AMA with Dino Exchange
Welcome to the recap of our AMA with Dino Exchange!
Our vibrant and enthusiastic community had a lot of questions to ask. To those who want to know quickly what Dino Exchange is about, we are sure this recap is gonna help you. So without further ado, continue reading.
Introduction with Dino Exchange
Q1. Can you please tell us firstly why Dino Exchange when so many Exchanges are already in place ?
Dino.Exchange is an automated market-making (AMM) decentralized exchange (DEX) running on Binance Smart Chain with a lot of features that let you earn tokens by yield farming or playing games on our platform.
We want to create an environment where people can do yield farming with sustainably high APR.
Actually when we developed the product, it was around 3 months ago, there are not many AMM DEX on BSC. We also see that there are many problems from the market that our competitors won’t be able to solve that we can. We will keep building.
Q2. Can you talk a bit about the User Experience in your Exchange and why people should be excited about moving there?
We designed and developed the platform so it can be as easy as possible for any traders, with or without crypto trading experiences, can use it. Simple, easy and efficient, coming to our platform, users can do all the things they want easily.
Q3. On your way to achieving your goals, what is the biggest obstacle you faced and what is the most significant milestone you achieved?
We actually don’t have many technical problems with the development of the product and the platform. We are improving it day by day very smoothly, that is also our significant milestones we’ve achieved. There may be a problem that we meet when we’re trying to gain more exposure to the public, to get more people to know about us. We are carrying out many marketing plans to gain more exposure, one of that is to do AMAs with big crypto community.
Q4. What further plans in the pipeline for Dino Exchange?
This is our road map, you can take a look at the graphic below:
Community ask Questions by Twitter
1- At DinoExchange, Liquidity mining is the best way to generate passive income, is mining the main focus? what are your plans for the future? Does your trade have good potential going forward?
Both of our liquidity mining and trading have very good potential going forward. We are planning to integrate more advanced tech to these 2 core features of our platform. We will share more info about this in a near future.
2- Why did Dino Exchange activate Cross-Chain Swap on Dino DEX, what is your goal of using this method then what are the functions and benefits for its users?
Our goal is to draw more and more users from other chains to our platform. With more users, liquidity will be much bigger, and $DINO token will also be more valuable.
By the way, our whitelist is in progress, make sure you join it for potential multiple: https://twitter.com/dinoexchange/status/1381910867730595842?s=20
Tuned in for whitelist results and updates: twitter.com/dinoexchange & t.me/dinoexchange “
3- I’ve read that you will soon launch your first product: AMM Dex- the always available AMM Decentralized Exchange for the $DINO token. Can you further explain more about this and why did you prefer that the prices is set by a preset formula rather than an order book?
AMM is the future banking and is always far more superior than traditional exchange. Crypto assets will be traded in a permissionless and automatic way, rather than a traditional market of buyers and sellers.
Community ask question by Website
Website question no 1.
On Dino.Exchange we can earn tokens by playing games. So, can you give us more details about this? How many games will you have available and how many tokens can we earn per game and entry? Can anyone on your platform play them?
Telegram Username: @meml97
Our games are Provably-fair games run on top of the DeFi ecosystem, such as lottery, dice, and more. Each game will have a unique mechanism to lock/burn DINO tokens to reduce the circulating token supply.
Any DINO holders can play them.
Website question no 2.
They mention that Dino Exchange will develop different functions in a short time, but how do you really know that if they created those functions and that DINO would stay in time, and not that after the IDO it would pull the rug?
Telegram Username: @Gutike95
We follow a proven and established convention for token locking. All tokens under a vesting schedule will be stored in timelock contracts. This brings the utmost level of financial security for the project.
We are also working with giants in smart contract auditing, their results will ensure our security. We will also soon announce our strategic partnerships. No big names want to partner with rugpull project, don’t they?
Website question no 3.
For any AMM it is important to attract liquidity and create a large pool, the more liquidity there is in the pool, the less slippage the large orders will have and this will increase the volume, how does DinoExchange plan to attract enough liquidity to counteract order slippage? How will you incentivize users to provide liquidity ?
Telegram Username: @BeaEvolet
We will add initial liquidity to the platform as mentioned in tokenomics. We will also launch farming very soon when traders can contribute their liquidity in exchange of interest in form of LP tokens. Lots of partnerships have lined to so we can provide exclusive farming pools with very tasty APR.
Telegram live Questions answered by Dino Exchange
Q1 from Minh Duy:
The burning of tokens makes tokens rare. DOES DinoExchange burn tokens to stabilize the prize and create a limited supply with high demand?
Yes. We have a buy back and burning mechanism that are in development phase. This will boost the value of DINO token. We’ll announce more about this soon. Make sure to tune in for further updates at @dinoexchange. Twitter.com/dinoexchange
Q2 from Camilla Kerluke:
On this year as I see so many projects born with exchange feature. And all of them will be usually release farming, staking, exchange, pool, and etc. Now what i am asking, what different your project betwen all old swap project until now ?
We have many more features besides that. namely:
A statistical automatic analysis system that assists users in capturing market information.
All in one — an asset management portal for decentralized finance (Defi) on BSC. Users can log in with their wallets and see all their assets in one place, as well as simple interfaces for making further investments — in yield farming, liquidity mining, or simply diversifying their token holdings.
Provably-fair games run on top of the DeFi ecosystem, such as lottery, dice, and more.
Each game will have a unique mechanism to lock/burn DINO tokens to reduce the circulating token supply.
Binary Option Trading
The first decentralized binary option, in which the platform plays a neutral role. A portion of trading fee will be used to burn and buyback tokens.
Offering the Limit Order functionality for all the DinoExchange users on the platform. It will allow users to fully control their order by buying and selling at a specified price.
Leveraged and margin trading, also on top of the decentralized order book exchange.
Fully functional and responsive mobile DApp for both Android and iOS to ensure 24/7 access to the DinoExchange ecosystem.
Integrating the DINO token into payment gateways on iOS and Android for users to make rapid and convenient purchases
Cross-chain swap on DinoExchange DEX allows users to swap their cryptocurrencies across popular blockchains, without having to switch between platforms.
Q3 from Lucky Crypto:
Nowadays the mobile dApp is a common feature in every exchange platform, Do you have any future plan for the development of and dApp in your platform? If so, when will you think it will be launched?
Yes this is already in our road map. dApp is currently in the building phase. It will be released this year on iOs and Android
Q4 from ᒍᑌᗩᑎ ᔕᗩᑎᗪOᐯᗩᒪ:
In the last objective, your roadmap, I could see that you will implement a Payment Gateway for both IOS and Android. Do you mean that the DINO token will be used in the future for users to buy what they need in their day to day life thanks to this payment gateway? Will you partner with some brands for this?
Yes you’re right, that’s what we are aiming for, a practical and valuable use of crypto into real life. Our dApp and payment gateway are developed to do that