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 Zenlink and our guest were @Lu1_Fromxxx @GUOHUILEO. The AMA took place on 16th March
The AMA session was divided into 3 parts with a total crypto reward pool of 800 ZLK.
In this AMA Recap we will try to summarise the most interesting points for you.
Part 1 — introduction and questions from the Telegram&Bitcointalk community
Mary | Satoshi Club: Hello Satoshi Club! We are happy to announce our AMA session with Zenlink! Welcome to Satoshi Club😀
D. | Satoshi Club: our today’s guests – @Lu1_Fromxxx @GUOHUILEO ! welcome to Satohis Club guys! 👋
Leo Guo: hello
Mary | Satoshi Club: Hello, Leo! Welcome here 😀
D. | Satoshi Club: hello! how are you doing? 😊
Yi Lu: hello all
Leo Guo: Great here
D. | Satoshi Club: awesome! good to have you here guys! 😊 let’s begin our AMA! 🚀
Leo Guo: Somebody knows Zenlink?
Mary | Satoshi Club: To be honest – yes😂
Leo Guo: Thanks
Mary | Satoshi Club: But i am talking about me and @Cool_as_Ice
Leo Guo: Let’s start
Mary | Satoshi Club: So, please, introduce yourself and Zenlink to our community 😀
D. | Satoshi Club: after this AMA lots of new people will know about Zenlink! 💪
Leo Guo: Well.
Zenlink is a cross-chain DEX protocol based on Polkadot that helps all parachains to achieve global liquidity sharing and cross-chain transactions, allowing users to securely exchange any assets between different parachains.
Zenlink DEX is composed of two core parts: the first is Zenlink DEX Module, which can be deployed on parachains in a plug-and-play way to realize “one-click DEX”, and the second is XCMP-based cross-chain DEX protocol, which can connect the liquidity of all parachains and realize cross-chain trading function at the same time, and users don’t need to care which parallel chain they are doing DEX trading on.
For developers or parachains, they can quickly implement DEX functions by integrating Zenlink DEX Module without repeated development; secondly, other DEXs can be aggregated to Zenlink DEX network by calling the interface and sharing liquidity.
Mary | Satoshi Club: Great structure 👍
Leo Guo: For users, they can enjoy a transaction network with low miner fees, low latency and low slippage, and users of different parachains can complete cross-chain transactions without any perception.
Mary | Satoshi Club: In which stage is Zenlink development now?
D. | Satoshi Club: 👍👍👍
Leo Guo: In the cross-chain DEX protocol part, we will first complete the asset or message transfer between our DEX Modules based on the official HRMP and XCMP protocols, but of course there are still a lot of customization required for the DEX-specific protocol layer, such as the routing method of the liquidity pool, the naming of assets of different parachains, the unification of asset standards, etc.
We have already delivered two Web3 Grants, and the third Grants application for cross-chain transactions has been approved. We are testing the integration of Zenlink DEX Module and cross-chain transactions on Rococo V1 test network. A few days before Chinese New Year, we and Bifrost successfully implemented cross-chain asset transfers and transactions in the local test network environment of RococoV1.
Mary | Satoshi Club: Great achievements! Thank you, Leo!
What can you tell us about your team?😀 How big is it?
Leo Guo: I can give you some stats about Zenlink project
D. | Satoshi Club:yes, please!
Leo Guo:
overview stats
Mary | Satoshi Club: Got it! Thanks!
Leo Guo: Me and other co-founder working on imToken before
worked more than 3 years in imToken
Mary | Satoshi Club: Nice background😀
Leo Guo: imToken is the biggest Ethereum wallet in the world
Thanks
And that’s the main intro about Zenlink
Mary | Satoshi Club: Yes, we know and Zenlink should be happy to have such experienced members 👍
Also, i want to tell that you have great partners!😉
D. | Satoshi Club: and great investors 😊
Leo Guo: 😄
Mary | Satoshi Club: You have everything for success 🔥
Leo Guo: Yeah, we are very serious about our partner
D. | Satoshi Club: super! thank you for the amazing intro! if you are ready we can start with the community questions and open first part of our AMA? 😉
Leo Guo: Let’s move!
D. | Satoshi Club: 🚀🚀🚀
Q1 from Telegram User @ysasoma
You mention that you are committed to building a new generation of cross-chain DEX network. By integrating the Zenlink DEX module, can you tell us what are the advantages that this system offers?
