Crypto Wizards AMA With Position Exchange

Guests: James And MJ

Introduction:

Q1) Can you give a overview about 'Position Exchange' .What popped up in your mind to create such a platform in this space?

Ans:Position Exchange is a Decentralized Trading Protocol operating fully on BSC. The protocol offers easy and accessible Derivatives Trading in which users can trade Crypto Derivatives Products fully on-chain transparently and trustless, with high security, and privacy.

Unlike in Traditional Derivatives Trading, in on-chain trading, there is no broker required. Instead, settlement automatically takes place on-chain, where the terms of the smart contract are fulfilled. The intersection of DeFi and derivatives is a gamechanger, bringing yet another borderless, low-barrier, financial instrument to the world.

Recently, many Decentralized Exchanges have been developed, such as Uniswap, PancakeSwap... However, there is still a lack of Decentralized Trading platforms that bring on-chain Derivatives Trading with the same experience and all the advantages of a Centralized Exchange like liquidity, UI-UX, Limit Order etc.. This is where the idea came from.

Q2) So what are your main features and advantages that discern you from other Exchanges?

Ans:The core feature of Position Exchange is the Derivatives Trading Protocol, which will offer on-chain perpetual futures Trading on Binance Smart Chain and the V! Testnet was just released few days ago for community trials. Along with it, we offer Swap, Farming, Vaults, Staking and an NFT feature where you can cast and stake NFT cards to generate rewards.

We are also implementing DAO interface where POSI holders can vote and shape the project’s future. Position Exchange is trying to create its own Ecosystem allowing users of all interests to use the platform and be a part of the POSI community.

What sets us apart from other projects is our long-term vision. Position Exchange is trying to create its own Ecosystem and to be global. We are trying to push the concept of decentralization to its limits by creating a truly community-driven project where the governance is 100% transferred to the community.

Q3) How has the experience and background of your team been effective in the success of your project so far?

Ans:The team members and collaborators behind the project are multidisciplinary and have extensive experience in Programming, Smart contract & Blockchain, Finance, Trading and Crypto industries along with a high understanding of economic conditions.

All what have been achieved so far until now is the fruit of a strong dedication from both the Team and the Community. I would like to remember that this is a 100% community driven protocol where every single member has the ability to decide of the future development of Position Exchange. That is our main strength and that’s what would take POSI to the Top of DeFi in the coming months

The Team has proven since the start the ability to achieve such great things in short time. We have proved that we are ready to face challenges and fulfill all our commitments towards the community!

Q4)Now Share us about your token, What are the some of utlities of $POSI Token in Your Ecosystem? And if possible share to us the Tokenomics of $POSI

Ans:POSI is the native utility token to Position Exchange empowering its Ecosystem.
Unlike most of the recent tokens created by other exchanges mainly for crowdfunding purposes and for reducing the trading fees, POSI comes with a different and unique approach.

All the fees and revenues from the protocol will be distributed back to all POSI holders by a mechanism called Buy-Back and Burn fully on-chain. This would mean, just by holding POSI you’re a stakeholder and will be able to receive a share from the revenue.

Along with the mentioned, holders can get reduction on protocol trading fees, increase their POSI balances through the RFI technology, Stake in vaults, Farm, cast NFTs and Vote through our Governance interface.

You can check POSI detailed Tokenomics in the following link : https://docs.position.exchange/posi/posi-tokenomics

Q5) Could you share a bit about security and also what benefits you provide to incentives user’s choosing your Platform?

Ans:We understand that security is the main priority and most important concern in the DeFi industry. We would never put user’s funds at risk. We have conducted an Audit with Certik: https://www.certik.org/projects/positionexchange you guys can go check it.

We are monitoring the security of our contract and the protocol constantly through our experimented security Team. We are also collaborating with several cyber-security experts to ensure a smooth functioning and the maximum security for our users.

We are implementing a bug bounty program as well to engage the community in the security process of the project all over the time.

Live Q&A:

1)Do you have any Coin Burn / BuyBack systems or any $Token Burn plans to increase the value of Token & attract Investors to invest?

Ans:Yes we have Buyback and Burn mechanism. It’ll be activated once our Derivatives Trading Platform is in Mainnet. 100% of the revenue will be spent on that.

DTP has launched and is in Testnet right now. You can take a look:
https://testnet.position.exchange

2) Do you have any NFT plans and its integration ahead in the roadmap? Also do you have any passive income options and incentivization reward for a long term hoder?

Ans:We offer the highest APY in the DeFi in farms and vaults with auto-compounding. We have special POSI NFTs that you can cast, stake and generate rewards with an APY up to 15000%

https://docs.position.exchange/products/nfts
https://docs.position.exchange/products/farming
https://docs.position.exchange/products/vaults

3) Can you tell us about your plans for long-term? what you are currently working on?and what strategy will be used to expand globally?

Ans:Position Exchange Team has come with a unique vision which is to build the most decentralized and community driven derivatives trading protocol, where the community is the heart of future development.

For more insights about our Roadmap, please check :https://docs.position.exchange/roadmap/position-exchange-and-development-plan

4) 💥Do you have Whitepaper if yes, please share it with as secondly do you have plans for pre-sale? Now where can we Join it?

Ans:https://position.exchange/whitepaper.pdf

5) Since NFT is popular nowadays, is there a plan for NFT integration?

Ans:Position Exchange is innovating in terms of NFT. Very special uses cases and a possibility to stake at the highest APY in the DeFi. Up to 15000% 💎🔥 Check it out here : https://docs.position.exchange/products/nfts

6) Do you have any plan for burning tokens in the future to reduce the supply of the token and increase its investment attractiveness thanks ?

Ans:Position Exchange is implementing a unique Buy back and Burn Mechanism with the Derivatives Trading Protocol. We will use 100% of the trading fees and revenues for the purpose. This would give a boost to POSI price periodically and reduce the overall circulating supply. This will help attract long term investors and guarantee a sustainable growth for the POSI token.