We are pleased to announce our next AMA on February 21st, 2021 at 04:30 PM UTC Time: Satoshi Club x FoxSwap
⚠️Click to see the hour
⚠️Total Reward pool: $500
⚠️Requirements:
👉 Join Satoshi Club Telegram group
👉 Join FoxSwap Telegram group
We will have the following structure:
Part 1: 100$ /6 users – We’ll select 6 questions from the community. A user can post maximum 3 questions. 6 Questions will be selected from our website – please submit your questions in the comments section of this post.
Part 2: 100$/10 users – Open chat for 120 seconds. You can post Max 3 questions. FoxSwap Team will select 10 questions and answer them.
Part 3: 300$ – A quiz about FoxSwap
For more details:
FoxSwap – @FoxSwap_Community
Satoshi Club – @satoshi_club
Russian – @satoshi_club_ru
Spanish – @satoshi_club_spanish
why an audit on defi coin is so important. what the reason?
1. As far as I know, FOXSWAP is 3rd generation DEX. What is DEX, and what is different from Gen1 DEX or Gen2 DEX?
2. Looking at the economic model of the FOX platform token, it is somewhat complexly constructing 20% Mining through transactions, 20% Mining through liquidity, 24% Mining through invitations, 10% Early Investors, 15% DAO Ecological Fund, 10% Creation Team, 1% AirDrop, etc. What is the distribution logic of the token and I’m curious about the use case.
3.FOXSWAP’s team will operate as a FOX DAO with DeFi lovers, and the members are from the U.S., China, Korea, and Singapore, and have a deep understanding of DeFi because they have a lot of experience in developing Ethereum networks and operating the Defi project. What are the conditions for being a DAO member?
Due to the explosive gas cost of Ethereum following the growth of DeFi, many projects are releasing Layer 2 protocol DEX recently. What are the advantages of FoxSwap compared to other Layer2 projects?
Also, it says “slippage only when necessary”, which I am curious about “Necessary” case.
Recently, many projects use the ecosystem token as a governance token in the future. In case of FoxSwap, do you have any plans for this part?
What’s next partnerships with Fox swap?
Where we can see road map?
Is FoxSwap using its own Layer 2 technology?
How do you see FoxSwap compete with others Dexs if they adopt a Layer2 solution (like Optimism or polygon).
Thanks, much excited to discover FoxSwap. I’m not using any Dex due to high fees.
I wonder why it’s Fox Swap among many animals.
You have said that FoxSwap which is a DEX aggregator on Ethereum is designed to scale transactions with reduced fees. Uniswap, SushiSwap, 1inch and other DEXes on Ethereum which offer similar service have been unable to provide solution to the problem of high gas affecting the Ethereum blockchain. How will you solve this since Ethereum will still be needed to power FoxSwap activities? Also, if all the orders are not executed individually but are aggregated before they executed, how scalable or fast will this be? Won’t this result in unwanted delays before transactions are executed?
On the foxswap roadmap you mentioned in Q4 2020> Testnet beta V1
And Strategy development
. in Q2 2021
Different loaning pools and Launch mobile app and Decentralization of FOX governance. So I want to know the advantages of testnet for the foxswap project and what is the strength of the partnership with ICO Pantera — Korea’s ?
FoxSwap, $FOX, Total supply is 100,000,000 but after listing on exchange, only 3,000,000 FOX tokens (which is a paltry 3% of the total token) will be released. Will this be enough to cater for the demand of your community as you witness expansion? What will happen to the remaining token and how will they be minted or released? Similarly, 30% of your profits will be used to buy back $FOX and burn it permanently every month. Don’t you think this is very huge considering that only 3% of your token will be in circulation? For how long do you intend to continue with this type of burn rate?
FoxSwap will be making use of the Time Weighted Average Price, TWAP Oracle which is similar to the price oracle model used by Uniswap V2. What are the weighted variables taken into consideration in the development and deployment of this oracle and how are they adapted to fit well into FoxSwap protocol? Also, how effective is this oracle module and how resistant will it be to price manipulation or primary vector attack from bad actors?
Secondary Markets> Loans, and are all tokenized via Non Fungible Tokens (NFT) that allow the trade/creation of secondary markets. is this means that the loans will be tokenized into NFT Tokens and to be traded on other Dex exchanges?
