Here’s our 90th AMA recap!

Thank you to the Infinity Chain for participating in Ask Me Anything (AMA) with LEXIT June 21, 2021. This guest star,

  • Amir Kaltak — CEO, Founder
  • Katia Zaitsev — CBO, Co-Founder

INTRODUCTION

Katia / CBO @ LEXIT :
I am Katia Zaitsev, Co-Founder & Chief Business Officer of LEXIT — pleasure…
TW: @katiazaitsev_

Amir / CEO @LEXIT :
Alright, I’m Amir. Founder and CEO of www.LEXIT.com and I’m looking forward to tell you guys a bit more about our killing cool NFT Launchpad with DEFI Liquidity Pools. Follow my Twitter too @amirsword

Could you please provide us with a simple description of LEXIT?

Katia / CBO @ LEXIT :
Of course…..

LEXIT is an NFT Launchpad with integrated DeFi Liquidity Pools. Our UNIQUE Platform www.LEXIT.com makes LAUNCHED NFTs immediately available for trading on our instant liquidity provided DeFi pools. We are first to market.

To ensure MAXIMUM performance, reliability and mainstream adoption of the platform, LEXIT is ALSO developing its own blockchain LEXNET with a Hash Rate of 32,000 TPS by Q1 of 2022 that will outperform all current blockchain speeds & gas fees.

How does LEXIT work? What is the strategy that LEXIT implements to improve the quality of the NFT and DeFi world in order to be ahead of the competition?

Katia / CBO @ LEXIT :

1.Newly minted NFTs will be promoted as an initial NFT offering through LEXIT’s NFT Launchpad. The NFTs will then be available for direct purchase or added by LEXIT pool Managers to various DeFi pools on the platform.

2.Anyone owning intellectual property rights (IPR) to their artwork, music, film/videos, inventions, etc. may submit a listing for approval on the platform free of charge. If approved, the IPR enters the NFT Launchpad as an NFT client.

3.The NFT offering will be available on the NFT client’s scheduled launch day to pre-subscribed LEXIT platform users who must perform social media tasks on behalf of the NFT client to increase the popularity of the offering.

4.The NFT then becomes available for direct purchase on the NFT Launchpad to then be available on the LEXIt DeFi Liquidity Pools, which are curated portfolios of various NFTs available on LEXIT. Pools are managed by pool managers and are open to everyone to join.

5.LEXIT pools allow users to participate in potential high yield token pools. Anyone can become a pool manager and create a LEXIT DeFi Pool. Pool managers define the total liquidity and choose a variety of NFTs from the LEXIT marketplace. The pool manager must stake 5% of the pool liquidity to add “skin in the game.” Liquidity can be provided with popular tokens such as BTC, ETH, BNB and the LEXi coin among others trading pairs.

Katia / CBO @ LEXIT :
The strategy that LEXIT plans is simple — we are first to market in combining NFT launchpad to DeFi. Think the hottest NFT launchpad had a baby with PancakeSwap — that is LEXIT. We are first to market.

Amir / CEO @LEXIT :
If you wanna stay informed about great opportunities at www.LEXIT.com join our Telegram NOW https://t.me/LEXITco

Katia / CBO @ LEXIT :
https://twitter.com/lexitco

What is LEXNET? how can LEXNET make it compatible with the LEXIT ecosystem?

Amir / CEO @LEXIT :
Love questions about the LEXNET

It’s gonna not just power LEXIT.com but also many many projects around the world

Let me write a few details about it

The LEXNET is a very high performance open protocol that is fully compatible with the Ethereum and all other EVM aligned protocols such as the Binance Smart Chain.
The protocols ́ architecture is a very unique and novel approach and by our estimations and initial projections, it will exceed the Hash-Rate of 32000 TPS (Transactions per second). This will even be possible at a high number of nodes underpinning the Protocol. The LEXNET will have a very high hash performance from the beginning but still will be further scalable with even higher demands.

The LEXNET is the foundation of the LEXIT DApp. This will utilize the power of the protocol to its fullest to make LEXIT a reliable, safe and highly performant NFT & DeFi platform.

How do you assure us of the benefits, safety and transparency of LEXIT? Can you tell us about LEXIT tokenomics?

Amir / CEO @LEXIT :
Ok
Important question
Every presale backer and project is on lock up and long vesting from 9 months to 3 years, we even locked up the LP Tokens on PancakeSwap.Finance for a year to make sure that new backers are safe to buy LEXI COIN.
It’s very safe to join our LEXI COIN family
There are only 16M coins and its limited forever

Okay noted, so we can bought Lexi on Pancakeswap now?

Katia / CBO @ LEXIT :
yes and on bitmart.com

https://www.bitmart.com/trade/en?layout=basic&symbol=LEXI_USDT

About the Roadmap, what are the major milestones LEXIT achieved so far? what can we expect from LEXIT in the near future?

