November 01-st held an Ask Me Anything session at ICO Speaks telegram chat. From the Crosswise side there was
💻JFrederic Beeg |CEO & Founder|@fbeeg
My name is Frederic Beeg and I’m the CEO of Crosswise. I have a strong background in creating leading platforms in the gaming and e-commerce niche. One of my main interests in the last couple of years has been Crypto and especially DeFi. Thats why I started creating Crosswise 5 months ago with a team of 7 devs.
💻 Gregory Khine| COO | @gwk2021
My name is Greg and COO at crosswise DEX. I’m German-Korean, and have been working online for nearly 20 years. Founded an award-winning web agency as well as popular online education resources in the late 90s. I fell down the crypto rabbit hole in 2015, and have since developed a particular interest in DeFi, both the technology and its transformative potential. I hold undergraduate and graduate degrees from the London School of Economics & Political Science.
Let’s get started!
Q: How does the concept of your DEX differ from other DEXs?
A: We are bringing together the best of two worlds: the support and variety of functions you are used to from a centralized exchange and the widespread technical possibilities of a decentralized exchange. We are offering accountability and support on our DAPP which retail investors are missing on other exchanges.
Q: To which chains are you planning to expand after launching on BSC?
A: The first additional chain will be Polygon and Ethereum. Then most likely Solana and Avalanche. However by then we also intend to have some voting features enabled, and will be consulting the community to see which additional chains enjoy the most support.
Q: How far is the development of the platform?
A: We are about 85% ready to release. We’re still integrating some APIs and building out features, and we’re confident that we can release by the end of December this year.
Q: Will I be able to earn cash as an affiliate?
A: Yes we have developed our own referral scheme that allows any user to earn 1% of their referees rewards on crosswise. This is financed through the treasury, so it doesn’t mean the user earns less. Users simply login to find their referral link to share.
Q: How are you able to create cross-chain transfers?
A: We decided to use Biconomys industry leading “Hyphen” API to enable cross-chain transactions. The transactions are almost instant and you don’t need to wait up to 3 hours as other bridges need you to do. Biconomy operates a chain of Nodes to check on smart contract interactions to offer a very advanced industry leading experience of transferring assets between chains.
Q: What is your longterm plan with the LaunchPad?
A: We are planning on building a whole Launch”Hub”. This ecosystem will feature services known from incubators: marketing, development, legal services and much more. Rather than only bringing in funding, we want to support their growth in a more comprehensive way, and support knowledge sharing.
Q: Will users be able to vote regarding changes on the platform?
A: Yes, we will offer governance features directly after the initial launch on Binance Smart Chain. Voting will be an essential feature as we want the community to be active participants on the platform. Users will be able to vote on any major changes of direction or features.
Q: How will you ensure security on the exchange?
A: Internally we use best practice to ensure our code is as secure as possible. We have a number of talented developers, with a lot of combined experience in blockchain and DeFi, but have also commissioned both TechRate and Certik to audit our contracts. We passed the TechRate audit with zero issues, which is rare. The Certik audit has just started and we will be partnering to be part of Certik Skynet.
In addition protecting ourselves from flash-loan attack was a clear priority, which why we partnered with Chainlink, and will be using their price oracle. This also deters front-running attacks, by making them unprofitable.
Q: Do you have AUDIT certificates, or are you working to AUDIT your project, to make it more secure and reliable?
A: We have already been audited by TechRate (https://crosswise.finance/static/media/Crosswise_Token_Full_Smart_Contract_Security_Audit.d882108d.pdf) for the Presale and the Token contract. Both Audits showed 0 potential threads. Currently our project is getting audited by CertiK including their Skynet Live protection for DAPPs to ensure maximum security.
Q: How can I buy this tokens? Is it available on any exchange?
A: We are in round 2 of our pre-sale, so our token is not available anywhere yet except in our pre-sale. If you would like to join, please whitelist your address: https://x9epe3je3fk.typeform.com/crosswise, and once approved you can go to crosswise.finance to buy the CRSS token.
Q: Can a new user like me invest on your platform? HOW Can I buy your token?
A: Yes of course. Just go through our quick whitelisting process ( https://x9epe3je3fk.typeform.com/crosswise ) and then purchase the Tokens on our website www.crosswise.finance . The minimum Buy is 250 BUSD and the maximum 25k BUSD.
Q: How you will sustain yourself in this very competitive environment of cryptocurrency?
A: We have setup a complex structure of 2 coins. The revenues through farming are only paid out 50% directly, the rest is getting vested linearlly within 5 months. Also, we have added various burn mechanisms, for eg for the auto compound feature, to ensure deflationary mechanisms to combat the emission.
Q: Trust is very important in business, what makes investors, customers and users feel safe when working with your project ?
A: We are completely transparent. The whole team is doxxed, we dont have any team allocation per se, we have announced major official partnerships with Chainlink, Biconomy, CertiK, TechRate and much more.
Q: Too many projects promise magic but never release any working product or prove any revenue, Within a short/long time of release. Is your project also like this? If not can u tell us, What makes your project different from other projects?
A: We have been building our DEX for 5 months now and so we are pretty near a release in Dec. Our product is almost finished and we will be doing video walk-throughs to introduce our features very soon.
Q: Truly, you’ve done AMA in many telegram groups, so what next, what other way will you make your project more popular?
A: Our marketing plan contains huge exposure on Youtube, in magazines, etc. You will hear a lot from us those next weeks. Also, we will give a sneak peak into the platform and do a walkthrough. Stay tuned!
Q: What do I need to get whitelisted in CrossWise Presale? and is there a limit for minimum and maximum purchases?
A: Just to be more clear about the whitelisting: We only require a wallet address (BSC) and your email address. That’s it! Min is 250 BUSD and max 25k BUSD. The price is currently at 0.3 USD, when released it will be 0.75 USD!
Q: What is the most ambitious goal of your project? Could share with us any Upcoming Updates?
A: The most ambitious goal is by far creating a huge cross-chain ecosystem. We are trying to combine all chains with transfers, an unified wallet and launchhub and so much more. We are trying to build an all-in-one ecosystem on all blockchains.
Q: As a community driven project and me a developer am interested in contributing to the project, do you have such programs?
A: For sure! We are happy about any help offered and we are also looking to extend our project. Please drop us an email at [email protected] and we will let you know. Wea re currently looking for more Backend and Frontend-Devs plus one fulltime graphic designer to complete our team.
Q: Can you list 1-3 killer features of Your Project that makes it ahead of its competitors? What is the competitive advantage your platform has that you feel most confident about?
A: 1) accountability yet decentralization
We aim to bridge the gap and offer real customer support to widen access but also enhance security via education
2) Cost savings
We’ve built and integrated a lot of clever features to save on gas and improve the user experience
3) real analytics
We believe the current DEX experience is too featureless and offers little in terms of analytics, which will be one of our focusses.
ICOSpeaks hosted an AMA Session with the Crosswise Team. That’s all for today.
Thanks to all users who participated.
Thanks, Crosswise for being with us
Thanks, all and see you soon😉
Wanna know more?
Take a look at our other ama sessions