Cexlt(CLT) Community AMA Recap
We had an AMA on Cexlt’s community yesterday(December 3 at 12:00). Please refer to the following as a recap.
Q 1) What is your first step in making the CLT a truly vital part of the DeFi economy and ensuring that the CLT can generate income for its holders?
(Telegram ID : @Ressknight)
A) The first step we took to come into De-fi market was the partnerships with exchanges. We held a liquidity mining for the partner last October and we are very sure that majority of participants were better off.
When we consider partnerships, we do focus on mutual benefits and this mutual is not limited to us as a company but our holders. CLT token will be allocated for each farming section for their token as well as LP tokens. For this allocation, our partner needs to take one of the actions stated in our partnership agreement (NDAed so not able to fully disclose)
One example, which I explained previously, is their token (Partner’s) also needs to be distibuted to CLT holders on pro-rata basis.
Participating farming event is not the only way for the income but also those airdrops from the partners. This will be introduced when farming launches in few days.Guess income seems most important for our holders so I selected this first.
Q2) Can I stake CEX’s token ? What are these Staking criterias ?
(Telegram ID : @leojr_e )
A) We are going to announce it next week(maybe tuseday), and there will be two main ways to staking CLT. All can be done in the Finance Farming dapp, one method of staging only CLT tokens.
Another way is to stake LP tokens with eth. It will be paid higher APRs,I mean Rewards, because more money and risk are involved.
Q3) In this era of decentralization why do you choose to provide liquidity to token on centralized exchanges?
(Telegram ID : @bkcowx )
A) Centralized exchange tokens tend to have higher number of token holders. Those tokens are geneally traded on centralized exchanges where nobody out of the system knows what actual trading volumes are.
This also allows CEX to manipulate their token value as well as its volume.
CLT does work with CEX for more transparent trading environment for the CEX’s token holders.
And furthermore, majority of those CEX token’s utility is just like paying fees, buying something with it. However, by providing liquidity on DEX with CEX as a holder, they can enjoy doubled incentives that ‘Fee sharing’ from the Dex and CLT allocated for that.
So just to bring them out to the ground where everyone can play fairly.
Q4) Currently, there are many strong developing projects, so why should we choose $CLT and not others? What in $CLT makes you more confident than other projects?
( Telegram ID : @Frenbets )
A) You have many choices in the market. You also need to hedge your risk by diversifying your investment options. We want CLT to be one of the good options that users feel safe to invest in CLT, as a token, the reason being we are more confident than others is that we still have options that we can get investment from VC and corporates, but we didn’t.
I saw many cases that larger investors (generally VCs) who bought big number of tokens (maybe with time-lock) tend to sell most of the tokens they bought when time-lock ends and that is the time that the project loses momentum in price. We do not want this happen and hope this makes sense.
I do not mean that we promote speculators however since our long term value should be maintained so I would love to share with you this. If any tokens to be sold to larger investors we will kick off the CLT governance to make the decision. This is one of the reason that CLT price is well maintained — higher than listing price.
Q5) What is the team’s orientation and development plan for 2020 in the Defi region, why do you think Defi, this immature term, has a future? What results do you expect to achieve?
(Telegram ID : @Danielle111 )
A) First, we are finally able to launch the Yield Farming dapp next week after dozens of tests. Our development plan will focus more on connecting Cefi and Defi in the future. Our first partner, Bitsonic, has successfully provided Pool to Uniswap through a partnership with us.
Currently, many exchanges are requesting a partnership from us, and the development schedule accordingly will be further subdivided and the roadmap will be re-released as soon as possible.
P.S. We completed the developement and we already started testing. So it is not long to go :)
Q6) what are the ways that $CLT generates profits/revenue to maintain your project and what is its revenue model ? How can it make benefit win-win to both invester and your project ?
(Telegram ID : @cryptolover1010 )
A) Profit and revenue. Good question. It is pretty simple however let me recap. De-Fi generates revenue from couple of ways 1) Lending and Borrowing plus Fees and Charges from it. (Hedgeing strategy also requires) 2) Partner payment (We receive that as a marketing fee) 3) Misc (Dev and so on)
We are now in the stage between 2) -> 1). With the opening of our farming, our next roadmap will be introduced. FYI. All will be through smart-contract so that all will feel safe to work in simple however we are now at the stage of proving our tech :) Good to see our comprehensive finance dapp coming up.
Q7) You recently partenered with a Bitsonic exchange What prompted this partnership and of what benefits will this partnership be to $CLT holders?
(Telegram ID : @avidleel )
A) Since we came up with the idea of cooperation with centralized exchanges for their debut for decentralization, we actively communicated with multiple centralized exchanges. Bitsonic, they shared their ambition and vision to decentalization of their native token “BSC”.
We have noticed that their plans to Decentalization is very reasonble and our team believes that this will generate mutual benefits to both parties as well as the token holders. Bitsonic token(BSC) holders received good returns through the mining and eventually they successfully soft-landed on Uniswap.
This means that CLT holders, who were also Bitsonic token holders since the Liquidity mining was the only way to acquire CLT, were also better off. We have more CLT holders since CLT listing on uniswap and there will be many ways that they can get the reward.
The partnership with the exchange resulted expansion of our ecosystem, business potential and the community. We expect further expansion of our business capability through our next partnership or any other dapps. All benefits from this will go to CLT holders!
Q8) Token burn” is beneficial for any project, in being able to control the number of token circulation and to provide greater incentives to investors. Does your great project have a plan about token burn?
(Telegram ID : @maredith )
A) CLT holders already know however just in case new joiners are not aware of CLT burn.
1% of CLT burns on every transaction. 1.55% of total supply burnt already and this is approx 16% of circulating supply. It burns pretty fast as more trasnaction goes on. This is to tightly maintain our circulating supply which leads to the value maintainance too. Just FYI
De-fi projects is boarderless. We are users and community driven. I can say that we focus on partners not geographical station. Our partners’ native token will be up on our farming dapp and that represent our global adoption. This can be communicated within a week with the beginning of CLT Finance. We are in a crypto and we would love to be community driven. Hope this makes sense.