We are pleased to announce our next AMA on December 17th 2021 at 05:00 PM UTC Time: Satoshi Club x Swim
⚠️Click to see the hour
⚠️Total Reward pool: $500
⚠️Requirements:
👉 Join Satoshi Club Telegram group
👉 Join Swim Telegram group
We will have the following structure:
Part 1: 100$ /6 users – We’ll select 6 questions from the community. A user can post maximum 3 questions.
Part 2: 100$/10 users – Open chat for 120 seconds. You can post Max 3 questions. Swim Team will select 10 questions and answer them.
Part 3: 300$ – A quiz about Swim
For more details:
Swim Website – swim.io
Swim Telegram – @swimprotocol
Satoshi Club – @satoshi_club
Russian – @satoshi_club_ru
Spanish – @satoshi_club_spanish
I understand that the Swim Protocol will only be as secure as its least secure component and any vulnerabilities in Wormhole would pose a systemic risk for participants of the system. It’s good that you let us know that. How will you advice participants on how to handle their properties to minimize exposure to risk? What are the type of warmhole specific risk that participants may face? Are there any safety mechanisms put in place to help participants?
Many current cross-chain AMM implementations introduce wrapped assets. The resulting issues are two-fold, firstly, the user will often receive noncanonical forms of their token, which requires the user to perform additional actions before their assets can be used. Can you elaborate more on these additional actions a user is required to perform before using their assets? Can you elaborate more on the noncanonical forms of a user’s token? How often does a user receive them?
Many current cross-chain AMM implementations introduce wrapped assets. The resulting issues are two-fold, firstly, the user will often receive noncanonical forms of their token, which requires the user to perform additional
actions before their assets can be used. Can you elaborate more on these additional actions a user is required to perform before using their assets? Can you elaborate more on the noncanonical forms of a user’s token? How often does a user receive them?
This one’s a mistake
Swim Protocol (Liquidity Pool)- you did said that the primary motivations of this this design are twofold, Solana’s high speed and low cost keeps protocol Level transaction fees to a minimum, however on (fees), you said that traders will incur a trading fees to the protocol in addition to any Slippage (or bonus) incurred (or received) according to pool composition and compensate liquidity providers for the opportunity cost of providing their assets and have Calibrated at inception to be competitive with similar AMMs available, and the Fees parameter will be adjustable and can be raised or lowered as needed. Could you please explain to us in what circumstance could the fee parameter be adjustable and raised or lowered? Where it is either raised or lowered, what would be the effect on the gamer and the ecosystem? Finally, how exactly do you mean by ” Calibrated at inception? Please explain to us
In order to facilitate movement of assets between major Blockchain networks, swim platform implemented some new solutions/features into existing cross-chain token bridge which includes Proof of Authority (PoA) bridges, Hash time Locked Contracts(HTLC), Conditional Transfers and limitations of wrapped Tokens. Can you elaborate on each of this feature you have integrated into existing cross-chain token bridges? Can you also explain on how these features will help facilitate the movements of assets between major blockchains?
For the first quarter of 2022 you have written down on your roadmap to release the governance of Swim Protocol, an essential system within any decentralized platform. Can you tell us a little more about the Swim Protocol governance process? Will there be a token whose exclusive function is governance or will the SWIM token be used for this purpose as well? In order for users to have the minimum required voting power, how many governance tokens must they have? On what aspects and parameters of the Swim Protocol ecosystem will the community have a vote?
Most Platforms using cross-chain AMM Implementations introduced wrapped Assets and the resulting issues are twofold hence Swim platform sets out to solve these issues by combining AMM technologies with Wormhole’s Bridging Functionalities and from my understanding Wormhole uses decentralized cross-chain oracles called guardians. Can you elaborate a bit on wormhole Bridges and it features? Can you explain on how wormhole bridges work using decentralized cross-chain oracle called Guardian? What are some of the wormholes bridging functionalities which Swim Platform will be taking full advantage of? In conclusion, can you elaborate more om how Swim platform aims to combine current AMM technologies with Wormhole Bridging functionalities?
