BSCNews hosts: Wault Finance, ApeSwap, HyperJump, Jetfuelfinance, OpenOceanGlobal, Launchzone,and BakerySwap in this first ever #AMAchella
Andrew:
Hello all and welcome to the very first AMAchella by BSC News!
Very excited to have such amazing projects here with us today
To kick things off let me introduce who we have here with us today
First we have Obie Dobo the Co-Founder of ApeSwap
Obie (ApeSwap):
Hey everyone ❤️
Andrew:
Mean the Lead Community Manager at Bakery Swap
Glitch the Project Manager from HyperJump
Miro the Founder & CEO of JetSwap
C.L. the Head Business Developer for LaunchZone
Mathias the Community Tech Lead from Opean Ocean
OpenOceanTech:
Pleasure to be here
Andrew:
And Marcelo the CMO from Wault Finance!
Marcelo/Wault Finance:
Awesome to have the opportunity today!
Thanks guys
Andrew:
Thank you all for taking time to join us here today I know that you are all very busy
Flight Commander Miro (Jet Swap):
Thanks for hosting this amazing AMA! It’s great to be here with all these excellent projects.
Mean (Bakery Swap):
It’s a pleasure. 👍
Andrew:
So how this will work is, I have a set of questions that are prepared for you guys. Some general questions that everyone will answer. Then I have some project-specific ones, and after that the team over here at BSC News has handpicked some questions that we got from Twitter that you all have never seen before
Sound good?
Lord Glitch | HyperJump 🚀:
Perfect, bring it on 😄
Obie (ApeSwap):
LETS DO IT!
OpenOceanTech:
Yea, let’s go!
Marcelo/Wault Finance:
LETS GET IT!
Mean (Bakery Swap):
Bring it on.🔥
Andrew:
Hahaha awesome! Love the energy
So to start things off
1. First and foremost, tell me about your backgrounds prior to your project and what led you to creating it.
Obie (ApeSwap):
Thanks, Andrew! Background stories are always so interesting but I’ll aim to keep most of my answers short and sweet 🙂
Personally IRL I come from a background in tech consulting and crypto start up building ❤️ So does most of the ApeSwap team.
ApeSwap funnily enough was launched on a whim and grew more successful than we could have originally expected. Since then we’ve been working hard to help grow the defi space!
C.L (rebranded) LaunchZone:
Hi this is C.L. We have been involved in cryptocurrencies since 2016 as Bitcoin miners and investors. At the end of 2017, we realized that the payment service using stable-coins and crypto would be huge.
Since then, we have dedicated ourselves to build a decentralized platform that can make crypto payment and later staking, liquidity mining accessible for everyone.
There’s many defi projects with good ideas and dev teams but lack direction for long-term development. Therefore we started LaunchZone to incubate such startups, helping the the DeFi ecosystem in
Mean (Bakery Swap):
The team behind BakerySwap is a very experienced team of developers that have been developing blockchain projects since the early days. Having worked together for so many years makes a solid team and fewer security risks, that face projects with new developers
Lord Glitch | HyperJump 🚀:
As most of BSC OGs know, hyperjump was a rebrand of thugs.fi. I was a community member who was chosen to be part of DAO at that time. A lot of people who believed in the project and wanted it to be successful came along, did their part and tried to make things right, but then as you know DAO can’t be Decentralised if the whole power is in the hands of the owner. So one of the owners left in an aggressive manner, dumped on the community and tried to hurt the whole ecosystem. Kdot knows who we are talking about. Anyways, our team regrouped and gathered the courage to re-establish the project again under a different name.
Some weeks ago more team members had to leave as they already did much, built a base for our project to run on, so that is where i was given this role.
Now we can say that there is no owner or founder in our team left, this project is now fully governed by the community and a community made DAO.
Andrew:
Next up we got CL from Launch Zone
C.L (rebranded) LaunchZone:
I started with crypto in 2017 as a trader who burned all his money before meeting and joining in LaunchZone team in later year. I am now working as the head BD of LaunchZOne ecosystem.
I’ve introduced our team earlier so I guess this is all for me
Andrew:
Okay great next we have, Mathias from Open Ocean
OpenOceanTech:
Hi, I’m Mathias – Community Tech Lead for OpenOcean. It’s a pleasure to be here! The bsc.news community is awesome.
I’m especially excited to join here tonight because we just launched our OOE token 2 hours ago!! OOE is the governance and utility token of OpenOcean that enables utility for users of the protocol and lets the community participate in governance. Check out our announcement:
I first came across blockchain/crypto in 2014 and haven’t been doing anything else since – I love it! At first, I was very interested in applying blockchain to various use cases across industries such as shipping and pharmaceuticals. Later on, public chains, tokenomics, and DeFi fascinated me, which I’m also currently working with! Previously, I’ve been working with top-tier public blockchain projects taking on technical and commercial responsibilities.
Today’s crypto markets are fragmented, have asymmetric information and make trading inefficient when trading across various exchanges and public chains. The many automated market-making exchanges are siloed from each other and have little interoperability. This forces traders to search for deep liquidity and deploy funds across different protocols and blockchains or carry the consequence of slippage and partial fills.
