Recap AMA WingSwap – Ngày 7/12/2021

December 7rd, 2021, our community had a chance to welcome Kevin – Marketing Lead of Wingswap to join in an AMA to give fruitful information about the key features and roadmap of Wingswap

This AMA was held by Azventures Public Group – the top crypto community in Vietnam, where investors and traders can obtain the lastest news and signals from bot/ admins, as well as discuss and share investment experiences in the crypto space.

At this AMA, the Kevin directly greeted the community and provided detailed information on Wingswap as well as some key products and future plans.

Time: 9:00 PM (UTC +7) | December 7rd, 2021

Venue: https://t.me/azventurespublic

Airdrop 200 USDT for the best questions in the AMA.

Wingswap

Below are some main points of this AMA:

Question for Part 1- Project overview

Question 1: Firstly, can you give me a brief introduction about your team and Wingswap? What are the occasions that lead you to the blockchain industry and this project?

Kevin:

Again, my name is Kevin and im currently marketing lead at WingSwap. My experience is mainly in finance and marketing. In addition, I also have 4 years of research experience in this industry as well as producing marketing content for a number of startups.

James Haf is the Founder of WingSwap. He graduated from the University of Economics. He has vast experience in business analysis, team management, and business development. James is a seasoned crypto investor and HODLER of different chain ecosystems. Seeing the potential and opportunities in the Fantom ecosystem, he helped create WingSwap.

Hiroto has a degree from the University of Technology with 6+ years of experience in system and software design. The past projects he has been involved in have included back and front-end program development and business analysis.

Fantom is a fast, cheap, scalable, decentralized, and secure blockchain platform. Not only does Fantom support DeFi development, but it also develops for institutional and governmental demands

Early this year, Fantom had less than 50 projects operating. Heading to the end of the year, now Fantom has over 200 projects, revealing how rapidly the ecosystem grows, not only in quantity but also in quality.

AMM is the sector that we need to investigate. AMMs create a liquidity pool and attract liquidity into it for the whole ecosystem. As DeFi cannot operate where there is no liquidity, AMM is an indispensable part of a DeFi ecosystem.

That’s why we want to be a part of this ecosystem as an AMM Dex

Question 2: Could you share with us about WingSwap’s competitive advantages and improvements? Which country market that WingSwap has been approaching so far and please share with us your market expansion strategy (if any) in the near future?

Kevin:

WingSwap is the first DeFi platform that provides both AMM and integrated NFT Farming on Fantom blockchain network. We provide automated, blazing fast and all-round solution for the DeFi industry.

WingSwap is a dedicated Decentralized Exchange (DEX) and a staking platform where users can provide liquidity to the DEX, trade different types of assets in a decentralized way and get rewarded for doing so. The platform is created without the flaws of existing approaches, enabling proper money markets to function, and creating a safe positive-yield approach to the liquidity provided by platform members.

WingSwap aims to provide a comprehensive decentralized financial service – DEX (Swap), Staking and Liquidity pool using WingSwap token (WIS), the native token of the ecosystem in a decentralized, safe, environmentally friendly way with low transaction fee.

Apart from this, the platform is created with multiple unique features such as DEX Smart Trading, NFT Intergration and DAO Governance. With these features, WingSwap is set to change the narrative of the industry and redefine the DeFi experience of users.

WingSwap launched its Ambassador Program to give the community a more significant and notable way to engage as well as help in our growth. We have reached and surpassed many milestones in terms of followers and transfers; and we believe that the time has come for the community to be included in this project.

Out of nearly 1000 applications from all over the world, we will select ambassadors. They will help us spread the value of WingSwap to other communities. That’s our market expansion strategy in the near future. In addition, we promote our KOLs to publish articles and review videos about the project in their own languages   to spread the word.

Question 3: . Finally, in the introduction segment, could you share with us some upcoming events that WingSwap’s team is going to launch in the near future?

Kevin:

Here is roadmap of WingSwap

Please check it out

Currently we are actively focusing on launching Farming and Staking features, will then plan to open sale of NFT to promote economic efficiency. Rewards will be released on Dec 11th so hurry to be the ones receiving early rewards.

