If you didn’t get to make it to our recent AMA that we had with Satoshi Club on 3/10 the following is a recap of what we talked about! There were a TON of GREAT questions from the community! Make sure to tune in to the BITToken AMA that is being hosted at 5PM UTC in the Satoshi Club Telegram!
Pt. I – Twitter Questions
Gold Rocket | Satoshi Club: ready for community questions😁
Strainz: Yes we are!
🤠The CrYpTo Cowboy | 🚫WILL NEVER DM YOU FIRST🚫🤠: READY
Q1 from Telegram User @Z0ryan
First of all, congratulations with KITDEX Exchange BETA launch! This is an incredible event that you have been going to for a long time and which definitely deserves the attention of all users! Please tell us which features we can try now? Is beta available to everyone? And also share with Satoshi Club the first reviews of your users!n 🥳
🤠The CrYpTo Cowboy | 🚫WILL NEVER DM YOU FIRST🚫🤠: The DEX is fully functional for limit/market/hiding games orders. The aggregator runs underneath the professional exchange ensuring the best price and slippage for orders. Limit orders on the DEX can be placed GAS FREE this is achieved because 0x’s routing technology allows for users to perform a wallet to wallet swap when the order is reached with the “taker” paying the gas for the TXN. KeeperDAO’s “Hiding Games” integration is extremely exciting because users can earn ROOK tokens for placing limit orders on this order book
Gold Rocket | Satoshi Club: gas free sounds great today! 😁
Krtklplz: Gas free! has me doing backflips! With todays gas prices it is hard for smaller capital traders and investors to enter the ERC20 market. Even extremely costly for larger capital traders and investors. Dexkit is lowering that barrier which is super exciting!
🤠The CrYpTo Cowboy | 🚫WILL NEVER DM YOU FIRST🚫🤠: This is an EXTREMELY important thing for people to understand about the DEX. Unique to our platform
João Campos | dexkit.com: At the moment you can market buy and sell using the Aggregator liquidity from over 20 sources, post gas less limit orders on open Orderbook or earn ROOK posting limit orders to Hiding Games, check Trading view Graphic with data from all decentralized exchanges like Uniswap, ZRX protocol, Sushi and so on. Integrated easy swap interface like Uniswap, buy with fiat ETH and supported tokens directly on the market buy. Check order history across several sources like Uniswap, ZRX, Sushi and so on. Mobile first ready. And we are one of the first one to add support for limit orders on V4 of ZRX protocol, which is one of the most efficient protocols regarding limit orders. Limit orders posted on the exchange are available to be filled across all DeFi space
Andrés M. | Satoshi Club: How that protocol works?
João Campos | dexkit.com: You sign a message with your wallet with intentions to sell/buy a token from your wallet. Tokens only leave wallet when the order is filled, so you have all the time the custody of the funds
🤠The CrYpTo Cowboy | 🚫WILL NEVER DM YOU FIRST🚫🤠: Completely decentralized
Andrés M. | Satoshi Club: Which wallets are allowed? Metamask, Tust wallet?
João Campos | dexkit.com: On the V4 of the DEX, Metamask and Trust are supported, you can check it here: https://v4.beta.exchange.dexkit.com . Also Wallet Connect which allows almost all wallets to be supported
Andrés M. | Satoshi Club: Amazing, great work thinking in different users
Gold Rocket | Satoshi Club: Yes, I’m already trying. it’s very simple 👍
🤠The CrYpTo Cowboy | 🚫WILL NEVER DM YOU FIRST🚫🤠: There is a V3 version (https://beta.exchange.dexkit.com/#/trade/) and a V4 version (https://v4.beta.exchange.dexkit.com/#/trade) as well. The V4 version is identical apart from running on the most up to date version of the 0x protocol. 0x V4 (https://blog.0xproject.com/say-hello-to-0x-v4-ce87ca38e3ac)is the MOST EFFICIENT protocol on the Ethereum Network!
