AMA with Hyperdex
On the 15th of March, 2022 at 14:00 UTC, Decentralized Club had the honor of hosting Focus Yam from HyperDEX for an Ask-Me-Anything session on their Telegram page with a community of over 70,000 people. It was hosted by DC Admin, May.
The session was divided into three segments. Introductions were made in Segment 1, questions from the Twitter community were answered in Segment 2, and live questions from the community members in attendance were answered in Segment 3.
If you missed this event and would like to know what HyperDEX is all about, you can find a recap of the interview here. Information here should be researched and should not be taken as investment or financial advice. Also note that slight edits have been made for clarity, and links in this recap lead to images, documents, or other media.
Segment 1 - Introduction
[May]
Hello, 大家好, नमस्ते, Selamat!
My name is May and I'll be hosting the AMA with HyperDEX.
Today, we have with us a guest from the HyperDEX Team.
[Focus Yam]
Hello Everyone!!!
[May]
https://t.me/decentralized_club/755978
[May]
You're welcome to the Đecentralized Člub and it's an honor to have you here.
How's your day going?
[Focus Yam]
Thanks for having me! I am having a Hyper Day!
Wish you guys having a Hyper day like us!
[May]
Yes! We are as well!
Could you please introduce yourself to our community and tell us your role at HyperDEX?
[Focus Yam]
Yes, it’s a pleasure to be here introducing our project. I am Focus, one of the team’s marketing management people for the HyperDex ecosystem. Here is a bit of my background: I was and still am managing Crypto Mining in Asia and North America. The way I joined the crypto journey, in 2017, was by running an Ethereum mining company that is to this date still running and very successful. Now I am in charge of HyperDex Defi marketing management as well!
[May]
Impressive introduction! 👏🏻👏🏻👏🏻
Looking forward to learning all about HyperDEX today!
[Focus Yam]
I can't wait too
Let's go
[May]
Can you tell us the inspiration that created HyperDEX and what the project is about?
[Focus Yam]
Well! Let me introduce myself In a nutshell: HyperDex Finance is a DeFi asset management platform that makes crypto investing and trading super simple and easy.
For more detail: HyperDex simplifies complex investment types and offers them to users in the form of investment ‘Cubes’. There are currently four: Fixed Income Cubes, Algo Trading Cubes, Race Trading Cubes, and Modular Cubes.
Fixed Income Cubes offer a fixed return over a certain period
Algo Trading Cubes are based on our statistical arbitrage trading algorithms and give a variable return over a certain time.
Race Trading Cubes are a simplified version of crypto futures / perpetual contracts, enabling anyone to easily speculate on the price of crypto with certain amounts of leverage
Modular Cubes enable anyone to create and deploy their own trading strategies for others to invest in - all without prior coding experience!
There are other features too such as our farm, swap, referral program, and more. But for the sake of time I suggest taking a look at our wiki or other documentation - you won't be disappointed!
[May]
https://t.me/decentralized_club/755996
Can you tell us what innovative solution HyperDEX Finance is bringing to DeFi in cryptocurrency?
[Focus Yam]
Yes, of course! The HyperDex group has an extensive background within the financial industry, including well over a decade of experience. Initially, we developed proprietary trading algorithms based on statistical arbitrage that was used within the Forex market.
Soon after, it was concluded we could use these same algorithms within the crypto market - and so we did.
Starting in 2016, our team also began involved with crypto mining in Canada using green energy (Hydro Quebec). This combined with building proprietary trading algorithms has resulted in our group gaining a vast amount of blockchain-related knowledge as well as experience with programming languages such as Solidity, Python, C++, and React.
From here, we were able to better understand the functionalities and opportunities within the DeFi sector.
After several months of programming, we finished the creation of one of the first ‘DeFi Asset Management’ platforms. The platform offers simplified investment types in the form of so-called ‘Cubes’. Cubes are simply containerized investment strategies hosted on a public blockchain.
This was the inception of HyperDex.
[May]
This is awesome!
Can you briefly talk about the features of your DeFi asset management platform?
[Focus Yam]
Yes, Yes we have our Hyper (HYP) token as mentioned before, but can elaborate on some other points!
HYP tokens have the main utility of distributing Tesseract governance tokens to holders of each snapshot later on as well as creating HyperCubes.
HyperCubes, very simply, increase an investor’s overall Cube returns by depositing HYP tokens in addition to their original Cube investment (fixed income, Algo trading, etc.).
Fixed Income Cubes offer a fixed return over a certain period
Algo Trading Cubes are based on our statistical arbitrage trading algorithms and give a variable return over a certain period.
Race Trading Cubes are a simplified version of crypto futures / perpetual contracts, enabling anyone to easily speculate on the price of crypto with certain amounts of leverage
Modular Cubes enable anyone to create and deploy their own trading strategies for others to invest in - all without prior coding experience!
[May]
👏🏻👏🏻👏🏻
How do we acquire HYP and why is it important to be held from an investment perspective?
