Matrixswap AMA Recap

16 Sep 202122:15

AMA

Matrixswap AMA Recap

Harper (CryptoDiffer)

Hello, everyone!😁

We are glad to meet here:

Joseph Liu, Founder of Matrixswap

Joseph Liu

Hello everyone!
So great to be here
thanks for inviting me

Harper (CryptoDiffer)

Welcome, Joseph, thank you for your time)
Our team has prepared several questions to start with!

Joseph Liu

I'm ready

Harper (CryptoDiffer)

let’s begin with the introduction
Q1: Can you introduce yourself to our community?

Joseph Liu

Sure!
I'm Joseph Liu, the founder and core contributor of Matrixswap
I’m originally from Taiwan, currently living in Germany. I’ve been in crypto since 2016 mainly as an investor and swing trader.
I’ve helped multiple early stage startups in crypto to raise funds and built a strong network in crypto since 2017.
Our team is based across Asia and Eurpoe and we have seasoned developers that worked on Defi, oracle and NFT projects.

Harper (CryptoDiffer)

Great!
Let`s move to next question
Q2: Can you introduce Matrixswap to us?

Joseph Liu

absolutely
Matrixswap is a fully decentralized virtual-AMM-based perpetual swaps trading protocol deployed on the Polkadot, Polygon and Cardano blockchains.
similar to Binance/ FTX futures trading exchange, but built decentralized.
Unlike traditional AMMs like Uniswap, we offer leveraged trading for any assets.
Matrixswap also offers a DEX aggregator that allows traders to swap multiple tokens into one single asset under one transaction.
we call it the "Emergency Nuke Button"

Harper (CryptoDiffer)

Got it!
Move to the next?

Joseph Liu

yes!

Harper (CryptoDiffer)

So, the last one of the introductory part
Q3: Let`s now talk about the milestones you have achieved so far and about your upcoming plans?

Joseph Liu

sure
we have partnered with several projects in the space
such as Kylin Network
the oracle project on polkadot
we have our DEX MVP (working product) live on Polygon Mainnet
our Perp exchange is live on testnet
We have received funding from a number of reputable VCs in the space
such as X21 digtal, PetRock Capital, SkyVision Capital, GBV, A195, Alphabit
and many more
our IDO will be held on Cardstarter on the 10th of September
so we are very excited to share our project to the crypto community
We have also recently onboarded a strategic partner and advisor
whom is a founding member of a top 10 coin on coin market cap
so the future is bright for Matrixswap
lastly
we have received a grant directly from the Polygon team
just a about a month ago

Cryptodiffer Community

Hi! 🧛‍♀️

When I visit the website of Matrixswap, Virtual AMM feature took my attention. Can you please explain what is it? How does it work and what are the benefits? What are the differences from the normal AMMs?

@josephliu03

Joseph Liu

Good question!
a virutal AMM operates similar to traditional AMMs
the difference is that the tokens virtual AMM are virtual
synthetic tokens
basically when a trader comes and trade
he can use leverage and turn $100 intro $1000 in position size
so you get more profit when the price moves
with traditional AMM, you can't do that.

Cryptodiffer Community

While you build your project, do you take into account community feedbacks and demands?

Joseph Liu

yes we take the community's voice very seriously
as a token holder of $MATRIX
you will have the ability to govern the protocol
as we will give governance functions to $MATRIX tokens
the token holders will be able to propose, vote and decide certain directions and decisions for the project
after all, we value decentralization and the power of community

Cryptodiffer Community

Matrixswap has a plan to educate the community, thereby raising awareness, applying and helping more people understand Matrixswap easily?

Joseph Liu

Definitely
we currently have a Matrixswap education program where every week we put out an education/ informative content
to allow more people understand our product and utilize its advantage

Cryptodiffer Community

❄️❄️❄️How is your DEX aggregator system different from other DEX aggregators used on other platforms? Why does MatrixSwap use Oracle and get price feeds?

Joseph Liu

Our DEX aggregator offers multi token swaps
imagine if you want to swap 10 tokens into UDSC
usually you'd need to probably go to 2 different DEXs
and execute 10 seperate transactions
with Matrixswap DEX aggregator, you can batch 10 tokens together
swap them all into USDC under one transaction
and you pay gas fees once
considering how volatile the crypto market is
time is literally money
I'm sure people will find this tool very helpful
besides that
we also will be offering single to multiple token swaps
so if you are bullish on a few coins
you can buy them all at once
limit orders, stop losses are coming in the future as well

Cryptodiffer Community

As Matrix token is ERC-20, & you said that it will be bridged at launch,
Actually how does it happen?

Joseph Liu

yes so we have an erc-20 token
mainly because ethereum seems to be the cross section for blockchains
at launch, users will be able to bridge from ethereum to polygon very easily via the polygon bridge
later on as we deploy our product to cardano blockchain, we will integrate an erc-20 token converter as well

Cryptodiffer Community

I understand that DEXs emerged to allow users to bypass centralized exchanges, which had become honeypots for hackers, unfortunately, most DEXs ain't user-friendly and lacked the marketing resources of their centralized cousins. To add to the friction, most tokens on these Ethereum-based exchanges were available in limited pairs. So if you wanted to trade token A for token B, you’d first have to swap token A to ETH and then swap your ETH to token B. Not exactly a seamless user experience. What do you think could be done to help address some of these challenges?

Joseph Liu

Matrixswap's mission is exactly to solve this problem
our DEX aggregator actually does not hold liquidity and does not take away custody
so on the security side, there's not much to "hack" into
we simply act as a smart router for users to 1. get the best pricing when swapping tokens and 2. perform multi token swaps
overall we are here to fill the gap of bad user experience in defi
we want our users to experience the best trading environment

Cryptodiffer Community

Do you have any Coin Burn / BuyBack systems or any $Token Burn plans to increase the value of Token & attract Investors to invest?

Joseph Liu

yes we will have an on-going token buyback system in place

Joseph Liu

for those of you that haven't joined our community, I invite you to join this journey with us
Our Twitter is https://twitter.com/matrixswap
Our telegram is https://t.me/matrixswapofficial
and, you can participate in our IDO on Cardstarter
https://twitter.com/matrixswap/status/1430555446775975938?s=21
thanks for having me!

Harper (CryptoDiffer)

Awesome. Thanks Joseph!
And thanks everyone who took part!

Joseph Liu

we will launch our beta testing program at the end of the month/ beginning of October!

Harper (CryptoDiffer)

u welcome😉👌🏾

Joseph Liu

thanks for participating, everyone!