Aug 5, 2021

15 min read

Zerogoki AMA | BitWell : A Crypto Derivatives Exchange

BitWell is a crypto derivatives exchange and aims to provide a wide range of services such as digital asset derivatives trading to global users, jointly promoting the development of the blockchain industry and realizing the free flow of digital asset values.

At 12:00 pm UTC on August 4th, Zerogoki invited BitWell’s CMO Ms Yu Zhu ( Amanda) as guests to visit our community to introduce BitWell’s latest progress, competitive advantages and project vision.

The following is a recap of the entire AMA:

🎪 Venue For AMA :

🎁 Reward Pool : 50 $REI worth over $200

Guest : Yu Zhu (Amanda) — Bitwell CMO


Antonio |: Hi Amanda, welcome to the Zerogoki, let us make you admin, hold on a second

Yu Zhu : Hello everyone, I am Amanda, the CMO of BitWell. Nice to meet you guys~

Antonio |: So Amanda, to begin with, we would like to ask you to introduce yourself to everyone in this community.

Yu Zhu : Let me introduce myself. I previously served as the marketing VP of MEXC Exchange, and built the marketing strategy and tactics system of the MXC platform from 0 to 1, helping the platform achieve a million user growth in 4 months. At BitWell, I am responsible for strategic marketing planning, market development and promotion, branding and marketing strategy.

Antonio |: great, that’s a lot of related experience

Antonio |: Q2. So next, please let Amanda introduce BitWell to everyone.

Yu Zhu : Ok,thanks for hosting!

BitWell aims to provide a wide range of services such as digital asset derivatives trading to global users, jointly promoting the development of the blockchain industry and realizing the free flow of digital asset values.

As we can all see, the blockchain and digital asset industry is now in the fast lane of booming development.

In the past two years, the number of professional institutions and investors has been increasing, and the trading volume of derivatives market is growing exponentially.

The crypto industry, while hot, also needs mainstream derivatives to amplify returns or narrow risks.

Then we can find that the industry lacks a comprehensive and professional derivatives platform with products that can satisfy not only professional investors but also novices and easy to use, and BitWell was born to address this market demand.

BitWell’s team members come from 10+ countries and regions such as Europe, America and Asia Pacific, with core backbone from Morgan Stanley, IBM, Paypal, Tencent and other global famous financial and technology companies;

Many core members have multinational working backgrounds, have worked deeply in the financial trading field on Wall Street, and have rich practical experience in blockchain asset trading.

After 1 year of development, BitWell now has several product lines such as options, perpetual contracts, spot, and savings, etc. BitWell is the first options platform in the world to launch DeFi options, and has the most varieties of options.

It is also a platform with the most comprehensive options product lines, with bull/bear contracts, simple options, and options chain(T-quotes) to meet the needs of users at all levels.

BitWell is the first to launch IMM market making incentive mechanism in the industry and MakerPal product.

Also, BitWell is the fastest and most complete platform for listing BSC quality projects spot trading. BitWell can provide users with one-stop digital asset trading and financial management services.


Antonio |: Thanks, that was quite long and detailed answer, but indeed great credentials for BitWell. We let our community members to digest the answer before we head on the next one

Antonio |: ok so we move on the 3rd question now. Well, so we now have a preliminary understanding of BitWell. Amanda, you mentioned earlier that BitWell has a very rich product line, so can you give us a detailed introduction?

Yu Zhu : BitWell now has several product lines such as options, perpetual contracts, spot, and savings, etc.


BitWell is the first options platform in the world to launch DeFi options, and has the most varieties of options. It is also the platform with the most comprehensive options product lines, with bull/bear contracts, simple options, and options chain (T-quotes) to meet the needs of users at all levels.

Bull/Bear Contract:

The options portfolio product Bull/Bear Contract is a simpler, shorter-period European-style option. It is perfect for novice users who don’t know much about options but want to get exposure and experience them.

Bull/Bear Contract is the equivalent of a real-time parity option, which is cheap and only requires judging the rise and fall of the market while having the advantage of options which is never liquidated. Even if there are drastic fluctuations in the market, there is a chance to roll over until the expiration of the settlement. Even users who have absolutely no knowledge of options can easily get started with the experience.

Simple Options:

Simple Options is the first innovative and simplified options product launched by BitWell, allowing users to simply select the coin and period, choose call or put, then select the strike price and fill in the quantity (conts) to place the order, avoiding the complicated parameters and leverage selection.

Simple Options is suitable for users who have some basic knowledge of options.

Options Chain:

Options Chain is a professional version of BitWell’s options trading product for institutional and professional users, with a more concise and intuitive interface, more suitable for the trading habits of professional users with better performance, higher information density, and faster trading.


