AMA Recap: CRYPTO MINERS X POSITION EXCHANGE

We hosted an AMA session with Position Exchange on 21st November.

▶️ We previously hosted AMA with Position Exchange on 12th November, 2021. Have a look here:
https://link.medium.com/KIXNzqeSelb ◀️

Mr. Ramsy was the host from Crypto Miners and Mr. Paul was the guest. He shared with us the features and functions of Position Exchange.
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Segment 1️⃣: Introduction

Ramsy | Crypto Miners:
Hello everyone 👋 Welcome to Our Another AMA session With Position Exchange

To help us learn more about Position Exchange, We are lucky to be joined by Mr. Paul

Hey Paul 👋

Paul:
Hi everyone, thank you for having me here 😁

It’s my pleasure to have an AMA with Crypto Miners

Ramsy | Crypto Miners:
Welcome here Mate 🤝

Thanks for joining with us today ❤️

First of all Can You Introduce Yourself To us?

Paul:
Sure, I’m Paul Position, a team member of Position Exchange in charge of business development

I also take various marketing activities for the project too

Ramsy | Crypto Miners:
Nice to meet you Paul

Now Let’s begin the project introduction

Paul:
Great, let’s go

Ramsy | Crypto Miners:
Q1) Can you give a overview about ‘Position Exchange’ .What is your Vision Behind the project?

Paul:
Position Exchange is a Decentralized Trading & Exchange protocol designed to provide a transparent, trustless, and fully on-chain trading platform. With the core being an on-chain orderbook matching engine, Position Exchange helps traders to have full control over their orders while reducing transaction costs and remains the same trading experience in a Centralized Exchange.

Our vision is to become the project offering the best experience of futures trading and exchanges on decentralized that feel like centralized

Ramsy | Crypto Miners:
That’s brilliant 👌

So What are the features of Position Exchange that makes it superior and special as compared to other exchanges?

Paul:
We are developing a Fully Decentralized Deveritives Trading Protocol (DPTP) with a central on-chain orderbook that ensures transparency, trustlessness, low cost, and high speed and a new DEX that combines AMM and orderbook to provide the best rate among other DEXs. We’re proud to be the first DEX has an effective on-chain orderbook on EVM Blockchains. You can try our first generation (beta version) at https://position.exchange/trade/USDT/BUSD or DPTP testnet https://testnet.position.exchange/USD-M/BTC/BUSD

We’re also developing the next generation of DEX and DPTP to provide better experience and targeted to go live in Q4 2022. Please follow us for more information.

Ramsy | Crypto Miners:
What are the security measures have you taken to protect user’s funds?

Paul:
If you search Position Exchange on audit sites like Certik then you will se us there with a fairly good score. Besides, we are cooperating with other external partners to conduct audit on things other than technical like finance, site security, etc.

Of course, we don’t solely rely on the audits, we also improve the infrastructure day by day and maintain it with the safest technology possible

Ramsy | Crypto Miners:
Sounds Good

Volume, fees and Liquidity are always Major factors in Exchangs. How does Position Exchange solve these above problems to attract more users?

Paul:
Well, I’ll start with each of these aspects

About the fees, we ensure that we provide the lowest fees and slippage in both swaps and futures trading. We have an advantage by using our own chain, POSI Chain. So there is nothing to worry about the fee while using Position Exchange.

About liquidity, I can only reveal that we are having plans to attract as much liquidity as possible when the time comes. We will try our best with our plans, superbly confident in them 😁

About the volume, we have set targets regarding this in the near future (>$100M/ day) and even higher. We will surely attain this number

Ramsy | Crypto Miners:
Thanks Paul for this honest information about these aspects ❤️

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

Paul:
$POSI token is now the native coin for our blockchain “POSI Chain” which has very low transaction costs, and high TPS. Initially, we use POSI Chain to maintain the central orderbook for Futures Trading (DPTP). Then we will expand our blockchain to become a powerful blockchain that can be used for many different applications such as Ethereum, BSC, …

$POSI coin is now used to pay gas fee, or stakes to ensure the network.