Katia / CBO @ LEXIT :
We have launched & sold out in 45 seconds & 5 time-over subscribed on Binance Smart Chain Protocol, BSCPad. We are listed on PancakeSwap.finance & Bitmart.com.

We have signed partnerships with Toazted, LvH Corporate Finance and many more for all our NFT launchpad partnerships for any Intellectual property partners. ITS SUPER EXCITING.

LEXIT plans to launch its NFT/DeFi platform end of SUMMER 2021 and have it Operational by the beginning of Q4 the latest. During this time, we will open the LEXNET TestNet. We expect LEXNET MainNet to be live in Q1 2022 and soon after have it open source for everyone to use.

Amir / CEO @LEXIT :
It was an amazing day our IDO at BSCPAD.com ♥️

www.LEXIT.com

Katia / CBO @ LEXIT :
LEXIT is just getting started and rolling an intensive programme of announcements, partnerships, developments and more, including increasing brand awareness, and closing interesting partners moving forwards (such as our partnership with Toazted).

Amir / CEO @LEXIT :

The www.LEXIT.com Founders

Katia / CBO @ LEXIT :
To expand on our Toazted partnership, Toazted Media BV and LEXIT AG have signed a partnership agreement, where LEXIT will explore tokenizing the footage and interview assets of Toazted within their archive. Paul van fed Vlist, CEO of Toazted, said: “NFTs will have a big influence in the future of the music industry; as Toazted it’s crucial to gain knowledge in this field. LEXIT has been a reliable partner over the years, so it’s only logical to come together on this exciting new development.”

Toazted is an interview archive, hosting thousands of audio and video interviews with the music starts people most launch. Part of the Toazted portfolio can be seen on youtube, VEVO, Apple TV, and many other platforms. Their interviews have been used in many music documentaries such as the Oscar winning Amy Winehouse movie, the Coldplay movie, the Oasis movie, and more. We are very happy to have partners that believe in our product.

QUESTIONS TWITTER

Literally,how can we turn our Art, Music, Film, Books and ALL kinds of Inventions like,source Code or even Patents into NFTs and have them available RIGHT AWAY to anyone?Can you tell us its process?It is costy,but why you are not charging the creators?

Katia / CBO @ LEXIT :
Sure — we already spoke about the process but I will give another explanation…

The journey begins with an Artist or Inventor creating an NFT via our LEXIT platform; and it continues with their NFT being offered on our NFT launchpad to everyone who wishes to participate. While simultaneously supporting the Artist or Inventor, our users are obtaining NFTs that could be of great benefit to themselves. We take a different approach from other NFT platforms who approach minting NFTs as a ‘mint and done’ process, without the support or community. Our launchpad flips this on its head, giving artists and inventors an ideal, public, promoted platform to get their work seen by as wide an audience as possible. We also benefit from a deeply hands-on team that is passionate about the DeFi and NFT space as a whole, and deeply motivated to make the entire sector thrive as a whole, spearheaded by the progressive and innovative lead of LEXIT.

Artists are heavily incentivized to mint their NFTs through LEXIT for a wide span of reasons; from our world-class hands-on team and developers who truly understand what consumers want and need from an NFT launchpad, to innovative products and services which don’t just ‘flow’ with the NFT trend, they actively work to revolutionize and develop the NFT sector in its entirety. LEXIT’s approach to intellectual property control via NFTs is exactly that, an innovative use case that pushes the boundaries of NFT technology and its real-world impact for millions of creatives around the world. On-chain verifiable intellectual property, in the form of NFTs, will revolutionize multiple previously unconnected sectors and funnel intense attention to LEXIT. The launchpad will provide continual exposure and support to artists, combined with our active and thriving Telegram and social media communities, providing our creators one of the healthiest, most incentivized platforms to mint on in DeFi.

our goal is to provide opportunity for all the creators out there. We dont charge a fee on purpose as we want to give all the creators a shot.

https://cointelegraph.com/news/nfts-and-defi-are-coming-together-on-a-launchpad-tokenizing-creative-work

The current testnet transaction throughput of 300 TPS. You plan to improve this speed to 32,000 transactions per second. What developments do you want to achieve this and in how long?

Amir / CEO @LEXIT :
Alright
Not sure what you mean with the 300 TPS, probably some other protocol. We are currently having our protocol the LEXNET post prototype and initial tests predict that we can open our test net end of the year at a hashrate of 32,000 TPS which is amazing if you consider that it will be fully Ethereum and Binance Chain compatible.
And
The way our Consensus (Node Network) works is very unique and is forcing Node partners to run high performant systems to be able to earn off the fees which will be very very low but still be very incentive for the Node partners because there are just many more transaction within the LEXNET.

