Recapitulation of DeFiMEX-RushB Headquarter AMA event held at AMA LOVERS CLUB
Date: Tuesday, 20th October, 2020
Time: 11:00 UTC
The DeFiMEX-RushB team was represented by core members of the project. They both judiciously shared with us detailed knowledge and information about the project.
1st Segment: INTRODUCTION
Q1 : Can you please introduce yourselves and your backgrounds, also if you have team members introduce them
Ans : Sure. First of all, nice to meet you AMA Lovers Club members! It is my honor to be speaking here. The DeFiMEX project is at its very early stage and we started to spread our influence just a month ago, so I felt thrilled when I received AMA Lovers Leader’s email about the great opportunity to host this AMA event.
Although we are an anonymous team, I am still open to introduce some insensitive information.
The DeFiMEX team is leading by two core developers. The first is an architecturer who has been developing business systems for over a decade. The second is an eight-year trader and developer who has been focusing on blockchain and cryptocurrencies for almost 1/3 length of his life.
The other members are mostly coders who has at least 2 years of blockchain/smart contract experience. This team is capable of building its original smart contract engine (WebAssembly-based and Rule-template-based), contract programing languages, IDE and many technical infrastructures. You can find out in https://docs.defimex.io/defimex/roadmap.
The team is also providing blockchain courses for the undergraduates in several large universities. So, one day if you found the DeFiMEX project in a college’s lab classroom, don’t be surprised.
Q2 : Can you introduce the DeFimex project, what critical problems does it solve that existing solutions are not solving. What’s the UTILITY AND competitive advantage in this DeFi season
Ans : DeFiMEX is a DEX enhancement project currently focusing on a margin trading and funding system for every ERC-20 token. Bringing professional and universal DeFi solutions to users is our primary mission.
UniMEX, the first application powered by DeFiMEX, is the most advanced decentralized margin trading desk directly accessing Uniswap Protocol, with an embedded funding facility which unlocks all tokens’ leverage markets.
$RushB is the incentive token to motivate the asset supply service in DeFiMEX ecosystem. Its innovation, Stratified Harvest Regulators, ensures sustainable APY for funding providers and makes UniMEX a low-cost & liquidity-plenty platform.
As we posted in our documents, a free and vibrant long-tail ecosystem is one of the factors which attract people to migrate from CeFi to DeFi. Once upon a time, besides Bitcoin, every token was part of the long tail, and it was the long tail which grew into today’s magnificent market. To make sure the great movement sustains, the DeFiMEX project will fulfill its commitment. That is, we will devote ourselves into building a more liberal, transparent and equal community of cryptocurrencies.
Today, there have been more than 10K pairs of altcoin markets listed on DEXes, and the construction of markets is nearly zero-cost. It is thrilled to foresee that hundreds of billions of funds can be freely accessed and priced from all over the world in this upcoming decade. Providing a universal infrastructure of every token’s price discovery, asset management and risk defensing is so important for the users to locate value and the industry to expand itself. DeFiMEX is carrying the mission.
Q3 : Can you briefly describe the Top milestones you have achieved and your future target milestones with timelines. Also share your roadmap
Ans : First, you can see from the link ROADMAP above, which has shown the achievements we made for the foundation of our work. Second, we have already provided product previews of UniMEX, a library of documentation for all community members to work with us, and a fully original token incentive model, RushB mining protocol.
We are now on the proof stage, that is, to build a full simulation environment on a testnet and then verify the MVP. Once we are ready, we will publish the testnet and let everyone join in. The test is going to continue, at least across the first season of 2021. By then, a fully functional version will come out in the next year.
2nd Segment: TWITTER QUESTIONS
Q1 : Your project is very complete but with so many competitors offering attractive projects Defi, Are you afraid of being defeated by your competitors? Or are you confident in your feature and sure you can achieve success?how your strategy to beaten competitors?
Ans : Great question. The fact is, currently there is no projects evaluated as a competitor against the DeFiMEX project, or UniMEX or RushB token.
Let’s take a look at the currently on-chain margin trading platforms, like DYDX, Radar Relay and DDEX. They have no AMM features (means no depth for traders). They only support limited trading pairs like ETH/USDT. These projects are not going to keep up in the upcoming race.
