DEXFIN has had many tasks and accomplishments checked off the ‘to-do list’ this year from a successful ICO to our cooperation with VICTORIA VR to sponsoring the Mercedes-VGP. Of course, with all these accomplishments completed, it can be difficult for some to keep up with everything going on here at DEXFIN. On Wednesday, December 2nd, 2020, Kamil Brejcha (Founder) and Jonathan Gray (Product Marketing Manager) hosted a live AMA (Ask Me Anything) on P2PB2B Exchange chat about the progress of our DXF token, DEXFIN Exchange, and our future products and services.
In this blog post, we recap the AMA session and feature questions asked by community members as well as DEXFIN’s answers. (The subheadings were added.)
Ambassador Program, 11% APY From DXF Tokens
User: Do you have an Ambassador program? How can I qualify to join?
Jonathan: Yes, we do. If interested, please contact me directly at [email protected].
User: Many tokens dump after launch. How do you intend to prevent that?
Kamil: We do have a staking program, currently more than 50% are locked in the staking program on our exchange. You can earn 11% APY by locking your DXF tokens.
User: Educational Programs are really helpful for any kind of project beginner users, especially Community based. So, does DEXFIN support educational programs about their DXF token, staking, and essential knowledge about DEXFIN?
Jonathan: Great question. Of course, DEXFIN supports educational programs ranging from beginners to advanced crypto traders. Currently, we have our blog which gives an insight into our project but also updates happening around the crypto sphere.
User: What is VGP? It sounds like a combination of online and offline GP race games. Besides, what is the main role play of VGP in DEXFIN Platform?
Kamil: VGP is an e-game sport focused on racing. We supported 2 drivers during this season. The events were broadcasted on our local cable TV and streamed worldwide on YouTube.
Advantages of DEXFIN Token
User: What are the advantages of the DEXFIN token?
Jonathan: Another great question! One of the biggest advantages of our DXF token is its placement on our DEXFIN Exchange which will result in a decrease in trading fees and a high return on staking! Moreover, we will be releasing other tokens on our DEXFIN Exchange in the following weeks.
Rate of Return, Airdrops
User: Are you offering a guaranteed rate of return to investors?
Kamil: We do have a staking platform for DXF, BTC, USDT with a fixed 5-11% APY.
User: Holders of min. 10,000 DXF tokens will be able to participate in airdrops of newly listed tokens. Will the new token be launched by DEXFIN Team as their Governance Token?
Kamil: Yes, we are planning to roll out a decentralized exchange built on the top of Bitcoin, where our token will work as a governance token. More updates about the decentralized exchange will be rolled out in January 2021.
Security, and Policy
User: How safe is DEXFIN? Do you have developed barriers to prevent the hacking of information found in the DEXFIN Cloud? Is it possible that there is an information leak?
Kamil: To offer the highest security of users’ funds, we are using MPC technology with zero-knowledge proofs. We do not store any private keys on our servers.
User: How can we trust your project? We don’t know anything about your team members.
Jonathan: Transparency is key! Info about our team members, partners, etc. can be found on our website at https://dexfin.com/en/about-us.
User: What is your Monetary Policy? Inflationary? Deflationary? Fixed supply forever or additional tokens to be issued?
Kamil: Fixed supply with no plans to release new tokens.
User: Is the DEXFIN Exchange UI easy to use for new traders? Do you also support leverage trading?
Kamil: I believe it is. Give it a try at www.dexfin.com. Yes, we are planning leveraged trading for Q1 2021.
User: What is your estimate of the DXF market bubble? When do you think it is going to implode?
Kamil: Usually when BTC reaches new ATH altcoins are starting to reach new ATHs like 1-2 months after. So I believe Q1 will be interesting for all altcoins.
User: Is your project fully decentralized and is there some risk of centralization in the future?
Kamil: Our exchange is not decentralized, but we are using MPC technology, which gives users an option to be owners of their keys on the platform.
User: Is a large amount of DXF allocated to the team and founders? How will you assure that the team will not dump their tokens on investors? Will the tokens be locked?
Kamil: Yes, the team tokens are locked with a vesting period of 1 year. We are building a long-term project, so we definitely do not plan to dump our tokens on the market. We have investors’ backing, so we’re not desperate for funds from our tokens.
User: Where did you get the inspiration for this unique project idea? And what influence will DEXFIN have on the crypto industry because of the project?
Kamil: I became interested in crypto through my residency working in the UK around 2011. Our goal with the DXF project is, of course, to make our investors profit, but the long-term objective is to make the concept of cryptocurrency a mainstream concept. Looking at our location, product, and investors, we feel we have an edge over many competing projects.
User: Is there any fee attached to staking DEXFIN tokens? What is the minimum time required for staking DEXFIN token and the plans for staking either with a fixed or locked time?
Jonathan: There is no fee attached. At the moment it is a 1-year minimum. The reason for this was to prevent early investors from dumping tokens early on the market.
User: Nowadays farming or staking is very popular. Do you have any plans of providing farming or staking facility to DFX Investor?
Kamil: We have a staking feature on www.dexfin.com and we are working on a similar solution on uniswap, but working on the top of Bitcoin sidechain – https://app.dexfin.com/swap.
User: Has this crisis affected the DXF project?
Jonathan: No, during the last months we onboarded a few thousands of users on our platform who invested in our token.
User: Do you have any plans to launch DEXFIN Exchange mobile & iOS app?
Kamil: Yes, our mobile apps are being finalized, which you can see at this link. DEXFIN Android app will be released in December, iOS in January.
What Makes DEXFIN Unique
User: Why would users prefer you over other projects? What innovations or other characteristics does it present that other projects do not have that make it unique? What is the main objective that the project wants to achieve?
Kamil: We do not want to be just another crypto exchange. The main goal is to offer trading of tokenized securities which is planned for Q2 next year.
User: Do you have an office somewhere? Or do you work online?
Jonathan: We have offices in Prague, the epicenter of core Bitcoin projects like Slushpool, Trezor, General Bytes ATMs for Bitcoin. However, our team is international and distributed worldwide.
DEXFIN was created with the purpose of providing access to digital currencies as well as tokenized assets to people around the world securely and easily. Through utilizing blockchain technology, DEXFIN plans to democratize and decentralize access to global digital wealth. Stay up to date and join us on: