Crypto Society Ama Recap with Kaddex — 5th February 2022.
Kaddex will be the first DAO Powered, multi-protocol, Gas-free DEX built on Kadena with LP rewards, fast settlements, staking and much more. Kaddex will have no private sales. Their Public sale will commence February 1 , 2022 on Tokensoft.
Bilo | Crypto Society
Hi Steve,
It’s our pleasure to have you with us today. I would like to welcome you here on behalf of our entire community.
Could we begin with a brief history of yourself and your team, and your roles at Kaddex and what you were doing before Kaddex?
Steve D’Agostino of Zebu!
Thanks so much @Bilo_2000 for having us here, I’ve been a member of this group for a while and always on the side-lines here following the conversation so I’ve been grateful to join the community here to tell you guys about Kaddex, our upcoming DEX on Kadena.
My name is Steve D’Agostino, I started in crypto in 2015 when I delivered pizza in San Francisco to the doge coin conference and they tipped me in doge, that opened my eyes to the world of crypto at large.
Bilo | Crypto Society
Hahaha. That’s so cool.
Steve D’Agostino of Zebu!
It was wild, they ordered about 100 pizzas.
I worked in crypto for various organizations but officially stepped into a titled role at Coin telegraph as their head of social media, before moving to OKCoin.
Bilo | Crypto Society
Wow — so you a doge whale?👀
Steve D’Agostino of Zebu!
I wish! I sold at fractions of a penny like a dumbass.
Bilo | Crypto Society
That’s quite the career path in such a short period of time. Congratulations on your success sir.
Steve D’Agostino of Zebu!
I moved from OKCoin to CMO of Ethernity which is an NFT project, before heading to Kaddex. The rest of the team is crypto native and some noobs.
The CPO is from Boeing, CFO is from Deutche Bank. We are still finding a CEO :0
If anyone here wants to apply?!
Bilo | Crypto Society
Thank you for the intro and background. Always interesting and fun to hear
Can you tell us about why you thought Kaddex needed to be built and what problem it solves? And How Kaddex started?
Steve D’Agostino of Zebu!
Kadena is a layer 1 POW coin… right now it stands as the most profitable layer one.
Kadena has seen some incredible gainz this past year which has created liquidity and depth to the project.
What makes Kadena amazing is that it is infinitely scalable, and NO GAS!
Bilo | Crypto Society
Steve D’Agostino of Zebu!
There is now a lot of development going on in the Kadena ecosystem.
And Kaddex will be the GameFi DEX of Kadena.
We can provide trading with no gas!
We are currently in beta, aiming to launch our prototype with vesting and tranches by let’s say end of Q1. And alot of liquidity on Kadena needing places to trade and develop the ecosystem.
Bilo | Crypto Society
No gas trading ✅
Bilo | Crypto Society
How would you describe Kaddex if you were talking to someone unfamiliar with digital assets?
Steve D’Agostino of Zebu!
Kaddex at its core is an AMM, similar to Uniswap or Sushiswap, but we feel that Kaddex as a whole can be so much more than that. It is a DAO, which is completely decentralized, and allows participation but we are also looking into lending, and development of educational resources for Kadena as well.
Bilo | Crypto Society
Kaddex DEX has zero gas fees. How do you manage this?
Steve D’Agostino of Zebu!
As I’m sure a lot of you know…gas sucks!
If I look back at how much ETH I’ve spent on gas the past year, it makes me wanna puke!
Ethereum forces you to cram as much as possible into a single contract to optimize for Gas, whereas with Kadena each contract has a dedicated purpose….
Cause of Chainweb… We can ensure smart contracts are secure by creating a finite number of inputs and outputs, this limits functionality, but because of how cheap gas is on Kadena, and how well it scales, this never becomes an issue.
Kadena has “gas stations” and we can front load these “Stations” as a dex and cover everyone’s gas fees.
Bilo | Crypto Society
Yes — great feature where Kadena incentivizes the nodes/miners through a pool rather than by choosing the highest paying tx. Great feature
Bilo | Crypto Society
Tell us a little about X-Wallet?
Steve D’Agostino of Zebu!
In order to enable all of this DeFi ecosystem we were looking for wallets.
Turns out, especially with solana and other chains sucking all the air out of the market, a lot of wallets were slow to add kadena.
As I reached around for partnerships, we slowly realized that we didn’t have a solid wallet to enable the DeFi interoperability so we developed X wallet. X wallet is a web extension wallet similar to metamask. we just launched 1.02, its free to use! and gives you a k: address.
https://twitter.com/XWalletOfficial
Bilo | Crypto Society
Is Kaddex interoperable and if so on which chains? And Why is it important in your view to have this interchain operability?
Steve D’Agostino of Zebu!
Kaddex currently only works on Kadena, but we have plans to work with partners to make Kaddex interoperable.
We are currently deploying wrapped assets as well.
kBTC, kETH, kUSDT.
Bilo | Crypto Society
Noice!
What is the Kaddex token used for? Can you describe the Tokenomics?
