{"id":11290,"date":"2021-08-10T18:50:49","date_gmt":"2021-08-10T15:50:49","guid":{"rendered":"https:\/\/esatoshi.club\/?p=11290"},"modified":"2021-08-10T18:54:47","modified_gmt":"2021-08-10T15:54:47","slug":"ama-satoshi-club-x-swaperry-august-9th-2","status":"publish","type":"post","link":"https:\/\/satoshi-club.esipick.com\/index.php\/2021\/08\/10\/ama-satoshi-club-x-swaperry-august-9th-2\/","title":{"rendered":"AMA Satoshi Club x Swaperry, August 9th"},"content":{"rendered":"\n

We were delighted to welcome our guest from Swaperry . The AMA took place on August 9th, 2021 and our guest was @danghoa1.<\/p>\n\n\n\n

The total reward pool was 500$ and\nwas divided into three parts. In this AMA Recap we will try to summarize some\nof the most interesting points for you.<\/p>\n\n\n\n

Part 1 \u2014\nintroduction and questions from the\nTelegram&Bitcointalk community<\/strong><\/h2>\n\n\n\n

Gold\nRocket | Satoshi Club: <\/strong>Hello, dear Satoshi Club community! We are\npleased to announce AMA with Swaperry.<\/p>\n\n\n\n

Gold\nRocket | Satoshi Club: <\/strong>Today our guest is @danghoa1<\/p>\n\n\n\n

Phil\nDang | Swaperry: <\/strong>Hello everyone. \nI’m excited to be here.<\/p>\n\n\n\n

Gold\nRocket | Satoshi Club: <\/strong>Hello and welcome to Satoshi Club, @danghoa1!😊<\/p>\n\n\n\n

Phil\nDang | Swaperry: <\/strong>Big thank you to everybody for attending this AMA!<\/p>\n\n\n\n

Gold\nRocket | Satoshi Club: <\/strong>We also really excited about upcoming AMA😊<\/p>\n\n\n\n

Gold\nRocket | Satoshi Club: <\/strong>Let’s start!<\/p>\n\n\n\n

Introduce yourself please. How did you get to be involved in crypto &\nSwaperry?<\/p>\n\n\n\n

Tell us please about your position in Swaperry?😊<\/p>\n\n\n\n

Phil\nDang | Swaperry: <\/strong>Of course!<\/p>\n\n\n\n

Phil\nDang | Swaperry: <\/strong>I’m Phil, co-founder and CEO of Swaperry.<\/p>\n\n\n\n

Phil\nDang | Swaperry: <\/strong>A bit about myself. \nI was born and raised in Vietnam, but I moved to Singapore and\neventually to the United States for education<\/p>\n\n\n\n

Phil\nDang | Swaperry: <\/strong>and now I live in Silicon Valley<\/p>\n\n\n\n

Phil\nDang | Swaperry: <\/strong>Before crypto, I was a software engineer.  I spent the last 4 years working at Google,\nand a few more years before that at Facebook.<\/p>\n\n\n\n

Phil\nDang | Swaperry: <\/strong>I’ve stumbled across the topic of blockchain with my\ncolleagues at Google many times, but last year was when I was heavily drawn\ninto by it.<\/p>\n\n\n\n

Gold\nRocket | Satoshi Club: <\/strong>Wow amazing background 👍<\/p>\n\n\n\n

Phil\nDang | Swaperry: <\/strong><\/p>\n\n\n\n

The future potential for blockchain to become such an integral part of\ntechnological products and contemporary finance really fascinated me.<\/p>\n\n\n\n

Gold\nRocket | Satoshi Club: <\/strong><\/p>\n\n\n\n

so you are golden youth😁<\/p>\n\n\n\n

Phil\nDang | Swaperry: <\/strong><\/p>\n\n\n\n

That is why early this year I decided to take the courage to leave Google\nand started Swaperry.<\/p>\n\n\n\n

Phil\nDang | Swaperry: <\/strong><\/p>\n\n\n\n

haha<\/p>\n\n\n\n

Gold\nRocket | Satoshi Club: <\/strong><\/p>\n\n\n\n

This is what impresses us every day.😍<\/p>\n\n\n\n

Gold\nRocket | Satoshi Club: <\/strong><\/p>\n\n\n\n

This is a really tough decision on your part! I’m sure you did the right\nthing🙌<\/p>\n\n\n\n

Gold\nRocket | Satoshi Club: <\/strong><\/p>\n\n\n\n

What is the essence of Swaperry?<\/p>\n\n\n\n

Phil\nDang | Swaperry: <\/strong><\/p>\n\n\n\n

Yep I’d love to tell you more about what Swaperry is about 🙂<\/p>\n\n\n\n

Phil Dang\n| Swaperry: <\/strong><\/p>\n\n\n\n

There’s a lot to say, but in a nutshell, Swaperry is a highly powerful\nDEX built on a Polkadot parachain.<\/p>\n\n\n\n

Phil\nDang | Swaperry: <\/strong>If you’re not familiar with Polkadot, it is one of\nthe most promising blockchain technologies about to launch<\/p>\n\n\n\n

Phil\nDang | Swaperry: <\/strong>and it’s said to be the next Ethereum<\/p>\n\n\n\n

Phil\nDang | Swaperry: <\/strong>So, Swaperry will leverage the gigantic horsepower\nof Polkadot to facilitate extremely fast and cheap transactions<\/p>\n\n\n\n

Phil\nDang | Swaperry: <\/strong>and offer a suite of much needed trading features\nthat previously were unthought of on a decentralized exchange.<\/p>\n\n\n\n

Gold\nRocket | Satoshi Club: <\/strong>We are big fans of polkadot here and consider\nit one of the most promising directions.<\/p>\n\n\n\n

Phil\nDang | Swaperry: <\/strong>Thats awesome! \nYou also share our team’s thinking!<\/p>\n\n\n\n

