01 Sep 202020:08
Avalaunch AMA Recap
Cryptodiffer TeamHello, everyone!😁
We are glad to meet here:
Tim, Product lead of O3 Swap
thanks for having me😊
Cryptodiffer TeamWelcome Tim, thank you for taking your time today!
Our team has prepared 3 questions for you to start with!
Let`s start with the introduction !
Q1: Can you introduce yourself to our community?
TimSure, I am Tim from O3 Labs, I am in charge of O3 Swap design with all our outstanding teammates. Before joining the O3 Labs, I completed my master degree in Netherlands and has been a project manager in a consultant company based in Hong Kong. Glad to e-meet you guys here and share our product with you🍻
Cryptodiffer TeamThank you Tim!
Let's now talk about your project:
Q2: Can you introduce O3 Swap to us?
TimO3 Swap is a proprietary cross-chain protocol that aggregates liquidity sources from various decentralized exchanges across chains. It is designed to let users exchange tokens in a permissionless manner with a single click. O3 Swap V1 will allow users to trade safely and simply across chains within the decentralized wallets. we are committed to providing a one-stop aggregation & exchange platform for users and offering developers access to an open, distributed, friendly, and secure trading environment.
here is our website, you can check it out. https://o3swap.com/
the last question from me before we start community questions round:
Q3: Let`s now talk about the milestones you have achieved so far and about your upcoming plans?
TimAt present, our official website is online and supports the cross-chain exchange of assets on Neo, Ethereum, BSC, and Heco for the public test. It can be run by connecting to Metamask and O3 Wallet. Our Litepaper V1 is also online. More detailed product information can be found in this link. https://docs.o3swap.com/
In the next step, the O3 token and economic model will be released in May. Transaction mining and other community incentives will be initiated soon. In Q4 this year, we plan to complete the deployment of the Layer2 network and launch DAO.
this is our roadmap👀
Cryptodiffer CommunityI read that the 03 tokens can be earned in 3 different ways which are through early participation in product testing and community, by using O3 Swap, and lastly by providing liquidity to cross-chain pools. However, this obtained 03 will be in a locked state, so can you tell how they can be unlocked and the primary benefits for the unlocked 03?
Timthis is great question I think many people would be care.
You can Unlocked O3 By providing liquidity with O3 trading pairs to main DEXs,The speed of providing liquidity to unlock O3 by the the formula. https://docs.o3swap.com/o3-swap-litepaper#3-8-unlock-o3
There are three primary benefits for the unlocked O3:
1. Member rights: Stake O3 to obtain interest and transaction discounts allocated by the O3 Swap treasury.
2. Community governance: Users can participate in community governance by staking O3 to initiate proposals, participate in voting, etc.
3. LP staking: Users can use O3 to synthesize liquidity equity proof (LP), which can be used for unlocking and mining.
On the other hand, all transaction fees from O3 Swap will regularly be used to buyback O3 in open markets, and distributed to O3 stakers and development committees in proportion.
Cryptodiffer CommunityHow do I take product testing?
how about security with our Fund??
TimCurrently we launch the trial version for public test and will release the testing detail soon. Continue to follow our blog for future updates. https://twitter.com/O3_Labs/status/1384498301538500613
For the security. We will get a professional organization to do a contract audit and introduce a vulnerability finding reward. Second, our cross-chain pool is deployed based on the Poly network protocol. At present, Poly has run more than 300 million USD, which is a mature cross-chain solution on the market.
Cryptodiffer Community1. Can you briefly discuss about 03 swap Development Committee, those that make up the committee, the role they play, and how the members of the committee are being selected?
2. What measures are in place to help promote the development of O3 Swap? How does 03 swap aim to incentivize community contributions?
TimThe Development Committee is mainly responsible for promoting the development of the project and the community construction. During the early stages, it will be composed of O3 Labs, community contributors, and representatives who have obtained the majority of votes. In the later stages, it will be completely elected by the community.