As mentioned, the ambassador program will also take place to promote a marketing boom to all communities. Lots of articles and videos will be released for community.

You guys can check our plan here to stay updated with us.

Questions for Part 2 – Pre-collected questions from Twitter:

Question 1: Considering that you have a large number of opponents, can you share with us a few killing features that make you superior to them? What are strengths that enable you to look to the future with hope? @cudosinichi9

Kevin:

Great question

I will give you guys a long answer haha

Wingswap has a few differences from other AMM DEXs on Fantom.

Design: WingStarter’s design esthetics is professional, user-friendly, and easy to use.

AMM pools: In addition, the WingSwap AMM pools follow the same mechanism as the Uniswap curve for pairs with large price fluctuations. We also use the bonding curve similar to Curve Finance and Mercurial to increase liquidity for trading pairs.

Stable coin swap: WingSwap believes that the TVL growth of stable coins on Fantom will lead to the need for swaps between stable coins like USDC against fUSD.

As described above, the technology that Wingswap uses can improve user experience in terms of speed, efficiency (reducing slippage when swapping), capital utilization (through staking and yield farming). User support is a non-tech issue, but it is also focused on by the team during product development. We have support teams in many time zones around the world to support users 24/7.

Question 2: Security is the first priority of all projects and platforms. Do you believe that WingSwap is safe and secure enough against hackers? Does your project have Bug Bounty Programs for everyone that reward individual vulnerability detection of the system? @AdcDavidtai1999

Kevin:

To maximize the security for our community, WingSwap’s 2nd audit is completed by @verichains. The smart contracts was also audited by @defiyield_app.

🛡DefiYied Audit Report 

🛡Verichains Audit Report

And yes, Bug Bounty programs will be released as our plan

But let’s wait

We will announce soon

Question 3: “Why should projects participate in the WingSwap DEX? What kind of benefits and advantages/guarantees do you provide for the projects? Do you have any project selection criteria?” @AndyToshi_cryp

Kevin:

We welcome any blockchain project to apply for the listing on WingSwap. For the interests of our users, we have quite a vigorous review process. Our listing criteria include (but not limited to):

Project Type

Token Model

Community

Ecosystem

Applying token listing in the early stages will help projects get exposure to the WingSwap community as well as Working with us in the early stage is an opportunity for both parties.

Currently we have nearly 90.000 followers on Twitter and 62.000+ members on Telegram

Benefits of adding liquidity on WingSwap:

Safe LP with code and smart contract audited by DeFiYield and Verichains( Reputable partners have audited: Axie infinity, Kyber network, Tomochain…

Earn 0.17% from the fees of every transaction of that liquidity pair, the higher the trading volume, the more rewards liquidity providers get.

Question 4: What are your major goals to achive in the next 3-4 years? Where can we see WingSwap Ecosystem in this period? What are your plans to expand and gain more adoption? @moonboy_jack9

Kevin:

We envision an ecosystem where fast, easy, and affordable decentralized finance products and services that meet the needs of users are delivered in a timely, responsible, and sustainable way. Apart from this, we project a platform that will be the forerunner of all DeFi products and use cases in the nearest future and easily accessible assets with more use cases that will drive adoption, increase demand and value.

Below is a summary of the vision of WingSwap:

To become the go-to decentralized exchange on Fantom ecosystem with multifunction integration

To be the first DEX to integrate NFT on Fantom, connecting NFT with Defi to create a new, better and more useful yield farming model for users.

To creatively develop and perfect its ecosystem, progress more projects including Launchpad, Bridge, NFT, etc.

Here is our growth strategy for that

Question 5: ) I noticed that in your project WingSwap is an exchange with a dual-chain Dex model, why would you choose to be a dual-chain exchange? Did you make such a choice to complete the deficiencies between the chains? Why do you prefer FANTOM? @Maiphuong32

Kevin:

WingSwap team understands that there is a need to put an end to the notoriously vague and abysmal trends in traditional finance and existing swap and DEX protocols.For instance, existing platforms charge high fees, transactions are slow because of the poor scalability of the blockchain they use and cross chain transactions cannot be carried out because they are not interoperable.

