Hello, Satoshi clubbers Another AMA took place in Satoshi Club and we would like to introduce to you the AMA session with our friends from Cyclos and our guest was . The AMA took place on the 25th of February<\/p>\n\n\n\n
The AMA session was divided into 3 parts with a total crypto reward pool of $500<\/p>\n\n\n\n
In this AMA Recap, we will try to summarise the most interesting points for you.<\/p>\n\n\n\n
Jonah <\/strong>🏅🎹<\/strong>\n| Satoshi Club<\/strong><\/p>\n\n\n\n Hello Dear Satoshiclubbers welcome to our ANA session with\nCYCLOS<\/p>\n\n\n\n Robocop | Satoshi Club<\/strong><\/p>\n\n\n\n Hello Satoshi Club community ! We are pleased to announce\ntoday AMA with Cyclos<\/p>\n\n\n\n Jonah <\/strong>🏅🎹<\/strong>\n| Satoshi Club<\/strong><\/p>\n\n\n\n Our guest today is @oxhantu<\/p>\n\n\n\n Hello welcome to satoshi club<\/p>\n\n\n\n Robocop | Satoshi Club<\/strong><\/p>\n\n\n\n Glad to have you here, how are you today ? @oxhantu<\/p>\n\n\n\n Daniel<\/strong><\/p>\n\n\n\n Doing well thanks<\/p>\n\n\n\n Jonah <\/strong>🏅🎹<\/strong>\n| Satoshi Club<\/strong><\/p>\n\n\n\n Great.. Let’s proceed to our AMA <\/p>\n\n\n\n Can you please introduce yourself to us how you got into\ncrypto, and how CYCLOS started?<\/p>\n\n\n\n Robocop | Satoshi Club<\/strong><\/p>\n\n\n\n Welcome back to Satoshi Club , i remember Cyclos already do\nAMA on september 2021, but can you introduce again yourself to our new member ?<\/p>\n\n\n\n Daniel<\/strong><\/p>\n\n\n\n Sure. I entered crypto in 2017 as head of research with a\nlarge crypto media company and moved over to Binance in 2019 to work with\nlistings and investment. I’ve always\nbeen interested in how crypto can revolutionize money so when DeFi came to the\nforefront, I became very interested in launching a project that would\ncontribute to innovation on this front. That’s where Cyclos came in. <\/p>\n\n\n\n Myself and Shardul (co-founder) took what we felt were all\ncutting edge ideas in DeFi and combined them together- concentrated liquidity\n(letting liquidity providers choose the price range where their assets make\norders) + solana blockchain. <\/p>\n\n\n\n The first version of Cyclos was meant to concentrate\nliquidity on Serum’s order books. However, when we launched the v1 mainnet, we\nweren’t satisfied with the Serum integration. So we decided to go back to he\ndrawing board and build a concentrated liquidity market maker that stands on\nits own.<\/p>\n\n\n\n Jonah <\/strong>🏅🎹<\/strong>\n| Satoshi Club<\/strong><\/p>\n\n\n\n Impressive Background <\/p>\n\n\n\n Can you give us a brief intro of what Cyclos is all about?<\/p>\n\n\n\n Robocop | Satoshi Club<\/strong><\/p>\n\n\n\n Thats really great ! you have a great background and\nexperience<\/p>\n\n\n\n Daniel<\/strong><\/p>\n\n\n\n Sure. We are an AMM (automated market maker) built on\nSolana. However, we use a new function for fulfilling swap orders called\nconcentrated liquidity. The basic idea is that if you want to put your idle\nassets to work to earn a yield on Solana, you can come to Cyclos and choose the\nprice range where those assets are active. <\/p>\n\n\n\n For example, I might choose to provide liquidity on a\nSOL-USDC pair with a price range of $80 USDC per SOL to $100 USDC per SOL. This\nmeans that 100% of my assets are being used to fulfil traders’ orders in this\nprice range. This results in higher yields for me as a liquidity provider, and\nmuch less slippage and price impact for traders. It’s a win win all around.<\/p>\n\n\n\n Jonah <\/strong>🏅🎹<\/strong>\n| Satoshi Club<\/strong><\/p>\n\n\n\n At the moment how many Team members do you have working on\nthis project?