🌌 SpaceSwap visits Hashbon 🌌
On Thursday June 2nd, Christine, the SpaceSwap project’s CBDO, took part in a text AMA session held in a Telegram chat group. Thanks for the warm welcome!
Now, let’s take a look at the question covered during the AMA session:
Q: Our first question - Could you tell us a bit about the SpaceSwap project and what inspired its name?
Our project is already almost 2 years old - born in September 2020. The project was created to achieve an ambitious goal - to be a DeFi aggregator - and we’re on three blockchains now. We started with Ethereum, later adding Binance Smart Chain and the latest chain is Avalanche. Speaking about the products we develop, the main thing here is what we ourselves would like to use. Its classic features are farming, NFT, a launchpad...
SpaceSwap was born from one spontaneous idea formed by like-minded people who were previously involved in various CeFi projects. The team just fell in love with the concept of DeFi and everything connected to it. Add to this some geekiness inherent to many guys in the IT field, the motto “to infinity... and beyond”, one of the long term goals for creating our own DEX and we get SpaceSwap.
Q: Many projects have come across difficulties working in the DeFi industry. This can act as a catalyst for the creation of a product or service. What difficulties did SpaceSwap face that inspired the birth of a service?
Since we have several products, I will tell you about some of them. Of course, any project should be a solution to some problem. When we first launched, the most popular DeFi concept was farming. However, speculation, rugpulls and other charms so to speak, discredited the very idea of it. We wanted to kill a few birds with one stone.
So firstly, we wanted to kick off on a ‘fair launch’ basis. We didn't have a pre-sale, users received project coins by participating in farming. And secondly, to polish the farming concept itself, which is why we came up with a completely new technology called Shadow staking.
This is how it happened with everything. Our launchpad, for example, is the search for a solution to the question, “how can we make the process as transparent and as fast as possible while providing equal opportunities to both large and small investors?” Plus, we were resolved on completing an important task to collate together projects that would be of interest to our community. Some tasks obviously required expansion, so SpaceSwap became the starting point for NFT Stars and SIDUS in terms of blockchain mechanics.
Q: As you mentioned already and we all know, SpaceSwap created what is called shadow farming. Christine, could you tell us what it is and what makes it special?
I just mentioned Shadow in the previous question. This is our favorite development and in February, we celebrated its anniversary. By the way I was among the first testers, so kind of feeling related more than a usual manager). Actually, Shadow is our answer to users’ security problems and to developers’ high costs when performing complex calculations on the blockchain.
It is a Layer 2 solution that allows you to:
1) farm without actually sending tokens to the contract address, allowing you to keep your LPs and other tokens stored safely inside your wallet and the system periodically checks your balance and calculates the required number of rewards.
More details can be found here: https://www.youtube.com/watch?v=Lm9aRWY29do
2) during the process of development, we realized that the technology actually has no limits since it is a back-end add-on that’s synchronized with the blockchain. It actually issues coupons for the implementation of this or that action, which is then performed on the open blockchain. All complex calculations are carried out at the back-end, so the technology allows you to build voluminous applications in terms of functionality. This is still fast, accurate and does not require developers to pay gas fees.
Q: There is a large number of investors that focus on the token’s short-term price instead of the long-term value of a project. What incentives does SpaceSwap offer investors to stick around and HODL?
First of all, our tokenomics includes 2 tokens: MILK2 - native farming token and SHAKE - a limited supply of 5 thousand on three blockchains. Users can create their own SHAKE tokens by burning MILK2 tokens.
Holding SHAKE entitles you to a regular MILK2 airdrop. This is a looped system.
But the most interesting use case now, of course, is the launchpad, enabling holders to access sales - access to sales is available for MILK2 holders and for SHAKE holders.
Also, a mini-game universe is under active development. We’d like to invite your community to fight with ours 😉 Access to all the games is through the native tokens.
In addition, we will very soon be launching regular burning lotteries with the active support of Chainlink. Other events include LP airdrops for holders, early NFT sales and our regular NFT Mania quests with solid prizes.
Q: Christine, you told us that SpaceSwap has its own Launchpad. Could you tell us some of its killer features that set it apart from the competition?
Yes, our SpaceSwap Starter launchpad was officially launched in December 2021. The first event was the SIDUS and SENATE tokens’ IDO for our native SIDUS project.
We wanted to develop a system in which both large and small holders of our native coins have equal opportunities. We think we have achieved this. Additionally, the site has both a sale contract and its own vesting portal.
