📣MB Blockchain community vn AMA with DEXG
MBBCBLOCKCHAIN community is hosting AMA with DEXG https://t.me/Mbbcblockchaincrews
Time 🕖AMA: Monday, October 29, 2020 || 20:30 PM UTC+7) 13:30(UTC)
Part 1: Introduction to the DEXG project
🇻🇳 Moon Sky 🇻🇳, [29.10.20 20:29]
1 minutes left will start ama with DEXG
🇻🇳 Moon Sky 🇻🇳, [29.10.20 20:30]
We really appreciate your coming to AMA today, to tell our community about DEXG❤️ @AlistorZimon
Zim, [29.10.20 20:31]
[Trả lời 🇻🇳 Moon Sky 🇻🇳]
Hey! Very glad to be here. Been looking forward to this AMA. 😊
🇻🇳 Moon Sky 🇻🇳, [29.10.20 20:32]
[Trả lời Zim]
Good ❤️
🇻🇳 Moon Sky 🇻🇳, [29.10.20 20:32]
So before we start, can you please introduce yourself to the our community?😇
Zim, [29.10.20 20:34]
[Trả lời 🇻🇳 Moon Sky 🇻🇳]
Sure!
First of all, thanks again for having us here on MB BC BLOCKCHAIN! Sadly, our Community Manager @itsmichel couldn’t make it last minute due to some personal events.
I’ve been into finance and trading ever since the financial crisis in 2008, naturally the rise of Bitcoin drew me in to the cryptocurrency space around 2013. Since then I’ve been involved in different kinds of communities and worked with a series of projects. Since August 2020 I’m with the DEXToken Protocol Team in the position of Business Development.
🇻🇳 Moon Sky 🇻🇳, [29.10.20 20:37]
[Trả lời Alexander Phúc]
Oh would you please introduce your project?
Zim, [29.10.20 20:41]
[Trả lời Alexander Phúc]
Put into one sentence: The DEXToken Protocol will enable a new DeFi ecosystem, by creating a unique decentralised exchange and a protocol which allows for interaction of on-chain and IoT like off-chain networks.
Let’s take a look at it a bit closer: At the core of the DEXToken Protocol is the DEXToken Swap Exchange, featuring a brand new AMM technology. This allows our decentralised exchange to have several benefits compared to existing exchanges.
Users on existing decentralised exchanges are facing high slippage and volatility due to the simpler AMM structures. Our AMM solves this effectively by using a volatility-function based formula, decreasing the slippage and volatility effect.
Demonstration Graph (https://dextoken.io/static/img/dextoken/speculative-amm.png)
At the same time our AMM doesn’t rely on external price-oracles and the DEXToken Protocol offers off-chain minting of tokens. The off-chain capabilities potentially offer a faster and cheaper decentralised tradinge expierence, while also being highly useful for enterprise partners to decentralise their processes and link them to decentralised finance applications.
🇻🇳 Moon Sky 🇻🇳, [29.10.20 20:43]
[Trả lời Zim]
Great looks like you’ve got a lot of experience with cryptocurrencies
Zim, [29.10.20 20:44]
[Trả lời 🇻🇳 Moon Sky 🇻🇳]
It has been the passion of the whole team for years. 😊
🇻🇳 Moon Sky 🇻🇳, [29.10.20 20:44]
[Trả lời Zim]
Good. 😇
🇻🇳 Moon Sky 🇻🇳, [29.10.20 20:44]
Okay, let’s get to the next question!
🇻🇳 Moon Sky 🇻🇳, [29.10.20 20:45]
[Trả lời Zim]
Could you please describe what is DEXG in few simple sentences to our Community?
Zim, [29.10.20 20:51]
[Trả lời 🇻🇳 Moon Sky 🇻🇳]
I think a lot of features have been mentioned above already. Breaking it down into simple terms, end users will find a highly capable and cheaper decentralised exchange, which gets rid of a lot of problems current generation exchanges like Uniswap have.
At the same time holders of DEXG will be rewarded with a share of the trading fees generated by trades on the exchange. This way we ensure the decentralisation and that the governance decisions by the holders are only made in a beneficial manner.
Companies meanwhile can use the DEXToken Protocol to decentralise and connect their processes to decentralised finance.