BitWell spot trading section is now online for BTC, ETH and many other mainstream coins, such as BNB, HT, UNI, MATIC, and many other popular tokens of USDT spot trading pairs. Also, BitWell has opened DeFi, Polka, BSC, NFT and other assets zone, selecting related concepts of high-quality asset tokens online trading.

Speaking of which, I would like to remind you that from August 05 15:00 — August 08 15:00 UTC, we will open the second phase of the deposit voting event, as long as more than 1,000 users deposit Zerogoki (REI) (ERC20, no limit on the amount of deposit) is considered a successful vote, and the first 500 people who participate in the deposit voting will be able to share REI worth 2,000 USDT. After successful voting, the REI will be listed in the BitWell spot trading NFT section and will be available for trading. We welcome your active participation!


Savings is a community-based flexible coin deposit finance product launched by BitWell. Users can participate in savings and choose the corresponding prize pool to deposit corresponding coins to get interests. Users can deposit and redeem anytime without limits, and T+1 settlement and interests proceed.

BitWell Savings supports many stable tokens such as USDT, USDC, BUSD and DAI, and many popular coins such as BTC, ETH, BNB, CAKE and DOT.

Antonio |: Guys, do check out this link : BitWell launches the second phase of deposit voting event: Zerogoki(REI)

“ The first 500 people to deposit will share 2000 USDT of project tokens”

Antonio |: thank you for the detailed answer Amanda, we at Zerogoki are excited to be listed in BitWell soon

Antonio |: ok let’s move forward

Antonio |: So BitWell does have a wide range of product lines, so let’s ask Amanda again to summarize the advantages of the platform’s products for everyone.

Yu Zhu : 1. The product mechanism is optimized on the basis of the mainstream, large exchanges to adapt to a variety of business scenarios

• It is more friendly to common retail investors and can be switched seamlessly when transferred to BitWell trading.

• For investors with high frequency trading, sufficient space is reserved for them to trade.

2. API support for high frequency and large amount trading

• High number and frequency of orders are supported to be placed per minute and per day, enabling to handle orders of large amounts.

• Flexible docking to high frequency trading teams that can provide active cooperation.

3. A variety of order types

• Introduction of traditional trading order mechanisms such as NYSE

  • The ‘same side best’, ‘sell plus buy minus’, and ‘trigger id touched’ are unique order types in the cryptocurrency industry.ver~thanks!

4. Perpetual Contract supports a multi-currency cross collateral function, and only three exchanges in the industry have the ability to support this function at present.

• Users holding BTC, ETH and other coins do not need to sell, they can trade directly as futures margin, without any collateral or borrowing, thus no borrowing interest.

• Compared to other platforms, users have a higher utilization rate of funds in BitWell.

5. The depth of perpetual contracts exceeds that of second-tier exchanges, approaching the top 3 exchanges.

• Several large market makers provide liquidity to keep the enough orders depth.

• All kinds of trading users trade on the platform, providing long/short, buy/sell, maker/taker type orders at any time.

6. Users who trade perpetual contracts can also use hedging tools such as Bear/Bull contract and MakerPal simultaneously.

• The universal market-making incentive mechanism IMM and MakerPal are unique to BitWell, and the structured options product Bull/Bear Contract can only be traded at BitWell.

• Perpetual, Bull/Bear Contract and MakerPal form a combination strategy, can effectively achieve risk hedging.

7. Traders can also use options to hedge against perpetual contracts

• Bull/Bear Contract, Simple Options and Options Chain can meet the needs of different users, no matter novice, professional or institutional users, they can find the right product for them.

• With the largest number of options varieties in the industry, you can meet more needs of risk hedging.

8. Free funds can be deposited in BitWell Savings to enjoy high flexible returns.

• Deposit USDT to get USDT long-term APY more than 10%, ranked in the forefront in the industry.

• Support a variety of stable coins, mainstream coins, popular coins flexible finance with low threshold, deposit and withdraw anytime, and daily settlement.

That’s all~thank you!

Antonio |: Impressive , let the community have a deep look at the answer, they might come up with some questions in the live session later

Yu Zhu : ok

Antonio |: ok so now we are at the end of 1st session, here is the last question for you.

Antonio |: Would you mind introducing the BitWell’s platform token, $WELL ?

Yu Zhu : Never mind~ WELL is BitWell’s platform token, based on Ethereum’s decentralized crypto ERC20 Token and has been connected to the Binance Smartchain.

