BlockTalks x Vox Finance AMA Transcript!
Hello! BlockTalkers & Blockchain Enthusiastic!
We recently hosted an AMA with Vox Finance, on July 3rd at 2 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 Luka & Jure, Co-Founders of Vox Finance. 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 explain what is Vox Finance and what it does?
Ans — VOX Finance is a "traditional" yield-farming and staking project with a unique take on the token economy. We’re one of the few projects live with a governance system, low token supply and a burn-rate mechanism on each transaction that’s been providing secure, reliable and profitable DeFi services since the start of October last year :)
Users can join our platforms on Ethereum, Binance Smart Chain or Polygon (since today!) to join staking pools, liquidity pools and several other features such as a stablecoin swap platform and more by visiting our website vox.finance and you can find all the relevant links from there!
We are partnered with several DEXes, mostly on BSC, but are always looking to grow and that’s why we’ve moved onto Polygon as our next journey.
From last year we have achieved quite a lot. We are now covering 3 different blockchains! Ethereum, Smart chain and Polygon (as of today). We also launched our own governance forum to give people the power of voting on how they want to shape VOX.
In the meantime we also introduced stablecoin swap platform, a lot of different pools,vaults and even private pools to enable our dear investors to earn even more passive money!
We’ve also been listed on a lot of different exchanges along the way!
Questions Asked on Twitter For Vox Finance Team!
Q1. I noticed that you work on the BSC network, Ethereum and Polygon. But, can you explain what value brings to the project working on these smart chains? In the future, could you add other networks such as Solana or Polkadot?
Ans — Covering multiple blockchain networks allows us to reach wider audience and attract investors from all over the DeFi space.
In the meantime we try to utilize each network as best as we can and develop on their strengths. Polygon the new addition to our blockchain networks will allow us plenty new pools/vaults and not to mention our DEX/IDO platform.
We are always looking for new opportunities and if we see it in Polkadot or Solana or any other blockchain we will pursue it.
Q2. They announced on their telegram community in the last week that their new polygon smart chain performance farm is now available, so, can you explain how I can participate to secure a spot and benefit from the high APYs of the new farm?
Ans — Everything we make is made to be as simple to use as possible :)
You just head to our website polygon.vox.finance, connect your wallet and under "stake" page select pool you wish to enter :)
Last step is the most important one.. You have to open champagne and enjoy your passive rewards.
Q3. You use a fully functioning governance platform powered by Quadratic Voting, could you please explain more about this governance process and how it empowers your users?
Ans — The quadratic voting function means that voting power is more fairly distributed between all VOX holders instead of being controlled by big holders. Of course, larger token holders will always have a bigger say in the vote, but by means of this voting distribution, even smaller voices can have an impact on the result of a vote.
That's the main advantage of a system such as ours and we will be using more of it in the near future to empower our community members to make important decisions.
Q4. Since it was launched in October 2020, what has been the performance of the VOX token and what learning has its performance provided to the team?
Ans — Token has its ups and downs, we can’t really affect the market in that way. Only thing we learned and what we can do is continue our development and search for innovations to bring to our investors.
Q5. Many investors are only interested in the token price and their profit in the short term while only a small part of them are interested in the long-term development of the project as well as the technology of the platform. So does your team have a solution to balance this?
Ans — We have been around for a long time and have made many discoveries using the trial and error method. We of course haven’t made all the right decisions and a big part of that is the fact that investors have very short attention spans and quickly jump to the next popular project. What we enabled our users is a safe, reliable and rentable yield-farming platform that has a very good track record.
We have made adjustments to our roadmap which should hopefully bring some new eyes on our project and since we started on Polygon we’ve seen an influx of new members.
Questions Asked by our BlockTalks Community Members during live Session to Vox Finance Team!!
Q1. Do you have any Coin Burn / BuyBack systems or any Token Burn plans to increase the value of Token & attract Investors to invest?
Ans — We have 2.0% burn system on all transactions but the ones happening on our website. so staking/withdrawing is free.
In this way we have nice deflationary tokenomics which is both attractive to new investors and at the same time it increases the prize of the token as its becoming more scarce.
Q2. Trust and security is very important in any business, what makes investors, customer and users safe secure when working with your project?
Ans — We gained 3 audits from professional 3rd party auditing firms. That means all our code is checked and marked as secure from 3 different companies. Besides that we double test everything we put live on our platform.
So far we have been online without an incident or hack from the very beginning of the project.
Q3. After being on the big Ethereum and BSC network you decide to add the network to Polygon, What are the benefits and advantages for Vox Finance? And will you add more networks in the future?
Ans — Well, Polygon is one of the hottest blockchains out there right now and it’s user base is rapidly growing! We’re a big fan of fast transactions speeds and low network costs, so Polygon was the obvious next step after BSC! It’s exciting to offer the same platform on a new blockchain and we hope to do it soon again with another blockchain (for example Fantom).
The APY is very high on Polygon right now and a lot of users are taking an advantage of this new offer, so make sure to check it out at polygon.vox.finance.
Q4. I’ve been a long-time holder and l’m very concerned with rewarding holders. My Question: Can l get a reward when l hold your tokens for a long time?
Ans — We have no locking periods and no fees on our staking pools. Which means everyone can deposit or withdraw their investment whenever they wish.
Q5. Can I Stake your token now? What’s the process?
Ans — You can stake your VOX tokens on Ethereum, BSC or Polygon or on each one of them if you decide to do so.
We're live on all major DEXes for each of these blockchains (Uniswap, Pancakeswap, Quickswap) and you can buy your tokens now and join the staking pool to earn approximately 50-70 % per year depending on the platform!
The staking pools will continue for as long as the project exists and you can try it out whenever you want.