Beamswap AMA SUMMARY
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Beamswap mainly wants to build DEX on the Moonbeam network, but not only. Could you introduce us to the Beamswap world? Tell us briefly what the project is.
Tim
Happily. Beamswap’s main product will be the DEX (AMM) with Liquidity and Yield farms, but when we set out to build a project we wanted to offer our users more. Me and my team have used the majority of the DEX’s on the top networks and we felt like they could have something more to offer to their users.
Our products & features were curated with users in mind and us wanting to become the go-to DeFi hub on Moonbeam.
Do you want to bridge tokens to Moonbeam? Lets go to Beamswap.
Do you want to participate in Launchpad projects? Lets go to Beamswap
Do you want to swap in liquid pairs with a small price impact? Let’s go to Beamswap.
Do you want to use a DEX in your native language? … You see the point
We wanted a swiss army knife like solution where users are able to enjoy a wide range of products without the need to go to a different tab to a different site.
Can you please tell us more about Beamswap features? How do you want to reward the users in the future? What is the difference between your DEX and many others, and finally, what makes you unique?
Tim
So on our launch day you can expect the following features to be live: Swap, Liquidity, Yield farms, Beamshare, Locker, Bridge and GLMR Faucet.
As we progress down the timeline we will be adding the Launchpad, Governance, Multilingual support, Syrup pools, Portfolio tracker, Charts, Advanced charting tools, Limit orders, zap and more.
Our users can be rewarded in different ways from receiving a portion of the DEXs fees via the Beamshare product to Syrup pools, IDOs…
The best reward though is not the monetary one, its having a great user experience while using our products!
Its hard to say what the difference is in general as a lot of the DEXs nowadays are unique in their own way, but we definitely aim to fortify our place as the go-to DeFi hub on moonbeam!
Can you say something about your team, skills, a lot of people here wants to meet you better, share your experience with us, should be nice to know more about the people involved in structuring the whole project.
Tim
Thats a great question! So we have all been in crypto for 4–5 years now on average, we each bring a unique set of skills to the table and its a huge benefit to work with people that youre also friends with and have known for a long time. I am tasked with overseeing things, anything to do with data & analytics.
We have great developers that are experienced with Solidity, NodeJS, Javascript, Python, HTML, CSS… Its best to let the product speak for itself https://test.beamswap.io/ and the audit of our smart contracts https://solidity.finance/audits/BeamSwap/ . We also have a designer, a copy writer, video editor, business development manager & security advisor.
We also have a marketing person! Can’t forget about them!
Moonbeam is a fresh network, why did you choose it? Tell also something more about your $GLINT token use cases, it would also be interesting if you could explain the function of the Beamshare token.
Tim
We’ve all been huge fans of Polkadot since we first heard about it in 2017 and when the first signs of trouble started appearing with Crypto kitties clogging up the Ethereum network we all started looking forward to the network of the future instead.
It took a couple of years and with DeFi changing the landscape Ethereum’s problems became even more apparent.
We’ve have chosen Moonbeam because its EVM Compatible, the fees are low, they support all of the available tools on Ethereum, transition for users & projects is simple , they had over 200k contributors in the parachain auction and their canary network — Moonriver attracted a lot of projects and investors. It also gave us enough time to prepare our project to launch and gain the first movers advantage. We started working on Beamswap at the end of September 2021, with Polkadot auctions around the corner.
Essentially $GLINT will be a Governance token with a portion of the DEXs fees being used to buy it back and burn it. It will gain a lot more utility via our Beamshare product such as Launchpad participation, Syrup pool farming, getting a portion of the DEXs fees and more.
Beamshare functions as a single sided auto compounding pool. You deposit GLINT and receive SHARE. You are earning an apy on your glint deposited from the DEXs fees so when you withdraw your glint you get more than you initially deposited. $GLINT-$SHARE ratio starts at 1 on launch and will only increase overtime. SHARE will be used for IDO allocations, Syrup pool farming, Robust governance. It wont be listed on CMC,CG or have liquidity provided for it. SHARE’s only function is as a proof of deposit for your GLINT which you can move around while earning APY.
Can you tell us something about your marketing strategy? What are your plans for the future?
Tim
For marketing we are taping into our strategic investors, KOLs and a couple of other resources like Coinzilla, news outlets etc. We are going for a combination of organic/paid/allocation based marketing. It is important for us to grow our community and keep it engaged as later on they will be the ones dictating the direction of the project!
We also hired a marketer, video content creator and a copywriter to make our content more enjoyable and available. We are also focused on getting our announcements and content translated into other languages and pushed out using different regional outlets.
We know that you also plan to build your own launchpad, what can you tell us about it? Also, tell us what projects you are going to support and launch in future?
Tim
So our launchpad will be available to the community members holding the SHARE receipts. In order to participate they will have to lock the tokens for at least 7 days, but they will be still earning APY from DEXs fees. In case they will want a bigger allocation they will be able to lock the tokens for 14 days for a 10% increase or 30 days for a 25% increase + Mandatory KYC.
We are in talks with a couple of projects that want to migrate from Ethereum to Moonbeam because their communities have an issue with the expensive fees, but they want Moonbeam to mature more so we will see how it goes.
What is your most important goal besides building a DEX and Launchpad?
Tim
Keeping the team and community happy, sustaining the project in the long term and successfully transitioning to a governance model.
Community questions
Melsie
Where i can get all the latest news about ? Do you have Twitter/Telegram/Discord community? If yes can you share the link here because there is a lot of fake telegram/twitter groups?
Tim
Of course.
TG Group: https://t.me/Beamswap
TG announcements: https://t.me/BeamswapAnn
Twitter: https://twitter.com/Beamswapio
Discord: https://discord.gg/beamswap
Fredia
Why you choose Binance Smart chain? we see some chain pop up with good scalability too, then why you choose BSC?
Tim
This seems like a common mistake so I will answer it to make it more clear.
$GLINT token will only be deployed on the Moonbeam mainnet.
We are not building or launching on the BSC.
Winners questions:
Lynda
Have you being audited ? Have not heard you talk about that security of funds is what every investor craves for and plans to escape incase of insecurity if funds,scams and rug pulls ? How strongly built are your security put in place?
Tim
Security is one of our top priorities. Our smart contracts on Moonbase Alpha were audited by Solidity finance (https://solidity.finance/audits/BeamSwap/) once we have everything deployed on the Moonbeam mainnet we will get a 2nd opinion and our smart contracts will be published & verified in the explorer as well so that people can verify the code themselves.
One of the requirements for tokens to be added to our token menu will be locking their LP tokens to prevent rug pulls. We also have a cyber security advisor as the cherry on top!
Don
Are you afraid some day there will be another project with more innovative technology can replace your project ?
Tim
In crypto it is important to be dynamic and adaptable otherwise you get run over by time. We are focusing on building a strong foundation will continue developing and growing overtime.
After 24–30 months we aim to move all of the decision making to our DAO so that the community & holders will be able to decide on what products to build and what direction to go in while our team executes.
Our IDO is tomorrow you can find more information here: https://t.me/BeamswapAnn/14
You can also complete tasks in our gleam competition to be eligible in the draw to receive $GLINT tokens https://t.me/BeamswapAnn/8
Once we launch you will have other opportunities to earn our token such as Yield farming.
About Synapse Network
Synapse Network is developing a cross-chain investment and start-up acceleration ecosystem based on blockchain technology to give everybody an equal chance to contribute to great upcoming projects and to do so early on. We are bridging the gap between the traditional & crypto market. The idea of the Synapse Network technology goes beyond the standard offer of launchpads available on the market, becoming a true technological brand providing tech solutions.
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