AMA RECAP: BLOCKCHAIN INFINITY X VEXANIUM
On 21th of September 2020, our main administrator Kien had a live AMA session with Vexanium Team on Blockchain Infinity telegram chat.
Segment 1: Introduction
Kien: Good Day Everyone, we will have our AMA session with Vexanium today. Welcome to Blockchain Infinity Chat Vexanium Team Kindly introduce yourselves to us.
Yosano Ishaq: Hi everyone, we are the representatives of Vexanium Team (Vexanium core developers). Previously our team had a background in e-commerce and programming for approximately 15 years, then we started to take part in the development of a very potential technology, called blockchain. Our team decided to launch a blockchain network protocol called Vexanium.
Of course, because this technology is already at the protocol level, it is already decentralized and is currently being run by block producers with the DPoS (Delegated Proof of Stake) consensus mechanism. Our job as the party that launched (but not owned) this protocol is to introduce the Vexanium protocol to a global level, in hope this technology can bring big changes in the blockchain world.
Kien: Great, thank you for that wonderful introduction Yosano.
Are you guys ready? We are about to start our 1st segment for today’s session.
Andre: Sure, we are ready.
What is Vexanium?
Andre: Vexanium is an open-source (permissionless) blockchain protocol to create smart contracts and decentralized applications (Dapps) on top of its network. Everyone in the world is capable of building various types of blockchain projects that focus on infrastructure development (first layer) using Vexanium blockchain technology. Vexanium blockchain technology is a technology that prioritizes network scalability and speed, without eliminating the concept of decentralization from the blockchain itself.
The following is a full guide to Vexanium:
For new users who just want to enter the world of blockchain and use DApps from Vexanium, you can start by downloading the Vexanium blockchain wallet, https://www.vexanium.com/#download Don't miss it because we will also distribute the AMA rewards to the VEX account obtained from the Vex Wallet wallet blockchain.
Kien: Great, sounds much interesting. Thank you for that.
What are the features that we can see on Vexanium blockchain?
Yosano Ishaq: So, as a protocol, users can create their own DApp (Decentralized Application) or blockchain application on top of our network. Dapp is an application that is peer to peer, does not have a middleman/intermediary so that between users can conduct peer to peer (P2P) transactions directly between them.
Basically, with DApps, no one really “owns” the application or data after it’s installed on the blockchain, so it’s not like other applications that download from the internet or buy from the app store. This can create a more efficient relationship between developers and users.
There are already several DApps built on top of Vexanium network, you can check it here: https://www.dapp.com/dapps/vexanium
Kien: Awesome! Thank you for that.
What are your upcoming plans for the next coming months/years?
Andre: As a protocol network, Vexanium focuses on developing the blockchain ecosystem itself, namely by providing a blockchain platform that can be used to create smart contracts and decentralized applications to developers.
In other words, its mission is to provide a technology that can truly be utilized to develop various blockchain applications that can solve various problems currently being faced by various industries today.
The Vexanium platform is currently focusing on developing DApps and DeFi. In the near future, there will be various DeFi launched on the Vexanium platform. But one of the DeFi that we are currently promoting a lot is VEX REX and VYNDAO, which we will explain further in the next segment.
Other than that, there are a lot of programs that are coming in the next few months and next year. We have Dapps Incentive Program Phase 5, BP Vote Stimulus, Vexanium Ambassador, etc.
Kien: Alright, glad to hear some awesome things about Vexanium. It is really a nice a project.
Are you ready for our 2nd segment?
Andre: Yes ready.
Segment 2: Questions from the Twitter
Question #1 From: @tweetkicau
Could you explain about VEXREX and VynDao? Does VEXREX have tokens and VynDao have tokens also?
Yosano Ishaq: VEX REX stands for “Resource Exchange” or Decentralized Marketplace of the “network resource” in the Vexanium blockchain, REX is also a DeFi (decentralized Finance in Resource Leasing).
With the REX, users of the Vexanium blockchain-based application can get resources that are at a lower cost, while the REX token holder can get passive income in the form of resource rental costs with low risk. VEX REX allows users to lease their network resources (CPU/NET) to other users for 30 days of loan requirements.
