CryptoThrust X YouSwap AMA
Guest: Jake (COO YouSwap)
I am Jake, I’m managing operations as well as community engagement for the team. YouSwap’s core team consists of an international group of blockchain geeks who met while working on different projects and saw the potential decentralized exchanges can bring to the blockchain-focused future.
Segment 1- Project Introduction
Q1) YouSwap provide cross-chain aggregation trading. what do you mean by that?
YouSwap is a decentralized, cross-chain liquidity DEX that will enable traders to swap between Ethereum/HECO and BSC based tokens, with more blockchains to come. It unlocks and aggregates frictionless liquidity from multiple chains, delivering the best prices via one platform and using smart contracts to execute transactions. YouSwap’s 100% trustless and non-custodial nature means that only users have access to their crypto assets, and the platform will be as easy to use as connecting a MetaMask wallet.
Utilizing smart contracts, relayers, and network bridges, the YouSwap protocol navigates multiple liquidity sources per token pair. Every liquidity source has its own algorithm and YouSwap will fill the order using the best offers received from liquidity sources available across the top DEXes on different blockchains, allowing traders to capture value cross-chain.
Q2) How your platform is different from other existing platforms like Uniswap which is well established.
YouSwap was conceptualized with the trading user in mind — we use the function of aggregate transactions to find the optimal exchange path, while applying smart contracts in the liquidity pool to potentially enhance the ROI. Anyone can log on, connect their wallets through our secure website and start trading. Within 2021, we will be adding several functions such as financial products, derivatives, NFT trading, however our main focus is always to increase our interoperability.
Network fees is a big problem in Uniswap as it is only on the ERC20 network while YouSwap is on ERC,HECO AND BSC before May. We also already have a team that is researching on Polkadot, solona and cardano network. We are building on the popular chain first because it allows ERC/HECO & BSC liquidity itself to flow into YouSwap thereby further developing the ecosystem. Also it will allows projects solely based on ETH to actually migrate to YouSwap, get more accustomed to the ecosystem and provide further development.
Q3) What security Measures YouSwap have taken to keep the investors and users funds secure?
User asset security is the highest priority in YouSwap platform design protocol. YouSwap exchange enables the on-chain data availability (OCDA) function of governance protocol 1.0, it will provide YouSwap users with the same security level as the underlying multi-chain block chain, meaning that YouSwap exchanges can remain anonymous. The updated iterative version of the YouSwap is completely decentralized and does not host user assets. All assets are kept in the chain, and users have full control over personal assets. We have been audited by KnownSec and we are in the process of being audited by Certik. We will let the Certik team’s report explain our platform’s security.
Q4) Tell us about the YOU Token. What are the advantages of holding YOU token?
YouSwap $YOU is our currency. By pledging YOU, IFO/IDO project owners can realize the multi-chain sharing of digital assets by constructing a multi-chain ecological deployment system on YouSwap. We also have a long list of usage for YouSwap tokens which will keep the token desirable after the liquidity mining period. Features like YouNFTs, YouPay, YouTreasury, Youstarter and YouDerivatives will be subsequently be developed and users would require YOU tokens to enjoy the benefits of the features.
Q5) How is mining works in YouSwap. How one can participate?
YouSwap liquidity mining program includes a public pool and an intelligent pool. Public pool allows anyone to provide liquidity to the pool, such as DEFI projects, PolkaDot ecological projects. Intelligent pool is controlled by the smart contract, allowing the controller to respond to the real-time data on the block chain, the token, proportion, exchange rate of the liquidity pool which can be customised. We also have a referral mining program in which inviter can get the proportion of liquidity mining power contributed by their friends, you can learn more details in our website https://www.youswap.com/ or in our updated whitepaper which will be launching soon.
Q6) What can we expect from YouSwap in near future, any new event coming up?
YouSwap is a decentralized project led by the community, and the YOU Token is held by the community as part of governance. As different blockchain networks are isolated from each other as a value system, we look to build on this trend such that YouSwap technology can span into multi-chain interactions between the different public chains, allowing for assets on public chain to merge and circulate on demand. YOU Token will be used to implement this.
Our roadmap is currently not online yet, we are adding the finishing touches before publishing it to the public. All the targets are in accordance with the current road map and we have not missed a single dateline yet. We hope that we can still achieve all the future targets in time as well but there is always a chance for unforeseen circumstances. YouSwap’s next step would be to launch on Binance smart chain and we will be implementing it before May. We will be launching YouTreasury Finance and NFT functions in the near future. Stay tuned to our social channels to keep updated to our latest news!