Leo Guo: Good question! And I make the intro above, I think.
Mary | Satoshi Club: Will you have your own Zenlink swap?
Leo Guo: We will build a DEX DApp for users also. But the dex protocol is the more important
Mary | Satoshi Club: Do you already have developers which are ready to use your protocol?
Leo Guo: others can build swap according to our protocol
Yeah.
D. | Satoshi Club: oh this is nice! 👍
Leo Guo: The other parachain, like Bifrost, phala, Plasm
Doing the test in Rococo V1
Mary | Satoshi Club: When do you plan to go fully live?
Leo Guo: Kusama parachain slot auction
Mary | Satoshi Club: Got it! Thank you for your answers! Ready to proceed?
Q2 from Telegram user @Karoceh
I didn’t find any information regarding ZLK tokenomic. When is the ZLK tokenomic expected to be released? and can you share what utilities will ZLK have and how to use them in the Zenlink ecosystem?
Leo Guo: Tokenomic will be announced soon, expected in late March or early April. The tokenomic will incentivize other parachains to integrate Zenlink DEX Module.
Utility-wise, our DEX Module is inherently beneficial to parachain developers as well as users, with the incentive to use it, and we will let other parachains join us through close technical cooperation, as they focus on their own business.
D. | Satoshi Club: awesome! by the way will it be possible to integrate Zenlink DEX Module in other blockchains like Ethereum or Cosmos?
Leo Guo: ZLK token is the native token of Zenlink DEX network. Hold the token means you can get the network rights and interests, like trading fees discounts, staking rewards, governance, network benefits, parachain rewards, etc
Mary | Satoshi Club: Thanks! And our next question is this question continuation 😀 ready?
Leo Guo: Great. We are focusing on the Cross-chain DEX protocol. Polkadot at first. Then to other blockchain
come on
D. | Satoshi Club: cool 👍
thank you for answers!
Q3 from Telegram user @lzamg
I read that there aren’t any plans of ZLK token sales. Can you tell us why did you make that decision? And if you don’t mind me asking, from where do you get the funds necessary to continue developing the Zenlink platform if you’re not doing token sales? Does Zenlink have investors?
D. | Satoshi Club: we already know that Zenlink has investors 😉😊
Leo Guo: Yes. Many projects will choose to use public sales as a way to raise funds as well as token distribution, but we are not considering it for now.
We think public sales is more of a token community distribution role, but we want to use a more pure approach to community distribution, such as users participating in the construction of our products to get ZLK token, rather than taking a public fundraising approach to ordinary users.
And then become our holders or builders
D. | Satoshi Club: great approach 👌
Leo Guo:Financing we will be geared towards more professional investment institutions, such as the round of financing we have already closed, are the top investment institutions in the industry. They will not only give the project financial help, but also more professional guidance.
For more information: https://medium.com/zenlinkpro/polkadot-cross-chain-dex-zenlink-secured-1-1-936293d4c03a
Thanks
Mary | Satoshi Club: Yes, as for me you choose a fair way😀 so, if we will contribute in some ways to Zenlink we can also expect that we can get ZLK?
Leo Guo: There are several ways to get ZLK:
1. Participate in the giveaway events launched by Zenlink and its partners. Zenlink has already launched several giveaway events till now, and the winners will receive ZLK rewards after the mainnet of Zenlink is launched.
2. Lock DOT/KSM to support Zenlink’s partners to participate in PLO. Zenlink plans to allocate some ZLK to support our partners to bid for PLO and airdrop ZLK to users who support our partners. More details for this will be published before the launch of PLO.
3. Participate in ZLK liquidity mining. Zenlink plans to initiate its liquidity mining after the product launch, and users can get ZLK rewards by providing liquidity to Zenlink DEX network.
4. Join Zenlink DAO governance organization at a later stage. Zenlink plans to establish a DAO organization to participate in the project governance deeply. Members of the DAO organization can initiate proposals to Zenlink’s development plan and also participate in ZLK liquidity mining at an early stage.
5. Buy ZLK in the secondary market when it gets listed on exchanges.
Mary | Satoshi Club: Thank you! It’s clear now! Satoshiclubbers 😉 you see🔥
Leo, do you want to add something or we can go to the next question?