This led us to create OpenOcean.Finance in order to provide symmetric information and best price to users in the fragmented market and offer one-stop entrance for users to increase efficiency in trading.
Andrew:
Thank you Mathias!
Last but not least, we have Marcelo from Wault!
Marcelo/Wault Finance:
Hey Everyone! Im Marcelo, Ive been in the space since 2015 mining bitcoin at first. Over the years i’ve been privileged enough to launch and help several projects, as well as lead Dev management at CERTIK helping projects get Audits and most of all Security. During my time at Certik is when Wault was just being talked about, Now here we are today.!
Andrew:
Wonderful
Thank you all for this introductions, again it is great to have you all here to join us from such extensive background and knowledge within the crypto space!
2. With a project so large in scale, you must have a reliable team behind you working around the clock to ensure that everyone is on the same page about the vision and mission of the project. Could you tell me more about the team and how they fit into the overall goal of your project?
@obiedobo you first
Obie (ApeSwap):
Yes excellent question! Our team is an extensive group of over 20 core members and 50 community moderators that make ApeSwap work ❤️
We’d be totally lost without them!
The TLDR is they cover all the core business functions from tech to marketing to biz dev to product so that we can have full coverage of apeswap and run as the most efficient organization possible 🙂
Andrew:
Great, love the short and sweet 🙂
@Alendo you’re up next
Mean (Bakery Swap):
We are working around the clock, from developers, managers to community managers to ensure we are providing a good experience to our users. We have a clear vision and mission, to become an all-in-one DeFi, and especially with a broad view regarding NFT’s, from marketplaces to financial NFTs or gamification. Every role is important. For example, mine as a community manager is to provide feedback from users to ensure we keep improving.
Andrew:
Great, and yes I can see how big NFTs play a role in your project
@TricksterDude Up next!
Lord Glitch | HyperJump 🚀:
Our project is being built by a DAO (Decentralised Autonomous Organisation) and taken care by community admins, as of right now we have 3 teams:
Dev Team, Intergalactic Patrol, Galaxy Defenders
Dev Team:
1 Lead Dev: Angry Mech
2 Front-End Devs to make everything beautiful and futuristic.
1 Senior Dev to smash bugs and help lead dev
2 Subgraph Devs that make sure servers and analytics run fine
2 Community Devs that work on rolling out new features
1 Unity Game Dev
Intergalactic Patrol
Glitch – Project manager
Defigen – Code Auditor for our partnerships
Hammerloaf – People’s Manager
Hizkia and Ache – Art Designers
HyperMikey – Medium Writer or might call him Space Daddy
Supco – Partnership Manager
Tap – Contest Manager
Galaxy Defenders – Ambassadors, Project caretakers, fud fighters, listing managers
Mostafa, Oucan, HCB, Lion, Ilker, HyperDejie, Orlando and Pei Pei
Overall goal is to have a team full of enthusiastic people who want to build and are personally attached to the project.
Andrew:
Big team I see, quick question but do you have an entire dedicated game development team as well?
Lord Glitch | HyperJump 🚀:
Yes, some of our team members have irl gaming companies and are well introduced to that section. Most of the community members who joined were already attached to gaming on some level. So yes, we have devs that are for gaming, game testers, and just general gaming fans as well
Andrew:
Great, very excited to learn more about your project
Next we have @jetfuelmiro
Flight Commander Miro (JetSwap):
It takes a small army to keep our ecosystem consisting of Jetfuel, Jetswap, Fortress and running smoothly 24/7.
Our team includes:
-My self as CEO
-Engineer is our CTO.
-Chuck Yeager is our CMO
-8 devs dedicated to our ecosystem.
-Multiple Business Development Associates
-20 Telegram moderators to run our English, Spanish, Chinese, Brazil, & French groups
Our ecosystem includes
Jetfuel – Yield optimizer with Auto Compounding Vaults
Fortress – Decentralized Lending and Money Market
JetSwap – Automated Market Maker serving BSC and Polygon
Andrew:
Thank you for that answer
Up next we have @C_L_LaunchZone
C.L (rebranded) LaunchZone:
our core members are business experts and technical specialists of different races and nationalities. Some of our team members worked in Kyber, Elastos and other defi projects.
It is well known and currently acknowledged that we are all living in an unsustainable and unstable centralized – economy. Unsustainable exploitations of natural resources alter our environmental conditions whilst social monetary values are controlled by people and institutions that don’t care about the well-being of others more than themselves. All of this made us come to a common conclusion: it is time
for a change. Therefore, a group of individuals from different continents, nations, races and colors with the similar goal of building a sustainable and stable economic Ecosystem came together under the name LaunchZone. We all hopeour products shall benefit everyone by the help of blockchain technology and decentralized finance. We might be all different but under the same ideal, we all work for the world to be a better place.
Andrew:
Yes and that is what makes the crypto community so unique is we come from all different background
@OpenOceanTech next
OpenOceanTech:
Our technical team are experienced engineers and financial veterans from industry leading financial exchanges and multinational IT companies like IBM, RBS, Intel, and HP.
In the past, we have been engaged in the technological output of core products of leading crypto exchanges. We have also provided services to the development and design of top ten public chains.