Phil\nDang | Swaperry: <\/strong>These are things you won’t find on other DEXes<\/p>\n\n\n\n

Gold\nRocket | Satoshi Club: <\/strong>How long does it take to develop a project?\nWhat plans do you have for the future? And what can we expect from Swaperry?<\/p>\n\n\n\n

Gold\nRocket | Satoshi Club: <\/strong>Oops😁<\/p>\n\n\n\n

Phil\nDang | Swaperry: <\/strong>We have started this project since last January.<\/p>\n\n\n\n

Phil\nDang | Swaperry: <\/strong>Our team of close to 20 engineers have been hard at\nwork<\/p>\n\n\n\n

Phil\nDang | Swaperry: <\/strong>and great news: we are actually at our pre-launch\nphase<\/p>\n\n\n\n

Phil\nDang | Swaperry: <\/strong>you will see us launching one of our first features,\ncalled prediction trading, within a month.<\/p>\n\n\n\n

Phil\nDang | Swaperry: <\/strong>And the rest of the products, including our DEX with\nlimit order and stop loss, will come soon after to the market.<\/p>\n\n\n\n

Gold\nRocket | Satoshi Club: <\/strong>Oh! This is incredible! Thanks for sharing\nthis with us.😍<\/p>\n\n\n\n

Phil\nDang | Swaperry: <\/strong>Our long term goal, though, is actually to bring the\nstock market onto our DEX.<\/p>\n\n\n\n

Phil\nDang | Swaperry: <\/strong>The stock market is nearly 100x more than the crypto\nmarket, but its not accessible to most of the world due to national borders.<\/p>\n\n\n\n

Phil Dang\n| Swaperry: <\/strong>For example, most people in the world can’t buy\nApple or Google stock because they are not Americans<\/p>\n\n\n\n

Phil\nDang | Swaperry: <\/strong>We want to be the team that brings stock\naccessibility to the next level, via a decentralized exchange, and we won’t\nstop until we finish that.<\/p>\n\n\n\n

Phil\nDang | Swaperry: <\/strong>Of course! \nHappy to share 😄<\/p>\n\n\n\n

Gold\nRocket | Satoshi Club: <\/strong>So you are in the mainstream👍<\/p>\n\n\n\n

Gold\nRocket | Satoshi Club: <\/strong>Thanks for great introduction, we will have a\nquestions selected for the Part 1. Ready to start?<\/p>\n\n\n\n

Phil\nDang | Swaperry: <\/strong>Sure!<\/p>\n\n\n\n

Q1 from Telegram User @josegamboac<\/em><\/strong><\/p>\n\n\n\n

Swaperry will be one of the first decentralized\nexchanges (DEX) to be available for trading crypto assets on day 1 of\nPolkadot\u2019s launch. Will Swaperry come packed with cross chain support, limit\norder, stop loss, margin, and even predictive trades? All these features will\nbe completely decentralized? Will the community be 100% owner of these\ncomponents?<\/em><\/p>\n\n\n\n

Phil\nDang | Swaperry: <\/strong>Absolutely great first question!<\/p>\n\n\n\n

Phil\nDang | Swaperry: <\/strong>Yes we do intend to launch Swaperry along with\nadvanced features like limit order and stop loss.<\/p>\n\n\n\n

Phil\nDang | Swaperry: <\/strong>What we are dependent on is just the launch of\nPolkadot itself,<\/p>\n\n\n\n

Phil\nDang | Swaperry: <\/strong>which could be a few months away.<\/p>\n\n\n\n

Phil\nDang | Swaperry: <\/strong>Which is why, while we wait for its launch, we will\nbe rolling out a teaser product, called predictive trading.<\/p>\n\n\n\n

Phil\nDang | Swaperry: <\/strong>This is something I’m super excited about!<\/p>\n\n\n\n

Gold\nRocket | Satoshi Club: <\/strong>Does community activity affect the final\nproduct?<\/p>\n\n\n\n

Phil\nDang | Swaperry: <\/strong>This feature works similarly to options trading on\nthe stock market: you pay a ticket to predict the direction of a cryptoasset,\nand win disproportional rewards and possibly the lottery if you predict\ncorrectly.<\/p>\n\n\n\n

Phil\nDang | Swaperry: <\/strong>There will also be an achievement system that would\nreward NFTs to earners.  These NFTs give\nyou massive benefits on Swaperry, and you can trade them with other users.<\/p>\n\n\n\n

Phil\nDang | Swaperry: <\/strong>We believe this product could be a huge hit<\/p>\n\n\n\n

Gold\nRocket | Satoshi Club: <\/strong>this is quite original<\/p>\n\n\n\n

Phil\nDang | Swaperry: <\/strong>And yes of course. \nAll of our products are 100% decentralized<\/p>\n\n\n\n

Phil\nDang | Swaperry: <\/strong>And once we launch, they belong entirely to the\ncommunity.<\/p>\n\n\n\n

Gold\nRocket | Satoshi Club: <\/strong>I totally agree😁👍<\/p>\n\n\n\n

Phil\nDang | Swaperry: <\/strong>Of course.  We\nconstantly seek feedback from our community to shape our final product.<\/p>\n\n\n\n

Gold\nRocket | Satoshi Club: <\/strong>Thank you very much for such detailed answers!<\/p>\n\n\n\n

Gold\nRocket | Satoshi Club: <\/strong>I suggest moving on to the next question. If\nyou do not mind😊<\/p>\n\n\n\n

