EPICX AMA on Telegram Transcript (May 29, 2021)
nbalze (Founder and CEO), of P-Rep team Midos, participated in an AMA (Ask Me Anything) event on Telegram, on May 29, 2021, moderated by P-Rep team, ICON Pinas.
The main topic of discussion was EPICX.
The transcript is as follows:
Introduction
nblaze (Midos): Hey everyone! 😊
Jenny (Moderator): Hello ICONists! Welcome to today’s AMA event about EPICX, another exciting DApp #BuiltOnICON 🔥
Jay (Moderator): great day everyone!
Jenny (Moderator): For some background information, EPICX was formerly known as FutureICX, but has since undergone a drastic rework, upgrade and UI overhaul (for both mobile and desktop versions) over the past few months. The net result for EPICX players will be a full gamified trading platform that offers many new features and 4 original trading oriented games. The new platform is more polished and provides a much improved user experience for its players..
@nblaze and his P-Rep team at Midos have put in a lot of hard work to improve EPICX, and the game is coming soon. In fact, a closed beta event will start beginning on June 1, and participants of today’s AMA will get a chance later during the Live Q&A section (Segment III) to ask questions about EPICX and potentially win an invite! 🥳
With all that said, please welcome @nblaze and let’s get started!
nblaze (Midos): Hey everyone! I hope that everyone is doing well! 😊
Jay (Moderator): welcome here @nblaze happy to have you today and excited to learn more about EPICX!
nblaze (Midos): Thanks @Jay_ICONPinas! Happy to be here, I hope that I will be able to answer the community’s most pressing questions
Segment I: Questions From Moderators
Jay (Moderator): Let’s now proceed with Segment I. Here’s question #1 for you, nblaze.
As mentioned in the introduction, EPICX is going to be jam-packed with new games, and it’s worth highlighting again that there will be 4 stand-alone DApps (games) running on this platform: Price Prediction, Crypto Duel, King of the Hill, and Against the Odds.
Can you give us a brief summary for each game and help anyone new to EPICX figure out which one(s) might appeal most to them?
nblaze (Midos): It will be my pleasure. All the games on the EPICX platform are original, made from scratch and are a different gamified spin of a different aspect of trading. I will not go into too much detail as it will take too long but practically our current games could be summarized as:
Price Predictions: A pool-based game, where players aim to predict as accurately as possible what the future price of a certain crypto currency will be. The closer you are (in comparison with the other players in the game instance), the higher rewards you get
Crypto Duels: A 1v1 strategic bag building game, where each player is aiming to outplay their opponent in several rounds of pick-and-ban crypto currency selection phases and to have a better performing crypto currency bag. The division-based leaderboard gives extra rewards depending on your standing each season
King of the Hill: SitnGo style mini trading tournaments where in 12 rounds you aim to gather more credits than your opponent. A global trading tournament with single-use power-ups is added to make things even more interesting
Against the odds: Statement based (like ‘BTC will be over $100k by the end of the month) prediction market where every player could set their own statement or agree/disagree with the existing ones. An odds exchange system allows for higher levels of certainty to be expressed (like not only disagreeing, but presenting a 5:1 option if you are right in example)
Jenny (Moderator): This sounds so exciting and we’re getting 4 games 😱🤩
Jay (Moderator): Yes, there should definitely be something for everyone!
nblaze (Midos): [in reply to Jenny]
Yes, their release will be a staged one during the beta (one every 3–4 days) so it will be quite fun to see whether players will enjoy them all 😊
Jay (Moderator): Looking forward to those crypto duels and can’t wait to see which players will emerge on top of the leaderboard 💪
Jenny (Moderator): Can’t wait @nblaze 👏
Here’s question #2 from me.
Can you tell us about the different trading pairs that EPICX will support right from the start on launch, and which other ones you’re most keen to add in the future?
Also, will BTP technology play a role in supporting cross-chain smart contracts and cross-chain token transfers, etc. to help EPICX pull in new players from outside the ICON ecosystem?
