AMA with Position Exchange

Introduction with Position Exchange

Celeb | Decentralized Club:
Introduction questions

Q1. Can you start us off with how Position Exchange is a better platform for traders, LPs etc. ?

James:
Recently, many Decentralized Exchanges have been developed, such as Uniswap, PancakeSwap. However, there is still a lack of Decentralized Trading platforms that bring on-chain Derivatives Trading with the same experience and all the advantages of a Centralized Exchange like liquidity, UI-UX, Limit Order...

With Position Exchange Protocol, users can:

- Trade Derivatives Product fully on-chain trustless, transparently, with high security, and privacy.
- Easy to use: bringing the same user interface as the Centralized Exchanges + Mobile App for trading everywhere.
- Based on Binance Smart Chain initially, then Position Exchange will go cross-chain to reduce the transaction fees.
- Using the vAMM to solve the liquidity problems and will bring Limit Order by applying the Uniswap V3 ticks concept.

Moreover we are having one of the highest APY in the DeFi space and 80% of the tokens that will belong to the community will be minted through rewards in staking and farming pools.

Much more to discover in our Website about the other existing and upcoming features.

Celeb | Decentralized Club:
Your apy looks succulent

Q2. Can you tell us about Position Exchange NFTs ?

James:
Position Exchange is introducing NFTs as one of the major features of the platform.
Users can mint NFTs with unique characteristics and different rarities by depositing POSI tokens then stake it in the NFT Pools to generate rewards. Issue, trade NFTs and participate in auctions.

Our NFT APY is the highest currently in BSC

You can find more details about our NFTs in:
https://docs.position.exchange/products/nfts

Celeb | Decentralized Club:
Staking nfts for rewards

Celeb | Decentralized Club:
Can nfts from other sources be staked on position exchange or only nfts orginally originating from postion exchange

James:
Only NFTs casted through our Platform using POSI

https://docs.position.exchange/products/nfts/how-to-stake-nfts

Celeb | Decentralized Club:
Would need to read up on thos after the ama

Q3. How can we acquire $POSI token and how will its holders be rewarded?

James:
You can buy POSI in our website : https://app.position.exchange/swap or in Pacakeswap. POSI holders can benefit for the different use case of the Token.

They can stake & farm with a high APY, cast NFTs, and participate in the governance as holders will decide the future development of Position Exchange through our DAO interface. Holders voting power depends on the amounts held.

More over POSI holders will benefit from RFI technology that allow 1% of the transactions fees to be shared proportionally to their wallet. Just HOLD and Earn

Celeb | Decentralized Club:
Is there is a buyback and token burn possibility to reduce scarcity and increase price and reduce supply

James:
We are implementing a unique buy back and burn mechanism as we will use 100% of derivatives trading protocol fees to buy back and burn POSI. This will participate to maintain POSI stability and control the circulating supply of POSI

Remember, 100% of the protocol revenue for the buy back and burn!

Celeb | Decentralized Club:
Great to note

Lets go to the last question for the session

Q4. Can you tell us about what are you guys focusing on delivering further in this year ?

James:
Our main feature which the decentralized derivatives trading will be available this month along with a Vault feature that allow in one click to buy, farm and compound rewards.

We are developing our Mobile App that you can trade anywhere at anytime. Listings in Major Exchanges are to come in November.

90% of the target investors of Position Exchange are yet to join once the on-chain derivatives trading is operating.

Community ask questions from Twitter

Celeb | Decentralized Club:
Twitter questions
1. what measures have you put in place to like you said increase your popularity globally to be able to meet your quota the five million users by the end of this year?

Twitter question from
@stephen_hawk3

James:
Position Exchange has been in development since February 2021. The platform was public a month ago and started to gather a good community around. The features will be developed step by step following a meticulously planned schedule.

We are conducting a huge marketing campaign that goes with the project ambitions and expectations in all social media, through influencers and partnerships. The listings in Major Exchanges will be the main incentive for millions of users to join as we are offering something unique in BSC which the on-chain derivatives trading. This will attract lot of CEX users that might be interested to switch to DeFi and keeping the same advantages of CeFI.

