{"id":9900,"date":"2021-06-06T10:30:33","date_gmt":"2021-06-06T07:30:33","guid":{"rendered":"https:\/\/esatoshi.club\/?p=9900"},"modified":"2021-06-06T10:39:44","modified_gmt":"2021-06-06T07:39:44","slug":"apyswap-x-satoshi-club-ama-recap-from-1st-of-june","status":"publish","type":"post","link":"https:\/\/satoshi-club.esipick.com\/index.php\/2021\/06\/06\/apyswap-x-satoshi-club-ama-recap-from-1st-of-june\/","title":{"rendered":"APYSwap x Satoshi Club AMA Recap from 1st of June"},"content":{"rendered":"\n

Welcome to another episode of our AMA\nseries. Today we are glad to tell you about the AMA session with our friends\nfrom APYSwap<\/a>, a\nprotocol for the decentralised exchange of shares of Tokenized Vaults. The AMA took place on June 1 and our guest was\nAndriy.<\/p>\n\n\n\n

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

\n\n\n\n

PART 1, INTRODUCTION AND COMMUNITY\nQUESTIONS<\/strong><\/p>\n\n\n\n

Gold Rocket | Satoshi Club: <\/strong>Hello, dear community! We are pleased\nto announce AMA with APYSwap. Today our guest is @avelykyy!<\/p>\n\n\n\n

Andriy | Apyswap.com: <\/strong>Hey, pleasure to be here, thank you so much\nfor inviting.<\/p>\n\n\n\n

Gold Rocket | Satoshi Club: <\/strong>Introduce yourself please. How did you\nget to be involved in crypto & APYSwap?<\/p>\n\n\n\n

Andriy | Apyswap.com: <\/strong>Sure, let me give a brief intro. I came to IT\nin 2002, have been building data centers mostly, specializing in networking.\nUsed to be Cisco Certified Network Professional. Now in 2006\/2007 finished\nWarwick Business School in UK and switched from engineering to business\ndevelopment.<\/p>\n\n\n\n

Came to crypto in 2015, started\nwith building mining farms (looked same to me as data centers) then worked on\nintegration of crypto payment with Point of sale devices (NCR included), cyber\nsecurity, non-custodial multi chain crypto wallets. In 2020 started digging\ninto DeFi, found that it there is a demand for cross chain solutions, started\nworking on Apyswap together with my partner and CTO Yuriy Savchenko who has and\noutsource development company Noisy Miner, worked with Solana core team and\nwith me on POS integration and crypto wallets<\/p>\n\n\n\n

And in 2021 we started working on\nbridging non EVM compatible chains (starting with Solana) to EVM compatible as\na part of our work on APYSwap.<\/p>\n\n\n\n

Gold Rocket | Satoshi Club: <\/strong>I understand you set yourself very\nambitious goals.<\/p>\n\n\n\n

Andriy | Apyswap.com: <\/strong>well, I believe that while goals are\nambitious they still can realistically be achieved by our team within a\nreasonable time frame.<\/p>\n\n\n\n

Hopefully next week we will start\nrolling out Solana-ETH-BSC-Polygon-HECO bridge for our selected partners and\nbridge for all the projects interested will come in soon after governance and\nvalidation is launched. Hopefully mid-to-late summer.<\/p>\n\n\n\n

Andr\u00e9s M. | Satoshi Club:<\/strong> Great milestone, bridges are an important\ntool right now.<\/p>\n\n\n\n

Andriy | Apyswap.com: <\/strong>and most of them are only between Ethereum\nVirtual Machine supportive chains. Which is important too, but we need to think\nlarger than this. After Solana, I want to do Tezos for example, they have great\ncommunity. Cardano looks hot now too.<\/p>\n\n\n\n

Gold Rocket | Satoshi Club: <\/strong>Also we would like to know about your\nteam. Who is on the project team core?<\/p>\n\n\n\n

Andriy | Apyswap.com: <\/strong>My partner and CTO Yuriy, I have already\nmentioned. He is in charge of all the tech development, the project would be\nnot possible without him and his in depth knowledge and experience.<\/p>\n\n\n\n

Gold Rocket | Satoshi Club: <\/strong>Where is your office located?<\/p>\n\n\n\n

Andriy | Apyswap.com: <\/strong>Kiev, Ukraine, we are both from here, but our\nteam is global, some parts of it are in Vienna (Austria), Hong Kong, want to\nfind some support in the Sates too.<\/p>\n\n\n\n

Andr\u00e9s M. | Satoshi Club: <\/strong>So, for our members, what is the meaning\nof APY?<\/p>\n\n\n\n

