AMA Session with CEXISWAP— Recap
ThunderCore Host: Welcome everyone to the AMA. Hey @scottt#4095, @Cheryl Chueh#1356 great to e-meet you here on ThunderCore’s Discord channel!
CEXISWAP: Hello, ThunderCore community members. We’re so glad to share CEXISWAP’s sexy news with you tonight. Since CEXISWAP launched on ThunderCore, we’ve observed amazing growth in trading.
https://viewblock.io/thundercore/address/0x777777770b518e8181106ee8b1ad625ac0e7393c
The viewblock page for our smart contract (the lucky number 7 make it easy to remember) now has over 2000 pages! We always knew the ThunderCore community was incredible but your response to our product still surprised us. You guys are amazing!
Looking forward to this exciting Ask-Me-Anything event with the ThunderCore community.
ThunderCore Host:We’re really pleased to invite CEXISWAP to join us for this AMA. Before we begin, could you briefly let us know about your team and how long you’ve been working in the blockchain industry?
CEXISWAP: Hi guys. I’m Scott Tsai, the Co-founder, and CEO of CEXISWAP. I’m a software developer turned startup founder. I got into crypto in 2017. By 2018, I was contributing core storage and networking code version one of the ThunderCore blockchain implementation. I eventually became the Head of Chain Engineering at ThunderCore and led DeFi projects with over 100M USD in Total Value Locked assets, before founding CEXISWAP.
https://www.linkedin.com/in/scotttsai/
Besides myself, our co-founder and CMO, Cheryl Chueh is a serial entrepreneur with a background in e-commerce.
https://www.linkedin.com/in/cheryl-chueh/
Our two full-stack developers both had blockchain product development experience before joining CEXISWAP. So does our design lead.
ThunderCore Host: Thank you very much for your support, we are also very excited to have such a qualified DeFi project on ThunderCore blockchain.
Ok, now we’ll begin this AMA with a couple questions for you and your team and then follow up with 3 questions that we’ve collected from our community about CEXISWAP! Afterwards we’ll open the channel up so everyone can ask you questions about CEXISWAP and you can pick 3 questions to reply.
CEXISWAP: Can’t wait to talk to the ThunderCore community.
ThunderCore Host: There are many kinds of DeFi projects in the crypto space, could you please briefly explain your DApp to our users? And what is the benefit of using CEXISWAP compared to other DEXs & CEXs?
CEXISWAP: CEXISWAP is a decentralized multi-chain exchange that offers users the best price by bridging liquidity across DEXs and CEXs through our innovative Trade Pipe Technology (TPT).
https://docs.cexiswap.io/cexiswap/trade-pipe-technology-tpt
Super competitive prices, user-friendly trading experience, zero slippage, low gas fees, and front-run protection are among the competitive advantages of CEXISWAP.
CEXISWAP’s mission is to liberate liquidity to every corner of the blockchain world, thus addressing the most serious DeFi 2.0 problems and making the technology accessible to the crypto community. We deliver the best prices on a decentralized exchange(DEX) for all the blockchains we support.
ThunderCore Host: Can you explain the mechanism of how to get low slippage and reliable prices on CEXISWAP?
CEXISWAP: In order to solve the slippage problem and deliver the best prices on CEXISWAP, we developed our Trade Pipe Technology (TPT), which we built into our exchange to execute user orders based on the trading environment and demand.
Here is an overview of how the technology works.
Instant Trade Pipe (ITP): Distributed Request for Quote (dRFQ) with Instant Settlement
- User sends a trade request to the CEXISWAP trade oracle;
- The CEXISWAP liquidity network generates a cryptographically signed price quote;
- User sends the price quote to the CEXISWAP smart contract, settling the trade in one atomic blockchain transaction;
- CEXISWAP market makers rebalance the on-chain and off-chain liquidity periodically.
Batched Trade Pipe (BTP): Gas-Free Trading with Batched Settlement
- User approves the CEXISWAP contract to spend the tokens required for the trade;
- User submits order details to the CEXISWAP trade oracle for collection and asynchronous execution;
- The CEXISWAP liquidity network sends on-chain transactions to secure user funds and execute the trading operation;
- The CEXISWAP liquidity network sends on-chain transactions to release user funds and settle the trading.
Mechanism
- When the Destination has sufficient liquidity for the given token, CEXISWAP can perform trade with ITP. The ITP provides on-chain settlement from a distributed request for quote network.
- When the Destination lacks sufficient liquidity for the given token, CEXISWAP can perform trade by collecting requests and directing its BTP to process multiple requests at once. The BTP provides gas-free trading and potentially better prices to users (at the cost of taking more time to process and settle).
ThunderCore Host: Thank you for your responses, this is very detailed information about the mechanism of CEXISWAP.
Also I’ve heard that CEXISWAP also will issue its own token — CEXI & sCEX Tokens. Could you please tell us more about these tokens and their utility?
CEXISWAP: CEXI Tokens are utility tokens of the CEXISWAP protocol. Users can earn them through trading on CEXISWAP. And sCEX Tokens are the staked CEXI Tokens in the Staking Pool.
CEXI have the following utilities: (1) Community Voting Power (2) Staking (3) Fee discount.
- Community Voting Power: Staked CEXI (sCEX) tokens’ holders get the governance vote rights. Including determining token listing, trading free and trade-to-earn reward parameters.
- Staking: CEXI Tokens can be staked and turned into sCEX Tokens at any time. sCEX holders will receive staking rewards.
- Fee Discount: CEXI Tokens owners will have a discount for paying a protocol fee.
To bootstrap the CEXISWAP liquidity network ecosystem, CEXISWAP will share the value created by the protocol with real users and long-term supporters. Users will get the best price and own a part of CEXISWAP through the upcoming trade-to-earn feature on CEXISWAP.
ThunderCore Host: That’s really nice to hear the utility about your token.Can’t wait to earn on CEXISWAP!
All right, let’s go on to the next part!
When we announced the AMA, we also asked our community to share their questions about what they’re interested in knowing about CEXISWAP.
Here are the 3 questions we picked up from Twitter:
Twitter Q1 — @4B3ECOTM9OokGGU: The Front-run protection feature of CEXISWAP is great for users! How is its function accomplished?
CEXISWAP: CEXISWAP achieves front-run protection through our Trade Pipe Technology. The messages exchanged during the trading step are cryptographically signed and specify the beneficiary to the original user that requested the price quote on our exchange. Thus observers have no way to front-run the trade.
Twitter Q2 — @saulosantiago10: How is the exchange process between decentralized blockchain chains performed on CEXISWAP?
CEXISWAP: (Q2 is edited by CEXISWAP) To transfer funds across blockchains, CEXISWAP uses a combination of (1) Our own liquidity network (2) The official bridge for the blockchain (e.g. ThunderBridge for ThunderCore) (3) Top Decentralized Protocols (4) Top Centralized Exchanges in the process, searching for the most cost-efficient path while taking latencies into account.
Twitter Q3 — @PUmujose: What are the functions of CEXISWAP and how is it different from others staking program?
CEXISWAP: CEXISWAP’s upcoming staking program is different from other DeFi protocols that just inflate their token’s circulating supply. CEXISWAP’s Trade Pipe Technology is much more capital efficient compared to Automatic Market Makers and could produce better prices using a fraction of the liquidity. CEXISWAP’s staking program is designed to allow us to provide even better prices for users and is backed by real profits instead of inflation.
ThunderCore Host: Cool, There are lots of awesome questions on Twitter. It seems that everyone is very interested in knowing more about CEXISWAP.
Now how about let’s open the channel for a couple of minutes and everyone is welcome to ask questions about CEXISWAP and @scottt#4095, @Cheryl Chueh#1356 can choose 3 questions to reply to.
If you didn’t verify your role yet, remember to go to #✅｜start-here to ask your questions to CEXISWAP.
ThunderCore Host: I see a lot of interesting questions being asked here! @scottt#4095, @Cheryl Chueh#1356 Please take a couple minutes to choose 3 questions to answer.
Here are the 3 questions we picked up from Discord:
Discord Q1 — @IRAM : Is it possible that someday cexiswap will provide a bridge feature as well? Especially on the ThunderCore network and to other networks?
CEXISWAP: Yes, CEXISWAP does plan to integrate a bridge feature directly into our exchange. Since ThunderCore is one of our primary blockchains, we will of course support ThunderCore. This will enable swapping from and to ThunderCore and other blockchains in one simple and efficient action.
Discord Q2— @chunhocxitrum : Could you share me about swap fees and liquidation risks on cexiswap?
CEXISWAP: CEXISWAP provides lower gas fees on all supported chains, esp. on Ethereum where the fees can be substantial. We use less gas since we read and write less data on the blockchain. This is on top of the great prices we provide our users. There’s no liquidation risk on CEXISWAP.
