AMA with ChartEx
ChartEx Website: https://chartex.pro/
ChartEx Telegram: https://t.me/ChartExCommunity
Venus Queen: Hello everyone, today we have @blockminded from ChartEx team with us for AMA session. Welcome @blockminded to our group.
Blockminded — ChartEx: Hey everyone, thanks for the invite!
彡₩ØⱠVɆⱤł₦Ɇ彡: @blockminded thanks for joining us looking forward to learn more about this amazing project
Venus Queen: Could you please tell us little bit about ChartEx and what is it trying to achieve?
Blockminded — ChartEx: Sure thing, so ChartEx is a charting platform that originally was for me and a small group and friends to be able to chart exchanges that mainstream providers like TradingView and Coinigy didn’t support — we had Binance charts for example 6 months before they landed on TradingView. It was all pretty low key for a while until Uniswap started heating up and so I built highly experimental support for Uniswap markets into it. Everything was well until a mutual acquaintance — CryptoMessiah found out about it, starting sharing videos, tweets, screenshots etc. with his following and the site essentially melted down overnight.
Blockminded — ChartEx: Something like 20000 users visited in the space of a few hours and I was wholly unprepared for that level of traffic or interest, but so many people were saying how this was game changing and really encouraged me to figure out how to scale this and keep building
Blockminded — ChartEx: Long story short, we explored subscription models but realised we could not scale fast enough reliant on this type of revenue stream, and after lots of deliberation (does this need a token, what value will it provide, does the economics stack up? etc) the CHART token was born
Blockminded — ChartEx: At the peak of the first real Defi cycle in late September we were serving 400,000 charts a day
Venus Queen: [In reply to Blockminded — ChartEx] That is great story to tell. Well done, I am sure ChartEx has come long way and future seems bright.
Crypto Runner 007: Thanks for very honest overview..I am sure its overwhelming at first but all I have heard is very good reviews so far ab Chart.
Blockminded — ChartEx: It’s been a journey full of challenge so far, but so rewarding to see people using your product, seeing tweets with screenshots from ChartEx etc.
Blockminded — ChartEx: And it’s really evolving into something that if it wasn’t my own, I’d be using daily
Crypto Runner 007: Can you share about some the cool features you currently have and whats the plan in near future?
Blockminded — ChartEx: We introduced support for Binance Smart Chain alongside launching the accounts platform — this was one of the most requested features as people would close their browser and then wave goodbye to everything they’d done thorughout their visit and that began the most significant achievement in our journey so far
Blockminded — ChartEx: We then followed with Telegram bots going into beta testing for account holders a few weeks ago which let users set up their own customised price alerts, whale alerts and even follow along with specific wallets and their trades on Uniswap
彡₩ØⱠVɆⱤł₦Ɇ彡: [In reply to Blockminded — ChartEx] That’s a great feature is that live already and available to all?
Blockminded — ChartEx: All new features are only available for token holders.
彡₩ØⱠVɆⱤł₦Ɇ彡: [In reply to Blockminded — ChartEx] Okay makes sense.
Blockminded — ChartEx: So yes — they’re available via a tiered set of access levels dependent on what features you really need.
Crypto Runner 007: [In reply to Blockminded — ChartEx] Following a wallet is pretty cool feature I must say. Well thought there :)
Blockminded — ChartEx: We always committed to maintaining a core product that would always be free — so basic Uniswap charting will remain this way, but everything else will always be reserved for token holders.
Blockminded — ChartEx: I should add though, we are not an expensive product to use.
Blockminded — ChartEx: We were very deliberate in designing our pricing to ensure ChartEx could be accessible to a wide audience, not a concentrated group of whales.
Crypto Runner 007: Talking about price, can you talk a bit about the tiered pricing structure and which one is the value pack?
Blockminded — ChartEx: Basic access simply requires holding 2000 CHART, which stay, in your wallet, so you are free to do as you please with these if you don’t wish to use it anymore
Blockminded — ChartEx: Basic access lets you save and load charts and access Binance Smart Chain markets
The next tier above this requires holding 3000 CHART and lets you curate a watchlist and set up price alerts via Telegram
4000 CHART introduces Whale Alerts and Wallet Watching (which will also have a small subscription when it’s out of beta testing)
5000 CHART gives you advanced access which will introduce Technical Indicator screening via Telegram bots too (again with a small subscription)
Blockminded — ChartEx: So as you can see, compared to some competing products, this is very much affordable
Blockminded — ChartEx: In the top 20 countries of origin for traffic to ChartEx are a fair few countries where the cost of living and average incomes are quite low, and we want to be able to provide them with something usable too
Crypto Runner 007: Awesome, thanks for explaining in detail.
