Here’s our 70th AMA recap!
Thank you to the Infinity Chain for participating in Ask Me Anything (AMA) with GramSwap on April 25, 2021. This guest star,
- Kopy Matthias — CEO
Introduction
Koby Mathias (wont ask for funds),
Yes I’m koby Matthias, CEO and lead developer of the GRAMSWAP initiative, I hail from Australia Sydney to be precise and hole a degree in IT, computer engineering and schematics
Been in the crypto industry for about four years and will definitely say it’s been a bitter sweet experience
Starting out, can you please provide us with a simple description of GRAMSWAP ?Koby Mathias (wont ask for funds),
Gramswap is a decentralized (DEX) automated market making (AMM) exchange currently on the Binance Smart Chain blockchain. We are a community-managed project that is governed by the community’s vote for all major changes. Gramswap coin $GMS is developed on the binance smart chain in the first instance, for regulatory reasons, we will launch the Decentralized Exchange where there will be no direct involvement with fiat currencies, that is, all transactions will be crypto-to-crypto through BEP-20 Tokens, as it is obvious that decentralized exchanges carry out transactions strictly via peer to smart contract method, Gramswap aims at producing a decentralized exchange which incorporates lower fees and other strategic use cases which includes staking, deflationary, yield farming, liquidity pool providing.
The $GMS token is a deflationary token which reduces in quantity by 3% of every transactions done
Gramswap is the next generation of Automated Market Maker (AMM), Staking, Yield Farming, IDO, and offers online NFTs on the Binance Smart Chain. Gramswap possesses the ability of staking, creation of adequate yieldfarm, pools
Gramswap is dedicated to systematically produce new Defi products with the team acting as an ad-hoc enabled squad who will help develop, market and launch these Defi products to help grow its biosphere while simultaneously delivering desirable gains to the community, project and users.
What are the Business Objectives, Market and Target audience of GRAMSWAP ?Koby Mathias (wont ask for funds),
Alright
GramSwap has got some unique business objectives, if you look at our usecase, you’d understand that we have targeted a very specific issue on the defi industry
That’s why we are creating a Decentralised exchange with a very low fees. Also we have incorporated the decentralisation effect of DEX which uses an automated market marker with some uniqueness of the traditional order book system that uses the peer to peer system, our main aim is to add some more fluidity at transaction, which will reduce losses, reduce transaction fees too.
Now definitely we aim at exposing our platform to everyone in the defi industry.. the defi industry is worth billions and definitely there’s a lot of space for getting an overview
How do you assure us of the benefits, safety and transparency of GRAMSWAP ? How can you be the best solution than any other projects ?Koby Mathias (wont ask for funds),
GramSwap have got beautiful features these features are known to definitely ensure stability of our tokens, growth of our tokens and greater adoption of $GMS. if you look at our roadmap which we have set up, you’d understand that it’s been judiciously being followed,
We also have a working product that’s actually being built and worked on..even before the presale activity, some of these features should definitely let us know that we mean business.
We have also audited our contracts to take away and ensure that there are zero bugs that may cause issues, our smart contracts are also very open and verified too
How can you balance between developing a platform and adding value to your product? Can you explain about the tokenomics and use-cases of $GMS token?Koby Mathias (wont ask for funds),
I’ll give an insight on our usecase now
Gramswap aims at developing its ecosystem around its various use cases which can add intrinsic values to it to enable growth, stability, and longterm scarcity,Aimed at crypto users, some of its products will support high yield farming and much more.
Decentralised exchange: Gramswap would own or contain a decentralized exchange, which makes use of an automated market maker (AMM) that allow digital assets to be traded without permission and automatically by using liquidity pools instead of a traditional market of buyers and sellers.
We will have a liquidity pool section on GramSwap for those who want to provide liquidity and make passive income with yield farming on GramSwap by staking liquidity pool tokens. We welcome all the community to be a liquidity provider. GramSwap pools allow you to provide liquidity by adding your tokens to liquidity pools or “LPs”.When you add your tokens to a liquidity pool (LP), you will receive liquidity provider tokens.
The liquidity mining of GMS occurs when a yield farming participant earns GMS token rewards as additional compensation of the transaction fees.
