Storm Trade X AMA session with BeInCrypto

Together with BeinCrypto, Dennis Vasin, lead developer and co-founder of Storm Trading DEX, will demonstrate the innovative features of the decentralized trading platform and their future plans during the AMA session on Telegram. Leveraging Telegram's vast user base and seamless integration, Storm Trade aims to transform the trading experience, making it as easy as chatting with friends.

Dennis discusses the platform's high leverage options, social fi mechanics and strategic partnerships, showing how these elements combine to lower barriers for new users and create a vibrant, interactive community.

Join us as Dennis Vasin answers key community questions and shares insights into the future of decentralized commerce.

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Hurricane Business Interview with Dennis Vasin

BeenCrypto: Today, we welcome Lead Dev and Co-Founder at Storm Trade DEX – Dennis Vasin 🙌

🗣 COMMUNITY I have some questions for Dennis. After that, he will answer 5 questions from you (previously selected).

Dennis, let's start at this point

Storm Trading is described as the first decentralized derivatives trading platform on Telegram. Can you explain why you chose Telegram as your primary platform and how this integration enhances the user experience?

Dennis Vasin: Hey guys! Thanks for having me here. I am happy to participate with you!

Telegram is a huge and active platform, and its user base is growing exponentially. In some countries, he became a messenger for both personal and professional communication. Integration with Telegram makes our exchange easily accessible and user-friendly.

You don't need to go through KYC or other checks, just open Telegram, create and connect a wallet and start trading – all in a few clicks. We want trading to be as simple and casual as chatting with friends. Try it yourself – @StormTradeBot.

Additionally, we use @wallet, a wallet built into Telegram that greatly simplifies the onboarding process for new users. This integration means users don't need to install or manage external wallets or worry about choosing the right network.

You can seamlessly use @Wallet to start a business, making the process effortless. This not only improves the user experience, but also lowers the barrier for newcomers to enter the crypto world.

BIC: This is what I first understood as an AMA session! So what are the key features of Storm Trade DEX that you believe are game changers for users?

Denis Vasin: We have a lot of good features: high leverage up to x50, deep integration with Telegram and social fi functions like group tournaments and distributing NFTs to participate in trading activities.

We continue to build in the SocialFi sphere because, for example, how Notcoin's simple mechanics go viral in a few clicks and is bringing a whole new audience to web3 and DeFi. We have the same plan.

One of the key features of Storm Business is its emphasis on social media, which turns business into a social movement. In today's world, business is heavily influenced by social interactions, with many business influencers and key opinion leaders (KOLs) driving trends and decisions.

By integrating the exchange with social networks like Telegram, we bridge the gap between finding and implementing a business idea. Users can quickly act on insights and signals shared within their network, significantly reducing the time from idea to execution.

Additionally, our platform supports community-building features such as group competitions where traders can collaborate and compete, enhancing the social aspect of trading. We also distribute NFTs as rewards for participating in business activities, adding gamification that makes the experience more engaging and rewarding.

This combination of social interaction and financial activity in one app not only makes business more accessible, but also fosters a vibrant, interactive community.

BIC: To attract the next 10 million Defi users, what strategies are you using to reach this ambitious target?

Dennis: We boast Telegram's 900M user base, simplify the interface, and provide learning materials to help newcomers grow quickly. We also run active marketing campaigns, partner with others, and incentivize early adopters through rewards programs.

For example, our utility token STORM's TGE is coming soon, and we currently have a reward points program that rewards early adopters for every action they take on our exchange. Just opening your first place will earn you 10 RP, which will drop like STORM tokens in the air.

Additionally, we are doubling down on referral and viral marketing strategies. Inspired by the success of Notcoin's viral campaign, we implemented a referral program that encourages users to invite others to the platform, creating a network effect that creates massive growth.

By offering awards to both judges and referrers, we aim to harness the power of social media to spread awareness and attract new users organically.

