DxSales AMA Transcript

BSC.NEWS hosts DxSales , a platform where we are building a true decentralized, blockchain agnostic user experience of the token journey. All questions answered by @DxSale_Hash (Hash | dxsale.app)

By
CryptoShrimp
on
March 13, 2021
Category:
AMA

CryptoShrimp (AMA Host): Today we have the DxSales team in the house for AMA, It's my honour to be hosting the event for them. How are you doing today sir?

Hash | dxsale.app: The honor is all mine. Overall, I'm doing great, lots of innovations in the space that I'm learning about. Lots of room to grow and become better at DxSale

CryptoShrimp (AMA Host): Thats awesome!


Q1 Do give us an introduction of yourself and your team members and what are your past experiences?

Hash | dxsale.app: Sure, DxSale.Network started on ETH Network on Aug 2020 - we are 5 team members. 4 Engineers, 1 PM. DxSale Mandate is to build a decentralized Capital Market for the cryptocurrency space. Currently what that looks like is working on a token management platform with a launchpad and locker that is cross chain with no barrier to entry to be an investor or entrepreneur. Our past experiences are working in top S&P 500 companies in North America. We have around 10 years each.

CryptoShrimp (AMA Host): nice cross chain is always good to bring in more opportunities

Hash | dxsale.app: the future platforms that provide any services should be blockchain agnostic. The future will have more than one for sure


Q2 I'm curious about how experienced are your dev/engineers as well, what are the past experiences?


Hash | dxsale.app: They are 4 who have worked on the Hardware and Software side of things. Within Software around Linux, Windows & MacOS and low end work such as efficiency improvements

Q3 Do tell us more about DxSales, what is it about? is it on ETH network or BSC network? how does it operate?


Hash | dxsale.app: DxSale is on ETH, BSC & Matic currently. It's a single application where the backend morphs based on which network the wallet is connected to.  We went with this approach instead of having separate portals for each chain. I personally think it's more powerful this way, we just need to find a better experience in changing networks and/or some team creates a mobile wallet that is multi-chain wallet that provides web integrations would be cool Dxsale.app is the website that you can use to try out our features


Q4 If I were to create a token for a farm now, can I approach DxSales to support it in anyway?


Hash | dxsale.app: DxFarm isn't live yet, just the staking, launchpad and locker - I'm working on an updated roadmap to account for DxSwap and DxFarm and NFTs

CryptoShrimp (AMA Host): that's great! just to check does that mean you have collaboration with other projects now since staking, launchpad and locker are live now?

Hash | dxsale.app: We are a decentralized platform and don't vett anyone to come on to the platform. Our approach is to provide an open tool and then build custom features around it that can help everyone make better decisions. The Staking isn't a service whereas Locker and Launcher are services. Our Staking platform is for our SALE holders, who will be rewarded airdrops on the success of the platform on any chain.  We are working on automating this feature in the upcoming 2 weeks.


Q5 That clears the confusion that the audience might have, I read about DxLock as well and how does that come into play?


Hash | dxsale.app: DxLock is our locking service for token and LP locking. You can use it as you need across multiple chains live today


Q6 What are the fees like when we are using the platform for the various services ? DxLock, DxSwap etc


Hash | dxsale.app: Current cost in Launch & Locker. We will be pushing out an update that makes sense for our rewarding system to DxStake. These costs are adjustable and we will be creating an analytical dashboard as well to showcase that.

BSC - Cost is 0.1 BNB upfront + 2% of BNB raised 

ETH -  Cost is 0.1 ETH  

Matic - Cost is 200 Matic

All Lockers are 0.01 - no % fees - This is to drive adoption of the tool

CryptoShrimp (AMA Host): Nice and reasonable fee for launching a token, at theDefi Launch page i notice it mentions ERC 20 tokens does dxSales support BEP20 tokens?

Hash | dxsale.app: yes we support BEP20 and equivalent on Polygon Network


Q7 Great! so If a user were to create a token and wanna use the DxLaunch how should they go about doing it?

