Recapitulation of BLOCKSWAP PROJECT AMA event held at AMA LOVERS CLUB.

Venue: https://t.me/amaloversclub
Date: Thursday, 22rd April, 2021
Time: 10:00 UTC

The BLOCKSWAP PROJECT team was represented by @Scott_hiwho judiciously shared with us detailed knowledge and information about BLOCKSWAP PROJECT.

1st Segment: INTRODUCTION

Q1: Can you please introduce yourself and your background, also introduce the team working on Blockswap Network?

ANS: Yes. Myself - COO / Commercial Lead of BlockSwap.

I entered the blockchain sector in 2014, I previously held the role of Director of Global Business Development at Wanchain Foundation, a blockchain protocol focused on cross-chain smart contracts.

Prior to BlockSwap I built and lead WeWork’s Blockchain focused incubator. If you see they just started accepting crypto payments

https://www.forbes.com/sites/roberthart/2021/04/20/wework-to-accept-crypto-and-will-pay-its-landlords-in-crypto/?sh=604ebf1025f6

My co-founder Matt - Blockchain architect specialized in cross chain, PoS architecture who headed the multi-chain asset tracking network DSCAN and Social money platform woolah prior to BlockSwap.

BlockSwap is an immutable, decentralised, non-custodial protocol that brings fixed income products to proof of stake chains.
We use staking and PoS stake as a mechanism to trustlessly redistribute wealth.

and we have 4 other distributed devs.

Q2: Can you introduce Blockswap Network, what critical problems does it solve that existing solutions are not solving and what's the competitive advantage?

ANS: We at Blockswap believe the mainstream adoption for Defi will be thru solving real-world problems of everyday users, the best way to do that is ensuring they have a safer and easier place to preserve and grow their wealth onchain

Providing a non-speculative saving market-based PoS native yield while providing the user onboarding very easy and cost-efficient manner.

This is the crux behind Open Saver - as it named it is Open for everyone and inclusive in terms of 100% permissionless

Every Saver Account is completely collateralized with staked PoS asset and be available onchain.

There is no uncertainty around lending and borrowing demand exist in the current Defi.

Building Sustainable Savings Markets for PoS chains.

Q3: Can you briefly describe the top milestones you have achieved and your target milestones with timelines, also share your roadmap?

ANS: We prev ran a successful POC on Tezos - whitelisted +$100m AUM from Bakers.

We have our CommuntiyNet starting for - ETH2 + Algorand this week

Our StakeHouse Automated Asset Market Maker - is Ready to roll for the CommunityNet

We Raised $2.5m from strategic investors supporting us

Launching Open Saver - Universal Basic Savings Account Scheme

Then the next Chains (DOT, ADA) development underway.

The CommunityNet going live is a big milestone. You can read about the LP program going live next week here: https://twitter.com/Blockswap_team/status/1384807954617077760?s=20.

Q4: Can you briefly describe your PARTNERSHIPS so far?

ANS: We have some infrastructure partners like Arweave and others coming out. Republic Crypto are supporting us as well.

The main partners shall be coming through running a StakeHouse for the CommunityNet. here is a sneak peak...

https://twitter.com/0xPolygon/status/1384450623895007235?s=20

More StakeHouse names shall be released next week 👀

Q5: Can you give an overview of your Tokenomics, and the UTILITY of the $BSN Token?

ANS: 500,000,000 tokens in circulating supply for the next 8-12 months.

Network is predicted to have a full supply in the next 5-6 yrs depends on inflation.

Our ETH2 CommunityNet (CN) is going live next week. The CN shall launch a unique token incentive scheme bootstrapping our genesis community.

~250,000,000 cBSN tokens will be distributed through an incentivized CN phase across 5 months.

For full details of the CommunityNet and Token here also 😁
https://blog.blockswap.network/incentivized-communitynet-with-fair-token-launch-66f8925d81d9

CommunityNet is to drive a better alignment between users and our products intended functional utility. We want to enable users to test our products in a safe environment and allow us to improve on the UI.

Users shall also learn how our AMM coordination layer works.
We reward users through CommuntiyNet token for their participation.
At the same time we build a foundational user base for the mainnet going live in 6 months.

