AMA Recap Crypto Library with ExpX

                                         

On 24th September 2021, ExpX conducted an AMA in the Crypto Library Community. Our guest is Alex Masharov. Lots of questions as usual from the Community about ExpX progress. The ExpX team took part in a very interesting AMA session which included introductions, questions from twitter, and a live AMA session with the Crypto Library community. If you missed the AMA in person, read this recap for a deeper insight into ExpX.

Let’s take a look at the most interesting points of our conversation. 

INTRODUCTION
Crypto Library Team : So, before we start the AMA could you please introduce yourself to our community?

Alex Masharov (ExpX) : Of course - hello everyone! It's great to be here with you folks. My name’s Alex, I'm based in magical New Zealand, and I'm a firm believer in a great future ahead for blockchain and DeFi! 
FIRST SEGMENT (HOST)
Crypto Library Team : What is EXPX? and Why EXPX was launched on Binance Smart Chain?

Alex Masharov (ExpX) : ExpX is the first Balancer-style protocol on the Binance Smart Chain. The reason we launched on the BSC is because we believe this platform is uniquely suited for DeFi due to its fast, affordable transactions, as well as the ability to scale well. Our goal is to become a key service on the BSC, enabling the entire community on the platform to better balance and leverage their crypto portfolios.

Crypto Library Team : What are the special features and advantages does EXPX want to offer?

Alex Masharov (ExpX) : There are quite a few!
  • Fast (<2 seconds), affordable (about 0.005 BNB per swap) transactions.
  • Up to 8 tokens in a single pool.
  • Automatic portfolio rebalancing.
  • Governance token rewards for liquidity pool creators - we're a fully decentralized protocol!
  • Smart transaction routing.
And, we're already live on BSC mainnet.

Crypto Library Team : Please tell us about $EXPX token! What are the token use-case, distribution, and also where we can buy it?

Alex Masharov (ExpX) : So, our token has two primary use-cases:
  1. Staking. After our public launch, tokens will be awarded daily to the creators of liquidity pools on our protocol, in proportion to the total equity present in a pool. Each EXPX token in your pool will count as 10x for the value it represents when determining these reward allocations. So, holding and staking $EXPX will allow you to hugely increase the value of any pools you create!
  2. Governance. ExpX is a fully-decentralized protocol, and every $EXPX token carries with it the ability to vote on protocol development and future direction. Once a certain threshold in token release/ownership is exceeded in the future, we (the ExpX core team) will cease to be the decision-making body, and simply become a part of the wider ExpX community, mutually interested in keeping the protocol relevant and developing in the right direction.
Since we are currently pre-launch, our tokens are not yet available to buy (they haven't been issued yet!). Immediately following public launch (mid-to-late October), you will be able to acquire $EXPX tokens by swapping for them in one of several pools on our platform - you can get a head-start by heading to expx.finance now, and familiarizing yourself with our UI (click Launch App in the top right corner).

Crypto Library Team : Based on your roadmap, the public launch on IDO is in Q3 2021, when exactly will IDO take place? and where will the $EXPX token be launched to the exchange?

Alex Masharov (ExpX) : ExpX is a long-term project - we believe that the value our protocol brings to the BSC will grow exponentially over time. The more equity is locked in liquidity pools, the better the outcome for both pool owners and individual users looking to maximize the returns on their investments - it is as win-win scenario, where the entire community benefits! To this end, our tokenomics have significant funds set aside for future protocol and ecosystem development, so ExpX will continue to evolve along with the community's needs for the services it provides. 
SECOND SEGMENT (TWITTER)
Crypto Library Team : In the future $EXPX definitely needs to expand its ecosystem, which requires the support of investors and users. Will this project be integrated with other blockchain technologies? Or stay only on BSC? Can you explain your plan on this aspect?

