Jan 6
AMA Recap — What Goes Into Mainnet Launch
Dear Spherium Community,
Thanks for making our first Monday great by becoming a part of our live AMA with the founders of Spherium! It was indeed an insightful talk with Sash Jeetun, our COO, and Aanchal Thakur, our CEO that brought to life a deep understanding of how the journey from mere ideation to its mainnet launch looks like.
It was an absolutely raw session where questions from the community were answered directly by the founders, which gave them the right understanding of where we stand in terms of expansion, mass adoption and product launch.
Here a quick recap of what all went through in the AMA.
AMA questions by the Host:
1. It is absolutely a critical point for any project to put their product out in the market. How would you describe the process of product ideation to its Mainnet launch?
Sash puts forth how a concept is seeded into a working model, by ticking all the crucial checkpoints that involves, use-case clarity, competitor analysis, building prototypes and initiating Testnet phase, audit completions, community engagement and finally deploying Mainnet. Sash also stressed upon how over the course of development, there can be extrinsic factors contributing to the timeline of the mainnet push.
2. Talking about the integration of blockchain technology into a wider concept of DeFi and creating use-cases around it. Could you share your insights into how the development of such an idea takes place?
Aanchal unfolded how blockchain explosion has steered DeFi into a thought provoking phenomenon where multiple blockchain ecosystems are co-existing in a space that still lacks a unified DeFi platform that embraces all of blockchains. Hence, the dire need for a high impact cross-chain suite of applications with DeFi functionalities that makes it seemingly convenient to access everything best that’s out there.
The development of such an idea is what Spherium is working towards and will be introducing its bridge as the first step towards this revolution.
3. Spherium is building a suite of DeFi applications on top of multiple blockchains. The very first product that we are pushing to Mainnet is our Cross-Chain Bridge and DEX. Spherium also introduced a Testnet Phase. What was the response and learning from the Testnet phase?
As Sash talked about the journey of turning an idea into a product and one key stage in this development process is releasing a Testnet phase, that lets the community members and key stakeholders participate in the working prototype and share their valuable insights into how the final product can become better.
Spherium launched their Testnet for their cross chain bridge almost 3 months back, which allowed the developers to analyze the major pain points and work on them to make the bridge even more compatible to user needs. The response from the Testnet launch was quite overwhelming to see such a huge participation from over 15+ countries and a mixed bag of testers, developers, project investors and crypto enthusiasts.
4. Last, but not the least, where are we with the journey of Mainnet Launch of Spherium Cross-Chain Bridge and the DEX HyperSwap?
And finally, we came to the most anticipated question of the AMA, when Spherium is going to launch the Cross Chain Bridge and its HyperSwap DEX. Aanchal promptly explained that both of the platforms are already completed with extensive internal testing, audit recoveries, penetration testing and what not to cater the best working cross chain application in the domain.
As we have talked briefly about how we were delaying the launch because of the holiday season coming and the markets being in a bearish sentiment which could hamper the early adoption at launch for our products. But, nonetheless, now we are actually ready to bring these Hyper products live in a matter of days.
Aanchal mentioned another major reason behind not pushing HyperSwap early, which is building the right ecosystem with partner projects, which is quickly building into one of the biggest cross chain communities with our HyperLaunch Incubation program. We want to make sure that there is enough TVL locked into the platform before it goes live and we have already announced 6 big projects and more are in line to join the Spherium ecosystem.
Questions from the community
- 6 months down the line, what future do you see for Sphri token?
The next 6 months of Spherium are really critical and looks like a lot of things will be happening here. As mentioned by Sash, in the coming months our community will witness the launch of the bridge, DEX, and a mobile app. Apart from this, our first Hyperlaunch cohort of 50 projects will be completed and SPHRI will reach the moon as it will be listed on new exchanges.
2. What is your team strength and when do you plan to move out of the bearish market and launch your products?
We started with 28 members and now we stand at 20+ in-house team members and anyexternal agents for testing, audits and development purposes. Coming to the product launch argument the stance to choose the bullish market to launch was entirely to sustain a hike in the adoption and support from the market sentiment. It is prominent to do the product launch under the right conditions to give the best value to all token holders and investors. But now, irrespective of what the market conditions look like, we now think we have got the right momentum to make them live and start inviting everyone to come and use our bridge for good.
3. What type of integrations can we expect for the Spherium Cross Chain bridge?
There will be 2 kinds of integrations, one is an internal integration where we will add all the other blockchains on the bridge and another is external shilling, where we will integrate our partner’s API’s and use cases with the Spherium’s Ecosystem.
A Working Demo Of The Cross Chain Bridge
At last, we brought in one of our devs to showcase the working demo of the bridge which can be seen right here
We sincerely hope that this AMA brought some closure to our valuable investors, stakeholders, enthusiasts and paved the way for a journey that Spherium is striving towards to unify the whole of DeFi and Blockchain space and scale up the adoption of a powerful financial solution.
To learn more about Spherium Finance, kindly visit our website at https://spherium.finance/ and follow us on all social platforms:
