AMA RECAP : CRYPTO CHALLENGERS x SWAY SOCIAL
Venue : CryptoChallengersD
Date : 10 FEB 2022
Time : 01:00 PM UTC.
Guest: Team
They shared detailed information and his opinions about the project SWAY SOCIAL.
🔴 SEGMENT 1 INTRODUCTION
1. Could you Guys please provide a quick self-introduction for the community?
Jure Z ⛓🚀:
Sure thing! My background is in tech, but I was super fortunate to jump into the NFT space as early as 2017. At the time of Crypto Kitties 🙂 We built the first dapp framwork for NFTs and even helped push the ERC-721 standard to production.
Now, a years ago I founded Clout.art that was the first minting and markeplace for social media NFTs. That later transitioned into Sway Social
But Sway is the rockstar here 🙂
2.Can you briefly introduce the project SWAY SOCIAL what are some of utlities of $SWAY ? How do you think you stand out among the competitors if there are any?
Jure Z ⛓🚀:
Sway Social is the first social protocol that uses NFTs to translate social capital into an asset class.
Our philosophy is built around the future of NFTs and metaverse.
Every building block in open metaverse (game item, avatar, collectible, social media post, land title, etc.) will be an NFT. Behind every NFT creator is a community that establishes the value of creator's social capital.
In traditional Web 2 social media platforms, the number of ‘Likes’ or ‘Followers’ is directly correlated to their earnings power. Creator is primarily valued by the number of followers he can engage with.
Sway introduces a web3 equivalent model where social capital is translated into an asset class. Instead of ‘following‘ a creator, participants can stake with their creator pool. Value is established based on the pool participation TVL.
Also — stakeholders are providing a social underwriting facility for creators through a subDAO.
So $SWAYs primary role is in helping establish the social capital in creator pools, by staking it. But there’s more utility in the back — also described in the whitepaper
3. Can you share the achievements the team has made so far? what are the major achievement target SWAY SOCIAL is yet to achieve . If possible also share your roadmap.
Jure Z ⛓🚀:
Definitely — Sway was created from our initial project Clout.art, so it is by itself a great achievment. Undestanding the value of it we had to decided at some point to continue building it as a standalone protocol instead of just a feature in a product.
But recently with Sway, we just launched the first generation Creator pools — https://creatorpools.live where you can already start staking with your favourite creators
If they decide to claim their pools later on, this means you would have a huge upside
At the moment we’re running a promotional fixed 222% APY campaign to get many people interested 😉
Re roadmap, we have this nice chart for 2022.
4) Could you share a bit about security and also what benefits you provide as incentives to users choosing your platform?
Jure Z ⛓🚀:
Yes. So we take security very seriously and work with multiple partners to audit all the smart contracts deployed. Currently we have over one third of supply locked in our creator pools smart contract so it’s important to keep that as a high priority.
I think the main reason to chose our platform is because of the opportunities we offer to both creators and followers.
Since the dawn of web 2.0 following someone didn’t really benefit you as a follower — did it? you keep on supporting your idols, but, apart from good content, really don’t get anything in return
NFTs can solve that, and Sway’s creator pools are perfect for this. Now creators get to share their revenue and you as a staker earn with that
It’s the shareconomy model of the future, and 100% metaverse-ready 🚀
5.Whats the total supply of the token ? Could you share a detailed tokenomics of mainnet token’s supply distribution
Jure Z ⛓🚀:
The total supply is 100M, however additional 100M tokens will get mined when the ecosystm starts to grow. We introduce a new concept called Adoption Mining, that does not release new tokens based on time, but based on the amount of new users on board — or more accurately, number of creator pools established
Our tokenomics are described in the whitepaper, but here’s an excerpt.
The token is live and trading since October 2021, but we’re just getting started. We plan to get more than 100k token holders by the end of this Q2.
🔵 SEGMENT2 TWITTER QUESTIONS.
1.So, do you have any plan for burning tokens in the future to reduce the supply of the token and increase its investment attractiveness?
Jure Z ⛓🚀:
No, burning is not planed, but we do have one of the most exciting staking programs. Staking is the new following!
2.Do the token holders have the right to participate in the governance of the project? What kind of, decisions can they vote on about the project
Jure Z ⛓🚀:
Yes, we aim the project to become organized as a DAO long-term, deciding on:
- Technology implementations
- Product and project partnerships
- Governance structure
A full DAO is established once the we have reached the protocol-market fit and have achieved the metacreator economy milestone on our roadmap.
3.Why $SWAY token is represented as social evolution of #WEB 3.O? Could you elaborate to us?
Jure Z ⛓🚀:
So this question boils down to how we see web2 will move into web3. Our solution captures value through stakeholders. In line with the transition from Web2 to Web3, the core mechanism is no longer built around read-write transfer of information, but around democratized transfer of value. The transition of social experience is represented via three layers: Content, Value and Currency.
So with web3, liked and follows will become stakes.
That is the evolution of social 🚀
4.What is your top 3 things for priorities in 2021? Could you share some plans for the upcoming year?
Jure Z ⛓🚀:
I’ve already shared the roadmap above, but just to pick out the 3 priorities:
1) Creator pools v1 — this is the core of the protocol we’re building
2) Bigger NFT markeplace partnership — this will really drive forward the Sway utility and adoption
3) Adoption mining — everyone is incentivised through this mechanism
5.Blockchain technology hasn’t even reached 1% of the global available market. What’s needed in order to bring the other 99% of people intothe space? So My question is What your team is doing to make Blockchain technology more adoptable and can use it globally?
Jure Z ⛓🚀:
That’s a great question. I think we are actively trying to find ways to get more peopl from mainstream involved. I think NFTs will be the catalys for bringing crypto mainstream and we have the best framework to allow creators succeed with their communities.
⚪ SEGMENT 3 TELEGRAM LIVE
Q1-M:
The questions:💥Staking programme is very important for any project, Can i stake your token? Do you have any plan of starting staking programme?
Jure Z ⛓🚀:
Yes, please visit https://creatorpools.live.
Q2-𝙎𝙥𝙖𝙢:
Where do You look project from 6 months from now, What if Bear Run starts from that time, how will it affect the Development?
Jure Z ⛓🚀:
#2
I actually think bear runs are when the best projects are built. The market really decides on the value of product not some hyped up marketing. So we see ourselves building 🙂
Q3-:
💥QQQ🔴
I want to buy your token. is it listed.#pancakeswap?
.#Binance
.#Kucoin
.#MEXC OR Any Exchangers.?
Where can I buy your tokens now.? Can you tell us please??
Jure Z ⛓🚀:
#3
We are currently listed on Gate.io and QuickSwap… but stay tuned as we launch on more chains and exchanges really soon! 🚀
Q4-megumin ☄️:
What is your strongest advantage that you think will make your team leading the market?
Jure Z ⛓🚀:
#4
That’s a good questions… I think we’re super strong with finding the real value on the market and to pivot. We’ve pivoted before and will keep listening to our users to find the best product-market fit.
Q5-Anna:
How can I join the pre-sale or IDO? What is extimated date Where can I buy your Tokens ?🌼🌼🌼
Jure Z ⛓🚀:
#5 (last)
That’s a great one 🙂 Our IDO was already done. We launched in Oct 7, 2021 — now we’re building and growing, so hop of to QuickSwap to get yourself some $SWAY 😉
Welcome new members — please join our Telegram as well t.me/swayprotocol 😄
Yes, this was a pleasure! Stay safe and make sure you don’t miss out on the future! Join us on this amazing journey and — SWAY ON! 🚀
