ZeroSwap AMA Transcript

"Access Multi-Chains with Zero Fee and Gasless Transactions."

By
BSCNews
on
December 1, 2021
Category:
AMA

Stephanie (BSC.News)

Hello everyone and welcome to the AMA with ZeroSwap! Today we have @imavericks from ZeroSwap joining us to talk about their exciting platform. Great to have you here Vivek!

Vivek Kumar

Hi Stephanie and hello to everyone out there who took out time for this session. 

It’s glad to be here. Looking forward to it.

Stephanie (BSC.News)

Great! So how this will work is, the AMA will consist of two rounds. The first round will be us going through the questions that I had prepared for you before hand. And then the second round will be a community round where I will open up the room to allow questions to come in. The second round is also where we will select the two winners of our giveaway

Vivek Kumar

Sounds great!

Stephanie (BSC.News)

Cool, so to kick things off, for those who may be unfamiliar...


1.Please introduce yourself and the team behind Zero Swap


Vivek Kumar

Sure! My name is Vivek Kumar and my prime focus at ZeroSwap is around the business in general but business development, partnerships & collaborations, product-market fit analysis, and growth opportunities assessment in specific. I have a total of 8 years of experience. On the academic front, I have done Masters in Business Administration.

From a team perspective, we are a very young, vibrant, multi-disciplinary, and competent team. We have got Chandrashekar Ramu (CEO), Aayushi Jain (COO), Puneet Bagewadi (CTO), and Sunny Rhode and Prajjwal together leading the marketing respectively. They all hold expertise and skills in consistently delivering and scaling projects. 

We all come from diverse backgrounds and with relevant industry experience thus making the wholesome team very rich and agile.

Stephanie (BSC.News)

Awesome! Thank you for the introduction, Vivek.


2. What is Zero Swap and what is ZeroSwap trying to accomplish in this project?


Vivek Kumar

ZeroSwap is a multi-chain compatible decentralized exchange aggregator focused on making zero-fee transactions possible. This capability has further been expanded with the acquisition of DeFi Wizard. The DeFi Wizard excels in providing Smart contract as a Service (SCAS) solutions.

When ZeroSwap and DeFi Wizard put together, we get:

— ZeeDO: Multi-chain compatible token launch platform

— ZeeDEX: Multi-chain compatible gasless liquidity aggregator platform

— SCAS: 

  — Token contract

  — Vesting contract

  — LP staking (Template + Custom)

  — Single side Staking

  — Bi-directional bridge

  — Automated token claim dashboard

The best place to get a detailed walkthrough about ZeroSwap -

Website URLs:

ZeroSwap:

DeFi Wizard:

Stephanie (BSC.News)

Very cool! For sure need to go check ZeeDo and ZeeDEX out asap!


3. How is ZeroSwap different from automated market maker based exchanges like Curve and Balancer?


Vivek Kumar

The formal name for ZeroSwap DEX, around which this question is focussed, is ZeeDEX. 

At the core, the fundamental difference between ZeeDEX and the likes of Curve/Balancer is that these are liquidity providers whereas ZeeDEX is a liquidity aggregator platform. What it means is that ZeeDEX doesn’t offer provision to add liquidity, rather it aggregates/pulls liquidity using 0X API from other AMM pools. 

At present ZeeDEX is integrated with BSC. Now, during the swapping, which DEX will be used for aggregation depends upon who is offering the best price to the user.

Secondly, users are not charged any fee i.e. the ZeeDEX offers gasless transactions. So, broadly speaking, the ZeeDEX differentiates itself in price discovery as it pulls the best price, is cost-effective because of zero-fee, and is convenient as it’s super easy to use.

Stephanie (BSC.News)

Thanks for the clarification and it definitely looks more convenient and easy!

Vivek Kumar

Yes. Members can try out here: https://exchange.zeroswap.io/swap

We have put in a lot of effort to simply the user journey and continue to do so.


4. Can you please explain how users can utilize ZeroSwap as a cost-savvy market-making suite?


Vivek Kumar

Sure.As outlined earlier ZeeDEX is not a liquidity provider rather a liquidity aggregator platform integrated with BSC as of now. So, there is no concept of AMM. 

However, having said that, it pulls the best price. So, that’s one benefit from a financial perspective. Add it with the gasless transaction which further amplifies the financial benefit. So, overall it’s a win-win proposition for users financially.

Stephanie (BSC.News)

Okay very cool!


5. What is $ZEE and how is it used on your platform?


Vivek Kumar

I will break it down as its going to be a little long because of the utilities it offers.

$ZEE is the native token of ZeroSwap. It is ERC20, BEP20, and Polygon compatible and comes with several utilities as outlined below:

— Accessing risk-free IDO deals: Users need to stake ZEE to participate in IDO at ZeeDO, the IDO platform of ZeroSwap. The IDO is a lottery system which means everyone has an equal probability of winning, therefore, eliminating biases. The brighter aspect to this is irrespective of if a user wins or not s/he will still earn 20% APY just for staking. At present, as we speak, ~29M ZEE is staked across BSC, ETH, and Polygon combined out of 63.4 M in supply, accounting for ~  46% staked.

— Accessing gasless transactions at ZeeDEX: Currently staking 1000 ZEE gives 10 free trades/day that translates to 300 free trades/month

— Product Testing: The users also get rewarded in the form of ZEE for testing our product. One of the recent examples is ZeeDEX testnet reward where users will be rewarded with ZEE. 

