Blue Swap vFarm vAMA (Official Discord)
Blue Swap vAMA Discord#
vMarco Polo (Value DeFi)
Hey there everyone! The AMA with the blueswap.finance team will start in 5 minutes from now! We hope to see you soon... $250 in giveaways will be distributed to the best questions!
gregsam (Blue Swap)
Hi guys!
palette (Blue Swap)
Hello everyone!
oldnoobi (Value DeFi)
Welcome everyone!
yieldfarmer (Blue Swap)
Hello guys!
CryptoActing (Blue Swap)
Hi everyone!
vMarco Polo (Value DeFi)
Hey there everyone, let's get started with the AMA!
palette (Blue Swap)
Yeap let's go!
vMarco Polo (Value DeFi)
Two quick rules:
- Only the mods and our guests can type for now. We will proceed with a few questions and then we will open things up to everyone! You are free to use emojis to questions/answers for now!
- The individuals who ask the best 5 questions will be receiving $50 in blueswap rewards. Winners will be selected in 24 hours from now at the latest. And it goes without saying, let's keep it fun, informative and entertaining for everyone
Hey there blueswap team! It's good to have you!
palette (Blue Swap)
Nice to meet you guys!
vMarco Polo (Value DeFi)
My peer oldnoobi will be handling most of the questions and I will be his backup.
palette (Blue Swap)
Thanks!
gregsam (Blue Swap)
Thanks guys from Value DeFi team for organising this AMA!
vMarco Polo (Value DeFi)
For those who are not aware, blueswap.finance created their first vFarm a few days ago to our platform and this AMA is an opportunity for you to learn about their project. Anyway oldnoobi ; the floor is yours
oldnoobi (Value DeFi)
Ok guys I'm. Excited to have you here. Lets get started.Could you please introduce yourself. And tell us how did you get involved in crypto?
palette (Blue Swap)
First of, thank you for this opportunity from myself and on behalf of my team for the partnership and holding this AMA. We are a team of developers, entrepreneurs, and designers working to make crypto world a more artistic place. I am the lead developer at Blueswap. I have several years of experience as a backend engineer mainly using nodejs/typescript & solidity. I am also an external auditor for other some crypto auditing groups that I cannot name for now. I am in charge of all contracts and fixing some of the UI issues. To answer part of your question, I got into crypto in 2017 by buying my first Ethereum. I was attracted by blockchain technology and its application in the real world. As a developer, I was attracted by the trustless concept of 'smart contract'. When first generation decentralized finance (DeFi) came into the scene, it made a huge impact in the world of crypto and finance. Decentralized applications (dApp) such as Yam and Sushiswap became success stories on Ethereum network. However, the high gas fee and slow transactions raised question marks, whether we should build Blueswap on Ethereum or any other network. So we decided to build it on Binance Smart Chain, which is robust, low gas fees, and transaction are fast.
vMarco Polo (Value DeFi)
Wow; nice background Yes; we suffered from the same fate here at VD. We understand each other from that perspective
palette (Blue Swap)
Yeah that's right.
oldnoobi (Value DeFi)
Ok I like the credentials. So what is your project and what does it have to offer to the crypto space?
palette (Blue Swap)
I was a yield farmer. I witnessed many projects just being copies of previous ones with just a few logos changed being used to scam people of their money. Either a creator would abandon their projects after selling their tokens, which I was a victim of a couple of times; or rug-pull the entirety of the funds including LP tokens. Thankfully, as a developer I could avoid the rugs at least, since I did my due diligence into reading their codes.
oldnoobi (Value DeFi)
Nice to have that ability.
palette (Blue Swap)
Some of these scam projects have created a sour taste on many investors and an uncomfortable reality. I want to change that by creating a farm people from all walks of life can enjoy from its stability and high yields. I want to give people peace of mind. To achieve this to some degree, we have tweaked the tokenonomic of our $BLUE token, and designed the layered farming with several features to give our tokens a genuine value.
oldnoobi (Value DeFi)
I too have fell victim to many scams and rugs. Often times due diligence isn't enough. How does Blueswap provide transparency to users to gain their trust?
palette (Blue Swap)
Yeah one mistake could lead you to the irreversible loss. As a former farmer, I know what usual farmer fears most. First is the safety of their LP-token. We removed the notorious migrator code from the pancakeswap. Also, we offer diff-checker references in our document section for users to check that easily. I am providing these references because that part was the most time consuming and frustrating part when I was auditing other projects to farm myself. We also did our first external audit with BSC-checker and the second audit from one of the most famous audit group is scheduled to come this week. Second, we don't own a lot of our tokens. Usually, the developer’s wallet is the number one whale of the native token. However, we've been burning all the tokens from day one and using them only for partnerships. As a result, we only have about 1.8% of the whole circulating supply. Our biggest sacrifice, and a very important point, there is no single whale present who can dump hard.