彡₩ØⱠVɆⱤł₦Ɇ彡: Simple enough model for everyone to use and it has great global reach as well
Venus Queen: Agree on the pricing comparisons. ChartEx has an edge for sure.
Crypto Runner 007: Talking about bots, do you or your product team have anything on mind to curate them and identify them on charts?
Blockminded — ChartEx: In theory they can be recognised from their trade amounts and timestamps, but I guess the real question is whether it’s actually useful information? Front runners operate on every market really, they pick on traders with high slippage settings, not an asset in particular
Blockminded — ChartEx: So we don’t have immediate plans to highlight these, but we could if there was enough demand for it
彡₩ØⱠVɆⱤł₦Ɇ彡: Also What are some of the exciting new features you guys are working on next and when can we expect them to come out?
Crypto Runner 007: Yah, it’s a tough question these days. With Crypto industry booming and picking up, having a bot identification on DEX will really give an edge as a product. Again thats just my opinion :)
彡₩ØⱠVɆⱤł₦Ɇ彡: [In reply to Crypto Runner 007] I agree with @CryptoRunner007 here I think it would provide great advantage to most of the traders.
Blockminded — ChartEx: The most significant thing we have committed to in our current roadmap is the final bot in our suite of telegram bots, the technical indicator screening capabilities — with this, you’d be able to identify markets with volume trending up, which potentially could alert you to accumulation if the price wasn’t really moving, but also to be able to string together complex sets of criteria — for example, show me a list of all markets where EMA25 has crossed above EMA50 and the price is near support
Blockminded — ChartEx: This will be useful on more liquid and higher volume markets, as it was proven very early on that even without charts, DEX markets very much behave like more liquid CEX markets — TA does seem to work
Blockminded — ChartEx: That would in essence conclude everything we set out to do in this version of the roadmap — we were forced into adding things into the roadmap unexpectedly too but we’re still confident we’re on track
Crypto Runner 007: [In reply to Blockminded — ChartEx] I totally agree. This will be very helping tool & you guys are heading in right direction.
Blockminded — ChartEx: We’re also hoping to bring support forat least one more exchange platform in the near future.
Crypto Runner 007: You can talk about some of the upcoming features that we should look out for and timelines?
彡₩ØⱠVɆⱤł₦Ɇ彡: [In reply to Blockminded — ChartEx] How do you guys plan out what features to tackle next?
Blockminded — ChartEx: So we actually rolled out a new feature today:
Blockminded — ChartEx: Which is available for Expert tier users.
Blockminded — ChartEx: This gives some address analytics so you can easily spot high volume/high frequency traders and potentially bots.
Blockminded — ChartEx: (nobody else knows this by the way, you’re seeing this here first)
Blockminded — ChartEx: So this gives you basic information like the number of recent trades, their buy and sell volume and if it’s something you are more interested in, you can then copy/paste their address into Telegram and set up a wallet alert
彡₩ØⱠVɆⱤł₦Ɇ彡: [In reply to Blockminded — ChartEx] Thanks for the sneak peak!
Venus Queen: [In reply to Blockminded — ChartEx] Looks great, how many $CHART tokens do I need to access that?
彡₩ØⱠVɆⱤł₦Ɇ彡: Our members will appreciate it!!!
Crypto Runner 007: Ah, thanks for sharing this feature with us. Looks really awesome.
Blockminded — ChartEx: Expert access is 5000 CHART (and currently planned to have a $20 subscription) — it’s designed for power users who rely on analytical data to inform their decisions.
Venus Queen: Question from @nettuz Do you have any plans to support DAI/USD pairs for Uniswap pairs? Also, do you plan to support SushiSwap in the near future?
Blockminded — ChartEx:Yes and Yes.
Blockminded — ChartEx: You got me there.
Blockminded — ChartEx: When I said we are bringing a new exchange platform online.
Venus Queen: Okay, great. Thank you.
Blockminded — ChartEx: Sushiswap was exactly who we had planned next.
彡₩ØⱠVɆⱤł₦Ɇ彡: Can you tell us more about your team also do you guys handle marketing in house or have partner for that
Blockminded — ChartEx: Because we’re not using any APIs (and therefore have faster and more reliable access to trade data) it’s quite time consuming to build the infrastructure to collect this.
Blockminded — ChartEx: So it will take a while but it will be worth it.
Blockminded — ChartEx: It’s also why we are faster than every other platform we’ve seen so far in terms of getting trade data in
Venus Queen: Question from @satoshinakamoto : Do you plan to provide anti-scam tools within $CHART platform to prevent users from falling for scam coins? Currently, dextools does a fair job preventing these through dexscore, notifying for team contract wallet selloffs etc, but there is still progress to be made.
