AMA RECAP : CRYPTO CHALLENGERS x METALSWAP
Venue : CryptoChallengersD
Date : 03 JUNE 2022
Time : 02:00 PM UTC.
Guest: MARCO BRAGLIA
They shared detailed information and his opinions about the project METALSWAP
SEGMENT 1 INTRODUCTION.
1. Could you Guys please provide a quick self-introduction for the community?
Sure! Hey everyone I am Marco Braglia, I’m the Project Manager of MetalSwap
Let me give you a quick intro to those of you who are not familiar with us.
MetalSwap is a decentralized platform that allows hedging swaps on financial markets with the aim of providing coverage to those who work with commodities and an investment opportunity for those who contribute to increase the shared liquidity of the project
Think of it as an “insurance” tool for large exchanges of raw materials such as metals
With the concept of an economic incentive, given by the distribution of the governance token ($XMT), the system will have publicly accessible pooled liquidity
Through a set of “smart contracts”, initially written on Ethereum, the contracts will make it possible to execute swaps without the need for the middle man at reduced costs and without time restrictions
2.Can you briefly introduce the project METALSWAP what are some of the utilities of $XMT ? How do you think you stand out among the competitors if there are any?
👉Our Main service will be the power to open commodity swaps without the common centralized Middle men
We also have many satellite-services, i.e. we’ll reward a direct Liquidity Providing for our Swapping pools
With our latest deployment over Polygon Network, we’re adding NFT features like UNIV3 NFT staking https://medium.com/metalswap/univ3-polygon-nft-staking-live-38dbd3f99530
and NFT #ALPHACLUB is going to be born during Q4: preorders are open!
⚡️As for our competitors, as of today we don’t have any competitor in the crypto ecosystem, so our best killer feature is the FIRST MOVER ADVANTAGE in the DeFi ecosystem bringing this kind of service
Our competitors are on the CeFi world and they are mainly three:
👉LME | London Metal Exchange
👉CME | Chicago Mercantile Exchange
👉SHFE | Shangai Futures Exchange
They’re the traditional monopoly of Commodity Swaps providers.
We’ll decentralize their service: this is just disruptive, don’t you think? 👏🤩
3. Can you share the achievements the team has made so far ? what are the major achievements that METALSWAP is yet to achieve . If possible also share your roadmap.
Gladly 😀 So far we have always managed to meet the deadlines set on our roadmap, we are very proud of our milestones achieved!
MetalSwap Team, [03-Jun-22 7:50 PM]
✅ 19/11/2021 IDO ETH ON UNISWAP V3
✅ 27/11/2021 STAKING POOLS 30/90/180/360 dd
✅ 11/12/2021 DAO POWERED ON
✅ 21/12/2021 IRON STAKING POOLS
✅ 29–31/12/2021 1st PROPOSAL DAO (SUCCEEDED)
✅ 07/01/2022 BSC BRIDGE & PANCAKESWAP IDO
✅ 18/01/2022 STAKING POOLS ON BSC
✅ 31/01/2022 SWAP CRYPTO ASSET TESTNET
✅ Q2 2022 XMT LANDED ON POLYGON
✅ Q2 2022 STAKING V3 NFT BUYBACK & POOL
But we aren’t stopping there… the next steps on our road map are
🎯 Q2 2022 AUDITS & CERTIFICATIONS
🎯 Q2 2022 SWAP CRYPTO ASSET MAINNET ETH
🎯 Q3 2022 CEX LISTING
🎯 Q3 2022 SWAP ON METAL COMMODITIES
🎯 Q4 2022 ALPHACLUB NFTs
4. Could you share a bit about security and also what benefits you provide to incentives users choosing your platform?
As previously mentioned, we have an Audit planned for our roadmap 🌍 and we are obviously working 🔨on that internally and later with external known Auditor companies.
✅Security is paramount to us, and until our Mainnet Release it will be part of our main focus.
MetalSwap’s greatest focus is on the security and functionality of its framework
This is precisely why in addition to having verified our Smart Contracts in several Open Test phases there is a marked Audit campaign planned with the help of external companies 👏
5. Could you tell us more about your Republic campaign? What goals are you aim to achieve there and what are the key benefits for early contributors?
🟢Our tokenomics is well structured and has broad shoulders: in the long term, knowledge of our platform will be widespread and $XMT will be increasingly in demand, both to use it and to participate in its governance.
You can find our detailed tokenomics in the white paper (https://www.metalswap.finance/assets/documents/whitepaper_metalswap_eng.pdf ) , or summarised on our Medium( https://medium.com/metalswap/token-overview-225434ac5ca ).
SEGMENT 2 TWITTER QUESTIONS.
1.In MetalSwap, All the relevant decisions about the future of the project are taken by a DAO. What will be the methodology or system that will be used to make important decisions regarding the overall ecosystem of the project? What Governance rights will the user have?
‼️XMT is a Governance Token so Every decision that the DAO will take, you too will be able to vote if you own your XMT👏, your voting power will depend on how much XMT you are holding or staking.
👉Everybody can create a Proposal and and let the DAO to Vote for deciding MetalSwap ‘s Future
✍️Our first proposal went live last year, giving us the aim to be a Multichain token!
