Kudex AMA

Aug 13, 2021

Haiku – KUDEX

Sigh with much relief
Pleasant investing abound
Token locker holds LP

 

Drunknarwhal ๐ŸŒธ : Thanks for taking time out of your schedule to do this. Kudex has been one of the strongest communities to support HaiKU during itโ€™s development so Iโ€™m excited to be doing this. This our second official AMA so bear with us as we try to get through everything. We received a lot of user questions so weโ€™ll try to get through as many as we can without giving you carpal tunnel syndrome!

Drunknarwhal ๐ŸŒธ: To start off can you tell us a bit about the team, their background, and any information that you think would be important for a first-time investor to know about Kudex?

Always Green – Kudex.Finance: Thank you and welcome! We appreciate having you here ๐Ÿ˜Š

I’ve started work on Kudex when I first discovered the KCC chain, a few days after its mainnet launch.

@Brooojackย  helped me brainstorm ideas for the project, and from that point forward I didn’t stop working for around a week straight.

Always Green – Kudex.Finance : I’ve been a programmer for a long time, I can’t even remember how long, as far as I’m concerned it’s been all my life.

Learning about Solidity and React was really the ‘next level’ for me, as I started off with simple HTML, CSS and JavaScript, engaging with the EVM for the past year or so has been really eye-opening to me personally and has taught me a lot about programming in general.

Always Green – Kudex.Finance : I think first-time investors, depending on their level of experience with blockchain technology, should be very cautious about how easy it is to make a mistake, for example by sending funds to an incorrect address, people are not quite used to transactions being so permanent and trustless as with blockchain transactions, and many make the mistake of sending (often unfortunately quite large amounts of) funds to the wrong address, essentially burning their money.

Drunknarwhal ๐ŸŒธ: Very true. That’s probably one of my biggest fears. I end up checking things like a maniac

Drunknarwhal ๐ŸŒธ: It sounds like it’s a pretty small team. Any plans on expanding it in the future?

Always Green – Kudex.Finance : It really is, and that can be quite difficult sometimes, I do want to expand the team, without trying to force inorganic growth

Drunknarwhal ๐ŸŒธ: Hey even with a small team you guys are definitely one of the strongest I’ve seen

Drunknarwhal ๐ŸŒธ: I’m constantly impressed with what you guys deliver

Always Green – Kudex.Finance : Thanks, it’s great to hear that, I believe many people underestimate how much work we really put in ๐Ÿ˜Š

Always Green – Kudex.Finance : It’s not always visible from the user-perspective, of course

Drunknarwhal ๐ŸŒธ: Definitely there is always a lot going on in the background. I can only imagine how much more work you have going as a DEX. That’s not an easy feat at all.

Drunknarwhal ๐ŸŒธ: Something that I noticed really early on about Kudex, and I think most people have is that you have a very active community and you’ve really created a brand. It’s something great to see on KCC. How do you think you accomplished that. It’s definitely something that you see projects struggle with.

Always Green – Kudex.Finance : I think we’ve managed to create such a recognizable and unique brand by doing just that; being recognizable and unique.

It seems that almost every project launching these past few months is centered around the same repeating themes, dogs, cats, food, etc. etc.

Our brand is not based on a real-life object or animal, it’s really its own thing, and I think that’s what makes it such a strong brand

Drunknarwhal ๐ŸŒธ: Yeah – I know i’ve commented to you a few times how impressive it is to see all the user made art work and ideas. That is something that I don’t think any one sees happen a lot in projects.

Drunknarwhal ๐ŸŒธ: It’s refreshing

Drunknarwhal ๐ŸŒธ: Can you tell us about the project for new users that might not know what Kudex is. I know there is probably something for everyone.

Always Green – Kudex.Finance :

[In reply to Drunknarwhal]

For sure! A huge shout-out to @rhizonator, @loudestklaxons and @jumpkonki and of course everyone else who has contributed the most amazing art!

Drunknarwhal ๐ŸŒธ: Yeah – I know i’ve commented to you a few times how impressive it is to see all the user made art work and ideas. That is something that I don’t think any one sees happen a lot in projects.