Blockminded — ChartEx: So I’ll answer the question from Wolverine first.
Blockminded — ChartEx: We’re working with a specialist PR agency in the blockchain space who now take the lead on marketing and PR, before this, it was pretty much just me.
Blockminded — ChartEx: You’ll have seen CHART raising its profile recently, we’ve been featured in a number of publications and I’ve been interviewed for opinion on some relevant topics too.
Blockminded — ChartEx: So on to the next question — we don’t provide anti-scam tools at present. This is a really difficult topic to cover to be honest.
Blockminded — ChartEx: Anti scam tools in my opinion can make users complacent.
Blockminded — ChartEx: Just because they have a 99 trust score does not mean they won’t pull the rug out.
彡₩ØⱠVɆⱤł₦Ɇ彡: [In reply to Blockminded — ChartEx (I will never DM you first)] I have been reading your medium page and in general news cycle you guys are doing pretty good job at marketting thats why it raised the question 🙂
Blockminded — ChartEx: And I’ve also seen of late some examples of teams having already honestly disclosed that they will be selling some tokens into liquidity and then seeing a big red banner warning people of a potential scam on their listing which is quite damaging.
Blockminded — ChartEx: So we don’t want to be the ones responsible for telling people a given asset is safe for example.
Blockminded — ChartEx: Because really it takes a lot of research to establish this.
Blockminded — ChartEx: There are some practical things we will look at — monitoring liquidity for example.
彡₩ØⱠVɆⱤł₦Ɇ彡: That makese sense good explaination there!!
Venus Queen: Great insights. Thanks @blockminded
Venus Queen: Question from Joe : Is #ChartEx only specifically for professional traders? So what effect can an ordinary investor who is not a trading expert using #ChartEx ? Because the display features are so many and difficult to understand.
彡₩ØⱠVɆⱤł₦Ɇ彡: [In reply to Venus Queen] Great question is there a knowledge base or training guide you guys are providing to make it more user friendly?
Blockminded — ChartEx: I would argue that Defi is not for inexperienced traders, it’s the wild west and so the depth of data we provide is to help people inform their decisions better. That being said, one of our next focuses once we have delivered upon the remaining things committed to for the end of the year will be education — this will be in the form of written content, tutorials and we’re also hoping to partner up with some youtubers (who are traders rather than those doing FA) who actively use ChartEx anyway to explain the benefits of some of the features.
Blockminded — ChartEx: We’re hoping this will provide a good general introduction to both Defi and our platform.
Blockminded — ChartEx: Joe is right though, at the moment it’s far more targeted towards professional traders, but we do intend to change that
Venus Queen [In reply to Blockminded — ChartEx] You gotta spend a lot of time reading to understand what #DEFI is, it’s vast and an average trader knows very little.
Blockminded — ChartEx: Agree completely.
Venus Queen: Question from @Badjasman Could you ask him to tell more about the planned Chartex DAO? When will it launch and how will it work?
As in: When will ChartEx DAO launch and can you tell more about it’s function within the ChartEx ecosystem?
Blockminded — ChartEx: The ChartEx DAO is planned to provide a platform for our token holders and users to have more of a say in the future direction of ChartEx and its ecosystem. We will start a consultation early next year with our community to start to understand exactly how ChartEx should evolve, how it can support causes and help bring more users to the platform — ultimately, we will not be designing the DAO ourselves, that would defeat the object of what it sets out to do — it must be a collaborative effort. Once we have a good understanding of how it will shape up, we’ll have a better view of the complexities in delivering it.
Blockminded — ChartEx: We’ve already had our first governance vote which was carried out on-chain via Snapshot.page to vote on how we should use some of the unlocked funds around the first token release, and in general we expect more things like this to give our token holders a say in things important to them
Blockminded — ChartEx: So you could say the earliest components of a DAO are already in place
Blockminded — ChartEx: But this will of course evolve.
Venus Queen: [In reply to Blockminded — ChartEx] Sounds good, makes sense.
Venus Queen: Quick question about LP, I saw a tweet from your official account about a new campaign to earn 150K $Chart rewards. Could you please elaborate?
Blockminded — ChartEx: It’s something we’ve been meaning to do for a while to be honest — liquidity providers are every bit as important to ChartEx as our users (and most are in fact users). Essentially we have introduced a scheme to reward liquidity providers beyond simply the 0.3% of trading fees that are shared already via the Uniswap protocol.
Blockminded — ChartEx: Liquidity providers who commit to providing liquidity over a longer time frame are eligible for a share of 150,000 CHART in rewards which we will process based on those that have applied, and random snapshots over the time period to establish individuals relative liquidity positions within the pool.
Blockminded — ChartEx: We have also, for the record, excluded our own liquidity from this.
