October 5-th held an Ask Me Anything session at ICO Speaks telegram chat. From the EXPX side there was:
Sure! My name is Alex (as you already know 😀), I am based in beautiful New Zealand, and I am a firm believer in the power of technology for good! Through crypto and DeFi, I believe we can make a better world – for everyone!
Let’s get started!
Q: Please give us a summary of the ExpX project.
A: With pleasure.
ExpX is the first Balancer-style protocol on the Binance Smart Chain.
We are a DeFi protocol, allowing users to deposit and swap tokens, while fully utilizing the unique advantages of the BSC platform, such as fast transaction speeds and low gas fees.
Our goal is to become a key service on the BSC, enabling the entire community to better balance and leverage their crypto portfolios, and ultimately earn greater returns on their investments.
So, I guess we’re here to make life better for everyone 😁
Q: What are some of your top features? How are you different from the competition?
A: Our most important advantage is simple: we are the only Balancer-style DeFi protocol currently available on the BSC. If you want flexibility and automation for managing your BSC crypto portfolio, we are simply your #1 best option.
A few more details about our features:
* Up to 8 tokens in a single pool!
* Fast (<2 seconds), affordable (about 0.005 BNB per swap) transactions.
* Automatic portfolio rebalancing.
* Governance token rewards for liquidity pool creators – we’re a truly decentralized protocol!
* Automatic smart transaction routing for maximum profits, including between multiple pools.
Q: What is the status of ExpX right now/how can we participate?
A: I am pleased to tell you that ExpX is already live on BSC mainnet! You can go to our website (expx.finance) right now, click the Launch App link, and begin using/learning about the service.
Please note, however, that our token ($EXPX) has not yet been launched – we are currently finalising our private funding round before we launch it on the 1st of December this year.
If you are interested in getting in on the action ahead of everyone else, please reach out to us via the banner on our website. Note that a minimum buy-in of $30K USDT is required for the private round.
Q: There are many DeFi protocols out there these days. Having unique features like ExpX does is great, but the number 1 problem around DeFi at the moment seems to be security. How can your users know they can trust your protocol with their crypto assets?
A: Indeed! Well, I couldn’t agree more – security and trust is paramount.
It is precisely for this reason that we at ExpX have gone to the trouble and expense of applying for, and successfully receiving, a full security audit by Certik. Certik is the world leader in crypto and Smart Contracts auditing.
Check us out at Rest assured: your assets will be safe in our liquidity pools, and no-one can change the rules after the TGE.
Q: It seems like ExpX is a long-term project…your main benefits seem to only become available once major equity is locked in your pools. How can you be sure you will survive long enough to achieve this?
A: Rome wasn’t built in a day, that’s true 😉
ExpX is a major crypto project with significant locked-in backing from VCs and veteran players in the crypto space. Some of these partnerships have already been announced (see our website), more will be announced soon.
We have enough funding already committed to the project to ensure long-term protocol development and extension.
Furthermore, the core team is made up of experienced and established business people, all of us committed to making ExpX a success. You are right – the longer ExpX goes on, the more benefits it can offer to the BSC community.
Join us, and together we will achieve great things! 🎉
Q: How is this project relevant to the average crypto holder? It seems like the main features are only relevant to someone with a large and complex portfolio.
A: Haha, well, ExpX is a great way to make your own portfolio, in your words, large and complex 😉
I’ll elaborate:
Much like on a traditional stock market, there are inherent problems involved with trading multiple stocks, or, in the case of crypto, tokens. In order to get the most out of each one, you have to continuously manually re-balance your holdings, otherwise you risk taking a big loss when one token or another dives off a cliff, and you are left holding too much of it.
This is one of the reasons why the overwhelming majority of crypto users stick to trading only one or two tokens at at time (with significant equity locked therein, anyway).
ExpX removes the need for this laborious manual re-balancing, plus adds several important incentives for trading within our liquidity pools, for example the fact that our own $EXPX tokens (after IDO) will count as 10x for the purpose of daily rewards when locked inside ExpX pools.
Q: What are the benefits of your private round? Your minimum buying is quite high, I could just buy a lot of tokens at IDO?
A: You could indeed, and are very welcome to do that if that’s what you’d like to do. There are, however, two major benefits for those joining our private funding round: the first is a significantly reduced token price, compared to what it will be at IDO.
If you choose to join our private round, you will essentially already triple your money at the moment of TGE.
The second benefit is participation: as one of our funding partners, you will be in constant communication with the core team, and thus be in a position to coordinate your actions in promoting and supporting the project (and therefore your own investment in it) to our own actions.
As always, a team can be greater than the sum of its parts, and we take an active interest in all feedback and ideas from our partners.
