Position.Exchange x Im Community AMA Recap
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đ TELEGRAM AMA: Im Community & Position.Exchange đ
â° AMA Timing : 13 August 2021 l 03:00 PM UTC l 22:00 GMT +7
Venue For AMA : https://t.me/imcommunityitw
đ Reward Pool $100 PSI
Bà Tân | : Welcome @posi_manager, @JamesPosition from Position.Exchange.
Bà Tân | : Welcome everyone. Today Im Community will host AMA with Position.Exchange.
Bà Tân | : Today our guest is: @posi_manager, @JamesPosition from Position.Exchange.
James : Thanks, we are glad to be among you here today for this AMA session
Position Exchange Manager : Glad to be here today.
Bà Tân | : Please introduce yourself a bit: @posi_manager, @JamesPosition.
James : This is James, one of the co-founders of Position Exchange, a new Decentralized Trading protocol operating fully on BSC. We are based in Singapore, The team members and collaborators behind the project are multidisciplinary and have extensive experience in Programming, Smart contract & Blockchain, Finance, Trading and Crypto industries along with a high understanding of economic conditions.
The name Position Exchange was chosen to represent the core feature and goal of the platform, which is to provide and make accessible, Trading to everyone. We want to bridge the gap between people and Trading by enhancing the Trading experience.
Bà Tân | : Thanks for the introduction from the Position.Exchange team.
BĂ Tân | : Todayâs AMA will have 3 sessions
Sessions 1: The chat will be muted & the team will introduce themselves then we will ask some introduction questions to the team Position.Exchange
Sessions 2: We will pick 5 Best Question from our members on Our Tweet (https://twitter.com/IM_Communityitw/status/1425805031652036616).
Sessions 3: The conversation will open to the community questions and the 5 best questions will be selected.
BĂ Tân | : Rules to follow AMA : ⤾ď¸
âŤď¸ Join : Telegram group Position.Exchange English (https://t.me/PositionExchange) , Position.Exchange Announcement (https://t.me/PositionAnn) and IM Community (https://t.me/imcommunityitw) , Channel Im community
(https://t.me/imcommunityit)âŤď¸Follow: Twitter Position Exchange (https://twitter.com/PositionEx) and IM Community (https://twitter.com/IM_Communityitw)
Web & Community:
đhttps://position.exchange/
Bà Tân | : Start session 1 AMA @posi_manager, @JamesPosition
Bà Tân | : Question1. Can you briefly describe what is Position.Exchange?
Position Exchange Manager : Sure.
Position Exchange is the new Decentralized Trading Protocol, operating fully on BSC.
The protocol offers easy and accessible Derivatives Trading in which users can trade Crypto Derivatives Products fully on-chain transparently and trustless, with high security, and privacy. The platform is designed to deliver all the advantages of Decentralized Finance whilst bringing the traditional Centralized Finance experience and tools onboard. To mention High leverage, low slippage, and low costs as well as limit orders all while solving the liquidity issue using the vAMM.
Position Exchange is empowered by the POSI token, its native utility token serving as the backbone of its Ecosystem. Holders can stake, farm, and cast NFTs to grow their POSI balance as well as participate in Position Exchangeâs governance and shape its future.
BĂ Tân | : @posi_manager, @JamesPosition Please say âDoneâ when you have finished the question, thank you.
Position Exchange Manager : Done.
Bà Tân | : Question2. What are the current problems that Position.Exchange is trying to solve?
James : We have noticed recently that many Decentralized Exchanges have been developed, such as Uniswap, PancakeSwap. However, there is still a lack of Decentralized Trading platforms that bring on-chain Derivatives Trading with the same experience and all the advantages of a Centralized Exchange like liquidity, UI-UX, Limit OrderâŚ
With Position Exchange Protocol, users can:
- Trade Derivatives Product fully on-chain trustless, transparently, with high security, and privacy.
- Easy to use: bringing the same user interface as the Centralized Exchanges + Mobile App for trading everywhere.
- Based on Binance Smart Chain initially, then Position Exchange will bring multichain to reduce the transaction fees.
- Using the vAMM to solve the liquidity problems and will bring Limit Order by applying the Uniswap V3 ticks concept.
Please check more details in our article on Bitcoinist: https://bitcoinist.com/introducing-position-exchange-a-new-decentralized-trading-protocol-fully-on-chain
Done
Bà Tân | : Question3. What products are the Position.Exchange team developing? What benefits does it bring to the user?
James : So to give you a global overview, Position Exchange is the new Decentralized Trading platform, powered by (vAMM). The protocol offers easy and accessible on-chain Derivatives trading with high leverage, low slippage and low costs on Crypto assets and much more to come. Empowered by its native utility token, POSI, the platform brings other features such as NFTs, Staking, Farming as well as a Build feature offering easy and fast built on-top API creation.
