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DEXILON x Satoshi Club AMA Recap from the 6th of May

Hello, Satoshi clubbers Another AMA took place in Satoshi Club and we would like to introduce to you the AMA session with our friends from DEXILON and our guest was . The AMA took place on the 6th of May.

The AMA session was divided into 3 parts with a total crypto reward pool of $500

In this AMA Recap, we will try to summarise the most interesting points for you.

Part 1 — introduction and questions from the Telegram&WebSite

Hello Dear Satoshi Clubbers welcome to our AMA session with Dexilon

Our guest from Dexilon is @alexgolovindd

Hello welcome to Satoshi club

Welcome to Satoshi Club!

How is it going, Alex?

Hi everyone!! Nice to be a part of this community

We are Glad to have you here Alex

Glad to see you here today! And looking forward to a great conversation


So let’s start our AMA

bring some fire!

We will start with an introduction, so can you introduce yourself to us, how you got into crypto and how DEXILON started?

Well, I’m in crypto since 2016. I bought my first Bitcoin for about 300$)) But I was stupid enough to get into algo trading, so rather than simply investing, I started building trading algos with my business partners. By the way, who are way smarter than I am)) So it has evolved into a arbitrage hedge fund by this time

Since last spring, while investigating DeFi world, we couldnt find a hedging solution. So we came up to this weird idea of building a proper DEX for derivatives)))

Awesome to know how the decision to build Dexilon came about

At the moment how many people do you have on your core team?

There are 14 people. Most of them hard core engineers. We’ve got 2 Phds and doctorate of science in applied math, we’ve been working with them since our hedge fund business.

That is impressive!

Impressive , are they all anonymous?

And are they all from the same region?

Nope, we will introduce them on our page in a next few weeks.


Most of us are from Ukraine. We also have people from the US and Finland

That’s Great

Nice mix!

So can you tell us what Dexilon is all about?

Do not go too deep as we still have some questions from our community regarding Dexilon. But just to know it in a nutshell

In a few words. It is all about cost of trading. I’m not just talking about fees, I’m talking about the cost of liquidity. We want our users to enjoy all the perks of centralized exchanges with no additional cost. But using DEX you are in control of your assets. And what is even more important, we are not going to solve this problems with subsidies when projects provide huge rewards in order to cover trading costs and when a price of a token goes down or rewards dissapear, the project is down

I see, so the goal is to remove the issue not to fight with the consequences

Thats the idea

It’s an Excellent one

Thank you for the introduction

We will now like to proceed to selected community questions to find out more are you ready for them?


Q1 From Telegram User @Neilselin

I learnt that Dexilon is the first DEX that is run on a limit order book powered by the native blockchain.A limit order is a type of order to buy or sell a security at a specific price or better. Can you explain how the limit order book is executed on the native Blockchain of Dexilon? What are the information that can be found in the limit order book? What advantage does it offer traders on Dexilon decentralized exchange? Lastly, What is the model of limit order book that will be adopted on the Dexilon DEX?

Thaths the most complicated part of a project. The basis of an orderbook is a first in, first out principle. Which not goes along with classic mem pool. So we are forced to build a lot almost from scratch. Another problem is latency, we can build a book with 1 second plus update speed, but in this case Dexilon users will pay a lot for liquidity in terms of spread. Threafore we are using an asynchronious blockchain technology based on Honeybadger BFT.

This means that there are gonna be tight spread, no sandwich attacks (frontrunning)

What are the specific advantages from your side with regards to why you use the HoneyBadger BFT?

This is all new technologies with not many use cases. Honeybadger is a rare one where there is a lot of documentation, and tests.

Oh Okay got it

Thank you for your Answers

Ready for the next question now?


Q2 From Telegram User @MudaraSilva

One of your key features is “Transparent and Auditable Risk Management”. Please elaborate more on this feature. Although some platforms ensure about risk management techniques, they are not able to make them practical. Therefore, please clearly explain about your policies on risk management. How do you make it “Transparent”? What are the steps you have taken to make it “Auditable”? Finally, what type of benefits do users get from this risk management procedure in addition to minimizing financial losses?