👉In fact we’re currently live on 3 different chains: ETH, BNB & MATIC
2.I can see that MetalSwap is built on the Ethereum network, As we know ETH gas fees are very high & transaction speed is also decreasing, How will MetalSwap respond to this problem? And Will MetalSwap integrate other networks like BSC in solving this problem?
⭕️Ethereum is the most secure blockchain currently available therefore it was the obvious choice for us at Metalswap⭕️
At Metalswap we want to be inclusive and that is why as of today, we have launched the token on the BSC network in order to allow low-cap investors to be part of our project
✅We have already launched the token on the BNB network and to enable low-cap investors to participate in our project
Recently #XMT has also landed on the Polygon network
where in addition to finding very low transaction fees it also sees the birth of the incredible innovation of NFT Staking on Uniswap V3.
👉 Check-it out! https://app.metalswap.finance/#/nfts
👉UniSwap on ETH
👉PancakeSwap on BSC https://pancakeswap.finance/swap?inputCurrency=0x582c12b30f85162fa393e5dbe2573f9f601f9d91
👉 UniSwap on Polygon https://app.uniswap.org/#/swap?inputCurrency=0xadBe0eac80F955363f4Ff47B0f70189093908c04&chain=polygon
👉ACSI Finance on BNB Chain https://app.acsi.finance/#/trade/0xEeeeeEeeeEeEeeEeEeEeeEEEeeeeEeeeeeeeEEeE/0x582C12b30F85162Fa393e5DBe2573f9F601f9D91
3.MetalSwap recently announced that the $XMT token is available on #MATIC and bundled with USDC on Uniswap. What were the reasons behind your decision to adopt Polygon as part of your platform? What boost will this give to the $XMT market and liquidity?
The choice to go to Polygon was endorsed by our DAO when he voted on his first proposal:
Back to DeFi’s original vision (!)
As mentioned above, Ethereum-originated projects normally significantly expand their user base
⭕️These new users are mainly people who cannot use these protocols due to high transaction fees
🟢 DeFi is conceived as an open and inclusive financial system, so the implementation of BSC and other scaling solutions such as Polygon can be considered as a return to this original vision.
4.I Understand That “MetalSwap will reduce costs and enable decentralized commodity trading without intermediaries and without time limits”.
So, what products can I buy and sell on MetalSwap? What are the advantages of trading with MetalSwap?
‼️MetalSwap will be used for 👉 commodities swaps and ❌ not for buy and sell
it is used to have the insurance of commodity swaps over digital assets, in a DeFi manner
We are solving problems that are already being solved in centralized systems, so why solve them in DEFI? 👀
The benefits on choosing MetalSwap over a traditional CeFi solution are the following:
1. Minimized Costs 🚀
In MetalSwap there is no need for a middle man, it is entirely based on
blockchain technology through the use of smart contracts
2. The power is in your hand 🦾
Since there are no intermediaries, there is no need to trust anyone.
The funds are not entrusted to a third party, they remain available in your
wallet and you decide how to manage them
3. Decentralization of the system ⚙️
The issue of monopoly is overcome by MetalSwap’s intrinsic automatism and
by decentralized finance
4. No bank coverage needed! 👀
Bank coverage is no longer necessary, why?
👉MetalSwap solves this issue with a shared liquidity pool system, where
each participant (Liquidity Provider — LP) is rewarded for their contribution
through the provision of project governance tokens (XMT).
👉MetalSwap allows you to open hedge positions only if they can be
counter-guaranteed by liquidity pools
5. Market open 24/7 ⏰🌍
Unlike traditional offices with their constraining hours, MetalSwap is open 24
hours a day, 7 days a week 🔥
5.I notice created an innovative mechanism for obtaining NFT. But, given that overgrowth of these assets results in deflation and market collapse, how can maintain a balance between production and demand of NFTs to prevent these issues?
⚡️Now it’s possible for $XMT holders to stake their NFT coming from UNIV3 directly to our main app and get rewards in $XMT and $WMATIC !
So in these cases the NFTs represents pool’s liquidity and therefore there is no risk from market collapse.
We have another brand new NFT Collection: 👀
Our ALPHACLUB NFT is going to be deployed on MATIC’s chain to represent a Liquidity freezed over ETH! You can Pre Order now MetalSwap’s NFT By clicking the link.
to get a full-dive in it, check our Medium: https://medium.com/metalswap/metalswaps-alpha-club-nfts-fd0dff1f9bd0
And in this case the NFTs are backed by a certain amount of $XMT
So the least value that these NFTs is always covered by a precise amount of $XMT
This new kind of NFTs has never been seen before in DeFi! 🔥
👀 ALPHACLUB NFT tokens will:
👉 Represent locked up liquidity
And your NFT are returnable to receive your liquidity back
👉 Gives the opportunity to obtain bonuses/boosts
With it you’ll get a chance to boost your rewards over on MetalSwap’s platform
👉 Have a growing artistic value
And it will be exchangeable over different marketplaces
🔥⭕️4 ways to get $XMT, they are all through DeFi an are as follows:
👉UniSwap V3 Ethereum Chain
Thank you, it was a great pleasure! 🙌