🇻🇳 Moon Sky 🇻🇳, [29.10.20 20:52]
DEXG has some memories in its journey please send it to us
Zim, [29.10.20 20:55]
[Trả lời 🇻🇳 Moon Sky 🇻🇳]
I think it’s important to understand first that the DEXToken Protocol is created by the Flowchain Foundation (http://flowchain.co/). The idea of the DEXToken Protocol originated as part of the Flowchain ecosystem in 2018. In late 2019 we established the ‘Tokenomics Research Center’ (https://www.prnewswire.com/news-releases/asia-pacifics-first-tokenomics-research-center-opens-in-taiwan-300922392.html) in Taiwan in cooperation with the National Taiwan University and National Tsing-Hua University. This research lead to the creation of our unique speculative AMM model.
Fast forward a few months and in mid-2020 the official work on the DEXToken Protocol started. We added the initial 20,000 DEXG tokens on Uniswap and locked them for two years. No Pre-Sale, no ICO. We then went over to distribute the remaining tokens in a fair and decentralised fashion via our staking rounds and here we are, our second staking round just started a few days ago (it’s still possible to join!) and there are more to come. 😊
🇻🇳 Moon Sky 🇻🇳, [29.10.20 20:56]
What are your plans for DEXG in the future?
Zim, [29.10.20 20:59]
[Trả lời 🇻🇳 Moon Sky 🇻🇳]
In the near future we will launch the beta of the DEXToken Swap exchange, which we will subsequently add features on over time. With the mentioned unique features and interconnectivity with the Flowchain architecture, we envision DEXG to become a global player in the field of decentralised finance and IoT.
With the final staking round ending in January 2021, we’ll intensify our efforts to acquire real-world enterprise and business partnerships, but more on that once the time has come. 😉
🇻🇳 Moon Sky 🇻🇳, [29.10.20 21:00]
[Trả lời Zim]
Nice!
🇻🇳 Moon Sky 🇻🇳, [29.10.20 21:00]
Finally, what are the major milestones DEXG achieved so far & what is in the future pipeline?
Zim, [29.10.20 21:03]
[Trả lời 🇻🇳 Moon Sky 🇻🇳]
So, a few aspects are already mentioned in question three, but let’s put it in a timeline:
Pre-Launch:
Tokenised Hardware Whitepaper (2018), Opening of the Tokenomics Research Center (2019), Release of the research results (March 2020)
After the research concluded we started to plan and get to work:
In August 2020 we put 20,000 DEXG on Uniswap and locked them for two years. Our first staking round and the release of the Whitepaper concluded in September and with October we started to migrate liquidity to Balancer and opened the Balancer Shared pool.
With that being said the year holds a few more milestones moving forward:
• November 2020: Third and fourth DEXG staking round
• November 2020: Private Alpha of the DEXToken Swap Exchange
• December 2020: Public Beta of the DEXToken Swap Exchange
• January 2021: The eight and last DEXG staking round concludes
Over the course of 2021 and 2022 the DEXToken Swap exchange will continuously be expanded in functionality, as well as the Protocol will undergo constant development. Our Roadmap can be found in the Whitepaper (https://dextoken.io/assets/DEXToken-Protocol-Whitepaper-1.0-en.pdf) and details this more.
Part 2 : Questions from Twitter: 5 best questions about DEXG (0.5 DEXG/ person)
🇻🇳 Moon Sky 🇻🇳, [29.10.20 21:04]
[Trả lời Zim]
Thanks to ZIM we hope your project grows even stronger
🇻🇳 Moon Sky 🇻🇳, [29.10.20 21:05]
Together we continue to stage 2 we will find and pick 5 best questions on twitter.
🇻🇳 Moon Sky 🇻🇳, [29.10.20 21:05]
Are you ready? @AlistorZimon
Zim, [29.10.20 21:06]
[Trả lời 🇻🇳 Moon Sky 🇻🇳]
Sure, lets start!
🇻🇳 Moon Sky 🇻🇳, [29.10.20 21:06]
[Trả lời Zim]
We start with question 1
🇻🇳 Moon Sky 🇻🇳, [29.10.20 21:06]
[Trả lời Zim]
Q1: What are the major obstacles that you have faced on executing your roadmap and how do you plan to execute your continuing roadmap for this year? @nhpuctraon
Zim, [29.10.20 21:08]
[Trả lời 🇻🇳 Moon Sky 🇻🇳]
Since we are building a completely unique and new codebase for our project, we have to do everything from scratch. In the process of ‘translating’ the math behind the AMM to Ethereum’s solidity code we had to break down complex mathematical concepts into minimal design programming logic to keep it as bug free as possible.
