AMA with Cardaswap
On the 13th of September, 2021 at 16:00 UTC, Decentralized Club had the honor of hosting Mr. Carda, Founder, and CEO of CardaSwap, on an Ask-Me-Anything session on their Telegram page with a community of over 40,000 people. It was hosted by DC Admin, May.
The session was divided into four segments. Introductions were made in Segment 1, questions from the Twitter and website community were answered in Segment 2 and 3 respectively, and live questions from the community members in attendance were answered in Segment 4.
If you missed this event and would like to know what CardaSwap is all about, you can find a recap of the interview here. Note that slight edits have been made for clarity, and links in this recap lead to images, documents, or other media.
Segment 1 - Introduction
[May]
Hello, 大家好, नमस्ते, Selamat!
My name is May and I'll be hosting the AMA with CardaSwap.
Today, we have with us a guest from the CardaSwap Team.
[Mr. Carda]
Thanks, it's my pleasure
[May]
You're welcome to the Decentralized Club and it's an honor to have you here.
Could you quickly tell us more about yourself and your job description at CardaSwap?
[Mr. Carda]
I am the founder and chief executive officer of CardaSwap protocol. I have over 6 years of experience in the financial and foreign markets and knowledge of the defi markets
[May]
That's great!
We'll start this interview with some questions about CardaSwap.
Q1. Can you tell us about CardaSwap and the goals that led to the creation?
[Mr. Carda]
Cardawap was created to give functional defi solutions in a seamless and trust-less trading environment utilizing smart contracts for the Cardano Ecosystem.
[May]
Q2. What innovative solution is CardaSwap bringing to topple its competitors with similar offerings?
[Mr. Carda]
As AMM/Dex protocols are still novel ideas on the Cardano ecosystem CardaSwap will also be launching innovative solutions like Cross-chain trading when launched
[May]
Q3. Can you tell us about your decentralized AMM trading protocol and its features?
[Mr. Carda]
Cardaswap will bring a functional and scalable trading protocol where users will be able to swap and stake their Cardano assets without a middleman. Erc20 and BEP 20 projects can also Bridge their tokens to the Cardano Ecosystem And Become A Liquidity Provider In A Financial Marketplace That Is Open And Accessible To All.
[May]
Q4. Could you briefly talk about $CADA and its utilities?
[Mr. Carda]
CADA tokens will be used to pay for fees, governance, stake to earn more and also will be used for liquidity provision.
[May]
Q5. What are the advantages of CardaSwap on the Cardano blockchain?
[Mr. Carda]
The Cardano Blockchain is still relatively new, so we are on a mission to become the biggest dex on the Cardano Blockchain as our platform will bring about multiple utilities for native assets on the Cardano Blockchain.
[May]
Very good!
Q6. What major news should we still look forward to from CardaSwap by the end of the year?
[Mr. Carda]
We will be announcing our partnerships, onboard advisors, and also conduct our very first IDO/IEO on a Cardano launchpad which will be the first for a Cardano native asset.
[May]
That's great!
Segment 2 - Twitter Questions
[May]
Q1. Unlike Uniswap or Pancakeswap, what are the benefits that Cardaswap provides to your LPs so that more users are attracted to your platform and start providing liquidity? What differentiates your platform from other similar platforms by using Cardano as the main chain?
Twitter Username: @TheShadowJK_1
[Mr. Carda]
Being one of the very first Dex/Amm platforms on the Cardano blockchain, coupled with our novel cross-chain trading protocol, we strive to bring a secure and trustless platform where ADA holders can give liquidity to native assets to earn transaction fees and also a token bridge protocol for ERC20 projects to bridge their tokens to the Cardano Ecosystem thereby incentivizing the use of our platform
[May]
Great answer!
Q2. In an article on Medium, you mention that Cardaswap will use the Plutus smart contract platform. Could you explain to us for what purpose you have decided to use this platform? What functionalities will this allow you to use within Cardaswap?
Thank you!
Twitter Username: @iracundito
[Mr. Carda]
Plutus is the native Cardano full-stack programming environment based on Haskell,
We will be utilizing the Plutus programming language to build our Dapps and write smart contracts which will be audited by an independent auditor
[May]
Q3. Cardaswap aims to be a fully community-owned and DAO-governed Defi protocol in the long run, but who will be in charge of proposing topics and options for the community to vote on?