We work closely together with the community to make sure the overall goal of the project matches what our users want to make sure it delivers real value. Besides that, we see OOE holders as part of the team because they help shape the future of the protocol by suggesting proposals and voting on protocol parameters, dex aggregations, and future chains for starters.
Andrew:
Wonderful
@Moonboimarrc ?
Marcelo (Wault Finance):
Hey thanks for the introduction! I’d like to actually share a Letter from the Core Team at Wault that has been written to all fans and non fans of Wault finance..
Hello to our Loyal Wault Community. The circumstances of this announcement have been long thought out as we were careful to gather all of the data in the most clear and
direct and visible form, as possible. We, the core team of Wault Finance have recently discovered some information regarding our owner Creppy’s activites
that we find very alarming. We strongly believe that each of us as individuals are free agents and able to draw our own conclusions.
So in this article we submit to you the preponderence of evidence we have found and allow you to come to your own particular viewpoint, in this regard. The first rule in crypto is do your own due diligence.
The evidence suggests that our owner, Creppy, has been actively seeking to deceive the community through various means available to him
as the primary writer of the code of Wault finance and also as the clear owner of several other projects launched within our ecosystem, as per the uncovered data you will find listed below.
It is for this reason, and others yet to be discussed, that we are disassociating ourselves from any further connection direct or indirect with Wault.Finance.
We have chosen to go our separate ways and begin our own project launching on the KUCoin Community Chain. We severely regret not being able to bring this information to you sooner but
as we continued our search more and more information surfaced, so we felt it best to wait until we had exhausted all aspects before bringing it out into full light.
But before we touch upon some of the more datacentric info let us first explain some of the goings on that have also contributed to our disenchantment with the project, in general.
Firstly, all of the so far launched IDOs were completely unvetted by the core team, except Holder Finance.
Our hands were tied even though we attempted to give him sound council asking him what the sudden rush was and if it was wise to move forward with such haste. This scenario played out over and
over again first with Swirl cash and then Euler tools. And we were removed from discussions with Holder Finance even though we had brought the project to him through other legitimate sources we had in crypto land. After Holder launched we were essentially removed from any further discussions with potential partners and were only aware of these inked contracts when the community was made aware. So, it was just as much news to us as it was to the community.
We kept on with the project thinking it was just a brief oversight and would improve over time. Sadly, it never changed even though we continued to ask that details be shared about partnerships
and that the team deserved a full conversation with these other entities prior to officially connecting with them. Despite our continued attempts to illicit a response from Creppy, no explanation was ever given or even considered worth discussing
as it was just left unattended to in our Main Marketing Channel. This has gone on for the last two months since the migration. We understood that the team had grown larger and that decisions were being made outside of the purview of our core team chat
but were never asked to participate in those other discussions or given even a courteous heads up. Even the migration came as news to us and this just shortly after finding out that Creppy had “accidentally” burned the team
tokens in the Old Wault contract having sent them to the zero address. But, he offered a solution stating that it could all be sorted out if we just migrated with the Pancakeswap migration over to the new contract.
The team was in full support of this action excited about the opportunity to enjoy the fruits of our labor with team tokens being distributed. But still no opportunity for input was ever given to us in this matter. as we found out about it after seeing the medium post published, detailing the coming change.
Once the team tokens came unlocked he simply told us that he wasn’t giving them to us and that he would probably just relock them. No discussion about this was entertained. No civil discourse and arriving at consensus with a trusted team was considered.
Rather, just a dictatorially decision made by Creppy, as in all things Wault, by this time. Very dissapointing. And even if he had relocked them (Which he clearly never did) they would have come unlocked again by now as he stated he would lock them for
another two months. This was mid April in which the tokens were technically made available to the team. When WEX was launched he did provide the team with an airdrop of tokens which is visible on the chain. But this portion pailed
in comparison to the amount of tokens we were supposed to be alloted with WaultX and was explcitly described in the Whitepaper as our due.
Another point of contention for team members was the fact that we were effectively cutoff from all key decision making since the migration. Apart from the occasional live AMA or interview handled by Marcelo, a sporadic quick video tutorial by Ken and
the continued work with Regional Teams by Jimmy there was really nothing left of our connection to the ongoing development of the project even though we had grown the Wault community from the ground up. Having effectively developed it into
a top trending project on the BSC through our early marketing efforts and existing connections. It is not overstating things to say that we were much to do with the early success of the project and the overall community engagement which
made our project stand out and really feel connected as a Wault family. Once our project impact had been diminished, however, we felt little motivation or incentive to get back to that point having grown numb to the poor treatment from Creppy and general disrespect of our respective positons
and core contributions. So we started looking to develop our own project and continue our evolution and overall reach in the world of crypto.
So in some sense it was of less concern to us as we had been forced to move on in our minds due to the circumstances. But we knew what was happening was a disservice to the community. So we were conflicted in this. Little did we know how much Creppy was
doing behind the scenes that should have led us away long ago to greener pastures and also given us an opportunity to expose all of his questionable activity, much earlier. We have always had the best interests of the community in mind and are confident that you have felt that from us, genuinely. But we feel that we have let you down, in this respect. And for that we again apologize to all of you. We, as investors ourselves, also feel very deeply the pain of betrayal and
sympathize with every other holder of this once incredible token and ecosystem.
