AMA RECAP OF ESWAPPING HELD ON 14/05/2021
We held a live telegram ama session with ESWAPPING in our official telegram channel on 14th May,2021 and here is a recap for the same in case you miss the live ama session
Hi @mercin96_96 I welcome you on behalf of whole Dappcentre Official Community for an ama
Guest :- Hi Everyone :D Thank you for having me :)
Segment 1 – Host questions
So are you ready to start the ama session with the age old tradition of introductory questions ?
Guest :- I am ready, let's start :)
Q1 Could you briefly introduce yourself and your team to DAPPCENTRE OFFICIAL Community
Guest :- So hi again, I am Marcin, one of the founders and developers at eSwapping.io, I will be the speaker today but also take input from Piotr the Co-founder/Developer. We also have a third person of our team Filip, the UI developer on a call. We're very happy to have the opportunity to interact with a bigger community again through answering some of your questions.
That's great could you tell a bit of background how you got associated with Crypto and time since when you have been into crypto ?
Guest :- So I've been in crypto since about 2013, just learning at the time as a teenager, I've been interested in it ever since. 2017 helped me get through Uni thanks to crypto, I have worked on some projects along with Piotr, these were just purely tools to help us out with some trading by automating it. We created some tools in 2020 to use on Uniswap for ourselves and decided to finally share it with the world in 2021 by bringing it to Binance Smart Chain, that's how now we have eSwapping :)
Q2 What is Eswapping explain in brief along with its usecase ?
Guest :- eSwapping is a brand that is aiming at automated multi-chain trading, providing useful, safe platforms and tools for trader/investors. The usecase for ESWAP token is to simply hold it to have the ability to access/use all existing and future platforms/tools that we have to bring from the wallet that holds the ESWAP tokens, we also plan on adding incentives for the token as so far we've mostly focused on improving the software.
Q3 Can you explain your roadmap and mention in detail the important updates coming in Q2 like farms, premium features release etc.?
Guest :- So currently we're working on further functionality as you can see on our roadmap, we want to aggregate by allowing users to add in their exchanges of choice, this will come out once Elite tier is here in the near future. Elite tier will be in our premium features list as this will even allow for arbitraging between different DEXs, this is isn't the only premium feature that we'll have. Elite will require 500 ESWAP to be held on a wallet. We're also in the process of testing custom base pairs for the new update which will tick another box on the roadmap. In terms of pools/farms, we're looking kind of ahead into Q3 part of the roadmap for bridge solutions to actually be done in Q2. Then we'd like to really bring in the liquidity incentives as this will allow for cross chain liquidity for ESWAP tokens. We are also working with our Partner PolySafu on Polygon (Matic), our newest release will support this network and we're very proud to work with an already established project on Polygon to share some of our collaborative work with our communities.
:D we can't wait to release them but so much testing is being done still, we need to eliminate all the bugs.
Q4 Can you share your tokenomics In here and mention about locking of funds and any events planned to alter the tokenomics?
Guest :- So the breakdown of currently supply and any locks: The total supply is 926,038 ESWAP, the circulating supply is 786,738 ESWAP. There are 250000 ESWAP for future staking rewards,There is currently 150000 ESWAP in the staking, marketing, listing funds and 22815 ESWAP in OTC fund remaining, presale wallet still also has 50001 ESWAP left as we didn't want to hand over 8000 ESWAP to dxSale as a fee to protect our investors, these funds will be used to provide liquidity on bridges for ESWAP as well as used for liquidity incentives. 100000 ESWAP from these funds are locked for another 4 months leaving the current amount left 150000 ESWAP and that 100000 will be locked again. 2 Developers own 50000 ESWAP each, of which 20000 from each is locked for another 3 months, we plan on locking up again. We also plan on giving Filip 2500 ESWAP from myself and Piotr as he’s a permanent part of the team now, all these funds will remain public as they currently are. There are little tokens in circulation and more and more people are actively using our software which means they never get rid of the tokens, unless they don't want to use the software anymore, soon we'll have the incentives which will allow the people that aren't planning on using the software, still make use of their ESWAP tokens by earning more. We also allow borrowing of our tokens through DeFiPIE to be able to use our products while earning passive income on your collateral.
