AMA Recap Cryptoscreen With Position Exchange

On 01 February 2022, Position Exchange conducted an AMA in the Cryptoscreen Community. Our guest is the MJ and James of Position Exchange.

Lots of questions as usual from the Community about Position Exchange progress. The Position Exchange team took part in a very interesting AMA session which included introductions, questions from twitter, and a live AMA session with the Cryptoscreen community. If you missed the AMA in person, read this recap for a deeper insight into Position Exchange.

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

 

INTRODUCTION

Idal Vernando :
Okay, Before I start the first session can you introduce yourself to our community? @JamesPosition @MJ_Position

James :
Sure, This is James, one of the co-founders of Position Exchange, a new Decentralized Trading protocol operating fully on BSC. We are based in Singapore, The team members and collaborators behind the project are multidisciplinary and have extensive experience in Programming, Smart contract & Blockchain, Finance, Trading and Crypto industries along with a high understanding of economic conditions.

MJ :
I’m MJ, Marketing and Partnership Manager at Position Exchange. Graduated from Berkeley in DBA and having almost 7 years experience in DeFi and crypto space.

James :
That was a brief introduction for the team behind the project and myself

Idal Vernando :
Nice background
Your experince will certainly motivate us in the future😊

James :
Thank you

Idal Vernando :
Okay, In the first session I will give questions about Position Exchange, if you have given an answer please say “Done” @MJ_Position @JamesPosition

James :
Sure, understood

Idal Vernando :
Let’s start with the first question

Q1. Can you tell the members a little about Position Exchange?

James :
Position Exchange is a Decentralized Trading Protocol, powered by an on-chain orderbook and operating fully on BSC. The protocol offers easy and accessible Derivatives Trading in which users can trade Crypto Derivatives Products fully on-chain transparently, with high security and privacy.

Unlike in Traditional Derivatives Trading, in on-chain trading, there is no broker required. Instead, settlement automatically takes place on-chain, where the terms of the smart contract are fulfilled. The intersection of DeFi and derivatives is a gamechanger, bringing yet another borderless, low-barrier, financial instrument to the world.

Our platform is designed to deliver all the advantages of Decentralized Finance whilst bringing the traditional Centralized Finance experience and tools onboard. To mention High leverage, low slippage, and low costs as well as limit orders all while solving the liquidity issue using a fully on-chain orderbook.

Idal Vernando :
Perfect ! Thank you🙏

Q2. Can you explain how Position Exchange and what kind of services it offers to users?

James :
The core feature of Position Exchange is the Derivatives Trading Protocol, which will offer on-chain perpetual futures Trading on Binance Smart Chain and the mainnet will launch in the coming months. Along with it, we are creating our own Exchange which will be a Cross-chain Swap and an aggregator, we are also known for Yield Farming, Vaults, NFTs Casting & Staking with an exclusively high APY.

Position Exchange is trying to create its own Ecosystem allowing users of all interests to use the platform and be a part of the POSI community.

Currently we are in the launch of one of the first Derivatives products of our protocol which is the Position Bonds that we invite you to check through our dedicated platform in the website:https://app.position.exchange/bonds

Currently, we are running a significant marketing campaign for the purpose among which Press releases with many renowned Press media agency : https://cointelegraph.com/press-releases/position-bonds-crypto-bonds-powered-by-smart-contracts

Idal Vernando :
Q3. What is the vision and mission of your project in the future?

James :
Our Vision is to build the most decentralized and community driven platform in the DeFi industry, where every single user plays an important part in decisional process by having an effective role in defining and shaping Position Exchange and its future development.

Decentralized cryptocurrency exchanges offer many advantages,including anonymity and peer-to-peer transactions. But many are complex to use and hampered by low transaction volumes. As a result,clients looking for liquidity and simplicity are often forced to turn to centralized platforms that lack proper authorization and suffer from inconvenient registration processes.

Position Exchange main mission is to provide a solution to all that,along with a set of great features and products and aims to become the decentralized exchange and trading platform of choice.

You can check the project white paper for more insights: https://position.exchange/whitepaper.pdf

Idal Vernando :
Noted guys

Q4. How do you solve liquidity issues and how to ensure user asset security?

James :
We understand that security is the main priority and most important concern in the DeFi industry. We do not want to put user’s funds at risk. We have conducted an Audit with Certik: https://www.certik.org/projects/positionexchange
We will also implement a bug bounty program for the community to participate in Position Exchange security.

Our project is fully governed by the community, we have successfully transferred the owner contract of Position Token and Treasury to a Governor + Timelock contract. Every request to change the major components of the smart contract will require the approval of the POSI holders. All processes will take about 48 hours to be completed.

James :
In Position Exchange fully on-chain derivatives trading protocol, the innovative on-chain orderbook will solve the liquidity issue. The Team has provided Liquidity at the project launch which is locked for 5 Years to ensure the sustainability of the trade and investors.

The Team Tokens are also locked for a period of 2 years which guarantees the long term commitment of the Team in the project.

