AMA Satoshi Club x Octaplex, July 22nd

We are pleased to announce our next AMA on July 22nd 2021 at 04:00 PM UTC Time: Satoshi Club x Octaplex

⚠️Click to see the hour
⚠️Total Reward pool: $500

⚠️Requirements:
👉 Join Satoshi Club Telegram group
👉 Join Octaplex Telegram group

We will have the following structure:

Part 1: 100$ /6 users – We’ll select 6 questions from the community. A user can post maximum 3 questions.

Part 2: 100$/10 users – Open chat for 120 seconds. You can post Max 3 questions. Octaplex Team will select 10 questions and answer them.

Part 3: 300$ – A quiz about Octaplex

For more details:
Octaplex Website – octaplex.xyz
Octaplex Telegram – @OctaplexNetwork
Satoshi Club – @satoshi_club
Russian – @satoshi_club_ru
Spanish – @satoshi_club_spanish

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⬇️⬇️⬇️ Leave your comments bellow ⬇️⬇️⬇️

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J Mags
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J Mags

According to your whitepaper, one feature and contract overview of Octaplex is the ‘Price Stabilizing Mechanics’, it ensures that token holders don’t need to fear sudden price movement of $PLX. We all know that cryptocurrencies are very volatile in nature, so can you explain how this mechanism works in the background? how can you stabilize and maintain the price of your token and avoid sudden pumps and dumps?

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@Jmagsss
J Mags
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J Mags

As of speaking, Octaplex is offering 6 different cryptocurrencies as a reward for its users, they can choose from $BNB $BUSD $BTC $ADA $ETH $MATIC & $PLX. As you have said in the whitepaper, “Octaplex wishes to include the community in choosing new tokens as EVERY WEEK there will be a new token added to the list!”. Who exactly can participate in the voting of the next coin to be listed in the rewards pool? Will there be a requirement for joining the vote?

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@Jmagsss
J Mags
Guest
J Mags

Based from your tokenomics, 1-2% of the maximum supply of $PLX will be allocated for $laika holders. By this, are you referring to the LAIKA Studios or the Laika Inu project and what made you decide to distribute a portion of the supply of your coin to those holder, are you currently in partnership with that project?

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@Jmagsss
John
Guest
John

In shapes geometry, Octaplex is often used to refer to a complex geometrical shape and I have read that your contract is very complex. This made it difficult to write your contract from any of the pre-existing code in the DeFi ecosystem thereby resulting in your developers creating a new code and copy, right from scratch. Why did you decide to base your projects on complex models and projections,and how has this make Octaplex unique? Since you said it was difficult to create your project using already existing smart contract template, does this mean that your ideas is novel to… Read more »

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@Highpee
John
Guest
John

Currently, some new projects on Binance Smart chain are short lived and some of them that promises reflexive yield in BNB often fade away due to the inability to continually provide reflexive reward to ecosystem users as the platform continue to expand. You will give users the privilege to earn at least 6 tokens reflexively into their wallet. How will you ensure you will be able to provide this rewarding structure sustainably over a long period? How is your project designed to create a stable investment which can give the developer the chance for further development and the community a… Read more »

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@Highpee
John
Guest
John

Looking at your roadmap, you have outlined a lot of great event to be accomplished as part of your future plan. Two of such events is the release of your own the launch of your stablecoin and the release of Octaplex wallet which will be known as Octawaller. Why are you releasing your own stablecoin? Will the stablecoin be pegged to USD or will it be focusing on other FIAT? How will it be collateralised to reflect its stability or will this be algorithmically driven or pegged to a baskets of asset? And for the Octawallet, what will be the… Read more »

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@Highpee
Marian
Guest
Marian

It caught my attention the fact that Octaplex has said that it’s contract has been made from scratch, can you tell us what led you to take this decision? Also, when contracts used other ones as examples it is easier to know what things to avoid or not in order to not make the same mistakes previous projects made with their contracts and their security. So, I was wondering, how secure Otaplex’s contract really is? Have you audited it before? How can we be sure that this new and totally unique contract can provide us the security we all need?

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@meml97
Marian
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Marian

While reading about Octaplex I saw that you are implementing a brand new idea to the popular frictionless yield concept. Can you tell us more about this new idea you came up with and why did you decide to create this new concept? What kind of innovations will your frictionless yield have? What will make it different and better from the frictionless yield concepts we already know? What benefits will people get from this?

