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 IX Swap and our guests were @AOIXS and @Darrenkhye. The AMA took place on 6 October.
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 community
Gold Rocket | Satoshi Club: Hello again, dear Satoshi Club community! We are pleased to announce AMA with IX Swap
Paul Mont | Satoshi Club: Today’s guests are @AOIXS and @Darrenkhye! Welcome! Great to have you here!
Gold Rocket | Satoshi Club: Hello and welcome to Satoshi Club,
Aaron Ong @AOIXS and Darren Wong @Darrenkhye
Darren: Hi everyone, glad to be here !
| IX SWAP — WILL NEVER DM YOU FOR FUNDS: Thanks for having us today!
Great to be here in this amazing community!
Gold Rocket | Satoshi Club: Nice to e-meet you guys
| IX SWAP — WILL NEVER DM YOU FOR FUNDS: [
Paul Mont | Satoshi Club: The pleasure is all ours, we’re super excited about this AMA
Gold Rocket | Satoshi Club: How are you doing?
| IX SWAP — WILL NEVER DM YOU FOR FUNDS: As are we
Darren: Doing great! Can;t complaint either with the markets pumping today
Gold Rocket | Satoshi Club: We are really excited about upcoming AMA with you guys
Paul Mont | Satoshi Club: Haha right
Gold Rocket | Satoshi Club: Yeah
Let’s start! Introduce yourself please. How did you get to be involved in crypto & IX Swap
Tell us please about your position in IX Swap
| IX SWAP — WILL NEVER DM YOU FOR FUNDS: Sure!
Hi everyone! My name is Aaron and I am one of the Co-founders of IX Swap.
My background has primarily been in traditional finance and banking working in investment advisory across multiple large private banks. During my time in the banking industry I was extremely fascinated by the crypto industry and started trading and arbitraging crypto markets back in 2017.
Gold Rocket | Satoshi Club: hot crypto 2017
… reminds me of 2021, doesn’t it?
| IX SWAP — WILL NEVER DM YOU FOR FUNDS: The crypto markets were extremely volatile but offered a plethora of opportunities and offered an open architecture which was the complete opposite to what I was experiencing at the bank. After years of being fed up and frustrated with traditional banking practices, I left the bank and pursued my interest in the blockchain space working with digital securities, security tokens and crypto. IXS & Security tokens were a natural evolution for me given my experience in traditional finance and love for crypto.
We’re just getting started this time.
Darren: Hi Everyone! My name is Darren and I am the Head of Asset listings and strategic partnerships here at IX Swap. Given my past experience in finance and real estate, along with co-founding 2 start ups in tech and in blockchain, the road that led me here was inevitable. My background in finance provided exposure to a vast selection of products from within investment banking and private banking working with both large corporates and high net work individuals. This allowed me to understand both the efficiencies and inefficiencies in the financial system.
| IX SWAP — WILL NEVER DM YOU FOR FUNDS: 2017 ended too quickly
Darren: During my first start-up stint in VR for real estate, I discovered the use of blockchain that fully fascinated me, which led me to my 2nd start up. Setting up my Blockchain Consultancy and accelerator since the later part of 2017, allowed me to see and unlocking the potential of blockchain in various industries, which natural let me back to want to solve the inefficiencies in traditional finance and to be able set precedence to create a whole segment for the future finance.
With the STO market heating up more in the past year than before, we are excited to be guiding the space to new heights!
Buckle up for the exciting times ahead!
I will be leading the team in listings and partnerships
way too quickly haha,, didnt even give STOs a chance to shine
Gold Rocket | Satoshi Club: great background
Paul Mont | Satoshi Club: Love the tag teaming
How did you meet each other for the first time?
Darren: it was inevitable with the common love of crypto and STOs
Gold Rocket | Satoshi Club: Really promising
Paul Mont | Satoshi Club: Hahaha let’s call it fate then
Now onto IX Swap, please give our Satoshi Clubbers a brief introduction about the project
Gold Rocket | Satoshi Club: And also we would like to know more about your team. Who is on the project team core?
| IX SWAP — WILL NEVER DM YOU FOR FUNDS: So in the simplest way we could explain it, IX Swap is the “Uniswap” of the STO/TSO industry
That said its a little more complicated than that
IX Swap will be the FIRST platform to provide liquidity pools and automated market making functions for the security token (STO) & tokenized stock industry (TSO).