<\/p>\n\n\n\n Daniel<\/strong><\/p>\n\n\n\n The cool thing is, as we open up new pools, the opportunity\nto earn from traders’ fees is huge in the beginning even without liquidity\nmining incentives because your rewards are distributed according to the portion\nof the pool you provide.<\/p>\n\n\n\n We have 4 devs an 2 on operations<\/p>\n\n\n\n Robocop | Satoshi Club<\/strong><\/p>\n\n\n\n Thank you for the great intro , shall we go to part 1 with 6\nquestion from community?<\/p>\n\n\n\n Daniel<\/strong><\/p>\n\n\n\n sure let’s go ahead<\/p>\n\n\n\n Robocop | Satoshi Club<\/strong><\/p>\n\n\n\n Q1 from Telegram user @Ecmq10<\/em><\/p>\n\n\n\n Hello Cyclos team. You mention that Cyclos is an AMM that solves the problem of capital inefficiency and maximizes returns for liquidity providers. Please tell us, how does Cyclos achieve this? What are the tools that Cyclos uses to solve this problem? How does being built on top of Solana help Cylos in dealing with the problem of capital inefficiency? For what reasons did you decide to choose Solana instead of another blockchain? Thank you!<\/em><\/p>\n\n\n\n Daniel<\/strong><\/p>\n\n\n\n So I guess I already answered the first part of this in the\nintroduction regarding capital efficiency, as that is the core value offering\nof the product. <\/p>\n\n\n\n Let’s move onto the Solana part. The biggest way building on\nSolana benefits us is that there is very little in the way of fees to stop 1.\nholders of any size providing liquidity on Cyclos 2. liquidity providers moving\ntheir positions around as prices change. These are two massive barriers on\nEthereum for example which make it extremely expensive to use concentrated\nliquidity.<\/p>\n\n\n\n So part of our reasoning for launching on Solana in that\nregard was technical. The other was business oriented. We saw an opening to\nbuild something that hadn’t been built yet on Solana, so we jumped at it.<\/p>\n\n\n\n Jonah <\/strong>🏅🎹<\/strong>\n| Satoshi Club<\/strong><\/p>\n\n\n\n This gives you a first mover advantage on Solana <\/p>\n\n\n\n But Along the line do you plan on integrating other chains\nas well?<\/p>\n\n\n\n Daniel<\/strong><\/p>\n\n\n\n Yes. we are actively working on that front at the moment.<\/p>\n\n\n\n Robocop | Satoshi Club<\/strong><\/p>\n\n\n\n yes, high gas fee from ETH really expensive and this is\nsomething new for Solana Blockchain <\/p>\n\n\n\n Jonah <\/strong>🏅🎹<\/strong>\n| Satoshi Club<\/strong><\/p>\n\n\n\n Awesome what chains are you working on?<\/p>\n\n\n\n Daniel<\/strong><\/p>\n\n\n\n In our case it is particularly important, because liquidity\nproviders pay a gas fee every time they add liquidity and change their position<\/p>\n\n\n\n So in our case, since solana is low cost, capital should be\nable to move much more quickly around to different price ranges where it is\nneeded<\/p>\n\n\n\n We will announce the chain when the time is right <\/p>\n\n\n\n Jonah <\/strong>🏅🎹<\/strong>\n| Satoshi Club<\/strong><\/p>\n\n\n\n We will be on the lookout for this <\/p>\n\n\n\n Thank you for your answers<\/p>\n\n\n\n Robocop | Satoshi Club<\/strong><\/p>\n\n\n\n Please don’t forget to share with Satoshi Club<\/p>\n\n\n\n Robocop | Satoshi Club<\/strong><\/p>\n\n\n\n Let us continue to next question ?<\/p>\n\n\n\n Robocop | Satoshi Club<\/strong><\/p>\n\n\n\n Q2 from Telegram user @chinyere2020<\/em><\/p>\n\n\n\n I learnt that the $CYS staking feature is now live on your V2 UI. Can you give more information about the $CYS staking feature? What is the minimum amount of $CYS tokens that users are eligible to stake? How long must users lock their tokens before they can withdraw their earnings? Will the APR% your staking pool be fixed or will it depend on certain market factors? Apart from the staking yield, are there other benefits that users who stake their $CYS tokens will enjoy?