BlockTalks x SolDex AMA Transcript!
We recently hosted an AMA with SolDex, on September 12th at 2.00 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 John, CEO at SolDex. So here we are up with the AMA transcript, for those who missed the live session, this blog post will be a saver & feeder of knowledge for them.
Introduction Questions Asked By Team BlockTalks!
Q1. Could you please introduce Soldex to our community in layman’s term?
Ans — First. Solex is a token exchange that allows users to trade one crypto for another with very low fees.
Second. Solex rewards SOLX holders with a portion of transaction fees.
Finally…. Third. Holders can stake against AI bots to improve the yields on their holdings.
Q2. What are the advantages of Soldex to other alternatives in the Blockchain field?
Ans — Low cost, speed and higher yields….
The first two are benefits of the Solana blockchain….
The third will be the result of quality AI bots and demand for the SOLX token.
Q3. What are the major milestones Soldex achieved so far & what are in the future pipeline?
Ans — Our initial private sale went better than expected….
which is great….
Now the focus is continued marketing and awareness for the project driving up to our IDO…..
plus… we are working on Version 1.0 of the platform and the next major step is a release of the alpha prototype.
Questions Asked on Twitter For SolDex Team!
Q1. Currently, most investors only focus on price of token in short-term instead of the real value of project. Could you tell us the benefits of holding your token for long-term?
Ans — HODLing is the best strategy with SOLX…..
You earn part of the transactions fees plus yields on the bots when you stake against them.
Q2. Soldex is a third generation crypto exchange. So, can you explain if the platform will continue to evolve to keep pace with the development of the cryptocurrency market and not be like other options in the market that become obsolete for not evolving in time?
Ans — By building on Solana we chose the ecosystem that was the most future proof….
It can scale with all the zigs and zags the #defi movement will throw at us.
Q3. One of the features of Soldex is its “AI-Powered Trading”. May I know the win probability and profitability of your trading bot? It is recommended to use for all types of traders (swing, day trading, scalping and position)? Does this bot comes with risk management feature?
Ans — There will be multiple bots on Soldex…..
In fact, you will see a “bot” store to choose where you want to stake your tokens.
Our initial plan is to develop a few bots for circumstances like a bull or bear market.
However, we want AI scholars and researchers to add their own bots to the store. The whole platform is designed to HODL and the bots do the trading for us.
Q4. DeFi is the new frontier in crypto and blockchain, what’s Iterative Law approach to DeFi? For money to be Smart, it must be instant, zero fee transactions and private. Does Iterative Law meet these 3 pain points for payment solutions?
Ans —Have to be honest, I had to look up “Iterative Law” when I saw your question on Twitter.
There was a lot of math … 🙂
Yes, I think it can achieve instant and completely private……
“Free” depends on our perspective…..
P2P transaction are still occurring over a blockchain network that is charging a fee…..
However, if those fees are far lower than the returns is that “free”? IMO it is.
Q5. Typically, trading platforms require users to submit their valid IDs and bank details before they can start trading. I understand that Soldex does not ask for this requirement, why? Why skip this security measure?
Ans — KYC regulations apply mainly to exchanges that are converting to FIAT and moving crypto off chain. In our case the blockchain provides total security with the wallet Id you are are using.
Questions Asked by our BlockTalks Community Members during live Session to SolDex Team!!
Q1. It caught my attention that Soldex will have a “Global Academy”, in which they will explain different content of Solada and all blockchain, but how can we really participate in this academy? will it be free? And also, how long will the training last?
Ans — Yes… it will be free. The content will be targeted to help new users understand the world of #defi
Q2. Soldex has partnered with the Solana Foundation and billionaire Evan Luthra who invested in Soldex. So, can you elaborate on the other partners that the Soldex platform currently has? How do you plan to continue forming partnerships to grow as a leading platform in Solana?
Ans — We are constantly working on new partnerships and collaborations. Keep an eye on our Twitter account for annoucements. Many more to come.
Q3. Where can I buy $SOLX? Is it listed on exchanges?
Ans — We are currently in private sale visit the website for details.
Q4. Is the market data analysis you provide complex or is it done for the inexperienced?
Ans — The bots do the work. You will be able to pick your bots based on performance and what you see coming. You will not need to be a chart analyst.
Q5. I read that using Soldex is like hiring an expert to do crypto trading for you while you can sit back and watch, but really if everything is automated, why launch a global academy to train users? Why train them if Soldex will do the job for everyone?
Ans — LOL. That’s a great question. Love it. Although it seems counter intuitive we want to elevate the knowledge of all users. It’s important to understand “why” things are happening in the market.
Q6. We know how important advertising and marketing is for projects. What do you think about Soldex being featured on Cointelegraph? How do such news reflect on your brand value? You have received many requests for your private sale from investors, as well as VCs, Exchanges and KOLs. How did the interest in your project honor you and do you feel that the expectations from Soldex for the future have increased even more?
Ans — Of course. The more the community invests the higher the expectations for us to #BUIDL something awesome.