In your Whitepaper, you have highlighted some issues of prevailing platforms. According to my experience, longer wait times is one of the main barriers among them. Although you have stated that 15-minute delays are common among cross-chain bridges, sometimes I experience 1-hour delays too. Thank you for paying attention to this problem. Have you overcome this issue successfully? If yes, what type of techniques you have introduced to avoid these delays? What is the normal time does Swim take for a cross-chain bridge? While making it fast, maintaining the trust and the security is equally important. What kind of measures you have taken to protect the secureness while introducing the fastness?
While explaining about the trading fee on your protocol, you have mentioned that the fee parameter will be adjustable and can be raised or lowered as needed. Can you explain what should be done by users to lower the fee? Can they get to know about the fee prior to the transaction and postpone it if the fee is high? When adjusting the fee on Swim protocol, what kind of factors does the platform take into consideration? Like some other platforms do, do you offer any discounts on fees if users hold your platform tokens or pay fees with them? When compared to similar protocols, does you charge a lower fee? Please explain about fees on Swim protocol in addition to trading fees.
As i understand,Swim’s liquidity pools will support the provision of USDT and USDC on both Ethereum and Solana.Will the same option be available for BUSD and the Binance network? Can you please tell us more about how the deposit and withdrawal of funds in your liquidity pools will take place? What are the main benefits for Swim pools users?
Although you offer a secure protocol, you have stated that vulnerabilities in Wormhole would pose a systemic risk for participants of the system. Can you clearly explain about these risks to the community? What have you done to minimize Wormhole-specific risks? On the other hand, what type of actions that users should take to prevent these risks? If users face any issues due to Wormhole vulnerabilities, is the Swim protocol responsible for it? Do you have any reserve or a partnership with insurance provider to get the funds back? It is clear that any platform is not 100% secure, but I wish to know whether there are any security holes on Swim protocol in addition to this Wormhole vulnerabilities.
I read from your swim white paper that upgrades to Wormhole are anticipated to support alternate block chains such as Binance smart chain and Terra,which will further improve SWIMS functionality. Do you have plans of supporting other alternate block chains other than Binance smart chain and Terra In the year to come? If yes, What are the block chains? What made you anticipate partnership with Binance smart chain and Terra? What are their main features or advantages which made you decide to chose them over other block chains?
I read from your white paper that Users do not benefit from an AMM(Automated Market Marked) that offers ample liquidity at all price points for token pairs whose exchange rate is expected to have minimal fluctuations from a set rate. I’m curious to know, with a large amount of liquidity with minimal fluctuations from set rates, why can’t a user or users also be beneficiaries of such? Can we know the examples of such token pairs?What features do this consist of which makes it a non-user beneficiary token?
I read from your website that Conditional Tranfers are less secure because each successive step in a transaction is dependent on the outcome of previous steps, with observer nodes or validators sitting in between to relay the outcome of actions across chains. Do you have any safety measures in case of cyber attacks? What are the safety measures you’ve put in place to counter cyber attacks? What features would your safety measures be equipped with if you have plans on building any?
What Swin is doing is combining automated market maker mechanisms (AMM) with Solana Wormhole’s bridging functionality. This encapsulates the Wormhole state as a proof of authority token bridge. What is the Solana Wormhole bridging functionality? How does this functionality work? What are their characteristics? Advantages?
Swim’s starting point is already more diverse than existing options for cross-chain asset transfers, including wrapped assets. What elements does Swim have to provide a highly versatile tool to move your assets to the desired destination with ease? How will Swin achieve this goal? Tools?
Swim allows users to simultaneously connect wallets on multiple chains such as Ethereum, Solana, and Binance Smart Chain wallets. Once the user’s wallets are connected, they will be able to trade native stablecoins at stable exchange rates. How is this Swin ability supported? What tools does Swin have to achieve this?