Our platform's SocialFi mechanics are another key feature that greatly enhances user engagement and growth. We integrate social elements like team competitions and collaborative trading challenges, making trading a more interactive and community-driven activity.

BIC: Storm Trade offers leverage up to x50. What measures have you implemented to manage the risks associated with high volume trading? How does Storm Trade DEX ensure overall security and privacy for its users?

Dennis: The security of our users is our top priority because the exchange is a very serious matter. We have implemented a number of key measures to manage the risks associated with high volume transactions and ensure the security and privacy of our users.

First, we conduct a thorough audit of our smart contracts to ensure their integrity and security. These audits help identify and mitigate vulnerabilities, providing an additional layer of protection for our users' funds.

Second, we allow users to trade using self-contained wallets, which means they are in full control of their assets at all times. This approach eliminates the need for KYC procedures, enhances privacy and ensures that users' personal information is not collected or stored.

Third, our platform includes a robust economic risk management model for liquidity providers. This model includes several risk parameters to ensure the stability and security of the platform. By carefully managing these standards, we can protect liquidity providers from excessive risk and ensure the health of the overall business environment.

Additionally, we employ a decentralized fluid engine that efficiently handles the fluidity of spaces. This engine ensures that liquidity is done in a transparent and decentralized manner, protecting the interests of traders and liquidity providers.

It is important to understand that our platform is designed to allow users to risk funds directly allocated to a job site. This means that even in the event of significant market movements, users' exposure is limited to the amount of money they have invested in their business.

BIC: I'm very impressed 👏 You mentioned the mechanics of SocialFi, including group marketing contests and copy trading. How do these features contribute to community engagement and platform growth?

Dennis: Great question! One of our goals is to make business fun. Users should feel like they are part of something fun and interesting. For example, we plan to add groups for Telegram channel or chat owners. By joining the group, merchant groups can compete against each other and earn special rewards. The spirit of competition and participation creates a vibrant organic community around the wave business.

Additionally, our upcoming copy trading feature is a game-changer for community engagement and platform growth. We provide business pools associated with Telegram channels for business influencers and key opinion leaders (KOLs) to copy.

This allows followers to automatically retweet their favorite influencers within the same platform they use for social media marketing. By integrating copy marketing directly with Telegram, we enable users to find and track successful traders, improve their own trading strategies and results.

These features—such as group business contests and trading pools—enhance a collaborative and competitive environment. Transforming shopping from an individual activity to a shared experience where users can learn from each other, share strategies and celebrate successes together.

BIC: You plan to launch a deep Telegram integration. Can you share more details about the upcoming features and expected impact? 👀👀

Dennis: When we talk about deep Telegram integration, we mean creating seamless and intuitive trading directly within the app. Typically, when a Telegram channel author shares a market entry opportunity, users have to go through several steps in trading – entering, finding a pair, setting the profit and amount, stop loss / take profit; and performing additional steps. This process is time-consuming and may cause users to lose good access points.

At Storm Business, we're developing features that simplify this process. Channel authors can create and share links with predefined business parameters. Users can simply follow these links, link their wallets and unlock slots instantly. This makes trading more efficient and user-friendly, especially for those who follow brands.

Additionally, we use Telegram bots as a notification mechanism in our decentralized trading platform. These bots can send real-time updates and alerts about market activity, performance and other important information, ensuring users stay informed and act quickly.

This comprehensive integration with Telegram is aimed at creating an unparalleled user experience in our web3 apps, solving the problem of user-friendly interfaces in many web3 apps.

By simplifying business performance standards and using familiar notification systems, we are committed to providing a seamless and intuitive business experience.

This focus on UX is designed to improve accessibility and responsiveness, drive improved user engagement, and streamline platform development in a landscape where user-friendly Web3 applications are rare.

BIC: With the launch of your $STORM token on the horizon, what kind of impact do you anticipate it will have on the platform and its users?

Dennis: The $STORM token will be the heart of our ecosystem providing many benefits to our users. It offers discounts on trading fees, enabling users to maximize their profits.

