Thank you to the Infinity Chain for participating in Ask Me Anything (AMA) with XODEX 4 July, 2022. This guest star,
- Hanz — Xodex Team
- Nikolai — Xodex Team
Xodex is a disruptive innovation and a fully anonymous zero-fee blockchain and multi-level ecosystem which will include a decentralised exchange, a launchpad and also a centralised exchange along with iOS and Android wallet apps, we also plan to launch a NFT marketplace too.
We are focused on balance, innovation and equity building for everyone, with Xodex you can enjoy our high-speed zero-fee blockchain with DeFi protocols, NFT adaptability, and dApp features that aid creators in funding & cross-chain development on the Xodex Platform.
What challenges in the crypto space would Xodex aims to solve and solution will given?
Xodex is here to solve some of the problems that exist in the current blockchain-based projects such as high gas fees and network congestion.
We will do this via two methods, the first is our blockchain will require zero gas for sending transactions including, — approving tokens, calling smart contract functions, and deploying smart contracts, users will be able to send tokens instantly to anywhere with a zero gas fee.
The second is we aim to reduce network congestion with our high transaction output, with speeds of up to 100k TPS our network will be among the fastest in the blockchain space, eliminating any lag or congestion which at times leads to high fees on other networks.
As we have solved two major problems many projects will notice this and be able to launch on our network and take advantage of our zero gas transactions, this will create an ecosystem where Xodex will be the number one paired coin with all projects that launch on our chain, thus increasing the Xodex coin use case.
We are also aware that sometimes new users are not aware they need gas for simple transactions such as staking/ un-staking, participating in pre-sales and for project owners, calling and deploying their smart contracts, right now on all other networks this costs gas, but with Xodex you will be able to do all of this without any gas fees at all.
Let’s talk about the Xodex ecosystem, what are Xodex core products/features?
The ecosystem will be made up of multiple projects, First we aim to launch our zero fee blockchain, after this we will implement a bridge between the BSC network and the Xodex network so users can transfer their BSC Xodex to the Xodex main net, allowing them to create or participate in new projects that launch on our network.
To do this we will also launch a launchpad so that new projects can launch on our network and users have a place where they can take advantage and participate in new pre-sales.
We will also create a DEX ( Decentralised Exchange), Projects and users will need a place where they can buy / sell / swap their Xodex tokens for other project tokens, allowing the trade of these assets and also see the growth via charts.
Can you tell us about the Xodex token, what are the usecases on platform? What blockchains will Xodex support?
Yeah exactly and yeah sure.
The Xodex token launched on the BSC network in March 2022, we chose the BSC network as it was already established and this allowed for extra exposure and to build awareness of our project, we had a very successful launch, our starting market cap at launch was 350k and today we sit at just over 7M with our ATH being around 10–11M market cap, we anticipate we have much further to grow, but we don’t like to talk about price predictions as we like to focus on the development of the project and with that being said the use cases for the Xodex token are as follows:
On our main network, Xodex will be the native coin, this means all projects who launch on our network will pair with Xodex in their liquidity pools, this will increase the use of xodex along with the price and also the market cap.
Xodex will be the native currency on our network so users will also use Xodex to participate in pre-sales and buy into other projects, it will be the main coin that users swap in and out of creating a lot of trading volume.
We will also be offering cross-chain support to all major networks such as ETH, BSC etc, so you will be able to swap your tokens into multiple tokens on other networks with our bridge and wrapped token versions, this is all to come in our road map.
Can you share Codex roadmap? Any exciting news or updates with regards to Xodex that you would like to share with us here?
Yes sure, so the road map is currently moving into Q3, ill send a copy of our road map now with some more information.
-Team development. ✅
-Pancake swap launch. ✅
-Telegram group 1000 members. ✅
-Staking up to 100% APR. ✅
-Coinmarket cap listing. ✅
-Coin gecko listing. ✅
-Blockchain launch — Test net ( Releasing in the first weeks of July, currently- in final testing stages).
-Blockchain launch — Main net.
-Cross-chain exploration and bridging.
-CEX listings for XODEX.
-Partnerships with DEX for token swaps.
-DeFi protocols, NFT projects, dApps integration.
-iOS & Android wallet app.
-Exchange beta launch.
This is our current road map
We have completed staking rewards for users, this one one of the first things we did, as we wanted users to be rewarded whilst they wait for us to develop the project, we are very much focused on building a community, 3% of the buy and sell taxes are used for staking rewards, we pay up to 100% APR but the average has been 15–20% based on current volume since launch, as volume increase so will the APR.
The main thing we are here to talk about is the test net version of our blockchain is about to launch within the next two weeks, we are in the stages of final testing and running security protocol checks before this goes live but we are very excited to bring this to you soon!
We will also be launching the launchpad stage of the project over the next 4 weeks, In our main telegram (https://t.me/XODEXofficalgroup) chat you can get updates and more information on this as It comes.
Along with the launch of the blockchain test net, we will also be seeking a listing on a centralised exchange, we can not confirm the name just yet but it will be a high-quality mid-tier exchange.
We can also share with you the preview of our block explorer! 🔥🔥
Overall we have a fascinating few months ahead, and a lot to share with you!
