AMA Recap — Dex Mainnet Launch on ZeroSwap
On Friday, 19th Nov 2021, Zeroswap Team joined the Zeroswap Official Chat for an Ask Me Anything session with the community members. The Panel included Aayushi (Zeroswap COO) and Vivek (Zeroswap CBO).
The primary focus of this discussion was around ‘Zeroswap DEX and the journey ahead’. We also discussed the governance token and DeFi Wizard roadmap.
For those who missed the LIVE AMA, we’ve created a recap of it here.
For your convenience, we’ve gathered all questions and answers given during this event below. Minor edits were made for clarity.
Prajjwal Yadav (Marketing Lead)
Aayushi Jain (Co-founder and COO) & Vivek Kumar (CBO)
📍 Venue: https://t.me/zeroswap
🗓 Date: 19th Nov’21
⏰ Time: 3:00 PM UTC | 8:30 PM IST
Hello everyone, 👋
I am Prajjwal (Marketing Lead — ZeroSwap)
On behalf of the entire ZeroSwap team, I welcome you all to this AMA session.
Today we have with us our COO & Founder — @a17jain and our CBO — @imavericks
As you all know, We are launching Zeroswap on mainnet, and hence this AMA would primarily highlight the upcoming Mainnet Launch and Roadmap Ahead of that.
But first, thanks to all the community members for asking us the most significant questions, we got more than 400+ questions, out of which we shortlisted some imperative and meaningful ones and we will primarily focus on these questions.
We always try to be available to the community and answer their queries promptly. But AMAs are a way to clear out queries, which we may miss out on occasion.
Let’s begin the session, I would first invite @a17jain who will throw light on the upcoming DEX Launch, and later @imavericks would speak over the business growth and future of ZeroSwap X DeFi Wizard.
Hi Everyone, Thanks for joining us, and supporting us in the past 1 year. I am glad and also anxious as we are nearing the DEX Launch.
Let’s begin ❤️
So, @a17jain a lot of users had a common query about WHY BSC and not another platform?
Even though we covered a few points in our tweet, can you please throw some more light on this?
Of course. So let me paste the exact question which was asked
“Why did you choose the #BSC platform for Mainnet Dex Launch and not another platform?. Are you planning to list on the Binance exchange?”
Numerous Reasons, behind this decision.
1. The #BSC Chain has shown tremendous growth, since its inception, as you can see the tweet from Binance itself, https://twitter.com/BinanceChain/status/1460922056388710400?s=20
2. User experience — This is a major major deciding factor for us, ethereum and uniswap showed us the strength of a Decentralised world, but the barrier to entry is not very easy in the case of #ETH. Say an intern at ZeroSwap might not be able to try out products built on top of ETH for a single reason that it has a too high a cost. Binance solved this well.
3. Volume, Liquidity, and Slippages — If you see any small-cap coin <$50 million, which is on both ETH as well as BSC, #BSC is a clear winner, for the reason, that adding and removing liquidity is easier on #BSC, trading is easier, and therefore there is a higher volume.
4. $ZEE Staked — Staking $ZEE is the prerequisite to swap in a gasless manner on ZeroSwap DEX. we have the highest no. of stakers on the #BSC side. Therefore Binance is a clear winner.
Great. Next Question.
Q2) Since ZeroSwap is a Multichain Project, Does gasless swap make sense in blockchains with small commissions like Solana, polygon, etc.
Yes it makes sense is a very useful feature, if you have used UPI, which is a Unified Payment Interface in India, it has made payments hassle-free, you do not have to worry about the charges a card company, say, master, visa, Amex would charge from you. Just open any UPI app, make the transaction, and voila. Now UPI has solved two problems, one is you can access all your bank accounts in one app, second zero-fee, zero transaction fee. It has been a game-changer for the payment industry, it has leveled up the transaction experience for customers 10x.
If you come to Zero-Swap, first you can access all these chains in one app, second, you never have to think about the transaction cost. It would just be so easy. Every penny saved has value for customers.
All the aggregators work in such a manner, look at Amazon, best rates, one app, hassle-free, everything under one roof.
Makes sense! Every penny counts!
Alright, next question
Q3) I want to ask how does your 0 transaction fee model fits in your economics. Is it sustainable in the long run? I’m asking this to understand the fundamentals as the concept of 0 fee trading is very attractive!
Zero-Swap is an aggregator so that we won’t charge any fee of our own, but when the transaction gets processed via a DEX, say uni swap, in that case, uni swap would have its fee. Well, I envision that business owners take care of the gas cost, not the customers. So we plan to charge fees for transactions from the company that wants to list on Zero-Swap DEX. Initially, we will enable trading for all the pairs. Later, we will ask the companies, say compound finance takes care of the gas cost, and of course, they can, it will improve the customer experience, and all the big blue-chip companies have a good balance sheet to take care of gas on their own.
It pains me, that customers are burning holes in their pockets to use the products the dAPPs, this is the biggest blocker for the adoption of blockchain-based applications.
So we can implement the zero gas feature by balancing out the business cost from other sources and charging from coin companies for the gas.
