SokuSwap AMA Summary with Decentralized Club ✔️
On the 5th of April, 2021 at 16:00 UTC, Decentralized Club had the honor of hosting Nisheta
Sachdev and Sammy Arora from the Soku Swap Team for an Ask-Me-Anything session on their
Telegram page with a community of over 30,000 people. It was hosted by DC Community
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 Soku Swap is all about, you can find a
recap of the interview here. Note that slight edits have been made for clarity.
Segment 1 — Introduction
Good evening everyone
Welcome, Sammy, and Nisheta!
Hi, it’s great to be here!
Great to have you here 😁
Hope you enjoy the ride.
[Nisheta] Looking forward to it!
We would be starting segment 1 the introductory questions
Q1. How did the idea of Soku Swap come up and why does that idea have huge market
[Nisheta] This is a great question!
Bitcoin was made out of the need for decentralization and the need to give everyone financial
freedom and control over their funds.
Centralized exchanges have pulled the rug, scamming millions of traders over the years — and
now the importance of decentralization in crypto is more evident than ever!
Soku Swap is here to make sure everyone has access to crypto education — boosting
mainstream cryptocurrency adoption and access to amazing customer support. The goal is to
help all users from absolute basics to troubleshooting.
The market potential comes from our exchange being for the people. Education goes a long
way, especially in the early adoption of an industry, such as cryptocurrency. We aim to be
industry leaders in education for all traders.
Q2. Where does the Soku token fit into all these?
The SOKU token is a governance token. It will be used as a means for users to vote for new
ideas and changes on the Soku Swap platform.
We currently have our ongoing ICO until May 7th where the tokens are selling for $0.05 but next
week, we have our launchpad where the tokens will be selling for $0.07
When you participate in the presale you’ll receive SSOKU. These will be used to redeem your
SOKU on our site on June 1st. You can find the contract info for SSOKU here:
Good to be noted by the community
[Nisheta] Yeah it’s really exciting!
Q3. Among the features on offer, the Swap Box and Token Score seems most interesting to
me. How do you make sure that your users will not be at a loss by trusting the above features
for their investment?
[Nisheta] This is a really good question!
The token score is meant to help users make informed trades — as a means to make sure they
have all the information right in front of them. We just make it easier to see the information.
In terms of the Token Score — these are basic things that every trader must be looking into with
The use cases
Whether the token is sellable or not
The team members of the project
The supply of the token
Our team basically goes through the whitepapers of newly listed projects and compiles all the
information into a Soku Swap Rating.
The Soku Swap Boxes are a way for users to diversify their portfolios in a faster and safer
manner. Many traders are actively looking for new projects and upcoming tokens. Rather than
spending time doing the research, we do the research for you — making it faster and easier than
The Soku Swap Box mechanism allows users to see the top trading tokens and choose to
invest or not.
As an exchange, we certainly cannot guarantee profits or losses, and all investments are made
on your own accord, however, we can definitely make the process easier for everyone. We aim
to educate users, new and old, and to make sure all users have the same opportunities.
We highly recommend all users do their own research before making any investments.
Sorry for the long answer! Hope everyone has enough time to read this one ☺️
A minute for the community to digest
This is great
Q4. Do you have any substantial developments in the pipeline for the rest of the year?
I’ll try and keep my answer as short as possible 😂
Of course! It wouldn’t be worth launching if we were planning to be just another boring
exchange! Our timeline can be found on our website, but to sum it up for you:
We plan on launching the Soku Swap platform at the end of the month.
In June we plan on adding our easy to use flash loans to both, the Binance Smart Chain and
By Q3 we plan on rolling out our incredible customer service chat and educational platform.
Finally, at the end of the year, we plan on launching our own stable coin.
Partnerships make projects last long in the business
We move to the twitter segment
Questions in a jiffy
Segment 2 — Twitter Questions
Q1. I understand that the native tokens of your project are SOKU, but could you tell us a little
more about its utilities and distribution? And also why are you planning to develop your own
stable coin in Q4? What use will they have?
Q2. On sokuswap, each token is given a Token score, how is this token score arrived at, and
what purpose does the Token score serve in sokuswap?
Q3.How do you provide customer care to a Decentralized Exchange? I mean if I lose access to
my wallet how will you get my account back as CEX customer care does?
