Recap of the Entropy AMA with Blockchain Space

On Monday, November 1st, we had the pleasure to welcome to our Telegram chat:

Bella, The Operations Manager at Entropy.

We asked her questions about the development of Entropy.

INTRODUCTION

Q~ Thanks for joining us today Bella. Please start off by introducing yourself to the Blockchain Space community and your role in the team?

A~ I’m Bella and I’m the operations manager of Entropy.

Q~ What is Entropy, can you briefly introduce it to everyone ?

A~ Entropy is a Solana public chain-based decentralized encryption derivative trading and service platform, which mainly specializes in spot transactions, derivatives and loan services. With a strong focus on three ecological sectors including DEX, Loan and Swap.

Entropy is aimed to design more open, transparent and safer financial products in virtue of decentralization technology. It is dedicated to creating a public, transparent, efficient and innovative decentralization trading platform and provides traders with decentralization trading services in real sense by integrating the strength of both CEX and DEX.

Q~ Why did Entropy take the course of a decentralized exchange ?

A~ There are two reasons. Firstly, the CEX has been occupied by the mainstream exchanges such as Coinbase and Binance, Developing a new CEX means we have to face the strangulation of mainstream exchanges, and to scramble the cake in a niche market with other second-line exchanges . Therefore, Entropy chose the field of DEX, in art of war, this is a strategy to avoid the sharp edge of our enemies, but also as an expansion of DEX market. Decentralized exchange is still in Blue Ocean period, waiting for brave adventurers to explore.

Secondly, the prospect of a DEX is better than a CEX. Looking from inner side of the crypto world, the security issue of CEX raises investor’s concern, which is a bomb to be detonated at any time. Only DEX enable users to master their assets ownership. As a result, the DEX user base is gradually expanding. We believe that in the future not so distant, DEX will be the people’s choice for the crypto exchange or even for any financial activity of humanity..

Q~ Entropy, a new star project in Solana ecology, what are its advantages and highlights ?

A~ 9 Advantages.

  • Entropy is the first platform which aggregates perpetual contracts, decentralized margin trading, derivative products, in comparison with other exchange with unitary trading option, Entropy features a wider application scenario.
  • Entropy DEX is an open source, transparent. The decentralized underlying protocol brings infinite possibilities for Entropy’s future application. Entropy is compatible with other application scenario on Solana chain.
  • Entropy’s native code is independently developed by advanced crypto engineers. Which features an extreme technical entry barriers for others, from the aspect of security and controllability.
  • Entropy takes the weighted index from Serum, Huobi and Binance to ensure fair and transparent pricing on Entropy’s future trading.
  • Smooth operation, coupled with convenient grid trading components which makes Entropy’s UI experience even better than CEX.
  • The transaction fee is close to zero. Entropy innovates and integrates the Optimistic Rollup model of V2 and Layer2, which greatly improves the scalability of the system and reduces the gas fee during the interactive trading of options, at the same time Entropy builds the necessary infrastructure reserve for the high-frequency trading required by next outbreak of the options market.
  • Entropy adopts the industry-leading AMM algorithm, which greatly improves the liquidity and the utilization rate of funds.
  • Entropy adopts a perfect dynamic interest rate model, which flexibly improves the capital efficiency of risk management funds.
  • Thanks to the million-level throughput capacity of Solana, the underlying architecture enable Entropy to feature high scalability, strong robustness, easy operation and maintenance upgrade, etc., which also greatly saves the cost of ecological expansion and provides strong support for the ecological extension of Entropy in future..

Q~ As its known to all, most of the decentralized exchanges are based on Ethereum, Why choose Solana as the underlying public chain of the platform ?

A~ The main reason is that Solana features extreme low gas fee and ultra high transaction rate. This is the result of Solana’s adoption of PoH(Proof of History) mechanism, which is different from other public chains. The mechanism solves the problem of low efficiency rendered by complete synchronization of timestamps of blocks in distributed network. By allowing each node to generate local timestamps, data updating and data status processing do not need to wait for the synchronization of the whole network, ensuring shorter transaction verification time and to improve transaction processing efficiency and security.