I will say more – currently we’re actively working on the development of a farming marketplace based on the principles of Shadow farming. The concept is simple: after the sale, users will be able to stake their project tokens (for those who wish to create their own pools) with us. In a nutshell, it’s a one-stop-station, everything we like. Buy, claim, stake.
And another important point is that we never stop. We are currently implementing a hybrid system of tiers that takes our current system into account. We also hold INO events.
Also wanted to say THANKS to our dev team and the launchpad manager - this guys rock!
At the moment, the market is a bit quiet in terms of IDOs, but we think this is the best time to improve, polish and build connections.
Q: Most of the questions people had during the AMA strengths of the project. So at this time, can we talk about your difficulties and challenges? What difficulties did you face developing this project and how did you overcome them?
Absolutely fairly noted that it is most often habitual to talk about results and unfairly omit those difficulties and challenges that actually become the impetus for development.
I think that in this regard we are not an exception to the rule and we are faced with the main problems of DeFi and crypto in general. I will list a couple, perhaps they will resonate.
1. Speed. In DeFi it is customary to work quickly, to forge while the iron is hot - what is a trend today, tomorrow may already be forgotten. In this mode, we are constantly faced with time pressure and a certain burnout of the team from developers to community managers.
For ourselves, we are still trying to find the perfect balance - to respond to the challenges of the market, constantly adapt and improve products, but not chase the outbreak. It is better to move gradually, but relentlessly. But anyway, this business requires a certain amount of flexibility - it's not for everyone, definitely. And here you feel alive like nowhere else. I've heard this from colleagues many times. By the way, especially from developers.
2. Strong exposure to market fluctuations, public sentiment and other objective force majeure. Turbulence in the market cannot bypass us, on the contrary, if a crypto asset moves contrary to the market, this is a signal to think about how honest the project is, how organic its audience is, etc. The answer here, and everywhere is the same - Do what you can, with what you've got, where you are.
Q: Sad to say , some STARTER platform have very limited support to their startup project leading to failure. May I ask , What are the support-system given by SPACESWAP STARTER? Do you have Post-IDO support and community-growth?
Very nice question because it asks a fundamental problem - what is a launchpad? What is its purpose? If we are only talking about fundraising, such an enterprise will quickly end its existence.
However, do not confuse the launchpad with a permanent employee who will lead the project by hand, it sounds a bit utopian, to be honest, and is simply not interesting. We often hear that this huge launchpad made a sale and forgot about project X. But to be honest, the very fact of launching on a large platform is already a fairly serious contribution to the promotion of the project.
As a quite young platform, we have the opportunity to approach the process more individually. We organize pre-training in the form of materials and AMA, after that we also stay in touch with launched projects, however, such interaction is in the nature of partnerships with equal projects, and not coaching by a senior.
Q: Yes , SPACESWAP is a unique and feature-rich project , But , we need to see more ADOPTION. so, What are the strategies to increase your USER-ENGAGEMENTS? How will you drive your ''mass adoption''?
Yes, adoption and onboarding is a fairly specific problem in fintech. In a nutshell - in addition to directly financial instruments, we are trying to develop interaction with the community - we regularly hold mini-quizzes on topics close to the blockchain, we have a regular major event - NFT mania quest, our holders can take part, and not only them.
We are also working on additional use cases - we are developing a whole gaming mini-universe, organically integrated into our project.
An important role here is played by interaction with other projects from our field - therefore we are very grateful for today's invitation and we are waiting for representatives of the Hashbon project to visit us. Good networking is an important part of mass adoption.
Full script: https://t.me/hashbon_chat/48761
🔥 Hashbon visits SpaceSwap 🔥
On Friday, June 3, we were glad to welcome Daniil, Hashbon’s BD Facilitator in our chat group.
We spent an hour having a frank conversation with a veteran of the blockchain industry, sharing stories about the past and plans for the future. We are extremely grateful to Daniil and the Hashbon team and look forward to continuing our partnership in pursuit of fruitful outcomes.
During the AMA session we’ve highlighted the following questions:
Q: Can you introduce your project for our community briefly?
Sure. The name of our project is Hashbon FiRe (Finance Reinvested). The company was founded in 2016. We had one goal then and one goal now, it is to simplify the financial world.
