We are pleased to announce our next AMA on April 15th 2021 at 01:00 PM UTC Time: Satoshi Club x PorkSwap
⚠️Click to see the hour
⚠️Total Reward pool: $2000
⚠️Requirements:
👉 Join Satoshi Club Telegram group
👉 Join PorkSwap Telegram group
We will have the following structure:
Part 1: 150$ /6 users – We’ll select 6 questions from the community. A user can post maximum 3 questions.
Part 2: 150$/15 users – Open chat for 120 seconds. You can post Max 3 questions. PorkSwap Team will select 15 questions and answer them.
Part 3: 1700$ – A quiz about PorkSwap
For more details:
PorkSwap Website – porkswap.finance
PorkSwap Telegram – @porkswap
Satoshi Club – @satoshi_club
Russian – @satoshi_club_ru
Spanish – @satoshi_club_spanish
Can you tell us about porkswap platform features? How can users use porkswap? What are the platform fees? Is there any plans for releasing mobile applications?
Can you tell us about $PSWAP token holders benefits? Where will the $PSWAP token be listed?How to participate in the $PSWAP token airdrop? How 50% reserved tokens will be distributed? How will the token sale funds be used? How are prices determined?
PorkSwap will implement an Insurance Fund policy which will cover liquidity providers in case of impermanent loss. This is a welcome development as IL is a major problem faced by LP providers. However, from your token distribution, no token is reserved for insurance. How will the insurance fund be sourced? Will it be provided using $PSWAP or you plan to contract this to external insurance providers? Are LP providers required to pay additional fees to access this function? Also, who are the ones to manage and govern the administration of the insurance fund asset?
PorkSwap will implement an additional function of futures/leverage trading in addition to spot trading feature. Since future trading is more about betting against pricing, this means that there is need for you to adopt a reliable pricing oracle. I have read that you will be creating a Customized oracle on Binance Smart Chain to fetch real-time pricing. How will this oracle be operated? How is it designed to be interact with centralized and decentralized trading platforms in order to generate a trustless and trustworthy data which cannot be manipulated by the protocol or futures traders?
After listing, you planned to airdrop 6685 $PSWAP to 1337 participants that have traded on Pancakeswap at least one time. Since there are numerous wallet that interact with pancakeswap daily, how will you select the eligible participants to get this airdrop? Is it going to be distributed among holders who joined the already ended presale and have traded on Pancakeswap prior to listing or it will be for the first 1337 participants who traded other token for $PSWAP as soon as it list there?
On the Binance Smart Chain, Staking is very popular to attract investors. But I don’t see the PSWAP Token being allocated for that? do you have a plan for that?
The feature that I like best on PorkSwap is Future Trading. What I want to know is how is it different from Trading Futures that most exchanges like Binance have etc.? How much leverage is provided? and is the Liquidation price bigger ??
You airdrop with the PSWAPBOT, where you can earn 5 PSWAPs by completing certain tasks. And then earn PSWAP through the referral program. I went through all the points and earned 5 PSWAPs, thanks. But I have a question. If I don’t use the referral program, can I use my reward? I have passed similar airdrops in Telegram many times and have not received a reward in any of them. Completing assignments becomes useless if the user does not use their referral link.
Governance Platform launching will take place in 15 days! Congratulations!
But I have a question. What are the functions and features of the platform? Who will be able to take part in the management? What questions and proposals will be put up for voting?
There is a Lottery on your roadmap. Could you tell us about this? When will this lottery take place, who can take part, what are the conditions and what are the awards? What other activities do you have planned for your community in the near future?
As we well know PSWAP has a fixed supply of 1,000,000 tokens that will be used for the governance and rewards of the platform. How is this tokenization distributed? Do you have reserved tokens for bug bounties, white hat hacking? What fraction of the supply is destined for marketing campaigns?
As we well know, the cryptocurrency market is evolving daily and futures trading is about betting against prices. What tool does PorkSwap implement to get prices in real time? From which platform will the prices be obtained?
