AMA RECAP

CRYPTO MINERS X LUMENSWAP

Venue : @Crypto_miners_Community
Date : 6th September, 2021
Time : 1PM UTC

Guest : LumenSwap Team
LumenSwap Team shared with us a well detailed insight into the Project and Unique features of LumenSwap…

SEGMENT 1️⃣ — INTRODUCTION

WOLVERINE | Crypto Miners:
Hello community, welcome to a special AMA session with LUMENSWAP.

Now let's welcome our special guest from Lumenswap Team here to join us.

George | I will NOT Dm you first |:
Hi everyone, thank you for having us

Ben | Lumenswap $LSP:
Hey 👋 good to be here

WOLVERINE | Crypto Miners:
So let's start without making much delay!😁
Introduce yourselves please. How did you guys get to be involved in crypto & Lumenswap ?

George | I will NOT Dm you first |:
Sure, like a lot of people I got into the space in 2017 - initially very excited by Bitcoin and Ethereum. Quickly stumbled across the Stellar network and fell down the rabbit hole.

I reached out to the Lumenswap team earlier this year to help them build out their platform, and now act as advisor

Ben: https://t.me/Crypto_Miners_Community/398861 (VC)

WOLVERINE | Crypto Miners:
So team can you give a brief explanation of what 'Lumen Swap' is? Also, what made you want to create platforms in the Stellar Network and the platforms use LSP Token?

Ben: https://t.me/Crypto_Miners_Community/398867

Sounds absolutely great! So today is a great day for Lumenswap successful step 5 update on roadmap🤩😇

So what discerns you from other projects and what gives Lumen Swap an advantage over other projects in the space?

Ben | Lumenswap $LSP:
Absolutely! We were listed on CoinGecko today as well. A great day

George | I will NOT Dm you first |:
Lumenswap’s inherent advantage is the Stellar network - it’s battle tested, incredibly efficient, and works as intended.

With AMM and smart contract functionality coming to the network in Q4, Lumenswap is very well positioned to capitalise on the inevitable influx of DeFi users looking for more efficient transactions and decentralized finance applications.

Ben: https://t.me/Crypto_Miners_Community/398874

WOLVERINE | Crypto Miners:
Can you provide an overview of how LumenSwap Tokens ($LSPs) are being used — and will be used in the future — also, are holders benefitted for holding?

Ben | Lumenswap $LSP: https://t.me/Crypto_Miners_Community/398879

The traders need to trade on Lumenswap using LSP / XLM pair to qualify

WOLVERINE | Crypto Miners:
Great👏 how many of them are currently in circulation?

Ben | Lumenswap $LSP:
Around 128 million

George | I will NOT Dm you first |:
https://medium.com/lumenswap/lsp-circulation-report-august- 2021-816bfecce775

WOLVERINE | Crypto Miners:
How will the experience and background of your team affect the success of your project?

George | I will NOT Dm you first |:
Our team of developers are crypto veterans, with extensive experience with early Ethereum and crypto startups. As a result, the Lumenswap roadmap reflects their ambitions to build a world-leading DeFi experience for both the Stellar network and wider DeFi ecosystem.

Add that to our fast-growing and talented marketing and community team - with superstars like Ben, and we really do have all of the bases covered to turn Lumenswap into a market-leading DEX.

WOLVERINE | Crypto Miners:
How long did it take to develop this project? What plans do you have for the future ? And what can we expect from Lumen Swap?

Ben: https://t.me/Crypto_Miners_Community/398897

George | I will NOT Dm you first |:
The project has been in development for over a year - feel free to check our roadmap out! https://docs.lumenswap.io/about-us/roadmap. Our major platform re-developments started at the beginning of Q1 this year.

Our major upcoming milestones include;

- Designing and launching the AMM section for Lumenswap
- Launching our native auction platform
- Building a trustless bridge, starting with ETH <> XLM
- Designing and implementing a platform-native lending protocol

You can expect us to deliver a user friendly, chain-agnostic DeFi user experience - rivalling the likes of Pancakeswap, just as Ben eloquently said.

WOLVERINE | Crypto Miners:
https://docs.lumenswap.io/about-us/roadmap

SEGMENT 2️⃣ — Twitter Q & A

WOLVERINE | Crypto Miners:
From @cryptoangel81

Sir, tells us how we will get Liquidity farmers to provide liquidity if they airdropped all the rewards instead + rewarded wash traded with the last %.
So will you either go back on your WP or find a new % out of somewhere else for farming?

Ben: https://t.me/Crypto_Miners_Community/398907

George | I will NOT Dm you first |:
To add to what Ben said, we will be exploring a governance element to the LSP ecosystem, so future tokenomics discussions will revolve around community proposals - much like Sushiswap etc.

