Discord Community AMA Recap

Published in

Zap Protocol

5 min readSep 28, 2021

Our team at Zap would like to thank everyone for participating in the Discord AMA held on Sept. 22nd, 2021. This is a recap of some of the most frequently asked questions, which are answered below:

Will the updated whitepaper be released before the end of Q3?

Yes, our team is working on achieving this currently. There were some technical details that we wanted to go over before finalizing the whitepaper itself. Some of the technical aspects were determined along the development journey by both testing and community feedback.

When will bonding curves come into play?

The Zap Launchpad uses bonding curves to allow for continuous and discrete fundraising beyond traditional ICO models. On the Zap Launchpad, users will be able to mint and burn tokens from each Bonding Curve Offering (BCO). Bonding curve offerings encourage early adoption. Users will be required to use Zap Token to be whitelisted for BCOs. The Zap Launchpad is part of a later rollout following the release of ZapSwap decentralized exchange. Zap Labs also has several NFT features being researched that would utilize bonding curves.

What is going to make our products awesome?

The Zap Labs research team is presently looking into new and emerging technologies that will make our project stand out. Fractionalized NFTs (F-NFTS), re-fungible tokens (RFTs), and parametric drops are some examples of features our team is looking to implement after release.

When can token holders start staking Zap? What are the specifics including yield?

Setting up an oracle validator node requires staking 250,000 ZAPtokens. The reward structures are dependent on time, and we can work that out and then have a community vote on which rewards will be applied after the initial release. We are releasing the Zap Oracle Network once the audit is finalized. Our goal is to establish business partnerships and build a robust ecosystem with this network. Users can test the current mining application running on testnet by following directions on our Github.

Will Zap be providing oracle services or price feeds for NFT’s?

Zap Protocol has oracle data feeds that we’re writing our dApps on top of, and we knew that we had to focus on the protocol layer itself to provide these services.

When Zap creates contracts, how are they tested internally?

We have a local blockchain; the premier tool used for that is called Hardhat. Blockchain professionals who are interested in writing Solidity smart contracts, and testing them on their own computers, create a personalized Ethereum node. Since it is a local blockchain, there are no outside transactions to slow the network down. There is a public repository on Github, and anyone can see how the contracts are written and tested.

When are we going to be on BSC mainnet?

We are waiting on a final audit for our smart contracts. We must do that first before we launch anything. If the audit process is not finished by the end of the quarter, we’re not going to launch on mainnet unaudited. The Zap Team values providing secure and robust products to our users. Our team is working closely with industry experts at Omniscia during the audit process. We will continue to update the community on the status of the audit.

When will the new UI be released?

The rolling release of the updated UI will happen in real-time, under your feet, similar to leading social media platforms. We have several previews prepared for the redesign to showcase in anticipation of the release.

Are we in contact with Flare and looking into a partnership?

Yes, as soon as our oracles & other services are on mainnet we have the ability to contribute to other networks.

How is Zap planning on supporting artists?

There is a 5% platform fee that is charged on every sale of an NFT. Platform fees on other marketplaces range from 2.5% up to 15% in comparison. A generous 3% of the platform fee goes back to the community in the form of ZAP tokens as a reward, while the remaining 2% contributes to further development and marketing of the platform. There is no minting fee on the platform. We have several initiatives planned for featuring artists within our marketplace and externally as well, on our various platforms. We plan to host events both in-person and online for both artists and collectors.

What other chains is Zap looking to get on?

Our team is exploring various Ethereum Virtual Machine (EVM) compatible projects such as Telos EVM to deploy our existing contracts. In addition, we have a team working on porting to the Cardano ecosystem.

Where do you see Zap at the end of the year?

By the end of the year, we plan to have a fully functioning and audited DeFi platform: NFT Marketplace, DEX, and Oracle Network.

Is there a marketing plan that will be implemented in conjunction with the end of quarter three, beginning of quarter four?

As for the marketing rollout for these new features, the first priority is the Oracle Network and establishing ecosystem partners. The NFT platform, since it is user-centric, requires greater attention to detail in regard to user experience and extensive community building. We plan on throwing an in-person launch party for the NFT marketplace at the end of October. There are several other major NFT events happening in NYC around the same time. In the meantime, we will be hosting weekly community calls every Friday on the Zap Official Discord. Other community events, podcasts, youtube interviews, and Twitter Spaces discussions are also planned. A full redesign of the existing website and applications will also be rolled out as these features come online.

About Zap Protocol

Zap Protocol provides critical infrastructure built to power the next wave of decentralized applications. Be ready to swap tokens, earn rewards by validating oracle data-feeds, mint NFTs, and raise funds with custom bonding curves. Zap Protocol is blockchain-agnostic and currently live on Ethereum Mainnet, Binance Smart Chain Testnet, and many more to come.