Each FOX token holder can stake their FOX tokens to vote for the protocol parameters . Liquidity providers can participate in governance of their pool directly with their LP tokens. The weight of each user’s vote is proportionate to the amount of tokens they have staked.What are the benefits for me as an investor?
Fox Swap can average the price of a token by contacting other exchanges, can this action significantly affect the speed of a transaction?
I have seen in your RoadMap that this year you are going to partner with other projects or companies, can you give us an advance? Do you have a specific project that you want to associate with?
FoxSwap is a layer 2 scaling solution on ETH platform that can combine other DeFi platforms such as Uniswap, Sushiswap and others, talking about scalability, is there any virtue that FoxSwap will take advantage from the new ETH 2.0? Is it in your plans to improve your features with this new technologies?
In your whitepaper it’s mentioned that FoxSwap is designed to become an easy-to-use exchange, some new users might be confused about terms like “gas efficiency” and “slippage reduction”, is there any guideline that FoxSwap offer to the newcommers to start using your utilities efficiently?
FoxSwap gives the possibility to Dapps and wallets of earning FOX when they attract users and trading volume to the platform. Can you tell us what is based on the amount of FOX earned by referrers? Is there a limit of earnings per referrer?
You mention that it’s important for FoxSwap that the platform is easy to use and understandable for everyone. So can you tell us how you achieve that? Can you give us examples of your way of making sure that the users don’t have difficulties?
FoxSwap also offers a Lending system. Can you explain more about it? Is the FoxSwap Lending similar to other platforms’ or do you include new features?
Are you claiming “Traders have the right to change fees as they expect faster easily”? But as I understand, in this case the processing time of the transaction will change? I choose the more expensive commission, then my operation goes quickly. And if I choose a commission cheaper, then I will have to wait a while. This is true?
The cryptocurrency market is unstable and we often see a rise or fall in the price of various coins. What are your plans to increase or at least maintain the stability of the Fox token price?
you say that FOX governance tokens “will be managed in separate chains and configured with some important parameters”, but if they are only part of the ETH chain? How will they be in different chains? and what will those parameters be?
The large gas rates consumed in DeFi swaps have motivated many users to return to IEO CEX, will FOXswap help control those rates that continue to attract users to DeFi?
Both Uniswap and SushiSwap have had reliability and security problems, since many users have been scammed in it with scam tokens, how could Foxswap be more reliable and secure than them? limit the tokens they list?
I know that FOXSwap is part of ERC20, but will it be possible at some point, thanks to the layer 2 protocol, to be able to connect to swap with tokens from other chains?
I have heard many of the benefits of the Layer 2 Protocol, but really very few platforms implement it in their projects, is it because it is not compatible with all? Is it have a big problem or is it that they do not know their potential yet? could you explain it to us?
FoxSwap recently partnered with ICO Pantera, but was this partnership to attract more Korean users or to improve the speed of each transaction on their platform?
You say that “FoxSwap will have features that will help you operate more effectively”, but could you detail each one of them, and tell us which ones make the difference with respect to the competition? Please!
Could you really detail the process that you will implement before listing? How will this process of the tokens be moderated, will it be an analysis while it remains blocked?
how much will be the% of fee reduction that the FOX token holders will enjoy? and how many tokens must have minimum?
Is FoxSwap a fork of Uniswap just implementing Layer 2 protocol? or are they totally independent platforms?
I understand FoxSwap is only looking to expand DeFi, but are you planning to list FOX on Cex exchanges? which will be the first to list it?
About the fees, there is a 0,1% fee for swapping tokens on FoxSwap, does this fees are part of your governance system? How do you reward the liquidity providers? And is it possible to pay for these fees with your native token $FOX?
It is in your roadmap the launching of the FoxSwap app on this first quarter of 2021. How will be integrated the $FOX token on this app and what will be the advantages of using it for making transactions?
If the listing fees on some exchanges are quite high and go through a lot of processes. How does FoxSwap’s flat transaction fee manage to be 0.1% lower than any other exchange today?
How is it possible that FoxSwap charges zero listing fees that affect users?
Currently, there are many fake tokens created for malicious purposes. How using FoxSwap will minimize trading risk?
Currently, centralized exchanges are always at risk of being attacked by hackers. There are many exchanges that have been hacked and forced to shut down due to the overwhelming effect in addition to the many scams. How do you guarantee that in FoxSwap none of these problems will happen?
