Thank you to the Bang Pateng Community for participating in Ask Me Anything (AMA) with Xerxes Finance on October 10th, 2020. This guest star Mr. Bag – Xerxes Team. If you were unable to join the live AMA, no worries, here comes our 7th AMA recap!
We are glad to meet here:
Mr. Bag – Xerxes Team
Introduction Session
Before we start our first segment kindly introduce yourself to the community?
Hello, im Bag from Xerxes Finance Community. I have been in crypto before since 2018 and now exploring in the DeFi space.
Question Segment 1
Q1. Could you please describe what is Xerxes Finance?
Xerxes Finance is an investment where DeFi is being used in. It is the next generation of deflationary indexed with funds using a microeconomic structure.
Where the main use case of the ecosystem is to get interest from lending, supplying capital and staking LP Tokens.
There will be partnerships soon, the project still developing, there may be adjustments.
Q2. I see that Xerxes has it own token, could you please explain about the token? What benefits can we get when we hold the token? And can it be traded?
Xerxes Finance main token is XRX. It can be traded on Uniswap.
You can earn passive income through supplying capital.
Add XRX/ETH to pool.
https://app.uniswap.org/#/add/0x50736779d528c02990dddEe95Bb1F5eb99E1394b/ETH
We give incentives to Liquidity providers. 1% daily earnings of total pooled tokens.
Soon to be:
* Lending (Not live)
* Staking LP Tokens (Not live)
Q3. Now a days Farming is very popular. Do you have any plans of providing Farming Facility to $XRX Investor?
Yes, we have so many pending plans.
Platforms where we can pool were Uniswap for now – Balancer next.
We have pools live:
XRX/ETH and XRX/SPR (Uniswap)
Soon to be:
SPR/ETH in uniswap.
Balancer:
WETH + XRX/ETH=UNI-V2 + XRX/SPR=UNI-V2 + SPR/ETH=UNI-V2
Other pools:
25/25/25/25
Q4. How are you different and unique from all other projects out there?
We’ve just planned to make a project – just make a project that can be traded on uniswap.
But we extended it, we launch it like a mlm or like bitconnect/usitech purpose. Our lending platform is in the works (still discussing – there may be adjustments)
Then we decided to explore in DeFi space – where we faced so many problems, the Liquidity pool is locked (90% gathered from presale) and just like wtf??? We realized it after 1 week because it cant be liquidated. Well the good thing is: it cant be withdrawn and will stay in the pool. ���
Price pressure – tokens allocation for developments become thin.
Our project is still new, low market cap. There are so many adjustments. It is still in experimental period.
But we have measures and counter plans on it. SPR – will serve as the foundation of the entire ecosystem. We will gather funds also from it.
New injections of XRX and ETH to uniswap pool. Extract UNI-V2 + SPR (UNI-V2) then we will plugged it to Balancer. Plan is ready.
Unique: Well this project does not want to die – still fights!
Q5. Can you explain, what are your upcoming plans in a couple of month/years?
We will complete its roadmap.
Lending and Staking LP Tokens.
We runs presale on Spartans @SpartanSPR
Balancer pools***
To farm in multiple pairs (like yield farming – if that is what they supposed to call it)
We will look to partnerships where XRX can be used as crypto payment.
Question from Twitter
Q1. can you explain the relationship between project spartan and xerxes finance? whether the two are one development?
We are exploring DeFi space, so we extract some hype, or a baseline in a movie “300”.
Xerxes Finance consists of two deflationary assets:
1. Xerxes (XRX)
2. Sparatans (SPR)
XRX Ecosystem will get interest in Lending, Supplying Capital and staking LP Tokens.
XRX will look partnership where XRX will be use as crypto payment.
* Staking LP Tokens
SPR will support the foundation of XRX Ecosystem. We plan to make our own pool.
WETH + XRX/ETH + XRX/SPR + SPR/ETH
Also it will be paired to other multiple farm pools where you can get other tokens aside from these two assets.
We intentionally make it deflationary, so a user holds more in the pool will get more rewards.
Traders will be penaltied by 1% burn on every transactions. Fees earned from trades will be shared by the users in the pool.
Q2. Currently launching tokens is a rather simple process. However, building the system, ecosystem, and stabilizing prices is the hardest part for any platform. so, how does Xerxes Finance solve this problem to increase XRX token sales & how will XRX be used in the ecosystem?
We make it more unique, Xerxes (XRX) is a deflationary asset, low supply and the main token of the project.
XRX will be used in Lending services:
Where you get 1% daily earnings, 30% profit guaranteed in 1 month. It will be locked in a long period of time and will be given back to you when contract ends.
Supplying Capital and Staking LP Tokens.
