Recap of AMA Session: Exolix and Dash
04 Oct, 2023
On September 27th, Exolix, a secure and privacy-focused crypto exchange service, and Dash, an open-source blockchain and cryptocurrency focused on offering a fast, low-cost global payment network, held a joint AMA session on Twitter, giving users the opportunity to learn more about our projects.
In this recap we have collected the most interesting questions from the participants and our answers to them. So, keep reading, if you missed our event.
Questions from Twitter users for Dash Team
Question 1. I read that one of the ways in which users would be able to stake the DASH token is by becoming a masternode owner, so how can we become masternode owners and what are its requirements? What are the benefits of actually staking the DASH token?
Answer: Becoming a Dash Masternode owner involves several steps:
- Acquire the Required 1000 DASH
- Set Up the Masternode Server
- Install Dash Core Wallet
- Configure the Wallet
- Fund Your Masternode
- Start the Masternode
- Monitor and MaintainParticipate in Governance
Question 2: Which national Laws are Dash pay regulated by? Does Dash pay have any licenses? If yes, how can we access this license? Lastly, how do you make sure you comply with all regulations of different countries under your jurisdiction?
Answer: Dash, like other cryptocurrencies, operates within the legal and regulatory frameworks of the countries in which it is used. The specific regulations that apply to Dash may vary from one jurisdiction to another.
Question 3: Which country jurisdiction does Dash pay support for its crypto purchases? Would users from Africa be granted the right to make crypto purchases using your platform? Lastly, how much tax is charged per transaction while using your platform to make crypto purchases?
Answer: Dash provides extremely fast transactions with the lowest fee possible. Any service can accept Dash and become a Dash merchant. All you need to do is to download the Dash wallet here: https://www.dash.org/new-merchant-kit/
Question 4: What are the competitive advantage of the Dash pay platform over other similar platforms which offers the same services? What are your plans for a wider audience and global acceptance?
Answer: To name a few, these are: Speed and Low Fees, Privacy Features, Decentralized Governance, Funding for Development, Global Acceptance, User-Friendly Wallets, Community Engagement, Evolutionary Roadmap.
Question 5: Maintaining user anonymity is a key feature. How do you strike a balance between anonymity and compliance with regulations, especially in regions where cryptocurrency regulations are evolving?
Answer: Dash is not a privacy coin. It's more like Bitcoin, with the privacy option which is only up to a person using it.
Question 6: A strong community not only brings interesting ideas to the project but also attracts larger partners. So how is initiative planning to build its community? And is there a plan to recruit people with Blockchain experience to the initiative team?
Answer: We're always open to newcomers, new ideas and initiatives! Go and join our Discord channel
Questions from Twitter users for Exolix Team
Question 1: How does "Affiliate Program" of Exolix work now? Is it ongoing with better benefits than previous program periods?
Answer: We are constantly working to enhance our affiliate program. For now, we provide three options for our partners:
- API - Integration of exchange flow
- Referral links
- Exchange widget
You can find more details here: https://exolix.com/affiliate-program
Question 2: Would you explain how the execution time of floating/fixed exchange rate on the Exolix exchange, does internet connection affected them?
Answer: The transaction processing time for fixed and floating rates on Exolix depends on the volume of pending requests. Our fixed rates are locked in for 25 minutes, ensuring that you receive the agreed-upon amount if the transaction is completed within this timeframe. This helps minimize the impact of potential internet issues and ensures a smooth and secure exchange process.
Question 3: How far Exolix have implemented AI solutions into its processes?
Answer: We are constantly working on expanding the capabilities of our service and introducing innovations for the convenience of our users, so the implementation of AI solutions is certainly something we are actively exploring. Stay tuned for updates as we continue to enhance our platform!
Question 4: Will it be possible to utilize your platform services by using it to make payments for goods/services in Africa especially in Nigeria? What are the transaction speed involved while making payments using your platform.
Answer: At the moment, our platform only provides cryptocurrency-to-cryptocurrency exchange services. Transaction processing takes from 4 to 15 minutes, depending on the volume of pending requests.
Question 5: Are there any upcoming features or developments that users can look forward to on the Exolix platform, such as new services or improvements to existing ones?
Answer: Yes, of course, we are constantly developing and working to improve our platform. We are now actively working to expand the number of cryptocurrencies available for exchange on Exolix, to add a fiat function to our service, to develop high-quality and convenient mobile applications and many other functions that can help our users make their cryptocurrency exchange experience even more convenient.
Question 6: Could you provide a detailed overview of the security measures in place to safeguard users' funds and personal information, particularly given the emphasis on anonymity?
