AMA Recap of Dude’s Army x MixSome
On Saturday, April 17th, Dude’s Army community had the great opportunity to host an AMA with MixSome’s team, very instructive and educational. We will share with you a little bit of what this experience was like.
The Dude👨💼:
Let’s start! To being the AMA with a good mood please intro yourself and share a bit of your background and how you starter working with Mixsome😊
Aug S:
Sure thing! My name is Augustas, i’m Project Lead at Mixsome. My background is building and growing companies in fintech and blockchain. I started my crypto journey in 2017, so this is a second bull run for me, haha
Mixsome was started to help tame the DeFi complexity and unlock the potential and possibilities of DeFi investing for everyone.
So in nutshell, Mixsome helps to solve DeFi complexity by visualizing different DeFi protocol and token combinations and strategies as a simple to understand transaction and yield generation flows.
The Dude👨💼:
So which development stage are you right now? Is Mixsome already running?
Can I already start using it or not yet?
Aug S:
Mixsome is a DeFi strategy aggregator built on xDAI ethereum sidechain to maximize yield generation.
We already built Testnet app, which is undergoing final fine tunings and audits and is ready to be launched immediately after our IDO.
A sneak peak for Mixsome
Mixsome will be launching with 3 pre-defined strategies, and one of them — DeFi Shark — allows to deposit and lend money on Compound protocol in an easy and intuitive way.
The Dude👨💼:
Which DEFI protocols have you covered on it so far?
Looks amazing! How are these tx fees though?
Aug S:
Great question!
We have partnered with xDAI to tackle this issue. It allows Mixsome to move the assets to the xDAI layer-2 , but when coins are in it, we are able to perform feeless transactions!
The Dude👨💼:
Amazing! So most txs are running on layer 2 so. That’s great
What are the advantages of Mixsome against those compound strategies on Binance, FTX and other CEXes that you can stake USDT and join get those APYs on top of compound easily as well
Is it the APY? The decentralization?
Can you comment more about that?
Aug S:
Our full vision is to allow users to build their own strategies too, so Mixsome provides tools for you to create new DeFi flows and start earning yield there APYs are higher/more attractive.
And also, Mixsome will be integrating many more protocols like BadgerDAO, AAVE and more to allow more strategies to be offered.
The Dude👨💼:
That’s what I thought as well but right now on testing strategies is the APY already looking better than those CEXes in the same protocols?
What I see in your product that will be awesome is:
1- The fact that you will integrate many interesting new protocols and let people build up strategies
Aug S:
For example, BadgerDAO integration enables Mixsome users to use their BTC to benefit from DeFi yields. Bitcoin is the first asset everyone buys when entering the crypto world. Being able to use it to generate revenue is very valuable for Mixsome as protocol.
The Dude👨💼:
2- Cheap tx fees for those strategies since they are running on L2. In fact CEXes which provide those protocol strategies can use your product to reduce costs btw. Not sure if you thought about that but take a look maybe you can partner with them😊
Aug S:
I like your thinking here! Strong CEX can be a great partner for Mixsome!
The Dude👨💼:
Definitely. You can partner with them and offer great new APY products😎
Ok one last question on my side before we move on…
What will be token utility?
Aug S:
Mixsome native token $SOME is a utility token — it will be used by platform users as a governance tool to improve the platform, add new strategies, vote on protocol fees & reward distributions.
And of course we are planning to use it in liquidity mining programs!
Community Questions
Q1 from Hasan Mahmud:
Currently you are on testnet phase and will be live after IDO. But my question is which DeFi protocol are you planning to support on launch?
Aug S:
There are tons of opportunities in the DeFi markets, and we can use open-source protocols to leverage these opportunities for everyone. Protocols like AAVE, Compound, Uniswap, Curve and BadgerDAO is our roadmap for this year.
Q2 from Al Bianco:
I saw Mixsome do one last round of chips with MANTRA DAO’s ZENDIT. Can you tell us what plans you have with ZENDIT and what benefits will this platform give you? Also, could you give us more information about your IDO on April 22nd and how we could participate, where will it take place?
Aug S:
You are well prepared :)! Mixsome will do our IDO with Sherpas community on MANTRA DAO and their ZENDIT Launchpad — 22nd April — https://mixsome-cash.medium.com/mixsome-partners-with-the-sherpas-community-to-hold-its-last-token-allocation-on-zendit-65c7ec3db745
Q3 from Ivan:
As I can see, many projects always use DEFI for publicity, but no actual use cases are given. As one of the projects in Defi Space, how do you distinguish your project from other existing decentralized financial projects? What is your goal for Defi Systems?
Aug S:
Mixsome is being built as users for users so that everyone can start their DeFI journey as easily and understand how complex DeFi protocols work in a simple and intuitive way. That means more market potential for new people to start investing in DeFI with Mixsome help.
Q4 from Pavel:
Pavel, thank you for your support! You can learn more about Mixsome here:
For the tokenomics: https://drive.google.com/file/d/1dpYQt15y4IRSPjwWXQMMoW0-O1ytaXBk/view
And of course you can find us on twitter: https://twitter.com/MixsomeCash
and on Telegram: https://t.me/mixsome and https://t.me/mixsomeannouncements
About MixSome
MixSome is a DeFi Flow Tool designed to create and realize yield generating opportunities. For everyone. Mixsome helps you to easily leverage your assets and mix DeFi money legos into optimized yield generating flows.
More information about Crypto Prophecies:
Website: https://mixsome.cash
Telegram: https://t.me/mixsome
Twitter: https://twitter.com/MixsomeCash