Currently there are many exchange platforms such as Pancake or any other SWAP that work with an inflationary model, which means that platforms such as Pancake mint 750,000 CAKE tokens per day, that is correct per day, which makes it very inflationary more than that of FIAT. What is the deflation mechanism implemented by PorkaSwap? How many times a year does the PSWAP token deflate per year?
As we well know, there are exchange platforms such as Pancake or any other SWAP that work with a higher inflationary model than that of a FIAT. What is the deflation model that you offer traders and lenders? What percentage of interest is generated to lenders and merchants? Is there a risk of an increase in the interest rate?
The problem with other decentralized loan pools is that as the pool grows, the chances of my funds being used there are less. Does the PorkaSwap protocol offer a solution to this problem? How do you prioritize the use of funds?
It is no secret to anyone that when users have money in their banks, they take advantage of the money to ruin them while they spend and end up rewarding the user with crumbs. What negotiation terms apply to benefit users? How does the leveraged trading you offer work? What features does this tool have?
Out of a total PSAW supply of 1 million, you lock in 500,000 for the community. And I see the community allocation is higher than the other allocations. How important is community to you? How will you involve the community in building PorkSwap?
Many traders don’t understand the concept of futures trading, especially beginners. How will you give an understanding of futures trading? especially regarding the high risk in futures trading when compared to spot trading?
$PSWAP IS AVAILABLE ON ANY OTHER EXCHANGE BESIDES PANCAKESWAP, IF SO, COULD YOU PLEASE LET ME KNOW WHERE IT IS CURRENTLY AVAILABLE?
REGARDING THE DISTRIBUTION OF $PSWAP TOKENS, HOW IS IT DIFFERENT FROM OTHERS, HOW EXACTLY IS IT DISTRIBUTED AND WHO DO THEY PRIORITIZE TO BENEFIT?
DO YOU HAVE ANY KIND OF SUPPORT MATERIAL THAT CAN BE PROVIDED TO NEW USERS INTERESTED IN THIS PROJECT REGARDING THE MANAGEMENT OF THE PLATFORM, THE VISION AND MISSION OF THE PROJECT FOR YOUR COMMUNITY?
After the great financial crisis that shook the world in 2008, regulators and large institutions are not trusted enough to have power over control of global finances. How does PorkaSwap compensate for user trust? Who is at the forefront of the big issues of the project when it comes to governance? Is this also in charge of governing the rewards?
Comparing a bit the trading protocol of PorkaSwap has a way of operating very similar to that of Uniswap, SushiSwap and Pancakeswap. Do they have any difference between them, because I could not notice it? Is the PorkaSwap protocol flexible? What is the PorkSwap Protocol based on to deliver FIAT Worldwide Protocols?
Porkswap marginal price at time t indicates that dividing the reserves of a given asset ‘a’ against another asset ‘b’ gives us the value of the Price Oracle. Compared to other Price Oracle. How do you intend to maintain and sustain this Oracle functionality. In case of price manipulation; how will this be addressed against future occurrences.
You are offering Spot Trading as the foundation for offering FIAT financial protocols, this creates a huge difference among other spot trading protocol like Uniswap, Sushiswap and others … how are you planning to merge democratization and decentralization with the FIAT financial world?
From what I could understand, your main deflationary mechanism is in the buy back of PSWAP tokens and you estimate a deflation of 30X in the first year of operations, do you also plan to burn your tokens eventually? What will make this mechanism really efficient?
What can I do with PorkaSwap? What can I use it for?
At this moment I have a great doubt that at this moment is disturbing me.
What benefits does PorkaSwap have for the user?
Advantages of PorkaSwap?
As we well know that PorkaSwap guarantees the security of your platform, from DNS to Smart Contract, it is protected with
cutting edge technology.
Can you elaborate on this?
PorkSwap decided start with BSC to become an “AMM leader” on this network, but currently there exists so many good AMMs on this chain, like SushiSwap and PancakeSwap, so can you tell us what are your “weapons” to affront them a be the first option to traders?
We are used to see food or animal names with crypto projects. So, why have you preferred Pork? Is there a specific reason or message that might empower the project concept? Additionally, Pork is not liked in some religions; do you think this can affect some part of community negatively and result lower demand on your project?
