BlockTalks x Alpha5 AMA Transcript!
Hello! BlockTalkers & Blockchain Enthusiastic!
We recently hosted an AMA with Alpha5, on 24th August 1 PM UTC. Many of you might have participated or many of not. But we make sure no one missed out from the knowledge shared by Saul Joffe, Head of Business Development of Alpha5 project. So here we are up with AMA transcript, for those who missed the live session, this blog post will be saver & feeder of knowledge for them.
Introduction Questions Asked By BlockTalks
Q1. Can you introduce yourself to the community? What’s your position on Alpha5?
Ans — I’m head of business development for Alpha5 with a background in banking and excited to tell you more about our products that are unseen in the crypto space.
Q2. Can you describe 2–3 unique advantages of Alpha5?
Ans — We are the first to offer implied order books in crypto and we are also the first to offer a futures swap product allowing traders to take on 2 contract positions at once (with a single click).
Watch video on our twitter — https://twitter.com/alpha5_io/status/1293476160148570113?s=20
Q3. How Alpha5 ensure top security of user’s funds? What’s in your security layer?
Ans — We use the highest industry standards, utilizing a multi-sig deep cold storage with a reputable custodian for our users! We treat security very seriously at alpha5 inline with the mainstream crypto exchanges.
Questions Asked on Twitter For Alpha5!
Q1. One of your twitter posts said that “A5T token” has a big Purpose to Defi.
Can you explain
What is the Purpose/Benefits of A5T token to DeFi?
Ans — A5T represents the first distributed governance model in CeFI, users will have tokenized exposure to the Insurance Fund as well as passive compounding through yield farming, supply scarcity created by various buy & burn programs, token holders will also have voting rights to future fee structures at Alpha5 we want it to be for the traders who use our exchange.
Essentially we are centralized exchange but the token will be to offer DEFI benefits to the users as the users who hold A5T will have rights to the insurance fund and voting ability.
Q2. Alpha5 uses multi-sig cold storage, how is cold storage possible in exchange, are the assets in use there too?
Ans — Well we dynamically manage the different wallet structures to ensure there is no predictability pattern, as well as physically signing transactions for approval.
We have a proprietary security facility that has been developed that enables this.
Q3. ALPHA5 has 4 products on the platform. Perpectual Swap, Futures, Futures Swaps and the Exotic Options. Can you elaborate on the products mentioned for easy understanding. And, these “Exotic options” are not uncommon in other exchanges. What about these Exotic options?
Perps and Futures are your standard instruments offered by most crypto exchanges but Alpha5 have created a new product called futures swaps which creates a lot more value for traders i.e :
- No price-execution risks
- Easy rolling of positions
- Increased liquidity and interest driven to the basis markets
- Reduced transaction costs
- Increased liquidity to futures markets
Please read our article on Futures swap to get a granular understanding of the instrument as its only available at alpha5
Q4. Trust and Security are the most important things in cryptocurrency. Why do we feel safe with ALPHA5 ? The recently released Defi dForce protocol has been hacked for 25 million dollars. Do you have any tips to avoid these situations in the future?
Ans — Well we take every precaution that one can possible take to ensure the safety of our traders digital assets but even the top exchanges like Binance have been hacked and because of this we have implemented further security layers around these weakness points to eliminate such an event.
More layers of security making it harder for hackers to infiltrate.
Q5. Several other exchanges offer an “academy” within their platform as a source of spreading awareness to newbies about derivative contracts.Can we expect something like this from Alpha5 or perhaps even better?
Ans — Yes you can expect something soon and in fact I have personally been working on this myself similar to Binance academy ( which is fantastic btw), alpha5 is inspired to create an educational resource similar for our users with our own touch. Education is extremely important for our community we want them to make money on our exchange in the current bull market.
We will create educational videos, illustrations and the like so its clear how to trade all our instruments.
Questions Asked by our BlockTalks Community Members during live Session for Alpha5 team!
Q1. I really want to buy and store Alpha5 token, but I really do not know what exchange I can find this token.
Can you list the exchanges where Alpha5 token is listed?
Ans — You can trade Alpha5 to earn A5T ( our token) this is the only to earn A5T.
Q2. Can you give us an overview of Alpha5 team, what are the 1–3 year development plans? Is Alpha5 planning to do compliant business in other countries?
Ans — Please see our whitepaper in our telegram for more details, but we have spot markets, exotics with a gaming twist and many more things to launch over the years.
Q3. By launching Alpha5.io exchange, how will you evolve your business into something new?
Ans — We will always create products around what our community raise interest for and will look at the market for what is in demand and what they want to see on Alpha5.
Q4. Generating tokens is easy, but making their value difficult. In addition to building a strong community, what else can the ALPHA do to make the ALPHA token more valuable?
Ans — We will buy and burn tokens every month ( scarcity) after a certain threshold is met and we will offer yield farming and staking for the A5T holders so there will be passive income for holders.
Q5. Which countries are the main markets that alpha5 is focusing now?
Ans — Every country in the world which allows for trading is our focus. Alpha5 aim to make this a global community of traders and we want to meet everyone’s trading needs with the products we launch over the years offering something that other exchanges don’t offer.
Q6. What are the main differences between Alpha5 and other Bitcoin Derivatives Platforms? Why is Alpha5 better?
Ans — Others dont offer implied orderbooks and others dont have the futures swaps product that we have this is brand new to crypto.
Here are some important links of Alpha5 👇
Website : https://alpha5.io
Telegram : http://t.me/Alpha5_en
Twitter : https://twitter.com/alpha5_io
