Litedex Protocol AMA Transcript

” Swap, Staking, Farming, Multi-chain Bridge and Decentralized Finance features “

Stephanie (BSC.News)

Hello everyone and welcome to the AMA with LITEDEX! Today we have @The9thDefi joining us to talk about their exciting new project. Great to have you here 🙂

The 9th

Hi Stephanie. Pleasure to be here😁

Stephanie (BSC.News)

Welcome!

So to kick things off, for those who may be unfamiliar…

1. Please introduce yourself and the team behind LITEDEX.

The 9th

Hi everyone,

My Name is Andrew Suhalim. It is an honor to be able to attend AMA in BSC News.

To share a brief about myself; I graduated my studies from Australia, I have a degree in Finance & Accounting, I have run my own company since 2008 in Indonesia. We have 40 years’ worth of experience in Information Technology & Telecommunication industry.

We also have WIFI Application & software company that is listed in Indonesia stock Exchange. Our group also dealt in Crm Software Company Fintech Company.

As to my partners, we have our Chief strategic officer name Harris, he is graduated in London with a background of International Business Studies, Chief Marketing Officer name is Andra, he is Indonesian graduated yet striving in the top Media company in Indonesia.

Stephanie (BSC.News)

Well awesome! Sounds like you guys have a great team so let’s talk about the project itself

2. What is LITEDEX and what’s the vision and mission of your team?

The 9th

We are Litedex Protocol, Our Vision is

‘The Bridge of Metaverse Wealth’

We are a Decentralized finance & Meta Finance, Cross & Multi Blockchain system integrator. We also provide our own Decentralized exchange products such as Swap, Liquidity, Staking, Farming, Lending, Borrowing, NFT Market Place, Multi Chain & Bridge features.

We have 2 business model;

First is a B2C Model, as our goal is to build an ATM & banks in metaverse for user to be able to bridge their token from 1 blockchain to another blockchain in a seamless experience without exiting metaverse dimension.

And B2B is our 2nd Business model where we would sell & affiliates our Meta Finance backbone infrastructure into a metaverse project owner. Therefore, their meta community are able to transact in their metaverse without putting an effort on generating liquidity on every blockchain and re building their multi and cross bridges again.

Stephanie (BSC.News)

Super neat! Let’s unpack a bit as there was a lot I wanted to touch on. So first let’s talk about your platform features

3. What are the main features on your platform?

The 9th

As mentioned above, our goal is to create a multi & cross blockchain in our platform.

We have now completed our first defi blockchain in Binance Smart Chain and we are currently on the progress on making our wrapped token smart contract on Ethereum Blockchain.

Though we will have multiple Defi blockchain products in Litedex, it is very important for our holders to understand that our holder is not just investing on a Decentralized exchange or a mere decentralized finance token project.

Our holder is indeed investing in a Meta Finance Blockchain System Integrator.

We BELIEVE the moment the metaverse becomes a reality, our product will help metaverse user to bridge their token in the metaverse world seamlessly. Therefore, combining multiple blockchain is very critical in our first 24 months of product development.

Stephanie (BSC.News)

Meta blockchain system integrator is a key word to this project.  It seems there’s a lot of work to be done but it’s definitely something that will be in high demand in the future!

The 9th

Indeed it is steph

4. What is $LDX and how are they utilized on your platform?

The 9th

There have been few concerns here and there about a DEX token gradually decreasing in value as time passes by, because the DEX token itself is not being used to transact at its own DEX.

We have a proper solution in place to all our customers and holder to sustain the equilibrium price of the token and utilize our token in our own DEX.

Few of the initiative of LDX token utilities;

– Slip to Earn (User will be rewarded when they Swap with Ldx pair)

– Slip championship (there will be a leaderboard championship when people trade their swap with LDX Pair)

– Loyalite’s (Litedex Loyalty Program will accumulated a wallet address of their traction every activity they do in litedex.io)

All these initiatives will utilize Litedex token to be used by our users and holder on every of their transaction in Litedex Protocol.

Lastly each of this initiative is indeed has its own purposes to always burn Litedex token to always maintain an equilibrium price base on its supplies of token.

The main goal is to always find the best mixed of token utilities to maintain the speed on our token burning to be faster than our block emission.

Stephanie (BSC.News)

Thank you for the explanation as well as addressing some of the concerns and solutions about your token!

5. Please tell us about LITEDEX NFT

The 9th

We will create a total of 3024 NFT available only, it is still under ongoing progress, as we are currently deciding on the rarity trenching.

Our NFT can be used and utilize for our own Dex purposes, as the NFT will be similar to a games power card.