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@meml97
Marian
Guest
Marian

It caught my attention that Octaplex claims to have a price stabilizing mechanism, can you give us more details about it? How does this mechanism exactly work? How will this price stabilizing mechanism asure users that they won’t need to check the chart every minute in fear of sudden price movement? Also, what do users need to do if they want to start enjoying this feature? Will they need to pay something for it?

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@meml97
Nhairy
Guest
Nhairy

All the alternatives and benefits offered by OctaPlex are amazing, a very well structured and well-founded project, but there are 3 DeFi aspects that have not yet been fully resolved: interoperability, scalability and security, as they have been able to adapt to those conditions. that OctaPlex achieves will be only for internal use of your project exclusively or in the future, other projects may implement them, to tell you how DeFi, CeFi have done it; what are your long term plans?

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@nhairym
Nhairy
Guest
Nhairy

Just as they have included and will continue to incorporate new tokens, have they considered creating a cross-chain project and combining several blockchains and taking from each one the aspects that most favor and adapt to OctaPlex? What do you think could be the best option to combine with Binance Smart Chain and DeFi?

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@nhairym
Nhairy
Guest
Nhairy

Could you please explain a little more about the selection of the percentage, or is it referring to the fact that each token of the 7 already included in the program, each one already has a preset percentage so that when selecting it it would be automatically with that percentage, for example if I choose BTC, its percentage will be 15%, right or am I wrong?

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@nhairym
Ariana
Guest
Ariana

Your previous project, Octans Protocol was created to combat some concerns in the DeFi world such as Yield Farming, Liquidity Mining and Staking. Olaplex is totally different from your first start but there’s still some good ideas that might be preserved such as that one. From my perspective one of the biggest risks regarding these features is impermanent loss. Can you tell us your strategies to combat impermanent loss and other risks in DeFi? What’s innovative through your risk-management strategies?

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@Arisabela
Ariana
Guest
Ariana

You apply different taxes for buying and selling $ PLEX and the selling tax in time dependent. Could you explain this mechanism and how profitable is it to incentivize your users to hold your token in long term? And please clairify the Payouts subject, how do you return profis to your holders in multiple tokens? What are the advantages of doing it like that?

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@Arisabela
Asela Priyashantha
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Asela Priyashantha

In Q1-2022 Roadmap, you hope to release Alpha, beta and launch of “Octawallet”. Can you give a sneak peek about this wallet & the unique tools, features of it? Can we use it as a multi Coin wallet such as Trust Wallet? Which security techniques/tools will you deploy on Octawallet?

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@Asela1112
Asela Priyashantha
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Asela Priyashantha

Focusing on $PLX tokenomics, on whitepaper one million of $PLX are allocated as 30%- Presale,66%-67% Launch, 2%- admin team & 2%- Airdrop. Most of projects allocate a small percentage for Partnerships & burning purposes. So why didn’t you consider about that matter in token allocation? Can you tell us the concept of $PLX token allocation model? And also you incur 10% of buy tax, alloacted on 4% Payouts in $BTCB, $ETH, $BUSD, $MATIC, $ADA, $BNB & $PLX, 4% -Auto buyback, 1%- Marketing in $Bnb, 0.6%- admin & 0.4%- mods. What are you going to do with auto buyback $PLX? Will… Read more »

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@Asela1112
Asela Priyashantha
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Asela Priyashantha

Octaplex offers a reward system, consisted with variety of 7 different tokens $BNB $BUSD $BTC $ADA $ETH $MATIC & $PLX. Why is this 7 token reward system? Why don’t you use only $PLX for rewards? And also you mentioned, users can select up to 6 tokens to get rewards. So will users be able to choose their own percentages to get their rewards? Meanwhile you hope to add a new token in every week to the list. When will you begin to add more tokens? Will $TRX be available in reward list?

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@Asela1112
AmaRis
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AmaRis

In your roadmap Q3, I noticed your presale on Dxsale on July 27, could you please provide more information on this? Do we have to join any whitelists? Are there any more plans after this presale?

