ended. Team tested products for 3\nmore rounds for our own usage<\/p>\n\n\n\n

in 1-2 weeks \ud83d\ude42<\/p>\n\n\n\n

Mary\n| Satoshi Club:<\/strong> Wow, almost here🚀<\/p>\n\n\n\n

Thank you for your\nanswers! Ready to proceed?<\/p>\n\n\n\n

Turbulence\nWang:<\/strong> Cool<\/p>\n\n\n\n

Q2 from Telegram\nuser @Antoni_azx<\/em><\/strong><\/p>\n\n\n\n

XDefi smart contracts has\npassed two auditions, one by Certik and one by SlowMist, so it seems that\neverything is safe and bug-fixed, but what can you tell us about the security\nprotocol of the platform itself? How is the whole infrastructure safe from\nscammers and hackers?<\/strong><\/p>\n\n\n\n

Turbulence\nWang: <\/strong>Nice questions. We will launch xDEX protocols\n(including swap, liquidity, pool proxies), FarmMaster protocol (tokens farmed\nwill be minted) and xHalfLife(vesting), the 3 most important part in our\nproduct.<\/p>\n\n\n\n

CertiK and Slowmist give\nthe audit opinions protocol by protocol.<\/p>\n\n\n\n

Mary\n| Satoshi Club:<\/strong> So, they audited everything?<\/p>\n\n\n\n

Turbulence\nWang:<\/strong> Yes composability sometimes causes risk \u2014 Think about\nFurucombo, Sushi repurchase and Balancer farming. All we can do is testing the\nbehaviours under different corner cases.<\/p>\n\n\n\n

Protocol by protocol<\/p>\n\n\n\n

D.\n| Satoshi Club:<\/strong> will you do another audits before the\nlaunch of mainnet?<\/p>\n\n\n\n

Turbulence\nWang:<\/strong> Everything always kept opensourced on\nhttps:\/\/github.com\/xdefilab<\/p>\n\n\n\n

Mary\n| Satoshi Club:<\/strong> Yes, i remember this accidents<\/p>\n\n\n\n

Turbulence\nWang:<\/strong> Slowmist and CertiK tracked our newer versions,\nresponsible for newest version<\/p>\n\n\n\n

If onchain version\ndifferent from the version they’ve audited, they will give alarms on their\nhomepage to make sure the users are using a safe product.<\/p>\n\n\n\n

Check their homepage to\nmake sure Our newest verion == Version Audited<\/p>\n\n\n\n

Mary\n| Satoshi Club:<\/strong> So, they are tracking projects they were\nauditing?<\/p>\n\n\n\n

Turbulence\nWang:<\/strong> They are working on the diff right now. As long as we\nhave a newer version, we will cooperate with them to review the differences in\ncodes<\/p>\n\n\n\n

Mary\n| Satoshi Club:<\/strong> Gotcha! Thank you!<\/p>\n\n\n\n

Ready to jump to the next\nquestion?😀<\/p>\n\n\n\n

D.\n| Satoshi Club:<\/strong> got it, good to know such nuances 👌<\/p>\n\n\n\n

Turbulence\nWang:<\/strong> This working standard is recommended by all of our\nauditors.<\/p>\n\n\n\n

D.\n| Satoshi Club:<\/strong> thank you for the answer! let’s proceed\nto the third question 😊<\/p>\n\n\n\n

Q3 from Telegram\nuser @garrinepotter<\/em><\/strong><\/p>\n\n\n\n

Tell us about the\neconomic model of the XDEX token. Distribution, blocking and, of course,\ninflation of 19%. Why is inflation so high and what measures are provided to\nreduce it?<\/strong><\/p>\n\n\n\n

Turbulence\nWang:<\/strong>Good question, I happened to organize the detailed\ninfo after our seed round investment closed<\/p>\n\n\n\n

\u00a0\"\"<\/p>\n\n\n\n

From our BP deck<\/p>\n\n\n\n

Take a closer look but\nthere is a newer version in our Discord.<\/p>\n\n\n\n

https:\/\/discord.com\/channels\/752926855736328314\/807533742134132737\/821683118640857089<\/a><\/p>\n\n\n\n

