Rivex AMA Recap

Rivex AMA Recap

CryptoDiffer team

Hello, everyone!

We are glad to meet here 

Mark Tan, Co-Founder at Rivex

Alex Ng, CEO at Rivex

Aljaz Tisler, CMO at Rivex

Liam V., Global Community Manager at Rivex

Mark Tan Co-Founder at Rivex

Hey guys. Please to meet y’all!

Alex Ng CEO at Rivex

Hello Everyone, Alex here from RiveX

Nice to meet everyone again

Aljaž Tišler CMO at Rivex

Hey guys, thanks for introduction Nick!

Liam V. Global Community Manager

Glad to be here today!
Thanks for the intro

CryptoDiffer team

Let`s move to the first introduction question:

1. Can you tell us what is the function of RVX token in RiveX ecosystem? What are some ways users can make a profit by joining your network? And what are the things that will reduce the inflation of RVX tokens?

 

Aljaž Tišler CMO at Rivex

As RiveX’s main focus now is on the DeFi segment, the utility of RVX Token includes: 

– Governance Node staking

– Decentralized cross-chain liquidity pool

– Token Launchpad on RiveX protocol

– as a trading pair in WRDEX and other DEX

– RVX backed structured products to be listed on WRDEX and other DEX from other blockchain protocols

One can obtain additional RVX Token via the upcoming release of the decentralized cross-chain liquidity pool and launch of structured products backed by RVX Token. If you are an individual or entity that can bring value to RiveX ecosystem, we also welcome you to be one of our partners in the Governance Node release as you will be staking a big portion of RVX Token and receiving daily distribution bonus RVX Tokens. We do not have a plan yet on reducing the inflation of RVX Tokens however ideas revolve around WRDEX operation or features might assist us in coming out with a burning mechanism in the future.

 

CryptoDiffer team

2. What are the most worth-noticing products RiveX are building and how do they fit into the DeFi’s ecosystem?

 

Aljaž Tišler CMO at Rivex

We have 2 of them right now which is RX Wallet which we released a couple hours ago prior to this AMA. RX Wallet is a framework that will house future dapps to ease the interaction of users asset eliminating the need for users to interact with multiple platforms while performing certain activity related to the current DeFi space. Another one is WRDEX which as of now enables the trading of assets in the Wanchain ecosystem which includes representation ETH, BTC and EOS assets utilizing Wanchain cross-chain technology. This will be the first step in showcasing our ability to be a dex operator and with RiveX being chain agnostic, we will be able to run similar dexs on other chains and scale our future decentralized liquidity pool allowing more users to benefit from earning while pledging liquidity.

 

CryptoDiffer team

3. What is your opinion about sharding, layer 2 and cross-chain solutions? What are the core technologies that RiveX has been built on and how potential are they to get you achieve your mission?

Aljaž Tišler CMO at Rivex

Basically the introduction of this technology accelerates the adoption of blockchain technology as it provides the ability to scale better. If we talk about sharding, it enables higher throughput as transactions are able to process much faster. This also lead to the creation of the term layer-2, and to date, there is probably many projects that adopted this technology to scale public blockchains into multiple different aspects especially on enterprise adoption perspective. Layer-2 plus cross-chain enables the bridging of different dapps that can assist with certain enterprise businesses reducing resources needed in tackling certain business process. This is what we at RiveX are positioning ourselves to do, thus we want to gain maturity first by first performing in the blockchain ecosystem especially showcasing our ability in the DeFi space.

CryptoDiffer team

4. Most companies have competitors. As you can see, who are your biggest competitors right now? What do you think about your own projects compared to those? What weaknesses in your project need to be solved?

Aljaž Tišler CMO at Rivex

RiveX doesn’t really like to call or label others as competitors. We will likely want to adopt the term partnership as we are always more than happy to integrate or work together with projects or solutions that are better or sensible in that field. There isn’t one project that can gain the entire market share so I believe leveraging on each other may be a better approach as I believe every platform or solution is created to assist people to perform their work or tasks faster and in a simpler manner.

CryptoDiffer team

5.  If you can describe RiveX in 3 adjectives? What will you say and why?

Aljaž Tišler CMO at Rivex

Innovative – as we tend to want to come out with solutions that adopt the centralized idea but preserve the decentralized factors in them.

