Here’s our 118th AMA recap!
Thank you to the Infinity Chain for participating in Ask Me Anything (AMA) with LuxurySwap August 27, 2021. This guest star,
- Adam — Founder
Introduction
Adam :
Please call me Adam, I’m the founder of Luxuryswap. Today’s AMA is a very important event for me and my team because we hope to show you the project we currently have through today’s AMA and we also hope to show you our next step.
I attach great importance to today’s AMA event and hope that by the end of today, you will have a better understanding about Luxuryswap.
QUESTIONS MODERATOR
Starting with the very basics, can you provide a simple description LuxurySwap for our community?Adam :
First of all, the most basic, Luxuryswap is an decentralized project on Binance Smart Chain.
We hope to provide our investors with a convenient platform, which includes yield farming, NFT, and swap.
We hope that by constantly bring more use case to LUX tokens, we can create a perfect ecosystem in the future
You can tell from our name, we are trying to build a DEX platform but we need something more than a DEX.
Luxuryswap will not stay a platform that only hold DEX and swap functions.
What are the advantages of LuxurySwap that make it special?Adam :
You can see there is transaction fees on different DEX such as pancakeswap, Uniswap or Sushiswap.
The most transaction fees is used to reward the LP owner, the liquidity provider. In order to generate more liquidity on DEX, it’s the great mechanism I can give you that.
In Luxuryswap, we like to make a bit innovation, like I mentioned before, the platform also owned NFT card collection. The fees from NFT and swap will be used for LUX token buy back.
As long as the LUX, the platform token remain stable or keep pumping, more investors will willing to hold it for long term.
I believe it can be the different strategy to generate more liquidity to the project instead of direct reward the Liquidity provider with swap fees.
How do you assure us of the benefits, safety and transparency of LuxurySwap?Adam :
Every investors care about their asset safety and invest return rate. It’s very important issue and we are happy to explain it.
First of all, before we start our project, we have checked every detail in our code, and keep updated, fixing bug, improve the user experience, etc name it. This take us 5 weeks to finish the source code, and we submit the source code for auditing the moment we finished it.
Every investors need a safe environment to start their invest, no matter the amount is big or small, safety is all that matters.
Again, like I mentioned before, the platform is not just a swap platform, we have given many use case to LUX token.
What make us proud most is the NFT collection.
Even the features is still not available yet, but I can’t wait to share it! Cause it’s absolutely amazing!
Oh, by the way, the 90% profit from NFT blind box will be used for the LUX token buy back.
With the trend of NFT, I can see the great volume lux NFT can bring us and the buy back fee!
Can you explain about the tokenomics and use-cases of LUX token ?Adam :
Gladly, let’s start with LUX. The total supply is 100 million, no inflationary at all. We add 10 million as initial liquidity in the first place.
We take 100000 LUX as the first batch of airdrop, and there will be more airdrop in the second batch.
By the way the first batch airdrop is still going on until the genesis end, if you like it, make sure you claim it from our official website.
The genesis last for 15 days, during genesis yield farming, 1.5 million LUX were minted every 24 hours.
We are also ready for NFT blind box, the first batch is 10000 boxes, we put a $10 price tag on it.
The second batch boxes have the same amount 10000, but the price will goes to $20.
The blind box can open for different NFT collection.
Now is time to show you guys the goods.
5 different level, the higher level means more value.
What are the major milestones LuxurySwap achieved so far and what are in future pipeline?Adam :
The luxury yield farming is going smoothly, which can generate more liquidity to luxuryswap.
But we don’t take the yield farming as a milestone to us, cause we mainly focused on NFT in the future.
NFT is going crazy beyond crypto nowadays, on ethereum network, the NFT trading volume is even above the Uniswap trading volume.
That’s why we take Luxury NFT very seriously and it is our priority. Cause the luxury NFT can bring more liquidity and trading volume to Luxuryswap platform.
What we used to focused on, whatever we are currently focused on, it’s all goes to the same direction- make an easy access platform to our investors, and bring a stable, suitable investment environment in DeFi.
QUESTIONS TWITTER
Adam :
It’s true, and the impermanent loss is very hard to avoid, it’s happening from all the dex platform.
Even through we can 100% avoid the loss risk, we can still take different measures to cover the risk.
I have mentioned before, even we don’t take all the swap fees to reward the liquidity provider, but the liquidity provider can still receive certain amount of reward.
Also the liquidity provider don’t have to hold the LP token in your pocket waiting for a bit swap fee reward, the luxuryswap yield farming is going great.
The liquidity provider are able to receive great invest return from liquidity farming.
My question is related to the NFT airdrop “after genesis, each 2000+ LUX holder will airdrop with blind box” , what kind of stuff holders can expect from the blind box? Is it exclusive or there are other ways to obtain the blind box!??https://twitter.com/V8Quang/status/1430911193485484036?s=19
Adam :
We would like to update some information regarding the NFT blind box airdrop.
The 40000 LUX holder are able to receive 1 blind box airdrop.
No matter the LUX is in your wallet or staked on the farm, 40000 lux token = 1 blind box airdrop.