Total: 100M tokens + 19M\ntokens  per year for Farming<\/p>\n\n\n\n

9.6M Stage 1 + 9.6M Stage\n2 + 9.6M Stage 3 + 9.6M Stage 4 + 19M per year for liquidity farming (38.4M +\n19M per year)<\/p>\n\n\n\n

36.6M TVL Milestones<\/p>\n\n\n\n

    – \n0.3M TVL Milestone 1  (TVL 1M) <\/p>\n\n\n\n

    – \n0.3M TVL Milestone 2 (TVL 10M) <\/p>\n\n\n\n

    – \n0.9M TVL Milestone 3 (TVL 100M) <\/p>\n\n\n\n

    – \n2.7M TVL Milestone 4 (TVL 1B) <\/p>\n\n\n\n

    – \n8.1M TVL Milestone 5  (TVL 10B) <\/p>\n\n\n\n

    – \n24.3M TVL Milestone 6 (TVL 100B) <\/p>\n\n\n\n

10M Initial Team<\/p>\n\n\n\n

4M Seed Round Investors,\n$0.24 w\/ Financing  Multi-Sig Account\n0xF529d79e96358d47455451dDC2a2a60BB0CE9e46<\/p>\n\n\n\n

0.58M Kovan Testnet Round\n1, Round2, and Invitation Airdrop<\/p>\n\n\n\n

0.1M  BSC Grant Event Airdrop<\/p>\n\n\n\n

0.225M PentaLaunch IDO<\/p>\n\n\n\n

1.5M Initial Uniswap\nLiquidity<\/p>\n\n\n\n

0.9M Other Initial\nLiquidity<\/p>\n\n\n\n

8.5M Continuous\nFinancing, DAO, and Introducing new partners, Multi-Sig<\/p>\n\n\n\n

Mary\n| Satoshi Club:<\/strong> When you plan to close seed round?<\/p>\n\n\n\n

Turbulence\nWang:<\/strong> Already closed, raised about 90M USD \ud83d\ude42<\/p>\n\n\n\n

not a huge one :):):)<\/p>\n\n\n\n

Mary\n| Satoshi Club:<\/strong> Wow! Congratulations!<\/p>\n\n\n\n

Turbulence\nWang:<\/strong> Total: 100M tokens + 19M tokens  per year for Farming<\/p>\n\n\n\n

D.\n| Satoshi Club:<\/strong> haha nice joke 😁😉<\/p>\n\n\n\n

Turbulence\nWang:<\/strong> 75M + 19M per year are rewarded to LP farming!<\/p>\n\n\n\n

And , information fully\ndisclosed ( even including our multi-sig account!)<\/p>\n\n\n\n

Interesting part is :<\/p>\n\n\n\n

36.6M TVL Milestones<\/p>\n\n\n\n

    – \n0.3M TVL Milestone 1  (TVL 1M) <\/p>\n\n\n\n

    – \n0.3M TVL Milestone 2 (TVL 10M) <\/p>\n\n\n\n

    – \n0.9M TVL Milestone 3 (TVL 100M) <\/p>\n\n\n\n

    – \n2.7M TVL Milestone 4 (TVL 1B) <\/p>\n\n\n\n

    – \n8.1M TVL Milestone 5  (TVL 10B) <\/p>\n\n\n\n

    – \n24.3M TVL Milestone 6 (TVL 100B)<\/p>\n\n\n\n

Mary\n| Satoshi Club:<\/strong> Your plans are as huge as amount you\nraised😉<\/p>\n\n\n\n

D.\n| Satoshi Club:<\/strong> so total supply of token is infinite? if\nim not mistaken<\/p>\n\n\n\n

Turbulence\nWang:<\/strong> 1M-10M easy, 100M-1B a little bit harder, 10B-100B\nDeFi #1<\/p>\n\n\n\n