Andriy | Apyswap.com: <\/strong>The APY stands for annual percentage yield –\nand the idea of the name of APYSwap came from our vision to make people be able\nto share the parts of their vaults on different chains effectively being able\nto transfer parts of the portfolios they created.<\/p>\n\n\n\n

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

Your new product, SolBridge will start as a bridge from Solana to the\nEVM-networks, but I saw in one of your announcements that in the future you\u2019ll\nbe establishing connections between the EVM and non-EVM networks, but with what\nend? What is the range of benefits that this will bring to your platform? Can\nyou give us some examples?<\/em><\/p>\n\n\n\n

Andriy | Apyswap.com: <\/strong>so as I mentioned above EVM bridges are\nrelatively easy to build, still are important. For example we originally\nstarted with ETH-BSC-HECO bridge. Then decided to add Solana. Now looking into\nexpanding our own bridge to other projects too. And more chains ofc. Ultimately\nwe want to help people combine their favorite (and most profitable) assests\nwithout boundaries of any specific chain they are issued. Combined and managed\nin one place. That is what we aim for.<\/p>\n\n\n\n

On this journey we are also\nsolving congestion issues of Eth which we all recently faced. But most importantly\nit is not just about saving on fees it is about making liquidity flow in and\nout other chains as needed with the user experience that does not require\nhundreds of hours of researching.<\/p>\n\n\n\n

Gold Rocket | Satoshi Club: <\/strong>Do you have any other bridges in the\nnear future?<\/p>\n\n\n\n

Andriy | Apyswap.com: <\/strong>we will start rolling out\nSolana-Ethereum-HECO-BSC next week.<\/p>\n\n\n\n

In a week we will also add Polygon,\nseems hot at the moment. Then rather then adding more chains we will focus on\ngovernance and validation process, because for now we hand pick and white list\nthe projects, and we want that service to be available for everyone, thus\nproper on chain governance is required. We are finalizing consensys algorithms,\nhopefully in July. I will publish my thoughts on that later in June so that\ncommunity can evaluate and comment on them.<\/p>\n\n\n\n

Andr\u00e9s M. | Satoshi Club: <\/strong>What about cosmos chain? Is it on plans?<\/p>\n\n\n\n

Andriy | Apyswap.com: <\/strong>yes, we are looking in. I have been early\ninvestor in Cosmos, during their ICO event managed to get in, I think it was\nmarch 2016 or something. Beed watching the project ever since.<\/p>\n\n\n\n

Q2 from Telegram User @KASG95<\/strong><\/p>\n\n\n\n

Like many other swaps, I understand that ApySwap will exchange tokens\nbetween chains, but if this is the case, then what is the real use of the\nvaults that power these exchanges? Will this \u201cenhancement\u201d really provide any\nbenefit?<\/em><\/p>\n\n\n\n

Andriy | Apyswap.com: <\/strong>Now it is important to understand that we\nhave different products within our ecosystem or as we call it \u2013 foundation. First\none that we started from is the concept of tokenized vaults – vaults where\npeople can put their assets (LP tokens, tokens, etc, even NFT) and tokenize\nthose vaults sharing parts of them.<\/p>\n\n\n\n

Second one is bridges, because as\nwe were working on our vaults we wanted to link shares from different chains\ntogether in one place. And it turned out that for some reason market does not\nhave enough bridges good enough for our purpose. After we will finalize the\nbridge part we will turn to marketplace where the vaults will be able to be\ntraded, with cross chain assets representation inside of them, linked to original\nchains using our bridges. That is the ultimate goal.<\/p>\n\n\n\n

Andr\u00e9s M. | Satoshi Club: <\/strong>Those are the main products that you\noffer, right?<\/p>\n\n\n\n

Andriy | Apyswap.com: <\/strong>yes, we started as vaults as our core product\n3 month ago, but then we understood that our scope is much more wide then just\nthe vaults. We even updated the website a few days ago to represent the changes.<\/p>\n\n\n\n

Andr\u00e9s M. | Satoshi Club: <\/strong>Btw, do you have your own token?<\/p>\n\n\n\n

Andriy | Apyswap.com: <\/strong>Yes we do have APYS token. Its main purpose\nis to be involved in the cross chain marketplace governance and for the Solana\nbridge we will have a separate Bridge token for the validators. But that is a\nsecret, don’t tell anyone just yet, we will announce it in a few days :). Of\ncourse all APYS holders will be able to stake their token on Solana chain to\nreceive the new one.<\/p>\n\n\n\n

