DEXToken: Community AMA September 2020

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We received so many quality questions from our community AMA with Jollen Chen that we had a hard time choosing which to answer! We’d like to thank everyone that took the time to think about and submit questions. Let’s start right away:

Q1: “Will you ever return with some presence in the community channel? I understand you’re busy but those first few days of being part of the project and seeing you active there was awesome!”

Those first few days of being part of the project were the most exciting moments for me this year, and I believe I will return with some presence. At the current stage, the project needs my leadership and decision-making to efficiently work on product developments, marketing planning and business plans, though.

Q2: “How much time do you spend on DEXToken compared to your other ventures (FLC, AIMining)?”

It depends on the project and business stages. My time allocation is flexible, and I make time adjustments according to the progress of the project, and the teams demand for my presence.

For example, when we initially released DEXG in August, I allocated 80% of my time creating the white paper with the team. Before the release of DEXG, I allocated about 50% of my time on Flowchain’s business development.

Q3: “Are you aware of all the Jollen and DEXG memes that are posted? How do you feel about them?”

Yes, I have seen a lot of them in price-talk. There were many creative memes among them. I feel the meme culture is fascinating!

Q4: “Could you describe in simple terms what the core product is of DEXG from a users perspective? Could it be compared to Uniswap but with a different AMM / price model?”

The core product for users is the DEXToken Swap Exchange. Yes, it can be simplified as Uniswap with different pricing (AMM) model. The smart contracts, together with the DEXG token, will operate it, so it is a fully decentralised exchange.

Q5: “Will DEXG holders get a share of the trading fees on the future platform?”

Yes, they will get a share of the trading fees. Sharing of the trading fees is one of the essential DEXG purposes.

Q6: “When will we be able to see the first progress on the Exchange and speculative AMM?”

We expect the public beta to be accessible in December 2020.

Q7: “Have you shown the Whitepaper and the speculative AMM to business partners and other Blockchain companies? How was the feedback?”

Yes, we shared the whitepaper to our business partners. Note that we can’t disclose further details about this at the moment.

Q8: “How will the DEXToken exchange attract liquidity pools and deal with the market shares of behemoths like Uniswap?”

The DeFi wave brought a lot of traffic to existing and new exchanges. As CZ mentioned, if Binance does not actively list DeFi projects, they will lose market shares. As for the DEXToken swap exchange, our strategy is to provide new DeFi projects and their users a better DEX experience in 2021, while eliminating the barriers that come with listing and signing up on centralised exchanges.

Q9: “Can other exchanges/protocols benefit from DEXG? If so, which one’s and how?”

Other exchanges can benefit by official cooperations applying the DEXToken Protocol, or by market makers utilising arbitrage techniques to bridge the two.

Q10: “How will the DEXToken Protocol and DEXG ensure true interoperability between different blockchains for the speculative AMM and other future projects?”

Currently, the DEXToken Protocol will only support Ethereum ERC-20 standards.

Q11: “Could you expand on your conception of ‘perfect’ in the description of this token? What do you think makes a token perfect, and will this vision be immediately realized or will it take more dev and adoption time?”

A perfect token is a token that can price secondary tokens, comparable to the current strong fiat currencies. BTC or ETH are not used for pricing because they are highly volatile themselves. This causes the secondary tokens also to fluctuate significantly.

Q12: “Will the team be participating in any of the staking rounds? If so, to what capacity?”

The team may take part in the staking round beginning with round two after they received their respective incentives.

Q13: “Which company conducted the audit of the DEXG smart contract and can we see a certificate of the contract being safe?”

The security audit was performed by Pessimistic. The audit found no crucial bugs or security issues.

The report can be accessed at https://dextoken.io/assets/DEXG_Security_Audit_Report.pdf

Q14: “Does the marketing aim at business clients or private investors? Which is more important to DEXToken?”

Our major target is the DeFi markets, which are more important to DEXToken, so we describe the DEX and AMM in the whitepaper. And that’s why DEXG pricing and staking mechanism are community-driven.

But we will also pay attention to business clients, which may be crucial to the DEXToken Protocol’s success. While private clients can use the DEXToken Protocol, the overall infrastructure also aims at business clients, including other DeFi and IoT projects.

The End

Please be aware that not all questions could make it, mainly for legal and compliance guidelines. Nonetheless, we hope Jollen could give you some interesting insights into the project and current developments. We are looking forward to the second community AMA round we will surely hold in the future!

Resources

© DEXG Team

Dextoken is a DeFi infrastructure with a proposed Speculative AMM and is managed by the DEXG community —https://dextoken.io/

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