Crodex Telegram AMA Recap | Jan 28

Hey #CrystlCrew! Today we bring you a recap for the AMA we had with Crodex on Jan 28!

Crystl Finance Hosts: Jimmy (Lead of Marketing), Light (Marketing & Media Manager)

Guest: Ernest (Crodex Founder & Project Manager)

Introductions

Jimmy: Hey Crystl Crew, we are going to start the AMA with Crodex 😊 please welcome @crodex_e (Ernest) and be sure to have some great questions ready for the live segment as the best questions will win 1 $CRX each 🤩❤️

Ernest: Hey there 😄

Jimmy: Welcome to the Crystl Crew @crodex_e great to have you hear today :)

Ernest: Happy to be here with you guys

Light: Welcome @crodex_e! So thrilled to have you join us here today 😁

Ernest: 😄 it was long overdue to visit you!

Jimmy: Definitely, it seems like it’s been years since we both launched on Cronos, but Crodex was one of our first and best partners :)

Ernest: hahaha yeah, crypto goes extremely fast!

Jimmy: And we have all been enjoying the $CRYSTL — $CRO Farm on Crodex 💎😁

Ernest: Yesss 😄 We love Crystl too

AMA Questions

Jimmy: Good vibes all around :) To start off, can you tell us about your core team and their roles?

Ernest: Yes sure, well you got me here, I am one of the core founding members. Usually in charge of general project management; business administration; and so on

We got two core Solidity developers (they don’t like Telegram :p), who are the main wizards behind our dApps, one UI guru (she sometimes comes by Telegram), our community manager Laurie who I think everybody knows, and Cesar who is our business developer

We got two core Solidity developers (they don’t like Telegram :p), who are the main wizards behind our dApps, one UI guru (she sometimes comes by Telegram), our community manager Laurie who I think everybody knows, and Cesar who is our business developer

That’s the core CRODEX team. Then we got people like our AMAZING 3D artist who designer our NFTs

Jimmy: You have quite a diverse and experienced team :)
Super excited to get into the NFTs later and hear all about those

Ernest: Yeah 😉 I actually started working with crypto in the enterprise sector

Jimmy: Oh very cool :) it’s always interesting to see how we all got into the Crypto space

Light: Thanks for that overview of your team @crodex_e! 😁 With that, could you give us a brief overview of Crodex, your mean features and tell us what your platform is all about? 😊

Ernest: Yeah sure 😄 Our core philosophy is to be the most community-oriented platform at Cronos, so we have quite a few different dApps!

First and foremost, we got our daily bread and butter, our DEX/AMM

On top of this, we got our CROWD Launchpad — the first IDO there was CroKing, one of the most widely traded tokens at Cronos. They actually were amongst the top 3 gainers at CMC/CG 😄 so quite a successful launch

Additionally, we have the newly launched CRXILLION NFTs (Those are the sexy lions you see as our PFPs). They not only look amazing, but also have DeFi use cases at the Metaverse Hub

The Metaverse Hub was just launched — and it has special staking pools for NFTs (We are launching new pools for 3rd party NFT projects in approx. 3 days!)

It will also get integrated with our DEX to provide boosts to the traditional LP liquidity mining pools; and with CROWD to boost IDO allocations

Finally we got trading tools like our “Contract Auditor”, which allows people to check all allowances they have given with their wallet and “unrekt” themselves

Other tools are our Discord/TG bots for NFT sales or for real time pricing info

Light: Wow, so many different things going on over at Crodex! 🤩

Ernest: And finally of course, our TradingView charting/real time order book. That API is the data source for CG and CMC 😄 oh, and CNToken

Light: Your website really changed a lot since Day 1! Looking at it now is very exciting to explore so many new things ❤️

You guys have done an amazing job 😎👍

Jimmy: Wow you guys have so many different features, can’t wait to hear more about all of them :)

Ernest: Yeah, it’s a lot of fun 😄

Jimmy: Before we get into all the amazing features, let’s talk about your main token, $CRX. Can you explain the core tokenomics of it and the emission rate?

Ernest: Yes! So, $CRX has a fixed total supply of 100,000 CRX; it is emmitted mainly via our LP Mining Pools. These pools always last 28 days and get rebalanced. This way, we can adjust APRs, add/remove pools, and generally stay on top of what’s going on with Crypto. The upcoming Round 3 for instance introduces our new LUNA-CRO pool.

The Metaverse Hub automatically buys back CRX, and this is “recycled” into the rewards pools.

