Date: Friday, 8th January, 2021
Time: 15:00 UTC
The Zeedex team was represented by @CheongKyung. He judiciously shared with us detailed knowledge and information about the project.
1st Segment: INTRODUCTION
Q1 : Can you please introduce yourself and your background, also introduce the project ZEEDEX
Ans : Hi everyone, I am Kyunghun Cheong from Zeedex. I have worked for many years in the Blockchain Industry with my last work in The QT Company. Working with 3 more Devs on this amazing project.
Zeedex is a Decentralized Exchange with a motive to Make Things Easy for the Public - and - Unite Users from all Chains.
We understand the difficulties and hurdles of users wanting to support Decentralized Platforms, but feel difficulties due to factors like High Gas Fees and Technical Issues.
We brought a DEX with off-chain match making and on-chain settlements. Trade with zero gas fees.
Enjoy, zeedex is depositless and non custodial, limit orders created on user side, so funds are SAFU.
Q2 : What critical problems does Zeedex solve that existing solutions are not solving and what’s the competitve advantage
Ans : Zeedex solves one of the biggest problems and that is Limit Orders and Gas Fees.
You can set your limit order and lay low unlike uniswap where you are stressed to sell or buy at certain prices.
Talking about Fees, is getting more and more difficult for users to pay those huge gas fees while trading.
So its all about easing out Decentralized Finance Space, we are adopting more and more to become better.
Talking about Advantages now
Advantages Over Uniswap -
Trade With ZERO Gas Fees
Advantages Over IDEX -
NonCustodial, Depositless - All Funds Remain in your wallet even when orders are open in the Orderbook.
Q3 : Can you briefly describe the Top milestones you have achieved and your target milestones with timelines
Ans : The Biggest Achievements of Zeedex are the -
Mainnet on BSC (Binance Smart Chain)
Mainnet on ETH
and the Bridge between ETH <-> BSC Chain for ZDEX Token.
Our next roadmap milestone consists of Launching Zeedex.info an analytical platform for Zeedex, IDEOs, Staking and much more to come.
So its an ongoing process, each day we are progressing and achieving more and more.
2nd Segment: TWITTER Questions
Q1 : Does Zeedex as a Decentralized Exchange have the SAFU feature that is usually implemented by Centralized Exchange? So that if there are tokens that are rug pull or error with the smart contract, user funds are still safe
Ans : First thing we take care while listing a project is the smart contract, which gives us enough confident in the project.
The very important part of Zeedex is that its 'Depositless', so basically funds are neither deposited nor withdrawn.
Even when you have an order open in the orderbook, you don't need to deposit.
Funds always remain in your wallet so we can easily say - Funds are SAFU :)
Q2 : This is my first time hearing about limit order on Decentralized exchanges. So, can you tell us How does your limit orders work? Is it same like as CEX?
Ans : We have developed a Hybrid Model in which matchmaking is done off-chain and settlements are done on-chain.
Basically the Matching Engine is hosted by us, but it cannot be altered since on every limit order creation an ancrypted Order Signature is made.
When order gets matched, our Proxy which already has allowance exchanges the tokens on your behalf.
So its best of both worlds. CEX Experience on a DEX.
Q3 : ZDEX holders will share a 10% revenue generated through ZEEDEX platform. Can you tell us describely about that? Will it be daily basis or monthly basis? And will this going to last for forever or this is only for a limited time?
Ans : Yeah sure,
Zeedex has started an initiative to share revenue with ZDEX Holders.
So we will provide 10% of revenue earned per month, rewards will be settled in USDT at the end of each month,
You get the reward based on the amount of ZDEX you HODL.
Q4: How do you manage to offer gas-free trading, and where does your liquidity come from?
Ans : So, a user pays a fees in % no matter it’s a big or small amount of trade.
We on the backend pay the fees in gewi gas
And collect fees in quote.
Our gas fees is always very variable considering Network congestion, Gas Limits, etc.
So on user’s end we have made is very simple
User is not concerned if he/she has high or low eth for gas
Not concerned how much to pay for gas , what limits, what price.
How much slippage
They just trade with whatever tokens they have.
The process is to make DEX trading as much easy as possible
Q5 : Why did Zeedex choose to use two networks, namely ETH and BSC? Are the list tokens on Zeedex the same both ETH and BSC?
Ans : Zeedex is a Decentralized Exchange with a motive to Make Things Easy for the Public - and - Unite Users from all Chains.
Launched on BSC first, then on ETH and are researching even more chains to launch on.
We are researching and releasing Zeedex on as many chains as possible then later will add interpolarability, inter-chain trading.
3rd Segment: LIVE Questions
Q1 : I’ve seen a lot of projects like Zeedex, that end up failing because they didn’t know how to get people’s attention and make them stay. How are you planning to grow on popularity within the users and make Zeedex stand out between all its equals?
Ans : Zeedex already launched the product within 1 month of sale, which already proves itself that we are well prepared to capture the market.
Our DEX is revolutionary too, Limit Order Depositless, even Binance asks you to deposit funds to trade.
Its just a matter of expanding our influencer base and going heavy into marketing.
Q2 : What are the benefits for holding ZDEX Tokens?
How can I Take part in Staking pools, is there any significant requirement?
Ans : Benefits for holding ZDEX are Fee Discounts on Trades, IDEOs, Staking.
Fee Discount feature is the utility that is already launched, rest are to come soon.
Q3 : ZEEDEX offers the best possible rate structure in the industry and additional discount for having $ZDEX tokens. How much will this additional discount be? Will it depend on the number of $ZDEX tokens I have in my wallet? I hope you can clear it up, thanks!
Ans : Answer in this link https://t.me/amaloversclub/83911
Q4 : Is it Really 100% decentralized? Or there is a risk of Centralization?
Ans : Decentralized
Q5 : What if I bring my friends to invest in your project, is there a rewards or benefits that i can receive?
Talk to us before so we can track, and surely we can reward you something
Alright, please before leaving, do Good to drop every useful links to ZEEDEX
Ans : THanks a lot for having me
It was a great AMA
A Video for you guys :)
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