Phil\nDang | Swaperry: <\/strong>Sure, lets proceed 🙂<\/p>\n\n\n\n

Q2 from Telegram User @Billz120<\/em><\/strong><\/p>\n\n\n\n

On Prediction Trading, how could I join pools that\nPredict the direction of an asset price and win a share of the big pot, along\nwith lottery jackpots? The advanced CEX- only features like limit order and\nprediction trading, having been thought from the ground up in order to function\nand scale, what are the assurances that Perry Token will favourably compete\nwith other Structures ? On Trustless cross-chain migration cryptoasset from any\nblock chain on to Swaperry how could an investor successfully makes such a\nmigration, and are they charges for such migration and at what rate?<\/em><\/p>\n\n\n\n

Phil\nDang | Swaperry: <\/strong>Wow that is a long question! 😄<\/p>\n\n\n\n

Gold\nRocket | Satoshi Club: <\/strong>Partially disclosed. But I think you have\nsomething to add😁<\/p>\n\n\n\n

Phil\nDang | Swaperry: <\/strong>I’ll try to answer as best as I can.<\/p>\n\n\n\n

Gold\nRocket | Satoshi Club: <\/strong>Satoshi Clubbers know how to surprise 😁<\/p>\n\n\n\n

Phil\nDang | Swaperry: <\/strong>The exact details on how prediction pools work will\nbe shared later,<\/p>\n\n\n\n

Phil\nDang | Swaperry: <\/strong>but in a nutshell, you can buy an UP ticket or a\nDOWN ticket to predict the direction of an asset.<\/p>\n\n\n\n

Phil\nDang | Swaperry: <\/strong>when the pool expiry date hits, we evaluate the\ncurrent price of the asset,<\/p>\n\n\n\n

Phil\nDang | Swaperry: <\/strong>and whoever predicted correctly will receive the\npool amount, distributed evenly<\/p>\n\n\n\n

Phil\nDang | Swaperry: <\/strong>Winners are also entitled to a lottery drawing<\/p>\n\n\n\n

Gold\nRocket | Satoshi Club: <\/strong>And the one who was wrong 👀<\/p>\n\n\n\n

Phil\nDang | Swaperry: <\/strong>so you could potentially win a large amount!<\/p>\n\n\n\n

Phil\nDang | Swaperry: <\/strong>Well, you lose 🙂 just like\nbuying a wrong option on the stock market.<\/p>\n\n\n\n

Phil\nDang | Swaperry: <\/strong>But!<\/p>\n\n\n\n

Phil\nDang | Swaperry: <\/strong>You could still earn NFT achievements for losing<\/p>\n\n\n\n

Phil\nDang | Swaperry: <\/strong>and these NFTs can be traded<\/p>\n\n\n\n

Phil\nDang | Swaperry: <\/strong>for potentially high price<\/p>\n\n\n\n

Phil\nDang | Swaperry: <\/strong>as the NFTS do bring massive benefits to your next\nprediction participations<\/p>\n\n\n\n

Gold\nRocket | Satoshi Club: <\/strong>That is, all the same, win win for all😁<\/p>\n\n\n\n

Phil\nDang | Swaperry: <\/strong>Correct<\/p>\n\n\n\n

Gold\nRocket | Satoshi Club: <\/strong>do you already have nft to share with us<\/p>\n\n\n\n

Gold\nRocket | Satoshi Club: <\/strong>Probably a prototype<\/p>\n\n\n\n

Phil\nDang | Swaperry: <\/strong>Right now we are keeping this under wrap<\/p>\n\n\n\n

Phil\nDang | Swaperry: <\/strong>Not to keen on revealing our secrets to potential\ncompetitors just yet 🙂<\/p>\n\n\n\n

Phil\nDang | Swaperry: <\/strong>But do keep an eye out for our announcement!<\/p>\n\n\n\n

Gold\nRocket | Satoshi Club: <\/strong>😁 so pity<\/p>\n\n\n\n

Gold\nRocket | Satoshi Club: <\/strong>many thanks for the answer😊<\/p>\n\n\n\n

Gold\nRocket | Satoshi Club: <\/strong>Let’s proceed to the next question? Or you\nwant to add something😊<\/p>\n\n\n\n

Phil\nDang | Swaperry: <\/strong>Yep let me just add my thought on this part of the\nquestion:<\/p>\n\n\n\n

Phil\nDang | Swaperry: <\/strong>“what are the assurances that Perry Token will\nfavourably compete with other Structures”<\/p>\n\n\n\n

Gold\nRocket | Satoshi Club: <\/strong>Of course ❤️<\/p>\n\n\n\n

Phil\nDang | Swaperry: <\/strong>So Swaperry is built on the shoulder of giants.<\/p>\n\n\n\n

Phil\nDang | Swaperry: <\/strong>The giants are Polkadot and Polkafoundry.<\/p>\n\n\n\n

Phil\nDang | Swaperry: <\/strong>Polkafoundry is one of the top parachains on\nPolkadot, and they offer very reliable and scalable infrastructure<\/p>\n\n\n\n

Phil\nDang | Swaperry: <\/strong>That’s why we have strong confidence in the\nrobustness of Swaperry software.<\/p>\n\n\n\n

Phil\nDang | Swaperry: <\/strong>The choice of Polkadot as a backbone technology also\nallows us to unlock and build many advanced features other DEXes don’t offer<\/p>\n\n\n\n

Phil\nDang | Swaperry: <\/strong>like limit order and stop loss<\/p>\n\n\n\n

Phil\nDang | Swaperry: <\/strong>which is why we think we have a chance at directly\ncompeting with CEXes as a strong option for traders<\/p>\n\n\n\n

Phil\nDang | Swaperry: <\/strong>I hope that helped address your concerns! 🙂<\/p>\n\n\n\n

Phil\nDang | Swaperry: <\/strong>We can proceed now<\/p>\n\n\n\n

Gold\nRocket | Satoshi Club: <\/strong>You’re absolutely right! I really like that\nyou chose the best in crypto industry today<\/p>\n\n\n\n

