Hello, Satoshi clubbers! Another AMA took place in Satoshi Club and we would like to introduce to you the AMA session with our friends from Cryptocurrencies.ai and our guests was @hishamkhan1 who is CEO and Founder at Cryptocurrencies.ai!. The AMA took place on 17 April.
The AMA session was divided into 3 parts with a total crypto reward pool of 500$
In this AMA Recap we will try to summarise the most interesting points for you.
Part 1 — introduction and questions from the Telegram community
Gold Rocket | Satoshi Club: Hello, dear community!
D. | Satoshi Club: good day Satoshi Club! we are starting AMA session with cryptocurrencies.ai !
today our guest – @hishamkhan1 !
Gold Rocket | Satoshi Club: Our guest today is @hishamkhan1 – CEO and Founder at Cryptocurrencies.ai!
D. | Satoshi Club: hello! how are you doing?
Hisham Khan: Hey everyone, really excited to be here!
Doing great!
Gold Rocket | Satoshi Club: Hello and welcome to Satoshi Club, @hishamkhan1!👋
D. | Satoshi Club: welcome to our club! 😊
Hisham Khan: Thank you
D. | Satoshi Club: [ 👍 Sticker ]
let’s begin our AMA! 🥳
Gold Rocket | Satoshi Club: Introduce youreself. How did you get to be involved in crypto & cryptocurrencies.ai?
Hisham Khan: Sure, I have been a product builder for 10 years, working at various fortune 500 companies as a Product manager where I was involved in building enterprise software. This led me to Bloomberg eventually where I got into the financial technology industry. Discovered crypto in early 2017 and became a long term believer instantly. I left Bloomberg and been working in this industry ever since.
When I joined the crypto industry I realized immediately that the experience of trading was not at the standard it needed to be at. Being at Bloomberg I had seen what the best fintech product worked like and there was an opportunity to provide this to the crypto trading community. I was fortunate to gather a really strong team around me and we set out to try different exchanges. They all offered similar types of functionality and this is when we decided to build a next generation exchange which gives powerful tools to the user.
Gold Rocket | Satoshi Club: Wow! Great background👍
What is the essence of your project?
D. | Satoshi Club: could you tell us a bit about your team? how many people working at product?
Hisham Khan: Cryptocurrencies.Ai is a next generation exchange offering CeFi and DeFi within one platform, with a full suite of trading products so users don’t have to use multiple exchanges and trade their capital efficiently.
A trader can trade 125x Futures on our Centralized exchange and then easily move funds to our Solana wallet where they can trade on our DEX which is built on Solana, the world’s fastest and cheapest blockchain. Traders can put their capital to work by trading on our Centralized exchange or using our DeFi products which will include pools and yield farming in the near future.
We have a team of 10 and most of us have been working together for the last 2-3 years.
Gold Rocket | Satoshi Club: I think this should make life easier for traders. 😉
Hisham Khan: That’s the plan 😀
D. | Satoshi Club: nice! 😎 thank you for the intro! if you are ready we can open the first part of AMA? 🙃
our community has some very intersting questions 😉
Hisham Khan: Let’s do it.
D. | Satoshi Club: 🚀🚀🚀
Q1 from Telegram user @Arisabela
Cryptocurrencies have come a long way in the last two years and now all protocols are adapting smart systems, with data and price feeds in real time adaptable to every user, in which features does Cryptocurrencies.Ai include artificial intelligence and how do you plan to incorporate it into everyday life of each trader?
Hisham Khan: To clarify the Ai in our name stands for “Actionable Insight” however we had some ideas in the past that would incorporate AI models. We haven’t began work on them yet but it is in our plans.
We do offer Smart trading which is the most advanced yet easy way to trade crypto on a exchange. It offers the ability to automate and customize your trading which no other exchange offers.
D. | Satoshi Club: haha thank you for this clarification 😄
can you compare your product with any other projects on the market which working in the same direction as you do? do you see any competitors?
Hisham Khan: Most of the CEXs are our competitors even DEXs since we are launching both.
