We are pleased to announce our next AMA on July 21st 2021 at 01:00 PM UTC Time: Satoshi Club x OpenSwap
⚠️Click to see the hour
⚠️Total Reward pool: $500
⚠️Requirements:
👉 Join Satoshi Club Telegram group
👉 Join OpenSwap Telegram group
We will have the following structure:
Part 1: 100$ /6 users – We’ll select 6 questions from the community. A user can post maximum 3 questions.
Part 2: 100$/10 users – Open chat for 120 seconds. You can post Max 3 questions. OpenSwap Team will select 10 questions and answer them.
Part 3: 300$ – A quiz about OpenSwap
For more details:
OpenSwap Website – openswap.xyz
OpenSwap Telegram – @openswapdex
Satoshi Club – @satoshi_club
Russian – @satoshi_club_ru
Spanish – @satoshi_club_spanish
OpenSwap aim to revolutionize on-chain liquidity and DEX swap activities. In order to achieve this, you have introduce two technical innovations which are Liquidity Queues and Hybrid Smart Routers. I will like to know more on the mechanism of operation of these two functions. What differentiate the Spot Priority Queues from Spot Range Queue? How does Liquidity Queues Adaptor protocol guarantee secure and zero-slippage when executing a swap? ? Also, how is your Hybrid Smart Router able to pair a swap against multiple blend of DEX AMM across multiple chains? In what way will these two concepts provide an inter-chain puzzle that will create a backbone for OpenSwap Inter-Chain Protocol to provide an efficient swaps across multiple chains?
According to your tokenomics, the total supply of $OSWAP is one billion. 95% of this will be subjected to locking! What is the reason behind this decision? Does it mean your circulation supply is limited to 5% of the total supply? You have allocated funds for several categories such as the community, team and advisors. Do you allocate this portions from that 5% of the total supply? Further, according to the allocation, 9% of the funds were reserved. If 95% of $OSWAP are subjected to locking, what is the purpose of reserving 9% from the available 5%? What are the utilities of this reserved funds?
You have indicated that your own smart contracts have been audited by CertiK. However, we cannot see any audit report. You have explained about CertiK and a link was provided, but it directs us to CertiK, not to your report. Are you willing to share this audit report with the community? You have asked us to DYOR before connecting our Metamask to OpenSwap. Is this a red light? Can’t you assure your platform is risk free? Please explain about the security measures you have adopted.
According to your roadmap, OpenSwap project has been initiated in the second quarter of this year. Inter-chain protocol is the ultimate goal of the project and it was planned to achieve it in the fourth quarter of the same year. Do you think all the targets you have mentioned in the roadmap are achievable in a short period of time? Let us know whether you have completed all the targets allocated for Q2. Don’t you have any long term plans? Where do you see your self in next five or ten years? By examining a roadmap which is limited to a period of less than one year, how can we trust about the lifespan of OpenSwap?
$OSWAP will launch first on Ethereum blockchain before bridging to BSC later. However, in April, you started a preview of your DEX aggregator on BSC. Also, I read that the first iteration of your Liquidity Queues which is Spot Priority Queues is currently available on BSC testnet. Why did you decide to open testnet on BSC and not on Ethereum since you plan to launch your alpha on Ethereum first? How many users have joined since you launch your product preview and can you share some result? Also, if we wish to try out some of your project features released on BSC testnet, can we still join? If yes, how do we participate and will you have some reward for early-bird user?
As the DeFi universe continues to expand, liquidity will only be increasingly scattered across multiple chains and the situation is poised to get worse as more new chains emerge with individual DEXs on each chain.My question is, what are the major challenges the community is facing that OpenSwap plans to solve?And how will OpenSwap solve the challenge of bringing real world on-chain data to its Liquidity Queues?
You plan to give the community the ability to secure OpenSwap through governance. Your project has two safety command that can be activated by the community through governance which are Emergency Pause and Emergency Restart. How are the Emergency Administration Council formed? What kind of system attack can trigger the activation of Emergency Pause and how are emergency pause proposals initiated and implemented? Also, how will the community decide on the appropriate duration to begin Emergency Restart proposals after a pause action has begun and why will the restart proposal be subjected to 24 hour delay even after it might have been successfully voted by the community and passed to the Emergency Administrator Council?
OpenSwap aims to bring Spot Trading to Defi and this is done through your Liquidity Queue which is based on Secure Adaptor protocol.But no much details about this in your article.Can you tell us your reason of developing Secure Adaptor Protocol and the benefit of it on your platform?What are the advantages of Spot Market Trades in OpenSwap?How will OpenSwap achieve spot market pricing on-chain? Thanks
Apart from Liquidity Queues,I noticed in your roadmap you have other Queues such as:
-Limited Order Queues
-Pegged Queues
-Priority Queues.