The tokenomics of $POSI are as following: 80% for community, 10% for the team, 5% on sale, 4% for liquidity and 1% for airdrop

Ramsy | Crypto Miners:
Finally What Position Exchange achieved so far and What important updates and developments can we expect in Position in the future?

Paul:
For the updates and developments, please see out roadmap here: https://docs.position.exchange/roadmap/position-exchange-and-development-plan

In short, we’re now in the Improving Phase, developing DEX 2.0 and DPTP 2.0 to the fulles potential

About what we have achieved so far, we have gained many attention from other projects and had loyal holders since day 1. Also we are currently having the best community, one of our greatest achievements so far.

About the operations, we reached an ATH of $7.89 and we are aiming to break that soon

Ramsy | Crypto Miners:
Thanks Paul for this well detailed introduction about Position Exchange 💚

That’s the wrap up of our the first part of the AMA session

Now Let’s proceed to our Twitter Questions section

i hope you’re ready for that!!

Paul:
100% ready

Ramsy | Crypto Miners:
So Let’s Proceed 🚀🚀

Segment 2️⃣: Twitter Questions

1.Position Exchange intends to establish itself as the decentralized community-driven platform of excellence for trading derivatives. What advantages do trading these derivatives offer those of us who are unfamiliar with these mechanism?

Paul:
Easy, we are decentralized but our technology will provide a “centralized” experience for you. Just imagine that you are using Binance but in a decentralized version 😊

So what does that mean? Our platform will be made to be friendly to both newcomers and expeienced traders in terms of UI/ UX, mechanism, buttons, etc.

Also, we are happy to provide you with careful instructions and there’s an event being hosted by us which is called Incentivized Testnet to test the new derivatives trading feature coming up. You can join and learn to trade and even get rewarded.

Here’s the link: https://discord.gg/JGkdkfFe

Ramsy | Crypto Miners:
2.Currently all tokens go down in price even with great partnerships, hype, marketing, and working products, etc. So, what the challenges do you have and the plan to make your project strong popular? Are you see it as an opportunity while the current market decline?

Paul:
For sure, the bear market is not good for any projects but it’s the right time to build and ride the bull

Ramsy | Crypto Miners:
The Right Vision 🔥

Paul:
The main challenge that we have is to maintain the trust of loyal holders and we are trying to do so by providing them with info of upcoming features. Our plan focuses on building since we are really developing great things for the blockchain industry not like some shit coins out there

Additionally, there are various other challenges to overcome but the chance only comes to those who can wait and improve themselves while others don’t

Ramsy | Crypto Miners:
3.I noticed that Position Exchange has introduced a new product called “Bonds”. Can you recommend what Bonds are and how users can profit with it? How profitable and risky are Bonds? Do you have any notes for users before using Bonds in Position Exchange?

Paul:
As you all have known, bonds are financial instrusments used for raising capital, so there will be two cases.

If you are a developer or project wanting to enter Position Exchange’s ecosystem, then bonds are must have to develop if you do not have the required capital

If you are an user, purchasing bonds mean investing on a project or a group of people, thus indicating that you will get a profit after an amount of time

So, like a coin, a bond also has two sides and if you make the right decision, the end will be really rewarding

For sure, there are risks but we have developed several means to minimize them for the users, no worries

Ramsy | Crypto Miners:
4.One of the major problems of dex are late arrival of deposit of coin and token and lodging complaint is always difficult due to slow customer service can you tell us more about positionex transaction speed and how your customer service are?

Paul:
Let me share with you guys the transaction speed of our chain, POSI Chain. It takes 2.01 seconds for the transaction to complete.

Ramsy | Crypto Miners:
That’s cool 👌

Paul:
About the customer service, our CEO, Justin, just emphasized in a meeting an hour ago that customer service is going to be crucial in the near future and we are going to intensely upgrade that

Our customer service is always there for you and handle your requests asap

Ramsy | Crypto Miners:
Let’s hear our last question from Twitter

5.How will your project generate income to sustain your project and what is the revenue models? How can it be mutually beneficial for both the invetor and your project?