A short overview:
- Apr: Launch on BSC
- May: YOU will be listed on more exchanges
- increase more liquidity pairs
- Jun: Intelligent Mining Management System
- Jul: YouTreasury Financial Products
- Aug: Launch ZK Rollup Layer2 function
- Oct: Launch NFT Trading Platform
- Dec: YouDerivatives Trading Platform
- Early 2022: Exploratory launch of Polkadot chain
To celebrate and spread awareness on our upcoming launch on Binance Smart Chain, we are running 4 campaigns:
🔥1. AMA with many communities
🔥2. 50YOU Quiz Airdrop, 5x a day, for this whole week on our Telegram @youswapglobalofficial
🔥3. 3x Airdrop Giveaway (https://t.me/youswapglobalofficial/22969) — connect your wallet and get 1 chance to win 500YOU.
🔥4. 1YOU Airdrop for first 500 participants for the Giveaway in 3.
Details will be released this afternoon, so join our telegram (https://t.me/youswapglobalofficial)
Segment 2- Questions from Twitter
Q1) Collaborations and partnerships are some of the most important cornerstones to help improve adoption. Can you tell us about YouSwap current partners, plans for partnerships and what everybody stands to gain from these partnerships?
YouSwap officially launched in Mid-March 2021, current market outlook and partner responses are encouraging. We plan to list more tokens and initiate more staking pools for the platform. The question of “what everybody stands to gain from these partnerships” has been a main topic in our AMAs. We believe in building a truly decentralised exchange platform for the world, emphasising on security, transaction speed, and scalability for future contracts, such as derivatives. One thing that stands out for us is a truly decentralised platform, based on the YOU Token — project owners will only need to pledge the YOU token, and will be able to list their IFO immediately across all the major public chains we support and will be supporting in future, bypassing the centralised exchange system. We believe this will allow project owners more control, and their communities will be able to benefit from the market responses. As we are still in discussion with our project partners (some of whom are waiting for our BSC launch), we are unable to disclose plans for partners at this stage. You can take a look at our platform www.youswap.com to check out our trading pairs and liquidity pools.
One leaked that we can give is, we are backed by China’s top 5 exchange called WBF (https://coinmarketcap.com/exchanges/wbf-exchange/), which average about 2–4billion trading volume daily! So you can imagine, we are not doing this for quick cash or will we ever face problem like lack of funds and strategic partners :)
Q2) YouSwap ambitions are huge. YouSwap want to participate in many fields of the future. Is there any technology or solid basis for you to fulfill YouSwap mission in so many fields?
We see a gap in current market demand versus current supply of services. The technology for the fields are not new, they are existing technology, thus innovation is key to apply them to our vision and platform. For example, for cross-chain trading, to give our users the ultimate trading experience, YouSwap uses Layer2 protocol to solve the congestion of ETH, and enable the functions of aggregate transactions across the public chains of ERC, HECO, BSC — BSC will be launched within April 2021, so look forward to it.
Q3) Liquidity, Transaction fees & slippage are always important factors in Finance services. How does $Youswap solve the above problem to attract users?
YouSwap has an ultra-low transaction slippage as we developed the function of aggregate transaction to identify the optimal exchange path, simultaneously, we apply smart contracts to the liquidity pool (which also allows for customization and auto-execution), which potentially enhances the ROI. We are also moving to BSC and HECO to provide low gas fees for our users. We believe that this will allow YouSwap to attract and retain users, together with our suite of services, ensure the YOU token is always in demand.
Q4) I have read on your site something unique about inviting friends to participate in mining with additional benefits for new participants. Can you talk more about this topic?
We believe that blockchain technology has always had a social component, and to participate in mining together with your friends or a group is fundamentally invoking the essence of blockchain. By inviting your friends to stake tokens, collectively, you will be able to get more mining rewards. Our platform will reward you with a mining bonus co-efficiency of 2 levels only, 15% and 10% effectively. The invitee will receive a 5% co-efficiency. This bonus is matched from our platform directly as a reward to increase the number of YOU token holders. We do understand that there may be some misconceptions of MLM kind of business, hence we cap the level at maximum of 2 levels only, and the reward is the % in mining co-effiency, not referral bonus or payout.
Q5) What is the role of the community in your project? What is the total supply of YouSwap? Where can we buy it? What are your next plans for grow the project ?