Sounds like a solid plan! Talking about the Business side, I think @imavericks can help answer this one.
Q4) What are your plans concerning the future revenue sources of Zeroswap?
We have multiple revenue sources under Zero-Swap, first is the IDOs, second, we acquired DeFi Wizard. As you all know wizard is a B2B2C, i.e we provide business solutions to various other blockchain companies and then they provide services to customers. It has a lot of value addition and is a constant source of revenue for us. To date, we served over 50+ clients.
We are primarily using this revenue to do a buyback for tokens, second building products which are customer-friendly with razor focus!
That’s great! Talking around the whole NFT gaming space and hype around metaverse, we have a user ask us an interesting question
Q5) What do you think about launching an NFT game, metaverse, or adding these elements to the ZeroSwap Ecosystem?
Metaverse is a pretty interesting concept, the world is moving towards, art and digitization of art, along with giving value back in the hands of artists, indeed Zero-Swap would go all in. Here’s how.
1. NFT minting on multichains as a service.
2. Stake NFTs and earn tokens as rewards.
3. Move NFTs cross-chain.
Next week we are launching Initial Meta-Verse offering along with a grants program for metaverse projects.
Talking about DeFi Wizard
Q6) After acquiring DWZ, are you merging it with ZeroSwap or keeping it separate out in the mere future?
I have studied numerous cases during my master's in management, about mergers and acquisition, and we have been thinking on the lines of how it should happen in the Blockchain industry, with two companies having tokens, basically publically traded.
In the longer run, this industry will shape like an airline industry and will witness a lot of consolidation which also means that we will see more integrated solutions.
There are many challenges of running two separate brands, one is managing two tokens, is a tough job, exchanges, volume, customers, priority, with the same amount of time, the attention two both our companies is becoming difficult day by day + value add to customers is the most important fact.
Therefore we are deciding on a merge between ZEE and DeFi Wizard.
So we will reward both $ZEE holders and $DWZ holders with this joint value proposition ❤️
We want to answer some queries asked by DeFi Wizard customers.
If we can cover these points in AMA (Questions)
Q1. What is the updated roadmap of Dwz and how much have we successfully completed the roadmap.
Q2. What benefit does the end-user (not companies) have holding Dwz?
Q3. When will be the staking for Dwz start again?
1. Roadmap for DeFi Wizard — Merging with ZeroSwap, and providing a much higher value to customers. The second is launching multichain farms, third is adding more products under DeFi Wizard, NFT Staking as a Service, NFT minting, multichain disperse app, etc. We will retain the brand name DeFi Wizard, under the ZeroSwap umbrella as well.
2. End-user currently has a value that is not reflecting on the market price, after the merger the value would be multifold, he would be able to access gasless trades, participate in the DAO, get access to multichain farms, etc. So higher, greater, bigger, and nonstop value unlock is on the way, just give us time and we will deliver.
3. For now we have not thought of staking for DWZ
4. DWZ is only on the ETH chain, but we would soon expand it to BSC, till the merger is happening we would want to give users to explore trading which is easier.
Q) How will the merge happen? Does merge mean only 1 coin will be there in the future?
Value after merge: Merging would happen with equal value add, in fact, more to the customers. We are always focused on value unlock, greater value offering to holders.
Does merging only 1 coin will be there: No there won’t be 1 coin, there would be 2 😉 How? Please wait and let the magic unfold ❤️
Let's talk about the governance model which is mentioned as we have a similar question for the same
Q7) When is token governance for the platform?
Governance is a must, mandatory, we as a team feel that the community should be totally involved in shaping the future of the multichain giant ecosystem that we are building. Soon after the merger, governance would come up, and customers would decide on many imperative aspects of the protocol. Say adding or reducing APY in farms.
How many $ZEE should be staked to have free trades etc.
Talking about the community shaping the future, let’s discuss DAO.
Q8) What will DAO be used for, what is its function in the ecosystem?
DAOs are a pretty interesting concept, and indeed ZeroSwap would be the largest multichain DAO, which would shape up in such a way that, chains can take feedback from ZeroSwap DAO to make changes to their functionality. ZeroSwap DAO as I see will add value to both the internal feedback and improvements, but also the DAO members can govern chains externally.
I am understanding that we have covered moreover a lot of questions.
I would like to end this AMA here.
That’s good to know!
I’d like to thank both @a17jain and @imavericks for taking out time and sharing detailed info about the BSC dex and some alpha news too about DWZ merge and the governance model!
Thanks for all the time, everyone. Have a great weekend.
We are never stopping to create, creation is our hopium. The motto of the Zero-Swap team.
It’ll for sure be an amazing weekend with all the good news being shared and obviously, we get 1 step closer to the launch on the 25th.
Thanks again, everyone!
About ZeroSwap and ZeeDO
ZeroSwap is a multi-chain compatible decentralized exchange aggregator focused on making zero-fee transactions possible. We aim to make on-chain trading simple and easy by providing access to Ethereum, Binance Smart Chain, and DEXes access under one roof.