The platform will be the first DeFi platform to facilitate the trading of security tokens through licensed custodians and security brokers which will provide actual ownership and claim over these real world assets.
Darren: Regarding our team. We are currently over 20 team members now; the teams’ profiles are available on Linkedin and our website
We were cautious when hiring new team members because we wanted the right mix of people from both the traditional and the new crypto world to build this out. The IX Swap team consists of entrepreneurs, capital markets, legal and blockchain experts. We are also publishing our job applications on Linkedin so be sure to follow us there!
Gold Rocket | Satoshi Club: the direction really has no outspoken leaders yet! I hope that you will become them
Paul Mont | Satoshi Club: Thank you very much for sharing, I always feel relieved it comes to a project being open and transparent — not a thing to take for granted in the crypto space
Gold Rocket | Satoshi Club: How long does it take to develop a project? What plans do you have for the future? And what can we expect from IX Swap
| IX SWAP — WILL NEVER DM YOU FOR FUNDS: Yes we are doing something new and completely different from the regular projects you see in the crypto space
Actually the story of IX Swap goes way further back. We have spent over 6 years developing the STO ecosystem infrastructure to build an end-to-end security token issuance company, and IX Swap then became the next stage of this STO infrastructure that we embarked to build. We started the IX Swap project early in the year and have been hard at work developing the platform.
The birth of IX Swap came as a necessary infrastructure solution to close the loop for the STO ecosystem.
Well we have lots of exciting announcements that will unveal over the coming weeks
Here are current plans . feel free to have a look at our litepaper and website
| IX SWAP — WILL NEVER DM YOU FOR FUNDS: IX Swap Beta version of the platform will be released in 4Q2021 and expect the platform to be fully functional by 1Q2022.
Darren: really excited for these
Paul Mont | Satoshi Club: This infographic is worth more than a thousand words
Gold Rocket | Satoshi Club: Tell us about main benefits of IX Swap. How is it different from others?
Darren: It’s great that you have asked this. This is actually quite relevant due to the recent news that Binance and Uniswap had taken down some tokens because they did not have security licenses and these tokens were considered securities/security tokens. Just because you create a synthetic version of an asset doesn’t mean they lose their tag as securities.
The main difference between us and our competitors is that we are working with licensed intermediaries and trading with actual security tokens that have claims over real world assets and not just synthetic positions. When you are trading securities, a license will be required. This is how securities are dealt with now and that’s just the way it is.
However, because we are integrated with licensed intermediaries we have the ability to trade these tokens classified as securities and these exiled tokens are welcome to find a home at IX Swap.
Paul Mont | Satoshi Club: Right on, IX Swap might potentially be filling a huge market gap at the moment
Gold Rocket | Satoshi Club: many thanks for the clarification! now all the advantages are obvious to me
Paul Mont | Satoshi Club: Also the lack of availability of STOs on Binance and UniSwap means that there is currently very little liquidity in the market.
Great introduction guys, thank you very much
Gold Rocket | Satoshi Club: That’s right .. lack of liquidity is a real problem.
| IX SWAP — WILL NEVER DM YOU FOR FUNDS: Indeed!
Paul Mont | Satoshi Club: We will be fleshing out all the details with our community questions next!
Gold Rocket | Satoshi Club: Thanks for great introduction, we have several questions which were selected for the 1st part. Ready to start?
Paul Mont | Satoshi Club: Are you guys ready?
| IX SWAP — WILL NEVER DM YOU FOR FUNDS: Bring it!