Additionally, $STORM holders will have the opportunity to participate in governance, giving them a voice in the platform's future development and decision-making processes.

We have developed an effective depreciation simulation method. A significant amount of protocol fees—30%—are distributed to stakeholders, encouraging long-term ownership and supporting token value. This approach not only benefits our users, but also helps maintain a healthy and sustainable ecosystem.

BIC: What innovations or trends in blockchain technology are you most excited about, and how do they fit into Storm Trade DEX's plans?

Dennis: Blockchain technology is developing rapidly, and many innovations and trends excite us, especially at Storm Trade DEX. These developments fit perfectly with our plans and vision for the future.

First, the rise of social-fi platforms is a major trend we are most excited about. Social-Fi combines social networks with decentralized finance, community engagement, and collaborative business practices.

Secondly, the integration of AI in marketing data analysis is another exciting development. AI algorithms can analyze vast amounts of trading data to identify patterns, predict market movements and provide actionable insights.

Third, perpetual decentralized exchanges (perp DEXs) and synthetic assets represent significant innovations in the DeFi space. Perp DEXs allow for continuous asset trading without the need for traditional expiration dates, giving users greater flexibility and opportunity.

Synthetic assets, on the other hand, replicate the value of real-world assets on the blockchain, expanding the range of available trading options.

As a platform that runs on the TON network, we are eager to leverage its high-speed, low-latency transaction capabilities to ensure a seamless trading experience. To complement this effort, we are introducing new features like Wallet v5 with gasless transactions and one-click transaction functionality.

Additionally, we implement account abstraction, a feature that allows users to interact with smart contracts without having to directly manage gas payments. Gas bills have traditionally posed challenges for consumers, often causing delays and disruptions to the business process.

By introducing gasless transactions and simplifying one-click transactions, combined with Account Abstract, we aim to alleviate these issues and provide users with a simpler, more efficient trading experience.

These advancements in transaction processing and user interaction allow us to handle higher transaction volumes more efficiently, reducing wait times and allowing users to take advantage of market opportunities without delay.

BIC: What advice would you give to developers looking to get into the DeFi space and build their platforms?

Dennis: For developers looking to get into the DeFi space and build their platforms, my advice is to immerse yourself in the ecosystem and keep up to date with new developments. Participating in hackathons and diving into open source code can provide valuable insights and hands-on experience.

However, it's important to remember that success in DeFi is about more than technical proficiency. Focus on building a user-friendly interface and ensuring strong security measures to build trust in your platform. Additionally, don't underestimate the importance of product development, marketing, and community engagement.

Listen to your users, respond to their feedback and grow a strong community around your platform. Also, to all developers out there, remember to prioritize the technical and social aspects of your project—it's key to long-term success.

BIC: Okay, let's move on to the questions from our community, how does Storm Business Tokinomics support these goals?

Dennis: That's a great question. Let's explore how liquidity offers work in storm trading and the strategies they use to encourage user engagement. Traders are engaged in trading by guaranteeing when they open positions, and storm trading gives these traders an advantage.

To facilitate this benefit, external liquidity is used, and here liquidity providers play an important role. By providing liquidity to Storm Trade, users enable trading activities and receive 70% of the protocol fees generated in return.

Additionally, we employ liquid mining as an incentive mechanism, which rewards users with reward points by providing liquidity. In the future, these reward points can be converted into Storm tokens, which will further encourage liquidity. Storm Token acts as a buffer, enhancing the liquidity model and facilitating smooth transitions.

Notably, the liquidity offering on Storm Trade differs from traditional models, as it involves providing liquidity in a single token rather than multiple pools, currently offering an attractive APR of 73% on USDT. Together, these strategies encourage user engagement and liquidity, fostering a strong and vibrant ecosystem around storm trading.

BIC: @BGerbara: Can you discuss any partnerships or collaborations that Storm Business has established with other projects or platforms in the blockchain and cryptocurrency space and do these partnerships enhance the platform's offerings and reach?

