Introdution
Can you introduce yourself to our community?
Myself David Cooper, CEO of FINSWAP having an industry experience of more than 10 years. I had worked as a Senior Business Development Manager for E trade and IBM. This trading expertise has led to the birth of FINSWAP.
Hello Cryptoiz Indonesia! This is Michael Gohan here, Technical Lead for Finswap. I am a software developer by profession. Have combined experience of around 6+ years in backend technologies. I am personally interested in scaling and blockchain solutions.
I have been interested about the decentralised economy from my early Engineering days at University of Texas but unfortunately did not get a chance work directly within the space. Finswap has been a great experience providing excellent opportunity for me personally to work hands on blockchain technology.
Finswap provides users an unorthodox way of trading cryptos on decentralized exchanges with its advanced trading tools.
To join this platform, all you need is a web3 wallet and you are good to go.
For more info, check :- https://finswap.app
You can also get involved in our token ecosystem by joining our pre-sale at LID(finswap.lid.sh).
okay sir, before we start the segment 1 please give me code when you finish answer from our question with this emoticon
👍
SEGMENT 1
Q1. DeFI is the most popular in Crypto nowadays,
How do you see this defi potential for Finswap?
What role do you think Finswap Dex play for defi?
You definitely right in noticing that trend. This one of the things we are working on priority. We plan to integrate various defi protocols related to lending, staking etc on our platform.
In addition, we plan to combine these integrations and aggregations with trading protocols so that users can benefit from both at a centra place/single dashboard.
Q2. How are are you making limit orders possible your trading application and how are these executed?
We are capturing intent of user to swap the token at a particular price instead of normal market orders, we monitor the underlying price using highly scalable apis and execute user orders at their side when the price is met.
Q3. Does finswap has buyback policy for its token?
Our token utility model signifies the importance of token burn. Our plan is to use 60% of the fees generated on Finswap platform to buyback and burn them bringing in deflationary feedback based on platform usage.
This will provide an added security to our token buyers
Q4. How are user funds secure with Finswap?
We will never access any sensitive information like the private keys. The order which the user places will be executed at user side only ( say on Finswap desktop application ) and transaction broadcasted to blockchain. Funds and keys are never touched by us.
Q5. When will your product come out? Any ETA for testing phase and what is your current tasks?
We are currently in Alpha 1.0 stage where users can get a feel of our platform. Soon after our presale we plan to launch Alpha 2.0 where users will be able to connect their wallets and try placing their orders.
We already have an updated roadmap on our website
Q6. WHAT TECHNOLOGY STANDS BEHIND FINSWAP AND WHAT ARE ITS ADVANTAGES?
We are powered by our infrastructure, which we are currently being hosted on cloud, we have mini architecture setup for our own Ethereum nodes similar to infura, alchemy etc.
In addition, we are using apis from https://thegraph.com/ to render our UIs for graphing and other data.
Definitely we are powered by exchanges which we are build upon like uniswap, balancer, synthetix etc.
Q7. What current development of FINSWAP have been achieved such as partnership and ETC ?
Like i said we already have a prototype alpha version 1.0 updated on the website.
Behind the scenes we are working day and night to release Alpha 2.0 of Finswap platform very soon. We are committed to meet our goals and timelines as updated on the website.
We already have partnered up with Dextools, Lead Wallet and LID.
Many more to come and are in the pipeline. Stay tuned!
Q8. What is the governance model of Finswap token?How will your staking ecosystem ensure fairness and balance in the amount of power in decision-making in the community between the large and small token holders? And what are benefits when holding FNSP for long terms?
We planned to introduce governance into our token utility from starting. But we have current put a hold to this plan. We believe in initial stages it is better for project to be lead with decisions from core team. We definitely believe in governance model for project functioning and this is definitely one of things we will roll out as soon as product matures.
For fairness, we will roll out more details when introduce our governance model.
To answer this on high level, we will try to introduce capping for large token holders beyond certain votes
The benefits of holding FNSP are way too many.
1. The adaptation of Staking in Finswap model would lead you to get hefty returns while your tokens are resting in the wallet.
2. The tokens would be used to pay the transaction fees. Paying through FNSP would decrease your fees by 50% when compared to gas.
3. We have deeply integrated our platform with the token and our token acts as a fuel for our platform. Increasing adoption of our platform would mean increasing demand of our tokens
SEGMENT 2
What competitive advantages does your #FINSWAP platform have that make you feel the most confident?
Can you list the 1 and 2 deadly features of your current project that make you stand out from the crowd?
what is the #FINSWAP project, how does #FINSWAP develop in a time like this which is full of calamities such as covid-19 which is on the rise, what steps will you take in the future and what are your targets for the next 5 years?