Comparative – as we are based off solutions and platforms we see in the market and learn from their mistakes while releasing an improved solution.

Fresh – as we want our solution to be simple but impactful.

CryptoDiffer team

Ok, thanks for such detailed and interesting answers!

Let’s move to the Telegram community questions part.

Cryptodiffer Community

How many coins has #RiveX issued and is that enough for the team’s short-term plan?

Aljaž Tišler CMO at Rivex

We have recently released our Tokenomics article: https://medium.com/@RiveXOfficial/rivex-tokenomics-explained-6a49b8562b4

Here you can find everything abour RVX token and how many will the team release.

Cryptodiffer Community

DeFi nowadays seems to be a very hot keyword that many popular platforms like Ethereum, Vechain are focusing on.

How does Rivex think about DeFi in your strategy and how well has Rivex prepared for this big wave?

Alex Ng CEO at Rivex

We are also focusing all our resources under this segment as well. We plan to showcase our ability here first and in turn bridge traditional business to start adopting blockchain technology. We have just let community has a brief preview of WRDEX and we will be launching it soon which means enable trading. This will showcase our ability to be dex’s operator.

Cryptodiffer Community

In order to make blockchain industry expand and grow, we need to have users that will be able to use apps with ease.

What are some of the unique features of Rivex that would help attract more users to it platform?

Liam V. Global Community Manager

Here at RiveX, we understand that there is a significant barrier of entry into the crypto space. We aim to make all of our products as user friendly as possible. We have a great team of devs who are excellent at building a good UI/UX experience, ensuring users are able to easily understand our products. We will also have in-depth guides on all of our products to make adoption as easy as possible.

Cryptodiffer Community

There will be many hacker attacks  how can Rivex handle it and provide security to user data?

Alex Ng CEO at Rivex

As of now, our solution and product revolve around being non-custodial and we do not have any centralize login module for each of them. We develop our product in a way that private keys, seed phrase and even assets are not own by us but these info are store locally on end user device. As to future release of features that may utilize smart contract, we are learning from all the hack and exploit and will ensure there is improvement and thorough audit are perform.

Liam V. Global Community Manager

Over the past years there have indeed been many hacks. The RiveX team always keeps up to date on how these hacks happen and how we can improve our own solutions, making them more secure and preventing known vulnerabilities

Cryptodiffer Community

What role does the community play in the #RiveX?  What have you done and will do to attract people to join #RiveX and build a thriving community?

Liam V. Global Community Manager

As you may have seen, we recently held a community quest, quiz, and a content creation competition. We truly value our community as a project without a strong community ends up being just an idea. Who will use your products if you don’t build a strong community? 

We also plan to do more upcoming community initiatives throughout the year, and aim to expand our community in different regions. We always value community feedback on all our products

Cryptodiffer Community

Most of investor just focus on the price of token in short term instead of real value of project. Can you (as #RiveX Team) tell us the motivation and benefits for investors to  long term?

Aljaž Tišler CMO at Rivex

We are basing everything on our own deliveries. You can check the structure of tokenomics and you can see that there are things already planned ahead. Everything we are releasing now is just first version that is already being worked on to make it better and add new features.

Cryptodiffer Community

What is the Greatest Achievement of Rivex where all of your Team Proud off?

Liam V. Global Community Manager

In my view, definitely WRDEX. I am a true believer in decentralized finance, and WRDEX ticks all the right boxes. Decentralized? Yes. Cross-chain? Yes. Good UI/UX? Yes. WRDEX has come a long way and will truly show the power of cross-chain technology

Cryptodiffer Community

•I am very new, can you tell me what are the differences between the Basic Wallet and a Shared Wallet?

Easy, but necessary question:

•RX Wallet will have and Android & iOS version? Can tell us a date?

Alex Ng CEO at Rivex

Basic wallet is the current format of wallet that you can see from the just release RX Wallet version couple of hours back. As for shared wallet, we have remove this as the previous module is build using a cloud wallet and we decided to go with a non-custodial format thus we are modifying this to fit multisig component like gnosis in a non-custodial version as well.

For mobile RX Wallet, we are still perfecting the dapps interaction thus it will probably take awhile more before we announce the release of this.

Cryptodiffer Community

You organized an AMA session very rewarding and received a lot of questions related to utilities and technology, future vision, …So now I want to ask what do you want to receive from the community?