By the way, awesome questions, I really like this group!

Thank you for your compliment We’ve got awesome members

The hardest part about derivatives, is a liquidation logic. So trading rules are quiet complex. If we do automatic liquidation using market order, there is a risk that there gonna be a caskade of liquidations like flash crash. And this is bad as people who had positions with low leverage could be wiped out. So rather than making this really complicated, we are chosing a different way. When a position has a margin call, it is placed in a pool. In this pool anybody can buy out this position with a discount using dutch auction. This is a transparent logic, which eliminates potential points of vulnaribility. We are trying to solve problems using free market opportunities rather than taking too much on complicated rules

Will the discount be fixed?

In terms of audiability. All this logic is gonna be on our sidechain built on cosmos. So it will be possible to track almost any transaction

No, it is an auction. Lets say there are 10 BTC long which are placed in the pool. Current price is 35000. So with a stepl lets say 100$ price gonna be decreased, every 6 seconds until anybody buys it

This is clear now, Thank you for your Answers

Do you want to add anything?

Or should we proceed?

I hope I covered the question

Let’s move to the next one!

Q3 From Telegram User @Cheriemike

Looking at your roadmap,I noticed that from Q4 2021 you did a minimum viable products (MVP)of what Dexilon offers in other to gauge users’ interest in the product and to attract feedback,not only that you also did some pre-seed rounds and no other development was made not until May 2022.So can you tell us your experience on the product you offer to users and how they react to them?What kind of feedbacks did you receive and how has it helped you to build a solid structure that will be used to times indefinite?And can you talk about the pre seed rounds and how will you rate the support you have received so far and from Q4 2021 to May 2022 are still engaging in some pre-seed rounds? Please explain Thanks


Yeah. Even though I’ve been trading for some time. I’m pretty new to crypto community. So we did everything oppose to this industry standards. We have built MVP, and only then went for fund raising)) MVP was good, so we managed to get many wonderful partnets who invested in us (Fenbushi Capital, GSR, Ledger Prime, Lightshift Capital and many others). But MVP wasnt designed to be spread among big public. We have testnet version for it, which will be available early next week. So I will share the access with this wonderful club as soon as it will be ready. For building this version, we mainly used a feedback from our investors, and we are going to fine tune it for mainnet using the feedback we expecting to receive from guys lilke you.

Great.. can you share your roadmap with us?

So, SatoshiClubbers are invited to share their opinion

Yep, testnet is going to be live since next week. User will be able to enjoy our platform with minted by us fake USDC) In order to incentivise users we will run a few trading tournaments, were traders can competed for prizes in Dexilon tokens and some NFTs. Little bit later we will run bug hunting contest, so if anyone finds a bug on a platform, he will receive 1000$. By the end of this summer there gonna be a mainnet version 1, semi-decentralized and by the end this year fully decentralized

Thank you for your Answers

Let’s proceed to the next question now

Q4 From Telegram User @JesusFre1tes

DEXILON offers high-performance decentralized derivatives by merging the experience of light-speed limit order book trading with decentralization. This is really fantastic and innovative. But in terms of the “traditional” trading protocols on DEX platforms like DEXILON, what changes have you made to these more basic aspects to improve the experience for high-profile traders and novice traders? Compared to other DEXs, what benefits does DEXILON provide?

First of all, we are building a protocol. We are not ultimate benificiary owner. Trading fees are exchanged between makers and takers. So any limit order has a rebate. If user pays in USDC he is gonna pay 9 bps which usual for CEXs. With DXLN token the fee will be 6 bps. A portion of the fee is a gas cost, insurance fund contribution etc. And the rest 2–3 bps is a rebate. With such structure there is no payment for every request to the platform, so market makers are not charged for keeping liquidity in books. With a rebate, there is a good incentive for tight spread and deep liquidity. Because any blockchain has a limited TPS, we are optimizing API in such way, where within 1 request users are able to update price and qty for a batch of orders. All this is designed to make life of a market maker as good as possible. As a result, retail users will access cheap and deep liquidity

One request for updating a batch of order is indeed great

It is easier to make more complex limit order book logic rather than ensuring very high TPS in a blockchain with low latency

Thank you for your detailed answer to this question

Ready for the 5th question now?


