AMA Recap: xSgima
Time: 2PM UTC | Nov 22nd
Project name: Xsigma
Host: Reginald from BSC Army
Guest speakers: Alex Lebed – CTO of xSigma
- Segment 1: Introduction
- Segment 2: Twitter’s questions
- Segment 3: Live Q&A
Reginald: We will start this AMA session with xSigma in a few minutes. Hope everyone will take a moment to monitor and evaluate the investment opportunity. You must follow the following channels in order to participate in AMA:
- Join Xsigma Telegram
- Join BSC Army Telegram
- Follow Xsigma Twitter
- Follow BSC Army Twitter
Welcome to our guest: Alex Lebed – CTO of Xsigma. How do you feel today?
Alex Lebed: I’m alright, but connection is terrible. And you? thanks for the invite
Reginald: We are so excited to see you.
Yes, that’s Alex Lebed – CTO of Xsigma ladies and gentlemen. By the way I’m Reginald – the AMA Host. 😁
Before we start, I will tell you the rules of today’s AMA. We will have a total of 15 questions and are divided into 3 separate segments.
🔸Segment 1: Introduction (5 question)
🔸Segment 2: Twitter questions (5 questions)
🔸Segment 3: Live Q&A (5 questions)
Please send a sticker or ‘Done ✅’ every time you finish your answer.
Have you got it? @alex17239
Alex Lebed: nice to meet you Reginald
Reginald: So, we are ready on the move.
Segment 1: Introduction (5 questions)
1. Could you please introduce a little bit about yourself and your project?
Alex Lebed: Alex is a self-taught developer who has written smart contracts worth USD1.1 billion by asset volume. Formerly with 1inch, Facebook, and Amazon, he took prizes at hackathons ethNY (awarded by Binance Labs, Wyre, Matic/Polygon), ethDenver (MakerDao, Chainlink), and ethBoston (nuCypher, JP quorum), ethLisbon (Gnosis). He holds a degree in Mathematics from Moscow State University, and has been referenced in more than 500+ newspapers worldwide.
Xsigma is a stablecoin exchange and a liquidity mining platform backed by a public Nasdaq-listed company, launched by world-class developers from Xsigma Labs.
basically that’s it. Xsigma lab though does more than just a dex, it has NFT platform, derivatives etc
Reginald: Wow, I have to admit that you have a wonderful background.
2. Could you tell me about your team members and what are their roles in your team?
Alex Lebed: thanks, Reginald
There are a few people working in the lab, developers, marketers, security etc. The main partner (owner) is zk international (zkin on nasdaq), who’s parent company of the lab.
it’s important to point out that I’m merely a developer, all business decisions are made by the zk appointed board. My immediate peers are Alexey who’s frontend guru, and our auditor parnet hashex.
Reginald: That’s amazing. I believe you and your team will go far in the future.
3. What is the most unique feature of your marketplace compared to other famous competitors?
Alex Lebed: The main value proposition as I see it is transparency and legal compliance for the real decentralized DeFi products. Since the Xsigma is a subsidiary of the NASDAQ traded company there’s extreme attention to what company does so it handles the security and public relationship. Right now on the market there are 2 types of DeFi project: real DeFi where D stands for decentralization but it runs by small, often anon teams and bigCorp DeFi where no decentralization and often it’s not even real blockchains but big name and VC behind the problem.
Xsigma offers the best from the both worlds: real DeFi experience, non-custodial approach and the support of bigCorp.
so basically Xsigma lab working on real decentralized DeFi protocols without backdoors of any sort but offers familiarity of classical finance orgs. I think it’s some sort of bridge between wonders of new financial world of DeFi and security and familiarity of classical.
Reginald: Wow, we could see it. 😁 And you are doing really great at this site!
4. Could you please describe your tokenomic and what are the use cases of your token?
Alex Lebed: there’s Sig token that’s the governance token of the dex protocol but it also works as a utility: it gives cashback and other perks in the protocol. From tokenomics point of view, it automatically mints bit by bit every block similar to what bitcoin does – it’s hard cap by finite supply (around 16.8M after several burns). it would never reach this number because every once awhile minting rate gets twice-lowered so this guaranteed scarcity and that no sybil attacks are possible on the propofol. There are different proposals for the utility for Sig token in the other projects for NFT derivatives but I can’t comment on that yet.
you can read me on the whitepaper https://Xsigma.fi/Xsigma.whitepaper.pdf
Reginald: Here is the last question of segment 1.
5. Marketing is always seen as a big problem in every project. So what is your plan to implement your marketing strategy to make your project become more popular?
Alex Lebed: aside from classical marketing such as ads and articles, Xsigma is working with key opinion leaders from different industries. There are many sports players who support the project and zkin stoke holders who are helpful in that. For more details the official chat https://t.me/Xsigma_global would be the best place to ask because my responsibility is mostly a solidity code. So I can’t really write about all marketing activities. But that’s a working process, 1B in volute is no joke, lots of people know about it.
Reginald: We will move to the next segment now.