– We encourage them to join the pool by giving incentives the same ratio to lending services.
Q3. what about Xerxes target market? What is difficulities & chances you are facing right now while crypto or blockchains market is still young and need time to grow?
We are now more focused on DEX. It is where the LP will be benefit, soon we will list it on CEX.
We admit, we made an honest mistake when we inject 90% funds in the liquidity pool. It is locked in a long period of time.
Measures: So we run presale in Spartans “SPR” so we can get funds from it, inject another XRX/ETH so it will be liquidated.
Staking LP tokens will follow and we will create our own pool to Balancer.
Q4. Each project has interesting stories before it is created. So can you tell people about the story that gave you the motivation to build and develop a great project like your?
Yes, the project excerpt from a movie “300” where persians led by Xerxes declares war and try to conquer Sparta – where King Leonidas and Spartans fought among them.
So we decided the project will have two deflationary assets. Xerxes (XRX) and Spartans (SPR).
In movie, they fought hard, there are losses in soldiers – still fight and hold.
So we get the idea to that. Since deflationary, it burns 1% on every transactions. There are losses in numbers – still trades – there are gains from fees – adding to pool?
Then hold! Awoooo! ���
Q5. What is the total supply and what kind of plans do you have regarding the token unlocks in the future?
Xerxes (XRX) total supply is 3,000 and decreasing (now 2893 left). The burning will stop when 1,000 XRX left. Spartans (SPR) total supply is 300. The burning will stop when 100 Spartans left.
We have tokenomics stated in the whitepaper. 80% of total tokens will be in the ecosystem. 20% will stay in the reserve funds for rewards.
Segment Free Asking
Q1. Vast majority of Crypto projects are built just for the sole purpose of amassing wealth for themselves. So, I want to know the value you aim to add to crypto industry that will bring greater abundance to the industry?
As Education for crypto currency is necessary nowadays, what’s your plan to to attract those people who don’t know about cryptocurrency?
That is true, there are some users just come and go. We on Xerxes Finance excerpt its functions so investors or crypto users will know easily the main purpose of the project.
For crypto education, we published articles and posts many updates regarding about the project.
Excerpt some ideas in movies, in other projects. And helping the community the steps to buy and sell xrx. We provided some useful links – also discuss with ideas and more.
Q2. How does the mechanism of change of Circulation Supply according to Liquidity work? Which factorial does Circulation Supply of $XRX depend on? Could you tell me more about the decentralized ”add” and ”remove” Liquidity Token Sale process?
This would be complicated for now. 80% of the total supply will be supplied to the ecosystem. We will hold 20% for rewards.
About the APY in pool.
Adding pool to Uniswap: XRX/ETH will earn 0.3% fees generated from trades. It will be estimate 38 to 75% APY.
About the balancer – it will balance the trades on pairs in a pool.
The APY is not determined yet since users joined to that pool. It will be different, the LP token stake will gather or generate up to 200% APY. (estimate)
We give incentives also, 1% daily to Liquidity providers – it will stop when rewards for LP incentives has been distributed.
Q3. What is the GAP you are addressing in the market? What is the opportunity you are exploring? What is the problem you are trying to solve?
We are in exploring stage in DeFi space. We want is to do a pool where two tokens fight each other. The XRX and SPR.
It will be a bumpy ride when it plugged to balancer. It will balance the trades in pool.
So we will create our own pool using these two assets.
LP’s earn more fees, get more tokens – together with the trades and the burns. Still not determined – so we are so eager and dedicated to achieve that.
Q4. As Personal Data is very Important, How will You provide total security?
We will make it more like a community-driven. Like a more decentralized where people will hold more tokens than us.
Help each other, support each other – avail the services. Join and stake in the pool.
We will make it more decentralize – manipulation will just take place in the pool.
Q5. What do you think about DeFi trend these day? Yield Farming and staking is on fire this several day, but It has really high risk to lock our token when the price going down. How Xerxes Finance convince investor to invest on $XRX and $SPR?
We will use a third party platform where you can put trust than us. Of course, as an xrx holders must trust us first.
What we actually meant is, Uniswap and Balancer were top DeFi platforms where tokens like XRX traded.
About that… Staking is different.
We will create our own pool.
ETH – XRX – SPR will be shared when you stake your LP tokens.
But wait, there is more:
We will also plugged it to other multiple pairs so when you stake your LP tokens, you will get other tokens too.
And we did not lock that. Its you, as a user. You will just choose which pool you want. ���
MORE INFO ABOUT XERXES FINANCE
Website : https://Xerxes.finance
Telegram : https://t.me/Xerxescommunity
Twitter : https://twitter.com/communityxerxes