Q3 from Telegram User @DK177<\/em><\/strong><\/p>\n\n\n\n

Currently, NFT marketplaces are becoming popular\namong users. According to your roadmap, Swaperry has been initiated in the\nfourth quarter of 2020. However, NFTs will be introduced to the project by the\nfourth quarter of 2022, it means after two years. NFT related works help to\ngrab the attention of investors. Why did you postpone putting this popular\nconcept in to practice? What have you done so far to achieve this milestone by\nthe said time? You have mentioned this target as \u201cNFTs\u201d. Please let us know\nwhether you are going to create a NFT marketplace or to develop your own NTFs.<\/em><\/p>\n\n\n\n

Phil\nDang | Swaperry: <\/strong>Very great question indeed, and at the perfect time\nsince I just mentioned our NFT achievements 🙂<\/p>\n\n\n\n

Phil Dang\n| Swaperry: <\/strong>The blockchain industry is one that changes really\nquickly<\/p>\n\n\n\n

Phil\nDang | Swaperry: <\/strong>one thing that may not be such a hot topic last week\ncould be the top hit this week<\/p>\n\n\n\n

Phil\nDang | Swaperry: <\/strong>the plan to implement NFT trading in 2022 was our\noriginal plan when we discussed our future roadmap as a team<\/p>\n\n\n\n

Phil\nDang | Swaperry: <\/strong>but seeing NFTs quickly becoming such a popular\ntopic has led us to expedite our work on it<\/p>\n\n\n\n

Phil\nDang | Swaperry: <\/strong>That’s why you’ll actually be seeing our first suite\nof NFT products as soon as launch (next month!)<\/p>\n\n\n\n

Phil\nDang | Swaperry: <\/strong>the NFT achievements will go extremely well hand in\nhand with prediction trading<\/p>\n\n\n\n

Phil\nDang | Swaperry: <\/strong>and the early adopters will have the best chance to\nwin NFTs,<\/p>\n\n\n\n

Phil\nDang | Swaperry: <\/strong>because they are limited!<\/p>\n\n\n\n

Gold\nRocket | Satoshi Club: <\/strong>yeah… this is very timely… nft are\nexperiencing hype today…<\/p>\n\n\n\n

Phil\nDang | Swaperry: <\/strong>Exactly<\/p>\n\n\n\n

Gold\nRocket | Satoshi Club: <\/strong>That is, there will be a marketplace too?<\/p>\n\n\n\n

Phil\nDang | Swaperry: <\/strong>So yes, we will immediately start with our own NFTs,\nand followed by marketplace<\/p>\n\n\n\n

Gold\nRocket | Satoshi Club: <\/strong>Gotcha👍<\/p>\n\n\n\n

Phil\nDang | Swaperry: <\/strong>This is what we’ve wanted to do from the start:\nSwaperry is all about commercial freedom: trade anything DeFi, not just limited\nto cryptocurrency<\/p>\n\n\n\n

Gold\nRocket | Satoshi Club: <\/strong>tell us another secret<\/p>\n\n\n\n

Gold\nRocket | Satoshi Club: <\/strong>Which blockchain will you use for making NFTs?\nYour NFTs will be only collectibles or have some utility functions?<\/p>\n\n\n\n

Phil\nDang | Swaperry<\/strong>This is not locked down yet, but we will likely go\nwith a blockchain that most people have access to: BSC<\/p>\n\n\n\n

Phil\nDang | Swaperry: <\/strong>The NFTs have utility functions of course<\/p>\n\n\n\n

Phil\nDang | Swaperry: <\/strong>And because these NFT achievements are limited in\nquantity,<\/p>\n\n\n\n

Phil\nDang | Swaperry: <\/strong>their price will only go up, as swaperry users start\ngrowing and demand skyrockets<\/p>\n\n\n\n

Phil\nDang | Swaperry: <\/strong>so, the sooner you race to earn them the better<\/p>\n\n\n\n

Gold\nRocket | Satoshi Club: <\/strong>Yes, it confused me a bit. But then I realized\nthat you have good cross-chain solutions. 😁<\/p>\n\n\n\n

Gold\nRocket | Satoshi Club: <\/strong>Thanks for your answers<\/p>\n\n\n\n

Phil\nDang | Swaperry: <\/strong>Dont worry, you’ll hear more details about it very\nsoon! 🙂<\/p>\n\n\n\n

Gold\nRocket | Satoshi Club: <\/strong>Ready to proceed to the next question?<\/p>\n\n\n\n

Q4 from Telegram User @ambbobb<\/em><\/strong><\/p>\n\n\n\n

Going through your website, I could see you have\nalot of Strategic Investors in your project like HG Ventures, Icetea lab,\nSignum capital etc but I noticed that not even one of them relate with STOCK\nTRADING and you planned to launch a New Stock Market on DeFi very soon. If this\nproject went as planned it will be first of its kind in cryptocurrency market,\nthough somethings might have been put in place, but how do you want to\nconvince\/motivate investors in the line of stock trading for your project? You\nalso want to be trading TSLA, APPL, and GME on your exchange which will allow\nuser to  Buy and sell their tokenized\nversions with USDT or PERRY. How can we Redeem them onto our brokerage as\ntraditional stocks in order to exercise shareholders\u2019 rights?<\/em><\/p>\n\n\n\n

Phil\nDang | Swaperry: <\/strong>Great question!<\/p>\n\n\n\n

Phil\nDang | Swaperry: <\/strong>You’re correct that none of our investors have\nstrong relations with the stock market, and that’s for a good reason: We are\nstill a decentralized platform at heart, and we need their guidance in the\ncrypto space.<\/p>\n\n\n\n

Phil\nDang | Swaperry: <\/strong>And another is, what we are trying to do: bringing\nthe stock market onto a DEX, is something so new, that no investors actually\nhave experience in.<\/p>\n\n\n\n