Inflation rate close to\nEthereum and Filecoin – 19%<\/p>\n\n\n\n

D.\n| Satoshi Club:<\/strong> got it<\/p>\n\n\n\n

Mary\n| Satoshi Club:<\/strong> Thank you for answers! Are you ready for\nthe next question?<\/p>\n\n\n\n

Turbulence\nWang:<\/strong> Eth about 40M in CEX\/DEX es, 5M mined per year, 12%\ninflation. This morning Filecoin announces a halving, 368K per day over 700M\nwhich is also 10-20% inflation. An open system will always welcome the new\ncomers, as long as crypto world grows 30-70% per year. Under 20% is safe.<\/p>\n\n\n\n

Mary\n| Satoshi Club:<\/strong> Nice math😀<\/p>\n\n\n\n

Turbulence\nWang:<\/strong> Much more tokenomics design principles here, hope\nthis to be helpful for others who is designing one\nhttps:\/\/xdefilab.medium.com\/on-design-of-tokenomics-pow-cryptocurrencies-de-fi-tokens-and-xdex-80c71f665dee<\/p>\n\n\n\n

Hope I didn’t do it wrong\nin several seconds lol<\/p>\n\n\n\n

We discussed 10+ Pow\/DeFi\ntokenomics!<\/p>\n\n\n\n

Mary\n| Satoshi Club:<\/strong> No, i got it😂 btw, can you tell\nis it possible that you will also change your tokenomics?<\/p>\n\n\n\n

Turbulence\nWang:<\/strong> Plz take a quick review \ud83d\ude42<\/p>\n\n\n\n

Turbulence\nWang:<\/strong> Tiny adjustments will be done within these 3 parts<\/p>\n\n\n\n

1.5M Initial Uniswap\nLiquidity<\/p>\n\n\n\n

0.9M Other Initial\nLiquidity<\/p>\n\n\n\n

8.5M Continuous\nFinancing, DAO, and Introducing new partners, Multi-Sig<\/p>\n\n\n\n

But numbers won’t vary\ntoo much, 8.5M part will used for 2 more rounds of continuous financing . About\n1.5+0.9 will be responsible for initial liquidity<\/p>\n\n\n\n

9.6M Stage 1 + 9.6M Stage\n2 + 9.6M Stage 3 + 9.6M Stage 4 + 19M per year for liquidity farming (38.4M +\n19M per year)<\/p>\n\n\n\n

36.6M TVL Milestones<\/p>\n\n\n\n

    – \n0.3M TVL Milestone 1  (TVL 1M) <\/p>\n\n\n\n

    – \n0.3M TVL Milestone 2 (TVL 10M) <\/p>\n\n\n\n

    – \n0.9M TVL Milestone 3 (TVL 100M) <\/p>\n\n\n\n

    – \n2.7M TVL Milestone 4 (TVL 1B) <\/p>\n\n\n\n

    – \n8.1M TVL Milestone 5  (TVL 10B) <\/p>\n\n\n\n

    – \n24.3M TVL Milestone 6 (TVL 100B) <\/p>\n\n\n\n

10M Initial Team<\/p>\n\n\n\n

4M Seed Round Investors,\n$0.24 w\/ Financing  Multi-Sig Account\n0xF529d79e96358d47455451dDC2a2a60BB0CE9e46<\/p>\n\n\n\n

0.58M Kovan Testnet Round\n1, Round2, and Invitation Airdrop<\/p>\n\n\n\n

0.1M  BSC Grant Event Airdrop<\/p>\n\n\n\n

0.225M PentaLaunch IDO<\/p>\n\n\n\n

Mary\n| Satoshi Club:<\/strong> With this numbers i need more time😂<\/p>\n\n\n\n

Turbulence\nWang:<\/strong> These will remain unchanged … The reason we won’t\nmodify these parts : We’ve already tested the economic system robustness in 1st\nround of testnet.<\/p>\n\n\n\n

Mary\n| Satoshi Club:<\/strong> But i am sure you prepared perfectly 😀<\/p>\n\n\n\n