On the other hand, the lending protocols are providing senseless leverage (under 1x), which is completely not practical for margin trading. And of course, the token lists on such protocol are highly restricted too.
To be honest, we believe that if we have the DeFiMEX asset supply system launched, and let RushB start its motivation, the overwhelming liquidity of funding will defeat literally every leverage platform on earth.
Q2 : UniMEX is the first trading platform on DeFiMEX. So can UniMEX meet all the features and needs of the financial ecosystem? Can it provide Speed, Security, robust infrastructure, innovative ecosystem, stable use, and traditional banking solutions?
Ans : First I need to make it clear that at this stage, DeFiMEX with its product UniMEX is providing banking and broker solution both, since you can trade all kinds of ERC-20 with UniMEX using Uniswap’s liquidity and manage your assests via the supply system as well.
And, you must understand that UniMEX is not replacing Uniswap. It is an enhancement solution integrated with Uniswap. Your trading orders are still processed by Uniswap protocol, but via UniMEX’s desk, you will be able to enjoy unprecedented experiences which Uniswap does not offer.
As a trader, you can:
- Place limit/stop orders,
- Do normal spot trading with more professional interfaces,
- Borrow funds to long/short at up to 5x leverage with ZERO interest cost.
Above is the preview of UniMEX trading pannel. Full functions. There will be a simplified version for moblie and starters too.
As a funding supplier, you can
-Supply funds to earn highly profitable incentive, RushB token.
As a project founder, you can
- Establish a supply pool of your token for your investors to farm.
Above is the preview of DeFiMEX supply system.
You can see that DeFiMEX project is not merely building a trading tool, but also developing an organic system for the entire ERC-20 long-tail market. No matter you want to trade conveniently, to manage your assets efficiently, or even benefit your own token, UniMEX with RushB will fill your demand.
Concerning speed and efficiency, We use our own blockchain as the layer-2 solution to run most computational tasks, so UniMEX’s users are not going to suffer more waiting time or gas fees on our contracts.
Since Uniswap AMM (for now, V2) is running on layer-1, our way of implementation is by the concept ‘computation migration’. That is, you don’t need to lock your ERC-20 assets on Ethereum and then trade another form on layer-2. You experiences are still fully on Ethereum, but the gas is largely saved because our blockchain proceeds most logic of the operations.
Also safety is highly concerned. We have seen that many safety incidents happened recently on smart contracts. It is because a large portion of developers in this industry are not professional or experienced in building commercial-level software.
Fortunately, the DeFiMEX team is leading by an architecturer who has been developing business systems for over a decade. Under his command, we started our own blockchain project 3 years ago and have been trained into an invincible force in blockchain safety research. In the near future, we will provide solid solutions in our documents and codes covering every corner of contract/cross-chain security issues.
Before the deployment, the system must pass multiple contract audits by world-class security companies. There will be bounty program continuously searching for bugs and vulnerability after the release.
Q3 : Why should I trust #DEFIMEX that you won’t exit scam and steal our funds?
Ans : There are indeed lots of scammers in today’s market, especially on DeFi where everyone is concerning privacy and anti-regulation, including founders themselves. As an investor, it is important for you to take some effort in researching the project, in order to distinguish it from the uncertainty. The fastest way is seeing how much has been done by the team actually.
DeFiMEX, as a project on the early stage, has provided sufficient proof of our ambition, vision and hard work. We have well-built webpages, comprehensively-designed product previews, a complete library of documentation, and a fully original token incentive model which has rigorous principle design, a mathematical verification and implementation guidelines. This level of work is targeting the high end market and anyone should feel deeply in heart that DeFiMEX is determined firmly to build a real solution for the industry. Seeing is believing.
Like Uniswap and many other dapps, the DeFiMEX software family does not require KYC and custodian services. We will have our front/back-end codes open-sourced before releasing the software. You funds will be secured by Ethereum with audited codes and a distributed power structure on chain. Code is law.
