It is no surprise that with wider cryptocurrency currency adoption things are moving faster and faster in the blockchain world.
And it became very clear that the cryptocurrency exchange market is evolving rapidly, which led to the demand for new technologies being implemented.
Soldex AI is hoping to take its users to the next step of cryptocurrency exchange evolution by giving users the amount of engagement never seen before.
In an interview with the CEO of Solana-based DEX Soldex AI John Robertson, we are getting to know more about Unique Trading Algorithms and the abundance of benefits of the new technology.
- Firstly, could you please introduce Soldex AI to the trading community? What motivated your team to develop Soldex AI?
Soldex AI is a state-of-the-art hybrid cryptocurrency exchange protocol that runs on the Solana Blockchain. One of the reasons for the creation of Soldex AI is to have a third-generation exchange to solve the issues caused by order-matching centralized exchanges and trust-less custody found in current decentralized exchanges.
The reason for Soldex AI protocol creation is to power the new wave of flexible financial markets. The protocol serves as a foundational layer for settlement, custody, market making, and liquidity.
Since the protocol is based on the Solana Network, it can solve problems commonly found within other Ethereum based DEXs. Using this new platform, users will exchange tokens at a speed greater than 50,000 transactions per second. All this will be done at the average cost of $0.00025 per transaction, reportedly enabling efficient and quick transactions.
2. What are the highlights and uniqueness of Soldex AI technology?
Soldex AI is not only creating a DEX on Solana Blockchain but provides the flexibility for creating AI trading bots for automating each unique trading strategy. Traders will have the possibility of 24/7 trading and receiving maximum results.
Later on, developers will be able to lend the trading bot for success commissions. This would provide the community with incentives for further development of Soldex AI through voting rights.
3. AI bots? sounds interesting, could you elaborate a bit more?
We see a huge demand for automated trading. 80% of traders lose due to human error. Every trader will be able to choose what strategy suits them best. That is why we are developing different bots with custom criteria:
-90 Day Success Rate
-Other custom criteria
4. What made you choose Solana for the blockchain.
Soldex AI is being built Solana network. Since the Solana is still a relatively recent network, it has some technical improvements compared to other well know open-source blockchains like Ethereum. The main advantages of Solana over Ethereum:
- Trades Per Second (TPS) on Solana are 65,000 while Ethereum only boasts 30
- Transaction fee on Solana is only $0.00001 while on Ethereum it is around $12.76
- Block time on Solana is 0.4 second, while in comparison, Ethereum has staggering 15 seconds
5. In your opinion, why should the new traders join your exchange, what would be the biggest conveniences.
The very first thing that the new and old traders should recognize is its technical prominence due to it being built on Solana network, it guarantees rapidness of the trades and unimaginable technical capabilities in the future. In addition, we are all familiar with the hassles that the new enthusiasts have to go through while opening an account on the exchange.
We managed to find a way to avoid all of this drag, Soldex AI is completely permission-less, so absolutely anyone, anywhere can engage in trading, providing liquidity, and staking. There is also no KYC requirement – so you don’t need to send ID or bank details to start trading. We think that the new and old traders alike will find this very practical and promising.
6. Could you tell us more about SOLX tokenomics?
Soldex AI plans to build a platform rake in millions with a revenue structure that is transparent, fair, and profitable. In order to achieve this goal, Soldex AI will use native Solana token – Soldex AI (SOLX).
The biggest chunk of the tokens will go through a private sale, which would be 30%. Next, there will be around 5% will go on a public sale. 14% will be liquidity and the rest will go to the developing team, advisors and etc.
7. The project itself looks very promising, however why people should buy SOLX, what uses it will have?
The SOLX token can be used for governance rights, paying transaction fees, and staking for profits. We envisioned a bright future for the token and we are sure that list of the usage will grow as Solana offers great opportunities for improvements in the future.
8. What is Soldex AI academy and its goals?
The ultimate goal of Soldex AI academy is to build a strong and vibrant Solana DeFi community. Our Vision is to be an educational resource, designed to help new users become familiar with Solana and DeFi and its key concepts. Soldex AI hopes to use this academy to explain Solana and DeFi to anyone new to the technology, help new developers to start building, learn and expose to the technology offered by the Solana, showcase resources created by the community, and build a united and impactful community.
9. Is there any vesting schedule for token holders?
All private sales for serious projects have vesting to stop people from dumping their tokens and crashing the price on day one of trading. SOLX vesting schedule is 20% upon payment and the balance vesting monthly at 10% per month after the TGE.
10. Is there any chance for retail to join SOLX private sale?
Yes, currently we are on the second ongoing private sale round-II since round I was oversubscribed. In total there will be three rounds. We have a current price, which is $0.06 per token, on the launch day on December 10 it will be $0.1 per token. Currently, we are very satisfied to have such a great engagement and eagerness from the public, we managed to attract private investors, corporate investors, funds, and many more.