The CROWD launchpad requires CRX to access our IDOs.

CRXILLIONs cost 2 CRX to mint, the collected CRX is also “recycled” back to the rewards pools.

And finally, CRX is the governance token and will be used for the upcoming CROWD DAO

OH, and we are also going multichain 😄

We want to bring our NFT staking / DeFi integration to further chains

So that means the CRX supply will have to be shared across those chains and projects vying to get into the Hub

Jimmy: $CRX has a really cool tokenomic ecosystem, I love to hear that the whole platform works to balance out emissions and build up the token :)

This is awesome to hear, any leaks on which chain we may see Crodex on next? 😊

Ernest: Hahaha finalists are Polygon and Ethereum

Jimmy: Well let us know if you come to Polygon, that’s our hometown :)

Ernest: Will most certainly do 😄

Light: Sounds like the future of $CRX is very promising! Really like hearing that the token will be cross-chain! 🌐

With a hard-capped supply the long term benefits of having a business on multiple chains are very promising! 🚀

Its always interesting to talk about tokens! But how about NFTs? 😁

You have had an incredibly successful NFT launch with CRXillions. What was your inspiration for them?

Ernest: Right, well we wanted NFTs that
a) Look absolutely gorgeous
b) Allow our holders to express their individuality
c) Transmit power and strength

So we decided to launch a collection of big cats including panthers, leopards, ibris, with a lot of different clothing styles, accessories and facial expressions

the rarest amongst them also have special weapons like Katanas and some are even completely made of gold 😄

I think our artist met and exceeded our expectations with this collection!

Jimmy: They definitely did, and the 3D modeling is really unique in the NFT space :) do you have the link for users to go mint their own as well as the mint price?

Light: I have to say, your NFTs bring the quality standard to a new level!

I love the high definition look that they have and the details + variety of each! I can really feel your designer put a lot of work into them ❤️

Ernest: Yeah! actually there is a very good reason why they are 3D modelled: They will be integrated into Metaverse on-chain games. We already announced one project that is integrating them, with more to come!
They can be found at https://nft.crodex.app/crxillion/index.html at cost 2CRX + 400 CRO.

Also, they are traded at Ebisu’s Bay and Agora — the two largest NFT marketplaces at Cronos

Jimmy: Thank you, I may have to get my own after the AMA :)

We are actually working on our own NFT collection for Crystl, called Non-Fungible Crystls, so we will be joining you in the NFT space before too long 😊

Ernest: Wen integration to the metaverse hub ser?

Jimmy: Hahaha we will have to see about that too 🙂

With the CRXillions, I understand you have NFT staking for them on Crodex. Can you tell us about how your NFT staking works and if you will add additional collections to be staked?

Ernest: Yeah, so the idea is to let as many projects as possible “plug-in” to the Hub. We have received about 10 requests from NFT projects wishing to open staking pools at the Hub 😄

If people are interested, we got a short article about how the Hub works — https://docs.crodex.app/crx-metaverse-hub

Jimmy: Perfect, we will have to read over that thank you for sharing

Light: You keep mentioning the Metaverse which makes me really excited 😁.. Crodex has big Metaverse plans on the roadmap!

Can you tell us about this and what other items you have on your roadmap?

Ernest: Yeah! So we have lots of stuff in our Roadmap for this year, but some of the things Im more excited about are the upcoming CRODEX Incubator (Here we will provide support for promising projects looking to launch at Cronos via CROWD)

Also, the launch of the first in-house CRODEX metaverse game

Here is our whole roadmap for 2022 🙂 https://docs.crodex.app/roadmap-for-2022

Light: Thanks for sharing this, now I have some homework for today 👀😜

Really excited to see more of your incubator! 🤩

Cronos is such a promising chain because of the connection with Crypto.com! I’m looking forward to discovering many promising projects on Crodex soon 😁

Ernest: Yep, we are very bullish

Jimmy: We all saw the first CRODEX IDO become a top gainer token at CMC and CG this week. Can you tell us what is coming up next for the CROWD Launchpad?

Ernest: Oh yes, thats our next big thing coming up

So, CRK was part of what we call the CROWD beta, here we supported the team in something similar to what CRODEX Incubator will do. However, we are strong believers of the ‘decentralization of trust’ principle. Therefore, we do not see ourselves in the role of gatekeepers deciding what projects get to enter CROWD. Instread, CROWD will distribute the decision process on what projects to list back to our $CRX holders.