With WingSwap, there is no such thing. Exchange activities are automated, fast and decentralized using the Automated Market Maker – AMM mechanism. Trades can be carried out automatically and users can stake their idle funds in the liquidity pool to gain high return on their investment.

Wingswap chose FANTOM in addition to seeing the future development potential of this blockchain, we also appreciate the blockchain design to reduce the cost of transactions approaching zero.

So it can be said, solving this problem is largely thanks to the structure of FANTOM. WingSwap is also actively working with other protocols in the FANTOM ecosystem to promote effective marketing and build the community.

PART 3: BEST LIVE QUESTIONS AZVENTURES PUBLIC GROUP

Question 1: Where can I buy your tokens now, what are your current contracts and how can I buy them and what are the benefits?

Kevin:

You can now buy WIS on WingSwap.io

The contract address is: 0xF24be6c063Bee7c7844dD90a21fdf7d783d41a94

The main utilities of WIS are:

– The governance token of the Wingswap protocol, WIS holders have the right to propose and vote on proposals for changes in the development of the Wingswap protocol.

– Used as a token to accumulate profits from the Wingswap ecosystem, a part of the revenue from trading fees, NFT listing.. will be used to buy back and burn to increase the value of WIS tokens.

– WIS will also be used as a means of payment when using services at Wingswap. For projects, WIS will be needed to carry out project promotions, or NFT marketplace listing.. For individual users, it will be necessary to hold WIS to gain access to Wingswap Smart Trading products.

Finally, WIS is used as a reward to reward early adopters of the protocol, including those who trade on Wingswap, Stake NFT, or Liquidity Provider.

Question 2: What’s Wingswap’s goal in terms of volume and monthly active users on your project in the short term????

Kevin:

Thank you girl, we aim for TVL to hit 30 million at launch and grow steadily at 5% per month. Regarding trading volume, it is difficult to predict in advance but by supporting and listing new projects of FANTOM, we hope to achieve a more vibrant volume than the average of the ecosystem.

Question 3: How old is Your project? What are the major plans ahead? Could you show to us image of your roadmap?

Kevin:

We been planning and working on it for a year

But WingSwap has been officially launched for 3 months

Wingswap

Here is our roadmap

Thank you

Question 4: Since NFT is popular nowadays, is there a plan for NFT integration?

Kevin:

As pointed out earlier in this slide we have designed WingSwap with NFT functionalities to create a novel, better and more appealing competitive advantage to our users. There are two types of NFTs in the WingSwap collection.

They are Wings NFT and Ship Booster NFT.

WINGS NFTs are the exclusive and highest valued NFT in Wingswap’s NFT collection. WINGS NFT will only be sold once within the first X days in limited quantities. No more NFTs will be created if NFTs can not be sold out in that round.

Wings NFT holders will be able to participate in DAO Governance.

Ship Booster NFTs allows you to achieve higher APR% on your liquidity positions. Users can stake with ship booster NFT into farming pool to get more rewards from farming.

When the Ship Booster NFT is staked along with the LP tokens, it provides a percentage boost on the rewards earned from that pool/vault.

Question 5:Can you give an overview of your Tokenomics, and the UTILITY of Token?

Kevin:

The main utilities of WIS are:

– The governance token of the Wingswap protocol, WIS holders have the right to propose and vote on proposals for changes in the development of the Wingswap protocol.

– Used as a token to accumulate profits from the Wingswap ecosystem, a part of the revenue from trading fees, NFT listing.. will be used to buy back and burn to increase the value of WIS tokens.

– WIS will also be used as a means of payment when using services at Wingswap. For projects, WIS will be needed to carry out project promotions, or NFT marketplace listing.. For individual users, it will be necessary to hold WIS to gain access to Wingswap Smart Trading products.

Finally, WIS is used as a reward to reward early adopters of the protocol, including those who trade on Wingswap, Stake NFT, or Liquidity Provider.

For all of the questions that have not been answered yet, guys feel free to search for more information or ask directly to them on the links provided below:

 

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