Drunknarwhal ๐ŸŒธ: It’s refreshing

Drunknarwhal ๐ŸŒธ: Can you tell us about the project for new users that might not know what Kudex is. I know there is probably something for everyone.

Always Green – Kudex.Finance :

[In reply to Drunknarwhal]

For sure! A huge shout-out to @rhizonator, @loudestklaxons and @jumpkonki and of course everyone else who has contributed the most amazing art!

Always Green – Kudex.Finance :

[In reply to Drunknarwhal]

Of course

Kudex is an ‘Automatic Market Maker’ (AMM), which is a new and innovative form of currency exchanging, without a traditional order book.

This allows users to swap tokens through decentralized liquidity pools, removing the most crucial centralized component from the equation (hence, the difference between CEX and DEX).

We never have to hold or store a user’s funds, as they are stored in the contracts on the network, this is far more secure and decentralized, eliminating multiple attack vectors that plague users trading on centralized exchanges.

Through our yield farm, we incentivize users to provide liquidity for these exchange pools by rewarding them with our native KUD token.

Drunknarwhal ๐ŸŒธ: Can you talk a little about the token locker. I know we have all probably run into a liquidity issue on a token at one point or another(unfortunately).

Drunknarwhal ๐ŸŒธ: I know it gives users a real peace of mind

Always Green – Kudex.Finance: Many people scream “RUG” when a token drops in price, even if the drop is relatively small.

The classical definition of a rug-pull, is when the creator of a project removes such a large amount of liquidity from the token’s LP pool at once, that it becomes (nearly) impossible to trade / sell, and runs off with the money.

The token locker is one of our features that helps improve safety while trading, it allows a project’s creator / developer to lock up (regular or LP) tokens, allowing them to guarantee to their investors that they cannot sell their tokens or remove the liquidity from the pool.

Drunknarwhal ๐ŸŒธ: I love how easy it is to take a look and confirm the lock up time and other useful information. Really helps streamline the process of dyor.

Drunknarwhal ๐ŸŒธ: I know we’ve seen some new pillows get deployed can you go over how the bed functions. Do projects reach out to you to create new pillows?

Always Green – Kudex.Finance : The bed is connected to the launchpad, which automatically creates pillows when pre-sales successfully finalize.

The pillow creation function is public, allowing anybody to call it, this means anybody can create a pillow to airdrop tokens, but you do need the ABI interface (or a very lucky guess ๐Ÿ˜‰) to interact with it.

Drunknarwhal ๐ŸŒธ: Awesomeย  – that actually leads into my next question. The Launchpad – something i’m really excited about. I assume new projects need to reach out to you to utilize it

Always Green – Kudex.Finance :

[In reply to Drunknarwhal]

Nope! It is a completely decentralized, self-service platform!

Anybody can create pre-sales, at a cost of either KUD or IKU tokens, which will then be removed from circulation.

This comes with some advantages as well as disadvantages; the risk of fraud is increased, as we cannot physically stop scammers from creating sales (we can only hide them in the front-end), but we are working on some utilities that will warn users when something is wrong or suspicious about a token / pre-sale.

The reason we’ve decided to go with a completely decentralized and open platform, is that KCC can really benefit from projects launching on the chain, and by lowering the bar for entry, and improving the smoothness and user-experience for project developers, we hope to contribute to this goal.

Drunknarwhal ๐ŸŒธ: A lower barrier of entry is always a good thing and it’s something that I think will help the platform grow. It’s really nice to see projects focused on creating new use cases that help the project as well as the platform.

Drunknarwhal ๐ŸŒธ: Ultimately projects are the lifeblood of any chain so making it easier is great.

Drunknarwhal ๐ŸŒธ: So with IKU being the first coin launching on the platform can you tell us a little about it. What are some key tokenomic differences from KUD.

Always Green – Kudex.Finance : The IKU token will be the main utility token on Kudex, holding it will be required for certain features, and will give certain benefits as well.