Phil\nDang | Swaperry: <\/strong>Which is the whole point: we want to bring something\nbrand new to the industry,<\/p>\n\n\n\n

Phil\nDang | Swaperry: <\/strong>not rebuilding an existing product from someone\nelse.<\/p>\n\n\n\n

Gold\nRocket | Satoshi Club: <\/strong>you’re right. this is something unique for\ntoday<\/p>\n\n\n\n

Phil\nDang | Swaperry: <\/strong>So, while our investors cannot directly help with\nstock trading, they offer tremendous value in their connections and network<\/p>\n\n\n\n

Phil\nDang | Swaperry: <\/strong>For example, Signum is one of the top VCs in\nSingapore, and they can help us connect with top banks and brokerages there<\/p>\n\n\n\n

Phil\nDang | Swaperry: <\/strong>Its these connections that are invaluable when we\nare working on something as new as this.<\/p>\n\n\n\n

Phil\nDang | Swaperry: <\/strong>Lastly, we actually do have experts in stock trading<\/p>\n\n\n\n

Phil\nDang | Swaperry: <\/strong>they are not investors, but are our advisors.<\/p>\n\n\n\n

Gold\nRocket | Satoshi Club: <\/strong>It is really more valuable than money😊<\/p>\n\n\n\n

Phil\nDang | Swaperry: <\/strong>That’s why you don’t see them on the list.<\/p>\n\n\n\n

Phil\nDang | Swaperry: <\/strong>And as for how we might be able to bridge between\nthe traditional stocks and the crypto world:<\/p>\n\n\n\n

Phil\nDang | Swaperry: <\/strong>via staking<\/p>\n\n\n\n

Phil\nDang | Swaperry: <\/strong>a local, 3rd party brokerage could potentially hold\ncustody of a staker’s traditional stock<\/p>\n\n\n\n

Phil\nDang | Swaperry: <\/strong>in return, Swaperry mints the crypto stocks, which\nyou can use for trading on our DEX.<\/p>\n\n\n\n

Gold\nRocket | Satoshi Club: <\/strong>Btw did you already finish a seed or private\ntoken sale? if so, can you share details with us? I’m asking because of\ninvestors you have 😉<\/p>\n\n\n\n

Phil\nDang | Swaperry: <\/strong>Of course!<\/p>\n\n\n\n

Phil\nDang | Swaperry: <\/strong>Right now, Swaperry has completed all of its seed\nand private fundraising rounds, and has raised a total of $1.6M.<\/p>\n\n\n\n

Phil\nDang | Swaperry: <\/strong>The next and final raise we will do is in the form\nof an IDO<\/p>\n\n\n\n

Phil\nDang | Swaperry: <\/strong>and it will happen within 2 weeks<\/p>\n\n\n\n

Phil\nDang | Swaperry: <\/strong>so you potentially will have a chance to be one of\nour investors as well<\/p>\n\n\n\n

Gold\nRocket | Satoshi Club: <\/strong>Really soon🤞<\/p>\n\n\n\n

Phil\nDang | Swaperry: <\/strong>our IDO will happen on RedKite launchpad, btw<\/p>\n\n\n\n

Gold Rocket\n| Satoshi Club: <\/strong>what are the requirements?<\/p>\n\n\n\n

Phil\nDang | Swaperry: <\/strong>There is a whitelisting process, where potential\ninvestors will help us by spreading the words<\/p>\n\n\n\n

Phil\nDang | Swaperry: <\/strong>You will get announcements from us very soon on our\nmedia channels!<\/p>\n\n\n\n

Gold\nRocket | Satoshi Club: <\/strong>Where can we follow this process<\/p>\n\n\n\n

Phil\nDang | Swaperry: <\/strong>👥 Our Official Social Media Links<\/p>\n\n\n\n

Website (https:\/\/swaperry.com\/) I Whitepaper (https:\/\/docs.swaperry.com\/)\nI Telegram Chat (https:\/\/t.me\/swaperry) I Telegram ANN\n(https:\/\/t.me\/swaperry_ann) I Twitter (https:\/\/twitter.com\/SwaperryDex) I\nMedium (https:\/\/medium.com\/swaperry)<\/p>\n\n\n\n

Gold\nRocket | Satoshi Club: <\/strong>Great thanks 👌<\/p>\n\n\n\n

Gold\nRocket | Satoshi Club: <\/strong>Ready to proceed to the next question?<\/p>\n\n\n\n

Phil\nDang | Swaperry: <\/strong>Yes!<\/p>\n\n\n\n

Q5 from Telegram User @nhairym<\/em><\/strong><\/p>\n\n\n\n

SwaPerry offers us a set of tools that help traders\nto analyze the market, add prices and make decisions, the DEX have been\nincreasing their space at a fairly rapid rate, however the CEX are still in\nforce in the market and with a high proportion of users; What CEX strategies\nand protocols do you think could be applied in DEX to create a more unified\nfinancial system that satisfies traditional and current demands? Polkadot\nprovides them with the perfect ecosystem to develop all the strategies and\nproposals to achieve their ambitious but achievable plans and goal of showing\nthe world that CEX is the past and DEX is the future?<\/em><\/p>\n\n\n\n

Phil\nDang | Swaperry: <\/strong>@Nhairym You’re correct that current DEXes have a\nfew limitations.<\/p>\n\n\n\n

Phil\nDang | Swaperry: <\/strong>For example, transaction speeds tend to be much\nslower and more expensive.  The products\nare not intuitive at all.  They don’t\nhave any cross-chain support.  And they\ndon’t have advanced features like limit order that CEXes have.<\/p>\n\n\n\n

Phil\nDang | Swaperry: <\/strong>However, we really believe that the benefits of\ndecentralization outweights them all:<\/p>\n\n\n\n

