AMA Recap: CRYPTO MINERS x UZX

Universal Zone Exchange (UZX) is an international digital asset derivatives exchange based on a decentralized autonomous organization (DAO) governance, aiming to provide secure, stable, convenient, fair, and reputable blockchain asset trading services to global users. UZX.com provides one-stop encrypted asset services such as coin-to-coin, perpetual contract, spot, options, NFT, financial borrowing and lending, and supports multiple language versions including Chinese, English, Japanese, and Korean. Its technical solution is based on Amazon AWS and Google Cloud, which can effectively prevent DDOS attacks, support dynamic and static data separation, hot data caching, off-site disaster recovery, parallel expansion, and other functions. The world-leading technical architecture ensures secure user transactions and has real-time blockchain asset access capabilities, multi-currency address sharing technology, and multiple security verification protections. Additionally, UZX.com has relatively low blockchain asset trading fees and withdrawal fees in the industry. As a trustworthy DAO governance exchange, UZX.com is committed to fully safeguarding user transaction information security and asset security and providing users with an excellent trading experience.

We hosted an AMA session with UZX Exchange on 18th September.

Mr. Ramsy was the host from Crypto Miners and Mr. Jonathan Lee, Global BD Director was the guest. He shared delightful knowledge and unique features of UZX.
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Segment 1️⃣: Introduction

Ramsy | Crypto Miners:
Hello everyone 👋 Welcome to Our Another AMA Session With UZX

Today, we are very honored to invite Mr. Jonathan To be our guest in our today’s session to introduce UZX

Hey mate 👋

Johnathan Lee:
Hi, nice to be here.

Ramsy | Crypto Miners:
Welcome here mate

Thanks for bringing us UZX ❤️

Johnathan Lee:
it is our honor.

Ramsy | Crypto Miners:
First of all can you introduce yourself to us?

Johnathan Lee:
This is Jonathan Lee, from UZX.com, your premier international digital asset derivatives exchange, Business Director of the Asia-Pacific region

I can’t wait to share with you the progress of UZX.com because we are doing something meaningful and making a contribution to this industry.

Ramsy | Crypto Miners:
Nice to meet you Jonathan 🤝

Now let’s begin our first part of the session — Project introduction

Are you ready mate?

Johnathan Lee:
Of course!

Ramsy | Crypto Miners:
1. Can you please share current progress of UZX?

Johnathan Lee:
UZX.com 2.0 (App Store & Google Store) is set to become the most competitive international digital asset derivative trading platform for every participant and practitioner in the Web3 industry.

The brand new app — UZX 2.0 — is coming with faster response speed, more comprehensive product features, and a dominant matching system in the industry. At the same time, a brand new website will also be launched.

If you don’t want to miss out on the registration blind box airdrop carnival, please follow our Twitter: https://twitter.com/UZX_Official

The new app will be released on Sept. 20th.

Ramsy | Crypto Miners:
That’s cool 👏

Johnathan Lee:
New registers will receive mystery boxes

Including up to $10,000 Rewards

Ramsy | Crypto Miners:
Don’t miss it guys!!

Now share about what makes UZX.com stand out in this central platform racetrack?

Johnathan Lee:
If we define the term “anonymous registration” as requiring users to not provide their real name or ID number during registration in order to protect their privacy, this type of registration is necessary in certain situations, such as on digital asset trading platforms within the Web3 domain and some Social class social media project.

Users can choose to register an account using their email address to further experience each product of the exchange, which we will certainly provide for this regular registration method

However, this is not the correct way to open Web3 on UZX.com. On UZX.com, you can log in using your private key without any other device login verification or inputting any verification code, because the private key represents who you are.

Therefore, there is no need for any verification information when withdrawing any coin, just like with a decentralized wallet.

I think before we talk about RFQ, perhaps it makes sense to touch briefly on the history/evolution of exchanges and what Market Makers and AMMs even do.

For any exchange to work, whether it’s centralized or decentralized, you need liquidity for the market to function.

If you’re going to buy or sell any asset at any given time, you would need some counterparty on the other side who is willing to buy from or sell assets to you.

This is what many of the professional market makers do — they play the role of being the counterparty to every trade.

This is how trading has worked in traditional finance.

Once crypto came in, exchanges like Coinbase and Binance adopted the centralized exchange model.

During the 2016 and 2017 periods, we saw the drawbacks of the CEX model with the demise of exchanges like Mt. Gox, which led to this new movement of building orderbook exchanges on-chain (i.e. Ether Delta).

Fast forward to 2019, Uniswap came on the scene with its AMM model which was a novelty at the time, and it ignited the DeFi summer.

The whole idea of AMMs was to remove the traditional market maker in the middle, and allow anyone to provide liquidity by passively depositing funds into a smart contract.

The smart contract will then use a predetermined formula, called a bonding curve, to determine the price of the swap.

Although AMMs are important and played a major role in the evolution of exchanges, they’re not perfect.

AMMs are routinely prone to slippage (the difference in price between when your swap is submitted vs. executed), MEV (Maximal Extractable Value) attacks including front-running, sandwich attacks etc., and the inability to facilitate cross-chain swaps without relying on external bridges.

This is where the request-for-quote (RFQ) model comes in. UZX.com’s RFQ model essentially allows you to request a price quote for a specific swap (i.e. 1 $ETH for $USDC) directly from professional market makers (PMM).

This price quote is computed off-chain, backed by cryptographic signatures, and guaranteed by the PMM.

