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GAINS Associates

DEXTools — Telegram QUIZ & AMA — August 07

On Saturday, August 7, we had the pleasure to welcome to our Telegram chat:

Frederic, Co-Founder, CMO and Developer of DEXTools

We asked him questions about the development of DEXTools.

Some sentences have been slightly edited for readability but the meaning has been conserved.

Summary

DEXTools is a platform that provides services for traders. It has several tools to help improve your trading and improve your performance in the market.

Frederic from the DEXTools team joined the GAINS community to talk about their platform and its benefits for traders.

DEXTools tries to be as flexible as possible to the changes in the market, and are open to change the whole course of the project if that means an improvement for the project and the community.

DEXTools currently works with IDEX and Uniswap with the team looking to work with more platforms in the future.

Introduction

Q — Alex Raffin from GAINS: Can you tell us what you did before crypto, how you got into crypto, and if you’ve had any other venture in crypto previous to being involved with DEXTools?

A — Frederic from DEXTools: Yes, of course, I got into crypto in late 2017. I studied marine engineering, had some minor jobs related to it, but then I discovered crypto and fell in love with the blockchain concept and especially with trading. I spent the next years learning as much as I could about both technical and financial aspects. I really liked the fundamental analysis of projects and discovering the potential of new projects that were emerging. That was my passion and my dream was always to be part of that.

After the boom of 2017 many people looked at crypto and very good initiatives started to emerge.

Product

QAlex Raffin from GAINS: Can you tell us what DEXTools is?

A — Frederic from DEXTools: DEXTools is a platform that provides services for traders. We released several tools to help improve your trading and improve your performance in the market. We currently have 2 exchanges integrated, IDEX and Uniswap, but more will come.

We have a working beta and we are improving it every week.

Q — Alex Raffin from GAINS: Can you tell us more about these services and how they can help traders?

A — Frederic from DEXTools: It’s hard to explain but I’ll try. For IDEX, for example, we have tools like the token catcher, that tells you when a big amount of a token is deposited in the market so you can put an order, usually when a big amount is deposited to sell.

Another one is Wallet Info where you can see and follow another person’s wallets to check their performance and be able to copy them or follow their movements. It is free and open for all, so you can try it.

Q — Alex Raffin from GAINS: This makes me wonder if technical people/miners that see these movements might be able to take short positions on these tokens before a whale sells. After that, it can also be mind games if it starts to be known and the whale might not sell.

A — Frederic from DEXTools: The star of our tools, is the Uniswap Pair Explorer, and it’s by far the most used in our platform with the recent Uniswap growth. We provide real-time data for all the tokens that are listed in Uniswap.

It has charts, buy and sell orders, and the DEXT Score, that provides you a score of the trust of the token.

You can check the wallets that you are buying for example, without the need to make tedious research through websites like Etherscan. You can check if bots are buying or selling or if teams are selling.

Q — Twitter user @RogerZamoraZ: One of the current problems in crypto is the conversion of data or information related to blockchains in an easier environment to understand. What solutions does DEXTools offer for this type of problem?

A — Frederic from DEXTools: We use information from many sources: Blockchain, internet, and various apps in addition to our own algorithms. We combine it so it is much easier to understand for our users. Everything is based on having a clear and well-designed interface. That has always been a challenge for us because we have to include much information on a single screen. We like what we have achieved and we will continue to improve in the future.

Q — Twitter user @Taunigma1: How flexible is your DEXTools to accommodate changes in the crypto market?

A — Frederic from DEXTools: Very good question. We try to be as flexible as possible to the changes in the market. We are not afraid to change the whole course of the project if that means an improvement for it and for our community.

Take Uniswap integration for instance. This was not in our plans and we have adapted. If tomorrow there is an exchange or tool that people ask us for, we will try to integrate it as soon as possible, trying not to leave aside our main development, but without closing ourselves to new changes, and always thinking about the best for our community.

Q — Alex Raffin from GAINS: Like for example, reducing the numbers you gave above if the token price rises significantly?

A — Frederic from DEXTools: Since we have a burn system in our token, we cannot keep the same amounts. If our token total supply reduces to 30–40 Million in a few years, we cannot ask people to hold 1 million to access the premium features.

We want to keep the app affordable to everyone with some exclusive features for people who want to take his trading one step further.

Q — Alex Raffin from GAINS: What price are you targeting in $?

A — Frederic from DEXTools: For the app subscription, we are thinking about $100 max for premium and about $50 for basic. A normal trader can get that amount from trading in 1 day, and use the app for the rest of the month.

I must add that subscriptions start in V1. Now you can access the beta only by holding our token.

Q — Telegram user Jhonathan: On Dextools website you have 3 service plans. What differentiates the Premium plan from the rest? If I don’t want to sign up for a plan right away, can I try the platform for free?

A — Frederic from DEXTools: In the premium plan you will have all the features you have right now and all the upcoming ones until V1. When V1 is released, you will become a Silver member and gain free access to the platform for life.

Q — Telegram user Emi: Do you think that beginners should use other educational resources before using DEXTools or do you think that DEXTools is enough to learn what is necessary?