Can you please tell us the Unique features/functions of each Queues or are they extension of the Liquidity Queues?What will be the transaction fees of each Queues and how will users benefit from it? Thanks
OpenSwap will introduce Hybrid Routing in 3Q 2021 So can you explain What is Hybrid Routing? What problem does it solve?
Could you please list the steps necessary to participate in staking campaigns on the OpenSwap platform, which you consider are the priorities that a project should always have in mind so that its community and Partners support it in front of the entire market and its expansion is solid and reliable. ?
Even though OpenSwap will allow users to run leading DEX exchanges such as PancakeSwap and BakerySwap they have considered expanding their options, which wallet do you consider to be more secure and more suited to the nature of OpenSwap, which is at this time the real value of your $OSWAP?
I noticed that OpenSwap was originally built on Ethereum Chain.But you later swapped to BSC due to its low gas fee.Did this changes actually had any effect on your Liquidity Queues and users funds?Now that you have migrated to BSC,what benefits have your users derived and have you gained more investors to your platform?Does OpenSwap plans on Launching on other Blockchains like Heco,Polygon, Polkadot etc
In OpenSwap documentation about your smart contract,it is audited by Certik but I couldn’t find further details of it and I try clicking the link of the audit it directed me not to your audit report but to Certik website.My question is what core contract were reviewed by Certik?And when will it be made public?How do you guarantee investors funds are safe while using your platform?
One of the key feature OpenSwap offering is Liquidity Queues. Can you please explain little bit about the working mechanism of this feature? What extra beneficials will Liquidity Queues bring? Will this help to reduce the slippage problems?
OpenSwap is currently in its beta phase so current users are actually the first real testers of your platform. Is there some rewards for these early testers? What benefits will OpenSwap give them? Will OpenSwap run a hackathon in the future to get help from its community for strengthen its security system?
One of the benefits of holding the native token OpenSwap, $OSWAP is governance. When I see it in your website, governance enables users to suggest proposals. Can you please explain this in more detail? What are the ways of creating a proposal and what are the pre requests?
The governance and voting mechanism that it adopts caught my attention. OpenSwap claims that its governance is transparent, how can you ensure 100% transparency? According to your website La defined pre-mint of 20,000,000 $OSWAP tokens will be minted and immediately locked into the Governance contract, for what purpose is this done? And finally, you have a decentralized voting system that I have not personally seen before, with two types of voting: Executive Proposals and Poll Proposals, what is the difference between both types? How many $OSWAP tokens do I need to hold to participate in the voting?
One of the OpenSwap features is the liquidity queue, which feature can help regulate liquidity and assist users when swapping at an optimal price. What are liquidity queues? How does this feature differ from traditional liquidity mining? How does this feature work? How can traders benefit from liquidity queues?
I would like to know more details about the OAX staking campaign on OpenSwap that is taking place at the moment. First of all, what role does OAX play in the OpenSwap ecosystem? What interests does OAX have in this staking campaign? And what benefit can you get from this campaign? As I was informed, users can get OpenSwap tokens before the next IDO, can all users participate in this campaign? What will users be able to do with the token? And finally, how many rounds does this campaign consist of?
Hello im agum i want to ask some question about your project..
Q1 : Could you please provide a quick self-introduction for the community ?
Q2 : Being a new member of highly competitive world your project needs a large user traffic to be sustainable over time. What marketing strategies do you have planned to increase the validity of your brand? Are you planning a strategic partnership to level up your project?
Q3 : Smart contracts are one of the vital security objects, what about smart contracts in your project whether they have been audited by internal or external parties then how prepared is OpenSwap/$OSWAP to respond to this condition?
Thank You
In Q3 of your roadmap you have planned, among other things, Decentralized CrossChain Bridge V1 and Cross-DEX Optimized Swaps. What are the chains that this bridge will include? Will it be subject to tests and audits? Besides the data transfer between chains will it have other unique features? And regarding Cross-DEX Optimized Swaps, how do you plan to optimize it? Will you implement new technology? Can you give us more details about these implementations?
On your FAQ you mentioned that 1% of the total $ OSWAP supply will be made availabe during the IDO offering. From what I know there’s no date yet, but what considerations will your team take in account to select an IDO platform and provide a fair space for the community to acquire your tokens? Can you share with us your thoughts regarding the public sale and when should we expect it?