WELL is also a representative of BitWell’s community rights and interests. The current rights and interests include: discounted platform transaction fees, WELL vault, liquidity mining as a “gold shovel”, priority purchase rights for products, community governance voting rights, and the right to be selected as the community’s founding partner, etc.

The maximum nominal supply of WELL is 2.1 billion, which will never be increased. We hope to encourage effective behavior and reward the community users to get the pass, so as to form a positive incentive for the community; secondly, through various ways to motivate users to participate in it personally, so that users can personally participate in the destruction of WELL through their own behavior, and at the same time form a consensus of price increase. Therefore, we have designed an economic model for WELL with extreme deflation and multi-threaded accelerated destruction.

Up to now, 28.75% of WELL has been destroyed, and the ultimate goal is to destroy up to 21 million (1% of the total).

With the continuous development of the platform’s external cooperation, the application scenarios of WELL will also increase. In the future, users will be able to use WELL directly to make offline payments, purchase NFT artwork, etc. WELL will become the hard currency of the BitWell platform, as well as a bridge connecting the blockchain world of BitWell to the outside world.


Antonio |: Interesting insights

Antonio |: Would you like to send coinmarketcap or coingecko link to our community , they might be interested to follow $WELL?

Yu Zhu :

Antonio |: Thank you, that lead to the end of our 1st Session


Antonio |: Now we enter to the Second session and which is twitter questions.

Antonio |: are you ready? @Amanda2100

Yu Zhu : yes~

Antonio |: Perfect

Yu Zhu : I am ready

Antonio |: let us begin with the 1st question

Antonio |: 1. From @1CapPR

I was going through your Twitter account and saw the tweet that Bitwell is going to be the next ‘Binance’. That’s a very bold statement. What are the features that are there in Bitwell that gives the world’s biggest exchange a tough competition?

Yu Zhu : In the past 1 year, many traditional financial institutions have been entering the digital asset field, and the institutionalization of the crypto market is gradually becoming a trend. With the continuous influx of traditional institutions, it will certainly bring more demand for risk hedging of digital assets, and for institutions, the use of derivatives for risk hedging will become the immediate need, so this area will gradually become the main track for the development of the industry.

At present, the cryptocurrency derivatives market is still at an early stage of development, and the trading volume accounts for less than half of the whole market. However, we can see that derivatives represented by options have gradually started to become familiar to everyone, and the whole crypto derivatives market will have great imagination in the future.

As a derivatives exchange, BitWell is using options as a breakthrough to enter this market.

As I introduced before, regarding to specialized products as options, BitWell has developed different products for different user groups. Bull/Bear contract, simple options and options chain can meet all users’ understanding and needs for options, so that all users can find the right product for them at BitWell, which is one of the original intentions and advantages of our platform.

In addition to options, BitWell also has perpetual contracts, and you can check out our perpetual trading volume and depth of trading, which are currently no less than the top platforms in the industry.

BitWell has just started. In the future, the platform will launch more derivative products, including but not limited to: volatility contracts, ETF, various index derivatives, insurance, etc. so that users with different risk appetite and capital size can build suitable portfolios according to their needs.

As for Binance, we all know that Binance is the world’s largest exchange with very large users and trading volume, and has huge advantages in spot trading, perpetual contracts, etc.

While BitWell is not aiming to directly compete with or even replace Binance, but rather to become a platform with comprehensive products in the field of digital asset derivatives, similar to Binance, so that users can build different investment portfolios according to their needs and realize investment returns.


Thanks for your question!

Antonio |: and thank you for the answer. I do admit that instead of competing with Binance, BitWell is paving its path into more derivatives exchange.

Antonio |: ok, great, let us hop on to the 2nd question from the Twitter

Antonio |: 2. From @Reashes28

What are the use cases of Well Token? Can it be used to pay fees while of BitWell Exchange? Any other features?

Yu Zhu : WELL’s current rights and benefits include: platform trading fee discount, WELL vault, liquidity mining as ‘gold shovel’, priority purchase right, community governance voting right, community creation partner selection right, etc.

WELL’s fee deduction function is under development and will be available soon.

In addition, BitWell has also started cooperation with many institutions and project parties to continuously enrich the application scenarios of WELL. For example, WELL will soon have access to Visa, PayPal, Master Card and other global payment channels. Also, WELL will be available on Alchemy Pay, fiat and digital currency aggregation payment platform, etc. By then, users will be able to use WELL directly to make offline payments in over 65 countries and regions around the world.


Antonio |: Amazing features

Antonio |: So the 3rd question is

Antonio |: 3. From @CryptoSwager7

Trading derivatives can be very risky even for professional traders. Would like to know, the risk management features currently available @BitwellGlobal and how it has helped traders in minimizing loss?

