AMA with DogeSwap
Introduction with DogeSwap
Q1. What is Doge Swap about and how does it brings something different in the meme ecosystem?
DogeSwap is a DEX ecological platform initiated by the global doggo community. It is dominated by the DAO community autonomy. It aims to integrate multi-chain ecology and decentralized financial concepts to create a high-performance and free transaction DEX ecology. At the same time, it applies transaction mining pledge mining as incentive methods to return DeFi market dividends to users.
DogeSwap is now launched on the BSC and HECO and plan to be launched on more chains near soon.
The biggest difference of DogeSwap is the spirit of complete fairness and justice. DogeSwap is initiated by some groups that strongly recognize the spirit of dogs. Fairness is the core value for this project, which is reflected in several directions:
• 0 pre-mining and 0 private placement before new mine launched, fair start;
• All actions are operated in accordance with rules (such as airdrops);
The core management right of swap is determined by who has the mining right.
Example: ACOIN-USDT can mine DOG
The previous swaps, such as SUSHI and MDEX, are in the hands of officials. They decide which project can be mined and how much their income is. DogeSwap turns all rights into contract rules, and the platform cannot change anything.
Q2. What are the benefits of being part of the Doge swap community?
I’ll answer it from two perspectives: users and projects.
Users can choose different pools to participate in mining and get BDOG rewards;
Users can not only mine BDOG on the DogeSwap platform, but also participate in the board of directors to receive DOGE rewards every day;
Because the DogeSwap platform uses the DAO organization, users can vote on any major decision and participate in ecological governance.
For the project party:
The mining mechanism is fair and just. As long as the project conforms to the platform algorithm rules, all projects are welcome to participate.
High mining income: LP mining, single currency mining, transaction mining, multiple incomes, accurately ensure user requirements, and increase project market activity.
Participate in the board of directors and receive DOGE daily as dividends.
Q3. What is the utility of DOGE SWAP native token in the platform and why should we be holding it?
DogeSwap's native token in the HECO is DOG, and the native token in the BSC chain is BDOG. Users who hold the tokens have the ecological governance rights of DogeSwap on different chains. Users can also participate in voting regarding future decisions.
Q4. Can you tell us about some of the ongoing major developments that will come to fruition before the year ends?
Last one in this segment
DogeSwap was launched on HECO for the first time on 3rd March this year and became the largest swap exchange on HECO in June. At the same time, the DOG tokens were launched some centralized exchanges. Recently, the cross-chain BSC ecology has been completed.
Next, DogeSwap will gradually complete the cross-chain polygon and OEC ecology to build a truly decentralized ecology. More and more outstanding people are attracted to join the community. We hope more users and projects will come to build a community with decentralized ecology together.
Community ask questions from Twitter
Could you elaborate more about DogeSwap's tokenomics?? And;
What is the total supply? and
What kind of long term plans do DogeSwap have regarding the token unlocking ?
BDOG is an equity certificate issued based on the BSC, with a total issuance of 100 million. At the same time, the total number of DOG in HECO ecology has been reduced to 900 million.
The purpose is to always maintain the total number of equity certificates of DogeSwap in all public chains at 1 billion. To ensure the fairness of each chain’s ecology.
DogeSwap does not have any lock-up mechanism except that the board of directors has a 30-day locking up period of their pledged assets.
Most projects are now abandoned in the middle of their operations due to a lack of sustainability and incapacity to support expansion in a market that is wildly shifting. How will #dogeswap be able to deal with market fluctuations in an efficient manner?
DogeSwap is a completely decentralized project. It will reach a state of automatic balance based on the development of the market. However, we are still aiming to grow this community and conducting marketing events like AMA, Airdrop, building connections with other communities.
Also, the ‘hot spot' of the market is constantly changing. For example, NFT has attracted lots of public attention recently. DogeSwap will also optimize and upgrade its products for this part of user needs. It is expected that DogeSwap will be launched on the NFT section this week to attract more users to participate.
The DogeSwap project can not only be flexibly traded, but can also participate in mining ecology according to the rules of the platform. The two develop together? Do they get benefits together? How do they complement each other?