By moving pricing functions off-chain, traders on Hashflow can benefit from:

- Better prices (UZX.com PMMs price your assets more efficiently)
- Zero slippage = what you see is what you get
- Full MEV protection

Our goal is to build the best decentralized trading experience where anyone can trade any assets on any chain, but with all the complexity abstracted away.

We started with the RFQ, and we’re excited to continue building all the interesting things on our roadmap.

Ramsy | Crypto Miners:
Thanks Johnathan for this very detailed answer

Now moving to the next question…

3. UZX.com is very experienced in DAO governance and has many successful application scenarios. Could you please share with us briefly?

Johnathan Lee:
Before starting this sharing, allow me to introduce two big important functions of UZX DAO please:

UZX DAO Governance: more inclusive, transparent exchange ecosystem, promoting innovation, etc…

UZX DAO Rights: Proposing, VIP privileges, Voting, Dividends, Candidacy, Shaping decisions, etc…

I am really excited with this DAO achievements and wanna to share our whole functions to all of you, it needs a little bit exciting, so let’s move on to the next part:

In addressing the drawbacks of CEXs, such as vulnerability to hacking, lack of privacy, and overreliance on centralized control, UZX offers an innovative solution.

Our platform allows users to register anonymously within seconds, achieved by excluding fiat from our ecosystem.

Additionally, UZX operates under the governance of a DAO token, backed by a Cayman foundation. This revolutionary approach empowers users to fully commit to decentralization principles and participate directly in the decision-making processes that shape the future of our platform.

By harnessing the strengths of CEXs while embracing the positives of DEXs, UZX stands at the forefront of a new era in the industry, promising to usher in transformative changes.

Allow me to provide further insights into our DAO and highlight the ways it will redefine and elevate our platform.

We chose DAO as our governing framework because it aligns seamlessly with the spirit of blockchain technology itself. Blockchain is fundamentally about decentralization and individual empowerment.

By fully embracing DAO, we not only adopt an innovative governance approach but also remain steadfast in upholding blockchain’s core principles. In the ever-evolving cryptocurrency market, innovation and adaptability are paramount.

Ramsy | Crypto Miners:
Looking forward…

4. Besides the anonymous registration system and DAO governance, what innovative and interesting product features have been developed by the UZX.com product team? How far are they now?

Johnathan Lee:
We have exciting plans that will further redefine the landscape. We offer a range of exciting cryptocurrency trading options, including Swap, Perpetual, Spot, Second Future, Option, Launchpad, and UZX DAO, catering to the diverse needs of traders.

In March 2024, we are set to launch the WEB3 wallet, a significant addition that will enhance our users’ experience and bolster the security of their assets.

Then, in June 2024, UZX LAB, a center of innovation and collaboration, will usher in a new era of development and exploration.

Ramsy | Crypto Miners:
5. What are the main directions for UZX.com? Is it marketing, product development or technology development? Or both of them?

Johnathan Lee:
Our product roadmap, UZX.com has the potential to become the industry standard that offers the most seamless decentralized trading experience with self-custody.

Advanced Trading Tools, Orderbook exchange, and more — all of these efforts could eventually culminate into an industry-first product.

To make our roadmap a reality, over the past months we’ve scaled up our team with 300% more engineers, and 400% more for marketing.

I’m thrilled to have joined UZX.com to shepherd our marketing, growth, and communications efforts globally, and I’m beyond excited for all the opportunities we will have to tell the Hashflow story, unveil the UZX.com, and grow the UZX.com all around the world.

Ramsy | Crypto Miners:
6. What are the main competitors of UZX.com? What are the advantages or disadvantages compared with the rivals?

Johnathan Lee:
We generally don’t focus too much on competitors, but rather we prefer to focus on the user and making UZX.com better and better each day. That said, UZX.com is in the same space like Binance, OKX, etc.

Ramsy | Crypto Miners:
Let’s see the last question from this segment

7. What is UZX.com vision? Who does UZX.com want to become and surpass?

Johnathan Lee:
UZX, short for UZX Exchange, emerged from a collective desire to address cryptocurrency exchange industry challenges. In just one year, we’ve gained recognition for our commitment to innovation and user-centric design, aiming to seamlessly blend centralized and decentralized exchange advantages, providing a unique, secure trading experience.

Looking ahead, we’re dedicated to innovation and user empowerment, envisioning DAO governance as a norm across the cryptocurrency industry. We invite you to join us on this journey towards a more decentralized, secure, and inclusive financial ecosystem.

In conclusion, UZX goes beyond the traditional exchange definition, representing innovation and excellence. Through DAO, our users are active stakeholders, bridging centralized and decentralized worlds, empowering traders worldwide on a secure, transparent platform.

Thanks for attending the AMA with us

*This segment ends here*

Ramsy | Crypto Miners:
Thanks Johnathan for this well detailed introduction about UZX

Time To Conclude Our AMA Section

Johnathan Lee:
Let’s talk more in the community

We are going to hold many airdrop activities in the following

Ramsy | Crypto Miners:
Guys get touch with UZX 📌

Johnathan Lee:
So Follow us

You won’t regret

Thanks, everyone

Ramsy | Crypto Miners:
On behalf of miners community wish all the very best for UZX and the entire team behind the project❤️🤝

Have a nice day Johnathan 👋

Johnathan Lee:
👍

If you would like to learn more about UZX, here are some useful links for you:

Website: http://uzx.com/
X: https://x.com/uzx_official
Telegram: https://t.me/uzxofficial_english
Discord: https://discord.gg/xXJ3bmsH
Instagram: https://instagram.com/uzx_official