O3 Swap AMA Recap
O3 Swap is a cross-chain aggregation protocol, allowing users to access multi-chain liquidity sources on one platform.
Today we have Tim as Product Lead of O3 Swap joining us to answer our questions for the next hour.
I am Tim.
I am the Product Lead of O3 Swap
I am in charge of the O3 Swap design with all our outstanding teammates.
Before joining the O3 Labs, I was a project manager in a consultant company based in Hong Kong.
Glad to e-meet you guys here and share our product with you.
Question from the CryptoRank team
#1. Can you tell us about O3 Swap? What problems do you solve, both in the space and for the community?
Tim: – O3 Swap is a cross-chain aggregation trading platform incubated by the O3Labs team. It aggregates the liquidity sources from various decentralized exchanges across chains, and through the cross-chain pool, users can complete the cross-chain transaction. It solves the current problem of liquidity fragmentation on various mainstream blockchains, making it no longer difficult for users to cross-chain transactions.
#2. Could you shortly describe the milestones O3 Swap have achieved, and about your upcoming plans?
Tim: – At present, our official website is online and supports the cross-chain exchange of assets on Neo, Ethereum, BSC, and Heco for the public test. It can be run by connecting to Metamask. The number of Cross-chain transactions has exceeded 300,000.
In the next step, the O3 token and economic model will be released in May. Genesis mining and staking function will be initiated soon.
In Q4 this year, we plan to complete the deployment of the Layer2 network and launch DAO Version.
Questions from Telegram
#1. As I know there are two modules in O3 Swap. Can You tell us about the exchange aggregators (O3 Aggregator) and cross-chain pool (O3 Hub)? What are their purpose in the O3 ecosystem?
Tim: – O3 Aggregators help users find the most effective trading rates and routes in the corresponding network.
– O3 Hub provides users with cross-chain transaction services and supports users to add liquidity by a single token from different chains to earn O3 rewards.
#2. Many swap platforms are beginning to emerge and the competition in the swap space is growing tremendously. And 03 SWAP is one of the features of 03 LABS. What has 03 LABS done differently to make sure that 03 SWAP is one of the top Swap platform available in the space?
Tim: – There are three competitive advantages of O3 Swap compared to other non-custodial exchanges on the market.
1, O3 is the first DeFi project to build a cross-chain trading pool. The pool will allow for the open exchange of major assets which span multiple blockchain networks, and provide a single token mining for multi-chain assets.
2, O3 combines with liquidity aggregation and trade mining, we will provide the best trading rate and routes for traders. At the same time, traders can also earn rewards from each transaction on O3 Swap.
3, O3 Swap has an innovative economic model where we will share the revenue from O3 Swap with O3 traders and stakers. It should attract more and more people to participate on our platform.
#3. Almost SWAP platform must affront these 2 issues: the low Liquidity (that cause Big spreads between orders) and Slippages, so can you tell me how does 03 Swap solve this instrinsic limitation?
Tim: – 1. Our cross-chain pool transaction fee is 0.04%. similar with Curve, it is currently very low in the market.
2. The cross-chain fee (Poly Fee) is mainly determined by the current network fee of the target chain, and the purpose is to help users achieve successful transactions.
3. In addition to the above costs, there are no other fee be charged in O3 cross-chain.
#4. Good partnership sat strategy are some of the most important platforms to help improve adoption. Can you tell us about the existing O3Labs partnerships, partnership plans and the ecosystem benefits from these partnerships?
Tim: – O3 Swap secures investment from SoftBank Singapore. We are also gracious and humbled by the support of these highly reputable and prestigious blockchain ventures.
@NGC_Ventures, @okex_ventures, @SevenXVentures, @FBGCapital, @Neo_Blockchain 😊
#5. Can you tell us a little about the Tokenomics of the project? I think it could give transparency and build trust to new users?
Tim: – First, users need to pay 0.04%-0.3% of the transaction fee for cross-chain asset transactions through O3 swap. The platform will regularly buy back O3 in the open market, part of them will be allocated to O3 holders and DAO management. At the same time, O3 holders will receive O3 as rewards and trading discount; in addition, staking LP of O3 Hub will also receive cross-chain transaction fee discount and rewards.
#6. What are your upcoming events??? What important events we should not miss.
Tim: – Yes, we will start public sale on May 12 -13th, 2021 on the platforms including BSCpad, Westarter, DuckStarter, Gate.io, and MXC. Below are the details of how to participate. 👀