Q5 From Telegram User @Asela1112

The public Token Sale will take place in fourth quarter of 2022 according to the DEXILON Roadmap. Can you give us a sneak peek about this upcoming event in a nutshell? Many projects make KYC necessary to participate the token sales for their users. What about you in this case? Will you impose the KYC as a necessary step for the DEXILON Public Sale? However, How many tokens will there be, And what is the maximum tokens per user? Can you tell me the selling price of a token in Public token sale? Lastly, Please guide us how to participate the DEXILON public token sale?

Unfortunately there is not much progress on TGE. We’ve been to focused on a platform itself. But I will tell than a little bit about use case of our token. It is going to be used for staking for running a node. We rely heavily on oracles, and we are building one by ourselves. So anyone can stake some tokens, supply data and earn good money, as 16,6% of a trading fee is going to be for oracle providers. Because a portion of fees is deposited to insurance fund, thre is gonna be deflationary model

Btw is your tokenomics ready?

Regarding the KYC and the public sale process, we will provide more information closer to the TGE

YES. its ready and will be available in the WP next week on our public channels!

Awesome, Satoshi Clubbers please be on the lookout for the white paper

Do you want to add anything to this?

regarding the the token listing we will focus on Largest exchanges for prime listings. the exact place and date you will be the first to know:))

Thank you for your Answers so far

Ready for the last question of this part of our AMA?

sure anytime

Q6 From Telegram User @MendietaCrypto

Dexilon states to be DAO with all traditional attributes of decentralized governance, however I have not found any additional details on how it works with your project. What the requirements to get voting rights within Dexilon? Are there any particular limits of acquiring/holding Dexilon token? Will DAO be launched in parallel with the platform launch and work simultaneously? Thanks!

So the platform launch will be FIRST. We want our user firstly try and hopefully get in love with our product. The DAO will be launch after the TGE. Hodlers of DXLN token will be allowed to vote for changes to the protocol. But only large holders of the Token can run Proposals. There will be no requirement for the amount of DXLN token to hold and Vote.

Will allowing only large holders to make proposals not give room for whales to be in control of all decisions?

Honestly, we havent yet determined particular rules yet. Again, were to focused on the trading logic side. But we want to provide our users abilities to determine rules with least barriers possible. We will have to make a thresold in order to avoid spamming, but we aim, to aliminate a risk of letting whales to control the platform. If Satoshi Club has some proposals on the DAO rules, we would be very greatful

Dear community, do not miss a chance

Awesome it’s quite clear that not every information will be readily available from the start

Do you currently have any openings?

We are constantly looking for good engineers. In order to avoid new languages like Solidity, we have chosen cosmos to be able to use golang. So if you are good at Go, please get in touch


Thank you for your Answers

Could you share your official links before we move to the second part of our AMA?

Home en

This brings us to the end of the first part of our AMA

Thank you and get ready for some action now!

For apllying for job

We will Now proceed to the second part of our AMA

Our community will ask you their questions directly are you ready for them?


We will open chat for 120 sec for a storm of questions to come

Once we close it back please choose 10 questions to answer

Opening Chat now

Part 2 — live questions from the Telegram community

Q1 from Telegram user

It caught my attention that node brokers will benefit from a portion of the take rate, so how do I run a Dexilon node? Do you have documentation to inform me of this?

We use both a proof of stake and a proof of authority. Because of the latency problems, we cannot run big number of nodes. But in order to secure that our infrastructure is decentralized and operated in a good manner. Only companies with good reputation can operate it. This is of course a compromise. A number of well established VC firms and foundations have expressed an interest. But you can stake it for running an oracle node. And trust me, it can be even more profitable

Q2 from Telegram user

In this Month,
You are about to Launch the Testnet On Hybrid Model,
Please Tell us more about this Upcoming Launch?