oldnoobi (Value DeFi)
That is definitely some peace of mind
vMarco Polo (Value DeFi)
Those details are important for people to know. We have a lot of technical people in our community and I'm sure they can relate to your implementation of choice.
palette (Blue Swap)
Yeah i hope so!
vMarco Polo (Value DeFi)
You mentioned "burn", does this mean $BLUE is a deflationary token?
palette (Blue Swap)
Yes, we are controlling the supply of our tokens very tightly. We've already reduced the reward per block from 1 to 0.3 while burning a lot.
oldnoobi (Value DeFi)
What are the main achievements achieved so far and what are the plans for the upcoming days?
palette (Blue Swap)
The first week of release, we were a newbie here and people may have though we were just one of many scam projects; Many dumped their precious token. we can literally say, we hit rock bottom. Thankfully, we bounced back from those lows and maintained good level of resistance would be build and develop from. Our sacrifice during these times allowed us to gain the trust of the community, and they recognized we are here to stay. Like all the coins, we've gone through many highs and lows. But both our telegram group and total value locked are growing slow and steady signs of healthy progress. We are doing our best to provide a solid product with beautiful design, internally and externally.Even announcements are all made by our professional designer. We have several projects for the next couple of weeks; this week we will implement 'Paint Bucket', which will act as a token burning mechanism as well as giving value to the holders. Simultaneously, we are also working the next layer, which will have some new features we hope our investors enjoy. We are not 'printing out' our layers. We are designing every layer with different features to give each layer's token a special role. I hope everyone who participates enjoys.
vMarco Polo (Value DeFi)
No hard work goes unnoticed.
palette (Blue Swap)
Can't agree more.
vMarco Polo (Value DeFi)
I think we have 2 questions left for you and then we'll open the floor to our community!
oldnoobi (Value DeFi)
Well I know I have been thoroughly enjoying it myself.
palette (Blue Swap)
Okay, thanks a lot !
oldnoobi (Value DeFi)
What is your plan with Value for launching on vFarm?
vMarco Polo (Value DeFi)
Here is the link to the current vFarm the team created btw -> https://bsc.valuedefi.io/#/vfarm/0xac3969ee1cc9511250cd3a3397aae07a3c778e43
palette (Blue Swap)
We care for our investors looking to farm at Blueswap.finance. We want what’s best for them. vFarm and vPool have a special role in BSC DeFi chain by providing liquidity using ValueDeFi’s unbalance LP. This unbalanced LP pool (not 50/50) makes it possible for farmers to farm without huge IL in price-fluctuating situation. We want to expand our pairs in vPool and vFarm including Stable/Native token, or ValueDefi's token pairs. This would provide a safer environment for our users to farm. Of course, it would be great, if we could add other campaigns together
vMarco Polo (Value DeFi)
Ahh nice; we would be more than happy to host more vFarms on our platform. The more, the merrier
oldnoobi (Value DeFi)
More farms are always nice!
palette (Blue Swap)
Always!
vMarco Polo (Value DeFi)
Creating more liquidity and offering more options to investors; definitely the right move!
oldnoobi (Value DeFi)
Can you explain your special burn mechanisms?"
vMarco Polo (Value DeFi)
Oh oh.. this one our last question. Audience, get ready
palette (Blue Swap)
We're continuously implementing special deflating mechanisms to our tokens. First one is the $BRUSH in our green layer. Farmers can buy $BRUSH with their $BLUE to gain higher APR at green farm. These $BLUEs are burnt right away. This Brush feature will be kept in other layers to work as a strong mechanism to deflate blue along with the reward block reductions providing a stability in pricing of our native $BLUE token. Remember, no color is left behind in palette universe. Our next feature 'Paint Bucket', which is a variation of lottery system, is also designed to burn multiple colors of tokens regularly. Many features will come every week to give investors/customers entertainment, wealth, and a community they can be a part of.
oldnoobi (Value DeFi)
Wow you guys have a lot to offer all ready and more in the works!
vMarco Polo (Value DeFi)
And your username fits you very well : ) Awesome; we want to allow for our community to engage with you and ask questions.
palette (Blue Swap)
Okay!
vMarco Polo (Value DeFi)
You have a few other team members with you today to help answer some of the questions so we will be opening things up to the community! Once again, palette and his team will be doing a $50 giveaway to the best 5 questions ($250 in total). Thank you palette for answering our questions
palette (Blue Swap)
Thank you for hosting this AMA!
oldnoobi (Value DeFi)
Before we release you to the group. I want to thank you for your time and for making Blueswap.finance available to the VALUEDEFI community.
vMarco Polo (Value DeFi)
We have now opened the channel to everyone. Please join us and ask your questions to the blueswap.finance team for a chance to win $50 (5 winners/best questions will be selected; $50 each
kegaska
Hi palette and Blueswap team! As someone who is fairly new to yield farming, avoiding impermanent loss is one of my concerns. Is blueswap doing anything in your own platform that would help people like me maximize their earning potential safely? If not, is it in the plans?
palette (Blue Swap)
Goose first gave the idea of layers. But for now as i know, they are just printing out the layers without additional value. In that case, no one would value their layered tokens which will be come unsustainable. We name every color and trying to give a unique value to them. No color is left behind. We are making every layer unique to give a special value.