Segment 2: Twitter questions (5 questions)
Reginald: We have chosen 5 best questions from our audience from Twitter
6. How is this project protected against possible whales and scams? What protection system does it use for user funds? In general terms, how do I know that my investment will be totally safe, do you give any security? @TridevPramanic1
Alex Lebed: great question. the lab follows the most proven techniques to achieve user’s fund security. 1. it’s not custodial protocol, that mean that company doesn’t handle any user’s fund. at all. All funds are stay on the smart contact to which no one had privileged access. 2. conservative security perimeter. there’s no servers, many moving parts of authorization. 3. The protocol blocks. Rather than write everything from zero, protocol reuses as many proven techniques and blocks as possible from different proposals. Mainly curve and Sushi. 4. Audits. To ensure the code is working as intended – we’re working with best auditors. Hashex and Hacken. 5. ETH version of the protocol handler the volume of trading over billion dollars and no single dollar was exploited.
But as always, do your own research and use any DeFi protocol at your own risk.
Reginald: Let’s move to the next question.
7. Can you give a brief overview for $SIG tokenomics and token supply? Would there be any form of burns and buybacks? What does that aim to achieve for you and does it include any form of scarcity paths such as stake, store, or burn? @tanmoy284910957
Alex Lebed: the question is mostly answered in the previous answers, but to add about burns: Xsigma is announcing finance smartchain version and ethereum version 2 that included auction contract where anyone can burn their Sig tokens for the fees and commission from the DEX swaps.
8. Partnership is an integral component of any project’s journey. Which types of partnership that #Xsigma has already attained and what are your plans on this front moving forward? @Puja0211
Alex Lebed: unfortunately I’m not a liberty to disclose Xsigma partnership building activities, the best place to ask would be twitter https://twitter.com/Xsigma5 or the telegram group mentioned above.
Reginald: That is really cool.
9. Almost 80% of investors have just focused on the price of the token in the short term instead of understanding the real value of the project. Can you tell us the motivations and benefits for investors to hold your token in the long term? @Ipman15547444
Alex Lebed: it’s very important to remember that SIG first and furthermost is governance token. That means it would give voting power and ability to participate voting/discussion to decide the faith of the protocol. I’m not sure whether it would be as advanced as in StableUnit or just simple Compound-like voting but it’s voting right not a share. So everyone divide their motivation for themselves.
Reginald: Here is the last question of segment 2
10. Currently all projects are launching their own NFT programs, So I want to know if you have any thoughts on launching an NFT program And if you turn it on, what is its roadmap? @Ramachari110
Alex Lebed: Xsigma lab has thoughts about launching NFT program, implemented as https://maximnft.com/
Reginald: So, now, we will move to the last segment of our AMA today.
Segment 3: Live Q&A (5 questions)
11. How can I buy these tokens? Is it available on any exchange? @corrie_driscoll
Alex Lebed: yes, it’s available on Unsiwap and will be available on Panckeswap very soon. The token address is the same on all chains: 0x7777777777697cFEECF846A76326dA79CC606517.
12. Southeast Asia is a very vibrant market and there are many new platforms under development. So what do you think about Southeast Asia and do you have plans to grow there? @scalant5
Alex Lebed: thanks for the question. Yes, absolutely. We see asian market in general and southeast asian market in particular is one with the highest potential for the growth. Both growthing economy and luck of strong legacy banking system make me believe that stablecoins going to be massive there. If you see market, only fraction of the crypto are in stablecoin right now where on real economy fiat currency is a major part of the market. Apart of stablecoin market in general, genetrazlied stablecoins would grow much faster. Only 4-5% of them right now are censorship resistant so 95% of them can freeze your money at any moment:
13. 💪💪Is this your project only for elite investors, how about others with small funds, is it open to everyone? @Halkaww
Alex Lebed: good question. it’s really annoys me that ethereum tx are so expensive, but we can’t do anything with it. So to make it affordable for everyone Xsigma is launching its finances smart chain version so everyone can afford to particular. On ETH version the problem paid 20m+ worth of tokens are rewards, so be sure to check bsc version out. All annoumecements would be post in the twitter
14. What are your plans for listing in CEX and DEX?? Where can we buy it for now? @optinal2Name
Alex Lebed: Yes, among many places there’s Bittrex. We would have an interview today with them as well, so be sure to check it out as well.
15. Do the token holders have the right to participate in the governance of the project? What kind of decisions can they vote on about the project? @Ke_eta
Alex Lebed: yes, there’s snapshot voting currently in place. There’s a roadmap for the complete automotive of the problem, but that’s long and complicated process. If you want participate in the DAO owned project where community decide everything, I actively contribute in https://stableunit.org/ – unstoppable stablecoin that pay dividends. It’s complimentary to follow Xsigma stablecoin DEX. But be sure to https://twitter.com/Xsigma5 to don’t miss BSC announcement.
Alex Lebed: well, that’s 5 questions
Reginald: Congratulations on successfully completing the hardest part of each AMA session, which is interacting with investors and the questions they want to know. 👏
This is the end of our AMA today. 😊 Stay tuned for more information you guys!
Thank you for joining us, it is our pleasure to have you here today, @alex17239
Do you have anything to tell the BSC Army community?
Alex Lebed: thanks everyone for the time and smart questions, it was big pleasure to be on your AMA
Thanks for having me, Reginald. And have a great day!
Reginald: Thank you for joining us, it is our pleasure to have you here today, @alex17239
Up to now, Xsigma has had outstanding growth with an ever-expanding ecosystem, promising to thrive in the near future.
Disclaimers: Writers’ opinions are solely their own, and do not constitute any financial advice, investment advice, or trading advice.
BSC Army strongly recommends that you do your own research, and seek professional advice from a financial advisor where appropriate.