We started working on a launchpad which checks against those contracts.Later on we realized making full a Defi As A Service platform which has token minting, token locks, LP locks and airdropper.
MaticNews x DexPad AMA Recap and Transcript
MaticNews: Welcome back to MaticNews! Another AMA based on a multichain project after the big success of past ones! First of all, are you satisfied of the results reached?
DexPad: We really love coming back to you guys. as you are one of the very few groups who has authentic users compared to other groups...
MaticNews: A pleasure, we always do our best and we will always do so!
For the new audience, let’s start with your and your team's introduction! What are your past experiences and roles? How many members currently work on DexPad?
DexPad: So our current team consists of 3 people on tech side (full time).
Me Dex Bruce: Having total 11 years of experience in developing softwares. Left my full time job of Mobile Tech lead for Focusing on DexPad and Photonswap.
Dex Clark: Having 9 years of experience in Development.
Dex Oliver: Having 2 years of frontend experience.
All 3 are from India.
On our marketing side we are using services of Undefined Media, Expert in Crypto marketing from Europe.
Tullio, PirateParrot and Cyrus are doing excellent job in managing our project.
MaticNews: That’s a very nice introduction, especially for the team size, perfect.
Most importantly it's nice to see that you took a professional agency for your marketing area. Many projects do the mistake of not investing the right amount in that area.
Please give us a brief introduction of PhotonSwap and DexPad!
DexPad: DexPad was born out of frustrated experience where certain decentralized launchpads allowing even honeypot contract on their platform.
We started working on a launchpad which checks against those contracts.
Later on we realized making full a Defi As A Service platform which has token minting, token locks, LP locks and airdropper.
So if your project is lets say a validator and you want to launch your token or airdrop them. Then you don't need to learn solidity or anything. You can come to DexPad.
- Mint your token
- Presale it
- Lock Token and or LP
- Airdrop them if you wish.
So basically its a no-code platform for crypto projects.
One such example is ICY-CRO. They minted their main token on DexPad and are using our lockers and airdropper tool frequently.
Photonswap is our multichain fork of Uniswap V2. where liquidity is directly provided on it from DexPad presales.
MaticNews: I like that your concept is made as an all in one ecosystem, where potentially you can use it for everything. Let's go more in depth!
Will you tell more about the use case of your native tokens? What utility do they have in your ecosystem?
DexPad: We have total 2 tokens currently live on cronos chain
- DxP our token for DexPad
2)PHOTON our token for Photonswap
You know farming tokens like PHOTON, UNI, SUSHI are there to bring more rewards.
DxP has its utility in Staking/Locking. where you get guranteed allocations on all the presales during 1st hour which is exclusive to DxP stakers.
On top of that we distribute 100% of the tokens we receive as a fee from presale which is 2% of the raised amount.
Later on we are planning to add DxP as governance on Cronos and will keep DxP only on Cronos for considerable time.
Photon will have their multichain variants but not tide with each other until it reaches price symetry. so there could be possible that Photon on Cronos could be at much different price then Photon on Kava.
MaticNews: Before we pass to EVMOS side, are there any updates on the Polygon Side that you would like to mention?
DexPad: We are currently exploring possibility of Bringing Photonswap on Polygon with NFT staking as a feature which is not much available on dexes on Polygon.
Also with Genesis mining, the community will be the actual owner of the protocol. With NO presale, private sell etc.
DexPad is already live on Polygon.
We are looking for great projects on Polygon.
MaticNews: Speaking about EVMOS, tell us more on this new chain expansion!
DexPad: When we launched our project on Cronos. We got very good response being early projects on it.
Since then along with established chains. We are focusing more on new chains too.
For EVMOS the idea we liked about no private sale or seed sale of EVMOS token and thats why we liked to explore.
We deployed our dex on same day as EVMOS launched but we were in little dilemma over launch of Photon over there.
We have planned to genesis launch however we are always open for the feedback of the community if they like liquidity bootstrap etc.
We plan to launch farms on EVMOS within a week.
MaticNews: When will be it be possible to start to stake to receive yields?
DexPad: One mistake we did with Photonswap on Cronos was, not giving enough time for Stakers and we had to face so much fud and some allegations of time rug.
So this time we will provide atleast 24-48 hours before reward starts.
We are discussing emission schedule and from this time onwards you don't have to unstake your LPS when farm ends. We will refill the same farm so you can continue getting rewards.
Expect Farm launch in a week on EVMOS
And if KAVA chain gets its bridge up with USDC, DAI then it Farms will go live there soon.
MaticNews: Speaking of your launchpad, which are the projects that you actually launched?
DexPad: We launched the best project of Cronos till now. MMF. Hardcap was reached within 38 seconds.
Then we launched Crocos which got HC within 1.20 seconds
MaticNews: Do you have any anti-honeypot mechanism?
DexPad: Yup. so by default we support only tokens minted on DexPad.
If the project didn't mint token on DexPad then we manually check the code before allowing them to create a presale. This is how we prevent any honeypot.
MaticNews: Which are your security measures to have the safest launch as possible for the presales?
DexPad: For the safest launch. We have written presale contracts in a way that minimum 50% of the raised amount needs to be provided as a liquidity. Good projects usually provide more raised amount as a liquidity.
And LP pair needs to be locked for minimum 1 month.
For example one upcoming Presale on DexPad is ART by ICYCRO team will provide 100% of raised amount as a liquidity and will lock LP for 5 years.
MaticNews: Furthermore, talking about the NFTs, would you like to tell us more about your plan on how you would like to reach that market niche?
DexPad: Regarding NFT. We are working on NFT staking implementation where people can stake their NFT for getting rewards from projects such as if you are holding Viking NFT of ICY team then you can get rewards in ICY. Its under development and will soon be available once all the testing is done. We are working on some ideas where people can easily mint their own NFT on DexPad and list them on different NFT marketplace.
Keep in mind any new feature on DexPad comes on all the supported chains on same day. Like Cronos, Polygon, AVAX, BSC, EVMOS and KAVA.
MaticNews: Would you like to add something more on tokenomics side?
DexPad: On the tokenomics side. We do have all necessary information available on whitepaper at the following link.tree
The only change you will notice soon will be about tokenomics of Photonswap where there will be more on farming as there is no private sale or seed sale of it.
MaticNews: Besides this, how is revenue being generated for the project itself that could be used on future development?
DexPad: Currently in this bear market we are getting very little revenue from DexPad in terms of Token creation and minting fees. We are hopeful that more and more projects launch their token on DexPad on multiple chains then it will help us to grow.
So we are running referral program as well for people who bring some good projects on DexPad. We provide them 25% of the fees we receive. So I would encourage you guys to help is launching more quality projects and get your referral income from us.
MaticNews: Talking about the security side, the clichè question that we ask in all AMAs: Are there any audits planned?
DexPad: For Photonswap it is not required because you can verify the deployed code is exact replica of the Uniswap so any audit for Uniswap is the same for Photon. We are currently doing a discussion for DexPad though as the DexPad is much bigger platform, many times we get very long response so we are in touch with few.
MaticNews: Talking about the future, do you have a road map or long-term plans that you can share with us?
DexPad: So our long term plan is to make DexPad and Photonswap as Omni Protocol for all EVM compatible chains like harmony, near etc.
MaticNews: And the last question will regarding your opinion: What do you think about the current market moment?
DexPad: Though we are preparing ourselves for the crypto winter.
We will continue to build during this time and we will see so many genuine protocols will survive this winter for the next bull run.
MaticNews: Thank you for joining us!
DexPad: Great to have you as a host for this AMA, thank you MaticNews.
Jun 7, 2022