<\/em><\/p>\n\n\n\n Daniel<\/strong><\/p>\n\n\n\n There is no minimum amount that can be staked. Users have a\nchoice- lock with no time and earn 25%. Or, they can lock their holdings for 4\nmonths and earn 75-100% APR.<\/p>\n\n\n\n Once we deploy more pools, we will begin distributing a\nshare of the revenue from Cyclos directly to CYS stakers<\/p>\n\n\n\n Daniel<\/strong><\/p>\n\n\n\n we will also implement governance<\/p>\n\n\n\n Robocop | Satoshi Club<\/strong><\/p>\n\n\n\n Can you please share the tokenomics $CYS token ?<\/p>\n\n\n\n Jonah <\/strong>🏅🎹<\/strong>\n| Satoshi Club<\/strong><\/p>\n\n\n\n Btw How many pools are available at the moment?<\/p>\n\n\n\n Daniel<\/strong><\/p>\n\n\n\n You can check it out on our site: https:\/\/cyclos.io\/<\/p>\n\n\n\n We have USDT-USDC and CYS-USDC pools live<\/p>\n\n\n\n Daniel<\/strong><\/p>\n\n\n\n we’ll be launching more shortly<\/p>\n\n\n\n Jonah <\/strong>🏅🎹<\/strong>\n| Satoshi Club<\/strong><\/p>\n\n\n\n Great <\/p>\n\n\n\n Jonah <\/strong>🏅🎹<\/strong>\n| Satoshi Club<\/strong><\/p>\n\n\n\n Thank you for your answers<\/p>\n\n\n\n Robocop | Satoshi Club<\/strong><\/p>\n\n\n\n Thank you for the answer <\/p>\n\n\n\n Jonah <\/strong>🏅🎹<\/strong>\n| Satoshi Club<\/strong><\/p>\n\n\n\n Are you Ready for the next question now?<\/p>\n\n\n\n Daniel<\/strong><\/p>\n\n\n\n yep<\/p>\n\n\n\n Robocop | Satoshi Club<\/strong><\/p>\n\n\n\n Q3 from Telegram user @QuianaV<\/em><\/p>\n\n\n\n Cyclos proudly officially introduced CycloSwap, the most advanced swap interface on solana. Can you explain more on CycloSwap and its unique advanced features that makes it different from traditional Swapping applications\/Dapps? Are users required to hold the any tokens in order to use CycloSwap? How many swapping Pairs does Cyclos Swap currently supports? Can you share on how cost effective is CycloSwap in terms of gas fees consumed during swapping?<\/em><\/p>\n\n\n\n Daniel<\/strong><\/p>\n\n\n\n Our new swap CycloSwap is live on our concentrated pools. I\ndon’t know the exact amount of gas it consumes, but it is around a few cents.\nRight now as just mentioned, we have USDC-USDT and our native token CYS-USDC.\nWe will be adding more pairs soon with the release of our audit report. What\nmakes CycloSwap different is that it uses concentrated liquidity pools to\nconduct swaps, rather than the old style pools which are much less efficient<\/p>\n\n\n\n Jonah <\/strong>🏅🎹<\/strong>\n| Satoshi Club<\/strong><\/p>\n\n\n\n How many audits have you done?<\/p>\n\n\n\n Daniel<\/strong><\/p>\n\n\n\n We’re doing 1. We’ve conducted extensive testing on the\nproduct as well.<\/p>\n\n\n\n Robocop | Satoshi Club<\/strong><\/p>\n\n\n\n beside Cycloswap, what other feature that you will have in the near future ? how about\nNFT ? <\/p>\n\n\n\n Daniel<\/strong><\/p>\n\n\n\n Our liquidity positions are actually NFTs.<\/p>\n\n\n\n In the future, we will implement staking for these NFT\npositions<\/p>\n\n\n\n Jonah <\/strong>🏅🎹<\/strong>\n| Satoshi Club<\/strong><\/p>\n\n\n\n Awesome<\/p>\n\n\n\n Jonah <\/strong>🏅🎹<\/strong>\n| Satoshi Club<\/strong><\/p>\n\n\n\n Thank you for your answers <\/p>\n\n\n\n Ready to proceed to the next question?<\/p>\n\n\n\n Robocop | Satoshi Club<\/strong><\/p>\n\n\n\n Thank you for the detail answer, do you want to add\nsomething or we can go to next question?<\/p>\n\n\n\n Daniel<\/strong><\/p>\n\n\n\n next question works <\/p>\n\n\n\n Robocop | Satoshi Club<\/strong><\/p>\n\n\n\n Q4 From Telegram User @Modrumz120<\/em><\/p>\n\n\n\n From Cyclos website, i learnt that Liquidity providers place their assets at price intervals of their choice i.e. \u201cconcentrating\u201d their liquidity. Concentrated Liquidity gives liquidity providers total freedom in how they distribute their liquidity and rewards them for meeting market demand. I\u2019m curious to know,who are these liquidity providers and can a user be able to be a liquidity provider too?What are the requirements needed for users to be able to become liquidity providers in the Cyclos platform? What are other benefits which liquidity providers can benefit from in the Cyclos eco-system? Thank you.