Q1 from Telegram User @Pavel_Jarosh
As per your Litepaper, IX Swap will be creating the first liquidity pools by allowing STO token holders to stake their tokens to become liquidity providers. This means that the success of the whole project depends on the community, as much customers you get the more sophisticated and powerful IX Swap system we get. What is your “Plan B” once the number of STO token holders is not growing or even drops for a certain period of time? How would you fullfill your “tanks” with liquidity? Thank you!
| IX SWAP — WILL NEVER DM YOU FOR FUNDS: I think you meant STO instead of CTO.
Paul Mont | Satoshi Club: Haha yeah, let me correct the typo
| IX SWAP — WILL NEVER DM YOU FOR FUNDS: The STO market currently does not have any market makers or a highly liquid secondary market and moreover, provides incentives for providing liquidity which is currently not available in the securities market. IXS plans to start liquidity mining programs in the future to attract STO token holders.
Gold Rocket | Satoshi Club: Lol
| IX SWAP — WILL NEVER DM YOU FOR FUNDS: The strength of the STO markets as a whole also relies heavily on the education and adoption of the financial sector. This means going on the ground and having close relationships with institutions that are forward thinking that want to participate and build the space with us . We have very good relationships with the institutions in Singapore, which is also a global financial hub, some of which have been speaking to us for years in the development of STOs. Our partners are also close with the regulatory authorities here, and are building blockchain products and platforms for the financial sector in the regulatory sandbox.
Hence, we aren’t only targeting investors of crypto or STO’s but the actual issues of these securities to paving the way to a tokenized future and financial markets
Darren: And thats how STOs are > than CTOs
Paul Mont | Satoshi Club: Hahaha
| IX SWAP — WILL NEVER DM YOU FOR FUNDS:
Paul Mont | Satoshi Club: Considering what you’re building,do you guys believe that ICOs and IPOs will be replaced by their digital, on-chain equivalent in the future?
| IX SWAP — WILL NEVER DM YOU FOR FUNDS: IPOs definitely!
Paul Mont | Satoshi Club: I can definitely see how STOs are more accessible to smaller investors and firms and that’s a huge advantage in favor of your value proposition
| IX SWAP — WILL NEVER DM YOU FOR FUNDS: Security token offerings are the IPO of the future
Q2 from Telegram User @Highpee
You plan to introduce On-chain governance capabilities for managing and implementing changes within the IX Swap protocol using $IXS. As a regulatory conscious and licensed token focused project, to what extent will users be able to vote for changes and implement proposals on your protocols? What are the decisions that you will allow holders to directly influence, suggests, manage and vote on? How will your governance be carried out and how will you ensure a fair representation of every ones opinions in the execution of platform policies?
Darren: The token holders will be able to vote on rewards, benefits, IXS supported pools and we would look to allow the token holders to have more influence over the governance as the platform develops.
As you have mentioned we are dealing with regulatory bodies and as such, not all aspects of the company will be governed by the token holders.
On top of that, as we are developing the economic models for each asset class that IX Swap supports, holders will be able to influence the economic models that are able to configure that confines which the asset classes operate under, allowing holders to dictate fair market, to reduce the number of inefficiencies and arbitrage opportunities as each asset class evolves through the Defi space. This will allow STOs on IX Swap to always stay relevant.
good to go sir
look out for further announcements too!
Paul Mont | Satoshi Club: Great
Other than governance, we know you have crafted quite some tasty utilities for holding the $IXS token
Could you share with our Satoshi Clubbers some of the $IXS use-cases?
Gold Rocket | Satoshi Club: sounds interesting
Paul Mont | Satoshi Club: If you have a tokenomics paper/infographic to share, I guess this is the perfect moment to do so
| IX SWAP — WILL NEVER DM YOU FOR FUNDS:
Just before we get into that, the IXS token is a utility token NOT a security token. It will be freely available to trade on any cryptocurrency exchange or DEX.
So here are the features of the IXS tokens –
IXS token holders will be able to stake their tokens on IX Swap to receive an interest rate as income. Platform earnings in the future will also be distributed to IXS token holders
IXS token holders will also be able to stake their tokens for governance related to the activity of IX Swap — this will allow token holders to take part in the active growth and decision making of IX Swap
IXS token holders will also receive priority access to new STO issuances on the InvestaX primary STO issuance platform.
| IX SWAP — WILL NEVER DM YOU FOR FUNDS: On top of this, The IXS tokens also have a distinct deflationary economics function to ensure value is created for our token holders the more the platform is used.