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@NAZMP2
Jonah Apagu
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Jonah Apagu

The ecosystem of Octaplex is being developed to resemble the complex geometrical shape “Octaplex” which is a four-dimensional geometry composed of 24 octahedral cells with six meeting at each vertex, and three at each edge. And has 96 triangular faces, 96 edges, and 24 vertices.. so how does the properties of this geometrical Shape “Octaplex” guide or influence how The ecosystem of your project is being built, apart from the fact that this is a complex shape, what are the specific reasons why this Geometrical shape was selected by your project, in other words why are you building your ecosystem… Read more »

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@Jonahapagu
Jonah Apagu
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Jonah Apagu

Octaplex is implementing in its ecosystem a brand new idea to the popular frictionless yield concept and also create a reward system that will reduce dump pressure from holder’s rewards and give the holders a choice from a variety of tokens to choose from… so what brand new Idea to the popular frictionless yield concept is Octaplex implementing, and how does your reward system work, and how does this reward system reduce dump pressure from holder’s rewards..

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@Jonahapagu
Jonah Apagu
Guest
Jonah Apagu

A Unique feature of Octaplex not found elsewhere is that users will be able to choose which tokens and at what % ratios they want to be rewarded with, and currently, there is a variety of 7 different tokens for users to choose their rewards from and also a plan to include the community in choosing new tokens as EVERY WEEK there will be a new token added to the list.. so in what percentages can users choose to receive their rewards in, what is the minimum or the maximum number of tokens they can choose to receive their rewards… Read more »

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@Jonahapagu
Ashi
Guest
Ashi

As I understand on your medium, One of Octaplex’s features is to build a reward system that will lessen dump pressure from holders’ rewards by giving them a choice of tokens to select from, and each holder will receive prizes through the Claiming Dapp in tokens of their choice. Can you tell us what percentage of my chosen token I will receive if I hold $PLX ? Are the rewards are calculated base on daily or hourly? Can you give us example of this reward system for transparency? And how sure are you that it will lessen the dump pressure… Read more »

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@Ashia_24
Ashi
Guest
Ashi

On your roadmap I saw that on Q4 2021 you will start to develop your “Octawallet”. Can you give us an sneak peek about this wallet? Is this wallet compatible with android or IOS devices? Will you adopt more tokens for your Octawallet? Is KYC needed for this wallet?

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@Ashia_24
Kaushalya
Guest
Kaushalya

You have indicated that users can receive rewards with seven different tokens, namely, $BNB, $BUSD, $BTC, $ADA, $ETH, $MATIC and $PLX. What is the reason for choosing these particular tokens? For example, $BUSD is there, but $USDT and $USDC options are not available. Offering rewards in this manner is a great advantage for users. However, what are the benefits from your side? Doesn’t it cause an inconvenience for Octaplex? In addition to attracting users, are there any special reasons to continue this kind of rewarding system?

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@DK177
Kaushalya
Guest
Kaushalya

It caught my attention that you are planning to create an ecosystem network of different tokens. However, I could not find any time frame. What have you done so far to make this concept a success? Did you face any difficulties? If yes, pease explain the methods you have applied to overcome the issues. When will you be able to complete the creation of this ecosystem? Did you indetify any competitors?

Telegram Username
@DK177
Kaushalya
Guest
Kaushalya

According to your tokenomics, there is a buy tax of 10%. Why did you apply this kind of high tax? Don’t you think users will reluctant to buy tokens due to this? In that tax, 1% has been allocated for marketing and another 1% for admins and moderators. Why did you allocate funds for marketing and the team from a tax? Shouldn’t you have deducted those expenses from the total allocation? Further, 4% of the buying tax has been allocated for auto buyback. Please explain how this feature works on Octaplex.

Telegram Username
@DK177
Essence
Guest
Essence

The project will reward it’s holders in multiple tokens of choice where every holder can choose up to 6 different tokens in different ratios that they can get directly rewarded with into their wallet , without the need to stake or farm by frictionless yield; how will such structure intends to encourage investor- commitment to invest their assets into the project? Are there no plans to add more assets as reward apart the (6) six you mentioned in your white paper?

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@Billz120
Essence
Guest
Essence

From the White Paper, on the Deflationary aspect, where every transaction will include a tax out of which a portion shall get automatically bought back to increase the price and immediately burned so that the supply decreases and values goes up, don’t you think that this type of reward structure would be more beneficial to Whales who may manipulate reward distribution to their advantage? Do you have plans for anti-Whale control and fair distribution of reflexive yield?