And that’s the final rules for blind box airdrop.
Every time the blind box opened, there will be a random NFT card to collect.
The most common NFT, Level 1, Armani. 50% possibility
Level 2 Lux NFT, Cartier, 35% possibility
Level 3 Lux NFT, Hermes, 12% possibility
The Level 4 Lux NFT, PATEK PHILIPPE, Very rare, with only a 2.5% possibility
The most Lux NFT named Rolls Royce, Epic NFT in Lux NFT collection. Only 0.5% possibility.
There goes, all the possibilities to all the NFT collections.
Can you explain in more detail about the NFT Lux named Rolls Royce, Epic NFT in the Lux NFT collection? And what are the differences between each of these collections?https://twitter.com/themiracleboy0/status/1430989713318440963?s=19
Adam :
The different NFT name represent the different NFT collection. Rolls Royce is the most epic NFT above all the collections.
Since the possibility of Rolls Royce is only 0.5%, the rare make it valuable.
We have created different use case for the NFT card as well.
First of all, you can directly sold your collection the minute you receive it. Bakeryswap is a good place to sold, and we will consider opening our very own NFT market in the future.
Since the NFT can bring great trading volume, maybe we can start the NFT market bit sooner.
The different NFT not just different with their name, the functions as well.
The NFT farming is trending as we speak, so the luxury NFT farming will be available soon after NFT listed.
The most valuable NFT collection can generate more profit in luxury NFT farming.
I commend your project for giving away a lot of LUX token to the community through Airdrop campaign. What am worried about is how you will prevent huge market dump of this free token when trading goes fully live causing price to dump hard?https://twitter.com/Iec_Ghram/status/1430910017654329350?s=19
Adam :
There is pro and con when it comes to airdrop, people always like airdrop and willing to receive it.
But after holding certain amount of LUX token, the investors have to worry about the value of their asset.
So far the airdrop campaign is going great, it can attract a lots of investors. Unlike many other projects, what we are offering in luxuryswap is much valuable, and a little airdrop won’t bring the big dump.
So the Luxury airdrop will continue going, we will keep host more airdrop events to bring luxuryswap to more investors.
Cause I’m sure a lots of people can’t get their eyes off Luxuryswap the minute they saw it.
In conclusion, keep airdrop going, keep Luxuryswap great!
Can you tell us about the strategic partnerships that LuxurySwap maintains and the future partnerships that you have to announce?https://twitter.com/rapadict_/status/1431098933032493056?s=19
Adam :
I saw lots of project are partnering with wallet dapp, such as trust wallet, math wallet.
It’s the great platform that can bring great exposure, so our future partnership will be with wallet app.
I understand we are not millions liquidity or TVL project so it won’t be easy to list on trust wallet right away.
But we are already start negotiating with some wallet application that not well known to the public.
The more details will be public soon, please stay tuned, and we will keep you updated.
QUESTIONS TELEGRAM
Developing a project, of course, requires a very large amount of funds. Is your team financially able to carry out this project?and Do you have sufficient funds for its development. Can you tell us how your project is profitable? And also for us investors?Is there any technical issue or challenge you have faced before, can you tell us how you solve or overcome it?Adam :
Yes it’s very costly to start an project, but don’t worry about it, we are perfectly financial taking care off. Another thing is we don’t really need to put millions of dollars in luxuryswap while we just started, we create the platform for our investors first, after the liquidity was generated, we can keep invest more fund into our project.
Currently, NFT is very hot, do you think you will apply NFT technology to your products in the future?Adam :
That’s what I’m keeping saying, NFT is awesome and we are working 24/7(not literally) to bring NFT to luxuryswap. Not only it can generate great volume, also can be the milestone for our team, our community, our project.
Does your Project have a marketing strategy to expand on social networks to reach more Investors and your Project community? And how will you handle it? How important is community support for the $your Project project?Adam :
I believe the good project speak for himself, so before we spread the awareness, we need to make Luxuryswap faultless, make sure every investor will falling for Luxury the minute they lay their eyes on Luxuryswap. Second, the partnership is important to us as well. We can moon by ourselves, we need more help from others, such as community or dapp.
Can you list 1–3 killer features of your project that makes it ahead of competitors? What is the competitive advantanges your platform has that you feel most confident about??Adam :
Low fees, profitable, muti features. That’s what make us special and with that we can top our competitors. We just need to doing more promotion work and partnership building.
Community support is one of the biggest aspects of a project’s success. Most projects have programs that interact with their users. Does you have any special plans to attract and expand the community and improve the user experience?Adam :
The great project need great community support that’s the fact no one can deny. Like we discussed before, the good project speak for himself, that’s why we need to focus on the user experience and project features. We will keep updated the project info, make sure you are part of the group to keep yourself updated.
- Telegram Chat : https://t.me/LuxuryswapGroup
- Twitter : https://twitter.com/LuxurySwapLab
- Website : http://Luxuryswap.finance
- Medium : https://medium.com/@LuxurySwap
Thank you for trusting Infinity Chain as the organizer of the event today, hopefully everyone can understand about LuxurySwap.
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