I should mention that our private round allocation is almost finished, so if you want to get on-board, please get in touch soon – you can find our contact details on the website (expx.finance).
Q: Regulation is very important, several projects in many countries were closed due to a lack of necessary licencing. How does Expx deal with this problem? Are you working on a project that complies with regulations?
A: Since we have a number of partnerships with veterans in the crypto space, we were able to ensure we have all the legal groundwork in place to enable us to allow trade of our tokens world-wide.
For example, we have official legal documents in place with regards to the status of the $EXPX token as a non-security, which allows our users to legally trade our tokens in the USA, among other things.
Q: Where can I buy your token? And what’s the price will be?
A: Once our token is launched on the 1st of December after the IDO, the best way to buy it will be from our own pool on ExpX. An even better way of acquiring them will be to not actually buy them at all, but instead contribute liquidity into our pools. The more liquidity you have locked in ExpX pools, the more $EXPX tokens you will receive as daily rewards.
Also, any $EXPX tokens locked in ExpX’s own pools will count as 10x for the purposes of calculating these rewards, so it’ll pay to be in early if you want your assets to grow exponentially😉
Q: So many projects just like to speak about the “long term vision and mission” but What are your short terms objectives? What are you focusing right now?
A: Our short-term objective is very clear: we have an IDO on the 1st of December, and we are preparing for it! Technologically, ExpX is complete – as I said earlier, we are already on BSC mainnet. So, our immediate goals are to grow our community, and increase awareness of ExpX within the crypto space. That’s why I’m here right now speaking with you fine folks! 😄
Being a community-first project, ExpX will rely on mass-adoption to fully allow every user maximum benefits. So, the earlier you join us, the better!
Q: Covid-19 has a bad impact in almost every sector. So, as a crypto projects how did it affect you? How you and your team have done the work in the pandemic?
A: It hasn’t affected us much, thankfully. I think people in the crypto space are generally used to working online, and this is especially true for us, given that we fully control the development of ExpX ourselves, that is we do not outsource anything.
I think that, in time, Covid will actually be viewed as an event that helped to boost DeFi. After all, you don’t need to go to a now-closed bank branch to get your money out if your assets are in crypto, do you? 😉
Q: Almost 3/4 of investors are focused purely on the price of token in short term instead of understanding the real value and health of the project. Could you tell us on motivations and benefits for investors to hold your token in long term?
A: Exactly! This is actually one of the challenges we are dealing with, since the main value of ExpX is not in our token itself, but rather the service we provide to help folks in getting better returns on their existing crypto investments.
The point of ExpX is to provide the best possible returns on balanced portfolios. This, by it’s very nature, is a long-term goal! The #1 reason for users to hold our tokens long-term, therefore, is that the more people use the service, and the more equity is available through ExpX pools, the more rewards each and every $EXPX token will provide to the creators of those pools.
Think of it like a kind of bond document: the more business the “bank” – ExpX in this case – does, the more value a bond issued by that bank has 😉
Q: From where you get your project name? What is the main motivation behind your project? do you have any story to share?
A: I have plenty of stories to tell, believe me 😆 It’s not all smooth sailing, this blockchain business! Join our group and I might tell you sometime!
For now though, our name – ExpX – actually stands for “y = exponent ^ X”, which any student of mathematics will tell you means that y grows exponentially, i.e. faster than 10x.
That’s what we believe our project will do, and what we hope to offer to our users!
Q: Non-crypto user is very important for mainstream adoption. How you are planning to attract non-crypto users towards your project? Is there any upcoming partnership that will brings non-crypto user and real-use case?
A: Yes indeed…you’ve hit upon one of our longest-term goals here! The elusive, and often naive non-crypto user.
One of the barriers for traditional financial operators to enter crypto is precisely this inability to effectively manage and balance multiple investments at the same time, when each investment can be of completely different value. In traditional markets, like stock exchanges, all these problems have been figured out decades ago (seen the Wolf of Wall Street? 😆). But in crypto, it’s all still largely manual.
We hope, and believe, that the kind of service ExpX offers (i.e. 8 tokens in a pool + smart routing between pools) will actually in time cause more traditional financial service providers to start moving their holdings into crypto, knowing they can rely on their portfolios being kept in balance according to market conditions.
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?
A: A total of 100M $EXPX tokens will ever exist, and the core team retains only 15% of those. The vast majority – 65% in fact – will be given out to the community over 8.5 years as rewards to liquidity pool creators. Our end-goal is for ExpX to become a fully-decentralized DeFi protocol, controlled by its community, in which the core team plays only a small part.
ICOSpeaks hosted an AMA Session with the EXPX Team. That’s all for today.
Thanks to all users who participated.
Thanks, EXPX for being with us
Thanks, all and see you soon😉
Cheers 🥂
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