Reference:

— Rewards: We reward our community regularly just for holding ZEE with more weightage to early long-time holders. 

Reference:

— Upcoming Governance Module: ZeroSwap would be coming up with the largest multichain DAO which would shape up in such a way that chains can take feedback from ZeroSwap DAO to make changes to their functionality. ZeroSwap DAO will not only add value to both the internal feedback and improvements but also the DAO members can govern chains externally. $ZEX will be the governance token of ZeroSwap with a total supply of 1B and 50M ZEE will be airdropped in phases to ZEX holders. More details to be announced in coming times.

— Upcoming multi-chain farms: ZeroSwap will be launching multi-chain and ZEE will allow accessing those. More details to be announced.

Staking URL:

ZeeDEX URL: 

Little long i guess but considering its coverage I could not reduce it.

Stephanie (BSC.News)

No worries, they are all important!


6. How does gasless transaction work and how does it relate with transaction fee mining?


Vivek Kumar

At present ZeroSwap is paying for gas costs on behalf of users i.e. bootstrap and have kept 1000 ETH in reserve for this. 

Also, at later stages, we will push companies to bear the gas cost as users should not suffer because of this. In all possibilities, companies should be ready to do that as it reduces the barrier to entry, increases adoption, and thus overall customer experience and satisfaction. 

In parallel to this, we will have transaction fee mining which will generate ZEE tokens every time there is a trade. This ZEE reserve will be used for gas cost once the Eth in reserve gets over. 

So, considering overall factors the gasless transaction is going to be a fairly sustainable model.

Stephanie (BSC.News)

ZeroSwap is paying for gas costs on behalf of users! That’s awesome

Vivek Kumar

The idea is to put customers at the center and their convenience matters a lot, in fact, the most!


7. What kind of fundamental problems does Zeroswap solve?


Vivek Kumar

ZeroSwap is fundamentally trying to solve problems across interoperability, accessibility, and seamless user experience

— Interoperability: Seamless interaction among chains is one of the biggest barriers to entry for the mass adoption of blockchain applications today. To cater to this, the complete product suite of ZeroSwap and DeFi Wizard is multi-chain compatible. At present, we cover BSC, ETH, and Polyon. More chains will be integrated as we move along. 

-- Accessibility: Today, at ZeroSwap you can access a majority of utilities that are key essential for projects across their lifecycle in a single place itself viz. Exchange, IDO platform, Staking, and Bridge. On the DeFi Wizard side, you can access the complete Smart Contract as a Service (SCAS) solutions in one place. We have plans to merge DeFi Wizard and ZeroSwap that will further enhance the overall user accessibility 

-- Seamless user experience: From a bigger perspective, the vision is to create an ecosystem of multi-chain product portfolios essential to all projects across their lifecycle and that too all in a single place. What we are referring to is horizontal integration. In addition to this, a lot of effort has been made to provide a better UI/UX in terms of self-guided and easy-to-use.

Stephanie (BSC.News)

Wonderful!


8. How can a non-technical crypto trader and the person who is launching his or her own token offering can take advantage of ZeroSwap?


Vivek Kumar

— A trader can access the best price token pairs at zero cost

— A user who is participating in IDO gets risk free rewarded (20% APY reward at minimal) project deals

— Someone launching a token gets an unbiased, secure, and automated token launch platform. Club it with a large audience base and unmatched support system

Stephanie (BSC.News)

It definitely lowers the barrier and is helpful for non-technical crypto trader as well as crypto beginners.

Vivek Kumar

Correct. At least thats what the attempt is.


9. Is your platform audited? How can you ensure users that your platform is safe to use?


Vivek Kumar

Was expecting this 😏

Stephanie

haha yes! One of the most important questions

Vivek Kumar

So, yes, all the modules are audited as outlined below: 

ZeeDEX is audited by Zokyo with a score of 98 -

— ZEE Smart contracts are audited by Peckshield -

— Staking Contracts are audited by TechRate -

In addition to this, TechRate is also our official audit partner -

In addition to this, we have a dedicated QA team thus extensive regression testing goes behind. Community inputs and feedback also come into the picture. We also put in the best of our efforts to follow the best coding practices thereby trying to eliminate loopholes in the first place itself. Till date, there has not been a single malicious attack attempt and the reason for this is that security is of paramount importance at ZeroSwap.

Stephanie (BSC.News)

That’s awesome.  It’s a pretty extensive vetting process


10. Any exciting news you would like to announce here today?


Vivek Kumar

— Recently we announced the DAOLand IDO on ZeroSwap. 

Details:

— Apart from that, we will be announcing more chain integrations with ZeeDEX. Polygon is on the radar

— Overall, in the coming times, we will see developments around liquidity mining, thereby converting it to an in-house DEX platform, multichain farming, governance protocol, and mobile integrations, to name a significant few.

For more updates and latest updates:

— Follow TG Announcement channel:

— Join TG Chat group:

— Follow Twitter handle:

Hope I did justice with questions.

Stephanie (BSC.News)

Awesome! If you haven't already make sure to go and check out ZeroSwap everyone! Super exciting project that you don't want to miss out on :)



Tags:
BSCNews

Text Link

Lorem ipsum dolor sit amet, consectetur adipiscing elit. Suspendisse varius enim in eros elementum tristique. Duis cursus, mi quis viverra ornare, eros dolor interdum nulla, ut commodo diam libero vitae erat. Aenean faucibus nibh et justo cursus id rutrum lorem imperdiet. Nunc ut sem vitae risus tristique posuere.