Yesterday ( September 24th, 2020), SashimiSwap community host the 1st AMA about SashimiSwap v2.0, featuring aelf’s CEO & COO, Haobo & Zhuling. Below is a transcript of the questions and answers.
1Q: In terms of building Sashimi’s exposure, what will be done to promote the project as we move forwards?
A: First of all, we need the help from the community to spread the words about Sashimi — how fair it is built, how innovative the features, and how awesome the community is. Secondly, the product will speak for itself as Sashimi DEX, investment and vault will create enormous value to the community. And let’s get sashimi listed on more exchanges so that people get to know about it. (Zhuling)
2Q: Can we expect any big exchanges listing Sashimi soon? Many exchanges require some sort of payment or token gift, how will we promote Sashimi to other/new exchanges without a dev team fund?
A: If you look at the recent DEFI token listing on big exchanges, they are all free. The key is that they need to make sure the project is mature and safe (which sashimi is), and the project has a large community (we are building that with you). So it could be a matter of time for Sashimi to be listed on big exchanges. (Zhuling)
3Q: As APY drops from each block reward reduction, how will Sashimi continue to incentivize current and new users?
A: Yeah, i hope this is answered in today’s update. Sashimi 1.0 does not have any revenue generating mechanisms, instead it incentivizes users to provide liqudity to Uniswap (as opposed to Sushi sucks up Uniswap liquidity) and distributes tokens to . We are currently focusing on providing revenue generating services, such as AMM swapping, investment and vault. All these services will charge a transaction fee or create interest, which will be distributed back to token holders. This will make sashimi token highly rewarding to its holders and hence will increase APY. (Zhuling)
4Q: Will there be staking options enabled after Sashimi2.0 is released to incentivize holders?
A: YESSSSSSSS! (Zhuling)
5Q: What are the edges of Sashimiswap, over contemporary other swaps.
A: Compared to other Swaps, Sashimiswap innovatively introduces Sashimi Investment to make use of the idle liquidities. While maintaining sufficient liquidity to ensure low slippage for swapping, the remaining liquidity will be deployed to lending protocols to gain additional income. This is a game changer to increase the utilization rate of liquidity provided. And via smart contract, it also ensures all the funds are secure and immune to human manipulations.
Secondly, with Sashimi vault, user’s funds will be deployed smartly to farm in other protocols. For example, certain pairs can be used to double farm Uniswap, Sushi and at the same time to get Sashimi rewards. There are so many new protocols coming up, Sashimi picks the secure protocols to farm. Hence provide users additional revenue. (Zhuling)
6Q: How long the AELF dev team will continue to support it without any team rewards, and why?
A: I entered the blockchain industry in 2013. As an experienced blockchain practitioner, I saw many problems in the industry. The underlying performance, governance, development and other issues of the blockchain encouraged us to create AELF. However, we found that if we only work on the main network, there may be a lack of users and traffic. You know, Microsoft didn’t just make Windows, they made a very successful application called Microsoft Office. We build SashimiSwap simply for the initial traffic of AELF, and at the same time we also provide a value-added opportunity for ELF holders, who can provide liquidity to access sashimi. (Haobo)
7Q: In terms of txn cost and speed how does AESWAP fared in the test runs compared with eth chain and binance smart chain.
A: We can do zero fee, but AESWAP will pay 0.3% of the fee to the AELF main network, which will be determined by the AELF community. (Haobo)
8Q: The amount to attention Sashimi is receiving is not commensurate with its merit. Any plan of marketing for enhanced visibility? This is an honest project supported by a reputed team. It’s painful to see this project loosing to projects with dubious expertise and reputation.
A: Thank you for your kind comments! Let’s all push hard to spread the words and let more people try out Sashimi! In the future, why not the community make a proposal for the community to get donations for helpers to market sashimi to the market. The defi game is still at early stage — future focus will be on more rewarding features, user experience and less fees.I believe it’s yet clear who is the winner until we all fight hard. (Zhuling)
9Q: In my opinion, Sashimi started strong by not having a pre-mine nor dev allocation. Unfortunately, the pace of copy-forks of Uni/SushiSwap is high. Going forward, what will set SashimiSwap apart from other copy-forks? We are already aware of ‘historic’ reasons like a) named team from AELF, b) no pre-mine, no dev allocation, c) integration with AESwap. Is there more?