Swin’s LP token has advantages over existing LP tokens in the following ways: Fungibility: ability to traverse all chains to which the Swim protocol is connected Composability: ability to integrate with any protocol connected by the Swim multi-chain network. How does fungibility and composibility work? What advantage does each of these features offer? Benefits?
As a means of adopting more users and keeping the existing ones entertaining and engaged in the lroject,Swim is having a #25Daysofswim holiday trivia contest running from 1st Dec-25th Dec. Where participants will have 24 hours to answer questions from the team and winners will be randomly picked and rewarded.please can you explain how interested members can participate in this contest, what are the requirements they must meet? It touched me when you said residents of the United States,Cuba,Crimea and sevastopol, Iran, Afghanistan,Syria,North Korea may participate but may not earn rewards. What is the reason behind this?, is Swim prohibited in these countries? If so why is Swim prohibited in so many countries and what is Swim team doing about it?
One interesting feature of Swim is “Wormhole” an example of PoA(proof of Authority) token bridge that maintains a number of cross-chain node operators that verify the authenticity of bridging activity. It is said this wormhole uses decentralized cross-chain Oracles called “guadians”to certify token lockups and burns on one chain in order to mint new tokens or release tokens on the other or vice versa. Call you tell us, what are these “guadians”? How many are they responsible for validating transactions? How are they responsible for maintaining a robust degree of transaction security witin the ecosystem? Please tell us more about these guadians
The Swin protocol is applicable to DEX and CEX, Swin lecdara admission to groups of native stablecoins in Ethereum, Binance Smart Chain and Solana, among its plans to create a new stablecoin of its own, which performance mechanisms Swin offers to its users, Will you have a liquidity mining program that provides real benefits to its participants, do you have a schedule or schedule to follow soon?
In the Swin platform what is the link or relationship between Wormhole and Solana, in an article about Swin they tried to exemplify their theory, the example is “USDT transferred through Wormhole becomes USDT wrapped in a wormhole, which is not fungible With Solana’s native USDT (USDT SPL). This creates an undesirable two-tier system of wrapped and native assets, fragmenting liquidity and creating a suboptimal user experience.”, So what would Swin’s proposal be? Thank you.
First of all, I would like you to please tell us about Wormhole and your decision to develop its protocol under your tutelage, why do you consider it necessary for users to change from native assets in one chain to native assets in another, what are the benefits of this transaction and which ones may be the risks that may arise in doing so?
Swim plans to implement a “Volatile Asset Swap” on it platform starting from Q1 2022.So to fully grasp what you mean by Volatile Asset Swap,can you please explain to the meaning of this swap for a better understanding?Is the “Volatiles Asset Swap” in the typical sense, as usually swaps involving an exchange of cash flows based on fixed and/or varying rates?Is the “Volatile Asset Swap” meant for all users or its has some users that can make use of it?Can you give an example of how to use the Volatile Swap?Please explain Thanks
I notice that Swim deals on Cross-Chain Swaps,so tell us will you employ HTCL smart contracts that ensure users with enhanced security and guarantee a refund if a conflict occurs or the first participant (sender) changes his mind for some reason?The use of centralized exchange involves high switching costs. Besides,users also need to do lots of formalities like finding a reliable exchange, getting registered, abiding by the terms & conditions, and so on.So how can you tell us the cost of swapping to other chains especially since you support Cross-chain Swapping between Ethereum to Solana?Tell us how do you achieve high flexibility in your Cross-Chain Swaps? Please Explain Thanks
Come Q1 202 which is just around the corner,Swim will include “Governance” on its platform.We all know “Governance” is the systems in place that allow decisions to be made.So can explain to us how Swim “Governance” will work?Some platform offers On-chain and Off-Chain governance,so which will you implement? Sometimes governance comes with staking,will you also include staking or will users just have to hold some token?If yes,which token will they stake with?Please give us information to your soon to be launched Governance. Thanks
Come Q1 2022 which is just around the corner,Swim will include “Governance” on its platform.We all know “Governance” is the systems in place that allow decisions to be made.So can explain to us how Swim “Governance” will work?Some platform offers both On-chain and Off-Chain governance,so which will you implement? Sometimes governance comes with staking,will you also include staking or will users just have to hold some token?If yes,which token will they stake/hold?Please give us more information to your soon to be launched Governance. Thanks
I read from your document polished 17th August that Swim team are constantly looking to partner with projects to grow the ecosystem with plans to Integrate borrow/lending, wallet and dashboard aggregators. So can you tell us more about the borrow/lending, wallet and dashboard aggregators
you plans to integrate? Which among these features do you consider priority? Have you secured some important partnership regarding these features already? What makes you confident that your borrow/lending, wallet and dashboard aggregators will be among the key or best products in crypto space?
