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HawSwap x Satoshi Club AMA Recap from 7th of December

Hawswap is a new basic protocol for decentralized financial services based on Ethereum, used to build AMM decentralized exchange HawSwap, trustless auction platform HawLaunch & decentralized option insurance platform HawInsure.

The total reward pool was 1000$ and was divided into three parts. In this AMA Recap we will try to summarize some of the most interesting points for you.

PART 1, INTRODUCTION AND COMMUNITY QUESTIONS

Dust Lee: Hi everyone!Glad to meet you!

Mary | Satoshi Club: Hello, happy to see you here. How are you today?

Dust Lee: Thanks, great, exciting to be with Satoshi club and tomorrow is one of the big date of Hawswap.

Mary | Satoshi Club: Really? Could you please introduce yourself and tell us more about HawSwap project? And upcoming events, of course!

Dust Lee: Of course! HawSwap HAW is a capital efficient DeFi aggregation protocol, which you can think of as Sushi+Bot+Opyn+Aave. Our concept, which predates DeriSwap by a year, is also the concept of aggregation, but our products are already under contract audit. Hawswap will support LP and CDP swaps, zero — mortgage, passive option insurance and other black — tech. Our team worked with MakerDAO, so our technical skills are solid, that’s for sure. Currently, Hawsap’s Github code are open source.

Mary | Satoshi Club: Wow, it’s interesting

where can we see all info about team, I think I missed this info on your site) Can you share a link to your github with us?

D. | Satoshi Club: Great! and what will happen tomorrow?

Dust Lee: We will launch the first and the only round public offering at 20:00 on December 8, 2020

Public offering price: $150 / piece

Online time: 20:00 on December 15, 2020

Online price: $225 / piece

The details are here https://hawswap.medium.com/hawswap-presale-92fe111fab90

https://hawswap.medium.com/a-detailed-tutorial-for-participating-hawswap-presale-ed0701a25914

Mary | Satoshi Club: Oh, i am definitely not auditor

but i am sure, you already find someone who will audit your smartcontracts, right?

Dust Lee: Yep, definitely! I would like to say that ppl may think there are similarities on concepts between our project and Deriswap, but the biggest difference between us and Deriswap is that our design is more mature and started earlier.

D. | Satoshi Club: I’m personally don’t know anything about Deriswap.

Dust Lee: LOL, it just a concept proposed by AndreCronjue days ago, and then he starts various mergers and acquisitions and piecing together after that. Our Hawswap starts in 2018, and our producs prototypes and designs are repeatedly polished and validated.

I’ve been working in crypto industry since 2013, and I’ve always believed that everyone should allocate their cryptocurrency assets. I think the current situation is that the threshold of crypto currency is too high for ordinary people, full of rampant scammers and risks. So professional institutions are required to provide safe and reliable services. That’s when and why I start to work on HawSwap with my team. I launched the cryptocurrency quantitative fund KMFrog in April 2016, which has become one of the biggest traders of Huobi and OKex within 3 months after its establishment.

Mary | Satoshi Club: Yes, you are right, with your huge experience it’s possible.

Dust Lee: At KMFrog we are doing arbitrage between spot exchanges. The project in 2016–2017. So in a sense, yes.Yup, The clients of our fund include well-known cryptocurrency opinion leaders and executives of well-known companies in blockchain. My team and I are also one of the earliest teams to explore DeFi.

In 2018, the service team that reached cooperation with MakerDAO on single mortgage loan monitoring and management was also the first team that reached formal cooperation with MarkeDao.

Q1 from Telegram user @pandasbitcoins

Your pre-sale starts on December 8th. Is this the only sale you had or you will have more? Have you assured any investments from big capital groups?

Dust Lee: As I mentioned just now, this is the only public pre-sale of the HawSwap project, and all investors participate openly and fairly by contract, with no bias towards any capital or consortium. We don’t have any angel rounds, private sale rounds or pre-mining!