Your website says clearly that apart of the typical spot trading related to AMMs, Porkswap also support leverage markets, so can you tell us which ones do you support currently? And which ones will you add in the way?
⭕️ I have understood that Porkswap has an insurance fund, so can you tell us what is the purpose of have these funds stores? Is it a “break glass” fund?
On your website, you talked about launching the Governance platform. What date and time will the launching start and on what platform? And can you tell us how the community can actively be involved in the governance of the project.
Every dex has a Fee system in a way that encourages people to use the platform. Can you share with us the trading fee on the spot market, margin market and the interest rate on leveraged funds in the future market?
One of the features of porkswap that drew my attention is the “Insurance fund”. Will the insurance fund be available to all users and traders on your platform? How and at what condition can i access the insurance fund? Are there any requirement?
You announced a airdrop to be distributed at launch of the token. Will that be the only way you would distribute your token? Will there be any form of staking or minting? Can you tell us about the token economics; how the value of the tokens will be maintained? Will there be buyback, burning or any other form of deflationary method?
Presently, i can’t find a means to access the Porkswap trading platform. Have you launched the DeX or is it ready for use to be launched soon? We are eagerly waiting for the platform. When will you launch it if you haven’t? Or can you share a link to the DeX if it hass been launched.
You’ll encourage your users to provide liquidity to the lending pool just like users hold money in their banks, what they don’t tell us is what risks are associated with this? Can I withdraw my assets from the pool at any time without penalty?
PorkSwap will create a customized oracle on Binance Smart Chain, I must ask, what is the main purpose of this oracle and if it will exclusive for the PorkSwap functionalities?
Looking at the comparison chart between Uniswap, PancakeSwap and PorkSwap, I noticed that something important is missing in PorkSwap compared to the other Swaps, and this is the amount of Cryptoactive they have, we know that Uniswap has super high gas rates but Uniswap is characterized due to the large amount of crypto assets it has to trade. So, I understand that PorkSwap is a relatively new project but speaking of the medium and long term; Are you planning to add a wide variety of crypto assets to Trade on your exchange? And unlike your big competitors, do you think that PorkSwap could be one of the most used exchanges in the future?
Speaking of leverage in PorkSwap, you mention that within tokens available to leverage are ETH, Wrapped BNB, ADA, BUSD-T, DOT, XRP, UNI, LTC, LINK BCH and USDC. My question is, as time goes by, will they integrate more tokens that can be placated? What is the maximum leverage that users can use within PorkSwap?
I understand Liquidity providers will be incentivized in $ PSWAP for their participation allowing them that the LP tokens can be bet for an ARR of around 125%. But how will PorkSwap achieve that its token has a growing value from its launch until the next few years? What are more strategies that you will use so that users can trust to bet their funds within PorkSwap?
Governance is important to maintain a solid system and a large community, how governance acts in the DeX system for futures, What kind of changes can we make token holders in an exchange that has leverage and is decentralized this is not very common, every time governance would be done ?
As will be the level of selection of Tokens included for leverage, between the ecosystem #Defi the alcoint popular , you would have the support over the levarege for all these products both spot/futures and at the same time it add a system of Staking/Farming under the tutelage of his product utility, we would have additional leverage your tokens, or to make him hold in the platform, in addition it also plans to integrate Options within your Dex in the future?
With a fixed supply of 1 million tokens, and only 200,000 in circulation, $PSWAP token will increase in value overtime since it’ll be scarce and the team will buy back and burn tokens from platform revenue generated through spot and futures trading.
Only $PSWP token increase? How many token lunch?
50% Liquidity Rewards (Locked)
10% Growth Hacking
10% Liquidity
10% Team – locked
20% Public Sale
This is the third ken distribution formation.
I am not clear about this distribution.
Please explain this process that you maintain.
Are Your project don’t distribution % distribution?
The economy in the world is hampered a lot because COVID 19, as a crypto business, does it affect Porkswap negatively or positively and are you still on the right track to achieve the Porkswap target as stated in the road map?