We are using a centralized limit order book at this stage. The good thing is that it can handle more than 300k of transactions per second per trading pair. Bad thing is that it is too centralized. But you will enjoy trading with almost no difference to any centralized exchange

Q3 from Telegram user

I understand that Dexilon solves many of the problems faced by institutional trades, but only institutional trades will benefit? Ordinary trades will benefit in some way as well?

This is a wrong perception. What users dont have on DEX is a cheap liquidity. People are paying huge gas costs and around 30 bps as a fee. Plus slippage. Therefore honestly, it all too expensive. If you look now, on Eth some pools average transaction is around 20k, so it is not suitable for retail users. We want make ossible for users to access liquidity at the same cost as on centralixed exchanges, so people can construct a portfolio with around 500$

Q4 from Telegram user

I have Used Many Platform and In most of them they have Large Registration Process , KYC and lot more , So Can Users Join Your platform Hassle Free or KYC Will be Required ?

Thats the goal, no KYC, you are not required to share your personal info. Even more, because we are a protocol, we want to make it possible to trade derivatives for commodities and currencies (no stocks, as we dont want to make SEC angry

Q5 from Telegram user

What are the supported wallets that I can use in your platform ? can I use trust wallet on my phone ?

At the beginning. It is going to be Metamask. On later stages, Dexilon is oing to be cross-chain solution so you will be able to access it from Solana, Avalanche and most other major blockchains and their corresponding wallets. If you use a wallet from your phone it is absolutely fine. But be careful with public WiFi as many people loose their money. We will support a wallet from Copper custody as well, so it will be possible to use a platform with your assets placed at the custodian

Q6 from Telegram user

How much fees Dexilon charges on buying and selling of any coin/token?

That the thing, we are not chargin anything. Fees are exchanged between traders. As a team we are profotong from the rise of Dexilon token. With such structure, takers will pay 6–9 bps depending wether it is USDC or Dexilon. And they will receive 2–3 bps. With no gas payments (a portion of a taker fee is a gas cost) it could be even cheaper to trade on Dexilon than on centralized exchange

Q7 from Telegram user

Can you talk about the liquidation logic of DEXILON against gradual liquidations on the DEXILON platform? What is the plan and strategy that DEXILON will implement in order to avoid market influence in the event of a possible sudden collapse?

Because we have designed a liquidation pool, positions will not be sold using market orders. Therefore, a caskade of liquidations will be avoided. People who buy these positions from a pool get a chance to buy it with a discount. We like to call it a trading insurance.

Q8 from Telegram user

You point out that Dexilon is CREATED BY TRADERS FOR TRADERS, does that mean that it will have each of the necessary tools so that any expert trader can function without problems? Or will they also offer facilities for the inexperienced?

It will have all the necessary tools. Our goal is that customers will not just feel pain from a transition form centralized exchanges, but get a relief)) Furthermore, we are building a pro interface as well, where users can set their GUI in any way possible. Users may place a bunch of data for different trading pairs.

Q9 from Telegram user

On many Dex Platforms,
Users have problems with checking their previous records and trades,

How will you provide this into your interface?

All data is stored in a blockchain and in a centralized data base as well, as we are in a hybrid model right now. We have tested it with half a trillion transactions and it survived. So I believe there gonna be no problems with that. What is important to mention is that data for trades in a blockchain is going to be partially hashed. It will be not visible which wallets have initiated a transaction. We need it in order to avoid back tracking of trading activity for our users

Q10 from Telegram user

What are the most exciting milestones during the construction and development of Dexilon? What is the team focusing on working on for the near future? Can you please share?

I briefly covered it, but building an asynchronius blockchain even with existing framework it tough ride. The problem of this industry that almost all data you hear about latency and TPS is not true. So you take something and try it. You find a problem and come to a conclusion that you have to rewrite almost all code. I hope our amazing team will survive this challenge and we will have some health left after we deliver this logic

Part 3 — Quiz Results

As usual, for the third part, Satoshi Club Team asked the chat 4 questions about the crypto project. A link to a Quiz form was sent into the chat.

English Telegram group:
Russian Telegram group:
Spanish Telegram group:
Telegram Channel:

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