GIBXSwap x IM community AMA RECAP
TELEGRAM AMA: Im Community & GIBXSwap 🐋
⏰ AMA Timing : 18 November 2021 l 12:00 PM UTC l 19:00 GMT +7
Venue For AMA : https://t.me/imcommunityitw
🎁 Reward Pool 100 USDT
Bà Tân | : Welcome everyone. Today Im Community will host AMA with GIBXSwap
Bà Tân | : Today our guest is: @Davcameron from GIBXSwap
David Cameron : Thank you for having me today
Ahrix : Welcome @Davcameron to the IM community.
Bà Tân | : Can you introduce yourself to our Im Community?
David Cameron : I am David Cameron, the Sales and Marketing Vice President of GIBX . Thanks again for having me here today
Bà Tân | : Thanks for the introduction.
Bà Tân | : Today’s AMA will have 2 sessions
Sessions 1: The chat will be muted & the team will introduce themselves then we will ask some introduction questions to the team GIBXSwap
Sessions 2: We will pick 10 Best Question from our members on Our Tweet (https://twitter.com/IM_Communityitw/status/1460627290677673987).
Bà Tân | : Requirements:
���Im Community (https://t.me/imcommunityitw)
���Twitter GIBX Swap (https://twitter.com/GIBX_Swap)
���More information about GIBXSwap :
Bà Tân | : Start session 1 AMA @Davcameron
Bà Tân | : Question1. Can you briefly describe what is GIBXSwap? We would like to know more about it and how it works. @Davcameron
David Cameron : I would be delighted to. First of all, GIBXSWAP is a decentralized exchange platform on the market, focused on mainstream cryptocurrencies. We aim to become a benchmark for DEX platforms. We want to take up the mantle of becoming one of the leading DEX platforms on the market for token swaps.
As a DEX, GIBXSwap provides every possible function that a DEX can with a team of professionals ensuring that it is safe, reliable, and useful for all users. GIBXSwap also has its own platform currency, Token X, and users of GIBXSwap will be able to farm this token in our DEX and use it as they see fit, be it for farming more or to liquidate.
Ahrix : @Davcameron Please say “Done” when you have finished the question, thank you.
David Cameron : Done
Bà Tân | : Question2. What features does the GIBXSwap Swap Platform have that stand out to attract users compared to other projects? @Davcameron
David Cameron : 0.05% of each transaction conducted on GIBXSwap will be repurchased and burned every week. By having this coinburn mechanism, token X itself will become a deflationary token which decreases in supply overtime, therefore raising its value. Besides the coinburn mechanism, token X will also support cross-chain operability in BSC, HECO and Ethereum, so it will be able to attract liquidity from different chains.
This also means that token holders are able to swap for non-native tokens aside from BSC. Token X will also be the only platform currency for GIBXSwap and it has its utility throughout the exchange which will definitely bring a much higher value to the token itself. This cross-chain operability is a function that many DEX lack. Even those that do may not have the cross-chain operability ability that GIBXSwap does.
Not only that, to ensure the safety of our platform. GIBXSWAP has also been audited by CertiK, eliminating safety issues that can be found in Decentralized Exchanges. The official certification can be found on the website of our DEX itself.
Bà Tân | : Question3.What role does the $X token play in your ecosystem? What are the benefits of long-term holding? @Davcameron
David Cameron : As I mentioned in the two previous question’s answers, first of all, token X is a deflationary token with a coinburn mechanism which will increase its value as it’s supply drops.
Secondly, GIBXSwap’s Token X supports cross-chain operability in BSC, HECO, and Ethereum. This will open many doors for cooperation, usability, and feasibility for Token X in the future which is amazing for all users as it gives them more options to choose from.
Bà Tân | : Question4. Can GIBXSwap team please update some GIBXSwap latest news or major events to attract more users? @Davcameron
David Cameron : Alright, this is some exciting stuff, so let’s get into it. I’m sure everyone is aware of Facebook rebranding to Meta, and how it is in regards to the metaverse.
Well, GIBXSwap is currently actively deploying our GIBXSwap V2 which will be incorporating the multi-element “Defi+NFT” , birthing a new meta-universe model. GIBXSwap V2 will introduce DeFi as the veteran underlying economic model, whereas NFT will be used as the underlying support for the collectible market. The goal is to attract cryptocurrency collectors as the aborigines of this new Metaverse through its collections.