According to your whitepaper, the price impact fee is a dynamic exchange fee that is charged in each swap and depending on the impact on the price incurred.
How during the last six months has FoxSwap validated its thesis by decreasing profits for arbitrageurs and increasing profits for liquidity providers? Would this affect FoxSwap’s economics?
On your Roadmap, one of the list I saw is Marketing Partnerships. We all know that one of the way a cryptocurrencies and crypto projects will succeed is through the creation of strong products and services that are adopted by people all over the world, and to create those products and services, crypto projects will need to create the right strategic partnerships right? So can you tell us your plan about these Strategic Partnerships of yours and how is it going now so far?
Foxwap Platform will have features helping our trade more effectively right? So what are the Key Features of FoxSwap that will help us interact with the best DeFi platforms? Also Is it profitable to do exchange operations and to supply liquidity on FoxSwap? If yes, what are the benefits we can get from those activities?
FoxSwap is a layer 2 scaling solution built on ethereum platform and you solves the ongoing issues that have been deterring people to start using the DeFi protocols. So how will FoxSwap solves high transaction fees, low liquidity, high slippage, and transaction is slow that user experience is not good? Also how are you unique and different from the existing decentralized exchanges now out there?
Well, your tagline which stated that FoxSwap is”the most trusted & secure DeFi platform” seems to be not so believable since there are many platform that also claim to be like that. Hundreds and almost thousands of defi platform existed already in the market, so for clarification, how can you prove that FoxSwap is the most trusted and Secure Defi platform? What is the best evidence we can see to it? Thank you
Currently, decentralized exchanges are on the rise. Daily trading volume at Uniswap amounts to over $ 1 billion. Transactions on ethereum are congested, transaction fees are getting higher and higher, … it is inevitable that a reality will emerge to provide solutions to the problems of crypto exchange. what things can we expect to see for foxswap to make changes to decentralized exchanges?and what solutions does foxswap come up with to address the problems and issues facing of the crypto industry and exchanges?
“Staking is one of a great features of one projects or platform to earn without losing our funds”Almost all the new project built today has Staking Program..What can we expect about your staking program and what staking options are available in FoxSwap platform?How many pools does your platform have for the users and investors to participate?
FoxSwap have a “decay period” which is a unique feature that protects traders from front-running attacks and prevents arbitrage traders from easily extracting value from pools. Can you explain the mechanism that sorrounds this feature and why it is unique?
Interesting that FoxSwap has deployed 2 types of governance; the Pool Governance and the Factory Governance. Why the need to create 2 separate governance bodies and what will be the role of each type? Which holds more weight or power?
1. Many projects do not disclose on the homepage for reasons of anonymity. However, in the case of fox swap, it seems like a project that gives credibility because the team members’ photos and history are displayed. If you refer to linkedin and website, it shows that I have been working as a blockchain developer since 2015 and have been working as a foxswap co. from February 2020 to now. By the way, can I know what project you worked on before working at foxswap? I’m curious because there is no information about my experience in LinkedIn and the contents are too comprehensive on the homepage. If you worked in the blockchain industry, I’d like to know specifically what kind of project you worked for.
2. Matrixes to be recognized for the value of tokens are very important. Foxswap carries out a total of 3 sales steps. The medium published on December 5th last year has 300 and 200 ethritums assigned to the private and public rounds, respectively. By the way, the website says that there are 400 and 400 sales for both private and public rounds. Which one is right?
3. Recently, many defi use synthetic assets to supply liquidity. In the case of snowwap, which has risen a lot, we can mine snow tokens using liquid-supply LPs such as curv and yeran finance. The second quarter 2021 roadmap for fox swap shows a plan for synthetic assets. But I don’t think there’s anything specific. Which platform are you planning to use for synthetic assets? There are various things like compound, curv, etc. I wonder where you are thinking.
1. In defi, not only hacking activities such as flashloan attacks, but also trading with exchanges for capital gains. As a result, gas prices have skyrocketed on the Ethereum network. To prevent this, Oracle’s role is to reduce the market gap with other trading platforms. In fox swap, there exists a twap Oracle, which has been extended to broadcast prices every 30 minutes. But the market price keeps changing in a very short time, so don’t you want to reduce the term that reflects the price? And twap Oracle looks like its own oracle, so tell me what’s the difference from other Oracle projects such as chainlink.