Liam V. Global Community Manager

We do these AMAs with various communities to spread the word of RiveX, share our products, and collect ideas and feedback from you guys. We don’t ask anything from these communities, just that you follow our project and stay informed

CryptoDiffer team

Ok, we are going to start second round of the AMA!!!

Cryptodiffer Community

Does RIVEX have plans to create a stripped down version of the app that will be able to be used by those in developing countries with less advanced handsets?’

Liam V. Global Community Manager

RX Wallet and WRDEX will be available on mobile devices (iOS and android) in the near future, so users will be able to trade on WRDEX and store their assets on the mobile wallet. A wide range of devices will be supported, so hopefully these users will still be able to access our products and trade their assets in a truly decentralized manner!

Cryptodiffer Community

In the trade off between security, decentralisation and functionality where does REVIX place the greatest weight?

Alex Ng CEO at Rivex

Security and functionality is both garnering the same weightage in our development objectives. As for decentralize element, we always implement it in a way that things that should be transparent will need to preserve the it. As of now, this 3 factor pretty much have the same weight in our design as we are still very much focus in the DeFi space.

Cryptodiffer Community

Community growth is highly essential for project growth and development. 

What’s Rivex Current and Future  community growth strategies?

Aljaž Tišler CMO at Rivex

Some future strategies cannot be disclosed. For the current ones we have been mostly targeting SEA region in which we have established a Vietnamese TG group that is showing great signs and growth. There may or may not be any WRDEX listing activities. In start of this year we held a massive RiveX Quest campaign in which we gave away more than 50000 $ worth of RVX tokens. Stay tuned for more community related activities.

Cryptodiffer Community

Why you chose Wanchain over other blockchains? What are the benefits?

Liam V. Global Community Manager

Benefits of building on wanchain include a very high TPS (roughly 1000 transactions per second) as well as an already existing cross-chain infrastructure. This enables WRDEX to have various pairings with wrapped assets, in other words users can trade bitcoin, ethereum and various other assets on WRDEX using these wrapped WRC-20 tokens. We believe the wanchain blockchain is an excellent choice.

Cryptodiffer Community

Why you chose Wanchain over other blockchains? What are the benefits?

Alex Ng CEO at Rivex

We choose Wanchain due to the tagline decentralize finance ecosystem that has been practice by Wanchain and also the capability of cross-chain and privacy features. To date, Wanchain has already integrated cross-chain with few of the biggest blockchain ecosystem namely BTC, ETH and EOS in a decentralize manner. This enables us to be able to cross communicate with the chain that has the largest dapps pool which is the Ethereum ecosystem.

Cryptodiffer Community

Some apps can be heavy, that could generate crashing problems. What precautions would you take to avoid this type of error in the wallet?

Alex Ng CEO at Rivex

We have yet to encounter this but each time after development, we will be optimizing the code and perform a stress test to ensure ours apps is capable to support mid to maybe low end tier device. We will soon be housing numerous dapps and we hope by utilizing the webview format, it will enable less resources while the wallet is interacting with them.

Cryptodiffer Community

What is your strategy to fund the marketing campaign for RiveX that will be needed to gain visibility and build a user cummunity base?

Alex Ng CEO at Rivex

We have plan to be utilizing the allocation under DeFi initiative for this however will not do it in a way by dumping the token on secondary market. We want solution or platform that is build which produce a need for RVX Token or other relevent native token spin out by these dapps as we do not want the release to be pair with speculative element but more to utility perspective

Cryptodiffer Community

As we know, DApp often has 2 big problems: scalability and low effiency/inactive status. How will rivex prevent and resolve this problem which may happen/become burden to your platform?

Alex Ng CEO at Rivex

Second your comment here thus we are taking a different approach here which is to tackle the DeFi space first and route the utility of our major product to be use to bridge traditional business namely in the loyalty points and supply chain segment.

Cryptodiffer Community

How the project is named as RIVEX.? Any specific reason.?

Liam V. Global Community Manager

This is just a name we came up with, we all agreed on it. It doesn’t have any specific meaning

Liam V. Global Community Manager

Thank you guys for all the interesting questions, and thank you for your time! Be sure to head on over to our channel if you have any further questions

Cryptodiffer TEAM

It was a pleasure to conduct an AMA with Rivex !!!🔥

Let’s finish the AMA

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