It’s actually a really cool feature! Our team will review the whitepapers of newly listed project
tokens and give you their liquidity, total supply, team members, use cases, and whether or not
you will be able to sell the tokens.
This way traders get all the information they need to make informed trades. It’s also a way to
teach new traders what to look for when researching a project to invest in.
The tokenomics can be found on our website (sokuswap.finance), but I’ll leave them here in
Ticker name: SOKU
Token type: BEP-20
Total token supply: 222,22
Total tokens available for sale: 111,111,111
Legal and compliance: 15%
Educational programs: 10%
In addition, we have our token lock-up in which the equivalent value of 0.05% of all trades that
take place on the exchange will be locked up in SOKU Tokens every 30 days for 30 days.
These tokens will be released and a new lock-up will start. As the trading volume grows, the
amount of tokens locked every 30 days will increase too.
We will be developing a non-pegged stable currency by the end of this year. We will provide
everyone more details about this as we get closer towards the end of the year.
We plan on having the same customer service as a Centralised Exchange, however, we will be
much more responsive and create instant solutions for all our users. I myself have had a really
bad experience with Binance where I lost some BTC in a transaction and paid more BTC to get
it resolved. The issue was supposed to be fixed within 4–8 weeks and I haven’t yet heard back
from anyone 7 months down the line.
We can’t get anyone back into their wallets. We can walk people through the steps to get back
into their wallets assuming they’ve saved their Private Key and Seed Phrase. We can help
people set up new wallets and keep them secure. We can walk people through how to use the
exchange, and all the features, and answer any questions they may have. We can help people
look up transactions on Etherscan or BSCScan. We can answer questions in real-time about
gas fees and slippage. There are tons of ways we can help people!
Great and apt answers,
Segment 3 questions incoming
Segment 3 — Website Questions
Q1.“Swap Boxes are predesigned sets of tokens that will allow users to first get into crypto in
some fun, new and safe tokens”
What is the selection process for the tokens that would be featured in the Swap Boxes? Is every
Swap Box different?
Telegram Username: @yuzuru21
Q2.Most users only care about immediate benefits rather than the real value of the project in the
long term. How can Your Project convince users to invest in your platform in the long term?
Telegram Username: @emu_2
Q3.You say that “Flash loans are no longer just for developers. They are for people”, but really
how beneficial will users have in those loans in SokuSwap that they will not have in loans from
Telegram Username: @Gutike95
This is my personal favorite feature! Each week, our team goes through a list of the top gainers
and most traded tokens in crypto. We make sure the tokens are verified and do the research for
you! All users have to do is buy a package, ranging from $50-$1000 and pick the amount of
tokens they would like to receive. It gives traders a fun way to diversify their portfolios and
discover new cryptocurrencies.
You will be able to decide whether you want to open a box with the top 10 trading crypto of the
week or the top gainers of the week, once you select the type of box you will be able to choose
whether you would like to split your investments across 5 different tokens or get just 1 single
token! The list of available tokens will be displayed so users can make informed decisions
We are not just a regular crypto exchange. Our platform has a huge focus on customer care and
crypto education. Along with offering the most up-to-date and exciting features of a
decentralized exchange, we want our users to feel safe and valued. Our constant live on-screen
chat is for users to bring up any issues they may be facing and our crypto classes are available
for users to learn more about the industry and the exchange. This way everyone can make
informed decisions on everything they do. Users can earn rewards by attending these lessons
and for every successful referral in the form of SOKU tokens.
We don’t just offer flash loans and send our users to try and create profitable trades for
themselves. Although our AI Flash Loans will not do all the work for you they will help you set up
arbitrage trades with exchanges Pancake Swap and Uniswap. The AI technology used will be
quite useful in seeing whether the arbitrage trades you plan on making will be profitable or not.
You’ll be able to set up a flash loan in a few easy steps.
1. Choose the token you want and how much you want to borrow.
2. Choose the token you’re going to buy.
3. Pick the exchange that you’ll buy from and the one you’ll send to.
4. Submit the order.
You have not talked about audit and security
How safe are investors’ funds?
[Nisheta] Yes! Of course.
For security, we will be using an in-house Security Operations Center (SOC) to monitor any
security risks 24/7.