Twitter Username: @molestika
[Mr. Carda]
We aim to evolve to a Decentralized Autonomous Organisation where proposals affecting our ecosystem will be done by a certain amount of CADA token holders who can be able to propose topics and the community can cast their votes on
[May]
👏🏼👏🏼👏🏼
Let's take three questions from our website community.
Segment 3 - Website Questions
[May]
Q1. It states on CARDASWAP Tokenomics that the Ecosystem tokens will be locked for a minimum of a year and will be used for partnership and strategic growth opportunities.
1. Briefly elaborate on these strategic opportunities?
2. Stating that The above strategic plans enhance the CARDASWAP ecosystem to bring about more usecases for the $Cada token how?
Telegram Username: @Yomcy01
[Mr. Carda]
We would be partnering with other projects on the Cardano ecosystem which will bring about more growth and utilities to our platform
The strategic partnerships will enable our protocol to get and acquire more users, bring about seamless swaps and liquidity provision in the Cardano ecosystem
[May]
Q2. Cardaswap aims to be a fully community-owned and DAO-governed Defi protocol in the long run, but who will be in charge of proposing topics and options for the community to vote on?
Telegram Username: @Kherrera22
[Mr. Carda]
When we finally transition to a fully DAO governance protocol, the proposals will be initiated by holders of a minimum amount of CADA tokens
[May]
Q3. Cardaswap has a tool called Cardaswap Create LP which attracts a lot of attention. What is Cardaswap Create LP? How does it work? What advantages does it offer?
Telegram Username: @Josegamboac
[Mr. Carda]
Right now the Cardano smart contract ecosystem is in its early stages, with our lp creation protocol, project owners and liquidity providers would be able to supply liquidity to any Cardano native token and earn a portion of the transaction fees
[May]
That's good to know!
It's now time to take live questions from our audience.
[Mr. Carda]
Great, I am prepared
[May]
In this 4th segment, I will open the group for some seconds for the live community to shoot you some pressing questions.
Please pick four original questions to answer.
Try to ignore generic, vague, and copy-paste questions 😊
Ready?
[Mr. Carda]
Yes
---Chat was then opened for the live community to send in their questions---
Segment 4 - Live Questions
[Memo]
I understand that the seed round ends on September 20, but can you really tell us what we should do to participate in it? And really what are the benefits that we will obtain if we participate in it?
[Mr. Carda]
The seed and presale round has ended.. we would be proceeding with the public sale when we distribute tokens to initial investors
Our Token ticker is $CADA
[Tetee95]
Can you tell us more about your IDO? How can we participate and when will the tokens be available?
[Mr. Carda]
Once we finalize our IDO details, it will be announced to our community 😀
[Drogon]
The planned Alonzo Hard Fork, which will be the launch of the advent of Smart Contracts later this year, will cause a large increase in the economic activity and utility of the Cardano. What impact can this event have on CardaSwap?
[Mr. Carda]
The Alonzo hard fork event will usher in smart contracts as project owners can be able to build dapps on the Cardano ecosystem
[May]
Can you please take some more questions? 🙂
[Mr. Carda]
Sure
[Dhir]
Sir, what portion of CardaSwap tokenomics is set aside for marketing? Is it a significant figure, seeing as the hype surrounding $ADA is giving free publicity to all Cardano projects? Thank you.
[Mr. Carda]
We set aside 11% of our total token supply for marketing and strategic partnerships
[Lin Lin]
Staking is very important for any project. Can I stake any token? Do you have any plan of starting a staking program?
[Mr. Carda]
We are working on a staking protocol where our token holders can be able to stake their CADA tokens to farm for more
Okay?
[May]
Yes! It's a wrap!
Thank you for your time Mr. Carda
Any final remarks for our community?
[Mr. Carda]
You have a great and enlightened community
[May]
Thank you!
Could you please share your social media links?
[Mr. Carda]
Our website is Cardaswap.finance
Telegram Community https://t.me/cardaswap
[May]
Thank you, Mr. Carda
[Mr. Carda]
You're welcome
[May]
Enjoy the rest of your day!
The AMA with Cardaswap is now over.