Dennis: Yes, our partnership is critical to the growth and viability of our ecosystem. We prioritize collaboration with other projects and platforms in the blockchain and cryptocurrency space, leveraging collaboration to enhance our offerings and expand our reach.

Our partnerships span a variety of sectors, including ecosystem projects, investment funds and media resources. With attractive prizes, we regularly host partner competitions, encouraging participation and community engagement. These competitions encourage users to trade on Storm Trade, climb the leaderboards and compete for prizes.

In addition, we partner with leading investment funds that have invested on the platform, providing valuable support and resources. We are also excited to announce our partnership with the Pie Networks and Stork Oracle Data Provider Networks, which will enable low-latency feedrates on Storm Business.

These partnerships not only enhance the platform's capabilities, but also reinforce our commitment to providing users with reliable and up-to-date market information. We are grateful to all our partners for their continued support and cooperation and look forward to strengthening these relationships in the future.

BIC: @NilsaTellez50: The “trade everything” concept is interesting. Can you explain how Storm Trade allows users to trade different types of assets, including both cryptocurrencies and real-world assets, in one platform?

Dennis: Definitely! At Storm Trading, our commitment to “trade everything” extends beyond cryptocurrencies to include real-world assets all in one platform.

We recently added nearly 20 major cryptocurrency market leading tokens to the platform, providing users with access to a wide range of trading opportunities. For example, we have recently listed the NOTcoin futures that have become very popular among our users. But our vision does not stop there.

We are actively working to expand our offerings to include assets beyond cryptocurrencies. Imagine being able to trade Forex and commodity assets directly from Telegram. Imagine the joy of trading oil futures or shorting gold at historic highs.

At Storm Trading, we are committed to empowering users to trade a variety of assets seamlessly, making the world of trading more accessible and exciting than ever before.

BIC: @Huyenlay: How does ton-margined trading on Torm trading differ from traditional stable coin-based trading and expand trading opportunities for users?

Dennis: Ton-archive trading on Storm Trade offers a significant shift from traditional stablecoin-based trading, offering users unique benefits and expanded trading opportunities. Ton Margin futures represent a significant breakthrough for the Ton ecosystem as they allow Ton to serve as collateral for positions and pay commissions.

With TON Margin Futures, users need nothing more than TON in their wallets, streamlining the trading process and enhancing convenience. As the Ton ecosystem approaches mass adoption, Storm Commerce is poised to emerge as one of the leading platforms, driving further growth and adoption.

It is worth noting that USD-Margined Futures is the most popular crypto trading product, accounting for 90% of the output, while Ton-Margined Trading caters specifically to the Ton adopter community.

Therefore, StormTrade offers users a wide range of both Ton-Margined and USD-Margined futures, which includes trading opportunities within the platform.

BIC: @sondeptrai5: Can you explain how Storm Trade addresses concerns about drift and front running in decentralized trade? How does Storm facilitate cross-chain trade?

Dennis: Yeah, that's a good question. As we've said before, the safety of our users and assets is paramount. To avoid front running, we use powerful onchain price oracles, thanks to our partners like Pit Network and Stork, to increase prices several times per second with minimal risk of delay.

We continuously audit all of our smart contracts and use robust risk management metrics to ensure that our liquidity providers are always protected.

BIC: Okay, well, that's it! Dennis, thank you for your time today 🖤

Dennis: Thank you for inviting me!

Summary

As the AMA wraps up with Dennis Vasin, we've got some interesting insights into the Storm business. Deeply integrated with Telegram, offering high-capacity options and incorporating SocialFi mechanics, Storm Trading aims to create a seamless, engaging and user-friendly trading experience.

Dennis' insights into the platform's innovative features, strategic partnerships and future plans demonstrate his commitment to transforming origin marketing. With a focus on accessibility, community and cutting-edge technology, Storm Trade DEX is designed to lower barriers and attract a new generation of traders.