The below lists all of the data we uncovered about Creppy’s involvement with these other projects. We encourage you to come to your own conclusions about all of this information. But as for us, we are clear
on what direction we intend to take.
It is without a doubt a shock to us all and we understand how you may be feeling at this time. As such, we have created a telegram group for anyone affected by this news to vent their frustration openly,
ask questions, get clarification etc.
We know there will be many questions regarding the integrity of the team. And we welcome them. Our ultimate goal is to bring some integrity back into the crypto space. And expect if you follow us you will see that in evidence
over time.
Andrew:
Give me a second as I read this
Marcelo (Wault Finance):
More information is in the descriptive medium post and a telegram for people who are looking for answers.
Andrew:
Okay wow a lot there.
So just to break it down, you are telling us that the owner of Wault Finance has been deceiving the users?
C.L (rebranded) LaunchZone:
10 for the effort for sure
Obie (ApeSwap):
Wow I had not clue
Thanks for sharing a lot to digest for sure
Marcelo:
I believe everyone can come to their own conclusions, I have evidence that has been posted as well as a telegram for people to figure it for themselves
Andrew:
Okay thank you for that, definitely need to go check that out myself.
Marcelo:
Make sure to. This is from the whole core team as a whole.
Thanks for your time.
Andrew:
How long has this been going on and when did you find out? Why is this just coming out?
@Moonboimarrc
Obie (ApeSwap):
AMAchella getting spicy wow
Andrew:
Also, how can users trust your new project now?
Marcelo:
We had reason to believe things were becoming fishy when we migrated over to WaultX….
Also All the projects that have been launched via our platform were never once vetted by the team. The team that was meant for vetting.
And unfortunately there is reason to believe that this is a continuing act.
Without hard evidence i did not want to release anything
But the time is here and im sure everyone can come to their own conclusions.
We, The core team at Wault will be moving on to greener pastures and build on the KCC network
We will be the first project audited on the KCC network
Andrew:
Why were they never vetted by the team? Because as a community we were under the assumption they were
Yeah but how can we trust that ?
Marcelo:
Because Creppy would launch projects without notice.
Andrew:
Didn’t Wault also have numerous audits?
Marcelo:
We would find out the same day as the community
Yes these audits are authentic and real.
Andrew:
How did Creppy have this ability? Where there no mechanisms in place to keep from one person being able to do that?
Marcelo:
Like i said before tho, this is cryto and im a true believer in people doing their own research. I have just given a platform for them to read about the findings.
Andrew:
Okay we will move on from that but if you are interested more in that please take a look at the findings Marcelo has posted
Marcelo:
Him being the sole dev on the team made it impossible for us non coders to keep him from adding functions ect.
Andrew:
Okay to get back on track
3. As projects that are in the forefront of the BSC DeFi ecosystem, what are some major milestones your project has achieved and how do you feel as though this contributed to the overall future of DeFi?
Obie (Ape Swap):
ApeSwap has a little internal saying that we want to help “decentralize the DEXs” as we all know (particularly in BSC) one project controls most of the AMM market share.
While we have a very long way to go, ApeSwap (along with many of the wonderful projects here) have started to make a dent a in that and build a truly decentralized ecosystem
We have a long way to go as a collective, but happy on how things are slowly progressing 🙂
Andrew:
Great thank you for that answer 🙂
@Alendo
Up next sir
Mean (Bakery Swap):
During this Q2 we became a Top 100 coin at coinmarketcap, we are also regularly amongst the Top 10 in social media rankings like Lunar Crush, or the 1 NFT marketplace at BSC with 500k transactions, while our AMM has more than $250M in TVL. We are also proud to have a community of 330k followers or 1,5m users, that contributes to the future of DeFi and Binance Smart Chain.
Andrew:
Wow 500k transactions from NFTs !
Very impressive
@TricksterDude up next
Mean (Bakery Swap):
All thanks to the community.
Lord Glitch | HyperJump 🚀:
Major milestone is safety, most important of all is users safety.
We can see how projects are launching, getting 100M tvls instantly and then getting exploited or end up rugging.
One of the exploits was the Syrup bug, which was patched by us within 3 days.
Even certik had questions regarding this, and our ex Dev asked them to try exploiting us, not sure if they tried but they didn’t have a solid answer to it.
Second is Flash Loan Resilience, as i already said “flash loan is a feature whereas flash loan attacks are the problem”. Hyperswap uses avg time weighted price oracle instead of in time price oracle which makes it harder to manipulate the prices, and reentrancy exploit being fixed.
Alongside that our new Dapp makes me proud. oh boy, it is the fastest dapp in defi. Our new management saw that dapps were not well integrated, and had to be loaded separately which took some precious seconds of users. So we spent hours integrating our dapp perfectly.
Right now it is being upgraded. Multichain dapp is being formed, so when we move to another chain in future, we don’t have to copy code and build another dapp, it will be just an addition to the current one.
Along the line there were many other things we were proud of, our own rpc on the fantom chain, our own 4 archival nodes for bsc etc.