This is the CROWD DAO, Every time a new IDO proposal enters CROWD, two CRX-CRO vote staking pools are created: YES and NO. By staking their CRX-CRO LP Tokens at either pool, our holders are the ones in charge of governing what projects are able to enter CROWD.

By voting at either the YES or NO pools, CRX holders also earn Staking Rewards 😄

The harder they vote, the larger their allocation will be and if they add in some CRXILLIONs as boosters, well it gets even bigger 🙂

Light: 👀Wow, even more NFT utility

That’s a really interesting governance model! I’m a huge proponent of DeFi, really glad to hear your platform is going in this direction!

Jimmy: Definitely a great way to give both the token and liquidity a deeper use case and incentivize governance :)

Well what do you say we open up the chat for some live questions :)

Ernest: Lets go!

Live Questions

Elon Mask (@theelonmask): I discovered Cronos through Crystal as they were expanding from Polygon. I found CRX from one of the Crystl vaults and the rest is history. How do you think each project can synergize to be even more successful? For the other projects plugging into the Metaverse Hub for staking, is the reward in their token or is it CRX?

Ernest: We love Crystl not only because they very quickly integrated our pools into their platform, but also because we have been working together on things like for example onboarding further projects into Cronos + setting up Crystl integration for them; as well as collaborating on infrastructure issues since Cronos is still a very young chain

Jenny Hughton (@kilthuge): What is your top 3 things for priorities in 2022? Could you share some plans for the upcoming year?

Ernest: Prio number 1: Launch the CROWD IDO, this is the fully decentralized version of our launchpad. This includes the CROWD DAO launch; IDO Tier Program; CRX Metaverse Hub integration; and more.

Prio number 2: Launch the complete feature set of our CRX Metaverse Hub. This includes:
Integration with the CROWD Launchpad: Stake your NFTs to boost your yield while participating on CROWD Vote Pools.

Integration with Liquidity Mining: Boost your traditional liquidity mining $CRX and partner token yields with your NFTs.

Integration with Metaverse Games: Both in-house and third-party metaverse games will be able to plug into the wide array of projects joining the CRX Metaverse Hub.

Prio number 3: The CRODEX Incubator: Projects looking to launch at Cronos via CROWD Launchpad will be able to participate in our upcoming Incubator program, where mentors will help them with technical as well as economical expertise; ensuring the best possible success outlook for their launch.

PaulWalker (@PaulWalker122): There are many networks that are backed by CEXes, such as Okex and Huobi chains, and these networks often live and die by how well their CEXes support and promote them. For example, the Kucoin backed network is effectively dead because Kucoin wont do anything to support it, while the Okex one is thriving because Okex is supporting it well. Why did you guys choose Cronos over the other more established CEX-backed networks which have been proven?

Ernest: Actually, we started working on CRODEX back in June 2021. Crypto.com opened several Testnets on which we participated, testing the waters, seeing how serious CDC was about their chain, validating their technology. We also helped them find out some bugs at the very early stages.

In the end, of course, they decided to launch their own “DEX”; so our key competitive advantage is that we promote true decentralization (thats why we are moving towards CROWD DAO for example). Also, of course, we provide new services like the Metaverse Hub that competing platforms do not have.

Cronos is our birthplace, but it will not be our only home. I already mentioned before that we are going multichain, because what we have created at Cronos has a huge demand at other chains, we are intend to go where the demand is

Conclusion

There are so many great questions here… but I think those 3 were the most important to answer Thanks a lot for the great engagement 😄

If I didnt answer your question and you’d like to continue the discussion, feel free to join us at https://t.me/crodexofficial

Jimmy: Great questions and even greater answers @crodex_e thanks so much for taking the time to answer each in depth 🤩 It’s definitely safe to say we’ve all learned quite a bit about Crodex today and extremely excited and bullish for the future :)

Ernest: I am happy to be here, I think Crystl+Crodex together have lots of great things to bring to the crypto space

Light: It has been such a pleasure to have you here @crodex_e !

Thank you so much for taking the time to share all these insights on Crodex! Really excited to see how things go for you guys in the future 🚀!

Ernest: 🤝 It was my pleasure

Jimmy: A huge thank you once again from the entire Crystl Crew @crodex_e 😊 we can’t wait to have even more collaborations in the future 😁

Ernest: Same! 😄 Thanks a lot!

Crodex Links

Check out Crodex and join their communities through the links below!

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