3X Exchange AMA Recap Crypto Revolution Telegram group

By Crypto Revolution | Crypto Revolution Telegram Group AMA Recaps | 29 Dec 2020

On 21st of December, 3X Exchange conducted an AMA on Crypto Revolution Community. Our guest was Sam, Co-Founder of 3X Exchange. Impressive interest from our Community with a lot of questions on both Twitter and Telegram. Let’s take a look at most interesting points of the AMA.

INTRODUCTION AND TWITTER QUESTIONS

Danny | Crypto Revolution: 3X Exchange AMA is starting. Chat is muted. Happy to have you with us today, Sam. Could you please introduce yourself and tell us how did you get involved into Crypto?

Sam: Hey Dan its my pleasure to be here today. Sure, I started my crypto journey during the early days of 2018 (Not best time for entry lol) and soon joined a leading crypto exchange in south asia as customer relation manager.

Danny | Crypto Revolution: Great. So you have a good Experience in Crypto already. Could you please introduce 3X Exchange in layman’s term to the Community?

Sam: Yeah you can say that. 3x.exchange aim to become first complete decentralized leveraged tokens exchange. We are the world’s first non-custodial leverage tokens exchange to offer liquidation free USD and Coin leveraged tokens both under one platform. For those who don’t understand leveraged tokens should check out FTX leveraged tokens they have plenty of reading material on it.

Danny | Crypto Revolution: This is impressive mission. I am sure you will achieve it! Exchange already working or still in Development?

Sam: So we are almost done with contracts and in next week or 2 we will run internal audit and if all looks good we will ship out testnet and move for external audits.

Danny | Crypto Revolution: The Exchange will have it’s own token right? And actually you are doing Presale at the moment? Could you please share more details for the token and for the Presale?

Sam: 3XT is the utility token of 3x.exchange which in the near future will also act as the governance token for the protocol. 3XT allows its holders to benefit from the dual reward capability of the token. It allows its holders to earn 0.50% of all transaction fees in real time plus 50% of all trading fees generated by the platform in ETH. We have a very interesting tokenomics in place:

TOKEN DETAILS

* Token name: 3XT TOKEN

* Symbol: 3XT

* Max Supply: 1,000 3XT (502 Burned)

* Token Contract: 0x96cf107e446a6e528ffd045f4eb6dff3cdb6a666

* Vesting Contract: https://bit.ly/2WybYoc

* There will be 1% transaction fees on every transfer.

* 50% of transaction fees will be distributed amongst token holders.

* 50% of transaction fees will be sent to “BLACK HOLE” and burned forever.

* 3XT becomes a disinflationary asset which will keep reducing in supply.

TOKEN DISTRIBUTION AND VESTING SCHEDULE

* 500 3XT (50%) — BLACK HOLE (Burn address which will eat 50% of all transaction fees)

* 200 3XT (20%) — Company & Team (25 3XT Vested for 30 days, 25 3XT Vested for 60 days, 50 3XT Vested for 90 Days, 100 3XT Vested for 180 Days)

* 150 3XT (15%) — Pre-sale

* 100 3XT (10%) — Uniswap Liquidity

* 50 3XT (5%) — Early Expenses & Marketing Partners

Danny | Crypto Revolution: Holly cow. This is really good Tokenomics. So much potential in it. With the good working Exchange this has a great future. How people can buy 3XT at the moment?

Sam: Yeah our goal is to make 3XT highest performing asset of 2021. Sure those who wanna participate can join pre-sale on unilock: https://unilock.network/app/#/swap/0x96Cf107E446A6e528FfD045F4eb6dFf3CDB6A666.

Danny | Crypto Revolution: And since we are talking for the Tokenomics is the best time to post the 1st Question from Twitter.

Q1 from @alej_pacedo

What is the difference to 3x Exchange from other platforms like Binance and FTX? With 3x Exchange I always have full control of my assets and the underlying collateral is locked into a fully intelligent contract? How effective is this smart contract? Have you been audited?

Danny | Crypto Revolution: You can start if the Contract is already audited or will be?

Sam: So 3x.exchange intends to do same to leveraged tokens trading what uniswap has done to ERC20 token trading so it would not be wrong to say that 3x.exchange is uniswap for leveraged tokens. As far as code audit is concerned we will have dual external audits before mainnet goes live.

Danny | Crypto Revolution: So you aim to be Uniswap for Leveraged Tokens. Do you think interest is pretty good in trading Leveraged Tokens at the moment?

Sam: We believe as more people join crypto different type of synthetic assets will be in demand and leveraged tokens will have massive demand. Specially for those who don’t wanna get rekt by leveraged or margin trading on binance.

Danny | Crypto Revolution: Yeah. I agree.