Andrew:
Yes and as we just saw, safety is paramount for users as protection of funds is something that everyone here can agree is critical to a project’s success
Lord Glitch | HyperJump 🚀:
Absolutely
Andrew:
@jetfuelmiro next
Flight Commander Miro (JetSwap):
We are so proud of the hard working and dedicated team to help us complete our goal of a 1 stop shop DEFI ecosystem a few weeks ago with the launch of Jetswap on BSC. Now the Jetfuel ecosystem contains Yield Farming, Autocompounding Vaults, Staking, Lending, Launchpad, and an AMM. With the launch of Polygon Jetswap we soared over $700 million total TVL for our entire ecosystem. Our Social Media team does a great job growing our channels and we’re proud to regularly be listed as having a top social signal.
We’re looking forward to our continued development on BSC and other chains as we grow Jetfuel.
And i sincerely wish the best for the Wault Community ❤️
Andrew:
That’s awesome $700 million that’s massive
@C_L_LaunchZone
C.L (rebranded) LaunchZone:
During our operation, we’ve made quite some achievements and such feats can be simply categorized into: social interaction, Community growth and dapp growth. Those achievements helped us become one of the remarkable star project on BSC while having a good connection with BSC team. To save everyone’s time, I’m sending you a summary of our achievements.
Andrew:
Hahaha I love that
So many accomplishments that you need it archived
@OpenOceanTech
OpenOceanTech:
Here are some of our major achievements:
C.L (rebranded) LaunchZone:
tough time comes tough measures
OpenOceanTech:
– Aggregate major exchanges DEXes across 6 public chains, Ethereum, Ethereum Layer 2 (Loopring), Binance Smart Chain, Solana, Polygon, Ontology, TRON, and CEX on Binance
– First aggregator of both DEXs and CEXs
– First and leading DEX aggregator on BSC
– First and leading DEX aggregator on Solana
– First DEX aggregator on TRON
– Over 210K+ active wallet addresses
– Users from over 200 countries and regions
– 760,000+ transactions, $2bn+trading volume
– 90K+ active community members
– 150K+ followers on twitter
– Developed cross-chain swaps and automated SaaS tools for arbitrage strategies
I think we contribute to DeFi by offering users the opportunity to trade more efficiently. This will lower the barriers for coming into DeFi.
Andrew:
Yes and from what I know, just like the real ocean, you have a massive massive project on your hands
Makes sense to see so many users and different features listed here
So while this is a hot topic right now let’s see the answers you have for your own project
4. There have been recent spikes in scam coins, rug pulls, flash loan attacks and other security threats surrounding the BSC ecosystem. What steps have each of you taken to ensure the safety of your user’s funds?
Obie (ApeSwap):
We’ve done 2 major things:
1. We audit our code relentlessly and have strict security practices in place
You can check out more here: ape-swap.medium.com/the-apeswap-jungle-is-safu-41a5416f6e9b
2. We have a bounty program with up to $100,000 in rewards
You can check out more about that here:
Long story short, our #1 priority is keeping the jungle SAFU
Andrew:
A safu jungle makes all the apes happy am I right
Next up we have @Alendo
Mean (Bakery Swap):
I will like to keep this simple.
BakerySwap is one of the few projects that have not been involved in any of those attacks. We take a very conservative stance regarding risk. Minimizing risks is our Top Priority because trust is everything at DeFi.
Andrew:
Thank you for that answer
@TricksterDude
As I told our team, prioritize safety. Hyper-SAFU
We have a code check (soft audit) before making partnerships, you might not see 10 different earning pools but those tokens we provide are safe.
We have our own audit service called HyperCheck. We will be pushing it further with new things we will be rolling out.
We have educated the community about flash loans, we have taken necessary measures regarding them.our AMM uses average price oracle that avoids vulnerability like Oracle Flash Loans Exploits and We have fixed Reentrancy Flash loan Exploit too. We were encouraged and promoted by the bsc team as well as the bsc news team for that article.
We solved pancakeswap syrup bug, and pancakeswap removed syrup completely. Moreover it took them nearly 1 month in the whole process whereas we solved it in 3days thus dual rewards feature is available for Mech Staking.
Certik was told to exploit it, maybe they couldn’t find a way.
Read more about our Certik audit here:
Read transcript of that audit for better understanding:
We are constantly trying to make it a safe place for users.
we believe not only safety is important but educating users about it is important as well
Andrew:
Wonderful, thank you for that sir
@jetfuelmiro ?
Flight Commander Miro (JetSwap):
We take a security first approach to all of our updates and projects. We have our code audited prior to release, generally by multiple auditors. We also take a slow approach to our partner projects to ensure we’re only partnering with the best and most trusted projects. Every step of the way we have our community’s interests at the forefront of our development. Since our launch in Dec 2020, there have been 0 exploits in the Jetfuel Ecosystem.
Andrew:
0 exploits, that is wonderful to hear
@C_L_LaunchZone up next
C.L (rebranded) LaunchZone:
Our Smart Contracts have been audited at least 4 times by third party projects like: Certik; Halborn; Very-chain and Defiyield. This is evident that we are risk-free technically as a defi project. What’s left unsolved is whether our service model is vulnerable to attacks or not. Regarding this, we’ve got a lot of meetings between the core team members to come up with proper solutions to the market situations and at this point, we are all services and factors are well measured.