We aim to achieve this by having three holder tiers; ๐Ÿฅ‡ Gold, ๐Ÿฅˆ Silver and ๐Ÿฅ‰ Bronze.

The amount of IKU tokens a user is holding in their wallet will determine which tier they have, and which benefits they are eligible to.

Its tokenomics are quite unique, it taxes every transaction at 7%.

5% of this tax is used to buy KUD tokens, and immediately burn them.

2% of this tax is reflect among holders, growing the stack of each user that holds the token in their wallet automatically.

I’ve personally never seen this applied to a token before, so I’m very curious to see how its effect will play out, we will be here to adjust the tax rate / ratio according to its need to ensure it optimally benefits the project’s sustainability.

Drunknarwhal ๐ŸŒธ: Sounds like a high IQ(KU) token. Sorry couldn’t help myself

Always Green – Kudex.Finance :

[ ๐Ÿฅ Sticker ]

Always Green – Kudex.Finance : *Badum tssss*

Drunknarwhal ๐ŸŒธ: Haha thanks I won’t quite my day job.

Drunknarwhal ๐ŸŒธ: I love seeing new token ideas like that and i’m also curious to see how it works. I like that you plan to adjust it accordingly based on what the project needs. Definitely something to look forward to

Drunknarwhal ๐ŸŒธ: I know you guys also just got back your Certik audit. Congrats on that by the way. I know you’ve discussed in here about some of the info on it, but can you go over that again for people who might have missed your responses.

Always Green – Kudex.Finance : Thanks, the audit’s results are very good.

In total there were 5 findings, of which 0 were critical and 0 were major, which is a fantastic result!

The issues that were found were quite harmless, for instance, there was a variable that was instantiated but never used or called, and the decimal numbers for the KUD token’s calculations is hard-coded, which would break if the KUD tokens had a different amount of decimals (it doesn’t, and won’t).

The other notes were related to the referral system, which we don’t actively use, and the reward lockup when emergencyWithdrawing.

All in all, these issues are harmless, and don’t warrant us to redeploy the entire project at all, and I’m very very glad about that! ๐Ÿ˜Š

Drunknarwhal ๐ŸŒธ: Thanks for laying that out for everyone. Passing an audit is a huge deal and definitely nice to see you be the first.

Drunknarwhal ๐ŸŒธ: What does the roadmap look like for Kudex? Any partnerships or features that you can discuss?

Any planned partnerships or features you can talk about right now?

Always Green – Kudex.Finance : Right now we are working on improving our platform, especially focusing on the launchpad, as we believe that this will be our engine in the future.

Many users have been asking for more marketing, we believe the best marketing will be projects launching on our launchpad and advertising their pre-sales.

It seems that this will require the KCC to grow as a whole, and we will do our best to market and advertise it, but of course this is not a burden we can carry on our own.

The first upcoming features people will likely see are utilities, most notably utilities that focus on improving people’s safety and security while trading, and helping users avoid scams.

Drunknarwhal ๐ŸŒธ: Utilities are a huge thing and right now it’s definitely not something we are seeing a lot of so I can’t wait to see the new tools. I think we can all agree that anything that helps remove some of the stress with investing in crypto is a huge.

Drunknarwhal ๐ŸŒธ: You are also right about the launchpad. That’s really the best marketing you can get. Right now is a great time to build and grow a strong community. The best way to do that is through organic means – not people looking for a quick flip.

Drunknarwhal ๐ŸŒธ: Whoops forgot the not there

Drunknarwhal ๐ŸŒธ: I think that about covers my questions. Are you ready to dive into some user submitted ones

Always Green – Kudex.Finance : Sure! ๐Ÿ˜Š

Drunknarwhal ๐ŸŒธ: How are things looking on the CMC and CG front.

Always Green – Kudex.Finance :

[In reply to Drunknarwhal]

We’ve applied for token listings on both platforms, but haven’t heard any response.

We have reached out to their support and were told to simply wait.