Communitynet token is redeemable 1:1 with Mainnet token.

Its the final days of LBO to acquire the cBSN token so participate in the StakeHouse game. https://blog.blockswap.network/cbsn-balancer-lbp-user-guide-4a67dc5dafe7

2nd Segment: LIVE Questions

Q1: BLOCKSWAP NETWORK is mainly a saving platform. For any kind of saving platform 2 thing is very important . They are:

1) Security
2) Trust

How BLOCKSWAP NETWORK aim to gain this 2 very important thing?
https://twitter.com/ThomusShelby2/status/1385100458704834561?s=19

ANS: Great question. The CommunityNet is run in a simulated environment, so users funds SAFU. 5 months of stress testing the protocol with users.

Mainnet shall pass through 4-5 audits and a formal verification process*

Blockswap is fully on-chain with no oracle dependency, and its collaterals are base L1 assets with native yield with tamper-proof data. It's almost improbable to manipulate Blockswap saver markets with arbitrage that we see in Defi today. Funds are SAFU bcoz it is secured by the chain itself.

Q2: So many new swap platforms built recently, and it's getting more competitive in the space. Regarding on that competition, what is BlockSwap offers in order to be one of the top of swap platform?What are the major milestones archieved so far & what are at future pipeline?

ANS: We are not a Swap platform per say.

We focus on 2 types of users.
- Users who want to stake their base native token and earn higher yielding inflationary rewards.
- Users who want to bring fiat and earn a sustainable APY Savings without having to touch PoS themselves.

Q3: Blockswap stands out for offering stable medium-long-term performance and can serve millions of users managing several billion without exposing their capital to risky bets. What role does your OpenSaver product play in all this given that they mention is the key to the project?
https://twitter.com/Carl_crip/status/1385027725640011777?s=20

ANS: OpenSaver is a new architecture built from ground brining sustainable saving market for the mainstream users. Every asset in OpenSaver ecosystem will have a fixed native yield. In an end users case SaverDollar has 7% which comes from a Bonded PoS Asset as the collateral backing that deposit.

There is a nice article here:
https://blog.blockswap.network/universal-basic-savings-with-defi-63c08844be49

Q4: ⭐How do I participate in the LBP Balancer, could you detail the step by step? And with Balancer can I connect my Trust Wallet? https://twitter.com/MaraR69414706/status/1385170072323379202?s=19

ANS: Yes you can connect with Wallet Connect.
We have a full guide here: https://blog.blockswap.network/cbsn-balancer-lbp-user-guide-4a67dc5dafe7

Or ask on our https://t.me/bsnchat we have helpful admin.

Q5: 🌸Saver Dollar has no external oracle dependency; It is a new design, so could you explain that "new design", what does it consist of? And why does he make it a better option than relying on an oracle?
https://twitter.com/SabriiFR/status/1385091675178033153?s=19

ANS: yes this is quite a unique design as even if the price on the base asset decreases the end users still receive their 7% $saverUSD.

It works like this:

Everytime a Saver is purchased a Saver Bond is minted and the collateral of this saver bond keeping a 150% staked asset collateral reserve.

If the price of the base assets decreases, it creates an arbitrage opportunity to go long on the staked asset and for the market to buy up the Saver bond, manage the rights of that saver bond and flip it to the market.

OpenSaver smart contracts will make sure the assets maintain a 150% collateralized debt ratio.

Open Saver is built on a AMM model where users add liquidity to a loader pool (dtoken or SLOT) or bring USD Stable coin to the minter pool to buy the saver bonds from the market (packaged staked assets).

In this scenario adding Liquidity provisions to the dToken pool gives users a 10% APY on staked ETH and for SLOT token holders gives a means to sell their SLOT to the market for USD stable coin.

View our blog where we have more information

https://blog.blockswap.network/

Follow Us On Our Various Social Media Communities For More Update;

Telegram: https://t.me/bsnchat

Wedsite: https://www.blockswap.network/
Twitter: https://twitter.com/Blockswap_team
Telegram https://t.me/bsnchat
LBP page: https://balancer.exchange/#/swap/0xA0b86991c6218b36c1d19D4a2e9Eb0cE3606eB48/0x7d4B1d793239707445305D8d2456D2c735F6B25B

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