AMA Recap: Gem Chasers & DEX TOOLS + Official Partnership Announcement

Below is a full-recap of the AMA, for the gem chasers who couldn’t make it, or for anyone that’s interested. Feel free to have a read!

Telegram: https://t.me/GemChasers

Twitter: https://twitter.com/GemChaserz

Recently we had an AMA with Dex Tools, and announced a partnership that we will have in place for our community at Gem Chasers. The partnership involves some benefits that will take into effect immediately. All of our AMA prize pool rewards will now be rewarded in $DEXT. Furthermore, any project that is sponsored by Dex Tools will have exclusive benefits for our AMA’s. This is the beginning of our thriving relationship with Dex Tools and we will continue to provide more benefits for everyone in collaboration with the DEXT team :)

🦊 Tails:

Ok guys, welcome to another AMA series of @gemchasers. Today we have here with us Dex Tools 🙂 Warm welcomes to @FredericDEXT

Frederic | DEXT:

Hello everybody

Glad to be here

🦊 Tails:

We are glad to have you here 🙂

Frederic | DEXT:

I knew your community only few days ago. But it’s amazing and I will keep following it in the future.

🦊 Tails:

Could you please first introduce yourself & the core team, for the people who don’t know already? Where did the journey begin for Dex Tools?

Frederic | DEXT:

Sure

I am Frederic Fernandez, CMO and Cofounder at DEXTools, our journey began this year at March. But our project was officially launched at the end of May.

The team at dextools is formed by experienced developers and traders, with many experience in Crypto, most part of the team started in crypto at 2017, we used to trade as hobby for years while we work in our normal jobs.

At the beginning of 2020, with the Covid Lockdowns, we had more time to develop from home so we started to develop DEXTools , gathering all the tools that develop to ourselves for IDEX exchange. So we decided to make it public and launch DEXTools.

It was an incredible experience, only 6 months since the launch, that seems years for me.

🦊 Tails:

Definitely is a big achievement that you and your team have done in such a short time, and yes I agree it does feel like years even for me! Dex Tools has become a household name in Crypto!

Frederic | DEXT:

Thank you very much

🦊 Tails:

Dex Tools also has it’s own token $DEXT. What are some of the benefits of $DEXT? And how is this connected to the DEXT ecosystem? I know there are some membership incentives to the platform, and you have recently updated the membership tiers, could you please dive in deeper to this?

Frederic | DEXT:

Yes, DEXT is the utility token of our platform and it’s the only method to access the top tier features of our platform, holding 20k or Paying a monthly subscription.

For the premium tier , users with more than 100k DEXT, we have a premium trading group called DEXT Force, and also the DEXTShare, a % of all the fees collected from DEXT subscriptions are shared among our premium users, apart from that they receive premium info like anticipated news and insights from our team.

For more info you can check our medium : https://dextools.medium.com/dextshare-your-share-in-the-future-of-defi-c389ec67a748

Said that, we maintain a free version, with no delay and many features that any new trader can use without holding DEXT. We like our free community too and the way people share our links in all groups.

🦊 Tails:

Definitely. I use your platform on a daily basis and it is really beneficial to use as well as most importantly, it’s not complicated. It’s relatively user friendly anyone can learn how to use it within minutes and you also have top tier features and incentives for more professional traders 🙂

So this leads me to ask you this, Dex Tools has been one of the leading tools that everyone uses, especially in the Uniswap / Defi field and I can see that Dex Tools is continuously building on the platform. What kind of developments can we see coming in the near future to help traders and investors? Will Dex be able to provide more enhanced tools for traders in future development?

Frederic | DEXT:

Yes, we try to keep everything as simple as possible but we have to include a lot of information.

One of the things we lack is a complete user guide, but our continuous development makes it impossible to create an updated one by now.

About development, there are a lot of things planned.

From the user side, Telegram and mail alerts will be the next ones coming, also some huge improvements in the social part of DEXT, DEXT news.

From the backend side, the part that you don’t see but it’s fundamental in our project, our focus now is to release websockets, and finishing to setup our backup node. That should increase our performance a lot.

That both things should be ready before EOY.

For Limit order integration, one thing that many people request, we need to wait until next year.

🦊 Tails:

Frederic, in such a short time you and your team have done outstanding efforts to keep on developing the platform, especially in such a short time. Even now you are getting ready to release so many updates before EOY, and we are days out from 2021.

So i have to ask, Dex Tools has high demand currently and there is no doubt that there is a team running this for all of us to use smoothly 24/7. How do you manage to run such a high demand platform in such a smooth manner?

🦊 Tails:

ℹ️Notice to all: Telegram is having some difficulties at the moment. Users are having trouble connecting. AMA Will Resume soon. Thank you for your patience. https://downdetector.com/status/telegram/map/

🦊 Tails:

Ok guys we apologize for any inconvenience that has been caused, however it is out of our control, the problem was with telegram it self, it had an outage. It seems like we are back online now. @FredericDEXT Whenever you are ready please continue 🙂

Frederic | DEXT:

Hi, after this little break, I am here again. Thanks for the question. And yeah the scalability was a challenge for us since the start, we putted our focus during august and september months to solve this increasing our servers performance and also improving our code.

Here I want to thank our CTO Pablo who made an amazing job setting up all our infrastructure from almost 0

And also Mauvis Ledford our advisor who helped a lot with that.