Alex Masharov (ExpX) : Thanks for the question! We do have future plans to incorporate additional platforms into the ExpX protocol, however for now it is crucially important that we make the maximum possible contribution to the BSC specifically. We believe that, at this point in time, the BSC is the best platform for enabling the fastest and most profitable swaps for the community at scale. In the long-term, however, we are especially looking at moving the protocol onto Polygon, among other platforms. If you want to achieve great things, it's important to focus your energy - one thing at a time!

Crypto Library Team : Based on your roadmap, the public launch on IDO is in Q3 2021, when exactly will IDO take place? and where will the $EXPX token be launched to the exchange?

Alex Masharov (ExpX) : The public launch of ExpX will be in mid-to-late October, so approximately a month from now. The $EXPX token will, at first, only be available to the public as either a swap within a special pool on our platform, or a reward given out to the creators of liquidity pools. Token issue will be tightly-controlled, as we expect the value to rise dramatically in the weeks and months following launch (much like the original Balancer's did), so it is important for us to reward our early adopters fairly.
THIRD SEGMENT (LIVE QUESTIONS) 
Crypto Library Team : It's certainly true that just having a great idea is only a small part of making a project successful. Most of the difficulty is in actually doing the work! Thankfully, ExpX has an extremely experienced core team, with more than 40 years technical and blockchain experience between us. We also have established careers and businesses outside crypto, so have plenty of experience in "getting things done" 

Alex Masharov (ExpX) : For any crypto project, 1% of its success comes from the idea itself. 99% comes from execution. I have seen many projects fail due to lack of expertise & understanding of how the cryptosphere works. Does have the qualified team needed to fulfill all your goals?

Crypto Library Team : Smart contracts are prone to failure and many projects fall victim to this, costing users money and the project discrediting. How reliable and secure is your smart contract? Have you audit it through any of the parties? 

Alex Masharov (ExpX) : A good question here about security. I'm proud to be able to tell you that ExpX has been audited by Certik, a world leader in crypto and smart contract auditing. In fact, let me see if I can find a link to this audit somewhere. Here it is: https://www.certik.org/projects/expx We are 100% legitimate, and have the audits to prove it.

Crypto Library Team :  Where does the project name come from? What does it mean for you and why did you choose that name for your project? 

Alex Masharov (ExpX) : A good question here about our name - what exactly is ExpX, anyway?  ExpX stands for exponent ^ X, a mathematical formula usually written out as y = e^x. In simple terms, it just means that the growth of y is exponential, i.e. greater than 10x. Which is exactly how we expect our project to grow!

Crypto Library Team : How important is the community to you? and how can we collaborate or help you for the development of the project?

Alex Masharov (ExpX) : Another great question here. Community is everything to us. The very nature of ExpX is that the more people participate, the more everyone benefits. The more equity is locked our liquidity pools, the better the exchange rates, and the more rewards available for everyone, both pool creators and users. The best way you can help us (and indeed yourselves!) is to go to expx.finance right after this AMA, click the Launch App button in the top right corner, and start familiarizing yourself with how our platform works. That way, once we go live on public launch day, you can be among the first to start trading and earning $EXPX tokens!

Crypto Library Team : I am a daily Trader. How EXPX token will be advantageous for me?

Alex Masharov (ExpX) : ExpX is designed for people like you! If you trade daily, I'm guessing you have your crypto investments locked in a whole bunch of different tokens & coins. Wouldn't it be great if you could automatically keep your portfolio in optimal balance, getting revenue from the growth of certain tokens while at the same time de-risking yourself against a sudden drop by keeping others balanced against this growth? That's what we do! Create a pool with up to 8 different tokens, set your preferred balance percentages, and walk away - your portfolio will always remain in perfect balance, allowing you optimal growth at the same time as limiting your risks. What's more, open up your pool for others to join, and enjoy greater rewards of $EXPX governance tokens due to the increased value of the pool! Anyone who is serious about their crypto portfolio should give ExpX a detailed look!
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