Journey to Become a Global Cafe— LatteSwap Roadmap
Dear Baristas,
The last several days have been crazy hectic. We are grateful and humbled by the level of support received from the BSC community. Truthfully, we couldn’t have expected our TVL to reach $1Bn in such a short period of time. We were indeed awed by this feat and we promise you that the team will reciprocate your support with consistent hard work and continuous innovative product and feature releases🙏🙏.
$1Bn TVL is truly a huge milestone for us. However, this is just only the beginning. As our community of Baristas is growing really fast, with new users trooping into LatteSwap café everyday, we would like to invite you all to embark together with us on our long-term journey towards becoming a leading DEX and an established pioneer of the NFT space on BSC and many future chains. We lay out the plans on how we are going to achieve that below:
OUR EXCHANGE AND LIQUIDITY
Having high liquidity is the essential core of any successful exchange. The exchange business is a natural monopoly, as liquidity tends to concentrate due to powerful economies of scale. As a result, the make or break factor of any exchange lies within its ability to attract and retain capital to its platform, which in turn, comes from how well the platform can develop a strong and unique value proposition to differentiate itself from competitors.
So far, we’ve successfully implemented part 1 of our strategy, whose objective is to attract capital to our platform. We will now move onto part 2, where the main objective is to retain the attracted capital.
Becoming the #1 DEX 📈
Let’s get down to the first principle. Ultimately, for the sustainability of any DEX in the long-term, it must have a high trading volume to generate high platform revenue, which results in high return to stakeholders — liquidity providers and LATTE token holders. To generate high trading volumes and achieve long-term sustainability, we will implement the following levers.
Lever#1: Expand user base of LatteSwap
- We will promote LatteSwap through various communities and key regions through marketing activities such as promotions with KOLs and AMA sessions to create awareness for the project as well as educate prospective users on our products.
- We will connect with yield aggregators so that more trading volumes are routed through LatteSwap. WardenSwap has already connected us in their routing. We will continue to partner with other leading aggregators to increase trading traffic through LatteSwap.
- Partnership with other DeFi projects to increase reach, collaboration, and composability. Our first such initiative is the DripBar which will launch in October. We are already in discussion with several projects and will make an announcement when the details are finalized. Please stay tuned!
- All of the aforementioned initiatives will be on-going, as growing our user base will remain our continuous emphasis.
Lever#2: Increase capital efficiency to LPs
- Any DEX can provide earning opportunities through LP, but not every earning opportunity is created equal. Given same trading volume, the key differentiator for the earning opportunity is determined by the platform’s capital efficiency. At LatteSwap, we believe we can offer the highest capital efficiency to our liquidity providers.
- We will achieve this by allowing LP tokens to be used as collateral to mint our own stablecoin — LUSD (LatteUSD). Baristas will be able to use LUSD at their own discretion, including providing liquidity or swapping it into other tokens. This initiative is scheduled for Q1 2022.
- We will also expand beyond the constant product AMM model. We are not sure why majority of DEXes limit themselves to just one model. LatteSwap currently employs the XYK model for our AMM, which is good for volatile cryptocurrency assets, but not the best for stablecoins. As a result, we plan to add the more efficient stablecoin swap model for stablecoin pairs under the LatteSwap brand. This feature is planned for Q4 2021.
Lever#3: Improve user experience
- We have many features planned for better user experience on our DEX—these features include, but are not limited to auto compounding and “zapping” in LP positions.
- We will also continue to take feedback from users and make improvements to our UX/UI, as we have been since our official launch. We appreciate all the suggestions, and would like to ask the community to continue providing us feedback. To this end, we can proudly and confidently say that LatteSwap is the product of the community, built by the community, for the community!
- Both of these initiatives will be on-going.
Pioneering the NFT space 🎴
Let’s be real. NFT is still in its infancy and we are not sure what it is going to look like in a year or two. A case in point: back in 2017, did anyone expect UniSwap’s constant product AMM would become the winning model for DEX? That being said, our focus would be to bridge the DeFi world with NFTs. As we have built our own ecosystem of OG NFT and Booster NFT, we will continue to innovate new NFT-related concepts, establishing our name as one of the pioneers of NFT space. Here is our plan.
NFT Marketplace
- We will create a marketplace, LatteMarket, that supports the buying and selling of our OG, Booster, and any future NFTs. We also plan to allow LatteMarket to facilitate the sales of third-party NFTs. This will generate a significant second revenue stream to our platform, in addition to our exchange, whose value will be distributed back to LATTE token holders through deflationary mechanics.
- We are also researching into fractional ownership of NFTs and intend to make our marketplace support this functionality. Users will be able to sell a fractional ownership of their NFT s— increasing the NFTs’ liquidity and accessibility.
- We plan to launch the LatteMarket between late Q4 2021 - early Q1 2022.
More NFT Utilities
- We will continue to add more functionalities to existing and future NFTs. The functionalities will have synergy with our DEX.
Roadmap for token holders 💸
In addition to our strategies above, we will also start to place more emphasis on building up our token price to reward believers of LATTE. You will find our plan for Q4 below:
- Pursue additional CEX listings to increase liquidity and value for LATTE tokens. We are in discussion with multiple CEXes — please stay tuned!
- Generate more revenue sharing from new revenue sources, which will be used to fund our deflationary mechanics
- Implement governance to increase the utility of LATTE tokens. By holding onto LATTE, you have a say in the project direction and vote on topics such as token emission rate, protocol parameters, or even NFT designs!
As a parting thought, I want to leave you with a quote:
Everyone has a plan until they get punched in the mouth. — Mike Tyson.
There is a lot of truth to that quote. In DeFi, “getting punched in the mouth” happens on a daily basis with new technology, new exploits, and new competitions. While we have a plan, we will remain flexible and will always be ready to adapt if/as new trends emerge. Just like Soy Milk, we believe that our resilience, grit, and perseverance will allow us to achieve our aspiration and come out on top in time. You can always check the most up-to-date road map here.
So that’s it. We hope you believe in our vision and go on this journey with us. We can assure you that, it’s going to be fun, exciting, with a lot of Latte along the way. ☕☕
With a Latte love,
LatteSwap Team
🙋♂️ Want to be a part of our team?
We are always looking for passionate and skillful Baristas to join our fledgling café. So if you love Latte, please reach out to us at contact@LatteSwap.com
Roles we are hiring for:
- Business Development
- Community Manager
- Copywriter
- Marketing
- Artist & Content Creator
🔗 Links:
Website: https://www.latteswap.com
Twitter: https://twitter.com/latteswapOG
Discord: https://discord.gg/ZbhaHqUFYr
Docs: https://docs.latteswap.com/latteswap/
Medium: https://medium.com/latteswap
Github: https://github.com/latteswap-official
Telegram: https://t.me/LatteSwapOG
Telegram Announcement: https://t.me/LatteSwapOGAnnouncements
