October 25-th Plexus held an Ask Me Anything session with the ICOSpeaks team at our telegram chat.
1️⃣ Block 1 – self introduction from today’s speaker
Before we go to the first set of questions, could you please do a short self-intro?
👨💻 Rae Kang l COO of PLEXUS l @PLEXUS_Rae
My name is Rae, Kang and I am the COO of PLEXUS.
I’ve worked with the team from the start and i’m confident to say that all the team members are experts in blockchain technology. I’m very excited to talk with you today 🙂
2️⃣ Block 2 – project introduction by speakers
First set of questions to introduce the project!
Q: Can you introduce PLEXUS to the community?
A: PLEXUS is a cross-chain DEX aggregator, optimized for WEB 3.0. With the interswap routing engine, PLEXUS enables asset exchange across all blockchain networks. Users can also customize and own their own DEX with the DIY features. PLEXUS DAO will operate the protocol with the SBT and monetary incentives to the protocol contributors.
PLEXUS will lead the WEB 3.0 ecosystem with a goal of popularizing DeFi to the masses.
Q: What is the vision of PLEXUS?
A: Our vision is to become WEB 3.0 Binance, a one-stop platform for all decentralized financial services. PLEXUS will achieve mass adoption of blockchain.
We will start by solving the asset interoperability problem. We believe that it is the huge barrier to mass adoption and it is critical for DeFi to unleash the full potential of it. PLEXUS’s Interswap Routing Engine will enable any asset exchange between all blockchains.
Q: What did you do to make adoption a reality, social and real use cases?
A: We believe that a good product is the product that maximizes the user experience. With the user-friendly interface and good user experience we will achieve the user adoption. For example, if a user would like to swap ERC-20 token on Polygon network to ERC-20 Token on Ethereum network, instead of going through DEXs and bridge, they will be able to swap token seamlessly on PLEXUS DEX with just one approval.
3️⃣ Block 3 – question from ICO Speaks team
Questions from the ICOSpeaks team!
Q: What is PLEXUS’s business model?
A: Our revenue comes from the swap fee of the DEX service, bridge fee from the PLEXUS bridge and part of the saved slippage of DEX aggregators.
Q: Could you explain more about the governance with SBT?
A: We believe that the problem of the current DAO is the lack of participation. The PLEXUS protocol will constantly search for ways to create a motivational environment where protocol contributors can work at their optimal levels to complete missions by providing protocol contributors both monetary and non-monetary incentives. Anyone will be able to contribute their labor, skills or knowledge to the protocol in a lot of different ways(development, marketing, design,etc.) We reward contributors with monetary incentive and SBTs.
Q: Could you share with us the roadmap of PLEXUS?
A: First, we will launch our IDO on the 31st of this month and we will launch PLEXUS beta in Q4 of 2022. Interswap will open in Q2 of 2023 and the protocol incentive system will open in Q3 of 2023.
Please look at DOCS for more details: https://docs.plexus.app/plexus/plexus/roadmap
4️⃣ Block 4 – Community Voice.
Community asks the questions they are interested in.
Q: Where can I currently buy Token?
A: You can purchase tokens by participating in our IDO and since we are DEX ourselves, you will be able to purchase PLX tokens in PLEXUS. We also have plans to list our token on some centralized exchanges.
Q: How do you plan to increase the PLX token value? Also, how would you convince investors that PLEXUS is a good project for the long term?
A: We have different governance token incentive systems. We will distribute our tokens to the actual contributors to the protocol. PLX tokens will have less inflation and it will help the price of the tokens increase. Also, part of our revenue goes to the buyback fund.
Q: Where I can get the latest updates or more information about the project?A: We have our Discord channel and Twitter account. Please join our discord channel(https://discord.gg/M9cU9eQCyJ) or follow our twitter account(https://twitter.com/plexus_fi) for the news.
Q: Partnership is always an important factor for every project. So who is your partner? What are the benefits you get from those relatiionships?
A: We are currently getting many partnership requests from a lot of promising projects and the partnership will be announced as soon as it is confirmed.
Q: Can you share to us your tokenomics? How much is the total and circulation supply of your tokens? Will there be buy back system or token burning in the future?
A: Our tokenomics is formed in a way that the more people use our service, the more our token value goes up. How PLX token will be distributed is in PLEXUS docs(https://docs.plexus.app/plexus/tokenomics/tokenomics).
Q: What are the benefits of holding your token as long term investment? Can you tell us about the motivation and benefits for investors to keep the your token in the long run?
A: We have great partnerships coming and our project features are second to none. Also if you invest in our project now, it’s very early with very low market cap. In the long term, investors will benefit a lot.
Q: What strategy will you implement to bring non-crypto-natives into your ecosystem? How do you keep a balance between developing the technology and also improving the value of your token?
A: Our project interface is very user-friendly and we believe that a good project maximizes user experience. We will make a project that anyone can use without understanding the technology behind it.