Yu Zhu : 1. At the system level, we have a group of very professional and experienced R&D teams to ensure high concurrency and reliability of the system.

2. At the governance level, we draw on the experience of traditional finance to develop strict internal governance codes to avoid insider trading and other irregularities.

3. At the product design level, we design derivatives specifically for inexperienced users on the one hand, and limit the leverage of products for junior users on the other hand, thus reducing the investment risk of users

4. We also actively promote investor education to help them better understand derivatives and make more rational investment decisions.


Antonio |: ok

Antonio |: 4. From @hiphip69005539

AMM is being used by many projects because of its convenience and safety. So does Bitwell plan to launch AMM in the future?

Antonio |: here is the 4th question for you

Yu Zhu : The AMM mechanism is really good, but the impermanent losses involved are a big headache for users. Many users have feedback to us that while receiving dividends, mainstream coins such as ETH that should belong to them are forced to be exchanged for extremely risky cryptocurrencies, and many times the loss is not worth the gain.

Therefore, BitWell team was inspired by AMM’s commission bonus model, combined it with the traditional order book trading model, innovated a new mechanism IMM universal market making incentive mechanism, and launched the MakerPal product based on IMM.

Here I’ll give you another summary of the characteristics of the IMM-based MakerPal products.

IMM-based MakerPal features:

1.Unfilled orders can have 30% APY compensation, placing orders without worry.

2.Filled orders also will incentive commission, for all users.

3.Innovation of the traditional order book form.

4.No impermanent loss, no need to worry about the mainstream coin assets damage.


Antonio |: great information

Antonio |: Ok now are heading onto the last question of the 2nd session and soon after that we will go with live questions. Everyone should be ready with their questions, we will give only 1 minute to post questions. Also, follow the rules and join BitWell telegram group at

Antonio |: ok let us move ahead to our last question of the segment

Antonio |: 5. From @micki_26 Derivative trading is a trade that has a higher risk than spot trading. As a derivatives platform, what does Bitwell offer users to be interested in joining Bitwell? And how does Bitwell guarantee the safety of user funds?

Yu Zhu : In terms of trading, our perpetual contracts support 150X leverage, as well as cross collateral and other features that many other platforms do not have. Users can experience more rich trading features here. The options product also has a wider variety and a better product line.

In addition, we will provide you with more online and offline activities, various kinds of airdrops, and bring you more benefits by expanding external cooperation, etc. Welcome to experience BitWell. For those who are interested, you can join our telegram group here:

BitWell uses a combination of multiple signatures and Threshold Signature (TSS) technology at the system level, and the private key is held by multiple people, without relying on a single person to authorize it.

BitWell has set up an investor protection fund of tens of millions of dollars since its inception. The team has independently developed a multi-layer cold wallet system, where assets are deposited to cold wallet addresses, and funds are gathered and withdrawn through offline signatures. So users are free to deposit and withdraw in BitWell, and assets are safe and secure without worry.

That‘s all!

Thank you for your patience!

Antonio |: Wonderful. Thank you Amanda for such detailed answers, I hope the members are satisfied with the answers.

Antonio |: Ok, now the big moment. LIVE questions

Yu Zhu : That’s all for my answer today,Please continue to pay attention to BitWell and ZEROGOKI

Antonio |: Are you ready @Amanda2100 ? You may chosse 5 questions randomly to answer


Q1 : Bitwell is global project or local project? At present, which market are you focus on, or is it focused on building and growing to gain customers, users and partners?

Yu Zhu : Global,Such as Indonesian market and European, American, Japanese and Korean markets

Q2 : To have a community believing project and supporting is the biggest aspects of success. Do you have any special plans to attract and expand the community and improve the community experience even more?

Yu Zhu : We will expand the market by doing targeted brand activities and expanding volunteers.

Q3 : We are living in the advent of YIELD FARMING and Liqiudity Mining, can you share your personal opinion on Yield Farming and also Briefly explain your Liquidity Mining Program??

Yu Zhu : Safety, innovation, transparency

Q4 : Sir How can I buy this tokens? Is it available on any exchange?

Yu Zhu : on BitWell exchange,

Antonio |: one last question @Amanda2100

Q5 : How can users stay updated with this project? Are there channels, including local communities where users can get the latest updates??

Yu Zhu : You can join our telegram


Antonio |: perfect. Thank you Amanda for spending such a long time for answering those questions

Antonio |: Hope we see you again in the group for another session.

Antonio |: Cheers

Antonio |: Chat will be back to LIVE now

Antonio |: Admins will help collate the winners info

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