Bà Tân | : Question5. Can you please tell us the current GIBXSwap road map? How far has GIBXSwap been developed at this time? and what will you realize in the future? @Davcameron
David Cameron : I’ll be glad to. So first of all, GIBXSwap will be creating NFTs of our own. As I mentioned earlier, our GIBXSwap V2 is currently being actively deployed so bringing forth our own NFTs will be highly beneficial. We will also be implementing the use of different languages in our Swap to ease operability for users from across the globe. Furthermore, the Cross chain interoperability I mentioned earlier will have a “bridge” to swap tokens from different blockchains for our users to have more possibilities. We will also be constantly adding new farming pools to keep our Swap active with multiple collaborations with other Swaps
Bà Tân | : Alright, Session 1 has finished perfectly. Appreciate your detailed responses @Davcameron ���
Bà Tân | : End of session 1
Bà Tân | : We will move on to session 2
Bà Tân | : Sessions 2: We will pick 5 Best Question from our members on Our Tweet (https://twitter.com/IM_Communityitw/status/1460627290677673987).
Bà Tân | : Question1. @SilasFarrer
Staking is the new trend. What staking options are available for GIBXSwap ? Are there any incentives for staking? What are the various ways to earn X and are there any limits to amount of $X I can earn?
David Cameron : GIBX Swap Pool offers multiple farming opportunities to our users. You can stake your LP tokens and earn X tokens in return. We will incentivize many liquidity pairs by offering our Liquidity Providers the chance to stake their LP tokens in our farms.
When a person adds liquidity to the pool, he/she will receive LP tokens. For example, if a person added liquidity to a $BNB / $USDT pair, he/she received BNB-USDT LP tokens. In addition to transaction fee rewards, the user can go to “Farms”, stake these LP tokens and earn USDT tokens in return.
Above all there is no upper limit to the amount of token X a user is able to earn!
Bà Tân | : Question2. @AlexanderDao3
Can you list 1–3 killer features of Your Project that makes it ahead of its competitors? What is the competitive advantage your platform has that you feel most confident about?
David Cameron : That’s easy. I’ve mentioned a few already:
1. Our X Token being the governing token of our DEX paired with the coinburn mechanism makes it ahead of most other new tokens entering the market.
2. The cross chain interoperability of our token X.
3. The safety and complete auditing of our GIBXSwap with CertiK
Bà Tân | : Question3. @AudreyEdana
One of the main problems with smart contracts today is that there is a very high risk of bugs that allow Hackers to Steal the Funds and incur significant losses for project and its users. Can you tell us about the solutions that GIBX Swap offers to prevent this?
David Cameron : The safety aspects of any platform is always a big concern for any user especially when getting to know a new project. Our GIBXSwap team is always on the ball to ensure the safety of our DEX as well as monitoring our smart contracts to run at its best capabilities. We are also continuously searching for ways to improve the DEX and pursuing new technologies to further strengthen the system.
Furthermore we are determined to run a clean ship and have continuous auditing to ensure GIBXSwap remains a safe and reliable platform for all users. Is GIBXSwap ready for any attempted hack into its systems? In this regard, just as I’ve mentioned earlier, we have completed a thorough official audit by CertiK, which specializes in blockchain security utilizing cutting-edge technology to secure smart contracts and blockchains. After the audit, CertiK has once again confirmed that the source code delivered by GIBXSwap has a very high level of security and affirmed GIBXSwap’s initiative in performing security tests.
Bà Tân | : Question4. @RKieram
How does project increase the token’s value, liquidity and utility ? So that it can lead to an increase in token prices ? What is your plan to make your project stable and provide the highest return for investors in the long term ?
David Cameron : The tokenomics of X ensures that the value of the token is always increasing due to its deflationary features as well as the usability of the token. With more functions for the coin such as the Metaverse developments paired with the coinburn mechanism, the token will have more demand and less supply moving forward.
Bà Tân | : Question5. @DermotClement
Many investors are only interested in the token price and their profit in the short term while only a small part of them are interested in the long-term development of the project as well as the technology of the platform. So does your team have a solution to balance this?
