AMA Recap with ZeroSwap — June 29th, 2021
On Tuesday, 29th June 2021 2 PM UTC, Zeroswap Team came to the DeFi Wizard community for an exclusive Ask Me Anything (AMA) session. The Panel included Chandrashekar (Zeroswap CEO), Aayushi (Zeroswap COO), Vivek (Zeroswap CBO). The primary focus of this discussion was around ‘DeFi Wizard and its business development updates’. Even though the team has been preoccupied with the full integration of DeFi Wizard and Zeroswap, they also wanted to come forward and update the community about their plans.
For those who missed the LIVE AMA, we’ve created a recap of it here.
For your convenience, we’ve gathered all questions and answers given during this event below. Minor edits were made for clarity.
Segment 1: Host questions
[Vee Fernandes] Hello everyone, let’s welcome Zeroswap team for this anticipated AMA.
I know everyone is excited to hear from the team on these latest updates since the acquisition but please allow me to introduce the format for this AMA before we start.
This chat will be muted for the duration of this AMA and we do apologise for any inconvenience.
AMA will be conducted in 2 Rounds,
1. Frequent and Introductory questions.
2. Followed by community questions.
Let’s begin…
[Vee Fernandes] I am certain that everyone knows the team by now, but could you please introduce yourself to the community for any new members around?
[Aayushi Jain] I am Aayushi From ZeroSwap. I look after the operations of DeFi Wizard and ZeroSwap.
[Vivek Kumar] Hi Everyone, My name is Vivek Kumar recently joined ZeroSwap and DeFi Wizard as CBO. Prior to this, I was co-founder of Rage.Fan serving in the capacity of CMO. I come from Consulting background with an overall experience of 7+ years. On the academic front, I hold a Masters degree in Business Administration
[Chandrashekar Ramu] I am Chandrashekar Ramu from Zeroswap. I look after tech
[Vee Fernandes] Could you shed some light on the DeFi Wizard project and its highlights for our new members?
[Aayushi Jain] Sure, I can answer that
DeFi Wizard is a one-stop, one-click, multi-chain services offering platform catering to several essential needs
We provide smart contract-based solutions to companies launching their tokens, and also provide post token launch services
List of services that are currently available for Businesses/Blockchain Companies :
- Token Creation: We generate tokens on BSC, ETH, POLYGON etc. After token creation comes the vesting contract which we provide.
- Token claiming dashboard: Dashboard to claim tokens at the time of TGE to private investors
- Multi-chain bi-directional bridge: ETH<>BSC, ETH<>Polygon Bridge
- LP Tokens Staking Contracts and Dashboard: Staking contracts for LP with dashboard for users with pre-defined logic
- Custom Staking Contract with Dashboard: Staking contracts customised for your needs.
And we want to reveal something interesting for B2C Customers Day, i.e our DeFi Wizard users
We are coming up with multi-chain Farms
Here is a sneak peek of the UI being developed
[Vee Fernandes] Amazing news indeed and definitely a one stop shop for all DeFi needs if I may add further. next question then
[Vee Fernandes] Since the acquisition of DeFi Wizard, the community has been waiting for updates and news. What have you been working on and what strategies have you got in place to improve Defi Wizard?
[Vivek Kumar] I will answer this one
For the past few weeks, the focus has been on consolidating and integrating DeFi Wizard to the ZeroSwap ecosystem as an organisation in terms of operational, governance, technical, culture, and overall vision. We are also assessing opportunities for overall process improvement & optimisation.
In terms of further improvement scope, the immediate focus will be on
- Better user experience in terms of look and feel and overall user journey (sample UI shared by Aayushi above)
- Integrating more services like multi chain Farming as talked about earlier
- Exploring the feasibility of integrating complementary or other value-added services support like security audit
- Enhanced customer support system
[Vee Fernandes] Indeed a lot of work and efforts have gone into this integration and It’s not always visible to the community what’s happening in the background so thanks for elaborating on this one.
[Vee Fernandes] Does DeFi Wizard have a governance module and what are the use cases of DWZ tokens?
[Vivek Kumar] I will cover the 2nd part first as it will automatically take care of the 1st part.
The DW token $DWZ use cases are as follows:
- Mode of payment: Pay DWZ tokens to create any DeFi lego on DeFi Wizard
- Rewards: Earn rewards by staking LP tokens
- Governance: Governance that shapes DeFi Wizard
In summary, DWZ token holders will be able to pay for the fee to create tokens, participate in governance and able to stake
Rest we need to assess more if the need be.
[Vee Fernandes] Great, rewards are always welcome! moving onto the next question
[Vee Fernandes] How is the acquisition beneficial for both projects and their success?
[Vivek Kumar] The acquisition at a combined level, apart from benefitting individual organisations, largely will help users and corporations (clients) as a whole. This is a horizontal integration which means this enables us to cater to the range of needs of corporates and users both across the lifecycle of the project viz. Pre and post-IDO
This is how the portfolio of offerings now look at the combined level
Pre IDO
- ZeeDo: Simple, Fair and Easy Dex Token Offering platform
- DEX Aggregator: Multi-chain exchange with zero fee and gasless transactions (Currently in Testnet. Mainnet launch to be announced)
- Exhaustive Marketing Support: Engaging content creation and lots of rewards for the community
- Extensive Influencer Network: Access to a wide range of global and regional Influencers who would piggyback your product updates (Pre and Post IDO)
Post IDO
- Token claiming dashboard: Dashboard to claim tokens at the time of TGE to private investors
- Multi-chain bi-directional bridge: ETH-BSC bridge
- LP Tokens Staking Contracts and Dashboard: Staking contracts for LP with dashboard for users with pre-defined logic
- Custom Staking Contract with Dashboard: Staking contracts customized for your needs
- Vesting Contract: Linear vesting contracts based on the timeline you provide
[Vee Fernandes] Really looking forward to the multi-chain farming opportunities.
