Hello, Satoshi clubbers Another AMA took place in Satoshi Club and we would like to introduce to you the AMA session with our friends from OVAL Exchange and our guest was . The AMA took place on the 24th of February.
Hello dear Satoshiclubbers Welcome to our AMA session with OVAL Exchange
Hello, Satoshi Club and welcome to our AMA with OVAL Exchange!
Our Guest today is @Oval
Welcome to Satoshi Club
Hi everybody. Nice meeting you here!
Hello, we are Glad to have you here, how are you doing today?
Welcome to Satoshi Club!
I’m doing fantastic and I hope everybody here’s having a great day as well.
Really excited to see you here today!
Let’s start our AMA
Let’s GO!
Yeah let’s do this
So can you introduce yourself to us how you got into crypto and how OVAL Exchange started?
Hi guys, this is Owen. In the past 10 years, I have been active in Wall Street on derivatives pricing/trading/structuring/risk management.
In the past year, crypto derivatives volume has surpassed US$5 trillion, an increase of 98.1% YoY. With the growing usage and trade volume in Decentralized Exchanges (DEXs) within the crypto community, the demand for reliable DEXs has reached an all-time high. We see this as an opportunity and that’s why we decided to build Oval Exchange.
Impressive
So what is OVAL Exchange all about?
100% truth!
Oval is a decentralized exchange for users to exchange risk exposures precisely and capital-efficiently. It is the DeFi way to trade Derivatives: to hedge, to speculate, to arbitrage, all on-chain.
While there are already Derivatives solutions for crypto, most of them are either centralized or insufficient to meet the needs and demands of potential DeFi users. Simply speaking, the ultimate solution to exchanging risk exposures in the crypto world has to be something original and organic within the blockchain. And that’s exactly what Oval exchange stands for!
How many team members do you have currently working on this project?
We have around 30 members total we are professionals in the fields of economics, quantitative trading and solidity programming.
Dream team! Is the team fully anonymous?
Yes, as a Dex we encourage our team members to stay anonymous.
Well understood
Thank you for the introduction
We will now like to proceed to community questions are you ready?
Absolutely
Q1 from Telegram user @iceVermithraxx
Most Exchanges Prefer to use the trading mining model and then buy back the platform coins through fees however this model generally does not survive for long and will soon decline hence OVAL will implement an innovation on this existing model to protect the price of the token and the deflation mechanism to achieve long-term development. Can you elaborate on the innovation which OVAL aims to implement into the existing model to protect price of tokens? Can you share on how this innovation will work to protect the price of $OVAL token and propotionally cause price appreciation?
This is a very good question! Our income from trading fees will be subject to a 10% OVAL buyback and then burned. There is no max number of tokens we’d burn in perpetuity. By doing this, we can protect the price of OVAL token and propotionally cause price appreciation.
Could elaborate more on fees that you apply?
I will also like to ask if this buyback will continue for as long as the project exists and will this percentage remain the same?
Yes, it applies to all the derivative trading fees that generated on Oval Exchange. And the buyback will continue for as long as the project exists with the same percentage.
Thank you for your answers
Ready for the next question now?
Q2 from Telegram user @UniqueVicky
Just some few moments ago you announced the staking development is almost done and you are very close to official launching with up to 2,000% Stake on OVAL. This is a great development. So please can you explain your staking mechanism to us? How much is the minimum time for which we can stake? Can we choose to unstake any time? Do you have staking options like the higher the tier one stake the better the reward? Some projects offer staking reward with a reward token instead of the native token,what about OVAL Exchange? What benefits will users who stake the OVAL token receive?
That’s right our staking program will officially launch very soon. There’s no requirement for minimum time and you can unstake anytime you want. But of course the longer time period you stake, the more rewards you’d be able to earn. We do have plan for different tiers and the details will be released soon. Users who stake Oval token will receive our native token OVAL.
Do you also plan some additional advantages to stakers? Like airdrops for ex.
We also have plans to grant stakers governance rights and VIP rates for transaction fees.
Great! This should be noted by our community!
Thank you for your answers
Will you like to proceed to the third question now?
