BoredCroc & Mr.Limp from Cronex & RektApes dropped by to talk to Kahoobb about the exciting stuff they have been working on and to take some questions from the community. To celebrate the AMA, Cronex allowed participants to submit questions beforehand via a Google Doc and rewarded chosen questions with 20 $Cronex each!
Kahoobb: Welcome everyone to our AMA with Cronex! I will be your host today. Just a few quick things before we get started. We are trying something new for this AMA. There are two segments. The interview and the question segment. You are muted for both segments. When we get to the question segment, Cronex will answer questions submitted BEFORE the AMA. This is to prevent bots from winning. 6 questions will be answered, 5 winners will be selected and those chosen winners will win 20 Cronex each paid by Cronex in their telegram. Please be patient for payment. Thank you.
Please introduce yourselves @boredcroc & @mister_limp! What are your roles in cronex? Tell me a little about yourselves.
BoredCroc: I’m BoredCroc, been in crypto for like 2 years. Started playing degen since a year
Was in bsc, eth
Then moved to FTM
But by the time I prepared something to launch on FTM, the chain itself started dying and it never really took off
It was called Fantom Chat and it was not a token, but a social media built around Fantom.
It was then that I hopped into CRO, invested, got rugged, invested again and so on
I’m programmer irl so solidity was easy for me to pick up and I started pointing out scams and rugs in here and other communities that I’m a mod in
Those were getting shared around and since we were being shilled constantly, I got busy pretty quick and to avoid these groups getting distracted, I created Cronalyst. Basically a group of degens picking apart contracts.
That evolved into what you see today!
Mr.Limp: I’m Mr. Limp, I handle graphic design and social media management for CRONEX. Started getting into crypto early last year, and even started my own NFT collection before working with Croc. Used to go hard in Fantom as well, but I didn’t see any opportunity there anymore, so I went to Cronos. Happy I made the right choice!
Kahoobb: Thanks for those great introductions! Are you ready to get started into the questions? 😁
Mr.Limp: Let’s do it
What makes Cronex unique compared to competitor dexes on cronos chain? How will people and projects be enticed to use cronex?
BoredCroc: The only uniqueness in CRONEX is the community and team behind it. The swap is an exact fork of uniswap and it doesnt take a genius to figure that out.
What we try to do differently is to give a damn about what tokens do that launch on our swap and actually take steps to prevent rugs. Enforcing certain restrictions etc. We are integrating certain scanners I built myself into that as well.
Most dexes dont care that they facilitate scammers to launch tokens. We care.
Soon the community will demand devs to launch on Cronex to ensure their safety!
Mr.Limp: What makes Cronex unique is the fixed lock times, and the ‘community reporting’ aspect. Unlike other dex’s who care not if scammers time rug or honeypot on their site since it brings them money, we plan to actually take action.
Projects that have been reported and checked (we will attempt contact with the devs first and foremost), we BURN their LP, which means no money for the scammers.
Other swaps will be forced to adapt with us, or fall behind and die. We will be a trend setter for future dex’s to come.
Kahoobb: Wow! That is amazing, I have never heard of a dex that goes that far to protect its users.
So I know that there was a private sale as I personally invested into it. Can you let everyone know the details of the private sale that happened, aswell as the tokenomics of CRONEX?
BoredCroc: We only raised what was needed to fund development. The investors took a huge leap of faith when we said we will launch in a weeks time. I personally hate being put on wait after investing into a project for a utility that never comes! I was adamant that I wanted to launch the token on our own dex and that has worked well! People who used our dex knows how easy it is!
To the numbers: We raised 14k USDC from private sale. This was used to fund the development.
There were 33 private sale investors. There was no vesting and they paid forth the trust I placed in them and are still holding strong!
I can proudly say that even after hitting a 20x on their investment. None of them dumped their tokens!
The tokenomics are:
1% auto lp tax
2% marketing tax
250 CRONEX max tx
2000 CRONEX max wallet
Kahoobb: Great tokenomics, I think this is the first legit cronos project I have seen with such a low max amount of tokens! I personally prefer low supply tokens so that is pretty cool.
BoredCroc: Yea nobody likes taxes! We only placed what the project needed. Low taxes also make this an easy swing token. We need the token to be traded in volumes. That’s the motive.
Kahoobb: Yes for sure! The low taxes is really nice.
I know that you guys have a project called RektApes that is connected to CRONEX, Can you tell us a bit about RektApes and the connection between cronex and Rektapes, aswell as where someone could mint or buy one?
BoredCroc: RektApes is @mister_limp ‘s contribution to CRONEX! I needed a way to raise funds for the LP but also wanted to avoid another presale to prevent dumps at launch.
So we launched the RektApes NFT collection. The holders get 25% of the dex swap fees. This is a HUGE passive income for holders since most swaps on chains literally have 6 digit figures coming in as fees and it all goes to the project itself or into further development.
So giving a chunk of that to the community wont affect any major milestones of the project. This also makes it a community need for the project to succeed as well.
We minted 1000 apes starting at 100CRO with increments of 20CRO every 200 mints.
These apes are now trading on ebisus bay for 900CRO a pop floor!
https://rektapes.herokuapp.com/ for rankings and rarity!
