DerpDEX Pre-listing AMA Recap- WHY $DERP🧐

GM, Derps! ☀️

As our $DERP listing comes nearer , we have more and more new community members joining! To provide an in-depth overview and vision on DerpDEX, we have been participating in different AMAs to bring DerpDEX to a broader audience. If you missed those, don't worry. You can read the article where we summarise the FAQs for you to DYOR! 🥳

Let’s dive in! 👇

Q: For the new derps around, let’s start with What is DerpDEX?

A: DerpDEX vision is to become the leading centralized liquidity DEX, with an integrated DeFi ecosystem on L2 networks such as zkSync, Base, and opBNB, providing excellent performance for traders, liquidity providers, and new projects Released to provide integrated DeFi infrastructure tools. Meme- DEX Ecosystem.

Main highlights of the project:

💥 A meme-centric token for the web3 community

💥 UniV3 centralized liquidity market making algorithm AMM on L2 chain

💥 $DERP token economics with deflation and token buyback and destruction functions

💥 Experienced DeFi team, degens, traders and builders from ex-JPM, ex-SCB, ex-Spartan VC and more

💥 Powered by DWF Labs and security audited by MetaTrust Labs

Q: What’s the reason for being a “meme” focused type of DEX in the first place? What opportunities do you see in the market, and how does DerpDEX stand out?

A: DerpDEX focuses on the meme narrative, builds the competitive DEX with innovation  and ecosystem around meme communities launching and trading such as 1-click-to-launch-meme, meme bots, launchpad etc.

Here are the key insights that we discover in our experience in building and trading meme tokens:

1.There is a gap in the market especially on L2, where it is mostly a VC game and it's just a volume game without the actual benefits for users to trade, make some $ and enjoy a better environment to trade new tokens.

For example, our competitors on zkSync, the top 3 largest DEXs, TVL, and trading volume are mostly focused on ETH and stablecoins. How will this incentivize actual users to trade and purchase new tokens? Only trade stablecoins? No profit to be made!

2. In our opinion, Layer 2 is going to be the catalyst for the bull run where they will get the most TVL, growth, and trading volume. This is similar to the previous bull run, where you can see all the liquidity, trading volume, and activities rotated at BSAC, Polygon, Solana, Avalanche, and Terra. We believe L2 would be the place where the next growth is next year.

3.MEMEs will also be there regardless of whether it is a bull or bear market. In the previous bull market, there was SHIBA, FLOKI, and DOGE. In the current bear market, there is “PEPE”, “BITCOIN” and “MEME” launched 10 days ago. Memes are part of web3 and are here to stay.

We believe that DerpDEX fits right into that narrative and has a GREAT opportunity to fill in the gaps!

Also, IF you visit DerpDEX, you can see we put in effort to create our personality. Make it fun. Make it easy to use. Create our own identity.NOT just copy and paste from another DEX.

We believe having such an identity gives us advantage in terms of user experience and stickiness. UX 1st!

Q: Can you give an insight into the marketing you have planned to grow awareness and adoption?

A: We concluded that the Memetic revolution is taking over the global blockchain landscape and decided to take this route when we started DerpDEX.We have our own identity and vision for DerpDEX and it falls through all the branding that we have been building for our project/ product.

A lot of users LOVE our meme-able UI. Feel free to check it out yourself and we would love to hear from you! Since we started the project in June this year, our community has grown organically. Here are some of the marketing approaches:

  1. We allocated in total 48% token supply for airdrop to discord alpha users, testnet users, initial LPers, L2 ecosystem users etc.

  2. Multiple web3 marketing campaigns on Galxe (we are a level 4 partner!), Zealy, and more.

  3. We have established partnerships with more than 50 projects/ protocols .

  4. We also have more than 30+ KOLs globally working with us to build awareness and hype for the project worldwide.

After the token launch, we have a lot more in our plan to continue building more awareness for DerpDEX. Name a few: -Loyalty program-Ref-to-earn program -Expanding to more L2 chains

Q: What kind of effort did DerpDEX have in building a great product for users?

A: DerpDEX is built with our heart (not just copy paste from Uniswap). IF you visit DerpDEX website and explore all the products, the branding, the design, the UI, the UX. You will know that we put in a lot of effort to make it more interesting and better for user experience.

But to explain it:

  1. We have built DerpDEX to be as seamless as possible for trading and also earn. For example, we have launched a tool "zap-to-earn". Zap-to-earn enables users just to choose 1 token; ie USDT, USDC or ETH/BNB, to zap into LP easily and stake it to earn LP fees and farming benefits.

  2. We also add some funny elements to the swap, adding liquidity, removing liquidity and more. These are memes and are funny for degen. We will continue to make our UI and UX better over time.