Yeah what’s the next question
Q3 from Telegram user @Sunny_steel
Hello, Oval Team! I have been passing through your roadmap and I have noticed that by the end of 2022 you target to add Polygon and Avalanche networks reaching 50+ trading pairs online. You are also mentioning to be adding a cross-network bridges, however there is not much information available if the bridges have already been tested and work properly. Could tell us more about it? Besides of that, please also explain the fees applied for cross-chained operations. Will they be higher once customers use it in complicated and long buy/sell models through multiple chains? Thanks!
Our team has been doing a lot of testings on the bridges and we believe we have everything we need to complete the whole process. For cross chain operations, we guarantee you that the fees will be much lower compare to others in the industry.
Can you share your roadmap with us?
Yes for sure
Oval V1 Launch
Users can trade perpetual contracts in Oval Exchange V1 at BINANCE Smart Chain
Oval V2 Launch
Support Ethereum network
10+ trading pairs online
Oval V2 provides extreme capital efficiency by supporting several key new features, such as stop loss, take profit and liquidity-providing.
Layer 2?—?Polygon integration
Oval will expand to Polygon to scale up our implementation and provide users with a real DeFi derivative solution without burdening users with high fees or long confirmation times.
Provide secure futures trading services with up to 120x leverage.
20+ trading pairs online
Avalanche network support
50+ trading pairs online
Function of merge and split position modes
Support Isolated Margin Mode and Cross Margin Mode
Thank you for sharing this
Ready for the next question now?
Q4 From Telegram User @chinyere2020
OVAL, a decentralized derivatives exchange, is currently online with the BSC development ecology and will gradually complete the cross-chain ecology to become a leader in the field of decentralized derivatives”. Can you give more information about the distinctive features of OVAL that will enable it become a leader in the field of decentralized derivatives? What are the main benefits/advantages that users will enjoy as a result of using OVAL over other top decentralized derivatives exchanges that are currently available in the market? Can you also explain the process that is followed before a token is listed on OVAL?
We are going to offer more competitive rates and better products. Our current target market is users on the Binance Smart Chain, as well as users of derivatives trading in the Ethereum ecosystem. Our marketing department is working hard to ensure that we’ll have a successful listing. At this moment, we are having positive conversations with some Tier 1 exchanges.
Great.. so what about projects that intend to use your exchange?
Do they have to meet any requirement?
I see the OVAL V1 is planned for Q1 this year. Have you already fixed a particular date for that?
We’ll carefully evaluate the projcests that intends to use our exchange. We’ll listen to opinions from our community cause we believe Oval Exchange users are our most valuable assets.
Oval V1 is already live online. We welcome you all to come and try at oval.exchange
Thank you for your answers
Thank you! Satoshiclubbers, do not waste your time to explore OVAL!
Let’s proceed to the next question
Q5 From Telegram User @Ask4unik
OVAL will support USDT/BUSD=1:1 cross collateral model,which requires two kinds of contracts,BTC/USDT and BTC/BUSD.What major advantage does having a cross collateral model have on OVAL?It is said that the liquidity of OVAL is expected to be further enhanced after this model goes live.Is this model live already? If not, when are we expecting it? Can you tell us the use cases of this model?
You also said BTC,ETH,BNB, etc will also be used directly as cross collateral, which is also one of the key features of the platform.In what quarter of the year will this be implemented?
The benefit of our cross collateral model is that investors will have the opportunity to leverage their existing assets, tap into equity, and potentially finance multiple deals at once?—?or move quickly on a hot or high-risk property. You don’t have to come up with new collateral or funds; you can use investments or assets you already have.
This model is not live yet, and we plan to make it happen before end of Q4.
So will only the three mentioned assets be used or will you add more assets to the list?
The mentioned assets are our initial plan and we’ll add more assets to the list based on what the community desires.
Thank you for your answers
Ready for the last question for this part now?
Yup can’t wait
Q6 From Telegram User @Rozielyna
I read that Oval Exchange Will Officially Start Retroactive Mining Rewards Airdrop Program and the Promotion Period: 18th Feb 2022–18th Mar 2022. Can you please highlight more on the Rewards Airdrop program? How can users participate in the program? What will be the requirements to qualify for the $OVAL airdrop? When and how will the winners be announced? And how long will it take for the rewards to be distributed ?