3rd Segment: LIVE QUESTIONS
Q1 : How does the Stratified Harvest Regulators innovation work? How do you ensure a sustainable APY for low-cost and funders?
Ans : I am so glad to answer the first question directly hit on our key design: Stratified Harvest Regulators.
The purpose of Stratified Harvest Regulators is to pilot funds into destination pools that the protocol wants. The allocation of asset is spontaneously adjusted by the asset providers, while any movement of funds will cause yield rebalancing by the regulators. Motivated by this protocol, the DeFiMEX funding supply system will be able to concentrate endless assets to support the prosperity of the DeFi market.
Want to know about how RushB can maintain its price automatically? It is highly recommended to read the article and you will be impressed.
As a trader, you will be able to borrow funds for margin trading at zero interest. As a supplier, you will be rewarded with sustainable return.
The APY is the key, while the Stratified Harvest Regulators provides Yield-Adaptiveness nature to make sure the price is considerable for a sustaining APY.
Q2 : I really want to farm but I don’t want to take any risk. Are there any other options available for me so that I won’t lose my assets?
Ans : Yes there is. Supply the funds in any respective Reserve Pool, which is a totally safe bank.
Q3 : What Is the Advantages Of The Long Term Investment In The Token DeFiMex?
Ans : The best way to be a longterm supporter is by holding and staking RushB into the pool. In the future, starting on DAY 1 when the system launches, please be a firm funding supplier of RushB, and you will definitely thank me for this advice.
Q4 : Are you a global project or local project? Can anybody anywhere use #Rushbtoken without Any restrictions?
Ans : This is a fully decentralized system running on the internet. We are staying anonymous. The whole team of DeFiMEX project is not operating or located in U.S. territory, and we are not under SEC, CFTC, IRS and other departments’ regulation. The world’s strongest government cannot shut down DeFiMEX system or manipulate your assets on it, and so the others.
UniMEX with RushB is a globalized service. We serve all traders, asset suppliers and project founders from every continent with barely thresholds. With the help of a more user-friendly and profitable platform, we are aiming to attract more users from CEXes and non-crypto worlds.
Q5 : What excellent features does Defimex have compared to other staking platform?
Ans : Good to hear the questions about our token model’s features. As I highlighted at the top of the article https://docs.defimex.io/rushb-token/rushb-a-yield-adaptive-posterior-mining-model, ‘the key is RushB’. The whole system is motivated by RushB token, as first of all, the funding pools are contributed by all types of tokens staking by suppliers. You, if wanting to earn rewards at a sustainable APY, should provide your assets to our funding system via UniMEX interface. The pools support RushB, USDT, USDC, DAI, ETH, LINK, YFI, SUSHI, WBTC, DEGO, SNX…and almost every token listing on Uniswap — This will be a staking system for the entire ERC-20 community. All staking is rewarded with RushB.
To understand how the RushB mining model keeps a sustaining APY, you need to read the foundation paperwork of our project, the Principle of RushB Token (https://docs.defimex.io/rushb-token/the-principle-of-rushb-token).
It’s exciting to see a question on the staking mechanism, so I’d like to talk more about the instablecoin supply. If we say the United Supply Pool is a whales’ vault for USD, then the Instablecoin Supply Pool is exactly the vault for people. According to our design, the DeFiMEX asset supply system will eventually allow hundreds (or even thousands) of ERC-20 tokens to be supplied and farmed in respective pools. All your tokens, no matter how much it worth, are likely to be staking for RushB reward. Just like on the Uniswap, you can set up a liquidity pool for any token, you can do the same thing here, and your return could be even much higher. We refer this concept as Inclusive Farming. As we posted on the website ‘Long Live the Long Tail’, the next bull market might be triggered by RushB mining protocol.
Before going, please do good to share every useful links to project and also do you have any Final Words. Also share about the Presale and how we can get in
Ans : To members who are interested in presale, we are now starting our first round.
First, please check the presale overview info here: https://defimex.medium.com/rushb-token-presale-5feb39195ef9
DeFiMEX Community Shortcuts:
Project Homepage: https://defimex.io/
Product Homepage: https://unimex.io/
RushB Homepage: https://defimex.io/rushb/
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