Hash | dxsale.app: We are creating youtube videos to guide folks who are new and want to learn to use the platform. Currently we have a documented version on docs.dxsale.network that you can use to follow how to create one. You have two options if you want to launch a utility, audited token or transfer your custom token on our DAO Form, which only requires understanding of tokenomics. No Coding is required to start an IDO on our platform

CryptoShrimp (AMA Host): that's great news for ppl like me who has no idea how to code and wants to launch a token one day

Hash | dxsale.app: yep just create a website and project and leave the token creation and sale to us for a utility token. If you are a developer and are working on your own token, you can transfer tokens on the contract to get the presale handled, saving you time and effort on the administrative side of the crowdsale.


Q8 What are the safety aspects in this case? Will there be a risk of exploit? say during the transfer of tokens it gets drained or the way it's done will be totally safe?

 

Hash | dxsale.app: Risk Exploits based on Launchpad.

Standard.

- No Risk of Rugs as we are using an ERC-20 known verified Utility contract - A percentage is automatically locked and listed to Uniswap, PancakeSwap and QuickSwap.

DeFi Launch

- Risks are that the contract is a custom one by the developer that is being used to do the presale which will require others to audit the smart contract and make a smart investment decision.

Overall Risk

- There will always be an ongoing risk when working on true decentralized products. Today, we found out users abusing the minimum contribution so that a presale will be only filled 499.999799 / 500 - And smart contracts aren't flexible and are accurate tools. Of course, we were able to refund all users automatically after the completion of the SALE but it's an exploit that we don't want and aim to fix it.

Risk Mitigations

- Build decentralized tools that will allow others to make smarter investment decision on the launchpad

- Improve these tiny exploits that leaves a bad user experience

CryptoShrimp (AMA Host): that's well thot of for the risk exploits wise.


Q9 Brings me to ask what's the use case of $SALES token?


Hash | dxsale.app: Staking and being rewarded airdrop for every IDO done on the platform regardless of chain

CryptoShrimp (AMA Host): means the holders will be involved in a way whenever there's a IDO done on the platform and not limited to just BSC!

Hash | dxsale.app: You don't need to be a holder of SALE to be involved in any IDO. We designed the platform to be as open as possible. There is no system here where you must hold x amount of tokens to get certain allocations currently the only use case is staking on dxStake that will provide APY based on the activity of the platform


Q10 What have been achieved so far by DxSales? and what is the ongoing development?


Hash | dxsale.app: Milestones so far:

DxStake - Sept

ETH Locker - Late Dec

ETH Launcher - Early Jan

BSC Locker - Jan

BSC Launchpad - Feb

Matic Locker - Feb

Matic Launchpad - March

Due to the market conditions, we were able to get multiple folks trying out the platform and SALEs. My metric isn't successful sales but overall attempts as not every project is worth investing. 

What we are working on now based on priority:

Youtube videos to help others understand the platform better.

Mobile Connectivity with other wallets 

We want to provide SALE liquidity to BSC and Matic so we are working on a BSC bridge. and will be doing an IDO raise/campaign for that

We have ZIL locker integration

Working with QuickSwap and Matic on how we can further empower their community to use the tool and bring value to their ecosystem. 

I feel i'm forgetting stuff but this comes to my mind

CryptoShrimp (AMA Host): thats a lot of achievements i must say and if I were to launch a token one day will definitely get your help on it

Hash | dxsale.app: yes def!


Q11 do share the links of DxSales Social media/medium etc for us to read more and find out more about the project

I would recommend starting with this article if you wish to know a bit about DxSale. Everything else, I consider outdatted. We are working on remodeling the looks and content of our sites.

What is DxSale.Network

https://hash-dxsale.medium.com/what-is-dxsale-network-81da32bcddc6

Docs to use app

docs.dxsale.network

Website & app

dxsale.network

dxsale.app

Telegarm

@dxsale

Twitter

twitter.com/dxsale


Q12 The famous last question, do you have any alpha or juicy news for us today at BSC News?


Hash | dxsale.app: 👀

CryptoShrimp (AMA Host): hahaa its never enuf but we can understand that there a limit to revealing development..

Hash | dxsale.app: The future is bright, lots of innovative ideas floating that we want to tackle once we get some foundational infrastructure in place that's all i can say at the moment haha

CryptoShrimp (AMA Host): hahaa great no worries. That will be all the questions from me, thank you very much for your time attending this AMA, hope you enjoyed it as much as i did.

Hash | dxsale.app: Thanks for having me, it's been a great treat


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