Andrew:
Great to hear that you have a plan to address these potential risks
@OpenOceanTech next
OpenOceanTech:
OpenOcean takes a security first approach in order to protect users from security vulnerabilities and other incidents. Besides our own internal security auditing, we frequently work with external partners to make sure we pass the most updated and leading industry standards. As for now, we have passed security auditing on all OpenOcean public contracts from Certik on March 9, 2021 and SlowMist on February 18, 2021 without any issues.
Check out our security documentation:
As an aggregator, it’s very limited what kind of attacks, rug pulls, flash loans etc etc. we actually can perform if we would since we simply aggregate different public chains and thri DEXes. However, we are very careful about which DEXes we aggregate and have heavy due diligence procedures to make sure we don’t expose users to potential threats.
Lastly, we try to educate our users about security because we believe a lot of incidents can be prevented by security first approaches.
Andrew:
Thank you Mathias
5. If and when the bear market comes, how will your project stand after the retail investors and panic sellers have left the market? Where will you go from there?
Or maybe if you believe that we are already in a bear market
@obiedobo take us away
Obie (ApeSwap):
hahaha I like that second comment 😄 Depending who you ask on our team we may or may not be in a bear market already 👀
I personally think we still have a long way to go before we get there, but the team has done a diligent job preparing to handle things in all markets.
First of all, we have been very diligent with how we operate financially. Everyone takes an extraordinarily modest salary compared to what we could be taking. We’re in no rush to get rich quick, we’re only rushing to build a solid project.
At the end of the day as long as we can keep funding things to BUIDL long term, keep churning out features, and keep our communtiy happy, we will be able to last the longest of bear markets to come out the other side.
Andrew:
Awesome, thank you for that Obie. Ape Swap always doing what we as the community like to hear
@Alendo next
Mean (Bakery Swap):
It is very simple
We are here for the long run, we are building the best NFT marketplace, not only for bakers but also for partners (from a B2B point of view). Of course, a Bear Market will bring about NFT transactions or volume reduction, and investors will be more fearful, but our commitment to Bakery is beyond bull or bear market.
Andrew:
Awesome, thank you Mean
@TricksterDude next
Lord Glitch | HyperJump 🚀:
Well, our project is at that stage i believe. I won’t lie but yes price action due to scam coins, bull and bear, elon memes everything has affected the whole market. But our team changes and other factors have affected HyperJump as a project.
What didn’t change is our will to build.
What people think is team change is a bad thing, but in my opinion it gives way for fresh ideas to rise.
These ideas are more focused on when prices doesn’t look right. We have a bunch of them like 6 to 9 months of ideas preplanned.
Our new management has decided a structure we need to follow. We need to correct the loopholes or gaps that were left by the previous team and follow our own path at the same time.
Major changes are coming, some new features as well as major corrections that will open a path for us to grow, that will introduce new investors and new communities to our project.
We have a plan, bull or bear we will continue to build.
Andrew:
Yeah I think that is the general consensus among the rightr projects of “bull or bear we will continue to build” love that
and just to emphasize the right projects have this mindset
@jetfuelmiro next please
Flight Commander Miro (JetSwap):
Jetfuel has a full suite of products to serve all the areas of Defi and we plan to continue developing regardless of the market. Our external and internal roadmap is robust. Investors will always be looking for yield and we’ll be innovating to ensure that we’ll be able to deliver positive yield for years to come.
Andrew:
Thank you Miro
@C_L_LaunchZone next sir
C.L (rebranded) LaunchZone:
It is very important to see that the Bear markets are only the correction periods of a bigger picture of Defi development. We in LaunchZone share this belief as we are all Crypto-enthusiasts who hope to benefit from Defi and Blockchain both financially and technically. It is fun and vibrant when the bull markets come and everyone win, but to us, the bear markets are not any less important as they are the low times of the market that give us time to build and upgrade our products.
Our strategy is simple: win big and save much during the bull periods; while building and upgrading new products during the bear market.
During this low period, we’ve also teamed up with 100XCoin team and BSC.Army to create a new Project called CremePieSwap on Polygon Network. This shall be the biggest IDO event this summer and the evidence to our movements during the low market periods: build for the future.
Andrew:
Awesome, yeah the Bear market could be seen as just a long period of correction but that should not at all affect the long term vision of DeFi as a whole
@OpenOceanTech last but not least
OpenOceanTech:
First of all, our team has been in the industry for a very long time, so we have experienced bear markets before and we won’t panic at all. Our token is a governance and utility token which should be the primary use. If holders panic and sell, we can’t do anything. But rest assured, we will continue to work hard on the protocol – also during bear markets because there will be brighter days ahead. This is also why I believe the community will stay around with us during bear market.
Bear market is the best time to build and prep for the next bull market 😉
Andrew:
Yes especially now with such a large DeFi community, I know that most people here will stick around and I am excited to see all the project here in the next few years 🙂
6. With so much that has been accomplished between the each of your projects, how do you incentivize yourselves to constantly improve and drive forward in a growing market instead of becoming complacent?
@obiedobo take it away sir
Obie (ApeSwap):
This goes back to the “Decentralize the DEXs” narrative that our team preaches 🙂 we have such a long long long way to go until DEXs are truly decentralized on BSC and 1 project doesn’t own the vast majority of the market share.
