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GAINS Associates

XFai— Telegram AMA — April 09

On Friday, April 09, we had the pleasure to welcome to our Telegram chat:

Geoff Khan, Co-Founder.

We asked him questions about the development of the XFai.

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


XFai is a set of autonomous liquidity management smart contracts for tokens with low trade volumes and market caps. XFai allows holders of ‘small cap’ tokens to earn returns on their ‘small cap’ tokens when providing liquidity and therefore increase their position in those projects.

XFai’s DLO increases trading volume and hence the ROI on DEX liquidity pools. This universal protocol operates with a revolutionary set of autonomous liquidity management smart contracts.

$XFIT token is XFai’s native, utility token, which can be used as a medium of exchange, store of value, and means of payment for transaction fees. It also has governance and reward functions. Liquidity farming is accessible in XFIT and all other DLO pairs.

Holders can stake their tokens in select pools to earn proportional rewards. Each time the DLO profits from the trades conducted by its platform users, token holders earn additional $XFIT.


Q — Ayeley Commodore-Mensah from GAINS: Let’s start by hearing a bit about you. What did you do before crypto and did you have any other previous venture in crypto?

A — Geoff from XFai: I’m Geoffrey Khan, a founding team member of XFai, I lead the operations. I am a keen crypto enthusiast and the former CEO of Groupon Austria. My dabbling in crypto started 3–4 yrs ago and then the deep dive culminated in getting together with the awesome team that is now XFai!

I explored the space with the team, we have an amazing team of professionals coming from various backgrounds. We have guys like Lum Ramabaja, a globally recognized AI data scientist, and Taulant, an expert in blockchain and DLT, who often speaks as a subject expert at global events like the World Economic Forum. And Aron Dutta, who took two companies as a co-founder to IPO on NASDAQ, was ex MD of CIsco and has built a lot of the systems currently used by crucial institutions on Wall Street!

About XFai

Q — Ayeley Commodore-Mensah from GAINS: That’s a strong team you have there. What is the XFai project about in a few simple sentences? What problem are you trying to solve?

A — Geoff from XFai: XFai develops tooling for the DeFi space, charting both DEX and CEX. XFai aims to unlock DeFi potential for small and mid-cap tokens while inviting more users to earn benefits for supporting their tokens. This opens the untapped small and mid-cap tokens into DeFi, tackling a $250b problem. There are two major tools developed by XFai that achieve this outcome. The Potentializer and the DLO (DEX Liquidity Oracle). I will share some links:

It’s pretty entertaining so I think it will be a good Friday watch!

DLO and Potentializer

Q — Twitter user @meml1997: You said in one of your Medium Articles that you are working on permanent solutions to render bots attacks ineffective in line with your anti pump and dump strategy. Can you tell us more about this anti pump and dump strategy? How will it work?

A — Geoff from XFai: In the first period of any launch is the most vulnerable for any token. It’s when it has the least liquidity and the thinnest order book. Here is where the bots are programmed to attack first by buying to pump up the price and dumping those for profits on unsuspecting normal buyers like us! These as well as many other strategies. Our anti pump and dump involve ant strategies against these bots that will make their strategies less effective. I can’t go into too much detail and reveal the game plan. We also make sure adequate liquidity is in this earliest stage of the pools of XFIt to give it the best long chances of survival. Our Potentializer seamless farming interface does the magic for this!

Q — Twitter user @KevinSalom1: One of the things that caught my attention about XFai is that it promises to save users from unnecessarily high gas tariffs, I think this is something of interest to everyone. Is this real? How many hundreds of millions of dollars in gas could be saved with this?

A — Geoff from XFai: Yes, it’s very much real! DEX users are spending around 4–5 million USD every month. With XFai, we combine multiple transactions into 1 stacked transaction, with just 1 gas fee. There is also no gas fee charged for failed transactions! For example, adding liquidity in the XFai LGE will be 2 to 3 times cheaper than on Uniswap. This way, we are saving users millions of dollars in gas fees alone. Please see this short vid for some highlights!

Q — Twitter user @Afran145: Yield farming strategies are very attractive but also carry multiple risks, how much does security matter to you, are you planning continuous audits for the protocol and guaranteeing security?

A — Geoff from XFai: We understand that security is very important. The team at XFai is composed of experts who actually get called to help other projects from potential security risks. So the development is in very good hands. We have identified the potential of sophisticated bot attacks in preparation for the XFai LGE and have developed solutions to counter these malicious bot attacks. Of course, on top of that, we have third-party audit companies that audit our code along with strategic partners who are dedicated to ensuring that the security risks involved with XFai are at an absolute minimum.

Q — Telegram user 🐍 jidan🐍: Can you tell us about the Liquidity Generation Event (LGE)? What is the difference between LGE and TGE? Why will LG replace the TGE?