Turbulence\nWang:<\/strong> Yes we do. We make assumptions, we prove some in\nTestnet activities.<\/p>\n\n\n\n

Vesting helps so much in\nkeeping the price go smoothly \u2014 But our vesting period is much shorter than\nSushi farming \/ Filecoin mining<\/p>\n\n\n\n

Mary\n| Satoshi Club:<\/strong> I wish you that everything went as\nplanned and tested!🚀👏<\/p>\n\n\n\n

Turbulence\nWang:<\/strong> Thank you!<\/p>\n\n\n\n

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

There is an initiative\nyou borrowed from Half life principle of radioactive elements which you called\nxHalfLife. You said xHalfLife is a better alternative to token vesting as it\nwill offer effective and equity distribution of tokens which can be helpful in\ncase of emergency which require emergency withdrawal. What model will xHalfLife\nbe using to offer a slow at the same time fast method of unlocking equity which\nusers can use to improve their lives? How are users funds categorised into\ndelayed income and recorded income and for what purpose is this division?<\/strong><\/p>\n\n\n\n

Mary\n| Satoshi Club:<\/strong> Where we will be able to trade your\ntokens?<\/p>\n\n\n\n

Turbulence\nWang:<\/strong> Uniswap, and our own xDEX.<\/p>\n\n\n\n

Mary\n| Satoshi Club:<\/strong> 👍<\/p>\n\n\n\n

Turbulence\nWang:<\/strong> Professional question.<\/p>\n\n\n\n

The reasons we choose\nHalflife: 1.  Half-life means (faster in\nthe early stage, later in the latter stages). Instead of 1-time linear vesting\nused in payroll, Half-life is designed for stock\/share\/token vesting.\nStocks\/Shares\/Tokens are to be expected to goes higher right? In the latter\nstage, the token price also goes up too. As long as the incentives are not\nstablecoins, you can expect the exact value this halflife is emitting is\nsmooth.<\/p>\n\n\n\n

Less amount emitting with\na higher price  = stable in value.<\/p>\n\n\n\n

Hope I made this clear.<\/p>\n\n\n\n

Mary\n| Satoshi Club:<\/strong> So, you’re sure that token price will\nonly get go higher?😀<\/p>\n\n\n\n

Turbulence\nWang:<\/strong> 2. xHalfLife stream is refundable, it’s very\ndifferent from 1-time linear stream. Project founders incentivized colleages\nrepetitively. Halflife pattern is the only way to save tons of gas, or you will\ncreate many streams. If you adjust linear streams as refundable, keeping track\non history is much more expensive.<\/p>\n\n\n\n

The 2 reasons are the\nmajor reasons.<\/p>\n\n\n\n

https:\/\/xdefilab.medium.com\/xhalflife-protocol-smart-contract-for-vesting-e5ee49857421<\/a><\/p>\n\n\n\n

Please spend a little\ntime on this topic<\/p>\n\n\n\n

Mary\n| Satoshi Club:<\/strong> Ok, it needs more time than some seconds\nwhich i have now😂\nbut as i see the timeframe is from 2020, right?<\/p>\n\n\n\n

D.\n| Satoshi Club:<\/strong> will you planning to add any deflationary\nmechanism? token burning is a kinda popular strategy nowadays 🔥 😇<\/p>\n\n\n\n

Turbulence\nWang:<\/strong> If token issues have strong token management and\nstrong execution power, it will. Please take a look at $NVDA and $MSFT. KEEPING\nREPURCHASE is the vital part, and halflife is only a tool.<\/p>\n\n\n\n

Turbulence\nWang:<\/strong> KEEPING REPURCHASE means the BUSINESS is a\ncontinuously profitable one… DEX is.<\/p>\n\n\n\n

Mary\n| Satoshi Club:<\/strong> Got it! Will go through this article one\nmore time after AMA! Thank you!<\/p>\n\n\n\n

Turbulence\nWang: <\/strong>We started to opensource our projects since Sep 2020,\nand I took some time working on Medium<\/p>\n\n\n\n

