AMA RECAP : CRYPTO CHALLENGERS x HUBBLE EXCHANGE
Venue : CryptoChallengersD
Date : 03 OCT2022
Time : 03:00 PM UTC.
They shared detailed information and his opinions about the project HUBBLE EXCHANGE
SEGMENT 1 INTRODUCTION.
Hubble Exchange is the first Multi-collateral/Cross-Margin Perpetual Futures protocol on Avalanche.
1.Could you please provide a quick self-introduction for the community?
I’m Daniel from Hubble Exchange! I’m part of the Hubbleverse DAO that manages community, mods artist and events!
I started trading crypto with very small amounts in 2017. But really became more involved in 2020. When I saw Hubble I fell in love with the project: good team, good product (not a fork), new features…
So I was a very active community member. Eventually I started working for Hubble through the Hubbleverse DAO!
2.Can you briefly introduce the project HUBBLE EXCHANGE and how do you think you stand out among the competitors if there are any?
Hubble Exchange is a perpetual futures protocol built on Avalanche. You can use it to: trade, provide liquidity or earn stablecoin yield in the insurance fund!
Our main advantage is flexibility and choice. In Hubble exchange you have the opportunity to choose amongst several collaterals to back your trades. This is thanks to our multi collateral and cross margin functionality!
No other exchange has this on Avalanche and we are one of the very few ones who have this across other chains too
3.Can you share the achievements the team has made so far ? what are the major achievements that HUBBLE EXCHANGE is yet to achieve . If possible also share your roadmap.
The main and most obvious achievement is clearly building a whole new protocol/defi primitive with new functionality like cross margin and multi Collateral from scratch!
Besides this, we have a lot of new exciting features coming up soon: limit orders, more collateral listings, new markets … Eventually we want to build our own app specific chain in an avalanche subnet!
4.Could you share a bit about security and also what benefits you provide to incentives users choosing your platform?
We take security very seriously because we are a new protocol and there are obvious risks. To mitigate them we tested the product extensively through more than three testnets. In addition to that we got audited by dedaub (same auditor as perp protocol) and crowdsourced an audit at code4arena.
Regarding incentives… We don’t have a liquid token yet… But by participating in the platform you can earn vHubble, a locked version of our token that will eventually be transformed into actual tokens in the future. When we launch a token!
5.Please tell us more about the main team behind the success of Hubble Exchange.
The team is anonymous, but it is doxed to relevant third parties (for example, Avalabs knows who most of the team is)
In addition to that I can say that several people from our team used to be working for polygon/matic, as senior engineers and other roles
SEGMENT 2 TWITTER QUESTIONS.
1.Leveraged and futures trading are quite difficult to new users. Do you provide any guidance to help new users get familiar to leveraged trading in general?
Yes! We have our docs section where we explain step by step how to use our platform.
We are also starting a new initiative based on translating technical documents and complex concepts into easy to read/understand comics
So that people can get a good understanding of how Hubble and futures work!
The first edition of this comic will be released this week
2.Is there a specific reason that you choose #AVALANCHE chain perpetuals in your exchange?
Yes. There are several reasons. The more basic ones are speed and affordability: avalanche is fast and cheap
But the main one is subnets. This is important because we want to expand into our own app chain in the future. Avalanche provides good infrastructure for this!
SEGMENT 3 TELEGRAM LIVE.
having an anonymous team is not really transparent for me, if being not transparent it means the safety of our asset is not safe?in order to trust your project we need to know those people behind that project, we can’t just trust our assets to unknown people, how can we assure that our assets will be safe?
[In reply to TheCrypt Lover]
Let’s begin with this one. Feels organic and real.
Being anonymous doesn’t mean it is not safe!! We are anonymous but towards the community, because we don’t want people to harass us or know about our private life. However, both important investors (our top tier VCs) and Avalabs (creators or avalanche) know some of our identities.
In addition to that and as I mentioned our code is audited and open sourced :)
If we required to register an account to use the “Humble exchange “ can we have multiple account?if can’t, will there be a KYC system for “Humble exchange “ ?
[In reply to Claim Reward]
This is a decentralized exchange so unlike Binance or FTX you only need to have metamask installed! You will be able to create as many accounts as you want
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?
[In reply to 🤓🤓Morgan 👈👈👈😀]
Well the main difference here is we actually launched a working product !!
We will only launch a token once we have meaningful adoption. Our focus is product first, token later. We believe this is the key to a solid foundation
Yes! We are now in the middle of a 50k USD trading competition. You can trade on Hubble and get prizes! Including lottery rewards
So I think it’s the perfect time to test: you get rewards for trading and can compete for prizes and lottery money!
And last but not least, thank you very much for having us!