We have security protocols to protect our domain to prevent any similar attacks to what
happened to Pancake Swap a few months ago
As for auditing, we are in the process of being audited now. Safety is our priority!
Since we are a decentralized exchange, we do not hold users funds — users have complete
control over their funds via their personal wallets
Segment 4 — Live Questions
Before we open up the group for the live session, can you post your social media links?
Everyone should join up the group
To be able to claim AMA rewards
Group will be opened for 300 seconds
10 seconds delay timer will be implemented also
Opening at 16:32 UTC
— -Chat was then opened for the live community to send in their questions — -
Do you have a Token Burning plan to increase Token value and attract Investors to invest?
No, we do not plan to burn tokens, however, we have our token lock-up in which the equivalent
value of 0.05% of all trades that take place on the exchange will be locked up in SOKU Tokens
every 30 days for 30 days. These tokens will be released and a new lock-up will start. As the
trading volume grows, the amount of tokens locked every 30 days will increase too. This
ensures a certain number of tokens will always be locked and unavailable to buy or sell
decreasing supply in a different way
Could you tell us a bit about the “focus and customer service of a centralized exchange” that
SokuSwap has? Really, how similar to a fully CeFi platform does SokuSwap have?
[Nisheta] We have had poor experiences with customer service on centralized exchanges in the
past. And we’ve noticed DEXs in general don’t have any customer service at all. We want to
focus on the users completely with 24/7 customer care for all problems and troubleshooting -
from setting up a wallet to problems in trading
2 more to go
Could you tell us a little more about your “exchange box”? I know that it will be chosen based on
the statistics of the most traded tokens, but really why trust in investing randomly in those
boxes? guarantee that their value will increase?
[Nisheta] We definitely can’t guarantee their value will increase, but we can make those tokens
easy to find. Several traders want in on those top gainers but lack the time or knowledge to
research them. That’s where we come in and make it easier for you!
The algorithm isn’t completely random, it’s tokens that the team has researched and vetted out
Kenny Kimora [@kenny_kimora]
The function of the AMA conference is to receive a lot of questions about vision, mission,
technology, utilities, etc., which is very useful. What do you expect from the community? How
can we help with your project?
Our goal is to build a strong community! Any project can be made or broken by the community
alone — so having a strong one is what we aim for
With the Soku Swap Token scores, you will advise users what coins are scams. What do you
take into consideration when rating tokens? It’s the rating made manually by a team or with AI
We manually go through the project’s white papers and all available information. We give you
their liquidity, total supply, team members, use cases, and whether or not you will be able to sell
the tokens. Each token will be given a token score.
XOXOXOXOXO Kylian Mbappé XOXOXOXOXO [@galdirik]
What are the competitive advantages of your project? What advantages do you have over other
competitors? What would be your project’s most similar contender in the market today in terms
of scalability, security, features, and adaptability?
[Nisheta] This is a great question:
We offer payouts in the form of SOKU tokens to users based on weekly volume. If you use the
exchange a few times a week and have tokens staked, you’ll receive a weekly payout. Kind of
like being a stockholder in a company and getting paid weekly dividends.
We offer educational content that new and experienced traders have access to, and we provide
tools that allow them to make informed trades.
Our Soku Rating Tool helps users check the validity of tokens to make sure they are safe to buy
Our platform offers Soku Boxes which contain bundles of top gaining and top trading
cryptocurrencies to make it easier for you to diversify your portfolio
Our walkthrough guides allow for new users to get help in setting up their wallets, purchasing
their first cryptocurrency, and making trades on the exchange
Our customer support is available 24/7 to answer all questions
Since we run on two chains — the Binance Smart Chain and the Ethereum Network, our
exchange runs fast with the lowest gas prices around!
Wow, great and apt answers
[Nisheta] The questions were great! Wish we could answer more.
In case we haven’t, feel free to reach out to us on telegram or social media!
For those looking to take part in our ICO please visit sokuswap.finance
Thank you for coming
[Nisheta] Thank you for having us!
This was great! Thank you everyone for being here.
Do you Have anything to tell the community before we call it a day?
With our ongoing ICO, the selling price of SOKU is $0.05 but on the launchpad next week, the
selling price is $0.07
you can find out more information on this at sokuswap.finance
We hope for you all to be a part of our community!
Thank you for your time