RECAP AMA EPID COMMUNITY X VEGASWAP
🕖AMA Timing : 14th October 2 PM UTC | 9 PM (GMT +7)
🏚Venue For AMA: @EPID_Community
💰Reward Pool : 100$
➡️Part 1: Project Introduction.
Q1: Can you give a brief introduction of what VegaSwap is? What is it aiming to do, and what it intends to solve in this industry?
Vegaswap is a Multichain Defi Marketplace where anyone can swap any asset and build wealth by providing liquidity.
The concept of Vegaswap came from the work of marketmaking for the 0x decentral exchange. We worked with Blake Henderson from 0x, who coined the term Defi.
we are looking to build a global decentral marketplace with fair access to everyone in the world, regardless which country they are based in
This presents big opportunities for people e.g in South East Asia, so they can be engaged in DeFi trading of any kind of asset and currency, market making, lending, all under one platform with Smart contracts on Ethereum and other blockchains
for more about Vegaswap, you can find out from:
🍀 Website: vegaswap.io
🍀 Channel: @vegaswapio
🍀 Discussion: @vegaswap
🍀 Twitter: @VegaswapAMM
🍀 Developer community: https://discord.gg/hCcjmNM83c
Q2: Can you share some of your background and experience? How did you know and get involved in cryptocurrency? What made you/your team decide to found VegaSwap?
as mentioned above, our team has involved in cryptocurrency since 2012 with the focus on Lykke, an early Bitcoin exchange, 0x, Macro Exchange, RapidTrade and also worked with Charles Hoskinson from Cardano
and why cryptocurrency?
it is because we've been working in the financial sector for more than 10 years before involving crypto
and there's one thing we realized that is the accessibility to the fund is pretty limitted
it's somehow become exclusive to the people who have good connections and wealthy
so our mission is to bring the fund to all the good projects out there from all over the world
no matter if you're wealthy, have good connections or not
as long as you have a good project and idea, then you can strive and get the fund you need
and the decentralize exchange world offer us the chance to make it happen
Q3: Currently, there are many scam projects that cause investors to lose. So, Why we should choose and trust VegaSwap?
with the fast growing market, there are a lot of scam projects being created everyday.
Since we are incubated by notable investors and incubator, including master venture, square capital, titan ventures ... As you guys all know, these investors wouldn't invest to any scam projects to ruin their reputation.
As the same time, to innovate in this market, we start to build a lot of things from scratch, to make sure we have a room of improvement in the future instead of being locked down to current way of running defi currently.
➡️Part 2: Question From Twitter (5 best questions)
There are many projects trying to empower DeFi lately come with good ideas but most of them will probably stuck or even Failed. What does VegaSwap offer; which does not yet exist and will make this project last?
What improvements will you add to your products in the near future?
Yes, as the market grows rapidly we have to say not many ideas will succeed. However, most of them will make a change by contributing or enhance to current idea, or new idea for the defi market.
At Vegaswap, we aim to offer a new way to current defi product including boost pool ( a better way to stake with higher reward ), farming and swapping.
since in our point of view, there is much room of improvement to current formula k = x*y of most popular uniswap protocol. So we aim to bring order book like CEX to the vegaswap, as well as bridging.
In the near future, 2 products would be released would be the boost pools and swap pool.
What innovations has Vegaswap brought to the DEFI space? How is Vegaswap changing the new DeFi ecosystem and what are the plans for the next few years?
our innovations would be started with the new protocol for swapping.
In the current market, most of defi protocol follows uniswap model which is k = x*y. However, we would like to create a better protocol
it requires quite a lot of data, research and experiments to get done. Once that done, I think it will bring to the defi market, another way to swap which results in more efficient way of exchange assets in the market.
Few years would be a long time, we plan pretty much on every 3 months, to bring certain features and get feedbacks from the users.
And like I mentioned above, we will focus on the boost pool and the dex first in the upcoming 3 months.
🚀 Dynamic curves
you please explain about those features and benefits for their users?
1. Dynamic curves: instead of the hard fixing formula k = x*y, we will have a dynamic curve based on the volatile, price, volume of the pair at current in time.
2. Smart pools: Most of the pool today is quite basic, we plan to have a better pool with more customized features for the pool creator / pool owner.
for the multichain part: it would be a big plan in the future, we plan to do multi chain swapping started with EVM compatible ones first ( Polygon, BSC, ETH, .. )
stablecoins is a very interesting object to look at. I think curve is the most popular one in the market regarding stablecoins. In our research on the new swap protocol, we have some good way to address stablecoin curve, taking into account that their curve is much more different to normal high volatile pair for example: BNB / VGA
These are the quick reviews of those, since if any of us want to get into more details about those, feel free to join us on our telegram / discord.
what are the ways that $VEGA generates profits/revenue to maintain your project and what is its revenue model ? How can it make benefit win-win to both invester and your project ?
Like any other DEX project
we get our income mainly from transaction fee
if you use VGA to pay for transaction fee, you get discounted fee. And we will also burn those VGA, which will increase the VGA value in the future. And it benefits the VGA holders as well as project creators, investors
Currently all projects are launching their own NFT programs, So I want to know if you have any thoughts on launching an NFT program And if you turn it on, what is its roadmap?
NFT is a very interesting market to look at
however for now, we are focusing mainly on building the new protocol for exchange ,since it will take most of our time.
We will look into building more interesting on NFT in the future but not now :)
We love NFT btw :)
➡️Part 3: Free asking (5 best questions)
Where I can get the latest updates or more information about the project?
You can get latest information about our project through our TG channel https://t.me/vegaswap and our twitter at https://twitter.com/VegaswapAMM
Security is at the forefront of all old and new projects, attacks are frequent and even with the best known blockchains, how does your project prevent this from happening? Do you plan to expand your business in the region?
yes we take care of the security seriously. We apply the industry best practice of security to our project. You can check our github for more information.
Which do you think is more important:
C. Token Price
If all of the above is important to you, whiich should come first?
I will definitely say community, since it's the true indicator of a successful project, but it would put ivnestors, and community equally
Could you share some plans for the upcoming year?Which part of the project are you most focused on right now?
for the upcoming months, we plan to focus mostly on the swapping protocol and staking
Many new projects make a good impression at first but are suddenly abandoned. My question is, how will you manage the project and the token to get a position in the market and become the best token in the crypto world?
Thank you for this great question. To explain everything it would be a long story. So here is my brief answer: the most important thing for any startup is to verify its revenue model, which can also be called: to find the market fit. With many years of experience working in finance world as well as crypto world and a talented team of developers, we are confident to deliver great product to solve the problem of impermanent loss as well as innovating the crypto space with cross-chain trading.
In summary, with an experienced team to implement our innovative ideas continuously. We will be able to reach the market fit and become one of the best in the DeFi world