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@Billz120
nadir
Guest
nadir

While I was checking the tokenomics of OctaPlex’s coin, I realised 2% of the total supply is reserved for airdrops. Can you please explain what should users do to receive these airdrops? Some projects are guiding the audience beforehand by giving some steps for getting these airdrops but some keep it in secret and reward the active users. Which one will OctaPlex do?

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@xperia3
Essence
Guest
Essence

Hello,
Great having Octaplex on board with this laudable innovation. However, can give details on how Octaplex protocol meant by solving the issues current projects have, and the new concept that is upgrading the concepts recent (successful) projects have been building on?

Telegram Username
@Billz120
nadir
Guest
nadir

As I see in the roadmap of OctaPlex, you are aiming to start developments of OctaSwap, OctaWallet and OctaBridge. These all are very big steps. How long do you plan to release these features? Which one will have more priority in the development team of OctaPlex? Can OctaPlex be sure for creating a good level of security for all these features?

Telegram Username
@xperia3
Andrey
Guest
Andrey

Hi Octaplex!
I noticed an interesting feature while perusing the Octaplex whitepaper – your smartcontract boasts the ‘Price Stabilizing Mechanics’ which is supposed to ensure that token holders are protected from sudden price movement of $PLX. I’d like to ask how exactly this stabilizing mechanic works since all tokens that are not classified as stablecoins are quite volatile as we see daily. Do you peg $PLX to stable less volatile assets to avoid sudden jumps in price?
Thank you!

Telegram Username
@andrey_seleznov
Andrey
Guest
Andrey

Hi Octaplex! There are plenty of projects on Binance Smart Chain that use redistribution earning model for holders and try to survive on transaction fees. Unfortunately many of them suffer from the token price collapse and die off very soon, especially in current market conditions. Octaplex’s unique model allows users to earn rewards in the form of up to 6 different tokens in the proportion users wish. Please tell us what are the main features of your model that should allow Octaplex to survive and prosper together with investors over a longer timeframe? And finally, if a user chooses to… Read more »

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@andrey_seleznov
Andrey
Guest
Andrey

Hi Octaplex! Octaplex’s documentation mentions that your smart contract had to be made from scratch due to its high complexity. You could not reuse code from the existing DeFi projects so your developers had to create a completely new smart contract. This approach has its pluses and minuses from where I stand. Such new code is less likely to suffer from the common bugs copy pasted from other sources but at the same time the risk is high to introduce new vulnerabilities that are not widely known and may be not easy to proactively spot and fix. As we are… Read more »

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@andrey_seleznov
Khalee
Guest
Khalee

Octaplex is a hyper-deflationary token that incentivizes investors for holding tokens while also trying to incorporate both the buyback strategy and the 7 Crypto Coin rewards that are currently available in the market. Can you share to us what are these 7 Crypto you are referring and how does your buyback strategy works? How will you explain your buyback system to a crypto newbie?

Telegram Username
@KhaleesiTheCryptoLady
Khalee
Guest
Khalee

OctoPlex developed a reward system that will reduce dump pressure from holder rewards and provide holders with a variety of tokens to choose from. In addition, each holder will receive rewards through the Claiming Dapp, but in their chosen tokens. Can you give as a simple example of this reward system you developed. When does the reward usually reflects in wallet, is it real-time once ticking the Claiming Dapp?

Telegram Username
@KhaleesiTheCryptoLady
Rыs'ka
Guest
Rыs'ka

Today you announced your partnership with Slance. You reported that Slance will help to increase community trust with factual video content.
Octaplex partnerships get this content at a reduced price. Please tell us what Slance is, how important is your union, and how the community benefits from this partnership? And what kind of content are we talking about, saying that Octaplex partnerships get this content at a reduced price?

Telegram Username
@NataliyaKil
Rыs'ka
Guest
Rыs'ka

When Octaplex launches there will be a variety of 7 different tokens to choose your rewards from: BNB, BUSD, BTC, ADA, ETH, MATIC and PLX. So each holder may choose up to 6 different tokens and choose their own percentages in which they shall get their rewards. Why did you define these 6 tokens for rewards, how can holders customize this process, can you give an example of how rewards are calculated?

Telegram Username
@NataliyaKil

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