Dexpools & OKC AMA Recap
On March 21st, the Co-Founder and CPO of Dexpools, Dan Peng, joined a live Ask Me Anything session on the official OKC Telegram channel and answered questions from the OKC team.
The purpose of the event was to introduce Bullieverse to the OKC Community.
The following is a recap of the AMA.
For people new to OTC trading, what does it entail?
Dan Peng: OTC trading means trading directly with another person (usually directly or through a broker).
The purpose is to find unique deals or high-volume trades. In crypto, a lot of people trade P2P / OTC to avoid slippage on automated marketplaces like Uniswap, or to avoid crashing prices if they are early investors or teams. And the acronym OTC means ‘Over The Counter’.
What makes Dexpools better than other OTC (Over The Counter) trading platforms?
Dan Peng: We strive to provide a few differentiators:
1. Better user experience — traders can create public trades OR private trades, negotiate directly on Dexpools with chat, search for tokens other traders have, and other useful tools.
2. Multi-chain and eventually cross-chain swaps — we will have support for 10+ chains by the middle of the year, meaning you can trade on almost any popular chain that is EVM compatible. Dexpools will also support cross-chain later.
3. Advanced trading support — Dexpools will allow multi-asset swaps including ERC 20, ERC 721, ERC 1155. Yes, that means we’ll be supporting NFTs soon.
What made you decide to choose the OKC network?
Dan Peng: Our team chose OKC as one of the first chains to support because of the potential and the team. OKC having a major disruptor and exchange supporting the chain is really important. We think OKC is actually ahead of the game because many CEXs are thinking of launching their own chains so first-mover advantage is important.
In addition, the team has been amazing. One of the first things we look for when launching on a chain is how easy it is to work with the chain and get support. Everyone we have worked with has been great!
What are the details behind your IDO and token sale?
Dan Peng: The Dexpools IDO is set for March 29–31 via Metis. We will then have a much larger raise via Copperlaunch in early April shortly after the Metis IDO.
You can find more information on the tokenomics via dexpools.com/whitepaper
Let us dig deeper into your token economics. Could you please walk us through?
Dan Peng: Sure, here is a screenshot to guide the discussion:
The first thing to notice is the large allocation for growth and community with clear usage amounts for the first 6 months to a year. Our core team is set on a 36 month linear vest after a 6 month cliff.
We already had a private (.35 USDC) sale and seed (.25 USDC) that sums up to 6% of the token supply with larger investors and VCs including companies like Quantstamp, Magnus Digital, and Jade Protocol. They will only have 10% unlock after copperlaunch with a longer vesting period.
IDO (.5 USDC) will have a shorter vesting period and much higher unlock. Copperlaunch uses a reverse auction system and will start much higher and slowly lower in price until demand balances out the price — we think the price will be anything from $1-$2.
We’ll be curated on Copperlaunch by their primary curator Bal Intern.
What chains will you support on launch?
Dan Peng: We have a few phases. The first phase on launch date shortly after Copperlaunch will include Ethereum and Metis.
In April / May, you’ll also see trading support for:
- Moonriver and Moonbeam
- …and more
Our swapping contracts for all of the above are already audited by Quantstamp, but we are going to go through a second audit soon for NFT support and *teaser* limit orders.
What are some other products/features on your roadmap?
Dan Peng: So we mentioned two things — NFT support and limit orders.
We will also be supporting DEX integrations so any DEX can use our P2P swapping protocol if slippage is an issue and a direct integration for DEXs to use our limit orders so that users can set prices and rules to purchase certain pairs.
Later this year, we intend on going fully cross-chain, which is a technical challenge but our team has lots of bridging experience so we believe we are the right team to tackle this problem. Imagine being able to swap your OKC tokens for Ethereum based tokens!
Teaser for you guys (it’s the first time I’ve shared this screen publicly)
Regarding the screen above, essentially, you can trade your NFTs or ERC 20 / 1155 tokens for any other tokens on a chain.
You can trade different types of assets in any quantity and any mix of assets that you wish.
What other exciting developments are coming after your IDO?
Dan Peng: As I mentioned — we’ll have our Copperlaunch on April 5th. Also, our official app launch will be the week after our Copperlaunch.
Expect beta testing for NFT trading and limit orders from May to June, we are really excited to see everyone’s feedback.