A: I believe the Sashimi 2.0 annoucnement has covered that. To recap, Sashimi has moved from a fork of Uni/Sushiswap to a fully fledged DEX with liquidity farming, with innovation investment capability to tap into idle liquidity, a vault to help users farm in other venues and lastly also a Sashimi bar to incentivize sashimi staking. Sashimi is equivalnt to Uniswap + Sushi + YFI in 2.0. The team has put a lot of thought on how to make sustainable tokenomics and reward users for their positive behaviors. (Zhuling)
10Q: It is my humble suggestion that we have developer-advocates or at least one developer that could shed some light on the progress being made regarding SashimiSwap (i.e. 0xMaki’s daily updates for SushiSwap regarding tech, new hires, marketing efforts etc). We understand that Aelf is backing this project and Aelf has no legal obligation to provide the community with updates, but it would be great for the community if one person from Aelf could be allocated to such a role (or hired from the community?). Will Sashimi consider being more integrated with its community in this manner?
A: The past few days the tech team has been super busy with Sashimi development (as you can see so many features coming up for Sashimi 2.0). We definitely would love to be more integrated with the community. We were a bit quiet as the team was working day and night to build and have to keep in stealth mode as the investment feature is brand new in the space! (Zhuling)
11Q: As developers, is there any way we can contribute to Sashimi? We see 3rd party web interfaces being built for Uni/SushiSwap. What is Aelf/Sashimi’s policy towards non-employee devs contributing to the project? How can we do so?
A: Yes, we welcome developers to propose new works on sashimi governance platform. Right now there’s no developers share (even the aelf team does not own any developer rewards). However, we would love to call for the community to donate to fund 3rd party developers, while aelf team keeps its commitment with no expectations of rewards — we just like to build interesting stuff. (Zhuling)
1Q: Will sashimi 2.0 use the same token as sashimi 1.0 or will it be a new token?
A: It’s the same token. just the protocol has more fun features.
2Q: When will 2.0 come out?
A: Less than a week. The codes are being audited by an international security company.
3Q: Will 2.0 have cross chain ability ?
A: Not at the current release. that will be a future feature.
4Q: What is the final total supply? Currently showing 51m on CoinGecko.
A: Max at 100mil, with a reducing inflation model.
5Q: Would you consider a save and borrow facility like compound?
A: Yes. So far this will be done through Sashimi investment to deploy assets directly into compound or Aave.
6Q: The investment section looks like a public cryptocurrency fund. How does the contract make sure the investor suffer low risk? All the fund are from Vault. If there is a loss, it is no longer a Vault.
A: Great question. The contract only allows assets to be put under lending protocols and hence principals are protected.
7Q: How to deal with liquidity exhaustion problem when too much token invested?
A: Only a certain amount of idle liquidity will be deployed with the precondition that the pool already has sufficient liquidity with low slippage. and aelf mainnet will be audited soon.
8Q: NFT are very big right now is this something which we could support like property deads bonds stocks art in investments??
A: Those can be supported by Sashimiswap in the future. But for now, let’s focus on supporting all ERC20 tokens and liquidity.
9Q: Why do we need the double farm? For incentive investor to increase the liquidity?
A: Double farming is to get attention from Uniswap users and potentially let them try out Sashimiswap, and you get higher APYs in this way.
10Q: Who gonna pay for the extra sashimi for double farm?
A: Think about this as an incentive to get more users move from Uniswap to Sashimiswap.
11Q: Will you migrate our LP tokens to the new sashimiswap tokens ?
A: This will happen soon and more instructions will be shared in coming days.
12Q: Can you elaborate how investment works? So for example a $1000 WETH investment will farm an x amount of SASHIMI, in return you will also get xLP which you can stake on other projects?
A: Let’s take this question when Investment is ready to use on the website. It will be very soon.