<\/em><\/p>\n\n\n\n Daniel<\/strong><\/p>\n\n\n\n Great question. Liquidity providers are anyone- you, me, any\ncrypto holder can provide liquidity. All that means is if you have some assets\nin your wallet that aren’t earning, and you want to put them to work, you can\n“provide liquidity”. Other traders come to Cyclos and want to\nexchange, for example, USDT to USDC. If there is no liquidity there inside the\nCyclos program, we can’t offer them a trade. That’s where liquidity providers\ncome in. Anyone with USDC and USDT can open up Cyclos, (https:\/\/app.cyclos.io),\nclick on “pool”, and add their assets in a specific price range. In\nthe case of USDT-USDC it’s easy to select the price, because these two assets\ntend to remain around $0.98 and $1.01. Your assets will sit in the protocol and\nas traders come, they will be used to meet swap demand. As your assets are\ntraded back and forth, you will earn a fee as a reward for providing liquidity.<\/p>\n\n\n\n In addition to the fees, we will also be launching liquidity\nmining. This will allow LPs (liquidity providers) to earn an extra incentive in\nCYS on top of the fees they collect as a reward for providing liquidity.<\/p>\n\n\n\n Jonah <\/strong>🏅🎹<\/strong>\n| Satoshi Club<\/strong><\/p>\n\n\n\n Well detailed <\/p>\n\n\n\n What percentage of the fees do you distribute to liquidity\nproviders?<\/p>\n\n\n\n Daniel<\/strong><\/p>\n\n\n\n 60% of all fees go to them<\/p>\n\n\n\n Robocop | Satoshi Club<\/strong><\/p>\n\n\n\n if we provide liquidity, does it have penalty if we want\ntake it back or we can take anytime we want? i mean do we need time contract\n(for example 1 year) to provide liquidity?<\/p>\n\n\n\n Daniel<\/strong><\/p>\n\n\n\n There is no penalty. That’s why the low gas fees of Solana\nare so important. Let’s say you provide liquidity on SOL-USDC between $80-$90\nUSDC\/SOL, and the price suddenly drops. You can change your position so that\nnow your liquidity is in the right price range.<\/p>\n\n\n\n Of course, you could also spread the liquidity out more\nthinly from the beginning in a wider range, but if the price of SOL remains\nfairly stable, you won’t earn as much because you will have some idle assets.<\/p>\n\n\n\n Jonah <\/strong>🏅🎹<\/strong>\n| Satoshi Club<\/strong><\/p>\n\n\n\n Thank you for clarifying this<\/p>\n\n\n\n Daniel<\/strong><\/p>\n\n\n\n for sure<\/p>\n\n\n\n Jonah <\/strong>🏅🎹<\/strong>\n| Satoshi Club<\/strong><\/p>\n\n\n\n Ready for the 5th question now?<\/p>\n\n\n\n Daniel<\/strong><\/p>\n\n\n\n yessir<\/p>\n\n\n\n Robocop | Satoshi Club<\/strong><\/p>\n\n\n\n Thank you for the detail answer <\/p>\n\n\n\n Robocop | Satoshi Club<\/strong><\/p>\n\n\n\n Q5 From Telegram User @Ritshimwa<\/em><\/p>\n\n\n\n Cyclos recently introduced the Cyclos evangelist program to attract newcomers and Promote Cyclos. Can you explain on Cyclos Evangelist Program and functions of users who apply and are selected as Cyclos Evangelist? What are the benefits, incentives which Cyclos Evangelist are entitled to as they promote the Cyclos Platform? What are other future strategies by the Cyclos Platform in order to create more awareness about the Cyclos Platform?