Yes, you can participate by depositing at least 10 USDT to Oval Exchange and make a transaction to qualify for $OVAL airdrop.
10 addresses will be randomly selected everyday for 10,000 $OVAL airdrop. Total 100,000 OVAL per day.
Winners will be announced weekly at Oval community group and Oval official twitter account.
Rewards will be automatically distributed within one month after TGE.
Do you have other planned community events ?
Thank you! Could you also share the tokenomics of $OVAL?
You bet. There’s gonna be a lot of exciting events ahead to make sure everybody can engage.
Ultimate Total Supply (Fully Diluted Total Supply) = 10,000,000,000. This is the number of OVAL after all the mining tokens are mined out (in decades)
80% to community, unlock over a period of two years. (25% for oval staking rewards);
10% to treasury, unlock over a period of two years;
10% to Marketing & Partnerships, including KOLs, exchanges, media
Thank you for your answers
80% to Community! This is where the people are placed to the TOP!
With this we’ve come to the end of part 1, and will like to proceed to the second part
Our users will Ask you their questions directly are you ready for them?
Get ready for the storm!
Bring it on
Chat will be opened for 120 secs
We open chat for 120 sec only. Once we close it back please choose 10 questions to answer!
Q1 from Telegram user @JaviSuBs
Is it possible to trade on OVAL Exchange anonymously?
Yes, there will be no KYC requirement so it is totally anonymous for everybody
Q2 from Telegram user @JaviSuBs
Where can we find up-to-date information on the OVAL Exchange project….. Can you share the official OVAL Exchange information channels to keep up to date with updates and find out when the participation program will be launched?
https://t.me/OvalExchange
Github: https://exchange-oval.gitbook.io/oval.exchange/
https://twitter.com/Oval_Exchange
Q3 from Telegram user @Jossylard
Can you list 1–3 killer features of this project that makes it ahead of its competitors?.What is the competitive advantage your project has that you feel most confident about?
unlimited liquidity
0 slippage in trading
cross-chain ecosystem
Q4 from Telegram user @mercy_global
You said that In next quarter, you will support several key new features,
What features will be that ?
Can you please tell about that?
Stop loss, take profit, liquidity-providing and much more to come
Q5 from Telegram user @sara_12131
Since NFT is popular nowadays, is there a plan for NFT integration?
Not yet, but I understand that NFTs are real big these days and we’ll definetely look into that.
Q6 from Telegram user @Dino916
How much trading volume is there on your platform now and how much volume do you expect to in the next 1 year?
Our daily trading volume right now has surpassed $200 million, and we hope to double it up in the coming quarters.
Q7 from Telegram user @Sourava12
So , Users and Community Loves GIVEAWAY and AIRDROP, So Is Any
GIVEAWAY Or AIRDROP Is LIVE On the OVAL EXCHANGE Platform ?
Yes, come and join our Retroactive Mining Rewards Airdrop Program which is happening right now.
Q8 from Telegram user @Arnavx5
Many exchanges have Liquidity probelm. So how you have solved this problem?
You don’t have to worry about this one my friend. We have managed to provide you with unlimited liquidity.
Q9 from Telegram user @rinnguyen
How many tokens are currently listed on your platform and in which pairs can you trade them?
There’s a lot of popular tokens listed now such as SOL, CAKE, GALA, XRP, BNB, etc,. and we plan to add at least 10 more pairs before the end of next quarter
Q10 from Telegram user @DREAMLESS675
As far as I know you have done a lot of AMA, my question is, what do you want to get from so many AMAs and what is your goal with the community? Do you consider the community a fundamental role in the project?
Community is definetely our most important role in the project. By doing AMAs, we hope to attract more users to come and join us cuz we’re trying real hard to build something great here?—?oval.exchange
As usual, for the third part, Satoshi Club Team asked the chat 4 questions about the crypto project. A link to a Quiz form was sent into the chat.
For more information and future AMAs, join our Social Media channels:
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Our partners:
https://t.me/OvalGlobal
WebSite?—?oval.exchange