Discord Q3 — @Akira : I’m curious about cexiswap’s function. Since I was not a trader, I tend to use DEFI to earn. One I always use named setup pool of pancake-swap which based on BSC. I want to ask if there is similar function on cexiswap or not. Or is there any else cool function on it?
CEXISWAP: CEXISWAP will enable liquidity providers to earn fees through a decentralized market maker network as well. Other cool features we will provide include: (1) trade-to-earn (2) community contributor rewards. Please follow our Twitter to get updates on these https://twitter.com/cexiswap
Thank you all ThunderCore and CEXI members for these great questions.
ThunderCore Host: Great, seems that everyone is really interested in learning about CEXISWAP. Are there any upcoming updates or roadmap that you would like to share with us on your project?
CEXISWAP: Yes, CEXISWAP’s support of the DeFi 2.0 vision is reflected in the following three phases of development:
Phase 1. Core Technology Development (completed): Build the core Trade Pipe Technology (TPT) that can liberate liquidity from separate silos in accordance with the user’s demand.
Look at Details: Trade Pipe Technology (TPT) https://docs.cexiswap.io/cexiswap/trade-pipe-technology-tpt
Phase 2. Network Buildout and Integration: Integrate CEXISWAP’s Trade Pipe Technology Network into major blockchain and DeFi projects. This will allow DeFi products to be easily accessed and traded on all chains and networks.
Phase 3. Fuel the Revolution: Create the next-generation DeFi killer app by offering high capital efficiency and mobility with the Trade Pipe Technology Network.
CEXISWAP’s core strength is our unique technology developed to help the DeFi 2.0 wave become truly groundbreaking. And CEXISWAP is now proceeding to “Phase 2. Network Buildout and Integration”.
We launched our exchange in January of 2022 and currently support five blockchains: Ethereum, Polygon, BNB Chain, ThunderCore, and Avalanche, and have cross-promotion with TT Wallet and Bitkeep wallet. More partnerships and collaborations are coming.
ThunderCore Host: We’ve really enjoyed having you here with us today @scottt#4095, @Cheryl Chueh#1356 ! At the same time we’re looking forward to seeing CEXISWAP succeed and grow the DeFi ecosystem on ThunderCore!
CEXISWAP: It’s our pleasure to be part of ThunderCore ecosystem by delivering super competitive prices without slippage and front-run risk on CEXISWAP. We are excited about the trading growth we’ve experienced on the ThunderCore chain.
CEXISWAP will grow stronger with more killer features that disrupt the problematic boundaries in the crypto space with the help of the community. We’re grateful for the amount of support we have received so far and will work tirelessly to build products, better services and indeed a brighter future in the crypto space with our users and the ThunderCore community.
ThunderCore Host: And that’s a wrap! Thank you all for joining us here today and a special thank you to @scottt#4095, @Cheryl Chueh#1356 for joining us during this AMA. At the same time, we’re looking forward to seeing features and tokens on CEXISWAP. And are excited to see your DeFi DApp CEXISWAP bring benefits to our users on ThunderCore!
CEXISWAP: Thank you all, ThunderCore members. Please follow CEXISWAP’s social network accounts to receive news and information about our upcoming trade-to-earn campaign:
For support and discussion, use our official Telegram group:
https://t.me/cexiswap_official
For a Telegram group with only trustworthy announcements and no noise, join our Telegram announcement channel:
https://t.me/cexiswap_announce
Let’s break blockchain boundaries and create boundless liquidity together!
ThunderCore Host: For those of you whose question was chosen and replied during this AMA, please DM me and provide your wallet address that supports TT on ThunderCore!
Note that if the winners don’t reply within 48 Hours, their qualifications will be canceled.
The rewards will be distributed by April 15, 2022.
*Please note that all the services mentioned above may not be available or may be subject to certain restrictions in certain countries or regions. It’s recommended to check your local regulations and be fully aware of it before participating.
About ThunderCore
ThunderCore is a secure, high-performance, EVM-compatible and eco-friendly public blockchain with its own native currency, TT. With a breakthrough consensus protocol that overcomes the scalability “trilemma” called PaLa, the ThunderCore network offers 4,000+ TPS, 1 second confirmation times, and low gas fees that cost less than a fraction of a cent, giving decentralized applications security and scalability.
Currently, ThunderCore has an international user base that spans across more than 100 countries.
Website | Twitter | Telegram | Medium | Discord | Newsletter