A — Frederic from DEXTools: The best way to take advantage of all the tools DEXTools offers is to be an experienced trader, but anyone can use them to start and learn as much as they can. It is much more friendly than other interfaces like Uniswap and gives much more information to trade.

Q — Telegram user ArrowR |HOMT.NET Ambassador: One of DEXTools’ features allows the user to anticipate market dumps. How can an algorithm predict this? Is it possible to leave this alert automated so that your trade can be triggered if a dump is imminent?

A — Frederic from DEXTools: We always work with probabilities. There is no certainty that someone will throw a token on the market even if they deposit it, but there are automatic bots that do this on IDEX for example and we can identify them and take advantage of them for our benefit. It works very well.

Q — Telegram user Alfred: What tools can I use in DEXTools to visualize tokens or projects in real-time?

A — Frederic from DEXTools: For Uniswap, the Pair explorer and the upcoming Wallet Info are your friends. For IDEX, we have plenty of tools like Ob search that you can use to take advantage of other traders.

Q — Telegram user Gotsuka: Which problems have you faced during the testing period and how will you solve them?

A — Frederic from DEXTools: The best problem we had recently is the overload of users we had. Our server was not prepared for so many users, and we had to upgrade it. About the app itself, we recently included a pair search so you won’t need to go to Uniswap to search for your favorite token to see it. You can do it through our app because the community was always asking for contracts of a token pair and they didn’t know how to search them.

Q — Telegram user Jessica: Tell us about the token metrics of DEXTools. How many tokens have been distributed and are there any locked coins?

A — Frederic from DEXTools: We have distributed about 85 million tokens at this moment. 15 million remain in the team’s wallet for this year’s budget, which is unlocked. Another 100 million is locked until 2021 and will be unlocked every 3 months until we reach the max supply in 2023. We will continue to burn, so the current max supply won’t be in circulation.

Team

Q — Alex Raffin from GAINS: How many people are behind the project?

A — Frederic from DEXTools: Well, Javier and I started this project. We are both co-founders. He worked in many top Spanish companies as senior developer and project manager. Other people like Guillermo are very experienced crypto traders, the best I’ve ever seen. He’s in charge of testing our app to discover new functionalities and improve it, and he helps me with the community too.

Dani is a very experienced developer too. Pablo, our recent acquisition, is another monster in coding and developing, he worked in many top companies too. You can check all their LinkedIn profiles on our website.

Q — Telegram user Raj Choudary‏: The crypto market is subject to manipulation. What tools does DEXTools use to detect manipulation and provide accurate market data?

A — Frederic from DEXTools: We have algorithms to detect wash trading and bots. Our info is taken from the Ethereum network so it is always accurate.

Business Development

Q — Twitter user @KathDM3: Are you currently working on new features? What’s coming for DexTools in the near future?

A — Frederic from DEXTools: We are continuously improving our application and we usually upload weekly updates.

The next ones that will arrive, besides closing our application to holders, will be the new TradingView integrated charts as well as the Uniswap wallet info, which will allow us to save our favorite wallets and follow them, among other things. We will include a free version with limited tools, so everyone can try it.

For the main tools, you have to hold 5000 $DEXT and for the full version 100k, which will include the new features that we will release until V1.

Q — Telegram user Diego: The Polkadot ecosystem is actively developing. Are you planning integration with Polkaswap? What programming language is behind DEXTools and why do you use the program?

A — Frederic from DEXTools: We are following the development of Polkaswap and we would love to work with them in the future. About the technology part, we use Javascript and its framework Angular for the front end, and many more technologies for the backend.

Q — Telegram user Rick|HOM.NET Ambassador: Will the bots provided for in the roadmap automate these procedures?

A — Frederic from DEXTools: We will try our future bots to be as automated as possible, but we believe in the trader’s experience to make decisions. Some interaction with the user to give it some parameters will be always needed, but you don’t need to be in front of the computer after that.

Q — Telegram user Aditya: What kind of trader is DEXTools targeting? Will it be smooth/ simpler for newbies to use the tools?

A — Frederic from DEXTools: We try to focus on people who love trading, better traders will benefit more from DEXTools but it can be used by all people who try to be better at trading. More info is always better.

Q — Telegram user Hasan Mahmud: How do you plan to spread awareness about your project in different countries where English is not spoken? Do you have local communities for them to let them better understand about your project?

A — Frederic from DEXTools: We are from Spain so English is not our native language and we are aware that many people don’t know English well. That’s why we have integrated as many languages as we could in our app. We have Spanish, English, Arabic, Chinese, and Russian by now, so we cover most parts of the earth, and we will keep adding more in the future.

About communities, we try to be open for all people and we also have a Chinese community on WeChat.

Thank you for coming in today Frederic and telling us about DEXTools. You’re off to a quick start and have a lot planned. I hope things keep on going well for you. Please keep us updated. Where can we follow DEXTools? — Alex Raffin from GAINS

Thank you for this AMA, it was very interesting to talk with GAINS Community. The main source of info is our Twitter, and you can join our Telegram and Discord communities. — Frederic from DEXTools

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