[TLDR;] More than 386,000 SUI were raised (equivalent to $416,880 USD). POL is a technique to buy BSWT at a lower cost in order to improve stability and long-term liquidity. The issue and solution of Mercenary Liquidity Providers

IDO Recap

BaySwap is the first protocol on Sui to use the Price Discovery approach. Allowing the community to pick the BSWT pricing is a challenge for us in our effort to deliver the greatest fair and innovative alternative for fundraising. In classic IDO, whitelist/og can acquire protocol token at a lower price than the listing price, creating hype and hype for the community that always wants to go first and immediately dump prices at token listing. The price of BSWT is fair for everyone in the Price Discovery Method, and the token is fully unlocked at the TGE, which is the goal of the BaySwap team when developing the BaySwap protocol.

BaySwap IDO stats:

1. > 386,000 SUI raised (worth ~410,880 USD). Final price: 1 BSWT = 0.0193 SUI
2. 14544 buy transactions. Average 26,5 SUI / transaction.
3. Biggest buy: 6079 SUI

We can tell from the IDO results that whales who can join forces for price manipulation do not exist. This is a nice result in terms of BSWT token distribution fairness. As a result, we require an efficient approach to commence liquidity for the pool BSWT-SUI.

CEX Listing:

A CEX listing is an excellent way to attract new investors from their enormous user base. However, listing on CEX has a cost, which ranges from $50,000 to $100,000. We cannot disagree that being listed on CEX right away is a fantastic start for the price increase, but it also limits future price increases. BaySwap’s aim is to produce good-ready items on the mainnet first, then send them to CEX to unleash their full price potential.

Expected CEX listing: End of Q2 2023.

Commitment

Although the BaySwap Core Team token represents 10% of total supply (cliff 6 months, fully unlocked in 48 months), we are going to stake all of them rather than selling after unlocking, which has negative impacts on the protocol and causes community distrust. All data is recorded on-chain so users can verify it themself. As always, we are upfront about everything about BaySwap products from the start. Fair, honest, and transparent are keys to a community project.

Liquidity Bootstrapping — POL

Rented Liquidity

Ensuring liquidity is a serious challenge faced by any cryptocurrency. Without sufficient liquidity in the market, it is functionally impossible to buy or sell a token at a stable price, as any large transaction will cause a fluctuation. Issuers must incentivize liquidity in order to launch a new token. Many projects use liquidity pools and staking rewards to accomplish this, but it is costly. It also has the unintended consequence of attracting cynical investors, who farm the liquidity pool, collect incentives, and then abandon the initiative. This is referred to as “rented liquidity.”

OlympusDAO — 99% POL:

Instead of renting liquidity, as yield farming did initially, Olympus DAO introduces bonds to DeFi. By transferring their LP tokens or other cryptocurrency assets to the protocol, users can purchase discounted $OHM tokens.

This means that the Olympus DEX liquidity is now owned by the protocol rather than the liquidity providers. In fact, OlympusDAO currently owned 99% of OHM liquidity. OlympusDAO also rewards stakers with compounding interest, which makes staking more profitable over time.

BaySwap approach:

Our tokenomics allocate 1% of total supply to the Liquidity Bootstrapping Event. As a result of the Price Discovery Method in the BaySwap IDO, we observe that consumers are confused about how it works (described in the IDO announcement). In this case, switching to the OlympusDAO liquidity bond strategy is a good fit.

Follow Olympus DAO liquidity bonds— in other words, you can buy BSWT by SUI at a discounted price than market price with a locking period.

An example of a possible liquidity bond (notice that it is subject to change depending on market conditions).

• Base price (IDO end price): 0.0193 SUI
• BSWT Liquidity Bond Price = 0.0193 * 80% = 0.01544 SUI with a vesting period of 10 days.
• Limit BSWT for liquidity bonding: 10,000,000 BSWT (1% taken from DAO treasury, replace LBE).
• Start date: TBA.

Goal: BaySwap protocol owns liquidity of pool BSWT-SUI using the liquidity bonds technique. It aids in increasing the liquidity of this pool, significantly increasing liquidity, and resolving the problem of mercenary liquidity suppliers. It should be noted that the BaySwap team does not have access to POL; it is under DAO management.

Buyback and Burning Mechanism: According to POL, the BaySwap protocol generates cash from swap fees. Lending/borrowing functionality, as well as another revenue source from POL lending, will be added in the Q3 roadmap. The POL fees will be used to purchase and burn BSWT via DAO proposal and voting.

