1) Welcome! For starters, give an introduction of yourself and your teammates, please.
Hello, my name is Frederic Beeg and I’m the CEO of Crosswise. I have a strong background in creating leading platforms in the gaming and e-commerce niche. One of my main interests in the last couple of years has been Crypto and especially DeFi. That’s why I started creating Crosswise 5 months ago with a team of 8 devs.
2) What is Crosswise about?
We are bringing together the best of two worlds: the support and variety of functions you are used to from a centralized exchange and the widespread technical possibilities of a decentralized exchange. We are offering accountability and support on our DAPP which retail investors are missing on other exchanges.
3) Tell us more about your tokenomics and token structure. Dual Coins (XCRSS/ CRSS), tell us about your dual tokens concept and what they do for your ecosystem?
We’re using constant emission of 1 per block (1.2 for the first 14 days) with a dual token system. CRSS is our main token used for rewards, transactions, and fees. In future, it will also be used for governance voting. XCRSS is only used for paying out vested rewards. Overall CRSS and XCRSS together have a max supply of 50 million. Both tokens will be launched at the same time, as XCRSS is basically just CRSS when it is in vested state.
It is also important to note that there was no VC round and no team wallet. We’re only selling 6% of the max supply in the pre-sale.
We have a number of fees that are designed to support CRSS price and avoid the type of runaway inflation that we often see with native DEX tokens. Please have a look at our website at crosswise.finance for further details, as well as links to the Litepaper and other documentation.
CRSS is our main token used for rewards, transactions, and fees. In future, it will also be used for governance voting. XCRSS is only used for paying out vested rewards. Overall CRSS and XCRSS together have a max supply of 50 million. Both tokens will be launched at the same time, as XCRSS is basically just CRSS when it is in vested state.
4) Share with us your marketing plans and activities for the rest of the month too. Love to know more to follow your next steps.
We have a very extensive marketing campaign set up with publishments on major magazines, Ad spaces on websites such as Dextools, Apeboard and Moonarch and collaborations with influencers, YouTubers and special platforms. Also, we are building up our local communities and marketing in China, Thailand, Indonesia, Spain, France, Germany and many other markets. We will also feature a content marketing strategy by introducing NEwbies to DeFi.
5) Can you walk us through what are your various revenue streams?
We have different fees on our Swap exchange with 0.2% for the simple swap, 0.3% fee on the advanced swap and an additional 0.1% fee on cross-chain swaps. Also, we have different fees for auto-compound, build in vesting and fees for our LaunchPad/LaunchHub area.
6) Fees for Swap Exchange- Transaction Fees for users are 0.2%. 0.17% of the fees go back to the user adding LP pairs & 0.03% to the treasury? How were you able to accomplish such low fees?
We have the same fees as other DEXs such as Pancakeswap. There is no way to accomplish it, it’s just set in our MasterChef smart contract. We have the right set-up combined with Gasless fees and many optimized routing mechanisms to accomplish the price.
7) How does your product and technology roadmap looks like? What should we expect from the tech side of things?
Please take a look on our website under the roadmap section. We have a very extensive roadmap for the next year and we look to constantly extend our ecosystem to new blockchains with the highest activity of trade volume.
8) Asians are big into referral programs. Can you tell us about Crosswise Referral/ Ambassador Program?
We will have a special Ambassador program with a lot of perks. Details regarding the Ambassador program will get published within the next week. Our referral program will enable users to earn 1% of the lifetime earnings of any user they bring. This refers to farming and staking rewards.
9) Care to share what are your listing plans like?
We will first launch on our own DEX around Christmas, then extend to more market-leading DEXs after that and then be looking into listings on CEXs.
10) Thank you for taking the time with us today, can you pick one feature of your ecoSystem something we might not know that you feel is important or the best! Also, leave us with a quote that we can remember this by?
Our gasless feature enables you to trade without any gas fees by signing with the wallet signature. This is a feature that will save users huge amounts of trading fees.
We are bringing together the best of two worlds: the support and variety of functions you are used to from a centralized exchange and the widespread technical possibilities of a decentralized exchange.