Celeb | Decentralized Club:
2. My question comes from your staking mechanism, what is the RFI technology position exchange is implementing? Also what does it mean to stake 'indirectly'

Twitter question from @Xa3yte

James:
The process of staking consist on providing LPs in farms or depositing the token in classic pools to generate rewards. POSI tokens is minted through this process.

Celeb | Decentralized Club:
Alright

Can we move on

James:
For the RFI Technology, as I mentioned before, it allows 1% of the transactions fees will be redistributed to holders proportionally to the amount they hold

Celeb | Decentralized Club:
3. Can you explain what you mean by
" POSI By the Community, For the Community" as seen on your website.

Twitter question from @Josephayoola19

James:
The community is everything for Position Exchange. This is a project that will be 100% governed by the community as the governance of the project is transferred to POSI holders. As mentioned earlier the POSI token is now fully controlled by the community and the team members have no access to it without the consent of the holders.

This shows how much the community is important for us and for this project. Not to forget that, every POSI holder is a stakeholder because the Position Exchange Protocol distributes 100% of the revenues to holders.

Adding to that, 80% of the tokens will be reserved for the community! Our slogan says it all: BY THE COMMUNITY, FOR THE COMMUNITY, TOGETHER WE ARE STRONGER!

Community ask questions from Website

Celeb | Decentralized Club:
Website questions
1. I got a bit confused going through your referral system, because it says the referral system platform allows one to You can keep track of your referrals' rewards and provides an easy look and access to the details of referral rewards.
Then again written in bold it says "Note that you can see your referred users only once they connect their wallet and accept your referral"
Can you please clarify this??

Telegram username @Kaptinblack

James:
This is quite normal as your referral should click on the your link and connect his wallet first. This is how your referral link could be linked to your referral users. Moreover, you only collet your 5% reward when your referral user stake and harvest. By then you can keep track of any registered referral

Celeb | Decentralized Club:
Noted

2.Considering the fact that the information on Position exchange referral system document was last updated a month ago, what's the update on the Exchange sector of the referral system which says 'coming soon' ?

Telegram username @BR1TE

Prepare your questions guys for live session

James:
I couldn't understand the meaning of the question

The Referral system is updated and any further updates will be communicated through our official channels :)

Celeb | Decentralized Club:
Last question for the segment

3.What is the connection or link between Position exchange and derivatives trading protocol, and what is the update regarding the pending Certik audit I see on your website?

Telegram username @Hawke_S

James:
Position Exchange is a Decentralized Derivatives trading protocol where you can trade futures contract on crypto-assets fully on-chain. We are not a decentralized exchange but a Decentralized protocol with a whole Ecosystem and POSI as a real utility Toke.

Live Questions answered by Position Exchange

1)Femi Oyinloye:
Please do you have guides for using Position Exchange features like

1. ​How to Trade/farm
2. How to add/remove Liquidity?

James:
https://docs.position.exchange/products/farming/how-to-use-farms

2)Motigut10:
Q)Is there any kyc requirements to play and will you support in a global level or are there any sorts of restriction to use your platform??

James:
We are operating in BSC which means fully on-chain. No KYC required and will never be required as we are a Decentralized protocol.

3)Xuthus Xuan ✅:
Q)Has your project been audited? how about the system, is your project safe from hacker and cheater?

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 just conducted an Audit with Certik: https://www.certik.org/projects/positionexchange you guys can go check it.
We will also implement a bug bounty program for the community to participate in Position Exchange security.
Note that: 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.

The POSI token is officially fully controlled by the Community.

4)Dan:
💥💥💥💥💥💥💫

Does this project have local communities that are non English speaking communities around the globe

Can you kindly provide all your links for more research and for update sake ?

James:
https://t.me/PositionExchange/624923

You can find the links to all our Social Media, Website and Partnerships in : https://linktr.ee/PositionExchange