[Focus Yam]
HYP tokens may be acquired by participating in the presale / upcoming IDO (we are aiming for around May). Alternatively, after the pre-sale and IDO, users will be able to acquire HYP tokens either from buying via a token swap or through earning them.
HYP tokens are earned from HYP fixed income cubes, HyperCube rewards, the token farm, and finally the referral program
[May]
https://t.me/decentralized_club/756013
[May]
Looking forward to the IDO!
What are the major plans on track for completion this year by HyperDEX?
[Focus Yam]
We have a busy year coming up whereby we will be launching the platform, HYP token, HyperDex NFTs, and more! Some of our key milestones are as follows:
02/22: Smart contract audits complete
03/22: HyperDex Platform Launch
06/22 Modular Cube launch
09/22: P2P & HyperDex Loan Exchange
11/22: Multi-chain Development
12/22: Voting pool system ( Governance Token and NFTs)
Other than this, we are planning a listing on the main exchanges as well as some other surprises that we cannot announce until we have confirmed them, as well as a very heavy marketing campaign that will start very shortly.
[May]
https://t.me/decentralized_club/756019
[May]
Can't wait to hear good news from your project!
It's now time to take questions from our Twitter community
[Focus Yam]
WOW!
GO!
Segment 2 - Twitter Questions
[May]
On your website you don't mention that you have done any internal or external audit of your smart contract, so can you give us details if you have done any audit before? And in case you haven't, would you plan to perform any review of your smart contract shortly?
Twitter Username: @RANI82046528
[Focus Yam]
Yes, of course, we have an audit certificate ongoing with certik, please check our project's status on the certik website: https://www.certik.com/projects/hyperdex
[May]
Good to know!
Can you give an overview of your Tokenomics and the utility of Token?
Twitter Username: @sonnic1606
[Focus Yam]
The utility of our services was thought carefully over the last years, our team has a background in traditional finance and developed proprietary statistical arbitrage trading algorithms used in the Forex market. After some time, we noticed these same algorithms applied to the crypto market trading pairs.
This was the moment we were able to better understand the opportunities along with applications of this technology. After several months of programming, we finished one of the first ‘DeFi Asset Management’ platforms.
For the detailed explanation of our tokenomics, I would advise you to check our tokenomics page: https://hyperdex.finance/docs/HyperDex_Toke
nomics.pdf
But a brief explanation about the main points. The HYP Token is a utility token in the HyperDex ecosystem that will start with the functionality of an APY % booster in the different cubes and it will then evolve to a governance token with added utilities, for example, staking and profit-sharing.
When designing the tokenomics for HYP we put a lot of thought into liquidity. Therefore, from moment 0 we will ALWAYS have a lot of liquidity, and liquidity will never be an issue.
Liquidity was a big focus because one of the main problems other projects have is that they have medium to low liquidity in comparison to their emission rate. This creates a depression on their price and the overall ecosystem then starts failing as people leave the project.
Hyperdex solves this by building the system AROUND liquidity. Making sure that our price appreciates steadily along with our emission rate.
We have done many simulations with our tokenomics team trying to find the best way to mint tokens by not impacting the price too drastically and we came up with this simulation for our token model: Mint on the reward.
This means that HYP tokens employ a unique mint on reward mechanism. Instead of constantly minting tokens to satisfy an unsustainable model, HYP tokens are only minted under certain conditions whereby a reward denominated in HYP is due.
Again check our website, and check our graph on the future of our HYP token model. It increases over time and with our model, it should never stop.
[May]
A minute for the community to read
[Focus Yam]
Yes, a bit details
[May]
Yes, it's okay 🥳
How many team members do you have? Do they have enough experience in the blockchain field? Do they have any experience on working on crypto and non-crypto projects?
Twitter Username: @RINA27296491
[Focus Yam]
Hi, happy to answer this, Including core team members (founders, devs, marketing, etc.) and partners, we have over 10+ dedicated team members determined to continue developing and building HyperDex. The team members come from Finance, Forex, And IT, This number will of course grow over time as needed.
[May]
Are you hiring? 👀
[Focus Yam]
One more, we have our core team members in the Crypto field since 2016
Welcome to join our HYPER FAMILY!
[May]
https://t.me/decentralized_club/756040
[May]
Where can I buy your tokens now, what are your current contract addresses and how can I buy them and what are the benefits?
Twitter Username: @AtikurR14699022
[Focus Yam]
Yes, you can join the pre-sale, you can find the registration link on our website under “ Private sale” or just click on the link here below:
https://hyperdex.finance/#/home
And the additional bonuses in HYP are distributed to users granted they have turned their investment Cube into a HyperCube (i.e. if they deposited additional HYP tokens alongside their original investment).
For example: if I have a 1000 USDT Fixed Income Cube investment and I deposit 500 HYP at a price of 1% (50% USDT equivalent of the original cube investment), I would earn 20% on the deposited HYP.
In addition to HyperCubes, HYP tokens may also be earned via an HYP fixed income cube, the farm, or the referral program.
