Soldex AMA

we hosted an amazing AMA with soldex on the 23st of September

And here we will put some of the best questions:

Q1. Can you introduce yourself to our community?

…I’ve been a technology executive for over 20 years. Started in consumer electronics with a global brand….
…About 7 years ago I moved into technology start-ups and then founded my first IoT / AI start-up. …
… For the past two years I’ve added blockchain projects to my list of interests.

Q2. Can you briefly tell us what is

… Soldex is a token exchange that allows users to trade one crypto for another with very low fees. Nothing revolutionary about that yet…
… Soldex rewards SOLX holders with a portion of transaction fees….
… Holders can stake against AI bots to improve the yields on their holdings…
… The big advantages being low cost, speed and higher yields. The first two are benefits of the Solana blockchain. The third will be the result of quality AI bots and demand for the SOLX token.

Q3. Let’s now talk about the milestones you have achieved so far and about your upcoming plans?

… Our initial private sales continue to be better than expected. Now the focus is marketing and awareness for the project leading up to our IDO. …
… Currently we are working on Version 1.0 of the platform….
… in the coming weeks we’ll introduce more about out development partners….
… December 10-15 for listing on a few exchanges.

Q4. Every project has a story behind their name, Can you tell us more about the story behind this? Who are the team behind this project? can tell us their background?

… The project started as a question…. “what if’ Solana could solve the transaction fee and speed issue for exchanging tokens….
… initially the team was crypto entrepreneurs and marketing minds….
… it expanded to include management (ie. myself) and technical expertise…
… technical is hard. Solana is a new ecosystem. We also wanted to add AI elements…

Q5. DeFi is one of the hottest and most sought-after topics in the blockchain space right now. Can you share your opinion on DeFi with us? Do you think DeFi will disrupt the current financial system? What is Soldex’s approach to the DeFi sector?

…Yes #Defi is hot and very misunderstood. Most project in the DeFi space are not DeFi at all. They are still very centralized….
… DeFi is a “buzzword” that gets thrown around a lot to attract attention…
… We want to make Soldex a true DeFi platform. So that will require transparent contracts and decision making….

And here we will put best questions from our members and Soldex fans:

Q1) Since Soldex is based on Solana, it is faster than any other decentralized exchange. But are they just planning to stay in Solana’s current boom network? Do they have plans to expand their interoperability to other chains or will they only be coined by Solana?

The core technology will run on Solana’s Layer 1 which out performs Layer 2 solutions currently available. However, You have to have an onramp…
… The DEX will be able to provide cross chain liquidity with BEP20 and ERC based tokens.

Q2) As we know, AI Powered Trading Cryptocurrency continues to be a very interesting phenomenon. So, What makes SOLDEX outperform its equally developing competitors?

The issue with trading tokens / crypto remains cost, speed and scale….

Q3) Soldex is characterized as an DEX, it is important to attract liquidity and create a large pool, the more liquidity there is in the pool, the less slippage the orders will have. What strategies will you use to attract enough liquidity and thus counteract the slippage of orders?

Part of our Tokenomics is to inject liquidity from the start with common token pairs…
To leverage our bots users will require SOLX. By staking liquidity they will earn SOLX….The bots and low fees will attract liquidity. *Done

Q4) The SOLDEX project appears promising and intriguing, but I’m curious as to what security and transparency methods have been included into their ecosystem in order to show the community that you are a genuine and honest crypto project?

Smart contracts (programs) will provide total transparency…
…we will also be implementing a voting contract so the organization can participate in the future direction…
… we’ll also have a 3rd party security audit done and make that available to the community. *Done

Q5) Can you tell me why you feel that Solana will be the best platform to solve the front running problem? I am curious for my own knowledge, as I honestly don’t know much about Solana’s chain besides it being POS and POH?

At this point it is speed and cost. That is critical for decentralized anything.
… next will be security. That is a risk with all blockchains but security comes with decentralization.
… so if the future is DeFi then Solana is a great technology to compete with Ethereum.

Q6) Do you have AUDIT certificates?
Are you working to AUDIT your project, to make it more secure and reliable?

We will audit the project. Very important part for both security and confidence of the community.

Q7) I have a question about SOLDEX Academy, It says on your website that “We invite all existing and new developers to sign up for the academy”. Where exactly can we sign up for this academy? Will there be a fee for joining? Also, who are eligible to apply for enrollment?

Soldex wants to be approachable for the average investor. The Academy will be a collection of information to help educate those getting into blockchain, DeFi etc.

Q8) IS your platform suitable for Crypto beginners? Or does it only appeal to professional users?

Similar to the last question, yes. The bots will help new investors find strategies that work for them. Approachable by all.

Q9) For any crypto project, 1% of its success comes from the idea itself. 99% comes from execution. I have seen many projects fail due to lack of expertise & understanding of how the cryptosphere works. Does have the qualified team needed to fulfill all your goals?

Totally agree. Our team is persistent and willing to pivot when needed. We are here to take this all the way.

Q10) A lot of scam projects lately. Pulling the rug creates a loss for investors. why should we trust your project? Aren’t you going to do the same?

Yes…. scams are everywhere. Scammers will always tell you they’re not scammers. DYOR and make sure you are confident before you jump into any project.

And this was the end of our AMA with Soldex.

If you have any other questions you can ask here:

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