The total supply of LEXi Coin is limited to 16,000, 000 LEXi. Surprisingly, 25% of the total supply is been reserved for different aspect of the project. Kindly breakdown the section of the project in which the reserved token is been allocated to?

Amir / CEO @LEXIT :
Ok I’ ll take this one
This all is explained in detail on our whitepaper at www.LEXIT.com but to the asked 25%, these are for legacy backers and are still under lock up and will start vesting over 3 years !!! In about 2 months from now.
And
We made sure that any backer is under initial lock up and a vesting schedule. We are currently at a very low market cap with an incredible opportunity to bag some $LEXi Coin because we are just about to open the platform for utility and will have 3 major LEXIT.com product launches this year.

Can you tell about your listing plans?Specially the ones involving major exchanges, CEX and DEX. What types Partnerships you are looking for and what values would they bring??

Katia / CBO @ LEXIT :
CURRENTLY, on Pancapswap.finance & Bitmart.com ( https://www.bitmart.com/trade/en?layout=basic&symbol=LEXI_USDT )

We plan to join another top 10 exchange this summer. And more to come.

Partnerships — as mentioned earlier, we are looking for any type of strategic partnerships regarding the NFT space. Any type of company that owns copyrights to intellectual property that is looking for a new revenue stream — come to LEXIT as we will make it worthwhile for your organization!

Smart contracts are vulnerable to bugs, and even recently three big new DeFi projects were victims of this, costing users funds. How efficient and secured is your smart contract, and did you ever audit it via any external party?

Amir / CEO @LEXIT :
Uh I like it when people understand that
Ok let me say this
This is a very important question, most people aren’t even aware of this. First we have a stellar Cryptography team with a lot of experience in coding safe smart contracts and secondly, before entering any smart contract into the platform
So
These will be audited by renowned independent Smart Contract Auditors, we will also place the Audit and any code publicly for anyone to see. This will make sure that we are running a safe platform.

QUESTIONS TELEGRAM

@MineshaoWhat is the structure of Lexit , is it decentralised or a open sourced protocol where everybody can contribute? If so, how does the governance plan on being handled?

Amir / CEO @LEXIT :
Great question. www.LEXIT.com is truly Decentralised, our user will always control their wallets by themselves but in a very easy to use User Experience on the platform. Also we will open source the LEXNET Protocol after MainNet launch in Q1/22 and enable a open and transparent governance.

@cuongpham1997What is the real goal that LEXIT is pursuing? How does the community help you achieve that goal? Who are you aiming LEXIT ?

Katia / CBO @ LEXIT :
We want our platform to become mainstream adopted and given opportunity for everyone that has a creative dream, to be able to pursue that dream.

Currently, NFT success stories are driven by celebrities, people who are well off and/or established.
Our plan is to change that and open this opportunity to anybody and everybody with true talent. There is so much hidden talent all over the world that normally goes unnoticed, bumped down the priority queue or even have the courage or support to make it to the queue in the first place.
With LEXIT, we want to bring equality to the industry and not have privilege decide whether you are entitled to your own success.
Everyone is equal on our platform. Everyone has a fair shot.

The community helps to achieve that goal by supporting our coin, platform, brand and utilizing it in every capacity.

@YunothinhHow do you plan to spread awareness about your project in different countries where English is not good? Do you plan to develop many different communities such as Vietnam, Indonesia, Korea, … about your project so that they can easily communicate and understand your project?

Katia / CBO @ LEXIT :
of course! we want to be global! And be present in every community. Currently we have a China group and are opening up to all communities when the time comes and right partners of that community is ready to work with us.

@asif20054There are many very successful blockchain projects with the same ideas as Your project, so can you tell us the difference between Your project & those projects?Do you feel confident that Your project will have some outstanding features compared to those projects to attract users?

Amir / CEO @LEXIT :
THAT is not correct. LEXIT.com is very unique because its not just a NFT Launchpad, that would be boring. Imagine if the best NFT Launchpad and UniSwap were united and easy to use, fully decentralised. That is LEXIT The launched NFTs go directly in instantly opened DeFi Liquidity Pools and are right away traded.

@Kopikor2021Almost 80% investors have just focused, on price of token in short term instead, of understanding, the real value of the project. Can you tell us on motivations, and benefits for investors, to hold your token in long term???,”

Katia / CBO @ LEXIT :
join our telegram to learn more! we have LIVE voice AMA’s every thursday to chat about the development of our platform and any updates necessary to ensure confidence of our community, brand, technology and partnerships. we have ALOT in the pipeline and we like to stay transparent with our community and supporters weekly. Cant wait to have you there on thursday! https://t.me/LEXITco

Thank you for trusting Infinity Chain as the organizer of the event today, hopefully everyone can understand about LEXIT.

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