Ask Me Anything with Xodex at ICOSpeaks: AMA Summary July 29-th Xodex 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?
👨💻 Hanz | CEO and Co founder of XODEX | @hanzxodex
The team is compromised of two owners, myself, Hanz and also Nicolai, along with contracted developers working on the blockchain and project.
Unfortunately Nicolai could not be here today but I can tell you about myself and the team, I have been involved in crypto since 2015, investing, trading and studying the markets, I have also run successful businesses in the non-crypto world for many years.
Nicolai is the lead developer and has been a software engineer for over 15 years, he has worked with many large international development companies, created applications and has a vast knowledge of security and blockchain technology.
2️⃣ Block 2 – project introduction by speakers
First set of questions to introduce the project!
Q: Can you tell us what XODEX is please?
A: Our project is Xodex, an ecosystem centred around our zero gas blockchain, launchpad, DEX and a CEX, WE have just launched our test net version of the blockchain and we will also be listing on a tier 2 exchange this month and launching our launchpad project and DEX within the quarter.
The Xodex token launched on the BSC network in March 2022, we chose the BSC network as it was already established and this allowed for extra exposure and to build awareness of our project, we had a very successful launch, our starting market cap at launch was 350k and today we sit at just over 8M with our ATH being around 10-11M market cap, we anticipate we have much further to grow, but we don’t like to talk about price predictions too much as we like to focus on the development of the project which is the most important thing to us.
One of the first things we did was implement staking rewards for users so they can be rewarded whilst they wait for us to develop the blockchain, we are very much focused on building a community so 3% of the buy and sell taxes are used for staking rewards, we pay up to 100% APR but the average has been 15-20% based on current volume since launch, as volume increase so will the APR.
The main thing we are here to talk about is that the test net version of our blockchain that has just launched last week, we are aiming to lauch the main network once testing is complete by the community
Q: What challenges in the crypto space would Xodex aims to solve and solution will given?
A: Xodex is here to solve some of the problems that exist in the current blockchain-based projects such as high gas fees and network congestion.
We will do this via two methods, the first is our blockchain will require zero gas for sending transactions including, – approving tokens, calling smart contract functions, and deploying smart contracts, users will be able to send tokens instantly to anywhere with a zero gas fee.
The second is we aim to reduce network congestion with our high transaction output, with speeds of up to 100k TPS our network will be among the fastest in the blockchain space, eliminating any lag or congestion which at times leads to high fees on other networks.
As we have solved two major problems many projects will notice this and be able to launch on our network and take advantage of our zero gas transactions, this will create an ecosystem where Xodex will be the number one paired coin with all projects that launch on our chain, thus increasing the Xodex coin use case.
3️⃣ Block 3 – question from ICO Speaks team Block 3 tip: Submit 3 – 4 questions to describe the plans, events, and the best sides and features of your project.
Questions from ICOSpeaks team! Q: Let’s talk about the Xodex ecosystem, what are Xodex core products/features? A:The ecosystem will be made up of multiple projects, First, we have just launched our test net version of our blockchain and we aim to launch our main zero fee blockchain within a few weeks, after this we will implement a bridge between the BSC network and the Xodex network so users can transfer their BSC Xodex to the Xodex main net, allowing them to create or participate in new projects that launch on our network.
To do this we will also launch a launchpad so that new projects can launch on our network and users have a place where they can take advantage and participate in new pre-sales.
We will also create a DEX ( Decentralised exchange), Projects and users will need a place where they can buy / sell / swap their Xodex tokens for other project tokens, allowing the trade of these assets and to also see the growth via charts.
Along with all this, our ecosystem will create a space for gaming and the metaverse, play-to-earn games and gaming, in general, can benefit from our zero fees for swapping items, and exchanging gifts and tokens within their games, this will save players a lot of funds over the longterm.
Q: Please share tokenomics and roadmap of your project.
A:Team development ✅
Pancake swap launch ✅
Telegram group 1000 members ✅
Staking up to 100% APR ✅
Coinmarket cap listing ✅
Coin gecko listing ✅
Blockchain launch – Test net ✅
Blockchain launch – Main net
Cross-chain exploration and bridging
CEX listings for XODEX
Partnerships with DEX for token swaps
DeFi protocols, NFT projects, dApps integration
iOS & Android wallet app
Exchange beta launch
This is our current road map
We have completed staking rewards for users, this one one of the first things we did, as we wanted users to be rewarded whilst they wait for us to develop the project, we are very much focused on building a community, 3% of the buy and sell taxes are used for staking rewards, we pay up to 100% APR but the average has been 15-20% based on current volume since launch, as volume increase so will the APR.
