Merrymen weekly update #7 — AMA recap
To begin our newest campaign, we have conducted an AMA with Satoshi Club, one of the biggest AMA communities in the world.
For those who missed it, here is the official recap:
Q1 from Telegram user @highpee
It is good to see MerryMen back to Satoshi Club after your last visit on Aug 14th. During the visit, you mentioned that MerryMen DEX will operate as a refined version of Uniswap and $MERRY token will be developed as a ERC 223 with focus on security and improved fees. However, you are now launched on BSC and it seems like you have abandoned some of your previous plans such as the release of a first of it kind Mobile based DEX. Can you briefly share with us how your journey has been so far and what has changed since your last visit to the club? What necessitated some of the changes that we have seen and why does it appear like the project has not been living up to its full expectations? What are your current priorities and when can your community expect to see the revamped detail roadmap which you promised to release in order to show the direction that your project will be heading?
Initially we decided to go with Ethereum, however due to strong community feedback favoring lower fees and easier integration, we decided to switch to BSC. Our previous visit to the club was before our IDO and DEX launch, two major updates that have happened since.
As far as our roadmap, we have already released our updated roadmap and are about to release a second, more specific, detailed tech roadmap, to give our community further insight on the direction we are taking regarding the DEX. Please view the attached roadmap here:
Q2 from Telegram user @QueenMary_NFT
My questions are quite straight and Simple, can you kindly explain to the community why Merrymen is more focused on marketing campaigns? In your Road Map, Q1 2022, it was stated that 2022 will be an incredibly important time for Merrymen. Which you will be ramping up all marketing efforts, with influencers, AMAs, partnerships & more. I would like to know more about your Current development with regards to your Road Map, is everything going according to your planned Road Map? Can you tell us about the Kinds of Influencers you already have on board? How about your Partnerships? Could you explain your Alliance with Genesis Pool? How does this relationship benefits Merrymen and it’s Users?
Our previous roadmap has been updated as stated earlier; we are now projecting to be on track regarding the general roadmap.
Marketing is incredibly important to us as it helps shed light on the Merrymen ecosystem while rewarding token holders, creating a compounding beneficial effect for all ecosystem participants.
We are currently in the beginning stages of our newest marketing campaign, which began April 15th. During the campaign, our community should expect to see all of the marketing avenues mentioned, (influencers, AMAs, media campaigns etc). Information and announcements surrounding all campaign developments will be shared on our socials, so make sure to give us a follow!
Genesis Pool is the launchpad on which we had our official raise, kickstarting our journey in the public eye. Our first official partnership was Transient, a smart contract platform providing value to Merrymen’s ecosystem both though co-marketing opportunities, as well as potential tech collaborations.
Q3 from Telegram user @Rozielyna
I would like to know more about the $MERRY token of Merrymen. What is the total supply and Price of $MERRY token? I am a bit confused as there is no much details about these token, What are the features, use case and utilities of the token? Where can we buy your token? What are the rewards and benefits for holders of your token? Will there be a staking mechanism for the $MERRY token?
Merrymen has a limited max supply of 500M tokens. The $MERRY token serves as the utility token on the DEX, currently letting investors gain LP rewards through liquidity provision on the DEX, and eventually becoming the utility token of the Merrymen DAO, among other use cases.
One of the teams top priorities currently is delivering a staking/farming platform. Since our IDO, investors have been able to provide liquidity on the DEX and gain subsequent rewards, and are eager to farm these rewards for $MERRY tokens.
Our dev team is consistently working on the platform, which will be the first major integration on the DEX. Many more will follow!
Your can currently buy the $MERRY token on our own DEX:
Q4 from Telegram User @deaddynot
Hi Merrymen team! My love for testing new things is boundless, so I was happy to visit your DEX. I noted a small number of tokens available for swap. And, of course, I compared your project with those considered to be the flagships of the market, where exchanges on various blockchains, a wide range of features and tokens are available for exchange. How are you going to conquer the ocean of blockchain and stay afloat? Because it is impossible to cover the lack of functions only through marketing. Thank you!
Naturally, Merrymen aims to compete with the flagship DEXs currently available on the market.
Since Merrymen’s inception, the team has been working around the clock to reel in potential listing partners.
Initially just after our IDO in late 2021, we locked in multiple partners and had a significant number of projects reaching out asking to list, however things have changed as of late and a combination of factors, mainly caused by incredibly poor market conditions, have hindered the listing process.
We are currently working on a new integration, a solution to our liquidity problem and a foundation upon which Merrymen will become a contender among the top ranked DEXs currently available. An update will be released very soon detailing this integration, so make sure to follow us on our socials!
Although we are still in early stages, we are constantly working and striving to deliver a groundbreaking product.
Q5 from Telegram User @Blessingchum
While I read through your website, I observed three major features of the Merrymen mobile app and they are; LEARN, MANAGE and CUSTOMIZE.. Can you elaborate on these features? Speaking of the LEARN feature, how will Merrymen ensure that a user’s investments will be safe and decentralized regardless of the user’s experience in DeFi? Are there provisions for tools/support to help newbies adapt to the app quickly and trade easily? Can you tell us about the tools available on the Merrymen Mobile app to aid a MANAGEABLE and CUSTOMIZABLE portfolio? Lastly, is there provision for PC and iOS apps?
Merrymen will always ensure the safety of every investors funds.
While trading on the Merrymen DEX, trading and investing happen in a non KYC’d, decentralized manner.
As long as your private keys are kept safe, we can offer our community reassurance that none of the core issues commonly experienced while trading on centralized exchanges will ever arise while trading on our DEX. On our upcoming tech/product roadmap, we will outline the exact integrations and tools that we will integrate on the DEX to facilitate newer, inexperienced traders making the transition over to DeFi trading. These will include trading tools, among others.
We have not yet released insight on our upcoming mobile app, as our core focus presently is to deliver and progressively improve our current web based DEX.
Q6 from Telegram User @Asela1112
You have built the Merrymen platform on Ethereum blockchain system which have higher gas fees than other alternative blockchain networks. Why is that? Will this lead to downtrend the $MERRY token since the transaction fees are higher than other? Will there be cross chain migration within Merrymen DAO? If yes, Please tell us about the upcoming plans of the Cross chain integration to the Merrymen ecosystem? When will you onboard more potential Blockchain ecosystems like Solana, BSC, Cardano, Polygon etc..?
We ultimately decided to build the DEX on the Binance Smart Chain, giving investors the chance to trade while incurring minimal transactional costs.
We 100% will make Merrymen a cross-chain DEX, as well as a full fledged DAO.
This will occur through Merrymen’s cross chain bridge, allowing investors to efficiently transport their tokens between compatible chains. Please refer to our roadmap posted above for further insight regarding the bridge.
