BSCDaily hosts SheepDex: #DEX #SheepDex #BSCDaily #BSC
BSC_Daily Admin: Hello and welcome, how are you today?
Isabel: I am great, thank you.
BSC_Daily Admin: Happy to hear! Ready to start our AMA?
Isabel: Let’s get started.
Q1: Let’s start off with an introduction of your team. Can you tell us a bit about the team and their experience with crypto projects?
Isabel: Our team members are Blockchain experts across the world. We have been focusing on the DeFi space and developed well-known public chains and DEXs with a market cap of more than $10 billion.
Q2: Can you explain to those finding out about you for the first time what your project is about? So why the name SheepDex and story behind?
Isabel: We like Sheep. Our founder loves sheep.
The founder believed that sheep were a symbol of kind people with gentle temperament. And he wants to be someone who gives more than who gets, and brings luck and fortune to community members.
Q3: Is SheepDex open-source auditing?
Isabel: The smart contract is open-source and the contract code has been audited by CertiK and PeckShield.
And more audit firms will be involved to ensure the security of SheepDex contract. SheepDex always focuses on security and efficiency of users’ funds.
CertiK has compeletd the audit: https://www.certik.org/projects/sheepdex
You can check the audit report from the link.
Q4: What are the advantages using SheepDex compared to other DEXs?
Isabel: SheepDex is the first DEX on Binance Smart Chain that offers concentrated liquidity, and it offers both spot trading and derivative trading. So it has four most outstanding advantages than other DEXs:
1. Liquidity is concentrated in the price ranges where most transactions occur, resulting in less slippage and fewer loss for stablecoin pools.
2. Each transaction is charged with a fee of 0.2% as other exchanges on Binance Smart Chain, however, with SheepDex users can earn more rewards from each transaction they make.
3. On SheepDex, LPs can earn transaction fee refund by adding liquidity in the range where transactions occur, and they can earn more if there are more transactions in that range.
This fee income is particularly pronounced on base currency pair such as BNB/BUSD, which typically offers an APR of over 200%.
4. LPs can combine Yield Farming with a variety of strategies, allowing them to convert various LP portfolios in the face of changeable market conditions and to help them obtain more profits.
Q5: What exactly are triple incentives? Do you mean SheepDex is offering more rewards to users?
Isabel: Yes, users can actually earn more on SheepDex, which means their capital efficiency with be greatly improved. To be specific, SheepDex provides users with more incentives and portfolio management strategies. Users can choose more aggressive or conservative strategies according to their preferences.
1. Sheepdex offers LP transaction fee refund for completing the transactions within the price ranges.
2. Transaction rewards: When the transaction is completed, the user’s trading fees will be returned in the form of pool tokens so that both users and exchanges can be benefited; some pools also offer SPC tokens as transaction rewards, which greatly reduces the transaction costs.
3. Yield Farming: LPs will get SPC tokens by depositing specified token assets as required to provide liquidity for the liquidity pools.
Q6: Let’s talk about your token. What is the Tokenomics of SheepDex?
Isabel: Total supply of SPC tokens is 90 million. The emission rate is 3.5 tokens per block. And the deflation is: reduced by 20% every 90 days.
Token allocation will be: Yield Farming 25%, Transaction rewards 25%, Derivatives 20%, Team 8% , Marketing 5%, Branding 3%,Airdrop 2%, DAO 2% and Investor 10%.
Q7: What is the status of the project? Is there any progress?
Isabel: It’s been less than three months since we announced the project, but the technical team has been preparing it for more than a year.
So far, SheepDex has attracted users in more than 20 countries. It now has over 100,000 followers and members from 60 communities around the world have joined us.
The private placement is also underway, with Fission Capital in the first round. SheepDex is currently receiving a lot of attention from major international investors and we have been working closely with a number of institutions.
As Range Order (v3) is a new product, many investors and users are also testing it on SheepDex.
As you can see, the spiral growth in the total value locked (TVL) of SheepDex shows that this excellent product is gaining more traction. Users will have more room for arbitrage.
You can also learn how to develop better strategies on SheepDex.
Q8: Where can we find out more about SheepDex on social media?
Isabel: For the most latest info and announcements of SheepDex, you can navigate on www.sheepdex.org, or follow the official SheepDex Twitter account.
SPC Contract Address（Sheep Dex) is: 0xc67a54D5E08e59FB70DD29D81350C6Ff4562D544
BSC_Daily Admin: With this, we are now at the end of our AMA session with SheepDex.
Time for wrapping up, any last words you would like to say to our community?
Isabel Thank you guys. I hope you can try to understand what SheepDex does. If you wanna learn more, you join SheepDex community, our ambassadors and volunteers will be glad to answer your doubts. See you next time.
BSC_Daily Admin: Thank you so much for spending time with our community & all the very best for SheepDex.