Solanax AMA recap on 17th November

We are pleased to inform you that we held an AMA session yesterday, during which we answered your great questions and concerns. The AMA was held on the official Solanax community chat and your questions were answered by amazing Solanax representatives: CTO Mindaugas and Sales and Marketing Executive Sophia. Host: Cobie Werner.

The total reward pool was $500 in $SOLD and distributed among the authors of 10 BEST questions.

PART 1, INTRODUCTION AND COMMUNITY QUESTIONS

Cobie Werner: Good day to all! Hope everyone’s doing alright today! 🤗 I welcome you to today’s Solanax AMA session which will begin soon.

My name is Cobie Werner and I will be the host of today’s event. Hope to see an active involvement from all of you gathered here.

Now please give a warm welcome to our CTO Mindaugas Butkus and Sales and Marketing Executive Sophia. Welcome to the party guys! 👋

MB | CTO | Solanax: Hello, hope everyone is doing well. Cannot wait to answer your questions : )

Sophia: Hello everyone! Lovely to be here, excited for my first AMA with the Solanax community 🙂

Cobie Werner: Before the questions roll out, is there anything you would like to say to the community? How is the progress so far within the Solanax project?

MB | CTO | Solanax: At the moment we are working on the development; UI is almost finished, and at the moment we are testing the smart contract.

Cobie Werner: Great, that is just wonderful!

That being said, I believe now is the time to let the AMA commence! Fire your questions everyone! 🔥

We received around 80 fantastic questions during the AMA session. Representatives from Solanax responded to 21 of the BEST questions.

PART 2, ANSWERS

Q1 From Telegram User @pkpushpa97: From Solanax group telegram, got the information that Solanax will provide a strong incentive for community members who help build the Solanax DEX network. Can you explain exactly how the community will be involved in building Solanax? Are you going to release any program about this?

Sophia: Yes, we have already set up a feedback form for people to give their input on the project, whether it’s marketing, the platform or any other feedback they have to give. We are also looking at a more permanent solution and implementing a form in the platform itself to help with any future development of the platform.

Q2 From Telegram User @HarvieCrypto: @mbsolanax glad to hear from you again! Could you tell us a little bit more about smart contract testing you mentioned, what process does it involve and what benefits you believe it can bring to our beloved $SOLD project?

MB | CTO | Solanax: The benefit — it’s going to be decentralized project; we cannot do anything without our smart contract. On testing the smart contract we are focusing on making sure that it’s secure and working properly.

Q3 From Telegram User @Dewkas98: In crypto many good project fall because of lack of marketing and poor marketing strategy. On the other hand many projects create great hype by proper marketing but because of no improvement of the project they can’t stand for long time. So combination of this 2 is very important. So how will you aim to combine this two very important part of crypto?

Sophia: This is a very good question. Our very main focus is to put out a product that we are confident in. As you may know, some of our competitors have platforms out that have quite a few bugs and that is exactly what we are trying to avoid. When it comes to marketing, my team and I at the moment are setting that up for when the platform is officially launched. We are planning a little re-brand on our socials and also a different approach. So we will combine the platform launch and a new strategy hand in hand for the best results.

Q4 From Telegram User @Rman_ad: @mbsolanax glad to see you here, my question is about marketing, what is the politics about your team do not that very powerful,is it depends on launching?

MB | CTO | Solanax: I personally focus on development and product delivery. The marketing team is setting up plans and strategies for marketing after launching.

Q5 From Telegram User @bebebews: Question to Sophia: Right now Solanax doesn’t seem to be doing actively any marketing activities. Could you please share your future marketing plans?

Sophia: Yes, thank you for the question. At the moment we have been very focused on internal marketing, however, I am speaking with quite a few influencers to set up long-lasting partnerships for brand awareness for when the platform launches. My main focus is Twitter and Youtube and various crypto news sites. I have gotten some suggestions from the community on who would you guys like to see speak about Solanax and am trying my hardest to make it happen. Apart from that, I am also speaking with a few projects on the Solana ecosystem about marketing partnerships.

Q6 From Telegram User @pkpushpa97: Right now issuing a token is a rather simple process. However, building the system and ecosystem is the most difficult part. How will the demand for the token increase and how will this token used within the ecosystem?

Sophia: Very good question, thank you. We are actually planning on raising the demand by expanding the platform. At the moment it is a dex, however, we have seen some feedback and suggestions on creating a launchpad. The team is exploring this idea at the moment and is hoping to implement it sometime next year.