Position Exchange Manager : done
James : Done
Bà Tân | : Question4.What role does the $POSI token play in your ecosystem?
James : Unlike most of the recent tokens created by other exchanges mainly for crowdfunding purposes and for reducing the trading fees, POSI comes with a different and unique approach. All the fees and revenues from the protocol will be distributed back to all POSI holders by a mechanism called Buy-Back and Burn fully on-chain. This would mean, just by holding POSI youâre a stakeholder and will be able to receive a share from the revenue.
In addition to being a utility token and providing liquidity and trading incentives, POSI token is designed to facilitate and incite the decentralized governance of the protocol. As such, holders of POSI tokens accrue voting rights proportional to their holdings.
Along with the mentioned, holders can get reduction on protocol trading fees, increase their POSI balances through the RFI technology, and stake on Farm or NFT pools.
Done
Bà Tân | : Question5. What is Position.Exchange plans for this year ?
James : Position Exchange has been in development since February 2021. The platform was public a month ago and started to gather a good community around. The features will be developed step by step following a meticulously planned schedule. The Token was released to the public along with the farming feature. Staking and NFTs will be out in August as well as the first version of the Protocol on Testnet.
As the Certik Audit has been completed, many major partnerships and listings are on the way and should be confirmed as soon as the derivatives trading feature is available.The mainnet launch is planned for September. Position exchange will then move to multichain in order to reduce the on-chain gas fees. The mobile App will be released in October. By the end of this year, we are expecting the protocol to be fully operational attracting more than 5.000.000 users and investors.
Done
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/1425805031652036616).
Bà Tân | : Question1. DeFi, Staking and Yield Farming are hot topics right now in our Crypto Space, My question is, did you make this project only for the short term because of these hot topics? Do you have a long term plan for this project?
https://twitter.com/TranKha65831214/status/1425877791090741250
James : Staking and Yield farming are only secondary features in our Project, our main features is On-chain Derivatives Trading.
Position Exchange is a project with a long-term vision, that is what would set us apart from other startups. Guaranteeing the long term reliability of the platform and continuous benefits for POSI holders are our ultimate goals.
Done
Bà Tân | : Question2.What is the plan to ensure sufficient liquidity on exchanges to fill market orders, especially as adoption increases and clients begin multiplying year-over-year for your project ?
https://twitter.com/AlexanderDao3/status/1425878540872929280
James : Position Exchange is not a Decentralized Exchange. It is a Decentralized Trading Protocol. Concerning the Trading, our Protocol uses a vAMM to solve the liquidity issue. The main specificity is that the Liquidity is not stored inside the vAMM itself but in a separated Vault that secures funds, provides data and facilitates the trade for the vAMM.
In conventional AMMs, liquidity is deposited by liquidity providers contributing assets to facilitate trading, the liquidity in a vAMM comes straight from the vault sitting outside of the vAMM. In simpler words, there is no need for liquidity providers to bring liquidity for a vAMM to work: the traders provide liquidity to each order. This vAMM feature is a good prevention tool against impermanent loss.
Done
Bà Tân | : Question3. https://twitter.com/DonKimit/status/1426078175210053632
Whats the Use case of POSI exchange? and what makes it standout above other coins?
James : Like mentioned earlier, Unlike most of the recent tokens created by other exchanges mainly for crowdfunding purposes and for reducing the trading fees, POSI comes with a different and unique approach. All the fees and revenues from the protocol will be distributed back to all POSI holders by a mechanism called Buy-Back and Burn fully on-chain. This would mean, just by holding POSI youâre a stakeholder and will be able to receive a share from the revenue.
Along with that, holders can get reduction on protocol trading fees, increase their POSI balances through the RFI technology, and stake on Farm or NFT pools.
Done
Bà Tân | : Question4.@Dejavu3BTC
(https://twitter.com/Dejavu3BTC)How secure is your platform to use? Have you done audits of smart contract? What security measures are adopted from bugs of smart contract and hacking?
James : We understand that security is the main priority and most important concern in the DeFi industry. We do not want to put userâs funds at risk. We have just conducted an Audit with Certik: https://www.certik.org/projects/positionexchange you guys can go check it.
We will also implement a bug bounty program for the community to participate in Position Exchange security.
Note that: We have successfully transferred the owner contract of Position Token and Treasury to a Governor + Timelock contract. Every request to change the major components of the smart contract will require the approval of the POSI holders. All processes will take about 48 hours to be completed.
The POSI token is officially fully controlled by the Community.
Done
Bà Tân | : Question5.@Nguyenhuybach12
(https://twitter.com/Nguyenhuybach12)I noticed youâve done a lot of AMAs. My question is, what do you hope to gain from doing so many AMAs, and what are your community goals? Do you think the community plays an important part in the project?