[May]
https://t.me/decentralized_club/756045
[May]
Many projects promise magic but never publish any work product or prove any income in the short/long period of release. Is it like this? If not, can you tell us what makes it different from other projects? Highlight those issues.
Twitter Username: @Djsohag39
[Focus Yam]
Yes, I agree now there are so many projects in the sky! But LOOK HYPERDEX IS UNIQUE!
And Hyperdex is unique in many ways. Below we’ll cover a few of the reasons:
Firstly, our team has an extensive background in traditional finance with multiple decades of experience. This helps bridge the gap between TradFi and DeFi, which is what every early crypto investor has been waiting for.
Secondly, the platform itself was self-funded and built by us, with our token sale currently ongoing and IDO set for roughly next month. This means we will have more capital to allocate towards marketing, development, liquidity, and more to ensure a concrete foundation for token holders and investors.
Third, our HYP token features a unique, robust tokenomics that makes HYP both an attractive investment while maintaining its utility (creating HyperCubes, allocating Tesseract governance tokens, etc.). Since rewards are quoted in USD and distributed in HYP, as the price of HYP climbs in USD, less HYP is required to be minted for rewards.
Finally, one huge differentiator with HyperDex is the fact we are enabling users to easily create and deploy their own automatic trading strategies - no background coding experience needed! Other users may then invest in these strategies, with the original creator earning fees as users invest.
[May]
HYPER!!!
This is a very impressive project!
Brilliant guest as well!
[Focus Yam]
Thanks!
[May]
It's now time to take questions from our live audience 😂
[Focus Yam]
Don't stop, go!
[May]
In this 3rd segment, I will open the group for some seconds for the live community to shoot you some pressing questions.
Please pick five original questions to answer.
Try to ignore generic, vague, and copy-paste questions 😊
Everyone, please prepare your questions
Giving two minutes for this. Please type very relevant questions
[Focus Yam]
I am ready!
[May]
What's your favorite vacation location?
[Focus Yam]
Crypto Land!
[May]
Haha! Nice
Dear community, as a measure to deter bots and reward hunters, please include the phrase below in your questions so the guest can tell original questions apart!
The guest from Hyper likes Crypto Land 💰
The group will be unmuted shortly
---Chat was then opened for the live community to send in their questions---
Segment 3 - Live Questions
[May]
Dear guest, as a measure to deter bots and reward hunters, the phrase below has been included in questions so you can tell original questions apart!
The guest from Hyper likes Crypto Land 💰
Please prioritize such questions 🙂
[Rosana]
🍀As I know Hyperdex will be a multichain platform, how many chains do you currently support?
The guest from Hyper likes Crypto Land 💰
[Focus Yam]
Yes, Hyperdex will be a multichain platform, for now, all the protocols using EVM ( ethereum virtual machine), such as Avax, Fantom, oasis, etc. We are launching on the binance smart chain first, yes for now you can connect to our platform via Metamask ( with a nano ledger as well)
[Ayesha]
Would you like to share the white paper of HyperDex with us if you have any??
The guest from hyper likes crypto land!
[Focus Yam]
Here you are: https://hyperdex.finance/docs/HyperDex_Whitepaper_v1.pdf
[Taiwo Bisayo]
The guest from Hyper likes Crypto Land 💰
What are the market strategies of your project to grow your community?
[Focus Yam]
We plan to attract several institutional investors coming from traditional finance, that's where the real money is. To achieve this, our goal is to become the E-toro of Defi, where all asset managers can find on our platform the proper tool for their strategies. It goes without saying that the more users are in our ecosystem, the more hypercubes will be created, as they are a great incentive to easily double any of our product returns. By doing so, there will constantly be a tremendous push towards the upside for the rise of the HYP value!
[May]
Two more questions to go! 🥳
[Queen]
The guest from Hyper likes Crypto Land 💰
Where can I refer to the link on your Wiki Page and what type of management and team do you have with you???
[Focus Yam]
You can keep updated by entering our Website, Announcement channel, and our main channel on telegram:
https://hyperdex.finance/
https://t.me/HyperDexFinance
https://t.me/hyperdexupdate
[J Mags]
After reading your documents, I saw one feature of HyperDex which is the "Modular Cube". Can you please explain to us this feature and what is this all about? In what aspect of your project's ecosystem is the Modular Cube included?
The guest from Hyper likes Crypto Land 💰
[Focus Yam]
Modular Cubes enable anyone to create and deploy their own trading strategies for others to invest in - all without prior coding experience!
Thank you all from HYPERDEX TEAM!
[May]
Aaaaannd it's a wrap!
Any closing remarks for our community?
[Focus Yam]
That's good enough!
What a great community here!
[May]
Thank you so much for your kind words!
It was a very enlightening session and we wish HyperDEX all the best for the future.
Our warm regards to the rest of the HyperDEX team at the HQ working to make this project a success! 🥳
[Focus Yam]
Thanks, everyone!
[May]
https://t.me/decentralized_club/756195
[May]
Until next time everyone, do have a great day! 😊
The AMA with HyperDEX is now over