Our CEX is unique and no exchange offers Smart trading. We believe that exchanges will continue to innovate to remain competitive in the space and that is why we wanted to take the lead with the tools that we offer. At the same time we partnered with Binance so we can offer the best liquidity on our CEX from the day of the launch.
CCAI’s DEX is one of the fastest and cheapest in the world because it is built on Solana and that is a huge advantage over other DEXs
D. | Satoshi Club: yeah, partnership with Binance this is awesome 👌
👍 we will talk about this today 😉 one of our next questions about this 😇
Gold Rocket | Satoshi Club: this is definitely win-win position!
D. | Satoshi Club: [ 👍 Sticker ]
thank you for the answer! ready for the next question?
Hisham Khan: Yes please
Q2 from Telegram user @alptrader
You have partnerships with Binance and Alameda Research. We all know Binance is centralized exchange. Will they provide their liquidity for your CEX? And when I check for Alameda Research, they say they provide liquidity in all major coins, derivatives, and altcoins. So will they lock any tokens for CCAI token? What is your arrangements with Binance and Alameda Research?
Hisham Khan: Yes, Binance will be our liquidity partner for our centralized exchange. This gives CCAI traders a huge benefit of getting the best liquidity and execution.
Alameda is a strategic investor of CCAI. They have a strong interest in the Solana eco-system and we were one of the first teams who built a DEX on Solana in 2020 when no one really knew much about Solana. Seeing our technology and ability to build products with superior design and user experience Alameda decided to become our partner. They trade many coins in the market and am sure will do the same for CCAI token when it launches.
Gold Rocket | Satoshi Club: Sounds great 👍
D. | Satoshi Club: wow, so you built DEX before Serum? Serum is also the famous DEX on Solana if im not mistaken?
Hisham Khan: Yes correct, Serum is an order matching engine built on Solana and we incorporate that into our DEX.
D. | Satoshi Club: nice!
since you working with CEXes, do users of your platform need to pass KYC?
Hisham Khan: Yes we will have KYC in place
D. | Satoshi Club: gotcha!
thank you for answers! ready for the next question?
Hisham Khan: Sure
Q3 from Telegram user @cryptofollower
Recently Tether was announced they will also use Solana blockchain for their stable coin. I see that you implemented Solana and created your dex based on it and also have solana dex wallet. So are all the parities at CCAI dex on the Solana network? Why did you choose Solana for CCAI?
Hisham Khan: We got into this industry for the promise of decentralization. While working on our CEX we witnessed DeFi summer and decided to identify opportunities where our team could contribute and add the most value to the trading community. While researching we learned about Solana and Project Serum. We decided to try building a DEX as a side project. Once we built our first version of the DEX and I made a trade on it, it was truly mind blowing. It has speed of 400 ms and Solana can process 50,00 tps. This was simply the fastest and cheapest blockchains.
We see the issues of scaling on other blockchains and wanted to bet that Solana was the best chain to build DeFi on and even if it doesn’t replace Ethereum but even captures a fraction of the market share it would still be huge. However we do believe now that Solana will be quite successful more than we thought initially.
In terms of tokens, USDT is native on Solana and there is a bridge now between Ethereum and Solana to wrap tokens and move them across blockchains.
I encourage everyone to just try creating a CCAI Wallet and trade on our DEX to experience this for yourself at https://dex.cryptocurrencies.ai.
Gold Rocket | Satoshi Club: Thank you very much for answer! Can you tell what opportunities are currently available on this DEX?
Hisham Khan: Our DEX offers all the major pairs which users can trade and there is liquidity provided by Alameda and Jumpstreet. Our goal is to make the CCAI DEX as easy to use as a CEX.
There are other features we are working on which will come out soon such as Pools
Gold Rocket | Satoshi Club: these are promising features!
I know that you have CCAI CEX Launch soon.. Would you like to tell us something more about this?
D. | Satoshi Club: yes, share with us info about your upcoming IDO😃
Hisham Khan: Yes we are getting our CEX ready for launch in Q2 this year. It is really exciting because we have gotten some amazing feedback by traders in our closed beta and we want to release it to the public so they can benefit from our Smart trading tools among other unique features.