We also had to put many measures to avoid attacks we had in the past months

Fortunately all went well and now app runs better than ever

🦊 Tails:

Shoutout to Pablo and Mauvis from here! We appreciate the continuous hard work DEXT provides to all users. Yeah I can only imagine all the attacks.. However your team is doing a superb job, I love seeing DEXT just grow and grow, It is evolving into something so big. Bigger then what we think.. 🙂

So when we think about these things, I’d actually like to ask about the future of your platform. Where do you see Dex Tools going to in the future? And what can we expect from $DEXT. Is there any plans to incentivise $DEXT more than it is?

Frederic | DEXT:

Yes, our goal was always to be the gateway to DeFi trading. So our main objective is to give our users all the info we can about the current state of the market, in short term we are improving the social part of DEXT, with community voting, news and more things.

About DEXT token we are working in many upcoming uses and it will be always a central part of our ecosystem.

We are very happy with our current performance and we expect to continue increasing in users and adoption next year.

Btc has just broke ATH so 2021 seems to be a very good year for crypto

And we will be ready for it

🦊 Tails:

Yes actually during the outage BTC did an ATH and broke the internet 😂 Telegram, Binance and a few other majors stopped working. Well, It is always good to add onto the ecosystem and bringing in more use cases to $DEXT the token. You have an absolute immaculate and useful platform, so increasing adoption for your token too seems really Ideal.

So we have some community questions left, we have preselected five of them for you to answer, however before we do the questions, Is there any exciting updates you can disclose to our community today for us? Such as any potential partnerships Dext will be doing soon ? 🤔

Frederic | DEXT:

We are working on many partnerships, we believe that collaboration is the key to success in crypto, and with the talented teams we have in DeFI we are already collaborating with many of them. But also exploring new ways to collaborate with other projects. Apart from that there is a very important part of crypto that is the social part, that includes partners with influencers or trading groups like this.

So now, in exclusive I am glad to announce DEXT partnership with Gem Chasers group.

Frederic | DEXT:

To make our both communities stronger and help each other and all Defi community educating and promoting crypto.

🦊 Tails:

That’s right @gemchasers

And to the further communities out there, we have officially partnered up with Dex Tools and we will provide more information on how you can benefit from this in the near future 🙂

Ok so now we have some community questions, are you ready?

Frederic | DEXT:

🚀🚀

Yeah , go ahead please

🦊 Tails:

@ANAOL11, asks I use Dex Tools everyday continuously, what security measures do you take? I know it’s just a tool but I want to be able to know I am using it safely.

Frederic | DEXT:

Hi @ANAOL11 and thanks for the question. As I told before we have many security measures to avoid attacks to our app. That include cloudflare and others.

From the user side, our app includes to pay fees and verify your wallet to access top tier features. That is made with a simple signature through metamask that do not represent any risk, and we don’t touch user funds in any form.

About the “normal” risks of trading like scams we have tools like DEXT Score that is a very useful source of info. But every user should do their own research before investing.

🦊 Tails:

@glyzz asks, I am more of a mobile user because I am always working, but when I use Dex Tools through mobile browser sometimes it is not user friendly, will we see an official mobile app for android or iPhone soon?

Frederic | DEXT:

By now we are focused on the desktop app, but we always tried to make it responsive to all devices. It’s in our plans for the future to have an app, but it’s not a priority.

🦊 Tails:

@FruitSoda asks, Will dext ever venture out to other projects and connect it with it’s current ecosystem? Could we see a DexSwap coming…

Frederic | DEXT:

Haha, that is very interesting, thanks. Yes the idea of a DEXTswap is in our minds and we are looking for ways to make it a reality next year. We don’t know as our own exchange or agregator. By now we are 100% focused on the tools but if we can handle more development we have lots of ideas.

🦊 Tails:

@kyeoptadani asks, What will you do about fake token listings on the platform? Is there anything that could do to prevent this? Thanks!

Frederic | DEXT:

As I told before DEXT Score is the best way to check if a project is legit or not, with low scores you should avoid to buy and research the project very carefully.

But I want to make clear that DEXT doesn’t list coins, we only provide info about what happens at Uniswap exchange and others in the future. Every coin at Uniswap appear at DEXT automatically but the pool and trading are at Uniswap.

We are including more measures soon

Like a community vote to help with decisions.

🦊 Tails:

@nevahsnitch asks, Sometimes the prices update a little slower than uniswap real time prices, what can I do to get real time zero lag prices? Membership?

Frederic | DEXT:

Yes, real time is something to which we are moving forward in many ways. We are setting up another backup node to provide best quality data and improve security. Our code is reviewed and also improved every week.

And very soon websockets as I told before will be the most noticeable change

And users will have a very huge performance increase.

Our info will be almost instantaneous

Just clarify that in DEXT there are no more delays

All versions have the same data in terms of delay

Except 1 minute delay in hot pairs for free version

🦊 Tails:

WOW! There is so much updates coming for DEXT and the platform it self, I honestly don’t know where to begin. This concludes our AMA for today with you, I’d just like to thank you again for the patience of the Telegram Outage, as well as dedicating your valuable time with us here today and answering our questions as well as the communities questions. As I know you are a very busy person, so we appreciate this alot!

@gemchasers is really excited to be in an official partnership with DexTools and we look forward to collaborating and doing exciting things together 🤝

Till next time, as we will hopefully be seeing you around here often!

Frederic | DEXT:

Thanks to all gemchasers team for their great job, and I am glad to be here sharing a bit about our project here.

Good Trading to all