João Campos | dexkit.com: And additionally, this DEX will be available as whitelabel, so any project or individual can have their own advanced customized DEX on the future
Gold Rocket | Satoshi Club: and that’s great too! 👍
CryptoAndres: 🌈 Aggregator ➡️ https://swap.dexkit.com/#/swap
🌈 Dashboard ➡️ https://demo.dashboard.dexkit.com/
🌈 DEX ➡️ https://v4.beta.exchange.dexkit.com/
🌈 NFT ➡️ https://demo.nft.dexkit.com/
And you can try all of this now!‼️ Dashboard, DEX and NFT still in beta and demo but we will be releasing live versions soon💥💥
Andrés M. | Satoshi Club:
Why does platform not allow Ad Blocker? 🤔
João Campos | dexkit.com: Good catch, this will be removed on the future, so stay tunned.
Andrés M. | Satoshi Club: Thank you 😃
Gold Rocket | Satoshi Club: Thank you very much for such a detailed answer! want to add something or can we proceed to the next question?👏👏👏
🤠The CrYpTo Cowboy | 🚫WILL NEVER DM YOU FIRST🚫🤠: Let’s move forward! ✈️
Q2 from Telegram User @lzamg
I read that DexKit has a secondary token called BITT, a social media based token. Would you give us details about the utilities of this secondary token? How can we acquire it? What are the benefits of holding BITT?
Gold Rocket | Satoshi Club: To be honest, me and my friends this year spent colossal sums on gas during swap…. And we know this pain😂
João Campos | dexkit.com: First of all, BITT is not secondary token of DexKit, is a community token that uses and adopts DexKit tech. They will be the first to have the whitelabel DEX as well, and they use the token to reward the Bitsquad community efforts.
Strainz: BiTT is the Community’s token! BiTToken.Club will be here on Saturday to answer everyone’s questions best during that session haha
Gold Rocket | Satoshi Club: we look forward to them!🙏
🤠The CrYpTo Cowboy | 🚫WILL NEVER DM YOU FIRST🚫🤠: BITT currently has utility in Discord and will also be integrated into Telegram through the TIP.CC bot. It also has utility with the Bitswap and Crowswap branded aggregators that are powered by the DEXKIT platform. Holding 2500 BITT gives you a 90% fee discount on the platforms.
BITT will also be usable in future app releases for Bitswap and any other community that adopts it. This is a huge benefit to working with DEXKIT is you can leverage community currency with real utility.
Future integrations include NFT deflationary tokenomics, Sandbox integration and more! You can read more about the project on the website litepaper!
Krtklplz: Bittoken is the community rewards token of the Bitsquad which is “powered” by Dexkit. There is some team crossover which is why I think there is a misconception about the relationship between Dexkit and Bittoken but they are two separate projects.
Gold Rocket | Satoshi Club: By the way, Andres and I will host AMA with them.😉
Andrés M. | Satoshi Club: Yes, we are happy to know more about the whole DexKit community 💪
🤠The CrYpTo Cowboy | 🚫WILL NEVER DM YOU FIRST🚫🤠: We will be speaking in more detail about the BITToken project on the 13th same place same time! 📺
CryptoAndres: You can see this like a Patnership or a Customer. BIITTOKEN will have their own whitelabel NFT and DEX which will be powered by DexKIT. BITTOKEN alrady got their own whitlabel aggregator. We are doing more partnership like this with others. Stay tune
Andrés M. | Satoshi Club: Are there other tokens with which you have a similar partnership?
João Campos | dexkit.com: At the moment no, but we welcome anyone to join us to build one. We are open for it
Gold Rocket | Satoshi Club: thanks for the clarification and announcement😁 Ready for the next question?
Strainz: Fire away!
CryptoAndres: Let’s move on
🤠The CrYpTo Cowboy | 🚫WILL NEVER DM YOU FIRST🚫🤠: So ready!
Q3 from Telegram User @cryptofollower
Use say you support more than 14 exchanges and limit orders. Using Dexkit’s Toolkit can I join the IDO’s on decentralized exchanges? Assuming there is an IDO on Balancer. At start price always go high and I need to wait for the price to go down and check it frequently. Can I join it using dexkit with limit orders?
