We are happy to let you know that yesterday we hosted an AMA session in which Solanax CTO answered your important questions and concerns.
Here is a recap for anyone who missed the AMA.
PART 1, INTRODUCTION AND COMMUNITY QUESTIONS
Cobie Werner: Good morning, good afternoon and good evening everyone! Hope all is well for you all! 🤗 I welcome you to today’s Solanax AMA session which is few minutes away from the start.
I’m Cobie Werner and I will be your host for today. Can’t wait to see what kind of questions and concerns you have in store for us today.
Now please give a warm welcome to the one who will answer them all, the CTO of Solanax Mindaugas Butkus!👋 How are you holding up Mindaugas?
M B | CTO | Solanax: Hello everyone, good to be here to answer your concerns. I’m doing great, the development is going smoothly and we’re testing internally staking and farming. Hope you are all doing great as well!
Cobie Werner: Great, well then, without further ado, let’s start the AMA and Mindaugas will try to answer as many of your questions as we go, good luck! 🔥
PART 2, ANSWERS
Q1 From Telegram User @sogge333: The Solanax Team startet very loud with a lot of AMA’s and announcements etc. and then latest with the beginning of 2022 it got very quiet around the team. What happened the passed 8 months and why did you guys let FUD get so big? Don’t get me wrong. I still love the project and your ideas, but as an investor need this to know. Thanks a lot for your hard work until now!
M B | CTO | Solanax: We were concentrating on internal development and internal marketing. We were looking for partnerships, talking with quite a few influencers on twitter and youtube for marketing when our DEX is fully launched. Basically, marketing team is creating plans for the future and development team is focusing on staking and farming.
Q2 From Telegram User @sogge333: When will staking be on chain possible and with what conditions?
M B | CTO | Solanax: On-chain staking will be live by the end of next month. Regarding the conditions, could you please specify what you mean?
Q3 From Telegram User @SADRA85118511: Hello, why did it suddenly sell so much since a month ago and fell sharply?
M B | CTO | Solanax: Hello there, hope you are doing well. That was probably someone dumping by mistake or as a joke. The team has nothing to do with that.
Q4 From Telegram User @SADRA85118511: Does that mean it was a whale that was sold?
M B | CTO | Solanax: It’s possible.
Q5 From Telegram User @sogge333: What are the next steps for the Solanax Team in the coming months?
M B | CTO | Solanax: As you already know, staking and farming development will be done by next month. After that, the marketing team will be focusing on external marketing to spread awareness about our project. Also, we keep looking for more strategic partnerships.
Q6 From Telegram User Todd Bryant: A lot of people think solanax is a scam what can u tell us to make investors feel safe bcuz it almost seems like a failed project even tho I understand things take time
M B | CTO | Solanax: Yes, we know we get a lot of fud. Mainly, because our ex CEO is no longer with us and he failed his project (as far as we heard from you). None of our Solanax team is in contact with him, so be sure we are working and developing this project and aiming to have our platform working and without any bugs.
Q7 From Telegram User @Bastar1368: We are waiting to be listed in the reputable exchanges. When will it be listed in the exchanges?
M B | CTO | Solanax: So far you can trade $SOLD on our DEX and on ExMarkets Exchange. After our DEX is fully launched, we’ll talking with the team internally what to do next regarding listing on bigger exchanges.
Q8 From Telegram User @Rman_ad: What do you mean fully launched? So we do not see new CEX yet?
M B | CTO | Solanax: So far we are live with swap and liquidity pools enabled, so after staking and farming will be live, which is by the end of next month) then we’ll think about bigger exchanges.
Q9 From Telegram User @sogge333: Are there different APR pools available or is there one APR for all staked coins?
M B | CTO | Solanax: There are different APR’s.
Q10 From Telegram User @sraoraghav: What are the plans to attract liquidity to dex so far the volume is next to zero
M B | CTO | Solanax: Farming should move things regarding liquidity, because people will be able to gain more money after they put LP tokens to our farms.