Clear picture: Users will get a clear view of how much BSWT they will receive after the liquidity bond using this easy way rather than LBE. This shift is crucial, especially in a bear market.

BaySwap is the ultimate trading platform — as known as a Decentralized Exchange built on Sui Blockchain.

We provide the best solution for traders, with many features supported:

• Efficient transaction fee
• Against high slippage
• Fast, secure, and friendly UX/UI

About BaySwap: https://linktr.ee/bayswap

[TLDR;] 20.000.000 $BSWT with 100% of them unlocked at Mainnet launch (expected May 25th), no locking period, no vesting, no WL/OG requirements, everyone is able to buy.

Foundation:

BaySwap team started to put a very brick in November 2022. Six months passed, BaySwap team is proud to say that BaySwap is one of the most active DEXs in terms of both product and community development.

What are BaySwap's achievements?

• One of the first DEXs released on Sui Testnet Wave 1
• The first DEX launch on Permanent Testnet after many major breaking changes from Sui team. This is the best proof to tell you that BaySwap is always ready for any difficult changes.
• One of the most featured-rich DEXs (iOS/Android app, Explorer, Swap, Add Liquidity, IDO platform, Limit Order, Yield Farming, Zap, Trading View, Faucet bot …) which are stable and running on Permanent Testnet.
• Built a good community who are always ready to give BaySwap team feedback and suggestions. Some numbers: Twitter Followers: 101.000, Discord members: 90.415, Medium subscribers: 10.400.
• Partner with many great projects who build on Sui: Martian Wallet, Ethos Wallet, Sui Ecosystem,… and much more (We can’t list all of our partners here because it’s too long, sorry any partners not mentioned).

What’s the next milestone?

• Release the Lending/Borrowing feature
• Perpetual trading
• Multichain integration

You always can find them in our Roadmap. From the beginning, BaySwap set the roadmap and always try our best to follow it. It s one of the commitments with Bay Community and allows those who strongly support BaySwap from the early stage to know what are next steps, progress, and milestones are.

Reason and goal:

Working during the past six months is not easy for a non-fund-raised project. BaySwap Core is a team of 5 engineers with only 2 full-time engineers, all of 5 worked without any single salary. To compete with VC-funded projects, we spent all our personal time, no holiday, no Saturdays, and no Sundays through six months putting 100% effort into improving the BaySwap product day by day.

Until now, BaySwap had no presale, private sale, or VC sale. 100% of the total supply is in reserve. Public Sale is the FIRST and LAST chance to buy $BSWT. It allowed Bay Community to join the Public Sale (May 5) without any concern about the price pump/dump scheme.

Through this Public Sale, BaySwap has a small of funds to expand the team size, continue to make the iOS/Android application better as well as BaySwap web app, and start many marketing campaigns to attract TVL as our goal to be #1 TVL on Sui.

Public Sale detail:

There is all information about Public Sale which happen on May 5th.

• Total $BSWT for sale: 20,000,000 $BSWT (20 million = 2% of total supply) taken from Development Allocation.
• Where to buy: https://app.bayswap.io/ido
• Locking, vesting: No locking, no vesting. All of 20,000,000 $BSWT is unlocked at mainnet launch. You can learn why we unlock 100% in our Tweet
• When to buy: From May 5th to the end of May 12th.
• Total Supply: 1,000,000,000 $BSWT (1 billion)
• Initial Circulating supply: 30,000,000 $BSWT (30 million = 3% of total supply)
• Sale Method: Price Discovery (included 2 phases: Bootstrapping and Discovery). If you don’t know how the Price Discovery Method work, we invite you to join our mock Public Sale on Testnet to have an idea about it.
• Supported currencies: $SUI (Sui network) and $USDT (BEP20 and Polygon networks)
• Starting price: 1 $BSWT = 0.01 $SUI (during Bootstrapping phase)
• End price = (Total deposited SUI / 20,000,000) $SUI if Discovery Phase is triggered. Or 0.01 $SUI if Discovery Phase is never triggered.
• Min buy = 0.01 $SUI. Max buy = 100,000 $SUI
• Max total $SUI deposited during Bootstrapping phase = (20,000,000 * 0.01) = 200,000 $SUI
• Max total $SUI deposited during Discovery Phase: Unlimited because we use the “Price Discovery” method.
• Your $BSWT received at the end of sale = 20,000,000 * your deposited $SUI / total deposited $SUI
• Tokenomics: You can find this in our docs

For LBE, you can find the general idea in BaySwap docs. 10,000,000 $BSWT (taken from DAO allocation) is allocated for this LBE. The Public Sale price is used for the floor price of LBE. Don’t worry if you didn’t know any LBE-similar before, we will publish another Medium post to give you full detail about LBE on May 15th.

