Recapitulation of DexFolio PROJECT AMA event held at AMA LOVERS CLUB.
Date: Wednesday, 21st July, 2021
Time: 12:30 UTC
The DexFolio PROJECT team was represented by @Bishopbenemos and @Mertarioglu who judiciously shared with us detailed knowledge and information about DexFolio PROJECT.
1st Segment: INTRODUCTION
Q1: Can you please introduce yourself and your background, also introduce the team working on DEXFOLIO?
ANS: Hi I'm Bishop Benemos and I started Dexfolio after struggling to track my Uniswap and Pancake swap investments!
I started this myself! Along the way I've grown the team to over 6 people!
We have Ben Sash our CPO, Yasin Futallayev our Solidity & Smart Contract Developer, Yaakov Sash our Blockchain Strategist, Saurabh Bansal our Business Advisor, and Saurabh Bansal our Legal Advisor!
Full team breakdown coming in the official whitepaper!
We also have a team of 6 developing the app through our strategic partner: Linkup Studio!
They are incredible!
We just pushed a update with 3 weeks worth of work in one week!
Q2: Can you introduce DEXFOLIO, what critical problems does it solve that existing solutions are not solving and what's the competitive advantage?
ANS: Currently there's a critical issue with DEX investing
and no one has the answer but us
Look at every single tracker
they all make you set manual alerts to get meaninglful notifications
we know there's a need for automatic alerts because a lot of trackers added something called "significant change alerts"
but this isn't customized to you
it's just based on the increase/decrease in a 24hr range
so you just keep getting pinged for alerts you don't care about
Our system alerts you based on your COST
So we pull you trading data straight off the blockchain
using Covalent's API
and we determine your COST
for every token purchased on a DEX
and then we automatically alert you when your tokens hit a % change milestone
which is increments of 100% increases and 10% decreases
And in our next update you can turn on strong alert mode where you'll also get alerts for 10%, 25%, 50%, 75% increases
But this is all from your COST
so for example if you paid $1 for a token, you'll get alerted when it's at $2
and you never need to set an alert
you can literally not open the app for a year and get alerts for new coins you buy.
Q3: Can you briefly describe the top milestones you have achieved and your target milestones with timelines, also share your roadmap?
ANS: We built our entire roadmap straight in trello so the community can see what we're working on at all times: https://trello.com/b/eGeQz3Is/dexfolio-roadmap
The community can vote on new features and submit feedback
Our next big goal is to shift from beta to a fully approved app!
Our current huge achievment is getting this app built and working before our launch! Not many projects have that accomplishment
We built an incredible community that cares about the product and is always giving awesome feature suggestions and bug reports!
We want to add more chains (currently have ETH and BSC), LP tracking, changing the base currency, editing the average cost, and more!
Q4: Can you briefly describe your PARTNERSHIPS so far?
ANS: Yes! LinkUp as I mentioned before is working on the app development, providing developers, UX designers, Quailty Assurance specialists, and Project managers
We have a partnership with Lthium Ventures, a cryptocurrency fund to incorporate our tracking technology for a custom solution to offer live NAV tracking to their fund investors!
Then we have a partnership with Sold Group who is providing smart contract auditing for all our project code!
Lastly we have a partnership with CryptoBuddy, the crypto events aggregator and research platform, to assist in tracking critical crypto trends, carrying out quality research, and strategic partnership outreach.
Q5: Can you give an overview of your Tokenomics, and the UTILITY of the $DEXF Token?
ANS: We wanted to focus on giving real utility to our token!
Just governance doesn't actually give value to a token: There needs to be an incentive to hold it or buy it
So we made the core utility of DEXF, that you need to spend it to get access to pro features on the app!
And 50% of spent DEXF gets burned! So we have some deflation. The other 50% gets put into the treasury which is spent on governance proposals and other project ventures
The treasury is realing over 10 years, so that should give you an idea of ow long term we're thinking for this project
Btw the day one market cap will be $75K! Which is intentional: We want there to be room to grow for this token!