Which one of these aspects important for you?
1-Increasing Token Price&Value
2-Empowering Platform Development
3-Building Community Trust
4-Expanding Partnership Globally
In what order?
Bringing forward the true meaning of De-Fi that’s decentralizing current financial products, bringing derivatives through futures trading that can increase returns on profit. Buy long or sell short.
This year NFT not only promotes the concept of “non-homogeneity” but also shines because of the combination with DeFi. So you have any specific plans for NFT+DeFi?
While other projects are getting DNS hijacked, we ensure the security of our platform from DNS all the way to Smart Contract are state-of-the-art secured.
My question is how to ensure the community security? And how they safe frim hackers?
How will Porkswap prevent deflation on their tokens?
Do you support cross-chain swaps?
I heard of your private sale took place on the 28th of last month congratulations on that, how was the turn up. What is the hard cap and soft cap and how much was sold during the private sale.
In your platform I figured out that when we provide liquidity, it make us a lender to the lending pool. What are the kind of asset we provide liquidity to on your platform and what are the advantages of providing liquidity on your platform than saving in fiat banks nowadays.
I read of the brief explanation of your product in bloomberg, and there is where you mentioned being a major disruptor in defi space. I will like to know the place you have disrupted since you started and more places you plan to disrupt as time goes on.
You said in you tokenomics that 100,000 tokens will be reserved for bug bounty, white hat hacking, airdrops, and marketing campaigns. I will like to know when you plan to start the white hat hacking and how will the eligibility be like.
In PorkSwap you plan to use Spot Trading as the foundation for offering current FIAT world financial protocols and decentralized fashion. What are these fiat financial protocols and how do plan to utilize these fiat financial protocols without disrupting the crypto financial protocol.
Making the PorkSwap platform fully community governed is very good, but basically i will like to know the requirements it takes to join the part of community that governs the platform and what are the rewards you give people that governs the platform.
Website mentions that the trading will only happen when there’s enough liquidity on the spot platform for each token. What are the liquidity limits for the trading? How do you plan to prevent the rugpull situation when liquidity is drained and users can no longer sell their tokens
You have a great idea of the insurance fund protocol to cover liquidity providers in case of impermanent loss. Can you tell us more about how this system works? Will it be automatic or users will have to track the loss and apply for compensation manually?
While most platforms take to minting their tokens through various investment products to generate liquidity, PorkSwap is taking a rather decentralized approach to this in order to sure up liquidity and increase the value of the $PSWAP tokens to over 30X within a year by burning 10% everyday through the revenue generated from the platform. For how long will the token burn process continue, is it just for a year and what other features does PorkSwap provide other than token burn, that helps to increase the value of $PSWAP?
We can see Many defi projects are eager to release a product with a serious flaw in the smart contract. Have you performed a third party audit? Do you think your system is sufficient to withstand hackers and hacker attacks?
You say on the white paper “we encourage community to provide liquidity to the loan pool “waw is great, so can you explain to be called community driven? which community can participate in decision making
Excited to participate in your airdrop! Unfortunately I have not found the twitter post with the form to provide my wallet address, is the airdrop still in progress? Tell us how Satoshi clubbers can join in on the fun?
“Constant product formula”. Can you explain what this formula is ?, what are its advantages compared to other formulas? Have you tested the effectiveness of this formula yet?
I see in the article “Using futures as the first financial product offering (FPO) we encourage the community to provide liquidity to the lending pool just like users hold money in their banks (while banks screw them up by making a lot of money on their money and rewarding them with almost nothing).”
So can you tell me the details of the benefits or rewards of the trader and the lender? Is there more security than that of the bank?
how many percentage the futures pool tend will get on yearly pools earnings?