Therefore, the PoH mechanism can handle up to 65,000 transactions per second, which is much higher than the throughput of 100 transactions per second in BSC chain and 15 transactions per second in the Ethereum chain. With the lightning speed and low gas fee, the average transaction cost of Solana is 0.00025 USD/transaction, which is about 80,000 times more efficient than Ethereum. which significantly lowered the entry barrier for DeFi users, this is the reason of Entropy chose to be one of the crucial part of the Solana eco-system.

Q~ Can you share with us detailed information on the tokenomics of $ENT ?

A~ ENT is the token of Entropy, total circulation: 1 billion,

5% for community treasury

8% for retrospective mining

10% for liquidity mining (for market maker)

2.5% for USDC staking pool and 2.5% for insurance staking pool

3.5% for ecosystem incentive

8% is for the first round of investors

10% is for the second round of investors

16% is back to the current team and consultants

4% are future teams and consultants of users

30% for transaction mining (Largest share)

1% for IDO.

However, the largest proportion (30%) is for transaction mining, of which 30 (300,000,000ENT) of $ENT tokens will be distributed to contract traders in five years, There are 130 issues in total and the length of each issue is 14 days. Each issue will distribute 2,301,369 ENTs. The token obtained by each user will be determined by the proportion of the user’s transaction fees and positions contributed to the overall transaction fees and positions.

QUESTIONS FROM TELEGRAM

Q~ First thing I noticed is that Entropy_Dex doesn’t have a website. This may deter many investors who believe that credible projects must have a functional website. I would like to know when you intend to launch your website online?

A~ Entropy will go live in November.

Q~ I wanted to do some research but couldn’t find the website, when do you plan to launch the website ?

A~ Entropy will go live in November.

Q~ As regards the use of Entropy protocol for lending purposes, I would like to know the amount of collateral that would be accepted in relation to the loan requested i.e. what percentage of the loan should my collateral cover?

A~ ENT is the token of Entropy, total circulation: 1 billion,

5% for community treasury

8% for retrospective mining

10% for liquidity mining (for market maker)

2.5% for USDC staking pool and 2.5% for insurance staking pool.

3.5% for ecosystem incentive

8% is for the first round of investors

10% is for the second round of investors.

16% is back to the current team and consultants

4% are future teams and consultants of users.

30% for transaction mining.(Largest share)

1% for IDO.

Q~ There’s a growing number of DEX’es out there, why should we choose Entropy, what will you be offering that can’t be found in most DEX’es?

A~ Entropy is a Solana public chain-based decentralized encryption derivative trading and service platform, which is mainly specialized in spot transactions, derivatives and loan services. With a strong focus on three ecological sectors including DEX, Loan and Swap.

Q~ Can you tell us a bit about the Cross-Chain Swaps in the Entropy platform? What is its unique things and advantages?

A~ Entropy is aimed to design more open, transparent and safer financial products in virtue of decentralization technology. It is dedicated to creating a public, transparent, efficient and innovative decentralization trading platform and provides traders with decentralization trading services in real sense by integrating the strength of both CEX and DEX.

CONCLUSION

Day7️⃣🔥🔥🔥The first NFT airdrop before ENTROPY was applied to the mainnet🔥🔥🔥

🚀🚀🚀Entropy is ready to meet you on the mainnet in November, to thank everyone for your love and follow to the Entropy project,Entropy airdrops 🔥500 NFTs for all community users.

⏰Time: 10:00am Oct 26th - 10:00am Nov 2 UTC

Rules

👉Join Entropy Community: https://t.me/entropy_official

👉Join Entropy Channel: https://t.me/entropy_Channel

👉 Follow us on Twitter: https://twitter.com/entropy_dex

👉Join Entropy Discord Community: https://discord.gg/dVjvdgwvf4

👉Submit the form: https://forms.gle/F9TiZ8NyX6PasFyS9

👉👉For more planning, see Google Forms👈👈

It’s really nice having the Entropy project in here!!!

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