Phil\nDang | Swaperry: <\/strong>you don’t need any KYC, you don’t lose custody of\nyour assets, and you don’t have to trust the system at all, because its all\npowered by smart contracts.<\/p>\n\n\n\n

Phil\nDang | Swaperry: <\/strong>That’s why Swaperry’s mission is, as you mentioned,\nto show the world that CEXes are that past, and DEXes are the future.<\/p>\n\n\n\n

Phil\nDang | Swaperry: <\/strong>Our team works extremely hard to get rid of the 4\nlimitations I mentioned before.<\/p>\n\n\n\n

Phil\nDang | Swaperry: <\/strong>First, Swaperry is powered by Polkadot, which is a\nvery solid, scalable infastructure.<\/p>\n\n\n\n

Phil\nDang | Swaperry: <\/strong>It will allow transactions to be significant faster\nand much cheaper.<\/p>\n\n\n\n

Gold\nRocket | Satoshi Club: <\/strong>this is a quiet evolution 😁<\/p>\n\n\n\n

Phil\nDang | Swaperry: <\/strong>Second, we will have cross-chain support with other\nprojects on Polkadot, due to the multi-chain nature.<\/p>\n\n\n\n

Phil\nDang | Swaperry: <\/strong>Third, our team has managed to leverage the power of\nPolkadot to develop many advanced features previously only available on CEXes<\/p>\n\n\n\n

Phil\nDang | Swaperry: <\/strong>for example limit order, stop loss and prediction\ntrading<\/p>\n\n\n\n

Phil\nDang | Swaperry: <\/strong>And of course the goal is to demonstrate that all\nthese could be built and powered by a 100% decentralized network<\/p>\n\n\n\n

Phil\nDang | Swaperry: <\/strong>And at similar level of convenience and\nintuitiveness.<\/p>\n\n\n\n

Phil\nDang | Swaperry: <\/strong>So trust me that once our product is launched, there\nwon’t be a whole lot of reasons why people should continue to use CEXes\nanymore.<\/p>\n\n\n\n

Phil\nDang | Swaperry: <\/strong>I really expect DEXes will be the main trading\nmechanism in the future and I’d be suprised if CEXes still have such a strong\ndominant within the next 2 years.<\/p>\n\n\n\n

Gold\nRocket | Satoshi Club: <\/strong>If we talk about security, did you conduct an\naudit or hackathon?<\/p>\n\n\n\n

Phil\nDang | Swaperry: <\/strong>Of course we did<\/p>\n\n\n\n

Andr\u00e9s\nM. | Satoshi Club: <\/strong>Hi @danghoa1, happy to be here with you, it seems\nthat powerful features are coming to be part of Swaperry, could you share the\nwhole roadmap to check every event coming?😃<\/p>\n\n\n\n

Phil\nDang | Swaperry: <\/strong>As a DEX, it is critical that our software needs to\nbe robust and highly secured.<\/p>\n\n\n\n

Gold\nRocket | Satoshi Club: <\/strong>And what results did you get?<\/p>\n\n\n\n

Phil\nDang | Swaperry: <\/strong>We currently have a few security experts acting as\nour technical advisors just for this matter. \nAt the same time, we hired a third-party security company well known in\nthe industry, CertiK, to audit all of our smart contracts.<\/p>\n\n\n\n

Phil\nDang | Swaperry: <\/strong>CertiK is the audit company behind major projects\nlike PancakeSwap, Binance & Polygon,<\/p>\n\n\n\n

Phil\nDang | Swaperry: <\/strong>so while no one can guarantee 100% bug-free\nsoftware, we feel confident to leave the matter in their hand.<\/p>\n\n\n\n

Phil\nDang | Swaperry: <\/strong>And great news, we’ve passed their security bar<\/p>\n\n\n\n

Gold\nRocket | Satoshi Club: <\/strong>Safety first 👌<\/p>\n\n\n\n

Phil\nDang | Swaperry: <\/strong>Please be assured that we will only launch our\nproduct once we have prefected our software security<\/p>\n\n\n\n

Phil\nDang | Swaperry: <\/strong>Yes, this is absolutely important<\/p>\n\n\n\n

Phil\nDang | Swaperry: <\/strong>Hi Andres, of course.<\/p>\n\n\n\n

Phil\nDang | Swaperry: <\/strong>You can check on our website right now<\/p>\n\n\n\n

Phil\nDang | Swaperry: <\/strong>We do include our roadmap there<\/p>\n\n\n\n

Phil\nDang | Swaperry: <\/strong>swaperry.com<\/p>\n\n\n\n

Andr\u00e9s\nM. | Satoshi Club: <\/strong>Thank you, I’ll do<\/p>\n\n\n\n

Gold\nRocket | Satoshi Club: <\/strong>Thanks for your answers<\/p>\n\n\n\n

Phil\nDang | Swaperry: <\/strong>Youre absolutely welcome<\/p>\n\n\n\n

Gold\nRocket | Satoshi Club: <\/strong>We have last question before opening chat😊 let’s\nproceed🚀<\/p>\n\n\n\n

Andr\u00e9s\nM. | Satoshi Club: <\/strong>Yes, complete and detailed answers, that’s what our\ncommunity needs 😁<\/p>\n\n\n\n

Gold\nRocket | Satoshi Club: <\/strong>Shoot please🚀<\/p>\n\n\n\n

Q6 from Telegram User @Right_clicK1<\/em><\/strong><\/p>\n\n\n\n

PERRY will function as the native utility token of\nswaperry .In the explanation of Perry tokenomics, it was stated that 20% of\ntotal supply was allocated for private sale which took place in Q2 2021 and 1%\nfor public sale. You raised $1.6Million in the private sale, I want to know how\ndo you want to raise more than that in public sale when its allocation is not\neven up to half of private sale, how do you want to handle the upcoming sale in\norder to achieve more funds than the previous sale? Where and how are users\ngoing to participate in the public sale since Mainnet V1.0 is stated to be\nlaunched this quarter after public sale? Can you give more details about the\nsale?<\/em><\/p>\n\n\n\n