In the process the dev team had to run hundreds of tests to make sure each little code fragment does exactly what it is supposed to do without any interactivity malfunctions. This consumes a lot of time, but thanks to our dedicated and committed developers, who are really going the extra mile for the project, we continue to stay on track with our schedule as outlined in the Roadmap.
🇻🇳 Moon Sky 🇻🇳, [29.10.20 21:09]
It was great and thanks @nhpuctraon for asking a very good question
🇻🇳 Moon Sky 🇻🇳, [29.10.20 21:09]
Let’s go to the next question together!
🇻🇳 Moon Sky 🇻🇳, [29.10.20 21:10]
Q2: Currently, there are quite a few competitors for Defi options. What are DEXG’ competitive advantages? Is there a difference between DEXG and other DeFi projects? @Khangisme1
Zim, [29.10.20 21:12]
[Trả lời 🇻🇳 Moon Sky 🇻🇳]
I think a few of the unique features of the DEXToken Protocol have been outlined in previous questions already, so let me focus on something else here; The team.
Our team really distinguishes us from the majority of DeFi projects. We’ve been successfully working in the field of cryptocurrencies and blockchain for years. With the Flowchain Foundation we are in business for over two years already as a driver of innovation in IoT blockchain in the Asia Pacific region at this point. Our background and the unique stance of not holding a pre-sale or ICO for DEXG proves we are not here to just capitalise on the DeFi market in the short-term, but we are here to build something big.
🇻🇳 Moon Sky 🇻🇳, [29.10.20 21:14]
We continue to question number 3
🇻🇳 Moon Sky 🇻🇳, [29.10.20 21:14]
[ 😆 Nhãn dán ]
🇻🇳 Moon Sky 🇻🇳, [29.10.20 21:15]
Q3: Why is $DEXG not listed on popular exchanges like KuCoin, Gate? @ToEm26503878
Zim, [29.10.20 21:18]
[Trả lời 🇻🇳 Moon Sky 🇻🇳]
So, until decentralised finance applications were possible, projects needed centralized exchanges to be accessible for traders, investors and more. People interested needed to accept the terms and conditions of said exchanges while also being exposed to potential security risks of centralized systems (e.g. this years KuCoin Hack). The times have changed in this regard; DeFi projects need centralised exchanges less than the other way around.
Like CZ stated, exchanges like Binance need to start listing DeFi projects to not lose market shares. Once a project attracts enough volume and interest that a major exchange picks it up, others will follow. I believe the days of projects needing to succumb to the extensive demands and payments demanded by many exchanges to get listed are limited. DeFi projects can exist without them.
In a nutshell that means that we are not actively looking to get DEXG listed on centralised exchanges, however, exchanges might list DEXG on their own behalf when it fits their interests.
🇻🇳 Moon Sky 🇻🇳, [29.10.20 21:19]
[Trả lời Zim]
Thank you, this explanation is easy for the community and investors to understand👍👍
🇻🇳 Moon Sky 🇻🇳, [29.10.20 21:20]
Q4: What is the purpose of breaking the staking process into separate rounds, as opposed to having just had people stake their tokens and letting them sit, as seen with other projects? @coop3200
Zim, [29.10.20 21:22]
[Trả lời 🇻🇳 Moon Sky 🇻🇳]
There are several aspects to this, for one using separate smart contracts allows the staking to adapt to changes in the holder structure and pricing, while at the same time allowing for increased security, on the other side our take on staking is different than usual.
Most projects utilise staking with dynamic APYs depending on how much assets are being staked. So, they use it as a feature generating passive ‘income’ for holders, with the first participants in the staking getting an unfair advantage over the people that join up later.
Our staking primarily targets at a fair distribution of DEXG tokens and as such we continuously want to allow new people to join the staking rounds at fair terms, without incentivising and centralising distribution at the early holders too much.