🤠The CrYpTo Cowboy | 🚫WILL NEVER DM YOU FIRST🚫🤠: I believe @jcampos8 could answer this one better than me
João Campos | dexkit.com: Orders are open to be filled by any source. Balancer is normally one of that sources that arbitrageurs use to fill orders, so if your order is big enough and profitable to arbitrageurs pick your order and sell/buy it on Balancer. Despite, orders being gas less to place, users spent gas to fill it. So yes, we can say that if Balancer liquidity is public you can use it to pick dips on IDO’s
Strainz: Such a great answer
Gold Rocket | Satoshi Club: Simple and elegant solution, I would say😁
João Campos | dexkit.com: DexKit right now supports all Coingecko tokens as default and search, you can add your token by address as well
Andrés M. | Satoshi Club: Great solution to increase the liquidity
🤠The CrYpTo Cowboy | 🚫WILL NEVER DM YOU FIRST🚫🤠: This is a good note. Right now on ETH, Uni is 👑. As the space grows however, 2nd and 3rd movers begin to take more of a market share. When liquidity grows throughout the space, DEXKIT will thrive even more than it does now
Gold Rocket | Satoshi Club: There is no doubt about that! 👍 Do you want to add something? Or can we jump to the next question?
🤠The CrYpTo Cowboy | 🚫WILL NEVER DM YOU FIRST🚫🤠: Shoot! 😎
Q4 from Telegram User @Antoni_azx
It was recently announced that the KITDEX exchange BETA is live, aiming to be a solution to the problem with DEX protocols like the most used one: Uniswap. But this project is using a 0x V4 technology that will solve all these problems on the trading experience, can you tell us what are the main milestones of this technology and if is it so good why no one ever used it before?
João Campos | dexkit.com: ZRX protocol is doing today around 180M in volume, ZRX V4 is the next iteration of the protocol being the most powerfull so far delivered with Limit and RFQ gas less orders highly optimized
🤠The CrYpTo Cowboy | 🚫WILL NEVER DM YOU FIRST🚫🤠: @jcampos8 is EXTREMELY knowledgeable about 0x protocol. Many people don’t fully understand what the project is doing. The short version is that they are radically taking on the problems with interoperability in defi. They are creating efficient systems for users to be able to swap tokens cross protocol and eventually cross chain. 0x’s tech is proven and 0x V4 is the MOST EFFICIENT PROTOCOL ON ETHEREUM
João Campos | dexkit.com: Main tech deliver by this new protocol is the use of Transformers, which allows DeFi legos without the need for smartcontract wallets
🤠The CrYpTo Cowboy | 🚫WILL NEVER DM YOU FIRST🚫🤠: This is something you won’t see anywhere else.
João Campos | dexkit.com: You can for instance do a swap between aDai (Dai on Aave) and cUSDC (USDC on Compound) using the best liquidity on the market
Andrés M. | Satoshi Club: Which benefits provide this protocol to your NFT market?
João Campos | dexkit.com: So this feature allows us to offer the follow swap withdraw DAI from Aave, swap DAI to USDC, supply USDC on Compound in only a transaction
🤠The CrYpTo Cowboy | 🚫WILL NEVER DM YOU FIRST🚫🤠: A HUGE limiting factor in defi is the lack of usability for the average consumer. DEXKIT is building tools that will make complex defi actions far more digestible to traditional investors
Gold Rocket | Satoshi Club: is it already working? I want to try to be honest😁
Andrés M. | Satoshi Club: Congratulation guys, you are really focused in the next generation of programming
🤠The CrYpTo Cowboy | 🚫WILL NEVER DM YOU FIRST🚫🤠: The NFT marketplace will benefit from the gas efficiency from the 0x protocol. When V4 is completely integrated, it will be the cheapest place to trade on Ethereum
João Campos | dexkit.com: For the NFT market we will be using the V3 version of it, as still yet not supported on the new version. On the NFT marketplace we will be prioritizing the easy onboard for artists sell their tokens directly on a wordpress website. You will have your own marketplace with your coin and collection as default
🤠The CrYpTo Cowboy | 🚫WILL NEVER DM YOU FIRST🚫🤠: It is endlessly customizable as well with variable fee structures, accepted currencies, as well as tons of design options
João Campos | dexkit.com: One of the main issues that artists are facing is the impersonation of collections, which we will try to solve
Andrés M. | Satoshi Club: Wow, a differentiating feature that will attract a large number of users
Gold Rocket | Satoshi Club: How will you solve this, if not a secret?
