AMA RECAP DEXTOOLS #30

Thank you to the Bang Pateng Community for participating in Ask Me Anything (AMA) with DEXTools Time on December 23th, 2020. This guest star Mr. Frederic Fernández (Co Founder, CMO and Developer) | @FredericDEXT. If you were unable to join the live AMA, no worries, here comes our 30th AMA recap!

We are glad to meet here:
Mr. Frederic Fernández (Co Founder, CMO and Developer) | @FredericDEXT

Introduction Session

Host :
Hello Mr @FredericDEXT Welcome to the Bang Pateng community, It’s an honor to invite you to our community

Frederic | DEXT :
Hi everyone, Glad to be here with you.

Host :
Before we start our first session can you introduce yourself, your background and your team if you have a team working with you on DEXTools @FredericDEXT

Frederic | DEXT :
Sure, I am Frederic Fernandez, Cofounder and CMO of DEXTools.

All DEXTools Team is formed by passionate developers and traders that are doing our best to help crypto ecosystem to grow.

Host :
Thanks for sharing your background. Good. AMA let’s get started.

Well we will continue to the first session, in this session I will give a question about DEXTools, if you feel you have enough to give an answer, you can say “done”.

Frederic | DEXT :
Okey, Done

SESI 1 (Poject Introduction)

Q1. Can you introduce DEXTools to our community?

Frederic | DEXT :
DEXTools is a complete app for traders, based on DEFI market, we create tools so investors and traders can have a more complete vision of what is happening in market, by now our focus is at Uniswap exchange, but soon we will adapt other exchanges too.

Q2. What are the core features of DEXTools? How are you different and unique from all other projects out there?

Frederic | DEXT :
We have many features that make us unique, we are the best real time data provider from Uniswap with a friendly user interface that all people can use, The most used tool is the pair explorer ,where users can see a complete token chart , trading history, and many other useful info about their favorite tokens. We have more than 80k users per day that uses DEXTools in a regular base, and that user Base is one of the things that make us unique.

Q3. I saw thatDEXTools has its token named $DEXT, can you explain what the token is $DEXT? What benefits can we get if we hold tokens $DEXT? And how to buy?

Frederic | DEXT :
DEXT Token is the central part of our ecosystem, and it’s the way how people can subscribe, by holding or paying a subscription, to access our most advanced TIERs, that have many exclusive tools. For premium members, we have a promotional airdrop each month , called DEXTShare, and an advanced private trading group called DEXT Force, which you can access holding 100k DEXT.

For a more complete info, users can read our medium : https://dextools.medium.com/subscription-system-launch-and-simplification-of-tiers-2e0a0c82f70e

Q4. Nowadays Farming or staking is very popular. Have you provided your Farming or Staking Facility to $DEXT Investors? if you have, can you explain how to staking and farming $DEXT?

Frederic | DEXT :
DEXTShare acts as a non-contract staking, you only need to hold your DEXT in a erc20 wallet and if you are a premium member you will receive your promotional airdrop each month. We are open to setting up more farming options in the future for the non-premium community. However with last exploits and hacks in other projects, we are still looking for the best option.

Q5. Could you please explain, what are your upcoming plans in a couple of month/years?

Frederic | DEXT :
Our plan is to keep evolving and developing the app to continue being the central hub of Defi Trading, many users come to Uniswap thanks to us and we provide them a more easy way to trade, and we would love to keep doing it. Also we would like to expand to other exchanges, like Sushiswap and even other chains like Binance. But we will adapt to everything that our community request, a big part of our development is based in community feedback.