Idal Vernando ;
Okay this is last question in segmen 1

Q5. Have you met all your goals in the roadmap till now? And were there any difficulties that you didn’t expect and were not prepared for?

James :
We believe that we have come so far with the project since the start and that we have achieved great millstones since the beginning of the project. The project roadmap have been updated according to some positive developments of the project and improvements are still ongoing day by day. We have a detailed and defined roadmap currently that we are following carefully : https://docs.position.exchange/roadmap/position-exchange-and-development-plan

As any other Crypto project, we are facing the same challenges related the market structure, movements and reactions. This is a % community driven project with a fully on-chain governance that allows holders to shape and decide any future change in the project structure.

The key is adaptation and having a clear goal, vision and the means of your ambitions. We believe that we have it all in Position Exchange.

Idal Vernando :
Okay, we move on to the second session, which is a question from Twitter😊

James :
Sure

QUESTION FROM TWITTER

Idal Vernando :
Q1. What achievements have been obtained during the project? are there any unfulfilled achievements in the past year?
@Pemburu22825349

James :
The first phase of the project which included, DEX, Swap Farms, Pools, Nfts, Governance, Referral and Derivatives Trading Testnet is fully operational since few months. In terms of figures i think that the project can state of the achievement that you can check on our website or CMC : https://app.position.exchange/
or CMC : https://coinmarketcap.com/currencies/position-exchange/markets/

There were some delays related the release of the DTP mainnet but it was mainly due a structural changes in the smart contract that required and involved the approval of the community.

Idal Vernando :
Wow that’s Good sir

Q2. Your project name seems to be very interesting. Does it have any story behind it? Can you share us with the inspiron for approaching to this name?
@Bergiend6

James :
The name Position Exchange was chosen to represent the core feature and goal of the platform, which is to provide and make accessible Trading, especially Decentralized Derivatives Trading, to everyone through exchanging trading positions fully on-chain and with transparency and without any restrictions.

The story behind the project comes from this willingness to create the most decentralized and 100% community driven protocol in the crypto space!

Idal Vernando :
Q3. What are the steps to become a part of your community, and start getting revenues? Where do we buy, where do we sign up? This looks like an amazing project??
@Alvin_Zaen928

James :
Easy one ✌️https://app.position.exchange/swap

To learn more about the project: https://docs.position.exchange/

For any assistance: https://t.me/PositionExchange

Welcome to #POSIfamily

Idal Vernando :
Q4. Marketing is a central element for every project, so that everyone knows the potential that a project can bring is vital to achieve the goals set. What is your strategy to attract new users and Investor to Your platform and keep them long term?
@geddanggu58

James :
We have been working on intensive and targeted marketing campaigns since the beginning. Please check our social media pages in:https://t.co/tAuEJJe5nq to get a clearer idea about the daily marketing activities of the project.

We can go as big as that: https://t.me/PositionAnn/1027 😎😉

Idal Vernando :
This is last question in segmen 2

Q5. Do you have a user or ambassador referral program that we can use to bring in new users? What are the ways in which your project generates revenue/revenue, and what is the “Revenue Model”? How can it help investors and you project in the current situation? thank you
@viksion_91728

James :
We are having a special referral program endorsed to our website to incentivize the community participation in the global communication process.

Position Exchange is offering a passive income through staking pool, farms and NFTs with the one of the highest APY ever seen in the DeFi.

Currently and the market situation, we are offering a new opportunity to our long term investors to get a stable and considerably high income through our newly launched bonds feature that we invite you check on : https://app.position.exchange/bonds

LIVE/FREE QUESTION

Q1. Are you a global project or local project? At present, which market are you focus on, or is it focused on building and growing to gain customers, users and partners?

James :

Position Exchange is global project with 17 regional communities in local languages around the world. Please join our main telegram channel for details about the current local communities!

Q2. Trust is very important in any business? WHAT makes investors. customer and users feel safe when working with your project❓লকল

James :

Position Exchange is fully on-chain and 100% community driven project. Any changes related to the structure or the smart contract of the project are voted by holders through our dedicated Governance platform in the website!

Q3. Security is the most important, thing to consider want starting, up a project how secured, is this project for users?

James :

Yes, we have conducted audits for our smart contract with Certik. Moreover we are having an internal team of security experts and advisors that assists the dev team on their security processes.

Q4. Collaborations and partnerships are some of the most important cornerstones to help improve adoption. Can you tell us about Position current partners, plans for partnerships and what everybody stands to gain from these partnerships?

James :

Position Exchange is becoming a recognized project with an immense potential in the DeFi space. Building partnerships was one of our key points that leads us to penetrate the market at the quickest way. Please refer to our website home page for the exhaustive list of our Partners

 

For more information and future AMA, join our Social Media channels:

Cryptoscreen EN
Cryptoscreen PH
Cryptoscreen ID
Cryptoscreen Announcement
Cryptoscreen Twitter

More information about Position Exchange

Website

Twitter 

Medium 

Telegram 

Github

Reddit

THANK YOU.

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