nblaze (Midos): EPICX will support 30 trading pairs at launch (unfortunately it will make a pretty long list, so Im not going to share the exact pairs right now) and we can easily add a lot more in the future. For the moment its more of a question of not overwhelming the players with options, as soon as players get used to the current system, we can easily upgrade it
Our platform is already developed in a way that is BTP ready so as soon as we have the option to connect to other crypto networks via BTP, we will be ready to do so as soon as possible. We are already discussing the potential future systems, structure and setting up options to ease that transition
We are also looking into options about integrating different events from other applications (we could in example integrate and give the players options to predict the BALN price or events from the Project Nebula’s system) and after release we will try to actively look in that direction. That respectively means that as soon as we connect with BTP, we will be able to integrate such events from applications from the Polkadot, Ethereum’s or any other network that we have a connection to
Jenny (Moderator): [in reply to nblaze]
30!? 👀 Wow that’s a lot 😱
nblaze (Midos): [in reply to Jenny]
Haha, yes! That is why we are intentionally using that limit for the moment. Can you imagine having to choose from 100 different options 😊
Jenny (Moderator): [in reply to nblaze]
🤯
Jay (Moderator): BTP is going to make the possibilities endless. Very interesting stuff going on and predicting events from Project Nebula, wow that would be something else 🔥
nblaze (Midos): [in reply to Jay]
yes, in practice anything that is stored on the blockchain, we can integrate with our system, it depends entirely on what the players would like to be added
Jay (Moderator): Moving along to question #3.
Can you go over the EPX token and dividends structure/payment? In addition, how can players maximize their rewards on EPICX?
nblaze (Midos): First of all let me clarify what EPX is for the community members that don’t know. EPX is a fully transferrable, tradable, ICON-based token and is generated by playing games on our platform.
EPX has several purposes. The main one is distributing dividends. 5% of all winnings on the platform go into a dividend pool, which in kind distributes dividends among all the token holders on a weekly basis. As long as your EPX stay in your wallet, you will continue receiving dividends on a weekly basis. If you decide that you don’t want to hold it anymore, we also have the option on the platform to return your EPX to the undistributed total supply of the token and receive a direct ICX reward
There is an event for our early adopters and its quite a large one. All players on the platform will receive a 30% higher EPX amount for the first 6 months after the release, so it definitely pays off to be an early adopter!
In regards to how players could maximize their gains — aside from the fact that most of our players will improve their skills as they play and should start gaining more, we also offer various types of reward pools, dividends, bonuses etc, which could be utilized for even higher profit
Jenny (Moderator): [in reply to nblaze]
🤩
Jay (Moderator): [in reply to nblaze]
very nice! just hold EPX and earn weekly dividends 🤑
Jenny (Moderator): [in reply to nblaze]
It says 30% higher EPX amount for the first 6mos 👀 Don’t miss out guys!
nblaze (Midos): [in reply to Jenny]
yes. closed beta included 😉
Jenny (Moderator): And lastly, can you share with the ICON community some more details about the closed beta event (which again, is scheduled to begin on June 1).
nblaze (Midos): Sure. We were running an event in the past week where we were awarding closed beta access to our most eager community members. Depending on the community members’ activity and their willingness to help us promote the platform, we have enlisted quite a few players that will receive access to the beta stage of our platform. With the closed beta access, the players will also receive 20 ICX each to try out our platform easily without spending any of their own funds
We have also decided to award 50 ICX to the 20 community members that impress us the most with their efforts (spreading the word about EPICX, making memes, videos related to the event or EPICX in general etc etc). In case that there are less players that impress us, we might simply reward less players with higher rewards, we will see 😊
There are also additional benefits of being selected as the EPICX closed beta will be running on Mainnet, which means that there will be no reset after we close the beta and start the official release — all the EPX generated and/or any profits that you have made during the beta are yours to keep
We are aiming for a release of the closed beta on 01.06 and it will start with one game — Price predictions and we will add an additional game every few days after that. The reasoning behind that is that one of the main goals for the closed beta is the testing that everything is going well and we will receive more targeted feedback this way. The 20 ICX rewards will also be received like this — in 5 ICX increments upon the release of each game
There are still some spots remaining so whoever is interested, there is still time to act 😉
Jenny (Moderator): [in reply to nblaze]
Does it mean everyone who wins today will get 20 ICX to try out the game? 😱
Jay (Moderator): Lots of ICX to be won for getting involved with EPICX early 🥳
nblaze (Midos): [in reply to Jenny]
yes it does 😂 we would like our players to be incentivized to play the beta properly — we hope that once they try it out they will like EPICX and will stay with us 😊
if there is something that they do not fully enjoy, we are always open for constructive feedback 😊
Jay (Moderator): [in reply to nblaze]
awesome! And that concludes Segment I
Segment II: Questions From Twitter
Jenny (Moderator): Awesome! Let us now proceed with Segment 2 and pick some Twitter winners.