Woo a tricky one. We\ndon’t want to make obstacles for the new comers, a tiny inflation is good for\nme by now \ud83d\ude42 Burning strategy is cool, if our operating revenue is sufficient\nwe will consider burn the 8.5M part<\/p>\n\n\n\n

We always reward our\nliquidity providers ( this part causes a 19% inflation, don’t be startled).<\/p>\n\n\n\n

Those tokens are not for\nour team \u2014 for expanding the whole ecosystem.<\/p>\n\n\n\n

8.5M part, in our\noriginal plan there will be 2 more rounds of private placement.<\/p>\n\n\n\n

Mary\n| Satoshi Club:<\/strong> Yes, you have a good incentives for your\nliquidity providers😀<\/p>\n\n\n\n

Turbulence\nWang:<\/strong> If 1 round is enough, we shall consider token burning\nstrategy ( in case token hodlers are afraid of dumping)<\/p>\n\n\n\n

Keeping faith is as\nimportant as incentivizing<\/p>\n\n\n\n

Thank you for suggestions\n\ud83d\ude42<\/p>\n\n\n\n

D.\n| Satoshi Club:<\/strong> you are welcome! thank you for the great\nanswers! 😄<\/p>\n\n\n\n

and the next question…<\/p>\n\n\n\n

Q5 from Telegram\nuser @h1drX<\/em><\/strong><\/p>\n\n\n\n

The AMMs have found a\nniche in the DeFi space for their simplicity and ease of use, but can you tell\nus the formula of the protocol that xDefi uses? That is, Uniswap uses x \u00b7 y =\nk, where x is the amount of one token in the liquidity pool, and y is the\namount of the other. In this formula, k is a fixed constant. What is the\nprotocol adapted to xDefi and why did you design it that way?<\/strong><\/p>\n\n\n\n

Turbulence\nWang:<\/strong> x^a*y^b*z^c = k is a natural expansion for Uniswap\nmodel, and the smart ones will notice this is exactly the Balancer\nmodel(Dec.2019, Beta Testing). We respect their efforts on expand the AMM\nborders. I love their products too! These codes can be found in BAL repo and\nour repo, we think the math model is good enough, but there’s clearly much\nspace to optimize if c\/a is decimal or a large integer. As I mentioned\naccording to the deck, c\/a will be “small integers”, saving gas, and\nreducing slippage.<\/p>\n\n\n\n

Hope I made this clear \ud83d\ude42\nWe respect all the works that Uniswap and Balancer achieved, they are pioneers.<\/p>\n\n\n\n

Mary\n| Satoshi Club:<\/strong> Who made all this math?😀<\/p>\n\n\n\n

You?<\/p>\n\n\n\n

D.\n| Satoshi Club:<\/strong> i hope techies happy with that answer 😄<\/p>\n\n\n\n

Turbulence\nWang:<\/strong> No, the first one made it clear is Fernado Martellini\n@ BalancerLabs \ud83d\ude42<\/p>\n\n\n\n

Mary\n| Satoshi Club:<\/strong> I am really interested how many talented\npersons in your team)<\/p>\n\n\n\n

Turbulence\nWang:<\/strong> A very natural expansion on Uniswap and the idea is\nsuper cool<\/p>\n\n\n\n

Mary\n| Satoshi Club:<\/strong> I mean all math for XDEFI😉<\/p>\n\n\n\n

Turbulence\nWang:<\/strong> Gas saving part, me and our CTO \ud83d\ude42<\/p>\n\n\n\n

Mary\n| Satoshi Club:<\/strong> Applouds 👏<\/p>\n\n\n\n

Turbulence\nWang:<\/strong> Tokenomics part by me and all the things packed up by\nCTO … He’s familiar with EOS\/Solidity\/Substrate dev<\/p>\n\n\n\n

