Last week Scaleswap team hosted a joint AMA session together with Polygon’s founder, Ajun Kalsy. Within the range of 15 most interesting questions, we covered topics like Polygon, the analysis of projects for IDO listing, and many more! We put timestamps on every question for you to jump to your favorite part right away.
We sincerely appreciate all the interest and support of our loyal community. Therefore, we’d like to take the chance and say thank you once again.
Youtube Link:https://www.youtube.com/watch?v=S4vF_sR9dco&t=4s
1:50 What are some numbers of Polygon development statistics since it has such a thriving ecosystem?
Back in July 2020, when our main net came out of beta, to now, July 2021, we have 500 apps deployed! We perform 6–7 million transactions daily, have over 2 million unique wallets.
3:45 Why did you select Polygon as a core technology to build Scaleswap on?
Back in May 2021, Polygon was a clear choice for us. After some tests, we realized that the amount of transactions per second is good, the speed of transactions too. It’s complete, even compatible.
6:00 Will you provide IDOs just on Polygon without an Ethereum network, or not?
Standalone usage of Polygon is possible, but we created a hustle-free bridge for the Ethereum community. A lot of users don’t know about Polygon, don’t know how to change networks, and aren’t really educated on these things, and therefore, that’s the way we help them. It’s hustle-free participation in the pool — they have all the advantages of Polygon with around zero transactional cost, the immense speed of transactions, and they are staying on Ethereum.
8:45 How important do you see launchpads for the further development of the Polygon ecosystem?
This is an essential aspect of every network to support new projects and then support new teams trying to build something. One thing that struck me about Scaleswap when I first spoke to them was industry veterans. They have a very rich, respected background in technology and a structured step-by-step approach when launching things. All of these factors give me confidence that the Scaleswap team knows what they are doing.
11:15 Scaleswap reached another level of scalability on Polygon through developments (2k transactions per second). Can you please share more about that?
Scaleswap has another significant partner within the infrastructure, the Economy. The Economy is a relaying project which relies on meta transactions from Ethereum to Polygon. Together with Economy, we tested different setups several weeks ago and found one setup where we could push 2k transactions per second into the Polygon network without any problems. I believe that we can even go beyond this number. To my knowledge, it is one of the highest throughputs overall into Blockchain.
15:14 Where do you see the most significant advantages of Scaleswap (among other launchpads on Polygon)?
It’s a particular advantage that Scaleswap built a bridge from the Ethereum community to Polygon. Apart from technology, what makes us unique is that we stand together for absolute values like being transparent with our community from day one — being open and honest, being fair, and being market independent.
19:93 What are the strongest sides of Scaleswap do you see from your perspective? (To Polygon)
Scalescore system will give better chances to users on getting their allocations, and ultimately, that’s what you need for the community to participate. It is not about just selling the token; it’s about how many holders you have. This eventually becomes a community.
21:42 How did the idea of the Scalescore come to your mind?
We simply did some brainstorming and said, we want to make a difference. Ralph did extensive research, looking at other platforms, trying to understand what is the problem. The biggest problem identified was that it wasn’t fair. Because of this, Scalescore is a central element of our platform. Of course, there are other elements like another technology infrastructure. Without them, the platform wouldn’t work.
25:55 What features were crucial for you in the decision of taking Polygon as a support technology?
The number of transactions per second, high performance, cost of the trade, effortless integration. Polygon is also entirely EMV compatible. You can write smart contracts in solidity language, and they are deployable just like regular smart contracts on Ethereum.
31:37 Do you think Polygon can make the ecosystem function in a way that becomes independent of bitcoin price?
Building any kind of crypto infrastructure that is independent of bitcoin will be rather challenging. Anyone in the Blockchain ecosystem depends on the crypto market, even if it doesn’t matter in reality.
38:51 How can SCA encourage market liquidity, and does SCA have an in-house market maker to ensure continued liquidity?
We have partners that are working in the area of market-making. Liquidity provision is a very central point overall, but it’s only one of the factors. The overall attraction publicity and the demand for the token are significant, but at the same time, you need to provide them according to liquidity.
42:21 How do you evaluate and check projects for listing on your pad. Also, given that there was a slight delay to Scaleswap IDO, how did Scaleswap manage the other projects lined up for their IDOs, etc.?
We received many applications, but we are not allowed to announce publicly any kind of application forms or application procedures for the IDO simply because we were not live yet. We started sharing some links with our close network, and we received a few hundred applications already and evaluated them.
We analyze a lot of factors like:
- Project’s stage
- Its readiness
- If there is an MVP working or a product prototype
- Team’s expertise and strengths
- How they are financed up to date
- What investors they have.
- Tokenomics and token metrics ( vital for tokenized projects)
- Investor scope build-up
- Project’s structure
- legal structure
- The community behind the project
- The demand for the product or technology from the community
50:33 Would you like to share your thoughts too? ( To Arjun) You talk to so many startups every day. What is essential to look at while evaluating them?
When evaluating a project, I look at:
- If that is a problem, is it a genuine problem in the ecosystem?
- Are there many teams solving this, or are they the only ones, and most importantly, how are they solving it?
- Is there anything that will lead to it being performant?
What makes sense as another important thing is also the team.
- Is the team anonymous?
- Do you know if the team has had any projects in the past?
- Is it a new team?
Teams that have done projects in the past and have a track record have a greater chance of doing things right. Sometimes if the teams have that little x-factor, they can overcome deficiencies.
55:40 With so many projects for attention, how to achieve the network effects and indicate success?
Speaking about the success, you built a product, and there are happy users for your product. The more comfortable they are, the more successful we are as a project.
62:41 How do I measure success for Scaleswap? If I look back on the 19th of July 2022, I’m looking back one year since we went live. How can I say the majority of the projects launched on our platform made a real difference?
Scaleswap delivers excellent products and creates some innovation. It brings real value to the space developed into successful ventures or a decentralized government organization.