James : The community is everything for Position Exchange. This is a project that will be 100% governed by the community as the governance of the project will be transferred to POSI holders. As mentioned earlier the POSI token is now fully controlled by the community and the team members have no access to it without the consent of the holders.
This shows how much the community is important for us and for this project. Not to forget that, every POSI holder is a stakeholder because the Position Exchange Protocol distributes 100% of the revenues to holders.
Adding to that, 80% of the tokens will be reserved for the community! Our slogan says it all:
BY THE COMMUNITY, FOR THE COMMUNITY, TOGETHER WE ARE STRONGER!
Done
Bà Tân | : End of session 2
BĂ Tân | : Weâll move on to session 3
Bà Tân | : Sessions 3: The conversation will open to the community questions and the best questions will be selected.
BĂ Tân | : Rules to follow AMA : ⤾ď¸
âŤď¸ Join : Telegram group Position.Exchange English (https://t.me/PositionExchange) , Position.Exchange Announcement (https://t.me/PositionAnn) and IM Community (https://t.me/imcommunityitw) , Channel Im community
(https://t.me/imcommunityit)âŤď¸Follow: Twitter Position Exchange (https://twitter.com/PositionEx) and IM Community (https://twitter.com/IM_Communityitw)
Web & Community:
đhttps://position.exchange/
Position Exchange Manager : Thank you.
BĂ Tân | : Donât forget to join the group https://t.me/PositionExchange
Bà Tân | : Thanks for the questions from the community.
Bà Tân | : @posi_manager, @JamesPosition Pick the 5 best questions and answer it for session 3.
Q1. Where can i buy token ?
Position Exchange Manager : You can Buy POSI on:
https://app.position.exchange/swap
Farming is also open with a 2600% APR on:
https://app.position.exchange/farming
Q2. What strategy did you have to promote the project to more people??
Position Exchange Manager : We have a heavy marketing plan. We are planning to have large communication strategy to reach people all around the globe. Major listings, partnerships and announcements are coming. We have achieved several milestones (Listing on CG, CMC, press release on major Media platformsâŚ, reached 100k holders) already in a very short time, we have a strong dedicated team which has a lot of ambition and no limits ! Expect great things from Position Exchange. The Trading Protocol is on the way!
Q3. So many scam projects around us. And almost 90% projects with anonymous team do rug pull. At this point why you decided to remain anonymous? How can we trust you?
Position Exchange Manager : A lot of questions coming about security and future:
We have already got audited by Certik. We Implemented a Governor+Timelock contract to control the owner of the token. This is a project that will be 100% governed by the community as the governance of the project will be transferred to POSI holders. As mentioned earlier the POSI token is now fully controlled by the community and the team members have no access to it without the consent of the holders.
We also already locked our LP token for 5 years.
Q4. how do we invest in the project? Do we have locking period or a minimum requirement to be eligible?
Position Exchange Manager : You can invest in this project by buying any amount of POSI. In fact, all POSI holders are stakeholders. The Protocol will distribute 100% of the revenues to POSI holders. You can as well participate in Position Exchangeâs governance. You will also generate passive income and grow your POSI balance indefinitely simply by Holding using RFI technology.
Q5. Current NFT is a hot topic, but are NFT not just for art. Does your project think that more real world use cases will emerge for NFTs as time goes on, why should we take NFTs seriously?
Position Exchange Manager : Question from @chidai1412 about NFT:
Position Exchange NFTs are not art NFTs. Users can cast them using POSI with different rarities, characteristics and minting power and stake them in the NFT pools to generate rewards. The feature is coming on August 15th on our website !
Bà Tân | : Thanks for the useful information from @posi_manager, @JamesPosition
Bà Tân | : End of session 3
Bà Tân | : For questions that have not been answered today, you can send them to @PositionExchange for answers.
đJĹhn Lđ : perfecT AMA
đJĹhn Lđ : Thank for you time @ @posi_manager, @JamesPosition
đJĹhn Lđ : have a good day guys
Bà Tân | : IM Community, if you would like to know more about Position.Exchange ! here are some useful links for you:
Official Website: https://position.exchange
Twitter: https://https://twitter.com/PositionEx
Telegram: https://t.me/PositionExchange
Reddit: https://www.reddit.com/r/PositionExchange/
Github: https://github.com/PositionExchange
Medium: https://positionex.medium.com
Position Exchange Manager : Thank you for attending! See you on our channel !
John Community : awesome AMA
John Community : see you later bro
Bà Tân | : Allright, I declare the Im Community AMA with Position.Exchange has ended.
Thanks to @posi_manager, @JamesPosition | Position.Exchange joined us and provided us with Position.Exchange information, we hope that this knowledge makes us understand more about https://position.exchange/
To the members, thank you for following this event to the end. winners will be announced soon.
BĂ Tân | : Todayâs AMA winners please PM @quocnguyen1234 to provide reward information. Thanks everyone .
