Cyclos x Satoshi Club AMA Recap from 5th of September
Hello, Satoshi clubbers! Another AMA took place in Satoshi Club and we would like to introduce to you the AMA session with our friends from Cyclos and our guests were @Danitoto @secretshardul. The AMA took place on 5 September
The AMA session was divided into 3 parts with a total crypto reward pool of 500$
In this AMA Recap, we will try to summarise the most interesting points for you.
Part 1 — introduction and questions from the Telegram community
Mary | Satoshi Club: Hello Satoshi Club! We are happy to announce our AMA session with Cyclos! Welcome to Satoshi Club
Gold Rocket | Satoshi Club: Today our guests are @Danitoto @secretshardul
Gold Rocket | Satoshi Club: Hello and welcome to Satoshi Club, guys
Daniel: glad to be here
Mary | Satoshi Club: Welcome to Satoshi Club
Gold Rocket | Satoshi Club: Nice to e-meet you
Shardul | Cyclos (will not DM): Hello everyone
Mary | Satoshi Club: So, let’s start
Gold Rocket | Satoshi Club: Nice to e-meet you at Satoshi Club
Let’s start! Introduce yourself please. How did you get to be involved in crypto & Cyclos
Tell us please about your position in Cyclos
Daniel: Sure. Our team was founded in May 2021 when my co-founder (Shardul) and I were introduced by a mutual acquaintance in the space. Shardul was going from hackathon to hackathon making very cool web3 apps and I was with Binance Research at the time. We had an ongoing discussion between the two of us on where defi is heading and ways we could innovate the existing landscape.
Personally, previous to Cyclos, I spent two years with Binance Research. While I obviously can’t get into the specifics, our team handled project related matters. The knowledge I gained from those two years working with some of the best projects in the space is what I’m applying to Cyclos.
Mary | Satoshi Club: Also, tell our community what is Cyclos and it’s goals
Gold Rocket | Satoshi Club: you are very passionate about crypto guys
Mary | Satoshi Club: Oh, i can only imagine which experience you got there
Gold Rocket | Satoshi Club: Give us a brief introduction to the project. What is the essence of Cyclos
Shardul | Cyclos (will not DM): Cyclos is a Uniswap v3 style concentrated liquidity market maker on Solana. Our unique proposition is that we make liquidity on Serum, benefiting from ecosystem wide liquidity and order flow. In the case of Uniswap, their liquidity is siloed
Gold Rocket | Satoshi Club: this is really a very unique solution
Btw we would like to know more about your team. Who is on the project team core?
Daniel: Myself and Shardul make up the project team core (we are the two founders). We have 3 other team members at the moment- 2 other devs and 1 bd/marketing person. I explained a bit about our backgrounds above.
Mary | Satoshi Club: Is Serum your partner?
Daniel: Serum has assisted us along the way and we work closely with them
Gold Rocket | Satoshi Club: Is your team anonymous? If so, do you plan to step out of the shadows one day?
Mary | Satoshi Club: Not so big team, but you make big things! And i believe you can do much more!
Gold Rocket | Satoshi Club: This is a great partner, you’re in luck.
Shardul | Cyclos (will not DM): Our team is public and fully transparent, you can check our names and pics
Mary | Satoshi Club: Rare thing nowadays
Gold Rocket | Satoshi Club: Thanks for your answer. this adds the user trust to the project
Q1 from Telegram User @DK177
Your IDO is tomorrow! Congratulations. However, I found this announcement while researching for this AMA. Hope I am not too late. Can I still apply to get whitelisted? What I can do to increase the chances of winning a slot in the IDO? Please let me know the minimum and maximum USDC amounts allocated for a single wallet. In case I miss your IDO, what is the next event of your token sale?
Shardul | Cyclos (will not DM): In case you miss the IDO, we have a second public sale event on Gate.io starting at 4AM UTC on September 9th. If you would like to insure you have a shot at participating in the IEO on Gate, pleae read this link for more detailed instructions: https://www.gate.io/en/article/22293/?ch=en_sm_0921
Mary | Satoshi Club: But you will have one tomorrow? Is this right?
