AMA DEXCussion: A Recap
Heads up, PRVarmy. PrivacySwap DEX is coming. So. ’tis the season for another AMA session!
To kickstart the AMA, we announced our new official ticker for our DEX token, PYDEX. After that, we discussed the price pegging. This is to reiterate the Telegram announcement regarding the price of PYDEX upon its release. 1 PRV2 is pegged at 0.002163 USD, while 1 PRVG is pegged at 0.108507 USD.
Next up, the team shared an updated roadmap to keep you on track with what had happened since the great migration and what you should expect from us this coming 2022.
As shown, we will release our DEX next month, January 2022. Next month, we will also be releasing the PrivacyCard loading platform. Moreover, we are pursuing a KYC verification from RugDoc. At the same time, we also aim to be listed on Tier 1 CEX in March 2022.
Further, we expect to release our NFT marketplace in the Q2 of 2022. Lastly, we will be unveiling our Hackernet Marketplace before 2022 ends.
2022 is indeed an exciting year for PrivacySwap, and we cannot wait for it to happen.
Moving forward, we discussed what exciting features you should see in the upcoming DEX. The new features include a complete revamp of our UI. This revamp will elevate users’ experience on the platform.
We also covered important information about the DEX, including the sales tax. Last migration, we lowered the sales tax to 8%. However, this led to token dumping, which significantly pulled PRVG and PRV2’s prices. So, to prevent dumping, we will implement a 20% sales tax on our DEX, as the community suggested. Don’t worry; we will gradually lower this sales tax. In addition, implementing this sales tax will also help us establish the DEX even further.
Furthermore, there will still be no deposit fees to native and nonnative farms and pools.
NFTs prices remain the same. Again, we will release the marketplace for NFT next year, 2022. So the best thing to do now is to hurry and buy these NFTs while BNB’s price is also low.
Initially, we announced that you need to stake at least 2000 USD worth of PRVG to enjoy the three-layered referral system. During DEX, EVERYONE can now enjoy this setup. Thus, successfully referring someone to the platform guarantees an 8% (of the referred person’s harvest) referral reward. You will also receive a 3% referral reward as the second-tier reward. Lastly, a 1% referral reward is guaranteed for the third tier.
Moreover, our marketing and collaboration are continuous, and you can see all the confirmed influencers, ads, and sites below.
Questions from the community
Furthermore, we continued the AMA with its main highlight, the questions from the community. Hence, here are some of the questions we gathered and their summarized answers.
Q1: How about NFT only staking pool? Is there any update, or we wait for the new DEX to be out before proceeding with it? I bought too many NFTs by mistake.
A: We will be launching that as well. The reason why we don’t have an NFT-only staking pool is because it is messy. The way a smart contract recognizes NFT and the way we want to deploy our contract is different. To put it this way, NFT is a token but not an ERC-20 or BEP-20 token. It is an (ERC)721 token. Therefore, the Masterchef had trouble recognizing the (ERC)721 token. It requires a totally different Masterchef.
Instead of doing that, we improved the current NFT staking procedure to make sure the calculation of the boost in rewards is better. We have already developed these contracts, and we will be sending them for audit.
We understand that there are people who bought extra NFTs. We are going to build an NFT marketplace so users can buy and sell their NFTs. There are also several initiatives being developed on the backend…We are constantly looking for a way to improve the utility of NFTs.
Q2:With the migration to the new token, will the roadmap be delayed? Are there any changes to the roadmap, and will there still be PRV3?
A: To answer the last question, this is PRV3; there is no more migration after this (DEX).
There shouldn’t be any significant items delayed, as everything is already done. We initially announced that this should come this Christmas. However, we cannot control the audits, which took longer. If anything happens, we will inform everyone ASAP.
Q2:What is the early unstake penalty fee structure?
A: There is no early penalty since you can not withdraw earlier(anyway)
Wrapping it up
The webinar ended with another set of Q&A as usual. Nonetheless, we continuously innovate and create ideas to improve the platform. We understand that there are some delays with the release. However, we ensure that we will use this spare time to improve our DEX and the whole ecosystem. We will constantly update everyone as soon as possible once we finalize everything.
For now, you can send questions, queries, suggestions, and recommendations on our official social media and websites below.