With that in mind, it’s easy to stay motivated ❤️
Andrew:
Thank you Obie
@Alendo ?
Mean (Bakery Swap):
We have a passion to build new things and make them by ourselves. We want to be at the forefront of DeFi, and participate as builders. Job and passion are synonymous for us, no need for many incentives to do it.
Andrew:
Yes, very important that work is a natural occurrence
@TricksterDude
Next
Lord Glitch | HyperJump 🚀:
Our team profits are minimal.
Swap doesn’t earn us anything, it goes to buyback and burns, farms doesn’t earn us it also buys back and burns, staking as well.
As industry standards we get some part of emissions that are used for devs payments and eam payments, most of it goes back to the community in form of pools by token exchanges.
We need people who believe in us. They get our tokens, they get profited alongside us as we grow.
But as i said new major changes will be coming, we will be making this whole ecosystem better in itself. It will be funding itself.
A leak- It will be funding anyone who wants to work with us. Not our team but even community developers.
I wish I could share it all, but I believe that is a topic for bsc news podcasts. 😉
Andrew:
yes go check out the podcasts, Ben our host is awesome! And that will be a very interesting topic to cover
@jetfuelmiro up next
Flight Commander Miro (JetSwap):
Defi is one of the fastest moving industries you can be be a part of. If you do not move fast, build great products, and keep your community happy, you’ll quickly lose users and value. We aim to release new partnerships and products every single week!
Andrew:
Every week? that is awesome
@C_L_LaunchZone next
C.L (rebranded) LaunchZone:
We can say without doubt that we are proud of our achievements but those are only signaling that we’ve been on the right track. As our initial goal is to create a sustainable economic ecosystem for everyone to benefit from, we can only be satisfied when seeing our long term goals achieved and everyone enjoying financial freedom. As there’s still unhappy people on earth and as long as there’s still people being torn apart by the centralized economy, our mission journey shall continue. Therefore, we shall commit all our efforts and resources to build products and services that can make the world a better place. With this thought in mind, moving forward in this growing crypto market is a must.
Andrew:
Thank you C.L. !
@OpenOceanTech next please
OpenOceanTech:
We are all in this for the long run and care deeply about the project. No core team members have left the project. We keep up the motivation by constantly developing new exciting products, add new aggregations, talk to the community and partners.
Our project is also owned and governed by the community, which has shown tremendous motivation to make this happen.
Andrew:
The community is the driving force I see, that is great to hear
So this next question is something that I am personally really interested in hearing
7. How do you feel as though your project stands out amongst the others?
@obiedobo
Obie (ApeSwap):
Honestly, the caliber of project in this AMA is astounding ❤️ and frankly I don’t think it’s about standing out.
I think it’s finding a way to create win-win situations that can help grow DeFi and the overall crypto space. Fiat, corrupt entities, and intransparency are the enemies. Not each other 🙂
Once again, let’s decentralize the DEXs.
Andrew:
Obie with the love as always ❤️
@Alendo next
Mean (Bakery Swap):
Feeling like, through innovation and building capacity, to bring new and exciting things to our bakers.
Andrew:
Thank you mean
@TricksterDude next
Lord Glitch | HyperJump 🚀:
Our team is proud of what we have built, and what we will be.
Galactic patrol is working like crazy, sleeping less and working more. Devs are working tirelessly. It is going to be totally awesome in the upcoming months.
We are safe, people who want to be protected from rugs and exploits. This is your place. People who want outstanding features, keep an eye on us, we are coming up with them.
Plus HyperHeist is what i think makes us different, you can earn by staking, but can you shoot lazers? 😄
Andrew:
Haha yes, have not seen the ability to shoot lasers yet
@C_L_LaunchZone next please
C.L (rebranded) LaunchZone:
The world never stops so being outstanding is a starting point once achieved, rather than a mere goal to head to. If the operation and vision of LaunchZone is seen as outstanding to others, this is evident that we’ve been on the right path and our efforts are actually showing results. This gives us cheerful emotions as project developers and motivates us to continue harbouring our vision of a sustainable defi ecosystem. What needs to be said here is that no matter if we get good or bad reactions from the public, we shall not stop and every feedback is only viewed as hints for us to keep improving our work.
👌👌👌
Andrew:
Thank you for that answer C.L. and I find it hard to believe that people could be negative when it comes to Launch Zone
@OpenOceanTech Up next
OpenOceanTech:
OpenOcean is the world’s first and leading CeFi and DeFi full aggregator for crypto trading. This means that we aggregate both decentralized and centralized exchanges, which none of the other ones do. Besides that, we will work on the aggregation of derivatives, yield-generation, lending, insurance products as well on both DeFi and CeFi, and to launch our own combined margin products and intelligent wealth management products.
We also gain an edge with our proprietary algorithms that find the best prices and split the routes to provide traders the best prices, low slippage, low gas fees, no additional fees, and fast settlements.
Together with leading machine learning experts, we are working on an upgrade that will complement our current system to provide better trading prices on Ethereum. We will launch cross-chain swaps to better facilitate a one-stop trading experience.