GramSwap will also offer an option to participate in the exchange of collectibles on the platform. We will have a section for non-fungible tokens (NFT) that users can trade for GMS. Early presale adopters will collect NFTs for free once there is a minimum purchase of 5BNB worth of GMS.
Above our tokenomics
Can you tell us a little about GRAMSWAP roadmap going forward, how do you plan get more adoption?Koby Mathias (wont ask for funds),
Sending our roadmaps here, we have judiciously followed it and are building our platform around it
ROADMAP FOR THE GRAMSWAP EXPERIENCE
Q1–2021 — RECRUITMENT OF TEAM, BRAINSTORMING
BUILD THE GRAMSWAP ECOSYSTEM, ITS DEVELOPMENT
Q2- 2021- LAUNCH OF THE GRAMSWAP WEBSITE, PROMOTIONAL ACTIVITIES
MARKETING, PRESALE,LAUNCH OF GRAMSWAP DAPPS, CONTEST, AUDIT BY TECHRATE
Q3 2021; LISTING IN MAJOR DEX
DEPLOYMENT OF THE DEX, SECOND MARKETING, ECOSYSTEM GROWTH
Q4- 2021: LAUNCH OF FARMING POOLS VERSION 2
FUTURE PLANS- MAJOR UPDATE, DETERMINED BY DEVS, HOLDERS
TWITTER QUESTIONS
From : rujroyatiWhat is your strategy for building a strong community? Do you agree that the power of the community will lead your project to develop globally? What services do you provide to the community?
Koby Mathias (wont ask for funds),
Yes first of, we are a COMMUNITY driven platform, every suggestion of our community, we have incorporated in creating our platform. There also exists a governance feature in which members and holders s can vote on any decision to be made
The power of the community can never be over emphasized and thus is the reason we have ensured that as a community oriented platform we carry everyone along
From : quangkapSmart contracts are vulnerable to bugs, and even recently three big new DeFi projects were victims of this, costing users funds. How efficient and secured is your smart contract, and did you ever audit it via any external party?
Koby Mathias (wont ask for funds),
GramSwap was built by one of the most sophisticated and intelligent developers, we have first audited our contracts to ensure that there are no bugs and viruses, we have also ensured that we are https secured, ensuring that there are no issues.. when we launch also, we would begin a bug bounty which would ensure that any bug is discovered
Our audit partner techrate are currently carrying out audit of our platform atm
From : lequthuNFT is considered to be the next crypto industry trend after DeFi. Can you share your opinion on the NFT? Where do you see the future evolution of NFT’s features and capabilities in the coming years?
Koby Mathias (wont ask for funds),
NFTs remain one of the fundamental features ofgramswap.. Non-fungible tokens (NFTs), which are exclusive collectible cryptocurrency assets, already existed in 2012 when the concept of colorful Bitcoin coins first emerged. These coins were simply satoshis — small fractions of a bitcoin — marked or “colored” with distinct information that could link the coins to real-world assets. NFTs have become one of the hottest cryptocurrency trends of 2021, with global sales of up to 55% since 2020, rising from $ 250 million to $ 389 million. NFTs can be used to represent virtually any type of real or intangible item, including:
• Work of art;
• Virtual items in video games, such as skins, virtual currency, weapons, and avatars
• Song;
• Collectibles (for example, digital business cards);
• Tokenized real-world assets, from real estate and cars to racehorses and designer sneakers; • Virtual land;
Video footage of iconic sporting moments. GramSwap will also offer an option to participate in the exchange of collectibles on the platform. We will have a section for non-fungible tokens (NFT) that users can trade for GMS. Early presale adopters will collect NFTs for free.
NFT’s are sure to evolve rightly overtime as they have done before.. in DEFI, these online collectibles are pretty much important
From : PolathannKocCurrently, token burning makes tokens scarce. Does #GRAMSWAP burn tokens as much as 3% to stabilize rewards and create a limited supply with high demand? And does it have to be in every transaction?
Koby Mathias (wont ask for funds),
The initial emission rate is 6 GMS per block. And the emission
rate will be reduced by 3% every 864,000 blocks (~30 days).
