Coinwire.com hosts an AMA with Flux Exchange. #Fluxexchange #Fantom #FantomDaily #AMA
Coinwire Admin: Good dayyyyyyy ladies and gentlemen, welcome back to another AMA with Fantom Daily! I’m your host, Daley and joined with me today is Flux Exchange – a MultiChain Dex Leveraging and Future Trading Exchange platform. You are free to check out their website here:
Together with Flux Exchange, I’m happy to have Sam and Shubham in our community! Welcome guys! How are we doing today fam?
Sam: Thank you Daley, it’s a pleasure to be here with you guys. I’m doing wonderful
Shubham: Hello Fantom Community & Daley. We are doing good, how are you ?
Coinwire Admin: Amazingly!!! Thanks for asking 🔥 I can’t wait to start this AMA session, are you guys ready?
Coinwire Admin: Perfect!! Let’s kick this AMA off with our first segment: Q&A with the host
Q1: Could you tell us a little bit about yourself and your team? What are your past experiences?
Sam: As you already know my name is Sam, a senior blockchain developer and blockchain security engineer
Shubham: Hello Myself Shubham Maheshwari , I am Community Manager and growth lead for Flux exchange , About my past and experience I have been into the crypto and web3 industry for 3 years and worked with so many multichain projects like BNB , Near and Aurora …
Coinwire Admin: Nice, you guys are both experienced! So what about the project of Flux?
Q2: What is Flux Exchange all about? Why did you and your team decide to build a decentralized Perpetual Trading Exchange on Fantom?
Sam: Flux exchange is a decentralized perpetual and spot trading platform that offers advance trading options
Shubham: Apart from that, we are building a seamless perpetual trading experience with the ability to trade like a pro. We are currently building on three chains Fantom , Near and Aurora and soon more chains are in line. The idea of building a flux exchange came about due to the limitations faced while trading on dex. Like everyone else in this space I am a trader and I love to have many options while trading and managing risk. Having funds in a particular chain and needing to bride to another before one could conduct perpetual trading I believe remains a minus to the advantage of decentralization. I feel this way together with the rest of my team and instead of complaining we thought to contribute. Flux Exchange will be both cross-chain and multi-chain enabling users to seamlessly trade native assets between blockchains — or trade assets native to one specific blockchain with low swap fees and zero price impact trades.
Sam: We are building a Flux exchange to give the cex experience on dex. Giving limitless ability to trade with an amazing user-friendly interface. We all have to contribute to the dex space to make it better, either as a builder or a liquidity provider. Dex is Crypto we believe strongly
Coinwire Admin: There are indeed innovators thinking the same thing like you guys, and wanting to bring the CEX’s trading experience to DEXes. So:
Q3: How does Flux compare to other exchanges?
Sam: What we are building is not entirely new maybe new to the chain we are launching but there’s something similar elsewhere but what we are contributing is bringing ease to the act of perpetual trading with a smooth user-friendly interface and incorporating multiple security measures to ensure users funds are secure
Shubham: One of the highlight features is that we are connecting to multichain to provide users best and seamless trading from different chains and the best UI interface with different modes … Beginner’s and Pro Trader
Coinwire Admin: Gotcha! Next stop, I want people to understand more about your tokenomics:
Q4: Can you share with us your tokenomics? And what are some of its use cases?
Sam: We currently do not have any plan to launch with a token as we do not deem this necessary, we are offering a perpetual trading platform where liquidity providers earn the more the trade volume and these providers will be paid in native chain token / stables. That’s another way you’re different from most exchanges I would say. Yes
Shubham: It means that the more you earn while leveraging and trading … you can earn in Native Coins. That’s so cool uhhh 😎😎
Coinwire Admin: Right, now dialing back to that security features you mentioned
Q5: Have you done any audits? Don’t be shy to mention everything you do to keep users’ funds safe too!
Sam: We are currently in talks with a few reputable contract auditors but we are still building and changes are still being made, we have to complete the changes and internal testing before we submit officially for the audit, this will surely be completed before the mainnet launch. First, we have what we call time lock. What this means is ( calls made to the vault that could drain the customer’s funds in the vault) are delayed for 48 hours before execution giving enough time to detect and stop any malicious calls
Shubham: There is also an surprise for community before mainnet launch … we will be having our V1 testnet soon… soo join the discord and get the roles to become early Beta Tester https://discord.gg/JdnkfDRC. Secondly, we have Multiple pricing architecture to prevent price manipulation and prevent front running bots. We have implemented a different block execution( that is transactions are executed in different blocks than the one they are created) this stops front running or makes it unattractive to the bots
Coinwire Admin: Noice, I really hope this can do what you expect to do man, front running is indeed too annoying, it would be more than great if you can prevent it
Q6: So, what can we expect in the next 3 months and in 2023 as a whole?
Sam: You can expect our internal testing to be completed, auditing completed probably and main launch. If we can think it, it is possible
Coinwire Admin: Take your time too, these things can take months.
Sam: Yes Testnet launch also we are working on UI and UX on website and also all the mechanisms so you can trade without any issue. yes we have been in the building phase for long
Shubham: Our marketing is in full swing … and soon we will connecting more project and partnership 🔥
Sam: Fantom Daily is always ready to help! So for our last question:
Q7: Where can we find out more about Flux Exchange?
Coinwire Admin: This is for you guys to reiterate joining your channels!
Sam: Currently information are available on our social media channels, before launch we will have a complete documentation and guide available to users
Shubham: Get everything under one roof
Coinwire Admin: Lovely!
Coinwire Admin: With this we are now at the end of our AMA session with Flux Exchange🔥🔥🔥
Time for wrapping up, any last words you would like to say to our community??
Shubham: Kindly join the Social and Discord … we will be having so many events and Drops for our OGB users
Sam: Together we can build solutions and take control of our trades, look out for Flux exchange and remember to invite others
Coinwire Admin: Thank you so much guys for being here and introducing us to Flux Exchange! Best of luck to you guys and your upcoming testnet 🔥🔥
Sam: Thank you 👍
Shubham: Thank you 😊