LBank AMA Recap with Position Exchange(POSI)

Position Exchange

Introduction:

GUEST:

Position Exchange is the new Decentralized Trading Protocol, operating fully on BSC.

The protocol offers easy and accessible Derivatives Trading in which users can trade Crypto Derivatives Products fully on-chain transparently and trustless, with high security, and privacy. The platform is designed to deliver all the advantages of Decentralized Finance whilst bringing the traditional Centralized Finance experience and tools onboard. To mention High leverage, low slippage, and low costs as well as limit orders all while solving the liquidity issue using the vAMM.

Position Exchange is empowered by the POSI token, its native utility token serving as the backbone of its Ecosystem. Holders can stake, farm, and cast NFTs to grow their POSI balance as well as participate in Position Exchange’s governance and shape its future.

First five AMA Questions (First Part):

QUESTION 1:

What is your background? How did you come to start Position Exchange?

GUEST:

We are based in Singapore, The team members and collaborators behind the project are multidisciplinary and have extensive experience in Programming, Smart contracts & Blockchain, Finance, Trading, and Crypto industries along with a high understanding of economic conditions.

The name Position Exchange was chosen to represent the core feature and goal of the platform, which is to provide and make accessible Trading, especially Decentralized Derivatives Trading, to all users.

Recently, many Decentralized Exchanges have been developed, such as Uniswap, PancakeSwap… However, there is still a lack of Decentralized Trading platforms that bring on-chain Derivatives Trading with the same experience and all the advantages of a Centralized Exchange like liquidity, UI-UX, Limit Order, etc. This is where the idea came from.

QUESTION 2:

What is Position Exchange? For those who may not know, what is an on-chain trading derivative?

GUEST:

Position Exchange is a Decentralized Trading Protocol, powered by a vAMM and operating fully on BSC. The protocol offers easy and accessible Derivatives Trading in which users can trade Crypto Derivatives Products fully on-chain transparently and trustless, with high security, and privacy.

Unlike in Traditional Derivatives Trading, in on-chain trading, there is no broker required. Instead, settlement automatically takes place on-chain, where the terms of the smart contract are fulfilled. The intersection of DeFi and derivatives is a gamechanger, bringing yet another borderless, low-barrier, financial instrument to the world.

Our platform is designed to deliver all the advantages of Decentralized Finance whilst bringing the traditional Centralized Finance experience and tools onboard. To mention High leverage, low slippage, and low costs as well as limit orders all while solving the liquidity issue using the vAMM.

QUESTION 3:

What are the main features of Position Exchange?

GUEST:

The core feature of Position Exchange is the Derivatives Trading Protocol, which will offer on-chain perpetual futures Trading on Binance Smart Chain and the mainnet will launch in September. Along with it, we offer Swap, Farming, Staking, and an NFT feature where you can cast and stake NFT cards to generate rewards.

We are also working on our own DAO interface where POSI holders can vote and shape the project’s future. Position Exchange is trying to create its own Ecosystem allowing users of all interests to use the platform and be a part of the POSI community.

QUESTION 4:

What is $POSI, and the Usecases of Position Exchange?

GUEST:

POSI is the native utility token to Position Exchange empowering its Ecosystem.

Unlike most of the recent tokens created by other exchanges mainly for crowdfunding purposes and for reducing the trading fees, POSI comes with a different and unique approach.

All the fees and revenues from the protocol will be distributed back to all POSI holders by a mechanism called Buy-Back and Burn fully on-chain. This would mean, just by holding POSI you’re a stakeholder and will be able to receive a share from the revenue.

Along with the mentioned, holders can get reduction on protocol trading fees, increase their POSI balances through the RFI technology, Stake, Farm, cast NFTs and Vote.

QUESTION 5:

How can users know that you are a long-term platform? What would happen to Position Exchange when the inevitable bear market comes? Would Position Exchange still be standing and building once all the panic sellers have exited the market?