When we talk about competitive advantages, we are blessed to be the front runners in revolutionizing dex trading.
Two features that stands out are :-
1. stop loss, limit orders on dex
2. Our API’s are not single dex dependent and would be able to integrate with many dex’s in the future.
Targets :-
That is mentioned on our roadmap.
After that our focus would be on community adoption
Currently issuing tokens is a rather simple process. However, building a system, an ecosystem, & stabilizing prices is the hardest part. My question is, how can the #FINSWAP team solve this problem?
This is a holistic question. We have prioritized building our platform and that’s why we have put our heads down to roll out our alphas even as we continue with our sale. To build an ecosystem we will leverage communities from dex exchanges that will want to use our platform for advanced features. Similarly we will be able to capture defi segment if we integrate protocols well on our platform. For price and token stability, we have introduced burn mechanism for deflationary effect, as well as we have partnered with LID for pre-sale allowing maximum token supply to be locked on LID contract. LID will also lock 60% of eth raise to provide high liquidity at uniswap. This will again be complimented by 15% of eth raised to buyback tokens supporting token price.
Marketing strategy is very important. A product can be established on the market without marketing and promotion, whatever it is good. So what are your plans for this? How will you build strong relationships with communities?
#SuccesForFinswap
Yes, marketing does play a very crucial role. But at the same time it has to be organic. We believe in developing our platform and then woul ask the community to grill it.
Also we have plans to launch podcast inviting various dex’s and test our platforms. We are also looking for possibilities of cross dex collaborations
Have u achieved all things that u targeted ??
What’s your target in coming year??
We are very sure of achieving them. We have our alpha prototype built already. After the sale we are committed to meet the roadmap timelines . Visit our website to view our roadmap :- https://finswap.app
what is the solution if There are No Advanced Trading Tools like Margin or Leverage ? @finswap_michael
We see certain project that have started to offer margin and leverage over decentralised exchanges. However we feel that this is very risky given complex contract execution backing and working in sync for such executions. But we feel as the dex space evolves, this will be one of major demand and we will plan to cater the same. It is just that it’s not our priority right now.
The main problems in the swap model are high exchange fees, low liquidity, wide spreads and slippage between orders. How did FINSWAP fix these problems?
We have targetted the above problems.
High exchange fees is a major concern for crypto traders.
Thats why we have introduced a platform consuming low fees (nearly 50% less than others) and providing incentives to our token holders.
We are targetting high liquidity exchanges for now to integrate our tools but at the same time we are looking for cross dex collaboration to solve these issues like slippage orders, liquidity etc. Like i said we will be planning podcasts inviting various Dex’s to test our platform
How does FNSP token work in the in your ecosystem, what function does it perform, and why should investors choose your coin for investment in the long run?
Finswap is integral part of platform, and both work in synergy. Our token derives utility from finswap platform, where it is used to pay discount fees for trading and services. Fees collected in any form is collected and used to buy fnsp for buy back and eventual burn. In long term this will allow token to derive real value from platform usage, for short term utility we plan to incentivise using staking of our token and uni v2 (fnsp-eth) token.
As a community based project.
How can I donate my quota for your success?
Does #FINSWAP have a Global Ambassador Program or a Referral Rewards System?
Thank you
Our taken sale is managed by LID. They have their indegenous referral system. Kindly visit https://finswap.lid.sh
Many investors are only interested in their token price and profit in the short term while only a small part of them are interested in the long term development of the project as well as Finswap technology. So does the Finswap group have a solution to balance this?
Yes the balance is important thus we carefully considered launching on LID platform which will allow us to stabilize the price while providing is with valuable funds to accelerate project growth. We will additionally introduce staking for our investors who believe in our vision to maximize their rewards for long term support.
According to your website ,the most liked feature in FINSWAP is it allows direct trading from the chart and it is missing in most of trading platforms. So can you explain more about this features and how does it works?What are the pros and cons?
Chart Trading is basically an advanced trading technique of placing an order through the charts. We want our platforms to be user friendly as well as should contain all the resources that a trader may require while trading
Security is always the top task of projects. But lately, a lot of cryptocurrencies and blockchain have been appropriated by hackers. What security measures does your project have in place to avoid the possibility of being appropriated by hackers?
As private keys and funds are never in custody of finswap platform, there is inherently no risk to user assets. We thoroughly believe in famous crypto quote, not your keys not your coins.
DeFi and Dapps are 2 pillars primed to rule 2020 in crypto space, what’s your approach to DeFi and Dapps. What roles do you play in innovativeness of DeFi?
Again the key here is onboarding useful integrations and aggregations of defi protocols and combine them with dex trading.