🤠The CrYpTo Cowboy | 🚫WILL NEVER DM YOU FIRST🚫🤠: We are going to be reaching out to artists and telling them about what we offer. We believe many of them will find it extremely valuable and help them to stand out in such a competitive space.
João Campos | dexkit.com: The artists could integrate their marketplace directly on their website, instead of sending it to outside apps
🤠The CrYpTo Cowboy | 🚫WILL NEVER DM YOU FIRST🚫🤠: So users will be sure that they are buying the real thing
Gold Rocket | Satoshi Club: nYes, now the wild west is going on in the NFT market. 🤠
Andrés M. | Satoshi Club: Actually our next question is about your NFT marketplace, ready?
🤠The CrYpTo Cowboy | 🚫WILL NEVER DM YOU FIRST🚫🤠: Let’s do it! 🤠
Q5 from Telegram User @AugusS7
It is true that NFT tokens have had an incredible boom, many artists have created their tokens and sold them at extremely high prices, now with Dexkit’s NFT trade, why should the creators publish and sell their tokens on DexKit instead from other platforms? just for ease of interface?
Andrés M. | Satoshi Club: Partically covered 😅
Gold Rocket | Satoshi Club: Partially answered. But I think you have something to add😉
🤠The CrYpTo Cowboy | 🚫WILL NEVER DM YOU FIRST🚫🤠: A big part of being an artist is creating an atmosphere. Artists put a lot of emotions into their work. Our platform is going to allow artists and collectors alike to display their works in an environment that is unique and welcoming to their fans. It will be more ‘curated’ than what we see currently. Integration into existing websites is a HUGE “x-factor” for this concept
Andrés M. | Satoshi Club: A lot of artists are learning about NFT to sell their art pieces at high prices and wtih low costs, is your marketplace friendly to non-crypto people? Do you have any guides for newbies who want to enter that ecosystem?
João Campos | dexkit.com: We for sure will offer tutorials and videos to explain each process of using the marketplace, it should be as easy as buy any goodies
Gold Rocket | Satoshi Club: you are planning to become the center of modern crypto art revival😁
🤠The CrYpTo Cowboy | 🚫WILL NEVER DM YOU FIRST🚫🤠: Personally I currently mint art on Rarible. It is extremely claustrophobic because there are SO MANY CREATORS on the platform! I make fairly simple pieces, nothing that would sell for Millions of 💲. Our platform will help small artists to stand out as well as providing a platform for experienced artists to shine even brighter! 💡
Andrés M. | Satoshi Club: Great news, personally I’m interested on it 😁
🤠The CrYpTo Cowboy | 🚫WILL NEVER DM YOU FIRST🚫🤠: Stay tuned for the “Trading Post” lol 🐴 NFTs should be for everyone. Not just for 🐳
Gold Rocket | Satoshi Club: Thank you very much for your answers and for what you are doing! This is incredible!🚀
Andrés M. | Satoshi Club: 👏👏 completely agree
🤠The CrYpTo Cowboy | 🚫WILL NEVER DM YOU FIRST🚫🤠: This is so much fun! Love being here! 💕
Gold Rocket | Satoshi Club: We love you guys very much too ❤️
Krtklplz: This single idea is what drew me to the project to begin with… Lowering the barrier for traders, for NFT artists, for buyers, sellers traders investors even communities.
🤠The CrYpTo Cowboy | 🚫WILL NEVER DM YOU FIRST🚫🤠: Put it on a T-SHIRT! 👕
Andrés M. | Satoshi Club: That’s the true freedom
Gold Rocket | Satoshi Club: I want this t-shirt too 😁
Andrés M. | Satoshi Club: Well we have the last question of the first part of the AMA, would you like to add something? 😃
🤠The CrYpTo Cowboy | 🚫WILL NEVER DM YOU FIRST🚫🤠:
🤠The CrYpTo Cowboy | 🚫WILL NEVER DM YOU FIRST🚫🤠: Just want
to shout out Crypto OG for making these!