Gold Rocket | Satoshi Club: <\/strong>Please tell us which feature are you\nmost proud of today?<\/p>\n\n\n\n

Andriy | Apyswap.com: <\/strong>Now what we did on Solana is cool, so the\ncurrent official bridgeEthereum to\nSolana is called Wormhole and it supports Solana, Ethereum and Terra. We\nalready bridged as a concept demo Solana-Ethereum-BSC-HECO-Polygon (soon)<\/p>\n\n\n\n

Wormhole guys went upset as their\narchitecture does not permit them to add chains so easily and said they will\nstop working on v1 and start working on v2 version with different architecture\n\ud83d\ude42 and what is most important is the speed – they have been working on that for\none year and half and we did tokenized vaults, all those bridges, even shared\nownership of NFTs in 3 months all together.<\/p>\n\n\n\n

Well, the announcement is still\nout there, but it soon be public, yes) you are the first non-team members to\nknow.<\/p>\n\n\n\n

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

Upon opening your website,the first message we can read is an \u201cNFT\nShares Giveaway\u201d in which it is your present to the Binance Smart Chain\ncommunity. We can claim our share in these NFT tokens and receive its value\nonce the tokens are liquidated. But why we need to connect Metamask to open it?\nWhy only Metamask,not Trustwallet or other wallet? So why Binance Community\nonly,how about the Ethereum users or Solana? Do you also have present for them?\nLastly,can you explain this statement \u201cwe can receive its value once the tokens\nare liquidated\u201d? Which token will be liquidated to receive it\u2019s value? Thank\nyou<\/em><\/p>\n\n\n\n

Andriy | Apyswap.com: <\/strong>ok, so for the wallets – yes, I believe that\nis a valid criticism and we need to add more then just a Metamask.<\/p>\n\n\n\n

Why BSC? Because this particular\nNFT event was created for BSC, later will also explain why. All the art we\ndesigned with our partners is BSC related. That ofc does not mean that we will\nnot do similar events on other chains. Why BSC this time? Because we want to\nbring those NFTs on Binance NFT Marketplace which is launching in June. So we\nkind of aligned the timing and efforts to be part of it. When it launches we\nwant to put the NFTs there, sell them, distribute the wealth from selling it to\nthose who claimed parts of the vaults<\/p>\n\n\n\n

Also I think this is the cool\nstory behind this art, all the vaults and claiming and community ownership\nwhich will bring more attention to NFTs once they are on the marketplace<\/p>\n\n\n\n

Hope that I covered all parts of\nthe question.<\/p>\n\n\n\n

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

APYSwap is providing a marketplace, where users are able to delegate\ntheir assets and Portfolio managers can actively trade on user\u2019s behalf to\ngenerate yields\u2026 this is believed to give users the opportunity to earn passive\nincome without actively managing their portfolio, so how do users delegate\ntheir assets on APYSWAP, how are the portfolio managers selected and what kinds\nof activities can they carry out on behalf of the users.<\/em><\/p>\n\n\n\n

Andriy | Apyswap.com:\n<\/strong>APYSwap is building this marketplace, not providing just yet, we plan\nmarketplace release in autumn this year, after finalizing the bridges we need\nfor it in summer this year, that is something I would like to point out – the\nmarket place is not out there just yet<\/p>\n\n\n\n

For the portfolio managers, our strategy is that we will our\nown become the first ones, then slowly add knownKOLs with a proven track record\nand only after that by verifying that our governance concept is working all\nright we will start getting external managers we dont know just yet on board.\nThey will need to lock a deposit in tokens as a “safe switch” kind of\na guarantee and\/or insurance that the projects they add to portfolios are\nlegit, not rug pull scams or something.<\/p>\n\n\n\n

Andr\u00e9s M. | Satoshi Club: <\/strong>Could you share your roadmap with us? What is the major event coming for APYswap for the second half of this year?<\/p>\n\n\n\n

Andriy | Apyswap.com: <\/strong>June: First partnership launches using Solana bridge. Adding Polygon.<\/p>\n\n\n\n

July: Finalized governance, consensus<\/p>\n\n\n\n

August: Bridge open to everyone<\/p>\n\n\n\n

September: Marketplace concept demo<\/p>\n\n\n\n

October: Marketplace beta<\/p>\n\n\n\n

November: Marketplace governance<\/p>\n\n\n\n

December: possibility of trading LP tokens on Marketplace<\/p>\n\n\n\n

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

\u201cStart winning today\nwith APYswap staking\u201d that\u2019s a big announcement on your website, it says that\nparticipants are rewarded for depositing and holding coins, so is there a way\nto receive passive incomes? Can you explain the percents in benefits and taxes\nthat will be delivered to your stakers and holders? Also, what\u2019s the participation\nof Ferrum Netwotk in all this?<\/em><\/p>\n\n\n\n