The total supply of YouSwap’s YOU Token is 200 million, of which 120 million will be distributed to community such as our infrastructure providers, liquidity providers, users who participate in transactions and platform developers, which will be dispersed through mining incentives and community ecological incentives related to future product and services. You can buy it on our platform, and our roadmap for this year in essence would be:
A short overview:
- Apr: Launch on BSC
- May: YOU will be listed on more exchanges
- increase more liquidity pairs
- Jun: Intelligent Mining Management System
- Jul: YouTreasury Financial Products
- Aug: Launch ZK Rollup Layer2 function
- Oct: Launch NFT Trading Platform
- Dec: YouDerivatives Trading Platform
- 2022: Exploratory Launch of PolkaDot chain”
Segment 3- Live Telegram Session
Q1) How do you plan to spread awareness about your project in different countries/regions. where English is not spoken well like in Asia which has a large population and has the potential to be your users?
That is a really good question. We only started on mid March 2021. Our biggest market is currently in China and Singapore right now. We do have both English and Chinese language in our website. Right now, we are slowly spreading awareness in Indonesia, Vietnam, Philippines, Korea, Japan and India. We will start with AMA in multiple communities so do remember to join our telegram group (https://t.me/youswapglobalofficial) to attend all of them. After that, we will start localisation of our platform and set up operational offices in all those countries.
Q2) Can you explain how to distribute your Tokenomics? How many tokens will be minted? And how many tokens will be locked by the group?
Great question. Right now, we have 200million total supply.
60% will be to the mining pool
5% to team,
5% to marketing,
5% to operation,
5% to Early Investor,
5% to Initial liquidity
15% to Community Ecological incentive
We have a new updated whitepaper that is coming out soon with a cliff of 6 month minimum for the team and early investors. Stay tuned for it!
We have more than 20 staking and liquidity pool up now with a TVL of 7.14 million and adding more as we speak. We have burn a total of $37500 USD worth of YOU token now and will keep burning every time our fee hit $500 and burning a total of 100million token in 5 years which is 50% of the token supply.
Q3) How do you keep yourself motivated for more developments and non-stop work in this Covid-19 pandemic ?
Community support is one of the biggest aspects of a project’s success. Most projects have programs that interact with their users. Does you have any special plans to attract and expand the community and improve the user experience?
We believe it is important to take things 1 step at a time especially in these trying times, thus we keep the team motivated by having small goals where we focus on small goals for each day that we can cross off our list every day. We agree that community support is one of the biggest aspects to a project’s success thus we have many activities lined up to engage and incentivize the community. We are actually currently running an airdrop campaign to spread awareness on our upcoming launch on BInance smart chain. So click here (https://t.me/youswapglobalofficial/22969) to find out more and earn YOU!
One more thing to add on, we are back by China’s top 5 exchange WBF, can be found on coinmarketcap with a daily volume of 2–4billion. Funding and community incentive is definitely not a problem for us :)
Q4) Do you have any plans integrating your project with NFT? Will there be the possible options to do staking and farming in future?
We do. We believe that the current hype and interest in NFTs is just the tip of the iceberg. NFT usage will pick up as traceability and verification will be the key component of trade in the near future. On this, we believe that NFTs will be the next bridge between blockchain and real-world applications. NFT token functions will be live coming Jun-Jul 2021 and not only that!
We have lined up for you, Youtreasury ( Jul2021), Youderivatives (Dec2021) and the launch of Polkadot chain among our 2022 milestones. So dont missed out on our exciting development!
We already offer Staking and Farming in our YouSwap : https://www.youswap.com platform. BSC will be launched soon, so there will be more options available in time to come!
Q5) Do you have any Coin Burn / BuyBack systems or any $Token Burn plans to increase the value of Token & attract Investors to invest?
The supply of YouSwap has been carefully planned out and calculated to be sufficient for all the usage of YouSwap. YouSwap adapts a trading fee burning system in which we will use ALL the trading fee that was earned from the platform and burn the tokens. All the process is transparent and can be find out in our webpage. The burning system will cease after 5 years of burning which will result in having half of the total supply burned. We have a long list of usage for YouSwap tokens which will keep the token desirable after the liquidity mining period. Features like YouNFTs, YouPay, YouTreasury, Youstarter and YouDerivatives will be subsequently be developed and users would require YOU tokens to enjoy the benefits of the features.
More Information about YouSwap:
Website: https://www.youswap.com
Twitter: https://twitter.com/YouSwap_Global
Facebook: https://www.facebook.com/YouSwap.Global
Telegram : https://t.me/youswapglobalofficial
Medium : https://youswap-global.medium.com/
Reddit : https://www.reddit.com/user/YouSwap_Global/
Whitepaper : https://ido.youswap.info/white-papper-en.pdf