🤠The CrYpTo Cowboy | 🚫WILL NEVER DM YOU FIRST🚫🤠: Ready for the last ❓
Gold Rocket | Satoshi Club: They are great👍😁
Andrés M. | Satoshi Club: Great design👏 we need some of them for our community 😁
Q6 from Telegram User @yellowchamp
I see in your Dswap features that we can purchase eth through Visa Card Payment with the corresponding country currency and it is the first time I see for an Decentralized exchange to have this feature. So, aside from eth do you plan to add other currency to buy thru Visa Card Payment? Is this really safe to connect our bank account in your platform? How safe our bank account in your platform? Can you tell us the pros and cons or risk in connecting our Visa Card account in Dexkit swap? Thank you
🤠The CrYpTo Cowboy | 🚫WILL NEVER DM YOU FIRST🚫🤠: So the “Buy Fiat” option is facilitated through the Transak App. Users can purchase any currencies that they support through our platform
João Campos | dexkit.com: On the DEX, you are able to buy directly any token that is supported by FIAT, besides ETH, we use Transak as our provider which is a Consensys backed company
Andrés M. | Satoshi Club: Thank you so much for your amazing an clear questions, I think our community enjoyed the first part as much as I do💪
Andrés M. | Satoshi Club:
Now is time for the second part of the AMA
Part 2 — live questions from the Telegram community
Q1 from Telegram User @Wormz28
💚 Just recently, The DEXKIT team proudly announced the release of your KITDEX BETA Exchange. So what makes the KITDEX so magical and unique from other exchanges out there? Also what versions of the app is now available at the moment?
@Cryptojohnnyb @CryptoAndres @jcampos8 @Krtklplz @Strainz
Krtklplz: Currently the App is in Beta release. What makes the DEX so amazing to me as a trader and a trading instructor/mentor in the space is the fact that smaller traders and investors can enter the market without the worry of high gas fees.
Q2 from Telegram User @AugusS7
Detail on your website that you have a high regard for the Satoshi community, which is Great, last year we enjoyed an AMA in November, and today and on 03/13 we will have more with you, but you really believe that Satoshi Club can play an important role in the success of Dexkit and in each of its updates? but how do you really see this community?
🤠The CrYpTo Cowboy | 🚫WILL NEVER DM YOU FIRST🚫🤠: I like this question, because I believe in the power of community. Projects need strong communities to be successful. Satoshi Club has gained a large following and maintain a very positive reputation. We Love our community and we want to welcome as many people as possible to experience our apps and benefit from what we are creating! #KITcrew 💪
Q3 from Telegram User @meml97
🧨 I noticed on your roadmap that on Q3 2021 you have “Add Multicurrency Support”, could you please tell us more about this point? What kind of multicurrency support do you exactly want to add to DexKit, when will we know more about it and why will you wait until Q3 to add it to your platform when multicurrency is a really important thing for users right now?
João Campos | dexkit.com: Multichain support is becoming a top priority asides the NFT, we on our last community live updates we discussed about adding Binance Smart Chain to our current Swap interface. Other chains like Avalanche, or L2 like Polygon are investigated. We definitely want to do it before stated on roadmap, our apps are being prepared to easily extend it to these other chains. Regarding token, we look at use bridges to don’t have a need to increase supply but maintain at current supply across all different chains
Q4 from Telegram User @smelekin
Last year we have seen many projects made a good startup but suddenly abandoned the project because they didn’t get enough profit from project. How can we be sure that you won’t abandon the project even the profit is low at start?
🤠The CrYpTo Cowboy | 🚫WILL NEVER DM YOU FIRST🚫🤠: We are COMMITTED to long term success. We give regular community updates on our YouTube channel (https://www.youtube.com/watch?v=LetomEEeXJc&t=960s) bi-weekly on Fridays at 22:00 UTC. We have regular promotions on social media and we take our responsibility as the team very seriously. We know that people have a choice in how they invest their hard earned ETH, and we KNOW that with our transparency, regular updates, and valuable tools we will be successful long term
Also every comment on each livestream is entered to win 30 KIT on the following livestream!