5% of Fees will be sent to a permanently locked vault reducing the overall token supply.
5% of Fees will also be sent to a vault to purchase IXS tokens.
Rewards earned on the platform will be distributed over time to ensure token inflation is reduced.
These factors will create a deflationary effect on tokens the more the platform is used.
Paul Mont | Satoshi Club: Lovely, thank you very much!
| IX SWAP — WILL NEVER DM YOU FOR FUNDS:
Gold Rocket | Satoshi Club: you are really very cool! and it’s unique
Btw next question comes. and it will be a continuation of this conversation if you do not mind
| IX SWAP — WILL NEVER DM YOU FOR FUNDS: Thanks
Q3 from Telegram User @Rotoxy
IX Swap has set up an IL Insurance mechanism to reduce the effect of Impermanent loss on liquidity providers. This include 8% from ecosystem fund, 5% from trading fees and 50% from penalty. How is this insurance shared among individual Liquidity providers in situations where Impermanent Loss actually occurs?
What happens to the fund if IL does not occur?
| IX SWAP — WILL NEVER DM YOU FOR FUNDS: Yes that is correct! We will have a cap on payments to any particular pool as to ensure the funds are sufficiently distirbuted and will be dependent on bunch of factors relating to the asset trading within the pool ie. volatility presented (IL tends to increase as volatility increases), liquidity provision, arbitrage opportunities.
With regards to your query on what if IL doesnt occur the IL fund will remain untouched if IL does not occur
This would be a great scenario
Gold Rocket | Satoshi Club: It’s really make a sense
as we can see, you have thought through all the scenarios very well
| IX SWAP — WILL NEVER DM YOU FOR FUNDS: Yes lots of brain power going into this project
Gold Rocket | Satoshi Club: Thanks for your great answers
Ready for the next question?
Darren: lets go
Q4 from Telegram User @Tahsinahmett
Today, communities can not only provide interesting ideas to projects, but also bring them in large partnerships. What is the importance and value that IXSWAP project gives to communities? What ways do you follow to increase the awareness of IXSWAP in different regions and spread your project more? It is a big market for non-crypto and non-English-speaking projects, IXSWAP is from this market. What are they doing to benefit?
Darren: Ah! one for the community !
Paul Mont | Satoshi Club: The community is foundational, isn’t it?
Darren: Definitely!! IX Swap aims to be a global platform that is all-inclusive and jurisdiction agnostic. Plans to grow non-english and non-crypto communities are already under way, both for translation to the local community, and also to understand the issues they face locally with the current traditional financial system, be it availability to products or to assisting the unbanked.
Growing the communities organically takes time, building a solid community that gives us good feedback and value add takes even longer as the members of the core team wish to interact and hear the voices of our community.
Paul Mont | Satoshi Club: Gotta love the long-term view behind your answer
Gold Rocket | Satoshi Club: This is very commendable
Darren: Hence, really grateful for our core community especially the ones that have been with us from the start! We have always encouraged the communities to share where we lack presence and engage the community in the manner of games and giveaways whilst educating the community to take on the future of finance.
So if we aren’t already, we hope to be in your local jurisdictions soon!
Gold Rocket | Satoshi Club: Mass adoption will be much more comfortable with you
Darren: Always be grateful to those that support you
Gold Rocket | Satoshi Club: Gold words
Thanks for your answers
Q5 from Telegrams User @Josegamboac
Having a security, does not change its underlying, in which they still have to be within the limits of the current legal frameworks. IXSWAP builds the bridge between traditional finance and cryptocurrencies, since both worlds must be understood to be able to integrate towards the improvement of each industry. How hard in terms of law-abiding and financial efforts, is it for IXSWAP to be built online within regulatory constraints to allow the financial sector to grow into the future of finance? Do you believe this will be the key, differentiating factor against your competitors? How heavily will you rely on this aspect as a competing strategy?
| IX SWAP — WILL NEVER DM YOU FOR FUNDS: Yes that is correct, paper, token, it doesn’t matter, what we’re dealing with are securities and we are bound by the securities laws based on our licensed partners ability to operate.
