Selected questions and answers from the AMA
- So far, AdaSwap managed to finish off successful funding round from various investors and private individuals – what’s the road map for the next few months?
Now that we have finished the round we intend to focus on the product, this will go hand in hand with our great initiatives to create and cultivate a generation of Cardano users.
- What has been the biggest challenge to establishing AdaSwap DEX?
The main due diligence that the team has undertaken for disaster prevention has been from the legal side. We have invested a lot of effort ensuring we adhere to the highest of legal standards to make sure AdaSwap will be able to withstand any changing regulation in the future and the blockchain space as crypto receives global acceptance.
- In terms of consumer and trader interest, how are you pushing the boundaries of innovation to ensure both consumers and investors remain interested in the service you’ve created?
The current market competitors are focused on utilizing Cardano believers and fail to look towards other blockchains for attracting volume. AdaSwap will launch as a cross-chain token to not only create a higher level of trade volume, but then bring these cross-chain buyers over to Cardano with our great utilities and incentives.
We will also have great protocols to drive participation such as our Free Financial Model, where no transaction fees are charged on ASW based transactions or our stake and forget protocol that will create an automated airdrop system through staking pools to help users diversify their portfolio.
- Why should individuals consider the fast-changing pace of decentralized finance as an important part of macroeconomics?
As the world enters a digital era of global connectivity, the way we interact and transact with one another must change as well. With the rise of Covid, failures of leadership and wide-ranging political unrest, the faith in traditional institutions has been put to the test. Younger generations are increasingly turning to decentralized protocols to manage their funds. DeFi has given people the means to benefit as well as a new way of interacting with one another on a global scale.
- How will the regular trader, or small-time investors benefit from platforms such as AdaSwap?
Many traders today have turned away from Centralized exchanges given the security risks, people prefer to safeguard their own private keys and access to their funds which has led to the rise of DeFi and the ability to have full control over funds. For any retail trader that wants control and the ability to swap native Cardano assets in a non centralized way will benefit from the AdaSwap platform.
- You’ve mentioned previously that the native cryptocurrency token $ASW will help power the Cardano ecosystem, to what benefit is that of the consumer?
Our Token will provide a multitude of benefits such as Access to an automated airdrop system as well as various tier Levels for discounted fees, voting rights, and exclusive offers and access in the NFT marketplace. Our token will power our DEX and ecosystem.
- Why did you decide on a Free Financial Model for the first-ever DeFi protocols on the Cardano network?
We Want to encourage our users as much as possible while helping to bring new users to the Cardano ecosystem. We will help our users create additional wealth while enjoying all our services at no extra cost.
- How do you see the future of DEX platforms grow in the coming years?
As DeFi has become a stable financial service we feel society and regulators will shift to adapting such protocols for mainstream usage. We are excited to see the growth that will be attached to DeFi and the practical applications it will offer to society at a broader capacity.
- Blockchain is growing to become more mainstream, why should individuals look to come on board with this system of transaction?
I believe that blockchain technology and decentralization is exactly what the world needs right now.
With extreme inflation all over the world due to the dollar losing its dominance and the war between Russia and Ukraine making normal people suffer from banks not allowing them to withdraw their own money.
I think that blockchain technology is what will ultimately bring transparency to the current financial system.
- Are there any exciting projects that we can expect from the AdaSwap team in the year ahead?
We’re very close to bring out our first protocol: ADANFT, an exclusive NFT marketplace with a tiering & voting system.
We plan to later on this year launch the AdaSwap DEX with Milkomeda’s L2 EVM solution.