Q7 From Telegram User @Val_Blaz: I know it’s difficult to run a project and so far you guys have done so well via listing our young token in two exchanges so far, is there still a way that we will get listed in other top 10 exchanges like Kucoin etc and when are we gotta achieve that for our token visibility?

Sophia: We are planning to list on more popular exchanges early next year 🙂

Q8 From Telegram User @Vish2404: How are you gonna improve your marketing teams, as if we search regarding this project on Google its says scam because the old CEO left the project. How are you gonna make-believe to the community?

Sophia: We are working on that at the moment and are setting up marketing campaigns with various influencers and news sites in order to raise trust and transparency in the project.

Q9 From Telegram User @Melinaj21: how do you view the importance of the community? Do you have plans to launch any special campaigns to engage and grow your community soon?

Sophia: Yes, I believe the community is what makes or breaks a project. At the moment we have been taking in everyone’s input and feedback on development and marketing in order to perfect the platform and project. We are planning to some competitions and various campaigns with some external sources in order to strengthen and grow our community.

Q10 From Telegram User @Onoath: Hi Is the launch of Dex in early December a test or real? @mbsolanax

MB | CTO | Solanax: It depends; if we are not going to face any difficulties and issues, we are going to launch the product with staking, swapping and pools in December.

Q11 From Telegram User @Macy31: Thank you for the hard work that you have undertaken so far. Please confirm a date for launching the dex? Also, please provide an update on where we are with the security audit. Many Thanks

MB | CTO | Solanax: We do have partners related to security audit, but while we don’t have the finished product we cannot start the audit.

Q12 From Telegram User @Dewkas98: Can you tell us what are the current objectives that you are working on right now? What are the short term objectives that you have to complete within this quarter?

Sophia: We are mainly working on marketing and the platform itself at the moment. We have really focused on internal marketing and now are expanding to external marketing to get ready for the platform launch.

Q13 From Telegram User @Macy31: Are there any plans to bridge Cardano?

MB | CTO | Solanax: So far we do have only theoretical plans.

Q14 From Telegram User @Macy31: SOLANA ecosystem is growing. Any plans on adding a launchpad?

Sophia: Yes! I have answered already a question about this above. We are exploring this idea and are hoping to implement it sometime next year.

Q15 From Telegram User @Dewkas98: I have observed that Some projects cannot handle the stress of the Bear market and the recession. How will you prevent this bad situation that the crypto markets have?

MB | CTO | Solanax: We are a youthful team with a lot of passion for what we do. I think that Solanax team stands out from the competition by being able to recognize the difficulties of defi that it currently faces, one of our best strengths is that we are extremely passionate about ourselves and what we do, and we will continue to go this path forward.

Q16 From Telegram User @LeocadiusBusiness: Hello! Could you please tell us more about your role in Solanax @it_sophia? What are your current activities and future plans for the project?

Sophie: Yes, thank you for asking! I am fairly new to the team. I take care of our sales and marketing. At the moment my main objective is to have a successful launch of the platform. I am setting up marketing plans and am reaching out for long term partnerships to ensure the longevity of Solanax.

Q17 From Telegram User @Simon_Leon: Is the launch of the dex still scheduled for the end of November beginning of December?

MB | CTO | Solanax: If everything goes well, we’re aiming to launch the product in Q4 : )

Q18 From Telegram User @EhsanEmami65: When will the 2022 roadmap be presented?

Sophia: The team is working on that at the moment and it will be presented before the end of the year. We are also still looking forward to any input and feedback you guys have and what would you like to see in the future of the project.

Q19 From Telegram User Gen: Do you have plans to put Solanax to other exchanges?

Sophia: Yes, we aim to have that done early next year.

Q20 From Telegram User @commsguyHH: Tokens listed on Exmarket have been known to be challenging to list elsewhere. Why did you choose Exmarket and how did you think about overcoming the challenges involved in expanding?

MB | CTO | Solanax: We’re happy with the ExMarkets exchange and we do not think we’re going to face any difficulties before listing on other exchanges.

Q21 From Telegram User @Macy31: What is the unique selling point for SOLANAX? What is your competitive advantage?

Sophia: I believe the main thing is that we are fully decentralized. We aim to please the community and implement more than just one chain in the platform giving us an advantage against our competitors. The team has planned for the platform to become a one in all project that hopefully in the feature can lead the Solana ecosystem.

Summary:

We would like to thank you all for participating in this AMA session. We’ve learned a great deal about Solanax (SOLD) from the insightful answers given by team heads.

It was a pleasure to see you all again with the same fired-up energy as always!

Website | Twitter | Telegram | White paper

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