The main thing we are here to talk about is the test net version of our blockchain which launched last week, you can see our block explorer here –
Block Explorer URL – https://explorer-testnet.xo-dex.com
And the network settings to connect to the XODEX network as as follows –
XODEX Test network settings –
Please add a custom network to your Metamask wallet to connect to the Xodex Test network
The meta mask network settings are as follows –
Network Name – XODEX Test Net
New RPC URL – https://testnet.xo-dex.com/rpc
Chain ID – 16965
Currency Symbol – XODEX
The faucet address to receive Xodex to your wallet is – https://xodex-faucet.com/
We will also be launching the launchpad stage of the project over the next 4 weeks, In our main telegram (https://t.me/XODEXofficalgroup) chat you can get updates and more information on this as It comes.
Along with the launch of the blockchain test net, we will also be seeking a listing on a centralised exchange, we can not confirm the name just yet but it will be a high-quality mid-tier exchange.
Overall we have a fascinating few months ahead, and a lot to share with you!
Q: You know marketing is an important factor for every project. What is your strategy to attract new users and investors to your platform and keep them for long term?
A: We have an in-depth marketing plan, we are working with well-established marketers.
Currently, we have website banners on many popular websites including BSC scan, we will have coin gecko and poo-coin etc soon too, and website banner ads promoted coin spots on popular sites, email campaigns, telegram call channels, YouTube, Tik Tok and Twitter promotions.
We are also publishing articles weekly, and creating Twitter content along with competitions to increase user interaction.
We also have many YouTube and Twitter, Tik Tok influencers lined up for our blockchain launch.
Overall 3% of the taxes are put aside for marketing, this allows us to have continuous marketing regardless of the market sentiment, we will also be listing on multiple exchanges which in itself opens the door to many people who cant use pancake swap etc, this is a huge marketing boost.
Q: That sounds great, so where can users purchase the XODEX token?
A: Currently users can purchase XODEX on pancake swap, or poocoin, and within the next month we will list on a large mid level exchange which will create much more exposure and allow users to purchase with ease, our contract address is – 0xddd9d7d280c78b564c55beb26562e367d4b9bd8a
Please use slippage between 12-15% for a smooth transaction.
4️⃣ Block 4 – Community Voice. Community asks the questions they are interested in. Q: Do you have AUDIT certificate or are you working to AUDIT your project, so that the security of the project becomes more secure and reliable? A:Yes we currently have two audits, here are the links
Q: Do you have any plan for burning tokens in the future to reduce the supply Of the token and increase its investment attractiveness? A:Yes we have burnt 6% of the supply already, and we plan to burn another 4% totalling 10%, we also do buy backs and burns via the LP fund which 2% of all taxes is paid into
Q: For a project development first of all main priority is having enough fund. Does your team financially capable to run this project? Do you have enough fund for it’s developement Can you tell us that how your project generate the profit? A:We currently charge a buy and sell tax which funds the development and marketing but our blockchain is zero gas and the tax will not be implemented on the Xodex mainnet but we will still generate our revenue to fund staking rewards and project development from the trading fees on our DEX/CEX and also our fees from the launchpad, we will also have a start-up initiative which can create a revenue stream through investments and also user traffic, the tax on the BSC network will slowly be decreased as the project grows. Q: NFTs is hot trending now, Do you have a play to have NFTs in your platform? If so, can you tell us the plans of your project in NFTs? A:Yes we do, We plan to launch a NFT marketplace, users will be able to create, list and exchange NFTs without a gas fee, which will be the main selling point, and yes it will support NFT asset exchange, users can buy and sell and bid on multiple NFTs.
Q: While you build your project, do you take into account community feedbacks and demands?While you build your project, do you take into account community feedbacks and demands? A:Yes we do, the community we have is a very strong and positive one and we are always open to suggestions in our telegram chat
Q: Can you list 1-3 killer features of this project that makes it ahead of its competitors? What is the competitive advantage your project has that you feel most confident about? A:Easy! our Zero gas blockchain, it literally required 0 gas, not 0.0003, its 0. and our high transaction speed, this puts us ahead of all the blockchains currently in the crypto space Q: Regarding the current market situation is too unstable, to restrain investors. So can you give me some good reasons why I should buy your tokens in the current market situation? And also why should your token holders continue to hold?
A:Sure so whilst the market always has a certain aspect of uncertainty to it, we can never predict how the overall market sentiment will be, but what we can control is the development of the Xodex project, as we are not a meme project relying on hype, we are not totally dependant on the market as we have utility, and as long as we continue to develop our project and release our products when the market sentiment changes we will see this reflected in the growth of the Xodex project.
We can still utilise this market as a time to build our branding, and project awareness, along with strengthening our community, then when the bull does return, those ready to find a long-term
ICOSpeaks hosted an AMA Session with the Xodex Team. That’s all for today.