Andriy | Apyswap.com:\n<\/strong>Ferrum network was one of the investors and the first company to add their\nstaking services to us in early March.<\/p>\n\n\n\n

The pools for that event has long be fully booked then we did\na staking event with Unifarm. Our own staking event inside the tokenized\nvaults. Last but not least we recently launched staking event with bRing. For\nthe exact percentage part for each staking partner it is better to contact them\nrather then us, as they are building the whole reward concept and I don’t want\nto misunderstand any numbers.<\/p>\n\n\n\n

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

Hi APYSwap! APYSwap\nbridge allows to transfer APYSwap tokens between supported blockchains: Right\nnow Ethereum, Binance Smart Chain, Huobi ECO Chain and Solana are supported. Do\nyou only allow bridging APYSwap native token or can users swap any tokens from\nthose chains that have wrapped counterparts in other chains? Do you plan to\nexpand the bridge to the Polygon layer2 chain in the future?<\/em><\/p>\n\n\n\n

Andriy | Apyswap.com:\n<\/strong>We will start bringing other tokens next week, users will be able so swap\nselective tokens really soon and any tokens swaps will be available after we\nfinalize governance later this summer. Polygon coming in really soon, hopefully\nJune.<\/p>\n\n\n\n

\n\n\n\n

PART 2, TELEGRAM COMMUNITY LIVE\nQUESTIONS<\/strong><\/p>\n\n\n\n

The chat was open for 120 seconds; a\nlot of questions were posted by Satoshi Club community. Our guest chose some of\nthem.<\/p>\n\n\n\n

Q1 from Telegram user<\/strong>\n@highpee<\/strong><\/p>\n\n\n\n

Binance NFT\nmarketplace will launch this June. Is your NFT giveaway done to support Binance\nNFT initiative or are you looking at maximizing the opportunities that will be\ncreated by this Binance NFT market hype? Also, how can users be part of your\nNFT event?<\/em><\/p>\n\n\n\n

Andriy | Apyswap.com:\n<\/strong>yes, we are preparing ourselves for this event. You can participate by\nclaiming NFTs from the tokenized vaults. Please find the detailed guide here https:\/\/apyswap.medium.com\/bsc-community-giveaway-611ab817834f<\/a><\/p>\n\n\n\n

Q2 from Telegram user\n@cindy_crypto<\/strong><\/p>\n\n\n\n

Why do you only offer\nto use Metamask? Can’t I use your NFT’s with my trust wallet?<\/em><\/p>\n\n\n\n

Andriy | Apyswap.com:\n<\/strong>I will consult my team regarding adding of more wallets, particularly trust\nwallet and arrange that as a part of our development pipeline.<\/p>\n\n\n\n

Q3 from Telegram user\n@nadee5<\/strong><\/p>\n\n\n\n

You just said for the\nSOLANA bridge you will have separate bridge token for validators… What is the\nimportance of such separate bridge token for validators? Why is this special token\nonly for SOLANA bridge?<\/em><\/p>\n\n\n\n

Andriy | Apyswap.com:\n<\/strong>When we incubated the Solbridge team and agreed with them the token we wanted\nthis token to be community only token, so no pre-sale for it, rounds etc. Just\nstaking of APYS and Sol will help you to get it. This way we want to insure\nthat only those who are interested in ecosystem will get it<\/p>\n\n\n\n

Also in future as APYSwap foundation we will make sure that\nour holders will get a possibility to participate in the projects that we\nincubate, but still giving those projects an opportunity to be truly community\noriented. For the validators – they will be able to benefit from every\ntransaction done through the bridge, they will need to stake tokens to be\nvalidators, also projects who will want to use bridge will need to stake tokens\ntoo.<\/p>\n\n\n\n

Q4 from Telegram user\n@Indomiekuy<\/strong><\/p>\n\n\n\n

Can you explain what\nis NFT Shares, is it same with NFT fractional? How if user can\u2019t complete the\nNFT, is that mean that Incomplete NFT will have no value and can\u2019t be sold?<\/em><\/p>\n\n\n\n

Andriy | Apyswap.com:\n<\/strong>https:\/\/apyswap.medium.com\/share-the-nfts-with-apyswap-12bf4eeb57cb<\/a>\nwe have covered this topic in depth here in this article. <\/p>\n\n\n\n