We first set off to develop our payment gateway and crypto wallet . We were incredibly happy to see that we were met with considerable community support, as Hashbon.com got ranked
We then branched out to DeFi with our own CDEX and staking/farming platform, Hashbon Rocket. While working in the DeFi sphere, we noticed that a ton could be improved upon, which is why we decided that KYC & AML compliance should be dealt with properly.
Now as we know (most of us anyways) there have been countless reports of data leaks and privacy breaches in the past few years. It kind of breaks my heart. The more connected we are, the more at risk our data is, meaning that this issue will only get worse as the IT field progresses. Coupled with inconveniences caused by old-fashion verification methods like CAPTCHAs & age verifications, we knew that someone had to do something about it.
This inspired our latest offering, http://pass.hashbon.com The world’s first anonymous KYC protocol. This allows Hashbon FiRe to make waves in the financial industry, facilitating a mutually beneficial relationship between all parties involved.
Q: Regarding CDEX, Hashbon is known for its cross-chain DEX technology, can you explain how it works and what are the features, if any, that distinguish your project from competitors?
Hasbon Rocket is a Cross-chain Decentralized Exchange between the Ethereum blockchain & BNB chain.
This means that unlike traditional swaps, Hashbon Rocket gives you the ability to exchange any ERC-20 coin for any BEP-20 coin and vice versa with ease.
We know that other solutions exist, of course, they offer cross chain exchanges also...BUT they provide wrapped tokens, meaning that you're exchanging equivalent tokens representing your tokens of choice. So after you’ve exchanged your “virtual tokens” for other “virtual tokens”, you’ll have to cash them out.
Our solution qualifies for the title of a "true-cross chain decentralized exchange”. Also we’ve developed native staking & farming for Hashbon Rocket, expanding even more on the platform’s utility.
Q: Let's get back to your products and the concept of private data safety. You have launched a new product recently - Hashbon pass, tell us more about it?
We’re very excited about our newest release! Hashbon Pass is the decentralized protocol for reusable identity verification on blockchains such as Ethereum, BNB Chain, Polygon and other EVM-compatible networks.
So Hashbon Pass challenges user identification norms by favoring the client’s data-security over the industry’s desire to acquire as much data as possible. It does so by facilitating KYC without the transfer of any user personal information.
I mean, it really is astonishing how far we’ve come when it comes to many aspects within the IT industry, while KYC stayed as unreasonably difficult as it always was. With the help of our protocol, passing KYC and verification procedures turn from a tedious and exhausting process to a single click. Seriously :)
Q: As a platform that generates profits through fees. Does Hashbon implement a Revenue-Sharing program to all its loyal users? What are the rewards-structures?
Our CDEX Hashbon Rocket focuses heavily on maximizing the methods through which users can generate passive income. With native staking and farming support built-in, you can enjoy one of the most favorable APYs available by staking HASH Token through our CDEX. We have a staking APY of up to 171.46% and a farming APY of up to 248.29%. On top of that, last year we introduced the Hashbon Staking Referral Program through which users can acquire an additional 10% in revenue on every referral’s staking profits. It’s worth noting that this amount isn’t deducted from the user’s staking profits, but matched by Hashbon Rocket. We have set aside 25,000,000 HASH Tokens for our community of stakers and farmers, so join our community of HASHtronauts, if you’d like to generate passive income today (for more gold :))
Q: As we all know this past few months crypto is very volatile. Do you have a back up plan so that your token won't be greatly affected by this bear market?
But you see, our goal isn't to make as many people purchase HASH tokens, it's to create services and products that will simplify our clients' lives. We’d like to give people a taste of Web3.0 so they can see where the future of the industry lies. Focusing on the product itself gives us the opportunity to facilitate a smoother and better interaction with the constantly-evolving industry, while at the same time, providing users with incentives to buy HASH tokens.
Token sale numbers should always be a byproduct of a successful project providing real value rather than the main focus of a company. Unfortunately, it's not always the case nowadays.
Q: How will SpaceSwap and Hashbon benefit from each other?
The team behind the project SpaceSwap has demonstrated their expertise in the field. Also they’re incredibly NICE people (and it's not just words, since we all know that everything can be checked in DeFi since all the smart contracts are transparent :))
So...through this collaboration, we have gained friends! We’re extremely happy to see that a partnership has been initiated and we’re more than sure that our future holds mutually beneficial opportunities for the both of us.
With these AMA sessions we've found an opportunity to reward our communities by creating fun events with prizes for ya'all. Also it provides the both of us with a platform to discuss the industry, address the community directly and spread the word :)
Full script: https://t.me/SpaceSwap/152134