CRYPTO SYZYGY : AMA Session With Metal Swap
AMA On ,Saturday February 19th At 01:00 PM UTC
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We were so pleased to host our Telegram AMA session with MetalSwap where we gave you the chance to ask the team anything you liked. And you certainly delivered!
Summary of the AMA
- Host Round
- Twitter Q & A Round
- Telegram Q & A Round
Crypto King: Àlright, good morning/afternoon/evening all of you. Today, we have another promising project called #MetalSwap with us to enlighten us about the project they are developing. Let's welcome the guest 👏👏👏👏
MetalSwap Team: Hi there, pleased to e-meet you 😃😃
Crypto King: Same here. Great to have you here :)
Cool let's begin with the AMA Round 1. Few questions from my side
QCan you just introduce yourself to the community, tell us a bit about yourself your background and experience?
MetalSwap Team: My name is Marco Braglia, I’m the Project Manager of MetalSwap and I have been collaborating with 1 one of the founders for several years in crypto and finance related projects.
Being an active part of the community, kindly answering questions from newbies, testing our app on Kovan and giving us continuous feedback is the best way to get involved in our project: that’s what I did by myself since I heard about it!
Crypto King: Awesome
QNext one, Can you briefly describe #MetalSwap? What is it trying to do in the blockchain space?
MetalSwap Team: MetalSwap is a decentralized platform that allows hedging swaps on financial markets with the aim of providing coverage to those who work with commodities and an investment opportunity for those who contribute to increase the shared liquidity of the project.
Nowadays, financial swaps are the most widely used “insurance” tool for large exchanges of raw materials such as metals.
Everything is happening on centralized markets that require financial coverage, and bank credit facilities that aren’t always accessible to everybody, with poisoning bureaucratic laziness.
Crypto King: Great , Here comes the next one 👇
QWhat all launchpads MetalSwap IDO is coming and what dates?
MetalSwap Team: IDO began in november last year on ETH
Crypto King: Oh great
✅ 19/11/2021 - IDO ETH ON UNISWAP V3
✅ 27/11/2021 - STAKING POOLS 30/90/180/360 dd
✅ 11/12/2021 - DAO POWERED ON
✅ 21/12/2021 - IRON STAKING POOLS
✅ 29-31/12/2021 - 1st PROPOSAL DAO (SUCCEEDED)
✅ 07/01/2022 - BSC BRIDGE
✅ 07/01/2022 - IDO BSC ON PANCAKESWAP
✅ 18/01/2022 - STAKING ON BSC
✅ Jan 2022 - SWAP CRYPTO ASSET TESTNET
⚪️ Q2 2022 - AUDIT
⚪️ Q2 2022 - LIQUIDITY PROVIDERs
⚪️ Q2 2022 - SWAP CRYPTO ASSET MAINNET
🎯 Q2 2022 - SWAP ON METAL COMMODITIES
Crypto King: I guess that's quite comprehensive set of info. Amazing! Let's talk about the future plans.
QCould you briefly share the roadmap of #MetalSwap the way ahead, any cool updates we should be looking for the project?
MetalSwap Team: you're welcome , we shared the roadmap just above! 😃
We have a lot of important news coming up: stay tuned to our social channels because there will be plenty on bsc too.
Crypto King: Awesome , Last questions of Host Round.
QWhat are your listing plans and which exchanges are being targeted?
MetalSwap Team: We have no plans to move to CEX for the time being, but we are not ruling it out. If any interesting exchanges would like to enter into a partnership with us, please write to email@example.com
Crypto King: Cool. Thank you. Time for Twitter picks.
Twitter Q & A Round
Staking is the new trend. What staking options are available for $XMT token? Are there any incentives for staking? What are the various ways to earn $XMT token and are there any limits to amount of $XMT I can earn?
MetalSwap Team: Staking program is live on our dApp on Ethereum and BSC blockchains.
There are two kind of pools as of today:
STAKING POOLS are “classic” pools: defined duration (30/90/180/360 days) and fixed total rewards amount. Holders of $XMT token on ETH chain are free to join open pools as long as they are not expired and take a share of the rewards. The sooner they join the pool, the bigger the share of rewards they will get, because the rewards are calculated with a system of weighted averages taking into account the time spent in the pool and the amount of tokens provided. The reward in tokens is distributed at the end of the period along with the principal originally locked in the pool.
IRON POOLS (only on Ethereum blockchain as of today) are special staking pools with a MINIMUM GRANTED APY. Staking is available for a fixed quantity of XMT, multiple of the slot cost. Minimum APY is granted by the limited number of available slots in the pool. he reward in tokens is distributed at the end of the period along with the principal originally locked in the pool.
Do you have vesting period? Commitment of the team for the project is very important and it takes time to develop major things. The crypto is moving fast and some investors are less patience everytime, does the team have a plan for early investor to stick for a long term?
MetalSwap Team: Our tokenomics is well structured and has broad shoulders: in the long term, knowledge of our platform will be widespread and $XMT will be increasingly in demand, both to use it and to participate in its governance.
You can find our detailed tokenomics in the white paper
(https://www.metalswap.finance/assets/documents/whitepaper_metalswap_eng.pdf ) , or summarised on our Medium( https://medium.com/metalswap/token-overview-225434ac5ca ).
Those who participated in our seed phase must meet a two-year vesting period: this ensures that $XMT is not dumped by the first big investors.
