We held a live AMA with BD, Maya of UrDEX Finance on 25th April 10:00 PM (UTC+8). Here’s the recap for those who missed it.
JH | Shin Chan: Good Evening everyone, Let’s Welcome Maya, BD of UrDEX Finance from UrDEX for joining the ama today🥳🥳🥳
Before the ama start, please Introduce yourself and your UrDEX to our community.
Maya | UrDEX Finance: I am Maya — BD of UrDEX Finance. I have 7 years of experience in cryptocurrency and financial services with more than 5 years of experience in Community Management for big global communities.
About UrDEX Finance, it is a community-driven project that aims to solve the liquidity problem by enabling disparate forms of liquidity to connect with markets in a decentralized way. It offers a comprehensive range of products and services, in which the three products we focus on the most are: an Decentralized Exchange, a Perpetual Decentralized Exchange, and a Launchpad.
🌟 Some core features that make UrDEX stand out from other DEXs:
- Fully Decentralized and Non-Custodial
- Real yield → Cash flow
- Zero Price Impact Trades powered by Chainlink oracles
- Programmatic Risk Management
- Innovative liquidity solution
- Fair Launch and DAO-Driven
- Loyalty Incentives
- Strategic partners Pool
Here please take a look at the project overview to have a general understanding of UrDEX Finance 👆
UrDEX’s partners include: Space ID, ParaSwap, Mises Browser, PERI Finance, Parami Protocol, xHashtag, TrantorDAO, HatsFinance, ArbitrumNewsDAO, Puffverse, BSCStation, InfiniteLaunch, BrandPad, RazrFi, and many KOLs, community channels.
UrDEX Finance has successfully completed IDO on the multiple Launchpads: BSC Station, InfiniteLaunch, UrDEX Launchpad, RazrFi and BrandPad.
After the IDO, users can start trading $URD on Camelot — the Arbitrum native DEX. Shortly after that, the URD/USDT pair will be opened for trading on MEXC — top CEX with millions of global user 🎉
⏰ Camelot DEX listing: April 26th, 14:00 UTC
⏰MEXC Global listing: April 26th, 15:00 UTC
Telegram Live AMA Begins:
Q1: Great backing and partnerships in the crypto market might bring huge benefits to new projects. During this point, can you tell us about the partners and backers of UrDEX Finance?
Maya | UrDEX Finance:
After a long time of incubation and several months of operation, UrDEX has been making significant strides in the DeFi ecosystem, establishing partnerships with some of the most reputable players in the field.
The collaborative partnership was established with Space ID, Mises Browser, Paraswap, BSCStation, InfiniteLaunch, RazrFi, BrandPad, PERI Finance, Parami Protocol, xHashtag, TrantorDAO, Puffverse, HatsFinance, and many other KOLs, community channels.
These collaborations can somehow speak to the quality and potential for growth of the project, through which UrDEX has built a strong foundation to leverage and drive the further development of its platform. By combining their efforts, UrDEX and its partners are working towards a common goal of building a decentralized and interoperable financial system that can serve a global user base.
Q2: As You said that There will 0 Price Impact Trades,
May I know more about this?
How will it work?
Maya | UrDEX Finance:
UrDex allows for executing large trades at the mark price without any price impact. However, during times of high volatility, there may be a spread between the Chainlink price and the median price of reference exchanges.
Mark prices are shown next to the market name, and the chart displays the average of the two mark prices. When opening long positions, they are initiated at a higher price and closed at a lower price. Conversely, when opening short positions, they are initiated at a lower price and closed at a higher price.
You can learn more details about the project on its official website (urdex.finance) and Docs (docs.urdex.finance)
Q3: Regarding $URD IDO, Have you considered the possibility of a massive sale after IDO? what is the strategy to maintain the value of $URD after the IDO event is over?
Maya | UrDEX Finance: Shortly after IDO event, We will launch DAO Staking URD for holders and LP Farming for investors who provide liquidity to UrDEX. This will encourage users to hold $URD for a long term with more opportunities for to get involved and earn rewards.
UrDEX will balance by reducing inflation, stabilizing token prices, and limiting quick sell-offs. Details on the mechanisms and profits from DAO Staking/ LP Farming will be updated immediately after the launch of these two features.
Please stay tuned with us for the latest announcements:
Q4: can you please share with us What is the revenue model of the #UrDEX platform? Are there any other incentive mechanisms for #UrDEX traders and investors?
Maya | UrDEX Finance:
Revenue Model of the UrDEX Platform:
Position fee for perpetual trading: 0.1% of position size (open/close)
Liquidation fee: $5
Dynamic borrowing fee (interest rate for leveraged/perpetual trading)
- Traders pay a borrowing fee every hour. The fee is calculated dynamically based on the asset utilization rate: Borrowing fee (per hour) = (assets borrowed) / (total assets in pool) * 0.01%
- Maximum borrowing fee: 0.01% per hour (at 100% utilization)
Maintenance margin: 1%
Liquidation occurs when the debt of an open position reaches 99% of the user’s collateral. Any leftover funds after liquidation will be sent back to the user’s wallet.
Swap fee: ranging from 0% to 0.6%
- The base swap fee equals 0.2% for non-stablecoin swaps (i.e. USDT>ETH, or BTC>USDT) and 0.01% for stablecoin swaps (i.e. USDC<>USDT). Note that the protocol incentivizes the swapping of assets that are underrepresented (in terms of pool weight) by dynamically reducing the swap fee and vice versa.
Q5: 1. Do urdex invested by any Vcs?
2. Can you show us your tokenomic?
Maya | UrDEX Finance: UrDEX is doing a fair launch with no presale. To ensure the sustainability of its tokenomics, UrDEX has implemented a fair and transparent token distribution system.
The upcoming launch of the UrDEX project will only involve a single public sale round at a fixed price of $0.08. During the public sale round, 60% of the tokens will be unlocked at the time of the token generation event (TGE). The remaining 40% will be subject to monthly unlocks over the course of the following 4 months.
The absence of a private sale or presale ensures a fair launch for all interested parties. This approach will also lead to a lower market capitalization of just $480,000 based on the public sale price.
To prevent inflation and maintain token value, UrDEX has also implemented a token-burning mechanism, where a portion of the tokens earned from trading fees is used to buy back and burn URD tokens, reducing the overall token supply and driving up token value.
UrDEX’s utility tokenomics details
🔹Total supply: 100,000,000 URD
🔹Public Sale price: $0.08
🔹Initial Circulating Token: 6,000,000 URD
🔹Market Cap: $480,000
Q6: If I am using UrDex Platform,
Then What can I do to Earn URL Loyalty Tokens?
Maya | UrDEX Finance:
UrDEX offers a loyalty program that rewards traders with loyalty tokens based on their trading activity. This function rewards and encourages trading activity, increasing platform user involvement.
A very simple incentive mechanism: For every dollar traded on the UrDEX platform, one URL token is earned.
To foster sustainable growth, we aim to keep our community members engaged and incentivized. As part of this effort, we are proud to introduce URL loyalty tokens, which are earned by traders based on the USD volume of their swaps and closed trading positions. These tokens are automatically distributed and can be converted to URD tokens after a 24-hour vesting period. This incentivizes traders to keep using our platform and allows them to share in our success as we grow.