Q5 Can you tell how you differ from other projects means what’s your uniqueness and also tell us a bit about your launchpad scheduled to launch in Q3 ?
Guest :- Sure, so we think our uniqueness from other projects is that we're working on automated multi-chain trading, we don't want users to have to click and approve their transactions and submit their orders over and over again. Instead they can setup a price range they want to trade at and it's all automatic as long as they hold ESWAP, no additional purchases or fees, except the network transaction fee itself. We are a public team and we might not have put our full focus fully on marketing like the rest of the projects instead we went straight for releasing a product from the start and iterating on it and constantly improving it in order to build the best product possible for our community. The Launchpad we want to bring would be created with the idea to provide a safe platform for investors, this means we would KYC each project along with going through their tokenomics to ensure that investors will have a safe environment to invest in potentially valuable new projects.
Segment 2 – Twitter questions
Now are you ready for our next segment which is twitter segment ?
Guest :- Great, im ready :)
Q1 Can you tell a bit in detail about auto trading and could anybody do it or there is a minimum criteria ??Additionally also mention a bit about your security and audits completed??
Guest :- That's a good question :) So I think anybody that already knows to buy low and sell high, has their price targets for specific entries and exits could potentially use this software, we recommend to try out the trading on a new wallet with some ESWAP on it just to get familiar with everything, we have a tutorial on youtube and on gitbooks.
I'll answer the audit question now
In terms of security and audits, we can get a contract audit if people feel that it's necessary. In terms of security of the software, we will do a security audit once we have a fully stable release that we feel won't need anymore updates. Currently we add new stuff to the code everyday, change things etc. We actually refactored everything for the new release. This means we'd need a new audit almost everyday since the code would change a lot after audit, we'd feel that the audit would not be done to the full standard as the code still changes.
Q2 Can you tell a bit about governance and how you value the holders and also your community?? Could you explain the role they play in decision making??
Guest :- So currently we value all input from our community, a lot of the suggestions have now become reality now in the software. We continue to add features that our community wants to see. In terms of governance such as making a big decision for example tier pricing change. If say the BASIC version becomes too expensive for more users to join. We would do an ESWAP holder only type of vote, to see if they want this change and how much of a change it should be, if this situation ever appears, that's how we planned to deal with it.
Segment 3 – Community questions
So now are you ready for the next segment where you could address our community and answer their questions? Are you ready for community segment?
Guest :- I'm ready for the community segment :)
Q1 What staking options will be available for those who still want to use the bot despite transferring $ESWAP out if their wallet?
Guest :- The staking options would be through liquidity pool. In this case instead of holding ESWAP you'd be able to use the bot by owning a specific % of the total liquidity pool share.
Q2 How does eSwapping App will allow user to track prices of multiple tokens from BSC and to place trade orders for multiple tokens at the same time on PancakeSwap?
Guest :- All the data is coming straight from the blockchain, the software interacts with the blockchain directly through executing functions on the smart contracts, this allows for the most reliable data to appear in the bot even before it's reflected on the PancakeSwap User interface. Keep in mind the prices are based on the liquidity pools so using different liquidity pools for same tokens may result in different pricing results, therefore it is always based on the liquidity of a specific token coming straight from the PancakeSwap contract.
Q3 Any mempool functionality planned?
Guest :- We do plan on that in the future, first we're rolling out things on our priority list and then we'll move on to such exclusive premium features like mempool sniping :)
Thnkz a lot for your time we finally came to the end of this ama session anything you would like to conclude with??
Guest :- Mercin | eSwapping.io WILL NOT DM:
So I'd like everyone to come and check out eSwapping, we are hoping for a release this weekend if everything goes to plan, with this release we will allow users to use the PRO version by holding 100 ESWAP in their wallet, this will run for a week as a discount.
This means users will require 200 less ESWAP for a week to test out all that PRO has to offer.
Thank you all for having us today, it was a pleasure! :D