🇻🇳 Moon Sky 🇻🇳, [29.10.20 21:23]
We start with the last sentence of phase 2
🇻🇳 Moon Sky 🇻🇳, [29.10.20 21:23]
[ 😆 Nhãn dán ]
🇻🇳 Moon Sky 🇻🇳, [29.10.20 21:24]
Q5: Are you planning to promote your project in countries / regions where English is not good? Do you have a local community for them to better understand your project? @XuanKim56
Zim, [29.10.20 21:27]
[Trả lời 🇻🇳 Moon Sky 🇻🇳]
Yes! We are planning to make DEXG and the DEXToken Protocol accessible globally. For this we also need to have localised communities in different languages. For the Vietnamese community we have translated our medium posts and created a dedicated community channel:
Telegram Group: @Dextoken_Vietnam_Official_Group
Announcements: @DEXG_Announcement_Vietnam
Medium: https://medium.com/dextoken-vietnam
More Regions and languages will follow in the near future!
🇻🇳 Moon Sky 🇻🇳, [29.10.20 21:28]
[Trả lời Zim]
Great finished 5th question, I am looking forward to stage 3, are you ready @AlistorZimon
Zim, [29.10.20 21:28]
[Trả lời 🇻🇳 Moon Sky 🇻🇳]
Let’s go ahead. 😊
🇻🇳 Moon Sky 🇻🇳, [29.10.20 21:29]
[Trả lời Zim]
Great
🇻🇳 Moon Sky 🇻🇳, [29.10.20 21:29]
Great finished 5th question, I am looking forward to stage 3!
Part 3: Free — ask: 5 best telegram questions about DEXG (0.5 DEXG/person)
🇻🇳 Moon Sky 🇻🇳, [29.10.20 21:30]
In stage 3, the group will be unlocked for 5 minutes, at which point everyone submitting questions @AlistorZimon will choose the 5 most good questions.
1
2
3
Now!
🇻🇳 Moon Sky 🇻🇳, [29.10.20 21:36]
Too many questions
🇻🇳 Moon Sky 🇻🇳, [29.10.20 21:37]
Now it’s your turn! @AlistorZimon
Zim, [29.10.20 21:41]
That’s a lot of questions!
Hendra sico ©®™, [29.10.20 21:31]
Hi mr. @AlistorZimon
Smart contracts are vulnerable to bugs, and even recently three big new DeFi projects were victims of this, costing users funds. How efficient and secured is your smart contract, and did you ever audit it via any external party?
Officer, [29.10.20 21:31]
🍁 As I am a developer with knowledge of programming languages such as solidity, C ++, Java etc., can I create Dapps on your platform ? And HOW easy to create dapps on you platform???
Huga Mara, [29.10.20 21:35]
Q.Can you explain how is your Tokenomics Distribution? How many tokens Will be minted ? And How many tokens Will be locked by the team?
Oh No, [29.10.20 21:35]
Currently, Asian attaches great importance to Blockchain technology, is this a great opportunity for DEXG ? How is the DEXG project planned to develop in Asian?
Phước Sang, [29.10.20 21:35]
what companies are you partnered with or seeking to partner with in future ?
Zim, [29.10.20 21:44]
[Trả lời Hendra sico ©®™]
We got a large team of developers performing internal audits on every change of code. However, we are also cooperating with external security audit partners. Our Staking smart contract has been audited by Pessimistic and came back without any larger security issues. The report can be viewed here (https://dextoken.io/assets/DEXG_Security_Audit_Report.pdf).
Our decentralised exchange will go into private alpha in November, allowing external developers and security auditors to check on it for bugs and exploits. With the public beta, we are going to employ a bug-hunt strategy, rewarding people that report bugs to our development team.
Security and functionality are our highest concern, not only to protect our brand and protocol, but also the funds of investors.
🇻🇳 Moon Sky 🇻🇳, [29.10.20 21:45]
Great!
🇻🇳 Moon Sky 🇻🇳, [29.10.20 21:46]
Congratulations @Hendrasico for winning question 1!
Zim, [29.10.20 21:47]
[Trả lời Huga Mara]
The total supply of DEXG will be determined by our staking rounds, so I can’t give you an exact number on this right now since we will see it go down further until January 2021. However, it’s safe to say there won’t be more than 80,000 DEXG in total. This includes the 10% DEXG locked up for the team.
You can view our supply model in more detail here.