Gold\nRocket | Satoshi Club: <\/strong>partially answered<\/p>\n\n\n\n

Phil\nDang | Swaperry: <\/strong>Right I did address some of these<\/p>\n\n\n\n

Gold\nRocket | Satoshi Club: <\/strong>but we are waiting for interesting details 😁<\/p>\n\n\n\n

Phil\nDang | Swaperry: <\/strong>Our IDO public sale allocation is $100,000<\/p>\n\n\n\n

Phil\nDang | Swaperry: <\/strong>This sale will take place on Redkite<\/p>\n\n\n\n

Phil\nDang | Swaperry: <\/strong>The PERRY tokens will then be listed on exchanges\nsoon after<\/p>\n\n\n\n

Phil\nDang | Swaperry: <\/strong>likely within the same day<\/p>\n\n\n\n

Phil\nDang | Swaperry: <\/strong>After IDO, we are no longer actively raising funds<\/p>\n\n\n\n

Phil\nDang | Swaperry: <\/strong>$1.6M is more than enough to give us the runway we\nneed<\/p>\n\n\n\n

Andr\u00e9s\nM. | Satoshi Club: <\/strong>What will be the sale price of $PERRY?<\/p>\n\n\n\n

Phil\nDang | Swaperry: <\/strong>Then, we rely on our revenue collected from\nprediction trading and our DEX<\/p>\n\n\n\n

Phil\nDang | Swaperry: <\/strong>It will be $0.05 \/ PERRY, at IDO<\/p>\n\n\n\n

Phil\nDang | Swaperry: <\/strong>And as I mentioned, this will happen on Redkite<\/p>\n\n\n\n

Part 2 \u2014 live questions from\nthe Telegram community <\/strong><\/h2>\n\n\n\n

Q1 from Telegram User @xperia3<\/em><\/strong><\/p>\n\n\n\n

Swaperry aim to take the advantages of CEX and strengthen DEX. While doing this, will Swaperry sacrifice some part of its decentralization? Do Swaperry target to be a mix of DEX and CEX which is commonly called CeDeFi or do you really aim to stay decentralized?<\/em><\/p>\n\n\n\n

Phil Dang | Swaperry: <\/strong><\/strong><\/p>\n\n\n\n

We do aim to be 100% decentralized. We don’t believe in a middleground here. If the product is not 100% decentralized, then it is centralized. Which is why its hard to overstate the achievements we’ve made in building limit order. Other DEXes that claimed to offer that, really just used some form of an off-chain system. For us, it is entirely decentralized<\/p>\n\n\n\n

Q<\/em><\/strong>2<\/em><\/strong> from Telegram User <\/em><\/strong>@RahulGandhi59<\/em><\/strong><\/p>\n\n\n\n

I could notice that in their roadmap they indicate that this Q3 will be made its public sale through IDO, and that after this they will carry out the audit process, right? But really why wait to complete the IDO to audit your contract? Shouldn’t they be done earlier to provide greater reliability to investors?<\/em><\/p>\n\n\n\n

Phil Dang | Swaperry: <\/strong><\/strong><\/p>\n\n\n\n

We have actually already carried out the audit<\/p>\n\n\n\n

Q<\/em><\/strong>3<\/em><\/strong> from Telegram User <\/em><\/strong>@Smartling<\/em><\/strong><\/p>\n\n\n\n

So what will Swaperry compensate me with if I lose or do I have to just lose out completely?<\/em><\/p>\n\n\n\n

Phil Dang | Swaperry: <\/strong><\/strong><\/p>\n\n\n\n

If you predict incorrectly, you will still have a chance to win a lottery in the pool. And you could still earn NFT achievements<\/p>\n\n\n\n

Q<\/em><\/strong>4<\/em><\/strong> from Telegram User <\/em><\/strong>@Robotliker1<\/em><\/strong><\/p>\n\n\n\n

What is your project strategy to educate and increase awareness in the global level who are non english speakers? Do you have any ambassador program for different countries?<\/em><\/p>\n\n\n\n

Phil Dang | Swaperry: <\/strong><\/strong><\/p>\n\n\n\n

Yes, we do work with ambassadors to represent us in non-English speaking countries. like China, Korea, Jpan<\/p>\n\n\n\n

Q<\/em><\/strong>5<\/em><\/strong> from Telegram User <\/em><\/strong>@highpee<\/em><\/strong><\/p>\n\n\n\n

One of your first set of products is PREDICTION TRADING .\u00a0 How will users use it to bet against price movement?\u00a0 Also, you said that a user that predicted correctly can win potentially disproportionate rewards. Can you provide a layman explanation to your complex rewarding model and why reward will be disproportionate rather than being proportional to users stake or position?<\/em><\/p>\n\n\n\n

Phil Dang | Swaperry: <\/strong><\/strong><\/p>\n\n\n\n

Of course, the more tickets you purchase to particpate in the predictiong pool, the more you’ll win. But what I meant by “disporportionate” is you might pay X for the ticket but win 10 or 15 or even 100 times what you paid depending on the current state of the pool<\/p>\n\n\n\n

Q<\/em><\/strong>6<\/em><\/strong> from Telegram User <\/em><\/strong>@sscpaster<\/em><\/strong><\/p>\n\n\n\n

How qualified the team members are? Do they have enough experience on blockchain and it’s related technology? Can you mention them and their background as well?<\/em><\/p>\n\n\n\n

Phil Dang | Swaperry: <\/strong><\/strong><\/p>\n\n\n\n

Most of our backgrounds are engineering. I myself am a former software engineer at Google. Our team’s CTO was also a senior software engineer at Motorola. We have a lot of crypto experts who are our advisors. For example, one of our advisors is Thi, who founded Polkafoundry, RedKite and advisor of Faraland and several other successful projects. I believe our project is in good hands!<\/p>\n\n\n\n