SESI 2 (Twitter Question)

My question. when V1 is released you will burn 20 million from the first subscription fee. by burning 50% of the first 40 Million fees collected, on a monthly basis. (After that is achieved) So, (If it is not achieved) do you not lose? then what will you do? Explain. Thank you.
— kisstyasprastio (@kisstyasprastio) December 20, 2020

Frederic | DEXT :
In fact that already happened, we already burned most part of team supply, and first subscriptions burn happened this month, We are burning 50% of all the fees collected this year, from next year we will start burning 10% forever. Apart from that we were burning 10 million from team allocation each month, with last burn happening this 1 of January.

could you give me some documentation and guidance to understand how DEXToolsApp works in DeFi space or on blockchain? such as knowledge of the system and its various functions?
— Resnata Imran (@Ressknight12) December 20, 2020

Frederic | DEXT :
Sure ,The most complete source of info is our medium where you have a guide, and many insights of the project and tools.

https://dextools.medium.com/
https://dextforce.medium.com/

As the team mentioned.file the extraordinary resilience we saw The DEXTAlat ecosystem lies within it strong aggregation. question: what makes you sure that the security system of this project is so secure? who will be responsible for the project's emergency response to disasters?
— WANARAJA CITY (@Wanaking77) December 20, 2020

Frederic | DEXT :
As we only provide info, our only concern is providing the most reliable info possible, and that’s the focus of our work, we have several experts in our team working hard for that. But users have not any risk using DEXTools and funds or take part in the trading. The users should research before investing and take care about scams, for that DEXT Score is a very good tool to avoid most part of them.

In terms of regulation, are you fully compliant to ensure investor peace of mind? Do you think DexTools is ready to face the challenge of government regulation to achieve this goal?
— Royan (@roykimocheng) December 20, 2020

Frederic | DEXT :
Yes, we are Spanish based company registered and compliant with our laws, We are self-funded and we didn’t have an ICO or any other kind of fundraising. We are very respectful about our laws and we are a public team.

It’s respectable that you’ve been building the backbone of the project for many years. Can you share some of the difficulties that you’ve had during these years and why launching just now at the end of 2020?
— Bitcoin Kita (@BitKita) December 20, 2020

Frederic | DEXT :
As a complete project we started this year, at may, one of the biggest difficulties we faced was the huge amount of user growth we had during the August/September months, our system was not prepared to handle so many users and we needed to adapt very fast. But when our Core code was released with our new server also, things went so well since then.

It was amazing to see the user increase day by day during that weeks.

SESI 3 (Telegram Question)

Gery Bodag | @gerybodag
How do you plan to spread awareness about your project in different countries where English is not spoken? Do you have local communities for them to let them better understand about your project?@FredericDEXT

Frederic | DEXT :
We just set up a Chinese community at Wechat and Telegram, our Main community is english, and all DEXT Team is Spanish, with that we cover the 3 most spoken languages in the world. Later if project gets big enough we would like to setup communities for other countries too.

Rams | @rama_1809
whether this asset can increase its price? What is the security of asset dextools? Can these dextools have a very extraordinary selling value? I want to know the explanation, sir, thank you

Frederic | DEXT :
The price of DEXT is secured by offer and demand, and our deflationary system, we are burning 10% of all fees collected forever so from other sources, so scarcity will be very real when more users try to access the advanced features.

Saitama Kun | @saitamaMx
For a project development first of all main priority is having enough fund. Does your team financially capable to run this project? Do you have enough fund for it is developement? Can you tell us that how your project generate the profit?

Frederic | DEXT :
Yes, despiste of starting without presale or ico ( we are self funded) , we have enough funds to develop for years, thanks to being one of the most used apps of trading in crypto, we are fully sustainable only with ads, without the need of selling tokens like other teams, with that income we secured a big bag of funds to develop the upcoming years even if we won’t earn more since now.

SEN | @Tony253210
Recently has been appeared so many DeFi projects and I just get noticed that they are using a DEX tools link as “Proof of authenticity”, so DEX tool can be used as a filter of SCAM projects?

Frederic | DEXT :
Speacially with Sponsor projects, we always do a verification that should bring trust in most cases, but always DYOR before investing. DEXT Score is always a good thing to see before buying a token.

Lallu | @Lallulu
Currently DeFi project is on fire. But you know very well that, contract security is a big issue in DeFi. Has your smart contract been audited? How do you guarantee the protection of users’ funds?

Frederic | DEXT :
Our smart contract is a erc20 standard contract, and users funds are never touched by us, so the safety of our users is guaranteed by eth network, and every users needs to take care about their own funds.