A — Geoff from XFai: The LGE is a unique farming and launch event that allows you to essentially acquire XFIT tokens while farming and making 500%+ APY returns! The best of both worlds. By farming, you are essentially acquiring the token (LP) in the pool with your USDT and you farm away…. seamlessly. It is a smooth experience, come to the LGE on 15th on to experience it!

Q — Telegram user Thomas: I read that XFai’s DLO increases trading volume. What is the revolutionary set of standalone liquidity management smart contracts that XFai uses to improve the liquidity problems that many DEX suffer from today? Is this model also applicable to CEX?

A — Geoff from XFai: The DLO increases trade volume by reading the order book on CEX and giving the best liquidity on DEX via our synthetic curve. This gives trading without slippage and better fees for LP providers…a win-win!

Q — Telegram user Dies Lienas: Why are small capacity tokens (market cap. less than 400M) being target by DLO? Can big caps also use it?

A — Geoff from XFai: Well actually the current environment has changed the landscape and has made the net much bigger to us, any token that has most of its liquidity on a CEX or CEXs rather than Uniswap is a target token we support. That opens us a $250b target marketplace for us due to the number of tokens!


Q — Ayeley Commodore-Mensah from GAINS: What is the token use case and how does it capture the value of the ecosystem you’re building?

A — Geoff from XFai: In terms of token usage and value addition, XFIT is a “buy and make” token, similar to buyback and burn in other tokens. Therefore we instead “farm” our own token continuously, both buying the token and adding liquidity to the pool. This removes IL for LPs as well as creates a buffer for the new price level…

The alternative buy-and-burn increases the price of the token but has the detrimental effect of reducing the liquidity. Due to the nature of Uniswap, it would actually be bad for liquidity providers if we just straight out bought and burned tokens from Uniswap as it would expose LPs to impermanent loss. ‘Buy and Make’ increases the price and the liquidity. XFai uniquely makes profits in multiple tokens through the DLO and other products. It uses these profits to continuously farm the XFIT token in the buy and make a strategy. Providing consistent upwards price pressure on XFIT. Thereby allowing it to effectively ride the rally of any token it optimizes…

To acquire XFIT you come to our website, participate in the LGE, at an initial price of 10 cents per XFIT token. Then you can decide to stake your XFIT in the liquidity pool for 500%+ APY. When the LGE has been completed, you have already earned high APY. However, then XFai enables the Potentializer which releases all the tech that has been managing the LGE and all the potential of the LGE unlocks supercharging gains in a stable powerful move upwards. No more crazy rollercoaster and roller the dice, just steady long-term focused gains. I don’t think there is any other time in which something like that could have been done — inclusive, and exciting with additional rewards.

Competitive Advantage

Q — Ayeley Commodore-Mensah from GAINS: This is quite innovative, looking out for liquidity providers. What else sets XFai apart from other crypto projects?

A — Geoff from XFai: We have uniquely been able to minimize gas fees through our farming contract, it’s a game-changer. Instead of the usual 4–5 transactions and multiple interfaces, we have turned this into 1 interface and 1 step. This reduces the gas fees and the hassle…Frictionless seamless and fair farming. This is part of our unique Potentializer interface that will be able to be used at the LGE on the 15th to gain 500%+ APY for everyone, not just experienced farmers!


Q — Ayeley Commodore-Mensah from GAINS: Did you raise funds so far? If so, how did you handle them? Are you planning to do any future raises?

A — Geoff from XFai: Well, we just recently raised about $3.8 million during the private sale, which was completed in a matter of just 12 hours, crazy right! We’re grateful to have the support of renowned supporters such as AU21, Faculty Capital, LD Capital, GBV, and Rarestone to name a few. We also had a few industry experts such as Roger Ver join as an investor.

I cannot directly comment on any future raises. Currently, we have our eyes set on the launch of XFIT through the XFai Liquidity Generation Event (LGE) scheduled for April 15, along with a double IDO scheduled for April 29. Can’t wait!!!

Business Development

Q — Ayeley Commodore-Mensah from GAINS: What stage is the project at? And what should we look forward to in the coming months?

A — Geoff from XFai: Currently, we are in full preparation for the XFai LGE on April 15. Next up is our IDO on April 29. During the XFai LGE, participants will see how the Potentializer can keep the curve steady, allow a sustainable launch, and then fully show the true value of XFIT during part 2 of the LGE.

The DLO development is well underway and the tech team is hunkered down in their cave!, and we are getting some serious interests from various projects in the blockchain space and even some traditional companies wanting to use the DLO to take part in crypto. So we believe the DLO will not only supercharge earnings opportunities for small and mid-cap token holders but also serve as a bridge to onboard traditional companies into crypto.

Thanks for the answers, Geoff. It was a pleasure having you in our group today. I am really excited about the launch and all the innovation you are bringing to DeFi. Anything else you’d like to say? Where can we follow you to stay updated? -Ayeley Commodore-Mensah from GAINS

You have been so awesome! Just that we are hoping to meet you, the Gains community again soon next week on the 15th at the LGE on Follow us on Twitter and join our Telegram group — Geoff from XFai

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