Rivex pre-listing AMA

Eric (host of t.me/amaroom): Welcome @AlexNg89 @LiamvZ @ATisler from Rivex

Liam : Hey guys! I am Liam, head of global community for RiveX

Aljaž Tišler” Hey guys, I am Aljaž Tišler, CMO at RiveX

Eric: Ok. so we had an AMA with you guys last year. Can you guys intro Rivex to the group again to refresh and tell us what has been accomplished in 2020.

Mark Tan: Hey! Nice to be here

Alex Ng | Rivex: RiveX is a chain agnostic interoperable and scalable layer-2 solution across different blockchain protocols. RiveX aims to empower the next generation of decentralized applications, decentralized finance and enterprise solutions. RiveX has a comprehensive interoperable DeFi solutions as well as a rich developer toolkits to allow ease of integrations into RiveX protocol.

Liam: RiveX has been really hard at work since we last held an AMA here. Just yesterday we officially released RX Wallet, one of the core products of RiveX. WRDEX mainnet softlaunch is also just around the corner!

Eric: can you share some screenshots of the wallet here?

Alex Ng | Rivex: basically this year alone, we restructure our direction and also we have finally launch RX Wallet yesterday, a framework to house dapps for ease of interaction. Beside that we also release a sneakpeak to WRDEX and will soon enable it for mainnet trading

Liam: Check out our RX Wallet release here: https://medium.com/@RiveXOfficial/introducing-the-first-official-major-release-from-rivex-the-super-dapp-wallet-rx-wallet-2c8b40ca2f39

Liam 利亚姆

Eric: Can you tell us what is the function of RVX token in RiveX ecosystem?

Liam: 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.

Liam: We have 2 of them right now which is RX Wallet which we released. 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.

Eric: As we know, you guys are listing soon without IEO or token sale. Can you explain why you don’t have those events before listing? And to protect users, investors, how are you gonna manage the price for RVX?

Liam: Price speculation is something we can’t promise as it is way beyond our control. As we all know, IEO or some fancy public sales always lead to a huge selling pressure. In fact IEO is such an obvious marketing gimmick. You spend more than what you raise eventually, so we believe that these funds should rather be used for something which will have an organic price discovery like market making etc.

Eric: Smart move. long term is always good if ur actually building a business

Eric: Many public blockchains are based on PoW and PoS algorithms. The main network of RiveX is also based on the PoS consensus mechanism. Why does the underlying technology of RiveX choose the PoS algorithm? Please also talk about the advantages and disadvantages of PoW and PoS algorithms?

Liam: Basically RiveX is based on the PoS consensus mechanism as we rely on the root blockchain that we are building on. RiveX is chain agnostics and we are not building a new blockchain. We are here to scale public blockchains for the growth of the main protocol. In my opinion, basically both PoW and PoS each have their own pros and cons. Let’s talk about PoW first, the cost and basically the need of hardware causes this mechanism to be very not environmentally friendly as the amount of energy needed to mine one token i.e. Bitcoin is too high. However also with this, the algorithm makes it hard for a 51% attack as one needs to command a lot of hash power to achieve that. On the other hand, PoS is based on the concept of staking a certain amount of token to obtain more of the token. Theoretically it may not sound convincing from a security standpoint especially as a decentralized element however the introduction of token weightage and how long the token has been staked can be adjusted to design a need for how a protocol and project works. One example that came out is the concept of voting through the governance process.

AMA Room community questions starts…

Kate: The market hasn’t been so much stable, what have prompted you to unlock Rivex token this month? #rivex https://twitter.com/mirandauntruth/status/1257631979421474823

Alex Ng | Rivex: we can’t really time the market for a start and if we are diverging into perspective, market will somehow stabilise which will benefit us as well as we are on constant building no matter the situation with the market

Tomas Shelby: Did corona pandemic impact the progress of Rivex? If yes, how severe was it? https://twitter.com/26door72_cl/status/1257634321336328192?s=21

Aljaž Tišler: COVID-19 impacted the RiveX in positive ways. As we need to #stayhome team was focusing on finishing the products and brainstormed how they will be upgraded in the future. Thats why we have released RX Wallet before listing.

А: The RXWallet was released but mobile is yet to release, when do we expect mobile wallet to be released and has any component of WRDex changed or have you added any new features to it?

**https://twitter.com/aleksa_19_0/status/1257626308550500353?s=21**

Alex Ng | Rivex: mobile version will soon release. WRDEX has improve from UI/UX perspective however functionality wise it still serve as a trading engine, we will gradually add in more features and component into it as we move along

Liam : The Mobile wallet will feature a mobile UI for WRDEX, making it easier to trade on the go. We don’t have an exact ETA but stay tuned for that announcement! We will release a guide along side it as well

Стефано🗿, [05.05.20 20:09] https://twitter.com/Dudung1998/status/1257644158212173825?s=19

There are many different Blockchains in Crypto, each one having different features like ETH for the smart contract, some have privacy features but what features does RiveX have and why do you think people will use it and it can be super hit in future?

Aljaž Tišler: Rivex is not a chain. RVX token is based on Wanchain.

Alex Ng | Rivex: we are basically not building a new blockchain, we are simply scalling public blockchain thus we adopt the technology and capability that a public chain has. We just incorporate our hybrid approach to enable us to achieve the vision we are progressing towards

PHAM TAN, [05.05.20 20:09] https://twitter.com/nillerfect310/status/1257594319701069825 RiveX offers great finance solutions for Enterprises and application developers, but not all of them accept blockchain solutions. So what will RiveX be to convince them and make blockchain mainstream?