D. | Satoshi Club: and AMA winners will also get ZLK as well 😉😁
Leo Guo: hahah, yeah
D. | Satoshi Club: ready for the next question? 😇
Leo Guo: alright
Q4 from Telegram user @hon_aim
Cake and cream among others were allegedly had a DNS attack today, this is not a new thing…..How does Zenlink talk security issues to asure users that they are save from any kind of attack?
Leo Guo: Good question. We are focusing on it
Because I am working on imToken, and extremely serious about product security.
from our perspective, firstly, we will follow some good security practices, such as using strong passwords and password saving tools and other measures to ensure that all our own service accounts will not be maliciously stolen.
Mary | Satoshi Club: Yes, really yesterday a lot of people were scared…
Leo Guo: Second, the third-party services we involve, including DNS services, cloud services, etc., are sourced from top-tier international providers. Some of their services are able to deal with similar DNS attacks, such as dynamic DNS resolution, firewall filtering, etc.
Third, we also cooperate with external security service providers to do penetration testing attacks regularly in order to identify improvement points.
For users, in one word, never disclose private keys and helper words to anyone and any project.
Mary | Satoshi Club: Will these measures completely eliminate the possibility of an attack or reduce its likelihood?
Leo Guo: Because this question just about DNS attack
D. | Satoshi Club: yep, many people in crypto still forgetting about these important things
Mary | Satoshi Club: Or they are new and simply don’t know
Leo Guo: Control your private key and keep it safe
Mary | Satoshi Club: Thanks Leo! Do you want to add something or we can jump to the next question?
Leo Guo: next question
we can talk about in part2
D. | Satoshi Club: let’s gooooo!🚀
Q5 from Telegram user @Wormz28
As a cross-chain DEX protocol based on Polkadot, what important role will Zenlink play in capturing the liquidity of Polkadot ecosystem and what good progress in product and cooperation you’ve made now so far? Also can you explain more what is Rococo V1 and what is PLO and how important is the launching of PLO in your Ecosystem?
Leo Guo: Zenlink is positioned as the hub of the liquidity pool of the Polkadot ecosystem, creating a cross-chain DEX protocol. So we are not a parachain project, different parachains can share liquidity and complete cross-chain transactions by accessing the Zenlink DEX module with one click. This is the biggest difference between Zenlink and other specific Swap products.
As the achievement
Rococo is the official Polkadot (Parity) test network launched specifically for parachain slot auctions, the latest version is V1, which is often referred to as RococoV1. You can view the test parachains that are currently connected to rococoV1: https://polkadot.js.org/apps/?rpc=wss%3A%2F%2Frococo-rpc.polkadot.io#/parachains
Zenlink has also registered a parachain to test our product. We will not be auctioning parachains when PLO goes live.
PLO means parachain slot auction, where users or investors pledge DOT or KSM to help their backed parachains to get slots.
D. | Satoshi Club: nice! thank you for clarification 😊
Mary | Satoshi Club: For me everything is clear 😀
D. | Satoshi Club: yep. good explanation 👍
i think we ready for the last question from part 1?
Leo Guo: nice
let’s go
Q6 from Telegram user @yellowchamp
As Zenlink received a 2nd Web3 Foundation Grant to develop DEX smart contract implementation,can you explain more about this grant? What innovation and development we can expect upon accepting this grant in your platform? Thank you
Leo Guo: Web3 Grants is a fund set up by the web3 Foundation to fund the development of the Polkadot ecosystem. All Polkadot eco-projects are free to apply, officially reviewed, and receive grants for delivering code or products. we have received a total of three grants so far, for example, our second grant is for delivering a substrate based smart contract (!ink) and it is already open source.
Mary | Satoshi Club: So, you have funds from Web3 Foundation and also from investors, right?😀
Leo Guo: Grants generally for open source immediately. But most of our code not open source
Mary | Satoshi Club: Gotcha 👍
Leo Guo: That’s the key point. Please follow Zenlink
D. | Satoshi Club: https://t.me/ZenlinkPro_EN
Mary | Satoshi Club: Sure! We will definitely check your updates 🎉
D. | Satoshi Club: we will follow your project 😉
Mary | Satoshi Club: Ready for the live part, Leo?🚀
D. | Satoshi Club: @Lu1_Fromxxx @GUOHUILEO big thank you for 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!
Leo Guo: Give community and ecosystem more surprise
Mary | Satoshi Club: Sure!