Using PorkSwap’s governance platform, token owners will have the ability to create polls and vote on the changes they would like to see on the platform
these can be anything from changing algorithms inputs of how the platform generates revenue to the modus operandi. Can you explain how does Porkswap governance being practice in your platform? Is there any minimum amount of $PSWAP to hold to be able to try those privileges given to token holders? If token holders have those right in your platform, what maybe the impacts that it will brings to your network? What is the responsibility of Porkswap team behind those governance to token holders? Thank you
With information gotten from your official website, I noticed that PorkSwap provides a lottery feature to investors and the community alike by gambling the extra tokens that has been made by these investors for the purpose of providing liquidity, with a chance to 100X their investment. Is the lottery programme open to all irrespective of the amount and value of $PSWAP tokens one has, how are the lottery points allocated to participants and how are winners chosen considering the fact that competition would be rife partly due to the enticing price offer?
You started your pre-sale this morning around 7:00 UTC. Well, i bought a little a d i want to get some post information. How many pre sale rounds are going? When are we going to get PSWAP? For how long will the token be locked and what will be our reward for holding?
In Porkswap,members of the community have all the power in their hands to make desirable decisions and reforms on the platform, and bring useful ideas to the table. Why does your platform give this kind of right to your community? Is this power is open to anyone in the community? For this powers given to community ,how it will be implemented and be applied? Thank you
PorkSwap governance platform the users / tolenholders be able to create polls and vote for protocol changes that include changing the way the platform operate, changing the way the platform generates revenue, changing the incentives. At this early stage of the project, are you going to push through and give the community the power to change the system or you will implement it after PorkSwap operation stabilize?
To celebrate the launch of PorkSwap Protocol, 6685 PSWAP tokens will be distributed to lucky 1337 participants, who have traded at least once on Pancakeswap. With many users eligible for this airdrop, how will you choose 1337 participants? Do you still accept participants for this airdrop event?
PorkSwap offers its liquidity providers Lottery. The users can gamble the extra tokens that they made by providing liquidity. Do you allow the lottery to the other non-LP users too? How often the lottery draw will be?
I understand PorkSwap want to bring financial product in decentralization. But can you give reason to us why did you choose to build on BSC chain not in other like Polkadot or ETH? Do you have plan to do bridge or multichain in the future?
As a DEX trading platform, can you tell us how is the calculation transaction fee for every trade that happen in PorkSwap platform? And i read you will also have buyback and burn token, can you describe what will trigger buyback and burn for your token, and how much of token will be burn?
I see there are so much new project arise and going well for short time but suddenly they cant maintain the project and become not sustainable. How is your way to make PorkSwap become great project and keep sustainable in blockchain industry? What is PorkSwap’s effort to make it attracting for new users and investors?
I see that PorkSwap still on early stage, can you describe about PorkSwap team and about some of their background? Are your team anon or public, and how do you convinced people that your platform are safe to use also have no error and hacks issue?
There is a insurance fund for to cover liquidity providers in case of impermanent loss. This will be a great feature for liquidity providers and will attract more people to adding liquidity for sure. Where will you get those funds? As I see on your tokenomics there is a 10% Growth Hacking reserved tokens. Are you going to use that fund as a “black budget” to cover investors and liquidity providers? And for the governance of the PSWAP token holders, can they block this insurance fund from distributing?
Porksawp Makes instant spot exchange, leveraged trades, provide liquidity to earn returns and rewards. When I saw these features, they seem unclear to me,and with these kind of project I think these are the basic needed to be understood. Is there proper way to explain these in details so that the community will be conscious of how to handle the platform?
On your litepaper it says in a nutshell there is a %0.2 trading fee from which goes %0.15 to liquidity providers and %0.05 for buy back. Also it defines this as a constant product formula and says the contracts are non-upgradeable. But on the next paragraph it says there is a private key with the ability to change the trading fees on trades. So does that mean the trading fees are not actually constant on contract? Who can make that change? Can you make that change about the trading fees? Or only community with governance privileges can do it?
On you whitepaper it says the early lender will get most out of the interest from the platform. So won’t this cause for new people to not add liquidity into the lending pool? How will you overcome this problem? If that occur can you change this prioritized rule?
Why did you choose the name pork swap? Is there any significance to it?
2) In terms of your choice to release only 1 million tokens and to integrate deflationary measures, how to you intend on attracting liquify providers as if the token does not perform the APR’s might not incentive people adding liquidity to the pools
Are you using cold wallets?