Venus Queen: Great going. thank you.
Venus Queen: Do you want to talk about some real world partnerships if any?
Blockminded — ChartEx: There’s not a huge amount I can disclose at this point with regards to things that are upcoming but we’ve had contact from numeous projects in the space about how we could support their own work and enrich it with our data
Blockminded — ChartEx: In terms of people actively using ChartEx at the moment to support their own products though, Predix. Network use ChartEx charts for some of their prediction markets.
Blockminded — ChartEx: LimitSwap embed our charts and use our data API for one of their automated trading strategies.
Blockminded — ChartEx: And most recently I learned today that Social Rocket are consulting with their users about introducing ChartEx charts into their platform.
Venus Queen: [In reply to Blockminded — ChartEx] Yes I saw their tweet. Great going.
彡₩ØⱠVɆⱤł₦Ɇ彡: [In reply to Blockminded — ChartEx] This is all really exciting for all the Chart token holders some great information and bright future ahead!!
Venus Queen: Thank you @blockminded. I will unmute the group so if community members have any questions for you.
Blockminded — ChartEx: Perfect, happy to stick around and answer questions
Blockminded — ChartEx: Thank you for having me.
Blockminded — ChartEx: Great to chat.
Capt_Star1: Do you currently have a bug bounty, shilling contest or ambassadors program?
Blockminded — ChartEx: [In reply to Capt_Star1] Yes, no and no.
Lina: It is unfortunate that some projects remain half way because their developers abandon the concept because they cannot achieve the desired capitalization in the long term; how do you plan to make this project sustainable for its development?
Capt_Star1: Is this project global? If not which regions can make use of your services and which ones are excluded?
Blockminded — ChartEx: [In reply to Capt_Star1] We don’t hold any personal detail of any kind, so we don’t know where users are from, we just see an ethereum address — there’s no trading so there’s no reason to restrict access to our tools.
Blockminded — ChartEx: [In reply to Lina] We are operating under budget and have been for a while, and once the subscription model comes online at the conclusion of all our beta tests, the platform will be entirely self-sustainable.
Blockminded — ChartEx: ChartEx was largely built with no capital as an entirely free product before we even considered a capital raise, so I hope that in itself is worth comething in establishing our long term viability.
Outside The Box: What problems is $chart targeted to solve ?
Blockminded — ChartEx: [In reply to Outside The Box] Access to data, whether that be trading data, charts or analytics — the Defi space lacks in data products compared with centralised exchange counterparts.
Calebkure: Security has always been a top priority in Blockchain projects, what makes users trust safety and security?
Blockminded — ChartEx: [In reply to Calebkure] We hold no user data, so even in the unfortunate event there’s a breach of some kind, our users cannot ever be at risk.
Lina: Too many projects promise magic but never release any working product or prove any revenue, Within a short/long time of release. Is your project also like this? If not can u tell us, What makes your project different from other projects?
Blockminded — ChartEx: [In reply to Lina] We already have a working product — we had one before we even contemplated launching a token.
Calebkure: Are there staking opportunities, If there are is there any hidden charge for staking and unstaking $chart?
Blockminded — ChartEx: [In reply to Calebkure] You can provide liquidity which is a sort of staking, there’s no hidden charges for this, beyond this we are not currently a yield farm or a proof of stake coin.
Sagey: Any data on the speed of ChartEx charts, trade alerts, buy/sell updates and so on compared to competitors such as AstroTools, Uniwhales and DexTools? It seems ChartEx is faster?
Blockminded — ChartEx: [In reply to Sagey] Entirely unscientifically I had a browser window open on ChartEx, Astro and Dextools when testing our live trade stream and we measured a 10 second speed advantage at times.
Lina: Are you afraid some day there will be another project with more innovative technology can replace your project?
Blockminded — ChartEx: [In reply to Lina] This is always a risk — but we are at our core a community-driven project so we are strong believers that if we continue to listen to the needs of our users we will maintain a highly competitive and well-used product.
Lina: What is your opinion about DeFi. What do you think is holding the DeFi space back? What is actually preventing from the mass adoption of DeFi products?
Blockminded — ChartEx: [In reply to Lina] Defi is hugely innovative but very risky at the moment, audited projects get exploited, devs rug pull and things get tested in production, but without this fast pace of evolution, there will be no progress and innovation for the products that come along and get adopted mainstream — we hope we’re the latter.
Blockminded — ChartEx: Defi still has a lot of growing up to do in conclusion.
Blockminded — ChartEx: Thank you so much for having me — if anyone else has questions feel free to stop by at https://t.me/ChartExCommunity — you’ll be very welcome.
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Twitter: https://twitter.com/VenusQueen19