First question is:
How will EPICX introduced to all the newbie in crypto? Or how can you encourage to all newbie to join in EPICX?
nblaze (Midos): One of the main goals of EPICX is to improve our players’ trading skills (no matter if absolute beginners or already experienced). Think of it this way — when you play a certain game subconsciously you are trying to get better at it. The more you play, you come up with more in-depth strategies, start thinking about options that you have not used before, look for resources that will improve your results etc
EPICX aims to escape the normally dull trading process and to present trading in a gaming form. That way more people will be attracted to it and as they play more and enhance their skills, they will also start making more money off trading (on and off the platform)
In order to attract additional new players, we have implemented different tools that will allow them to start and generate ICX and EPX (our platform’s token) with a minimum or even no starting capital. We will have free-to-play games, events, affiliate bonuses when you attract additional players to the platform, bonuses for market creation etc etc.
Jay (Moderator): Next question is:
What are the similarities and differences between EPICX’s “gamified trading/prediction market” and usual Futures trading?
nblaze (Midos): The similarities are quite obvious — they are both related to trading and are directed towards reading the market and focused on specific moments in the future
The differences are quite a lot. Here are some of them:
From trading point of view, your profits are not fixed on the strength of the market movement (in EPICX you can generate profits even if the market price does not move at all — as long as you predict it correctly). There are also no institutional traders on the platform, so your goal is to just perform better than the other amateur traders on EPICX in order to make a profit
From bankroll management point of view, due to the nature of some of our games you would be able to invest less and potentially win more if you are successful. There is no risk of an order wipe as in margin trading. The additional platform bonuses and dividends that are generated from each win on EPICX also provide a comfortable cushion against loses — even if you lose more than you would like to, you might get compensated to a decent extent from the dividends and bonus rewards
From a pure emotional point of view — its simply more fun. Would you prefer staring at the empty screen all day and watch the candlesticks form (although you could also set and forget the order, but that’s not fun as well) or trying to beat other players in different games in your free time?
Jenny (Moderator): And here’s the next question from Twitter:
One of the role of the token is to have a good circulation and have a better balance in a project, what is the main role of EPX in EPICX and do you have incentives for the early adopters since it is BETA?
nblaze (Midos): I think that we actually covered that question in the interview, but let me re-iterate it once again
EPX has several purposes. The main one is distributing dividends. 5% of all winnings on the platform go into a dividend pool, which in kind distributes dividends among all the token holders on a weekly basis. As long as your EPX stay in your wallet, you will continue receiving dividends on a weekly basis. If you decide that you don’t want to hold it anymore, we also have the option on the platform to return your EPX to the undistributed total supply of the token and receive a direct ICX reward
There is an event for our early adopters and its quite a large one. All players on the platform will receive a 30% higher EPX amount for the first 6 months after the release, so it pays off to be an early adopter!
Jay (Moderator): Next question is:
What is the revenue strategy for your project and how will it create profits/income to keep it going?
nblaze (Midos): As in our games the players compete against each other, not against the house, we do not have house edge income, nor do we profit from the players’ games. We are operating on a commission-based revenue, which is supposed to cover the platform costs, the network fees for the transactions and transfer of information and the future developments planned
In whole honesty, Im not expecting that this project will make us rich or that even we would be able to break even on our costs. It is definitely something that I wanted to build as I think that its something that is currently missing on the market. My coffers are starting to get a bit dry though so we are yet to see whether there will be sufficient player activity to keep us above water financially, so we can keep developing and upgrading the platform even further. I have a ton of ideas for expanding each of our games in the future and/or adding new ones and I would love to see which games players will be most interested in so we could upgrade the platform in that direction
Jenny (Moderator): [in reply to nblaze]
Do we need to claim the dividends or will it just be added to our wallet directly?
nblaze (Midos): [in reply to Jenny]
they will be added directly no matter if you have generated them by playing or someone sent them to you/traded them with you
Jenny (Moderator): [in reply to nblaze]
Awesome!
Jenny (Moderator): And here’s the last question from Twitter:
Since both iconbet and epicx are both focus on games, will there be a possibility of collaboration in the future?
nblaze (Midos): I definitely see such cooperation in the future. We have a very good relationship with the ICONbet guys and although our target market is quite different (as the nature of the games on both platforms are very different), I can definitely see how we could do some joint events or inter-platform promos and integrations in the future
Jenny (Moderator): [in reply to nblaze]
@Geo_Dude @Paolo_ICONbet 😉
Jay (Moderator): [in reply to nblaze]
would love to see that!
and that concludes Segment II of the AMA
Segment III: Live Q&A on Telegram
Jay (Moderator): Are you guys ready for the live session and more chances to win closed beta entries?
Jenny (Moderator): ICONists, ready?