Shardul | Cyclos (will not DM): Yup, that’s the IDO
Mary | Satoshi Club: Where will it take place?
Shardul | Cyclos (will not DM): IDO- Solanium
Mary | Satoshi Club: How many people apply for whitelist for the first?
I know that Solana projects are on fire now
Daniel: we’re not sure as that is information only available to Solanium
but it’s near 100,000
Gold Rocket | Satoshi Club: Sounds good
Shardul | Cyclos (will not DM): Well, we have 126,444 people following Cyclos on Solanium
Mary | Satoshi Club: Crazy numbers
Shardul | Cyclos (will not DM): https://www.solanium.io/project/cyclos/
Mary | Satoshi Club: It won’t be easy to buy
Daniel: that’s why we are doing a dual IEO/IDO
Mary | Satoshi Club: But Satoshiclubbers still have chance to join Gate.io ICO
Q2 from Telegram user @Emnking
Cyclos as a concentrated liquidity market maker is built on Solana. How is Cyclos different from other liquidity makers on Solana like Bonfida and Raydium. These platforms distribute liquidity by spreading each liquidity providers capital from the price of 0, similar to the same way Uniswap v2 does. Is Cyclos different from these platforms and what are the ways Cyclos try to be the best among competitors in this circle?
Shardul | Cyclos (will not DM): The main differentiator is how Cyclos positions liquidity versus how Raydium and Bonfida position liquidity. To put it simply, as referenced in the question, Raydium and Bonfida distribute each LP’s liquidity across a very thin price curve starting from 0 up toward infinity. This means the actual amount of LP assets which are actively earning LP rewards is negligible. This is especially counterproductive for assets like stablecoins which tend to remain within very narrow price margins. With Cyclos, each LP chooses the price range at which they want their liquidity to be positioned, allowing for a much greater percentage of their liquidity to be utilized for trading as the price moves within the LP’s selected range. This option is superior not only for increasing the rewards LPs receive, but it also allows traders to execute larger orders with less slippage.
Mary | Satoshi Club: Did someone ever try to implement such system?
Shardul | Cyclos (will not DM): Not yet. Even if someone does, we have the first mover advantage for concentrated liquidity
Mary | Satoshi Club: Is your AMM working now?
Shardul | Cyclos (will not DM): Our swap is functional, and you can try it out now on https://app.cyclos.io. In the meanwhile we are getting the liquidity zone ready, and building cool features like price charts for traders
Mary | Satoshi Club: It’s cool, you will be first who i will try on Solana
Q3 from Telegram user @Jmagsss
Based on your documents, Cyclos allows liquidity providers to select the exact price ranges at which their liquidity is active. What if there is an event of massive price fluctuations and volatility in the market and the current price of a token that time does not match any of the Liquidity Providers’ desired price range, does that mean there won’t be any liquidity available since all of the LP is inactive? Does Cyclos fills up the gap of any unwanted price range and provide liquidity itself?
Shardul | Cyclos (will not DM): No, because
a. We are providing liquidity on Serum’s orderbooks, which have multiple sources of liquidity, or “ecosystem wide” liquidity as it is called.
b. even on uniswap v3, the data has shown LPs position liquidity at multiple ranges to take advantage of price swings and profit.
Mary | Satoshi Club: What are your users feedbacks? Are they feeling comfortable with current system? Users usually vote with money, so, how about volume on your platform?
Daniel: Well, we are working on new features as Shardul mentioned, for a better user experience. I would say we have not been actively promoting the swap until recently, because there were still minor tweaks being made. However, since early on we’ve had a lot of traction despite the fact we made no effort to advertise swap.
Mary | Satoshi Club: Got it! Sure after IDO/ICO things will go faster!
Thank you for your answers! Ready to jump to the next question?