Alex Ng | Rivex: We are taking the approach of showcasing our ability under the DeFi segment first and then gradually bridge in traditional businesses to leverage on our solution. As to the comment on not all will accept blockchain solution, I am viewing that from a different approach, in terms of not all process or business segment will need to integrate blockchain that is the reason why we are taking a hybrid approach here

Cryptonaut: Since the last ama, i have followed rivex annoucement channel closely and I have seen that the team has been hard working all the time, What gives you confidence that people will use WRDEX and RXWALLET on daily basis switching from Trust Wallet & Binance DEX? #rivex https://twitter.com/crypton44555540/status/1257627662245400576?s=21

Liam: Glad you have been keeping up to date! The team has been working around the clock to ensure our products are delivered on time as promised. We are confident that we will get users as we have build our products with the user in mind. Both RX Wallet and WRDEX offer a very user friendly experience, with a simple UI. We will also release guides on all aspects of our products to ensure users understand how to use our products.

Kath: What are the main features of the RX Wallet?https://twitter.com/KathDM3/status/1257644593300082690?s=20

Liam: We recently released an extensive overview of RX Wallet, take a look at this article: https://medium.com/@RiveXOfficial/introducing-the-first-official-major-release-from-rivex-the-super-dapp-wallet-rx-wallet-2c8b40ca2f39

Quan Bao: https://twitter.com/tantan00016/status/1257647003204415488 Staking seem to be popular right now on many blockchain project to encourage investors to hold tokens and make it healthful for project ecosystem. Does RiveX support this as well? If yes, how does RiveX attract users? And how does reward base on?

Aljaž Tišler: RiveX will soon release a new feature called League of Stakes. At the moment we can’t give otu details about parameters or how staking will work. Stay tunned for announcement here: https://t.me/RiveXANN

Legea: As of today, many more projects have been developing same similar things as Rivex but in different blockchains. Did the team of rivex get a change of mind from switching from Wanchain blockchain? Why did you choose Wanchain as blockchain parent for WRDEX? https://twitter.com/prCote88_Irvin/status/1257630864835567616

Alex Ng | Rivex: we have recently renew our direction by being chain agnostics thus we are looking to also build solution that will cater to other chain as well. We decided to build on Wanchain due to this reason as well due to the former can be easily achieve using Wanchain decentralize cross-chain capability.

Alejandro Urich: • When I read Rivex, the word River comes to mind. How did Rivex’s name come about? What does it mean? https://twitter.com/Ale_Urich/status/1257623590452764673?s=20

Alex Ng | Rivex: there is no specific meaning, we just find the definition of rive with a X cool as we want to produce fresh and innovative solution so it goes with the rive definition well 😊

**Mikael:

rivex Rivex held a contest of 100,000 USD to reward the community for quiz, quest and content creation. How smooth did this contest go? What plans do you have for the community for the future something similar to the Contest you held earlier?https://twitter.com/voyez_vous_dr/status/1257618232439197696**

Alex Ng | Rivex: i think this activity went well, we even have community came out to us on some discrepancy that occur while activity i ongoing. From our perspective, we can see RiveX channel is very engage and community really enjoy them albeit some cracking of head needed to resolve some question

Soka: What are some features that rivex has on its decentralized exchange as such binance idex etc do not have them on their decentralized exchanges?https://twitter.com/FRAUD__mind/status/1257637062892818432?s=20

Alex Ng | Rivex: WRDEX is base on wanchain ecosystem thus with wanchain cross with the like of ETH already, we provide another avenue for the userbase on that chain to leverage on product or features that we will be building and releasing on wanchain ecosystem. The connectivity goes both way as well.

Holly: I have checked the wallet of Rivex and its interference is good. When will hardware wallet support be available at the wallet? Why do you call RX wallet a super dapp? https://twitter.com/avance_holly/status/1257631647660421120

Liam: Glad you like it. Once the mobile versions of RX wallet are released (iOS and Android) we will release an updated version of the desktop wallet with support for hardware wallets. While I don’t have an exact ETA, it will be within the next couple of months.

We strongly believe that asset interoperability and adoption can be fully achieved via a user friendly and seamless app with multiple DAPPs from different ecosystems all in one wallet all accessible via one app — the RX Wallet!

Lee: Trust and Security are the most important things in cryptocurrency. The recently released Defi dForce protocol has been hacked for 25 million dollars. Do you have any tips to avoid these situations in the future?https://twitter.com/TrinhDucLuong9/status/1257649558072340480

Liam: The RiveX team is constantly keeping track of any hacks in this space, taking steps to improve our own products and ensure we fix any potential exploits

Alex Ng | Rivex: we will be releasing more information on this soon, however the initial phase will only be open up to partners which can bring value to the ecosystem as we want to release governance node first and in future when we start tapping into enterprise solution only will validator node be roll out

Eric: Ok great questions everyone! @AlexNg89 and team please invite our good folks to stay tuned to your channels.

Liam: Thank you for all your interesting questions today!

Be sure to join our official chat here: https://t.me/RiveXOfficial

Our ANN here: https://t.me/RiveXANN

And follow us on twitter here: https://twitter.com/rivexfoundation

Alex Ng | Rivex, [05.05.20 20:32] sure do, thank you @ERCSU for hosting us and thank you everyone for the question and interest

do follow us as we have more exciting announcement to be make soon