Metrics: Founders, team and advisors: 10% of tokens with 2 years vesting
Ecosystem Development: 10% of tokens with 15 months vesting
Seed tokens: 1% of tokens with linear vesting over 1 year
Private tokens: 4% of tokens with 6 months vesting
Treasury: 25% of tokens
Public sale: 15% of tokens (1% IDO)
Rewards and Community: 23% of tokens
Marketing: 2% of tokens
Strategic investors: 10% of tokens
Q3.@YelenaOdintsova , What are the strategies followed by you for promoting the project so that it reaches everywhere? Are you plainning to use more third party platforms for effective promotion of the project other than the crowded platforms that you are utilising at present
MetalSwap Team:That’s some real truth! We already have several partnerships ongoing and many more are coming in the future.
At the moment we are in touch with some important foundations in the crypto world: stay tuned!
We are also in touch with several international consulting companies which already showed interest in our project for their customers.
Moreover, international marketing campaigns are already ongoing and will intensify along with the features added to the project.
We will plan to add more local communities as needed if there will be a number of investors/holders/partners big enough.
Many projects look great only on their whitepaper & Roadmap but facing a lot of difficulties when trying to implement the project mission and end with failed. How does #MetalSwap overcome every obstacle in its project development?
MetalSwap Team: Metalswap boasts a team, specialized in different fields, ready to cover any eventuality
Our development is continuous and constant, our devs are working 24/7: from smart contract creation to UI optimisation, through the management and updating of every step of the back-end, we simply never stop!
Our community is growing up with us, and that’s the best thing for the project long-run
The benefits on choosing MetalSwap over a traditional CeFi solution are:
1. Costs minimized
In MetalSwap there is no need for an intermediary, it is entirely based on blockchain technology through the use of smart contracts.
Since there are no intermediaries, there is no need to trust anyone.
The funds are not entrusted to a third party, they remain available in your wallet and you decide how to manage them.
3. Decentralization of the system
The issue of monopoly is overcome by MetalSwap's intrinsic automatism and by decentralized finance.
4. No need for bank coverage
Bank coverage is no longer necessary:
MetalSwap solves this issue with a shared liquidity pool system, where each participant (Liquidity Provider - LP) is rewarded for their contribution through the provision of project governance tokens (XMT).
MetalSwap allows you to open hedge positions only if they can be counter-guaranteed by liquidity pools.
That's why in MetalSwap trust is not necessary, it is an entirely and mathematically trustless system.
5. Market open 24/7
Unlike traditional offices with their constraining hours, MetalSwap is open 24 hours a day, 7 days a week
Crypto King: https://t.me/joinchat/YaSNSVggeOFhODQ0
Telegram Q & A Round
Q1. How can users stay updated with this project? Are there channels, including local communities where users can get the latest updates?
MetalSwap Team: You can stay up-to-date following our official channels, every alpha is shilled here! ->
OFFICIAL WEBSITE 👉🏻 https://www.metalswap.finance/
MEDIUM 👉🏻 https://medium.com/metalswap
TWITTER 👉🏻 https://twitter.com/MetalSwapNet
TELEGRAM 👉🏻 https://t.me/metalswap
DISCORD 👉🏻 https://discord.com/invite/eYay7NV6vF
YOUTUBE 👉🏻 https://www.youtube.com/channel/UCuFVZOpAOzuzlmJbPA4wdkw?sub_confirmation=1
FACEBOOK 👉🏻 https://www.facebook.com/MetalSwapOfficial/
REDDIT 👉🏻 https://www.reddit.com/r/metalswapnet/
TELEGRAM DISCUSSION GROUPS 👇🏻👇🏻👇🏻
Q2. Are you planning to promote your project in countries / regions where English is not good? Do you have a local community for them to better understand your project??
MetalSwap Team: You got it right! We already have three communities: International, Italian and Spanish on Telegram.
International and Italian on Discord.
International marketing campaigns are already ongoing and will intensify along with the features added to the project.
We will plan other local communities as needed if there will be a number of investors/holders/partners big enough.
TELEGRAM DISCUSSION GROUPS 👇🏻👇🏻👇🏻
Q3. Token Burn and BuyBack program play an important role in increasing Token value Do you have a token burn or buyback program plan to attract investors?
MetalSwap Team: We don’t have any TokenBurn scheduled, jet! :D XMT Tokens will be initially distributed to early users of the protocol via swap incentives, liquidity incentives, AMM, test-related incentives, and Bug Hunting campaigns.
All incentives fall under the "Rewards and Community" heading, which will be fueled through the token buy-back system.
People who believe in MetalSwap and want to increase the power of their vote can stake their tokens to receive an incentive and increase the number of tokens.
Just to see how to combat excessive volatility, we have recently launched our app on Kovan’s Testnet - check it out: testnet.metalswap.finance
Q4. Where can I currently buy Token?
MetalSwap Team: As of today, investors can get their hands on $XMT token on Ethereum and BSC DEX, with the following contract addresses:
UniSwap on ETH 👉 0x3E5D9D8a63CC8a88748f229999CF59487e90721e
PancakeSwap on BSC 👉 0x582c12b30f85162fa393e5dbe2573f9f601f9d91
Q5. Security and anonymity are always prioritized by BlockChain projects in the development of project platforms and technologies. So, does you have any technological solutions or plans to enhance user trust in these issues?
MetalSwap Team: That’s a key point of our project.
The official platform is ready and has just been published on Ethereum’s testnet with a bounty program that will reward all those who try to use it and report bugs!
After that test, our code is going to be published on GitHub, and reviewed by an Audit company (we’re already in touch with Certik, OpenZeppelin and others).
Thus, all of our smart contracts will be tested and audited before going on mainnet.
Crypto King: Awesome. Thanks a ton for doing the AMA with us.
It was great to get connected here with your community. I wish you all the best for MetalSwap. Have a great day folks🤘
MetalSwap Team: Glad to have met your fantastic community
hope to meet again soon in the future 😉😉🔥🔥🔥🔥
Crypto King: Indeed. All the very best to MetalSwap🚀.