Paul:
Since this is quite sensitive, I can only share a little bit with you

Our main income will continously be reinvested to the project to make it more and more polished than before

Also, we will commit the most parts of the income to improve our departments to provide better service to the community

Ramsy | Crypto Miners:
That’s the wind up of our twitter segment

Now Moving on to our last segment — Live Q&A

Shall We Paul?

Paul:
Yes, please. I’m fully prepared

Ramsy | Crypto Miners:
Cool
Lets go

Segment 3️⃣: Live QnA
(In this segment group was opened for 60 seconds and Miners sent hundreds of questions. Guest choose some best to answer)

1) Zed (Never DM you first):
Is your platform suitable for the beginners? Or is it just appealing to professional users?

Paul:
Everyone is welcome. If you are a beginner, then our customer service, admins team will help you as much as possible since this project is for the community and its aim is to provide a decentralized finance for everyone. In case you have been an experienced one, then you will be stunned when you see our DEX and DPTP 2.0. Mark my words

2) Sarika ∆:
you will be announcing DEX GEN 2 mainnet release. What striking differences Will be there in newer version?

Paul:
Have you seen a decentralized project with an orderbook mechanism and AMM combined into the DEX 2.0? Surely not, because our DEX 2.0 has not been released yet. For traders, exchanging will be done superbly easy, convenient and fast. Also, you own your money and you have rights over your money, we do not hold anything.

3) Yuhgf Mzwip🪂:
When will your tokens be listed on the exchange and which exchanges do you plan to list on in the future?

Paul:
We are forging ahead with partnerships right now and in the near future, we guarantee that you can buy $POSI from nearly everywhere you want. A little reveal: many discussions are on the table and we are working hard each day to get them done.

4) 𝙰 𝙽 𝙾 𝙽 𝚈 𝙼 𝙾 𝚄 𝚂 𝟺𝟶𝟺:
I read that Position Exchange developing a Fully Decentralized Derivatives Trading Protocol (DPTP). an you please explain more about DPTP? How users can benefits in this protocol?

Paul:
DPTP 2.0 is coming and it will revolutionize the way futures trading works in decentralized finance. Firstly, gas fees are lower and transactions are faster. Secondly, we use orderbook + AMM mechanism on EVM and you surely haven’t seen this in any other decentralized projects. Finally, in current situation when CEXs are losing the trust, we will provide transparency to you, of course you hold your money and your funds.

5) Alchemy x Hunter:
How does the Position exchange Testnet derivatives works? Any rewards for the users?

Paul:
It is used to stress test the DPTP 2.0, thus improving it with feedbacks and experiences from users since we know that we need the power of the community. This program does not require anything to enter, it is literally free. Of course, there are rewards for you as you can get more than $500 in a single round and a huge chance to get $30.

Here is the link if you are interested: https://discord.gg/position-exchange

*This segment ends here*

Ramsy | Crypto Miners:
Thankyou So Much Paul For your valuable answers and information about Position Exchange 💚

Paul:
Thank you for your great questions, guys 💚

Ramsy | Crypto Miners:
Is there anything else you would like to share or you want us to know?

Paul:
Of course

I want to thank Crypto Miners for this AMA, I hope that I have done a great job in showing the potential of Position Exchange as well as letting you know about a trule DeFi project in the current state.

Once again, thank you all and I hope to see you in Position Exchange groups or at least supporting and helping us in building a great product for everyone

Ramsy | Crypto Miners:
On Behalf of Crypto Miners Community Wish all the very best for Position Exchange And The Entire team behind the project❤️🤝

For sure 🤝

Paul:
Thank you a lot Ramsy ❤️‍🔥

Ramsy | Crypto Miners:
Time To Conclude Our AMA Section

Have a nice day Paul

Paul:
Have a great day everyone 💚

Website: https://position.exchange/
Twitter: https://twitter.com/PositionEx
Telegram: https://t.me/PositionExchange
CMC: https://coinmarketcap.com/community/profile/PositionExchange
Discord: https://discord.gg/position-exchange

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