GUEST:

As our users know well, POSI v1 was subject to an exploit. We have successfully recovered and refunded all our users. We have locked our liquidity tokens for 5 years.

The Team behind Position Exchange does not hold a large amount of POSI. It is fully controlled by the Community. We have successfully transferred the owner contract to a Governor + Timelock contract that requires POSI holders’ votes to be accessible.

This shows how much we are committed to the long term and to our Community. Position Exchange will allow stand by its community, we showed that previously and we received a tremendous amount of support back which was really heart warming. We already created a strong bond with POSI holders and we will continue to build on that.

Selected five Questions with Answers from the Telegram community (Second Part):

@dennies45

QUESTION 1:

Q) Many projects rug pulled and exit scam recently. Why should investors trust in this your project not to do the same?

GUEST:

We understand that security is the main priority and most important concern in the DeFi industry. We do not want to put user’s funds at risk. We have just conducted an Audit with Certik: https://www.certik.org/projects/positionexchange

We will also implement a bug bounty program for the community to participate in Position Exchange security.

Note that: We have successfully transferred the owner contract of Position Token and Treasury to a Governor + Timelock contract. Every request to change the major components of the smart contract will require the approval of the POSI holders. All processes will take about 48 hours to be completed.

The POSI token is officially fully controlled by the Community.

@CorrinLavoie

QUESTION 2:

Without proper marketing and capital infusion, project dies, how do you convince us you have adequate marketing power and capital to push this project to the top project?

GUEST:

Yes, we are. We have a big Marketing and communication plan to make the world know POSI. We have already published Press releases on Cointelegraph and Bitcoin.com. We have major partnerships, listing, and much more coming. Position Exchange will have collaborations with high-profile projects and influencers to reach a global target. Our Community is growing bigger every single day.

As for the capital, we have reserved a big part in the development plan for communication and Marketing. We expect Position Exchange to be a real global platform by the end of the year.

@GeralynWilkinson

QUESTION 3:

Almost 4/5 of investors are focused purely on the price of token in short term instead of understanding the real value and health of the project. Could you tell us on motivations and benefits for investors to hold your token in long term?

GUEST:

Position Exchange is a project with a long-term vision. We are trying to create our own ecosystem and establish a platform that could compete with the world’s best. Continuous innovation and improvement will be the keys to create a sustainable project that would last for years.

The team does not have any tokens at the time being and is investing all its hard work in the future of POSI. This shows how much we are committed to the long term and to our Community. Because we know we are here for the long run and we believe in what we could achieve.

We believe that when the investors understand Position Exchange, how it works in its future plans, they simply know that this project is different and not like any other one.

@Lylepeyton

QUESTION 4:

Do Token holders have right to participate in the governance of the project? On what kind of decisions can they vote on about the project?

GUEST:

In Position Exchange, the holders are the ones responsible for 100 % of the decisions and for shaping the future of the platform.

Holders have to right to submit proposal and vote on everything happening in the platform from features to partnerships.

This is truly a community-driven project where holders are true owners.

@bbrooks066

QUESTION 5:

Do you have an ambassador program available? If yes, how can I join it? And may I know what’s the benefit available for the ambassador?

GUEST:

We have a referral program allowing users to generate rewards by referring friends. You will be able to generate a 5% commission on all your referrals Farms and Pools rewards. This is a very good way to make a big passive income. You can simply go on our website on the referrals tab https://app.position.exchange/referral and copy your referral link.

Click here to download for iOS or Android

Website: https://lbank.info
Twitter: https://twitter.com/LBank_Exchange
Facebook: https://www.facebook.com/LBank.info/
YouTube: https://www.youtube.com/c/LBankExchange
Telegram: https://t.me/LBank_en
LinkedIn: https://www.linkedin.com/company/lbank
Medium: https://medium.com/LBank
Reddit: https://www.reddit.com/r/LBank2021/

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