Recap of the HyperDex Finance AMA with Blockchain Space
On Friday, March 11th, we had the pleasure to welcome to our Telegram chat:
Manfredi, One of the co-founders of the HyperDex ecosystem.
We asked him questions about the development of HyperDex Finance.
INTRODUCTION
Q~ Thanks for joining us today, could you introduce yourself and the team behind HyperDex Finance to our community firstly ?
A~ Hello everyone, it’s a pleasure to be here introducing our project. I’m Manfredi, one of the co-founders of the HyperDex ecosystem. A little bit about me: my background is in trading and software development for traders and asset management. The way I started my crypto journey was in 2016 by running a Ethereum mining company that is to this date running and very successful.
The team is led by me and the other co-founder, both coming from the traditional finance world in Europe. I am a traditional trader and software developer. Have developed more than 20 years of programs for trading as well as software for mining companies and started other companies not related to crypto as well. My other co founder is an important banker from Europe, that is extremely well connected to the institutional banking world and is bringing in his partners to the project from his world. The rest of the team is comprised of experienced people in crypto, marketers, designers, and advisors that have been in crypto since 2016, having participated and helped projects become unicorns in the past. Of course, this is not a guarantee of success, but our team only makes high quality projects and everyone in the team is aligned with making HyperDex a top 100 project, at least.
Q~ Tell us about HyperDex Finance as a project and it’s contributions to the ever expanding DeFi ecosystem ?
A~ HyperDex Finance is a DeFi asset management platform that makes crypto investing and trading super simple and easy.
In more detail: HyperDex simplifies complex investment types and offers them to users in the form of investment ‘Cubes’. There are currently four: Modular Cubes, Fixed Income Cubes, Algo Trading Cubes, and Race Trading Cubes.
Modular Cubes enable anyone to create and deploy their own trading strategies for others to invest in - all without prior coding experience!
Fixed Income Cubes offer a fixed return over a certain time period
Algo Trading Cubes are based on our statistical arbitrage trading algorithms and give a variable return over a certain time period.
Race Trading Cubes are a simplified version of crypto futures/perpetual contracts, enabling anyone to easily speculate on the price of crypto with certain amounts of leverage.
There are other features too such as our farm, swap, referral program, and more. But for the sake of time I suggest taking a look at our wiki or other documentation - you wont be disappointed!
Regarding our contributions to the DeFi ecosystem, we would like to say that the same team that started and ran the successful mining company, using green energy in Canada, is behind the DeFi platform HyperDex. We became aware of the opportunities of the market and especially of things the market has not yet solved. DeFi is a great success, however, there is still a vast amount of room to grow: We are solving the issue of having to use different DeFi platforms for different products, and soon after the initial BSC Chain launch our system will be multi-chain by building our platform on EVM protocols such as Fantom, Avax, Oasis etc.
And we have two other very big and important cubes that are coming that are getting a lot of demand from traditional finance: The P2P Loan exchange and the Governance/Nft Tokens. So in short, we want to be the DeFi for all, that does all. Not only for crypto experts, but from big banks to your grandmother, to your favorite crypto influencer, they will all find functionalities in HyperDex that they will benefit from. That is our vision, creating a DeFi ecosystem that will be used by experienced fund managers and crypto apes alike.
Q~ Can you give us a rundown on the $HYP tokenomics and it’s usecases ?
A~ The utility of our services was thought carefully over the last years, our team has a background in traditional finance and developed proprietary statistical arbitrage trading algorithms used in the Forex market. After some time, we noticed these same algorithms were applicable to the crypto market trading pairs.
This was the moment we were able to better understand the opportunities along with applications of this technology. After several months of programming, we finished one of the first ‘DeFi Asset Management’ platforms.
For the detailed explanation our tokenomics, I would advise you to check our tokenomics page:
But a brief explanation about the main points. The HYP Token is a utility token in the HyperDex ecosystem that will start with the functionality of an APY % booster in the different cubes and it will then evolve to a governance token with added utilities, for example staking and profit sharing.
When designing the tokenomics for HYP we put a lot of thought into liquidity. Therefore, from moment 0 we will ALWAYS have a lot of liquidity, and liquidity will never be an issue.
Liquidity was a big focus because one of the main problems other projects have is that they have medium to low liquidity in comparison to their emission rate. This creates a depression on their price and the overall ecosystem then starts failing as people leave the project.
Hyperdex solves this by building the system AROUND liquidity. Making sure that our price appreciates steadily along with our emission rate.
We have done many simulations with our tokenomics team trying to find the best way to mint tokens by not impacting the price too drastically and we came up with this simulation for our token model: Mint on reward.
This means that, HYP tokens employ a unique mint on reward mechanism. Instead of constantly minting tokens to satisfy an unsustainable model, HYP tokens are only minted under certain conditions whereby a reward denominated in HYP is due.
Again check our website, and check our graph on the future of our HYP token model. It increases over time and with our model, it should never stop.
For the roadmap, we can fully disclose now:
- 02/22: Smart contract audits complete
- 03/22: HyperDex Platform Launch
- 06/22: Modular Cube launch
- 09/22: P2P & HyperDex Loan Exchange
- 11/22: Multi-chain Development
- 12/22: Voting pool system (Governance Token and NFTs).
Other than this, we are planning listing on the main exchanges as well as some other surprises that we cannot announce until we have confirmed them, as well as a very heavy marketing campaign that will start very shortly.