We solve very special\ntopics that other teams won’t meet… like gas saving on xHalfLife. Generally\nspeaking,  functions like sqrt(x) given\nby Uniswap and x to the a th power x^a given by Balancer has almost no space to\noptimize.. These are basic functions. Gnosis team and OpenZeppellin team also\nspend huge amount of time working on solidity math libraries.<\/p>\n\n\n\n

Mary\n| Satoshi Club:<\/strong> It’s one of the most professional done\ntokenomics i have ever seen 😉<\/p>\n\n\n\n

And just one 6th question\nfrom this part left 😉\nready?<\/p>\n\n\n\n

Turbulence\nWang:<\/strong> I’m OK with the next one \ud83d\ude42<\/p>\n\n\n\n

Q6 from Telegram\nuser @yellowchamp<\/em><\/strong><\/p>\n\n\n\n

One of your Long-term\ntopic is an xNFTEX in which NFT traded through AMM. So, can you tell us how\ndoes xNFTEX works? As NFT traded through AMM, what underlying risk we can\nexpect from it? In other way, what advantage when NFT traded through AMM in\nXDefi platform?Thank you<\/strong><\/p>\n\n\n\n

D.\n| Satoshi Club:<\/strong> NFTs 🚀🚀🚀<\/p>\n\n\n\n

Turbulence\nWang:<\/strong> Let’s start mindstorming!<\/p>\n\n\n\n

\nhttps:\/\/xdefilab.medium.com\/on-knapsack-problems-auction-mechanisms-and-nft-standards-39438d48898d\n<\/div><\/figure>\n\n\n\n

I shared very limited\nideas about NFT liquidity. In the medium article, I mentioned several projects:<\/p>\n\n\n\n

1. Unisocks: Socks\nauctioning at a Uniswap bonding curve. $100K per pair of socks to redeem this\nis INSANE!<\/p>\n\n\n\n

D.\n| Satoshi Club:<\/strong> haha yeah 😄<\/p>\n\n\n\n

Mary\n| Satoshi Club:<\/strong> Ok, let’s go from this side😂 you’re great in\nmath and another complex things😉<\/p>\n\n\n\n

Explain in simple words\nhow this will work😀<\/p>\n\n\n\n

For example, Mary want to\nsell NFT<\/p>\n\n\n\n

Turbulence\nWang:<\/strong> 2. NFTX: A very active project cooperating with Axie\nNFTs and …. the famous HashMask project. HashMask are opened from Gatchas\nrandomly, but in NFTX, HashMasks are repacked to Gatchas, and the price is\nstill… 1.7ETH. About 800 Hashmask repacked Gatchas, all at 1.7ETH. NFTX shows\na potential power in providing NFT liquidity<\/p>\n\n\n\n

Think about a token\nissued with 0 digit in decimal … Theoretically, easy for Uniswap<\/p>\n\n\n\n

and technically, a little\nbit harder for us but still OK<\/p>\n\n\n\n

A concept is given in\nhttps:\/\/xdefilab.medium.com\/on-knapsack-problems-auction-mechanisms-and-nft-standards-39438d48898d\nand I will copy a chapter here in this <\/p>\n\n\n\n

in this tg channel<\/p>\n\n\n\n

4 A Liquidity Design\nProposed by xDeFiLabs<\/p>\n\n\n\n

After referring to\nUniSocks, Perpetual Protocol, NFTX, and other projects, xDeFiLabs proposed a\ndemo of the NFT Gatcha first-time auction system based on vAMM:<\/p>\n\n\n\n

4.1 Mathematical model:<\/p>\n\n\n\n

(vaE+ aE) * (aG+vaG) = C<\/p>\n\n\n\n

4.2 Uniswap-style pool\nsetup:<\/p>\n\n\n\n

One side is the Ethereum\npool, with Etherum amount aE.<\/p>\n\n\n\n

There is also a number of\nvirtual Ethereum of amount vaE.<\/p>\n\n\n\n

On the other side is the\nNFT list. The composition of the list is {sold NFTs (wish list)}, and {unsold\nNFTs}. The length of the list is determined when initialized. {unsold NFTs}\namount aG participates in the calculation, and the initial status of {sold NFTs\n(wish list)} is the empty set.<\/p>\n\n\n\n