! ＡＶＧ∞WKAAS
Will there be a new partnership agreement in the near future? how we deliver high APR rates to your users?
CryptoActing (Blue Swap)
Yes, we hold talks for new partnerships. More details will be announced when something is fixed.
! ＡＶＧ∞WKAAS
We will continue to support you to good days together
jazera
Getting partnered with well-known projects is a really good marketing plan. What are your partner goals? Apeswap is a really good move.
palette (Blue Swap)
There are three goals in our partnerships. Marketing, safety and liquidity. For example, our partnership with ape was to give a additional liquidity by adding pairs at other DEX's. Users got a 20000$ worth of instant liquidity at other platform. We are making many partnerships on these two rules. With value, as i stated earlier was to give a safety value.
b4l4f4s
Are your general strategy to expand as fast as possible or make a stable working site?
gregsam (Blue Swap)
We want organic grow for our project. That’s is what is happening since 2 weeks. Like the dev already says we want a sustainable yield farming.
BscValue
What is the value proposition with your project other than being a safe farming site? What do you add to the BSC ecosystem? I didn't see your roadmap on your website.
palette (Blue Swap)
We are preparing a new roadmap infographics which would take some time. We'll eventually expand our territory to arts as we are a painter. NFTs will come in place there definitely. We are trying to make a multi-platform based on BSC from yield farming to NFT open market and so on.
cakobela
If there is a decrease in transaction fees in the Ethereum network (such as EIP 1559 or another protocol), can Blueswap be moved / integrated into the Ethereum network in the future? Is something like this possible?
palette (Blue Swap)
In the future, we may consider a interchain or crosschain if needed. Ethereum chain is indeed important as its decentralized nature. But for now, we are satisfied with BSC enough
cakobela
Thank u so much answering mr. palette
srvtdmrhn
Will the project be cake killer?
palette (Blue Swap)
Haha we hope so
Sanchez5758
palette what is the future of palette ? Will palette replace physical bank in the future ?
palette (Blue Swap)
Decentralized finance may replace the centralized banks in some feature but I think they should go together.
schiccus
Do you think to add compound function on Pools?
gregsam (Blue Swap)
Yes, we are working on it
! ＡＶＧ∞WKAAS
Is there any attempt to list the stock exchanges?
gregsam (Blue Swap)
It’s not our top priority as we are on BSC. If exchanges want to list us they can do it.
odkacar
How many layer will be on blueswap and when will come the next layer? and also what will be its color I think it should be red
palette (Blue Swap)
Haha many people are thinking red, but would that be so easy to predict ? Next layer will be announced in the future. maybe this week or next week.
oldnoobi (Value DeFi)
Can we make the next layer #Pink ? I think there's a lot of possibilities there. It could help raise awareness!
palette (Blue Swap)
Haha you made a guess! We'll see
Quannie
Where does the team see the project in 3 months? 6 months?
palette (Blue Swap)
We will stay with you as long as blockchain persists
oldnoobi (Value DeFi)
Thanks again guys! Welcome to VALUEDEFI !
vMarco Polo (Value DeFi)
Thank you everyone for your participation.
palette (Blue Swap)
Thank you everyone! It's been so nice
vMarco Polo (Value DeFi)
And of course; thanks to the blueswap.finance team for this informative AMA
yieldfarmer (Blue Swap)
Thank You guys to make this possible!
vMarco Polo (Value DeFi)
We're not experts at AMAs but we hope this was helpful!
yieldfarmer (Blue Swap)
We enjoyed every moment
vMarco Polo (Value DeFi)
As a reminder, the blueswap.finance team will be reviewing the AMA questions and they will be rewarding the top 5 individuals for their questions. We will be sharing the names here as well for everyone to see!
gregsam (Blue Swap)
Thanks guys for this AMA and great questions
palette (Blue Swap)
Really well handled AMA. thanks a lot for all of you!
vMarco Polo (Value DeFi)
And of course; we will post the script of the AMA to our DOCUMENTATION page so it can be easily accessed outside Discord Have a great morning, afternoon and evening everyone; thank you
palette (Blue Swap)
Thank you!