Leo Guo: let’s do it
Mary | Satoshi Club: Let’s go 🚀
Part 2 — live questions from the Telegram community
Q1 from Telegram user @JuanSB07
They mention that Zenlink-based cross-chain DEX network is based solely on Polkadot, why not trust another chain like Ethereum? What are the differences and benefits that the Polkadot network offers compared to other chains?
Leo Guo: Actually we are making some connection with other blockchain communities. Like OpenOcean(BSC),compound gateway chain (Ethereum)
Q2 from Telegram user @KhaleesiTheCryptoLady
Is Zenlink and Chainlink related with each other? Please tell us what is your difference with them?
Leo Guo: Chainlink is an Oracle blockchain project. Zenlink is a cross-chain DEX protocol based on polkadot. But we are a good relationship
Q3 from Telegram user @WormZ28
So many successful Strategic Partnerships you’ve made so far for the past months, Congratulations for that. So do you believe Strategic Partnership is the KEY for a Cryptocurrency Projects to grow? Will ZENLINK seek for more Partners? Also for you, what are the TOP THREE benefits these Strategic Partnerships will bring to ZENLINK?
Leo Guo: Why we choose them as Strategic Partnerships is our product have a good connection with them. As for growth, your product is the key
Q4 from Telegram user @Nickkiii
Hello Leo, I was looking for some information on Zenlink on CoinMarketCap, I realized you are not listed there, is ZLK already trading in exchanges?
Yi Lu: ZLK is not online, it is expected to be online during the Kusama slot auction, we will also be listed on CoinMarketCap, CionGecko and other platforms in the future, so stay tuned!
Q5 from Telegram user @smelekin
Have you made the smart contract audit and which company did you made the codes the audited?
Leo Guo: As for the code audit. Because kusama parachain slot auction not live, so our product not live also. Then the audit not yet. But before online, the code must be audit. Thanks
Q6 from Telegram user @Izamg
Zenlink is very interesting, but there are other Polkadot based DEX, so can you tell us what is what makes you the best platform? What are the differences between your products and other platforms’ products? @Lu1_Fromxxx @GUOHUILEO
Leo Guo: First of all, Zenlink is not a new project, our team has been building it since the middle of last year, and the recent trend of multchain is expected.
The advantage of Zenlink is that it is a cross-chain DEX based on Polkadot, which is a leading blockchain network in the cross-chain space, and we will have a natural advantage to build the Zenlink DEX network on top of them. In addition, our goal in the first phase is to solve the liquidity problem among Polkadot parachains. After the auction of Polkadot slots starts, there will be many parachains officially connected to the relaychain and a large number of multi-chain assets, then Zenlink’s advantages will be highlighted at that time.
Q7 from Telegram user @mctrho
Two of the most important features of Zenlink are the “Zenlink Dex Module” and the “Zenlink Dex Network”. Can you explain a little what these two features of the project are about? What do they bring to users and what are their advantages?
Yi Lu: Zenlink DEX Module is a simple, highly versatile, pluggable DEX module built by Zenlink. By integrating this DEX module into each parachain, Zenlink enables “one-click DEX”, which allows parachains to quickly have DEX functionality, such as Swap, create pairs, etc., and share liquidity with other parallel chains.
The Zenlink DEX Protocol will create an underlying cross-chain DEX protocol, similar to the traditional TCP/IP protocol with a proprietary application layer, which will allow each parallel chain to share the liquidity of all the parachains on the Polkadot that have access to the protocol.
Q8 from Telegram user @Luisz2210
Zen + Link, what does it mean?
Leo Guo: Zen is a school of Mahayana Buddhism that originated in China during the Tang dynasty, known as the Chan School (Chánzong 禪宗), and later developed into various schools. Link means link with others DEX
Q9 from Telegram user @atillayeni
How many people are on your team and what are the jobs they do for the Zenlink?
Leo Guo: Our team has 12 members. 7 of them is developers, 1 for UI/UX, 1 for team manager, 2 for operation,1 for product
Q10 from Telegram user @Derazy
Browsing the Zenlink group telegram, I got the information that Zenlink will provide a strong incentive for community members who help build the Zenlink DEX network. Can you explain exactly how the community will be involved in building Zenlink? Are you going to release any program about this?
Yi Lu: We’ve always been big on community building, which is why we came to Satoshi Club for our AMA. the main ways the community is currently involved including:
1. Participate in official community activities
2. Participating in Zenlink DAO
3. Participating in product construction (providing liquidity, participating in trading, etc.)
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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