In the DIFX AMA, Mr. Jeetu Kataria, our CEO, joined our great Indonesian community to talk about some of the main topics concerning the crypto industry. Mr. Kataria also shared some exciting news about the DIFX upcoming features for the first time!
Here are the highlights of the event:
DIFX Journey So Far
The idea of DIFX came from wanting to create a singular platform that could meet my needs of trading both traditional and digital assets seamlessly. The goal and mission for DIFX have always been to create a platform that bridges the gap between these 2 asset class types. In our opinion, the future for a decentralized generation lies in the blending of them to create a diverse and large portfolio of assets. The exchange is still relatively new as we launched in September 2021 but I’m happy to say that we are growing at massive speed 🙂
Q: The past few months have been a fascinating time for DIFX! Could you give us a brief update?
Q: What do you mean by your partnership with Fireblocks? How exactly have you grown with them?
Fireblocks is our asset custodian provider, their technology and insurance have allowed us to become a fully insured crypto wallet as well as exponentially grow in the past few months. I knew since our launch in 2020 that choosing the right crypto custody infrastructure partner was essential to our success and that achieving a strong return on investment was critical for our new trading platform.
Because of our partnership with them, we have grown from $5 Million to $500 Million in assets under management. The added security and insurance provided have given our users the utmost faith and loyalty in our tech and exchange activities.
On DIFX Features: They’re Designed With the Market Risks in Mind
Q: With all the market volatility going on, DIFXs fully insured wallet is surely a standout among the crypto community.
Honestly, it is very amazing to see the response of the crypto community to our fully-insured wallet. Our number one goal and priority will always be our users. From the get-go of our project, we wanted to create a fully secure and safe trading environment for crypto because we all know how dangerous and unsafe this market can be.
The fully insured wallet offers that, thanks to our partnership with Fireblocks! The unique MPC wallet technology we have integrated into our exchange has definitely upped the industry standards of security and helped us prepare for any risks that may occur. With these wallets, DIFX users will never lose their funds, as they will always be insured even in case of their death. This is exactly why this feature is truly beneficial for our Nomination Program.
Q: You guys released a very exciting new feature in March called the DIFX Nomination Program. Could you elaborate further on this?
Yes, our new trademark feature is called the DIFX Nomination Program, it is essentially a safety blanket for all DIFX users to use when they want to pass down their digital assets to their friends and loved ones in case of their death. With the crypto industry growing every year, users are more concerned about what to do with their amassed digital wealth.
This is exactly why we created our nomination program to ensure that our users can nominate anyone they want to inherit their crypto assets. We have created a trademarked blockchain-based system to ensure that our users can nominate their nominees through smart contracts that will be locked until the time comes. The process to nominate someone is very simple and quick.
A user can add up to 5 nominees for their crypto wallet and can assign any desired percent to them. The nominees will only know of their allocated amounts once the user has passed away.
On DIFX and Its Cross-asset Trading Options
Q: DIFX is described as a cross-asset exchange, what exactly does that mean? What are the other asset classes DIFX users can trade in?
Personally, I am a trader with a diverse portfolio of multiple types of assets, Cross-Asset is something I wholeheartedly believe in because a smart trader is someone who knows how to mitigate risk and diversify themselves. With DIFX, users can trade between multiple asset classes like Forex, Indices, Cryptocurrencies, Metals and so much more. In fact, traders can even have exotic pairings like BTC & Gold or ETH & Silver.
DIFX Upcoming Features
Q: Are there any new features and updates on the horizon for DIFX. If so, could you tell us more about it and when they are expected to come out?
So this is an exclusive that I have not shared with any publications or communities yet! We are in the midst of planning to release new upcoming features revolving around futures & insurance trading. In terms of tech, this is going to be a major update for our users as we will be adding more highly desirable features. We also are listing a ton of new upcoming and popular crypto tokens and coins!
You guys can keep an eye out for this during the end of June, we will be updating everyone on our community socials till then.
Questions From the Community
Q: I haven’t used DIFX yet. Are there any referral events for a new user? What are the requirements to be declared a valid new user? And does it have to be KYC?
We have a couple of interesting referral programs currently on the platform. As I mentioned we have a sign-up bonus, where users can stand a chance to win up to 500$ DIFX points on simple tasks including signing up, KYC verification, Deposit, and regular trades.
Do check out the terms and conditions to get rewards.
On top of that, we have also integrated an attractive friend referral program. Where by referring friends, family, or loved ones, users can earn 25% off on the trading fees incurred every time a friend trades!
Q: Can you list 1-3 killer features of the DIFX that makes it ahead of its competitors? What are the competitive advantages of DIFX that you feel most confident about?
It’s all about creating an ecosystem for all our users, The killer features I would say that set us apart include insured wallets, a nomination program, diverse portfolio i.e. cross-asset trading. With our custodian partners, the wallets are insured. In case of death, via our blockchain-based nomination program, users can transfer their funds to their loved ones, and most importantly, in simple terms, with our exchange users can directly trade a traditional asset with a crypto asset, for example, bitcoin with gold.
Q: Security & User Interface are the Most Important Aspects that Users see on a platform. How has DIFX worked on this? Is the Platform suitable for Newbies in the crypto field?
Security is key and our focus, Hence, we initially did a pen test (Penetration test) from Hacken. On top of that, we have insurance for the funds our users have on the platform. As far as the UI is concerned, we have ensured to make it extremely simple for usability and open to receive feedback from the community and ensure it is worked upon. By the way, expect a revamped UI with added features by 1st week of July.
Q: What are DIFX token widgets in the DIFX ecosystem? What plans do you have to increase demand for DIFX tokens? How can users earn DIFX tokens?
It’s all about utility! DIFX token is currently working as a native cryptocurrency of the exchange to ensure the reduction of trading fees. However, the team is also working on a DIFX Pay model, a POS system, where users can use the token to make payments.
Q: On moving forward through your roadmap, what are your most important next priorities? Does the team have enough fundamentals, funds, community, etc?
We are very strategic with our roadmaps. We are coming up with futures in our new feature launch during the 1st week of July. And you will be able to make cross-asset trades. The team is well-funded and comprises of strong, hardworking individuals
Q: Can you share some details about recent major achievements done by DIFX? Also, what are the future targets and roadmap of DIFX?
I am pleased to announce we received several awards and accolades over the last 1 year. To name a few, we were awarded the best new trading platform for 2021 and the most trusted cross-asset trading platform for 2022. To provide more features for the community, our concentration is on creating an even simpler user experience along with the launch of futures on the platform. As a long-term vision, we plan to have our own NFT marketplace as well!