For this pre-sale, we will sell 30% of HAW tokens, a total of 7,500 HAW, with an initial price of $150. We are positioning our event on December 8 as DEFI Capital Efficiency Enhanced Revolution, and You are welcome to join in and grow with us!!!

Mary | Satoshi Club: What will you do with tokens which won’t be bought? I mean, if accidentally.

Dust Lee: Burn them, of course. But I am very confident because we have a very strong community and Chinese language market.

D. | Satoshi Club: Why so? there are no other options?

Dust Lee: Of course not, because we have to be responsible for our Holder, those who supports us in presale. I think it is in line with the market’s choice and expectation to reduce the supply in circulation in this way. Although our total number is small, only 25,000, but yes, for sure, we will burn those HAW we didn’t sold out.

Mary | Satoshi Club: Do you have Chinese tg group?

or another Chinese social media?

Dust Lee: Our Chinese community is very active. Even though we’re just starting out and we work with a lot of well-known Kols from Chinese market. People are worried about they will missing presale.

Mary | Satoshi Club: Great

Chinese market is really important.

Dust Lee: Yup, the talk these days is all about public offering. We have very well-known and solid community partners in our Chinese market. We have full confidence in this. We are ranked no.1 by a well-known community rating agency in Chinese market.

Q2 from Telegram user @prahenkris

The solution that your project comes with makes the trading process simpler and more accessible. It’s important to bear in mind though that apart from simplicity, the trust and reputation is very important. Can you tell us with what exchanges will your solution work, and if they are big exchanges, if you already have an agreement with them?

Dust Lee: Yes. Our project mainly focuses on solving the convenience of crypto asset users, especially value-added services and asset management services. Therefore, we will aggregate existing DeFi protocol and related projects. DeFi protocol basically have no access conditions, as long as the assets are delivered or converted in accordance with the protocol. In addition, we guarantee its credibility through open source code and transparent running on the chain. Thank you for your attention.

Mary | Satoshi Club: So, with which exchanges will you work?

Dust Lee: I think we can support either CEX or Sushiswap, Uniswap. If you mean that. but for now it is still under development, so we can’t give you exact answer yet, for example DEX, curve, uniswap, oasis, kybe.

Q3 from Telegram user @lionelos

HawSwap will use the optimization algorithm of virtual inventory to convert part of the arbitrage opportunities that originally occurred in the pool into the income of liquidity holders. What is the optimization algorithm of virtual inventory and how will this be applied for the pool and liquidity holders?

Dust Lee: Yes. We use virtual inventory to release inventory changes within a certain period of time through a decay algorithm, which will avoid the complete arbitrage of brick-moving robots, and the income obtained will be directly applied to all liquidity providers through the price. This is a relatively deep technical issue. Thank you for your attention and welcome to participate!

Mary | Satoshi Club: Also, i have a question, what does actuion model, mentioned on your website means?

I never heard the word ‘actuion’ or maybe there is a small mistake there?

D. | Satoshi Club: So HawSwap liquidity providers will be able to earn more? compared to LP on Uniswap, for instance?

Dust Lee: Yes. This is mainly to avoid people making losses like uniswap, which in turn means making more money.

You mention several times that your project is very fast. Since your infrastructure is built on Ethereum it depends on this blockchains technical limitations. Do you have a way to bypass these limitations and assure a better technical performance than that of the ETH?

Dust Lee: Yes. Our main project runs on Ethereum, which ensures that our project is open, transparent, simple and trustworthy. It also has some of the drawbacks of Ethereum. But we will try our best to think and design from the user’s point of view to open the product.

Further, we will continue our research and development of the Layer, including the use of the existing complete protocols and architectures to solve the performance problems of Ethereum applications more smoothly and perfectly.

Q5 from Telegram user @debrasnider

Although you have a tokenomics section and an article describing it, the exact % of how the tokens will be distributed are missing. Everyone knows that this part is extremely important, and can make or break a project’s future. What are the exact % of your token distribution and what are the locking periods for it?