Your token $OSWAP will be an ERC20 token bridged to the Binance Smart Chain, can you disclose what characteristics will be adopted from the Binance Smart Chain Mainnet? How will the fees be managed and can you tell us about your interests to expand to other chains?
I know smart contract audits are the norm to check for platform safety and vulnerabilities, but errors occur, and in the case of any mishap, it is important that there are rigorous protocols in place to make sure everything is taken care of without any major losses. So please tell us, in the hypothetical scenario where there’s a bug in your platform, what would be your immediate response? I ask you this because it may be key for investors to become a part of your platform, do you have a partnership with any insurance protocol? Is your original dev team still working on the platform?
You recently announced the integration of Impossible Finance onto your platform, would you please let us know about the advantages both protocols get from working closely with each other? And most importantly, what are the benefits for investors in both platforms?
I realized that OpenSwap has a botton to “Connect with Metamask” so Is this the only wallet compatible with you or other Wallet with Web3 explorers can be linked too? ( Trust wallet, math wallet)
⭐️ A problem that any exchange must affront is the the low cap and poor liquidity, so can you tell us how OpenSwap guarantee the enough Liquidity to its tokens? Do you use any Liquidity aggregator Protocol?
OpenSwap have a bridges between Ethereum, BSC and harmony Chains, but have you considered integrate more or is enough just like that?
OpenSwap has any pool with APY or APR to stake tokens? Apart of swapping, which others services are you able to do?
Although NFTs have been the talk of the cryptocurrency space recently, the DeFi sector continues to experience strong growth. so how will OpenSwap manage to stay competitive and among the frontrunners, what are its unique features and how will it revolutionize on-chain liquidity?
The OpenSwap project was born out of the grant support from the OAX foundation to a seasoned team of technology experts at IJS Technologies. Since then, OpenSwap has been creating a revolutionary and comprehensive DeFi hub allowing users experience true optimization to their trades. Can you briefly talk about the IJS Technologies team, what are your core technological functions and how well do you think your vision and expertise has been efficiently transferred and implemented in OpenSwap, and with OpenSwap been a part of the first cohort of impossible finance, what solutions and technology will OpenSwap look to offer and create in an unstoppable DeFi era?
Almost all projects are currently in beta version and it is true that we must use them at our own risk, but I consider that this does not avoid that the project team should seek the best ways for users to be at the lowest possible risk when investing, then, how OpenSwap will establish trust with its community and what protocol will have to keep them safe and with the lowest possible risk of loss of their investment, either by errors in the project or by malicious attacks from third parties?
As stated in your available documents, the OpenSwap AMM is a fork of Uniswap V2 with additional enhancements focused on key parameters being controlled by OpenSwap’s decentralized government. Therefore, why did OpenSwap decide to create it’s AMM system from a direct Uniswap fork, can you specifically list out and explain some of the added enhancements to your AMM aggregators, and talking about governance and control, what parameters within these enhanced features would be controlled by the OpenSwap decentralized governance and how are these control rights acquired within the governance system?
there are many users who want to contribute in the future of the project in which they invest, so I would like to know, is it possible in OpenSwap to collaborate in the important decisions of the future of the project, if so, all the users can do it or it is necessary to fulfill certain requirements to have this right, also can you share with the present, the different means, where we can give ideas and also request answers to the uncertainties that may arise in the future about the project?
I have read that OpenSwap has a hybrid routing feature, can you tell us what is the contribution of this mechanism in the OpenSwap ecosystem, i.e. what are its benefits and how important is it?
I could see that OpenSwap is in Beta, but do they really have defined when this test time will end and when will they launch their full platform?
I read that OpenSwap’s “Hybrid Routing” will allow users to perform “the best and most intelligent operations”, but really these intelligent operations will be performed automatically? or it will require that users have some knowledge of the market?
The “COLA” product that they will develop calls my attention, could you really tell us and explain a little more about its operation, and how it will revolutionize the Dex market? And also, when will this product be available?
You mention that you expect OpenSwap to offer the best prices in the chain, but how will it really guarantee to provide the best prices to traders, when in other swaps with other MMAs they will have different and “less attractive” prices?
I understand that OpenSwap will implement various products which will optimize the marketing operations, but will this “optimization” really increase the complexity of performing a simple swap on your platform? or will the user experience really be extremely good?
I understand that OpenSwap is an integrated, all-in-one DeFi hub designed to revolutionize on-chain liquidity, but will this “liquidity revolutionize” design really be focused only on long-tail projects? or will they guarantee great liquidity to all?
Could you really explain to us why you will only launch the OSWAP tokens on your own OpenSwap platform? instead of launching it and listing it on pancakeswap and other recognized swaps on this network?