Short explanation is that after the transfer, NFT will be\nwrapped and placed into the APYSwap vault on BSC network, initiating the\ncountdown on our website. The countdown will last, enabling users to claim the\nvault shares on claim contract. Then an authorized Vault Manager will transfer\nNFTs from the vault to Binance NFT marketplace and sell it. Buyer will receive\nthe NFT, crediting funds to vault. Every participant who has the ownership\ntokens will be able to acquire their corresponding share of funds, burning\ntokens in the process.<\/strong><\/p>\n\n\n\n

Q5 from Telegram user\n@Ratash97<\/strong><\/p>\n\n\n\n

When are you going to\nbridge to solana?<\/em><\/p>\n\n\n\n

Andriy | Apyswap.com:\n<\/strong>We already have it working for our native token, partners tokens will be\navailable later this month, all tokens later this summer.<\/p>\n\n\n\n

Q6 from Telegram user\n@Shaa93<\/strong><\/p>\n\n\n\n

“Hackathon”\nare becoming more and more popular in the crypto space. Has APYSwap ever\nparticipated in any Hackathon? And does APYSwap plan to host a Hackathon in the\nfuture?<\/em><\/p>\n\n\n\n

Andriy | Apyswap.com:\n<\/strong>We are constantly looking for developers and participating in hackathons as\nto our knowledge is a great way to get them. Yes, we are taking parts in\nhackathons, yes we want to organize our own and yes, we sponsor hackathons,\nlast one was organized by distributed labs.<\/p>\n\n\n\n

Q7 from Telegram user\n@alptrader<\/strong><\/p>\n\n\n\n

Why do you guys love\nSolana? Why is special about solana blockchain?<\/em><\/p>\n\n\n\n

Andriy | Apyswap.com:\n<\/strong>Well, it is fast, efficient but the main reason is that my partner, co founder\nand CTO has worked for a long time with Solana core team and we have in depth\ntech understanding of their chain that is quite rare on this market, thus we\ndecided to turn it to our advantage and build with them.<\/p>\n\n\n\n

But we are not just building on Solana, we are doing cross\nchain solutions, those on Solana included.<\/p>\n\n\n\n

Q8 from Telegram user\n@surendra040<\/strong><\/p>\n\n\n\n

You planned to build a\nbridge on different chain but I am confused how it works will the supply of\ntokens get affected and accordingly increase in each bridge?<\/em><\/p>\n\n\n\n

Andriy | Apyswap.com:\n<\/strong>we never changed the total supply, originally the token appeared on\nEthereum, each and every time it appears on other chains, the same amount is\nlocked  on ETH part of the bridge, so\nthat the total circulating amount does not change.<\/p>\n\n\n\n

Q9 from Telegram user\n@cryptoneco<\/strong><\/p>\n\n\n\n

Considering that the\nApySwap platform will need more users, do you plan to use social media and new\npublishing platforms such as youtube and tiktok effectively?<\/em><\/p>\n\n\n\n

Andriy | Apyswap.com:\n<\/strong>Yes, I am thinking each and every day about bringing more people tocrypto eco system, especially APYSwap.\nLooking into Youtubers now<\/p>\n\n\n\n

For tiktok I have some doubts that tiktok users require\ncross chain solutions and bridges and I think that the conversion ratio would\nbe low from that channel. But I would be happy if you can make me reconsider.<\/p>\n\n\n\n

Q10 from Telegram\nuser @sweetdoge<\/strong><\/p>\n\n\n\n

What is the reason\nAPYSwap to not include Polkadot blockchain into the project? Why not POLKADOT?<\/em><\/p>\n\n\n\n

Andriy | Apyswap.com:\n<\/strong>I am big fan of Polkadot and would be absolutely happy to add it. From the\nstart of the project I actually planned to run the marketplace on Polkadot\nMoonbeam parachain. The problem is – we are currently unaware of their release\nschedule and it is hard to plan with a partner who is not live yet. Not even\nKusama test net. Can tell you this – once Polkadot launches – I would be\nprioritizing its integration.<\/p>\n\n\n\n

\n\n\n\n

PART 3, QUIZ AND INFO<\/strong><\/p>\n\n\n\n

As usual, for the third part, Satoshi\nClub Team asked the chat 4 questions about APYSwap. A link to a\nQuiz form was sent into the chat. Participants had 10 minutes to answer. 300$\nwere distributed between the winners. <\/p>\n\n\n\n

For more information and future AMAs, join our Social Media\nchannels: <\/strong><\/p>\n\n\n\n