D. | Satoshi Club: [ 👍 Sticker ]
Gold Rocket | Satoshi Club: Thanks for sharing with us! ready for the next question? 😊
Hisham Khan: Sure
Q4 from Telegram user @sofiaisla
Many exchanges have been hacked, and many of the users have been scammed. Today there are many scams and theft in the world of cryptocurrencies. Could you tell us what security solutions CCAI has to keep the privacy and assets of its users protected? also does CCAI have KYC to prevent money laundering? How does CCAI guarantee us security?
D. | Satoshi Club: oh damn, i already asked about KYC 😄
Hisham Khan: Good question. We are building all of our technology with security in mind. For us as a business this is a single point of failure and so naturally we take it seriously.
We have external custody provider, in this case Binance.
Yes we will certainly have KYC and ensure there is no money laundering or illicit funds being traded on our exchange.
D. | Satoshi Club: you know, it’s our tradition to asking guests about audits in alьost every single AMA in this club, 😁so i must ask you. did your project past any security audits?
Gold Rocket | Satoshi Club: Must have😁
Hisham Khan: We are actually going through one now before we launch CCAI. Also for our DeFi products coming up they will certainly get audited as well.
D. | Satoshi Club: very nice! 💪
Gold Rocket | Satoshi Club: Great answers👍
Hisham Khan: Thank you!
Gold Rocket | Satoshi Club: Thank you for your position on safety.
Ready for the next question?😉
Hisham Khan: Yes!
Q5 from Telegram user @NataliyaKil
Please tell us about the FuturesWars competition and the referral program. Who can participate and under what conditions? Are FuturesWars a team competition or are traders head-to-head competition? Are these programs of a permanent nature or are there certain deadlines for their implementation?
Hisham Khan: Sure 🙂
Futureswars was a fun idea we had where traders can compete against one another, deposit some funds and win the funds as a prize at the end. Once we launch our CEX we will be launching Futureswars for sure. It is a good way to test your trading skills against others.
We are reworking our referral program and will have something ready at the time of CEX launch. It is not finalized yet.
We played a lot of Futureswars internally with the team.
Gold Rocket | Satoshi Club: to be honest, this is a very original idea 😁
Hisham Khan: Yeah we have some degen team members who came up with it
Gold Rocket | Satoshi Club: Thanks a lot for the answers 🙂
Ready for last question of this part?
Hisham Khan: Sure
Q6 from Telegram user @neverencryp
You implemented hedge option for traders which give them the opportunity to open both long and short at the same time, how do you plan to control risk on your side that it doesn’t affect the market rate or your market cap for each trade.
Hisham Khan: That hedge option was kind of unique when it first came out and Binance introduced it, since then it has become more common. It just allows a trader to go long and short and this allows them to manage their risk depending on position size and leverage they have taken. It depends purely on how each trader will use it.
D. | Satoshi Club: interesting…i wouldn’t call myself an experienced trader, but i bet experienced traders will like it 😊
Gold Rocket | Satoshi Club: Thank you very much for your answers, and now we want to invite you to the most exciting part of our AMA – live questions 🚀🚀🚀
Hisham Khan: Looking forward to it!
Gold Rocket | Satoshi Club: Get ready for a real storm😁
D. | Satoshi Club: @hishamkhan1 thank you for the all info and answers in part 1! we will open chat for 2 minutes, after chat will be closed – you can start select questions from Satoshi Сlub members!
Hisham Khan: Sure
Part 2 — live questions from the Telegram community
Q1 from telegram username @azrayeni
There will be 125x futures trading on your centralized exchange but what about on your DEX? Are there any futures trading?
Hisham Khan: This is something we plan to work on in the future.
Q2 from telegram username @Boylut
Is cryptocurrencies.AI platform meant for professionals or Amateurs or both?
Hisham Khan: Correct, we offer advanced trading but it is built to be easy so a trader of any level can use it and take advantage of it. There will be recorded tutorials and demo’s to highlight all the features and settings.