Q5 from Telegram User @alaskasb
You mention that the KIT token is also used as a vehicle for governance in the DEXKIT ecosystem. Could you explain to me how this token also has this incredible function and how it will allow users to send proposals and vote for features or changes in the platform?
João Campos | dexkit.com: Governance will be available on Dashboard that is still being built. The aim is create an easy way to community members present proposals outside of current roadmap and get it prioritize if that’s what the majority wants, we at the moment are following roadmap, but then to drive project aligned with community best interests, we will be creating a roadmap based on governance proposals to align incentives of token holdes with the team vision
Q6 from Telegram User @JoxesXIII
The representation of real assets through NFTs is something spectacular, however some think that some regulation is necessary, what do you think about the role of real assets on blockchain?
Strainz: We love the idea of real assets on the Blockchain. When it comes to development and our NFT platform we will be focusing on digital assets as that’s where the minds eye of the masses is and where we need to focus on improving the most. Great question!
Q7 from Telegram User @meml97
🧨 According to one of your latest articles 0x right know is the most efficient DEX Protocol on the Ethereum network, and as we know 0x is the engine that powers the DEXKIT toolKIT, so could you tell us how will this be benefitial not only for DEXKIT ToolKIT, but for all the DEXKIT ecosystem and for its users? With the most efficient DEX Protocol by your side what should we expect from DEXKIT?
🤠The CrYpTo Cowboy | 🚫WILL NEVER DM YOU FIRST🚫🤠: 0x is a HIGHLY UNDERRATED project that is the foundation of what we are building. The gas-efficiency that comes from using 0x routing technology is the best in the space. We know that people are tired of paying high fees, and DEXKIT is working to streamline, simplify, and increase profitability for experienced and new users. Our YouTube channel (https://www.youtube.com/channel/UC1R-ZwZQPP_C0sauNPmcX9A) will be a platform where users can learn more about using our apps as well as become more savvy about how Defi works. We are proud of what we are building and we know that the space will benefit from what we are building.
Q8 from Telegram User @Robotliker1
@Cryptojohnnyb @CryptoAndres @jcampos8 @Krtklplz @Strainz
I felt difficult using DexKit and placing orders,For a beginner do you have any guide or tutorial video to use Dexkit and how it works?
João Campos | dexkit.com: DexKit exchange is intended for advanced users place limit orders and it follows an User interface similar to Coinbase Pro for that reason. We intend to release several videos how to use the exchange for beginners and pro traders, some difficulties for onboarding are more related to how decentralized exchanges works, like the need to approve each transaction and wait to ethereum network confirm, and the need to use wrapped ETH. But as long you have all the approve, placing limit orders are as easy as place limit orders on Coinbase pro
Q9 from Telegram User @BlancaSdF
DEXs are currently full of scams from fake tokens to worthless NFTs, how do you deal with this situation, do you have any curation or whitelist in mind for this?
João Campos | dexkit.com: Our NFT marketplace with wordpress integration is used to fight the NFT scam part. Regarding scam tokens, we are using the Coingecko list of tokens and we allow people to add tokens by contract address, as best pratice is always recommend on Coingecko and Coinmarketcap if the token is legit and not a duplicated scam. We on the UI we give these information, if token is on Coingecko and their link, and as well a project address and description on the question mark
Q10 from Telegram User @csgonub
Dexkit is still in test phase so when will you start the mainnet?
DexKit Aggregator and KIT token itself are both fully functioning and operational. The KITDEX is in Beta and NFT marketplace is in demo mode. You can test out the functionality of the Exchange and NFT Marketplace here
👉 Exchange BETA: https://beta.exchange.dexkit.com/#/tr…
👉 DSwap Aggregator: https://swap.dexkit.com/#/swap 👈
👉 NFT DEMO (NEW): https://demo.nft.dexkit.com/#/marketp…
👉 Dashboard DEMO: https://demo.dashboard.dexkit.com/das… 👈
👉 Twitter: https://twitter.com/dexkit 👈
👉 Facebook: https://www.facebook.com/dexkitcom 👈
👉 Github: https://github.com/dexkit 👈
👉 Reddit: https://www.reddit.com/r/Dexkit 👈