Recap-№1 KSwap Family AMA
Talkers: Jessie and Jay
Jessie: Core contributor in business development
Jay: Core Community Volunteer since April
Date: August 7th
Edited by Marsman &Jessie in Telegram
Jessie: Hi! I am Jessie and I am a core contributor and volunteer for KSwap team. My part is more about business development and communications.
Since the first days for KSwap team has been extremely busy. So my fellows helped KSwap team a lot and now we will have our first AMA.
This AMA we have 2 parts. In the first part, I will be the host to ask Jay some questions. Jay is a core volunteer who is helping KSwap in publishing articles and doing some group managing things.
Hi! Jay! Tell us when you come to help KSwap and how do you find KSwap?
Jay: Hi Jessie. Thanks for this opportunity. Hello everyone. I came to be a volunteer in around mid April. At that time, I was kinda of an early tester for their platform and was participating in a creative content campaign held by KSwapFinance. So I was able to learn more about this team during this event.
Jessie: Yes. If you read our medium, you can see most articles are by Jay. What do you think of KSwap team?
Jay: Well, At first I thought KSwap as an average project, to be honest. As I interacted with other volunteers, some people knowing the dev, I began to re-consider this project and the team. Overall, I consider the team behind this project as competent. They have blockchain experts, devs, and a crew of marketing teams. One thing I remembered in particular is their persistence. As you are all aware, we have taken so long time to get here (i mean from testing to the deployment on the main net). The team has always been building new features, taking feedbacks from the community, etc. Yet, personally I do have a few questions in mind, Jessie.
And I am pretty sure the community has similar questions too. So we know that the team received funds from various sources. Can you elaborate a little bit about those investors? Currently, public info is quite limited.
Jessie: OK. Before I introduce the investors. I will give you more about the KSwap team.
Jay came to KSwap and chose to stay for more than 3 months. And we have 3 volunteers who supported KSwap Team for almost 6 months.
KSwap chose OKExChain at the very end of last year. KSwap chose to stay and also KSwap chose to first launch in this ecosystem. Because for this ecosystem, KSwap is familiar with developers in this ecosystem. So at the first two days, KSwap didn’t chose to sell and buy to gain profits. But look through projects very carefully and find if they have bugs for users. like list some projects and then find bugs then unlist. So safety of users’ asset is the first key and basic theory.
A little more about KSwap team. They have 5 functions: business and communication; tech and research; marketing ; operations ; risk control. All they have experiences in crypto area and meet each other through previous cooperation. This team builds on trust and take very care about the users’ asset. Make things right. For users in testing period, they all know KSwap is the first one to develop the INFO page. So KSwap will continue to do that!
OK back to investor: First round we have already published in our medium article. I will give you the second round investors.
Mr. Block, CHAIN capital、Spark Digital capital、AlphaCoin Fund 、ZB capital、GATE labs、HOO labs or capital，Nirvana capital from US、 onemax capital and so on… KSwap have KOLs investors as well.
Jay: Wow, this is a huge list of investors. Never learn about this. Well, to be honest, I do had doubts. I even questioned with you guys. Why would you go to another chain as others was doing. But now I can see why you choose to stay: the team has the ambition to be a great DEX on OKExChain.
why the team doesn’t act quickly, i.e., deploying new features more rapidly? It seems no exciting news from you side for the past days.What are your plans?
Jessie: yes someone from matic, moonbeam, polygon, BSC and others contacted with us.
Why not quick? Safety is the first. Do you know how long the audit report will come out? you will understand. Everything before a product for users KSwap will put their code to audit.
1. We listened from you guys and also directly from community.
2. Now we will have plans as below:
2.1 We surely doing things. The value of all things will finally go to the price.
We want to go further and longer. So we will make plans around KST, like 80% for buyback you already know.
2.2 Add new features from development: New kind of mining pool
This will provide better service for listed projects. So they will bring LP and also they will bring transactions.You can mining both KST and the token from listed projects. (here we say listed projects are required to reach some standards)
2.3 Add new farms for projects not only LP mining. This will add transaction fee which means.. NFT … KST … you know. Let’s promote together.
2.4 adjust the KST mining weight. This part I am not expert so I will not give you more details. This will make less output of KST. Just wait for the future announcement very soon.
Jay: Thx for your heads-up. Now I have a better understanding of your near-future roadmap. So let’s talk about NFT and IDO. Okay, the design is particularly unique in my opinion. NFT has monetary value, so users will be willing to hold and stake their NFTs. NFT has an interactive association with KST, right, because people have to use KST to buy NFT. This will help to boost KST as well. Well, we still need to see how things will go after the NFT is open to stake. I think it is some time next Friday.
Here is my question:
So the designed NFT is essentially a financial product (people use it to earn rewards, right). But I think there is no way to buy it directly from the team. So how do you balance the demand of this financial product and the distribution of mysterious boxes among community contributors?
Jessie: Come to this kind of questions. Anyone who wants to contribute KSwap and suggestions just let our fellows know. We will consider all the suggestions and will give NFTs in a good way. not just airdrops.
Jay：Thx! Frankly speaking, the marketing of Kswap is lagged compared with other projects. We do have high hope on NFT, as we have tested its functionalities. But here is another thing. How is your progress on IDO?
Jessie: I will ask you a question: if you lose your money in a CEX, will you blame CEX as well?
Jay: I wanted to, haha. But we know we can’t. So, what is the plan for IDO (a lot of people asked me about this in fact)?
Jessie: We want to wait for more better projects showing in OEC ecosystem. This OEC ecosystem is very young now. NOW is not a right time from KSwap’s view. That’s very simple why. For more details, Learning about a project, checking with the truth and risk control is not a quick thing.
We want to bring something who is useful not just pull the price for day one or maybe week one but then .. runaway..
So everything about IDO from tech side is ready and you guys already tested but we will watch the market closely and open for every projects. But for new, KSwap thinks only excellent projects for our users at unstable period.
Jay: I see. Security and users’ fund safety are the top priority. Thnx for taking the time to answer my questions. No more questions from my side, Jessie!
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