Q11 From Telegram User@Rman_ad: Do you think can we reach new ATH this year?
M B | CTO | Solanax: Everything is possible! Be sure we are not controlling the market, so if the market goes green again, I believe we’ll reach new ATH :)
Q12 From Telegram User @sogge333: Who is doing the audit and when it will start?
M B | CTO | Solanax: We have partners related to security audit and will move things regarding that after we have a live platform.
Q13 From Telegram User @TotalReturnFounder: What will be the reward of farming? SOLD?
M B | CTO | Solanax: Anyone (who have created liquidity pool) will be able to create a farm and will be able to assign a reward token.
Q14 From Telegram User Benzinho: When will we see a working prototype on the test net?
M B | CTO | Solanax: You will see everything on the main net. :) no dev net for this time.
Q15 From Telegram User @brianwelle: How has Solana’s issues with the mainnet being down affecting the project? Any concerns?
M B | CTO | Solanax: We had problems before. However, we do not have any problems at the moment. We found ways how to go around that.
Q16 From Telegram User Mo Yo Walker: Is Solana Labs in contact with Solanax?
M B | CTO | Solanax: We are planning to contact them in the near future.
Q17 From Telegram User Mo Yo Walker: How many teammembers does Solanax have?
M B | CTO | Solanax: At the moment we do have a great team of 16 actively working people. Also, we have couple of freelancers, who we don’t count as team members.
Q18 From Telegram User @Bastar1368: No one will know about this project until we are listed in reputable exchanges and the volume of transactions is so low, this is what all the community members are concerned about.
M B | CTO | Solanax: I have already answered this question. We will be focusing on listing after our DEX is fully launched.
Q19 From Telegram User @Focusedmindset: Is solanax based only in Lithuania ? Are you based in the states or another country
M B | CTO | Solanax: The development team is based in Lithuania, as I want to have couple of meeting with the team in person. Also, I like to draw things on the white board :D
Q20 From Telegram User @Domk900: So what youre saiyng about listing is something different them Samuel. This means you have nothing Planed and your mods here dont tell the truth
M B | CTO | Solanax: We have already contacted other exchanges, on some of them we cannot list because of technical problems.
Q21 From Telegram User @Rman_ad: For each withdrewal in exmarkets get 60 units solanax for transaction fee. So how we can say solanax transactions are near to free?
M B | CTO | Solanax: We’ll contact ExMarkets support team regarding this question.
Q22 From Telegram User @Focusedmindset: I know it’s not solanax fault but y’all support with this issue will be appreciated
M B | CTO | Solanax: Will do. Will arrange an online meeting with them and tell them to explain this issue.
Q23 From Telegram User Mo Yo Walker: What does the CTO think of the recent market conditions and where is the market heading?
M B | CTO | Solanax: In my opinion, it will take few more months for market to recover, as the energetic and economic situation is not good.
Q24 From Telegram User @sogge333: Is the SOLANAX Team planning to have more AMA’s in future?
M B | CTO | Solanax: Of course we’ll have more AMAs in the future. Also, we’ll jump in this group chat more often to answer your questions.
Q25 From Telegram User Ali1989: Has there been an agreement to be included in large and reliable stock exchanges? Or did you focus on Dex for now?
M B | CTO | Solanax: We are focusing on DEX at the moment.
Q26 From Telegram User Mo Yo Walker: Will the wormhole feature still be implemented?
M B | CTO | Solanax: We still did not find technical possibilities to trigger different blockchains without any centralized code.
Q27 From Telegram User @sraoraghav: Is the liquidity and defi protocol made open source already according to roadmap
M B | CTO | Solanax: If you are talking about our code, we are not planning to make our code public because there will be created more exchanges using our hard work.
Summary:
We would like to thank you all for participating in this AMA session. We’ve learned a great deal about Solanax from the insightful answers given by the amazing CTO.
It was a pleasure to see you all again with the same fired-up energy as always!
