Dec 24, 2021
MEXC AMA Session with James from Position Exchange
Guest : James, Co-founder of Position Exchange
Host: Iris
Introduction:
This is James, one of the co-founders of Position Exchange, a new Decentralized Trading protocol. We are currently based in Singapore. I am CMO at Position Exchange. I would not focus much on myself as we are coming with a new spirit to build trust around the project and its potential.
We are a 100% community driven protocol in the real meaning of the term. The team members and collaborators behind the project are multidisciplinary and have extensive experience in Programming, Smart contract & Blockchain, Finance, Trading and Crypto industries along with a high understanding of economic conditions.
The name Position Exchange was chosen to represent the core feature and goal of the platform, which is to provide and make accessible, Trading to everyone. We want to bridge the gap between people and Trading by enhancing the Trading experience.
Do not hesitate to join our TG channel or visit our website if you have any questions:
Questions about the project:
Q1
Iris: What is Position Exchange? Can you share with us more in detail?
James: Position Exchange is the new Decentralized Trading Protocol, operating fully on BSC with its whole Ecosystem
The protocol offers easy and accessible Derivatives Trading in which users can trade Crypto Derivatives Products fully on-chain transparently and trustless, with high security, and privacy. The platform is designed to deliver all the advantages of Decentralized Finance whilst bringing the traditional Centralized Finance experience and tools onboard. To mention High leverage, low slippage, and low costs as well as limit orders all while solving the liquidity issue using a fully on-chain order book.
Position Exchange is empowered by the POSI token, its native utility token serving as the backbone of its Ecosystem. Holders can stake, farm, and cast NFTs to generate rewards and grow their POSI balance as well as participate in Position Exchange’s governance and shape its future.
The platform will offer an Exchange Pro including limit orders, a DEX aggregator and a Cross-chain Swap mechanism.
Our vision is to push the decentralization to its limit by creating the most community driven and fully on-chain trading protocol with POSI as a real utility and governance token.
Q2
Iris: What triggers you to launch Position Exchange? What are some of the real-world problems/ pain points that Position Exchange aims to solve?
James: Our platform is designed to deliver all the advantages of Decentralized Finance whilst bringing the traditional Centralized Finance experience and tools onboard
Though CEXs currently remain the most popular way to buy and trade cryptocurrencies, they are rapidly losing steam to decentralized platforms — known as DEXs.
As the name would suggest, these platforms do not rely on any centralized intermediaries to function, and as a result, aren’t answerable to any government or organization and are free of censorship and regional restrictions. Instead, they are completely decentralized protocols that are accessible to anybody at any time.
CEXs also come with numerous risks and limitations. The main issue is that the users’ funds are not as secure as they seem to be and are completely controlled by the platforms. The fact that there is a large sum of funds concentrated in a single place creates a target for hackers and makes the platforms also subject to whims and wills of the governments and jurisdictions in which they operate.
DEXs have tried to work on these issues, and in many cases have succeeded in reducing security risks by using blockchains for disintermediation.
Position Exchange comes in the light of the above providing users with On-chain Derivatives Trading with the same CEXs experience while avoiding all the risks and overcoming the limitations.
Q3
Iris: What is the role of $POSI in Position Exchange? Would you tell us more about its tokenomics?
James: POSI is the native utility token to Position Exchange empowering its Ecosystem.
Unlike most of the recent tokens created by other exchanges mainly for crowdfunding purposes and for reducing the trading fees, POSI comes with a different and unique approach.
All the fees and revenues from the protocol will be distributed back to all POSI holders by a mechanism called Buy-Back and Burn fully on-chain. This would mean, just by holding POSI you’re a stakeholder and will be able to receive a share from the revenue.
Along with the mentioned, holders can get reduction on protocol trading fees, increase their POSI balances through the RFI technology, Stake, Farm, cast NFTs and Vote.
For detailed insights about our tokenomics please check the following link : https://docs.position.exchange/posi/posi-tokenomics
Iris: that sounds appealin
Q4
Iris: Are there any exciting news or updates with regards to Position Exchange that you would like to share with the users?
James: As we are in the first phases of the development of the project, many upcoming features, listings, partnerships and intensive marketing campaigns are to expect in the coming weeks.
Our main feature which is the derivatives trading protocol will be available in Q1–20222 along with a bunch of improvements that we will be bringing to the existing feature.
For more details about the future development plans and Position Exchange Roadmap for the coming months, please refer to our docs section: https://docs.position.exchange/roadmap/position-exchange-and-development-plan
Iris: great! can’t wait to see the derivatives protocol
Q5
Iris: If you were to summarize your project in ONE word, what would it be? Why?
James: I would say “The future”. Position Exchange is really trying to push the concept of Decentralization to its limit. We are trying to create a Community-Driven project 100% Governed by the holders. The fact that we are creating a whole Ecosystem will help gather DeFi users of different interest in one single platform.
We are striving to be the biggest Decentralized and most complete Crypto platform
Currently there is no such project and we see that there is a place for the taking.
Free-asking Session
Q1. NFTs is hot trending now, Do you have a play to have NFTs in your platform? If so, can you tell us the plans of your project in NFTs?
James:
We currently do have an NFT Feature in our Platform where users can mint NFTs using $POSI token.
The NFT cards are minted with different rarities and characteristics. Each card a specific mining efficiency that allows the caster/investor to multiply his investment.
The NFT Cards can be staked in the NFT Pool and generate high rewards.
More details on the NFT feature can be found here:
Q2. AUDIT play an IMPORTANT role in enhancing the stability of any PROJECT. Do you have AUDIT CERTIFICATES . Or are you working to AUDIT your project to make it more secure and reliable?
James:
We understand that security is the main priority and most important concern in the DeFi industry. We do not want to put user’s funds at risk. We have just conducted an Audit with Certik: https://www.certik.org/projects/positionexchange you guys can go check it.
We will also implement a bug bounty program for the community to participate in Position Exchange security.
Q3. Do you guys feel satisfied by seeing your progresses and achievements till now, when you look back to the day when you have started this project?
James:
We have achieved significant milestones in a period of 4 months only. We have reached 350k holders and $90M in TVL without even the deploying the main feature. Our Social reach was also very impressive. we have reached 600k followers on our Social media platform and gathered users from 25 different countries. We are very satisfied with the impact and impression that Position Exchange made on users. We are very excited for our main feature which will be a game changer and which will propel Position Exchange to the global stage!
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