Answer: Exolix is a fully secure and anonymous exchange service created by experts in the blockchain industry. Our customers trust us because Exolix:
- uses strong security protocols;
- uses an SSL certificate to transmit any information;
- is protected from DDoS attacks;
- successfully works since 2018;
- has more than 1000 customers every day;
- partners with other successful blockchain projects;
- does not have a deposit storage.
Question 7: Since starting the project, did you achieve everything you planned or did you have to make drastic changes to your main idea at the start and what makes your project better than your competitors?
Answer: We set ambitious global plans and steadily work towards achieving them. We continuously update and enhance our development strategy. Exolix boasts several key features that set it apart from other exchange platforms, including:
- 500+ cryptocurrencies available for exchange (including BTC, ETH, XMR, USDT, BNB, XRP, XTZ, and other popular and trending coins).
- Instant exchanges: transactions take 4 to 15 minutes.
- Cross-chain swaps: users can exchange cryptocurrency from one blockchain for the same one on another blockchain with just a few clicks.
- Fixed and floating rates: with the fixed rate option, users are protected from market fluctuations, as the rate is fixed for 25 minutes; with the floating rate option, users get the actual rate at the time of the transaction.
- Anonymity: users do not need to register, go through the KYC procedure, or provide personal information to complete an exchange.
- Transparency: users can track every stage and status of their transaction.
- No maximum exchange limit: users can exchange any amount.
- The platform operates worldwide.
- Qualified 24/7 customer support service
Question 8: Is your platform suitable for crypto beginners? Or does it only limited for professional users?
Answer: Our service was created by a group of blockchain industry experts. They aimed to provide the most user-friendly and convenient cryptocurrency exchange platform that can be used by both experienced users and newbies.
Question 9: Does Exolix have a token? How can i utilize it in your ecosystem?
Answer: No, Exolix does not have its own token.
Question 10: How does Exolix ensure compliance with relevant cryptocurrency regulations and anti-money laundering (AML) measures, considering the international nature of cryptocurrency?
Answer: Exolix ensures compliance with relevant cryptocurrency regulations and anti-money laundering (AML) measures, considering the international nature of cryptocurrency. You can find detailed information about our AML/KYC policy here: https://exolix.com/aml-kyc
Question 11: Where we can see the implementation of Exolix exchange mission, which is to make an exchange process fast, easy and secure?
Answer: We try to carry out our mission with dignity, as our service provides fast and secure exchanges between various cryptocurrencies, and we are constantly working to improve our interface to simplify the exchange process and make it as convenient as possible for all our users.
Question 12: As we all know without proper marketing and capital infusion, project dies, how do you convince us you have adequate marketing power and capital to push this project to the top project?
Answer: Exolix has substantial in-house reserves and has been offering exchange services without any limits since its inception. For over 5 years, we have been processing significant volumes.
Question 13: How do you plan to spread awareness about your project in different countries where English is not good?
Answer: We aim to raise awareness about our project in countries where English may not be well-understood by offering our website in 16 languages, ensuring accessibility for a global audience.
Question 14: What security measures are in place to protect users assets. Coinex was hacked recently and fears are in user’s minds. How safe are users funds with you?
Answer: At Exolix, the security of our users is a top priority. We employ stringent security measures, including strong encryption protocols and protection against DDoS attacks, to safeguard users' assets. Additionally, Exolix is a non-custodial exchange and we do not store our users’ funds, reducing the risk of misappropriation.
Question 15: Partnership in crypto sphere is key to the solidity of every project. Which companies are you currently partnering with and why them? Which countries are your targeted regions to wider your communities?
Answer: We operate globally, with a primary focus on collaborating with European countries. We partner with many reputable crypto projects, such as Monero, Edge, Exodus and etc. You can find the full list on the main page of our website.
Question 16: Can you briefly describe your partnership with Dash so far and upcoming partnerships?
Answer: We are considering different options for cooperation and providing a quick and easy exchange process for the Dash community, we are now at the stage of discussing further steps and will soon be able to notify the community about this. Stay tuned!
Question 17: What kind of earn products does Exolix have that we users can benefit from. Does Exolix have services like launchpads , launchpool , staking And different earning products? What is your flagship product as most exchanges boast of been the 1st copy trading and the rest?
Answer: At Exolix, our primary focus is on being a reliable and efficient cryptocurrency exchange platform. While we don't offer services like launchpads, launchpools, or staking, we do provide an affiliate program that allows users to earn by referring others to our platform. You can find more information about our affiliate program and start earning by visiting this link
Question 18: What is the minimum KYC requirement to participate in your activities?
Answer: We do not require to go through KYC process, thus anyone can make an exchange without providing any personal data.