Below are some of OpenOcean’s competitive advantages:
1. More public chains integrated: OpenOcean aggregates DEX ecosystems on all mainstream public chains such as ETH, ETH Layer2, BSC, TRON, ONT, SOL, Polygon, and more. OpenOcean will also support cross-chain transactions with the best price.
2. Lower transaction cost for users: OpenOcean offers free service to users and will further subsidize users’ slippage loss and gas fees with OOE tokens in campaigns.
3. More products available: Besides Swap trading, OpenOcean will aggregate derivative, yield products, lending, and insurance products on DeFi.
Andrew:
Awesome
So now we will move on to some project specific questions and then that will conclude this AMA!
So @obiedobo
With your recent cross chain move over to the Matic network, how does this affect your operations within the BSC platform?
Obie (ApeSwap):
So BSC is our homeground. Always has been, always will be. It’s native to where BANANA tokens are, most of our liquidity, etc.
It was very intentional that we would bridge over the BANANA token from BSC instead of attempting to create a new token, since we did not want to be creating extra inflation for ourselves to manage.
That being said, it does now give us 2 ecosystems that we need to account for. As such we have been scaling our tech, biz dev, marketing, and product teams to handle this growth!
Andrew:
Awesome great to hear
So it seems as I accidentally skipped over JetSwap for that last question
@jetfuelmiro Can you tell us about how you believe JetSwap stands out amongst the other projects?
Flight Commander Miro (JetSwap):
No worries @DrewtheAce thanks for coming back 😅
Everyone here are fantastic builders and have wonderful projects. But to answer the question, In order to stand out, you must innovate. Jetfuel has been able to incorporate autocompouding vaults, decentralized lending and borrowing, and a multichain swap into 1 trusted ecosystem all with super low fees.
We have our eyes set to built on more blockchains as well.
Andrew:
Thank you, sorry again
So to get back on track @Alendo
Where do you see the NFT market 5-10 years from now? How will you be able to adapt to an ever changing market?
Mean (Bakery Swap):
I love that.❤️
At Bakeryswap, we think that more and more artists, musicians, celebs will join the space. We think that those with strong connections with their own communities will be the most successful especially if they provide exclusive content unlocked after the NFT is sold.
We also think that platforms will evolve into providing a better experience for buyers, like VR digital exhibitions.
The engagement, from both artist-fan, and platform-users, will be the keys to success in our opinion.
Andrew:
Yeah I mean, I don’t see the NFT market going anywhere anytime soon! With so many big name celebrities coming in, it is interesting to see how BakerySwap will capitalize on that in the next few years 🙂
@TricksterDude What is “Hyper Hype” as well as the Bounty Missions feature? Do you plan on implementing other games for players to collect NFTs as well?
Lord Glitch | HyperJump 🚀:
I think you mean HyperHeist.
Hyperheist is our game, an updated version of asteroid armada. Right now only HYPR or AURORA holders can play and test it, adding a use case to the token.
Soon it will be incentivized and it will be a play and earn game. As it uses BUSD or USDC to buy a ticket, it will buy backing and burning tokens and will reward people in BNB/FTM. (Voted by community)
We do have plans to integrate NFTs in our ecosystem as well as in gaming.
Bounty Mission is the name of our Hyper Arcade, new games will be added to it, people would be able to play easily and enjoy them while earning easily.
New management have greater ideas, and we will be having some massive changes in the whole Hyperjump ecosystem, call it HyperDevelopment Drive.
Andrew:
Yes! Hyper Heist! my mistake there
But thank you for that explanation, was super interested when I heard about this
Lord Glitch | HyperJump 🚀:
Will be sending a preview
In just a sec
Andrew:
Yes go for it
Lord Glitch | HyperJump 🚀:
Andrew:
That is sick
sick (american lingo) = awesome
Lord Glitch | HyperJump 🚀:
Available on
Andrew:
haha
Go check this out everyone
Lord Glitch | HyperJump 🚀:
Haha 🦾
Andrew:
@jetfuelmiro What is GForce and how is it “revolutionizing the passive yield and staking token landscape?”
Flight Commander Miro (JetSwap):
GFORCE is an excellent passive yield and automatic liquidity token we developed to complement our ecosystem. It allows users to passively earn more GFCE tokens gas fee as there is on chain trading and transactions.
We’ve recently upgraded our GFCE v1 token to a GFCE v2 with improvements to our whitelisting feature and updated taxes.
3% of the transactions is passively redistributed to all holders, including those in an LP.
3% of the transaction is allocated to building automatic liquidity.
Soon we are going to be launching our GFORCE lottery where users can buy lottery tickets with with GFCE lp tokens to earn more LP tokens!
Andrew:
Great thank you for that explanation
@OpenOceanTech How large of a team do you have to have scaled a platform to encompass so many different blockchains as well as various DeFi and CeFi protocols?
OpenOceanTech:
We have experienced engineers, financial veterans, and community managers spread around the globe. Besides the core team, we have a lot of great community members who help point the project in the right direction 🙂
Andrew:
Okay thank you so much for that Open Ocean
So that wraps up the very first AMAchella!
Thank you so much for all the projects that joined us here today
I can speak on behalf of our community when I say thank you for being here today
Source : bsc.news
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