Steve D’Agostino of Zebu!
KDX at its core is a utility token for the Kaddex ecosystem, staking it enables all of its features. Users who stake their $KDX will receive 0.05% of all swap volume on the network, as well as earn increasing voting power over time in the DAO…
Kaddex will be progressively decentralized, and completely DAO run!
Voting power accrual via KDX is a function of a few factors, the first being how much $KDX you have staked, and the second being how long that $KDX has been staked for.
Users will start with a small representation of their total $KDX amount, but this will very quickly increase to a 1:1 ratio, from there users can expect to see their voting power slowly increase up to 2.5x!
This is done via calculations of the two primary smart contracts within Governor Prime, The Librarian and The Lexicon. The Lexicon pulls data from specified smart contracts, and The Librarian aggregates and interprets that data into a voting power output!
The Public sale for Kaddex launched Feb 1st, at 14:00 UTC, it will be hosted via Tokensoft, and users can register here!
https://onboard.tokensoft.io/?referral=kaddex
5,000,000 $KDX will be available during this sale and users will be able to purchase up to 100,000 $KDX at a price of $0.16 per token. There is a KYC requirement for this, and sadly US persons are excluded. We will be running an additional sale for 9% of the supply following this one as well if you cannot make it to this one.
Bilo | Crypto Society
How has the supply vs demand been so far?
Steve D’Agostino of Zebu!
We’ve sold over 50% as of yesterday, which is really really good! Roughly over 4 Mil.
People are still buying so we are letting it run till the 15th…
Bilo | Crypto Society
Congrats!
With so many launchpads out there, kindly describe how you see Kaddex’s unique added value that differentiates you from others and also what differentiates your DEX from others? What are the advantages of trading on Kaddex? Can you describe some of the more important features?
Steve D’Agostino of Zebu!
We want to see Kadena adopted globally, and for that to happen, we will be building all kinds of additional infrastructure for use on Kadena.
The gas obviously is a huge part of what makes us different in the ecosystem… that as well as the chainweb technology which allows infinite scalability of Kadena.
Kadena still has few trading options available, most KDA is traded on KuCoin or CoinMetro which are both CEX. Even though you need KYC to public sale which is not ideal for some people, you can use the DEX KYC FREE. You won’t need to KYC to Swap.
Bilo | Crypto Society
Tell us about your liquidity and farming protocols, and the projects that will be initially supported for trading, LP, farming etc… and if and when you’re planning on adding more and which ones you have in mind.
Steve D’Agostino of Zebu!
We are finalizing a few contracts, and putting them through testing. These include our staking, vaulting, and wrapper. Users who stake their $KDX will receive 0.05% of all swap volume on the network!
Public sale KDX is locked up for 6 -12 months which presents an amazing arbitrage opportunity early on.
These contracts are core to Kaddex’s functionality and enable features such as Single Sided liquidity provision, smart slippage controls, and more. No VC money!
We want to ensure that they are the absolute best possible for launch. Some projects focus on launching as quickly as possible to capitalize on markets, and as a result quality suffers.
This most recent Public Sale raise goes directly to liquidity, hence why we raised ETH BTC etc.
The next sale we will include other options and then we will launch.
Bilo | Crypto Society
Thanks — very informative and concise.
Can you please give an overview of your governance protocol, and how it works?
Steve D’Agostino of Zebu!
Since we don’t want whales having all the voting power in the DAO…
We established a tiered system of voting that incentivizes participation in our community especially discord.
Both of these systems can be implemented independent of each other, but work strongest when implemented at the same time. Both Governor Prime, and Vibedust will be implemented at Kaddex’s launch to ensure that governance begins with everyone on equal footing. The next step of this development process is ensuring that Discord can talk to Kadena, and vis a vis. That will allow us to run the DAO almost entirely through Discord itself.
Bilo | Crypto Society
So this next question is a big one…..
Unlike most projects, you made the decision to only have a public sale on Tokensoft. No Seed or private sales. Why did you make that decision?
Steve D’Agostino of Zebu!
This is a good question let me give a good answer.
1) Kadena is obsessed with compliance and playing by SEC rules and regulations.
2) We want to keep everything decentralized.
3) We had very little choice and basically were forced to KYC in order to create the legal framework we need to differential ourselves on a POW network.
We understand that it excluded people and that was a bummer so we are doing one more sale and will change some things to try to get more people in. Of course if you cannot buy KDX in public sale you’ll be able to buy when the DEX launches on the market itself.
Bilo | Crypto Society
Short term pain for long term gain.
Steve D’Agostino of Zebu!
We are happy with the numbers.
Bilo | Crypto Society
I have to congratulate you on your bold move.
Steve D’Agostino of Zebu!
I know it sucks for some people. I am US based and would have bought some KDX myself but could not. We are going to figure out some other ways to get people in and of course we have been able to prevent KYC DeFi which is critical.
Bilo | Crypto Society
Have you applied for a grant from Kadena?
Steve D’Agostino of Zebu!