(https://medium.com/dextoken-vietnam/c%C6%A1-ch%E1%BA%BF-%C4%91%E1%BA%B7t-c%C6%B0%E1%BB%A3c-v%C3%A0-cung-c%E1%BA%A5p-dexg-d6d071d9b91f)🇻🇳 Moon Sky 🇻🇳, [29.10.20 21:48]
[Trả lời Huga Mara]
Congratulations @Sonjou99 on winning the next question !!
Zim, [29.10.20 21:51]
[Trả lời Oh No]
Since our company, the Flowchain Foundation is based in Singapore and has it’s root in Taiwan, we are in a good position to work with the Asian Blockchain communities like MB BC Blockchain. Our focus already has been on Taiwan and China, but we are strengthening our ties to all major Asian regions currently. 😊
🇻🇳 Moon Sky 🇻🇳, [29.10.20 21:52]
[Trả lời Oh No]
Congratulations @Nauiysd on winning question 3 !!
Zim, [29.10.20 21:55]
[Trả lời Officer]
We are starting to release the developer documentation soon, so people participating in the private alpha and public beta can get an in-depth look on the codebase and protocol functionality.
Since we are building on top of Ethereums ERC-20, creating a dApp and connecting it with DEXG is as hard or easy as any other ERC-20 interoperability. Since we are coming closer to the public beta, I hope we will see you participating in our bug-hunt to show us your talents! 😉
🇻🇳 Moon Sky 🇻🇳, [29.10.20 21:56]
Congratulations @laveldawn on winning question 4 !!
🇻🇳 Moon Sky 🇻🇳, [29.10.20 21:59]
And this is the last question😇
Zim, [29.10.20 21:59]
[Trả lời Phước Sang]
I can’t comment too much on this due to existing NDA agreements. I can hint that we are in talks with real economy companies in the Asia Pacific region to integrate DEXG though. Details on this can’t be released until Q1 2021, but we are excited. 😊
🇻🇳 Moon Sky 🇻🇳, [29.10.20 22:00]
Congratulations @Sangdz on winning question 5 !!❤️❤️❤️
🇻🇳 Moon Sky 🇻🇳, [29.10.20 22:02]
[Trả lời Zim]
Do you have anything left to say to our community at the end?
Zim, [29.10.20 22:04]
[Trả lời 🇻🇳 Moon Sky 🇻🇳]
It has been a pleasure to have the AMA here. Some very interesting and critical thinking questions, I enjoyed it a lot. Thanks to everyone that participated.
I hope to see many of you in our community again and learn more about DEXG! 😊
🇻🇳 Moon Sky 🇻🇳, [29.10.20 22:06]
[Trả lời Zim]
Can you send your group project link to everyone here?🥰
Zim, [29.10.20 22:07]
[Trả lời 🇻🇳 Moon Sky 🇻🇳]
Sure! 😊
Website: https://dextoken.io
Telegram Group: @Dextoken_Vietnam_Official_Group
Announcements: @DEXG_Announcement_Vietnam
Medium: https://medium.com/dextoken-vietnam
🇻🇳 Moon Sky 🇻🇳, [29.10.20 22:08]
[Trả lời Zim]
Thanks you
🇻🇳 Moon Sky 🇻🇳, [29.10.20 22:09]
Time has been too long, it is time we need the group to work normally @AlistorZimon 😇
🇻🇳 Moon Sky 🇻🇳, [29.10.20 22:09]
See you again
So the AMA DEXG at MB BC BLOCKCHAIN (MBBC) is also coming to an end. Hopefully in this direct exchange, the community has a basic understanding of the DEXG project.
Thanks Alistor Zimon and @itsmichel for joining AMA with the MB BC Community today. Wish you much health and success.
Again, don’t forget to join the DEXG Community for further assistance. Thanks everyone.
Feel Free To Join Our Local Community!
Vietnam 🇻🇳 : https://t.me/Dextoken_Vietnam_Official_Group
Global: https://t.me/Dextoken_Official_Group
3. Theo dõi Twitter
https://twitter.com/dextokeng
4.Website: https://flowchain.co/dextoken.html
5.Medium: https://medium.com/dextoken-vietnam
MB BC BLOCKCHAIN Community Information:
Group telegram: https://t.me/Mbbcblockchaincrews
Channel telegram: https://t.me/MBBCBLOCKCHAINCHANNEL
Twitter: https://twitter.com/mbbcblockchain