Dust Lee: HawSwap reserves 50% of Tokens for generating in liquidity mining (hawswap), LP Token pledge loans (HawLoan), lossless or low-loss liquidity mining, and HawInsure option insurance business. Part of the commission and revenue generated by the entire system will be used to repurchase HAW, and the other part will participate in the governance of DAO. https://hawswap.medium.com/hawswap-presale-92fe111fab90

Q6 from Telegram user @juaniss

You speak of transparency of flow across the chain and private placement participation at the same time. Aren’t these 2 ones in contradiction?

Dust Lee: At present, a considerable number of cross-chains require trust institutions or tripartite vaults, which are both private and exclusive, as well as open and transparent. Such as WBTC and so on.

PART 2, TELEGRAM COMMUNITY LIVE QUESTIONS

The chat was open for 80 seconds; a lot of questions were posted by Satoshi Club community. Our guest chose some of them.

Q1 from Telegram User @JoxesXIII

Hawinsure allows us to place put and call options. Do you plan to add some kind of Hedge mechanism?

Dust Lee: Too many good questions. I’ve just been reading one by one and I’m flattered by your enthusiasm. Thank you for your attention and support to HAWswap.

Q2 from Telegram User @Idee01

Presale price: $150USD Uniswap Listing Price: $225

You’re promising investors a 50% returns. So, should we take your word for it? Why should my friends and I, whom are interested in your presale believe you?

Dust Lee: We have been exploring and studying defI for many years. Our goal is not just to focus on the present, our ultimate goal is to solve the problem of capital efficiency, so we will iterate step by step according to our design. The reason we listing price $ 225 was because we had a lot of faith in HawSwap and our team, and we had to give something back to the community that supported us. So you can trust us on that.

Q3 from Telegram User @Winterkom

How does HawSwap’s Virtual Inventory application benefit the Impermanent Loss? Can you explain us how this virtual inventory works?

Dust Lee: If the effects of inventory changes due to exchange are released over a period of time through attenuation or acceleration, it will compensate for the inefficiency of the price discovery mechanism caused by inventory changes that are too fast or too slow. It’s like a centralized trading platform that finds price efficiency through order books. There are many details in this question. For details, please refer to: https://hawswap.medium.com/hawswap-application-of-virtual-inventory-in-amm-cb0e18d08675

Q4 from Telegram User @NataliyaKil

The HAW token pre-sale will begin on December 8th. You represent that this presale is the only public sale of HawSwap and will not be followed by any sale or giveaway. Accordingly, will the bounty campaign, which began on November 27, be the only one? How will your users receive the HAW token in the future?

Dust Lee: The pre-sale at 8:00 p.m. on December 8th is the only financing plan of HawSwap. We do not have any angel rounds, private rounds or pre-mining history. This pre-sale will sell 30% OF $HAW token, a total of 7,500 $HAW will be sold out or burnt, with the initial price of $150. And after 7 days, on Dec 15, we will launch on uniswap with initial price of $225.

Q5 from Telegram User @Nickkiii

Regarding the Presale holding tomorrow, im a little bit confused, do you have step-by-step tutorial showing how to buy $HAW in the presale?

Dust Lee: Ok. This is probably a lot of confusion. Refer to this tutorial https://hawswap.medium.com/a-detailed-tutorial-for-participating-hawswap-presale-ed0701a25914

Q6 from Telegram User @lahkoklu

What features differentiate HawSwap from UniSwap. Are there any deadly or unique features that are different from other platforms, can you please tell me to switch to your platform?

Dust Lee: HawSwap has implemented atomic exchange services on the chain since 2018. Although there is SWAP, HawSwap is essentially a set of capital-efficiency enhanced aggregation protocols.It includes auction, exchange, liquidity mining, lending, options and other services and businesses.

That’s enough to make a difference. We protect or avoid clients’ free losses through hedging and other methods, and realize the protection of assets secured or locked in DeFi against huge price fluctuations through options. I believe this will be the reason why many people switch from UNiswap to HawSwap.