For those of you who are interested in staking activities, here is the full guide about REX: https://blog.vexanium.com/what-is-vex-rex.html
While VYNDAO is a Decentralized Autonomous Organization (DAO), consisting of a decentralized balance sheet of VEX cryptocurrencies collateral and others cryptocurrencies (BTC,ETH and other cryptocurrency later) building on the top layer of Vexanium Public Blockchain, with the vision of creating a vibrant ecosystem of tokens pegged to the value of real-world assets.
It allows users to mint (mining) and retire (burn) pegged assets, while also providing market makers with clearly defined arbitrage opportunities. The initial iteration of VYNDAO platform will support the minting and retiring of USD-pegged assets referred to as USDV.
Learn more about VYNDAO here: https://blog.vexanium.com/what-is-vyndao.html
They both have their own tokens to be used within their ecosystem. VEX REX has REX token, while VYNDAO has VYN and USDV. You can learn the tokens function from the link we’ve shared.
Kien: Awesome! Sounds very interesting. Everyone should take a look on it.
Question #2 From: @biangcinta
Do you have ambassador program? What kind of support you wants from the community and ambassador?
Do you agree that the power of the community will lead your project to grow globally?
What are reward that you offer to the community? How many communities do you have now?
Yosano Ishaq: Yes, we have an ambassador program. It was called Vex Ranger, but right now we are currently discussing with our block producers to re-brand it and make a better offer for our ambassadors. We hope that by doing this our ambassadors can reach a wider community, like crypto users, blockchain developers, and general users.
Right now we have more than 100k community members combine from all of our social media platforms. Of course, as we know that the main strength of blockchain is decentralization, the strength of the blockchain platform lies in how strong the community it has. We hope that the new ambassadors program that we will release in the near future will give appropriate appreciation to members of the Vexanium ecosystem community.
Kien: Sounds like a very great opportunity for all Ambassadors out there.
Question #3 From: @pr1ncesscrypto
Vexanium wants to be a reference among the small and new investors of the Dapps, do you have as a short term goal to develop some application that contributes to the improvement of the DeFi and this financial sector?
Andre: As we mentioned earlier that currently there is DeFi which is currently in the testnet stage, named VYNDAO. you can access it on alphatest.vyndao.com , One of the most prominent features of the VYNDAO is to solve the Volatility Problem in Cryptocurrency.
For a digital currency can be used as a medium of exchange for transactions, it must have low volatility and have price stability. Volatility also always has been a negative part of crypto currency; especially when price stability is an essential element in the token design.
There are several ways to achieve such stability, but the approach that is more appealing to the crypto community or even general public is a decentralized (trustless) stabilized mechanism.
The VYNDAO solution to solve this problem is to issue USDV tokens. In the early stage, USDV is the stable coin collateralized with VEX cryptocurrency as its value base. It is pegged to USD. Later USDV will be open to accepting other cryptocurrencies as collateral, which means in the future BTC, ETH, and VEX and any cryptocurrency holder that acceptable can obtain a proportional amount of USDV by pledging.
You can follow https://t.me/vyndao also on telegram channel.
Kien: Alright, thank you for that answer.
Question #4 From: @AndengAlejandro
There are 20 dapp on vexanium, how is your plan to create more than 100 dapp on vexanium like other blockchain TRON, ETH or EOS?
Yosano Ishaq: Yes, users can check our DApps here: https://www.dapp.com/dapps/vexanium
Our plan to have more than 100 DApps in the Vexanium ecosystem is by involving every blockchain developer around the world to build DApps on top of the network. We have a program to stimulate that, it is called Vexanium Dapps Incentive Program.
Currently the program has been running 4 times (per quartal), with a total prize pool of 2,000,000 VEX* per phase. During this time there have been several DApps created by blockchain developers from the crypto and blockchain community, ranging from the categories of games, finance, data verification, etc.
In addition, the core developer of Vexanium also often holds webinars and technical training for smart contract creation for lay programmers to enter the blockchain world. Recently the Vexanium team has collaborated with a university to create a blockchain technology curriculum.
All of this is done with the hope of giving birth to new dapps programmers who can provide new perspectives to the world of blockchain to make this technology more mature.
Kien: Alright, thank you for answering that question. Here comes the last question for this segment.
Question #5 From: @ObscuraValentin
Many average users are only interestsd in short term investments which is fine but how can you convince investors to invest in long term?
Andre: Currently, the price of VEX in the market is still relatively cheap, because Vexanium is a blockchain project that is long-term in nature. With this low price, it can help developers to make more applications.