I could notice that they make a lot of mention of “Breakers and liquidity queues”, which are one of the benefits that OpenSwap provides, but really how important are these features for the AMMs that we see in Dex? Will these really solve the liquidity problem completely?
I read that OpenSwap has been launched first on Binance Smart Chain, followed by implementations on other chains, but could you really explain why launch it first on this network instead of others? Is it necessary to start at BSC and then expand to the rest?
What are the unique competitive features that OpenSwap possesses that unquestionably position it ahead of other similar projects?
Could you tell me what are the main reasons why operators and liquidity providers should choose to integrate into the OpenSwap ecosystem and what are the advantages they can gain in the DeFi space?
How is the DEX aggregator implemented by OpenSwap different from other DEX aggregators that can be found in the DeFi space?
What is the scope and efficiency of the Hybrid Routing provided by OpenSwap to the users, what utilities does it provide to the users and how do you guarantee an optimal functioning of the same without possible failures or errors?
One of OpenSwap game changing features will be liquidity queues, according to your docs this feature will be based on your Secure Adapter protocol that will carry out trade-time security checks on underlying oracles. Many of us might not be familiar with this features, can you explain how does this liquidity queues work? And some details about the security protocol that is behid it? Also, can you tell us which oracles will be linked to the process?
Your partnership with Impossible Finance has recently been announced, can you tell us more information about your work together and the benefits for both communities? What other partnerships are important for OpenSwap in this stage of the project?
On your tokenomics you mention that your governance token OSWAP enable platform privileges such as “priority” features, can you tell us about this exclusive benefits?
A key component on your platform is the secure adapter protocol. This is a special topic since most of the community is worried about the security leaks that new projects can have putting their funds in risk. Can you explain this protocol and what complementary security features do you have?
From what I research, OpenSwap is still in a Beta version, can you tell us what improvements will be made to your Beta product when it is totally finished? How can the community participate in the growth of your platform?
Tell me, how do you deal with impermanent losses, what actions do you take to minimize these losses, or does a similar problem not exist at all in the OpenSwap ecosystem?
In your roadmap Q4 you have planned for a initial inter-chain swaps introduced on testnet for ETH BSC. In your last AMA you have considered about bug bounty rewards too so can you please tell us little more about your bug bounty programmes and what are the rewards for it?
Openswap documentation mentions that the core contracts (ie. AMM pools, Governance, liq queues) were audited by Certik .Certik also provided you guidance on mitigating risk when you first introduced the concept of oracle priceswap. Will you tell us more about it ?Also I could not find any audit report available. Is it public or when will it be available?
According to your website that OpenSwap AMM is a fork of Uniswap V2 with additional enhancements focused on key parameters being controlled by OpenSwap’s decentralized governance. So,can you tell us why do you choose to forked Uniswap V2? As you forked Uniswap V2,what are the enhancement and more advanced features that we can find in Openswap that cannot be found in Uniswap V2? As we know Uniswap is an established platform already and it has already many users,so how do you plan to made your own name and make Openswap popular to market? Uniswap had an airdrop as they launch their token,so do you also have plan to have an airdrop in your platform to attract more users in your platform? Thank you
I just found out that Openswap has an Emergency Administration Council. So,can you explain more about this Emergency Administration Council in your platform? What will be there position, duties or job in Openswap? How can anyone be a member of Emergency Administration Council? Is it voted or voluntary by users in your platform? As a member of this council,what incentives, benefits or privileges may be underlying with their position in Openswap? Thank you
One of the valuable component of the project’s success is Partnership. However, I didn’t see any partnership details on your website. Could you share to us who are your partners, investors and backers?
What exactly are liquidity queues, and why is DeFi in need of those? What are the features of liquidity queue that could help regulate liquidity and assist users in swapping at the best possible price? How exactly does this work to reduce OpenSwap users’ slippage?
I wanted to ask about how OPENSWAP built a one-stop DeFi solution on the Binance Smart Chain with a fairly broad product range. can you tell us in detail?
The DeFi space is evolving at such a fast pace, How do you ensure your product stays relevant and keeps up with market changes in this fast-paced world of decentralized finance?
DeFi continues to grow, liquidity will only spread more and more across multiple chains and the situation is poised to get worse as more new chains emerge with individual DEXs in each chain. so what is the commitment of OpenSwap to solve this problem occurs ?