Cryptodiffer CommunityWhat is the plan to ensure sufficient liquidity on exchanges to fill market orders, especially as adoption increases and clients begin multiplying year-over-year for your project ?
TimI agree the liquidity is always the important issue in Defi. O3 Swap is aggregator meaning that we dont build our liquidity pool, instead, we aggregate the liquidity across blockchains and provide the best trading route and price to users
Cryptodiffer CommunityCollaboration and partnership are some of the most important platforms to help improve adoption. Can you tell us about current O3Labs partnerships, the plans for the partnership, and what people can gain from these partnerships?
TimWe are gracious and humbled by the support of these highly reputable and prestigious blockchain ventures. also we are now keeping cooperating with many high quality community in different regions. https://twitter.com/O3_Labs/status/1382674091769962501
Cryptodiffer CommunityYou stated in your medium that there has been an increased number of O3-related scams on various social media channels as you come closer to the official launch.
When is the official launch and when can we buy the token?
TimThis is really important to know. We HAVE NOT released any token yet. the public sale will be arranged in May! Always follow the official announcement !
Cryptodiffer CommunityStaking seem to be popular right now on many blockchain project. Can you please explain the detail about $ O3 staking plan and the benefits of adding “staking”?
TimStaking is the most important function in every Defi project nowadays. In O3 Swap you can staking in many different ways:
1. stake LP in our cross-chain pool to earn O3$.
2. Stake O3 trading pairs to unlock your O3 and mining.
3. Stake O3 to have a trading discount and get rewards.
Q1-Besides allowing the exchange between chains such as NEO, ETH, BSC and HECO, what will be the next supported chains? How will they expand?
Q2-What characteristics does your governance system have? What is unique and special about it?
TimIn the future, we are focus on high-quality sidechains and Layer2 networks, such as Solana, Polkadot, etc
Cryptodiffer Community🍎As I know there are two modules in O3 Swap. Can You tell us about the the exchange aggregators (O3 Aggregator) and cross-chain pool (O3 Hub)? What are their purpose in the O3 ecosystem?
TimThese are the two main function which let user complete the cross-chain exchange. O3 Aggregators are deployed on mainstream blockchains and help users find the most effective trading rates and routes in the corresponding network. O3 Hub provides users with cross-chain transaction services based on PolyNetwork and supports users to add liquidity by a single token from different chains to earn income.
Cryptodiffer CommunityMany swap platforms are beginning to emerge and the competition in the swap space is growing tremendously. And 03 SWAP is one of the features of 03 LABS. What has 03 LABS done differently to make sure that 03 SWAP is one of the top Swap platform available in the space?
TimThere are three competitive advantages of O3 Swap compared to other non-custodial exchanges on the market.
1, O3 is the first DeFi project to build a cross-chain trading pool (Hub). The pool will allow for the open exchange of major assets which span multiple blockchain networks, and provide a single token mining for multi-chain assets.
2, O3 combines with liquidity aggregation and trade mining, we will provide the best trading rate and routes for traders. At the same time, traders can also earn rewards from each transaction on O3 Swap.
3, O3 Swap has an innovative economic model where we will share the revenue from O3 Swap with O3 traders and stakers. It should attract more and more people to participate on our platform.
Cryptodiffer CommunityWhat is your plan for global expansion? At present, which market does O3Labs focus on, or is it focused on building and growing to gain customers, users and partners?
TimO3 Labs was established in Tokyo in 2017 and committed to providing professional digital asset management tools and services for 100,000 users in over 40 countries worldwide, with an O3 community of over 20,000 people in Japan, Europe, USA, Russia, Korea and China.
Now we have some ongoing activity for airdrop which also expect to expand our community and market:
1. Trail version test (the detail will release soon) https://twitter.com/O3_Labs/status/1384498301538500613
2. O3 Swap Video Campaign — Win Top Prize worth $2000!! https://twitter.com/O3_Labs/status/1381233292599459842
I think that's my answers today:)
Thanks for your time
Thank you to everyone who took part!