In the future, after there are many blockchains apps (DAPP ) , usecase and DeFi applications on Vexanium network, the value of the token will follow the trend, according to its function, not just because of FOMO. Same as Ethereum which is used not because of exchange value but to use applications in the protocol network.
Segment 3: Live questions from the community
Kien: Awesome! A very great segment. Thank you for answering those questions.
Are you ready to answer some community questions?
We are about to start a live segment for today!
Kien: Alright, seen a tons of great questions! Thank you for that everyone. Time for you guys to answer some questions Vexanium Team!
Andre: Ok wait a minute, we choose the question first.
Kien: Sure, take your time.
Q1 From: @jobel4
Can you explain more about the Vex wallet faucet in Vexanium wallet application? How does the user will benefit with the faucet?What is the minimum amount of Vex token to be withdrawn in the faucet?
Andre: Vex account FAUCET: get free 1 VEX per 1 account
Hi Jobel, For creating a new VEX account, actualy you need 0.3 to 0.5 VEX for reserve some (NET, CPU and purchase some RAM) so you can get free VEX by install on https://play.google.com/store/apps/details?id=com.vexanium.vexmobile or go to vexwallet.com (there is faucet there ) you can get 1VEX and reserve around 0.3-0,5 VEX on (RAM,CPU+NET) so you can withdraw around 0.4 to 0.6 VEX per new account.
Q2 From: @CryptoCoin_hodler
As a developer I know Solidity, Java C, KSML, how easy is it to build dApps on Vexanium, what programming language does you employ?
Vexanium is using C++ for building smart contracts because most programmers are learning C++ and until now C++ is still leading on blockchain programming, but on web application you still can use vue.js, angular or any languange: https://docs.vexanium.com/
Q3 From: @Kento_Tan
You have taken steps to reduce the circulating supply of Vexanium Tokens. What is the long-term plan for the number of tokens in circulation? What made you decide to reduce the circulating supply?
Andre: Yes Vexanium it self have several Burn Mechanism that doing by Blockproducers/validators , we already have our VEX First burn program last month and we will do burning around Quarterly or Yearly Burn , also more usecase and VEX coins adopted in several dapp and defi will reduce the circulating supply on the market.
Q4 From: @nobije1
Where does the project name come from? What does it mean for you and why did you choose that name for your project?
Andre: Vexanium name is found by our founder @dannybaskara
VEXA is come from the main function of MONEY:
The main functions of Money are distinguished as V EX A
1. V: ( value ) a store of Value
2. EX: ( exchange ) a medium of exchange
3. A. (Account ) unit of account
And Anium is simple like any others mineral than can everlasting and imutable as a character of blockchain it self so the name come from VEXA and NIUM.
So V = Value , EX ( Exchange ) , A is Account this is the main function of money.
Q5 From: @SmAG_23
Does Vexanium has plans to introduce any cross-chain communication methods moving forward?
Andre: Sure, cross chain communication is one of our Roadmap, that will be start on Q4 2020 next month just wait.
Kien: Alright i guess we should stop it here. What a wonderful segment, thank you for answering those questions.
Would you like to promote something about Vexanium?
Yosano Ishaq: Don’t forget to download Vex Wallet. (www.vexanium.com/#download) because we will distribute the reward there and you can test some of Vexanium DApps from that wallet.
Also VYNDAO testnet from alphatest.vyndao.com.
Kien: Great, thank you for being with us here today Vexanium team. It is really a fun session. I hope you guys had fun today.
Andre: Thank you for attend vexanium Ama of you have any question about potential Collaboration, partnership or ambasador program you can ask @admvexanium @Andrevexanium ( On Telegram) > https://blog.vexanium.com/vexanium-global-ambassador-program.html
Hi Vex Partners!
Here are the list of Basic Guides to Vexanium and Blockchain:
Blockchain Account Guide
Create a Free Blockchain Account (PC / Android)
Vex Wallet Main Features
DApp (Decentralized Application)
DeFi (Decentralized Finance)
Block Producer (Vexanium Blockchain Delegator)
Mining VEX (Become a Block Producers)
How to Vote BP
Resource Tutorial (RAM, Net, and CPU)
How to Buy or Sell RAM
Kien: Thank you for that Andre.
Yosano Ishaq: Thanks for having us here, please do not hesitate to contact https://t.me/Andrevexanium, if you have other business inquiries regarding Vexanium. Bye everyone.
-END of AMA session-