I wanted to make sure nfts had actual value to them and that buying these apes meant something apart from owning a jpeg
Kahoobb: Wow! Sounds like a great opportunity for investors. I personally prefer buying NFTs with utility and that sounds like amazing utility. I am not surprised they are sold out from minting. That is big floor jump from mint price!
What are cronex’s goals for the future of the DEX, NFTs and Cronex token? As I currently do not see a roadmap listed anywhere.
BoredCroc: CRONEX’s future is wide open! We plan on forking and bringing successful utilities & protocols from other chains into CRO. Its pretty simple. We’re only adding our little touches here and there.
We do not have a roadmap. I’d rather build something and show what we have than promise stuff that happen in Q2 2024. And I’m pretty sure most roadmaps never get fulfilled.
The road map for CRONEX is to identify protocols and bring them over. We will keep doing it an thats what we’re already doing.
We have already identified the next platform and are working towards it.
All these platforms will be under the same CRONEX token. Managing more than 1 token is hell and I’m avoiding it. CRONEX will be integrated into these and paywalls will be placed that require CRONEX holding to access
Kahoobb: I agree completely! As the saying goes, actions speak louder than words.
What utility is given for holding CRONEX token? Is CRONEX currently audited or have any future plans to get audited for the sake of investor safety?
BoredCroc: As of now: Nothing!
But its early access now. We are integrating Charting and other tools into the dex and they will require CRONEX to access. Apart from that, future platforms will have fees that needs to paid using CRONEX.
CRONEX contract was audited by Coinsult. But due to a bug, we abandoned that contract. So the current contract is not audited.
The current contract is an exact fork of Crogecoin. We just reduced the taxes. That contract is audited and we fixed the risks they mentioned in their audit about no restrictions for fees. Fees for Crogecoin can be set to 100% by the dev turning it into a honeypot.
We fixed this issue and add limits to the fees. Each fee can be set a max of 2% only. So there is no way to misuse the function or have scary fees.
You can track the commits in the contracts above to see the changes we made and how we improved upon the original contract.
And yes we will be reaudited soon.
Kahoobb: Awesome, Thank you for all those answers! Can you please share all your projects social medias for people to find you?
Mr.Limp: Of course!
Main Site: cronex.finance
And of course our app, the star of the show-
Kahoobb: You can also vote 5 stars on cronex in our project directory!
Let’s move onto the question segment of our AMA. Cronex will answer some submitted questions for us! Any winners will be contacted by the team in their telegram as we already have your telegram names. Please be patient.
Community Question #1:
First Question: you claimed to be ”INVESTOR-FOCUSED” AMM DEX. So , What makes you claimed this? Do you find other existing AMM-DEX as not as ”INVESTOR-FOCUSED” as yours?
BoredCroc: As mentioned above, I feel that way. Other swaps do not give a look at whats launching on their swaps. They are focused on Farms, TVL and stuff.
They are aiding and abetting these scammers to launch and not placing simple checks and restrictions that can to some extend deter them or atleast slow them.
Our scanners are already live in here and other tg groups and unlike token info scanners, our scanners read the contract, display what functions they have and even vets the dev wallet and shows their previous tokens.
These will brought into the dex as well. Our primary goal is a safe, secure and smooth swapping experience
Community Question #2:
Second Question: MMF has been really struggling, what would you say to MMF holders to secure their trust in Cronex?
BoredCroc: MMF’s struggles are a combination of bad market times and bad decisions.
We are watching everyone and learning from their mistakes. Its not a matter of trust tbh, its just a better experience.
The largest swap on CRO should not be cartoony. The lack of a professional appearance is concerning to me. When I first came over to CRO. I couldnt take the swap seriously. Then I saw their numbers. Its a personal opinion.
Community Question #3:
Third Question: Any plans for cross’s chain compatibility?
BoredCroc: CRO first. When we’re #1 here, we can think about other chains.
Community Question #4:
Fourth Question: Will we see a CRONEX mobile wallet in the future?
BoredCroc: Not a wallet but I do feel a lack of native mobile app-based Swap. I do want to bring CRONEX to mobile, not as a mobile view website, but as a native app running. A wallet would be built into that as well.
Its something in the back of my head, not a priority at the moment
Community Question #5:
Fifth Question: How do the RektApes Nft’s work as far as profit sharing is concerned?
BoredCroc: The dex has a 0.3% fee on all swaps. Its standard as uniswap.
That fee is split into 2:
– 0.15% to LP provider.
– 0.15% to CRONEX
Out of that, the second split to CRONEX is again split into:
– 25% to NFT holders
– 75% to Marketing
The 25% will be raised to an even 50% once we are out of this growth phase.
Community Question #6:
Sixth Question: What is Cronex scanner tool? Will it be available on the swap?
BoredCroc: This is the scanner bot. It prints out details that you should look for when DYOR. These details will soon be added to the swap and will pop up when a contract is pasted. I wrote it myself and I’m proud of it
Kahoobb: Thank you everyone for being here and thank you @boredcroc & @mister_limp for sharing about Cronex and RektApes. This concludes our AMA. Prize winners will be dm’d to get their wallet addresses collected to be paid out by the cronex team.
Chat will be unmuted now!