There is also a vaG\nparameter, the number of virtual Gatchas.<\/p>\n\n\n\n

C is the constant\nproduct.<\/p>\n\n\n\n

4.3 Bonding Curve<\/p>\n\n\n\n

If a pool is initiated in\nthe way that 4.1 and 4.2 proposed, gatcha price will go up (increasing marginal\ncost). Considering a relatively fair auction, the price of the last Gatcha in\nthe pool will not be too expensive.<\/p>\n\n\n\n

4.4 An Example:<\/p>\n\n\n\n

Gatcha ask and bid prices\nwill be discrete:<\/p>\n\n\n\n

Ask price:<\/p>\n\n\n\n

C\/(aG+vaG-1)-C\/(aG+vaG)<\/p>\n\n\n\n

Bid price:<\/p>\n\n\n\n

C\/(aG+vaG)-C\/(aG+vaG+1)<\/p>\n\n\n\n

With some initial\nparameters setup:<\/p>\n\n\n\n

1st Gatcha price fp=\n~0.25ETH<\/p>\n\n\n\n

Highest Gatcha price hp =\n~1ETH<\/p>\n\n\n\n

Initial aE = 0<\/p>\n\n\n\n

Initial aG = 100<\/p>\n\n\n\n

Virtual amount parameters\nwill be deducted as:<\/p>\n\n\n\n

vaG = sqrt(ep\/sp) *\nInitial aG \u2014 Initial aG = 100<\/p>\n\n\n\n

vE = (Initial aG +vaG)*fp\n= 50<\/p>\n\n\n\n

C = vaE * (Initial aG\n+vaG) = 10000<\/p>\n\n\n\n

Each time a Gatcha is\nbough from, or sold back to this pool, ask and bid price will shift\naccordingly.<\/p>\n\n\n\n

4.5 Smart Contract\nStructure:<\/p>\n\n\n\n

A A pool of ETH<\/p>\n\n\n\n

B An ordered dictionary\nof ERC721, which records sold\/unsold Gatcha status<\/p>\n\n\n\n

C Parameters<\/p>\n\n\n\n

D Contract calculating\nask\/bid logic, refer to Uniswap<\/p>\n\n\n\n

E The confidential\ncontracts and necessary random number generators.<\/p>\n\n\n\n

F A front-end displaying\nnecessary information.<\/p>\n\n\n\n

The long-tail liquidity\nof the NFT marketplace will be stimulated, instead of an \u201cArt Hype\u201d, this setup\nis close to the logic of Italian art collectors to trade any possible\ncombination of the collection in their community.<\/p>\n\n\n\n

Okay a little bit\nverbose. The most important part is 4.5.E The confidential contracts and\nnecessary random number generators. For example.. I’m a MTG fans (Magic the\nGathering), if I want to exchange a planeswalker “Jace Beleren” out,\nI won’t be happy to receive an ordinary card. Maybe I’m happy with another card\nof extreme scarcity “Garruk”<\/p>\n\n\n\n

How can we keep some of\nthe information on NFT to be confidential, and other info revealed?<\/p>\n\n\n\n

D.\n| Satoshi Club:<\/strong> yes, how?<\/p>\n\n\n\n

Turbulence\nWang:<\/strong> NFTX and Muse gave out simple answers. We will keep\nresearch on that.<\/p>\n\n\n\n

Through another NFT\nstandard, maybe<\/p>\n\n\n\n

NFT has to reveal some of\ntheir information partially, to ensure “rare card for rare card”<\/p>\n\n\n\n

This must be ensured. in\nNFTX the information is manually collected.<\/p>\n\n\n\n

Mary\n| Satoshi Club:<\/strong> Oh, i am starting to understand 😂<\/p>\n\n\n\n

Turbulence\nWang:<\/strong> We’re working on this one…<\/p>\n\n\n\n

D.\n| Satoshi Club:<\/strong> so you are working on a new NFT standard?\n😉<\/p>\n\n\n\n