Swim offers the possibility of carrying out cross chain transactions through a “Solana’s Wormhole”, it seems that this is the core technology of your project, so could you tell us how this bridge works and how it differs from other multi-chain liquidity protocols? Does it work only for stable coin trading ans stable swap pools or can all kinds of assets be transferred?
An easy-to-use multi-chain bridge is always needed, and Swim looks like a promising platform, however, when I tried to connect my wallet, I realized that even though you support many Solana wallets, the wallet to bridge to Ethereum and Solana is limited to Metamask. This was quite disappointing, but since you’re still a new platform, would you let us know when do you plan to add support to other wallets like Trust? Also, to start using your bridge, what are the different tokens and coins we should hold? Do you make it easy to swiftly buy or swap our gas tokens when needed? Or do we need to go to a centralized exchange to do that?
Integration with other DeFi projects can change the whole perspective and direction of a platform, I could see that you have planned to establish relationships with other Solana projects by the end of this year but it seems that none of this has yet materialized, could you tell us how many funds have you reserved for partnerships and integrate new developers and advisors to the project?
Apart from having strong project team, Security, Marketing and VCs play key role in expediting the success of a project. What are the security measures implemented on your platform? Do you have audit report already? If no what are your plans for audit? Can you tell us some of your important backers or VCs? What are your Marketing strategy to grow project and onboard users and get wide spread adoption?
In a previous interview you mentioned that part of the inspiration of your tokenomics comes from Curve and xSUSHI in terms of governance and deflationary mechanisms, could you tell us how similar can it be and what new features will be incorporated to make it unique and suitable for the platform needs?
Swim seems to have very solid features, including cross-chain interaction functions through your Wormhole, but I would like to know who intervenes in the protection of the funds that are handled in this bridge, could you tell us if it has the same level of security as Solana network or is it handled through a different mechanism? What are the security advantages?
Hello Swim Protocol team. I read that Swim’s AMM is inspired by Curve’s proven StableSwap invariant, with necessary modifications to enable cross-chain stablecoin swaps. What are those modifications that were made? What do Curve and Swim’s slippage curve share in common? And after those modifications made, how do they differ? Can you explain in detail what the Curve’s proven StableSwap invariant consists of and why it was an inspiration for Swim? Thank you.
With particular reference to Swim’s AMM service, its stated that your slippage is inspired by Curve’s StableSwap invariant, with a little bit of modification. Can you give us a clear understanding on the choice of Curve’s model, how does it ease your AMM operations? Talking about your AMM, can you briefly elaborate on the general design, features and the advantages this has on your services? May we also know how your fee structure would be impacted with the adopted slippage variant and AMM structure?
Your economic model especially as it relates to token distribution, shows that Swim would allocate the largest proportions of its tokens to Liquidity mining and Partnership & economic incentives, accounting for 30% and 35% respectively, of a Billion total token supply. Been that these areas of substantial allocation make up the core operational aspects of the Swim project, can you thoroughly expantiate on them, how would the liquidity mining program be set up, and when will is the target date for commencement, and what would be your the estimated monthly and yearly emission rates? Can you kindly share some of your proposed economic incentive programs, how often would they be run?