Multiple users have reached out to us in order to ‘purchase’ a token listing, but the chance of these being scammers combined with the price they are asking, is far too high and will most likely result in a loss of our funds, so we are playing the waiting game right now.

Drunknarwhal ๐ŸŒธ: Yeah it’s really unfortunate how scammers take advantage of that and I wish they would step in to make the process smoother for new projects. You guys definitely deserve it.

Drunknarwhal ๐ŸŒธ: I got a lot of questions asking if you were some kind of advanced AI – I assume because you seem to never sleep. How can we be sure that you are not part of skynet.

Always Green – Kudex.Finance : I am a human being, I was birthed by a human mammal, just like everybody else. ๐Ÿ‘€

Drunknarwhal ๐ŸŒธ: Hmm sounds a lot like something an AI would say, but I will let it slide for now

Drunknarwhal ๐ŸŒธ: What features that the team has rolled out are you most proud of ?

Always Green – Kudex.Finance : Definitely the launchpad, that was a ton of work, when I look at it now, it really doesn’t seem like it, but it is absolutely unimaginable how much work has gone into that.

I’m also a big fan of the analytics tools, special thanks to @xBA5EDย  ๐Ÿ˜Š

Drunknarwhal ๐ŸŒธ: Any plans for additional stickers of Kudexchan

Always Green – Kudex.Finance : We’ll have to ask @rhizonator about that ๐Ÿ˜‰

Drunknarwhal ๐ŸŒธ: I have to absolutely ask this one because it was by far the most unique question we received – Who is more muscular you or Brojack?

Always Green – Kudex.Finance : It seems that we may have an arm wrestling challenge on our hands ๐Ÿ’ช

Always Green – Kudex.Finance : We’ll get back to you on that

Drunknarwhal ๐ŸŒธ: Haha maybe a pay per IKU event for holders ๐Ÿค”

Drunknarwhal ๐ŸŒธ: What are your favorite things about the KCC ecosystem

Always Green – Kudex.Finance : I like how the chain really is community-oriented, although I would like to see a little bit more activity from KuCoin’s end, they are definitely owing up to their promise of allowing the community to run the network.

It’s also interesting to see how the ecosystem develops, since we were all here from the very start, the experience we’re accruing here might prove to be crucial for our future endeavours.

Drunknarwhal ๐ŸŒธ: Definitely putting the community in community chain for sure.

Drunknarwhal ๐ŸŒธ: My question that I like to ask developers when we do this – any type of things you’d like to see added to HaiKU.tools

Always Green – Kudex.Finance : I’ve noticed there is a “Hide ICO’s” button on the home page now, it would be cool to see ongoing / hot pre-sales on the Haiku.Tools home, perhaps only display those that have already reached the soft-cap and are practically guaranteed to finalize successfully ๐Ÿ˜‰

Drunknarwhal ๐ŸŒธ: That’s some great feedback. Thanks!

Drunknarwhal ๐ŸŒธ: I think that really covers most of the user questions we had. You answered a lot of them throughout this AMA. I really appreciate the thoughtful responses. I thought I was a fast typer, but you really blow me out of the water.

Drunknarwhal ๐ŸŒธ: Anything else before we wrap this up?

Always Green – Kudex.Finance : Thanks, haha

I don’t really have any more questions myself, so if you’re out of questions we can finish it up ๐Ÿ˜Š

Drunknarwhal ๐ŸŒธ: I think you covered everything that I had. Just a reminder to everyone I will publish this on our blog for users that missed it, and I’ll also send over a PDF for those who like to do offline reading.

Drunknarwhal ๐ŸŒธ: Thank you and the Kudex community for your time.

Always Green – Kudex.Finance : Awesome, what a service you provide!

Always Green – Kudex.Finance : Thank you as well ๐Ÿ˜Š

If anyone would like to check out Haiku.Tools, click here: https://haiku.tools/

And make sure to join their Telegram group: https://t.me/haikutools

Drunknarwhal ๐ŸŒธ: Thanks like you – we just want to see this grow

Drunknarwhal ๐ŸŒธ: and support it as much as possible