Frequently Asked Questions (FAQ):

1. Question: What is the $BSWT price? Answer: The price of $BSWT is unpredictable, it’s based on the total deposited $SUI during Discover Phase. During the whole Discovery phase, $BSWT prices will constantly increase after every purchase.
2. Question: What do I need to do before the Public Sale? Answer: There are two ways to buy $BSWT. prepare your $SUI in your Sui Wallet/Ethos Wallet/Maritan Wallet, … or prepare your $USDT in your TrustWallet/Metamask (network BEP20 or Polygon).
3. Question: I don’t have an OG role, can I join this Public Sale? Answer: Yes, it’s a “Public Sale”, everyone is able to buy.
4. Question: I buy $BSWT later than other guys, is it matter? Answer: No difference between early buyers and later buyers because at the end of the sale, your $BSWT received is calculated based on your amount of deposited $SUI, not based on when you deposited $SUI. Btw, we encourage you should buy $SUI for depositing early because of the high demands in starting days of the SUI network launching, the price of $SUI might increase unpredictably.

5. Question: I don’t have $SUI, how I can buy $BSWT? Answer: you can buy $BSWT by $USDT on BSC/Polygon network via Metamask/Trust Wallet.

6. Question: After I deposited $SUI, what’s next? Answer: you will receive $recSUI with a rate 1 $SUI = 1 $RECSUI. On May 25th, you burn $RECSUI to claim $BSWT.

7. Question: Is there any mock Public Sale for me to easily understand? Answer: we invite you to join our mock Public Sale which is happening at https://app.bayswap.io/ido.

8. Question: any difference between buying by $SUI and buying by $USDT? Answer: No any different in terms of economics. If you buy by $USDT, we’ll convert your $USDT to $RECSUI at the time you bought it. After that, we will MANUALLY send you $RECSUI to your linked SUI address within 48h from the moment you bought

9. Question: What is the difference between Bootstrapping Phase and Discovery Phase? Answer: Bootstrapping Phase happens when the Public Sale starts. During Bootstrapping Phase, 1 $BSWT = Starting price = 0.01 $SUI. After 200,000 $SUI was sold, we will enter Discovery Phase. In Discovery Phase, $BSWT price constantly increases after every purchase.

10. Question: can you give me an example?

Answer: This is an example taken from mock IDO Testnet wave 1.

• Fixed BSWT for sale: 2,000 $BSWT
• Total deposited $SUI = 141,670 $SUI
• Your deposited $SUI = 5 $SUI
• Your BSWT received = 2,000 * 5 / 141,670 = 0.0705 $BSWT

11. Question: I want to invite my friends to join Public Sale, what are the benefits? Answer: You can use your referral link to invite your friends. After the sale ended, we will distribute USDT as a reward based on your refs.

[TLDR;] Focus on Mobile Development, Public Sale starts on May 5 or May 6. Mainnet launch at around May 25.

We are excited to share the latest updates on our project, as we continue to build and expand our decentralized finance platform. We have made significant progress in several areas, and our team is working hard to bring new features and improvements to our users.

Social Media Growth 📢:

Firstly, we are proud to say that our social media presence has grown exponentially. Our Twitter account has grown from 20k to 97k followers, while our Discord community has grown from 20k to 76k members. We are grateful for the continued support from our community, and we will strive to keep delivering the best service possible.

NFT Mint event on SUI Testnet Network 💧:

The NFT Minting event is a way to interact with Permanent Testnet, help the BaySwap team collect SUI for the faucet station, and gain XP on Crew3 (now Zealy). We saw massive activity to mint the NFT and the event was held successfully.

SUI Faucet on Discord 🚰:

We have launched our own SUI Faucet on Discord, which allows users to claim around 2 Testnet SUI tokens every 2 hrs. This feature helps users who need Faucet but can’t claim it officially from the in-wallet faucet or SUI official discord due to heavy traffic errors.

Real-time Limit Order Views and Pro Trading Charts 📈:

We have added new features to our trading interface, including real-time limit order views and professional trading charts. These features enhance the trading experience for our users and provide more detailed information for making informed decisions by doing Technical analysis using Pro charts.