  3. We also choose L2 for a reason. L1 such as Ethereum and BSC is still expensive for regular users. Did you know that on opBNB, a swap is 90% cheaper than Pancakeswap on BSC? It's less than 0.001 for a swap on DerpDEX opBNB.

  4. And in our roadmap, we intend to build a mobile app for DerpDEX to make it easy for degen to trade meme-coins, get into meme-launchpad IDO etc.

  5. In our future roadmap, when DerpDEX launches its own rollup L2, opDERP, we can also use DERP tokens to pay for gas fees, thus, removing the need for users to have BNB or ETH to pay for gas fees. Dapps built on opDERP can use DERP to pay for gas behalf of user with "Account abstraction erc-4337"

  6. BUT most importantly, DERP needs to have sufficient trading volume, liquidity and BIG market cap like MEME token now. >$1b market cap. This will attract confidence, and trust for builders and traders to build on opDERP chain in the future.

Q: How does the Derp DAO contribute to the decentralization and governance of DerpDEX?

A: We allocated 20% DERP tokens to be controlled by the DAO. This is similar to voting and bribing, except the DAO will use a snapshot for voting for emission for farmings etc.

Thus, creating use cases for xDERP stakers. Now, they can vote for % emission from the DAO for their favorite LP! We also allocated 40% from the trading fees to be used for:

  • Token buyback for the DAO (using market maker)

  • Protocol earning sharing from the trading fees collected.

So, we hope we can share some benefits from the value accrued from the DEX and DerpDEX ecosystem for our xDERP stakers.

Q: Can you talk about potential sell pressure and how you have geared your tokenomics to reduce this in the short and long term?

A: There are multiple methods and strategies that we planned to encourage the use of DERP as a utility token within DERP ecosystem (in the future)

To start with:

  1. In the short term, we planned to create some proven use cases for the $DERP token within DerpDEX platform/dapp.

    - Staking to enjoy a whitelist for upcoming new meme token launch (or any other high growth project). - Multiplier for staking and farming just like what CAKE users enjoy at Pancakeswap. Or simply yield booster. - $DERP can also be used for pairing with other meme-tokens thus, creating use-cases for $DERP token within DerpDEX. Just like BNB is used for most pairs on Pancakeswap.

  2. In the long term (during the next bull run), we intend to launch our own opDERP L2 roll-up as well. This is similar to BASE on the Optimism chain.

    - Then DERP token can be used to pay as fees thus, creating utility for the $DERP token. - These xDERP token stakers will also enjoy validator node incentives and more. Just like any validator node on chain.

There are also additional benefits:

  • DerpDEX intends to create some special premium privileges such as a VIP group for meme-bot (similar to Unibot BUT for memes sniping, arbitraging, etc).

  • And DERP can also be staked for xDERP to enjoy protocol earnings fee sharing. This info is available in our documentation on our website.

Q: With the IDO activity over, what kind of progress will be waiting for you in the future?

A: The $DERP token will also be officially launched next week!

We have finalized two centralized exchanges (one of which is among the top 10 exchanges in CMC, you can make a bold guess!). Because we can't make an official announcement yet, we can only reveal this. Our tokens will also be listed for trading on decentralized exchanges including DerpDEX. Please follow our social media announcements!

Let's review some of the milestones we've achieved since we started the project:

🔥 The mainnet will be launched in mid-July. TVL > $1.5M. Daily trading volume is approximately $200,000 to $500,000.

🔥 November $DERP launch is around the corner (next week!!!)

🔥During the testnet period, there were 25,000 testnet users within two weeks

🔥 Active international community Twitter = 80k, Discord = 70k

$DERP IDO is just another major milestone for DerpDEX. There are a lot of exciting things on our future roadmap that we will continue to build after the token launch!

Last words from Chief Derp Officer:

We hope the answers and AMA above gives everyone a better clarity, transparency and confidence that DerpDEX has a chance to succeed in the next bull market. I want to end this AMA with 4 points:

  1. Market timing = start of the bull market!

  2. Market narrative = MEME token launched on Binance 2 weeks ago. >$2.3B in FDV with 0 token utility. DERP token is launching next week with a $10m FDV.

  3. Token utility. Plenty of use-cases with token within DerpDEX ecosystem and own L2 roll up in the future. Deflationary too!

  4. Token listing next week on 2 top 15 CEX

We believe that DerpDEX and $DERP have a chance to succeed and want to share this information to the community and AMA. LFG!

About DerpDEX

DerpDEX combines the best of web3: the perfect blend of “DeFi + memes + NFTs”  powering the meme movement on L2 zkSync, Base and opBNB network. By restoring the old glory of derps as internet sensations designed to entertain degens worldwide, we are making derps great again.

Trade, earn, stake, and launch crypto with the most  ̶a̶u̶t̶i̶s̶t̶i̶c̶ best DEX on the internet. Make derp great again!

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