Yes! we work very closely with Kadena ecosystem managers and the Kadena team. Soon you will be able to get ecosystem grants through kaddex as well and the DAO will vote on initiatives to fund.
Bilo | Crypto Society
That is very nice to hear. Important to get that stamp of approval.
Has your project been audited and if so by who?
Steve D’Agostino of Zebu!
We are currently being audited ! I believe its Certix but let me double check, that’s dev side of things 😅Because Kadena is written in Pact its way way more transparent than Solidity.
Bilo | Crypto Society
Are there any incentives to just holding Kaddex tokens?
Steve D’Agostino of Zebu!
Yes! If you stake KDX you will get KDA which is dope. We will create lots of different pools!
Bilo | Crypto Society
What are you currently working on and can you describe your future roadmap?
Steve D’Agostino of Zebu!
1. X-Wallet beta — Jan, 1;
2. Litepaper — Jan, 26;
3. X-Wallet v1 — Jan, 28;
4. Public Sale — Feb, 1;
5. Vaulting program — ready to be deployed (after the sales);
6. Bridged ERC-20 pairs — final testing (no delay foreseen);
7. 3d Swapping Interface — final testing (no delay foreseen);
8. Website refresh + team — minor edits and formatting (no delay foreseen);
9. Full launch — no delay foreseen.
All of this happening in Q1, 2022. This is the short list…
Bilo | Crypto Society
Could you please provide us with some challenges Kaddex has faced but overcome?
Steve D’Agostino of Zebu!
We are still facing lots of challenges. Not taking VC money obviously being difficult so we are doing it all with small buys and participation. We learned a lot in this last public sale, we are going to change some stuff for next time.
Bilo | Crypto Society
Crypto Society has evolved from a safe haven group with TA, FA, education and no BS to consulting and advisory and we would be happy to lend you a hand if you need anything.
Steve D’Agostino of Zebu!
You guys are an amazing group of Crypto OGs and I’m super grateful you let us in.
Bilo | Crypto Society
We are honoured to have you.
If there was one thing you could hope to see Kaddex achieve next year, what would it be?
Steve D’Agostino of Zebu!
Launch! and crush! I have big big goals, hoping for 1 bil TVL by 2023.
Bilo | Crypto Society
Steve D’Agostino of Zebu!
My job is to suck all the life out of SOL and other chains and bring the liquidity to KDA. Should be fun.
Bilo | Crypto Society
Is there any exclusive breaking news about Kaddex that you could share with us here today? I want breaking news, Exclusive, Front page material, Or else….
Steve D’Agostino of Zebu!
Ok literally I just was told we are up to 4.23 Mil in our public sale!
Getting close to 8, all that kdx will be locked up. Need more exclusive than that? So when we launch there will be less kdx over all!
Bilo | Crypto Society
Steve D’Agostino of Zebu!
We are also in serious talks with GameFi and Metaverse devs from animoca team.
That’s all you get… but you can put it together hahaha.
Bilo | Crypto Society
That’s amazing Steve! Thank you for indulging me. The group thank you as well.
Do you wish to let us know anything else that was not covered in the questions above?
Steve D’Agostino of Zebu!
Hmmm I think that’s about it! Be sure to get in on the public sale if you haven’t and I’m always here to help.
I’ll be sure to give you guys some more peak alpha as I know we have some Kadenians here.
Bilo | Crypto Society
Awesome — thanks!
With this, we will open up the chat for those who wish to personally thank you for your time with us here today.
Nicole
Quite like the idea of keeping it fair launch … no dumping 😊👍
Steve D’Agostino of Zebu!
Yes no dumping!
We are locking up a good chunk maybe close to 30 percent for 6 months to 2 years.
puzzle123
Why did you choose Kadena as your network?
Seems you are deep into the tech stuff, any other reason?
Steve D’Agostino of Zebu!
I chose Kadena because it’s a ripe ecosystem ready to be busted open.
DJTown
Do you not think POW is outdated and is being shamed ?
Steve D’Agostino of Zebu!
POW seems to be the compliance winner if you look at US regulations.
Julius
What exactly do you mean with “GameFi dex”?
Steve D’Agostino of Zebu!
Check out our site, our UI is a gameboy, we are going to include lots of gaming incentives to earn, stake and pool
Julius
As you said you plan also to be a launchpad: what kind of projects you are concentrating on besides Animoca? I guess other gaming projects? 😍
Steve D’Agostino of Zebu!
lots of gaming but also a balancer style protocol, reflection tokens, etc.
We are planning a robust ecosystem and NFT marketplace.
Bilo | Crypto Society
Thank you for your time in answering our questions here today. We are all very appreciative of your time and of the answers you have provided
Relevant Links:
Kaddex Website: https://kaddex.com/
Kaddex Telegram: https://t.me/KaddeXofficial
Kaddex Twitter: https://twitter.com/KaddeXofficial
Crypto Society Chat: https://t.me/cryptosocietyy
Crypto Society Announcements: https://t.me/CryptoSocietyyy
Crypto Society Twitter : https://twitter.com/cryptosocietytg