Daniel: yes please
Q4 from Telegram user @Josegamboac
Cyclos has several mechanisms built into the utility that allow token holders to benefit from platform development, similar to CAKE or QUICK. A portion of the trading fees and earnings from the platform are used to make buybacks on the open market and burn $ CYS. What are the built-in utility mechanisms that allow token holders to benefit? What are the characteristics of $ CYS? Real utility of the token within the Cyclos ecosystem?
Daniel: I like the comparison to CAKE and QUICK. Imagine getting in on those projects this early
Anyway, the main utility is CYS token staking: Firstly, any user who uses our swap will be able to stake CYS tokens for swap fee discounts. This utility will be built in from the start. Secondly, a portion of the swap fees will be used for open market buyback of CYS tokens, which are distributed amongst stakers.
Next, we will also conduct buy and burns: a portion of the platform profits will be used for buy and burn of CYS tokens, to deflate supply.
CYS will also serve as a liquidity mining incentive to help encourage users to come to our platform and stay for the discounts / rewards from holding the token.
Finally, it will also be used in our governance, when we launch it.
Mary | Satoshi Club: When do you plan to implement governance? How it will work?
Gold Rocket | Satoshi Club: good use case
Daniel: We plan to implement it in December. We will release the details at a later date.
Q5 from Telegram user @victorogb
The Cyclos project is backed by a formidable group of investors, offering both technical and financial support. Even as project development quickens with an anticipated IDO in less than a day, how will Cyclos effectively manage it’s marketing, promotional and partnership obligations, what are your plans to attract viable investors and partners whose ambitions align with your goals and solutions, and how best will you seek the support and corporation of your community, would you organise programs and events that promote generate useful engagements and meaningful feedbacks?
Daniel: This is a multifaceted question. On the question of attracting investors, we have already done so through our private sale, and believe we’ve put together an exceptional group that is here to support the project for the long run.
When it comes to marketing, a big part of that push was bringing on influential opinion leaders in the space who are very selective with the projects they support, and chose to work with Cyclos because they recognize the game-changing potential of the core product. I would say we’ve ticked those boxes at this stage.
Our focus is more so now on building out a community of core supporters who want to grow with us as the project gains traction, as well as foster a greater understanding among hodlers of how using our product can greatly benefit them, compared to other LP products. Part of this will include the launch of a multi-language based content campaign, as well as continued grassroots community building.
Mary | Satoshi Club: Can you disclose the names of your private investors?
Gold Rocket | Satoshi Club: are you planning any ambassador program?
Daniel: You can read about them yourself here
We will launch one in the coming month.
Mary | Satoshi Club: And yes, community is the key! Sure you will get members from Satoshi Club
and don’t forget to share your content campaign with us! We have a lot of talented people here
Gold Rocket | Satoshi Club: Wow! these are famous influential names
Mary | Satoshi Club: Familiar names, congratulations
Q6 from Telegram user @Jonahapagu
It is stated that Cyclos, has taken what it believes to be the world’s most efficient limit order system and deployed it on Solana…and Users can concentrate liquidity, while also constructing individual price curves of their choice, over which their assets are distributed….so how does this efficient limit order system work, what are the features of the limit order system that makes Cyclos believe it is the world’s most efficient limit order system, and how can users construct individual price curves of their choice using Cyclos.
Mary | Satoshi Club: Partially covered i guess
Daniel: To be clear- concentrating liquidity by definition is constructing individual price curves of their own choice. The system is quite simple. LPs select an asset pair and decide what price range they would like to place their liquidity along. As long as the price of the base asset is within the range of their choice, their liquidity will be actively utilized to make markets on Serum. Each LP’s price curve is placed on top of one another, and rewards are distributed according to ratio of each LP’s holdings.
When it comes to limit orders, Cyclos can be utilized to execute range limit orders. However, Cyclos itself does not execute limit orders. Limit orders are a function of the underlying orderbook, Serum, to which we are providing liquidity.
Mary | Satoshi Club: That’s clear
and i want to ask you my favourite question
is your platform safe? What about any audits?