WOLVERINE | Crypto Miners:
From @revatisharmaji

How does LumenSwap handle government regulations and boundaries? And What mechanisms / strategies do you use to keep users motivated and present on your platform? What can the LumenSwap platform guarantee or promise in terms of the security and privacy of its users?

George | I will NOT Dm you first |:
How does LumenSwap handle government regulations and boundaries?

We regularly keep abreast of international government regulations, and have user safety at the heart of our platform and products. The recent Uniswap controversy in the United States has definitely focused our minds on making sure that we stay compliant with global jurisdictions.

That being said, we are a decentralized platform, and will act as such. I think the best answer is that we want to provide the best experience for our users, and will keep government regulations in view to navigate as the ecosystem expands.

//

And What mechanisms / strategies do you use to keep users motivated and present on your platform?

A killer UI (!) As more of our products come online, users will have access to a wide range of features to cater to pretty much every crypto need. We hope this is enough to keep them motivated and present!

//

What can the LumenSwap platform guarantee or promise in terms of the security and privacy of its users?

As a front-end to Stellar’s DEX functionality, we have no access to users' private information - we are as secure as the Stellar network - which hasn’t experienced any hacks or safety issues since inception.

WOLVERINE | Crypto Miners:
From @halfhumancr

So what are your features over the Existing swaps, and What is your main competitive advantages that #Lumenswap ? What is the unique features of this project and other swaps like pancakeswap,apeswap, uniswap, etc?

Ben: https://t.me/Crypto_Miners_Community/398920

From @brightinfi

Lumenswap is a decentralized exchange for the Stellar network that allows you to swap and trade assets on the network using a friendly, minimal interface.Does LumenSwap have any plans of implementing a bridge between Stellar Network and other blockchains in future?

Ben: https://t.me/Crypto_Miners_Community/398937

George | I will NOT Dm you first |:
Yes! As referenced in our roadmap, we have our sights set on trustless bridges between XLM and other major L1 networks, starting with ETH. Follow Lumenswap on Twitter and join our friendly Telegram group to stay up-to-date with our technical and roadmap developments - https://t.me/LumenswapCommunity -

WOLVERINE | Crypto Miners:
Farm @aravind75154890

How does LumenSwap deal with other DEXs currently obstacles to accessing DeFi services : high gas cost with on-chain transactions, liquidity being fragmented to various protocols and services, trade fee, subpar UI/UX and lack of efficient market-making mechanisms ?

George | I will NOT Dm you first |:
Agree with Ben - without sounding like a broken record, being a Stellar DEX means that we don’t suffer from the problems traditionally associated with other DEXs. Fees are incredibly low, swaps super fast, and liquidity all pooled by the network.

Our UI is always being worked on, and although a personal opinion, I believe it’s one of the best in the business when it comes to simplicity and accessibility - something that’s harder to achieve than you think.

SEGMENT 3⃣ — Live Q & A

DEFI is growing too fast and the likelihood of it being interrupted is very highWhat do you think about this and can you be sure that your project product will be in demand in the long term? Your Project are there any plans to contribute to DeFi’s development?

Ben:https://t.me/Crypto_Miners_Community/400355

Hamza Shafiq:
I love this project is placing importance on the community aspect. It’s something that I think is lacking in a lot of projects. How can us early investors really help project grow before it launches? From providing liquidity to general participation, what different roles are there when it goes live?

George | I will NOT Dm you first |:
Great question! Simply, joining our telegram and discord community is a great start. We are onboarding a lot of ambassadors from different parts of the world - as we really want to be a global community.

You can help grow Lumenswap by joining in the conversation, sharing what we’re doing on social media, and becoming an ambassador or Lumenswap supporter!

Once our AMM functionality is live, liquidity farming etc will be available to everyone using the platform, including community members.

Jmags: In your platform, there is a "path" feature when doing a token swap. Can you explain to us how does this feature works and what are its advantages and benefits for token/asset swappings?

Ben: https://t.me/Crypto_Miners_Community/400357

⭕🆆🅴🆁🅴🆆🅾🅻🅵⭕:
🌺🌈🌺🌈🌺🌈🌺🌈🌺

What is the plan to ensure sufficient liquidity on exchanges to fill market orders, especially as adoption increases and clients begin multiplying year-over-year for your project ?😊

🌺🌈🌺🌈🌺🌈🌺🌈🌺

George | I will NOT Dm you first |:
We are currently in conversations with large CEX providers, to dramatically increase the liquidity available for $LSP holders and traders. Working with quality MM partners is also one of our top priorities.

Our DEX liquidity will be helped hugely by the AMM functionality coming at the end of the year - as mentioned earlier in the AMA. This will go a long way towards increasing the depth of liquidity available and reducing on-chain spreads.

— AMA CONCLUDED —

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https://t.me/LumenswapCommunity

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https://lumenswap.io
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