We all know the market is bad. Most projects have either delayed listing or failed. That’s why the investor started not to look at blockchain. Will the XODEX team be successful despite the bad market conditions? How do you plan to protect the investor from these conditions?
Whilst the market always has a certain aspect of uncertainty to it, we can never predict how the overall market sentiment will be, but what we can control is the development of the Xodex project, as we are not a meme project relying on hype, we are not totally dependant on the market as we have utility, and as long as we continue to develop our project and release our products when the market sentiment changes we will see this reflected in the growth of the Xodex project.
We can still utilise this market as a time to build our branding, and project awareness, along with strengthening our community, then when the bull does return, those ready to find a long-term project with utility will find us and those who have been with us all along will experience the growth a blockchain project will receive.
Along with the Zero fees and NFT marketplace, XODEX is also a startup Launchpad. As a launchpad, What are the top features that encourage an entrepreneur to deploy their project through XODEX? Do you have lending protocols for small initiator?Please convey us more about launchpad
The launch pad will have two types of interface, one will be a tier-based system, users will receive an allocation for each project’s pre-resale tokens based on the number of tokens they hold, this allows exclusivity and rewards for users who are holding the launchpad tokens, projects will also receive support in marketing, branding, contract creation and funding using this method as it will have the Xodex seal of approval assigned, further increasing the trust between users and the projects.
The second interface will be a fair launch type platform, any project can publicly launch here for a fee, the fee is used to generate revenue for the Xodex ecosystem and also the staking rewards for users, projects will have the option to KYC to receive a KYC badge but as we are supporting anonymity projects can also launch without this, and users can use their own digression if they want to invest or not, all projects will pair with the XODEX coin for their liquidity and will also have the option to lock their liquidity with the launchpad for user trust.
I read that there will be a 12% buy and sell tax on XODEX that will be used to bet bounties and support product development. How will they prevent this fee from limiting adoption of their platform? If XODEX is a zero-fee project, why has this 12% fee been included?
The blockchain is a zero gas blockchain, the 12% buy and sell fee is on the BSC network and is used to develop the project, pay users staking rewards, and add liquidity to the LP pool.
The Xodex network when live will not include this fee, transactions will have no gas on the XODEX main network, other projects that launch are able to add fees depending on their contracts but the gas will always remain zero.
Regarding the NFT marketplace feature, can you tell us in more detail about your NFT Marketplace? What will be provided there? Will your marketplace support NFT asset exchange?
We plan to launch a NFT marketplace, users will be able to create, list and exchange NFTs without a gas fee, which will be the main selling point, and yes it will support NFT asset exchange, users can buy and sell and bid on multiple NFTs.
Xodex will also be launching a NFT collection to celebrate the launch!
What companies are you partnered with or seeking to partner with in XODEX future?
We will be seeking to partner with many projects, in the early stages before the XODEX launchpad is live, we will partner with an already established launchpad in order for users to be able to use our network as soon as possible, we will also seek partnerships with companies to aid developers to create their Dapps, NFT’s and meta verse projects.
XODEX is a zero fee high-speed blockchain ecosystem. Since your ecosystem is free, where does XODEX generate revenue from? What kind of revenue does XODEX generate to keep the project going?
Our blockchain is zero gas and the tax will not be implemented on the Xodex mainnet but we will still generate our revenue to fund staking rewards and project development from the trading fees on our DEX/CEX and also our fees from the launchpad, we will also have a start-up initiative which can create a revenue stream through investments and also user traffic, the tax on the BSC network will slowly be decreased as the project grows.
Why were the charitable donations that were initially reflected in the Xodex token economy eliminated?
The community wanted to increase the liquidity pool for xodex and we held a poll for a solution. Again the community voted to temporarily change the charity donations to buyback & burn protocol to increase the liquidity. Strengthening the token price.
Please tell me,How can I buy your tokens right now?Andwhich wallet support your token?thanks
You can purchase our token on pancake swap, please be sure to use the correct contract address which is — 0xddD9d7D280c78b564C55BEb26562E367d4b9Bd8a
You can purchase here BUY HERE (https://pancakeswap.finance/swap?outputCurrency=0xddD9d7D280c78b564C55BEb26562E367d4b9Bd8a)
Xodex can achieve a TPS of up to 100k, with POA consensus. How powerful is this consensus to achieve high scalability? If Even the ETH network, it has not been able to solve the scalability problem? Why do you think the POA consensus can solve the scalability problem?
The POA consensus is what allows us to offer zero gas fees. We all know the proof of work consensus is slow and inefficient. Proof of stake solves common problems but doesn’t accommodate for zero gas.
STAKING program is very important for every project? Can i stake your Token? Do you have any plan of starting Staking programme? plz tell us sir?
Yes, we have a staking program paying up to 100% APR, We launched this early in Q2 so holders could earn rewards whilst they wait for the development to progress, we currently average 15–20% APR which is much better than any bank you will find, it fluctuates based on volume and has a minimum 30 day period in order to claim your rewards, the rewards are paid in BUSD, users can also choose to unstake at any time but if their 30-day initial period is not completed then their BUSD rewards will be forfeited and used to buy and burn xodex tokens further strengthening the project, we also do buy backs and burns periodically too.
Thank you for trusting Infinity Chain as the organizer of the event today, hopefully everyone can understand about XODEX.
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