<\/em><\/p>\n\n\n\n Daniel<\/strong><\/p>\n\n\n\n Yes sure. So anyone from the community can apply to be an\nevangelist. We recently opened up a form for expressions of interest to gauge\nhow much enthusiasm there is from the community. There is a lot of enthusiasm\nluckily <\/p>\n\n\n\n The whole idea behind the evangelist program is that we want\nto draw on our community to help explain to others in their own languages how\nto take advantage of the Cyclos product- i.e. how to conduct trades and\nimportantly, provide liquidity. As you have probably noticed from this AMA,\nliquidity provision is a concept not many people are familiar with (even though\nit’s a great way to earn on your assets) so we want to spread that message out\nas much as possible. <\/p>\n\n\n\n The content with the best quality and highest social media\nreach each month will be rewarded with CYS tokens.<\/p>\n\n\n\n Daniel<\/strong><\/p>\n\n\n\n We will be releasing the details of that as soon as new\npools are live<\/p>\n\n\n\n Jonah <\/strong>🏅🎹<\/strong>\n| Satoshi Club<\/strong><\/p>\n\n\n\n Great.. do you have a targeted number of evengelists in\nmind?<\/p>\n\n\n\n Robocop | Satoshi Club<\/strong><\/p>\n\n\n\n why its name Evangelist ? its take from evangelion ? <\/p>\n\n\n\n Daniel<\/strong><\/p>\n\n\n\n Evangelist is an English word for person that spreads a\nmessage <\/p>\n\n\n\n Robocop | Satoshi Club<\/strong><\/p>\n\n\n\n oh haha ok thank you for the explanation<\/p>\n\n\n\n Robocop | Satoshi Club<\/strong><\/p>\n\n\n\n @oxHantu how about this ? do you have target for Evangelist\n? how many Evangelist do Cyclos want to have?<\/p>\n\n\n\n Daniel<\/strong><\/p>\n\n\n\n We don’t have a target. As many as possible<\/p>\n\n\n\n Jonah <\/strong>🏅🎹<\/strong>\n| Satoshi Club<\/strong><\/p>\n\n\n\n Great.. <\/p>\n\n\n\n Robocop | Satoshi Club<\/strong><\/p>\n\n\n\n Thank you for the answer <\/p>\n\n\n\n Jonah <\/strong>🏅🎹<\/strong>\n| Satoshi Club<\/strong><\/p>\n\n\n\n Let’s proceed to the last question for this part <\/p>\n\n\n\n Robocop | Satoshi Club<\/strong><\/p>\n\n\n\n Q6 From Telegram User @jameslekan664<\/em><\/p>\n\n\n\n Hello!<\/em><\/p>\n\n\n\n Security is of Paramount importance for every DeFi project because this tends to give users a high level of trust in the project. Going through your road map, one of the objectives listed for last month being January is to begin the bug bounty program and that caught my attention. Can you elaborate on your bug bounty program? As a hacker that wants to participate, what criteria must be met? Is the program currently ongoing and how can I participate? What rewards will the bug hunters get?<\/em><\/p>\n\n\n\n Daniel<\/strong><\/p>\n\n\n\n There are no specific criteria. We will be open sourcing the code, and will release the details of rewards for different types of bugs. There will be a range of rewards depending on the type. If you are interested in participating, please follow us on Twitter: https:\/\/twitter.com\/cyclosfi<\/a> and Telegram https:\/\/t.me\/cyclosofficial<\/a><\/p>\n\n\n\n Jonah <\/strong>🏅🎹<\/strong>\n| Satoshi Club<\/strong><\/p>\n\n\n\n Has the date for this been announced?<\/p>\n\n\n\n Daniel<\/strong><\/p>\n\n\n\n not yet<\/p>\n\n\n\n Robocop | Satoshi Club<\/strong><\/p>\n\n\n\n Thank you Daniel ! it has been an amazing time in this first part of the AMA<\/p>\n\n\n\n Jonah <\/strong>🏅🎹<\/strong>\n| Satoshi Club<\/strong><\/p>\n\n\n\n Thank you for your answers so far<\/p>\n\n\n\n We will now proceed to the second part of our AMA<\/p>\n\n\n\n Our users are eager to ask you their questions directly <\/p>\n\n\n\n Jonah <\/strong>🏅🎹<\/strong>\n| Satoshi Club<\/strong><\/p>\n\n\n\n Are you ready for them?<\/p>\n\n\n\n Robocop | Satoshi Club<\/strong><\/p>\n\n\n\n Before we open the chat, can you please share the important\nlink or social media<\/p>\n\n\n\n from Cyclos? @oxhantu<\/p>\n\n\n\n Daniel<\/strong><\/p>\n\n\n\n sure<\/p>\n\n\n\n