Q3 from telegram username @atillayeni
You had a great job at Bloomberg. Why did you quit the job at Bloomberg and start your defi journey?
Hisham Khan: Interesting question, never got this asked before 🙂
In 2016 and early 2017 I had an idea of what blockchain was from reading a few articles but one day I decided to go home and spend some time to research it. After a few hours of research I was a believer immediately. I remember I went out for a walk that night and my mind was just racing with so many ideas and ways this technology can benefit the world.
After that I continued research and trading crypto, and seeing the amount of energy there was in the space I just had to be a part of it. So after completing an important project I was working on at Bloomberg I decided to quit and join crypto full time in 2018. Working at Bloomberg was great but I would not change what I am doing now with any job or other industry.
Q4 from telegram username @Crypt0_l0ver
Do you have any news yet regarding the CCAI IDO as there is no specific news on this topic on your website
Hisham Khan: Yes there will be an IDO and more news will come out in a matter of few days now so just follow our social media channels to keep up to date
Telegram: https://t.me/CCAI_Official
Twitter: https://twitter.com/CCAI_Official
My personal twitter: https://twitter.com/Hisham_CCAI
Youtube: https://www.youtube.com/channel/UCyUM72zWism4-LdA2J4bwew
Q5 from telegram username @cryptofollower
CCAI includes the most powerful trading tools I’ve ever seen. It allow us to set three different set of combinations; entry point, stop loss and take a profit and each one has its own settings even it allows us to set for timeout for instant price drop ups. But these price drops sometimes caused by low liquidity and low volume. How can you solve the liquidity problem? Also will it be possible to mix dex and cex volumes together for higher liquidity when cex is live?
Hisham Khan: This is something new exchanges suffer from due to lack of liquidity. For this reason we have partnered with Binance to be our liquidity provider so traders on CCAI will be able to tap into the most liquid exchange in the world.
Q6 from telegram username @JoxesXIII
can you specify your DEX model? is it made up of an order book or an AMM?
Hisham Khan: Our DEX is an order book DEX
Q7 from telegram username @Karoceh
Solana is not as popular as Ethereum or BSC yet, how will CCAI DEX spread awareness about this project to gain more users? do you have any strategies to attract more traders?
Hisham Khan: It is true, Solana is not as popular yet but it has been getting lots of attention recently and many amazing projects are launching to grow the eco-system. With projects like CCAI and some others which are launching we will ensure Solana has a strong vibrant community. There is no reason it shouldn’t since Solana offers the fastest and one of the cheapest blockchain in the world.
Q8 from telegram username @highpee
You described your project as a next generation exchange offering CeFi and DeFi within one platform. What are some of the Defi attributes of your project because most of the functions I have read about are mostly CeFi in nature. How is the CeFi and Defi functions blended together in the same platform?
Hisham Khan: We have already launched our DeFi products with our Wallet and DEX which are live already and many new features to get launched like Pools in the near future.
Our goal is to offer traders CeFi and DeFi in one eco-system and platform so anyone can trade on our CEX futures and then easily move funds to the CCAI Wallet and trade on the DEX or become and LP to a pool and yield farm, all without leaving CCAI which no other exchanges offer.
Q9 from telegram username @csgonub
Your projects is based on Sol coin. Do you have plans to adopt to Ethereum or BSC?
Hisham Khan: Good question, we do have plans to build on other blockchains eventually and truly become interoperable but it will take some time to get there.
Q10 from telegram username @Giniwhite
🍎I think the Smart Trading on the CEX is a very Nice feature on your platform. But Since the yield farming and NFT are the main topic in DeFi. Is there a plan to implement these trends into cryptocurrencies ai platform?
Hisham Khan: Yield farming yes, we don’t have any active plans for NFTs yet as we have so much to build but that can change in the future.
Part 3 – Quiz Results
As usual, for the third part, Satoshi Club Team asked the chat 4 questions about the crypto project. A link to a Quiz form was sent into the chat.
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