Daniel: We are working with the top auditor in the space- Halborn. Security is our top priority.
Mary | Satoshi Club: Great! Happy to hear!
Part 2 — live questions from the Telegram community
Q1 from telegram username @doithay1617
Hello @Danitoto @secretshardul
What does Cyclos think about Hackathons? Has Cyclos ever participated or organized any Hackathon? And does Cyclos have a plan for a future hackathon?
Daniel: We started our project from a Solana Hackathon. In fact, we won several awards from it. We will also be hosting our own sponsored Hackathons to further development on the platform.
Q2 from telegram username @Kabirkapoor9
Can we Expect Cyclos will consider deploying on other chains too in futurefor diversification purposes? What will be those?
Daniel: Great question! We will be launching on Solana, but definitely will not rule out launching on other chains in the future. For right now though, our focus is on Solana.
Q3 from telegram username @highpee
Your protocol appears to be OVER-RELIANT on SERUM DEX. Why do you prefer to link Serum? What will happen if an unforseen event impact Serum operation? Will Cyclos still be able to work effectively?
Daniel: Raydium, Bonfida and others all rely on Serum. That is the nature of integrating with a decentralized order book. As mentioned in the previous answer though, we are exploring a multi-chain future, which means building and launching our own dex solution on other chains.
Q4 from telegram username @shadnan3
is it global project or a local project? Can anyone use your project anywhere without any restrictions? thank you sir.
Daniel: Anyone can use our project from anywhere. It is a decentralized product and we welcome all users.
Q5 from telegram username @Karry1999
I really liked your project name “CYCLOS”
Will you tell us what does this name indicates and why you choose this name for the project ?
Daniel: Cyclos comes from the Ancient Greek word, kúklos, meaning circle. We chose this name as it embodies the positive feedback loop the platform encourages by delivering depth of trading volume. As more LPs contribute depth, over breadth, more traders can execute bigger, more frequent trades. This, in turn, rewards the LPs, who then have their liquidity automatically reinvested back into the order books (a feature unique to our platform). This virtuous cycle will transform the quality of trading on Solana for all stakeholders involved at each point in the process by elevating what is possible in terms of both trading volume and capital efficiency.
Q6 from telegram username @Shaa93
Is Cyclos a combination of Uniswap+Solana+Serum?
Daniel: At a basic level, yes it can be described that way.
Q7 from telegram username @Kushal85127939
Hello @secretshardul @Danitoto
How much you guys have allocated to Marketing like Airdrops etc of your total supply? Can we expect Airdrop of Cyclos token in near future? If yes, please share eligible Criteria for same?
Daniel: We will not be doing a traditional airdrop, but we will launch liquidity mining incentives for people that use our platform. There is also always the possibility we reward early users of our swap
Q8 from telegram username @messilolz
Sol price is rising in a skyrocket way . Is it why you opt to choose launch your platform on Solana?
Daniel: No. We chose to build on Solana all the way back in April. The price of SOL was a lot lower back then
We chose Solana because it was the only chain that supports a decentralized orderbook. It is high throughput and quick time to finality. Perfect for our product.
Q9. from telegram username @shakil425
Good day sir
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
Daniel: Yes! We support multiple languages on our discord channel here: https://discord.gg/gyaK56UreX
We also have a Turkish language group if that is what you are looking for here: https://t.me/cyclosturkiye
We will be launching a bounty campaign for speakers of other languages than English to translate our material into tutorials and instructional videos for rewards.
Q10 from telegram username @Rod092317
Where can I receive the most up-to-date information? Do you have a community on Twitter, Telegram, or Discord? If so, could you please provide the URL here, as there are many phony telegram/twitter groups?
Daniel: Yes! Please join our Telegram group here:
And follow us on Twitter here:
That way you can be the first to hear about all the latest updates.
Part 3 — Quiz Results
As usual, for the third part, Satoshi Club Team asked the chat 4 questions about the crypto project. A link to a Quiz form was sent into the chat.
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