Also, we have allocated 34% of the total supply just for staking rewards! So day one after listing you can stake you DEXF LP tokens on our dApp for aweosme rewards and governance votes!
Btw here's a link to our chat https://t.me/DexfolioChat!
2nd Segment: LIVE Questions
Q1: I love how the Automatic alert feature works and I'm sure many users would love it as well. I just want to know if it could work even if I'm offline? Probably when my data is off, can I Still get an Sms alert on my phone so that i don't miss it?
ANS: That's a common request! Simple answer: we're working on it now!
Q2: CryptoCurrent claimed that there're simply too many red flags for them to continue to offer services to You; With an anonymous dev team being switched last minute, the existence of a “freeze” function in the Smart contract that could make user unable to transfer or sell asset.
1. How would you respond to this claims so that investors would know why you took those decisions?
2. As a multiple DEXs, how do you intend to achieve scalability which will lead to a longer block confirmation time and slower transaction speed?
ANS: Great question!
We believe in always making decisions that benefit our holders! There were sudden issues with the previous dev team, so of course we switched to a new dev team FOR THE APP (and we told them right away)! We never switched smart contract developers—we've been working with Yasin since the beginning! Being leader means making tough decisions, fast. Sometimes you don't have time to deliberate.
And the freeze function is actually a necessary feature for preventing bots from buying the token. Many tokens have this funtion.
It a mutual decision to split ways, and it's worked out well for us.
Q3: While going trough the app I found out that there are a lot of Bugs, also there have not be constant alerts. Has this issue been fixed? Can users add liquidity and earn rewards?
ANS: Yes, the alerts turned off because we were sending too many requests to Covalent because of the huge influx of beta testers! Rest assured we're resolving this as we speak—and will likely be fixed today! sers will be able to stake LP tokens on our custom dApp to get rewards!
Q4: Part of your revenue model is based on subscriptions from users to unlock PRO features and access to the app will cost $15 in DEXF tokens each month. So is there a way that this amount will be reduced in the nearest future? And what will the subscription fee from users be used for?
What other ways does Dexfolio get revenue from apart from the subscription fee?
ANS: Subscription fees will be used for expanding the app's features, marketing campaigns, and governance proposals!
We will also get revenue through offering our tracking technology as an API and charging a monthly fee, advertertisments in app, offering live tracking to crypto funds also for a monthyl cost.
Q5: INTELLIGENT ALERTS is one of your project best features and i want to understand more about it...can you tell us what us the unique things about it and what make it better than the other alerts?
ANS: You never need to open the app and you'll get alerted for old tokens you're holding new tokens you buy! And the alerts will matter to you because they're based on your average cost you paid for the token! So you will get notified when it goes 2x form what you paid for example.
Q6: Your team talked about 3 projects which was audited by solid, when do you intend to audit by solid or certik?
2.Will 20% DEXF TEMP converted to real DEXF when list? And what follow next?
ANS: We'll be sharing the full audit today! Yes, 20% will convert automatically after listing and then 20% each following week.
Q7: DEXFOLIO is looking a very good project. So i want to join the IDO. Is there still any chance to join? If yes, tell me the way. And why you choose OXBULL for the IDO?
ANS: YES!! There is! You can join the IDO's tier 4 whitelist and you don't need to hold any of the launchpad's token if you get whitelisted: https://app.viralsweep.com/sweeps/full/a09730-92143?framed=1
Follow Us On Our Various Social Media Communities For More Update;
A multi-DEX portfolio tracker with a one-tap alert system. DEXF runs on BSC and is used for pro features, staking, and governance.
✅ 75K Market Cap day one
🔥Working product live now, with weekly updates
🙌 Full web dApp with LP farming and Governance
🔔 Dexfolio is the only crypto tracker with automatic alerts!
💪 Use DEXF for pro app features, staking, and governance
🎸 Rockstar team
📱 iOS and android app
🎩 Modern UX/UI
➡️Whitelist for DEXF IDO on OxBull: https://app.viralsweep.com/sweeps/full/a09730-92143?framed=1
Enter this sweepstakes to get a chance to join tier 4 of the Dexfolio IDO!💙
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