Q<\/em><\/strong>7<\/em><\/strong> from Telegram User <\/em><\/strong>@Emidm28<\/em><\/strong><\/p>\n\n\n\n

You mentioned that as Polkadot is currently under development, your prediction trading will be launched on Binance Smart Chain, and will be the first product in the Swaperry platform. Once the development of Polkadot is completed, will it also be launched on Polkadot?<\/em><\/p>\n\n\n\n

Phil Dang | Swaperry: <\/strong><\/strong><\/p>\n\n\n\n

Yes of course. Prediction trading can take place on different blockchains too, but the focus for our DEX is still Polkadot<\/p>\n\n\n\n

Q<\/em><\/strong>8<\/em><\/strong> from Telegram User <\/em><\/strong>@Sharajelln2<\/em><\/strong><\/p>\n\n\n\n

i haved stumbled across the topic of blockchain with my colleagues at Google many times, but last year was when I was heavily drawn into by it you said.<\/em><\/p>\n\n\n\n

\u00a0do you think now YOU are success??\u00a0 What’s\u00a0 the difference now and then?<\/em><\/p>\n\n\n\n

Phil Dang | Swaperry: <\/strong><\/strong><\/p>\n\n\n\n

Great question.\u00a0 So far I think my choice to leave has been correct, but it all depends on the success of our launch too!\u00a0 Which is why I’d love to have you and this community join us on this journey 🙂<\/p>\n\n\n\n

Q<\/em><\/strong>9<\/em><\/strong> from Telegram User <\/em><\/strong>@K2ice<\/em><\/strong><\/p>\n\n\n\n

Do I need to continue buying an UP ticket or a DOWN ticket to predict the direction of an asset for each prediction or I will just have to buy a ticket once for all my predictions?<\/em><\/p>\n\n\n\n

Phil Dang | Swaperry: <\/strong><\/strong><\/p>\n\n\n\n

Each pool has an expiry date. For example, say 1 week\/So you can buy as many tickets as you’d like, but it’ll all be wrapped up within a week<\/p>\n\n\n\n

Q1<\/em><\/strong>0<\/em><\/strong> from Telegram User <\/em><\/strong>@bathulosnom<\/em><\/strong><\/p>\n\n\n\n

The blockchain industry is one that changes really quickly. So, in future if there is another project with more innovation come what will you do? Do you think you can change yourself as the technology changed?<\/em><\/p>\n\n\n\n

Phil Dang | Swaperry: <\/strong><\/strong><\/p>\n\n\n\n

I sincerely hope so.\u00a0 While I can’t promise to always be one of the top innovators in the industry, our team and I do intend to.\u00a0 We are here for the long run, and we wont stop until we have a well-deserved space in this industry.<\/p>\n\n\n\n

Part 3 \u2013 Quiz\nResults<\/strong><\/h2>\n\n\n\n

In the final part we tested your knowledge in terms of Swaperry. They\u2019ve prepared 4 questions for this part. The total reward pool for quiz was 300$.<\/p>\n\n\n\n

For more information and\nfuture AMAs, join our Social Media channels:<\/strong>
\nEnglish Telegram group: https:\/\/t.me\/Satoshi_club<\/a>
\nRussian Telegram group: https:\/\/t.me\/satoshi_club_ru<\/a><\/p>\n\n\n\n

Spanish Telegram group: https:\/\/t.me\/satoshi_club_spanish<\/a>
\nTelegram Channel: https:\/\/t.me\/satoshi_club_channel<\/a>
\nTwitter: https:\/\/twitter.com\/realsatoshiclub<\/a>
\nWebsite: https:\/\/esatoshi.club\/<\/a><\/p>\n\n\n\n

Our partners:<\/strong><\/p>\n\n\n\n

Swaperry Website \u2013\u00a0swaperry.com<\/a>
Swaperry Telegram \u2013\u00a0@swaperry<\/a> <\/p>\n","protected":false},"excerpt":{"rendered":"

We were delighted to welcome our guest from Swaperry . The AMA took place on August 9th, 2021 and our guest was @danghoa1. The total reward pool was 500$ and was divided into three parts. In this AMA Recap we will try to summarize some of the most interesting points for you. Part 1 \u2014 […]<\/p>\n","protected":false},"author":34,"featured_media":11291,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[],"tags":[],"_links":{"self":[{"href":"https:\/\/satoshi-club.esipick.com\/index.php\/wp-json\/wp\/v2\/posts\/11290"}],"collection":[{"href":"https:\/\/satoshi-club.esipick.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/satoshi-club.esipick.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/satoshi-club.esipick.com\/index.php\/wp-json\/wp\/v2\/users\/34"}],"replies":[{"embeddable":true,"href":"https:\/\/satoshi-club.esipick.com\/index.php\/wp-json\/wp\/v2\/comments?post=11290"}],"version-history":[{"count":2,"href":"https:\/\/satoshi-club.esipick.com\/index.php\/wp-json\/wp\/v2\/posts\/11290\/revisions"}],"predecessor-version":[{"id":11293,"href":"https:\/\/satoshi-club.esipick.com\/index.php\/wp-json\/wp\/v2\/posts\/11290\/revisions\/11293"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/satoshi-club.esipick.com\/index.php\/wp-json\/wp\/v2\/media\/11291"}],"wp:attachment":[{"href":"https:\/\/satoshi-club.esipick.com\/index.php\/wp-json\/wp\/v2\/media?parent=11290"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/satoshi-club.esipick.com\/index.php\/wp-json\/wp\/v2\/categories?post=11290"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/satoshi-club.esipick.com\/index.php\/wp-json\/wp\/v2\/tags?post=11290"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}