Q2 from @albert3990

Leveraged tokens have high risk to lost money and high volatility. Other services like binance you can’t withdrawal the tokens to preserve the balance. Tell me about it, what is the difference of 3x exchange like other competitiors?

Sam: As i explained above 3x.exchange doesn’t keep custody of your assets and you will be intracting directly with the protocol through your metamask or other wallets. Its fully non-custodial in nature hence you are free to move your leveraged tokens anywhere you wish to.

Danny | Crypto Revolution: What will be the fees for it?

Sam: We are still working on this but it shouldn’t be more than.2%.

Danny | Crypto Revolution: Got it. Thank you. Btw what is the soft and hard Cap for the Presale and what’s the plan if you don’t achieve it?

Sam: Soft cap is 30 ETH and Hard cap is 90 ETH we will put token on hold if soft cap isn’t achieved or maybe do a private investor round and directly launch token on uniswap around testnet.

Danny | Crypto Revolution: Got it. This sounds like the right thing to do.

Q3 from @Ontortk

3x Exchange adopts the ERC20 standard, but the Ethereum infrastructure has become an issue in the industry due to the high gas fee. Will 3x Exchange consider switching to its own infrastructure in case of high gas charges?

Danny | Crypto Revolution: Chat get ready for the Quiz Part after the Answer!

Sam: That’s an industry wide problem and i guess we will need to wait patiently for full fledged ETH 2.0. Creating another chain isn’t a viable solution.

Danny | Crypto Revolution: Team of 3X Exchange is public or Anonymous?

Sam: We are anon as we are still employed fulltime.

Danny | Crypto Revolution: Got it. Thank you. What kind of Marketing you guys planning to do except AMAs?

Sam: We are closely working with several reputed TG groups and twitter influencers and post uniswap listing we also plan to collaborate with several crypto you-tubers.

Danny | Crypto Revolution: Got it. Always can recommend some but I’ll talk for it to you later.

Sam: Sure we can discuss that.

Danny | Crypto Revolution: Oh yeah. Thank you for the answers. Ready for the Quiz Part?

Sam: Yes i am ready.

QUIZ PART

Question: What is the easiest way to get rekt on a trade?

Answer: Leveraged or margin trading on binance.

Question: What is the fundamental difference between spot and leveraged trading?

Answer: Spot trading is your normal buying/selling. You spend one currency to get another. Margin trading is not your normal buying/selling. Essentially, a margin trade in one product is a bet on the price of that product, using borrowed money to attempt to amplify your profits.

Question: Which is the biggest leveraged trading exchange in the market atm?

Answer: Binance, hope to see 3x by next year at the top.

Question: What will be the price of bitcoin by 2025?

Best answer: We don’t know the future.

TELEGRAM QUESTIONS

Telegram User:

What is your opinion on all Rug Pulls happening and why 3x Exchange will be different?

Sam: Appreciate your questions. So i personally believe that all the project who rugged investors has always left loopholes which they can exploit later (Some had mint function, some didn’t locked liquidity, few ran away with our money post pre-sale without even listing). It was always us the investors who could not locate these loopholes. We have left ZERO loopholes so even if tomorrow we decide to rug pool (Which off-course is not the case) we just can’t do because from begning the whole tokenomics and contract has been designed in a way that no one can take advantage of it. I hope i was able to answer your question.

Telegram User:

How can having your governance token in my 3x.exchange account benefit me? Would the cost of the fee lower?

Sam: So by holding 3XT token you earn 50% of all trading fees in ETH along with that you also earn.50% fees in real time on every transaction.

Telegram User:

Community is the key to the success of projects, so besides organizing AMA, what strategy does Your project have to reach out and exploit new investors?

Sam: Honestly we don’t want to exploit anyone lol. but we do have several marketing strategies planned for coming days.

Telegram User:

Who is your investor? How do you generate revenue to sustain the project? What are your goals to the end of 2020 and beyond?

Sam: So currently project is fully bootstrapped by the co-founders and team and in the near future we will cover the expenses by charging a fees on every trade and if required by equity fundraising.

CONCLUSION

Danny | Crypto Revolution: Okay. Thank you for your time, Sam. Final Words for Community please before I open the chat?

Sam: It was my pleasure to represent our project in front of this wonderful audience. Do check out our ongoing pre-sale and join us at @my3xt. Thanks for having us today!

Danny | Crypto Revolution: Thanks man for taking from your Valuable time to be with us. Opening the chat now.

For more information and future AMAs, join our Social Media channels:

Website: https://crypto-revolution.io

Telegram group: https://t.me/crypto_revolution1

Twitter: https://twitter.com/revolut20?s=09

Our Partner:

Website: https://3x.exchange/

Telegram group: https://t.me/my3xt

Twitter: https://twitter.com/my3xt

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