AMA Recap: CRYPTO MINERS X POSITION EXCHANGE
Position Exchange Protocol or (PEP) is the new Decentralized trading protocol powered by a virtual Automated Market Maker (vAMM), operating on Binance Smart
Chain (BSC), bringing on-chain derivatives to the DeFi Ecosystem.
The prices of the derivatives are set automatically by the AMMs which are backed by
multiple collateralized tokens, including POSI tokens (Position Exchange’s native
BEP-20 token) and other stable coins.
We hosted an AMA session with Position Exchange on 12th November at 3:00 PM UTC.
Mr. Ramsy was the host from Crypto Miners and Mr. James and Mr. MJ was guests. They shared delightful knowledge and unique features of Position Exchange.
Segment 1️⃣: Introduction
Hello everyone 👋 and welcome to the Crypto Miners AMA session with Position Exchange
Thank you all for joining us today!❣
To help us learn more about the featured project of this AMA session, we are lucky to be joined By Mr. MJ and Mr. James, Welcome to our community 🤝
Hello everyone, glad to be here with you guys 🙏🏼
Hello everyone, nice to be with you today for this existing AMA
Happy to see you guys here ,
Thanks for bringing Us Position Exchange❣
I'm pretty sure that our AMA participants are very much excited to learn more about Position Exchange, so let's get started if you guys are ready!
Yes, like always, we remind our members, don’t miss this one 😉
The next big crypto is starting to surface today
Q1) Can you give a overview about 'Position Exchange' .What popped up in your mind to create such a platform in this space?
Position Exchange is a new Decentralized Derivatives Trading Protocol operating fully on BSC.
The Team has created the project with a clear vision and is aiming to build the most decentralized and 100% community driven protocol where every single holder can decide of the future development of the project through our participative and fully on-chain governance platform.
Now let's see our second one..
Q2) So what are your main features and advantages that discern you from other Exchanges?
The core feature of Position Exchange is the Derivatives Trading Protocol, which will offer on-chain perpetual futures Trading on Binance Smart Chain and the V1 Testnet version will be available in few hours by the way :)
Along with it, we offer Swap, Farming, Staking and an NFT feature where you can cast and stake NFT cards to generate rewards, a referral program... and many other features coming on the way that you can check in our roadmap: https://docs.position.exchange/roadmap/position-exchange-and-development-plan
Position Exchange is trying to create its own Ecosystem allowing users of all interests to use the platform and be a part of the POSI community.
Q3) How has the experience and background of your team been effective in the success of your project so far?
Position Exchange is a decentralized platform designed for the community. 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.
Located around the globe, we are trying to establish a user-friendly decentralization where transparency and cooperation are essential to thrive and achieve the main vision and mission together as a community.
The team has decided to stay anonymous for the first steps of the project. This choice came out of a deep reflection about the nature of Position Exchange and on how to build the trust around the potential of the project rather than individuals. We believe that every single individual participating in this project deserves to be cheered for his great efforts, dedication and his participation either ways, close or far.
Q4)Now Share us about your token, What are the some of utlities of $POSI Token in Your Ecosystem? And if possible share to us the Tokenomics of $POSI
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 you’re 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 Single & NFT pools.
You can find more details about our Tokenomics on the following link: https://docs.position.exchange/posi/posi-tokenomics
Now let's hear our last question from this segment..
Q5) Could you share a bit about security and also what benefits you provide to incentives user's choosing your Platform?
We understand that security is the main priority and most important concern in the DeFi industry. We will never put user’s funds at risk. We have 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 and that's what makes us different from the current existing protocol in the DeFi.
Thanks for that well detailed introduction about Position Exchange🤝
That wraps up the first part of the AMA session✅
Now Moving on to our next and last segment - Live Q&A,
I hope you're ready for that!
SURE, LET'S GO
Here we go
Segment 2️⃣: Live QnA
(In this segment group was opened for 60 seconds and miners sent hundreds of questions. Guests choose some best to answer)
1)WHERE CAN I BUY YOUR TOKENS RIGHT NOW...? HOW CAN I BUY THEM...?🤔🤔 CAN YOU SHARE CONTACT ADDRESS🧐
-- WHERE I CAN FOLLOW ALL YOUR UPDATES AND DEVELOPMENT’S?😃
Easily on our website or pancakeswap, always ask the contract from Admins on our group or use /contract in the PositionExchange group
2)Revenue is an important aspect for all projects to survive and sustain. So how does your project plan to generate profit and revenue?
You’re right and most of the existing platform take their revenues from the transactions and trading fees. Position Exchange is investing all the collected fees back in the project through different mechanisms. The revenue of POSI team will come from the 10% allocation from the Max Suplly and which will be minted over time with the generated rewards in pools and farms. We have locked the Team wallet for 2 years and we are putting all our effort in the potential of the POSI.
3) STAKING is one of the STRATEGIES to ATTRACT USERS and HOLD Them and long term. Does your GREAT PROJECT have plan about to Staking?
Position Exchange have on of the highest yield and APRs in the DeFi space. Check that as an example 😉
4) A project needs to deal with solving a real world issue or problem What is the problem that your project primarily focuses on? Please share with us!!
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 you’re a stakeholder and will be able to receive a share from the revenue.
5) Is this your project only for elite investors, how about others with small funds, is it open to everyone?
This project is a community driven project so all ranges of investors are welcome onboard as unity makes power.
*This segment ends here*
Thank you all for being with us here today and Special Thanks to the Crypto Miners Team for this great AMA.
Thankyou so much guys For your valuable answers and information about Position Exchange,
It Was Pleasure Hosting An Ama With You guys.
Is there anything else you would like to share or you want us to know ?
You can find the links to all our Social Media Platforms here :)
Sincere Thanks and see you in an other occasion! 🙏
We Wish all the very best for Project Position Exchange and the entire team behind Position Exchange🤝
Thank you so much for having us 🤗
Once Again Thank you so much for spending time with our community.
Community, if you would like to learn more about Position Exchange, here are some useful links for you:
Twitter : https://twitter.com/PositionEx
Medium: Position Exchange