The IX Swap platform is being built to be regulatory compliant and seeks to combine the innovations of the financial and technological efficiencies to build a tokenized future of finance.
As being platform agnostic, IX Swap’s reach is global, however with that said, our gatekeepers for checks and balances relies on our local licensed entity or entities that connect with our ecosystem to allow their STO to be ported to our custodians to be facilitated on the IX Swap platform.These STO’s will already be regulatory compliant as they are already launched in their jurisdictions as a capital markets products. Hence each of these STOs incorporate the legal framework of where the security is being issued from, with the limitations of who can also trade them, based on the KYC and whitelist provided by each regulatory body.
With this structure, IX Swap will be massively scalable through connecting with as many licensed partners to allow platforms now and in the future to connect in an environment that is regulatory compliant to grow into the future of finance
| IX SWAP — WILL NEVER DM YOU FOR FUNDS: [ Sticker ]
Paul Mont | Satoshi Club: Great
I personally believe that being fully regulatory compliant on a worldwide, international scale will give you an edge over *any* competitor in the market
Gold Rocket | Satoshi Club: perfect answer
| IX SWAP — WILL NEVER DM YOU FOR FUNDS: 100%
Paul Mont | Satoshi Club: I concur, thank you very much!
This is the last question for this very first part of the AMA, then we’re heading into the LIVE part of the session
Q6 from Telegram User @ItsMelissa3
A few days ago you announced a strategic cooperation with Alpha impact, which is a copy-trading social media platform. What common goal do you have with this partnership? What benefits does IX Swap receive by partnering with Alpha Impact? How does a market leading copy trading platform and a market leading digital security DEX complement each other? How can both ecosystems benefit?
Darren: Interesting this came up. Seems like your community is up to date with our developments!
Alpha Impact, being a copy trading platform, has a large community of traders that would provide growth to the IXS Community.
We are increasing our user base of traders & investors as they would be able to access our platform to execute these trades. This will create overall awareness of our platform and grow our community organically.
We are providing a completely new asset class to the copy traders and other users of the IX Swap platform would be able to “copy” the trades or investments of more successful traders
Gold Rocket | Satoshi Club: smart idea
Darren: The more we grow and expand with partners that add value to the ecosystem, the stronger the adoption of STOs will be!
Gold Rocket | Satoshi Club: Absolutely
Paul Mont | Satoshi Club: By the way, safety is so important for the users as well. Have you been audited — or is the auditing process underway (or planned for the near future) as we speak?
| IX SWAP — WILL NEVER DM YOU FOR FUNDS: We will be constantly going through audits as we develop the platform
We will not be releasing any products without proper audits
We had done one with Zokyo just recently
Paul Mont | Satoshi Club: A sound 100 score — thank you for sharing guys
Safety is a very felt concern in the crypto space, it’s really great and relieving to read that you’ve aptly anticipated the issue and have already taken care of that
| IX SWAP — WILL NEVER DM YOU FOR FUNDS: Yes and I think one more important thing to note is that we are using 3rd party custodians for our STOs
Which adds an extra layer of security to our system
Part 2 — live questions from the Telegram community
Q1 from telegram username @sirdefi
I read that $IXS Token holders will be able to stake their holdings to receive a portion of the exchange fees By when do you estimate this service to be enabled? Will the rewards be $IXS only? Or will we be able to earn rewards from some STO?