2. I understand that the current homepage is locked so that it does not work after the last testnet. I clicked on the github item at the bottom of the homepage, but it’s also locked. You can’t check anything when you enter the github. In github, there are a lot of things that we worked on in the team. As far as I know, the audit contents are also uploaded. Please let me know how much the audit has been received and why the code is not disclosed on the github.
3. According to the white paper, it shows that you buy a fox token and burn it using 30 percent of the revenue from the platform. I think incineration after purchase is desirable to enhance the value of tokens. By the way, how much are you planning to burn? Please let me know if you are planning to continue without any restrictions such as the number or time limit.
There are a lot of DeFi coins coming out now.In addition to reliability issues caused by unverified DeFi-related coins, there is a high risk of investment due to too much volatility. Also, if it’s a new coin, not a well-known DeFi coin, it won’t be easy to be more cautious and make an actual investment.
I wonder if there are any ideas and solutions to these problems.
The FoxSwap Founders / team are public and it is great to see a DeFi project team like yours. But may I ask why reveal your identities when you can be like other projects that remains anon till now?
Currently, centralized exchanges are always at risk of being attacked
by hackers. There are many exchanges that have been hacked and forced to
shut down due to the overwhelming effect. The next risk could be the scam
user, etc, which affects the property of all members because he holds the
private key. So how are you planning to secure your exchange from attacks?
I was interested in the revenue model — Mining through invitations. To be honest, this is the first time I’ve seen this on DEX. Please tell us more about how this model works?
-What is meant by – ecological contribution of computing power?
-The scheme involves first-tier holder + second-tier holder (are these invited referrals?)
– My invitation is the earnings on all operations of the referral, each time when he will make an exchange?
Partnership with Pantera ICO means that you see the Korean market as a top priority, what will this partnership give and who will determine the further marketing line of FoxSwap in Europe and other continents?
How can we get FOX tokens and what do we have to spend on your platform?
Beside Fox Swap Project, there are other project like SushiSwap, Uniswap, 1inch that have
similar feature.So can you tell me how Fox Swap try to survive in this competition of blockchain market?
are there any special feature or strategic marketing plan for Fox Swap to make it reach top market?
In the roadmap you mention the addition of Synthetic assets and derivatives. What is the reason for such innovations?
Foxswap will synthesize liquidity from other DeFi platforms such as Uniswap.
as I know secure big liquidity is really important for Dex Exchange. So what are Fox Swap plan about
secure liquidity and how does it work ? and is there any advantage for HOLDER?
After read your site, i learn that you have unique feature name “Secondary MArket” that possible make
the loans tokenized into NFT Tokens and possibly allowed to be traded on other Dex exchanges.
can you explain more about this, what is the use of NFT token beside traded on Dex Exchanges?
Do you have any other feature regarding NFT?
What is Foxswap’s ultimate goal? The year 2021 has also begun. What is Foxswap’s biggest goal this year?
1.
foxswap is a latecomer compared to the existing swap platforms, but it seems that a special marketing strategy is needed for the influx.
I would like to know what kind of marketing strategy you are planning for user inflow.
2.
foxswap conducts monthly incineration to increase the value of fox tokens.
However, it is difficult to place much expectation on the increase in the value of fox tokens by burning alone.
Besides incineration, I would like to know what system you have to increase the value of fox tokens.
3.
The biggest problem with swap platforms is that swap costs are too expensive.
I would like to know if foxswap has a solution to the cost of swap.
Q: How will you do if the price of ethereum gas gets higher which causes users to have difficulty making swap transactions on your FoxSwap & are there any plans for you to list $ FOX to an external exchange?
How you ensure us about security of your project what if your project will hack
What responsibility you will take..?
What is the earning strategy on FoxSwap? What incentives do long-term liquidity providers receive?
buyback, burn, rebased, are known strategies to honor investors and build confidence in the project. Which of these strategy FoxSwap would you use in the future?
Q1 How do you plan to spread awareness about your project in countries/regions where English is not spoken well like Indonesia, Vietnam, India, Bangladesh and Iran, do you have local communities for them to make them better understand about your project?
Q2 Many new projects initially developed well but were suddenly abandoned, how will you manage your project to get your position in the market to be among the best projects in the blockchain world
Q3 Smart contracts are vulnerable to bugs and even recently three big new Defi projects were victims of this costing investor’s funds, how efficient and secured is your smart contract, did you ever audit it via any external party?