[Vee Fernandes] What are the marketing strategies in place for Defi Wizard and have you recruited any new team members to look after its Business development?
[Vivek Kumar] Indicative but not an exhaustive set of planned activities:
- Cross promotion across DeFi Wizard and ZeroSwap
- Leveraging an existing portfolio of clients served through ZeeDo and DeFi Wizard
- Expanding Influencers network to amplify the network effect
- Partnerships and collaborations
- Advisor support to assist in the guided expansion and overall growth
- Customer awareness through educational content
In essence, it’s about leveraging the existing capabilities and at the same time exploring other avenues
[Vee Fernandes] Thanks Vivek for this information.
[Vee Fernandes] Are all your contracts audited and any safeguards in place to detect or avoid hacks?
[Chandrashekar Ramu] Yes all our contract has been audited.
In addition to that, we follow very strict coding guidelines to make sure and minimize the error at the entry-level itself. In addition to that, we ensure that we conduct random ad-hoc coding inspections to further nullify the potential threats.
[Aayushi Jain] I wanted to add one more point here, the base contracts are audited and taken care of, so whatever new dashboards that we build are completely safeguarded.
[Vee Fernandes] Thanks Chandra and Aayushi for this input, this puts a lot of users at ease then.
[Vee Fernandes] What is the Unique selling proposition of Defi Wizard in comparison to your competitors?
[Vivek Kumar] The USP comes as a cumulative reflection of all that we offer.
- Convenience: Most of the offerings are very simplified for both B2B and B2C in terms of asset reusability, automation, and ease of use, etc. (One stop one click)
- Sustainability: The business model is tried and tested and has been integrated with many clients. The clients are finding it helpful which in turn helps them to offer delivery better to their end consumers
- Scalability: Most of the white label solutions can easily be integrated into the client-side. The technological infrastructure powered by provisions created internally and through partnerships enables us to make this possible
[Vee Fernandes] Amazing!
[Vee Fernandes] With this, we conclude Part 1 of the AMA. Let’s start with the community questions next.
Segment 2: Community questions
[Vee Fernandes] Defi Don asked-
Why should DWZ token holders hold on to the token and why has the token price crashed below the seed price. What is the DeFi Wizard / ZeroSwap team doing to reverse this trend?
[Vivek Kumar] Price is always not the correct reflection or true measure of project success. We are here for a long time and our core focus is on building a good product and a sustainable business. At the end of the day, both B2B and B2C ends should be able to derive some value from it.
When you build something keeping a long horizon in vision, small setbacks are imperative. Neither anyone wants to build a bad product nor anyone wants to have a bad product. We have a good team behind, a good portfolio of clients to whom we have rendered services, a healthy portfolio of clients in the pipeline, well-positioned products with competitive benchmarking, a long term vision and a robust execution plan. We don’t believe there is anything to panic for anyone.
Thank you for asking Defi Don
[Vee Fernandes] WaltonPriest asked -
With the recent fall of several important cryptocurrencies and the current state of the market, How do you position your project, with an advantage or with a disadvantage that you have to solve in some way? And in What way will they take advantage of this whole situation?
[Vivek Kumar] The ups and downs are the fundamental nature of any business or global/regional economy per se. The horizontal expansion with a self-sustainable business model makes it long term sustainable. This business model and industry orientation first, makes the product & services portfolio applicable to all/most sub-industries/domains and thereby better risk hedging. Second, it also helps in better cash flow management.
Lastly, industry drift as a whole also presents opportunities to revisit and explore new ways of deliveries (product, services and delivery models). We have a very well placed competent team to leverage such opportunities and it goes without saying that we will keep on evolving accordingly.
Thank you for asking WaltonPriest
[Vee Fernandes] Miranda Dove asked -
If the general cryptocurrency market experiences a major crash, What are you doing or What will you do to stay afloat?
[Vivek Kumar] Horizontal expansion, non-linear revenue model, product expansion & simplification
[Vee Fernandes] Thersa Kidd Eva asked -
Many projects have problems with UI / UX and this one turns off new users. How do you plan to improve the interaction with new users and with users outside the crypto space?
[Vivek Kumar] Frequent iteration, regular community feedback, product simplification, educational concentrated promotion.
[Vee Fernandes] Ankit asked -
Is there any plan for listing Dwz on other exchanges ? If yes have we contacted any exchange?
[Vivek Kumar] Yes, we are talking to some leading CEX. Just keep a tap on announcements. Thank you for asking Ankit.
[Vee Fernandes] Get it asked -
While you build your project, do you take into account community feedbacks and demands?
[Chandrashekar Ramu] Yes, we do that’s how iteration works on a project. let us know if you have any concerns.
[Vee Fernandes] Thanks Vivek, Aayushi and Chandra for answering them.
[Vee Fernandes] Thank you everyone for attending this AMA and answering everyone’s questions in detail. I trust the community has had the opportunity to learn new details from this forum.
About ZeroSwap and ZeeDO:
ZeroSwap is a multi-chain compatible decentralized exchange aggregator focused on making zero-fee transactions possible. We aim to make on-chain trading simple and easy by providing Ethereum, Binance Smart Chain, Polygon and DEXes access under one roof. One of the core utilities of ZEE is to reduce friction in fundraising using digital assets. To solve that, we have built a Dex Offering Platform Called — ZeeDO.
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