UI/UX Improvements ✨:

We have made several improvements to our landing page and Dapp, focusing on user experience and design. These changes make it easier for users to navigate and understand our platform, improving overall usability.

Mobile App Development 📱:

We have started developing our iOS and Android app, bringing our platform to mobile users. This expansion will allow more people to access and use our platform, further growing our community.

Upcoming Updates in Q2 2023:-

• Android/iOS app launch
• Public Sale on around 5–6 May 2023
• LBE-as-service (Liquidity Bootstrapping Event platform)
• Mainnet on around 25 May 2023
• More strategic partnerships

We are proud of the progress we have made over the past six months and are excited to continue building and expanding our platform. We thank our community for their support and look forward to seeing how our platform will be used and adopted in the future.

Thanks for reading & Have a great day ahead.

About BaySwap:

BaySwap is the ultimate trading platform — as known as a Decentralized Exchange built on Sui Blockchain.

We provide the best solution for traders, with many features supported:

• Efficient transaction fee
• Against high slippage
• Fast, secure, and friendly UX/UI

Social links:

Website: https://bayswap.io/

App: https://app.bayswap.io/

Twitter: https://twitter.com/bayswap

Discord: https://discord.gg/Tw7dNCBzVG

Medium: https://medium.com/@bayswapio

Github: https://github.com/BaySwap

Zealy: https://zealy.io/c/bayswap/questboard

Docs: https://docs.bayswap.io/

[TLDR;] Super fast growth in both Product & Community

Since our Devnet launch in January, we have brought a lot of features and updates. In this article, We will be exploring some of the main features and updates we have introduced recently to the community and the Roadmaps we have completed through the journey to the Mainnet launch.

Product Development Updates :

1. We have updated our Bay Swap App UI completely with a new and fresh look along with Day & Night mode and better responsiveness with mobile devices.
2. Added Yield Farming/Staking feature and the rewards can be claimed/harvested every second without waiting for any period.
3. Upcoming new Bay Swap Landing Page UI, Limit Order feature, Trading chart, and more…
4. SUI Testnet wave 2 ended with some great results for Bay Swap as follows:

• 100,000+ Swap, Add & Remove Liquidity transactions.
• 500+ awesome feedback from testers. Most of them are fixed and redeployed.
• 200+ Git commits to improving core smart contracts + UI.

Community Updates :

1. Bay Swap has reached around 13k followers on both Discord and Twitter in a 1-month span which shows all your love and support.
2. We have started an Airdrop campaign on Crew3. The top 1000 members of our Crew3 leaderboard will share 500,000 $BSWT Tokens on the Mainnet launch.
3. We have planned an Airdrop for “Bay OG” & “OG Elite” role holders along with other benefits for them which can be read in detail on our Discord server.
4. We continue to do partnerships with other projects and soon we’ll bring OAT campaigns with them as well. Stay tuned

Roadmap :

Q4 2022

• Build Team ✅
• Build MVP (Minimum Viable Product) ✅
• Release the very first version ✅

Q1 2023

• Release Yield Farming/Staking ✅
• Release Limit Order Book feature (Soon)
• Security Audit for Smart Contracts (Soon)
• TS, Rust SDK (Soon)

These are all the quick updates and points to be noted about Bay Swap developments. We are working hard to fulfill all the Features yet to come and have introduced others as promised. Moreover, We are going to join #SuiBuilderHouse Vietnam in Ho Chi Minh City. The event will start on March 18, so stay tuned for its updates as well…

We will keep you all posted with our monthly updates regarding Project developments and Community updates…

Check our official links here: https://linktr.ee/bayswap

Thanks for reading & Have a great day ahead.

About BaySwap:

BaySwap is the ultimate trading platform — as known as a Decentralized Exchange built on Sui Blockchain.

We provide the best solution for traders, with many features supported:

• Efficient transaction fee
• Against high slippage
• Fast, secure, and friendly UX/UI

Social links:

Website: https://bayswap.io/

App: https://app.bayswap.io/

Twitter: https://twitter.com/bayswap

Discord: https://discord.gg/Tw7dNCBzVG

Medium: https://medium.com/@bayswapio

Github: https://github.com/BaySwap

Crew3: https://bayswap.crew3.xyz/questboard

Docs: https://docs.bayswap.io/

BaySwap is the ultimate trading platform — as known as a Decentralized Exchange built on Sui Blockchain.

We provide the best solution for traders, with many features supported:

• Efficient transaction fee
• Against high slippage
• Fast, secure, and friendly UX/UI

About BaySwap: https://linktr.ee/bayswap