Given that the Bridges technology is kind of new, and SWIM protocol is said to be expanding cross-chain bridges beyond just EVM compatible networks. Please can you tell us what measures or technical designs you’ve set in place in your cross-chain solutions for a better Performance, compared to other platforms out there.
& i saw that you’re planning to launch an Alpha Products this coming January, please can you tell us what to expect from that Alpha Product? What features would it present to your ecosystem? And of what benefits would it present to users in your eco system?
We all know that one of the Advantages of Token burning is to help create a more reliable consensus mechanism for verifying and appending Transactions to the blockchain and also helps in stabilizing the Amount of course tokens in circulation, which has helped several other project out here in Utilizing their Tokens., so please, does your platform have any Token Burning Mechanism yet? And can you please tell us the benefits and rewards that is presented to users that holds or stakes their SWIM tokens?
We all know that one of the Advantages of Token burning is to help create a more reliable consensus mechanism for verifying and appending Transactions to the blockchain and also helps in stabilizing the Amount of course tokens in circulation, which has helped several other project out here in Utilizing their Tokens., so please, does your platform have any Token Burning Mechanism yet? And can you please tell us the benefits and rewards that is presented to users that holds or stakes their SWIM tokens? In your ecosystem?
At the beginning of the next year, you will integrate with more chains and there will be cross-chain project collaborations too. What are your targeted chains? What type of factors did you consider when choosing a chain? Have you already done any work related to those integrations? Further, please explain about your cross-chain project collaborations. What will be the targets of those collaborations? Can any project apply to build up a partnership with Swim? If yes, please let us know about the procedure. Since your roadmap ends from the second quarter of the next year, please explain us about the long term targets of Swim.
Airdrop campaigns have been shown to be a massive tool in bolstering community growth. Are you and your team considering running airdrops for swim protocol?
Can you deeply explain about your multi-wallet compatible feature? Although you have stated that users can see their balances across several chains, it is not clear how does it work. Do you allow all chains? To enable this feature, should users have to connect all wallets to Swim? I have heard that putting all the eggs in one basket is risky. Therefore, how do you assure that there will be no risk of connecting all wallets to Swim? In addition to check the balance, can users trade/withdraw/deposit using the same platform?
I am curious to know more information on AMM style bridge offered on Swim. According to the brief description you have provided, users can bridge easier by only using native assets, native gas tokens and wallets. How does it differ from other bridges that use bridge wrapped assets? Please explain about the benefits of choosing your platform in terms of convenience, cost and user experience. Is bridging with native assets a unique concept of Swim? If yes, how did this idea come to your mind? Have you done any research before introducing a whole new concept?
What was discussed in your conversation with Daniele? Any partnership?
When I read your website one of the features you mention that make Swim one of the best options is the AMM style bridge, which you mention is novel, so could you tell us about the design of this bridge, what makes it unique, safe and reliable for the user and tell us a little bit about the benefits that can be obtained by using it?
reading your roadmap I could notice that for this Q4 of 2021 you plan the following:
Launch of Swim Finance product.
SWIM token issued
Integration and collaboration with Solana projects.
so, could you tell us about these launches, explain what each of them is about, tell us, which ones you have already completed, how successful they were and mention which ones are still in process and users are still in time to participate?
I find it interesting to know the story behind a project so I would like to ask you, what led you to build Swim, what was the motivation you had to create this project, what problems you mainly want to solve, why did you decide to take the name Swim instead of any other and what would be the biggest goal you still have to accomplish with Swim in the future?
Wrapped tokens create bridges between different blockchains without going through the limitations of using non-native assets, so my question is, why is Swim Protocol better than wrapped assets, could you explain what are the differences of using your protocol instead of wrapped assets and how they improve the process for the user?
What’s the strong points of your protocol comparing to similar app(e.g. allbridge)??
What’s mmyiur tocnomics and what is token used for??
When do you plan to launch the eron wallet? On your roadmap it says november 2021 and it’s still not ready
How will you implement crypto in physical project of real world utilities for poor areas?
When do you plan to launch the eron marketplace?