Unlike other yield farms where developers manually reduce
emission rates according to their own wishes, our emission rate
reduction logic is coded in the smart contract and will be exe-
cuted once updateEmissionRate is called every 30 days.
This mechanism will greatly reduce the total supply and make
our token rarer and help make GMS more valuable to hold.
From : benzencloHow do you think the GRAMSWAP case team can overcome all the regulations that countries have? Do you plan to cover the whole market or focus only on a certain group of countries?
Koby Mathias (wont ask for funds),
As an individual and a group,we love to maintain the rule of law in every country and as such we will do everything within our legal means to promote our project and increase adoption. Whilst we will focus majorly on the online sphere,we also would want to create a real impression and spread across every where
TELEGRAM QUESTIONS
From : @Cosp97Smart contracts are the head of any project that works with Blockchain, what are the contracts GRAMSWAP has and can you tell us if they’re audited?
Koby Mathias (wont ask for funds),
GramSwap was built by one of the most sophisticated and intelligent developers, we have first audited our contracts to ensure that there are no bugs and viruses, we have also ensured that we are https secured, ensuring that there are no issues.. when we launch also, we would begin a bug bounty which would ensure that any bug is discovered
Our audit partner techrate are currently carrying out audit of our platform atm
From : @King_MuajDo you have any plan for building Nfts into your eco system because that is the hottest topic on crypto space?
Koby Mathias (wont ask for funds),
NFTs remain one of the fundamental features ofgramswap.. Non-fungible tokens (NFTs), which are exclusive collectible cryptocurrency assets, already existed in 2012 when the concept of colorful Bitcoin coins first emerged. These coins were simply satoshis — small fractions of a bitcoin — marked or “colored” with distinct information that could link the coins to real-world assets. NFTs have become one of the hottest cryptocurrency trends of 2021, with global sales of up to 55% since 2020, rising from $ 250 million to $ 389 million. NFTs can be used to represent virtually any type of real or intangible item, including:
• Work of art;
• Virtual items in video games, such as skins, virtual currency, weapons, and avatars
• Song;
• Collectibles (for example, digital business cards);
• Tokenized real-world assets, from real estate and cars to racehorses and designer sneakers; • Virtual land;
Video footage of iconic sporting moments. GramSwap will also offer an option to participate in the exchange of collectibles on the platform. We will have a section for non-fungible tokens (NFT) that users can trade for GMS. Early presale adopters will collect NFTs for free.
NFT’s are sure to evolve rightly overtime as they have done before.. in DEFI, these online collectibles are pretty much important
From : @resa46Your project has great features. There must be an experienced team behind. Can you tell some about your team and their experiences in the market?’
Koby Mathias (wont ask for funds),
As earlier explained,Yes I’m koby Matthias, CEO and lead developer of the GRAMSWAP initiative, I hail from Australia Sydney to be precise and hole a degree in IT, computer engineering and schematics
Been in the crypto industry for about four years and will definitely say it’s been a bitter sweet experience.
Definitely, the team are a very experienced team from different walks of life, they have got great personality experience and knowledge
From : @Luckyboy09What has not been done in this project and would like to do in the future?
Koby Mathias (wont ask for funds),
Well we have a roadmap that we have created and hope to follow, we have a working program that we are carrying out, after production and launch of our DAPP, we aim at producing other products
From : @Shahriar_Shanto55How do you plan to show the world that your product is not just useless blockchain solution to a non-existing problem?
Koby Mathias (wont ask for funds),
Because the problems are not non existent.the problems are obvious.. there are definitely issues of high transaction fees, which definitely diminishes trading sequence, thus the reason we are creating our own DAPP to combat this
- Telegram : https://t.me/gramswapgroup
- Telegram Channel : https://t.me/gramswapannouncement
- Twitter : https://twitter.com/gramswap
- Website : http://www.gramswap.io
- Medium : http://gramswap.medium.com/
- Whitepaper : https://drive.google.com/file/d/10P4TFt1B4Nhsn31VOJsp-UX43TPmcV7x/view?usp=drivesdk
Thank you for trusting Infinity Chain as the organizer of the event today, hopefully everyone can understand about Gram Swap.
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