Where the holder of our NFT will be able to stake the NFT and gain specific benefits; such as;

– Extra APY on Stacking

– Extra APY on Farming

– Rebates on Swap fee (using LDX Pairs)

– Rebates on token enabling

– Better Interest rate when doing token loan with LDX token

There Is another thing that is currently on research by our technical division, we are still trying to find a method technically, where we are able to adopt our NFT utilization and token burning method combine into one.

Therefore, we are able to always maintain our token circulation therefore it will also put a positive impact on our token circulation stability.

Stephanie (BSC.News)

I could see your effort to make your token stable and how much this project means to you.  Do you have some images of your NFT to share?

Yes we do, here is our first teaser.

As this nft will give the owner power to;

FREE BRIDGES AND SWAP FOR LIFE

it our first legendary NFT for a teaser

Stephanie (BSC.News)

Awesome! sometimes it’s better to show than tell

6. What makes your project unique compared to other DEX projects out there?

The 9th

one thing for sure, a lot of our early bird token holders always have the perspective that we are indeed a decentralized exchange company that will focus on the SouthEast Asia market. On the other hand, what our investor really invest in is a company that focuses on building a Defi & Meta Finance Blockchain System Integrator.

It is important for our Hodlers to understand that, Metaverse might not yet be around now, but it is coming soon within 2 to 3 years’ time.

Few things that are holding back the scalability of the metaverse progress, would be the distribution of the Hardware to actually enter the metaverse.

On the process of building the Metaverse, there are a few pain points that Litedex believe will be crucial to have a seamless experience such as;

1. How do you transact in metaverse?

2. Which Crypto Currency do you have to bring to the metaverse?

3. Do you have to bring a lot of Crypto Asset into the metaverse?

And due to these points, Litedex enters the market as a solution and provide 2 types of business model as stated above;

– The B2C Model as having ATM & Bank in the metaverse

– The B2B model as we will provide the Meta finance backbone integration to the metaverse project owner

Stephanie (BSC.News)

I think you pointed out pain points very well. There are lots to look forward to! The most importantly,

7.  Is your platform audited or has another safeguard layer in security? How can you ensure users that your platform is safe to use?

The 9th

There are 2 types of risk mitigation that we Litedex prioritize;

First the risk on the blockchain hacks, and our mitigation are;

1. We have audited all our smart contracts with Certik.

• Litedex Token Smart Contract

• Litedex Swap Smart Contract

• Litedex Stake & Farm Smart Contract

2. We will have a bug bounty program with Immunefi

3. Our smart contract will be insured by Nexus Mutual

Second, the risk on the IT Backbone infrastructure Web Security;

1st. it is important for application or any digital product owner to also secure their back end IT Infrastructure, as to Litedex, we are also implementing our IT security following the latest guidelines of Cloud Security reference to Cybersecurity and Infrastructure Security Agency of United States Digital Service on August 2021. .

2nd. We are currently also implementing an Anti DDOS for our web base, combine with a follow through of WAV.

3rd. we are also on the building of our own Security Operation Center,

4th. As to our Quick Win Strategic Remediation Environment program we will also implement a routine Vulnerability Assessment, Common vulnerability Exposure testing, & Black, Gray & White Box Penetration Testing

Stephanie (BSC.News)

Perfect! Last but not least

8. Any exciting news you would like to announce here today?

The 9th

We have waited for this moment since the past 1,5 Years

our latest updates and achievement would be;

i. We have successfully generated our own smart contract and audited before any private sale & ICO in Q3 2021

ii. We had successfully closed our Private sale on Q4 2021

iii. We had also successfully achieved our ICO on Q1 2022

iv. We will launch our Stacking product on the 11 March 2022

v. We will also initiate our first partnership with the 1st and the only MOBA game Developer in South East Asia on the 3rd week of March 2022

vi. Since there is still a left-over of 10 Million tokens in our Public sale token budget;

– We decide to burn 3,5 Million Token and it will go to a dead address

– We will convert 3,3 Million tokens to the partnership smart contract

– We will budget 200,000 Token for our one last air drop before our listing day

– We will open 1 last launch pad on the 16 of March 2022 with only 3 Million Token at a price of 0,175 USDT

vii. and lastly We confirm our first listing on Lbank exchange on the 23 of March 2022.

Stephanie (BSC.News)

It’s definitely some exciting stuff! Would you be able to provide us with social media links so that our community could follow?

The 9th

Of course;

– Telegram:

– Twitter: @LitedexProtocol

– Instagram: LitedexProtocol

Stephanie (BSC.News)

Great! Make sure that you guys go and check out LITEDEX! Their platform offers you exposure to the best projects on BSC all while rewarding you for using their innovative ecosystem!

Source : bsc.news