David Cameron : That’s a great question. Our team is determined to create a balanced ecosystem where short term and the long term profitability of the project can be maintained and further improved upon. While we have our staking and farming options, the team will also work towards implementing NFTs and other collaborations into GIBXSwap to provide an even more diversified platform for our investors.
Bà Tân | : Question 6: @basilaazaria
Collaborations and partnerships are some of the most important cornerstones to help improve adoption. Can you tell us about your current partners, plans for partnerships and what everybody stands to gain from these partnerships?
David Cameron : To elaborate more on our partnerships and collaborations, GIBXSwap is determined to work with other projects to bring in more liquidity and attract new users to the platform. Previous partnerships may include other DEX such as Sushiswap.
Bà Tân | : Question 7: @ThienSophronia
How do plan to spread awareness about your project in different countries where English is not spoken well? Do you have local communities for them to let them better understand about your project?
David Cameron : Yes, of course. GIBXSwap is an international DEX and our targeted market exists worldwide. Currently, we have social media communities in our telegram group in multiple different languages where users are able to interact. Our DEX also has the English and Chinese language implemented for majority of the users.
Bà Tân | : Question 8: @Canhphuong5
Can you share the tokenmics and utility details of your tokens? Where can I buy it and what is its current price? Can you give all the links to your platform if possible?
David Cameron : Token X is the platform token of GIBXSwap. It is a native token of the Binance Smart Chain (BSC) and it has a max supply of 1,000,000,000 X. The Initial Allocation of X is 1% (10,000,000 X) for ILO. 9% (90,000,000 X) will be used for partnership with ecological construction, including marketing, promotional activities, liquidity management — unlocked linearly in 9 months. Another 10% (100,000,000 X) will be used for development — unlocked linearly in 20 months. And the final 80% (800,000,000 X) will be allocated to X community members, in which 40% can be earned through Trade Mining, another 40% can be earned through the LP Pool, and 20% can be earned through the Single Pool.
Bà Tân | : Question 9: @NguyenHungdkz
For DEXes, Liquidity issue is the major problem compared to centralized ones. How does GIBX Swap can solve liquidity problem and create the liquidity for DEXes which is different from CEXes? Are all assets on GIBX Swap insured and SAFU?
David Cameron : There are currently a few CEX that are in the midst of listing our X token as we speak. I believe this is enough proof how other exchanges are confident with our tokenomics. Furthermore, with the listing of our X token in different CEX, it directs more players to our SWAP. This will inadvertently provide liquidity to GIBXSwap as a way to farm X token.
We will also be doing collaborations of different farming pools in other DEX that will also increase our exposure to different communities allowing us to gain market confidence in our SWAP, therefore liquidity is not definitely not an issue we are concerned about. As audited by Certik, GIBXSwap is not just certified but also proven safe. All funds are handled through smart contracts which none of the committee from SWAP is able to manipulate whatsoever.
Bà Tân | : Question 10: @GideonFergus
So, do you have any plan for burning tokens in the future to reduce the supply of the token and increase its investment attractiveness?
David Cameron : As I’ve mentioned multiple times in a few of my answers, we are not just planning to, but we have actually already started burning X tokens as it is a deflationary token with a coinburn mechanism. Whenever a user swaps a token on the platform, 0.05% of the transaction fee will be used for the coinburn mechanism.
Bà Tân | : Thanks for the useful information from @Davcameron
Bà Tân | : End of session 2
Bà Tân | : For questions that have not been answered today, you can send them to @GIBX_Swap for answers.
David Cameron : My pleasure!
David Cameron : Thank you all for your time !
Bà Tân | : IM Community, if you would like to know more about GIBXSwap ! here are some useful links for you:
Official Website: https://gibxswap.io
Bà Tân | : Allright, I declare the Im Community AMA with GIBXSwap has ended.
Thanks to @Davcameron | GIBXSwap joined us and provided us with GIBXSwap information, we hope that this knowledge makes us understand more about https://gibxswap.io (https://gibxswap.io/)
To the members, thank you for following this event to the end. winners will be announced soon.
Bà Tân | : For questions that have not been answered today, you can send them to @GIBX_Swap for answers.