Jenny (Moderator): Okay done! Chat is now muted. Thank you ICONists for your questions. Let us give @nblaze some time to pick some interesting questions he will answer.
BeiBeedayyy: How much fee do you charge in every transactions made by a trader in EPICX platform?
@nblaze
nblaze (Midos): [in reply to BeiBeedayyy]
Let me start with this one — there are no fees from our end and we are also covering the ICON network transaction fees 😊
Rose Dawson: Will EPX has a burn also?
nblaze (Midos): [in reply to Rose Dawson]
It has a burn but not in the traditional sense — we have a token ‘sell’ on the platform which removes the tokens from circulating supply and gives you ICX in return (with the tradeoff that you will not own those EPX anymore and will not receive dividends)
Eloisa Vee: Upon reading your articles, the “full game customization options” caught my attention.. can you give us more information about this and on how big it can benefit a player?
Congratulations!! Excited for the closed beta too 😍🥳
nblaze (Midos): [in reply to Eloisa Vee]
that practically means that we have a custom game option for every game that we offer. in it everything could be customized — timeframes, rules, even reward systems
minh nguyen: Marketing is at the heart of every project, so it’s important to let people know its potential. What is EPICX’s strategy to attract new users and Investors to your platform and retain them for the long term?
nblaze (Midos): [in reply to minh nguyen]
This is unfortunately something that we may be lacking as we have funneled a lot of funds into the application so we wont have too much left to spend on PR. With this in mind we have implemented a lot of different options where players could get rewarded for social activity (with ICX and/or EPX), so hopefully we will receive strong support from the community
Meg: Aside from the platform, will there be a way where we can buy or sell EPX in the future?
nblaze (Midos): [in reply to Meg]
yes, there should be such options soon. we are already in discussion with several teams which could integrate EPX as a tradable option on their site/platform
Thanh Nguyen: What difficulties did you face when starting to develop your project? And what drives EPICX to compete with so many other projects?
nblaze (Midos): [in reply to Thanh Nguyen]
I believe that its quite the contrary. We do not necessarily compete with almost anyone as our concept is very original for the market. That is why it could be a huge hit or a major miss though — the lack of direct competitors might mean that we either are early to the market and there will be huge interest or that players are not interested in such platform
Mojtaba rahsariyan: Many new projects initially developed well but were suddenly abandoned. How will EPICX manage the project to maintain its position in the market and become a good project in the blockchain world?
nblaze (Midos): [in reply to Mojtaba rahsariyan]
We are very hyped about the project, the only thing that might clip our wings could be if players do not actually like our platform and dont use it. If that is not the case, we have upgrades for quite some time planned, including directions for each game (where should it go to, how to expand it further etc) and new games and functionalities
Rocket: Do you think users are important elements of your platform? Does EPICX have any plans to attract more users in the future?
nblaze (Midos): [in reply to Rocket]
yes, users are definitely one of the most important things for our platform and for this reason we are trying to implement as many options as possible to hype up the players further and increase that player base via incentives, PR etc
Anil Kumar: How will your team solve the problem that if any person not get rewarded? To whom the person( who is not get rewarded) contact with to solve his problem??
nblaze (Midos): [in reply to Anil Kumar]
we should not experience anything like this as it is a decentralized system fully functioning via a smart contract on the ICON chain, but if that happens for whatever reason, you can always contact us on social media and we will resolve the issue asap 😊
Rocket: Safety and security are always the most important things. So what is the security mechanism of EPICX to ensure user data do not become the target of hackers?
nblaze (Midos): [in reply to Rocket]
yes I agree. first of all, all backend of the platform is set on the blockchain and thoroughly reviewed by ourselves and audit members from the ICON team. we do not keep any funds on the platform — everything is processed from your personal wallet and returned back there, so in order for someone to hack the system, they practically have to hack the whole ICON chain
Jenny (Moderator): That concludes our AMA today! Thank you everyone and huge thanks to @nblaze for your time answering our community questions. We can’t wait for the release of EPICX! This will be epic! 🥳🥳
Jay (Moderator): Thank you so much everyone for joining today and to @nblaze for all your time and effort 💪
nblaze (Midos): Thank you for letting me be a part of this event guys! 😊
Jenny (Moderator): Congratulations to all the winners 🥳 See you guys in the EPICX platform 😍
Jay (Moderator): EPICX closed beta will launch in a few short days. Hope everyone is excited 🥳
nblaze (Midos): for any further questions come over to our Telegram channel. I will be happy to answer any outstanding ones 😊
Jay (Moderator): Thank you again ICONists and we’ll see you next time!