Q7 from Telegram User @PyaraLarka

How can i participate in your Pre-Sale on 8 December 2020 is there any requirements for Pre-sale?

Q8 from Telegram User @Amila19932

As a Swapping platform, I think you are planning to list HAWSWAP in Coinmarketcap and also in Coingecko, when are you planning to list Flaming Farm on these platforms? Because to attract investors on your swapping platform, you have to make trust on investors that HAWSWAP is not a scam project and will be a great Swapping platform in near future.

Dust Lee: We have made the application on the Coingecko platform. Since we have not launched uni yet, the review may take some time. But please rest assured that we will pass the review of Coingecko as soon as possible, and CoinMarket will also be synchronized.

Q9 from Telegram User @seen123

You said that the biggest difference between HawSwap and Deriswap are design and started earlier, but I think that it’s not enough to convince me. How about your features and products compare to DeriSwap?

Dust Lee: The article introduced by Deriswap mentioned Swap, Option, Loan, Future and their respective meanings and characteristics. And the relevant materials for the conversion of specific circulation mechanisms are also expected to be further exposed and disclosed. However, we all took into account the businesses of Swap, Option and Loan. These courses had many top items, such as Uniswap, dYdX, Compound, MakerDAO and recently, Hegic’s agitation. It should be said that these areas are relatively promising. Each project has different characteristics.

For example, Compound and MakerDAO, which are both loan business, but do not seem to form a simple and confrontational competitive relationship. Financial services have a great long-tail effect. For example, China Merchants Bank, which is generally considered to have excellent technical services, may not necessarily have an advantage over rural credit cooperatives in certain places and scenarios. On the contrary, according to the needs and pace of the market, promoting business that is beneficial to the interests of customers and solving customer problems is the real reason for occupying a place in the market.

How to improve capital efficiency is not only a problem that Andre Cronje considers, but also ours. The development of DeFi has been accompanied by great fluidity, which would be inefficient or inefficient if locked into LP Token. Generating new liquidity through pledge to smart contracts is a significant way to improve efficiency. In the traditional financial field, this is called “asset tokenization”. This is a fairly mature set of mechanisms and methods. We obtain “zero pledge” loans through Haw Loan. And it is very efficient to get universal stability currency such as USDT/USDC/DAI to increase the liquidity of assets.

HawSwap will introduce some concepts of PMM. We have a concept of virtual inventory, which is the application of a attenuation formula, that is to release the inventory changes to the actual value through the attenuation formula within a certain period of time.

Q10 from Telegram User @bulbul03

Users can switch Swap, Loan, Option and Auction functions at will on HawSwap platform, while liquidity providers can complete double or even triple mining operations with only one step operation, and experience products with efficient capital integration such as passive insurance, zero mortgage lending and Auction. This all are for future. But when will you want Start all of this features? Specially i want to know about Loan system and Gas fee. Uniswap need high gas fee for Swapping token. Even already started ETH 2.0 updating. So can we expect low gas fee or zero gas fee for swapping token on HAWSWAP?

Dust Lee: 1. Because HawSwap is a commitment to capital efficiency enhanced aggregation protocol, so we will stand in the user’s perspective to design a product, especially a variety of products gathered at the platform of intelligent contract, that will do less unnecessary transfer and delivery, improve operational efficiency, this in the etheric fang network congestion and expensive now seem to be very rare.

2. The issue of lowering transaction gas fees is a common problem with the Ethereum network. We actively follow up relevant progress with mature technologies and protocols. Please stay tuned to our community and official website for the launch dates of these products.

PART 3, QUIZ AND INFO

As usual, for the third part, Satoshi Club Team asked the chat 4 questions about HawSwap. A link to a Quiz form was sent into the chat. Participants had 10 minutes to answer. 700$ were distributed between the winners.

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HawSwap x Satoshi Club AMA Recap from 7th of December

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