ZeroSwap AMA with Chandrashekar Ramu and Aayushi Jain at t.me/amaroom
Eric: Welcome @chandrashekaram and @a17jain!
Thanks for taking the time out of your busy schedule to do an AMA with us.
Aayushi: Hi, @ERCSU Thanks for inviting me for the AMA.
Chandrashekar: Great to be here
Eric: May you please introduce yourselves to the AMA Room community?
Chandrashekar: Sure
Aayushi: I have worked in crypto for about 4 years, helped build up couple of projects, I got introduced to Bitcoin back in 2016. Since then this is my 24*7 work.
Chandrashekar: I have been a web developer + trader for the last 4 years. I used to trade on stock markets. Crypto trading happened naturally for us.
Eric: Well, I personally have always been a big supporter of women founders in crypto so Zeroswap was very interesting to me in that regard.
Ooh .interesting. What was your biggest stock trade win, which stock?
Chandrashekar: Don’t want to say, Tesla. LOL
Eric: hahaha. too mainstream
So tell us, what is Zeroswap and why is it awesome?
Chandrashekar: In India, reliance on stock is by default everyone’s fav choice.
I have had huge returns from RIL
Aayushi: Let me give you a brief of what is Zeroswap
Eric: that company is such an impressive story.
Eric: yes, please!
Aayushi: In simpler terms, ZeroSwap is a DEX Aggregator, it is multichain (ethereum and binance smart chain for now), all the trades processed will be at zero fee and in a gasless manner.
Eric: How does Zeroswap achieve zero fee / gasless?
Aayushi: Well, that is an interesting question, ZeroFee and Gasless are two different features.
1. Zero Fee — ZeroFee is a feature to save users money, we have many other ways to make the protocol self-sustainable. So we are not charging any fees from them.
Eric: How does it achieve that in concept?
Aayushi: 2. Gasless Transactions — We are raising in Ethereum, we will use a relayer for that, we will bootstrap the gas initially, later using transaction fee mining, we will make the transactions gasless.
Eric: So tell us, @chandrashekaram what is the state of the project? is the product working? when is the launch?
Chandrashekar: We have been working on a protocol for the last 3 months. Our protocol is is audit right now. We will launch it in phases, Staking, DTO, ZeroProtocol.
Eric: So tell us about the token, how does it play into all of this?
Chandrashekar: Staking will live this month. DTO has a dependency on staking. DTO is followed by Staking.
Eric: very good pace of development.
Chandrashekar: Token is an integral part of the protocol. For gasless txns we will achieve it though Transaction Fee Mining
Currently, On-Chain offering is bloated with bots.
DTO has a dependency of ZEE tokens staked to participate
No participant can write the bots on beforehand
Because all the params of DTO sale would be determined dynamically though an Oracle and Governance
Eric: Very interesting
You mentioned that this works on eth and bsc, any other blockchain in the plan?
Chandrashekar: Definitely Polka
Relayers and Galess txns aren’t a big deal on other chains for now as there is very less and less liquidity out there.
Solana SPL with Serrum is another BET
Eric: awesome. big fan of Polka
@a17jain Can you tell us about the upcoming listing and such. I understand the fundraising finished quite fast.
Aayushi: Yes, we are getting listed on CEXes and DEX is an obvious choice.
listing dates would be announced very soon.
Chandrashekar: Too much leaking here!
Eric: hahaha exclusive info!
Chandrashekar: Anyways, We are working relentlessly to make our listing a success.
We will announce all the info
Eric: @chandrashekaram What do you think about DEXs and their future?
Chandrashekar: DEXes has been a hot topic from the last couple of months. But still, there are so many issues with bots front running the trades on-chain etc.
The future is good in terms of DEX as on-chain liquidity is huge!
The biggest bottleneck is high gas prices and not enough tools for Market Making
Eric: agreed
Chandrashekar: Even though it’s called AMM, projects need Market Makers
Eric: @a17jain how big is the team now? are you guys hiring?
Aayushi: We have a team of 5 folks who work on Dev and 2 more for nontech work.
Yes we are hiring, if someone is really passionate about crypto and building the future of DEXes, then please email us at contact@zeroswap.io
Eric: We will now start the community questions phase. @chandrashekaram @a17jain please allow 2–3 minutes for questions to be posted. then answer at least 7 or answer all of them if you want. 🙂
Community AMA
Q: Zero Gas Fee & High Speed are great features for DEX but a lot are stuck with Uniswap because of its popularity and liquidity market. What are your plans to onboard users to ZeroSwap platform? Any liquidity mining plans?
A: We do have liquidity mining plans, we will reward users whenver they provide liquidity to existing AMMs, with regards to Uniswap, I have so much respect to them for building such a wonderful DEX. But everything takes time for traction, roam was not build in a day.
We beleive that if we provide a good experience of trading to our users then we will surely be able to build a good DEX.
Q: I have been watching you for a long time, answering one question after another with patience. How do you feel in such a situation?
A: Well, it is our duty as building the project, to answer queries of our community.
Q: What is the Binance Smart Chain And what are the main features of the Binance Smart Chain? can explain to those of us who don’t understand the Binanxe SmartChain. thank you.
A: Well BSC is another chain on which many companies are building products, similar to Ethereum, however, the most prominent feature is that it has very minimal gas fee, as compared to ETH, you can read in detail about Binance Smart Chain here — https://dex-bin.bnbstatic.com/static/Whitepaper_%20Binance%20Smart%20Chain.pdf
We decided to build on BSC becasue we wanted to integrate a chain, which has enough traction.
We see lot of new projects are buildingon BSC, and in terms of volume also, they are being positioned well.
Q: How will the ZeroSwap governance system work and can the community vote on its proposals in managing the Protocol? How will a unanimous governance mechanism be implemented?
A: Yes we will have governance mechanism, where community would be able to decide on lot of things.
Q: ZeroSwap uses Multichain. How is it different from Hybrid chain? How does it benefit ZeroSwap project? How does integrating with Binance Smart Chain enables high level performance of ZeroSwap network?
A: Multi chain and hybrid chain are different in a way that, multi chains are simply integrating multiple chains in one UX. Hybrid chains are built by mixing up multiple chains, and then building one chain out of it.
Q: How will the listing process in ZeroSwap and liquidity aggregation be? Will it change something with respect to protocols like Uniswap?
A: Liquidity aggregation is similar to how other DEXes are offering, since currently liquidity is fragmented at multiple places.
Q: You said we can make an on-chain trade or add/remove liquidity at ZERO Cost, so my question is where does the project makes it profit from? Do you have other business which you venture into?
A: We do have Utilities, from where we would get demand of ZEE tokens. We will be able to generate profits from our utilites.
Q: A lot of new protocols are springing up these days to solve the stumbling blocks associated with existing DEXes, how do you intend to stay competitive?
A: Indeed lot of protocols are coming up to solve the existing problems, but if we would be able to provide good value to users then we do not worry on competiton.
Q: Can you tell about the feature of zeroswap?
A: You can read about features in our lite paper = https://docsend.com/view/m4brpx32t73x5mkd
Closing Remarks
Eric: And thats a wrap! Thanks @a17jain and @chandrashekaram
Please invite everyone to your telegram and twitter for more info.
Aayushi: Thanks. Please Join Our Announcements Channel Here — https://t.me/ZeroSwap_ANN
Thanks for having us here @ERCSU
Eric: Good luck! I am personally quite confident Zeroswap will be one of the great projects in the DEX arena long term.