Trading is the core part of DEX. DogeSwap's mining ecology and trading are actually complementary, because the income of mining is adjusted based on the amount of the transaction fee. The more active the trading market is, the higher the mining revenue will be. More mining revenue will trigger the more active trading behavior in the market. In summary, it is a mutually reinforcing and complementary relationship.
Community ask questions from Website
What is the purpose of DogeSwap’s Boardroom? Who are the people inside the boardroom and what is their role in DogeSwap’s ecosystem?
Telegram Username: @Jmagsss
The board of directors is mainly for the welfare of the community members. Because DogeSwap is a DEX initiated by the global Dog community, we will repurchase DOG tokens every Tuesday based on the weekly handling fees on the platform. In the HECO, 70% of the handling fee is to buy back DOGE and allocated to the board of directors. In the BSC, 50% of the handling fee is to buy back DOGE and allocated to the board of directors.
In the board of directors, users who hold DogeSwap equity tokens play an important role in the decision-making of ecological development. Only members who hold DogeSwap equity tokens can participate in decision-making voting.
When I read your whitepaper, I came across mining protocol. Can you share the rules for LP mining? What is the solo mining zone? How is it different from the normal mining? What advantages does miners get by this?
Telegram Username: @albertjaison
As long as the LP is established in DogeSwap, the total asset value is greater than 100,000 USDT, and the daily transaction fee for three consecutive days is greater than 100U. Then the LP of this asset can come to mine DogeSwap's token DOG. There may be many tokens LP to mine. For example: A token LP, B token LP, which of these two LPs has a high mining coefficient? It’s based on the transaction fee of this LP. If the transaction fee of A LP is twice the transaction fee of B LP, then the mining reward of ALP will be twice that of B LP.
Single token mining rules:
If the single token mine can reach to 10,000 USDT liquidity and daily transaction fee can be up to 100U. This token will be listed in the single token mining area. The mining income is depending on the number of included addresses.
Speaking of the differences from other mining ecology. Firstly, any project has the opportunity to be launched and must be executed according to algorithm rules. Secondly. The mining ecology is 100% fair and just.
DogeSwap has completed the adjustment of the mining coefficients in both HECO and BSC. According to what has been done the adjustment of the extraction coefficients in both chains? What percentage will have the highest APY of both chains?
Telegram Username: @Josegamboac
DogeSwap has the same mining rules on BSC and HECO. The adjustment of LP's mining coefficient is based on the previous day's transaction fee from the pool. The higher the transaction fee, the higher the mining coefficient of the entire pool. The single token area is based on the number of pledged addresses in the pool. The higher the number of addresses, the higher the mining coefficient.
The mining coefficient will be adjusted every day, because APY is not fixed and according to changes in handling fees and the number of pledging addresses.
Live Questions answered by DogeSwap
DogeSwap is now available in both HECO and BSC, allowing access to more users. Do you consider incorporating the DogeSwap platform into other blockchains? What are the advantages of being a multi-chain platform?
Next, DogeSwap will gradually complete the cross-chain polygon and OEC ecology to build a truly decentralized ecology. Thus, we can provide easier access to more users and enhance our project reputation. It’s also helpful for stabilizing the token price.
This, it's coming. I am not sure what the price of DogeSwap NFT will reach. But I do think it will help the community to attract more members.
Most of investor just focus on the price of token in short term instead of real value of project. Can you (as Steady State Team) tell us the motivation and benefits for investors to long term?
The is initiated by a group people who are Doge fans. We already established the culture of believing and holding. Also, the mining mechanism as mentioned before provides lots of investment opportunity for users. Thus, we believe there will be more members joining the community.
How can I trust your project? Is the project safe to invest and have you done any audit?
Absolutely, this project was audited by Armors Labs. Everyone can check the detail through:
❤️To stay updated with DogeSwap group please join their official Telegram and Twitter:
👉 Follow DogeSwap Twitter : https://mobile.twitter.com/dogeswap_fans
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Before you go any final words to our community?
Really appreciate DClub provides this great opportunity to share information about Dogeswap. Also, we’ll start some amazing events later on this week.
Welcome everyone to follow our twitter: https://twitter.com/DogeSwap_fans
TG group: https://t.me/dogeswap_en
Thank you so much!
Our AMA with DogeSwap has ended ! Thanks everyone for attending our AMA and thanks to Doctor D
Thank you All ❤️
Have a nice day