Q~ What significant achievements has the team made so far ? Any upcoming plans and goals ?
A~ Our team completed all the smart-contracts coding and launched already the testnet platform version. We are about to launch the mainnet platform once, very soon, Certik completes our audit process. You can find our project on the Certik web page at:
(85% process completion).
Our goal is to launch prior to IDO, our platform, in order to start gathering investors/peers in our cubes by offering several options like fixed income returns on stable coins or main cryptos. With the current market scenario, offering a fixed income solution on Usdt or Busd with high rewarding rate ( 8% APY) is surely an attractive tool for the general DeFi user.
Our IDO should launch around the end of May 2022, once the platform is already functioning flawlessly for several weeks, so that everyone can try its functions.
Our ultimate goal is to attract several investors from the main or “old” financial industry, where their managers can create on our platform with the Modular Cubes the same strategies they have been using successfully for so many years, in order to grow our ecosystem soon to a unicorn status!
In fact, the Modular cubes are cubes that will be connected to more than 200 different indicators with our smart contract that traders, funds, hedge funds and retail users use to gain an advantage when trading. You will be able to create a strategy on the Modular cube, very easily. Once the cube with your personal strategy is created, you can send funds there and it starts trading automatically according to the strategy you posted. Creating strategies there, will be made easy so that you do not need prior coding experience. We are receiving institutional demand for this cube, which we haven’t seen in any other real DeFi project in crypto.
Q~ Are you planning to do any fundraises? If yes can you share with us information regarding the Pre-sale, TGE etc… How can we keep up with your updates ?
A~ Our platform itself was self-funded and built by us, with our token sale currently ongoing and IDO set, as mentioned above, for roughly the end of May 2022.
Yes, the fundraising will be still active for another approx. 60 days, we have a famous Swiss Asset Management group currently being very active on this process, as well as several other fund’s managers very interested in entering our project before IDO.
Since the platform is already launching due to the economical efforts of our Team, we will have more capital coming from the fundraising proceeds to be allocated towards marketing, development, liquidity, and more to ensure a concrete foundation for token holders and investors.
Additionally, the main partners that we have confirmed up to now are VIP players in the traditional finance and institutional finance area in the Monaco - Luxembourg - Switzerland area. We are also very happy to say that we partnered with Amber Market Makers who are one of the leading market makers in the space. As well as Market Across for PR marketing. We are looking to extend our reach with influencers and the best agencies in the space to make sure that everyone in the space not only hears about us but wants to investigate and be part of our journey. In the next two weeks we will be confirming some big names from the crypto and TradFi industries that we cannot disclose yet! But it is very bullish indeed!
For the pre-sale, you can find the registration link on our website under “ Private sale” or just click on the link here below:
You can keep updated by entering our Announcement channel and our main channel on telegram:
QUESTIONS FROM TELEGRAM
Q~ Do you have AUDIT certificates or are you also working to AUDIT your project, to make it more secure, trustworthy and reliable?
A~ Yes we have an audit certificate ongoing with certik, please check our project’s status on the certik website:
Q~ Will HyperDex support multiple chains and wallets in the future? For now the platform can only be accessed only on Metamask, if you switch your network to the Binance Smart Chain (BSC) testnet.
A~ Yes, Hyperdex will be a multichain platform, for now all the. protocols using EVM ( Ethereum virtual machine), such as Avax, Fantom, Oasis etc. We are launching on the binance smart chain first, yes for now you can connect to our platform via Metamask (with a nano ledger as well).
Q~ Can you mention some salient features of your project? Why is it the best project to invest in for new users?
A~ First, anyone will be able to build its own strategy with the modular cubes and have Hyperdex execute it for them, and gathering new assets from users on that particular strategy if it proves to be successful (as it will be listed with a ranking system on our platform). Additionally, We offer three types of investment possibility, a fixed income (on crypto or stable coin), an ALgo trading (fully managed account strategies), and a Race trading (a derivative easy trading tool).
Q~ Can I earn a passive income from your project. Are there any staking options available for this? What are the benefits of holding tokens in the long run?
A~ Yes you can earn passive income, especially on stable coins such as Busd or usdt, for about 8% per annum, by staking the coins on the chosen fix income cube. The benefit of holding hypercubes is to be able to transform a cube into a hypercubes, doubling your reward on the (for example fix income) cube chosen. So, if the usdt reward was 8% APY, if a cube gets converted into a hypercube, the user will gain an additional profit on the hypercubes staked to transform the cube into hypercube, up to 20% APY.
Q~ Are you planning on attracting non-crypto investors to your project, because a project’s success draws new investors who have yet to enter the crypto market. What are your plans for getting the word out about your initiative in non-crypto circles?
A~ Yes, our plan is to attract several institutional investors coming from traditional finance, that’s were the real moeny is. To achieve this , our goal is to become the E-toro of DeFi, were all asset managers can find on our platform, the proper tool for their strategies. It goes without saying that the more users are in our ecosystem, the more hypercubes will be created, as they are a great incentive to double easily any of our product returns. By doing so, there will constantly be a tremendous push towards the upside for the rise of the HYP value!
CONCLUSION
Thanks everyone, it was great to be here today!
It’s really nice having the HyperDex Finance project in here!!!
You can check out their Website for more details. You can also follow them on Telegram and Twitter to keep up to date with all things relating to HyperDex Finance.
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