Turbulence\nWang:<\/strong> Rare card for rare card, you’ll get a market with\nhigher liquidity since “NFTs are classified by their levels of value”<\/p>\n\n\n\n

Mary\n| Satoshi Club:<\/strong> In simple words it means that i will be\nable to exchange one class nft for another with the same class, right?<\/p>\n\n\n\n

Turbulence\nWang:<\/strong> Not now, we get tons of work to do on xDEX🤣\nxNFTEX is really about a concept now. We collected some information about\ntrading platforms, different standards on NFTs, and other technical topics like\n“order preserving encryption on solidity”<\/p>\n\n\n\n

Right.<\/p>\n\n\n\n

D.\n| Satoshi Club:<\/strong>  [ 👍 Sticker ]<\/p>\n\n\n\n

Turbulence\nWang:<\/strong> Search “order preserving encryption on\nsolidity” and Google gave me nothin😅 have to seek cooperation with other\nteams working on privacy stuff<\/p>\n\n\n\n

😅<\/p>\n\n\n\n

Mary\n| Satoshi Club<\/strong>: This it what i have not seen yet, but i\ndon’t have doubts that we will see with your help!<\/p>\n\n\n\n

Turbulence\nWang:<\/strong> Will keep research on that!<\/p>\n\n\n\n

Mary\n| Satoshi Club:<\/strong> Give some topics to be covered for Google\n😂<\/p>\n\n\n\n

Turbulence\nWang:<\/strong> 😂<\/p>\n\n\n\n

Mary\n| Satoshi Club:<\/strong> Thank you for your answers! It was really\ngreat!<\/p>\n\n\n\n

D.\n| Satoshi Club:<\/strong> indeed!<\/p>\n\n\n\n

i think now it’s time for\nthe second part of AMA😇<\/p>\n\n\n\n

Mary\n| Satoshi Club:<\/strong> I think a small storm from our users\nwon’t scare you😂<\/p>\n\n\n\n

Turbulence\nWang:<\/strong> I feel happy to have this chance sharing our ideas<\/p>\n\n\n\n

Turbulence\nWang:<\/strong> It’s Okay 🤣<\/p>\n\n\n\n

Mary\n| Satoshi Club:<\/strong> 👍<\/p>\n\n\n\n

D.\n| Satoshi Club:<\/strong> @tturbulence_xDeFiLabs big thank you for\nanswers in part 1! we will open chat for 2 minutes, after chat will be closed –\nyou can start select questions from Satoshi \u0421lub members!<\/p>\n\n\n\n

Mary\n| Satoshi Club:<\/strong> Let’s go 🚀<\/p>\n","protected":false},"excerpt":{"rendered":"

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 XDEFI and our guest was Turbulence Wang. The AMA took place on 17th  March. The AMA session was divided into 3 parts with a total crypto reward pool of 500$ […]<\/p>\n","protected":false},"author":66,"featured_media":6995,"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\/7123"}],"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\/66"}],"replies":[{"embeddable":true,"href":"https:\/\/satoshi-club.esipick.com\/index.php\/wp-json\/wp\/v2\/comments?post=7123"}],"version-history":[{"count":5,"href":"https:\/\/satoshi-club.esipick.com\/index.php\/wp-json\/wp\/v2\/posts\/7123\/revisions"}],"predecessor-version":[{"id":7150,"href":"https:\/\/satoshi-club.esipick.com\/index.php\/wp-json\/wp\/v2\/posts\/7123\/revisions\/7150"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/satoshi-club.esipick.com\/index.php\/wp-json\/wp\/v2\/media\/6995"}],"wp:attachment":[{"href":"https:\/\/satoshi-club.esipick.com\/index.php\/wp-json\/wp\/v2\/media?parent=7123"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/satoshi-club.esipick.com\/index.php\/wp-json\/wp\/v2\/categories?post=7123"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/satoshi-club.esipick.com\/index.php\/wp-json\/wp\/v2\/tags?post=7123"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}