AMA Session with Dronoms from Marginswap (MFI)
Guest: Dronoms, Project Lead of Marginswap
Host: Iris of MEXC Global
Iris: Today, we’re honored to have Dronoms, Project Lead of Marginswap, to our community to give us a more intuitive introduction to their unique project.
Dronoms, welcome. Would you like to say hello and introduce yourselves?
Dronoms: Just a bit about me and the team, I am the project lead for Marginswap and have a medical background. I have traded Forex and in the last 3 years intensively been involved in the crypto space.
Currently, we are a core team of 5, made up of 4 devs and myself.
Questions about the project
Iris: What is MarginSwap? Can you share with us more in detail?
Dronoms: Marginswap is a decentralised money market, where users can open leverage positions, lend and borrow supported assets.
Currently Marginswap is live on Ethereum, Avalanche, Polygon and BSC. One interesting fact about Marginswap is that, because trades made on the platform are completed on swap protocols like Uniswap, Sushiswap and Quickswap, we never have issues with liquidity like other leverage platforms.
Iris: What triggers you to launch MarginSwap? What are some of the real-world problems/ pain points that MarginSwap aims to solve?
Dronoms: The move towards developing marginswap was more or less to cater to a need that most crypto users, farmers and traders had.
For example, there were tokens I wanted to trade with leverage and sometimes borrow for yield farming but were not listed on any platform at the time… So we set out to build a solution that could support upcoming and new tokens on AMM as long as they had enough liquidity.
Iris: What are some of the challenges that MarginSwap currently faces? How do you aim to solve them?
Dronoms: Previous challenge is the high Ethereum transaction fees, which we solved when we deployed on Multiple chains. Now you can use marginswap on polygon, avalanche or bsc spending less than 1$ per transaction.
The current challenge that we face, which every new protocol in it infancy also faces is that of adoption and luckily we have a solid plan on how best to attract more users to the platform. We are proud and excited about what we have built and can’t wait to start sharing it with the crypto space
Iris: Are there any exciting news or updates with regards to MarginSwap that you would like to share with the users?
Dronoms: I think the most exciting update is the fact that our governance token is getting listed on MEXC!
In the coming weeks, we will be supporting limit orders, a slightly more advanced UI for traders, trading competition, rewards for using the platform and more.
Iris: If you were to summarize your project in ONE word, what would it be? Why?
Dronoms: ‘DeFi’ I know most dApps today claim to be this
But this best describes Marginswap, because the most popular DeFi projects in the market today are either trading aka swap-, lending and/or borrowing protocol.
Marginswap is a sum of all these features in 1 ready to be used protocol. You can trade, both sport and margin, lend idle tokens for yield and even borrow tokens you need but don’t want exposure to.
Q1. Is marginswap audited yet? And how to use the platform
Dronoms: Yes Marginswap was audited by Certik and we also sponsored a competitive hackathon with https://code423n4.com/
Check out the app here https://app.marginswap.exchange/swap
Q2: Is this platform suitable for Crypto beginners? Or does it only appeal to professional users?
Dronoms: Being familiar with the Uniswap UI will make it easier to open leverage trade on marginswap.
But to supply loans (lending) is actually quite easy and anyone should be able to lend on the platform.
Q3: Can you share to us your tokenomics? How much is the total and circulation supply of your tokens? Will there be buy back system or token burning in the future?
Dronoms: There will ever be 10m tokens in circulation and 40% is owned by the protocol (governance). About 60% of the tokens are already in circulation and a good amount of this percentage are staked by holders or in the uniswap liquidity pool.
But check here for a more detailed breakdown https://docs.marginswap.exchange/mfi
MEXC Global: https://www.mexc.com/