What is your vision of the direction the DeFi market will take as it matures, and beyond these challenges, and how does OpenSwap play a role in this?
we all live in the real world. The need to bring real-world data on-chain will be a challenge. what can we expect from OpenSwap to narrow this gap
Bringing the ‘spot’ trading experience to DeFi has been pursued by many and you share the vision of achieving this through the addition of their ‘liquidity queue’ and ‘secure adapter protocol’. can you give us an overview of how you will reach the spot on-chain market price?
What strategies do you plan on OSWAP to attract more Users, thus becoming the authoritative gateway, platform of choice for DeFi? What are my advantages of holding $OSWAP?
Can you share information about the IDO plan? what are the requirements to be whitelisted?? When and where plan to do it?
Hi OpenSwap!
The aim of OpenSwap is to revolutionize on-chain liquidity with a set of solutions that act as cogs to achieve the ultimate goal of supporting Inter-Chain swaps. I am interested to learn more about the OpenSwap plans for an Inter-Chain Bridge, could you please tell us more about it? Is your bridge more user friendly for beginners and what will be different in your implementation vs the traditional synthetic bridges? How do you plan to make Inter-Chain bridging/swapping more efficient, will OpenSwap maintain liquidity on various chains?
Thank you!
@bruce_oswap
Hi OpenSwap!
OpenSwap documentation talks about the Liquidity Queues and the underlying decentralized framework. Could you please explain how Liquidity Queues work, Is it mainly a tool that provides users with the choice of executing a swap with any liquidity source? I also read that a concept of Liquidity Queues provides users with zero slippage swaps where Spot Queues will always execute swaps at spot-market prices. Please clarify how Liquidity Queues help you solve the slippage problem especially considering that you aggregate multiple DEX AMM pools and their internal slippage may be different.
Thank you!
@bruce_oswap
Hi OpenSwap!
On the OpenSwap app I noticed you have promo staking programs where users can stake OAX token and get $OSWAP token as a reward. Apart from these staking programs, are there any other ways to obtain $OSWAP tokens other than buying on DEX? And on a related note, with current high emission, how do you plan to combat selling pressure to increase the value of $OSWAP token? Do you consider burning events, staking $OSWAP in the future liquidity pools, maybe something like a governance or validator staking?
Thank you!
@bruce_oswap
Currently there is ongoing STAKING CAMPAIGN in OpenSwap platform, called “Stake $OAX Earn $OSWAP” with a variety of vesting period plans. Can you tell us these Staking plans? I wish if I could join to this staking campaign. Do I still have a chance to join this staking Campaign? At the end of vesting period, will I able to withdraw my $OAX tokens safely? Do you hope to launch more staking campaigns in future with other platforms also?
As you mentioned, OpenSwap users are the pioneers & they can create polls & executive proposals to enhance the exposure of OpenSwap under the sector of governance portal. But users have some $OSWAP to participate for the governance. What is the minimum value, needed to create a poll & executive proposal? Will you incur fee when a user engage in a poll or executive proposal? And I saw three kind of balances, interrelated with each other called wallet balance, Stake balance, Voting balance in governance portal. Please explain about voting balance & how can users increase their voting balance? How will these balances be implemented to establish rules for OpenSwap platform? It seems to be that you will interfere some critical stages in OpenSwap platform in future if needed. Is it true or will you renounce the ownership fully?
OpenSwap aim to provide a better rate with less slippage from an increasing number of liquidity sources through DEX aggregator. How will OpenSwap DEX aggregator help users to enhance usability & improve user experience? But the cases of some DEX aggregators are Customer service may be lacking, trickier to cash out from a DEX. So which strategies will you deploy on your DEX aggregator to overcome these traditional issues? And also nowadays there are top rated DEX aggregators in crypto market such as 1inch, Slingshot, totleswap, Paraswap etc. Will OpenSwap be able to get in to the world’s top 5 DEX aggregators by the end of 2021? Is there any option to rate your DEX aggregator to become the most popular & usability aggregator on crypto space?
Why did you decide to hold an IDO at the very little-known platform — Impossible Finance Launchpad? At the moment, the site shows only 1 launched token.
What are the advantages, and what are the security guarantees of transactions on this platform?
You plan to introduce limit orders. Will this be implemented through the creation of an order book, but then you would need to involve market makers.
With what funds will be paid for the services of market makers, if the Vesting period of the reserve fund is at least 6 months.
I read on website Liquidity providers earn a 0% fee, what this? Is it typo or it really your special strategy?
I read that the OpenSwap protocol will issue a governance token called OSWAP as part of the protocol’s release. What functions will it have? How will community members get your token, what is its initial cost, and where can they buy OSWAP? I would also like to know about IDO: is there a planned date, where will it take place and according to what rules?