Darren: At the moment staking and liquidity mining is already up on our platform. Feel free to check out the different pools and APR. When we have STOs ready on the platform, rewards will mostly be in IXS. This is due to the constrains of a security, but possibility for rewards in STO, should the user be whitelisted by our licensed partner and issue. Though right now our native token and rewards and fees is on IXS, concentrating the demand for our token for hodlers
Q2 from telegram username @Cheriemike
We know that Binance ditches ‘stock tokens’ as global crackdown widens from countries due to the fact that the exchange was not licensed to carry out regulated activities and users have up until October 14 to sell their tokens.So does IX Swap have any legal authorization from various countries?Is there any country restricted from using IX Swap?
| IX SWAP — WILL NEVER DM YOU FOR FUNDS: The key issue with binance and their stock tokens was they were not a regulated company but they were dealing with tokenized stocks which are regulated products (securities). IX Swap is dealing with licensed broker-dealers in counrties where they are permitted to deal with the securities. The key highlight of this really is Binance’s acceptance of security tokens and this is really just the start of a new asset class on the blockchain
Q3 from telegram username @Robotliker1
On what blockchains does your project will support in the future? will you support more blockchains to gain mass adoption ?
| IX SWAP — WILL NEVER DM YOU FOR FUNDS: IX Swap is blockchain agnostic. Meaning that we will be connecting with any protcols that support or want to build an STO ecosystem. We started on ETH because 99% of all STOs in the market right now were built on ETH. We expect many more STO issuances across multiple chains going forward and we will be integrating with them as our platform develops
Q4 from telegram username @Karoceh
How will IX Swap get the actual price of STOs? Will IX Swap build its own Oracle? And Where is your reference to get STOs prices?
Darren: Before i answer this question, i would like to highlight that there are differernt types of digital assets. there are traded securities and non-traded securities.
With traded securities, we already have partner oracles that we have tied up with and announced. For these, pricing is taken from our established partners/ oracles that provide data feeds for pricing, allowing these traded securities to be traded with little inefficiencies in a regulated defi environment
for non-traded securities, our AMM models on our platform is geared towards price discovery in a fair market. This allows for the underlying to grow and find its market price in the open market or anyone that has access to our platform. In this case, we will be creating a new set of Data feeds for STOs! This is where IX swap will also be a data centre to feed back to the open market and oracles for this new asset classes
Q5 from telegram username @dorutay1
I have read that IXSWAP will use third party protectors to store investors’ Assets on their behalf. So why would you use a third-party custodian for the protection of assets, what would be the benefit of this method?
| IX SWAP — WILL NEVER DM YOU FOR FUNDS:
Q6 from telegram username @ForidHasan38
Any info about token? Do you plan to implement it?
Darren: Definitely, we have already launched and have our tokens listed on kucoin and uniswap!
please do refer to our litepaper and website. It is all stated ixswap.io
Q7 from telegram username @Gemshunter22
Where to buy $IXS and Have you done any CEX Listings of IXS ? What plans do you have for exchanges listings ?
| IX SWAP — WILL NEVER DM YOU FOR FUNDS: IXS is currently available on Kucoin and on Uniswap. There will be more trading venues going forward so stay tuned
Q8 from telegram username @Cheriemike
In your litepaper it is mention that X Swap is the last piece of infrastructure
needed to breathe life
to the STO/TSO
industry.So how many STO/TSO exchanges have you provided liquidity solution for globally?What assistance will you render to this industry in terms of their trading volumes?
| IX SWAP — WILL NEVER DM YOU FOR FUNDS:
We expect a similar effect on the current STO market which portrays many similar characteristics to how DEXes were like prior to AMM models
Q9 from telegram username @Nonerlike
Is your project suitable for beginners who are new in crypto or for traders only? Where can I learn more about IXSWAP?
Darren: This is why we are created IX Swap and these new asset classes in the first place. Many new individuals come on to the blockchain space and get burnt and slaughtered by the volatility of the unregulated market.
This is where securities come in to ensure that these assets are facilated in a regulated environment to allow new users to access regulated assets in forms of tokens, that are issued by real world businesses and use-cases. This ensures that new individuals are not blindly coming in to unregulated products but products vetted by licensed entities. This is so much easier for new in crypto to be familiar with in a safer environment
please check out ixswap.io
Q10 from telegram username @Rakshhitx5
What is the full form and meaning of the “IX” swap in the name?
Darren: This actually comes from rebranding of our digital assets platform called InvestaX that has been up since 2015
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.
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